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 NPV | COMMON STOCK | 002824100 | 1,026 | 25,500 | SH | | SOLE | 0 | 25,500 | 0 | 0 |
ABBVIE INC | COMMON STOCK | 00287Y109 | 2,503 | 46,000 | SH | | SOLE | 0 | 46,000 | 0 | 0 |
AERCAP HOLDINGS NV | COMMON STOCK | N00985106 | 1,107 | 28,960 | SH | | SOLE | 0 | 28,960 | 0 | 0 |
ALEXANDRIA REAL ESTATE | COMMON STOCK | 015271109 | 1,016 | 12,000 | SH | | SOLE | 0 | 12,000 | 0 | 0 |
AMERICAN ASSETS TRUST INC USD0.01 | COMMON STOCK | 024013104 | 30,854 | 755,124 | SH | | SOLE | 0 | 755,124 | 0 | 0 |
AMERICAN CAMPUS COMMUNITIES | COMMON STOCK | 024835100 | 435 | 12,000 | SH | | SOLE | 0 | 12,000 | 0 | 0 |
AMERICAN ELECTRIC POWER CO INC COM STK USD6.50 | COMMON STOCK | 025537101 | 2,843 | 50,000 | SH | | SOLE | 0 | 50,000 | 0 | 0 |
AMERICAN INTERNATIONAL GROUP INC | COMMON STOCK | 026874784 | 6,612 | 116,370 | SH | | SOLE | 0 | 116,370 | 0 | 0 |
ANADARKO PETROLEUM CORP | COMMON STOCK | 032511107 | 1,783 | 29,520 | SH | | SOLE | 0 | 29,520 | 0 | 0 |
ANNALY CAPITAL MANAGEMENT INC | COMMON STOCK | 035710409 | 1,276 | 129,290 | SH | | SOLE | 0 | 129,290 | 0 | 0 |
APOLLO EDUCATION GROUP INC | COMMON STOCK | 037604105 | 387 | 35,000 | SH | | SOLE | 0 | 35,000 | 0 | 0 |
APPLE INC COM STK NPV | COMMON STOCK | 037833100 | 5,791 | 52,500 | SH | | SOLE | 0 | 52,500 | 0 | 0 |
AT&T INC USD1 | COMMON STOCK | 00206R102 | 1,303 | 40,000 | SH | | SOLE | 0 | 40,000 | 0 | 0 |
AVALONBAY COMMUNITIES INC USD0.01 | COMMON STOCK | 053484101 | 909 | 5,200 | SH | | SOLE | 0 | 5,200 | 0 | 0 |
BAKER HUGHES INC COM STK USD1 | COMMON STOCK | 057224107 | 2,862 | 55,000 | SH | | SOLE | 0 | 55,000 | 0 | 0 |
BANCO SANTANDER SA ADR EACH 1 REPR 1 ORD EUR0.50 | COMMON STOCK | 05964H105 | 705 | 133,536 | SH | | SOLE | 0 | 133,536 | 0 | 0 |
BANK OF AMERICA CORP COM STK USD0.01 | COMMON STOCK | 060505104 | 2,515 | 161,430 | SH | | SOLE | 0 | 161,430 | 0 | 0 |
BANK OF MONTREAL COM STK CAD | COMMON STOCK | 063671101 | 1,364 | 25,000 | SH | | SOLE | 0 | 25,000 | 0 | 0 |
BANK OF NEW YORK MELLON CORP | COMMON STOCK | 064058100 | 560 | 14,300 | SH | | SOLE | 0 | 14,300 | 0 | 0 |
BANK OF NOVA SCOTIA | COMMON STOCK | 064149107 | 1,763 | 40,000 | SH | | SOLE | 0 | 40,000 | 0 | 0 |
BAXALTA INC | COMMON STOCK | 07177M103 | 2,338 | 74,200 | SH | | SOLE | 0 | 74,200 | 0 | 0 |
BAXTER INTERNATIONAL INC COM STK USD1 | COMMON STOCK | 071813109 | 2,437 | 74,200 | SH | | SOLE | 0 | 74,200 | 0 | 0 |
BECTON DICKINSON & CO USD1 | COMMON STOCK | 075887109 | 663 | 5,000 | SH | | SOLE | 0 | 5,000 | 0 | 0 |
BP AMOCO P.L.C ADR-EACH CNV INTO 6 ORD USD0.25 | COMMON STOCK | 055622104 | 6,442 | 210,810 | SH | | SOLE | 0 | 210,810 | 0 | 0 |
