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
ABERCROMBIE & FITCH CO CL A CL A 002896207 3,830 219,760 SH   SOLE   219,760 0 0
ALEXANDRIA REAL ESTATE EQ IN COM COM 015271109 5,739 43,942 SH   SOLE   33,108 0 10,834
ALPHABET INC CAP STK CL C CAP STK CL C 02079K107 4,136 3,953 SH   SOLE   3,953 0 0
AMERICAN EQTY INVT LIFE HLD COM COM 025676206 5,531 179,990 SH   SOLE   179,990 0 0
AMERICAN CAMPUS CMNTYS INC COM COM 024835100 1,675 40,831 SH   SOLE   40,831 0 0
AMERICAN EAGLE OUTFITTERS NE COM COM 02553E106 4,822 256,503 SH   SOLE   256,503 0 0
APARTMENT INVT & MGMT CO CL A CL A 03748R101 2,798 64,017 SH   SOLE   64,017 0 0
APPLE HOSPITALITY REIT INC COM NEW COM NEW 03784Y200 2,043 104,171 SH   SOLE   104,171 0 0
APPLIED MATLS INC COM COM 038222105 4,237 82,888 SH   SOLE   82,888 0 0
ARES CAP CORP COM COM 04010L103 23,852 1,517,325 SH   SOLE   1,517,325 0 0
ASHFORD HOSPITALITY TR INC COM SHS SHS 044103109 1,697 252,028 SH   SOLE   252,028 0 0
AVALONBAY CMNTYS INC COM COM 053484101 10,103 56,636 SH   SOLE   44,555 0 12,081
BLACKROCK INC COM COM 09247X101 3,537 6,886 SH   SOLE   6,886 0 0
BOSTON PROPERTIES INC COM COM 101121101 14,027 107,865 SH   SOLE   87,988 0 19,877
BRANDYWINE RLTY TR SH BEN INT NEW SH BEN INT NEW 105368203 1,549 85,154 SH   SOLE   85,154 0 0
BRIXMOR PPTY GROUP INC COM COM 11120U105 6,307 337,999 SH   SOLE   262,941 0 75,058
BRUNSWICK CORP COM COM 117043109 11,379 206,070 SH   SOLE   206,070 0 0
CAMDEN PPTY TR SH BEN INT SH BEN INT 133131102 2,967 32,236 SH   SOLE   32,236 0 0
CAPELLA EDUCATION COMPANY COM COM 139594105 2,098 27,107 SH   SOLE   27,107 0 0
CBL & ASSOC PPTYS INC COM COM 124830100 1,856 327,955 SH   SOLE   327,955 0 0
CHART INDS INC COM PAR $0.01 COM PAR $0.01 16115Q308 4,075 86,956 SH   SOLE   86,956 0 0
CDN IMPERIAL BK COMM TORONTO COM COM 136069101 32,215 262,900 SH   SOLE   262,900 0 0
CISCO SYS INC COM COM 17275R102 28,183 735,848 SH   SOLE   735,848 0 0
COLUMBIA PPTY TR INC COM NEW COM NEW 198287203 1,613 70,300 SH   SOLE   70,300 0 0
CORPORATE OFFICE PPTYS TR SH BEN IN TR SH BEN IN 22002T108 4,600 157,486 SH   SOLE   105,810 0 51,676
CUBESMART COM COM 229663109 30,687 1,061,037 SH   SOLE   1,061,037 0 0
DCT INDUSTRIAL TRUST INC COM NEW COM NEW 233153204 7,259 123,496 SH   SOLE   92,921 0 30,575
DDR CORP COM COM 23317H102 2,565 286,290 SH   SOLE   286,290 0 0
DEERE & CO COM COM 244199105 3,830 24,473 SH   SOLE   24,473 0 0
DEL FRISCOS RESTAURANT GROUP COM COM 245077102 11,930 782,276 SH   SOLE   782,276 0 0
DELEK US HLDGS INC NEW COM COM 24665A103 7,468 213,730 SH   SOLE   213,730 0 0
DIAMONDROCK HOSPITALITY CO COM COM 252784301 3,583 317,377 SH   SOLE   317,377 0 0
DIGITAL RLTY TR INC COM COM 253868103 7,144 62,719 SH   SOLE   55,149 0 7,570
DOUGLAS EMMETT INC COM COM 25960P109 1,748 42,568 SH   SOLE   42,568 0 0
DUKE REALTY CORP COM NEW COM NEW 264411505 2,832 104,039 SH   SOLE   104,039 0 0
ENERSYS COM COM 29275Y102 8,275 118,848 SH   SOLE   118,848 0 0
EPR PPTYS COM SH BEN INT SH BEN INT 26884U109 1,553 23,724 SH   SOLE   23,724 0 0
