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
ACADIA RLTY TR COM SH BEN INT 004239109 10,852 538,837 SH   SOLE 538,837 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 12,228 177,297 SH   SOLE 177,297 0 0
AVALONBAY CMNTYS INC COM 053484101 23,184 177,519 SH   SOLE 177,519 0 0
BOSTON PROPERTIES INC COM 101121101 7,315 73,443 SH   SOLE 73,443 0 0
BRE PROPERTIES INC CL A 05564E106 6,837 135,430 SH   SOLE 135,430 0 0
DDR CORP COM 23317H102 1,606 131,950 SH   SOLE 131,950 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 8,555 353,233 SH   SOLE 353,233 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 4,068 121,985 SH   SOLE 121,985 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 8,645 95,267 SH   SOLE 95,267 0 0
HOME PROPERTIES INC COM 437306103 18,857 327,545 SH   SOLE 327,545 0 0
HOST HOTELS & RESORTS INC COM 44107P104 19,383 1,312,323 SH   SOLE 1,312,323 0 0
KILROY RLTY CORP COM 49427F108 3,998 105,015 SH   SOLE 105,015 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 12,606 520,693 SH   SOLE 520,693 0 0
PROLOGIS INC COM 74340W103 14,658 512,714 SH   SOLE 512,714 0 0
SIMON PPTY GROUP INC NEW COM 828806109 38,149 314,674 SH   SOLE 314,674 0 0
SL GREEN RLTY CORP COM 78440X101 12,267 184,078 SH   SOLE 184,078 0 0
TAUBMAN CTRS INC COM 876664103 992 15,977 SH   SOLE 15,977 0 0
VORNADO RLTY TR SH BEN INT 929042109 3,966 51,604 SH   SOLE 51,604 0 0