Pensionfund Sabic 13F-HR Quarterly holdings report by institutional manager

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	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M CO	COMMON STOCK	88579Y101	2,239	16,400	SH		SOLE	0	0	0	16,400
A SITE CENTER REIT	COMMON STOCK	23317H854	52	10,000	SH		SOLE	0	0	0	10,000
ABBVIE INC	COMMON STOCK	00287Y109	2,781	36,500	SH		SOLE	0	0	0	36,500
AFLAC INC	COMMON STOCK	001055102	1,229	35,900	SH		SOLE	0	0	0	35,900
AGNC INVESTMENT CORP	COMMON STOCK	00123Q104	868	82,000	SH		SOLE	0	0	0	82,000
ALEXANDRIA REAL ESTATE EQUIT	COMMON STOCK	015271109	1,446	10,550	SH		SOLE	0	0	0	10,550
ALLEGHANY CORP	COMMON STOCK	017175100	1,270	2,300	SH		SOLE	0	0	0	2,300
ALLSTATE CORP	COMMON STOCK	020002101	1,798	19,600	SH		SOLE	0	0	0	19,600
AMERICAN CAMPUS COMMUNITIES	COMMON STOCK	024835100	869	31,300	SH		SOLE	0	0	0	31,300
AMERICAN FINANCIAL GROUP INC	COMMON STOCK	025932104	981	14,000	SH		SOLE	0	0	0	14,000
AMERICAN HOMES 4 RENT- A	COMMON STOCK	02665T306	1,021	44,000	SH		SOLE	0	0	0	44,000
AMERIPRISE FINANCIAL INC	COMMON STOCK	03076C106	1,342	13,100	SH		SOLE	0	0	0	13,100
AMGEN INC	COMMON STOCK	031162100	2,940	14,500	SH		SOLE	0	0	0	14,500
ANNALY CAPITAL MANAGEMENT IN	COMMON STOCK	035710409	837	165,000	SH		SOLE	0	0	0	165,000
ANTHEM INC	COMMON STOCK	036752103	1,964	8,650	SH		SOLE	0	0	0	8,650
APARTMENT INVT and MGMT CO -A	COMMON STOCK	03748R754	974	27,709	SH		SOLE	0	0	0	27,709
APPLE HOSPITALITY REIT INC	COMMON STOCK	03784Y200	119	13,000	SH		SOLE	0	0	0	13,000
APPLE INC	COMMON STOCK	037833100	8,537	33,570	SH		SOLE	0	0	0	33,570
ARMADA HOFFLER PROPERTIES IN	COMMON STOCK	04208T108	140	13,101	SH		SOLE	0	0	0	13,101
ATandT INC	COMMON STOCK	00206R102	3,760	129,000	SH		SOLE	0	0	0	129,000
AUTOMATIC DATA PROCESSING	COMMON STOCK	053015103	2,050	15,000	SH		SOLE	0	0	0	15,000
AUTOZONE INC	COMMON STOCK	053332102	1,481	1,750	SH		SOLE	0	0	0	1,750
AVALONBAY COMMUNITIES INC	COMMON STOCK	053484101	1,663	11,302	SH		SOLE	0	0	0	11,302
AVERY DENNISON CORP	COMMON STOCK	053611109	1,518	14,900	SH		SOLE	0	0	0	14,900
BAXTER INTERNATIONAL INC	COMMON STOCK	071813109	1,949	24,000	SH		SOLE	0	0	0	24,000
BEST BUY CO INC	COMMON STOCK	086516101	1,328	23,300	SH		SOLE	0	0	0	23,300
BIOGEN INC	COMMON STOCK	09062X103	2,373	7,500	SH		SOLE	0	0	0	7,500
BLACKROCK INC	COMMON STOCK	09247X101	2,068	4,700	SH		SOLE	0	0	0	4,700
