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
3M CO COMMON STOCK 88579Y101 2,540 14,400 SH   SOLE 0 0 0 14,400
A SITE CENTER REIT COMMON STOCK 23317H854 140 10,000 SH   SOLE 0 0 0 10,000
ABBVIE INC COMMON STOCK 00287Y109 3,232 36,500 SH   SOLE 0 0 0 36,500
AFLAC INC COMMON STOCK 001055102 1,899 35,900 SH   SOLE 0 0 0 35,900
AGNC INVESTMENT CORP COMMON STOCK 00123Q104 1,450 82,000 SH   SOLE 0 0 0 82,000
ALEXANDRIA REAL ESTATE EQUIT COMMON STOCK 015271109 1,382 8,550 SH   SOLE 0 0 0 8,550
ALLEGHANY CORP COMMON STOCK 017175100 1,839 2,300 SH   SOLE 0 0 0 2,300
ALLSTATE CORP COMMON STOCK 020002101 2,204 19,600 SH   SOLE 0 0 0 19,600
AMERICAN CAMPUS COMMUNITIES COMMON STOCK 024835100 1,035 22,000 SH   SOLE 0 0 0 22,000
AMERICAN FINANCIAL GROUP INC COMMON STOCK 025932104 1,535 14,000 SH   SOLE 0 0 0 14,000
AMERICAN HOMES 4 RENT- A COMMON STOCK 02665T306 970 37,000 SH   SOLE 0 0 0 37,000
AMERIPRISE FINANCIAL INC COMMON STOCK 03076C106 1,849 11,100 SH   SOLE 0 0 0 11,100
AMGEN INC COMMON STOCK 031162100 3,496 14,500 SH   SOLE 0 0 0 14,500
ANNALY CAPITAL MANAGEMENT IN COMMON STOCK 035710409 1,554 165,000 SH   SOLE 0 0 0 165,000
ANTHEM INC COMMON STOCK 036752103 2,311 7,650 SH   SOLE 0 0 0 7,650
APARTMENT INVT and MGMT CO -A COMMON STOCK 03748R754 1,059 20,509 SH   SOLE 0 0 0 20,509
APPLE HOSPITALITY REIT INC COMMON STOCK 03784Y200 211 13,000 SH   SOLE 0 0 0 13,000
APPLE INC COMMON STOCK 037833100 10,445 35,570 SH   SOLE 0 0 0 35,570
ARMADA HOFFLER PROPERTIES IN COMMON STOCK 04208T108 240 13,101 SH   SOLE 0 0 0 13,101
ATandT INC COMMON STOCK 00206R102 4,729 121,000 SH   SOLE 0 0 0 121,000
AUTOMATIC DATA PROCESSING COMMON STOCK 053015103 2,472 14,500 SH   SOLE 0 0 0 14,500
AUTOZONE INC COMMON STOCK 053332102 1,906 1,600 SH   SOLE 0 0 0 1,600
AVALONBAY COMMUNITIES INC COMMON STOCK 053484101 1,951 9,302 SH   SOLE 0 0 0 9,302
AVERY DENNISON CORP COMMON STOCK 053611109 1,949 14,900 SH   SOLE 0 0 0 14,900
BAXTER INTERNATIONAL INC COMMON STOCK 071813109 2,007 24,000 SH   SOLE 0 0 0 24,000
BEST BUY CO INC COMMON STOCK 086516101 1,914 21,800 SH   SOLE 0 0 0 21,800
BIOGEN INC COMMON STOCK 09062X103 2,225 7,500 SH   SOLE 0 0 0 7,500
BLACKROCK INC COMMON STOCK 09247X101 2,363 4,700 SH   SOLE 0 0 0 4,700
BOOKING HOLDINGS INC COMMON STOCK 741503403 2,670 1,300 SH   SOLE 0 0 0 1,300
BOSTON PROPERTIES INC COMMON STOCK 101121101 802 5,814 SH   SOLE 0 0 0 5,814
