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	2,789	15,900	SH		SOLE	0	0	0	15,900
ABBVIE INC	COMMON STOCK	00287Y109	3,829	35,500	SH		SOLE	0	0	0	35,500
AGILENT TECHNOLOGIES INC	COMMON STOCK	00846U101	2,363	15,000	SH		SOLE	0	0	0	15,000
AGNC INVESTMENT CORP	COMMON STOCK	00123Q104	1,766	112,000	SH		SOLE	0	0	0	112,000
ALEXANDRIA REAL ESTATE EQUIT	COMMON STOCK	015271109	2,016	10,550	SH		SOLE	0	0	0	10,550
ALLSTATE CORP	COMMON STOCK	020002101	2,368	18,600	SH		SOLE	0	0	0	18,600
ALPHABET INC-CL A	COMMON STOCK	02079K305	9,892	3,700	SH		SOLE	0	0	0	3,700
ALPHABET INC-CL C	COMMON STOCK	02079K107	7,996	3,000	SH		SOLE	0	0	0	3,000
ALTRIA GROUP INC	COMMON STOCK	02209S103	2,731	60,000	SH		SOLE	0	0	0	60,000
AMERICAN CAMPUS COMMUNITIES	COMMON STOCK	024835100	693	14,300	SH		SOLE	0	0	0	14,300
AMERICAN HOMES 4 RENT- A	COMMON STOCK	02665T306	1,353	35,500	SH		SOLE	0	0	0	35,500
AMERIPRISE FINANCIAL INC	COMMON STOCK	03076C106	2,668	10,100	SH		SOLE	0	0	0	10,100
AMGEN INC	COMMON STOCK	031162100	2,998	14,100	SH		SOLE	0	0	0	14,100
ANALOG DEVICES INC	COMMON STOCK	032654105	2,110	12,600	SH		SOLE	0	0	0	12,600
ANTHEM INC	COMMON STOCK	036752103	2,889	7,750	SH		SOLE	0	0	0	7,750
APARTMENT INCOME REIT CO-W/I	COMMON STOCK	03750L109	1,057	21,657	SH		SOLE	0	0	0	21,657
APARTMENT INVT and MGMT CO -A	COMMON STOCK	03748R747	189	27,557	SH		SOLE	0	0	0	27,557
APPLE HOSPITALITY REIT INC	COMMON STOCK	03784Y200	204	13,000	SH		SOLE	0	0	0	13,000
APPLE INC	COMMON STOCK	037833100	18,718	132,280	SH		SOLE	0	0	0	132,280
APPLIED MATERIALS INC	COMMON STOCK	038222105	3,476	27,000	SH		SOLE	0	0	0	27,000
ARMADA HOFFLER PROPERTIES IN	COMMON STOCK	04208T108	175	13,101	SH		SOLE	0	0	0	13,101
ATandT INC	COMMON STOCK	00206R102	3,727	138,000	SH		SOLE	0	0	0	138,000
ATMOS ENERGY CORP	COMMON STOCK	049560105	1,896	21,500	SH		SOLE	0	0	0	21,500
AUTOMATIC DATA PROCESSING	COMMON STOCK	053015103	2,999	15,000	SH		SOLE	0	0	0	15,000
AUTOZONE INC	COMMON STOCK	053332102	2,971	1,750	SH		SOLE	0	0	0	1,750
AVALONBAY COMMUNITIES INC	COMMON STOCK	053484101	2,948	13,302	SH		SOLE	0	0	0	13,302
AVERY DENNISON CORP	COMMON STOCK	053611109	2,569	12,400	SH		SOLE	0	0	0	12,400
BAXTER INTERNATIONAL INC	COMMON STOCK	071813109	2,172	27,000	SH		SOLE	0	0	0	27,000
BECTON DICKINSON AND CO	COMMON STOCK	075887109	2,581	10,500	SH		SOLE	0	0	0	10,500
BERKSHIRE HATHAWAY INC-CL B	COMMON STOCK	084670702	6,005	22,000	SH		SOLE	0	0	0	22,000
