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
ATHENE HOLDING LTD CL A G0684D107 17,218 333,300 SH   DFND 1 333,300 0 0
INGERSOLL-RAND PLC SHS G47791101 13,493 131,900 SH   DFND 1 131,900 0 0
WEATHERFORD INTL PLC ORD SHS G48833100 2,876 1,061,200 SH   DFND 1 1,061,200 0 0
NORWEGIAN CRUISE LINE HLDGS L SHS G66721104 19,877 346,100 SH   DFND 1 346,100 0 0
NXP SEMICONDUCTORS N V COM N6596X109 5,575 65,200 SH   DFND 1 65,200 0 0
FLEX LTD ORD Y2573F102 8,626 657,500 SH   DFND 1 657,500 0 0
AT&T INC COM 00206R102 15,091 449,400 SH   DFND 1 449,400 0 0
ABBOTT LAB COM 002824100 23,299 317,596 SH   DFND 1 317,596 0 0
ACADIA RLTY TR COM 004239109 1,460 52,070 SH   DFND 1 52,070 0 0
ACTIVISION BLIZZARD INC COM 00507V109 17,611 211,700 SH   DFND 1 211,700 0 0
AFFILIATED MANAGERS GROUP INC COM 008252108 12,872 94,150 SH   DFND 1 94,150 0 0
ALEXANDRIA REAL ESTATE EQUITIES INC COM 015271109 4,932 39,209 SH   DFND 1 39,209 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 17,738 127,600 SH   DFND 1 127,600 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 14,664 89,000 SH   DFND 1 89,000 0 0
ALPHABET HOLDINGS INC CAP STK CL A 02079K305 50,112 41,515 SH   DFND 1 41,515 0 0
AMAZON COM INC COM 023135106 62,894 31,400 SH   DFND 1 31,400 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 1,139 27,675 SH   DFND 1 27,675 0 0
AMERICAN EXPRESS CO COM 025816109 16,346 153,500 SH   DFND 1 153,500 0 0
AMERICAN HOMES 4 RENT COM 02665T306 2,184 99,754 SH   DFND 1 99,754 0 0
AMERICAN TOWER CORP COM 03027X100 1,618 11,135 SH   DFND 1 11,135 0 0
AMERIPRISE FINL INC COM 03076C106 14,131 95,700 SH   DFND 1 95,700 0 0
ANADARKO PETRO CORP COM 032511107 13,698 203,200 SH   DFND 1 203,200 0 0
ANALOG DEVICES INC COM 032654105 11,594 125,400 SH   DFND 1 125,400 0 0
APPLE INC COM 037833100 33,003 146,200 SH   DFND 1 146,200 0 0
AVALONBAY CMNTYS INC COM 053484101 7,844 43,303 SH   DFND 1 43,303 0 0
AVNET INC COM 053807103 8,967 200,300 SH   DFND 1 200,300 0 0
BANK OF AMERICA CORP COM 060505104 27,306 926,900 SH   DFND 1 926,900 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 22,974 603,300 SH   DFND 1 603,300 0 0
BSTN PPTYS INC COM 101121101 6,475 52,601 SH   DFND 1 52,601 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 1,221 77,682 SH   DFND 1 77,682 0 0
CME GROUP INC COM 12572Q105 11,847 69,600 SH   DFND 1 69,600 0 0
CAMDEN PPTY TR SH BEN INT 133131102 3,798 40,592 SH   DFND 1 40,592 0 0
CHEVRON CORP COM 166764100 32,074 262,300 SH   DFND 1 262,300 0 0
CISCO SYSTEMS INC COM 17275R102 24,880 511,400 SH   DFND 1 511,400 0 0
CITIGROUP INC COM NEW 172967424 24,033 335,000 SH   DFND 1 335,000 0 0
COCA COLA CO COM 191216100 14,273 309,000 SH   DFND 1 309,000 0 0
