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 7,498 65,066 SH   SOLE   65,066 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 9,708 221,250 SH   SOLE   221,250 0 0
AVALONBAY CMNTYS INC COM 053484101 7,423 42,650 SH   SOLE   42,650 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 3,628 247,000 SH   SOLE   247,000 0 0
CORESITE RLTY CORP COM 21870Q105 3,637 41,700 SH   SOLE   41,700 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 2,898 137,800 SH   SOLE   137,800 0 0
COUSINS PPTYS INC COM 222795106 3,547 449,000 SH   SOLE   449,000 0 0
CUBESMART COM 229663109 11,799 411,257 SH   SOLE   411,257 0 0
DUKE REALTY CORP COM NEW 264411505 7,677 296,400 SH   SOLE   296,400 0 0
EMPIRE ST RLTY TR INC CL A 292104106 3,365 236,500 SH   SOLE   236,500 0 0
EQUINIX INC COM PAR $0.001 29444U700 11,493 32,600 SH   SOLE   32,600 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 11,657 176,600 SH   SOLE   176,600 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 5,477 46,400 SH   SOLE   46,400 0 0
HCP INC COM 40414L109 12,501 447,600 SH   SOLE   447,600 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 3,797 150,000 SH   SOLE   150,000 0 0
HOST HOTELS & RESORTS INC COM 44107P104 8,370 502,100 SH   SOLE   502,100 0 0
INVITATION HOMES INC COM 46187W107 3,132 156,000 SH   SOLE   156,000 0 0
KILROY RLTY CORP COM 49427F108 4,383 69,700 SH   SOLE   69,700 0 0
LIBERTY PPTY TR SH BEN INT 531172104 8,732 208,500 SH   SOLE   208,500 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 3,939 81,200 SH   SOLE   81,200 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 4,820 292,500 SH   SOLE   292,500 0 0
SIMON PPTY GROUP INC NEW COM 828806109 11,324 67,407 SH   SOLE   67,407 0 0
SITE CENTERS CORP COM 82981J109 2,050 185,200 SH   SOLE   185,200 0 0
STORE CAP CORP COM 862121100 9,787 345,700 SH   SOLE   345,700 0 0
SUN CMNTYS INC COM 866674104 6,998 68,800 SH   SOLE   68,800 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 3,301 253,700 SH   SOLE   253,700 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 2,024 100,100 SH   SOLE   100,100 0 0
TAUBMAN CTRS INC COM 876664103 2,534 55,700 SH   SOLE   55,700 0 0