EQUINIX INC COM PAR $0.001 COM PAR $0.001 29444U700 2,116 4,669 SH   SOLE   3,537 0 1,132
EQUITY COMWLTH COM SH BEN INT SH BEN INT 294628102 4,348 142,491 SH   SOLE   142,491 0 0
EQUITY LIFESTYLE PPTYS INC COM COM 29472R108 1,796 20,168 SH   SOLE   20,168 0 0
EQUITY RESIDENTIAL SH BEN INT SH BEN INT 29476L107 13,394 210,040 SH   SOLE   178,258 0 31,782
ESSEX PPTY TR INC COM COM 297178105 2,924 12,114 SH   SOLE   12,114 0 0
LAUDER ESTEE COS INC CL A CL A 518439104 4,035 31,714 SH   SOLE   31,714 0 0
EXTENDED STAY AMER INC UNIT 99/99/9 UNIT 99/99/9 30224P200 2,205 116,057 SH   SOLE   116,057 0 0
EXTRA SPACE STORAGE INC COM COM 30225T102 2,569 29,380 SH   SOLE   29,380 0 0
EXXON MOBIL CORP COM COM 30231G102 24,574 293,800 SH   SOLE   293,800 0 0
FEDERAL REALTY INVT TR SH BEN INT N TR SH BEN INT N 313747206 2,303 17,342 SH   SOLE   17,342 0 0
FIRST SOLAR INC COM COM 336433107 9,515 140,922 SH   SOLE   140,922 0 0
FOGO DE CHAO INC COM COM 344177100 4,338 373,950 SH   SOLE   373,950 0 0
FOREST CITY RLTY TR INC COM CL A CL A 345605109 1,583 65,702 SH   SOLE   65,702 0 0
GGP INC COM COM 36174X101 7,813 334,021 SH   SOLE   320,472 0 13,549
GNC HLDGS INC COM CL A CL A 36191G107 2,297 622,500 SH   SOLE   622,500 0 0
GRAMERCY PPTY TR COM NEW COM NEW 385002308 1,031 38,667 SH   SOLE   38,667 0 0
HCP INC COM COM 40414L109 11,308 433,571 SH   SOLE   353,014 0 80,557
HEALTHCARE RLTY TR COM COM 421946104 1,167 36,318 SH   SOLE   36,318 0 0
HEALTHCARE TR AMER INC CL A NEW CL A NEW 42225P501 8,182 272,370 SH   SOLE   218,099 0 54,271
HIGHWOODS PPTYS INC COM COM 431284108 1,791 35,183 SH   SOLE   35,183 0 0
HOPE BANCORP INC COM COM 43940T109 4,455 244,121 SH   SOLE   244,121 0 0
HOST HOTELS & RESORTS INC COM COM 44107P104 2,614 131,661 SH   SOLE   131,661 0 0
HUDSON PAC PPTYS INC COM COM 444097109 427 12,460 SH   SOLE   0 0 12,460
INTEL CORP COM COM 458140100 2,689 58,251 SH   SOLE   58,251 0 0
INVITATION HOMES INC COM COM 46187W107 1,335 56,647 SH   SOLE   31,607 0 25,040
IQVIA HLDGS INC COM COM 46266C105 1,879 19,190 SH   SOLE   19,190 0 0
JABIL INC COM COM 466313103 3,595 136,951 SH   SOLE   136,951 0 0
JBG SMITH PPTYS COM COM 46590V100 947 27,247 SH   SOLE   27,247 0 0
JPMORGAN CHASE & CO COM COM 46625H100 3,940 36,845 SH   SOLE   36,845 0 0
KAISER ALUMINUM CORP COM PAR $0.01 COM PAR $0.01 483007704 2,873 26,884 SH   SOLE   26,884 0 0
KILROY RLTY CORP COM COM 49427F108 1,672 22,401 SH   SOLE   22,401 0 0
KIMCO RLTY CORP COM COM 49446R109 3,887 214,207 SH   SOLE   214,207 0 0
KKR & CO L P DEL COM UNITS COM UNITS 48248M102 13,754 653,098 SH   SOLE   653,098 0 0
L BRANDS INC COM COM 501797104 25,891 429,950 SH   SOLE   429,950 0 0
LA QUINTA HLDGS INC COM COM 50420D108 1,712 92,731 SH   SOLE   92,731 0 0
LASALLE HOTEL PPTYS COM SH BEN INT SH BEN INT 517942108 1,343 47,833 SH   SOLE   15,883 0 31,950
LEXINGTON REALTY TRUST COM COM 529043101 1,525 158,130 SH   SOLE   158,130 0 0
LHC GROUP INC COM COM 50187A107 9,678 158,004 SH   SOLE   158,004 0 0
LIBERTY PPTY TR SH BEN INT SH BEN INT 531172104 2,767 64,329 SH   SOLE   64,329 0 0