BOOKING HOLDINGS INC	COMMON STOCK	741503403	1,749	1,300	SH		SOLE	0	0	0	1,300
BOSTON PROPERTIES INC	COMMON STOCK	101121101	628	6,814	SH		SOLE	0	0	0	6,814
BRANDYWINE REALTY TRUST	COMMON STOCK	105368203	752	71,500	SH		SOLE	0	0	0	71,500
BRISTOL-MYERS SQUIBB CO	COMMON STOCK	110122108	3,066	55,000	SH		SOLE	0	0	0	55,000
BRISTOL-MYERS SQUIBB-CVR	COMMON STOCK	110122157	87	23,000	SH		SOLE	0	0	0	23,000
BRIXMOR PROPERTY GROUP INC	COMMON STOCK	11120U105	482	50,711	SH		SOLE	0	0	0	50,711
BROADRIDGE FINANCIAL SOLUTIO	COMMON STOCK	11133T103	1,394	14,700	SH		SOLE	0	0	0	14,700
CAMDEN PROPERTY TRUST	COMMON STOCK	133131102	1,207	15,231	SH		SOLE	0	0	0	15,231
CBL and ASSOCIATES PROPERTIES	COMMON STOCK	124830100	6	32,000	SH		SOLE	0	0	0	32,000
CDW CORP/DE	COMMON STOCK	12514G108	1,373	14,725	SH		SOLE	0	0	0	14,725
CELANESE CORP-SERIES A	COMMON STOCK	150870103	1,138	15,500	SH		SOLE	0	0	0	15,500
CENTERPOINT ENERGY INC	COMMON STOCK	15189T107	1,344	87,000	SH		SOLE	0	0	0	87,000
CERNER CORP	COMMON STOCK	156782104	1,638	26,000	SH		SOLE	0	0	0	26,000
CHATHAM LODGING TRUST	COMMON STOCK	16208T102	53	9,000	SH		SOLE	0	0	0	9,000
CHURCH and DWIGHT CO INC	COMMON STOCK	171340102	1,540	24,000	SH		SOLE	0	0	0	24,000
CINTAS CORP	COMMON STOCK	172908105	1,230	7,100	SH		SOLE	0	0	0	7,100
CISCO SYSTEMS INC	COMMON STOCK	17275R102	3,282	83,500	SH		SOLE	0	0	0	83,500
CITRIX SYSTEMS INC	COMMON STOCK	177376100	2,123	15,000	SH		SOLE	0	0	0	15,000
CLOROX COMPANY	COMMON STOCK	189054109	1,819	10,500	SH		SOLE	0	0	0	10,500
COGNIZANT TECH SOLUTIONS-A	COMMON STOCK	192446102	1,580	34,000	SH		SOLE	0	0	0	34,000
COLGATE-PALMOLIVE CO	COMMON STOCK	194162103	2,090	31,500	SH		SOLE	0	0	0	31,500
COLUMBIA PROPERTY TRUST INC	COMMON STOCK	198287203	375	30,000	SH		SOLE	0	0	0	30,000
CORPORATE OFFICE PROPERTIES	COMMON STOCK	22002T108	343	15,500	SH		SOLE	0	0	0	15,500
COUSINS PROPERTIES INC	COMMON STOCK	222795502	1,139	38,900	SH		SOLE	0	0	0	38,900
CUBESMART	COMMON STOCK	229663109	723	27,000	SH		SOLE	0	0	0	27,000
CYRUSONE INC	COMMON STOCK	23283R100	1,124	18,200	SH		SOLE	0	0	0	18,200
Colony Capital Inc	COMMON STOCK	19625W104	275	157,286	SH		SOLE	0	0	0	157,286
DARDEN RESTAURANTS INC	COMMON STOCK	237194105	752	13,800	SH		SOLE	0	0	0	13,800
DIGITAL REALTY TRUST INC	COMMON STOCK	253868103	2,354	16,947	SH		SOLE	0	0	0	16,947