BEST BUY CO INC	COMMON STOCK	086516101	1,934	18,300	SH		SOLE	0	0	0	18,300
BLACKROCK INC	COMMON STOCK	09247X101	3,355	4,000	SH		SOLE	0	0	0	4,000
BLACKSTONE GROUP INC/THE-A	COMMON STOCK	09260D107	2,909	25,000	SH		SOLE	0	0	0	25,000
BOOZ ALLEN HAMILTON HOLDINGS	COMMON STOCK	099502106	1,865	23,500	SH		SOLE	0	0	0	23,500
BOSTON PROPERTIES INC	COMMON STOCK	101121101	738	6,814	SH		SOLE	0	0	0	6,814
BRANDYWINE REALTY TRUST	COMMON STOCK	105368203	960	71,500	SH		SOLE	0	0	0	71,500
BRISTOL-MYERS SQUIBB CO	COMMON STOCK	110122108	3,077	52,000	SH		SOLE	0	0	0	52,000
BRISTOL-MYERS SQUIBB-CVR	COMMON STOCK	110122157	0	23,000	SH		SOLE	0	0	0	23,000
BRIXMOR PROPERTY GROUP INC	COMMON STOCK	11120U105	1,453	65,711	SH		SOLE	0	0	0	65,711
CAMDEN PROPERTY TRUST	COMMON STOCK	133131102	1,435	9,731	SH		SOLE	0	0	0	9,731
CAMPBELL SOUP CO	COMMON STOCK	134429109	1,798	43,000	SH		SOLE	0	0	0	43,000
CDW CORP/DE	COMMON STOCK	12514G108	2,680	14,725	SH		SOLE	0	0	0	14,725
CENTERSPACE	COMMON STOCK	15202L107	758	8,019	SH		SOLE	0	0	0	8,019
CERNER CORP	COMMON STOCK	156782104	1,975	28,000	SH		SOLE	0	0	0	28,000
CHATHAM LODGING TRUST	COMMON STOCK	16208T102	110	9,000	SH		SOLE	0	0	0	9,000
CISCO SYSTEMS INC	COMMON STOCK	17275R102	4,490	82,500	SH		SOLE	0	0	0	82,500
CITRIX SYSTEMS INC	COMMON STOCK	177376100	1,933	18,000	SH		SOLE	0	0	0	18,000
COGNIZANT TECH SOLUTIONS-A	COMMON STOCK	192446102	2,449	33,000	SH		SOLE	0	0	0	33,000
COLGATE-PALMOLIVE CO	COMMON STOCK	194162103	2,381	31,500	SH		SOLE	0	0	0	31,500
COLUMBIA PROPERTY TRUST INC	COMMON STOCK	198287203	571	30,000	SH		SOLE	0	0	0	30,000
CONSOLIDATED EDISON INC	COMMON STOCK	209115104	2,033	28,000	SH		SOLE	0	0	0	28,000
CORESITE REALTY CORP	COMMON STOCK	21870Q105	1,067	7,700	SH		SOLE	0	0	0	7,700
CORPORATE OFFICE PROPERTIES	COMMON STOCK	22002T108	661	24,500	SH		SOLE	0	0	0	24,500
COUSINS PROPERTIES INC	COMMON STOCK	222795502	1,451	38,900	SH		SOLE	0	0	0	38,900
CUBESMART	COMMON STOCK	229663109	1,647	34,000	SH		SOLE	0	0	0	34,000
CUMMINS INC	COMMON STOCK	231021106	2,021	9,000	SH		SOLE	0	0	0	9,000
CYRUSONE INC	COMMON STOCK	23283R100	1,811	23,400	SH		SOLE	0	0	0	23,400
DIGITAL REALTY TRUST INC	COMMON STOCK	253868103	3,315	22,947	SH		SOLE	0	0	0	22,947
DOLLAR GENERAL CORP	COMMON STOCK	256677105	2,482	11,700	SH		SOLE	0	0	0	11,700
DOMINION ENERGY INC	COMMON STOCK	25746U109	2,410	33,000	SH		SOLE	0	0	0	33,000