BRISTOL-MYERS SQUIBB CO COM STK USD0.10 | COMMON STOCK | 110122108 | 2,960 | 50,000 | SH | | SOLE | 0 | 50,000 | 0 | 0 |
BUCKEYE PARTNERS LP UNITS OF LTD PARTNERSHIP | COMMON STOCK | 118230101 | 652 | 11,000 | SH | | SOLE | 0 | 11,000 | 0 | 0 |
CADIZ INC NEW | COMMON STOCK | 127537207 | 73 | 10,000 | SH | | SOLE | 0 | 10,000 | 0 | 0 |
CAPITAL ONE FINANCIAL CORP COM STK USD0.01 | COMMON STOCK | 14040H105 | 1,523 | 21,000 | SH | | SOLE | 0 | 21,000 | 0 | 0 |
CARDINAL HEALTH INC COM STK NPV | COMMON STOCK | 14149Y108 | 1,558 | 20,277 | SH | | SOLE | 0 | 20,277 | 0 | 0 |
CARNIVAL CORP COM STK USD0.01(PAIRED STOCK) | COMMON STOCK | 143658300 | 746 | 15,000 | SH | | SOLE | 0 | 15,000 | 0 | 0 |
CHEVRON CORP COM STK USD0.75 | COMMON STOCK | 166764100 | 4,983 | 63,170 | SH | | SOLE | 0 | 63,170 | 0 | 0 |
CHICAGO BRIDGE & IRON CO NV | COMMON STOCK | 167250109 | 633 | 15,950 | SH | | SOLE | 0 | 15,950 | 0 | 0 |
CITIGROUP INC USD0.01 | COMMON STOCK | 172967424 | 2,084 | 42,000 | SH | | SOLE | 0 | 42,000 | 0 | 0 |
COCA-COLA CO COM STK USD0.25 | COMMON STOCK | 191216100 | 2,247 | 56,000 | SH | | SOLE | 0 | 56,000 | 0 | 0 |
CORESITE REALTY CORP USD0.01 | COMMON STOCK | 21870Q105 | 1,543 | 30,000 | SH | | SOLE | 0 | 30,000 | 0 | 0 |
CORNING INC | COMMON STOCK | 219350105 | 342 | 20,000 | SH | | SOLE | 0 | 20,000 | 0 | 0 |
CYRUSONE INC REIT USD 0.01 | COMMON STOCK | 23283R100 | 2,221 | 68,000 | SH | | SOLE | 0 | 68,000 | 0 | 0 |
DEERE & CO. | COMMON STOCK | 244199105 | 851 | 11,500 | SH | | SOLE | 0 | 11,500 | 0 | 0 |
DEUTSCHE BANK AG | COMMON STOCK | D18190898 | 3,574 | 132,577 | SH | | SOLE | 0 | 132,577 | 0 | 0 |
DIGITAL REALTY TRUST INC USD0.01 | COMMON STOCK | 253868103 | 271 | 4,150 | SH | | SOLE | 0 | 4,150 | 0 | 0 |
DOW CHEMICAL CO | COMMON STOCK | 260543103 | 2,118 | 49,945 | SH | | SOLE | 0 | 49,945 | 0 | 0 |
DUKE ENERGY CORP COM STK NPV | COMMON STOCK | 26441C204 | 1,199 | 16,666 | SH | | SOLE | 0 | 16,666 | 0 | 0 |
EBAY INC | COMMON STOCK | 278642103 | 1,211 | 49,545 | SH | | SOLE | 0 | 49,545 | 0 | 0 |
EI DU PONT DE NEMOURS & CO | COMMON STOCK | 263534109 | 482 | 10,000 | SH | | SOLE | 0 | 10,000 | 0 | 0 |
EMC CORP - MASS | COMMON STOCK | 268648102 | 2,827 | 117,000 | SH | | SOLE | 0 | 117,000 | 0 | 0 |
ENBRIDGE ENERGY PARTNERS LP | COMMON STOCK | 29250R106 | 544 | 22,000 | SH | | SOLE | 0 | 22,000 | 0 | 0 |
ENCANA CORP COMMON STOCK CAD | COMMON STOCK | 292505104 | 193 | 30,000 | SH | | SOLE | 0 | 30,000 | 0 | 0 |
EOG RESOURCES INC USD0.01 | COMMON STOCK | 26875P101 | 204 | 2,800 | SH | | SOLE | 0 | 2,800 | 0 | 0 |
EQUITY RESIDENTIAL PROPERTIES TRUST | COMMON STOCK | 29476L107 | 901 | 12,000 | SH | | SOLE | 0 | 12,000 | 0 | 0 |
