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
ABBVIE INC COM COM 00287Y109 28,155 316,850 SH   SOLE   316,850 0 0
ABERCROMBIE & FITCH CO CL A CL A 002896207 3,255 225,403 SH   SOLE   225,403 0 0
ALEXANDRIA REAL ESTATE EQ IN COM COM 015271109 5,566 46,785 SH   SOLE   46,785 0 0
ALPHABET INC CAP STK CL C CAP STK CL C 02079K107 3,706 3,864 SH   SOLE   3,864 0 0
AMERICAN EQTY INVT LIFE HLD COM COM 025676206 4,858 167,060 SH   SOLE   167,060 0 0
AMERICAN CAMPUS CMNTYS INC COM COM 024835100 2,170 49,168 SH   SOLE   49,168 0 0
AMERICAN EAGLE OUTFITTERS NE COM COM 02553E106 4,386 306,682 SH   SOLE   306,682 0 0
AMERICAN FINL GROUP INC OHIO COM COM 025932104 1,082 10,459 SH   SOLE   10,459 0 0
APARTMENT INVT & MGMT CO CL A CL A 03748R101 3,386 77,205 SH   SOLE   77,205 0 0
APPLE HOSPITALITY REIT INC COM NEW COM NEW 03784Y200 2,362 124,900 SH   SOLE   124,900 0 0
APPLIED MATLS INC COM COM 038222105 4,221 81,032 SH   SOLE   81,032 0 0
ARES CAP CORP COM COM 04010L103 23,115 1,410,325 SH   SOLE   1,410,325 0 0
ASHFORD HOSPITALITY TR INC COM SHS SHS 044103109 2,021 302,905 SH   SOLE   302,905 0 0
AVALONBAY CMNTYS INC COM COM 053484101 9,239 51,789 SH   SOLE   51,789 0 0
BLACKROCK INC COM COM 09247X101 3,010 6,732 SH   SOLE   6,732 0 0
BOSTON PROPERTIES INC COM COM 101121101 12,628 102,768 SH   SOLE   102,768 0 0
BRANDYWINE RLTY TR SH BEN INT NEW SH BEN INT NEW 105368203 1,787 102,161 SH   SOLE   102,161 0 0
BRIXMOR PPTY GROUP INC COM COM 11120U105 4,369 232,354 SH   SOLE   232,354 0 0
BRUNSWICK CORP COM COM 117043109 9,379 167,572 SH   SOLE   167,572 0 0
CAMDEN PPTY TR SH BEN INT SH BEN INT 133131102 24,017 262,610 SH   SOLE   262,610 0 0
CAPELLA EDUCATION COMPANY COM COM 139594105 1,744 24,859 SH   SOLE   24,859 0 0
CBL & ASSOC PPTYS INC COM COM 124830100 3,274 390,165 SH   SOLE   390,165 0 0
CHART INDS INC COM PAR $0.01 COM PAR $0.01 16115Q308 4,896 124,804 SH   SOLE   124,804 0 0
CDN IMPERIAL BK COMM TORONTO COM COM 136069101 31,769 291,000 SH   SOLE   291,000 0 0
CISCO SYS INC COM COM 17275R102 26,833 797,895 SH   SOLE   797,895 0 0
COLUMBIA PPTY TR INC COM NEW COM NEW 198287203 1,850 84,970 SH   SOLE   84,970 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT SH BEN INT 22002T108 1,620 49,324 SH   SOLE   49,324 0 0
CUBESMART COM COM 229663109 31,751 1,223,069 SH   SOLE   1,223,069 0 0
DCT INDUSTRIAL TRUST INC COM NEW COM NEW 233153204 4,286 74,024 SH   SOLE   74,024 0 0
DDR CORP COM COM 23317H102 3,108 339,257 SH   SOLE   339,257 0 0
DEERE & CO COM COM 244199105 3,005 23,925 SH   SOLE   23,925 0 0
DEL FRISCOS RESTAURANT GROUP COM COM 245077102 9,792 672,975 SH   SOLE   672,975 0 0
DELEK US HLDGS INC NEW COM COM 24665A103 6,705 250,852 SH   SOLE   250,852 0 0
DIAMONDROCK HOSPITALITY CO COM COM 252784301 3,034 277,083 SH   SOLE   277,083 0 0
DIGITAL RLTY TR INC COM COM 253868103 7,830 66,172 SH   SOLE   66,172 0 0
DOUGLAS EMMETT INC COM COM 25960P109 2,028 51,434 SH   SOLE   51,434 0 0
DUKE REALTY CORP COM NEW COM NEW 264411505 3,552 123,230 SH   SOLE   123,230 0 0
ENERSYS COM COM 29275Y102 7,216 104,327 SH   SOLE   104,327 0 0
