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 2,736 23,000 SH   SOLE   23,000 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 6,057 138,100 SH   SOLE   138,100 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 4,442 246,600 SH   SOLE   246,600 0 0
CORESITE RLTY CORP COM 21870Q105 6,837 61,100 SH   SOLE   61,100 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 3,775 115,000 SH   SOLE   115,000 0 0
CUBESMART COM 229663109 1,802 69,400 SH   SOLE   69,400 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 5,740 99,100 SH   SOLE   99,100 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 2,636 240,700 SH   SOLE   240,700 0 0
DUKE REALTY CORP COM NEW 264411505 8,499 294,900 SH   SOLE   294,900 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 1,689 47,000 SH   SOLE   47,000 0 0
EQUINIX INC COM PAR $0.001 29444U700 7,007 15,700 SH   SOLE   15,700 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 1,056 41,400 SH   SOLE   41,400 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 1,505 40,800 SH   SOLE   40,800 0 0
HCP INC COM 40414L109 4,394 165,300 SH   SOLE   165,300 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 3,490 117,100 SH   SOLE   117,100 0 0
HOST HOTELS & RESORTS INC COM 44107P104 8,291 448,400 SH   SOLE   448,400 0 0
INVITATION HOMES INC COM 46187W107 496 21,900 SH   SOLE   21,900 0 0
IRON MTN INC NEW COM 46284V101 1,945 50,000 SH   SOLE   50,000 0 0
KILROY RLTY CORP COM 49427F108 5,078 71,400 SH   SOLE   71,400 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 1,333 127,100 SH   SOLE   127,100 0 0
PUBLIC STORAGE COM 74460D109 8,945 41,800 SH   SOLE   41,800 0 0
REALTY INCOME CORP COM 756109104 6,583 115,100 SH   SOLE   115,100 0 0
REGENCY CTRS CORP COM 758849103 4,517 72,800 SH   SOLE   72,800 0 0
RETAIL PPTYS AMER INC CL A 76131V202 2,275 173,300 SH   SOLE   173,300 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 3,188 145,300 SH   SOLE   145,300 0 0
SIMON PPTY GROUP INC NEW COM 828806109 17,695 109,900 SH   SOLE   109,900 0 0
SUN CMNTYS INC COM 866674104 2,776 32,400 SH   SOLE   32,400 0 0
UDR INC COM 902653104 15,440 406,000 SH   SOLE   406,000 0 0
URBAN EDGE PPTYS COM 91704F104 2,012 83,400 SH   SOLE   83,400 0 0
VEREIT INC COM 92339V100 4,390 529,600 SH   SOLE   529,600 0 0
VORNADO RLTY TR SH BEN INT 929042109 7,557 98,300 SH   SOLE   98,300 0 0
W P CAREY INC COM 92936U109 1,456 21,600 SH   SOLE   21,600 0 0
WELLTOWER INC COM 95040Q104 9,776 139,100 SH   SOLE   139,100 0 0