EXPRESS SCRIPTS HLDG CO USD0.01 | COMMON STOCK | 30219G108 | 729 | 9,000 | SH | | SOLE | 0 | 9,000 | 0 | 0 |
EXXON MOBIL CORP COM STK NPV | COMMON STOCK | 30231G102 | 2,520 | 33,900 | SH | | SOLE | 0 | 33,900 | 0 | 0 |
FORD MOTOR CO USD 0.01 | COMMON STOCK | 345370860 | 2,867 | 211,300 | SH | | SOLE | 0 | 211,300 | 0 | 0 |
FREEPORT-MCMORAN COPPER & GOLD INC COM STK USD0.10 | COMMON STOCK | 35671D857 | 727 | 75,000 | SH | | SOLE | 0 | 75,000 | 0 | 0 |
GAMESTOP CORP CLASS A | COMMON STOCK | 36467W109 | 1,375 | 33,360 | SH | | SOLE | 0 | 33,360 | 0 | 0 |
GENERAL ELECTRIC CO. COM STK USD0.06 | COMMON STOCK | 369604103 | 10,088 | 400,000 | SH | | SOLE | 0 | 400,000 | 0 | 0 |
GENERAL MILLS INC | COMMON STOCK | 370334104 | 1,123 | 20,000 | SH | | SOLE | 0 | 20,000 | 0 | 0 |
GENERAL MOTORS CO USD 0.01 | COMMON STOCK | 37045V100 | 6,356 | 211,720 | SH | | SOLE | 0 | 211,720 | 0 | 0 |
GLAXOSMITHKLINE PLC ADR USD | COMMON STOCK | 37733W105 | 385 | 10,000 | SH | | SOLE | 0 | 10,000 | 0 | 0 |
GOLDMAN SACHS GROUP INC COM STK USD0.01 | COMMON STOCK | 38141G104 | 2,181 | 12,550 | SH | | SOLE | 0 | 12,550 | 0 | 0 |
GOOGLE INC CL A | COMMON STOCK | 38259P508 | 1,021 | 1,600 | SH | | SOLE | 0 | 1,600 | 0 | 0 |
GOOGLE INC CL C | COMMON STOCK | 38259P706 | 976 | 1,604 | SH | | SOLE | 0 | 1,604 | 0 | 0 |
HALCON RESOURCES CORP | COMMON STOCK | 40537Q209 | 22 | 41,209 | SH | | SOLE | 0 | 41,209 | 0 | 0 |
HALLIBURTON CO COM STK USD2.50 | COMMON STOCK | 406216101 | 2,788 | 78,870 | SH | | SOLE | 0 | 78,870 | 0 | 0 |
HARTFORD FINANCIAL SERVICES GRP INC COM STK | COMMON STOCK | 416515104 | 3,668 | 80,119 | SH | | SOLE | 0 | 80,119 | 0 | 0 |
HEWLETT-PACKARD CO COM STK USD0.01 | COMMON STOCK | 428236103 | 3,252 | 127,000 | SH | | SOLE | 0 | 127,000 | 0 | 0 |
HOST HOTELS & RESORTS INC USD0.01 | COMMON STOCK | 44107P104 | 711 | 45,000 | SH | | SOLE | 0 | 45,000 | 0 | 0 |
INTERNATIONAL BUSINESS MACHINES CORP | COMMON STOCK | 459200101 | 1,160 | 8,000 | SH | | SOLE | 0 | 8,000 | 0 | 0 |
ITC HOLDINGS CORP | COMMON STOCK | 465685105 | 1,341 | 40,210 | SH | | SOLE | 0 | 40,210 | 0 | 0 |
ILLINOIS TOOL WORKS INC | COMMON STOCK | 452308109 | 1,668 | 20,260 | SH | | SOLE | 0 | 20,260 | 0 | 0 |
JOHNSON & JOHNSON COM STK USD1 | COMMON STOCK | 478160104 | 5,164 | 55,320 | SH | | SOLE | 0 | 55,320 | 0 | 0 |
JPMORGAN CHASE & CO COM STK USD1 | COMMON STOCK | 46625H100 | 9,666 | 158,540 | SH | | SOLE | 0 | 158,540 | 0 | 0 |
KINDER MORGAN INC DELAWARE USD0.01 | COMMON STOCK | 49456B101 | 1,215 | 43,902 | SH | | SOLE | 0 | 43,902 | 0 | 0 |
LAS VEGAS SANDS CORP | COMMON STOCK | 517834107 | 759 | 20,000 | SH | | SOLE | 0 | 20,000 | 0 | 0 |
