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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 1,676 23,100 SH   SOLE   23,100 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,772 21,650 SH   SOLE   21,650 0 0
AVALONBAY CMNTYS INC COM 053484101 5,542 42,200 SH   SOLE   42,200 0 0
BOSTON PROPERTIES INC COM 101121101 6,459 56,400 SH   SOLE   56,400 0 0
CAMDEN PPTY TR SH BEN INT 133131102 1,973 29,300 SH   SOLE   29,300 0 0
CBL & ASSOC PPTYS INC COM 124830100 724 40,800 SH   SOLE   40,800 0 0
CORESITE RLTY CORP COM 21870Q105 34 1,100 SH   SOLE   1,100 0 0
CUBESMART COM 229663109 5,031 293,200 SH   SOLE   293,200 0 0
EASTGROUP PPTY INC COM 277276101 610 9,700 SH   SOLE   9,700 0 0
EDUCATION RLTY TR INC COM 28140H104 1,053 106,700 SH   SOLE   106,700 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 882 21,700 SH   SOLE   21,700 0 0
EQUITY ONE COM 294752100 715 32,000 SH   SOLE   32,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 6,843 118,000 SH   SOLE   118,000 0 0
ESSEX PPTY TR INC COM 297178105 136 800 SH   SOLE   800 0 0
EXTRA SPACE STORAGE INC COM 30225T102 1,198 24,700 SH   SOLE   24,700 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 3,694 32,200 SH   SOLE   32,200 0 0
HEALTH CARE REIT INC COM 42217K106 11,610 194,800 SH   SOLE   194,800 0 0
HEALTHCARE TR AMER INC CL A 42225P105 1,294 113,600 SH   SOLE   113,600 0 0
HOST HOTELS & RESORTS INC COM 44107P104 5,151 254,500 SH   SOLE   254,500 0 0
KILROY RLTY CORP COM 49427F108 1,769 30,200 SH   SOLE   30,200 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 1,090 34,800 SH   SOLE   34,800 0 0
MACERICH CO COM 554382101 2,182 35,000 SH   SOLE   35,000 0 0
PROLOGIS INC COM 74340W103 6,525 159,800 SH   SOLE   159,800 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 535 6,400 SH   SOLE   6,400 0 0
REGENCY CTRS CORP COM 758849103 2,303 45,100 SH   SOLE   45,100 0 0
RETAIL PPTYS AMER INC CL A 76131V202 1,248 92,150 SH   SOLE   92,150 0 0
SIMON PPTY GROUP INC NEW COM 828806109 12,661 77,200 SH   SOLE   77,200 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 6,847 623,600 SH   SOLE   623,600 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 565 55,400 SH   SOLE   55,400 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 853 62,100 SH   SOLE   62,100 0 0
VORNADO RLTY TR SH BEN INT 929042109 6,111 62,000 SH   SOLE   62,000 0 0