The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 Realty Trust | COM | 004239109 | 69,671 | 2,101,680 | SH | DFND | 01,02 | 1,710,280 | 0 | 391,400 | |
| Alexander & Baldwin Inc. | COM | 014491104 | 44,109 | 1,249,202 | SH | DFND | 01,02 | 1,116,202 | 0 | 133,000 | |
| Alexandria R.E. Equities | COM | 015271109 | 21,162 | 234,200 | SH | DFND | 01,02 | 144,200 | 0 | 90,000 | |
| American Assets Trust | COM | 024013104 | 59,330 | 1,547,059 | SH | DFND | 01,02 | 1,238,159 | 0 | 308,900 | |
| American Campus Communities | COM | 024835100 | 46,441 | 1,123,397 | SH | DFND | 01,02 | 936,997 | 0 | 186,400 | |
| American Homes 4 Rent | COM | 02665T306 | 40,494 | 2,430,611 | SH | DFND | 01,02 | 1,850,211 | 0 | 580,400 | |
| Avalon Bay Communities | COM | 053484101 | 291,051 | 1,580,684 | SH | DFND | 01,02 | 1,218,984 | 0 | 361,700 | |
| Biomed Realty Trust Inc. | COM | 09063H107 | 2,132 | 90,000 | SH | DFND | 01,02 | 56,000 | 0 | 34,000 | |
| Boston Properties Inc. | COM | 101121101 | 298,818 | 2,342,936 | SH | DFND | 01,02 | 1,789,136 | 0 | 553,800 | |
| Camden Property Trust | COM | 133131102 | 127,786 | 1,664,748 | SH | DFND | 01,02 | 1,268,448 | 0 | 396,300 | |
| Chatham Lodging Trust | COM | 16208T102 | 33,536 | 1,637,482 | SH | DFND | 01,02 | 1,491,082 | 0 | 146,400 | |
| CubeSmart | COM | 229663109 | 121,443 | 3,966,120 | SH | DFND | 01,02 | 3,158,820 | 0 | 807,300 | |
| DCT Industrial Trust Inc. | COM | 233153204 | 1,887 | 50,500 | SH | DFND | 01,02 | 32,000 | 0 | 18,500 | |
| DDR Corp | COM | 251591103 | 72,535 | 4,307,324 | SH | DFND | 01,02 | 3,522,724 | 0 | 784,600 | |
| Douglas Emmett Inc. | COM | 25960P109 | 43,236 | 1,386,661 | SH | DFND | 01,02 | 1,140,461 | 0 | 246,200 | |
| Dupont Fabros Technology | COM | 26613Q106 | 80,287 | 2,525,557 | SH | DFND | 01,02 | 1,994,457 | 0 | 531,100 | |
| Empire State Realty Trust Inc. | COM | 292104106 | 46,018 | 2,546,662 | SH | DFND | 01,02 | 1,992,462 | 0 | 554,200 | |
| EPR Properties | COM | 26884U109 | 7,306 | 125,000 | SH | DFND | 01,02 | 0 | 0 | 125,000 | |
| Equity Lifestyle Properties | COM | 29472R108 | 77,049 | 1,155,675 | SH | DFND | 01,02 | 996,675 | 0 | 159,000 | |
| Equity Residential | COM | 29476L107 | 335,237 | 4,108,797 | SH | DFND | 01,02 | 3,221,397 | 0 | 887,400 | |
| Extended Stay America Inc | COM | 30224P200 | 58,636 | 3,687,806 | SH | DFND | 01,02 | 3,105,406 | 0 | 582,400 | |
| Federal Realty Invs Trust | COM | 313747206 | 185,549 | 1,270,016 | SH | DFND | 01,02 | 948,416 | 0 | 321,600 | |
| General Growth Properties | COM | 370023103 | 12,666 | 465,500 | SH | DFND | 01,02 | 310,500 | 0 | 155,000 | |
