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 1,557 17,800 SH   SOLE   17,800 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 893 23,700 SH   SOLE   23,700 0 0
AMERICAN TOWER CORP NEW COM 03027X100 2,211 23,700 SH   SOLE   23,700 0 0
AVALONBAY CMNTYS INC COM 053484101 6,555 41,000 SH   SOLE   41,000 0 0
BOSTON PROPERTIES INC COM 101121101 8,775 72,500 SH   SOLE   72,500 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 1,024 43,500 SH   SOLE   43,500 0 0
CUBESMART COM 229663109 774 33,400 SH   SOLE   33,400 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 789 61,600 SH   SOLE   61,600 0 0
EASTGROUP PPTY INC COM 277276101 2,379 42,300 SH   SOLE   42,300 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 1,420 55,300 SH   SOLE   55,300 0 0
EQUITY ONE COM 294752100 941 40,300 SH   SOLE   40,300 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 7,515 107,100 SH   SOLE   107,100 0 0
HOST HOTELS & RESORTS INC COM 44107P104 4,567 230,300 SH   SOLE   230,300 0 0
KIMCO RLTY CORP COM 49446R109 5,498 243,900 SH   SOLE   243,900 0 0
MACERICH CO COM 554382101 2,134 28,600 SH   SOLE   28,600 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 3,406 97,300 SH   SOLE   97,300 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 2,582 75,200 SH   SOLE   75,200 0 0
PARAMOUNT GROUP INC COM 69924R108 1,486 86,600 SH   SOLE   86,600 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 913 21,300 SH   SOLE   21,300 0 0
POST PPTYS INC COM 737464107 913 16,800 SH   SOLE   16,800 0 0
PUBLIC STORAGE COM 74460D109 5,550 30,100 SH   SOLE   30,100 0 0
RETAIL PPTYS AMER INC CL A 76131V202 1,958 140,550 SH   SOLE   140,550 0 0
SIMON PPTY GROUP INC NEW COM 828806109 10,745 62,100 SH   SOLE   62,100 0 0
STORE CAP CORP COM 862121100 2,862 142,400 SH   SOLE   142,400 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 959 79,100 SH   SOLE   79,100 0 0
SUN CMNTYS INC COM 866674104 1,088 17,600 SH   SOLE   17,600 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 963 64,162 SH   SOLE   64,162 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 593 18,700 SH   SOLE   18,700 0 0
TAUBMAN CTRS INC COM 876664103 855 12,300 SH   SOLE   12,300 0 0
VENTAS INC COM 92276F100 9,233 148,700 SH   SOLE   148,700 0 0