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
ABERCROMBIE & FITCH CO CL A CL A 002896207 7,366 348,760 SH   SOLE   348,760 0 0
ALEXANDRIA REAL ESTATE EQ IN COM COM 015271109 9,156 72,775 SH   SOLE   33,175 0 39,600
ALLEGION PUB LTD CO ORD SHS SHS G0176J109 3,097 34,200 SH   SOLE   34,200 0 0
ALPHABET INC CAP STK CL A CL A 02079K305 4,402 3,647 SH   SOLE   3,647 0 0
AMERICAN CAMPUS CMNTYS INC COM COM 024835100 1,718 41,748 SH   SOLE   41,748 0 0
AMERICAN EAGLE OUTFITTERS NE COM COM 02553E106 3,835 154,470 SH   SOLE   154,470 0 0
AMERICAN EQTY INVT LIFE HLD COM COM 025676206 5,181 146,515 SH   SOLE   146,515 0 0
AMERICAN HOMES 4 RENT CL A CL A 02665T306 1,066 48,678 SH   SOLE   48,678 0 0
ANTERO RES CORP COM COM 03674X106 118 6,650 SH   SOLE   6,650 0 0
APARTMENT INVT & MGMT CO CL A CL A 03748R101 2,496 56,570 SH   SOLE   56,570 0 0
APPLE HOSPITALITY REIT INC COM NEW COM NEW 03784Y200 1,746 99,832 SH   SOLE   99,832 0 0
APPLIED MATLS INC COM COM 038222105 2,814 72,787 SH   SOLE   72,787 0 0
ARES CAP CORP COM COM 04010L103 21,125 1,228,895 SH   SOLE   1,228,895 0 0
ARGO GROUP INTL HLDGS LTD COM COM G0464B107 4,957 78,620 SH   SOLE   78,620 0 0
ASHFORD HOSPITALITY TR INC COM SHS SHS 044103109 1,236 193,303 SH   SOLE   193,303 0 0
AVALONBAY CMNTYS INC COM COM 053484101 18,698 103,217 SH   SOLE   53,199 0 50,018
HOPE BANCORP INC COM COM 43940T109 4,148 256,536 SH   SOLE   256,536 0 0
BLACKROCK INC COM COM 09247X101 3,292 6,985 SH   SOLE   6,985 0 0
BOOKING HLDGS INC COM COM 09857L108 2,935 1,479 SH   SOLE   1,479 0 0
BOSTON PROPERTIES INC COM COM 101121101 6,332 51,436 SH   SOLE   51,436 0 0
BRANDYWINE RLTY TR SH BEN INT NEW SH BEN INT NEW 105368203 1,146 72,881 SH   SOLE   72,881 0 0
BRIXMOR PPTY GROUP INC COM COM 11120U105 3,046 173,970 SH   SOLE   173,970 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN UNIT LTD PARTN G16249107 8,645 320,072 SH   SOLE   320,072 0 0
BROOKFIELD PROPERTY REIT INC CL A CL A 11282X103 9,795 468,000 SH   SOLE   468,000 0 0
BRUNSWICK CORP COM COM 117043109 10,366 154,677 SH   SOLE   154,677 0 0
CABOT CORP COM COM 127055101 4,349 69,345 SH   SOLE   69,345 0 0
CAMDEN PPTY TR SH BEN INT SH BEN INT 133131102 2,755 29,445 SH   SOLE   29,445 0 0
CDN IMPERIAL BK COMM TORONTO COM COM 136069101 26,827 221,660 SH   SOLE   221,660 0 0
CAPITAL ONE FINL CORP COM COM 14040H105 180 1,900 SH   SOLE   1,900 0 0
CARDINAL HEALTH INC COM COM 14149Y108 21,957 406,590 SH   SOLE   406,590 0 0
CBL & ASSOC PPTYS INC COM COM 124830100 1,859 466,029 SH   SOLE   466,029 0 0
CISCO SYS INC COM COM 17275R102 3,316 68,168 SH   SOLE   68,168 0 0
CITIGROUP INC COM NEW COM NEW 172967424 127 1,770 SH   SOLE   1,770 0 0
COLUMBIA PPTY TR INC COM NEW COM NEW 198287203 1,264 53,475 SH   SOLE   53,475 0 0
COPA HOLDINGS SA CL A CL A P31076105 12,384 155,105 SH   SOLE   155,105 0 0
COREPOINT LODGING INC COM COM 21872L104 377 19,391 SH   SOLE   19,391 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT SH BEN INT 22002T108 6,388 214,130 SH   SOLE   90,428 0 123,702
COUSINS PPTYS INC COM COM 222795106 1,895 213,100 SH   SOLE   63,100 0 150,000
