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
ACADIA RLTY TR COM SH BEN INT 004239109 535 29,307 SH   SOLE 29,307 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 15,297 208,811 SH   SOLE 208,811 0 0
AMB PROPERTY CORP COM 00163T109 5,728 396,680 SH   SOLE 396,680 0 0
AVALONBAY CMNTYS INC COM 053484101 3,037 26,981 SH   SOLE 26,981 0 0
BOSTON PROPERTIES INC COM 101121101 6,944 80,647 SH   SOLE 80,647 0 0
DOUGLAS EMMETT INC COM 25960P109 4,344 261,677 SH   SOLE 261,677 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 1,476 69,400 SH   SOLE 69,400 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 8,571 164,977 SH   SOLE 164,977 0 0
ESSEX PPTY TR INC COM 297178105 16,918 148,122 SH   SOLE 148,122 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 13,173 169,038 SH   SOLE 169,038 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 6,005 399,349 SH   SOLE 399,349 0 0
HOME PROPERTIES INC COM 437306103 21,871 394,141 SH   SOLE 394,141 0 0
HOST HOTELS & RESORTS INC COM 44107P104 24,352 1,362,721 SH   SOLE 1,362,721 0 0
KILROY RLTY CORP COM 49427F108 10,610 290,911 SH   SOLE 290,911 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 1,778 67,342 SH   SOLE 67,342 0 0
REGENCY CTRS CORP COM 758849103 10,409 246,424 SH   SOLE 246,424 0 0
SIMON PPTY GROUP INC NEW COM 828806109 34,890 372,978 SH   SOLE 372,978 0 0
SL GREEN RLTY CORP COM 78440X101 20,448 302,883 SH   SOLE 302,883 0 0
VORNADO RLTY TR SH BEN INT 929042109 10,894 130,733 SH   SOLE 130,733 0 0