BRANDYWINE REALTY TRUST COMMON STOCK 105368203 1,126 71,500 SH   SOLE 0 0 0 71,500
BRISTOL-MYERS SQUIBB CO COMMON STOCK 110122108 3,530 55,000 SH   SOLE 0 0 0 55,000
BRISTOL-MYERS SQUIBB-CVR COMMON STOCK 110122157 69 23,000 SH   SOLE 0 0 0 23,000
BRIXMOR PROPERTY GROUP INC COMMON STOCK 11120U105 1,096 50,711 SH   SOLE 0 0 0 50,711
BROADRIDGE FINANCIAL SOLUTIO COMMON STOCK 11133T103 1,816 14,700 SH   SOLE 0 0 0 14,700
CAMDEN PROPERTY TRUST COMMON STOCK 133131102 1,298 12,231 SH   SOLE 0 0 0 12,231
CBL and ASSOCIATES PROPERTIES COMMON STOCK 124830100 34 32,000 SH   SOLE 0 0 0 32,000
CDW CORP/DE COMMON STOCK 12514G108 1,960 13,725 SH   SOLE 0 0 0 13,725
CELANESE CORP-SERIES A COMMON STOCK 150870103 1,908 15,500 SH   SOLE 0 0 0 15,500
CENTERPOINT ENERGY INC COMMON STOCK 15189T107 1,691 62,000 SH   SOLE 0 0 0 62,000
CERNER CORP COMMON STOCK 156782104 1,615 22,000 SH   SOLE 0 0 0 22,000
CHATHAM LODGING TRUST COMMON STOCK 16208T102 165 9,000 SH   SOLE 0 0 0 9,000
CHURCH and DWIGHT CO INC COMMON STOCK 171340102 1,547 22,000 SH   SOLE 0 0 0 22,000
CINTAS CORP COMMON STOCK 172908105 1,910 7,100 SH   SOLE 0 0 0 7,100
CISCO SYSTEMS INC COMMON STOCK 17275R102 3,741 78,000 SH   SOLE 0 0 0 78,000
CITRIX SYSTEMS INC COMMON STOCK 177376100 1,664 15,000 SH   SOLE 0 0 0 15,000
CLOROX COMPANY COMMON STOCK 189054109 1,612 10,500 SH   SOLE 0 0 0 10,500
COGNIZANT TECH SOLUTIONS-A COMMON STOCK 192446102 1,861 30,000 SH   SOLE 0 0 0 30,000
COLGATE-PALMOLIVE CO COMMON STOCK 194162103 2,065 30,000 SH   SOLE 0 0 0 30,000
COLUMBIA PROPERTY TRUST INC COMMON STOCK 198287203 627 30,000 SH   SOLE 0 0 0 30,000
CORPORATE OFFICE PROPERTIES COMMON STOCK 22002T108 455 15,500 SH   SOLE 0 0 0 15,500
COUSINS PROPERTIES INC COMMON STOCK 222795502 1,479 35,900 SH   SOLE 0 0 0 35,900
CUBESMART COMMON STOCK 229663109 693 22,000 SH   SOLE 0 0 0 22,000
CYRUSONE INC COMMON STOCK 23283R100 995 15,200 SH   SOLE 0 0 0 15,200
Colony Capital Inc COMMON STOCK 19625W104 605 127,286 SH   SOLE 0 0 0 127,286
DARDEN RESTAURANTS INC COMMON STOCK 237194105 1,504 13,800 SH   SOLE 0 0 0 13,800
DIAMONDROCK HOSPITALITY CO COMMON STOCK 252784301 166 15,000 SH   SOLE 0 0 0 15,000
DIGITAL REALTY TRUST INC COMMON STOCK 253868103 1,730 14,447 SH   SOLE 0 0 0 14,447
DOLLAR GENERAL CORP COMMON STOCK 256677105 2,293 14,700 SH   SOLE 0 0 0 14,700
