The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
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
OMB Number: 3235-0006
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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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   4,719,647 37,230 SH   SOLE   37,230 0 0
AVALONBAY CMNTYS INC COM 053484101   8,328,482 44,485 SH   SOLE   44,485 0 0
BOSTON PROPERTIES INC COM 101121101   1,525,145 21,735 SH   SOLE   21,735 0 0
CALIFORNIA RES CORP COM STOCK 13057Q305   3,196,046 58,450 SH   SOLE   58,450 0 0
CRESCENT ENERGY COMPANY CL A COM 44952J104   2,062,953 156,166 SH   SOLE   156,166 0 0
INVESCO EXCH TRADED FD TR II SR LN ETF 46138G508   12,720,920 600,610 SH   SOLE   600,610 0 0
ISHARES INC MSCI BRAZIL ETF 464286400   2,842,248 81,300 SH   SOLE   81,300 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822   1,289,214 20,100 SH   SOLE   20,100 0 0
ISHARES INC MSCI MEXICO ETF 464286822   2,839,523 41,850 SH   SOLE   41,850 0 0
ISHARES INC MSCI STH KOR ETF 464286772   1,320,757 20,155 SH   SOLE   20,155 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772   1,262,833 27,435 SH   SOLE   27,435 0 0
ISHARES TR CORE HIGH DV ETF 46429B663   7,469,748 73,240 SH   SOLE   73,240 0 0
ISHARES TR CORE S&P500 ETF 464287200   8,592,086 17,989 SH   SOLE   17,989 0 0
ISHARES TR IBOXX HI YD ETF 464288513   19,744,511 255,130 SH   SOLE   255,130 0 0
ISHARES TR ISHARES BIOTECH 464287556   5,895,211 43,395 SH   SOLE   43,395 0 0
ISHARES TR MICRO-CAP ETF 464288869   4,105,722 35,385 SH   SOLE   35,385 0 0
ISHARES TR PFD AND INCM SEC 464288687   2,556,644 81,970 SH   SOLE   81,970 0 0
ISHARES TR S&P 500 VAL ETF 464287408   9,025,760 51,905 SH   SOLE   51,905 0 0
NEUBERGER BERMAN ENERGY INFR COM 64129H104   797,199 115,872 SH   SOLE   115,872 0 0
PROLOGIS INC. COM 74340W103   5,652,587 42,405 SH   SOLE   42,405 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400   1,141,010 16,750 SH   SOLE   16,750 0 0
SPDR SER TR S&P BIOTECH 78464A870   2,794,777 31,300 SH   SOLE   31,300 0 0
SPDR SER TR S&P REGL BKG 78464A698   6,013,721 114,700 SH   SOLE   114,700 0 0
TALOS ENERGY INC COM 87484T108   1,989,069 139,780 SH   SOLE   139,780 0 0
VANGUARD BD INDEX FDS SHORT TRM BOND 921937827   12,696,362 164,845 SH   SOLE   164,845 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751   4,034,070 18,910 SH   SOLE   18,910 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858   9,725,493 236,630 SH   SOLE   236,630 0 0
VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT 921943858   7,299,564 361,160 SH   SOLE   361,160 0 0