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 4,451 419,522 SH   SOLE 419,522 0 0
AMB PROPERTY CORP COM 00163T109 146 22,530 SH   SOLE 22,530 0 0
AVALONBAY CMNTYS INC COM 053484101 5,038 107,060 SH   SOLE 107,060 0 0
BOSTON PROPERTIES INC COM 101121101 4,250 121,337 SH   SOLE 121,337 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 1,173 170,526 SH   SOLE 170,526 0 0
ESSEX PPTY TR INC COM 297178105 2,212 38,582 SH   SOLE 38,582 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 15,382 334,387 SH   SOLE 332,279 0 2,108
HOME PROPERTIES INC COM 437306103 6,009 196,065 SH   SOLE 196,065 0 0
HOST HOTELS & RESORTS INC COM 44107P104 1,269 323,765 SH   SOLE 323,765 0 0
KILROY RLTY CORP COM 49427F108 471 27,382 SH   SOLE 27,382 0 0
KIMCO REALTY CORP COM 49446R109 1,146 150,345 SH   SOLE 150,345 0 0
PUBLIC STORAGE COM 74460D109 8,940 161,814 SH   SOLE 161,814 0 0
REGENCY CTRS CORP COM 758849103 9,241 347,811 SH   SOLE 332,438 0 15,373
SIMON PPTY GROUP INC NEW COM 828806109 29,042 891,677 SH   SOLE 850,172 0 41,505
SL GREEN RLTY CORP COM 78440X101 1,651 152,838 SH   SOLE 152,838 0 0
VORNADO RLTY TR SH BEN INT 929042109 5,752 173,058 SH   SOLE 173,058 0 0