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
3M CO COMMON STOCK 88579Y101 4,632 21,100 SH   SOLE 0 0 0 21,100
AFLAC INC COMMON STOCK 001055102 3,326 76,000 SH   SOLE 0 0 0 76,000
ALEXANDRIA REAL ESTATE EQUIT COMMON STOCK 015271109 2,111 16,900 SH   SOLE 0 0 0 16,900
ALLSTATE CORP COMMON STOCK 020002101 3,299 34,800 SH   SOLE 0 0 0 34,800
ALTRIA GROUP INC COMMON STOCK 02209S103 4,624 74,200 SH   SOLE 0 0 0 74,200
AMERICAN CAMPUS COMMUNITIES COMMON STOCK 024835100 1,931 50,000 SH   SOLE 0 0 0 50,000
AMERICAN ELECTRIC POWER COMMON STOCK 025537101 3,402 49,600 SH   SOLE 0 0 0 49,600
AMERICAN HOMES 4 RENT- A COMMON STOCK 02665T306 402 20,000 SH   SOLE 0 0 0 20,000
AMERIPRISE FINANCIAL INC COMMON STOCK 03076C106 2,737 18,500 SH   SOLE 0 0 0 18,500
APARTMENT INVT and MGMT CO -A COMMON STOCK 03748R101 1,691 41,500 SH   SOLE 0 0 0 41,500
APPLE INC COMMON STOCK 037833100 11,728 69,900 SH   SOLE 0 0 0 69,900
APPLIED MATERIALS INC COMMON STOCK 038222105 3,804 68,400 SH   SOLE 0 0 0 68,400
ARMADA HOFFLER PROPERTIES IN COMMON STOCK 04208T108 1,027 75,000 SH   SOLE 0 0 0 75,000
AUTOZONE INC COMMON STOCK 053332102 2,660 4,100 SH   SOLE 0 0 0 4,100
AVALONBAY COMMUNITIES INC COMMON STOCK 053484101 3,868 23,520 SH   SOLE 0 0 0 23,520
AVERY DENNISON CORP COMMON STOCK 053611109 2,635 24,800 SH   SOLE 0 0 0 24,800
BAXTER INTERNATIONAL INC COMMON STOCK 071813109 3,109 47,800 SH   SOLE 0 0 0 47,800
BEST BUY CO INC COMMON STOCK 086516101 2,905 41,500 SH   SOLE 0 0 0 41,500
BIOGEN INC COMMON STOCK 09062X103 3,094 11,300 SH   SOLE 0 0 0 11,300
BLACKROCK INC COMMON STOCK 09247X101 3,792 7,000 SH   SOLE 0 0 0 7,000
BOSTON PROPERTIES INC COMMON STOCK 101121101 2,023 16,417 SH   SOLE 0 0 0 16,417
BRANDYWINE REALTY TRUST COMMON STOCK 105368203 2,436 153,400 SH   SOLE 0 0 0 153,400
BRIXMOR PROPERTY GROUP INC COMMON STOCK 11120U105 1,693 111,000 SH   SOLE 0 0 0 111,000
BROADRIDGE FINANCIAL SOLUTIO COMMON STOCK 11133T103 3,455 31,500 SH   SOLE 0 0 0 31,500
BROWN-FORMAN CORP-CLASS B COMMON STOCK 115637209 2,992 55,000 SH   SOLE 0 0 0 55,000
CAMDEN PROPERTY TRUST COMMON STOCK 133131102 2,556 30,369 SH   SOLE 0 0 0 30,369
CBL and ASSOCIATES PROPERTIES COMMON STOCK 124830100 379 91,000 SH   SOLE 0 0 0 91,000
CDK GLOBAL INC COMMON STOCK 12508E101 2,565 40,500 SH   SOLE 0 0 0 40,500
CELGENE CORP COMMON STOCK 151020104 3,622 40,600 SH   SOLE 0 0 0 40,600
CHATHAM LODGING TRUST COMMON STOCK 16208T102 919 48,000 SH   SOLE 0 0 0 48,000
CHESAPEAKE LODGING TRUST COMMON STOCK 165240102 1,432 51,500 SH   SOLE 0 0 0 51,500
CHURCH and DWIGHT CO INC COMMON STOCK 171340102 3,122 62,000 SH   SOLE 0 0 0 62,000
CIGNA CORP COMMON STOCK 125509109 2,835 16,900 SH   SOLE 0 0 0 16,900