LYONDELLBASELL INDUSTRIES N SHS - A SHS-A N53745100 35,920 325,597 SH   SOLE   325,597 0 0
MACERICH CO COM COM 554382101 5,148 78,378 SH   SOLE   78,378 0 0
MACK CALI RLTY CORP COM COM 554489104 1,224 56,771 SH   SOLE   56,771 0 0
MARSH & MCLENNAN COS INC COM COM 571748102 3,549 43,599 SH   SOLE   43,599 0 0
MASTERCARD INCORPORATED CL A CL A 57636Q104 3,224 21,298 SH   SOLE   21,298 0 0
MEDICAL PPTYS TRUST INC COM COM 58463J304 1,295 93,968 SH   SOLE   93,968 0 0
MERCK & CO INC COM COM 58933Y105 27,186 483,135 SH   SOLE   483,135 0 0
MICROSOFT CORP COM COM 594918104 3,950 46,173 SH   SOLE   46,173 0 0
MID AMER APT CMNTYS INC COM COM 59522J103 5,922 58,900 SH   SOLE   43,457 0 15,443
MRC GLOBAL INC COM COM 55345K103 6,435 380,343 SH   SOLE   380,343 0 0
NATIONAL RETAIL PPTYS INC COM COM 637417106 6,160 142,796 SH   SOLE   105,361 0 37,435
NEW YORK CMNTY BANCORP INC COM COM 649445103 23,798 1,827,832 SH   SOLE   1,827,832 0 0
NIKE INC CL B CL B 654106103 4,022 64,300 SH   SOLE   64,300 0 0
OMEGA HEALTHCARE INVS INC COM COM 681936100 1,999 72,584 SH   SOLE   72,584 0 0
OMNICOM GROUP INC COM COM 681919106 13,328 183,000 SH   SOLE   183,000 0 0
PARAMOUNT GROUP INC COM COM 69924R108 1,319 83,148 SH   SOLE   83,148 0 0
PBF ENERGY INC CL A CL A 69318G106 14,278 402,770 SH   SOLE   402,770 0 0
PEPSICO INC COM COM 713448108 3,646 30,404 SH   SOLE   30,404 0 0
PIEDMONT OFFICE REALTY TR IN COM CL TR IN COM CL 720190206 3,487 177,750 SH   SOLE   139,827 0 37,923
PLDT INC SPONSORED ADR SPONSORED ADR 69344D408 13,544 450,268 SH   SOLE   450,268 0 0
POTASH CORP SASK INC COM COM 73755L107 26,669 1,291,454 SH   SOLE   1,291,454 0 0
PPG INDS INC COM COM 693506107 3,271 27,998 SH   SOLE   27,998 0 0
PRICELINE GRP INC COM NEW COM NEW 741503403 3,545 2,040 SH   SOLE   2,040 0 0
PROCTER AND GAMBLE CO COM COM 742718109 2,750 29,935 SH   SOLE   29,935 0 0
PROLOGIS INC COM COM 74340W103 12,017 186,281 SH   SOLE   160,481 0 25,800
PRUDENTIAL FINL INC COM COM 744320102 2,809 24,430 SH   SOLE   24,430 0 0
PS BUSINESS PKS INC CALIF COM COM 69360J107 1,192 9,521 SH   SOLE   9,521 0 0
PUBLIC SVC ENTERPRISE GROUP COM COM 744573106 23,906 464,176 SH   SOLE   464,176 0 0
PUBLIC STORAGE COM COM 74460D109 14,090 67,416 SH   SOLE   55,687 0 11,729
QUALITY CARE PPTYS INC COM COM 747545101 745 53,977 SH   SOLE   53,977 0 0
REALTY INCOME CORP COM COM 756109104 3,991 69,987 SH   SOLE   69,987 0 0
REDWOOD TR INC COM COM 758075402 13,388 903,384 SH   SOLE   903,384 0 0
REGENCY CTRS CORP COM COM 758849103 4,607 66,595 SH   SOLE   50,211 0 16,384
RENAISSANCERE HOLDINGS LTD COM COM G7496G103 2,386 18,997 SH   SOLE   18,997 0 0
RETAIL PPTYS AMER INC CL A CL A 76131V202 26,266 1,954,276 SH   SOLE   1,954,276 0 0
RLJ LODGING TR COM COM 74965L101 3,376 153,669 SH   SOLE   153,669 0 0
SEAGATE TECHNOLOGY PLC SHS SHS G7945M107 13,767 329,032 SH   SOLE   329,032 0 0
SENIOR HSG PPTYS TR SH BEN INT SH BEN INT 81721M109 2,570 134,199 SH   SOLE   134,199 0 0
SIMON PPTY GROUP INC NEW COM COM 828806109 52,043 303,032 SH   SOLE   285,123 0 17,909
