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The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AVALONBAY CMNTYS INC COM 053484101   18,141,618 96,900 SH   SOLE   96,900 0 0
CAMDEN PPTY TR SH BEN INT 133131102   15,712,643 158,250 SH   SOLE   158,250 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   16,134,008 263,800 SH   SOLE   263,800 0 0
ESSEX PPTY TR INC COM 297178105   16,364,040 66,000 SH   SOLE   66,000 0 0
INVITATION HOMES INC COM 46187W107   17,904,339 524,900 SH   SOLE   524,900 0 0
ISHARES INC CORE MSCI EMKT 46434G103   10,511,485 207,819 SH   SOLE   207,819 0 0
ISHARES TR IBOXX HI YD ETF 464288513   213,132,060 2,754,000 SH   SOLE   2,754,000 0 0
ISHARES TR CORE MSCI EAFE 46432F842   25,450,731 361,773 SH   SOLE   361,773 0 0
ISHARES TR MSCI LW CRB TG 46434V464   16,521,034 99,840 SH   SOLE   99,840 0 0
MID-AMER APT CMNTYS INC COM 59522J103   16,547,992 123,070 SH   SOLE   123,070 0 0
SPDR SER TR S&P BIOTECH 78464A870   50,145,264 561,600 SH   SOLE   561,600 0 0
UDR INC COM 902653104   15,772,034 411,910 SH   SOLE   411,910 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   75,073,253 171,871 SH   SOLE   171,871 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769   229,195,559 966,173 SH   SOLE   966,173 0 0
VANGUARD SCOTTSDALE FDS SHORT TERM TREAS 92206C102   12,960,926 222,200 SH   SOLE   222,200 0 0