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
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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
AMERICAN HOMES 4 RENT CL A 02665T306 26,755,999 798,210 SH SOLE 798,210 0 0
AVALONBAY CMNTYS INC COM 053484101 26,780,772 141,930 SH SOLE 141,930 0 0
CAMDEN PPTY TR SH BEN INT 133131102 27,219,769 237,748 SH SOLE 237,748 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 28,467,357 419,069 SH SOLE 419,069 0 0
ESSEX PPTY TR INC COM 297178105 29,398,395 100,821 SH SOLE 100,821 0 0
INVITATION HOMES INC COM 46187W107 28,675,513 949,206 SH SOLE 949,206 0 0
ISHARES INC CORE MSCI EMKT 46434G103 190,227,646 2,296,326 SH SOLE 2,296,326 0 0
ISHARES TR CORE US AGGBD ET 464287226 1,680,186 16,975 SH SOLE 16,975 0 0
ISHARES TR CORE MSCI EAFE 46432F842 188,992,573 1,956,850 SH SOLE 1,956,850 0 0
ISHARES TR LOW CA OP MS ETF 46434V464 26,527,193 104,863 SH SOLE 104,863 0 0
J P MORGAN EXCHANGE TRADED F BETABULDRS JAPAN 46641Q217 247,566,714 3,287,302 SH SOLE 3,287,302 0 0
MID-AMER APT CMNTYS INC COM 59522J103 25,755,030 185,368 SH SOLE 185,368 0 0
SPDR SERIES TRUST ST STR SP BIOT 78464A870 65,238,563 412,250 SH SOLE 412,250 0 0
UDR INC COM 902653104 27,238,973 682,339 SH SOLE 682,339 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 423,875,780 617,166 SH SOLE 617,166 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 222,990,915 602,613 SH SOLE 602,613 0 0
VANGUARD SCOTTSDALE FDS SHORT TERM TREAS 92206C102 12,932,040 222,200 SH SOLE 222,200 0 0