CLOROX COMPANY COMMON STOCK 189054109 2,928 22,000 SH   SOLE 0 0 0 22,000
COGNIZANT TECH SOLUTIONS-A COMMON STOCK 192446102 3,735 46,400 SH   SOLE 0 0 0 46,400
COLGATE-PALMOLIVE CO COMMON STOCK 194162103 3,899 54,400 SH   SOLE 0 0 0 54,400
COLONY NORTHSTAR INC-CLASS A COMMON STOCK 19625W104 1,929 343,163 SH   SOLE 0 0 0 343,163
COLUMBIA PROPERTY TRUST INC COMMON STOCK 198287203 1,760 86,000 SH   SOLE 0 0 0 86,000
COMCAST CORP-CLASS A COMMON STOCK 20030N101 5,160 151,000 SH   SOLE 0 0 0 151,000
CORPORATE OFFICE PROPERTIES COMMON STOCK 22002T108 1,576 61,000 SH   SOLE 0 0 0 61,000
COUSINS PROPERTIES INC COMMON STOCK 222795106 1,484 171,000 SH   SOLE 0 0 0 171,000
CSX CORP COMMON STOCK 126408103 3,677 66,000 SH   SOLE 0 0 0 66,000
CUBESMART COMMON STOCK 229663109 1,748 62,000 SH   SOLE 0 0 0 62,000
CUMMINS INC COMMON STOCK 231021106 2,837 17,500 SH   SOLE 0 0 0 17,500
CYRUSONE INC COMMON STOCK 23283R100 809 15,800 SH   SOLE 0 0 0 15,800
DCT INDUSTRIAL TRUST INC COMMON STOCK 233153204 677 12,025 SH   SOLE 0 0 0 12,025
DDR CORP COMMON STOCK 23317H102 1,312 179,000 SH   SOLE 0 0 0 179,000
DIAMONDROCK HOSPITALITY CO COMMON STOCK 252784301 1,545 148,000 SH   SOLE 0 0 0 148,000
DIGITAL REALTY TRUST INC COMMON STOCK 253868103 3,557 33,750 SH   SOLE 0 0 0 33,750
DISCOVER FINANCIAL SERVICES COMMON STOCK 254709108 3,021 42,000 SH   SOLE 0 0 0 42,000
DOLLAR GENERAL CORP COMMON STOCK 256677105 2,947 31,500 SH   SOLE 0 0 0 31,500
DOLLAR TREE INC COMMON STOCK 256746108 2,752 29,000 SH   SOLE 0 0 0 29,000
DR PEPPER SNAPPLE GROUP INC COMMON STOCK 26138E109 3,883 32,800 SH   SOLE 0 0 0 32,800
DTE ENERGY COMPANY COMMON STOCK 233331107 3,132 30,000 SH   SOLE 0 0 0 30,000
DUKE ENERGY CORP COMMON STOCK 26441C204 3,711 47,900 SH   SOLE 0 0 0 47,900
DUKE REALTY CORP COMMON STOCK 264411505 1,007 38,024 SH   SOLE 0 0 0 38,024
EASTGROUP PROPERTIES INC COMMON STOCK 277276101 1,860 22,500 SH   SOLE 0 0 0 22,500
EDUCATION REALTY TRUST INC COMMON STOCK 28140H203 1,376 42,000 SH   SOLE 0 0 0 42,000
ELI LILLY and CO COMMON STOCK 532457108 3,838 49,600 SH   SOLE 0 0 0 49,600
EMERSON ELECTRIC CO COMMON STOCK 291011104 3,395 49,700 SH   SOLE 0 0 0 49,700
EMPIRE STATE REALTY TRUST-A COMMON STOCK 292104106 722 43,000 SH   SOLE 0 0 0 43,000
EPR PROPERTIES COMMON STOCK 26884U109 2,316 41,800 SH   SOLE 0 0 0 41,800
EQUITY RESIDENTIAL COMMON STOCK 29476L107 3,411 55,356 SH   SOLE 0 0 0 55,356
ESSEX PROPERTY TRUST INC COMMON STOCK 297178105 2,118 8,800 SH   SOLE 0 0 0 8,800
ESTEE LAUDER COMPANIES-CL A COMMON STOCK 518439104 3,653 24,400 SH   SOLE 0 0 0 24,400
EXPEDITORS INTL WASH INC COMMON STOCK 302130109 2,912 46,000 SH   SOLE 0 0 0 46,000
F5 NETWORKS INC COMMON STOCK 315616102 3,138 21,700 SH   SOLE 0 0 0 21,700
