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 46,714 729,329 SH   SOLE   42,105 0 687,224
ALEXANDRIA REAL ESTATE EQUITIES INC COMM STK 015271109 120,621 854,922 SH   SOLE   39,686 0 815,236
AMERICAN CAMPUS COMMUNITIES INC COMM STK 024835100 106,984 2,317,676 SH   SOLE   239,122 0 2,078,554
AMERICAN HOMES 4 RENT COMM STK 02665T306 396 16,306 SH   SOLE   16,306 0 0
AMERICAN TOWER CORP COMM STK 03027X100 20,558 100,552 SH   SOLE   100,552 0 0
AVALONBAY COMMUNITIES INC COMM STK 053484101 267,016 1,314,184 SH   SOLE   149,578 0 1,164,606
BOSTON PROPERTIES INC COMM STK 101121101 137,353 1,064,751 SH   SOLE   152,645 0 912,106
BRIXMOR PROPERTY GROUP INC COMM STK 11120U105 94 5,268 SH   SOLE   5,268 0 0
CORECIVIC INC COMM STK 21871N101 45,362 2,185,059 SH   SOLE   85,725 0 2,099,334
CORESITE REALTY CORP COMM STK 21870Q105 45,974 399,184 SH   SOLE   26,109 0 373,075
CROWN CASTLE INTL CORP COMM STK 22822V101 30,695 235,478 SH   SOLE   44,247 0 191,231
CUBESMART COMM STK 229663109 120,065 3,590,469 SH   SOLE   217,917 0 3,372,552
DIGITAL REALTY TRUST INC COMM STK 253868103 62,379 529,581 SH   SOLE   25,412 0 504,169
DOUGLAS EMMETT INC COMM STK 25960P109 3,407 85,514 SH   SOLE   85,514 0 0
DUKE REALTY CORP COMM STK 264411505 81,677 2,583,913 SH   SOLE   292,138 0 2,291,775
EQUINIX INC COMM STK 29444U700 19,416 38,501 SH   SOLE   2,610 0 35,891
EQUITY LIFESTYLE PROPERTIES INC COMM STK 29472R108 5,777 47,613 SH   SOLE   0 0 47,613
EQUITY RESIDENTIAL COMM STK 29476L107 228,805 3,013,764 SH   SOLE   248,900 0 2,764,864
ESSEX PROPERTY TRUST INC COMM STK 297178105 9,285 31,806 SH   SOLE   31,806 0 0
EXTRA SPACE STORAGE INC COMM STK 30225T102 4,039 38,064 SH   SOLE   0 0 38,064
FEDERAL REALTY INVESTMENT TRUST COMM STK 313747206 4,212 32,713 SH   SOLE   32,713 0 0
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 94,351 2,568,074 SH   SOLE   144,682 0 2,423,392
HCP INC COMM STK 40414L109 7,049 220,415 SH   SOLE   59,546 0 160,869
HEALTHCARE TRUST OF AMERICA COMM STK 42225P501 93,814 3,420,133 SH   SOLE   151,425 0 3,268,708
HIGHWOODS PROPERTIES INC COMM STK 431284108 46,084 1,115,827 SH   SOLE   56,892 0 1,058,935
HUDSON PACIFIC PROPERTIES INC COMM STK 444097109 122 3,655 SH   SOLE   3,655 0 0
INDUSTRIAL LOGISTICS PPTY TRUST COMM STK 456237106 23,852 1,145,648 SH   SOLE   108,887 0 1,036,761
INVITATION HOMES INC COMM STK 46187W107 110,102 4,119,052 SH   SOLE   235,607 0 3,883,445
IRON MOUNTAIN INC COMM STK 46284V101 3,567 113,962 SH   SOLE   0 0 113,962
KILROY REALTY CORP COMM STK 49427F108 2,605 35,300 SH   SOLE   35,300 0 0
MACERICH CO/THE COMM STK 554382101 50,275 1,501,190 SH   SOLE   70,792 0 1,430,398
NATIONAL HEALTH INVESTORS INC COMM STK 63633D104 62,191 797,017 SH   SOLE   34,248 0 762,769
NATIONAL RETAIL PROPERTIES INC COMM STK 637417106 67,043 1,264,718 SH   SOLE   49,621 0 1,215,097
OMEGA HEALTHCARE INVESTORS INC COMM STK 681936100 8,863 241,181 SH   SOLE   0 0 241,181
OUTFRONT MEDIA INC COMM STK 69007J106 3,244 125,773 SH   SOLE   0 0 125,773
PARAMOUNT GROUP INC COMM STK 69924R108 164 11,695 SH   SOLE   11,695 0 0
PARK HOTELS & RESORTS INC COMM STK 700517105 46,136 1,674,006 SH   SOLE   104,932 0 1,569,074
PEBBLEBROOK HOTEL TRUST COMM STK 70509V100 62,851 2,230,358 SH   SOLE   152,786 0 2,077,572
PROLOGIS INC COMM STK 74340W103 105,754 1,320,271 SH   SOLE   130,879 0 1,189,392
PUBLIC STORAGE COMM STK 74460D109 279,375 1,173,005 SH   SOLE   128,032 0 1,044,973
REALTY INCOME CORP COMM STK 756109104 4,205 60,972 SH   SOLE   0 0 60,972
REGENCY CENTERS CORP COMM STK 758849103 155,798 2,334,402 SH   SOLE   208,969 0 2,125,433
SBA COMMUNICATIONS CORP COMM STK 78410G104 40,702 181,028 SH   SOLE   16,146 0 164,882
SIMON PROPERTY GROUP INC COMM STK 828806109 217,568 1,361,843 SH   SOLE   188,817 0 1,173,026
SIMON PROPERTY GROUP INC COMM STK 828806109 5,307 33,217 SH   OTR   0 0 33,217
SL GREEN REALTY CORP COMM STK 78440X101 111,906 1,392,390 SH   SOLE   79,480 0 1,312,910
SUNSTONE HOTEL INVESTORS INC COMM STK 867892101 61,555 4,489,781 SH   SOLE   198,786 0 4,290,995
TAUBMAN CENTERS INC COMM STK 876664103 57,996 1,420,431 SH   SOLE   138,673 0 1,281,758
VENTAS INC COMM STK 92276F100 15,205 222,461 SH   SOLE   125,729 0 96,732
VEREIT INC COMM STK 92339V100 61,360 6,810,163 SH   SOLE   197,306 0 6,612,857
VICI PROPERTIES INC COMM STK 925652109 98,456 4,467,164 SH   SOLE   236,875 0 4,230,289
VORNADO REALTY TRUST COMM STK 929042109 119,360 1,862,093 SH   SOLE   175,455 0 1,686,638
WEINGARTEN REALTY INVESTORS COMM STK 948741103 67,405 2,458,240 SH   SOLE   111,468 0 2,346,772
WELLTOWER INC COMM STK 95040Q104 206,954 2,538,382 SH   SOLE   153,331 0 2,385,051
WEYERHAEUSER CO COMM STK 962166104 53,928 2,047,374 SH   SOLE   115,084 0 1,932,290