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
AGREE RLTY CORP COM 008492100 23,083,625 302,617 SH DFND 1,2,3 0 302,617 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 370,079,243 6,981,310 SH DFND 1,2,3 0 6,981,310 0
AMERICAN HEALTHCARE REIT INC COM SHS 398182303 23,835,890 444,285 SH DFND 1,2,3 0 444,285 0
AMERICAN HOMES 4 RENT CL A 02665T306 27,664,596 820,421 SH DFND 1,2,3 0 820,421 0
AMERICOLD REALTY TRUST INC COM 03064D108 205,445,046 12,824,285 SH DFND 1,2,3 0 12,824,285 0
AVALONBAY CMNTYS INC COM 053484101 67,896,293 356,542 SH DFND 1,2,3 0 356,542 0
BRIXMOR PPTY GROUP INC COM 11120U105 30,176,706 966,273 SH DFND 1,2,3 0 966,273 0
BXP INC COM 101121101 489,913,609 7,230,130 SH DFND 1,2,3 0 7,230,130 0
CAMDEN PPTY TR SH BEN INT 133131102 30,607,453 264,633 SH DFND 1,2,3 0 264,633 0
CARETRUST REIT INC COM 14174T107 22,409,355 547,906 SH DFND 1,2,3 0 547,906 0
COUSINS PPTYS INC COM NEW 222795502 224,459,390 7,323,308 SH DFND 1,2,3 0 7,323,308 0
CUBESMART COM 229663109 22,518,107 561,129 SH DFND 1,2,3 0 561,129 0
DIGITAL RLTY TR INC COM 253868103 1,519,824,270 8,619,693 SH DFND 1,2,3 0 8,619,693 0
EASTGROUP PPTYS INC COM 277276101 26,343,670 128,218 SH DFND 1,2,3 0 128,218 0
EPR PPTYS COM SH BEN INT 26884U109 11,558,566 200,183 SH DFND 1,2,3 0 200,183 0
EQUINIX INC COM 29444U700 1,210,632,251 1,194,365 SH DFND 1,2,3 0 1,194,365 0
EQUITY LIFESTYLE PROPERTIES COM 29472R108 31,316,552 481,719 SH DFND 1,2,3 0 481,719 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 745,085,919 10,856,563 SH DFND 1,2,3 0 10,856,563 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 15,836,487 527,707 SH DFND 1,2,3 0 527,707 0
ESSEX PPTY TR INC COM 297178105 47,163,860 159,780 SH DFND 1,2,3 0 159,780 0
EXTRA SPACE STORAGE INC COM 30225T102 404,774,866 2,748,149 SH DFND 1,2,3 0 2,748,149 0
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101 32,495,769 269,876 SH DFND 1,2,3 0 269,876 0
FIRST INDL RLTY TR INC COM 32054K103 19,096,020 309,950 SH DFND 1,2,3 0 309,950 0
GAMING & LEISURE P COM 36467J108 31,742,970 726,550 SH DFND 1,2,3 0 726,550 0
HEALTHCARE RLTY TR CL A COM 42226K105 207,444,859 10,223,995 SH DFND 1,2,3 0 10,223,995 0
HEALTHPEAK PROPERTIES INC COM 42250P103 36,020,083 1,664,514 SH DFND 1,2,3 0 1,664,514 0
HOST HOTELS & RESORTS INC COM 44107P104 56,499,972 2,419,699 SH DFND 1,2,3 0 2,419,699 0
INDEPENDENCE RLTY TR INC COM 45378A106 10,274,807 598,765 SH DFND 1,2,3 0 598,765 0
INVESCO EXCH TRADED FD TR II SR LN ETF 46138G508 9,772,800 480,000 SH DFND 1,2,3 0 480,000 0
