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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 87,283 601,829 SH   SOLE   425,609 0 176,220
AMEREN CORP COM 023608102 822 9,100 SH   SOLE   9,100 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 65,065 1,009,226 SH   SOLE   689,450 0 319,776
CAMDEN PPTY TR SH BEN INT 133131102 83,278 619,263 SH   SOLE   435,484 0 183,779
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 63,708 2,432,529 SH   SOLE   1,745,326 0 687,203
CUBESMART COM 229663109 132,506 3,101,738 SH   SOLE   2,244,200 0 857,538
EQUINIX INC COM 29444U700 445,550 678,137 SH   SOLE   485,407 0 192,730
EQUITY COMWLTH COM SH BEN INT 294628102 24,902 904,530 SH   SOLE   402,988 0 501,542
EQUITY LIFESTYLE PPTYS INC COM 29472R108 202,018 2,866,730 SH   SOLE   2,060,047 0 806,683
EQUITY RESIDENTIAL SH BEN INT 29476L107 476,373 6,596,137 SH   SOLE   4,786,263 0 1,809,874
ESSEX PPTY TR INC COM 297178105 366,331 1,400,828 SH   SOLE   1,017,433 0 383,395
EXELON CORP COM 30161N101 792 17,480 SH   SOLE   17,480 0 0
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101 254,920 2,662,628 SH   SOLE   1,929,081 0 733,547
HEALTHCARE RLTY TR COM 421946104 167,065 6,142,092 SH   SOLE   4,505,650 0 1,636,442
HEALTHPEAK PROPERTIES INC COM 42250P103 279,097 10,771,782 SH   SOLE   7,792,620 0 2,979,162
HOST HOTELS & RESORTS INC COM 44107P104 224,752 14,333,673 SH   SOLE   10,320,482 0 4,013,191
INVITATION HOMES INC COM 46187W107 629,873 17,703,018 SH   SOLE   12,815,118 0 4,887,900
KILROY RLTY CORP COM 49427F108 198,033 3,784,319 SH   SOLE   2,720,953 0 1,063,366
KIMCO RLTY CORP COM 49446R109 494,566 25,015,969 SH   SOLE   18,028,607 0 6,987,362
PROLOGIS INC. COM 74340W103 686,661 5,836,469 SH   SOLE   4,202,372 0 1,634,097
PUBLIC STORAGE COM 74460D109 399,123 1,276,500 SH   SOLE   920,660 0 355,840
PUBLIC SVC ENTERPRISE GRP IN COM 744573106 575 9,090 SH   SOLE   9,090 0 0
RAYONIER INC COM 754907103 132,867 3,554,496 SH   SOLE   2,588,990 0 965,506
REXFORD INDL RLTY INC COM 76169C100 304,063 5,279,788 SH   SOLE   3,833,591 0 1,446,197
SWITCH INC CL A 87105L104 4,361 130,185 SH   SOLE   0 0 130,185
TERRENO RLTY CORP COM 88146M101 35,793 642,256 SH   SOLE   471,127 0 171,129
URBAN EDGE PPTYS COM 91704F104 116,481 7,658,199 SH   SOLE   5,769,669 0 1,888,530
WELLTOWER INC COM 95040Q104 673,483 8,178,299 SH   SOLE   5,955,496 0 2,222,803
WP CAREY INC COM 92936U109 101,464 1,224,521 SH   SOLE   853,437 0 371,084
XCEL ENERGY INC COM 98389B100 379 5,350 SH   SOLE   5,350 0 0