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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 3,405 20,726 SH   SOLE   20,726 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 17,222 398,926 SH   SOLE   398,926 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 9,574 657,119 SH   SOLE   657,119 0 0
AVALONBAY CMNTYS INC COM 053484101 7,770 42,114 SH   SOLE   42,114 0 0
BOSTON PROPERTIES INC COM 101121101 3,068 30,300 SH   SOLE   30,300 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 8,092 174,500 SH   SOLE   174,500 0 0
CAPRI HOLDINGS LIMITED SHS G1890L107 7,686 150,700 SH   SOLE   150,700 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 9,167 127,976 SH   SOLE   127,976 0 0
ESSEX PPTY TR INC COM 297178105 7,427 27,320 SH   SOLE   27,320 0 0
HUDSON PAC PPTYS INC COM 444097109 9,115 335,991 SH   SOLE   335,991 0 0
KILROY RLTY CORP COM 49427F108 7,923 120,726 SH   SOLE   120,726 0 0
LAS VEGAS SANDS CORP COM 517834107 4,053 66,700 SH   SOLE   66,700 0 0
MARRIOTT INTL INC NEW CL A 571903202 6,932 46,800 SH   SOLE   46,800 0 0
PROLOGIS INC. COM 74340W103 4,865 45,900 SH   SOLE   45,900 0 0
ROSS STORES INC COM 778296103 12,830 107,000 SH   SOLE   107,000 0 0
TJX COS INC NEW COM 872540109 6,403 96,800 SH   SOLE   96,800 0 0
YUM BRANDS INC COM 988498101 12,333 114,000 SH   SOLE   114,000 0 0