DOLLAR GENERAL CORP	COMMON STOCK	256677105	2,220	14,700	SH		SOLE	0	0	0	14,700
DOMINION ENERGY INC	COMMON STOCK	25746U109	2,021	28,000	SH		SOLE	0	0	0	28,000
DOUGLAS EMMETT INC	COMMON STOCK	25960P109	275	9,000	SH		SOLE	0	0	0	9,000
DUKE REALTY CORP	COMMON STOCK	264411505	865	26,707	SH		SOLE	0	0	0	26,707
Diversified Healthcare Trust	COMMON STOCK	25525P107	465	128,100	SH		SOLE	0	0	0	128,100
EASTGROUP PROPERTIES INC	COMMON STOCK	277276101	44	422	SH		SOLE	0	0	0	422
EBAY INC	COMMON STOCK	278642103	1,593	53,000	SH		SOLE	0	0	0	53,000
ELI LILLY and CO	COMMON STOCK	532457108	2,982	21,500	SH		SOLE	0	0	0	21,500
EMERSON ELECTRIC CO	COMMON STOCK	291011104	1,353	28,400	SH		SOLE	0	0	0	28,400
EMPIRE STATE REALTY TRUST-A	COMMON STOCK	292104106	260	29,000	SH		SOLE	0	0	0	29,000
EPR PROPERTIES	COMMON STOCK	26884U109	499	20,600	SH		SOLE	0	0	0	20,600
EQUINIX INC	COMMON STOCK	29444U700	1,999	3,200	SH		SOLE	0	0	0	3,200
EQUITY RESIDENTIAL	COMMON STOCK	29476L107	2,317	37,553	SH		SOLE	0	0	0	37,553
ESSENTIAL PROPERTIES REALTY	COMMON STOCK	29670E107	235	18,000	SH		SOLE	0	0	0	18,000
ESSEX PROPERTY TRUST INC	COMMON STOCK	297178105	1,432	6,500	SH		SOLE	0	0	0	6,500
EXELON CORP	COMMON STOCK	30161N101	1,748	47,500	SH		SOLE	0	0	0	47,500
EXPEDITORS INTL WASH INC	COMMON STOCK	302130109	1,454	21,800	SH		SOLE	0	0	0	21,800
EXXON MOBIL CORP	COMMON STOCK	30231G102	2,886	76,000	SH		SOLE	0	0	0	76,000
F5 NETWORKS INC	COMMON STOCK	315616102	1,312	12,300	SH		SOLE	0	0	0	12,300
FACEBOOK INC-A	COMMON STOCK	30303M102	6,172	37,000	SH		SOLE	0	0	0	37,000
FIRSTENERGY CORP	COMMON STOCK	337932107	1,643	41,000	SH		SOLE	0	0	0	41,000
FISERV INC	COMMON STOCK	337738108	1,900	20,000	SH		SOLE	0	0	0	20,000
FOUR CORNERS PROPERTY TRUST	COMMON STOCK	35086T109	112	6,000	SH		SOLE	0	0	0	6,000
GAMING AND LEISURE PROPERTIE	COMMON STOCK	36467J108	845	30,500	SH		SOLE	0	0	0	30,500
GENERAL MILLS INC	COMMON STOCK	370334104	1,952	37,000	SH		SOLE	0	0	0	37,000
GLOBAL MEDICAL REIT INC	COMMON STOCK	37954A204	215	21,200	SH		SOLE	0	0	0	21,200
GLOBAL NET LEASE INC	COMMON STOCK	379378201	521	38,992	SH		SOLE	0	0	0	38,992
GLOBE LIFE INC	COMMON STOCK	37959E102	1,310	18,200	SH		SOLE	0	0	0	18,200
HARTFORD FINANCIAL SVCS GRP	COMMON STOCK	416515104	1,022	29,000	SH		SOLE	0	0	0	29,000
HCP INC	COMMON STOCK	42250P103	1,217	51,007	SH		SOLE	0	0	0	51,007
