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
AMERICAN ASSETS TR INC COM 024013104 883 20,800 SH   SOLE   20,800 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 1,480 28,000 SH   SOLE   28,000 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 3,502 79,300 SH   SOLE   79,300 0 0
BOSTON PROPERTIES INC COM 101121101 11,370 86,200 SH   SOLE   86,200 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 1,585 53,600 SH   SOLE   53,600 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 929 102,900 SH   SOLE   102,900 0 0
DIGITAL RLTY TR INC COM 253868103 8,458 77,600 SH   SOLE   77,600 0 0
DUKE REALTY CORP COM NEW 264411505 7,281 273,100 SH   SOLE   273,100 0 0
EASTGROUP PPTY INC COM 277276101 1,757 25,500 SH   SOLE   25,500 0 0
EMPIRE ST RLTY TR INC CL A 292104106 1,191 62,700 SH   SOLE   62,700 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 1,966 67,500 SH   SOLE   67,500 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 13,025 189,100 SH   SOLE   189,100 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 7,119 43,000 SH   SOLE   43,000 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 3,394 113,800 SH   SOLE   113,800 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 2,070 64,000 SH   SOLE   64,000 0 0
HOST HOTELS & RESORTS INC COM 44107P104 6,254 385,800 SH   SOLE   385,800 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 6,418 124,100 SH   SOLE   124,100 0 0
PUBLIC STORAGE COM 74460D109 8,741 34,200 SH   SOLE   34,200 0 0
RETAIL PPTYS AMER INC CL A 76131V202 2,472 146,300 SH   SOLE   146,300 0 0
SIMON PPTY GROUP INC NEW COM 828806109 13,274 61,200 SH   SOLE   61,200 0 0
STORE CAP CORP COM 862121100 4,108 139,500 SH   SOLE   139,500 0 0
SUN CMNTYS INC COM 866674104 1,671 21,800 SH   SOLE   21,800 0 0
WELLTOWER INC COM 95040Q104 13,634 179,000 SH   SOLE   179,000 0 0