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 108,286 3,082,443 SH   DFND 1,2,3 0 3,082,443 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 536,366 5,901,268 SH   DFND 1,2,3 0 5,901,268 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 81,230 1,725,000 SH   DFND 1,2,3 0 1,725,000 0
AVALONBAY CMNTYS INC COM 053484101 714,619 3,757,197 SH   DFND 1,2,3 0 3,757,197 0
BOSTON PROPERTIES INC COM 101121101 783,225 6,163,245 SH   DFND 1,2,3 0 6,163,245 0
BRIXMOR PPTY GROUP INC COM 11120U105 418,079 16,318,450 SH   DFND 1,2,3 0 16,318,450 0
CAMDEN PPTY TR SH BEN INT 133131102 44,820 533,000 SH   DFND 1,2,3 0 533,000 0
CARE CAP PPTYS INC COM 141624106 51,037 1,901,515 SH   DFND 1,2,3 0 1,901,515 0
CYRUSONE INC COM 23283R100 52,738 1,155,263 SH   DFND 1,2,3 0 1,155,263 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 135,013 3,420,648 SH   DFND 1,2,3 0 3,420,648 0
DIGITAL RLTY TR INC COM 253868103 327,740 3,703,696 SH   DFND 1,2,3 0 3,703,696 0
DUKE REALTY CORP COM NEW 264411505 91,663 4,066,663 SH   DFND 1,2,3 0 4,066,663 0
EPR PPTYS CONV PFD 9% SR E 26884U307 1,400 40,000 SH   DFND 1,2,3 0 40,000 0
EQUINIX INC COM PAR $0.001 29444U700 16,536 50,000 SH   DFND 1,2,3 0 50,000 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 126,839 1,743,964 SH   DFND 1,2,3 0 1,743,964 0
EQUITY ONE COM 294752100 91,186 3,181,661 SH   DFND 1,2,3 0 3,181,661 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 957,408 12,760,338 SH   DFND 1,2,3 0 12,760,338 0
EXTRA SPACE STORAGE INC COM 30225T102 135,701 1,451,973 SH   DFND 1,2,3 0 1,451,973 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 102,557 3,449,600 SH   DFND 1,2,3 0 3,449,600 0
HCP INC COM 40414L109 87,966 2,700,000 SH   DFND 1,2,3 0 2,700,000 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 84,604 2,875,732 SH   DFND 1,2,3 0 2,875,732 0
HIGHWOODS PPTYS INC COM 431284108 105,613 2,209,014 SH   DFND 1,2,3 0 2,209,014 0
HILTON WORLDWIDE HLDGS INC COM 43300A104 76,410 3,393,000 SH   DFND 1,2,3 0 3,393,000 0
HOST HOTELS & RESORTS INC COM 44107P104 513,275 30,735,044 SH   DFND 1,2,3 0 30,735,044 0
KILROY RLTY CORP COM 49427F108 82,757 1,337,597 SH   DFND 1,2,3 0 1,337,597 0
KIMCO RLTY CORP COM 49446R109 332,433 11,550,850 SH   DFND 1,2,3 0 11,550,850 0
LEXINGTON REALTY TRUST PFD CONV SER C 529043309 487 10,000 SH   DFND 1,2,3 0 10,000 0
MID-AMER APT CMNTYS INC COM 59522J103 96,679 945,887 SH   DFND 1,2,3 0 945,887 0
NATIONAL RETAIL PPTYS INC COM 637417106 72,857 1,577,000 SH   DFND 1,2,3 0 1,577,000 0
NEW YORK REIT INC COM 64976L109 37,999 3,762,314 SH   DFND 1,2,3 0 3,762,314 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 54,776 2,506,900 SH   DFND 1,2,3 0 2,506,900 0
POST PPTYS INC COM 737464107 251,438 4,208,876 SH   DFND 1,2,3 0 4,208,876 0
PROLOGIS INC COM 74340W103 807,730 18,282,717 SH   DFND 1,2,3 0 18,282,717 0
PUBLIC STORAGE COM 74460D109 1,008,321 3,655,587 SH   DFND 1,2,3 0 3,655,587 0
QTS RLTY TR INC COM CL A 74736A103 84,751 1,788,757 SH   DFND 1,2,3 0 1,788,757 0
REGENCY CTRS CORP COM 758849103 393,950 5,263,191 SH   DFND 1,2,3 0 5,263,191 0
RLJ LODGING TR COM 74965L101 44,480 1,944,060 SH   DFND 1,2,3 0 1,944,060 0
SABRA HEALTH CARE REIT INC COM 78573L106 44,438 2,211,947 SH   DFND 1,2,3 0 2,211,947 0
SIMON PPTY GROUP INC NEW COM 828806109 1,443,257 6,949,092 SH   DFND 1,2,3 0 6,949,092 0
STORE CAP CORP COM 862121100 84,446 3,263,000 SH   DFND 1,2,3 0 3,263,000 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 48,881 3,491,470 SH   DFND 1,2,3 0 3,491,470 0
TAUBMAN CTRS INC COM 876664103 271,395 3,810,128 SH   DFND 1,2,3 0 3,810,128 0
TERRENO RLTY CORP COM 88146M101 43,993 1,876,047 SH   DFND 1,2,3 0 1,876,047 0
UDR INC COM 902653104 133,425 3,462,894 SH   DFND 1,2,3 0 3,462,894 0
VENTAS INC COM 92276F100 861,360 13,681,063 SH   DFND 1,2,3 0 13,681,063 0
VORNADO RLTY TR SH BEN INT 929042109 537,062 5,687,407 SH   DFND 1,2,3 0 5,687,407 0