HEALTHCARE REALTY TRUST INC	COMMON STOCK	421946104	114	4,082	SH		SOLE	0	0	0	4,082
HEALTHCARE TRUST OF AME-CL A	COMMON STOCK	42225P501	923	38,000	SH		SOLE	0	0	0	38,000
HERSHA HOSPITALITY TRUST	COMMON STOCK	427825500	29	8,000	SH		SOLE	0	0	0	8,000
HERSHEY CO/THE	COMMON STOCK	427866108	1,776	13,400	SH		SOLE	0	0	0	13,400
HIGHWOODS PROPERTIES INC	COMMON STOCK	431284108	599	16,898	SH		SOLE	0	0	0	16,898
HOME DEPOT INC	COMMON STOCK	437076102	3,622	19,400	SH		SOLE	0	0	0	19,400
HOST HOTELS and RESORTS INC	COMMON STOCK	44107P104	854	77,343	SH		SOLE	0	0	0	77,343
HP INC	COMMON STOCK	40434L105	1,649	95,000	SH		SOLE	0	0	0	95,000
HUDSON PACIFIC PROPERTIES IN	COMMON STOCK	444097109	596	23,500	SH		SOLE	0	0	0	23,500
HUMANA INC	COMMON STOCK	444859102	2,104	6,700	SH		SOLE	0	0	0	6,700
IDEX CORP	COMMON STOCK	45167R104	1,478	10,700	SH		SOLE	0	0	0	10,700
IDEXX LABORATORIES INC	COMMON STOCK	45168D104	1,647	6,800	SH		SOLE	0	0	0	6,800
ILLINOIS TOOL WORKS	COMMON STOCK	452308109	1,933	13,600	SH		SOLE	0	0	0	13,600
INDUSTRIAL LOGISTICS PROPERT	COMMON STOCK	456237106	1,080	61,572	SH		SOLE	0	0	0	61,572
INGERSOLL-RAND INC	COMMON STOCK	000000000	324	13,059	SH		SOLE	0	0	0	13,059
INNOVATIVE INDUSTRIAL PROPER	COMMON STOCK	45781V101	114	1,500	SH		SOLE	0	0	0	1,500
INTL BUSINESS MACHINES CORP	COMMON STOCK	459200101	2,474	22,300	SH		SOLE	0	0	0	22,300
INTUIT INC	COMMON STOCK	461202103	1,972	8,575	SH		SOLE	0	0	0	8,575
INVITATION HOMES INC	COMMON STOCK	46187W107	634	29,684	SH		SOLE	0	0	0	29,684
IRON MOUNTAIN INC	COMMON STOCK	46284V101	869	36,500	SH		SOLE	0	0	0	36,500
KENNEDY-WILSON HOLDINGS INC	COMMON STOCK	489398107	181	13,509	SH		SOLE	0	0	0	13,509
KILROY REALTY CORP	COMMON STOCK	49427F108	414	6,500	SH		SOLE	0	0	0	6,500
KIMBERLY-CLARK CORP	COMMON STOCK	494368103	2,123	16,600	SH		SOLE	0	0	0	16,600
KIMCO REALTY CORP	COMMON STOCK	49446R109	196	20,295	SH		SOLE	0	0	0	20,295
KITE REALTY GROUP TRUST	COMMON STOCK	49803T300	165	17,400	SH		SOLE	0	0	0	17,400
LAM RESEARCH CORP	COMMON STOCK	512807108	1,920	8,000	SH		SOLE	0	0	0	8,000
LENNOX INTERNATIONAL INC	COMMON STOCK	526107107	1,382	7,600	SH		SOLE	0	0	0	7,600
LEXINGTON REALTY TRUST	COMMON STOCK	529043101	705	71,000	SH		SOLE	0	0	0	71,000
LOEWS CORP	COMMON STOCK	540424108	1,104	31,700	SH		SOLE	0	0	0	31,700
LOWE'S COS INC	COMMON STOCK	548661107	2,048	23,800	SH		SOLE	0	0	0	23,800
