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 2,023 18,200 SH   SOLE   18,200 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 25,831 519,000 SH   SOLE   519,000 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 36,810 809,900 SH   SOLE   809,900 0 0
BOSTON PROPERTIES INC COM 101121101 2,667 21,200 SH   SOLE   21,200 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 2,845 172,300 SH   SOLE   172,300 0 0
CAMDEN PPTY TR SH BEN INT 133131102 2,917 34,700 SH   SOLE   34,700 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 3,659 169,400 SH   SOLE   169,400 0 0
CUBESMART COM 229663109 36,137 1,349,900 SH   SOLE   1,349,900 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 2,347 49,025 SH   SOLE   49,025 0 0
DDR CORP COM 23317H102 3,154 206,550 SH   SOLE   206,550 0 0
DIGITAL RLTY TR INC COM 253868103 22,786 231,900 SH   SOLE   231,900 0 0
EPR PPTYS COM SH BEN INT 26884U109 5,103 71,100 SH   SOLE   71,100 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 6,378 99,100 SH   SOLE   99,100 0 0
ESSEX PPTY TR INC COM 297178105 42,641 183,400 SH   SOLE   183,400 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 34,462 242,500 SH   SOLE   242,500 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 4,562 218,900 SH   SOLE   218,900 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 873 28,500 SH   SOLE   28,500 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 83,213 3,331,200 SH   SOLE   3,331,200 0 0
HUDSON PAC PPTYS INC COM 444097109 53,346 1,533,800 SH   SOLE   1,533,800 0 0
KIMCO RLTY CORP COM 49446R109 2,008 79,800 SH   SOLE   79,800 0 0
KITE RLTY GROUP TR COM NEW 49803T300 13,989 595,775 SH   SOLE   595,775 0 0
MACERICH CO COM 554382101 503 7,100 SH   SOLE   7,100 0 0
MID AMER APT CMNTYS INC COM 59522J103 2,370 24,200 SH   SOLE   24,200 0 0
NATIONAL HEALTH INVS INC COM 63633D104 35,624 480,300 SH   SOLE   480,300 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 2,002 45,300 SH   SOLE   45,300 0 0
PARAMOUNT GROUP INC COM 69924R108 45,445 2,842,100 SH   SOLE   2,842,100 0 0
PROLOGIS INC COM 74340W103 63,718 1,207,000 SH   SOLE   1,207,000 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 21,990 349,000 SH   SOLE   349,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 4,175 23,500 SH   SOLE   23,500 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 37,178 3,423,400 SH   SOLE   3,423,400 0 0
STORE CAP CORP COM 862121100 996 40,300 SH   SOLE   40,300 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 21,433 1,405,473 SH   SOLE   1,405,473 0 0
TAUBMAN CTRS INC COM 876664103 1,952 26,400 SH   SOLE   26,400 0 0
VENTAS INC COM 92276F100 1,838 29,400 SH   SOLE   29,400 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 2,677 74,800 SH   SOLE   74,800 0 0
WELLTOWER INC COM 95040Q104 44,562 665,800 SH   SOLE   665,800 0 0