DOUGLAS EMMETT INC	COMMON STOCK	25960P109	284	9,000	SH		SOLE	0	0	0	9,000
DUKE REALTY CORP	COMMON STOCK	264411505	1,278	26,707	SH		SOLE	0	0	0	26,707
DigitalBridge Group Inc	COMMON STOCK	25401T108	357	59,286	SH		SOLE	0	0	0	59,286
Diversified Healthcare Trust	COMMON STOCK	25525P107	485	143,100	SH		SOLE	0	0	0	143,100
EASTGROUP PROPERTIES INC	COMMON STOCK	277276101	70	422	SH		SOLE	0	0	0	422
EBAY INC	COMMON STOCK	278642103	2,996	43,000	SH		SOLE	0	0	0	43,000
ELECTRONIC ARTS INC	COMMON STOCK	285512109	2,276	16,000	SH		SOLE	0	0	0	16,000
EMPIRE STATE REALTY TRUST-A	COMMON STOCK	292104106	291	29,000	SH		SOLE	0	0	0	29,000
EPR PROPERTIES	COMMON STOCK	26884U109	311	6,300	SH		SOLE	0	0	0	6,300
EQUINIX INC	COMMON STOCK	29444U700	3,311	4,190	SH		SOLE	0	0	0	4,190
EQUITY RESIDENTIAL	COMMON STOCK	29476L107	2,618	32,353	SH		SOLE	0	0	0	32,353
ESSENTIAL PROPERTIES REALTY	COMMON STOCK	29670E107	419	15,000	SH		SOLE	0	0	0	15,000
ESSEX PROPERTY TRUST INC	COMMON STOCK	297178105	2,174	6,800	SH		SOLE	0	0	0	6,800
ESTEE LAUDER COMPANIES-CL A	COMMON STOCK	518439104	2,339	7,800	SH		SOLE	0	0	0	7,800
EVERSOURCE ENERGY	COMMON STOCK	30040W108	2,003	24,500	SH		SOLE	0	0	0	24,500
EXELON CORP	COMMON STOCK	30161N101	2,490	51,500	SH		SOLE	0	0	0	51,500
EXPEDITORS INTL WASH INC	COMMON STOCK	302130109	2,478	20,800	SH		SOLE	0	0	0	20,800
F5 NETWORKS INC	COMMON STOCK	315616102	1,948	9,800	SH		SOLE	0	0	0	9,800
FACEBOOK INC-A	COMMON STOCK	30303M102	10,351	30,500	SH		SOLE	0	0	0	30,500
FOUR CORNERS PROPERTY TRUST	COMMON STOCK	35086T109	940	35,000	SH		SOLE	0	0	0	35,000
GAMING AND LEISURE PROPERTIE	COMMON STOCK	36467J108	1,597	34,471	SH		SOLE	0	0	0	34,471
GENERAL MILLS INC	COMMON STOCK	370334104	2,213	37,000	SH		SOLE	0	0	0	37,000
GLOBAL MEDICAL REIT INC	COMMON STOCK	37954A204	532	36,200	SH		SOLE	0	0	0	36,200
GLOBAL NET LEASE INC	COMMON STOCK	379378201	1,225	76,492	SH		SOLE	0	0	0	76,492
HCP INC	COMMON STOCK	42250P103	2,026	60,507	SH		SOLE	0	0	0	60,507
HEALTHCARE REALTY TRUST INC	COMMON STOCK	421946104	702	23,582	SH		SOLE	0	0	0	23,582
HEALTHCARE TRUST OF AME-CL A	COMMON STOCK	42225P501	1,542	52,000	SH		SOLE	0	0	0	52,000
HERSHA HOSPITALITY TRUST	COMMON STOCK	427825500	75	8,000	SH		SOLE	0	0	0	8,000
HERSHEY CO/THE	COMMON STOCK	427866108	2,268	13,400	SH		SOLE	0	0	0	13,400
HIGHWOODS PROPERTIES INC	COMMON STOCK	431284108	829	18,898	SH		SOLE	0	0	0	18,898