Life Storage Inc	COMMON STOCK	53223X107	756	8,000	SH		SOLE	0	0	0	8,000
MACERICH CO/THE	COMMON STOCK	554382101	47	8,266	SH		SOLE	0	0	0	8,266
MACK-CALI REALTY CORP	COMMON STOCK	554489104	320	21,000	SH		SOLE	0	0	0	21,000
MANPOWERGROUP INC	COMMON STOCK	56418H100	848	16,000	SH		SOLE	0	0	0	16,000
MARSH and MCLENNAN COS	COMMON STOCK	571748102	1,876	21,700	SH		SOLE	0	0	0	21,700
MASCO CORP	COMMON STOCK	574599106	1,286	37,200	SH		SOLE	0	0	0	37,200
MASTERCARD INC - A	COMMON STOCK	57636Q104	3,962	16,400	SH		SOLE	0	0	0	16,400
MCDONALD'S CORP	COMMON STOCK	580135101	2,761	16,700	SH		SOLE	0	0	0	16,700
MEDICAL PROPERTIES TRUST INC	COMMON STOCK	58463J304	1,245	72,000	SH		SOLE	0	0	0	72,000
MERCK and CO. INC.	COMMON STOCK	58933Y105	3,770	49,000	SH		SOLE	0	0	0	49,000
METTLER-TOLEDO INTERNATIONAL	COMMON STOCK	592688105	1,637	2,370	SH		SOLE	0	0	0	2,370
MICROSOFT CORP	COMMON STOCK	594918104	8,893	56,390	SH		SOLE	0	0	0	56,390
MID-AMERICA APARTMENT COMM	COMMON STOCK	59522J103	1,520	14,750	SH		SOLE	0	0	0	14,750
MONMOUTH REAL ESTATE INV COR	COMMON STOCK	609720107	627	52,000	SH		SOLE	0	0	0	52,000
MONSTER BEVERAGE CORP	COMMON STOCK	61174X109	1,699	30,200	SH		SOLE	0	0	0	30,200
MOTOROLA SOLUTIONS INC	COMMON STOCK	620076307	1,529	11,500	SH		SOLE	0	0	0	11,500
MSCI INC	COMMON STOCK	55354G100	2,023	7,000	SH		SOLE	0	0	0	7,000
NATL HEALTH INVESTORS INC	COMMON STOCK	63633D104	654	13,200	SH		SOLE	0	0	0	13,200
NEW SENIOR INVESTMENT GROUP	COMMON STOCK	648691103	43	16,863	SH		SOLE	0	0	0	16,863
NEW YORK REIT INC liquidation shs	COMMON STOCK	64976L208	0	2,200	SH		SOLE	0	0	0	2,200
O'REILLY AUTOMOTIVE INC	COMMON STOCK	67103H107	1,505	5,000	SH		SOLE	0	0	0	5,000
OFFICE PROPERTIES INCOME TRUST	COMMON STOCK	67623C109	346	12,714	SH		SOLE	0	0	0	12,714
OMEGA HEALTHCARE INVESTORS	COMMON STOCK	681936100	1,088	41,000	SH		SOLE	0	0	0	41,000
OMNICOM GROUP	COMMON STOCK	681919106	1,466	26,700	SH		SOLE	0	0	0	26,700
PARK HOTELS and RESORTS INC	COMMON STOCK	700517105	72	9,106	SH		SOLE	0	0	0	9,106
PAYCHEX INC	COMMON STOCK	704326107	1,551	24,650	SH		SOLE	0	0	0	24,650
PEBBLEBROOK HOTEL TRUST	COMMON STOCK	70509V100	69	6,355	SH		SOLE	0	0	0	6,355
PEOPLE'S UNITED FINANCIAL	COMMON STOCK	712704105	995	90,000	SH		SOLE	0	0	0	90,000
PEPSICO INC	COMMON STOCK	713448108	3,447	28,700	SH		SOLE	0	0	0	28,700
PFIZER INC	COMMON STOCK	717081103	3,561	109,100	SH		SOLE	0	0	0	109,100
