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
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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
ACADIA RLTY TR COM SH BEN INT 004239109 24,838 749,269 SH   SOLE   749,269 0 0
AVALONBAY CMNTYS INC COM 053484101 129,597 703,836 SH   SOLE   703,836 0 0
CUBESMART COM 229663109 18,402 600,976 SH   SOLE   600,976 0 0
DDR CORP COM 23317H102 13,382 794,679 SH   SOLE   794,679 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 48,151 4,989,696 SH   SOLE   4,989,696 0 0
DOUGLAS EMMETT INC COM 25960P109 65,326 2,095,127 SH   SOLE   2,095,127 0 0
EMPIRE ST RLTY TR INC CL A 292104106 78,519 4,345,249 SH   SOLE   4,345,249 0 0
EQUINIX INC COM PAR $0.001 29444U700 42,986 142,150 SH   SOLE   142,150 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 95,627 1,434,330 SH   SOLE   1,434,330 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 120,383 1,475,465 SH   SOLE   1,475,465 0 0
ESSEX PPTY TR INC COM 297178105 41,402 172,933 SH   SOLE   172,933 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 96,176 658,290 SH   SOLE   652,581 0 5,709
GENERAL GROWTH PPTYS INC NEW COM 370023103 107,135 3,937,329 SH   SOLE   3,937,329 0 0
HOST HOTELS & RESORTS INC COM 44107P104 18,140 1,182,555 SH   SOLE   1,182,555 0 0
KILROY RLTY CORP COM 49427F108 59,759 944,357 SH   SOLE   944,357 0 0
PROLOGIS INC COM 74340W103 54,324 1,265,696 SH   SOLE   1,265,696 0 0
SIMON PPTY GROUP INC NEW COM 828806109 209,760 1,078,790 SH   SOLE   1,078,790 0 0
SL GREEN RLTY CORP COM 78440X101 65,491 579,673 SH   SOLE   573,734 0 5,939
TERRENO RLTY CORP COM 88146M101 31,839 1,407,552 SH   SOLE   1,407,552 0 0
URBAN EDGE PPTYS COM 91704F104 36,376 1,551,195 SH   SOLE   1,551,195 0 0
VENTAS INC COM 92276F100 13,281 235,353 SH   SOLE   235,353 0 0