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 | 62,214 | 1,783,644 | SH | DFND | 01,02 | 1,602,744 | 0 | 180,900 | |
| Alexander & Baldwin Inc. | COM | 014491104 | 43,482 | 1,007,000 | SH | DFND | 01,02 | 902,800 | 0 | 104,200 | |
| Alexandria R.E. Equities | COM | 015271109 | 27,549 | 281,000 | SH | DFND | 01,02 | 187,500 | 0 | 93,500 | |
| American Assets Trust | COM | 024013104 | 65,022 | 1,502,354 | SH | DFND | 01,02 | 1,363,421 | 0 | 138,933 | |
| American Campus Communities | COM | 024835100 | 45,408 | 1,059,207 | SH | DFND | 01,02 | 967,707 | 0 | 91,500 | |
| American Homes 4 Rent | COM | 02665T306 | 16,191 | 978,300 | SH | DFND | 01,02 | 869,600 | 0 | 108,700 | |
| Avalon Bay Communities | COM | 053484101 | 287,074 | 1,647,484 | SH | DFND | 01,02 | 1,423,584 | 0 | 223,900 | |
| AVIV REIT Inc. | COM | 05381L101 | 3,759 | 103,000 | SH | DFND | 01,02 | 103,000 | 0 | 0 | |
| Biomed Realty Trust Inc. | COM | 09063H107 | 69,404 | 3,062,842 | SH | DFND | 01,02 | 2,781,042 | 0 | 281,800 | |
| Boston Properties Inc. | COM | 101121101 | 311,779 | 2,219,383 | SH | DFND | 01,02 | 1,885,583 | 0 | 333,800 | |
| Camden Property Trust | COM | 133131102 | 118,476 | 1,516,396 | SH | DFND | 01,02 | 1,299,596 | 0 | 216,800 | |
| Chatham Lodging Trust | COM | 16208T102 | 40,071 | 1,362,500 | SH | DFND | 01,02 | 1,223,000 | 0 | 139,500 | |
| CubeSmart | COM | 229663109 | 58,894 | 2,438,674 | SH | DFND | 01,02 | 2,218,574 | 0 | 220,100 | |
| DDR Corp | COM | 251591103 | 77,636 | 4,169,477 | SH | DFND | 01,02 | 3,748,477 | 0 | 421,000 | |
| Douglas Emmett Inc. | COM | 25960P109 | 40,045 | 1,343,338 | SH | DFND | 01,02 | 1,210,938 | 0 | 132,400 | |
| Dupont Fabros Technology | COM | 26613Q106 | 77,982 | 2,386,216 | SH | DFND | 01,02 | 2,159,316 | 0 | 226,900 | |
| Easterly Government Properties | COM | 27616P103 | 9,245 | 576,000 | SH | DFND | 01,02 | 515,100 | 0 | 60,900 | |
| Empire State Realty Trust Inc. | COM | 292104106 | 42,166 | 2,241,700 | SH | DFND | 01,02 | 2,019,600 | 0 | 222,100 | |
| EPR Properties | COM | 26884U109 | 10,655 | 177,500 | SH | DFND | 01,02 | 62,500 | 0 | 115,000 | |
| Equity Lifestyle Properties | COM | 29472R108 | 77,902 | 1,417,681 | SH | DFND | 01,02 | 1,235,181 | 0 | 182,500 | |
| Equity Residential | COM | 29476L107 | 328,288 | 4,216,392 | SH | DFND | 01,02 | 3,682,592 | 0 | 533,800 | |
| Extended Stay America Inc | COM | 30224P200 | 41,663 | 2,133,300 | SH | DFND | 01,02 | 1,911,100 | 0 | 222,200 | |
| Extra Space Storage Inc. | COM | 30225T102 | 81,502 | 1,206,185 | SH | DFND | 01,02 | 1,084,385 | 0 | 121,800 | |
| Federal Realty Invs Trust | COM | 313747206 | 198,849 | 1,350,785 | SH | DFND | 01,02 | 1,129,985 | 0 | 220,800 | |
