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
AGREE RLTY CORP COM 008492100   15,806,107 276,960 SH   SOLE   276,960 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   21,202,598 168,945 SH   SOLE   168,945 0 0
AMERICAN TOWER CORP NEW COM 03027X100   15,026,215 77,852 SH   SOLE   77,852 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   83,232 3,400 SH   SOLE   3,400 0 0
AVALONBAY CMNTYS INC COM 053484101   26,229,207 144,657 SH   SOLE   144,657 0 0
CARETRUST REIT INC COM 14174T107   20,047,280 827,033 SH   SOLE   827,033 0 0
CBRE GROUP INC CL A 12504L109   5,293,235 55,730 SH   SOLE   55,730 0 0
CROWN CASTLE INC COM 22822V101   3,033,966 29,100 SH   SOLE   29,100 0 0
CUBESMART COM 229663109   10,371,310 230,320 SH   SOLE   230,320 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301   83,952 8,800 SH   SOLE   8,800 0 0
DIGITAL RLTY TR INC COM 253868103   44,304,302 312,200 SH   SOLE   312,200 0 0
EQUINIX INC COM 29444U700   39,058,441 48,820 SH   SOLE   48,820 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108   82,264 1,300 SH   SOLE   1,300 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   19,168,283 311,933 SH   SOLE   311,933 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   22,730,727 867,585 SH   SOLE   867,585 0 0
ESSEX PPTY TR INC COM 297178105   13,512,595 56,380 SH   SOLE   56,380 0 0
EXTRA SPACE STORAGE INC COM 30225T102   30,410,251 207,239 SH   SOLE   207,239 0 0
FIRST INDL RLTY TR INC COM 32054K103   82,656 1,600 SH   SOLE   1,600 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   88,893 6,300 SH   SOLE   6,300 0 0
HUDSON PAC PPTYS INC COM 444097109   6,657,340 1,048,400 SH   SOLE   1,048,400 0 0
INTERCONTINENTAL HOTELS GROU SPONSORED ADS 45857P806   83,952 800 SH   SOLE   800 0 0
INVITATION HOMES INC COM 46187W107   30,233,005 862,076 SH   SOLE   862,076 0 0
KIMCO RLTY CORP COM 49446R109   8,863,869 464,320 SH   SOLE   464,320 0 0
KITE RLTY GROUP TR COM NEW 49803T300   8,402,301 396,522 SH   SOLE   396,522 0 0
LXP INDUSTRIAL TRUST COM 529043101   12,042,168 1,356,100 SH   SOLE   1,356,100 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102   88,396 2,800 SH   SOLE   2,800 0 0
PARK HOTELS & RESORTS INC COM 700517105   15,254,048 867,200 SH   SOLE   867,200 0 0
PROLOGIS INC. COM 74340W103   62,582,941 489,235 SH   SOLE   489,235 0 0
REALTY INCOME CORP COM 756109104   368,874 6,900 SH   SOLE   6,900 0 0
REXFORD INDL RLTY INC COM 76169C100   18,799,249 384,915 SH   SOLE   384,915 0 0
RLJ LODGING TR COM 74965L101   81,830 7,000 SH   SOLE   7,000 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   10,195,427 47,660 SH   SOLE   47,660 0 0
STAG INDL INC COM 85254J102   82,808 2,200 SH   SOLE   2,200 0 0
SUN CMNTYS INC COM 866674104   16,375,439 130,544 SH   SOLE   130,544 0 0
UDR INC COM 902653104   81,707 2,230 SH   SOLE   2,230 0 0
UNITED HOMES GROUP INC CL A 91060H108   170,462 25,068 SH   SOLE   25,068 0 0
VENTAS INC COM 92276F100   81,434 1,900 SH   SOLE   1,900 0 0
VERIS RESIDENTIAL INC COM 554489104   2,678,136 181,200 SH   SOLE   181,200 0 0
VICI PPTYS INC COM 925652109   28,840,790 974,351 SH   SOLE   974,351 0 0
WELLTOWER INC COM 95040Q104   21,585,545 234,651 SH   SOLE   234,651 0 0