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 5,252 368,035 SH   SOLE 368,035 0 0
AMB PROPERTY CORP COM 00163T109 903 65,043 SH   SOLE 65,043 0 0
AVALONBAY CMNTYS INC COM 053484101 4,326 71,412 SH   SOLE 71,412 0 0
BOSTON PROPERTIES INC COM 101121101 6,895 125,371 SH   SOLE 125,371 0 0
ESSEX PPTY TR INC COM 297178105 2,846 37,079 SH   SOLE 37,079 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 26,724 430,469 SH   SOLE 422,744 0 7,725
HOME PROPERTIES INC COM 437306103 7,737 190,572 SH   SOLE 190,572 0 0
HOST HOTELS & RESORTS INC COM 44107P104 3,881 512,731 SH   SOLE 512,731 0 0
KILROY RLTY CORP COM 49427F108 811 24,247 SH   SOLE 24,247 0 0
KIMCO REALTY CORP COM 49446R109 1,908 104,401 SH   SOLE 104,401 0 0
PROLOGIS SH BEN INT 743410102 4 161 SH   SOLE 161 0 0
PUBLIC STORAGE COM 74460D109 12,696 159,701 SH   SOLE 159,701 0 0
REGENCY CTRS CORP COM 758849103 12,332 264,068 SH   SOLE 255,147 0 8,921
SIMON PPTY GROUP INC NEW COM 828806109 26,203 537,047 SH   SOLE 521,034 0 16,013
SL GREEN RLTY CORP COM 78440X101 3,337 128,833 SH   SOLE 128,833 0 0
VORNADO RLTY TR SH BEN INT 929042109 7,782 128,945 SH   SOLE 128,945 0 0