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 BBG000BC9DK0 38,617,539 500,292 SH   DFND 1,2,3 150,968 0 349,324
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 BBG000BC33T9 36,699,180 396,705 SH   DFND 1,2,3 110,223 0 286,482
AVALONBAY CMNTYS INC COM 053484101 BBG000BLPBL5 67,958,350 316,645 SH   DFND 1,2,3 87,897 0 228,748
BRIXMOR PPTY GROUP INC COM 11120U105 BBG001LFLZZ1 11,614,218 437,447 SH   DFND 1,2 208,203 0 229,244
BROADSTONE NET LEASE INC COM 11135E203 BBG000PWD2R3 28,997,650 1,701,740 SH   DFND 1,2,3 455,151 0 1,246,589
CAMDEN PPTY TR SH BEN INT 133131102 BBG000BB0V03 57,401,750 469,352 SH   DFND 1,2,3 133,018 0 336,334
COUSINS PPTYS INC COM NEW 222795502 BBG000CW9BM7 25,593,581 867,579 SH   DFND 1,2,3 218,672 0 648,907
CTO RLTY GROWTH INC NEW COM 22948Q101 BBG00Y3M1H59 17,042,736 882,586 SH   DFND 1,2,3 163,507 0 719,079
CUBESMART COM 229663109 BBG000HF28Q9 13,041,114 305,341 SH   DFND 1,2,3 117,673 0 187,668
DIAMONDROCK HOSPITALITY CO COM 252784301 BBG000JKHFP5 9,923,975 1,285,489 SH   DFND 1,2,3 333,857 0 951,632
DIGITAL RLTY TR INC COM 253868103 BBG000Q5ZRM7 80,606,500 562,541 SH   DFND 1,2,3 154,844 0 407,697
EASTGROUP PPTYS INC COM 277276101 BBG000BHRBT4 40,351,914 229,077 SH   DFND 1,2,3 61,443 0 167,634
EMPIRE ST RLTY TR INC CL A 292104106 BBG002N8HMW0 10,190,391 1,303,119 SH   DFND 1,2,3 530,913 0 772,206
EQUINIX INC COM 29444U700 BBG000MBDGM6 84,736,879 103,927 SH   DFND 1,2,3 30,219 0 73,708
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 BBG00L17LGJ7 29,258,268 896,393 SH   DFND 1,2,3 242,113 0 654,280
ESSEX PPTY TR INC COM 297178105 BBG000CGJMB9 10,967,848 35,776 SH   DFND 1,2,3 17,315 0 18,461
EXTRA SPACE STORAGE INC COM 30225T102 BBG000PV27K3 17,809,742 119,939 SH   DFND 1,2,3 35,642 0 84,297
FRONTVIEW REIT INC COM 35922N100 BBG01PNY4CV8 10,216,639 798,799 SH   DFND 1,2,3 219,192 0 579,607
HEALTHPEAK PROPERTIES INC COM 42250P103 BBG000BKYDP9 4,487,445 221,931 SH   DFND 1,2,3 92,082 0 129,849
HOST HOTELS & RESORTS INC COM 44107P104 BBG000BL8804 24,454,287 1,720,921 SH   DFND 1,2,3 503,010 0 1,217,911
INVITATION HOMES INC COM 46187W107 BBG00FQH6BS9 56,939,463 1,633,844 SH   DFND 1,2,3 463,066 0 1,170,778
IRON MTN INC DEL COM 46284V101 BBG000KCZPC3 46,464,783 540,037 SH   DFND 1,2,3 154,442 0 385,595
LTC PPTYS INC COM 502175102 BBG000BGCCC8 17,227,211 485,958 SH   DFND 1,2,3 142,319 0 343,639
MEDICAL PPTYS TRUST INC COM 58463J304 BBG000BGRB25 6,673,600 1,106,733 SH   DFND 1,2,3 316,807 0 789,926
PROLOGIS INC. COM 74340W103 BBG000B9Z0J8 127,847,739 1,143,642 SH   DFND 1,2,3 332,823 0 810,819
PUBLIC STORAGE OPER CO COM 74460D109 BBG000BPPN67 85,675,953 286,264 SH   DFND 1,2,3 74,585 0 211,679