PHYSICIANS REALTY TRUST	COMMON STOCK	71943U104	711	51,000	SH		SOLE	0	0	0	51,000
PINNACLE WEST CAPITAL	COMMON STOCK	723484101	1,440	19,000	SH		SOLE	0	0	0	19,000
PPG INDUSTRIES INC	COMMON STOCK	693506107	1,421	17,000	SH		SOLE	0	0	0	17,000
PPL CORP	COMMON STOCK	69351T106	1,547	62,700	SH		SOLE	0	0	0	62,700
PREFERRED APARTMENT COMMUN-A	COMMON STOCK	74039L103	445	62,000	SH		SOLE	0	0	0	62,000
PROLOGIS INC	COMMON STOCK	74340W103	4,876	60,672	SH		SOLE	0	0	0	60,672
PUBLIC SERVICE ENTERPRISE GP	COMMON STOCK	744573106	1,608	35,800	SH		SOLE	0	0	0	35,800
PUBLIC STORAGE	COMMON STOCK	74460D109	2,247	11,313	SH		SOLE	0	0	0	11,313
QTS REALTY TRUST INC-CL A	COMMON STOCK	74736A103	203	3,500	SH		SOLE	0	0	0	3,500
QUEST DIAGNOSTICS INC	COMMON STOCK	74834L100	1,365	17,000	SH		SOLE	0	0	0	17,000
REGENCY CENTERS CORP	COMMON STOCK	758849103	980	25,500	SH		SOLE	0	0	0	25,500
REINSURANCE GROUP OF AMERICA	COMMON STOCK	759351604	841	10,000	SH		SOLE	0	0	0	10,000
RETAIL VALUE INC	COMMON STOCK	76133Q102	1	102	SH		SOLE	0	0	0	102
RLJ LODGING TRUST	COMMON STOCK	74965L101	222	28,800	SH		SOLE	0	0	0	28,800
ROBERT HALF INTL INC	COMMON STOCK	770323103	1,166	30,900	SH		SOLE	0	0	0	30,900
ROSS STORES INC	COMMON STOCK	778296103	1,722	19,800	SH		SOLE	0	0	0	19,800
SandP GLOBAL INC	COMMON STOCK	78409V104	2,181	8,900	SH		SOLE	0	0	0	8,900
SABRA HEALTH CARE REIT INC	COMMON STOCK	78573L106	676	61,874	SH		SOLE	0	0	0	61,874
SEI INVESTMENTS COMPANY	COMMON STOCK	784117103	1,390	30,000	SH		SOLE	0	0	0	30,000
SERVICE PROPERTIES TRUST	COMMON STOCK	44106M102	109	20,266	SH		SOLE	0	0	0	20,266
SHERWIN-WILLIAMS CO/THE	COMMON STOCK	824348106	1,769	3,850	SH		SOLE	0	0	0	3,850
SIMON PROPERTY GROUP INC	COMMON STOCK	828806109	1,070	19,500	SH		SOLE	0	0	0	19,500
SIMON PROPERTY GROUP INC	COMMON STOCK	828806109	1,427	26,006	SH		SOLE	0	0	0	26,006
SL GREEN REALTY CORP	COMMON STOCK	78440X101	931	21,600	SH		SOLE	0	0	0	21,600
SL GREEN REALTY CORP	COMMON STOCK	78440X101	399	9,257	SH		SOLE	0	0	0	9,257
SNAP-ON INC	COMMON STOCK	833034101	979	9,000	SH		SOLE	0	0	0	9,000
SPIRIT REALTY CAPITAL INC	COMMON STOCK	84860W300	769	29,400	SH		SOLE	0	0	0	29,400
STAG INDUSTRIAL INC	COMMON STOCK	85254J102	747	33,163	SH		SOLE	0	0	0	33,163
STARBUCKS CORP	COMMON STOCK	855244109	2,202	33,500	SH		SOLE	0	0	0	33,500