HOME DEPOT INC	COMMON STOCK	437076102	5,712	17,400	SH		SOLE	0	0	0	17,400
HOST HOTELS and RESORTS INC	COMMON STOCK	44107P104	1,263	77,343	SH		SOLE	0	0	0	77,343
HUDSON PACIFIC PROPERTIES IN	COMMON STOCK	444097109	788	30,000	SH		SOLE	0	0	0	30,000
HUMANA INC	COMMON STOCK	444859102	2,335	6,000	SH		SOLE	0	0	0	6,000
IDEXX LABORATORIES INC	COMMON STOCK	45168D104	2,612	4,200	SH		SOLE	0	0	0	4,200
ILLINOIS TOOL WORKS	COMMON STOCK	452308109	2,500	12,100	SH		SOLE	0	0	0	12,100
INDEPENDENCE REALTY TRUST IN	COMMON STOCK	45378A106	936	46,000	SH		SOLE	0	0	0	46,000
INDUSTRIAL LOGISTICS PROPERT	COMMON STOCK	456237106	1,717	67,572	SH		SOLE	0	0	0	67,572
INNOVATIVE INDUSTRIAL PROPER	COMMON STOCK	45781V101	394	1,704	SH		SOLE	0	0	0	1,704
INTERCONTINENTAL EXCHANGE IN	COMMON STOCK	45866F104	2,446	21,300	SH		SOLE	0	0	0	21,300
INTUIT INC	COMMON STOCK	461202103	3,709	6,875	SH		SOLE	0	0	0	6,875
INVITATION HOMES INC	COMMON STOCK	46187W107	2,513	65,565	SH		SOLE	0	0	0	65,565
IRON MOUNTAIN INC	COMMON STOCK	46284V101	1,912	44,000	SH		SOLE	0	0	0	44,000
JM SMUCKER CO/THE	COMMON STOCK	832696405	1,920	16,000	SH		SOLE	0	0	0	16,000
JOHNSON and JOHNSON	COMMON STOCK	478160104	6,137	38,000	SH		SOLE	0	0	0	38,000
KELLOGG CO	COMMON STOCK	487836108	1,982	31,000	SH		SOLE	0	0	0	31,000
KENNEDY-WILSON HOLDINGS INC	COMMON STOCK	489398107	283	13,509	SH		SOLE	0	0	0	13,509
KILROY REALTY CORP	COMMON STOCK	49427F108	430	6,500	SH		SOLE	0	0	0	6,500
KIMBERLY-CLARK CORP	COMMON STOCK	494368103	2,199	16,600	SH		SOLE	0	0	0	16,600
KIMCO REALTY CORP	COMMON STOCK	49446R109	214	10,295	SH		SOLE	0	0	0	10,295
KITE REALTY GROUP TRUST	COMMON STOCK	49803T300	426	20,900	SH		SOLE	0	0	0	20,900
KLA-TENCOR CORP	COMMON STOCK	482480100	2,442	7,300	SH		SOLE	0	0	0	7,300
Keurig Dr Pepper Inc	COMMON STOCK	49271V100	2,050	60,000	SH		SOLE	0	0	0	60,000
LAM RESEARCH CORP	COMMON STOCK	512807108	3,130	5,500	SH		SOLE	0	0	0	5,500
LENNOX INTERNATIONAL INC	COMMON STOCK	526107107	1,942	6,600	SH		SOLE	0	0	0	6,600
LEXINGTON REALTY TRUST	COMMON STOCK	529043101	1,275	100,000	SH		SOLE	0	0	0	100,000
LOWE'S COS INC	COMMON STOCK	548661107	3,814	18,800	SH		SOLE	0	0	0	18,800
Life Storage Inc	COMMON STOCK	53223X107	1,675	14,600	SH		SOLE	0	0	0	14,600
MACERICH CO/THE	COMMON STOCK	554382101	145	8,692	SH		SOLE	0	0	0	8,692
MACK-CALI REALTY CORP	COMMON STOCK	554489104	103	6,000	SH		SOLE	0	0	0	6,000
