13F-HR 1 decval.txt Title of Value Shares/ SH/ PUT/ INVSTMT OTH VOTING AUTHORITY Issuer Class CUSIP (x$1000) PRN Amount PRN CALL DISCRETN MGR SOLE SHARE NONE AKR Comm Stk 423109 7154 501300 SH SOLE 0 0 501300 AMB Comm Stk 00163T109 50391 2151604 SH SOLE 1154087 0 997517 ARE Comm Stk 15271109 4188 69400 SH SOLE 0 0 69400 AVB Comm Stk 53484101 216656 3576367 SH SOLE 1650445 0 1925922 BMR Comm Stk 09063H107 44301 3779953 SH SOLE 823143 0 2956810 BXP Comm Stk 101121101 106059 1928342 SH SOLE 1017416 0 910926 BDN Comm Stk 105368203 7856 1018879 SH SOLE 19571 0 999308 BRE Comm Stk 05564E106 144394 5160598 SH SOLE 1292681 0 3867917 BPO Comm Stk 112900105 55766 7214244 SH SOLE 4345260 0 2868984 CPT Comm Stk 133131102 34592 1103759 SH SOLE 36562 0 1067197 CLI Comm Stk 554489104 327 13327 SH SOLE 0 0 13327 CLP Comm Stk 195872106 319 38285 SH SOLE 18349 0 19936 OFC Comm Stk 22002T108 800 26074 SH SOLE 0 0 26074 DCT Comm Stk 233153105 3201 632707 SH SOLE 42825 0 589882 DDR Comm Stk 251591103 197 40437 SH SOLE 39000 0 1437 DRH Comm Stk 252784301 21753 4290569 SH SOLE 1696499 0 2594070 DEI Comm Stk 25960P109 52577 4025834 SH SOLE 1404292 0 2621542 DRE Comm Stk 264411505 58298 5319174 SH SOLE 1465548 0 3853626 EQR Comm Stk 29476L107 243581 8168376 SH SOLE 1649719 0 6518657 EQY Comm Stk 294752100 7072 399559 SH SOLE 2671 0 396888 ESS Comm Stk 297178105 37561 489398 SH SOLE 34200 0 455198 EXR Comm Stk 30225T102 16920 1639533 SH SOLE 529662 0 1109871 FRT Comm Stk 313747206 149195 2403272 SH SOLE 850676 0 1552596 GGP Comm Stk 370021107 11 8348 SH SOLE 0 0 8348 HCP Comm Stk 421915109 33178 1194755 SH SOLE 589989 0 604766 HST Comm Stk 44107P104 80009 10569201 SH SOLE 5157890 0 5411311 HPT Comm Stk 44106M102 373 25108 SH SOLE 4098 0 21010 HRP Comm Stk 40426W101 223 66068 SH SOLE 18567 0 47501 IYR ETF 464287739 2424 65100 SH SOLE 0 0 65100 SFI Comm Stk 45031U101 6 2547 SH SOLE 2547 0 0 KRC Comm Stk 49427F108 92904 2776572 SH SOLE 1079890 0 1696682 KIM Comm Stk 49446R109 94230 5154790 SH SOLE 2721282 0 2433508 LHO Comm Stk 517942108 14264 1290850 SH SOLE 714806 0 576044 LRY Comm Stk 531172104 25396 1112415 SH SOLE 9995 0 1102420 MAC Comm Stk 554382101 99561 5482409 SH SOLE 1812874 0 3669535 PKY Comm Stk 70159Q104 583 32409 SH SOLE 4955 0 27454 PCL Comm Stk 729251108 7936 228449 SH SOLE 23200 0 205249 PPS Comm Stk 737464107 34383 2083827 SH SOLE 517797 0 1566030 PLD Comm Stk 743410102 105277 7579318 SH SOLE 3749184 0 3830134 PSB Comm Stk 69360J107 128 2874 SH SOLE 0 0 2874 PSA Comm Stk 74460D109 118611 1491962 SH SOLE 816353 0 675609 REG Comm Stk 758849103 145864 3123430 SH SOLE 1127694 0 1995736 SNH Comm Stk 81721M109 76676 4278775 SH SOLE 2117200 0 2161575 SPG Comm Stk 828806109 224260 4220969 SH SOLE 2012690 0 2208279 SLG Comm Stk 78440X101 69083 2667302 SH SOLE 1155192 0 1512110 SSS Comm Stk 84610H108 1642 45620 SH SOLE 3414 0 42206 SUI Comm Stk 866674104 407 29100 SH SOLE 29100 0 0 SHO Comm Stk 867892101 988 159642 SH SOLE 4858 0 154784 TCO Comm Stk 876664103 44508 1748141 SH SOLE 466323 0 1281818 UDR Comm Stk 910197102 37679 2732327 SH SOLE 616760 0 2115567 VTR Comm Stk 92276F100 164811 4909482 SH SOLE 2570230 0 2339252 VNO Comm Stk 929042109 201478 3338499 SH SOLE 1586672 0 1751827 WRI Comm Stk 948741103 45181 2183706 SH SOLE 652531 0 1531175 Grand Total 2985233 122594986 47638697 0 74956289