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

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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
AMERICAN CAMPUS CMNTYS INC COM 024835100 13,121 272,900 SH   SOLE   272,900 0 0
APARTMENT INVT & MGMT CO CL A 03748R754 2,160 41,419 SH   SOLE   41,419 0 0
AVALONBAY CMNTYS INC COM 053484101 71,425 331,700 SH   SOLE   331,700 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 1,427 94,200 SH   SOLE   94,200 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 33,663 1,659,100 SH   SOLE   1,659,100 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 14,183 670,600 SH   SOLE   670,600 0 0
CUBESMART COM 229663109 15,590 446,700 SH   SOLE   446,700 0 0
DIGITAL RLTY TR INC COM 253868103 44,525 343,000 SH   SOLE   343,000 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 1,399 65,700 SH   SOLE   65,700 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 12,665 94,800 SH   SOLE   94,800 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,044 12,100 SH   SOLE   12,100 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 20,693 152,000 SH   SOLE   152,000 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 1,683 44,000 SH   SOLE   44,000 0 0
HCP INC COM 40414L109 1,083 30,400 SH   SOLE   30,400 0 0
HEALTHCARE RLTY TR COM 421946104 1,447 43,200 SH   SOLE   43,200 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 14,417 490,715 SH   SOLE   490,715 0 0
HIGHWOODS PPTYS INC COM 431284108 2,777 61,800 SH   SOLE   61,800 0 0
HUDSON PAC PPTYS INC COM 444097109 47,148 1,409,100 SH   SOLE   1,409,100 0 0
INVITATION HOMES INC COM 46187W107 36,411 1,229,700 SH   SOLE   1,229,700 0 0
KITE RLTY GROUP TR COM NEW 49803T300 1,219 75,500 SH   SOLE   75,500 0 0
LIBERTY PPTY TR SH BEN INT 531172104 395 7,700 SH   SOLE   7,700 0 0
MACERICH CO COM 554382101 43,661 1,382,100 SH   SOLE   1,382,100 0 0
PARAMOUNT GROUP INC COM 69924R108 45,462 3,405,400 SH   SOLE   3,405,400 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 8,081 1,412,700 SH   SOLE   1,412,700 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 1,036 49,600 SH   SOLE   49,600 0 0
PROLOGIS INC COM 74340W103 80,652 946,400 SH   SOLE   946,400 0 0
REGENCY CTRS CORP COM 758849103 994 14,300 SH   SOLE   14,300 0 0
RETAIL PPTYS AMER INC CL A 76131V202 1,742 141,400 SH   SOLE   141,400 0 0
SIMON PPTY GROUP INC NEW COM 828806109 1,463 9,400 SH   SOLE   9,400 0 0
SITE CENTERS CORP COM 82981J109 1,504 47,500 SH   SOLE   47,500 0 0
SL GREEN RLTY CORP COM 78440X101 14,453 176,800 SH   SOLE   176,800 0 0
STORE CAP CORP COM 862121100 1,306 34,900 SH   SOLE   34,900 0 0
TAUBMAN CTRS INC COM 876664103 645 15,800 SH   SOLE   15,800 0 0
VENTAS INC COM 92276F100 52,728 722,000 SH   SOLE   722,000 0 0
VICI PPTYS INC COM 925652109 14,944 659,800 SH   SOLE   659,800 0 0
WELLTOWER INC COM 95040Q104 2,420 26,700 SH   SOLE   26,700 0 0