MACERICH CO COM STK USD0.01 | COMMON STOCK | 554382101 | 756 | 9,842 | SH | | SOLE | 0 | 9,842 | 0 | 0 |
MALLINCKRODT PLC COMMON STOCK USD 0.2 | COMMON STOCK | G5785G107 | 256 | 4,000 | SH | | SOLE | 0 | 4,000 | 0 | 0 |
MARKWEST ENERGY PARTNERS LP | COMMON STOCK | 570759100 | 215 | 5,000 | SH | | SOLE | 0 | 5,000 | 0 | 0 |
MEDTRONIC PLC | COMMON STOCK | G5960L103 | 6,115 | 91,352 | SH | | SOLE | 0 | 91,352 | 0 | 0 |
MERCK & CO INC(NEW) COM STK USD0.50 | COMMON STOCK | 58933Y105 | 3,709 | 75,100 | SH | | SOLE | 0 | 75,100 | 0 | 0 |
METLIFE INC COM STK USD0.01 | COMMON STOCK | 59156R108 | 2,089 | 44,304 | SH | | SOLE | 0 | 44,304 | 0 | 0 |
MICROSOFT CORP COM STK USD0.00000625 | COMMON STOCK | 594918104 | 6,265 | 141,550 | SH | | SOLE | 0 | 141,550 | 0 | 0 |
MORGAN STANLEY COM STK USD0.01 | COMMON STOCK | 617446448 | 945 | 30,000 | SH | | SOLE | 0 | 30,000 | 0 | 0 |
MOSAIC CO | COMMON STOCK | 61945C103 | 535 | 17,200 | SH | | SOLE | 0 | 17,200 | 0 | 0 |
NEWMONT MINING CORP | COMMON STOCK | 651639106 | 964 | 60,000 | SH | | SOLE | 0 | 60,000 | 0 | 0 |
NOVARTIS AG ADR EACH REPR 1 CHF0.50(REGD) | COMMON STOCK | 66987V109 | 4,758 | 51,760 | SH | | SOLE | 0 | 51,760 | 0 | 0 |
ORACLE CORP COM STK USD0.01 | COMMON STOCK | 68389X105 | 2,369 | 65,600 | SH | | SOLE | 0 | 65,600 | 0 | 0 |
OSHKOSH CORPORATION | COMMON STOCK | 688239201 | 2,226 | 61,270 | SH | | SOLE | 0 | 61,270 | 0 | 0 |
PARAGON OFFSHORE PLC | COMMON STOCK | G6S01W108 | 12 | 48,000 | SH | | SOLE | 0 | 48,000 | 0 | 0 |
PAYPAL HOLDINGS INC | COMMON STOCK | 70450Y103 | 1,538 | 49,545 | SH | | SOLE | 0 | 49,545 | 0 | 0 |
PEPSICO INC CAP STK USD0.0166 | COMMON STOCK | 713445108 | 3,565 | 37,800 | SH | | SOLE | 0 | 37,800 | 0 | 0 |
PFIZER INC COM STK USD0.05 | COMMON STOCK | 717081103 | 3,612 | 115,000 | SH | | SOLE | 0 | 115,000 | 0 | 0 |
PHILIP MORRIS INTERNATIONAL INC NPV | COMMON STOCK | 718172109 | 397 | 5,000 | SH | | SOLE | 0 | 5,000 | 0 | 0 |
PINNACLE WEST CAPITAL CORP COM STK USD2.50 | COMMON STOCK | 723484101 | 3,207 | 50,000 | SH | | SOLE | 0 | 50,000 | 0 | 0 |
PIONEER NATURAL RESOURCE | COMMON STOCK | 723787907 | 2,478 | 20,370 | SH | | SOLE | 0 | 20,370 | 0 | 0 |
PPL CORP COM STK USD0.01 | COMMON STOCK | 69351T106 | 2,302 | 70,000 | SH | | SOLE | 0 | 70,000 | 0 | 0 |
PRUDENTIAL FINANCIAL INC COM STK USD0.01 | COMMON STOCK | 744320102 | 1,981 | 26,000 | SH | | SOLE | 0 | 26,000 | 0 | 0 |
QUALCOMM INC COM STK USD0.0001 | COMMON STOCK | 747525103 | 2,885 | 53,700 | SH | | SOLE | 0 | 53,700 | 0 | 0 |
QUEST DIAGNOSTICS INC | COMMON STOCK | 74834L100 | 922 | 15,000 | SH | | SOLE | 0 | 15,000 | 0 | 0 |