SK TELECOM LTD SPONSORED ADR SPONSORED ADR 78440P108 31,191 1,117,550 SH   SOLE   1,117,550 0 0
SL GREEN RLTY CORP COM COM 78440X101 3,567 35,343 SH   SOLE   35,343 0 0
SLEEP NUMBER CORP COM COM 83125X103 4,793 127,509 SH   SOLE   127,509 0 0
SPIRIT AIRLS INC COM COM 848577102 10,009 223,172 SH   SOLE   223,172 0 0
SUN CMNTYS INC COM COM 866674104 1,534 16,540 SH   SOLE   16,540 0 0
SUN LIFE FINL INC COM COM 866796105 31,468 606,556 SH   SOLE   606,556 0 0
SYNAPTICS INC COM COM 87157D109 3,780 94,642 SH   SOLE   94,642 0 0
SYSCO CORP COM COM 871829107 3,400 55,984 SH   SOLE   55,984 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSO SPONSORED ADR 874039100 27,744 699,726 SH   SOLE   699,726 0 0
TANGER FACTORY OUTLET CTRS I COM COM 875465106 2,388 90,073 SH   SOLE   44,326 0 45,747
TAPESTRY INC COM COM 876030107 26,071 589,450 SH   SOLE   589,450 0 0
TAUBMAN CTRS INC COM COM 876664103 2,498 38,195 SH   SOLE   38,195 0 0
TECH DATA CORP COM COM 878237106 4,858 49,591 SH   SOLE   49,591 0 0
TELEFONICA BRASIL SA SPONSORED ADR SPONSORED ADR 87936R106 24,338 1,641,074 SH   SOLE   1,641,074 0 0
TENNECO INC COM COM 880349105 3,633 62,057 SH   SOLE   62,057 0 0
TERADATA CORP DEL COM COM 88076W103 5,509 143,240 SH   SOLE   143,240 0 0
TERADYNE INC COM COM 880770102 5,340 127,527 SH   SOLE   127,527 0 0
THERMON GROUP HLDGS INC COM COM 88362T103 11,803 498,651 SH   SOLE   498,651 0 0
TRINITY INDS INC COM COM 896522109 11,919 318,180 SH   SOLE   318,180 0 0
TRITON INTL LTD CL A CL A G9078F107 12,993 346,939 SH   SOLE   346,939 0 0
TWO HBRS INVT CORP COM NEW COM 90187B408 24,733 1,521,056 SH   SOLE   1,521,056 0 0
UBIQUITI NETWORKS INC COM COM 90347A100 7,867 110,768 SH   SOLE   110,768 0 0
UDR INC COM COM 902653104 2,908 75,478 SH   SOLE   75,478 0 0
U S SILICA HLDGS INC COM COM 90346E103 5,429 166,753 SH   SOLE   166,753 0 0
VALERO ENERGY CORP NEW COM COM 91913Y100 27,285 296,871 SH   SOLE   296,871 0 0
VALIDUS HOLDINGS LTD COM SHS SHS G9319H102 4,561 97,200 SH   SOLE   97,200 0 0
VAREX IMAGING CORP COM COM 92214X106 4,923 122,563 SH   SOLE   122,563 0 0
VENTAS INC COM COM 92276F100 7,759 129,294 SH   SOLE   129,294 0 0
VEREIT INC COM COM 92339V100 2,988 383,534 SH   SOLE   225,008 0 158,526
VERIZON COMMUNICATIONS INC COM COM 92343V104 31,406 593,355 SH   SOLE   593,355 0 0
VISA INC COM CL A CL A 92826C839 1,994 17,487 SH   SOLE   17,487 0 0
VORNADO RLTY TR SH BEN INT SH BEN INT 929042109 6,253 79,991 SH   SOLE   79,991 0 0
WASHINGTON PRIME GROUP NEW COM COM 93964W108 3,017 423,782 SH   SOLE   423,782 0 0
WEINGARTEN RLTY INVS SH BEN INT SH BEN INT 948741103 1,890 57,501 SH   SOLE   57,501 0 0
WELLTOWER INC COM COM 95040Q104 8,088 126,828 SH   SOLE   126,828 0 0
WOLVERINE WORLD WIDE INC COM COM 978097103 2,407 75,517 SH   SOLE   75,517 0 0
W P CAREY INC COM COM 92936U109 2,675 38,829 SH   SOLE   38,829 0 0
ALLEGION PUB LTD CO ORD SHS SHS G0176J109 3,111 39,100 SH   SOLE   39,100 0 0
BROOKFIELD PPTY PARTNERS L P UNIT L UNIT L G16249107 12,247 439,706 SH   SOLE   439,706 0 0
LUXFER HOLDINGS PLC SHS SHS G5698W116 10,550 667,731 SH   SOLE   667,731 0 0