FARMLAND PARTNERS INC COMMON STOCK 31154R109 431 51,653 SH   SOLE 0 0 0 51,653
FASTENAL CO COMMON STOCK 311900104 2,926 53,600 SH   SOLE 0 0 0 53,600
FISERV INC COMMON STOCK 337738108 3,366 47,200 SH   SOLE 0 0 0 47,200
FOREST CITY REALTY TRUST- A COMMON STOCK 345605109 1,783 88,000 SH   SOLE 0 0 0 88,000
FORTUNE BRANDS HOME and SECURI COMMON STOCK 34964C106 2,420 41,100 SH   SOLE 0 0 0 41,100
GAMING AND LEISURE PROPERTIE COMMON STOCK 36467J108 1,607 48,000 SH   SOLE 0 0 0 48,000
GAP INC/THE COMMON STOCK 364760108 2,643 84,700 SH   SOLE 0 0 0 84,700
GENERAL MILLS INC COMMON STOCK 370334104 2,613 58,000 SH   SOLE 0 0 0 58,000
GENUINE PARTS CO COMMON STOCK 372460105 2,578 28,700 SH   SOLE 0 0 0 28,700
GGP Inc COMMON STOCK 36174X101 1,749 85,500 SH   SOLE 0 0 0 85,500
GLOBAL NET LEASE INC COMMON STOCK 379378201 1,492 88,408 SH   SOLE 0 0 0 88,408
GRAMERCY PROPERTY TRUST COMMON STOCK 385002308 2,122 97,666 SH   SOLE 0 0 0 97,666
HCP INC COMMON STOCK 40414L109 2,197 94,593 SH   SOLE 0 0 0 94,593
HEALTHCARE REALTY TRUST INC COMMON STOCK 421946104 296 10,682 SH   SOLE 0 0 0 10,682
HENRY SCHEIN INC COMMON STOCK 806407102 2,487 37,000 SH   SOLE 0 0 0 37,000
HERSHEY CO/THE COMMON STOCK 427866108 2,751 27,800 SH   SOLE 0 0 0 27,800
HIGHWOODS PROPERTIES INC COMMON STOCK 431284108 1,350 30,802 SH   SOLE 0 0 0 30,802
HOME DEPOT INC COMMON STOCK 437076102 6,185 34,700 SH   SOLE 0 0 0 34,700
HOSPITALITY PROPERTIES TRUST COMMON STOCK 44106M102 1,861 73,434 SH   SOLE 0 0 0 73,434
HOST HOTELS and RESORTS INC COMMON STOCK 44107P104 3,430 183,998 SH   SOLE 0 0 0 183,998
HP INC COMMON STOCK 40434L105 3,288 150,000 SH   SOLE 0 0 0 150,000
HUDSON PACIFIC PROPERTIES IN COMMON STOCK 444097109 1,968 60,500 SH   SOLE 0 0 0 60,500
HUNT (JB) TRANSPRT SVCS INC COMMON STOCK 445658107 2,812 24,000 SH   SOLE 0 0 0 24,000
ILLINOIS TOOL WORKS COMMON STOCK 452308109 3,306 21,100 SH   SOLE 0 0 0 21,100
INFRAREIT INC COMMON STOCK 45685L100 1,208 62,180 SH   SOLE 0 0 0 62,180
INGERSOLL-RAND PLC COMMON STOCK 000000000 2,942 34,400 SH   SOLE 0 0 0 34,400
INTL BUSINESS MACHINES CORP COMMON STOCK 459200101 4,956 32,300 SH   SOLE 0 0 0 32,300
INTUIT INC COMMON STOCK 461202103 3,606 20,800 SH   SOLE 0 0 0 20,800
INVITATION HOMES INC COMMON STOCK 46187W107 590 25,824 SH   SOLE 0 0 0 25,824
IRON MOUNTAIN INC COMMON STOCK 46284V101 2,547 77,500 SH   SOLE 0 0 0 77,500
JBG SMITH PROPERTIES COMMON STOCK 46590V100 923 27,382 SH   SOLE 0 0 0 27,382
KENNEDY-WILSON HOLDINGS INC COMMON STOCK 489398107 697 40,081 SH   SOLE 0 0 0 40,081
KILROY REALTY CORP COMMON STOCK 49427F108 922 13,000 SH   SOLE 0 0 0 13,000
KIMBERLY-CLARK CORP COMMON STOCK 494368103 3,084 28,000 SH   SOLE 0 0 0 28,000