REALTY INCOME CORP COM 756109104 BBG000DHPN63 37,065,896 638,957 SH   DFND 1,2,3 173,736 0 465,221
REGENCY CTRS CORP COM 758849103 BBG000BL46Q4 41,317,475 560,161 SH   DFND 1,2,3 154,780 0 405,381
SIMON PPTY GROUP INC NEW COM 828806109 BBG000BJ2D31 79,393,548 478,044 SH   DFND 1,2,3 136,223 0 341,821
SL GREEN RLTY CORP COM 78440X887 BBG000BVP5P2 33,842,435 586,524 SH   DFND 1,2,3 156,269 0 430,255
STAG INDL INC COM 85254J102 BBG000BGLFP7 38,753,004 1,072,896 SH   DFND 1,2,3 294,845 0 778,051
SUN CMNTYS INC COM 866674104 BBG000BLJWF3 33,641,161 261,514 SH   DFND 1,2,3 72,100 0 189,414
UDR INC COM 902653104 BBG000C41023 39,715,542 879,246 SH   DFND 1,2,3 229,485 0 649,761
URBAN EDGE PPTYS COM 91704F104 BBG006BFYQN0 22,099,489 1,163,131 SH   DFND 1,2,3 282,790 0 880,341
VENTAS INC COM 92276F100 BBG000FRVHB9 20,540,193 298,723 SH   DFND 1,2,3 103,069 0 195,654
VICI PPTYS INC COM 925652109 BBG00HVVB499 33,972,686 1,041,468 SH   DFND 1,2 322,042 0 719,426
WELLTOWER INC COM 95040Q104 BBG000BKY1G5 165,499,127 1,080,211 SH   DFND 1,2,3 296,193 0 784,018
ACADIA RLTY TR COM SH BEN INT 004239109 BBG000BJGD54 324,306 15,480 SH   DFND 1,2 15,480 0 0
BXP INC COM 101121101 BBG000BS5CM9 343,408 5,111 SH   DFND 1,2 5,111 0 0
DOUGLAS EMMETT INC COM 25960P109 BBG000PN1SJ8 343,376 21,461 SH   DFND 1,2 21,461 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 BBG000BG8M31 442,865 6,187 SH   DFND 1,2 6,187 0 0
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101 BBG000BJVN28 333,175 3,406 SH   DFND 1,2 3,406 0 0
HEALTHCARE RLTY TR CL A COM 42226K105 BBG000PRJCX9 347,565 20,566 SH   DFND 1,2 20,566 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 BBG000PNBZF5 308,428 30,447 SH   DFND 1,2 30,447 0 0
REXFORD INDL RLTY INC COM 76169C100 BBG004MB82R0 332,266 8,487 SH   DFND 1,2 8,487 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 BBG000Q3TSJ1 334,168 35,512 SH   DFND 1,2 35,512 0 0
TERRENO RLTY CORP COM 88146M101 BBG000PV3J62 338,543 5,355 SH   DFND 1,2 5,355 0 0
VORNADO RLTY TR SH BEN INT 929042109 BBG000BWHD54 306,869 8,296 SH   DFND 1,2 8,296 0 0
WP CAREY INC COM 92936U109 BBG000BCQM58 1,522,150 24,119 SH   DFND 1,2,3 88 0 24,031
AMERICAN TOWER CORP NEW COM 03027X100 BBG000B9XYV2 19,295,462 88,674 SH   DFND 1,2 41 0 88,633
SBA COMMUNICATIONS CORP NEW CL A 78410G104 BBG000D2M0Z7 5,718,500 25,992 SH   DFND 1,2 27 0 25,965
CROWN CASTLE INC COM 22822V101 BBG000FV1Z23 3,529,124 33,859 SH   DFND 1,2 0 0 33,859
WEYERHAEUSER CO MTN BE COM NEW 962166104 BBG000BX3BL3 2,588,498 88,405 SH   DFND 1,2 0 0 88,405
EPR PPTYS CONV PFD 9% SR E 26884U307 BBG000001X86 514,581 17,147 SH   DFND 1,2 17,147 0 0