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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS | $924.3M | 1546858 | 45.33% |
| 2 | J P MORGAN EXCHANGE TRADED F | $226.5M | 3287302 | 11.11% |
| 3 | ISHARES TR | $223.1M | 2464211 | 10.94% |
| 4 | VANGUARD INDEX FDS | $207.1M | 645651 | 10.16% |
| 5 | ISHARES INC | $180.5M | 2587897 | 8.85% |
| 6 | SPDR SERIES TRUST | $52.7M | 412250 | 2.58% |
| 7 | EQUITY RESIDENTIAL | $24.8M | 419069 | 1.22% |
| 8 | ESSEX PPTY TR INC | $24.4M | 100821 | 1.20% |
| 9 | INVITATION HOMES INC | $23.6M | 949206 | 1.16% |
| 10 | CAMDEN PPTY TR | $23.2M | 237748 | 1.14% |
| 11 | ISHARES TR | $23.2M | 104151 | 1.14% |
| 12 | AVALONBAY CMNTYS INC | $23.2M | 141930 | 1.14% |
| 13 | UDR INC | $23.0M | 682339 | 1.13% |
| 14 | MID-AMER APT CMNTYS INC | $22.6M | 185368 | 1.11% |
| 15 | AMERICAN HOMES 4 RENT | $22.3M | 798210 | 1.09% |
| 16 | VANGUARD SCOTTSDALE FDS | $13.0M | 222200 | 0.64% |
| 17 | ISHARES TR | $1.6M | 15666 | 0.08% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.