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
hours per response: 23.8
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
Acadia Realty Trust COM 004239109 39,747 1,390,742 SH   DFND 01,02 1,085,642 0 305,100
American Assets Trust Inc COM 024013104 79,285 1,696,303 SH   DFND 01,02 1,303,877 0 392,426
American Campus Communities COM 024835100 47,031 978,174 SH   DFND 01,02 756,474 0 221,700
American Homes 4 Rent Cl A COM 02665T306 63,832 2,465,511 SH   DFND 01,02 1,853,111 0 612,400
Americold Realty Trust COM 03064D108 124,007 3,345,220 SH   DFND 01,02 3,083,358 0 261,862
AvalonBay Communities Inc COM 053484101 230,188 1,069,000 SH   DFND 01,02 833,300 0 235,700
Boston Properties Inc COM 101121101 146,218 1,127,700 SH   DFND 01,02 882,300 0 245,400
Brixmor Property Group Inc COM 11120U105 69,783 3,439,300 SH   DFND 01,02 2,647,700 0 791,600
Caretrust REIT Inc COM 14174T107 28,878 1,228,600 SH   DFND 01,02 1,127,400 0 101,200
Corporate Office Properties COM 22002T108 79,111 2,656,500 SH   DFND 01,02 2,064,100 0 592,400
CubeSmart COM 229663109 105,805 3,031,650 SH   DFND 01,02 2,345,350 0 686,300
CyrusOne Inc COM 23283R100 51,253 647,946 SH   DFND 01,02 514,019 0 133,927
Digital Realty Trust Inc COM 253868103 153,777 1,184,632 SH   DFND 01,02 902,304 0 282,328
Douglas Emmett Inc COM 25960P109 91,105 2,127,123 SH   DFND 01,02 1,665,123 0 462,000
Duke Realty Corp COM 264411505 146,774 4,320,700 SH   DFND 01,02 3,283,200 0 1,037,500
Equinix Inc COM 292104106 15,623 27,086 SH   DFND 01,02 27,086 0 0
Empire State Realty Trust Cl A COM 29444U700 39,477 2,766,403 SH   DFND 01,02 2,094,103 0 672,300
Equity Lifestyle Properties COM 29472R108 71,702 536,695 SH   DFND 01,02 429,195 0 107,500
Essex Property Trust Inc COM 297178105 155,812 477,000 SH   DFND 01,02 366,300 0 110,700
Extended Stay America Inc COM 30224P200 40,225 2,747,592 SH   DFND 01,02 2,518,692 0 228,900
Federal Realty Invs Trust COM 313747206 73,390 539,074 SH   DFND 01,02 421,774 0 117,300
HCP Inc COM 40414L109 163,909 4,600,300 SH   DFND 01,02 3,549,000 0 1,051,300
Healthcare Trust of America Inc Cl A COM 42225P501 92,165 3,137,000 SH   DFND 01,02 2,474,500 0 662,500
Host Hotels & Resorts Inc COM 44107P104 92,662 5,359,300 SH   DFND 01,02 4,930,700 0 428,600
Howard Hughes Corp COM 44267D107 16,735 129,125 SH   DFND 01,02 116,949 0 12,176
Invitation Homes Inc COM 46187W107 107,606 3,634,100 SH   DFND 01,02 2,875,200 0 758,900
National Retail Properties COM 637417106 107,092 1,898,800 SH   DFND 01,02 1,462,700 0 436,100
Piedmont Office Realty Trust COM 720190206 43,915 2,103,200 SH   DFND 01,02 1,593,500 0 509,700
ProLogis Inc COM 74340W103 138,934 1,630,300 SH   DFND 01,02 1,191,500 0 438,800
Public Storage COM 74460D109 115,571 471,200 SH   DFND 01,02 365,200 0 106,000
Rexford Industrial Realty Inc COM 76169C100 111,300 2,528,400 SH   DFND 01,02 1,942,500 0 585,900
Seritage Growth Properties COM 74965L101 34,829 819,700 SH   DFND 01,02 644,200 0 175,500
Simon Property Group Inc COM 828806109 185,395 1,191,100 SH   DFND 01,02 925,700 0 265,400
Store Capital Corp COM 862121100 114,334 3,056,242 SH   DFND 01,02 2,377,342 0 678,900
Taubman Centers Inc COM 876664103 24,056 589,166 SH   DFND 01,02 448,866 0 140,300
UDR Inc COM 902653104 115,096 2,374,100 SH   DFND 2,02 1,842,900 0 531,200
VEREIT Inc COM 92339V100 35,553 3,635,300 SH   DFND 3,02 2,812,900 0 822,400
Vici Properties Inc COM 925652109 99,969 4,413,635 SH   DFND 01,02 4,067,935 0 345,700
Welltower Inc COM 95040Q104 164,348 1,813,000 SH   DFND 01,02 1,389,300 0 423,700