DOMINION ENERGY INC COMMON STOCK 25746U109 2,236 27,000 SH   SOLE 0 0 0 27,000
DOUGLAS EMMETT INC COMMON STOCK 25960P109 176 4,000 SH   SOLE 0 0 0 4,000
DUKE REALTY CORP COMMON STOCK 264411505 545 15,707 SH   SOLE 0 0 0 15,707
Diversified Healthcare Trust COMMON STOCK 25525P107 642 76,100 SH   SOLE 0 0 0 76,100
EASTGROUP PROPERTIES INC COMMON STOCK 277276101 56 422 SH   SOLE 0 0 0 422
EBAY INC COMMON STOCK 278642103 1,697 47,000 SH   SOLE 0 0 0 47,000
ELI LILLY and CO COMMON STOCK 532457108 2,826 21,500 SH   SOLE 0 0 0 21,500
EMERSON ELECTRIC CO COMMON STOCK 291011104 2,166 28,400 SH   SOLE 0 0 0 28,400
EMPIRE STATE REALTY TRUST-A COMMON STOCK 292104106 405 29,000 SH   SOLE 0 0 0 29,000
EPR PROPERTIES COMMON STOCK 26884U109 1,201 17,000 SH   SOLE 0 0 0 17,000
EQUINIX INC COMMON STOCK 29444U700 1,167 2,000 SH   SOLE 0 0 0 2,000
EQUITY RESIDENTIAL COMMON STOCK 29476L107 1,776 21,953 SH   SOLE 0 0 0 21,953
ESSEX PROPERTY TRUST INC COMMON STOCK 297178105 903 3,000 SH   SOLE 0 0 0 3,000
EXELON CORP COMMON STOCK 30161N101 1,983 43,500 SH   SOLE 0 0 0 43,500
EXPEDITORS INTL WASH INC COMMON STOCK 302130109 1,623 20,800 SH   SOLE 0 0 0 20,800
EXXON MOBIL CORP COMMON STOCK 30231G102 4,536 65,000 SH   SOLE 0 0 0 65,000
F5 NETWORKS INC COMMON STOCK 315616102 1,438 10,300 SH   SOLE 0 0 0 10,300
FACEBOOK INC-A COMMON STOCK 30303M102 7,389 36,000 SH   SOLE 0 0 0 36,000
FIRSTENERGY CORP COMMON STOCK 337932107 1,944 40,000 SH   SOLE 0 0 0 40,000
FISERV INC COMMON STOCK 337738108 2,313 20,000 SH   SOLE 0 0 0 20,000
FOUR CORNERS PROPERTY TRUST COMMON STOCK 35086T109 169 6,000 SH   SOLE 0 0 0 6,000
FRANKLIN STREET PROPERTIES C COMMON STOCK 35471R106 171 20,000 SH   SOLE 0 0 0 20,000
GAMING AND LEISURE PROPERTIE COMMON STOCK 36467J108 1,313 30,500 SH   SOLE 0 0 0 30,500
GENERAL MILLS INC COMMON STOCK 370334104 1,928 36,000 SH   SOLE 0 0 0 36,000
GLOBAL MEDICAL REIT INC COMMON STOCK 37954A204 175 13,200 SH   SOLE 0 0 0 13,200
GLOBAL NET LEASE INC COMMON STOCK 379378201 791 38,992 SH   SOLE 0 0 0 38,992
GLOBE LIFE INC COMMON STOCK 37959E102 1,916 18,200 SH   SOLE 0 0 0 18,200
HARTFORD FINANCIAL SVCS GRP COMMON STOCK 416515104 1,762 29,000 SH   SOLE 0 0 0 29,000
HCP INC COMMON STOCK 42250P103 1,482 43,007 SH   SOLE 0 0 0 43,007
HEALTHCARE REALTY TRUST INC COMMON STOCK 421946104 136 4,082 SH   SOLE 0 0 0 4,082
HEALTHCARE TRUST OF AME-CL A COMMON STOCK 42225P501 999 33,000 SH   SOLE 0 0 0 33,000
