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
AMERICAN CAMPUS COMMUNITIES INC COMM STK 024835100 198,470 4,170,419 SH   SOLE   237,346 0 3,933,073
AMERICAN TOWER CORP COMM STK 03027X100 306,673 2,523,226 SH   SOLE   232,157 0 2,291,069
AVALONBAY COMMUNITIES INC COMM STK 053484101 507,148 2,762,244 SH   SOLE   229,691 0 2,532,553
BOSTON PROPERTIES INC COMM STK 101121101 465,900 3,518,614 SH   SOLE   295,559 0 3,223,055
BRIXMOR PROPERTY GROUP INC COMM STK 11120U105 187,401 8,732,564 SH   SOLE   503,766 0 8,228,798
CAMDEN PROPERTY TRUST COMM STK 133131102 320,772 3,986,726 SH   SOLE   220,304 0 3,766,422
CORPORATE OFFICE PROPERTIES TRUST COMM STK 22002T108 81,697 2,468,187 SH   SOLE   142,911 0 2,325,276
COUSINS PROPERTIES INC COMM STK 222795106 257 31,079 SH   SOLE   31,079 0 0
CROWN CASTLE INTL CORP COMM STK 22822V101 211,754 2,241,966 SH   SOLE   137,869 0 2,104,097
CUBESMART COMM STK 229663109 251,693 9,695,406 SH   SOLE   581,554 0 9,113,852
DOUGLAS EMMETT INC COMM STK 25960P109 3,284 85,514 SH   SOLE   85,514 0 0
DUKE REALTY CORP COMM STK 264411505 180,155 6,857,824 SH   SOLE   506,008 0 6,351,816
DUPONT FABROS TECHNOLOGY INC COMM STK 26613Q106 99,552 2,007,506 SH   SOLE   85,498 0 1,922,008
EDUCATION REALTY TRUST INC COMM STK 28140H203 532 13,032 SH   SOLE   13,032 0 0
EQUINIX INC COMM STK 29444U700 191,101 477,310 SH   SOLE   27,364 0 449,946
EQUITY RESIDENTIAL COMM STK 29476L107 711,363 11,433,036 SH   SOLE   698,974 0 10,734,062
ESSEX PROPERTY TRUST INC COMM STK 297178105 7,918 34,200 SH   SOLE   34,200 0 0
FEDERAL REALTY INVESTMENT TRUST COMM STK 313747206 184,735 1,383,780 SH   SOLE   116,640 0 1,267,140
GGP INC COMM STK 36174X101 233,447 10,071,057 SH   SOLE   629,672 0 9,441,385
HCP INC COMM STK 40414L109 2,261 72,269 SH   SOLE   72,269 0 0
HUDSON PACIFIC PROPERTIES INC COMM STK 444097109 1,114 32,169 SH   SOLE   32,169 0 0
KILROY REALTY CORP COMM STK 49427F108 2,544 35,300 SH   SOLE   35,300 0 0
KIMCO REALTY CORP COMM STK 49446R109 2,070 93,700 SH   SOLE   93,700 0 0
LASALLE HOTEL PROPERTIES COMM STK 517942108 184,412 6,370,014 SH   SOLE   303,512 0 6,066,502
LIFE STORAGE INC COMM STK 53223X107 156,286 1,903,145 SH   SOLE   106,703 0 1,796,442
NATIONAL RETAIL PROPERTIES INC COMM STK 637417106 1,159 26,560 SH   SOLE   26,560 0 0
PARAMOUNT GROUP INC COMM STK 69924R108 108,910 6,718,713 SH   SOLE   427,217 0 6,291,496
PARK HOTELS & RESORTS INC COMM STK 700517105 117,437 4,574,870 SH   SOLE   180,108 0 4,394,762
PROLOGIS INC COMM STK 74340W103 182,823 3,523,952 SH   SOLE   322,529 0 3,201,423
PUBLIC STORAGE COMM STK 74460D109 350,624 1,601,683 SH   SOLE   151,628 0 1,450,055
REGENCY CENTERS CORP COMM STK 758849103 167,880 2,528,692 SH   SOLE   204,758 0 2,323,934
RLJ LODGING TRUST COMM STK 74965L101 160,755 6,837,731 SH   SOLE   347,171 0 6,490,560
SIMON PROPERTY GROUP INC COMM STK 828806109 1,031,203 5,994,322 SH   SOLE   423,871 0 5,570,451
SL GREEN REALTY CORP COMM STK 78440X101 233,058 2,185,872 SH   SOLE   101,852 0 2,084,020
SPIRIT REALTY CAPITAL INC COMM STK 84860W102 149,659 14,773,801 SH   SOLE   780,433 0 13,993,368
TAUBMAN CENTERS INC COMM STK 876664103 141,442 2,142,414 SH   SOLE   189,373 0 1,953,041
URBAN EDGE PROPERTIES COMM STK 91704F104 784 29,800 SH   SOLE   29,800 0 0
URSTADT BIDDLE PROPERTIES INC COMM STK 917286205 212 10,335 SH   SOLE   10,335 0 0
VENTAS INC COMM STK 92276F100 177,555 2,729,943 SH   SOLE   271,012 0 2,458,931
VEREIT INC COMM STK 92339V100 136,940 16,129,586 SH   SOLE   633,275 0 15,496,311
VORNADO REALTY TRUST COMM STK 929042109 448,687 4,473,002 SH   SOLE   297,947 0 4,175,055
WELLTOWER INC COMM STK 95040Q104 621,164 8,771,031 SH   SOLE   484,462 0 8,286,569
WEYERHAEUSER CO COMM STK 962166104 37,238 1,095,878 SH   SOLE   123,232 0 972,646