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 77,018 1,144,235 SH   SOLE   96,687 0 1,047,548
ALEXANDRIA REAL ESTATE EQUITIES INC COMM STK 015271109 10,916 66,441 SH   SOLE   15,417 0 51,024
AMERICAN CAMPUS COMMUNITIES INC COMM STK 024835100 52,044 1,205,569 SH   SOLE   167,383 0 1,038,186
AMERICAN HOMES 4 RENT COMM STK 02665T306 837 25,109 SH   SOLE   25,109 0 0
AMERICAN TOWER CORP COMM STK 03027X100 44,030 184,179 SH   SOLE   184,179 0 0
APARTMENT INCOME REIT CORP COMM STK 03750L109 89,619 2,095,866 SH   SOLE   128,877 0 1,966,989
APARTMENT INCOME REIT CORP COMM STK 03750L109 1,310 30,626 SH   OTR   0 0 30,626
AVALONBAY COMMUNITIES INC COMM STK 053484101 151,435 820,744 SH   SOLE   111,547 0 709,197
CAMDEN PROPERTY TRUST COMM STK 133131102 87,171 793,113 SH   SOLE   51,672 0 741,441
CARETRUST REIT INC COMM STK 14174T107 44 1,871 SH   SOLE   1,871 0 0
COLUMBIA PROPERTY TRUST INC COMM STK 198287203 17,590 1,028,657 SH   SOLE   54,847 0 973,810
CORPORATE OFFICE PROPERTIES TRUST COMM STK 22002T108 46,664 1,772,279 SH   SOLE   132,297 0 1,639,982
COUSINS PROPERTIES INC COMM STK 222795502 51,949 1,469,558 SH   SOLE   86,523 0 1,383,035
CROWN CASTLE INTL CORP COMM STK 22822V101 14,791 85,931 SH   SOLE   85,931 0 0
CUBESMART COMM STK 229663109 62,136 1,642,507 SH   SOLE   132,197 0 1,510,310
DIAMONDROCK HOSPITALITY CO COMM STK 252784301 283 27,485 SH   SOLE   27,485 0 0
DIGITAL REALTY TRUST INC COMM STK 253868103 171,185 1,215,454 SH   SOLE   123,847 0 1,091,607
DOUGLAS EMMETT INC COMM STK 25960P109 1,590 50,630 SH   SOLE   50,630 0 0
DUKE REALTY CORP COMM STK 264411505 65,196 1,554,869 SH   SOLE   215,007 0 1,339,862
EQUINIX INC COMM STK 29444U700 225,421 331,702 SH   SOLE   32,393 0 299,309
EQUITY LIFESTYLE PROPERTIES INC COMM STK 29472R108 177,748 2,793,023 SH   SOLE   269,405 0 2,523,618
EQUITY LIFESTYLE PROPERTIES INC COMM STK 29472R108 1,307 20,536 SH   OTR   0 0 20,536
EQUITY RESIDENTIAL COMM STK 29476L107 6,383 89,104 SH   SOLE   89,104 0 0
ESSEX PROPERTY TRUST INC COMM STK 297178105 6,417 23,605 SH   SOLE   23,605 0 0
FEDERAL REALTY INVESTMENT TRUST COMM STK 313747206 1,569 15,464 SH   SOLE   15,464 0 0
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 116,683 2,548,215 SH   SOLE   170,446 0 2,377,769
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 1,195 26,093 SH   OTR   0 0 26,093
HEALTHCARE TRUST OF AMERICA COMM STK 42225P501 89,984 3,262,660 SH   SOLE   427,586 0 2,835,074
HEALTHPEAK PROPERTIES INC COMM STK 42250P103 8,814 277,709 SH   SOLE   65,900 0 211,809
INVITATION HOMES INC COMM STK 46187W107 246,979 7,720,518 SH   SOLE   674,187 0 7,046,331
INVITATION HOMES INC COMM STK 46187W107 1,906 59,581 SH   OTR   0 0 59,581
KILROY REALTY CORP COMM STK 49427F108 2,317 35,300 SH   SOLE   35,300 0 0
MGM GROWTH PROPERTIES LLC COMM STK 55303A105 36,184 1,109,263 SH   SOLE   75,330 0 1,033,933
OUTFRONT MEDIA INC COMM STK 69007J106 23,744 1,087,655 SH   SOLE   127,912 0 959,743
PROLOGIS INC COMM STK 74340W103 144,022 1,358,699 SH   SOLE   151,478 0 1,207,221
PUBLIC STORAGE COMM STK 74460D109 166,896 676,349 SH   SOLE   116,042 0 560,307
REALTY INCOME CORP COMM STK 756109104 70,982 1,117,828 SH   SOLE   96,868 0 1,020,960
REGENCY CENTERS CORP COMM STK 758849103 54,357 958,503 SH   SOLE   84,092 0 874,411
RETAIL PROPERTIES OF AMERICA COMM STK 76131V202 67,056 6,398,513 SH   SOLE   478,074 0 5,920,439
RETAIL PROPERTIES OF AMERICA COMM STK 76131V202 1,021 97,466 SH   OTR   0 0 97,466
REXFORD INDUSTRIAL REALTY INC COMM STK 76169C100 29,258 580,516 SH   SOLE   70,884 0 509,632
SABRA HEALTHCARE REIT INC COMM STK 78573L106 6,807 392,096 SH   SOLE   105,589 0 286,507
SBA COMMUNICATIONS CORP COMM STK 78410G104 135,512 488,244 SH   SOLE   56,640 0 431,604
SBA COMMUNICATIONS CORP COMM STK 78410G104 1,702 6,134 SH   OTR   0 0 6,134
SIMON PROPERTY GROUP INC COMM STK 828806109 50,680 445,464 SH   SOLE   63,175 0 382,289
SUNSTONE HOTEL INVESTORS INC COMM STK 867892101 65,908 5,289,544 SH   SOLE   292,967 0 4,996,577
URBAN EDGE PROPERTIES COMM STK 91704F104 44,917 2,718,961 SH   SOLE   111,504 0 2,607,457
VENTAS INC COMM STK 92276F100 84,131 1,577,264 SH   SOLE   263,222 0 1,314,042
VEREIT INC COMM STK 92339V308 134,120 3,472,801 SH   SOLE   250,569 0 3,222,232
VEREIT INC COMM STK 92339V308 1,367 35,401 SH   OTR   0 0 35,401
VICI PROPERTIES INC COMM STK 925652109 89,287 3,161,710 SH   SOLE   250,023 0 2,911,687
WELLTOWER INC COMM STK 95040Q104 122,493 1,710,075 SH   SOLE   168,646 0 1,541,429
WEYERHAEUSER CO COMM STK 962166104 759 21,328 SH   SOLE   21,328 0 0