HERSHA HOSPITALITY TRUST COMMON STOCK 427825500 116 8,000 SH   SOLE 0 0 0 8,000
HERSHEY CO/THE COMMON STOCK 427866108 1,970 13,400 SH   SOLE 0 0 0 13,400
HIGHWOODS PROPERTIES INC COMMON STOCK 431284108 826 16,898 SH   SOLE 0 0 0 16,898
HILTON WORLDWIDE HOLDINGS IN COMMON STOCK 43300A203 1,996 18,000 SH   SOLE 0 0 0 18,000
HOME DEPOT INC COMMON STOCK 437076102 4,237 19,400 SH   SOLE 0 0 0 19,400
HOST HOTELS and RESORTS INC COMMON STOCK 44107P104 1,249 67,343 SH   SOLE 0 0 0 67,343
HP INC COMMON STOCK 40434L105 1,952 95,000 SH   SOLE 0 0 0 95,000
HUDSON PACIFIC PROPERTIES IN COMMON STOCK 444097109 885 23,500 SH   SOLE 0 0 0 23,500
HUMANA INC COMMON STOCK 444859102 2,456 6,700 SH   SOLE 0 0 0 6,700
IDEX CORP COMMON STOCK 45167R104 1,840 10,700 SH   SOLE 0 0 0 10,700
IDEXX LABORATORIES INC COMMON STOCK 45168D104 1,645 6,300 SH   SOLE 0 0 0 6,300
ILLINOIS TOOL WORKS COMMON STOCK 452308109 2,443 13,600 SH   SOLE 0 0 0 13,600
INDUSTRIAL LOGISTICS PROPERT COMMON STOCK 456237106 1,380 61,572 SH   SOLE 0 0 0 61,572
INGERSOLL-RAND PLC COMMON STOCK 000000000 1,967 14,800 SH   SOLE 0 0 0 14,800
INTL BUSINESS MACHINES CORP COMMON STOCK 459200101 2,587 19,300 SH   SOLE 0 0 0 19,300
INTUIT INC COMMON STOCK 461202103 2,246 8,575 SH   SOLE 0 0 0 8,575
INVITATION HOMES INC COMMON STOCK 46187W107 290 9,684 SH   SOLE 0 0 0 9,684
IRON MOUNTAIN INC COMMON STOCK 46284V101 1,163 36,500 SH   SOLE 0 0 0 36,500
KENNEDY-WILSON HOLDINGS INC COMMON STOCK 489398107 301 13,509 SH   SOLE 0 0 0 13,509
KILROY REALTY CORP COMMON STOCK 49427F108 545 6,500 SH   SOLE 0 0 0 6,500
KIMBERLY-CLARK CORP COMMON STOCK 494368103 2,283 16,600 SH   SOLE 0 0 0 16,600
KIMCO REALTY CORP COMMON STOCK 49446R109 420 20,295 SH   SOLE 0 0 0 20,295
KITE REALTY GROUP TRUST COMMON STOCK 49803T300 340 17,400 SH   SOLE 0 0 0 17,400
LAM RESEARCH CORP COMMON STOCK 512807108 2,339 8,000 SH   SOLE 0 0 0 8,000
LENNOX INTERNATIONAL INC COMMON STOCK 526107107 1,610 6,600 SH   SOLE 0 0 0 6,600
LEXINGTON REALTY TRUST COMMON STOCK 529043101 754 71,000 SH   SOLE 0 0 0 71,000
LIBERTY PROPERTY TRUST COMMON STOCK 531172104 1,380 22,984 SH   SOLE 0 0 0 22,984
LOEWS CORP COMMON STOCK 540424108 1,664 31,700 SH   SOLE 0 0 0 31,700
LOWE'S COS INC COMMON STOCK 548661107 2,790 23,300 SH   SOLE 0 0 0 23,300
Life Storage Inc COMMON STOCK 53223X107 704 6,500 SH   SOLE 0 0 0 6,500
