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
ABERCROMBIE & FITCH CO CL A CL A 002896207 5,086 207,760 SH   SOLE   207,760 0 0
ALEXANDRIA REAL ESTATE EQ IN COM COM 015271109 2,230 17,675 SH   SOLE   17,675 0 0
ALLEGION PUB LTD CO ORD SHS SHS G0176J109 2,924 37,800 SH   SOLE   37,800 0 0
ALPHABET INC CAP STK CL C CAP STK CL C 02079K107 4,995 4,477 SH   SOLE   4,477 0 0
AMERICAN CAMPUS CMNTYS INC COM COM 024835100 2,060 48,048 SH   SOLE   48,048 0 0
AMERICAN EAGLE OUTFITTERS NE COM COM 02553E106 3,243 139,482 SH   SOLE   139,482 0 0
AMERICAN EQTY INVT LIFE HLD COM COM 025676206 5,570 154,736 SH   SOLE   154,736 0 0
AMERICAN HOMES 4 RENT CL A CL A 02665T306 1,225 55,278 SH   SOLE   55,278 0 0
APARTMENT INVT & MGMT CO CL A CL A 03748R101 2,781 65,770 SH   SOLE   65,770 0 0
APPLE HOSPITALITY REIT INC COM NEW COM NEW 03784Y200 1,994 111,532 SH   SOLE   111,532 0 0
APPLIED MATLS INC COM COM 038222105 3,577 77,448 SH   SOLE   77,448 0 0
ARES CAP CORP COM COM 04010L103 22,020 1,338,575 SH   SOLE   1,338,575 0 0
ARGO GROUP INTL HLDGS LTD COM COM G0464B107 4,165 71,620 SH   SOLE   71,620 0 0
ASHFORD HOSPITALITY TR INC COM SHS SHS 044103109 1,818 224,503 SH   SOLE   224,503 0 0
AVALONBAY CMNTYS INC COM COM 053484101 18,188 105,817 SH   SOLE   55,799 0 50,018
HOPE BANCORP INC COM COM 43940T109 4,574 256,536 SH   SOLE   256,536 0 0
BLACKROCK INC COM COM 09247X101 3,318 6,648 SH   SOLE   6,648 0 0
BOOKING HLDGS INC COM COM 09857L108 3,578 1,765 SH   SOLE   1,765 0 0
BOSTON PROPERTIES INC COM COM 101121101 14,783 117,868 SH   SOLE   76,700 0 41,168
BRANDYWINE RLTY TR SH BEN INT NEW SH BEN INT NEW 105368203 1,416 83,881 SH   SOLE   83,881 0 0
BRIXMOR PPTY GROUP INC COM COM 11120U105 3,471 199,170 SH   SOLE   199,170 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN UNIT LTD PARTN G16249107 12,298 492,523 SH   SOLE   492,523 0 0
BRUNSWICK CORP COM COM 117043109 10,667 165,424 SH   SOLE   165,424 0 0
CABOT CORP COM COM 127055101 2,899 46,930 SH   SOLE   46,930 0 0
CAMDEN PPTY TR SH BEN INT SH BEN INT 133131102 3,084 33,845 SH   SOLE   33,845 0 0
CDN IMPERIAL BK COMM TORONTO COM COM 136069101 29,796 260,550 SH   SOLE   260,550 0 0
CAPELLA EDUCATION COMPANY COM COM 139594105 4,959 50,240 SH   SOLE   50,240 0 0
CARDINAL HEALTH INC COM COM 14149Y108 20,573 421,300 SH   SOLE   421,300 0 0
CBL & ASSOC PPTYS INC COM COM 124830100 3,038 545,429 SH   SOLE   545,429 0 0
CISCO SYS INC COM COM 17275R102 25,265 587,167 SH   SOLE   587,167 0 0
COLUMBIA PPTY TR INC COM NEW COM NEW 198287203 1,423 62,675 SH   SOLE   62,675 0 0
COREPOINT LODGING INC COM COM 21872L104 588 22,691 SH   SOLE   22,691 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT SH BEN INT 22002T108 9,091 313,530 SH   SOLE   122,828 0 190,702
CUBESMART COM COM 229663109 27,755 861,436 SH   SOLE   861,436 0 0
DCT INDUSTRIAL TRUST INC COM NEW COM NEW 233153204 2,534 37,996 SH   SOLE   21,225 0 16,771
DDR CORP COM COM 23317H854 3,102 173,279 SH   SOLE   173,279 0 0
DEERE & CO COM COM 244199105 3,636 26,009 SH   SOLE   26,009 0 0
