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
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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
ACADIA RLTY TR COM 004239109 1,854 67,970 SH   DFND 1 67,970 0 0
AGREE RLTY CORP COM 008492100 1,646 23,745 SH   DFND 1 23,745 0 0
ALEXANDRIA REAL ESTATE EQUITIES INC COM 015271109 6,063 42,529 SH   DFND 1 42,529 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 2,080 43,710 SH   DFND 1 43,710 0 0
AMERICAN HOMES 4 RENT COM 02665T306 2,676 117,789 SH   DFND 1 117,789 0 0
AMERICAN TOWER CORP COM 03027X100 2,194 11,135 SH   DFND 1 11,135 0 0
ANTERO RES CORP C COM 03674X106 409 46,320 SH   DFND 1 46,320 0 0
APARTMENT INVESTMENT & MANAGEMENT CO CL A 03748R754 3,451 68,619 SH   DFND 1 68,619 0 0
AVALONBAY CMNTYS INC COM 053484101 6,878 34,263 SH   DFND 1 34,263 0 0
BSTN PPTYS INC COM 101121101 7,042 52,601 SH   DFND 1 52,601 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 1,814 98,770 SH   DFND 1 98,770 0 0
CARETRUST REIT INC COM 14174T107 1,836 78,270 SH   DFND 1 78,270 0 0
CONTURA ENERGY INC COM 21241B100 248 4,285 SH   DFND 1 4,285 0 0
COUSINS PPTYS INC COM 222795106 2,901 300,340 SH   DFND 1 300,340 0 0
CYRUSONE INC COM 23283R100 2,461 46,931 SH   DFND 1 46,931 0 0
DIGITAL RLTY TR INC COM 253868103 7,906 66,440 SH   DFND 1 66,440 0 0
DOUGLAS EMMETT INC COM 25960P109 3,061 75,724 SH   DFND 1 75,724 0 0
DUKE RLTY CORP COM NEW 264411505 4,977 162,755 SH   DFND 1 162,755 0 0
EPR PPTYS COM SH BEN INT 26884U109 2,478 32,219 SH   DFND 1 32,219 0 0
EASTGROUP PPTYS INC COM 277276101 3,243 29,050 SH   DFND 1 29,050 0 0
EQUINIX INC COM 29444U700 11,330 25,003 SH   DFND 1 25,003 0 0
EQTY LIFESTYLE PPTYS INC COM 29472R108 3,590 31,408 SH   DFND 1 31,408 0 0
EQTY RESDNTL SH BEN INT 29476L107 8,932 118,584 SH   DFND 1 118,584 0 0
ESSEX PPTY TR INC COM 297178105 7,224 24,977 SH   DFND 1 24,977 0 0
EXTRA SPACE STORAGE INC COM 30225T102 4,700 46,123 SH   DFND 1 46,123 0 0
FEDERAL RLTY INVT TR SH BEN INT NEW 313747206 4,575 33,185 SH   DFND 1 33,185 0 0
GEO GROUP INC NEW COM 36162J106 1,322 68,840 SH   DFND 1 68,840 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 3,353 86,942 SH   DFND 1 86,942 0 0
HCP INC COM 40414L109 5,129 163,881 SH   DFND 1 163,881 0 0
HEMISPHERE MEDIA GROUP INC CL A 42365Q103 13,126 930,913 SH   DFND 1 930,913 0 0
HOST HOTELS & RESORTS INC COM 44107P104 5,262 278,413 SH   DFND 1 278,413 0 0
INVITATION HOMES INC COM 46187W107 2,505 102,965 SH   DFND 1 102,965 0 0
IRON MTN INC NEW COM 46284V101 1,651 46,566 SH   DFND 1 46,566 0 0
KILROY RLTY CORP COM 49427F108 3,529 46,454 SH   DFND 1 46,454 0 0
KIMCO RLTY CORP COM 49446R109 2,586 139,810 SH   DFND 1 139,810 0 0
MACERICH CO COM 554382101 955 22,034 SH   DFND 1 22,034 0 0
MEDICAL PPTYS TR INC COM 58463J304 2,977 160,850 SH   DFND 1 160,850 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 2,839 51,261 SH   DFND 1 51,261 0 0
NATIONAL STORAGE AFFILIATES TR COM SHS BEN IN 637870106 1,453 50,955 SH   DFND 1 50,955 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 3,194 83,730 SH   DFND 1 83,730 0 0
PARK HOTELS & RESORTS INC COM 700517105 3,649 117,400 SH   DFND 1 117,400 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 2,928 94,255 SH   DFND 1 94,255 0 0
PROLOGIS INC COM 74340W103 14,410 200,273 SH   DFND 1 200,273 0 0
PUB STORAGE COM 74460D109 8,209 37,696 SH   DFND 1 37,696 0 0
REALTY INCOME CORP COM 756109104 6,543 88,953 SH   DFND 1 88,953 0 0
REGENCY CTRS CORP COM 758849103 4,093 60,649 SH   DFND 1 60,649 0 0
REXFORD INDL RLTY INC COM 76169C100 3,018 84,269 SH   DFND 1 84,269 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 2,779 33,790 SH   DFND 1 33,790 0 0
SL GREEN RLTY CORP COM 78440X101 1,100 12,235 SH   DFND 1 12,235 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,567 80,465 SH   DFND 1 80,465 0 0
SIMON PROPERTY GROUP INC COM 828806109 16,819 92,308 SH   DFND 1 92,308 0 0
STORE CAPITAL CORPORATION COM 862121100 2,795 83,420 SH   DFND 1 83,420 0 0
SUN COMMUNITIES INC COM 866674104 4,129 34,837 SH   DFND 1 34,837 0 0
TAUBMAN CTRS INC COM 876664103 1,997 37,770 SH   DFND 1 37,770 0 0
UDR INC COM 902653104 5,023 110,485 SH   DFND 1 110,485 0 0
VENTAS INC COM 92276F100 4,183 65,553 SH   DFND 1 65,553 0 0
VEREIT INC COM 92339V100 984 117,575 SH   DFND 1 117,575 0 0
VICI PPTYS INC COM 925652109 3,717 169,900 SH   DFND 1 169,900 0 0
VORNADO RLTY TR COM 929042109 2,226 33,000 SH   DFND 1 33,000 0 0
W P CAREY INC COM 92936U109 1,900 24,250 SH   DFND 1 24,250 0 0
WELLTOWER INC COM 95040Q104 8,900 114,695 SH   DFND 1 114,695 0 0