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
WELLTOWER INC COM 95040Q104 24,788,559 107,664 SH DFND 0 0 107,664
SIMON PPTY GROUP INC NEW COM 828806109 24,437,712 121,726 SH DFND 0 0 121,726
EQUINIX INC COM 29444U700 24,189,913 23,913 SH DFND 0 0 23,913
DIGITAL RLTY TR INC COM 253868103 23,969,850 136,557 SH DFND 0 0 136,557
PROLOGIS INC. COM 74340W103 23,819,927 183,456 SH DFND 0 0 183,456
AMERICAN TOWER CORP COM 03027X100 23,661,062 144,548 SH DFND 0 0 144,548
VIVMARK RESIDENTIAL SH BEN INT 29476L107 21,951,434 361,281 SH DFND 0 0 361,281
VENTAS INC COM 92276F100 21,370,797 251,362 SH DFND 0 0 251,362
IRON MTN INC DEL COM 46284V101 16,674,343 150,287 SH DFND 0 0 150,287
EXTRA SPACE STORAGE INC COM 30225T102 14,022,911 106,630 SH DFND 0 0 106,630
ESSEX PPTY TR INC COM 297178105 8,727,158 32,396 SH DFND 0 0 32,396
HOST HOTELS & RESORTS INC COM 44107P104 7,810,998 348,861 SH DFND 0 0 348,861
KIMCO REALTY CORP COM 49446R109 7,603,327 342,338 SH DFND 0 0 342,338
HEALTHPEAK PROPERTIES INC COM 42250P103 6,966,115 348,829 SH DFND 0 0 348,829
MID-AMER APT CMNTYS INC COM 59522J103 6,847,170 58,155 SH DFND 0 0 58,155
REGENCY CTRS CORP COM 758849103 6,073,429 84,494 SH DFND 0 0 84,494
OMEGA HEALTHCARE INVS INC COM 681936100 5,790,510 125,038 SH DFND 0 0 125,038
EQUITY LIFESTYLE PROPERTIES COM 29472R108 5,389,692 92,400 SH DFND 0 0 92,400
UDR INC COM 902653104 4,919,034 146,618 SH DFND 0 0 146,618
BXP INC COM 101121101 4,675,709 76,513 SH DFND 0 0 76,513
CAMDEN PPTY TR SH BEN INT 133131102 4,581,230 47,361 SH DFND 0 0 47,361
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101 4,288,176 39,599 SH DFND 0 0 39,599
REXFORD INDL RLTY INC COM 76169C100 4,132,023 113,924 SH DFND 0 0 113,924
BRIXMOR PPTY GROUP INC COM 11120U105 4,058,828 147,059 SH DFND 0 0 147,059
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 3,712,986 78,234 SH DFND 0 0 78,234
STAG INDUSTRIAL INC COM 85254J102 3,433,212 95,873 SH DFND 0 0 95,873
CARETRUST REIT INC COM 14174T107 3,300,613 90,230 SH DFND 0 0 90,230
MACERICH CO COM 554382101 3,153,028 141,012 SH DFND 0 0 141,012
VORNADO RLTY TR SH BEN INT 929042109 2,799,064 82,617 SH DFND 0 0 82,617
KITE REALTY GROUP TRUST COM NEW 49803T300 2,449,829 100,444 SH DFND 0 0 100,444
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201 2,370,119 63,474 SH DFND 0 0 63,474
COUSINS PPTYS INC COM NEW 222795502 2,316,370 83,805 SH DFND 0 0 83,805
AMERICOLD REALTY TRUST INC COM 03064D108 2,017,062 144,282 SH DFND 0 0 144,282
HEALTHCARE RLTY TR CL A COM 42226K105 1,835,451 103,464 SH DFND 0 0 103,464
KILROY REALTY CORP COM 49427F108 1,777,982 53,441 SH DFND 0 0 53,441
SL GREEN RLTY CORP COM 78440X887 1,739,106 35,550 SH DFND 0 0 35,550
SABRA HEALTH CARE REIT INC COM 78573L106 1,370,717 69,509 SH DFND 0 0 69,509
DIAMONDROCK HOSPITALITY CO COM 252784301 1,301,335 105,286 SH DFND 0 0 105,286
URBAN EDGE PPTYS COM 91704F104 1,122,370 57,469 SH DFND 0 0 57,469
UMH PPTYS INC COM 903002103 630,522 40,943 SH DFND 0 0 40,943
AMERICAN ASSETS TR INC COM 024013104 501,396 23,584 SH DFND 0 0 23,584
CENTERSPACE COM 15202L107 420,947 7,738 SH DFND 0 0 7,738
JBG SMITH PPTYS COM 46590V100 314,965 31,371 SH DFND 0 0 31,371
EMPIRE ST RLTY TR INC CL A 292104106 238,133 59,090 SH DFND 0 0 59,090
PARK HOTELS & RESORTS INC COM 700517105 250,529 16,247 SH DFND 0 0 16,247
HUDSON PACIFIC PROPERTIES IN COM 444097406 221,822 19,222 SH DFND 0 0 19,222
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 202,944 72,480 SH DFND 0 0 72,480