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   1,762,683 31,898 SH   SOLE   31,898 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   470,470 4,700 SH   SOLE   4,700 0 0
AMERICAN TOWER CORP NEW COM 03027X100   3,290,645 20,010 SH   SOLE   20,010 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103   664,967 5,370 SH   SOLE   5,370 0 0
APARTMENT INCOME REIT CORP COM 03750L109   585,050 19,057 SH   SOLE   19,057 0 0
AVALONBAY CMNTYS INC COM 053484101   30,825,784 179,491 SH   SOLE   179,491 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203   987,305 217,468 SH   SOLE   217,468 0 0
BRIXMOR PPTY GROUP INC COM 11120U105   32,574,146 1,567,572 SH   SOLE   1,567,572 0 0
CAMDEN PPTY TR SH BEN INT 133131102   25,292,111 267,415 SH   SOLE   267,415 0 0
CHENIERE ENERGY INC COM NEW 16411R208   439,794 2,650 SH   SOLE   2,650 0 0
CONSOLIDATED EDISON INC COM 209115104   812,535 9,500 SH   SOLE   9,500 0 0
COPT DEFENSE PROPERTIES SHS BEN INT 22002T108   1,265,373 53,100 SH   SOLE   53,100 0 0
CROWN CASTLE INC COM 22822V101   2,385,878 25,925 SH   SOLE   25,925 0 0
CUBESMART COM 229663109   1,254,477 32,900 SH   SOLE   32,900 0 0
DIGITAL RLTY TR INC COM 253868103   2,355,170 19,461 SH   SOLE   19,461 0 0
EASTERLY GOVT PPTYS INC COM 27616P103   1,099,886 96,228 SH   SOLE   96,228 0 0
EDISON INTL COM 281020107   534,801 8,450 SH   SOLE   8,450 0 0
EQUINIX INC COM 29444U700   34,388,411 47,350 SH   SOLE   47,350 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   2,101,614 35,675 SH   SOLE   35,675 0 0
EVERSOURCE ENERGY COM 30040W108   786,770 13,530 SH   SOLE   13,530 0 0
EXTRA SPACE STORAGE INC COM 30225T102   26,570,352 218,542 SH   SOLE   218,542 0 0
GAMING & LEISURE PPTYS INC COM 36467J108   2,270,256 49,710 SH   SOLE   49,710 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   1,320,855 86,500 SH   SOLE   86,500 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   1,270,512 69,200 SH   SOLE   69,200 0 0
HIGHWOODS PPTYS INC COM 431284108   962,322 46,692 SH   SOLE   46,692 0 0
HUDSON PAC PPTYS INC COM 444097109   12,813,193 1,926,796 SH   SOLE   1,926,796 0 0
KINDER MORGAN INC DEL COM 49456B101   744,442 44,900 SH   SOLE   44,900 0 0
KITE RLTY GROUP TR COM NEW 49803T300   969,898 45,280 SH   SOLE   45,280 0 0
MEDICAL PPTYS TRUST INC COM 58463J304   4,209,035 772,300 SH   SOLE   772,300 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   637,974 20,100 SH   SOLE   20,100 0 0
ONEOK INC NEW COM 682680103   567,699 8,950 SH   SOLE   8,950 0 0
PARAMOUNT GROUP INC COM 69924R108   6,517,619 1,410,740 SH   SOLE   1,410,740 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206   224,485 39,944 SH   SOLE   39,944 0 0
PROLOGIS INC. COM 74340W103   50,234,173 447,680 SH   SOLE   447,680 0 0
REALTY INCOME CORP COM 756109104   26,890,093 538,448 SH   SOLE   538,448 0 0
REGENCY CTRS CORP COM 758849103   2,416,236 40,650 SH   SOLE   40,650 0 0
REXFORD INDL RLTY INC COM 76169C100   17,736,390 359,400 SH   SOLE   359,400 0 0
SABRA HEALTH CARE REIT INC COM 78573L106   15,474,794 1,110,100 SH   SOLE   1,110,100 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   14,935,685 74,615 SH   SOLE   74,615 0 0
SEMPRA COM 816851109   367,362 5,400 SH   SOLE   5,400 0 0
SIMON PPTY GROUP INC NEW COM 828806109   2,759,842 25,547 SH   SOLE   25,547 0 0
SUN CMNTYS INC COM 866674104   19,348,590 163,500 SH   SOLE   163,500 0 0
VENTAS INC COM 92276F100   1,360,799 32,300 SH   SOLE   32,300 0 0
VICI PPTYS INC COM 925652109   1,920,658 66,002 SH   SOLE   66,002 0 0
WELLTOWER INC COM 95040Q104   26,768,753 326,767 SH   SOLE   326,767 0 0
WILLIAMS COS INC COM 969457100   451,446 13,400 SH   SOLE   13,400 0 0
WP CAREY INC COM 92936U109   1,855,809 34,316 SH   SOLE   34,316 0 0