KIMCO REALTY CORP COMMON STOCK 49446R109 831 57,731 SH   SOLE 0 0 0 57,731
KITE REALTY GROUP TRUST COMMON STOCK 49803T300 1,736 114,000 SH   SOLE 0 0 0 114,000
LAM RESEARCH CORP COMMON STOCK 512807108 3,454 17,000 SH   SOLE 0 0 0 17,000
LASALLE HOTEL PROPERTIES COMMON STOCK 517942108 1,700 58,600 SH   SOLE 0 0 0 58,600
LEAR CORP COMMON STOCK 521865204 2,860 15,370 SH   SOLE 0 0 0 15,370
LEGGETT and PLATT INC COMMON STOCK 524660107 2,750 62,000 SH   SOLE 0 0 0 62,000
LIBERTY PROPERTY TRUST COMMON STOCK 531172104 2,825 71,096 SH   SOLE 0 0 0 71,096
LOEWS CORP COMMON STOCK 540424108 2,874 57,800 SH   SOLE 0 0 0 57,800
LOWE'S COS INC COMMON STOCK 548661107 3,642 41,500 SH   SOLE 0 0 0 41,500
LYONDELLBASELL INDU-CL A COMMON STOCK 000000000 3,170 30,000 SH   SOLE 0 0 0 30,000
Life Storage Inc COMMON STOCK 53223X107 1,796 21,500 SH   SOLE 0 0 0 21,500
MACERICH CO/THE COMMON STOCK 554382101 1,317 23,507 SH   SOLE 0 0 0 23,507
MACK-CALI REALTY CORP COMMON STOCK 554489104 1,170 70,000 SH   SOLE 0 0 0 70,000
MANPOWERGROUP INC COMMON STOCK 56418H100 2,544 22,100 SH   SOLE 0 0 0 22,100
MARSH and MCLENNAN COS COMMON STOCK 571748102 3,461 41,900 SH   SOLE 0 0 0 41,900
MASCO CORP COMMON STOCK 574599106 2,758 68,200 SH   SOLE 0 0 0 68,200
MASTERCARD INC - A COMMON STOCK 57636Q104 5,850 33,400 SH   SOLE 0 0 0 33,400
MCCORMICK and CO-NON VTG SHRS COMMON STOCK 579780206 2,968 27,900 SH   SOLE 0 0 0 27,900
MCDONALD'S CORP COMMON STOCK 580135101 4,770 30,500 SH   SOLE 0 0 0 30,500
MEDICAL PROPERTIES TRUST INC COMMON STOCK 58463J304 1,560 120,000 SH   SOLE 0 0 0 120,000
METTLER-TOLEDO INTERNATIONAL COMMON STOCK 592688105 2,645 4,600 SH   SOLE 0 0 0 4,600
MICROSOFT CORP COMMON STOCK 594918104 11,655 127,700 SH   SOLE 0 0 0 127,700
MID-AMERICA APARTMENT COMM COMMON STOCK 59522J103 2,987 32,740 SH   SOLE 0 0 0 32,740
MOHAWK INDUSTRIES INC COMMON STOCK 608190104 2,554 11,000 SH   SOLE 0 0 0 11,000
MONMOUTH REAL ESTATE INV COR COMMON STOCK 609720107 1,008 67,000 SH   SOLE 0 0 0 67,000
MOODY'S CORP COMMON STOCK 615369105 3,210 19,900 SH   SOLE 0 0 0 19,900
MSCI INC COMMON STOCK 55354G100 3,288 22,000 SH   SOLE 0 0 0 22,000
NATL HEALTH INVESTORS INC COMMON STOCK 63633D104 404 6,000 SH   SOLE 0 0 0 6,000
NETAPP INC COMMON STOCK 64110D104 3,054 49,500 SH   SOLE 0 0 0 49,500
NEW SENIOR INVESTMENT GROUP COMMON STOCK 648691103 1,006 123,000 SH   SOLE 0 0 0 123,000
NEW YORK REIT INC COMMON STOCK 64976L208 114 5,300 SH   SOLE 0 0 0 5,300
O'REILLY AUTOMOTIVE INC COMMON STOCK 67103H107 2,969 12,000 SH   SOLE 0 0 0 12,000
OMNICOM GROUP COMMON STOCK 681919106 2,936 40,400 SH   SOLE 0 0 0 40,400
PAYCHEX INC COMMON STOCK 704326107 2,839 46,100 SH   SOLE 0 0 0 46,100