MANPOWERGROUP INC	COMMON STOCK	56418H100	1,841	17,000	SH		SOLE	0	0	0	17,000
MARSH and MCLENNAN COS	COMMON STOCK	571748102	3,135	20,700	SH		SOLE	0	0	0	20,700
MASCO CORP	COMMON STOCK	574599106	1,900	34,200	SH		SOLE	0	0	0	34,200
MCDONALD'S CORP	COMMON STOCK	580135101	3,785	15,700	SH		SOLE	0	0	0	15,700
MCKESSON CORP	COMMON STOCK	58155Q103	2,293	11,500	SH		SOLE	0	0	0	11,500
MEDICAL PROPERTIES TRUST INC	COMMON STOCK	58463J304	1,967	98,000	SH		SOLE	0	0	0	98,000
MERCK and CO. INC.	COMMON STOCK	58933Y105	3,793	50,500	SH		SOLE	0	0	0	50,500
METTLER-TOLEDO INTERNATIONAL	COMMON STOCK	592688105	2,066	1,500	SH		SOLE	0	0	0	1,500
MICROSOFT CORP	COMMON STOCK	594918104	15,475	54,890	SH		SOLE	0	0	0	54,890
MID-AMERICA APARTMENT COMM	COMMON STOCK	59522J103	2,045	10,950	SH		SOLE	0	0	0	10,950
MONDELEZ INTERNATIONAL INC-A	COMMON STOCK	609207105	2,676	46,000	SH		SOLE	0	0	0	46,000
MONMOUTH REAL ESTATE INV COR	COMMON STOCK	609720107	466	25,000	SH		SOLE	0	0	0	25,000
MONSTER BEVERAGE CORP	COMMON STOCK	61174X109	2,150	24,200	SH		SOLE	0	0	0	24,200
MOODY'S CORP	COMMON STOCK	615369105	2,663	7,500	SH		SOLE	0	0	0	7,500
MOTOROLA SOLUTIONS INC	COMMON STOCK	620076307	2,788	12,000	SH		SOLE	0	0	0	12,000
NATL HEALTH INVESTORS INC	COMMON STOCK	63633D104	1,049	19,600	SH		SOLE	0	0	0	19,600
NEW SENIOR INVESTMENT GROUP	COMMON STOCK	648691103	0	0	SH		SOLE	0	0	0	0
NEW YORK REIT INC liquidation shs	COMMON STOCK	64976L208	0	2,200	SH		SOLE	0	0	0	2,200
NORDSON CORP	COMMON STOCK	655663102	2,072	8,700	SH		SOLE	0	0	0	8,700
O'REILLY AUTOMOTIVE INC	COMMON STOCK	67103H107	2,933	4,800	SH		SOLE	0	0	0	4,800
OFFICE PROPERTIES INCOME TRUST	COMMON STOCK	67623C109	322	12,714	SH		SOLE	0	0	0	12,714
OLD DOMINION FREIGHT LINE	COMMON STOCK	679580100	2,288	8,000	SH		SOLE	0	0	0	8,000
OMEGA HEALTHCARE INVESTORS	COMMON STOCK	681936100	1,489	49,700	SH		SOLE	0	0	0	49,700
PARK HOTELS and RESORTS INC	COMMON STOCK	700517105	174	9,106	SH		SOLE	0	0	0	9,106
PAYCHEX INC	COMMON STOCK	704326107	2,210	19,650	SH		SOLE	0	0	0	19,650
PEBBLEBROOK HOTEL TRUST	COMMON STOCK	70509V100	142	6,355	SH		SOLE	0	0	0	6,355
PEPSICO INC	COMMON STOCK	713448108	4,016	26,700	SH		SOLE	0	0	0	26,700
PFIZER INC	COMMON STOCK	717081103	4,649	108,100	SH		SOLE	0	0	0	108,100
PHILIP MORRIS INTERNATIONAL	COMMON STOCK	718172109	3,602	38,000	SH		SOLE	0	0	0	38,000