COLONY CAP INC NEW CL A COM 19626G108 593 97,400 SH   DFND 1 97,400 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 696 29,430 SH   DFND 1 29,430 0 0
CONOCOPHILLIPS COM 20825C104 17,771 229,600 SH   DFND 1 229,600 0 0
CORECIVIC INC COM 21871N101 1,119 46,000 SH   DFND 1 46,000 0 0
CORP OFFICE PPTYS TR COM 22002T108 1,718 57,600 SH   DFND 1 57,600 0 0
COSTCO WHOLESALE CORP NEW COM 22160K105 22,008 93,700 SH   DFND 1 93,700 0 0
COUSINS PPTYS INC COM 222795106 2,366 266,125 SH   DFND 1 266,125 0 0
CYRUSONE INC COM 23283R100 2,379 37,531 SH   DFND 1 37,531 0 0
DANAHER CORP COM 235851102 30,903 284,400 SH   DFND 1 284,400 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 13,619 235,500 SH   DFND 1 235,500 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 2,216 189,885 SH   DFND 1 189,885 0 0
DIGITAL RLTY TR INC COM 253868103 7,473 66,440 SH   DFND 1 66,440 0 0
WALT DISNEY CO COM 254687106 11,706 100,100 SH   DFND 1 100,100 0 0
DOLLAR GEN CORP NEW COM 256677105 20,406 186,700 SH   DFND 1 186,700 0 0
DOUGLAS EMMETT INC COM COM 25960P109 2,151 57,034 SH   DFND 1 57,034 0 0
DOWDUPONT INC COM 26078J100 14,489 225,300 SH   DFND 1 225,300 0 0
DUKE RLTY CORP COM NEW 264411505 4,617 162,755 SH   DFND 1 162,755 0 0
EOG RESOURCES INC COM 26875P101 15,028 117,800 SH   DFND 1 117,800 0 0
EPR PPTYS COM SH BEN INT 26884U109 2,579 37,699 SH   DFND 1 37,699 0 0
EASTGROUP PPTYS INC COM 277276101 1,851 19,360 SH   DFND 1 19,360 0 0
ELECTR ARTS COM 285512109 8,434 70,000 SH   DFND 1 70,000 0 0
EMERSON ELECTRIC CO COM 291011104 20,179 263,500 SH   DFND 1 263,500 0 0
EMPIRE ST RLTY TR INC CL A 292104106 927 55,790 SH   DFND 1 55,790 0 0
EQUINIX INC COM PAR $0.001 29444U700 10,824 25,003 SH   DFND 1 25,003 0 0
EQTY LIFESTYLE PPTYS INC COM 29472R108 3,380 35,048 SH   DFND 1 35,048 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 7,335 110,704 SH   DFND 1 110,704 0 0
ESSEX PPTY TR COM 297178105 4,597 18,632 SH   DFND 1 18,632 0 0
EXTRA SPACE STORAGE INC COM 30225T102 3,692 42,613 SH   DFND 1 42,613 0 0
FACEBOOK INC CL A 30303M102 24,044 146,200 SH   DFND 1 146,200 0 0
FEDERAL RLTY INVT TR SH BEN INT NEW 313747206 3,754 29,685 SH   DFND 1 29,685 0 0
FEDEX CORP COM 31428X106 12,040 50,000 SH   DFND 1 50,000 0 0
FIDELITY NATL INFORMATION SVCS INC COM 31620M106 13,143 120,500 SH   DFND 1 120,500 0 0
GEO GROUP INC(THE) COM 36162J106 1,562 62,090 SH   DFND 1 62,090 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 2,566 72,807 SH   DFND 1 72,807 0 0
GENERAL DYNAMICS CORP COM 369550108 20,984 102,500 SH   DFND 1 102,500 0 0
GILEAD SCIENCES INC COM 375558103 15,959 206,700 SH   DFND 1 206,700 0 0
GLOBAL PMTS INC COM 37940X102 17,390 136,500 SH   DFND 1 136,500 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 20,249 90,300 SH   DFND 1 90,300 0 0
