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   4,799,319 37,230 SH   SOLE   37,230 0 0
AVALONBAY CMNTYS INC COM 053484101   8,254,637 44,485 SH   SOLE   44,485 0 0
BOSTON PROPERTIES INC COM 101121101   1,419,513 21,735 SH   SOLE   21,735 0 0
CALIFORNIA RES CORP COM STOCK 13057Q305   3,220,595 58,450 SH   SOLE   58,450 0 0
CRESCENT ENERGY COMPANY CL A COM 44952J104   1,858,375 156,166 SH   SOLE   156,166 0 0
INVESCO EXCH TRADED FD TR II SR LN ETF 46138G508   12,702,902 600,610 SH   SOLE   600,610 0 0
ISHARES INC MSCI BRAZIL ETF 464286400   2,635,746 81,300 SH   SOLE   81,300 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822   1,434,135 20,100 SH   SOLE   20,100 0 0
ISHARES INC MSCI MEXICO ETF 464286822   2,900,624 41,850 SH   SOLE   41,850 0 0
ISHARES INC MSCI STH KOR ETF 464286772   1,352,602 20,155 SH   SOLE   20,155 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772   1,335,536 27,435 SH   SOLE   27,435 0 0
ISHARES TR CORE HIGH DV ETF 46429B663   8,071,780 73,240 SH   SOLE   73,240 0 0
ISHARES TR CORE S&P500 ETF 464287200   9,457,357 17,989 SH   SOLE   17,989 0 0
ISHARES TR IBOXX HI YD ETF 464288513   19,831,255 255,130 SH   SOLE   255,130 0 0
ISHARES TR ISHARES BIOTECH 464287556   5,954,662 43,395 SH   SOLE   43,395 0 0
ISHARES TR MICRO-CAP ETF 464288869   4,288,308 35,385 SH   SOLE   35,385 0 0
ISHARES TR PFD AND INCM SEC 464288687   2,641,893 81,970 SH   SOLE   81,970 0 0
ISHARES TR S&P 500 VAL ETF 464287408   9,696,373 51,905 SH   SOLE   51,905 0 0
NEUBERGER BERMAN ENERGY INFR COM 64129H104   853,977 115,872 SH   SOLE   115,872 0 0
PROLOGIS INC. COM 74340W103   5,521,979 42,405 SH   SOLE   42,405 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400   1,101,815 16,750 SH   SOLE   16,750 0 0
SPDR SER TR S&P BIOTECH 78464A870   2,970,057 31,300 SH   SOLE   31,300 0 0
SPDR SER TR S&P REGL BKG 78464A698   5,767,116 114,700 SH   SOLE   114,700 0 0
TALOS ENERGY INC COM 87484T108   1,947,135 139,780 SH   SOLE   139,780 0 0
VANGUARD BD INDEX FDS SHORT TRM BOND 921937827   12,638,666 164,845 SH   SOLE   164,845 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751   4,322,637 18,910 SH   SOLE   18,910 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858   9,884,035 236,630 SH   SOLE   236,630 0 0
VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT 921943858   18,119,397 361,160 SH   SOLE   361,160 0 0