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 17,737 590,039 SH   SOLE   590,039 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 94,826 857,999 SH   SOLE   857,999 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 34,494 724,819 SH   SOLE   724,819 0 0
AMERICAN TOWER CORP NEW COM 03027X100 87,731 721,825 SH   SOLE   721,825 0 0
BOSTON PROPERTIES INC COM 101121101 43,374 327,572 SH   SOLE   327,572 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 27,924 1,301,201 SH   SOLE   1,301,201 0 0
COLONY STARWOOD HOMES COM 19625X102 43,240 1,273,647 SH   SOLE   1,273,647 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 73,008 6,547,808 SH   SOLE   6,547,808 0 0
DIGITAL RLTY TR INC COM 253868103 55,624 522,834 SH   SOLE   522,834 0 0
DOUGLAS EMMETT INC COM 25960P109 76,504 1,992,285 SH   SOLE   1,992,285 0 0
EMPIRE ST RLTY TR INC CL A 292104106 117,200 5,678,278 SH   SOLE   5,678,278 0 0
EQUINIX INC COM PAR $0.001 29444U700 215,032 537,083 SH   SOLE   526,006 0 11,077
EQUITY COMWLTH COM SH BEN INT 294628102 78,565 2,516,487 SH   SOLE   2,516,487 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 107,000 1,388,534 SH   SOLE   1,388,534 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 8,761 140,800 SH   SOLE   140,800 0 0
ESSEX PPTY TR INC COM 297178105 67,648 292,177 SH   SOLE   292,177 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 24,226 181,465 SH   SOLE   181,465 0 0
GGP INC COM 36174X101 93,296 4,024,856 SH   SOLE   4,024,856 0 0
INTERXION HOLDING N.V SHS N47279109 55,181 1,394,876 SH   SOLE   1,394,876 0 0
KILROY RLTY CORP COM 49427F108 130,719 1,813,523 SH   SOLE   1,813,523 0 0
PROLOGIS INC COM 74340W103 179,268 3,455,429 SH   SOLE   3,418,734 0 36,695
PUBLIC STORAGE COM 74460D109 40,740 186,102 SH   SOLE   186,102 0 0
SIMON PPTY GROUP INC NEW COM 828806109 173,634 1,009,326 SH   SOLE   1,009,326 0 0
TERRENO RLTY CORP COM 88146M101 38,807 1,385,981 SH   SOLE   1,385,981 0 0
URBAN EDGE PPTYS COM 91704F104 16,207 616,245 SH   SOLE   616,245 0 0
VENTAS INC COM 92276F100 43,175 663,816 SH   SOLE   663,816 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 63,093 2,017,055 SH   SOLE   2,017,055 0 0