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 REIT 004239109 16,059 557,117 SH   DFND 1, 3, 4 557,117 0 0
AGREE REALTY REIT 008492100 8,021 166,969 SH   DFND 2, 3, 4 86,673 0 80,296
ALEXANDRIA REAL REIT 015271109 36,819 277,059 SH   DFND 1, 3, 4, 5 239,672 0 37,387
AMERICAN CAMPUS REIT 024835100 20,203 526,790 SH   DFND 2, 3, 4, 5 426,310 0 100,480
APARTMENT INVEST PUBLIC 03748R762 9,145 353,370 SH   DFND 3, 4 302,770 0 50,600
APARTMENT INVEST REIT 03748R101 27,262 674,392 SH   DFND 2, 3, 4, 5 531,492 0 142,900
AVALONBAY COMMUN REIT 053484101 64,540 379,907 SH   DFND 1, 2, 3, 4, 5 321,171 0 58,736
BOSTON PROPERTIE REIT 101121101 16,268 112,610 SH   DFND 3, 4 112,610 0 0
BRANDYWINE RLTY REIT 105368203 9,258 588,601 SH   DFND 3, 4, 5 441,255 0 147,346
CAMDEN PROP TR REIT 133131102 33,506 401,079 SH   DFND 2, 3, 4, 5 317,721 0 83,358
CARETRUST REI REIT 14174T107 9,138 687,144 SH   DFND 2, 3, 4, 5 530,597 0 156,547
CHESAPEAKE LODGI REIT 165240102 27,158 890,727 SH   DFND 2, 3, 4, 5 817,342 0 73,385
CORESITE REALTY REIT 21870Q105 14,839 149,293 SH   DFND 1, 2, 3, 4, 5 112,173 0 37,120
CUBESMART REIT 229663109 19,091 681,876 SH   DFND 2, 3, 4, 5 552,896 0 128,980
CYRUSONE INC REIT 23283R100 23,225 457,095 SH   DFND 2, 3, 4, 5 356,118 0 100,977
DCT INDUSTRIAL T REIT 233153204 18,249 326,491 SH   DFND 2, 3, 4, 5 247,791 0 78,700
DDR CORP REIT 23317H102 7,892 1,085,704 SH   DFND 2, 3, 4, 5 777,054 0 308,650
DIGITAL REALTY REIT 253868103 42,059 402,223 SH   DFND 2, 3, 4, 5 313,463 0 88,760
DOUGLAS EMMETT REIT 25960P109 16,100 373,723 SH   DFND 3, 4 373,723 0 0
DUKE REALTY CORP REIT 264411505 21,906 833,689 SH   DFND 3, 4, 5 629,109 0 204,580
EMPIRE STATE REA REIT 292104106 30,527 1,686,010 SH   DFND 1, 2, 3, 4, 5 1,522,270 0 163,740
EQUINIX INC REIT 29444U700 11,379 27,476 SH   DFND 3, 4, 5 19,868 0 7,608
EQUITY RESIDENTI REIT 29476L107 30,349 452,895 SH   DFND 1, 3, 4, 5 405,693 0 47,202
ESSEX PROPERTY REIT 297178105 16,951 60,095 SH   DFND 3, 4 60,095 0 0
EXTRA SPACE STOR REIT 30225T102 27,098 312,509 SH   DFND 2, 3, 4, 5 251,381 0 61,128
FED REALTY INVS REIT 313747206 45,811 376,298 SH   DFND 1, 2, 3, 4, 5 323,929 0 52,369
FOREST CITY RE-A REIT 345605109 14,731 620,878 SH   DFND 3, 4 620,878 0 0
FOUR CORNERS PRO REIT 35086T109 6,183 267,774 SH   DFND 2, 3, 4 142,504 0 125,270
GGP INC REIT 36174X101 43,165 2,010,740 SH   DFND 1, 2, 3, 4, 5 1,732,629 0 278,111
GRAMERCY PROPERT REIT 385002308 1,907 87,772 SH   DFND 3, 4 9,800 0 77,972