CUBESMART COM COM 229663109 23,891 837,436 SH   SOLE   837,436 0 0
DEERE & CO COM COM 244199105 3,350 22,286 SH   SOLE   22,286 0 0
DEL FRISCOS RESTAURANT GROUP COM COM 245077102 2,689 324,021 SH   SOLE   324,021 0 0
DELEK US HLDGS INC NEW COM COM 24665A103 3,836 90,415 SH   SOLE   90,415 0 0
DIAMONDROCK HOSPITALITY CO COM COM 252784301 4,146 355,293 SH   SOLE   355,293 0 0
DIGITAL RLTY TR INC COM COM 253868103 10,928 97,155 SH   SOLE   56,808 0 40,347
DOUGLAS EMMETT INC COM COM 25960P109 1,398 37,037 SH   SOLE   37,037 0 0
DUKE REALTY CORP COM NEW COM NEW 264411505 2,268 79,963 SH   SOLE   79,963 0 0
EASTGROUP PPTY INC COM COM 277276101 851 8,900 SH   SOLE   0 0 8,900
EMPIRE ST RLTY TR INC CL A CL A 292104106 14,253 858,074 SH   SOLE   462,912 0 395,162
ENERSYS COM COM 29275Y102 10,533 120,888 SH   SOLE   120,888 0 0
EPR PPTYS COM SH BEN INT SH BEN INT 26884U109 5,330 77,911 SH   SOLE   40,511 0 37,400
EQUITY COMWLTH COM SH BEN INT SH BEN INT 294628102 1,091 33,990 SH   SOLE   33,990 0 0
EQUITY LIFESTYLE PPTYS INC COM COM 29472R108 1,528 15,846 SH   SOLE   15,846 0 0
EQUITY RESIDENTIAL SH BEN INT SH BEN INT 29476L107 11,841 178,716 SH   SOLE   178,716 0 0
ESSEX PPTY TR INC COM COM 297178105 13,077 53,004 SH   SOLE   24,812 0 28,192
LAUDER ESTEE COS INC CL A CL A 518439104 3,508 24,143 SH   SOLE   24,143 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B UNIT 99/99/9999B 30224P200 2,070 102,329 SH   SOLE   102,329 0 0
EXTRA SPACE STORAGE INC COM COM 30225T102 1,941 22,394 SH   SOLE   22,394 0 0
EXXON MOBIL CORP COM COM 30231G102 27,350 321,690 SH   SOLE   321,690 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW SH BEN INT NEW 313747206 2,026 16,023 SH   SOLE   16,023 0 0
FIRST SOLAR INC COM COM 336433107 9,720 200,748 SH   SOLE   200,748 0 0
FOREST CITY RLTY TR INC COM CL A CL A 345605109 1,596 63,599 SH   SOLE   63,599 0 0
GILEAD SCIENCES INC COM COM 375558103 28,567 369,990 SH   SOLE   369,990 0 0
GRAMERCY PPTY TR COM NEW COM NEW 385002308 957 34,869 SH   SOLE   34,869 0 0
HCP INC COM COM 40414L109 6,564 249,392 SH   SOLE   249,392 0 0
HEALTHCARE RLTY TR COM COM 421946104 4,925 168,352 SH   SOLE   168,352 0 0
HEALTHCARE TR AMER INC CL A NEW CL A NEW 42225P501 11,288 423,208 SH   SOLE   164,768 0 258,440
HIGHWOODS PPTYS INC COM COM 431284108 1,494 31,617 SH   SOLE   31,617 0 0
HOST HOTELS & RESORTS INC COM COM 44107P104 7,806 369,957 SH   SOLE   123,851 0 246,106
HUDSON PAC PPTYS INC COM COM 444097109 11,224 343,037 SH   SOLE   124,226 0 218,811
HUNTINGTON BANCSHARES INC COM COM 446150104 20,207 1,354,350 SH   SOLE   1,354,350 0 0
INTEL CORP COM COM 458140100 2,457 51,966 SH   SOLE   51,966 0 0
INVESCO LTD SHS SHS G491BT108 20,628 901,570 SH   SOLE   901,570 0 0
INVITATION HOMES INC COM COM 46187W107 3,979 173,700 SH   SOLE   97,700 0 76,000
IQVIA HLDGS INC COM COM 46266C105 3,334 25,697 SH   SOLE   25,697 0 0
JABIL INC COM COM 466313103 5,393 199,159 SH   SOLE   199,159 0 0
JPMORGAN CHASE & CO COM COM 46625H100 3,426 30,357 SH   SOLE   30,357 0 0
