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
AGREE REALTY CORP COMM STK 008492100 71,658 1,081,952 SH   SOLE   108,981 0 972,971
ALEXANDRIA REAL ESTATE EQUITIES INC COMM STK 015271109 18,155 95,020 SH   SOLE   25,326 0 69,694
AMERICAN CAMPUS COMMUNITIES INC COMM STK 024835100 72,851 1,503,635 SH   SOLE   200,662 0 1,302,973
AMERICAN TOWER CORP COMM STK 03027X100 55,618 209,554 SH   SOLE   209,554 0 0
APARTMENT INCOME REIT CORP COMM STK 03750L109 108,677 2,226,532 SH   SOLE   241,878 0 1,984,654
APARTMENT INCOME REIT CORP COMM STK 03750L109 1,986 40,680 SH   OTR   0 0 40,680
AVALONBAY COMMUNITIES INC COMM STK 053484101 136,979 618,024 SH   SOLE   93,493 0 524,531
CAMDEN PROPERTY TRUST COMM STK 133131102 86,765 588,357 SH   SOLE   35,363 0 552,994
CARETRUST REIT INC COMM STK 14174T107 2 83 SH   SOLE   83 0 0
CORPORATE OFFICE PROPERTIES TRUST COMM STK 22002T108 37,395 1,386,044 SH   SOLE   100,381 0 1,285,663
CROWN CASTLE INTL CORP COMM STK 22822V101 21,325 123,040 SH   SOLE   123,040 0 0
CUBESMART COMM STK 229663109 96,010 1,981,640 SH   SOLE   191,922 0 1,789,718
CYRUSONE INC COMM STK 23283R100 54,271 701,087 SH   SOLE   89,282 0 611,805
DIAMONDROCK HOSPITALITY CO COMM STK 252784301 358 37,927 SH   SOLE   37,927 0 0
DIGITAL REALTY TRUST INC COMM STK 253868103 122,287 846,568 SH   SOLE   111,364 0 735,204
DOUGLAS EMMETT INC COMM STK 25960P109 1,600 50,630 SH   SOLE   50,630 0 0
DUKE REALTY CORP COMM STK 264411505 59,139 1,235,413 SH   SOLE   197,034 0 1,038,379
EQUINIX INC COMM STK 29444U700 185,511 234,786 SH   SOLE   39,424 0 195,362
EQUITY LIFESTYLE PROPERTIES INC COMM STK 29472R108 128,087 1,640,034 SH   SOLE   251,918 0 1,388,116
EQUITY RESIDENTIAL COMM STK 29476L107 7,189 88,846 SH   SOLE   88,846 0 0
ESSEX PROPERTY TRUST INC COMM STK 297178105 7,547 23,605 SH   SOLE   23,605 0 0
FEDERAL REALTY INVESTMENT TRUST COMM STK 313747206 1,825 15,464 SH   SOLE   15,464 0 0
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 64,270 1,234,054 SH   SOLE   118,213 0 1,115,841
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 1,344 25,813 SH   OTR   0 0 25,813
HEALTHCARE TRUST OF AMERICA COMM STK 42225P501 70,814 2,387,516 SH   SOLE   370,677 0 2,016,839
HEALTHPEAK PROPERTIES INC COMM STK 42250P103 9,266 276,776 SH   SOLE   64,967 0 211,809
HIGHWOODS PROPERTIES INC COMM STK 431284108 40,167 915,800 SH   SOLE   46,655 0 869,145
HOST HOTELS & RESORTS INC COMM STK 44107P104 106,235 6,505,496 SH   SOLE   384,678 0 6,120,818
INVITATION HOMES INC COMM STK 46187W107 168,693 4,401,063 SH   SOLE   582,626 0 3,818,437
KILROY REALTY CORP COMM STK 49427F108 2,337 35,300 SH   SOLE   35,300 0 0
KITE REALTY GROUP TRUST COMM STK 49803T300 6,521 320,273 SH   SOLE   24,352 0 295,921
MGM GROWTH PROPERTIES LLC COMM STK 55303A105 79,519 2,076,206 SH   SOLE   256,967 0 1,819,239
MGM GROWTH PROPERTIES LLC COMM STK 55303A105 1,676 43,760 SH   OTR   0 0 43,760
NATIONAL HEALTH INVESTORS INC COMM STK 63633D104 30,281 565,996 SH   SOLE   54,622 0 511,374
NATIONAL RETAIL PROPERTIES INC COMM STK 637417106 42,217 977,475 SH   SOLE   106,674 0 870,801
OUTFRONT MEDIA INC COMM STK 69007J106 91,187 3,618,537 SH   SOLE   406,199 0 3,212,338
OUTFRONT MEDIA INC COMM STK 69007J106 1,602 63,584 SH   OTR   0 0 63,584
PROLOGIS INC COMM STK 74340W103 153,136 1,220,891 SH   SOLE   146,687 0 1,074,204
PUBLIC STORAGE COMM STK 74460D109 143,290 482,297 SH   SOLE   112,733 0 369,564
REALTY INCOME CORP COMM STK 756109104 65,484 1,009,616 SH   SOLE   119,599 0 890,017
REGENCY CENTERS CORP COMM STK 758849103 2,492 37,006 SH   SOLE   37,006 0 0
RETAIL OPPORTUNITY INVESTMENTS CORP COMM STK 76131N101 45,854 2,632,234 SH   SOLE   158,649 0 2,473,585
RETAIL PROPERTIES OF AMERICA COMM STK 76131V202 11,563 897,735 SH   SOLE   30,501 0 867,234
REXFORD INDUSTRIAL REALTY INC COMM STK 76169C100 46,405 817,709 SH   SOLE   83,308 0 734,401
SABRA HEALTHCARE REIT INC COMM STK 78573L106 44,341 3,012,330 SH   SOLE   520,339 0 2,491,991
SBA COMMUNICATIONS CORP COMM STK 78410G104 39,445 119,324 SH   SOLE   38,432 0 80,892
SBA COMMUNICATIONS CORP COMM STK 78410G104 1,082 3,273 SH   OTR   0 0 3,273
SIMON PROPERTY GROUP INC COMM STK 828806109 58,748 452,009 SH   SOLE   65,740 0 386,269
TERRENO REALTY CORP COMM STK 88146M101 28,762 454,878 SH   SOLE   32,495 0 422,383
URBAN EDGE PROPERTIES COMM STK 91704F104 68,824 3,758,843 SH   SOLE   407,496 0 3,351,347
URBAN EDGE PROPERTIES COMM STK 91704F104 1,039 56,737 SH   OTR   0 0 56,737
VENTAS INC COMM STK 92276F100 114,123 2,067,071 SH   SOLE   355,317 0 1,711,754
VEREIT INC COMM STK 92339V308 62,341 1,378,310 SH   SOLE   145,514 0 1,232,796
VEREIT INC COMM STK 92339V308 1,303 28,805 SH   OTR   0 0 28,805
VICI PROPERTIES INC COMM STK 925652109 81,638 2,873,549 SH   SOLE   266,300 0 2,607,249
VORNADO REALTY TRUST COMM STK 929042109 53,106 1,264,126 SH   SOLE   90,290 0 1,173,836
WELLTOWER INC COMM STK 95040Q104 65,320 792,716 SH   SOLE   104,116 0 688,600
WEYERHAEUSER CO COMM STK 962166104 775 21,780 SH   SOLE   21,780 0 0