PFIZER INC COMMON STOCK 717081103 6,158 173,500 SH   SOLE 0 0 0 173,500
PHYSICIANS REALTY TRUST COMMON STOCK 71943U104 1,448 93,000 SH   SOLE 0 0 0 93,000
PINNACLE WEST CAPITAL COMMON STOCK 723484101 2,953 37,000 SH   SOLE 0 0 0 37,000
PPG INDUSTRIES INC COMMON STOCK 693506107 3,091 27,700 SH   SOLE 0 0 0 27,700
PPL CORP COMMON STOCK 69351T106 2,829 100,000 SH   SOLE 0 0 0 100,000
PROCTER and GAMBLE CO/THE COMMON STOCK 742718109 6,366 80,300 SH   SOLE 0 0 0 80,300
PROLOGIS INC COMMON STOCK 74340W103 5,291 84,000 SH   SOLE 0 0 0 84,000
PUBLIC SERVICE ENTERPRISE GP COMMON STOCK 744573106 3,210 63,900 SH   SOLE 0 0 0 63,900
PUBLIC STORAGE COMMON STOCK 74460D109 4,223 21,074 SH   SOLE 0 0 0 21,074
QTS REALTY TRUST INC-CL A COMMON STOCK 74736A103 978 27,000 SH   SOLE 0 0 0 27,000
QUALITY CARE PROPERTIES COMMON STOCK 747545101 558 28,718 SH   SOLE 0 0 0 28,718
RAMCO-GERSHENSON PROPERTIES COMMON STOCK 751452202 1,715 138,782 SH   SOLE 0 0 0 138,782
RLJ LODGING TRUST COMMON STOCK 74965L101 1,540 79,200 SH   SOLE 0 0 0 79,200
RMR GROUP INC/THE - A COMMON STOCK 74967R106 537 7,684 SH   SOLE 0 0 0 7,684
ROBERT HALF INTL INC COMMON STOCK 770323103 2,923 50,500 SH   SOLE 0 0 0 50,500
ROCKWELL AUTOMATION INC COMMON STOCK 773903109 2,822 16,200 SH   SOLE 0 0 0 16,200
ROSS STORES INC COMMON STOCK 778296103 3,111 39,900 SH   SOLE 0 0 0 39,900
SandP GLOBAL INC COMMON STOCK 78409V104 3,840 20,100 SH   SOLE 0 0 0 20,100
SABRA HEALTH CARE REIT INC COMMON STOCK 78573L106 2,613 148,030 SH   SOLE 0 0 0 148,030
SEI INVESTMENTS COMPANY COMMON STOCK 784117103 2,907 38,800 SH   SOLE 0 0 0 38,800
SELECT INCOME REIT COMMON STOCK 81618T100 2,451 125,800 SH   SOLE 0 0 0 125,800
SENIOR HOUSING PROP TRUST COMMON STOCK 81721M109 2,335 149,100 SH   SOLE 0 0 0 149,100
SHERWIN-WILLIAMS CO/THE COMMON STOCK 824348106 3,215 8,200 SH   SOLE 0 0 0 8,200
SIMON PROPERTY GROUP INC COMMON STOCK 828806109 10,512 68,108 SH   SOLE 0 0 0 68,108
SKYWORKS SOLUTIONS INC COMMON STOCK 83088M102 3,228 32,200 SH   SOLE 0 0 0 32,200
SL GREEN REALTY CORP COMMON STOCK 78440X101 1,639 16,923 SH   SOLE 0 0 0 16,923
SMITH (A.O.) CORP COMMON STOCK 831865209 2,811 44,200 SH   SOLE 0 0 0 44,200
SOUTHERN CO/THE COMMON STOCK 842587107 3,492 78,200 SH   SOLE 0 0 0 78,200
SOUTHWEST AIRLINES CO COMMON STOCK 844741108 2,864 50,000 SH   SOLE 0 0 0 50,000
SPIRIT REALTY CAPITAL INC COMMON STOCK 84860W102 1,730 223,000 SH   SOLE 0 0 0 223,000
STAG INDUSTRIAL INC COMMON STOCK 85254J102 1,519 63,500 SH   SOLE 0 0 0 63,500
STANLEY BLACK and DECKER INC COMMON STOCK 854502101 3,003 19,600 SH   SOLE 0 0 0 19,600
STARBUCKS CORP COMMON STOCK 855244109 4,400 76,000 SH   SOLE 0 0 0 76,000