ROYAL BANK OF CANADA COMMON STOCK CAD 0 | COMMON STOCK | 780087102 | 2,486 | 45,000 | SH | | SOLE | 0 | 45,000 | 0 | 0 |
ROYAL DUTCH SHELL ADR EACH REPR 2'A'SHS | COMMON STOCK | 780259206 | 3,487 | 73,572 | SH | | SOLE | 0 | 73,572 | 0 | 0 |
SANOFI ADR ECH REP 1/2 ORD EUR2 SPON | COMMON STOCK | 80105N105 | 2,136 | 45,000 | SH | | SOLE | 0 | 45,000 | 0 | 0 |
SCHLUMBERGER COM STK USD0.01 | COMMON STOCK | 806857108 | 3,643 | 52,822 | SH | | SOLE | 0 | 52,822 | 0 | 0 |
SIMON PROPERTY GROUP INC | COMMON STOCK | 828806109 | 4,170 | 22,700 | SH | | SOLE | 0 | 22,700 | 0 | 0 |
STARWOOD HTLS WRLD PAIRED CERT CLASS'B'USD0.01 | COMMON STOCK | 85590A401 | 1,330 | 20,000 | SH | | SOLE | 0 | 20,000 | 0 | 0 |
STRYKER CORP COM STK USD0.10 | COMMON STOCK | 863667101 | 1,186 | 12,600 | SH | | SOLE | 0 | 12,600 | 0 | 0 |
TANGER FACTORY OUTLET CENTER | COMMON STOCK | 875465106 | 1,813 | 55,000 | SH | | SOLE | 0 | 55,000 | 0 | 0 |
TAUBMAN CENTERS INC | COMMON STOCK | 876664103 | 4,015 | 58,125 | SH | | SOLE | 0 | 58,125 | 0 | 0 |
TE CONNECTIVITY | COMMON STOCK | H84989104 | 1,727 | 28,840 | SH | | SOLE | 0 | 28,840 | 0 | 0 |
TELEFONICA SA ADR EACH REPR 1 ORD EUR1 | COMMON STOCK | 879382208 | 619 | 51,427 | SH | | SOLE | 0 | 51,427 | 0 | 0 |
TIME WARNER INC | COMMON STOCK | 887317303 | 1,115 | 16,220 | SH | | SOLE | 0 | 16,220 | 0 | 0 |
TORONTO-DOMINION BANK COM STOCK CAD 0 | COMMON STOCK | 891160509 | 2,365 | 60,000 | SH | | SOLE | 0 | 60,000 | 0 | 0 |
TOWN SPORTS INTL HLDGS INC | COMMON STOCK | 89214A102 | 72 | 27,308 | SH | | SOLE | 0 | 27,308 | 0 | 0 |
TRANSOCEAN LTD CHF15 | COMMON STOCK | H8817H100 | 504 | 39,000 | SH | | SOLE | 0 | 39,000 | 0 | 0 |
UNILEVER ADS-EACH REPR 1 ORD(JPM) | COMMON STOCK | 904767704 | 6,117 | 150,000 | SH | | SOLE | 0 | 150,000 | 0 | 0 |
URBAN EDGE PROPERTIES REIT USD 0.01 | COMMON STOCK | 91704F104 | 2,267 | 105,000 | SH | | SOLE | 0 | 105,000 | 0 | 0 |
VENTAS INC | COMMON STOCK | 92276F100 | 1,121 | 20,000 | SH | | SOLE | 0 | 20,000 | 0 | 0 |
VERIZON COMMUNICATIONS INC COM STK USD0.10 | COMMON STOCK | 92343V104 | 6,091 | 140,000 | SH | | SOLE | 0 | 140,000 | 0 | 0 |
WALGREEN BOOTS ALLIANCE INC | COMMON STOCK | 931427108 | 4,885 | 58,780 | SH | | SOLE | 0 | 58,780 | 0 | 0 |
WELLS FARGO & CO COM STK USD1 2/3 | COMMON STOCK | 949746101 | 46,010 | 896,000 | SH | | SOLE | 0 | 896,000 | 0 | 0 |
WELLTOWER INC | COMMON STOCK | 95040Q104 | 677 | 10,000 | SH | | SOLE | 0 | 10,000 | 0 | 0 |
WILLIAMS SONOMA INC | COMMON STOCK | 969904101 | 1,079 | 14,130 | SH | | SOLE | 0 | 14,130 | 0 | 0 |
WYNN RESORTS LTD COM STK USD0.01 | COMMON STOCK | 983134107 | 319 | 6,000 | SH | | SOLE | 0 | 6,000 | 0 | 0 |