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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
EXXON MOBIL CORP COM 30231G102   52,749,000 450,000 SH   SOLE   0 0 450,000
APPLE INC COM 037833100   48,930,000 210,000 SH   SOLE   0 0 210,000
BANK AMERICA CORP COM 060505104   44,796,736 1,128,950 SH   SOLE   105,000 0 1,023,950
AMERICAN ASSETS TR INC COM 024013104   39,420,978 1,475,336 SH   SOLE   0 0 1,475,336
MICROSOFT CORP COM 594918104   38,576,395 89,650 SH   SOLE   10,850 0 78,800
JPMORGAN CHASE & CO. COM 46625H100   37,448,736 177,600 SH   SOLE   0 0 177,600
WELLS FARGO CO NEW COM 949746101   31,351,950 555,000 SH   SOLE   0 0 555,000
GOLDMAN SACHS GROUP INC COM 38141G104   26,735,940 54,000 SH   SOLE   0 0 54,000
CHEVRON CORP NEW COM 166764100   26,508,600 180,000 SH   SOLE   10,000 0 170,000
CATERPILLAR INC COM 149123101   17,600,400 45,000 SH   SOLE   0 0 45,000
ESSEX PPTY TR INC COM 297178105   17,577,490 59,500 SH   SOLE   0 0 59,500
PHILLIPS 66 COM 718546104   16,799,310 127,800 SH   SOLE   26,400 0 101,400
TRUIST FINL CORP COM 89832Q109   16,423,680 384,000 SH   SOLE   0 0 384,000
LENNAR CORP CL A 526057104   16,192,648 86,370 SH   SOLE   45,000 0 41,370
CAPITAL ONE FINL CORP COM 14040H105   14,898,135 99,500 SH   SOLE   20,000 0 79,500
SHELL PLC SPON ADS 780259305   14,574,950 221,000 SH   SOLE   21,000 0 200,000
MERCK & CO INC COM 58933Y105   14,195,000 125,000 SH   SOLE   0 0 125,000
WALMART INC COM 931142103   13,081,500 162,000 SH   SOLE   40,500 0 121,500
ROYAL BK CDA COM 780087102   12,909,555 103,500 SH   SOLE   0 0 103,500
US BANCORP DEL COM NEW 902973304   12,347,100 270,000 SH   SOLE   0 0 270,000
INTERNATIONAL BUSINESS MACHS COM 459200101   12,159,400 55,000 SH   SOLE   0 0 55,000
ABBVIE INC COM 00287Y109   11,906,859 60,294 SH   SOLE   0 0 60,294
KROGER CO COM 501044101   11,812,395 206,150 SH   SOLE   98,200 0 107,950
AMGEN INC COM 031162100   11,338,570 35,190 SH   SOLE   9,900 0 25,290
PNC FINL SVCS GROUP INC COM 693475105   11,091,000 60,000 SH   SOLE   0 0 60,000
UNILEVER PLC SPON ADR NEW 904767704   11,043,200 170,000 SH   SOLE   0 0 170,000
COCA COLA CO COM 191216100   10,783,312 150,060 SH   SOLE   70,000 0 80,060
NOVARTIS AG SPONSORED ADR 66987V109   10,767,022 93,610 SH   SOLE   25,500 0 68,110
ELI LILLY & CO COM 532457108   10,631,280 12,000 SH   SOLE   0 0 12,000
TORONTO DOMINION BK ONT COM NEW 891160509   10,437,900 165,000 SH   SOLE   0 0 165,000
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100   10,420,200 60,000 SH   SOLE   0 0 60,000
GE AEROSPACE COM NEW 369604301   9,900,450 52,500 SH   SOLE   0 0 52,500
CITIGROUP INC COM NEW 172967424   9,790,640 156,400 SH   SOLE   0 0 156,400
PRUDENTIAL FINL INC COM 744320102   9,743,585 80,459 SH   SOLE   10,000 0 70,459
TOTALENERGIES SE SPONSORED ADS 89151E109   9,693,000 150,000 SH   SOLE   0 0 150,000
MORGAN STANLEY COM NEW 617446448   9,590,080 92,000 SH   SOLE   0 0 92,000
FEDEX CORP COM 31428X106   9,578,800 35,000 SH   SOLE   0 0 35,000
EDISON INTL COM 281020107   8,709,000 100,000 SH   SOLE   0 0 100,000
CONSTELLATION ENERGY CORP COM 21037T109   8,667,247 33,333 SH   SOLE   0 0 33,333
