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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 96,853 775,510 SH   SOLE   712,472 0 63,038
AMERICAN CAMPUS CMNTYS INC COM 024835100 24,952 646,078 SH   SOLE   584,828 0 61,250
AMERICAN TOWER CORP NEW COM 03027X100 32,887 226,275 SH   SOLE   209,685 0 16,590
BOSTON PROPERTIES INC COM 101121101 80,564 653,819 SH   SOLE   601,619 0 52,200
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 85,637 5,392,765 SH   SOLE   4,933,505 0 459,260
DIAMONDROCK HOSPITALITY CO COM 252784301 74,221 7,109,276 SH   SOLE   6,566,634 0 542,642
DIGITAL RLTY TR INC COM 253868103 83,431 791,713 SH   SOLE   702,703 0 89,010
DOUGLAS EMMETT INC COM 25960P109 85,378 2,322,571 SH   SOLE   2,143,176 0 179,395
EMPIRE ST RLTY TR INC CL A 292104106 122,831 7,315,738 SH   SOLE   6,755,757 0 559,981
EQUITY COMWLTH COM SH BEN INT 294628102 56,651 1,847,115 SH   SOLE   1,677,615 0 169,500
EQUITY LIFESTYLE PPTYS INC COM 29472R108 86,693 987,725 SH   SOLE   903,745 0 83,980
EQUITY RESIDENTIAL SH BEN INT 29476L107 145,043 2,353,825 SH   SOLE   2,142,025 0 211,800
ESSEX PPTY TR INC COM 297178105 111,792 464,482 SH   SOLE   429,016 0 35,466
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 97,728 841,682 SH   SOLE   772,888 0 68,794
GGP INC COM 36174X101 6,629 324,000 SH   SOLE   287,269 0 36,731
HCP INC COM 40414L109 69,042 2,972,091 SH   SOLE   2,749,191 0 222,900
HOST HOTELS & RESORTS INC COM 44107P104 48,411 2,597,159 SH   SOLE   2,417,259 0 179,900
INTERXION HOLDING N.V SHS N47279109 55,285 890,116 SH   SOLE   890,116 0 0
KILROY RLTY CORP COM 49427F108 114,343 1,611,377 SH   SOLE   1,482,309 0 129,068
PROLOGIS INC COM 74340W103 219,559 3,485,623 SH   SOLE   3,191,858 0 293,765
REGENCY CTRS CORP COM 758849103 90,811 1,539,690 SH   SOLE   1,413,390 0 126,300
RETAIL PPTYS AMER INC CL A 76131V202 43,320 3,715,279 SH   SOLE   3,432,379 0 282,900
SIMON PPTY GROUP INC NEW COM 828806109 282,163 1,828,074 SH   SOLE   1,684,873 0 143,201
TERRENO RLTY CORP COM 88146M101 33,854 980,978 SH   SOLE   907,416 0 73,562
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 28,651 1,049,488 SH   SOLE   969,421 0 80,067