EPR PPTYS COM SH BEN INT SH BEN INT 26884U109 1,986 28,476 SH   SOLE   28,476 0 0
EQUINIX INC COM PAR $0.001 COM PAR $0.001 29444U700 1,559 3,493 SH   SOLE   3,493 0 0
EQUITY COMWLTH COM SH BEN INT SH BEN INT 294628102 4,279 140,783 SH   SOLE   140,783 0 0
EQUITY LIFESTYLE PPTYS INC COM COM 29472R108 2,074 24,373 SH   SOLE   24,373 0 0
EQUITY RESIDENTIAL SH BEN INT SH BEN INT 29476L107 13,887 210,638 SH   SOLE   210,638 0 0
ESSEX PPTY TR INC COM COM 297178105 3,712 14,614 SH   SOLE   14,614 0 0
LAUDER ESTEE COS INC CL A CL A 518439104 3,343 31,004 SH   SOLE   31,004 0 0
EXELON CORP COM COM 30161N101 23,393 621,000 SH   SOLE   621,000 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B UNIT 99/99/9999B 30224P200 2,791 139,562 SH   SOLE   139,562 0 0
EXTRA SPACE STORAGE INC COM COM 30225T102 2,825 35,346 SH   SOLE   35,346 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW SH BEN INT NEW 313747206 2,609 21,001 SH   SOLE   21,001 0 0
FIRST SOLAR INC COM COM 336433107 7,082 154,366 SH   SOLE   154,366 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM COM 31620R303 24,487 515,950 SH   SOLE   515,950 0 0
FOGO DE CHAO INC COM COM 344177100 3,860 311,330 SH   SOLE   311,330 0 0
FOREST CITY RLTY TR INC COM CL A CL A 345605109 2,033 79,715 SH   SOLE   79,715 0 0
GENERAL MTRS CO COM COM 37045V100 26,615 659,130 SH   SOLE   659,130 0 0
GGP INC COM COM 36174X101 7,945 382,511 SH   SOLE   382,511 0 0
GRAMERCY PPTY TR COM NEW COM NEW 385002308 1,391 45,983 SH   SOLE   45,983 0 0
HCP INC COM COM 40414L109 8,693 312,336 SH   SOLE   312,336 0 0
HEALTHCARE RLTY TR COM COM 421946104 1,412 43,630 SH   SOLE   43,630 0 0
HEALTHCARE TR AMER INC CL A NEW CL A NEW 42225P501 6,722 225,556 SH   SOLE   225,556 0 0
HIGHWOODS PPTYS INC COM COM 431284108 2,210 42,428 SH   SOLE   42,428 0 0
HOLLYFRONTIER CORP COM COM 436106108 30,654 852,200 SH   SOLE   852,200 0 0
HOPE BANCORP INC COM COM 43940T109 4,025 227,256 SH   SOLE   227,256 0 0
HOST HOTELS & RESORTS INC COM COM 44107P104 3,101 167,756 SH   SOLE   167,756 0 0
HUDSON PAC PPTYS INC COM COM 444097109 2,522 75,221 SH   SOLE   75,221 0 0
INTEL CORP COM COM 458140100 2,169 56,947 SH   SOLE   56,947 0 0
INVITATION HOMES INC COM COM 46187W107 608 26,847 SH   SOLE   26,847 0 0
JABIL INC COM COM 466313103 3,562 124,777 SH   SOLE   124,777 0 0
JBG SMITH PPTYS COM COM 46590V100 1,120 32,748 SH   SOLE   32,748 0 0
JPMORGAN CHASE & CO COM COM 46625H100 3,440 36,020 SH   SOLE   36,020 0 0
KAISER ALUMINUM CORP COM PAR $0.01 COM PAR $0.01 483007704 2,406 23,323 SH   SOLE   23,323 0 0
KILROY RLTY CORP COM COM 49427F108 1,925 27,065 SH   SOLE   27,065 0 0
KIMCO RLTY CORP COM COM 49446R109 5,023 256,939 SH   SOLE   256,939 0 0
KKR & CO L P DEL COM UNITS COM UNITS 48248M102 13,672 672,498 SH   SOLE   672,498 0 0
L BRANDS INC COM COM 501797104 17,853 429,050 SH   SOLE   429,050 0 0
LA QUINTA HLDGS INC COM COM 50420D108 1,979 113,089 SH   SOLE   113,089 0 0
LEXINGTON REALTY TRUST COM COM 529043101 1,943 190,154 SH   SOLE   190,154 0 0
LHC GROUP INC COM COM 50187A107 7,635 107,658 SH   SOLE   107,658 0 0
LIBERTY PPTY TR SH BEN INT SH BEN INT 531172104 3,179 77,449 SH   SOLE   77,449 0 0
