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
Expires: July 31, 2015
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
ALEXANDRIA REAL ESTATE ARE 015271109 2,674,210 50,600 SH SOLE 50,600 0 0
AMERICAN TOWER AMT 03027X100 2,846,118 17,400 SH SOLE 17,400 0 0
AVALONBAY COMMUNITIES AVB 053484101 4,773,857 25,300 SH SOLE 25,300 0 0
BLACKSTONE DIG INFRA TRUST BXDC 09264B107 3,138,513 145,100 SH SOLE 145,100 0 0
BOSTON PROPERTIES BXP 101121101 3,395,072 51,200 SH SOLE 51,200 0 0
BROADSTONE NET LEASE BNL 11135E203 2,817,321 136,300 SH SOLE 136,300 0 0
CARETRUST REIT CTRE 14174T107 4,995,330 123,800 SH SOLE 123,800 0 0
COUSINS PROPERTIES CUZ 222795502 3,723,516 124,200 SH SOLE 124,200 0 0
CUBESMART CUBE 229663109 3,670,771 92,300 SH SOLE 92,300 0 0
CURBLINE CURB 23128Q101 3,617,600 119,000 SH SOLE 119,000 0 0
DIGITAL REALTY TRUST DLR 253868103 4,525,416 25,200 SH SOLE 25,200 0 0
EQUINIX EQIX 29444U700 14,588,248 13,995 SH SOLE 13,995 0 0
EQUITY LIFESTYLE PPTYS ELS 29472R108 5,690,935 88,300 SH SOLE 88,300 0 0
ESSENTIAL PROP RLTY TR EPRT 29670E107 3,310,365 110,900 SH SOLE 110,900 0 0
ESSEX PROPERTY TRUST ESS 297178105 7,056,478 24,200 SH SOLE 24,200 0 0
HEALTHPEAK DOC 42250P103 3,379,060 157,900 SH SOLE 157,900 0 0
HOST HOTELS RESORTS HST 44107P104 5,960,694 251,400 SH SOLE 251,400 0 0
INVENTRUST PROPERTIES IVT 46124J201 4,400,220 124,300 SH SOLE 124,300 0 0
INVITATION HOMES INVH 46187W107 4,811,728 159,276 SH SOLE 159,276 0 0
MACERICH CO MAC 554382101 7,237,087 287,300 SH SOLE 287,300 0 0
PROLOGIS PLD 74340W103 13,434,153 99,167 SH SOLE 99,167 0 0
PUBLIC STORAGE PSA 74460D109 5,888,735 18,500 SH SOLE 18,500 0 0
REALTY INCOME CORP O 756109104 1,672,920 27,000 SH SOLE 27,000 0 0
SABRA HEALTH CARE REIT SBRA 78573L106 4,994,560 256,000 SH SOLE 256,000 0 0
SIMON PROPERTY GROUP SPG 828806109 8,386,651 37,499 SH SOLE 37,499 0 0
TERRENO REALTY CORP TRNO 88146M101 4,786,503 73,900 SH SOLE 73,900 0 0
VICI PROPERTIES VICI 925652109 4,531,103 170,663 SH SOLE 170,663 0 0
WELLTOWER INC WELL 95040Q104 15,297,778 67,400 SH SOLE 67,400 0 0
WP CAREY WPC 92936U109 2,338,050 32,700 SH SOLE 32,700 0 0
ALEXANDRIA REAL ESTATE ARE 015271109 868,590 16,435 SH DFND 1 0 16,435 0
AMERICAN TOWER AMT 03027X100 1,003,829 6,137 SH DFND 1 0 6,137 0
AVALONBAY COMMUNITIES AVB 053484101 1,628,206 8,629 SH DFND 1 0 8,629 0
BLACKSTONE DIG INFRA TRUST BXDC 09264B107 1,072,199 49,570 SH DFND 1 0 49,570 0
BOSTON PROPERTIES BXP 101121101 1,112,284 16,774 SH DFND 1 0 16,774 0
BROADSTONE NET LEASE BNL 11135E203 1,099,003 53,169 SH DFND 1 0 53,169 0
CARETRUST REIT CTRE 14174T107 1,743,120 43,200 SH DFND 1 0 43,200 0
COUSINS PROPERTIES CUZ 222795502 1,184,480 39,509 SH DFND 1 0 39,509 0
CUBESMART CUBE 229663109 1,276,935 32,108 SH DFND 1 0 32,108 0
CURBLINE CURB 23128Q101 1,246,978 41,019 SH DFND 1 0 41,019 0
DIGITAL REALTY TRUST DLR 253868103 1,542,233 8,588 SH DFND 1 0 8,588 0
EQUINIX EQIX 29444U700 4,956,564 4,755 SH DFND 1 0 4,755 0
EQUITY LIFESTYLE PPTYS ELS 29472R108 1,906,302 29,578 SH DFND 1 0 29,578 0
ESSENTIAL PROP RLTY TR EPRT 29670E107 1,152,240 38,601 SH DFND 1 0 38,601 0
ESSEX PROPERTY TRUST ESS 297178105 2,422,238 8,307 SH DFND 1 0 8,307 0
HEALTHPEAK DOC 42250P103 1,019,710 47,650 SH DFND 1 0 47,650 0
HOST HOTELS RESORTS HST 44107P104 1,985,784 83,753 SH DFND 1 0 83,753 0
INVENTRUST PROPERTIES IVT 46124J201 1,552,644 43,860 SH DFND 1 0 43,860 0
INVITATION HOMES INVH 46187W107 1,649,859 54,613 SH DFND 1 0 54,613 0
MACERICH CO MAC 554382101 2,615,327 103,824 SH DFND 1 0 103,824 0
PROLOGIS PLD 74340W103 4,678,727 34,537 SH DFND 1 0 34,537 0
PUBLIC STORAGE PSA 74460D109 2,015,221 6,331 SH DFND 1 0 6,331 0
REALTY INCOME CORP O 756109104 0 0 SH DFND 1 0 0 0
SABRA HEALTH CARE REIT SBRA 78573L106 1,702,599 87,268 SH DFND 1 0 87,268 0
SIMON PROPERTY GROUP SPG 828806109 2,836,329 12,682 SH DFND 1 0 12,682 0
TERRENO REALTY CORP TRNO 88146M101 1,674,693 25,856 SH DFND 1 0 25,856 0
VICI PROPERTIES VICI 925652109 1,570,990 59,171 SH DFND 1 0 59,171 0
WELLTOWER INC WELL 95040Q104 5,260,711 23,178 SH DFND 1 0 23,178 0
WP CAREY WPC 92936U109 1,277,705 17,870 SH DFND 1 0 17,870 0