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 1,926 21,700 SH   SOLE   21,700 0 0
AMERICAN ASSETS TR INC COM 024013104 936 23,500 SH   SOLE   23,500 0 0
AVALONBAY CMNTYS INC COM 053484101 6,715 41,100 SH   SOLE   41,100 0 0
BOSTON PROPERTIES INC COM 101121101 7,039 54,700 SH   SOLE   54,700 0 0
CAMDEN PPTY TR SH BEN INT 133131102 2,068 28,000 SH   SOLE   28,000 0 0
CORESITE RLTY CORP COM 21870Q105 1,175 30,100 SH   SOLE   30,100 0 0
CUBESMART COM 229663109 6,729 304,900 SH   SOLE   304,900 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 5,513 154,600 SH   SOLE   154,600 0 0
DOUGLAS EMMETT INC COM 25960P109 1,400 49,300 SH   SOLE   49,300 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 1,409 42,400 SH   SOLE   42,400 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 1,199 32,766 SH   SOLE   32,766 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 1,070 41,700 SH   SOLE   41,700 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 1,232 23,900 SH   SOLE   23,900 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 7,802 108,600 SH   SOLE   108,600 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 2,959 143,900 SH   SOLE   143,900 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 11,812 419,900 SH   SOLE   419,900 0 0
HEALTH CARE REIT INC COM 42217K106 15,157 200,300 SH   SOLE   200,300 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 1,991 73,900 SH   SOLE   73,900 0 0
KIMCO RLTY CORP COM 49446R109 6,554 260,700 SH   SOLE   260,700 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 5,779 142,800 SH   SOLE   142,800 0 0
POST PPTYS INC COM 737464107 1,023 17,400 SH   SOLE   17,400 0 0
PUBLIC STORAGE COM 74460D109 684 3,700 SH   SOLE   3,700 0 0
RETAIL PPTYS AMER INC CL A 76131V202 2,526 151,350 SH   SOLE   151,350 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 5,261 442,500 SH   SOLE   442,500 0 0
STORE CAP CORP COM 862121100 2,701 125,000 SH   SOLE   125,000 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 4,624 280,100 SH   SOLE   280,100 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 2,820 76,300 SH   SOLE   76,300 0 0
TAUBMAN CTRS INC COM 876664103 3,882 50,800 SH   SOLE   50,800 0 0
VORNADO RLTY TR SH BEN INT 929042109 7,063 60,000 SH   SOLE   60,000 0 0