STATE STREET CORP COMMON STOCK 857477103 3,191 32,000 SH   SOLE 0 0 0 32,000
SUMMIT HOTEL PROPERTIES INC COMMON STOCK 866082100 667 49,000 SH   SOLE 0 0 0 49,000
SUNSTONE HOTEL INVESTORS INC COMMON STOCK 867892101 457 30,000 SH   SOLE 0 0 0 30,000
T ROWE PRICE GROUP INC COMMON STOCK 74144T108 3,023 28,000 SH   SOLE 0 0 0 28,000
TANGER FACTORY OUTLET CENTER COMMON STOCK 875465106 1,716 78,000 SH   SOLE 0 0 0 78,000
TARGET CORP COMMON STOCK 87612E106 3,201 46,100 SH   SOLE 0 0 0 46,100
TAUBMAN CENTERS INC COMMON STOCK 876664103 911 16,000 SH   SOLE 0 0 0 16,000
TEXAS INSTRUMENTS INC COMMON STOCK 882508104 4,530 43,600 SH   SOLE 0 0 0 43,600
TIER REIT INC COMMON STOCK 88650V208 824 44,600 SH   SOLE 0 0 0 44,600
TJX COMPANIES INC COMMON STOCK 872540109 3,776 46,300 SH   SOLE 0 0 0 46,300
TORCHMARK CORP COMMON STOCK 891027104 2,710 32,200 SH   SOLE 0 0 0 32,200
TRAVELERS COS INC/THE COMMON STOCK 89417E109 3,249 23,400 SH   SOLE 0 0 0 23,400
UDR INC COMMON STOCK 902653104 1,260 35,367 SH   SOLE 0 0 0 35,367
UGI CORP COMMON STOCK 902681105 2,798 63,000 SH   SOLE 0 0 0 63,000
UMH PROPERTIES INC COMMON STOCK 903002103 1,302 97,083 SH   SOLE 0 0 0 97,083
UNION PACIFIC CORP COMMON STOCK 907818108 4,866 36,200 SH   SOLE 0 0 0 36,200
UNITED PARCEL SERVICE-CL B COMMON STOCK 911312106 3,517 33,600 SH   SOLE 0 0 0 33,600
UNITED THERAPEUTICS CORP COMMON STOCK 91307C102 2,472 22,000 SH   SOLE 0 0 0 22,000
UNITEDHEALTH GROUP INC COMMON STOCK 91324P102 6,078 28,400 SH   SOLE 0 0 0 28,400
UNITI GROUP INC COMMON STOCK 91325V108 1,056 65,000 SH   SOLE 0 0 0 65,000
US BANCORP COMMON STOCK 902973304 3,949 78,200 SH   SOLE 0 0 0 78,200
VENTAS INC COMMON STOCK 92276F100 3,095 62,482 SH   SOLE 0 0 0 62,482
VEREIT INC COMMON STOCK 92339V100 2,645 380,000 SH   SOLE 0 0 0 380,000
VF CORP COMMON STOCK 918204108 3,017 40,700 SH   SOLE 0 0 0 40,700
VISA INC-CLASS A SHARES COMMON STOCK 92826C839 6,543 54,700 SH   SOLE 0 0 0 54,700
VMWARE INC-CLASS A COMMON STOCK 928563402 2,425 20,000 SH   SOLE 0 0 0 20,000
VORNADO REALTY TRUST COMMON STOCK 929042109 1,869 27,765 SH   SOLE 0 0 0 27,765
WABCO HOLDINGS INC COMMON STOCK 92927K102 2,497 18,650 SH   SOLE 0 0 0 18,650
WASHINGTON REIT COMMON STOCK 939653101 437 16,000 SH   SOLE 0 0 0 16,000
WEINGARTEN REALTY INVESTORS COMMON STOCK 948741103 1,273 45,336 SH   SOLE 0 0 0 45,336
WELLTOWER INC COMMON STOCK 95040Q104 3,481 63,953 SH   SOLE 0 0 0 63,953
WW GRAINGER INC COMMON STOCK 384802104 3,105 11,000 SH   SOLE 0 0 0 11,000
WYNDHAM WORLDWIDE CORP COMMON STOCK 98310W108 2,792 24,400 SH   SOLE 0 0 0 24,400
YUM! BRANDS INC COMMON STOCK 988498101 3,278 38,500 SH   SOLE 0 0 0 38,500
ZOETIS INC COMMON STOCK 98978V103 3,674 44,000 SH   SOLE 0 0 0 44,000