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
AGREE REALTY CORP COM 008492100 1,438 20,400 SH   SOLE   20,400 0 0
AMERICAN HOMES 4 RENT- A CL A 02665T306 10,680 274,900 SH   SOLE   274,900 0 0
AMERICAN TOWER CORP COM 03027X100 16,614 61,500 SH   SOLE   61,500 0 0
APARTMENT INCOME REIT CO COM 03750L109 1,666 35,118 SH   SOLE   35,118 0 0
BOSTON PROPERTIES INC COM 101121101 2,471 21,560 SH   SOLE   21,560 0 0
BROOKDALE SENIOR LIVING INC COM 112463104 2,921 369,700 SH   SOLE   369,700 0 0
CARETRUST REIT INC COM 14174T107 2,337 100,586 SH   SOLE   100,586 0 0
COUSINS PROPERTIES INC COM 222795502 769 20,910 SH   SOLE   20,910 0 0
CROWN CASTLE INTL CORP COM 22822V101 15,237 78,100 SH   SOLE   78,100 0 0
CUBESMART COM 229663109 8,517 183,868 SH   SOLE   183,868 0 0
CYRUSONE INC COM 23283R100 7,860 109,900 SH   SOLE   109,900 0 0
DOUGLAS EMMETT INC COM 25960P109 646 19,201 SH   SOLE   19,201 0 0
EQUINIX INC COM 29444U700 17,384 21,660 SH   SOLE   21,660 0 0
EQUITY LIFESTYLE PROPERTIES COM 29472R108 9,926 133,570 SH   SOLE   133,570 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 8,154 105,900 SH   SOLE   105,900 0 0
EXTRA SPACE STORAGE INC COM 30225T102 1,188 7,251 SH   SOLE   7,251 0 0
KIMCO REALTY CORP COM 49446R109 2,952 141,600 SH   SOLE   141,600 0 0
LIFE STORAGE INC COM 53223X107 948 8,834 SH   SOLE   8,834 0 0
MACERICH CO/THE --- 554382101 2,904 159,100 SH   SOLE   159,100 0 0
MID-AMERICA APARTMENT COMM COM 59522J103 10,206 60,600 SH   SOLE   60,600 0 0
NATIONAL RETAIL PROPERTIES COM 637417106 924 19,700 SH   SOLE   19,700 0 0
NATL HEALTH INVESTORS INC COM 63633D104 626 9,335 SH   SOLE   9,335 0 0
PROLOGIS INC COM 74340W103 15,097 126,300 SH   SOLE   126,300 0 0
PS BUSINESS PARKS INC/CA COM 69360J107 10,173 68,700 SH   SOLE   68,700 0 0
PUBLIC STORAGE COM 74460D109 6,628 22,044 SH   SOLE   22,044 0 0
REXFORD INDUSTRIAL REALTY IN COM 76169C100 16,544 290,500 SH   SOLE   290,500 0 0
SBA COMMUNICATIONS CORP CL A 78410G104 2,677 8,400 SH   SOLE   8,400 0 0
SIMON PROPERTY GROUP INC COM 828806109 1,068 8,186 SH   SOLE   8,186 0 0
SL GREEN REALTY CORP COM 78440X804 2,246 28,074 SH   SOLE   28,074 0 0
SUMMIT HOTEL PROPERTIES INC COM 866082100 3,102 332,500 SH   SOLE   332,500 0 0
SUN COMMUNITIES INC COM 866674104 594 3,464 SH   SOLE   3,464 0 0
TERRENO REALTY CORP COM 88146M101 1,747 27,072 SH   SOLE   27,072 0 0