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
AMERICAN CAMPUS CMNTYS INC COM 024835100 24,999 647,300 SH   SOLE   647,300 0 0
AMERICOLD RLTY TR COM 03064D108 1,332 69,800 SH   SOLE   69,800 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 49,792 1,221,900 SH   SOLE   1,221,900 0 0
AVALONBAY CMNTYS INC COM 053484101 62,199 378,200 SH   SOLE   378,200 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 3,105 195,500 SH   SOLE   195,500 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 31,840 2,087,900 SH   SOLE   2,087,900 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 9,099 444,700 SH   SOLE   444,700 0 0
CUBESMART COM 229663109 49,787 1,765,500 SH   SOLE   1,765,500 0 0
DDR CORP COM 23317H102 1,477 201,500 SH   SOLE   201,500 0 0
DIGITAL RLTY TR INC COM 253868103 43,448 412,300 SH   SOLE   412,300 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,972 32,000 SH   SOLE   32,000 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 23,176 199,600 SH   SOLE   199,600 0 0
GGP INC COM 36174X101 29,139 1,424,200 SH   SOLE   1,424,200 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 47,613 1,800,100 SH   SOLE   1,800,100 0 0
HUDSON PAC PPTYS INC COM 444097109 66,364 2,040,100 SH   SOLE   2,040,100 0 0
INVITATION HOMES INC COM 46187W107 49,594 2,172,300 SH   SOLE   2,172,300 0 0
ISHARES TR U.S. REAL ES ETF 464287739 3,547 47,000 SH Put SOLE   47,000 0 0
KIMCO RLTY CORP COM 49446R109 1,320 91,700 SH   SOLE   91,700 0 0
KITE RLTY GROUP TR COM NEW 49803T300 1,654 108,600 SH   SOLE   108,600 0 0
MACERICH CO COM 554382101 1,955 34,900 SH   SOLE   34,900 0 0
PARAMOUNT GROUP INC COM 69924R108 52,094 3,658,300 SH   SOLE   3,658,300 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 20,239 2,097,300 SH   SOLE   2,097,300 0 0
PROLOGIS INC COM 74340W103 95,726 1,519,700 SH   SOLE   1,519,700 0 0
SIMON PPTY GROUP INC NEW COM 828806109 58,036 376,000 SH   SOLE   376,000 0 0
SL GREEN RLTY CORP COM 78440X101 4,861 50,200 SH   SOLE   50,200 0 0
VENTAS INC COM 92276F100 3,338 67,400 SH   SOLE   67,400 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 2,412 85,900 SH   SOLE   85,900 0 0
WELLTOWER INC COM 95040Q104 32,593 598,800 SH   SOLE   598,800 0 0