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
AGREE REALTY CORP COMM STK 008492100 2,527 52,612 SH   SOLE   0 0 52,612
ALEXANDRIA REAL ESTATE EQUITIES INC COMM STK 015271109 3,003 24,047 SH   SOLE   0 0 24,047
AMERICAN CAMPUS COMMUNITIES INC COMM STK 024835100 144,421 3,739,547 SH   SOLE   271,523 0 3,468,024
AMERICAN HOMES 4 RENT COMM STK 02665T306 55,517 2,764,768 SH   SOLE   171,951 0 2,592,817
AMERICAN TOWER CORP COMM STK 03027X100 93,889 645,999 SH   SOLE   137,176 0 508,823
AVALONBAY COMMUNITIES INC COMM STK 053484101 315,420 1,917,912 SH   SOLE   214,529 0 1,703,383
BOSTON PROPERTIES INC COMM STK 101121101 252,360 2,048,043 SH   SOLE   233,005 0 1,815,038
BRIXMOR PROPERTY GROUP INC COMM STK 11120U105 108,876 7,139,441 SH   SOLE   517,292 0 6,622,149
CAMDEN PROPERTY TRUST COMM STK 133131102 107,911 1,281,909 SH   SOLE   94,260 0 1,187,649
CORPORATE OFFICE PROPERTIES TRUST COMM STK 22002T108 826 31,989 SH   SOLE   31,989 0 0
CROWN CASTLE INTL CORP COMM STK 22822V101 96,669 881,932 SH   SOLE   69,720 0 812,212
CUBESMART COMM STK 229663109 171,938 6,097,087 SH   SOLE   437,549 0 5,659,538
DIGITAL REALTY TRUST INC COMM STK 253868103 120,794 1,146,269 SH   SOLE   53,853 0 1,092,416
DOUGLAS EMMETT INC COMM STK 25960P109 3,143 85,514 SH   SOLE   85,514 0 0
DUKE REALTY CORP COMM STK 264411505 107,949 4,076,630 SH   SOLE   476,584 0 3,600,046
EDUCATION REALTY TRUST INC COMM STK 28140H203 571 17,433 SH   SOLE   17,433 0 0
EQUINIX INC COMM STK 29444U700 48,801 116,709 SH   SOLE   9,438 0 107,271
EQUITY LIFESTYLE PROPERTIES INC COMM STK 29472R108 6,688 76,200 SH   SOLE   0 0 76,200
EQUITY RESIDENTIAL COMM STK 29476L107 381,426 6,189,969 SH   SOLE   521,870 0 5,668,099
ESSEX PROPERTY TRUST INC COMM STK 297178105 7,655 31,806 SH   SOLE   31,806 0 0
EXTRA SPACE STORAGE INC COMM STK 30225T102 3,325 38,064 SH   SOLE   0 0 38,064
FEDERAL REALTY INVESTMENT TRUST COMM STK 313747206 84,713 729,594 SH   SOLE   92,293 0 637,301
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 44,500 1,522,424 SH   SOLE   107,632 0 1,414,792
HCP INC COMM STK 40414L109 186,241 8,017,277 SH   SOLE   612,790 0 7,404,487
HEALTHCARE TRUST OF AMERICA COMM STK 42225P501 4,708 178,000 SH   SOLE   0 0 178,000
HUDSON PACIFIC PROPERTIES INC COMM STK 444097109 794 24,419 SH   SOLE   24,419 0 0
INDUSTRIAL LOGISTICS PPTY TRUST COMM STK 456237106 24,536 1,206,282 SH   SOLE   99,538 0 1,106,744
IRON MOUNTAIN INC COMM STK 46284V101 2,540 77,288 SH   SOLE   0 0 77,288
KILROY REALTY CORP COMM STK 49427F108 2,505 35,300 SH   SOLE   35,300 0 0
KIMCO REALTY CORP COMM STK 49446R109 1,349 93,700 SH   SOLE   93,700 0 0
LASALLE HOTEL PROPERTIES COMM STK 517942108 97,457 3,359,442 SH   SOLE   190,979 0 3,168,463
NATIONAL RETAIL PROPERTIES INC COMM STK 637417106 102,633 2,614,194 SH   SOLE   181,482 0 2,432,712
OMEGA HEALTHCARE INVESTORS INC COMM STK 681936100 4,651 172,000 SH   SOLE   0 0 172,000
OUTFRONT MEDIA INC COMM STK 69007J106 3,148 168,000 SH   SOLE   0 0 168,000
PARAMOUNT GROUP INC COMM STK 69924R108 75,416 5,296,095 SH   SOLE   386,523 0 4,909,572
PARK HOTELS & RESORTS INC COMM STK 700517105 95,095 3,519,433 SH   SOLE   228,218 0 3,291,215
PROLOGIS INC COMM STK 74340W103 116,312 1,846,512 SH   SOLE   244,178 0 1,602,334
PUBLIC STORAGE COMM STK 74460D109 311,100 1,552,474 SH   SOLE   169,417 0 1,383,057
QTS REALTY TRUST INC COMM STK 74736A103 48,968 1,351,953 SH   SOLE   72,550 0 1,279,403
REALTY INCOME CORP COMM STK 756109104 4,754 91,905 SH   SOLE   10,260 0 81,645
REGENCY CENTERS CORP COMM STK 758849103 123,159 2,088,144 SH   SOLE   225,694 0 1,862,450
RLJ LODGING TRUST COMM STK 74965L101 90,979 4,680,007 SH   SOLE   309,563 0 4,370,444
SIMON PROPERTY GROUP INC COMM STK 828806109 569,420 3,689,145 SH   SOLE   354,839 0 3,334,306
SL GREEN REALTY CORP COMM STK 78440X101 142,988 1,476,688 SH   SOLE   91,516 0 1,385,172
TAUBMAN CENTERS INC COMM STK 876664103 103,619 1,820,760 SH   SOLE   199,883 0 1,620,877
VENTAS INC COMM STK 92276F100 13,511 272,775 SH   SOLE   125,729 0 147,046
VEREIT INC COMM STK 92339V100 96,088 13,805,711 SH   SOLE   593,019 0 13,212,692
VICI PROPERTIES INC COMM STK 925652109 3,462 189,000 SH   SOLE   0 0 189,000
VORNADO REALTY TRUST COMM STK 929042109 232,866 3,460,115 SH   SOLE   310,735 0 3,149,380
WELLTOWER INC COMM STK 95040Q104 322,077 5,917,267 SH   SOLE   401,250 0 5,516,017
WEYERHAEUSER CO COMM STK 962166104 751 21,460 SH   SOLE   21,460 0 0