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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AcadiaRealtyTrust COM 004239109   8,866,826 521,885 SH   DFND 2 297,295 0 224,590
AESCorporation COM 00130H105   60,999,150 3,168,787 SH   DFND 1,2 2,546,091 0 622,696
AgreeRealtyCorp COM 008492100   9,555,747 151,799 SH   DFND 1 115,498 0 36,301
AlerianMLPETF COM 00162Q452   6,845,337 160,991 SH   SOLE   160,991 0 0
AlexandriaRealEstateEquitie COM 015271109   122,197,913 963,934 SH   DFND 1,2 761,783 0 202,151
ALLETE,Inc. COM 018522300   34,267,642 560,295 SH   DFND 1,2 558,389 0 1,906
AlliantEnergyCorporation COM 018802108   5,705,022 111,209 SH   DFND 2 31,332 0 79,877
AmerenCorp. COM 023608102   2,665,006 36,840 SH   SOLE   7,590 0 29,250
AmericanHomes4Rent COM 02665T306   4,806,270 133,656 SH   SOLE   0 0 133,656
AmericanTowerCorp. COM 03027X100   174,475,080 808,204 SH   DFND 1,2 662,764 0 145,440
AmericanWaterWorksCo. COM 030420103   478,464 3,625 SH   SOLE   0 0 3,625
ApartmentIncomeREITCo COM 03750L109   89,144,964 2,566,800 SH   DFND 1,2 1,802,597 0 764,203
AtmosEnergyCorp. COM 049560105   583,557 5,035 SH   DFND 2 5,035 0 0
AvalonBayCommunitiesInc. COM 053484101   156,353,600 835,133 SH   DFND 1,2 604,299 0 230,834
BostonPropertiesInc. COM 101121101   6,812,735 97,089 SH   SOLE   0 0 97,089
BrandywineRealtyTrustSBI COM 105368203   1,074,389 198,961 SH   SOLE   198,961 0 0
BrixmorPropertyGroup COM 11120U105   75,568,953 3,247,484 SH   DFND 1,2 2,660,382 0 587,102
BroadstoneNetLeaseInc COM 11135E203   49,258,395 2,860,534 SH   DFND 1,2 2,323,522 0 537,012
BrookfieldInfrastructurePart COM G16252101   15,743,772 499,961 SH   DFND 1 499,961 0 0
CamdenPropertyTrust COM 133131102   63,441,842 638,955 SH   DFND 1 399,834 0 239,121
Centerspace COM 15202L107   1,707,821 29,344 SH   SOLE   0 0 29,344
CheniereEnergyInc. COM 16411R208   58,899,218 345,025 SH   DFND 1 342,156 0 2,869
ChesapeakeUtilitiesCorporati COM 165303108   528,150 5,000 SH   DFND 2 5,000 0 0
ClearwayEnergyInc.ClassC COM 18539C204   16,283,984 593,656 SH   DFND 1 593,656 0 0
CMSEnergyCorporation COM 125896100   58,702,498 1,010,892 SH   DFND 1,2 780,495 0 230,397
ConstellationEnergyCorp COM 21037T109   25,687,513 219,758 SH   DFND 1 179,068 0 40,690
CrownCastleInc COM 22822V101   124,221,126 1,078,402 SH   DFND 1,2 1,015,712 0 62,690
CSXCorporation COM 126408103   95,463,394 2,753,487 SH   DFND 1,2 2,184,828 0 568,659
CubeSmart COM 229663109   141,259,690 3,047,674 SH   DFND 1,2 2,236,216 0 811,458
DigitalRealtyTrustInc. COM 253868103   8,835,446 65,652 SH   DFND 2 17,064 0 48,588
DominionEnergyInc. COM 25746U109   17,366,218 369,494 SH   DFND 1 369,494 0 0
DTEEnergyCo. COM 233331107   843,599 7,651 SH   DFND 2 7,651 0 0
DukeEnergyCorp. COM 26441C204   41,873,536 431,508 SH   DFND 1 342,712 0 88,796
ELMECommunities COM 939653101   6,773,553 463,942 SH   SOLE   91,502 0 372,440
EmpireStateRealtyTrustInc. COM 292104106   23,909,620 2,467,453 SH   DFND 1 1,985,297 0 482,156
EnbridgeInc COM 29250N105   1,245,283 34,572 SH   DFND 1,2 34,572 0 0