LIFE STORAGE INC COM COM 53223X107 24,593 300,600 SH   SOLE   300,600 0 0
LUXFER HLDGS PLC SPONSORED ADR SPONSORED ADR 550678106 7,628 612,715 SH   SOLE   612,715 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - SHS - A - N53745100 39,885 402,683 SH   SOLE   402,683 0 0
MACERICH CO COM COM 554382101 5,180 94,233 SH   SOLE   94,233 0 0
MACK CALI RLTY CORP COM COM 554489104 1,607 67,762 SH   SOLE   67,762 0 0
MARSH & MCLENNAN COS INC COM COM 571748102 3,572 42,623 SH   SOLE   42,623 0 0
MASTERCARD INCORPORATED CL A CL A 57636Q104 2,940 20,821 SH   SOLE   20,821 0 0
MEDICAL PPTYS TRUST INC COM COM 58463J304 1,472 112,138 SH   SOLE   112,138 0 0
MERCK & CO INC COM COM 58933Y105 2,907 45,395 SH   SOLE   45,395 0 0
MICROSOFT CORP COM COM 594918104 3,362 45,139 SH   SOLE   45,139 0 0
MID AMER APT CMNTYS INC COM COM 59522J103 5,354 50,091 SH   SOLE   50,091 0 0
MRC GLOBAL INC COM COM 55345K103 4,166 238,172 SH   SOLE   238,172 0 0
NATIONAL RETAIL PPTYS INC COM COM 637417106 4,999 120,001 SH   SOLE   120,001 0 0
NEW YORK CMNTY BANCORP INC COM COM 649445103 23,298 1,807,432 SH   SOLE   1,807,432 0 0
OMEGA HEALTHCARE INVS INC COM COM 681936100 2,776 86,985 SH   SOLE   86,985 0 0
PARAMOUNT GROUP INC COM COM 69924R108 1,591 99,456 SH   SOLE   99,456 0 0
PBF ENERGY INC CL A CL A 69318G106 15,410 558,120 SH   SOLE   558,120 0 0
PEPSICO INC COM COM 713448108 3,312 29,723 SH   SOLE   29,723 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A CL A 720190206 2,341 116,143 SH   SOLE   116,143 0 0
PLDT INC SPONSORED ADR SPONSORED ADR 69344D408 10,500 328,968 SH   SOLE   328,968 0 0
POTASH CORP SASK INC COM COM 73755L107 26,678 1,386,604 SH   SOLE   1,386,604 0 0
PPG INDS INC COM COM 693506107 2,974 27,371 SH   SOLE   27,371 0 0
PRICELINE GRP INC COM NEW COM NEW 741503403 3,103 1,695 SH   SOLE   1,695 0 0
PROCTER AND GAMBLE CO COM COM 742718109 2,663 29,265 SH   SOLE   29,265 0 0
PROLOGIS INC COM COM 74340W103 13,385 210,909 SH   SOLE   210,909 0 0
PRUDENTIAL FINL INC COM COM 744320102 2,094 19,699 SH   SOLE   19,699 0 0
PS BUSINESS PKS INC CALIF COM COM 69360J107 1,523 11,410 SH   SOLE   11,410 0 0
PUBLIC SVC ENTERPRISE GROUP COM COM 744573106 24,123 521,576 SH   SOLE   521,576 0 0
PUBLIC STORAGE COM COM 74460D109 11,850 55,375 SH   SOLE   55,375 0 0
QUALCOMM INC COM COM 747525103 20,914 403,436 SH   SOLE   403,436 0 0
QUALITY CARE PPTYS INC COM COM 747545101 1,019 65,779 SH   SOLE   65,779 0 0
QUINTILES IMS HOLDINGS INC COM COM 74876Y101 1,784 18,760 SH   SOLE   18,760 0 0
REALTY INCOME CORP COM COM 756109104 4,807 84,039 SH   SOLE   84,039 0 0
REDWOOD TR INC COM COM 758075402 11,686 717,334 SH   SOLE   717,334 0 0
REGENCY CTRS CORP COM COM 758849103 4,766 76,807 SH   SOLE   76,807 0 0
RENAISSANCERE HOLDINGS LTD COM COM G7496G103 3,227 23,876 SH   SOLE   23,876 0 0
RETAIL PPTYS AMER INC CL A CL A 76131V202 15,016 1,143,529 SH   SOLE   1,143,529 0 0
RLJ LODGING TR COM COM 74965L101 4,085 185,680 SH   SOLE   185,680 0 0
SEAGATE TECHNOLOGY PLC SHS SHS G7945M107 9,410 283,682 SH   SOLE   283,682 0 0
SELECT COMFORT CORP COM COM 81616X103 4,861 156,542 SH   SOLE   156,542 0 0