BANK MONTREAL QUE COM 063671101   8,659,200 96,000 SH   SOLE   0 0 96,000
METLIFE INC COM 59156R108   8,520,514 103,304 SH   SOLE   0 0 103,304
DEERE & CO COM 244199105   8,346,600 20,000 SH   SOLE   0 0 20,000
BANK NEW YORK MELLON CORP COM 064058100   8,263,900 115,000 SH   SOLE   0 0 115,000
ALPHABET INC CAP STK CL A 02079K305   8,126,650 49,000 SH   SOLE   9,000 0 40,000
JOHNSON & JOHNSON COM 478160104   8,103,000 50,000 SH   SOLE   0 0 50,000
NORTHROP GRUMMAN CORP COM 666807102   7,921,050 15,000 SH   SOLE   0 0 15,000
SEMPRA COM 816851109   7,693,960 92,000 SH   SOLE   0 0 92,000
HSBC HLDGS PLC SPON ADR NEW 404280406   7,543,024 166,918 SH   SOLE   0 0 166,918
STATE STR CORP COM 857477103   7,519,950 85,000 SH   SOLE   0 0 85,000
EQUITY RESIDENTIAL SH BEN INT 29476L107   7,446,000 100,000 SH   SOLE   0 0 100,000
CONOCOPHILLIPS COM 20825C104   7,369,600 70,000 SH   SOLE   0 0 70,000
PINNACLE WEST CAP CORP COM 723484101   7,352,970 83,000 SH   SOLE   0 0 83,000
CHUBB LIMITED COM h1467j104   7,209,750 25,000 SH   SOLE   25,000 0 0
PEPSICO INC COM 713448108   6,767,990 39,800 SH   SOLE   0 0 39,800
BRISTOL-MYERS SQUIBB CO COM 110122108   6,570,980 127,000 SH   SOLE   0 0 127,000
MEDTRONIC PLC SHS G5960L103   6,449,029 71,632 SH   SOLE   23,780 0 47,852
MICROCHIP TECHNOLOGY INC. COM 595017104   6,423,200 80,000 SH   SOLE   80,000 0 0
PFIZER INC COM 717081103   6,366,800 220,000 SH   SOLE   0 0 220,000
RIGETTI COMPUTING INC COMMON STOCK 76655K103   6,327,901 8,080,579 SH   SOLE   0 0 8,080,579
VERIZON COMMUNICATIONS INC COM 92343V104   6,287,400 140,000 SH   SOLE   0 0 140,000
AMERICAN ELEC PWR CO INC COM 025537101   6,156,000 60,000 SH   SOLE   0 0 60,000
JEFFERIES FINL GROUP INC COM 47233W109   6,155,000 100,000 SH   SOLE   0 0 100,000
PPG INDS INC COM 693506107   5,993,815 45,250 SH   SOLE   10,000 0 35,250
UNITED RENTALS INC COM 911363109   5,668,110 7,000 SH   SOLE   0 0 7,000
SCHWAB CHARLES CORP COM 808513105   5,617,342 86,674 SH   SOLE   0 0 86,674
BANK NOVA SCOTIA HALIFAX COM 064149107   5,449,000 100,000 SH   SOLE   0 0 100,000
NORTHERN TR CORP COM 665859104   5,401,800 60,000 SH   SOLE   0 0 60,000
HILTON WORLDWIDE HLDGS INC COM 43300A203   5,378,026 23,332 SH   SOLE   0 0 23,332
TOYOTA MOTOR CORP ADS 892331307   5,357,100 30,000 SH   SOLE   0 0 30,000
AMERIPRISE FINL INC COM 03076c106   5,285,363 11,250 SH   SOLE   11,000 0 250
GE VERNOVA INC COM 36828A101   5,100,875 20,005 SH   SOLE   0 0 20,005
CVS HEALTH CORP COM 126650100   5,030,400 80,000 SH   SOLE   0 0 80,000
QUEST DIAGNOSTICS INC COM 74834L100   4,968,000 32,000 SH   SOLE   0 0 32,000
ADVANCED MICRO DEVICES INC COM 007903107   4,922,400 30,000 SH   SOLE   0 0 30,000
NRG ENERGY INC COM NEW 629377508   4,841,601 53,146 SH   SOLE   0 0 53,146
WEC ENERGY GROUP INC COM 92939U106   4,809,000 50,000 SH   SOLE   0 0 50,000
DUPONT DE NEMOURS INC COM 26614N102   4,806,861 53,943 SH   SOLE   13,243 0 40,700
SANOFI SPONSORED ADR 80105N105   4,610,400 80,000 SH   SOLE   0 0 80,000
XCEL ENERGY INC COM 98389B100   4,571,000 70,000 SH   SOLE   0 0 70,000
