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
ACN SHSCLASSA G1151C101 38,702 316,792 SH   SOLE   316,792 0 0
AIV CLA 03748R101 2,938 64,000 SH   SOLE   64,000 0 0
AMH CLA 02665T306 1,781 82,300 SH   SOLE   82,300 0 0
BDN SHBENINTNEW 105368203 1,470 94,100 SH   SOLE   94,100 0 0
CBL COM 124830100 1,450 119,400 SH   SOLE   119,400 0 0
CARE CAPITAL PR COM 141624106 1,294 45,400 SH   SOLE   45,400 0 0
DDR COM 23317H102 2,376 136,300 SH   SOLE   136,300 0 0
DCT COMNEW 233153204 2,228 45,900 SH   SOLE   45,900 0 0
COLUMBIA COMNEW 198287203 1,424 63,600 SH   SOLE   63,600 0 0
OFC SHBENINT 22002T108 1,630 57,500 SH   SOLE   57,500 0 0
CUBE COM 229663109 2,113 77,500 SH   SOLE   77,500 0 0
EII COM 281020107 16,379 226,700 SH   SOLE   226,700 0 0
DEI COM 25960P109 2,125 58,000 SH   SOLE   58,000 0 0
EDR COMNEW 28140H203 1,579 36,600 SH   SOLE   36,600 0 0
EPR COMSHBENINT 26884U109 2,197 27,900 SH   SOLE   27,900 0 0
DRH COM 252784301 1,229 135,100 SH   SOLE   135,100 0 0
DFTUS COM 26613Q106 1,473 35,700 SH   SOLE   35,700 0 0
EGP COM 277276101 1,567 21,300 SH   SOLE   21,300 0 0
FCE/A COMCLA 345605109 2,288 98,900 SH   SOLE   98,900 0 0
ELS COM 29472R108 2,331 30,200 SH   SOLE   30,200 0 0
FRUS COM 32054K103 1,721 61,000 SH   SOLE   61,000 0 0
FTV COM 34959J108 16,401 322,211 SH   SOLE   322,211 0 0
HIW COM 431284108 2,465 47,300 SH   SOLE   47,300 0 0
HEALTHC CLANEW 42225P501 2,306 70,700 SH   SOLE   70,700 0 0
GPT US COM 385002100 2,108 218,700 SH   SOLE   218,700 0 0
GRANITE UNIT99/99/9999 387437114 1,511 37,700 SH   SOLE   37,700 0 0
GOV US COMSHSBENINT 38376A103 1,362 60,200 SH   SOLE   60,200 0 0
GLPI US COM 36467J108 2,820 84,300 SH   SOLE   84,300 0 0
HR COM 421946104 1,921 56,400 SH   SOLE   56,400 0 0
HPT COMSHBENINT 44106M102 2,176 73,200 SH   SOLE   73,200 0 0
KRC COM 49427F108 2,719 39,200 SH   SOLE   39,200 0 0
LHOUS COMSHBENINT 517942108 1,377 57,700 SH   SOLE   57,700 0 0
LXP COM 529043101 1,647 159,900 SH   SOLE   159,900 0 0
MPW COM 58463J304 1,691 114,500 SH   SOLE   114,500 0 0
CLI COM 554489104 1,239 45,500 SH   SOLE   45,500 0 0
NNN COM 637417106 2,939 57,800 SH   SOLE   57,800 0 0
NHI COM 63633D104 1,813 23,100 SH   SOLE   23,100 0 0
OHI COM 681936100 2,563 72,300 SH   SOLE   72,300 0 0
PPS COM 737464107 2,057 31,100 SH   SOLE   31,100 0 0
PIEDM COMCLA 720190206 2,046 94,000 SH   SOLE   94,000 0 0
PKY COM 70159Q104 1,180 69,400 SH   SOLE   69,400 0 0
DOC US COM 71943U104 2,104 97,700 SH   SOLE   97,700 0 0
RGA COMNEW 759351604 40,226 372,666 SH   SOLE   372,666 0 0
RJR COM 761713106 3,758 79,700 SH   SOLE   79,700 0 0
RLJ COM 74965L101 1,316 62,600 SH   SOLE   62,600 0 0
RYMAN COM 78377T107 1,320 27,400 SH   SOLE   27,400 0 0
RPT COMSHBENINT 751452202 2,103 112,200 SH   SOLE   112,200 0 0
RPAI CLA 76131V202 1,986 118,200 SH   SOLE   118,200 0 0
QTS COMCLA 74736A103 1,305 24,700 SH   SOLE   24,700 0 0
SCG COM 80589M102 13,859 191,500 SH   SOLE   191,500 0 0
SLB COM 806857108 71,299 906,651 SH   SOLE   906,651 0 0
SSS COM 84610H108 2,090 23,500 SH   SOLE   23,500 0 0
SNH SHBENINT 81721M109 2,341 103,100 SH   SOLE   103,100 0 0
TEVA ADR 881624209 27,123 589,507 SH   SOLE   589,507 0 0
TU COM 87971M103 67,648 2,049,939 SH   SOLE   2,049,939 0 0
SKT COM 875465106 1,827 46,900 SH   SOLE   46,900 0 0
SUI COM 866674104 2,072 26,400 SH   SOLE   26,400 0 0
SHO COM 867892101 1,374 107,400 SH   SOLE   107,400 0 0
STORE REIT COM 862121100 2,116 71,800 SH   SOLE   71,800 0 0
STAG COM 85254J102 1,544 63,000 SH   SOLE   63,000 0 0
2,330 SPONSOREDADR 874039100 55,880 1,826,743 SH   SOLE   1,826,743 0 0
THS COM 89469A104 74,947 859,585 SH   SOLE   859,585 0 0
TCO COM 876664103 2,106 28,300 SH   SOLE   28,300 0 0
URBAN EDGE PROP COM 91704F104 1,331 47,300 SH   SOLE   47,300 0 0
WPCARE COM 92936U109 2,459 38,100 SH   SOLE   38,100 0 0
WRI SHBENINT 948741103 2,058 52,800 SH   SOLE   52,800 0 0
WPGUS COM 93964W108 1,198 96,800 SH   SOLE   96,800 0 0
XHR US COM 984017103 1,151 75,800 SH   SOLE   75,800 0 0