HCP INC REIT 40414L109 4,661 201,947 SH   DFND 3, 4, 5 146,088 0 55,859
HEALTHCARE RLTY REIT 421946104 10,436 379,430 SH   DFND 3, 4, 5 283,603 0 95,827
HIGHWOODS PROP REIT 431284108 17,353 398,731 SH   DFND 2, 3, 4, 5 322,004 0 76,727
HUDSON PACIFIC P REIT 444097109 33,713 966,473 SH   DFND 1, 2, 3, 4, 5 867,046 0 99,427
INTERXION HOLDIN COM N47279109 27 440 SH   DFND 1, 3, 4 440 0 0
INVITATION HOMES REIT 46187W107 17,383 767,646 SH   DFND 2, 3, 4, 5 595,122 0 172,524
JBG SMITH PROPER REIT 46590V100 1,178 35,298 SH   DFND 1, 2, 3, 4, 5 27,090 0 8,208
KILROY REALTY REIT 49427F108 19,024 269,994 SH   DFND 1, 2, 3, 4, 5 219,876 0 50,118
LASALLE HOTEL PR REIT 517942108 18,609 547,559 SH   DFND 3, 4 547,559 0 0
LIBERTY PROP REIT 531172104 20,141 510,342 SH   DFND 2, 3, 4, 5 407,482 0 102,860
MACERICH CO REIT 554382101 15,124 230,412 SH   DFND 3, 4 230,412 0 0
NATIONAL RETAIL REIT 637417106 9,432 240,242 SH   DFND 2, 3, 4 130,959 0 109,283
PARAMOUNT GROUP REIT 69924R108 15,974 958,078 SH   DFND 3, 4 958,078 0 0
PEBBLEBROOK HOTE REIT 70509V100 14,220 416,958 SH   DFND 2, 3, 4, 5 331,215 0 85,743
PENN REIT REIT 709102107 4,019 419,951 SH   DFND 2, 3, 4, 5 321,839 0 98,112
PHYSICIANS REALT REIT 71943U104 18,340 1,185,815 SH   DFND 2, 3, 4, 5 916,958 0 268,857
PROLOGIS INC REIT 74340W103 49,106 744,684 SH   DFND 1, 2, 3, 4, 5 656,912 0 87,772
PUBLIC STORAGE REIT 74460D109 17,066 85,920 SH   DFND 2, 3, 4, 5 65,880 0 20,040
RETAIL PROPERTIE REIT 76131V202 20,811 1,797,747 SH   DFND 2, 3, 4, 5 1,456,450 0 341,297
REXFORD INDUSTRI REIT 76169C100 16,677 494,570 SH   DFND 1, 3, 4 494,570 0 0
SABRA HEALTH CAR REIT 78573L106 20,096 1,145,989 SH   DFND 2, 3, 4, 5 895,312 0 250,677
SIMON PROPERTY REIT 828806109 72,559 457,887 SH   DFND 1, 2, 3, 4, 5 380,625 0 77,262
SL GREEN REALTY REIT 78440X101 15,871 139,841 SH   DFND 3, 4 139,841 0 0
STORE CAPITAL REIT 862121100 9,183 370,001 SH   DFND 2, 3, 4 190,850 0 179,151
SUMMIT HOTEL PRO REIT 866082100 20,543 1,520,390 SH   DFND 2, 3, 4, 5 1,202,126 0 318,264
SUNSTONE HOTEL REIT 867892101 16,262 1,077,065 SH   DFND 2, 3, 4, 5 827,739 0 249,326
TAUBMAN CENTERS REIT 876664103 15,087 226,486 SH   DFND 3, 4 226,486 0 0
TERRENO REALTY C REIT 88146M101 16,254 401,742 SH   DFND 3, 4 401,742 0 0
VORNADO RLTY TST REIT 929042109 38,711 542,952 SH   DFND 1, 2, 3, 4, 5 478,196 0 64,756
WASHINGTON REIT REIT 939653101 11,389 420,656 SH   DFND 2, 3, 4, 5 329,389 0 91,267
WELLTOWER INC REIT 95040Q104 36,154 669,198 SH   DFND 2, 3, 4, 5 508,776 0 160,422