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
AGREE REALTY CORP COMM STK 008492100 50,241 715,994 SH   SOLE   59,813 0 656,181
ALEXANDRIA REAL ESTATE EQUITIES INC COMM STK 015271109 125,092 774,183 SH   SOLE   50,120 0 724,063
AMERICAN CAMPUS COMMUNITIES INC COMM STK 024835100 123,967 2,635,920 SH   SOLE   285,455 0 2,350,465
AMERICAN HOMES 4 RENT COMM STK 02665T306 382 14,583 SH   SOLE   14,583 0 0
AMERICAN TOWER CORP COMM STK 03027X100 36,395 158,364 SH   SOLE   158,364 0 0
AVALONBAY COMMUNITIES INC COMM STK 053484101 258,683 1,233,587 SH   SOLE   147,036 0 1,086,551
BOSTON PROPERTIES INC COMM STK 101121101 144,626 1,049,082 SH   SOLE   126,992 0 922,090
CROWN CASTLE INTL CORP COMM STK 22822V101 4,749 33,406 SH   SOLE   33,406 0 0
CUBESMART COMM STK 229663109 127,825 4,060,521 SH   SOLE   290,401 0 3,770,120
DIGITAL REALTY TRUST INC COMM STK 253868103 179,779 1,501,408 SH   SOLE   86,703 0 1,414,705
DOUGLAS EMMETT INC COMM STK 25960P109 3,754 85,514 SH   SOLE   85,514 0 0
DUKE REALTY CORP COMM STK 264411505 126,608 3,651,789 SH   SOLE   366,745 0 3,285,044
EQUINIX INC COMM STK 29444U700 126,700 217,063 SH   SOLE   7,219 0 209,844
EQUITY LIFESTYLE PROPERTIES INC COMM STK 29472R108 8,913 126,619 SH   SOLE   13,561 0 113,058
EQUITY RESIDENTIAL COMM STK 29476L107 175,055 2,163,314 SH   SOLE   222,406 0 1,940,908
ESSEX PROPERTY TRUST INC COMM STK 297178105 9,569 31,806 SH   SOLE   31,806 0 0
EXTRA SPACE STORAGE INC COMM STK 30225T102 3,562 33,723 SH   SOLE   0 0 33,723
FEDERAL REALTY INVESTMENT TRUST COMM STK 313747206 63,408 492,563 SH   SOLE   52,359 0 440,204
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 103,784 2,500,213 SH   SOLE   151,877 0 2,348,336
HEALTHCARE REALTY TRUST INC COMM STK 421946104 5,744 172,145 SH   SOLE   24,977 0 147,168
HEALTHCARE TRUST OF AMERICA COMM STK 42225P501 116,909 3,860,917 SH   SOLE   260,434 0 3,600,483
HEALTHPEAK PROPERTIES INC COMM STK 42250P103 6,290 182,492 SH   SOLE   57,571 0 124,921
HIGHWOODS PROPERTIES INC COMM STK 431284108 71,556 1,463,021 SH   SOLE   97,114 0 1,365,907
HUDSON PACIFIC PROPERTIES INC COMM STK 444097109 71 1,894 SH   SOLE   1,894 0 0
INVITATION HOMES INC COMM STK 46187W107 202,381 6,752,788 SH   SOLE   441,177 0 6,311,611
IRON MOUNTAIN INC COMM STK 46284V101 3,099 97,243 SH   SOLE   0 0 97,243
KILROY REALTY CORP COMM STK 49427F108 2,962 35,300 SH   SOLE   35,300 0 0
NATIONAL HEALTH INVESTORS INC COMM STK 63633D104 27,316 335,248 SH   SOLE   16,143 0 319,105
NATIONAL RETAIL PROPERTIES INC COMM STK 637417106 76,111 1,419,445 SH   SOLE   76,559 0 1,342,886
PARAMOUNT GROUP INC COMM STK 69924R108 58 4,173 SH   SOLE   4,173 0 0
PARK HOTELS & RESORTS INC COMM STK 700517105 41,219 1,593,313 SH   SOLE   70,091 0 1,523,222
PEBBLEBROOK HOTEL TRUST COMM STK 70509V100 57,183 2,132,883 SH   SOLE   141,433 0 1,991,450
PROLOGIS INC COMM STK 74340W103 139,758 1,567,847 SH   SOLE   149,807 0 1,418,040
PUBLIC STORAGE COMM STK 74460D109 206,565 969,970 SH   SOLE   132,296 0 837,674
REALTY INCOME CORP COMM STK 756109104 47,682 647,593 SH   SOLE   47,416 0 600,177
REGENCY CENTERS CORP COMM STK 758849103 109,428 1,734,470 SH   SOLE   180,832 0 1,553,638
SBA COMMUNICATIONS CORP COMM STK 78410G104 132,497 549,804 SH   SOLE   57,866 0 491,938
SIMON PROPERTY GROUP INC COMM STK 828806109 179,197 1,202,988 SH   SOLE   159,596 0 1,043,392
SIMON PROPERTY GROUP INC COMM STK 828806109 4,948 33,217 SH   OTR   0 0 33,217
SL GREEN REALTY CORP COMM STK 78440X101 69,241 753,598 SH   SOLE   30,045 0 723,553
SUNSTONE HOTEL INVESTORS INC COMM STK 867892101 54,913 3,944,876 SH   SOLE   231,904 0 3,712,972
TAUBMAN CENTERS INC COMM STK 876664103 14,591 469,329 SH   SOLE   24,290 0 445,039
VENTAS INC COMM STK 92276F100 72,793 1,260,696 SH   SOLE   208,506 0 1,052,190
VICI PROPERTIES INC COMM STK 925652109 134,498 5,264,114 SH   SOLE   374,238 0 4,889,876
VORNADO REALTY TRUST COMM STK 929042109 109,757 1,650,478 SH   SOLE   171,594 0 1,478,884
WELLTOWER INC COMM STK 95040Q104 199,716 2,442,113 SH   SOLE   186,826 0 2,255,287
WEYERHAEUSER CO COMM STK 962166104 1,233 40,824 SH   SOLE   40,824 0 0