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
AMERICAN CAMPUS CMNTYS INC COM 024835100 7,541 158,465 SH   SOLE   158,465 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 3,300 238,646 SH   SOLE   238,646 0 0
BANK MONTREAL QUE COM 063671101 3,911 39,375 SH   SOLE   39,375 0 0
BANK N S HALIFAX COM 064149107 3,337 42,892 SH   SOLE   42,892 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 4,095 281,155 SH   SOLE   281,155 0 0
BOSTON PROPERTIES INC COM 101121101 11,211 84,672 SH   SOLE   84,672 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 7,592 353,758 SH   SOLE   353,758 0 0
CAMDEN PPTY TR SH BEN INT 133131102 11,102 137,982 SH   SOLE   137,982 0 0
CARE CAP PPTYS INC COM 141624106 2,873 169,494 SH   SOLE   169,494 0 0
CBL & ASSOC PPTYS INC COM 124830100 3,232 847,587 SH   SOLE   847,587 0 0
CDN IMPERIAL BK COMM TORONTO COM 136069101 3,481 30,357 SH   SOLE   30,357 0 0
COLONY NORTHSTAR INC CL A COM 19625W104 1,590 349,164 SH   SOLE   349,164 0 0
COLONY STARWOOD HOMES COM 19625X102 10,916 321,529 SH   SOLE   321,529 0 0
CUBESMART COM 229663109 12,436 537,247 SH   SOLE   537,247 0 0
DDR CORP COM 23317H102 15,470 1,234,618 SH   SOLE   1,234,618 0 0
DIGITAL RLTY TR INC COM 253868103 11,586 108,902 SH   SOLE   108,902 0 0
DOUGLAS EMMETT INC COM 25960P109 7,002 182,353 SH   SOLE   182,353 0 0
DUKE REALTY CORP COM NEW 264411505 4,396 167,353 SH   SOLE   167,353 0 0
ESSEX PPTY TR INC COM 297178105 13,989 67,657 SH   SOLE   67,657 0 0
GGP INC COM 36174X101 11,068 549,200 SH   SOLE   549,200 0 0
HCP INC COM 40414L109 12,920 476,027 SH   SOLE   476,027 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 8,876 151,830 SH   SOLE   151,830 0 0
KILROY RLTY CORP COM 49427F108 6,681 92,695 SH   SOLE   92,695 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 2,891 171,024 SH   SOLE   171,024 0 0
MANULIFE FINL CORP COM 56501R106 3,239 137,309 SH   SOLE   137,309 0 0
MFA FINL INC COM 55272X102 2,517 462,496 SH   SOLE   462,496 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 2,188 126,888 SH   SOLE   126,888 0 0
PROLOGIS INC COM 74340W103 11,104 214,040 SH   SOLE   214,040 0 0
REGENCY CTRS CORP COM 758849103 6,124 92,240 SH   SOLE   92,240 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 3,831 39,537 SH   SOLE   39,537 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 2,179 120,501 SH   SOLE   120,501 0 0
SIMON PPTY GROUP INC NEW COM 828806109 15,836 92,053 SH   SOLE   92,053 0 0
SL GREEN RLTY CORP COM 78440X101 13,432 143,204 SH   SOLE   143,204 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 3,549 540,581 SH   SOLE   540,581 0 0
STAG INDL INC COM 85254J102 3,016 191,127 SH   SOLE   191,127 0 0
STARWOOD PPTY TR INC COM 85571B105 3,737 359,689 SH   SOLE   359,689 0 0
SUN LIFE FINL INC COM 866796105 3,657 75,300 SH   SOLE   75,300 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 3,570 232,897 SH   SOLE   232,897 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 3,770 56,596 SH   SOLE   56,596 0 0
TWO HBRS INVT CORP COM 90187B101 1,910 281,800 SH   SOLE   281,800 0 0
WESTERN ASSET MTG CAP CORP COM 95790D105 1,775 423,743 SH   SOLE   423,743 0 0