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 1,775 18,100 SH   SOLE   18,100 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 1,033 24,100 SH   SOLE   24,100 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,902 20,200 SH   SOLE   20,200 0 0
AVALONBAY CMNTYS INC COM 053484101 5,733 32,900 SH   SOLE   32,900 0 0
BOSTON PROPERTIES INC COM 101121101 9,806 69,800 SH   SOLE   69,800 0 0
CAMDEN PPTY TR SH BEN INT 133131102 1,680 21,500 SH   SOLE   21,500 0 0
CUBESMART COM 229663109 804 33,300 SH   SOLE   33,300 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 3,749 265,300 SH   SOLE   265,300 0 0
DOUGLAS EMMETT INC COM 25960P109 1,902 63,800 SH   SOLE   63,800 0 0
EASTGROUP PPTY INC COM 277276101 1,582 26,300 SH   SOLE   26,300 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 1,402 52,800 SH   SOLE   52,800 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 1,143 20,800 SH   SOLE   20,800 0 0
EQUITY ONE COM 294752100 1,012 37,900 SH   SOLE   37,900 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 6,782 87,100 SH   SOLE   87,100 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 10,611 359,100 SH   SOLE   359,100 0 0
HEALTH CARE REIT INC COM 42217K106 13,840 178,900 SH   SOLE   178,900 0 0
HOME PROPERTIES INC COM 437306103 1,012 14,600 SH   SOLE   14,600 0 0
KIMCO RLTY CORP COM 49446R109 6,390 238,000 SH   SOLE   238,000 0 0
PARAMOUNT GROUP INC COM 69924R108 1,695 87,800 SH   SOLE   87,800 0 0
POST PPTYS INC COM 737464107 786 13,800 SH   SOLE   13,800 0 0
PROLOGIS INC COM 74340W103 5,484 125,900 SH   SOLE   125,900 0 0
PUBLIC STORAGE COM 74460D109 5,934 30,100 SH   SOLE   30,100 0 0
RETAIL PPTYS AMER INC CL A 76131V202 2,152 134,250 SH   SOLE   134,250 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 6,944 574,800 SH   SOLE   574,800 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 4,655 279,262 SH   SOLE   279,262 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 2,342 66,600 SH   SOLE   66,600 0 0
TAUBMAN CTRS INC COM 876664103 3,286 42,600 SH   SOLE   42,600 0 0