| Forest City Enterprises - Class A | COM | 345550107 | 105,468 | 4,809,302 | SH | DFND | 01,02 | 3,763,502 | 0 | 1,045,800 | |
| Gramercy Property Trust | COM | 385002100 | 66,778 | 8,649,977 | SH | DFND | 01,02 | 6,887,752 | 0 | 1,762,225 | |
| Hilton Worldwide Holdings Inc. | COM | 43300A104 | 68,226 | 3,188,132 | SH | DFND | 01,02 | 2,552,432 | 0 | 635,700 | |
| Host Hotels & Resorts | COM | 44107P104 | 91,593 | 5,970,883 | SH | DFND | 01,02 | 4,958,883 | 0 | 1,012,000 | |
| Kilroy Realty Corp. | COM | 49427F108 | 2,765 | 43,700 | SH | DFND | 01,02 | 20,700 | 0 | 23,000 | |
| Macerich Company | COM | 554382101 | 94,988 | 1,177,191 | SH | DFND | 01,02 | 923,591 | 0 | 253,600 | |
| National Retail Properties | COM | 637417106 | 2,563 | 64,000 | SH | DFND | 01,02 | 40,000 | 0 | 24,000 | |
| Omega Healthcare Investors | COM | 681936100 | 3,830 | 109,500 | SH | DFND | 01,02 | 68,000 | 0 | 41,500 | |
| Paramount Group Inc | COM | 69924R108 | 96,552 | 5,334,371 | SH | DFND | 01,02 | 4,130,971 | 0 | 1,203,400 | |
| Piedmont Office Realty Trust | COM | 720190206 | 119,179 | 6,312,472 | SH | DFND | 01,02 | 5,029,172 | 0 | 1,283,300 | |
| Post Properties Inc. | COM | 737464107 | 2,662 | 45,000 | SH | DFND | 01,02 | 32,000 | 0 | 13,000 | |
| ProLogis Inc | COM | 74340W103 | 273,795 | 6,379,199 | SH | DFND | 01,02 | 4,911,199 | 0 | 1,468,000 | |
| Public Storage Inc. | COM | 74460D109 | 342,445 | 1,382,500 | SH | DFND | 01,02 | 1,068,300 | 0 | 314,200 | |
| Retail Opportunity Investments Corp. | COM | 76131N101 | 43,587 | 2,435,014 | SH | DFND | 01,02 | 1,954,014 | 0 | 481,000 | |
| Retail Properties of America Inc. | COM | 76131V202 | 2,363 | 160,000 | SH | DFND | 01,02 | 100,000 | 0 | 60,000 | |
| Rexford Industrial Realty | COM | 76169C100 | 65,113 | 3,980,029 | SH | DFND | 01,02 | 3,196,629 | 0 | 783,400 | |
| RLJ Lodging Trust | COM | 74965L101 | 36,261 | 1,676,429 | SH | DFND | 01,02 | 1,529,729 | 0 | 146,700 | |
| Simon Property Group | COM | 828806109 | 548,909 | 2,823,025 | SH | DFND | 01,02 | 2,200,225 | 0 | 622,800 | |
| Store Capital Corp. | COM | 862121100 | 50,610 | 2,181,459 | SH | DFND | 01,02 | 1,756,359 | 0 | 425,100 | |
| Tanger Factory Outlets | COM | 875465106 | 60,881 | 1,861,819 | SH | DFND | 01,02 | 1,495,119 | 0 | 366,700 | |
| Taubman Centers Inc. | COM | 876664103 | 115,549 | 1,506,119 | SH | DFND | 01,02 | 1,227,419 | 0 | 278,700 | |
| Ventas Inc. | COM | 92276F100 | 206,669 | 3,662,400 | SH | DFND | 01,02 | 2,841,200 | 0 | 821,200 | |
| Vornado Realty Trust | COM | 929042109 | 43,705 | 437,227 | SH | DFND | 01,02 | 350,127 | 0 | 87,100 | |
| Welltower Inc | COM | 95040Q104 | 256,606 | 3,771,954 | SH | DFND | 01,02 | 2,913,154 | 0 | 858,800 | |