BOEING CO COM 097023105   4,561,200 30,000 SH   SOLE   0 0 30,000
MONDELEZ INTL INC CL A 609207105   4,494,607 61,010 SH   SOLE   35,000 0 26,010
NEXTERA ENERGY INC COM 65339F101   4,226,500 50,000 SH   SOLE   0 0 50,000
WESTERN DIGITAL CORP. COM 958102105   4,097,400 60,000 SH   SOLE   0 0 60,000
ALLY FINL INC COM 02005N100   4,092,850 115,000 SH   SOLE   0 0 115,000
EXELON CORP COM 30161N101   4,055,000 100,000 SH   SOLE   0 0 100,000
LABCORP HOLDINGS INC COM SHS 504922105   4,022,640 18,000 SH   SOLE   0 0 18,000
STARBUCKS CORP COM 855244109   3,899,600 40,000 SH   SOLE   0 0 40,000
BIOGEN INC COM 09062X103   3,876,800 20,000 SH   SOLE   0 0 20,000
DOW INC COM 260557103   3,771,873 69,044 SH   SOLE   13,243 0 55,801
DUKE ENERGY CORP NEW COM NEW 26441C204   3,766,390 32,666 SH   SOLE   0 0 32,666
UNION PAC CORP COM 907818108   3,697,200 15,000 SH   SOLE   0 0 15,000
AMERICAN INTL GROUP INC COM NEW 026874784   3,661,500 50,000 SH   SOLE   0 0 50,000
HCA HEALTHCARE INC COM 40412C101   3,657,870 9,000 SH   SOLE   0 0 9,000
RTX CORPORATION COM 75513E101   3,634,800 30,000 SH   SOLE   0 0 30,000
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   3,624,090 225,800 SH   SOLE   0 0 225,800
UNITED THERAPEUTICS CORP DEL COM 91307C102   3,583,500 10,000 SH   SOLE   0 0 10,000
ISHARES TR RUSSELL 2000 ETF 464287655   3,534,240 16,000 SH   SOLE   16,000 0 0
THE CIGNA GROUP COM 125523100   3,478,258 10,040 SH   SOLE   0 0 10,040
ABBOTT LABS COM 002824100   3,477,305 30,500 SH   SOLE   0 0 30,500
STRYKER CORPORATION COM 863667101   3,251,340 9,000 SH   SOLE   0 0 9,000
FIRSTENERGY CORP COM 337932107   3,104,500 70,000 SH   SOLE   0 0 70,000
WYNN RESORTS LTD COM 983134107   3,002,003 31,310 SH   SOLE   0 0 31,310
PROCTER AND GAMBLE CO COM 742718109   2,944,400 17,000 SH   SOLE   0 0 17,000
VIATRIS INC COM 92556V106   2,902,500 250,000 SH   SOLE   0 0 250,000
ALCOA CORP COM 013872106   2,893,500 75,000 SH   SOLE   0 0 75,000
KINDER MORGAN INC DEL COM 49456B101   2,761,250 125,000 SH   SOLE   0 0 125,000
SELECT SECTOR SPDR TR SBI INT-UTILS 81369y886   2,746,520 34,000 SH   SOLE   30,000 0 4,000
PERRIGO CO PLC SHS G97822103   2,623,000 100,000 SH   SOLE   0 0 100,000
CARDINAL HEALTH INC COM 14149Y108   2,572,574 23,277 SH   SOLE   0 0 23,277
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   2,546,880 24,000 SH   SOLE   0 0 24,000
PHILIP MORRIS INTL INC COM 718172109   2,428,000 20,000 SH   SOLE   0 0 20,000
WEYERHAEUSER CO MTN BE COM NEW 962166104   2,370,200 70,000 SH   SOLE   0 0 70,000
PPL CORP COM 69351T106   2,315,600 70,000 SH   SOLE   0 0 70,000
KENVUE INC COM 49177J102   2,313,000 100,000 SH   SOLE   0 0 100,000
BCE INC COM NEW 05534B760   2,262,000 65,000 SH   SOLE   0 0 65,000
SOUTHERN CO COM 842587107   2,254,500 25,000 SH   SOLE   0 0 25,000
BAXTER INTL INC COM 071813109   2,195,767 57,829 SH   SOLE   0 0 57,829
MADISON SQUARE GRDN SPRT COR CL A 55825T103   2,082,600 10,000 SH   SOLE   0 0 10,000
UNITED PARCEL SERVICE INC CL B 911312106   2,045,100 15,000 SH   SOLE   0 0 15,000
JOHNSON CTLS INTL PLC SHS g51502105   2,033,382 26,200 SH   SOLE   25,000 0 1,200
