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

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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 370,333 1,660,983 SH   SOLE   1,238,693 0 422,290
AMEREN CORP COM 023608102 846 9,500 SH   SOLE   9,500 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 188,473 3,289,807 SH   SOLE   2,452,441 0 837,366
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 3,164 235,767 SH   SOLE   138,326 0 97,441
CAMDEN PPTY TR SH BEN INT 133131102 232,671 1,302,166 SH   SOLE   968,637 0 333,529
CUBESMART COM 229663109 386,246 6,786,965 SH   SOLE   5,089,518 0 1,697,447
CYRUSONE INC COM 23283R100 26,770 298,373 SH   SOLE   234,818 0 63,555
EQUINIX INC COM 29444U700 553,950 654,911 SH   SOLE   488,682 0 166,229
EQUITY LIFESTYLE PPTYS INC COM 29472R108 292,861 3,340,869 SH   SOLE   2,529,780 0 811,089
EQUITY RESIDENTIAL SH BEN INT 29476L107 422,102 4,664,116 SH   SOLE   3,520,180 0 1,143,936
ESSEX PPTY TR INC COM 297178105 583,875 1,657,653 SH   SOLE   1,245,986 0 411,667
EXELON CORP COM 30161N101 951 16,460 SH   SOLE   16,460 0 0
FEDERAL RLTY INVT TR SH BEN INT NEW 313747206 322,987 2,369,333 SH   SOLE   1,775,542 0 593,791
HEALTHPEAK PROPERTIES INC COM 42250P103 366,090 10,143,796 SH   SOLE   7,640,247 0 2,503,549
HOST HOTELS & RESORTS INC COM 44107P104 269,344 15,488,418 SH   SOLE   11,765,256 0 3,723,162
INVITATION HOMES INC COM 46187W107 769,210 16,965,362 SH   SOLE   12,748,496 0 4,216,866
KILROY RLTY CORP COM 49427F108 330,664 4,975,391 SH   SOLE   3,754,555 0 1,220,836
KIMCO RLTY CORP COM 49446R109 623,785 25,305,668 SH   SOLE   19,121,977 0 6,183,691
NEXTERA ENERGY INC COM 65339F101 574 6,150 SH   SOLE   6,150 0 0
PROLOGIS INC. COM 74340W103 1,221,838 7,257,296 SH   SOLE   5,428,733 0 1,828,563
PUBLIC STORAGE COM 74460D109 220,389 588,394 SH   SOLE   439,985 0 148,409
RAYONIER INC COM 754907103 137,576 3,408,723 SH   SOLE   2,589,865 0 818,858
REXFORD INDL RLTY INC COM 76169C100 458,141 5,648,392 SH   SOLE   4,222,343 0 1,426,049
SWITCH INC CL A 87105L104 121,603 4,245,930 SH   SOLE   3,116,827 0 1,129,103
TERRENO RLTY CORP COM 88146M101 74,948 878,744 SH   SOLE   641,612 0 237,132
UNION PAC CORP COM 907818108 582 2,310 SH   SOLE   2,310 0 0
URBAN EDGE PPTYS COM 91704F104 200,355 10,544,979 SH   SOLE   8,326,547 0 2,218,432
WELLTOWER INC COM 95040Q104 629,488 7,339,252 SH   SOLE   5,501,706 0 1,837,546
XCEL ENERGY INC COM 98389B100 485 7,170 SH   SOLE   7,170 0 0