MACERICH CO/THE COMMON STOCK 554382101 223 8,266 SH   SOLE 0 0 0 8,266
MACK-CALI REALTY CORP COMMON STOCK 554489104 648 28,000 SH   SOLE 0 0 0 28,000
MANPOWERGROUP INC COMMON STOCK 56418H100 1,554 16,000 SH   SOLE 0 0 0 16,000
MARSH and MCLENNAN COS COMMON STOCK 571748102 2,418 21,700 SH   SOLE 0 0 0 21,700
MASCO CORP COMMON STOCK 574599106 1,785 37,200 SH   SOLE 0 0 0 37,200
MASTERCARD INC - A COMMON STOCK 57636Q104 4,897 16,400 SH   SOLE 0 0 0 16,400
MCDONALD'S CORP COMMON STOCK 580135101 3,102 15,700 SH   SOLE 0 0 0 15,700
MEDICAL PROPERTIES TRUST INC COMMON STOCK 58463J304 1,245 59,000 SH   SOLE 0 0 0 59,000
MERCK and CO. INC. COMMON STOCK 58933Y105 4,275 47,000 SH   SOLE 0 0 0 47,000
METTLER-TOLEDO INTERNATIONAL COMMON STOCK 592688105 1,801 2,270 SH   SOLE 0 0 0 2,270
MICROSOFT CORP COMMON STOCK 594918104 9,602 60,890 SH   SOLE 0 0 0 60,890
MID-AMERICA APARTMENT COMM COMMON STOCK 59522J103 1,615 12,250 SH   SOLE 0 0 0 12,250
MONMOUTH REAL ESTATE INV COR COMMON STOCK 609720107 753 52,000 SH   SOLE 0 0 0 52,000
MONSTER BEVERAGE CORP COMMON STOCK 61174X109 1,856 29,200 SH   SOLE 0 0 0 29,200
MOTOROLA SOLUTIONS INC COMMON STOCK 620076307 1,773 11,000 SH   SOLE 0 0 0 11,000
MSCI INC COMMON STOCK 55354G100 1,807 7,000 SH   SOLE 0 0 0 7,000
NATL HEALTH INVESTORS INC COMMON STOCK 63633D104 774 9,500 SH   SOLE 0 0 0 9,500
NEW SENIOR INVESTMENT GROUP COMMON STOCK 648691103 129 16,863 SH   SOLE 0 0 0 16,863
NEW YORK REIT INC liquidation shs COMMON STOCK 64976L208 0 2,200 SH   SOLE 0 0 0 2,200
O'REILLY AUTOMOTIVE INC COMMON STOCK 67103H107 2,104 4,800 SH   SOLE 0 0 0 4,800
OFFICE PROPERTIES INCOME TRUST COMMON STOCK 67623C109 409 12,714 SH   SOLE 0 0 0 12,714
OMEGA HEALTHCARE INVESTORS COMMON STOCK 681936100 1,186 28,000 SH   SOLE 0 0 0 28,000
OMNICOM GROUP COMMON STOCK 681919106 1,677 20,700 SH   SOLE 0 0 0 20,700
PARK HOTELS and RESORTS INC COMMON STOCK 700517105 236 9,106 SH   SOLE 0 0 0 9,106
PAYCHEX INC COMMON STOCK 704326107 1,842 21,650 SH   SOLE 0 0 0 21,650
PEBBLEBROOK HOTEL TRUST COMMON STOCK 70509V100 170 6,355 SH   SOLE 0 0 0 6,355
PEOPLE'S UNITED FINANCIAL COMMON STOCK 712704105 1,521 90,000 SH   SOLE 0 0 0 90,000
PEPSICO INC COMMON STOCK 713448108 3,786 27,700 SH   SOLE 0 0 0 27,700
PFIZER INC COMMON STOCK 717081103 3,961 101,100 SH   SOLE 0 0 0 101,100
PHYSICIANS REALTY TRUST COMMON STOCK 71943U104 833 44,000 SH   SOLE 0 0 0 44,000