PHYSICIANS REALTY TRUST	COMMON STOCK	71943U104	899	51,000	SH		SOLE	0	0	0	51,000
PINNACLE WEST CAPITAL	COMMON STOCK	723484101	1,845	25,500	SH		SOLE	0	0	0	25,500
PLYMOUTH INDUSTRIAL REIT INC	COMMON STOCK	729640102	1,172	51,527	SH		SOLE	0	0	0	51,527
POWER REIT	COMMON STOCK	73933H101	30	610	SH		SOLE	0	0	0	610
PPG INDUSTRIES INC	COMMON STOCK	693506107	2,145	15,000	SH		SOLE	0	0	0	15,000
PPL CORP	COMMON STOCK	69351T106	1,999	71,700	SH		SOLE	0	0	0	71,700
PREFERRED APARTMENT COMMUN-A	COMMON STOCK	74039L103	636	52,000	SH		SOLE	0	0	0	52,000
PROCTER and GAMBLE CO/THE	COMMON STOCK	742718109	5,452	39,000	SH		SOLE	0	0	0	39,000
PROLOGIS INC	COMMON STOCK	74340W103	7,610	60,672	SH		SOLE	0	0	0	60,672
PUBLIC SERVICE ENTERPRISE GP	COMMON STOCK	744573106	2,119	34,800	SH		SOLE	0	0	0	34,800
PUBLIC STORAGE	COMMON STOCK	74460D109	3,361	11,313	SH		SOLE	0	0	0	11,313
QUALCOMM INC	COMMON STOCK	747525103	3,225	25,000	SH		SOLE	0	0	0	25,000
REALTY INCOME CORP	COMMON STOCK	756109104	1,946	30,000	SH		SOLE	0	0	0	30,000
REALTY INCOME CORP	COMMON STOCK	756109104	525	8,100	SH		SOLE	0	0	0	8,100
REGENERON PHARMACEUTICALS	COMMON STOCK	75886F107	2,542	4,200	SH		SOLE	0	0	0	4,200
RETAIL VALUE INC	COMMON STOCK	76133Q102	3	108	SH		SOLE	0	0	0	108
RLJ LODGING TRUST	COMMON STOCK	74965L101	428	28,800	SH		SOLE	0	0	0	28,800
ROBERT HALF INTL INC	COMMON STOCK	770323103	2,799	27,900	SH		SOLE	0	0	0	27,900
RPM INTERNATIONAL INC	COMMON STOCK	749685103	1,864	24,000	SH		SOLE	0	0	0	24,000
SandP GLOBAL INC	COMMON STOCK	78409V104	3,357	7,900	SH		SOLE	0	0	0	7,900
SABRA HEALTH CARE REIT INC	COMMON STOCK	78573L106	984	66,874	SH		SOLE	0	0	0	66,874
SEALED AIR CORP	COMMON STOCK	81211K100	1,808	33,000	SH		SOLE	0	0	0	33,000
SEI INVESTMENTS COMPANY	COMMON STOCK	784117103	1,898	32,000	SH		SOLE	0	0	0	32,000
SERVICE PROPERTIES TRUST	COMMON STOCK	44106M102	227	20,266	SH		SOLE	0	0	0	20,266
SHERWIN-WILLIAMS CO/THE	COMMON STOCK	824348106	2,811	10,050	SH		SOLE	0	0	0	10,050
SIMON PROPERTY GROUP INC	COMMON STOCK	828806109	3,549	27,306	SH		SOLE	0	0	0	27,306
SKYWORKS SOLUTIONS INC	COMMON STOCK	83088M102	1,977	12,000	SH		SOLE	0	0	0	12,000
SL GREEN REALTY CORP	COMMON STOCK	78440X804	702	9,913	SH		SOLE	0	0	0	9,913
SMITH (A.O.) CORP	COMMON STOCK	831865209	2,015	33,000	SH		SOLE	0	0	0	33,000
SPIRIT REALTY CAPITAL INC	COMMON STOCK	84860W300	1,538	33,400	SH		SOLE	0	0	0	33,400
