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
ACADIA RLTY TR COM SH BEN INT 004239109 24,144 829,421 SH   SOLE   829,421 0 0
AVALONBAY CMNTYS INC COM 053484101 152,555 954,244 SH   SOLE   954,244 0 0
CUBESMART COM 229663109 12,601 544,076 SH   SOLE   544,076 0 0
DDR CORP COM 23317H102 58,779 3,801,999 SH   SOLE   3,739,624 0 62,375
DIAMONDROCK HOSPITALITY CO COM 252784301 60,622 4,732,404 SH   SOLE   4,732,404 0 0
DOUGLAS EMMETT INC COM 25960P109 13,637 506,195 SH   SOLE   506,195 0 0
EMPIRE ST RLTY TR INC CL A 292104106 74,918 4,391,436 SH   SOLE   4,391,436 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 72,702 1,382,691 SH   SOLE   1,382,691 0 0
ESSEX PPTY TR INC COM 297178105 42,504 200,019 SH   SOLE   200,019 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 59,835 467,133 SH   SOLE   467,133 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 79,119 3,083,347 SH   SOLE   3,083,347 0 0
HOME PROPERTIES INC COM 437306103 35,820 490,353 SH   SOLE   490,353 0 0
HOST HOTELS & RESORTS INC COM 44107P104 40,757 2,055,314 SH   SOLE   2,055,314 0 0
KILROY RLTY CORP COM 49427F108 46,524 692,843 SH   SOLE   692,843 0 0
PROLOGIS INC COM 74340W103 53,532 1,442,905 SH   SOLE   1,442,905 0 0
SIMON PPTY GROUP INC NEW COM 828806109 183,590 1,061,090 SH   SOLE   1,061,090 0 0
SL GREEN RLTY CORP COM 78440X101 91,170 829,645 SH   SOLE   823,706 0 5,939
TERRENO RLTY CORP COM 88146M101 32,702 1,659,982 SH   SOLE   1,659,982 0 0
URBAN EDGE PPTYS COM 91704F104 6,972 335,360 SH   SOLE   335,360 0 0
VENTAS INC COM 92276F100 11,129 179,246 SH   SOLE   179,246 0 0