PINNACLE WEST CAPITAL COMMON STOCK 723484101 1,709 19,000 SH   SOLE 0 0 0 19,000
PPG INDUSTRIES INC COMMON STOCK 693506107 2,136 16,000 SH   SOLE 0 0 0 16,000
PPL CORP COMMON STOCK 69351T106 1,891 52,700 SH   SOLE 0 0 0 52,700
PREFERRED APARTMENT COMMUN-A COMMON STOCK 74039L103 400 30,000 SH   SOLE 0 0 0 30,000
PROLOGIS INC COMMON STOCK 74340W103 3,225 36,183 SH   SOLE 0 0 0 36,183
PUBLIC SERVICE ENTERPRISE GP COMMON STOCK 744573106 1,772 30,000 SH   SOLE 0 0 0 30,000
PUBLIC STORAGE COMMON STOCK 74460D109 1,877 8,813 SH   SOLE 0 0 0 8,813
QTS REALTY TRUST INC-CL A COMMON STOCK 74736A103 353 6,500 SH   SOLE 0 0 0 6,500
REGENCY CENTERS CORP COMMON STOCK 758849103 1,420 22,500 SH   SOLE 0 0 0 22,500
REINSURANCE GROUP OF AMERICA COMMON STOCK 759351604 1,631 10,000 SH   SOLE 0 0 0 10,000
RETAIL VALUE INC COMMON STOCK 76133Q102 4 99 SH   SOLE 0 0 0 99
RLJ LODGING TRUST COMMON STOCK 74965L101 510 28,800 SH   SOLE 0 0 0 28,800
RMR GROUP INC/THE - A COMMON STOCK 74967R106 49 1,069 SH   SOLE 0 0 0 1,069
ROBERT HALF INTL INC COMMON STOCK 770323103 1,636 25,900 SH   SOLE 0 0 0 25,900
ROSS STORES INC COMMON STOCK 778296103 2,189 18,800 SH   SOLE 0 0 0 18,800
SandP GLOBAL INC COMMON STOCK 78409V104 2,430 8,900 SH   SOLE 0 0 0 8,900
SABRA HEALTH CARE REIT INC COMMON STOCK 78573L106 1,107 51,874 SH   SOLE 0 0 0 51,874
SEI INVESTMENTS COMPANY COMMON STOCK 784117103 1,833 28,000 SH   SOLE 0 0 0 28,000
SERVICE PROPERTIES TRUST COMMON STOCK 44106M102 663 27,266 SH   SOLE 0 0 0 27,266
SHERWIN-WILLIAMS CO/THE COMMON STOCK 824348106 2,247 3,850 SH   SOLE 0 0 0 3,850
SIMON PROPERTY GROUP INC COMMON STOCK 828806109 1,788 12,000 SH   SOLE 0 0 0 12,000
SIMON PROPERTY GROUP INC COMMON STOCK 828806109 3,650 24,506 SH   SOLE 0 0 0 24,506
SL GREEN REALTY CORP COMMON STOCK 78440X101 1,663 18,100 SH   SOLE 0 0 0 18,100
SL GREEN REALTY CORP COMMON STOCK 78440X101 851 9,257 SH   SOLE 0 0 0 9,257
SNAP-ON INC COMMON STOCK 833034101 1,525 9,000 SH   SOLE 0 0 0 9,000
SPIRIT REALTY CAPITAL INC COMMON STOCK 84860W300 954 19,400 SH   SOLE 0 0 0 19,400
STAG INDUSTRIAL INC COMMON STOCK 85254J102 858 27,163 SH   SOLE 0 0 0 27,163
STARBUCKS CORP COMMON STOCK 855244109 2,945 33,500 SH   SOLE 0 0 0 33,500
STORE CAPITAL CORP COMMON STOCK 862121100 1,117 30,000 SH   SOLE 0 0 0 30,000
STRYKER CORP COMMON STOCK 863667101 2,393 11,400 SH   SOLE 0 0 0 11,400