HCP INC COM COM 40414L109 4,313 163,881 SH   DFND 1 163,881 0 0
HALLIBURTON CO COM 406216101 10,740 265,000 SH   DFND 1 265,000 0 0
HEALTHCARE RLTY TR COM 421946104 1,601 54,708 SH   DFND 1 54,708 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 2,039 76,461 SH   DFND 1 76,461 0 0
HELMERICH & PAYNE INC COM COM 423452101 10,171 147,900 SH   DFND 1 147,900 0 0
HEMISPHERE MEDIA GROUP INC CL A 42365Q103 12,986 930,913 SH   DFND 1 930,913 0 0
HIGHWOODS PPTYS INC COM 431284108 2,815 59,572 SH   DFND 1 59,572 0 0
HOME DEPOT INC COM 437076102 33,483 161,636 SH   DFND 1 161,636 0 0
HOST HOTELS & RESORTS INC COM 44107P104 5,875 278,413 SH   DFND 1 278,413 0 0
HUBBELL INC COM 443510607 7,694 57,600 SH   DFND 1 57,600 0 0
HUDSON PACIFIC PROPERTIES INC COM 444097109 2,958 90,410 SH   DFND 1 90,410 0 0
INTEL CORP COM 458140100 16,064 339,700 SH   DFND 1 339,700 0 0
INTERCONTINENTAL EXCHANGE INC COM 45866F104 21,553 287,800 SH   DFND 1 287,800 0 0
INVITATION HOMES INC COM 46187W107 2,725 118,925 SH   DFND 1 118,925 0 0
IRON MTN INC NEW COM 46284V101 1,607 46,566 SH   DFND 1 46,566 0 0
JBG SMITH PPTYS COM 46590V100 814 22,100 SH   DFND 1 22,100 0 0
JPMORGAN CHASE & CO COM 46625H100 22,308 197,700 SH   DFND 1 197,700 0 0
JOHNSON & JOHNSON COM 478160104 45,582 329,900 SH   DFND 1 329,900 0 0
KS CY SOUTHN COM 485170302 11,702 103,300 SH   DFND 1 103,300 0 0
KEYCORP NEW COM 493267108 10,528 529,300 SH   DFND 1 529,300 0 0
KILROY RLTY CORP COM 49427F108 2,814 39,254 SH   DFND 1 39,254 0 0
KIMCO RLTY CORP COM 49446R109 2,340 139,810 SH   DFND 1 139,810 0 0
KNIGHT-SWIFT TRANSN HLDGS INC CL A 499049104 14,333 415,700 SH   DFND 1 415,700 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 738 9,484 SH   DFND 1 9,484 0 0
LAUDER ESTEE COS INC CL A 518439104 18,209 125,300 SH   DFND 1 125,300 0 0
LIBERTY PPTY TR SH BEN INT 531172104 625 14,800 SH   DFND 1 14,800 0 0
MGM RESORTS INTERNATIONAL COM 552953101 14,901 533,900 SH   DFND 1 533,900 0 0
MACERICH CO COM 554382101 961 17,384 SH   DFND 1 17,384 0 0
MICROSOFT CORP COM 594918104 67,055 586,300 SH   DFND 1 586,300 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 16,445 208,400 SH   DFND 1 208,400 0 0
MID-AMER APT CMNTYS INC COM 59522J103 1,368 13,659 SH   DFND 1 13,659 0 0
MONDELEZ INTL INC COM 609207105 15,010 349,400 SH   DFND 1 349,400 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 2,298 51,261 SH   DFND 1 51,261 0 0
NETFLIX INC COM 64110L106 8,231 22,000 SH   DFND 1 22,000 0 0
NEWFIELD EXPLORATION COM 651290108 8,632 299,400 SH   DFND 1 299,400 0 0
NUTRIEN LTD COM 67077M108 13,466 233,374 SH   DFND 1 233,374 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 2,334 71,220 SH   DFND 1 71,220 0 0
