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 7,366 95,370 SH   SOLE   95,370 0 0
AMERICAN TOWER CORP NEW COM 03027X100 11,464 39,438 SH   SOLE   39,438 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 554 15,400 SH   SOLE   15,400 0 0
AVALONBAY CMNTYS INC COM 053484101 11,273 34,273 SH   SOLE   34,273 0 0
BANK MONTREAL QUE COM 063671101 6,523 33,511 SH   SOLE   33,511 0 0
BANK N S HALIFAX COM 064149107 5,794 36,504 SH   SOLE   36,504 0 0
BOSTON PROPERTIES INC COM 101121101 17,907 72,663 SH   SOLE   72,663 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 10,903 357,478 SH   SOLE   357,478 0 0
CAMDEN PPTY TR SH BEN INT 133131102 22,410 133,110 SH   SOLE   133,110 0 0
CDN IMPERIAL BK COMM TORONTO COM 136069101 5,876 25,835 SH   SOLE   25,835 0 0
COLONY NORTHSTAR INC CL A COM 19625W104 715 63,588 SH   SOLE   63,588 0 0
DDR CORP COM 23317H102 12,433 848,058 SH   SOLE   848,058 0 0
DIGITAL RLTY TR INC COM 253868103 25,553 121,240 SH   SOLE   121,240 0 0
DOUGLAS EMMETT INC COM 25960P109 11,301 153,709 SH   SOLE   153,709 0 0
ESSEX PPTY TR INC COM 297178105 17,665 36,699 SH   SOLE   36,699 0 0
EXTRA SPACE STORAGE INC COM 30225T102 15,937 91,215 SH   SOLE   91,215 0 0
GGP INC COM 36174X101 11,705 286,046 SH   SOLE   286,046 0 0
GRANITE PT MTG TR INC COM 38741L107 816 24,667 SH   SOLE   24,667 0 0
HCP INC COM 40414L109 19,120 411,532 SH   SOLE   411,532 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 10,892 205,900 SH   SOLE   205,900 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 20,355 129,223 SH   SOLE   129,223 0 0
HUDSON PAC PPTYS INC COM 444097109 11,379 174,900 SH   SOLE   174,900 0 0
INVITATION HOMES INC COM 46187W107 17,783 389,465 SH   SOLE   389,465 0 0
KIMCO RLTY CORP COM 49446R109 682 23,685 SH   SOLE   23,685 0 0
KITE RLTY GROUP TR COM NEW 49803T300 910 29,867 SH   SOLE   29,867 0 0
MANULIFE FINL CORP COM 56501R106 5,590 116,856 SH   SOLE   116,856 0 0
MFA FINL INC COM 55272X102 566 37,600 SH   SOLE   37,600 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 626 11,800 SH   SOLE   11,800 0 0
PARK HOTELS RESORTS INC COM 700517105 911 16,857 SH   SOLE   16,857 0 0
PROLOGIS INC COM 74340W103 14,590 115,813 SH   SOLE   115,813 0 0
REGENCY CTRS CORP COM 758849103 20,366 172,650 SH   SOLE   172,650 0 0
ROYAL BK CDA MONTREAL QUE COM 780087102 6,697 33,648 SH   SOLE   33,648 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,050 29,747 SH   SOLE   29,747 0 0
SIMON PPTY GROUP INC NEW COM 828806109 13,938 45,150 SH   SOLE   45,150 0 0
SL GREEN RLTY CORP COM 78440X101 17,392 106,484 SH   SOLE   106,484 0 0
STAG INDL INC COM 85254J102 724 15,129 SH   SOLE   15,129 0 0
STARWOOD PPTY TR INC COM 85571B105 930 22,191 SH   SOLE   22,191 0 0
SUN LIFE FINL INC COM 866796105 6,781 64,084 SH   SOLE   64,084 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 7,043 48,166 SH   SOLE   48,166 0 0
TPG RE FIN TR INC COM 87266M107 1,347 253,271 SH   SOLE   253,271 0 0
VICI PPTYS INC COM 925652109 12,828 350,106 SH   SOLE   350,106 0 0