INVITATION HOMES INC COM 46187W107 484,849,262 15,975,264 SH DFND 1,2,3 0 15,975,264 0
IRON MTN INC DEL COM 46284V101 85,806,873 703,912 SH DFND 1,2,3 0 703,912 0
ISHARES TR IBOXX HI YD ETF 464288513 570,343,850 7,166,024 SH DFND 1,2,3 0 7,166,024 0
ISHARES TR IBOXX INV CP ETF 464287242 85,325,374 786,699 SH DFND 1,2,3 0 786,699 0
KILROY REALTY CORP COM 49427F108 184,110,583 4,701,496 SH DFND 1,2,3 0 4,701,496 0
KIMCO REALTY CORP COM 49446R109 370,052,415 14,754,881 SH DFND 1,2,3 0 14,754,881 0
KITE REALTY GROUP TRUST COM NEW 49803T300 19,586,274 691,850 SH DFND 1,2,3 0 691,850 0
LINEAGE INC COM 53566V106 7,392,777 169,598 SH DFND 1,2,3 0 169,598 0
MEDICAL PROPERTIES TRUST INC COM 58463J304 5,638,104 1,228,345 SH DFND 1,2,3 0 1,228,345 0
MID-AMER APT CMNTYS INC COM 59522J103 432,374,297 3,089,712 SH DFND 1,2,3 0 3,089,712 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 7,778,561 172,054 SH DFND 1,2,3 0 172,054 0
NNN REIT INC COM 637417106 23,301,300 500,350 SH DFND 1,2,3 0 500,350 0
OMEGA HEALTHCARE INVS INC COM 681936100 34,992,085 726,429 SH DFND 1,2,3 0 726,429 0
PARK HOTELS & RESORTS INC COM 700517105 9,818,506 692,908 SH DFND 1,2,3 0 692,908 0
PROLOGIS INC. COM 74340W103 2,638,438,344 19,286,830 SH DFND 1,2,3 0 19,286,830 0
PUBLIC STORAGE COM 74460D109 679,539,514 2,103,577 SH DFND 1,2,3 0 2,103,577 0
REALTY INCOME CORP COM 756109104 551,518,537 8,921,361 SH DFND 1,2,3 0 8,921,361 0
REGENCY CTRS CORP COM 758849103 205,885,145 2,593,992 SH DFND 1,2,3 0 2,593,992 0
REXFORD INDL RLTY INC COM 76169C100 19,036,761 564,554 SH DFND 1,2,3 0 564,554 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 26,930,824 215,740 SH DFND 1,2,3 0 215,740 0
SABRA HEALTH CARE REIT INC COM 78573L106 12,228,542 621,369 SH DFND 1,2,3 0 621,369 0
SIMON PPTY GROUP INC NEW COM 828806109 199,136,101 892,987 SH DFND 1,2,3 0 892,987 0
SL GREEN RLTY CORP COM 78440X887 13,105,758 250,972 SH DFND 1,2,3 0 250,972 0
STAG INDUSTRIAL INC COM 85254J102 17,332,402 452,071 SH DFND 1,2,3 0 452,071 0
SUN CMNTYS INC COM 866674104 37,085,257 307,048 SH DFND 1,2,3 0 307,048 0
TERRENO RLTY CORP COM 88146M101 16,184,134 245,177 SH DFND 1,2,3 0 245,177 0
UDR INC COM 902653104 33,643,231 828,243 SH DFND 1,2,3 0 828,243 0
VENTAS INC COM 92276F100 1,014,376,930 11,314,857 SH DFND 1,2,3 0 11,314,857 0
VICI PPTYS INC COM 925652109 74,805,427 2,847,561 SH DFND 1,2,3 0 2,847,561 0
VORNADO RLTY TR SH BEN INT 929042109 25,383,178 633,629 SH DFND 1,2,3 0 633,629 0
WELLTOWER INC COM 95040Q104 389,571,945 1,692,393 SH DFND 1,2,3 0 1,692,393 0
WP CAREY INC COM 92936U109 41,070,296 580,007 SH DFND 1,2,3 0 580,007 0