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
Estimated average burden
hours per response: 23.8
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBOTT LABS COM 002824100 2,426 49,900 SH   OTR   0 49,900 0
ABBVIE INC COM 00287Y109 2,995 41,300 SH   OTR   0 41,300 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 504 4,180 SH   OTR   0 4,180 0
ALPHABET INC CAP STK CL C 02079K107 3,726 4,100 SH   OTR   0 4,100 0
ALTRIA GROUP INC COM 02209S103 4,922 66,100 SH   OTR   0 66,100 0
AMERICAN EXPRESS CO COM 025816109 2,190 26,000 SH   OTR   0 26,000 0
AMERICAN HOMES 4 RENT CL A 02665T306 458 20,300 SH   OTR   0 20,300 0
APARTMENT INVT & MGMT CO CL A 03748R101 248 5,775 SH   OTR   0 5,775 0
APPLE INC COM 037833100 9,275 64,400 SH   OTR   0 64,400 0
AUTOMATIC DATA PROCESSING IN COM 053015103 1,537 15,000 SH   OTR   0 15,000 0
AVALONBAY CMNTYS INC COM 053484101 1,005 5,228 SH   OTR   0 5,228 0
BLACKROCK INC COM 09247X101 2,534 6,000 SH   OTR   0 6,000 0
BOSTON PROPERTIES INC COM 101121101 483 3,925 SH   OTR   0 3,925 0
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 1,919 28,000 SH   OTR   0 28,000 0
CANADIAN PAC RY LTD COM 13645T100 2,734 17,000 SH   OTR   0 17,000 0
CELGENE CORP COM 151020104 948 7,300 SH   OTR   0 7,300 0
CHEVRON CORP NEW COM 166764100 3,735 35,800 SH   OTR   0 35,800 0
COCA COLA CO COM 191216100 4,552 101,500 SH   OTR   0 101,500 0
COMCAST CORP NEW CL A 20030N101 2,164 55,600 SH   OTR   0 55,600 0
CONOCOPHILLIPS COM 20825C104 1,635 37,200 SH   OTR   0 37,200 0
CORESITE RLTY CORP COM 21870Q105 378 3,650 SH   OTR   0 3,650 0
CUBESMART COM 229663109 275 11,450 SH   OTR   0 11,450 0
CYRUSONE INC COM 23283R100 213 3,825 SH   OTR   0 3,825 0
DDR CORP COM 23317H102 271 29,855 SH   OTR   0 29,855 0
DIAGEO P L C SPON ADR NEW 25243Q205 2,888 24,100 SH   OTR   0 24,100 0
DIGITAL RLTY TR INC COM 253868103 277 2,450 SH   OTR   0 2,450 0
DISNEY WALT CO COM DISNEY 254687106 2,391 22,500 SH   OTR   0 22,500 0
DOUGLAS EMMETT INC COM 25960P109 412 10,785 SH   OTR   0 10,785 0
EQUINIX INC COM PAR $0.001 29444U700 837 1,950 SH   OTR   0 1,950 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 876 13,305 SH   OTR   0 13,305 0
ESSEX PPTY TR INC COM 297178105 514 1,998 SH   OTR   0 1,998 0
EXTRA SPACE STORAGE INC COM 30225T102 376 4,825 SH   OTR   0 4,825 0
EXXON MOBIL CORP COM 30231G102 4,920 60,942 SH   OTR   0 60,942 0
FACEBOOK INC CL A 30303M102 6,024 39,900 SH   OTR   0 39,900 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 221 1,750 SH   OTR   0 1,750 0
GGP INC COM 36174X101 247 10,505 SH   OTR   0 10,505 0
HCP INC COM 40414L109 813 25,425 SH   OTR   0 25,425 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 144 4,925 SH   OTR   0 4,925 0
HOST HOTELS & RESORTS INC COM 44107P104 479 26,195 SH   OTR   0 26,195 0
HUDSON PAC PPTYS INC COM 444097109 391 11,425 SH   OTR   0 11,425 0
IMPERIAL OIL LTD COM NEW 453038408 1,036 35,500 SH   OTR   0 35,500 0
JPMORGAN CHASE & CO COM 46625H100 4,844 53,000 SH   OTR   0 53,000 0
JOHNSON & JOHNSON COM 478160104 1,786 13,500 SH   OTR   0 13,500 0
KILROY RLTY CORP COM 49427F108 180 2,400 SH   OTR   0 2,400 0
KIMCO RLTY CORP COM 49446R109 290 15,800 SH   OTR   0 15,800 0