DEL FRISCOS RESTAURANT GROUP COM COM 245077102 5,467 433,896 SH   SOLE   433,896 0 0
DELEK US HLDGS INC NEW COM COM 24665A103 2,841 56,628 SH   SOLE   56,628 0 0
DIAMONDROCK HOSPITALITY CO COM COM 252784301 4,191 341,293 SH   SOLE   341,293 0 0
DIGITAL RLTY TR INC COM COM 253868103 11,064 99,155 SH   SOLE   61,908 0 37,247
DOUGLAS EMMETT INC COM COM 25960P109 1,745 43,437 SH   SOLE   43,437 0 0
DUKE REALTY CORP COM NEW COM NEW 264411505 2,678 92,263 SH   SOLE   92,263 0 0
EMPIRE ST RLTY TR INC CL A CL A 292104106 13,258 775,374 SH   SOLE   413,412 0 361,962
ENERSYS COM COM 29275Y102 8,638 115,727 SH   SOLE   115,727 0 0
EPR PPTYS COM SH BEN INT SH BEN INT 26884U109 1,770 27,311 SH   SOLE   27,311 0 0
EQUITY COMWLTH COM SH BEN INT SH BEN INT 294628102 1,225 38,890 SH   SOLE   38,890 0 0
EQUITY LIFESTYLE PPTYS INC COM COM 29472R108 1,686 18,346 SH   SOLE   18,346 0 0
EQUITY RESIDENTIAL SH BEN INT SH BEN INT 29476L107 13,185 207,016 SH   SOLE   207,016 0 0
ESSEX PPTY TR INC COM COM 297178105 12,911 54,004 SH   SOLE   25,812 0 28,192
LAUDER ESTEE COS INC CL A CL A 518439104 4,153 29,108 SH   SOLE   29,108 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B UNIT 99/99/9999B 30224P200 2,546 117,820 SH   SOLE   117,820 0 0
EXTRA SPACE STORAGE INC COM COM 30225T102 2,565 25,694 SH   SOLE   25,694 0 0
EXXON MOBIL CORP COM COM 30231G102 23,202 280,450 SH   SOLE   280,450 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW SH BEN INT NEW 313747206 3,586 28,323 SH   SOLE   22,123 0 6,200
FIRST SOLAR INC COM COM 336433107 9,185 174,420 SH   SOLE   174,420 0 0
FOREST CITY RLTY TR INC COM CL A CL A 345605109 1,620 70,999 SH   SOLE   70,999 0 0
GGP INC COM COM 36174X101 6,739 329,912 SH   SOLE   329,912 0 0
GILEAD SCIENCES INC COM COM 375558103 22,902 323,300 SH   SOLE   323,300 0 0
GRAMERCY PPTY TR COM NEW COM NEW 385002308 1,081 39,569 SH   SOLE   39,569 0 0
HCP INC COM COM 40414L109 10,676 413,487 SH   SOLE   327,406 0 86,081
HEALTHCARE RLTY TR COM COM 421946104 11,381 391,348 SH   SOLE   234,648 0 156,700
HEALTHCARE TR AMER INC CL A NEW CL A NEW 42225P501 12,184 451,908 SH   SOLE   168,968 0 282,940
HIGHWOODS PPTYS INC COM COM 431284108 1,889 37,217 SH   SOLE   37,217 0 0
HOST HOTELS & RESORTS INC COM COM 44107P104 10,602 503,157 SH   SOLE   168,351 0 334,806
HUDSON PAC PPTYS INC COM COM 444097109 3,753 105,937 SH   SOLE   51,826 0 54,111
INTEL CORP COM COM 458140100 2,796 56,243 SH   SOLE   56,243 0 0
INVESCO LTD SHS SHS G491BT108 22,113 832,600 SH   SOLE   832,600 0 0
INVITATION HOMES INC COM COM 46187W107 1,953 84,700 SH   SOLE   84,700 0 0
IQVIA HLDGS INC COM COM 46266C105 2,994 29,994 SH   SOLE   29,994 0 0
JABIL INC COM COM 466313103 5,876 212,451 SH   SOLE   212,451 0 0
JPMORGAN CHASE & CO COM COM 46625H100 3,707 35,574 SH   SOLE   35,574 0 0
KAISER ALUMINUM CORP COM PAR $0.01 COM PAR $0.01 483007704 2,799 26,884 SH   SOLE   26,884 0 0
KILROY RLTY CORP COM COM 49427F108 1,605 21,221 SH   SOLE   21,221 0 0
KIMCO RLTY CORP COM COM 49446R109 4,410 259,563 SH   SOLE   259,563 0 0
L BRANDS INC COM COM 501797104 22,685 615,100 SH   SOLE   615,100 0 0
