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
ACADIA RLTY TR COM SH BEN INT 004239109 5,043 173,256 SH   SOLE   173,256 0 0
AGREE REALTY CORP COM 008492100 4,002 137,205 SH   SOLE   137,205 0 0
AMERICAN TOWER CORP NEW COM 03027X100 14,533 155,779 SH   SOLE   155,779 0 0
BOSTON PROPERTIES INC COM 101121101 11,881 98,159 SH   SOLE   98,159 0 0
CAMDEN PPTY TR SH BEN INT 133131102 6,007 80,870 SH   SOLE   80,870 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 6,198 203,350 SH   SOLE   203,350 0 0
CYRUSONE INC COM 23283R100 3,580 121,551 SH   SOLE   121,551 0 0
EPR PPTYS COM SH BEN INT 26884U109 4,001 73,042 SH   SOLE   73,042 0 0
EQUINIX INC COM PAR $0.001 29444U700 7,029 27,672 SH   SOLE   27,672 0 0
ESSEX PPTY TR INC COM 297178105 10,602 49,892 SH   SOLE   49,892 0 0
EXTRA SPACE STORAGE INC COM 30225T102 6,210 95,218 SH   SOLE   95,218 0 0
GEO GROUP INC NEW COM 36162J106 4,708 137,830 SH   SOLE   137,830 0 0
HUDSON PAC PPTYS INC COM 444097109 3,585 126,361 SH   SOLE   126,361 0 0
KIMCO RLTY CORP COM 49446R109 5,623 249,473 SH   SOLE   249,473 0 0
LTC PPTYS INC COM 502175102 4,833 116,166 SH   SOLE   116,166 0 0
MACERICH CO COM 554382101 4,789 64,202 SH   SOLE   64,202 0 0
MID-AMER APT CMNTYS INC COM 59522J103 5,735 78,763 SH   SOLE   78,763 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 7,816 227,672 SH   SOLE   227,672 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 4,569 106,542 SH   SOLE   106,542 0 0
PROLOGIS INC COM 74340W103 6,722 181,184 SH   SOLE   181,184 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 4,946 316,632 SH   SOLE   316,632 0 0
SBA COMMUNICATIONS CORP COM 78388J106 3,242 28,199 SH   SOLE   28,199 0 0
SIMON PPTY GROUP INC NEW COM 828806109 21,104 121,973 SH   SOLE   121,973 0 0
SL GREEN RLTY CORP COM 78440X101 10,033 91,303 SH   SOLE   91,303 0 0
SOVRAN SELF STORAGE INC COM 84610H108 5,631 64,796 SH   SOLE   64,796 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 4,985 515,496 SH   SOLE   515,496 0 0
STAG INDL INC COM 85254J102 7,613 380,655 SH   SOLE   380,655 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 5,391 444,813 SH   SOLE   444,813 0 0
UDR INC COM 902653104 9,677 302,130 SH   SOLE   302,130 0 0
VENTAS INC COM 92276F100 11,404 183,661 SH   SOLE   183,661 0 0