STAG INDUSTRIAL INC	COMMON STOCK	85254J102	1,710	43,563	SH		SOLE	0	0	0	43,563
STORE CAPITAL CORP	COMMON STOCK	862121100	1,073	33,500	SH		SOLE	0	0	0	33,500
SUMMIT HOTEL PROPERTIES INC	COMMON STOCK	866082100	180	18,700	SH		SOLE	0	0	0	18,700
T ROWE PRICE GROUP INC	COMMON STOCK	74144T108	2,655	13,500	SH		SOLE	0	0	0	13,500
TANGER FACTORY OUTLET CENTER	COMMON STOCK	875465106	302	18,500	SH		SOLE	0	0	0	18,500
TARGET CORP	COMMON STOCK	87612E106	3,294	14,400	SH		SOLE	0	0	0	14,400
TEXAS INSTRUMENTS INC	COMMON STOCK	882508104	3,729	19,400	SH		SOLE	0	0	0	19,400
TRACTOR SUPPLY COMPANY	COMMON STOCK	892356106	2,735	13,500	SH		SOLE	0	0	0	13,500
UDR INC	COMMON STOCK	902653104	1,583	29,888	SH		SOLE	0	0	0	29,888
UMH PROPERTIES INC	COMMON STOCK	903002103	677	29,564	SH		SOLE	0	0	0	29,564
UNION PACIFIC CORP	COMMON STOCK	907818108	2,940	15,000	SH		SOLE	0	0	0	15,000
UNITED PARCEL SERVICE-CL B	COMMON STOCK	911312106	3,096	17,000	SH		SOLE	0	0	0	17,000
UNITEDHEALTH GROUP INC	COMMON STOCK	91324P102	5,588	14,300	SH		SOLE	0	0	0	14,300
URSTADT BIDDLE - CLASS A	COMMON STOCK	917286205	322	17,000	SH		SOLE	0	0	0	17,000
VENTAS INC	COMMON STOCK	92276F100	2,579	46,705	SH		SOLE	0	0	0	46,705
VEREIT INC	COMMON STOCK	92339V308	1,992	44,048	SH		SOLE	0	0	0	44,048
VERIZON COMMUNICATIONS INC	COMMON STOCK	92343V104	3,970	73,500	SH		SOLE	0	0	0	73,500
VICI PROPERTIES INC	COMMON STOCK	925652109	1,122	39,500	SH		SOLE	0	0	0	39,500
VISA INC-CLASS A SHARES	COMMON STOCK	92826C839	5,881	26,400	SH		SOLE	0	0	0	26,400
VORNADO REALTY TRUST	COMMON STOCK	929042109	472	11,237	SH		SOLE	0	0	0	11,237
WALMART INC	COMMON STOCK	931142103	4,042	29,000	SH		SOLE	0	0	0	29,000
WASHINGTON REIT	COMMON STOCK	939653101	347	14,000	SH		SOLE	0	0	0	14,000
WASTE MANAGEMENT INC	COMMON STOCK	94106L109	2,957	19,800	SH		SOLE	0	0	0	19,800
WATERS CORP	COMMON STOCK	941848103	2,180	6,100	SH		SOLE	0	0	0	6,100
WELLTOWER INC	COMMON STOCK	95040Q104	2,741	33,259	SH		SOLE	0	0	0	33,259
WESTERN UNION CO	COMMON STOCK	959802109	1,531	75,700	SH		SOLE	0	0	0	75,700
WP CAREY INC	COMMON STOCK	92936U109	1,826	25,000	SH		SOLE	0	0	0	25,000
WP CAREY INC	COMMON STOCK	92936U109	1,877	25,704	SH		SOLE	0	0	0	25,704
WW GRAINGER INC	COMMON STOCK	384802104	2,044	5,200	SH		SOLE	0	0	0	5,200
YUM! BRANDS INC	COMMON STOCK	988498101	2,422	19,800	SH		SOLE	0	0	0	19,800
ZOETIS INC	COMMON STOCK	98978V103	2,718	14,000	SH		SOLE	0	0	0	14,000