LEXINGTON REALTY TRUST COM COM 529043101 1,440 164,931 SH   SOLE   164,931 0 0
LHC GROUP INC COM COM 50187A107 12,891 150,613 SH   SOLE   150,613 0 0
LIBERTY PPTY TR SH BEN INT SH BEN INT 531172104 2,437 54,984 SH   SOLE   54,984 0 0
LIFE STORAGE INC COM COM 53223X107 1,070 11,000 SH   SOLE   11,000 0 0
LUXFER HOLDINGS PLC SHS SHS G5698W116 11,467 656,035 SH   SOLE   656,035 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - SHS - A - N53745100 27,890 253,895 SH   SOLE   253,895 0 0
MACK CALI RLTY CORP COM COM 554489104 1,409 69,453 SH   SOLE   69,453 0 0
MARSH & MCLENNAN COS INC COM COM 571748102 3,590 43,792 SH   SOLE   43,792 0 0
MASTERCARD INCORPORATED CL A CL A 57636Q104 4,041 20,564 SH   SOLE   20,564 0 0
MRC GLOBAL INC COM COM 55345K103 7,047 325,203 SH   SOLE   325,203 0 0
MEDICAL PPTYS TRUST INC COM COM 58463J304 1,419 101,055 SH   SOLE   101,055 0 0
MERCK & CO INC COM COM 58933Y105 22,222 366,100 SH   SOLE   366,100 0 0
MICROSOFT CORP COM COM 594918104 4,396 44,580 SH   SOLE   44,580 0 0
MID AMER APT CMNTYS INC COM COM 59522J103 12,276 121,942 SH   SOLE   57,297 0 64,645
NATIONAL RETAIL PPTYS INC COM COM 637417106 8,485 192,991 SH   SOLE   90,401 0 102,590
NEW YORK CMNTY BANCORP INC COM COM 649445103 12,022 1,088,982 SH   SOLE   1,088,982 0 0
NIKE INC CL B CL B 654106103 4,459 55,963 SH   SOLE   55,963 0 0
OMEGA HEALTHCARE INVS INC COM COM 681936100 2,895 93,399 SH   SOLE   93,399 0 0
OMNICOM GROUP INC COM COM 681919106 22,542 295,550 SH   SOLE   295,550 0 0
PARAMOUNT GROUP INC COM COM 69924R108 1,342 87,154 SH   SOLE   87,154 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT SH BEN INT 709102107 755 68,700 SH   SOLE   0 0 68,700
PEPSICO INC COM COM 713448108 25,550 234,687 SH   SOLE   234,687 0 0
PLDT INC SPONSORED ADR SPONSORED ADR 69344D408 12,393 530,070 SH   SOLE   530,070 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A CL A 720190206 1,569 78,725 SH   SOLE   78,725 0 0
PPG INDS INC COM COM 693506107 2,804 27,032 SH   SOLE   27,032 0 0
PPL CORP COM COM 69351T106 23,343 817,650 SH   SOLE   817,650 0 0
PROCTER AND GAMBLE CO COM COM 742718109 1,924 24,651 SH   SOLE   24,651 0 0
PROLOGIS INC COM COM 74340W103 24,455 372,283 SH   SOLE   190,454 0 181,829
PRUDENTIAL FINL INC COM COM 744320102 22,904 244,942 SH   SOLE   244,942 0 0
PS BUSINESS PKS INC CALIF COM COM 69360J107 1,505 11,705 SH   SOLE   8,705 0 3,000
PUBLIC SVC ENTERPRISE GROUP COM COM 744573106 12,930 238,826 SH   SOLE   238,826 0 0
PUBLIC STORAGE COM COM 74460D109 23,073 101,710 SH   SOLE   58,467 0 43,243
REALTY INCOME CORP COM COM 756109104 4,037 75,044 SH   SOLE   75,044 0 0
REDWOOD TR INC COM COM 758075402 12,521 760,234 SH   SOLE   760,234 0 0
REGENCY CTRS CORP COM COM 758849103 13,424 216,237 SH   SOLE   85,931 0 130,306
RENAISSANCERE HOLDINGS LTD COM COM G7496G103 7,281 60,510 SH   SOLE   60,510 0 0
RETAIL PPTYS AMER INC CL A CL A 76131V202 24,775 1,938,537 SH   SOLE   1,902,737 0 35,800
RLJ LODGING TR COM COM 74965L101 1,980 89,815 SH   SOLE   89,815 0 0
SANDERSON FARMS INC COM COM 800013104 3,838 36,500 SH   SOLE   36,500 0 0