KAISER ALUMINUM CORP COM PAR $0.01 COM PAR $0.01 483007704 2,932 26,884 SH   SOLE   26,884 0 0
KILROY RLTY CORP COM COM 49427F108 1,313 18,321 SH   SOLE   18,321 0 0
KIMCO RLTY CORP COM COM 49446R109 3,725 222,563 SH   SOLE   222,563 0 0
L BRANDS INC COM COM 501797104 21,791 719,170 SH   SOLE   719,170 0 0
LEXINGTON REALTY TRUST COM COM 529043101 1,184 142,531 SH   SOLE   142,531 0 0
LHC GROUP INC COM COM 50187A107 13,648 132,527 SH   SOLE   132,527 0 0
LIBERTY PPTY TR SH BEN INT SH BEN INT 531172104 2,019 47,784 SH   SOLE   47,784 0 0
LIFE STORAGE INC COM COM 53223X107 914 9,600 SH   SOLE   9,600 0 0
LUXFER HOLDINGS PLC SHS SHS G5698W116 28,084 723,271 SH   SOLE   723,271 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - SHS - A - N53745100 27,479 268,065 SH   SOLE   268,065 0 0
MACK CALI RLTY CORP COM COM 554489104 1,288 60,553 SH   SOLE   60,553 0 0
MARSH & MCLENNAN COS INC COM COM 571748102 3,106 37,551 SH   SOLE   37,551 0 0
MASTERCARD INCORPORATED CL A CL A 57636Q104 3,843 17,262 SH   SOLE   17,262 0 0
MRC GLOBAL INC COM COM 55345K103 6,622 352,795 SH   SOLE   352,795 0 0
MEDICAL PPTYS TRUST INC COM COM 58463J304 1,313 88,055 SH   SOLE   88,055 0 0
MICROSOFT CORP COM COM 594918104 4,252 37,179 SH   SOLE   37,179 0 0
MID AMER APT CMNTYS INC COM COM 59522J103 12,597 125,742 SH   SOLE   57,397 0 68,345
NATIONAL RETAIL PPTYS INC COM COM 637417106 9,650 215,291 SH   SOLE   94,401 0 120,890
NIKE INC CL B CL B 654106103 3,384 39,942 SH   SOLE   39,942 0 0
OMEGA HEALTHCARE INVS INC COM COM 681936100 2,756 84,099 SH   SOLE   84,099 0 0
OMNICOM GROUP INC COM COM 681919106 20,811 305,960 SH   SOLE   305,960 0 0
PARAMOUNT GROUP INC COM COM 69924R108 1,123 74,354 SH   SOLE   74,354 0 0
PEPSICO INC COM COM 713448108 23,172 207,264 SH   SOLE   207,264 0 0
PLDT INC SPONSORED ADR SPONSORED ADR 69344D408 12,091 470,460 SH   SOLE   470,460 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A CL A 720190206 1,248 65,925 SH   SOLE   65,925 0 0
PPG INDS INC COM COM 693506107 2,202 20,176 SH   SOLE   20,176 0 0
PPL CORP COM COM 69351T106 21,410 731,690 SH   SOLE   731,690 0 0
PROLOGIS INC COM COM 74340W103 26,458 390,283 SH   SOLE   198,476 0 191,807
PRUDENTIAL FINL INC COM COM 744320102 21,022 207,480 SH   SOLE   207,480 0 0
PS BUSINESS PKS INC CALIF COM COM 69360J107 954 7,505 SH   SOLE   7,505 0 0
PUBLIC SVC ENTERPRISE GROUP COM COM 744573106 11,710 221,816 SH   SOLE   221,816 0 0
PUBLIC STORAGE COM COM 74460D109 19,904 98,710 SH   SOLE   53,967 0 44,743
REALTY INCOME CORP COM COM 756109104 3,746 65,844 SH   SOLE   65,844 0 0
REDWOOD TR INC COM COM 758075402 12,465 767,534 SH   SOLE   767,534 0 0
REGENCY CTRS CORP COM COM 758849103 7,232 111,837 SH   SOLE   53,631 0 58,206
RENAISSANCERE HOLDINGS LTD COM COM G7496G103 8,083 60,510 SH   SOLE   60,510 0 0
RETAIL PPTYS AMER INC CL A CL A 76131V202 30,568 2,507,637 SH   SOLE   2,064,437 0 443,200
RETAIL VALUE INC COM COM 76133Q102 271 8,327 SH   SOLE   8,327 0 0
RLJ LODGING TR COM COM 74965L101 1,767 80,215 SH   SOLE   80,215 0 0
SANDERSON FARMS INC COM COM 800013104 4,000 38,700 SH   SOLE   38,700 0 0