SUMMIT HOTEL PROPERTIES INC COMMON STOCK 866082100 231 18,700 SH   SOLE 0 0 0 18,700
SYSCO CORP COMMON STOCK 871829107 2,113 24,700 SH   SOLE 0 0 0 24,700
TANGER FACTORY OUTLET CENTER COMMON STOCK 875465106 420 28,500 SH   SOLE 0 0 0 28,500
TARGET CORP COMMON STOCK 87612E106 2,436 19,000 SH   SOLE 0 0 0 19,000
TAUBMAN CENTERS INC COMMON STOCK 876664103 187 6,000 SH   SOLE 0 0 0 6,000
TEXAS INSTRUMENTS INC COMMON STOCK 882508104 3,002 23,400 SH   SOLE 0 0 0 23,400
TJX COMPANIES INC COMMON STOCK 872540109 2,503 41,000 SH   SOLE 0 0 0 41,000
TRACTOR SUPPLY COMPANY COMMON STOCK 892356106 1,542 16,500 SH   SOLE 0 0 0 16,500
TRAVELERS COS INC/THE COMMON STOCK 89417E109 1,904 13,900 SH   SOLE 0 0 0 13,900
UDR INC COMMON STOCK 902653104 888 19,019 SH   SOLE 0 0 0 19,019
UMH PROPERTIES INC COMMON STOCK 903002103 582 37,000 SH   SOLE 0 0 0 37,000
UNITEDHEALTH GROUP INC COMMON STOCK 91324P102 4,762 16,200 SH   SOLE 0 0 0 16,200
UNITI GROUP INC COMMON STOCK 91325V108 131 16,000 SH   SOLE 0 0 0 16,000
URSTADT BIDDLE - CLASS A COMMON STOCK 917286205 422 17,000 SH   SOLE 0 0 0 17,000
US BANCORP COMMON STOCK 902973304 2,514 42,400 SH   SOLE 0 0 0 42,400
VENTAS INC COMMON STOCK 92276F100 1,628 28,200 SH   SOLE 0 0 0 28,200
VENTAS INC COMMON STOCK 92276F100 2,071 35,862 SH   SOLE 0 0 0 35,862
VEREIT INC COMMON STOCK 92339V100 1,386 150,000 SH   SOLE 0 0 0 150,000
VEREIT INC COMMON STOCK 92339V100 1,506 163,000 SH   SOLE 0 0 0 163,000
VERIZON COMMUNICATIONS INC COMMON STOCK 92343V104 4,390 71,500 SH   SOLE 0 0 0 71,500
VISA INC-CLASS A SHARES COMMON STOCK 92826C839 5,148 27,400 SH   SOLE 0 0 0 27,400
VORNADO REALTY TRUST COMMON STOCK 929042109 747 11,237 SH   SOLE 0 0 0 11,237
VORNADO REALTY TRUST COMMON STOCK 929042109 1,643 24,700 SH   SOLE 0 0 0 24,700
WASHINGTON REIT COMMON STOCK 939653101 525 18,000 SH   SOLE 0 0 0 18,000
WASTE MANAGEMENT INC COMMON STOCK 94106L109 2,199 19,300 SH   SOLE 0 0 0 19,300
WELLTOWER INC COMMON STOCK 95040Q104 1,983 24,247 SH   SOLE 0 0 0 24,247
WESTERN UNION CO COMMON STOCK 959802109 1,759 65,700 SH   SOLE 0 0 0 65,700
WP CAREY INC COMMON STOCK 92936U109 560 7,000 SH   SOLE 0 0 0 7,000
WW GRAINGER INC COMMON STOCK 384802104 1,726 5,100 SH   SOLE 0 0 0 5,100
YUM! BRANDS INC COMMON STOCK 988498101 1,793 17,800 SH   SOLE 0 0 0 17,800
ZOETIS INC COMMON STOCK 98978V103 2,448 18,500 SH   SOLE 0 0 0 18,500