| General Growth Properties | COM | 370023103 | 19,178 | 649,000 | SH | DFND | 01,02 | 490,500 | 0 | 158,500 | |
| Forest City Enterprises - Class A | COM | 345550107 | 92,589 | 3,628,104 | SH | DFND | 01,02 | 3,184,104 | 0 | 444,000 | |
| Gramercy Property Trust Inc | COM | 38489R100 | 46,858 | 1,669,325 | SH | DFND | 01,02 | 1,502,925 | 0 | 166,400 | |
| HCP Inc. | COM | 40414L109 | 182,189 | 4,216,357 | SH | DFND | 01,02 | 3,601,757 | 0 | 614,600 | |
| Health Care Reit Inc. | COM | 42217K106 | 166,888 | 2,157,287 | SH | DFND | 01,02 | 1,955,987 | 0 | 201,300 | |
| Hilton Worldwide Holdings Inc. | COM | 43300A104 | 70,893 | 2,393,400 | SH | DFND | 01,02 | 2,022,600 | 0 | 370,800 | |
| Host Hotels & Resorts | COM | 44107P104 | 129,129 | 6,398,837 | SH | DFND | 01,02 | 5,389,637 | 0 | 1,009,200 | |
| Kilroy Realty Corp. | COM | 49427F108 | 139,294 | 1,828,726 | SH | DFND | 01,02 | 1,612,926 | 0 | 215,800 | |
| Liberty Property Trust | COM | 531172104 | 69,543 | 1,947,992 | SH | DFND | 01,02 | 1,668,792 | 0 | 279,200 | |
| Macerich Company | COM | 554382101 | 63,071 | 747,912 | SH | DFND | 01,02 | 657,712 | 0 | 90,200 | |
| National Retail Properties | COM | 637417106 | 42,606 | 1,039,935 | SH | DFND | 01,02 | 943,535 | 0 | 96,400 | |
| Paramount Group Inc | COM | 69924R108 | 56,891 | 2,947,700 | SH | DFND | 01,02 | 2,491,400 | 0 | 456,300 | |
| Piedmont Office Realty Trust | COM | 720190206 | 76,548 | 4,113,272 | SH | DFND | 01,02 | 3,717,872 | 0 | 395,400 | |
| ProLogis Inc | COM | 74340W103 | 250,642 | 5,753,954 | SH | DFND | 01,02 | 4,944,754 | 0 | 809,200 | |
| Public Storage Inc. | COM | 74460D109 | 279,623 | 1,418,400 | SH | DFND | 01,02 | 1,208,600 | 0 | 209,800 | |
| Ramco Gershenson Properties | COM | 751452202 | 20,585 | 1,106,701 | SH | DFND | 01,02 | 1,024,501 | 0 | 82,200 | |
| Retail Opportunity Investments Corp. | COM | 76131N101 | 40,357 | 2,205,285 | SH | DFND | 01,02 | 1,982,585 | 0 | 222,700 | |
| Rexford Industrial Realty | COM | 76169C100 | 48,731 | 3,082,300 | SH | DFND | 01,02 | 2,797,900 | 0 | 284,400 | |
| RLJ Lodging Trust | COM | 74965L101 | 55,481 | 1,771,986 | SH | DFND | 01,02 | 1,596,386 | 0 | 175,600 | |
| Simon Property Group | COM | 828806109 | 588,960 | 3,010,425 | SH | DFND | 01,02 | 2,613,225 | 0 | 397,200 | |
| Store Capital Corp. | COM | 862121100 | 27,910 | 1,195,300 | SH | DFND | 01,02 | 1,082,100 | 0 | 113,200 | |
| Taubman Centers Inc. | COM | 876664103 | 105,474 | 1,367,483 | SH | DFND | 01,02 | 1,233,983 | 0 | 133,500 | |
| Ventas Inc. | COM | 92276F100 | 177,181 | 2,426,469 | SH | DFND | 01,02 | 2,048,369 | 0 | 378,100 | |
| Vornado Realty Trust | COM | 929042109 | 87,920 | 784,999 | SH | DFND | 01,02 | 661,899 | 0 | 123,100 | |