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
AGREE REALTY CORP COMM STK 008492100 39,424 583,374 SH   SOLE   72,158 0 511,216
ALEXANDRIA REAL ESTATE EQUITIES INC COMM STK 015271109 46,039 328,403 SH   SOLE   45,539 0 282,864
AMERICAN HOMES 4 RENT COMM STK 02665T306 35,656 1,086,748 SH   SOLE   181,531 0 905,217
AMERICAN TOWER CORP COMM STK 03027X100 45,640 212,575 SH   SOLE   212,575 0 0
AMERICOLD REALTY TRUST COMM STK 03064D108 10,071 409,397 SH   SOLE   8,181 0 401,216
APARTMENT INCOME REIT CORP COMM STK 03750L109 26,637 689,712 SH   SOLE   22,960 0 666,752
AVALONBAY COMMUNITIES INC COMM STK 053484101 107,801 585,269 SH   SOLE   102,775 0 482,494
CAMDEN PROPERTY TRUST COMM STK 133131102 16,473 137,905 SH   SOLE   8,659 0 129,246
CORPORATE OFFICE PROPERTIES TRUST COMM STK 22002T108 4,353 187,386 SH   SOLE   2,981 0 184,405
CROWN CASTLE INTL CORP COMM STK 22822V101 17,328 119,875 SH   SOLE   119,875 0 0
CUBESMART COMM STK 229663109 99,571 2,485,548 SH   SOLE   345,757 0 2,139,791
CUBESMART COMM STK 229663109 1,269 31,681 SH   OTR   0 0 31,681
DIGITAL REALTY TRUST INC COMM STK 253868103 80,465 811,301 SH   SOLE   108,088 0 703,213
DOUGLAS EMMETT INC COMM STK 25960P109 21,354 1,190,988 SH   SOLE   105,968 0 1,085,020
DUKE REALTY CORP COMM STK 264411505 66,642 1,382,614 SH   SOLE   180,677 0 1,201,937
EQUINIX INC COMM STK 29444U700 150,389 264,379 SH   SOLE   42,607 0 221,772
EQUITY LIFESTYLE PROPERTIES INC COMM STK 29472R108 55,565 884,222 SH   SOLE   153,325 0 730,897
EQUITY RESIDENTIAL COMM STK 29476L107 6,963 103,586 SH   SOLE   103,586 0 0
ESSEX PROPERTY TRUST INC COMM STK 297178105 104,800 432,645 SH   SOLE   68,535 0 364,110
ESSEX PROPERTY TRUST INC COMM STK 297178105 1,907 7,871 SH   OTR   0 0 7,871
FEDERAL REALTY INVESTMENT TRUST COMM STK 313745101 1,394 15,464 SH   SOLE   15,464 0 0
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 45,001 1,004,262 SH   SOLE   135,596 0 868,666
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103 1,047 23,370 SH   OTR   0 0 23,370
GAMING AND LEISURE PROP INC COMM STK 36467J108 64,025 1,447,214 SH   SOLE   178,643 0 1,268,571
GAMING AND LEISURE PROP INC COMM STK 36467J108 1,388 31,373 SH   OTR   0 0 31,373
HEALTHCARE REALTY TRUST INC COMM STK 42226K105 15,951 765,029 SH   SOLE   61,040 0 703,989
HEALTHPEAK PROPERTIES INC COMM STK 42250P103 32,228 1,406,105 SH   SOLE   230,620 0 1,175,485
HIGHWOODS PROPERTIES INC COMM STK 431284108 15,133 561,299 SH   SOLE   33,674 0 527,625
HOST HOTELS & RESORTS INC COMM STK 44107P104 37,530 2,363,322 SH   SOLE   137,725 0 2,225,597
INVITATION HOMES INC COMM STK 46187W107 112,993 3,345,949 SH   SOLE   551,346 0 2,794,603
INVITATION HOMES INC COMM STK 46187W107 1,645 48,708 SH   OTR   0 0 48,708
KILROY REALTY CORP COMM STK 49427F108 32,965 782,825 SH   SOLE   85,953 0 696,872
MEDICAL PROPERTIES TRUST INC COMM STK 58463J304 45,457 3,832,820 SH   SOLE   447,005 0 3,385,815
NATIONAL HEALTH INVESTORS INC COMM STK 63633D104 16,867 298,373 SH   SOLE   39,724 0 258,649
NATIONAL RETAIL PROPERTIES INC COMM STK 637417106 50,312 1,262,220 SH   SOLE   119,302 0 1,142,918
OUTFRONT MEDIA INC COMM STK 69007J106 48,398 3,186,154 SH   SOLE   456,086 0 2,730,068
OUTFRONT MEDIA INC COMM STK 69007J106 1,378 90,724 SH   OTR   0 0 90,724
PARK HOTELS & RESORTS INC COMM STK 700517105 34,986 3,107,101 SH   SOLE   222,825 0 2,884,276
PROLOGIS INC COMM STK 74340W103 102,460 1,008,465 SH   SOLE   116,213 0 892,252
PUBLIC STORAGE COMM STK 74460D109 152,621 521,230 SH   SOLE   109,925 0 411,305
REALTY INCOME CORP COMM STK 756109104 86,801 1,491,424 SH   SOLE   164,606 0 1,326,818
REGENCY CENTERS CORP COMM STK 758849103 35,078 651,397 SH   SOLE   56,857 0 594,540
RETAIL OPPORTUNITY INVESTMENTS CORP COMM STK 76131N101 12,267 891,514 SH   SOLE   14,665 0 876,849
REXFORD INDUSTRIAL REALTY INC COMM STK 76169C100 70,307 1,352,050 SH   SOLE   141,034 0 1,211,016
REXFORD INDUSTRIAL REALTY INC COMM STK 76169C100 1,308 25,160 SH   OTR   0 0 25,160
SABRA HEALTHCARE REIT INC COMM STK 78573L106 23,937 1,824,475 SH   SOLE   237,082 0 1,587,393
SBA COMMUNICATIONS CORP COMM STK 78410G104 8,547 30,026 SH   SOLE   30,026 0 0
SIMON PROPERTY GROUP INC COMM STK 828806109 72,612 809,048 SH   SOLE   86,254 0 722,794
SITE CENTERS CORP COMM STK 82981J109 17,680 1,650,750 SH   SOLE   105,762 0 1,544,988
SUN COMMUNITIES INC COMM STK 866674104 5,824 43,033 SH   SOLE   10,177 0 32,856
TERRENO REALTY CORP COMM STK 88146M101 461 8,699 SH   SOLE   8,699 0 0
URBAN EDGE PROPERTIES COMM STK 91704F104 43,431 3,255,670 SH   SOLE   413,394 0 2,842,276
URBAN EDGE PROPERTIES COMM STK 91704F104 1,192 89,390 SH   OTR   0 0 89,390
VENTAS INC COMM STK 92276F100 11,500 286,272 SH   SOLE   174,370 0 111,902
VICI PROPERTIES INC COMM STK 925652109 89,605 3,001,826 SH   SOLE   541,592 0 2,460,234
WELLTOWER INC COMM STK 95040Q104 90,561 1,407,970 SH   SOLE   167,267 0 1,240,703
WEYERHAEUSER CO COMM STK 962166104 542 18,981 SH   SOLE   18,981 0 0