STORE CAPITAL CORP	COMMON STOCK	862121100	761	42,000	SH		SOLE	0	0	0	42,000
STRYKER CORP	COMMON STOCK	863667101	1,998	12,000	SH		SOLE	0	0	0	12,000
SUMMIT HOTEL PROPERTIES INC	COMMON STOCK	866082100	79	18,700	SH		SOLE	0	0	0	18,700
SYSCO CORP	COMMON STOCK	871829107	1,355	29,700	SH		SOLE	0	0	0	29,700
TANGER FACTORY OUTLET CENTER	COMMON STOCK	875465106	143	28,500	SH		SOLE	0	0	0	28,500
TARGET CORP	COMMON STOCK	87612E106	1,859	20,000	SH		SOLE	0	0	0	20,000
TEXAS INSTRUMENTS INC	COMMON STOCK	882508104	2,388	23,900	SH		SOLE	0	0	0	23,900
TJX COMPANIES INC	COMMON STOCK	872540109	2,008	42,000	SH		SOLE	0	0	0	42,000
TRACTOR SUPPLY COMPANY	COMMON STOCK	892356106	1,480	17,500	SH		SOLE	0	0	0	17,500
TRAVELERS COS INC/THE	COMMON STOCK	89417E109	1,381	13,900	SH		SOLE	0	0	0	13,900
UDR INC	COMMON STOCK	902653104	987	27,019	SH		SOLE	0	0	0	27,019
UMH PROPERTIES INC	COMMON STOCK	903002103	272	25,000	SH		SOLE	0	0	0	25,000
UNITEDHEALTH GROUP INC	COMMON STOCK	91324P102	4,165	16,700	SH		SOLE	0	0	0	16,700
URSTADT BIDDLE - CLASS A	COMMON STOCK	917286205	240	17,000	SH		SOLE	0	0	0	17,000
US BANCORP	COMMON STOCK	902973304	1,461	42,400	SH		SOLE	0	0	0	42,400
VENTAS INC	COMMON STOCK	92276F100	1,051	39,200	SH		SOLE	0	0	0	39,200
VENTAS INC	COMMON STOCK	92276F100	1,264	47,162	SH		SOLE	0	0	0	47,162
VEREIT INC	COMMON STOCK	92339V100	880	180,000	SH		SOLE	0	0	0	180,000
VEREIT INC	COMMON STOCK	92339V100	1,042	213,000	SH		SOLE	0	0	0	213,000
VERIZON COMMUNICATIONS INC	COMMON STOCK	92343V104	4,003	74,500	SH		SOLE	0	0	0	74,500
VISA INC-CLASS A SHARES	COMMON STOCK	92826C839	4,576	28,400	SH		SOLE	0	0	0	28,400
VORNADO REALTY TRUST	COMMON STOCK	929042109	407	11,237	SH		SOLE	0	0	0	11,237
VORNADO REALTY TRUST	COMMON STOCK	929042109	1,075	29,700	SH		SOLE	0	0	0	29,700
WASHINGTON REIT	COMMON STOCK	939653101	334	14,000	SH		SOLE	0	0	0	14,000
WASTE MANAGEMENT INC	COMMON STOCK	94106L109	1,786	19,300	SH		SOLE	0	0	0	19,300
WELLTOWER INC	COMMON STOCK	95040Q104	1,893	41,347	SH		SOLE	0	0	0	41,347
WESTERN UNION CO	COMMON STOCK	959802109	1,282	70,700	SH		SOLE	0	0	0	70,700
WP CAREY INC	COMMON STOCK	92936U109	738	12,700	SH		SOLE	0	0	0	12,700
WW GRAINGER INC	COMMON STOCK	384802104	1,441	5,800	SH		SOLE	0	0	0	5,800
YUM! BRANDS INC	COMMON STOCK	988498101	1,220	17,800	SH		SOLE	0	0	0	17,800
ZOETIS INC	COMMON STOCK	98978V103	2,177	18,500	SH		SOLE	0	0	0	18,500