EnlinkMidstreamLLC COM 29336T100   359,279 29,546 SH   DFND 2 29,546 0 0
EnterpriseProductsPartnersL COM 293792107   23,232,795 881,700 SH   DFND 1 881,700 0 0
EquinixInc COM 29444U700   235,119,113 291,932 SH   DFND 1,2 233,599 0 58,333
EquityResidential COM 29476L107   4,306,398 70,412 SH   SOLE   0 0 70,412
EssentialUtilities COM 29670G102   3,791,137 101,503 SH   DFND 2 11,739 0 89,764
EssexPropertyTrustInc. COM 297178105   118,095,062 476,305 SH   DFND 1,2 337,081 0 139,224
EversourceEnergy COM 30040W108   37,077,241 600,733 SH   DFND 1,2 486,476 0 114,257
ExelonCorp. COM 30161N101   1,602,971 44,651 SH   SOLE   9,200 0 35,451
ExtraSpaceStorageInc. COM 30225T102   19,450,755 121,317 SH   SOLE   0 0 121,317
FederalRealtyInvestmentTrus COM 313745101   18,140,922 176,040 SH   SOLE   0 0 176,040
FourCornersPropertyTrust COM 35086T109   33,424,285 1,321,118 SH   DFND 1,2 958,577 0 362,541
HealthcareRealtyTrustInc COM 42226K105   11,485,863 666,620 SH   SOLE   666,620 0 0
HealthpeakPropertiesInc. COM 42250P103   93,135,874 4,703,832 SH   DFND 1 3,194,181 0 1,509,651
HighwoodsPropertiesInc. COM 431284108   22,463,237 978,364 SH   DFND 1,2 673,601 0 304,763
HiltonWorldwideHoldingsInc. COM 43300A203   24,069,567 132,185 SH   DFND 1 113,287 0 18,898
HostHotels&ResortsInc. COM 44107P104   66,590,106 3,420,139 SH   DFND 1,2 2,680,739 0 739,400
HudsonPacificProperties COM 444097109   4,232,615 454,631 SH   SOLE   454,631 0 0
HyattHotelsCorp.-ClA COM 448579102   5,026,132 38,541 SH   SOLE   38,541 0 0
IndependenceRealtyTrustInc COM 45378A106   6,399,990 418,300 SH   SOLE   418,300 0 0
InvitationHomesInc COM 46187W107   156,033,534 4,574,422 SH   DFND 1,2 3,282,044 0 1,292,378
KilroyRealtyCorp. COM 49427F108   46,585,350 1,169,311 SH   DFND 1,2 736,145 0 433,166
KinderMorganInc. COM 49456B101   43,393,218 2,459,933 SH   DFND 1,2 2,439,123 0 20,810
KiteRealtyGroupTrust COM 49803T300   8,431,957 368,852 SH   SOLE   346,849 0 22,003
MacerichCo. COM 554382101   35,718,213 2,314,855 SH   DFND 1 1,664,015 0 650,840
MarriottInternationalInc. COM 571903202   15,639,570 69,352 SH   SOLE   60,962 0 8,390
MedicalPropertiesTrust COM 58463J304   4,173,991 850,100 SH   DFND 1 850,100 0 0
Mid-AmericaApt.Comm. COM 59522J103   5,872,809 43,677 SH   SOLE   0 0 43,677
NationalStorageAffiliatesTr COM 637870106   13,107,340 316,068 SH   SOLE   316,068 0 0
NexteraEnergyInc COM 65339F101   134,958,692 2,221,908 SH   DFND 1,2 1,772,980 0 448,928
NextEraEnergyPartnersLP COM 65341B106   33,057,677 1,087,066 SH   DFND 1 953,397 0 133,669
NiSourceInc. COM 65473P105   27,056,043 1,019,060 SH   DFND 1 806,120 0 212,940
NNNREITInc. COM 637417106   13,188,514 305,998 SH   SOLE   259,794 0 46,204
OGEEnergyCorp. COM 670837103   51,974,059 1,487,949 SH   DFND 1 1,481,281 0 6,668
ONEOKInc. COM 682680103   1,332,705 18,979 SH   SOLE   18,979 0 0
ParkHotels&ResortsInc COM 700517105   50,640,858 3,309,860 SH   DFND 1,2 2,691,657 0 618,203
PembinaPipelineCorp COM 706327103   600,629 17,450 SH   DFND 1,2 17,450 0 0
PG&ECorp. COM 69331C108   48,807,553 2,707,019 SH   DFND 1 2,153,252 0 553,767
