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

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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 NAMEN AKT D18190898 72 9,000 SH   SOLE   9,000 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 9,678 407,208 SH   SOLE   407,208 0 0
AVALONBAY CMNTYS INC COM 053484101 23,145 132,945 SH   SOLE   132,945 0 0
BOSTON PROPERTIES INC COM 101121101 19,533 173,500 SH   SOLE   173,500 0 0
DOUGLAS EMMETT COM 25960P109 8,159 239,000 SH   SOLE   239,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 29,432 445,759 SH   SOLE   445,759 0 0
ESSEX PPTY TR INC COM 297178105 10,762 43,879 SH   SOLE   43,879 0 0
KILROY REALTY CORP COM 49427F108 10,630 169,000 SH   SOLE   169,000 0 0
NATIONAL RETAIL PPTYS COM 637417106 3,203 66,000 SH   SOLE   66,000 0 0
PARAMOUNT GROUP INC COM 69924R108 11,593 922,736 SH   SOLE   922,736 0 0
PROLOGIS INC COM 74340W103 21,030 358,041 SH   SOLE   358,041 0 0
SL GREEN RLTY CORP COM 78440X101 16,056 202,977 SH   SOLE   202,977 0 0
SIMON PPTY GROUP INC COM 828806109 27,472 163,488 SH   SOLE   163,488 0 0
TAUBMAN CTRS INC COM 876664103 18,324 402,700 SH   SOLE   402,700 0 0
FIAT CHRYSLER AUTOMOBILES N SHS N31738102 109 7,520 SH   SOLE   7,520 0 0