SENIOR HSG PPTYS TR SH BEN INT SH BEN INT 81721M109 3,133 160,227 SH   SOLE   160,227 0 0
SIMON PPTY GROUP INC NEW COM COM 828806109 25,186 156,422 SH   SOLE   156,422 0 0
SK TELECOM LTD SPONSORED ADR SPONSORED ADR 78440P108 21,934 892,000 SH   SOLE   892,000 0 0
SL GREEN RLTY CORP COM COM 78440X101 4,330 42,746 SH   SOLE   42,746 0 0
SPIRIT AIRLS INC COM COM 848577102 7,263 217,381 SH   SOLE   217,381 0 0
STORE CAP CORP COM COM 862121100 1,878 75,506 SH   SOLE   75,506 0 0
SUN CMNTYS INC COM COM 866674104 1,705 19,905 SH   SOLE   19,905 0 0
SUN LIFE FINL INC COM COM 866796105 35,308 710,562 SH   SOLE   710,562 0 0
SYNAPTICS INC COM COM 87157D109 3,221 82,216 SH   SOLE   82,216 0 0
SYSCO CORP COM COM 871829107 2,953 54,730 SH   SOLE   54,730 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR SPONSORED ADR 874039100 26,757 712,564 SH   SOLE   712,564 0 0
TANGER FACTORY OUTLET CTRS I COM COM 875465106 1,290 52,814 SH   SOLE   52,814 0 0
TAUBMAN CTRS INC COM COM 876664103 2,279 45,859 SH   SOLE   45,859 0 0
TECH DATA CORP COM COM 878237106 4,095 46,091 SH   SOLE   46,091 0 0
TELEFONICA BRASIL SA SPONSORED ADR SPONSORED ADR 87936R106 26,510 1,673,574 SH   SOLE   1,673,574 0 0
TELUS CORP COM COM 87971M103 16,796 374,251 SH   SOLE   374,251 0 0
TENNECO INC COM COM 880349105 3,286 54,169 SH   SOLE   54,169 0 0
TERADATA CORP DEL COM COM 88076W103 9,789 289,689 SH   SOLE   289,689 0 0
TERADYNE INC COM COM 880770102 5,740 153,938 SH   SOLE   153,938 0 0
THERMON GROUP HLDGS INC COM COM 88362T103 5,010 278,502 SH   SOLE   278,502 0 0
TRINITY INDS INC COM COM 896522109 8,437 264,476 SH   SOLE   264,476 0 0
TRITON INTL LTD CL A CL A G9078F107 14,957 449,439 SH   SOLE   449,439 0 0
TWO HBRS INVT CORP COM COM 90187B101 22,249 2,207,262 SH   SOLE   2,207,262 0 0
UBIQUITI NETWORKS INC COM COM 90347A100 8,580 153,168 SH   SOLE   153,168 0 0
UDR INC COM COM 902653104 3,459 90,973 SH   SOLE   90,973 0 0
U S SILICA HLDGS INC COM COM 90346E103 3,231 103,992 SH   SOLE   103,992 0 0
VALERO ENERGY CORP NEW COM COM 91913Y100 26,558 345,221 SH   SOLE   345,221 0 0
VALIDUS HOLDINGS LTD COM SHS SHS G9319H102 1,223 24,850 SH   SOLE   24,850 0 0
VAREX IMAGING CORP COM COM 92214X106 4,148 122,563 SH   SOLE   122,563 0 0
VENTAS INC COM COM 92276F100 11,569 177,624 SH   SOLE   177,624 0 0
VERIZON COMMUNICATIONS INC COM COM 92343V104 24,929 503,705 SH   SOLE   503,705 0 0
VISA INC COM CL A CL A 92826C839 1,799 17,095 SH   SOLE   17,095 0 0
VORNADO RLTY TR SH BEN INT SH BEN INT 929042109 7,864 102,294 SH   SOLE   102,294 0 0
WASHINGTON PRIME GROUP NEW COM COM 93964W108 4,148 497,950 SH   SOLE   497,950 0 0
WEINGARTEN RLTY INVS SH BEN INT SH BEN INT 948741103 2,186 68,868 SH   SOLE   68,868 0 0
WELLTOWER INC COM COM 95040Q104 10,681 151,986 SH   SOLE   151,986 0 0
WOLVERINE WORLD WIDE INC COM COM 978097103 2,651 91,882 SH   SOLE   91,882 0 0
W P CAREY INC COM COM 92936U109 3,137 46,545 SH   SOLE   46,545 0 0
ALLEGION PUB LTD CO ORD SHS SHS G0176J109 3,018 38,200 SH   SOLE   38,200 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN UNIT LTD PARTN G16249107 15,295 526,509 SH   SOLE   526,509 0 0