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 263,660 1,631,759 SH   SOLE   1,427,126 0 204,633
AMERICAN TOWER CORP NEW COM 03027X100 172,867 752,185 SH   SOLE   660,974 0 91,211
BOSTON PROPERTIES INC COM 101121101 109,566 794,766 SH   SOLE   696,044 0 98,722
CAMDEN PPTY TR SH BEN INT 133131102 31,247 294,506 SH   SOLE   265,328 0 29,178
CUBESMART COM 229663109 19,256 611,682 SH   SOLE   538,834 0 72,848
DIGITAL RLTY TR INC COM 253868103 25,282 211,143 SH   SOLE   172,452 0 38,691
EMPIRE ST RLTY TR INC CL A 292104106 73,280 5,249,305 SH   SOLE   4,598,970 0 650,335
EQUINIX INC COM 29444U700 120,032 205,640 SH   SOLE   183,150 0 22,490
EQUITY COMWLTH COM SH BEN INT 294628102 59,143 1,801,493 SH   SOLE   1,566,853 0 234,640
EQUITY LIFESTYLE PPTYS INC COM 29472R108 127,158 1,806,484 SH   SOLE   1,586,366 0 220,118
EQUITY RESIDENTIAL SH BEN INT 29476L107 323,676 3,999,955 SH   SOLE   3,507,502 0 492,453
ESSEX PPTY TR INC COM 297178105 129,514 430,479 SH   SOLE   377,640 0 52,839
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 120,605 936,887 SH   SOLE   821,838 0 115,049
HEALTHCARE RLTY TR COM 421946104 119,660 3,585,852 SH   SOLE   3,084,522 0 501,330
HEALTHPEAK PPTYS INC COM 42250P103 341,784 9,915,400 SH   SOLE   8,687,818 0 1,227,582
HOST HOTELS & RESORTS INC COM 44107P104 29,221 1,575,283 SH   SOLE   1,375,758 0 199,525
INVITATION HOMES INC COM 46187W107 218,773 7,299,723 SH   SOLE   6,409,684 0 890,039
JBG SMITH PPTYS COM 46590V100 100,012 2,507,196 SH   SOLE   2,196,661 0 310,535
KILROY RLTY CORP COM 49427F108 139,219 1,659,350 SH   SOLE   1,454,366 0 204,984
PROLOGIS INC COM 74340W103 425,609 4,774,614 SH   SOLE   4,142,318 0 632,296
SIMON PPTY GROUP INC NEW COM 828806109 16,376 109,933 SH   SOLE   95,680 0 14,253
STORE CAP CORP COM 862121100 102,473 2,751,682 SH   SOLE   2,413,302 0 338,380
TERRENO RLTY CORP COM 88146M101 135,923 2,510,591 SH   SOLE   2,201,385 0 309,206
VEREIT INC COM 92339V100 142,784 15,452,866 SH   SOLE   13,544,509 0 1,908,357