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 RLTY TR COM SH BEN INT 004239109 1,888 76,500 SH   SOLE   77 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 1,469 23,000 SH   SOLE   23 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 758 22,200 SH   SOLE   22 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,749 23,600 SH   SOLE   24 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 1,210 43,300 SH   SOLE   43 0 0
AVALONBAY CMNTYS INC COM 053484101 4,651 36,600 SH   SOLE   37 0 0
BOSTON PROPERTIES INC COM 101121101 8,632 80,750 SH   SOLE   81 0 0
CORESITE RLTY CORP COM 21870Q105 41 1,200 SH   SOLE   1 0 0
DCT INDUSTRIAL TRUST INC COM 233153105 2,093 291,100 SH   SOLE   291 0 0
DDR CORP COM 23317H102 5,671 361,000 SH   SOLE   361 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 737 69,100 SH   SOLE   69 0 0
EDUCATION RLTY TR INC COM 28140H104 222 24,400 SH   SOLE   24 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 762 22,300 SH   SOLE   22 0 0
EQUITY ONE COM 294752100 2,059 94,200 SH   SOLE   94 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 5,464 102,000 SH   SOLE   102 0 0
EXTRA SPACE STORAGE INC COM 30225T102 1,043 22,800 SH   SOLE   23 0 0
HCP INC COM 40414L109 7,060 172,400 SH   SOLE   172 0 0
HEALTH CARE REIT INC COM 42217K106 6,706 107,500 SH   SOLE   108 0 0
HIGHWOODS PPTYS INC COM 431284108 1,525 43,200 SH   SOLE   43 0 0
HOST HOTELS & RESORTS INC COM 44107P104 4,501 254,700 SH   SOLE   255 0 0
KILROY RLTY CORP COM 49427F108 2,003 40,100 SH   SOLE   40 0 0
LIBERTY PPTY TR SH BEN INT 531172104 4,813 135,200 SH   SOLE   135 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 329 17,600 SH   SOLE   18 0 0
PUBLIC STORAGE COM 74460D109 4,961 30,900 SH   SOLE   31 0 0
SIMON PPTY GROUP INC NEW COM 828806109 12,066 81,400 SH   SOLE   81 0 0
SL GREEN RLTY CORP COM 78440X101 4,344 48,900 SH   SOLE   49 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 489 56,300 SH   SOLE   56 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 697 54,700 SH   SOLE   55 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 806 24,700 SH   SOLE   25 0 0
TAUBMAN CTRS INC COM 876664103 1,117 16,600 SH   SOLE   17 0 0
UDR INC COM 902653104 1,773 74,800 SH   SOLE   75 0 0