SCORPIO TANKERS INC SHS SHS Y7542C106 60 30,040 SH   SOLE   30,040 0 0
SENIOR HSG PPTYS TR SH BEN INT SH BEN INT 81721M109 2,592 147,623 SH   SOLE   147,623 0 0
SIMON PPTY GROUP INC NEW COM COM 828806109 45,305 256,323 SH   SOLE   186,446 0 69,877
SK TELECOM LTD SPONSORED ADR SPONSORED ADR 78440P108 22,144 794,290 SH   SOLE   794,290 0 0
SL GREEN RLTY CORP COM COM 78440X101 2,998 30,739 SH   SOLE   30,739 0 0
SLEEP NUMBER CORP COM COM 83125X103 6,839 185,948 SH   SOLE   185,948 0 0
SPIRIT AIRLS INC COM COM 848577102 9,027 192,188 SH   SOLE   192,188 0 0
STORE CAP CORP COM COM 862121100 873 31,400 SH   SOLE   31,400 0 0
STRATEGIC ED INC COM COM 86272C103 5,464 39,877 SH   SOLE   39,877 0 0
SUN CMNTYS INC COM COM 866674104 1,432 14,107 SH   SOLE   14,107 0 0
SUN LIFE FINL INC COM COM 866796105 27,082 527,406 SH   SOLE   527,406 0 0
SUNSTONE HOTEL INVS INC NEW COM COM 867892101 5,116 312,700 SH   SOLE   116,600 0 196,100
SYNAPTICS INC COM COM 87157D109 7,572 165,987 SH   SOLE   165,987 0 0
SYSCO CORP COM COM 871829107 3,048 41,621 SH   SOLE   41,621 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR SPONSORED ADR 874039100 23,590 534,180 SH   SOLE   534,180 0 0
TANGER FACTORY OUTLET CTRS I COM COM 875465106 1,148 50,198 SH   SOLE   50,198 0 0
TAUBMAN CTRS INC COM COM 876664103 2,001 33,438 SH   SOLE   33,438 0 0
TECH DATA CORP COM COM 878237106 4,753 66,405 SH   SOLE   66,405 0 0
TELEFONICA BRASIL SA SPONSORED ADR SPONSORED ADR 87936R106 22,132 2,274,564 SH   SOLE   2,274,564 0 0
TENNECO INC COM COM 880349105 5,816 138,012 SH   SOLE   138,012 0 0
TERADYNE INC COM COM 880770102 5,952 160,952 SH   SOLE   160,952 0 0
MACERICH CO COM COM 554382101 4,543 82,178 SH   SOLE   70,178 0 12,000
THERMON GROUP HLDGS INC COM COM 88362T103 12,355 479,233 SH   SOLE   479,233 0 0
TRINITY INDS INC COM COM 896522109 11,813 322,418 SH   SOLE   322,418 0 0
TRITON INTL LTD CL A CL A G9078F107 18,859 566,829 SH   SOLE   566,829 0 0
TUTOR PERINI CORP COM COM 901109108 62 3,320 SH   SOLE   3,320 0 0
TWO HBRS INVT CORP COM NEW COM NEW 90187B408 11,811 791,106 SH   SOLE   791,106 0 0
U S SILICA HLDGS INC COM COM 90346E103 5,788 307,403 SH   SOLE   307,403 0 0
UDR INC COM COM 902653104 2,690 66,537 SH   SOLE   66,537 0 0
VAREX IMAGING CORP COM COM 92214X106 4,077 142,257 SH   SOLE   142,257 0 0
VENTAS INC COM COM 92276F100 17,679 325,109 SH   SOLE   195,409 0 129,700
VEREIT INC COM COM 92339V100 6,794 935,692 SH   SOLE   291,100 0 644,592
VERIZON COMMUNICATIONS INC COM COM 92343V104 21,298 398,925 SH   SOLE   398,925 0 0
VISA INC COM CL A CL A 92826C839 1,992 13,270 SH   SOLE   13,270 0 0
VORNADO RLTY TR SH BEN INT SH BEN INT 929042109 5,702 78,118 SH   SOLE   78,118 0 0
WASHINGTON PRIME GROUP NEW COM COM 93964W108 2,623 359,158 SH   SOLE   359,158 0 0
WEINGARTEN RLTY INVS SH BEN INT SH BEN INT 948741103 1,582 53,176 SH   SOLE   53,176 0 0
WELLTOWER INC COM COM 95040Q104 9,490 147,550 SH   SOLE   147,550 0 0
WOLVERINE WORLD WIDE INC COM COM 978097103 2,980 76,300 SH   SOLE   76,300 0 0
W P CAREY INC COM COM 92936U109 2,152 33,463 SH   SOLE   33,463 0 0