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
DEUTSCHE BANK AG-REGISTERED NAMEN AKT D18190898 301 17,012 SH   SOLE   17,012 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 11,320 407,208 SH   SOLE   407,208 0 0
AVALONBAY CMNTYS INC COM 053484101 19,830 103,195 SH   SOLE   103,195 0 0
BOSTON PROPERTIES INC COM 101121101 16,029 130,300 SH   SOLE   130,300 0 0
DOUGLAS EMMETT DL -,01 COM 25960P109 9,132 239,000 SH   SOLE   239,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 24,663 374,659 SH   SOLE   374,659 0 0
ESSEX PPTY TR INC COM 297178105 11,288 43,879 SH   SOLE   43,879 0 0
KILROY REALTY CORP.DL-,01 COM 49427F108 11,648 155,000 SH   SOLE   155,000 0 0
NATIONAL RETAIL PPTYS COM 637417106 2,580 66,000 SH   SOLE   66,000 0 0
PARAMOUNT GROUP INC COM 69924R108 13,488 843,036 SH   SOLE   843,036 0 0
PROLOGIS INC COM 74340W103 20,995 358,041 SH   SOLE   358,041 0 0
SL GREEN REALTY DL-,01 COM 78440X101 21,474 202,977 SH   SOLE   202,977 0 0
SIMON PPTY GROUP INC COM 828806109 24,884 153,838 SH   SOLE   153,838 0 0
TAUBMAN CTRS INC COM 876664103 15,083 253,300 SH   SOLE   253,300 0 0
CNH INDL N V SHS N20944109 47 4,144 SH   SOLE   4,144 0 0
FIAT CHRYSLER AUTOMOBILES SHS N31738102 56 5,318 SH   SOLE   5,318 0 0