SENIOR HSG PPTYS TR SH BEN INT SH BEN INT 81721M109 3,030 167,523 SH   SOLE   167,523 0 0
SIMON PPTY GROUP INC NEW COM COM 828806109 58,976 346,523 SH   SOLE   266,946 0 79,577
SK TELECOM LTD SPONSORED ADR SPONSORED ADR 78440P108 28,443 1,219,700 SH   SOLE   1,219,700 0 0
SL GREEN RLTY CORP COM COM 78440X101 3,613 35,939 SH   SOLE   35,939 0 0
SLEEP NUMBER CORP COM COM 83125X103 6,165 212,448 SH   SOLE   212,448 0 0
SPIRIT AIRLS INC COM COM 848577102 9,189 252,781 SH   SOLE   252,781 0 0
STORE CAP CORP COM COM 862121100 992 36,200 SH   SOLE   36,200 0 0
SUN CMNTYS INC COM COM 866674104 3,661 37,407 SH   SOLE   21,407 0 16,000
SUN LIFE FINL INC COM COM 866796105 29,136 551,506 SH   SOLE   551,506 0 0
SUNSTONE HOTEL INVS INC NEW COM COM 867892101 1,456 87,600 SH   SOLE   30,800 0 56,800
SYNAPTICS INC COM COM 87157D109 8,382 166,417 SH   SOLE   166,417 0 0
SYSCO CORP COM COM 871829107 3,311 48,478 SH   SOLE   48,478 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR SPONSORED ADR 874039100 24,369 666,552 SH   SOLE   666,552 0 0
TANGER FACTORY OUTLET CTRS I COM COM 875465106 1,341 57,098 SH   SOLE   57,098 0 0
TAUBMAN CTRS INC COM COM 876664103 2,265 38,538 SH   SOLE   38,538 0 0
TECH DATA CORP COM COM 878237106 4,360 53,091 SH   SOLE   53,091 0 0
TELEFONICA BRASIL SA SPONSORED ADR SPONSORED ADR 87936R106 21,497 1,811,024 SH   SOLE   1,811,024 0 0
TENNECO INC COM COM 880349105 5,266 119,787 SH   SOLE   119,787 0 0
TERADYNE INC COM COM 880770102 6,505 170,861 SH   SOLE   170,861 0 0
MACERICH CO COM COM 554382101 4,659 81,978 SH   SOLE   81,978 0 0
THERMON GROUP HLDGS INC COM COM 88362T103 11,303 494,233 SH   SOLE   494,233 0 0
TRINITY INDS INC COM COM 896522109 11,389 332,418 SH   SOLE   332,418 0 0
TRITON INTL LTD CL A CL A G9078F107 20,141 656,939 SH   SOLE   656,939 0 0
TWO HBRS INVT CORP COM NEW COM NEW 90187B408 22,036 1,394,706 SH   SOLE   1,394,706 0 0
U S SILICA HLDGS INC COM COM 90346E103 5,934 230,983 SH   SOLE   230,983 0 0
UBIQUITI NETWORKS INC COM COM 90347A100 4,530 53,468 SH   SOLE   53,468 0 0
UDR INC COM COM 902653104 2,865 76,337 SH   SOLE   76,337 0 0
VALIDUS HOLDINGS LTD COM SHS SHS G9319H102 1,663 24,600 SH   SOLE   24,600 0 0
VAREX IMAGING CORP COM COM 92214X106 5,276 142,257 SH   SOLE   142,257 0 0
VENTAS INC COM COM 92276F100 12,660 222,309 SH   SOLE   177,009 0 45,300
VEREIT INC COM COM 92339V100 11,112 1,493,492 SH   SOLE   439,100 0 1,054,392
VERIZON COMMUNICATIONS INC COM COM 92343V104 30,931 614,805 SH   SOLE   614,805 0 0
VISA INC COM CL A CL A 92826C839 2,236 16,885 SH   SOLE   16,885 0 0
VORNADO RLTY TR SH BEN INT SH BEN INT 929042109 6,610 89,418 SH   SOLE   89,418 0 0
WASHINGTON PRIME GROUP NEW COM COM 93964W108 3,379 416,658 SH   SOLE   416,658 0 0
WEINGARTEN RLTY INVS SH BEN INT SH BEN INT 948741103 1,922 62,376 SH   SOLE   62,376 0 0
WELLTOWER INC COM COM 95040Q104 13,565 216,372 SH   SOLE   181,587 0 34,785
WOLVERINE WORLD WIDE INC COM COM 978097103 2,653 76,300 SH   SOLE   76,300 0 0
W P CAREY INC COM COM 92936U109 2,586 38,963 SH   SOLE   38,963 0 0