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 4,268 164,652 SH   SOLE 164,652 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 30,944 451,733 SH   SOLE 451,733 0 0
AVALONBAY CMNTYS INC COM 053484101 71,485 538,855 SH   SOLE 538,855 0 0
BIOMED REALTY TRUST INC COM 09063H107 3,363 160,670 SH   SOLE 160,670 0 0
BRE PROPERTIES INC CL A 05564E106 3,546 70,942 SH   SOLE 70,942 0 0
CUBESMART COM 229663109 12,899 824,216 SH   SOLE 824,216 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 39,128 1,014,084 SH   SOLE 1,014,084 0 0
EQUITY ONE COM 294752100 23,737 1,017,426 SH   SOLE 1,017,426 0 0
ESSEX PPTY TR INC COM 297178105 11,735 74,677 SH   SOLE 74,677 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 13,193 122,440 SH   SOLE 122,440 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 47,540 2,315,652 SH   SOLE 2,315,652 0 0
HOME PROPERTIES INC COM 437306103 38,505 633,620 SH   SOLE 633,620 0 0
HOST HOTELS & RESORTS INC COM 44107P104 63,300 3,558,197 SH   SOLE 3,558,197 0 0
KILROY RLTY CORP COM 49427F108 74,710 1,412,026 SH   SOLE 1,403,806 0 8,220
PROLOGIS INC COM 74340W103 71,368 1,770,923 SH   SOLE 1,757,283 0 13,640
PUBLIC STORAGE COM 74460D109 11,294 74,400 SH   SOLE 74,400 0 0
SIMON PPTY GROUP INC NEW COM 828806109 124,002 745,025 SH   SOLE 745,025 0 0
SL GREEN RLTY CORP COM 78440X101 64,760 744,543 SH   SOLE 744,543 0 0
TAUBMAN CTRS INC COM 876664103 20,228 251,033 SH   SOLE 251,033 0 0