GILEAD SCIENCES INC COM 375558103   1,928,320 23,000 SH   SOLE   0 0 23,000
ALCON AG ORD SHS H01301128   1,873,511 18,722 SH   SOLE   5,100 0 13,622
ALBERTSONS COS INC COMMON STOCK 013091103   1,848,000 100,000 SH   SOLE   0 0 100,000
ARCHER DANIELS MIDLAND CO COM 039483102   1,841,784 30,830 SH   SOLE   30,000 0 830
CANADIAN IMPERIAL BK COMM COM 136069101   1,840,200 30,000 SH   SOLE   0 0 30,000
KRAFT HEINZ CO COM 500754106   1,755,500 50,000 SH   SOLE   0 0 50,000
COMCAST CORP NEW CL A 20030N101   1,670,800 40,000 SH   SOLE   0 0 40,000
GE HEALTHCARE TECHNOLOGIES I COMMON STOCK 36266G107   1,642,375 17,500 SH   SOLE   0 0 17,500
GSK PLC SPONSORED ADR 37733W204   1,635,200 40,000 SH   SOLE   0 0 40,000
PARAMOUNT GLOBAL CLASS B COM 92556H206   1,593,000 150,000 SH   SOLE   0 0 150,000
ADOBE INC COM 00724f101   1,553,340 3,000 SH   SOLE   3,000 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   1,504,414 160,728 SH   SOLE   0 0 160,728
ENTERPRISE PRODS PARTNERS L COM 293792107   1,455,500 50,000 SH   SOLE   0 0 50,000
FTAI AVIATION LTD SHS G3730V105   1,418,708 10,675 SH   SOLE   0 0 10,675
BECTON DICKINSON & CO COM 075887109   1,326,050 5,500 SH   SOLE   0 0 5,500
WELLTOWER INC COM 95040Q104   1,280,300 10,000 SH   SOLE   0 0 10,000
EQUINIX INC COM 29444U700   1,277,300 1,439 SH   SOLE   0 0 1,439
INTEL CORP COM 458140100   1,173,000 50,000 SH   SOLE   0 0 50,000
COTERRA ENERGY INC COM 127097103   1,149,600 48,000 SH   SOLE   48,000 0 0
HALEON PLC SPON ADS 405552100   1,058,000 100,000 SH   SOLE   0 0 100,000
NEW FORTRESS ENERGY INC COM CL A 644393100   1,036,851 114,065 SH   SOLE   0 0 114,065
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   1,035,585 2,250 SH   SOLE   0 0 2,250
KIRBY CORP COM 497266106   1,029,024 8,405 SH   SOLE   0 0 8,405
MGM RESORTS INTERNATIONAL COM 552953101   975,139 24,946 SH   SOLE   0 0 24,946
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   950,949 67,300 SH   SOLE   0 0 67,300
INNOVATIVE INDL PPTYS INC COM 45781V101   942,873 7,005 SH   SOLE   0 0 7,005
BRIGHTHOUSE FINL INC COM 10922N103   900,600 20,000 SH   SOLE   0 0 20,000
GOODYEAR TIRE & RUBR CO COM 382550101   885,000 100,000 SH   SOLE   0 0 100,000
DIGITAL RLTY TR INC COM 253868103   819,345 5,063 SH   SOLE   0 0 5,063
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205   810,540 57,000 SH   SOLE   0 0 57,000
CORTEVA INC COM 22052l104   802,248 13,646 SH   SOLE   13,243 0 403
JAZZ PHARMACEUTICALS PLC SHS USD G50871105   779,870 7,000 SH   SOLE   0 0 7,000
GENERAL MLS INC COM 370334104   738,500 10,000 SH   SOLE   0 0 10,000
BLACKSTONE INC COM 09260D107   529,064 3,455 SH   SOLE   0 0 3,455
WARNER BROS DISCOVERY INC COM SER A 934423104   495,000 60,000 SH   SOLE   60,000 0 0
CADIZ INC COM NEW 127537207   456,927 150,801 SH   SOLE   0 0 150,801
NEW YORK CMNTY BANCORP INC COM NEW 649445400   374,330 33,333 SH   SOLE   0 0 33,333
VITESSE ENERGY INC COMMON STOCK 92852X103   360,300 15,000 SH   SOLE   0 0 15,000
SNOWFLAKE INC CL A 833445109   344,580 3,000 SH   SOLE   3,000 0 0
BLOCK INC CL A 852234103   335,650 5,000 SH   SOLE   5,000 0 0