PARK HOTELS & RESORTS INC COM 700517105 3,255 99,180 SH   DFND 1 99,180 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 2,070 56,915 SH   DFND 1 56,915 0 0
PRAXAIR INC COM 74005P104 11,042 68,700 SH   DFND 1 68,700 0 0
PROLOGIS INC COM 74340W103 13,577 200,273 SH   DFND 1 200,273 0 0
PUB STORAGE COM 74460D109 7,822 38,796 SH   DFND 1 38,796 0 0
REALTY INCOME CORP COM 756109104 4,877 85,733 SH   DFND 1 85,733 0 0
RED HAT INC COM 756577102 8,190 60,100 SH   DFND 1 60,100 0 0
REGENCY CTRS CORP COM 758849103 3,922 60,649 SH   DFND 1 60,649 0 0
RETAIL PPTYS AMER INC CL A 76131V202 1,699 139,370 SH   DFND 1 139,370 0 0
REXFORD INDL RLTY INC COM 76169C100 2,693 84,269 SH   DFND 1 84,269 0 0
ROPER TECHNOLOGIES INC COM 776696106 14,722 49,700 SH   DFND 1 49,700 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 2,494 28,940 SH   DFND 1 28,940 0 0
SL GREEN RLTY CORP COM 78440X101 2,716 27,850 SH   DFND 1 27,850 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 11,627 204,600 SH   DFND 1 204,600 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,860 80,465 SH   DFND 1 80,465 0 0
SALESFORCE COM INC COM 79466L302 20,340 127,900 SH   DFND 1 127,900 0 0
SCHLUMBERGER LTD COM 806857108 14,901 244,600 SH   DFND 1 244,600 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 10,209 189,300 SH   DFND 1 189,300 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 20,739 393,900 SH   DFND 1 393,900 0 0
SIMON PROPERTY GROUP INC COM 828806109 15,828 89,553 SH   DFND 1 89,553 0 0
STANLEY BLACK & DECKER INC COM 854502101 23,840 162,800 SH   DFND 1 162,800 0 0
SUN COMMUNITIES INC COM 866674104 3,031 29,852 SH   DFND 1 29,852 0 0
TAUBMAN CTRS INC COM 876664103 1,487 24,850 SH   DFND 1 24,850 0 0
THERMO FISHER CORP COM 883556102 32,365 132,600 SH   DFND 1 132,600 0 0
TOLL BROS INC COM 889478103 9,919 300,300 SH   DFND 1 300,300 0 0
UDR INC COM 902653104 4,467 110,485 SH   DFND 1 110,485 0 0
UNITED PARCEL SVC INC CL B 911312106 14,302 122,500 SH   DFND 1 122,500 0 0
UNITED STS STL CORP NEW COM 912909108 9,095 298,400 SH   DFND 1 298,400 0 0
UNITED TECHNOLOGIES CORP COM 913017109 24,858 177,800 SH   DFND 1 177,800 0 0
UNITEDHEALTH GROUP INC COM 91324P102 38,789 145,800 SH   DFND 1 145,800 0 0
VENTAS INC COM 92276F100 3,565 65,553 SH   DFND 1 65,553 0 0
VICI PPTYS INC COM 925652109 2,270 105,000 SH   DFND 1 105,000 0 0
VISA INC COM CL A 92826C839 38,798 258,500 SH   DFND 1 258,500 0 0
VORNADO RLTY TR COM 929042109 2,748 37,650 SH   DFND 1 37,650 0 0
WELLTOWER INC COM 95040Q104 7,377 114,695 SH   DFND 1 114,695 0 0
WESTN DIGITAL CORP COM 958102105 6,422 109,700 SH   DFND 1 109,700 0 0
XILINX INC COM 983919101 10,085 125,800 SH   DFND 1 125,800 0 0