PiedmontOfficeRealtyTrustI COM 720190206   10,302,966 1,449,081 SH   SOLE   1,344,045 0 105,036
PlainsGPHoldings COM 72651A207   450,237 28,228 SH   DFND 2 28,228 0 0
PortlandGeneralElectricComp COM 736508847   17,459,562 402,851 SH   DFND 1,2 317,907 0 84,944
PPLCorp. COM 69351T106   62,714,251 2,314,179 SH   DFND 1,2 2,297,725 0 16,454
ProLogisInc. COM 74340W103   214,577,942 1,609,737 SH   DFND 1 899,173 0 710,564
PublicServiceEnterpriseGrou COM 744573106   19,671,955 321,700 SH   DFND 1 321,700 0 0
PublicStorage COM 74460D109   335,149,860 1,098,852 SH   DFND 1,2 839,548 0 259,304
RealtyIncomeCorp COM 756109104   124,707,799 2,171,853 SH   DFND 1,2 1,577,346 0 594,507
RegencyCentersCorporation COM 758849103   25,188,784 375,952 SH   SOLE   71,213 0 304,739
RetailOpportunityInvestments COM 76131N101   26,805,760 1,910,603 SH   DFND 1 1,383,996 0 526,607
RexfordIndustrialRealty,Inc COM 76169C100   180,976,917 3,225,970 SH   DFND 1,2 2,297,605 0 928,365
RymanHospitalityProperties COM 78377T107   29,143,888 264,800 SH   DFND 1,2 207,051 0 57,749
SBACommunicationsCorp. COM 78410G104   117,674,868 463,853 SH   DFND 1 372,265 0 91,588
SempraEnergy COM 816851109   87,884,797 1,176,031 SH   DFND 1 951,527 0 224,504
SimonPropertyGroupInc. COM 828806109   288,435,054 2,022,119 SH   DFND 1,2 1,616,969 0 405,150
SiteCentersCorp COM 82981J109   3,108,281 228,047 SH   SOLE   136,472 0 91,575
SouthernCo. COM 842587107   56,344,716 803,547 SH   DFND 1 623,346 0 180,201
SpiritRealtyCapitalInc. COM 84860W300   117,114,278 2,680,574 SH   DFND 1,2 1,888,729 0 791,845
STAGIndustrial,Inc. COM 85254J102   6,463,178 164,625 SH   SOLE   0 0 164,625
SunCommunitiesInc. COM 866674104   52,211,308 390,657 SH   DFND 1,2 339,202 0 51,455
SunstoneHotelInvestorsInc. COM 867892101   33,989,764 3,167,732 SH   DFND 1,2 2,890,407 0 277,325
TangerInc. COM 875465106   15,679,901 565,653 SH   DFND 2 334,747 0 230,906
TargaResourcesCorp. COM 87612G101   64,013,026 736,883 SH   DFND 1,2 730,780 0 6,103
TriconResidentialInc COM 89612W102   16,234,500 1,784,011 SH   DFND 1,2 1,568,088 0 215,923
UnionPacificCorp COM 907818108   55,661,176 226,615 SH   DFND 1 178,699 0 47,916
UnitiGroupInc COM 91325V108   7,946,344 1,374,800 SH   DFND 1 1,374,800 0 0
VentasInc. COM 92276F100   74,090,748 1,486,572 SH   DFND 1 932,587 0 553,985
VerisResidentialInc COM 554489104   12,029,675 764,760 SH   DFND 1 621,731 0 143,029
ViciPropertiesInc. COM 925652109   79,083,696 2,480,668 SH   DFND 1 1,678,069 0 802,599
VornadoRealtyTrust COM 929042109   28,468,457 1,007,733 SH   DFND 1 743,071 0 264,662
WECEnergyGroupInc. COM 92939U106   88,410,316 1,050,378 SH   DFND 1,2 837,855 0 212,523
WelltowerInc. COM 95040Q104   260,086,348 2,884,400 SH   DFND 1,2 1,908,822 0 975,578
WeyerhaeuserCo. COM 962166104   7,888,722 226,883 SH   DFND 1 226,883 0 0
WilliamsCos. COM 969457100   1,225,807 35,194 SH   SOLE   35,194 0 0
XcelEnergyInc. COM 98389B100   2,036,034 32,887 SH   DFND 2 7,160 0 25,727
AESCorporation UNIT 00130H204   25,205,304 331,300 SH   DFND 1 331,300 0 0
NexteraEnergyInc UNIT 65339F713   28,250,732 741,100 SH   DFND 1 741,100 0 0