KITE RLTY GROUP TR COM NEW 49803T300 191 10,075 SH   OTR   0 10,075 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 180 6,050 SH   OTR   0 6,050 0
LAUDER ESTEE COS INC CL A 518439104 1,920 20,000 SH   OTR   0 20,000 0
LIBERTY PPTY TR SH BEN INT 531172104 514 12,625 SH   OTR   0 12,625 0
LIFE STORAGE INC COM 53223X107 409 5,525 SH   OTR   0 5,525 0
MACERICH CO COM 554382101 581 10,010 SH   OTR   0 10,010 0
MCDONALDS CORP COM 580135101 2,941 19,200 SH   OTR   0 19,200 0
MICROSOFT CORP COM 594918104 5,907 85,700 SH   OTR   0 85,700 0
MONDELEZ INTL INC CL A 609207105 1,308 30,278 SH   OTR   0 30,278 0
NOVARTIS A G SPONSORED ADR 66987V109 2,045 24,500 SH   OTR   0 24,500 0
NOVO-NORDISK A S ADR 670100205 3,307 77,100 SH   OTR   0 77,100 0
OCCIDENTAL PETE CORP DEL COM 674599105 1,976 33,000 SH   OTR   0 33,000 0
PARK HOTELS RESORTS INC COM 700517105 149 5,512 SH   OTR   0 5,512 0
PEBBLEBROOK HOTEL TR COM 70509V100 216 6,700 SH   OTR   0 6,700 0
PEPSICO INC COM 713448108 2,830 24,500 SH   OTR   0 24,500 0
PHILIP MORRIS INTL INC COM 718172109 9,290 79,100 SH   OTR   0 79,100 0
PHILLIPS 66 COM 718546104 703 8,500 SH   OTR   0 8,500 0
PRAXAIR INC COM 74005P104 1,922 14,500 SH   OTR   0 14,500 0
PROCTER AND GAMBLE CO COM 742718109 1,874 21,500 SH   OTR   0 21,500 0
PROLOGIS INC COM 74340W103 1,255 21,398 SH   OTR   0 21,398 0
PUBLIC STORAGE COM 74460D109 703 3,370 SH   OTR   0 3,370 0
REGENCY CTRS CORP COM 758849103 350 5,595 SH   OTR   0 5,595 0
S&P GLOBAL INC COM 78409V104 3,504 24,000 SH   OTR   0 24,000 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 6,175 166,000 SH   SOLE   166,000 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 326 15,944 SH   OTR   0 15,944 0
SIMON PPTY GROUP INC NEW COM 828806109 1,577 9,747 SH   OTR   0 9,747 0
STATE STR CORP COM 857477103 2,333 26,000 SH   OTR   0 26,000 0
SUN CMNTYS INC COM 866674104 232 2,650 SH   OTR   0 2,650 0
TAUBMAN CTRS INC COM 876664103 173 2,900 SH   OTR   0 2,900 0
TEXAS INSTRS INC COM 882508104 3,346 43,500 SH   OTR   0 43,500 0
TOTAL S A SPONSORED ADR 89151E109 1,810 36,500 SH   OTR   0 36,500 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 1,706 60,200 SH   OTR   0 60,200 0
UDR INC COM 902653104 347 8,900 SH   OTR   0 8,900 0
UNION PAC CORP COM 907818108 1,743 16,000 SH   OTR   0 16,000 0
UNITED TECHNOLOGIES CORP COM 913017109 1,624 13,300 SH   OTR   0 13,300 0
VENTAS INC COM 92276F100 389 5,600 SH   OTR   0 5,600 0
VISA INC COM CL A 92826C839 375 4,000 SH   OTR   0 4,000 0
VISA INC COM CL A 92826C839 2,635 28,100 SH   OTR   0 28,100 0
VORNADO RLTY TR SH BEN INT 929042109 629 6,700 SH   OTR   0 6,700 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 2,067 26,400 SH   OTR   0 26,400 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 442 14,700 SH   OTR   0 14,700 0
WELLTOWER INC COM 95040Q104 741 9,894 SH   OTR   0 9,894 0
WHOLE FOODS MKT INC COM 966837106 699 16,600 SH   OTR   0 16,600 0
CHUBB LIMITED COM H1467J104 3,635 25,000 SH   OTR   0 25,000 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 2,020 15,500 SH   OTR   0 15,500 0
APARTMENT INVT & MGMT CO PFD CL A 6.875% 03748R762 435 16,050 SH   OTR   0 16,050 0
URSTADT BIDDLE PPTYS INC PFD-G CV 6.75% 917286809 203 7,700 SH   OTR   0 7,700 0