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   1,978,141 31,424 SH   SOLE   31,424 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   28,685,642 226,281 SH   SOLE   226,281 0 0
AMERICAN HOMES 4 RENT CL A 02665T306   1,474,360 41,000 SH   SOLE   41,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100   2,797,805 12,960 SH   SOLE   12,960 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103   721,985 5,470 SH   SOLE   5,470 0 0
APARTMENT INCOME REIT CORP COM 03750L109   638,025 18,371 SH   SOLE   18,371 0 0
AVALONBAY CMNTYS INC COM 053484101   21,364,985 114,117 SH   SOLE   114,117 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203   1,162,982 215,367 SH   SOLE   215,367 0 0
BRIXMOR PPTY GROUP INC COM 11120U105   36,470,094 1,567,258 SH   SOLE   1,567,258 0 0
CAMDEN PPTY TR SH BEN INT 133131102   1,808,269 18,212 SH   SOLE   18,212 0 0
CHENIERE ENERGY INC COM NEW 16411R208   469,453 2,750 SH   SOLE   2,750 0 0
CONSOLIDATED EDISON INC COM 209115104   873,312 9,600 SH   SOLE   9,600 0 0
COPT DEFENSE PROPERTIES SHS BEN INT 22002T108   1,352,136 52,756 SH   SOLE   52,756 0 0
CREATIVE MEDIA & CMNTY TR COM NEW 125525584   258,307 70,000 SH   SOLE   70,000 0 0
CROWN CASTLE INC COM 22822V101   2,275,578 19,755 SH   SOLE   19,755 0 0
CUBESMART COM 229663109   1,499,886 32,360 SH   SOLE   32,360 0 0
DIGITAL RLTY TR INC COM 253868103   2,701,155 20,071 SH   SOLE   20,071 0 0
EASTERLY GOVT PPTYS INC COM 27616P103   1,252,124 93,164 SH   SOLE   93,164 0 0
EDISON INTL COM 281020107   618,389 8,650 SH   SOLE   8,650 0 0
EQUINIX INC COM 29444U700   37,289,557 46,300 SH   SOLE   46,300 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   2,162,251 35,354 SH   SOLE   35,354 0 0
EVERSOURCE ENERGY COM 30040W108   847,416 13,730 SH   SOLE   13,730 0 0
EXTRA SPACE STORAGE INC COM 30225T102   2,096,956 13,079 SH   SOLE   13,079 0 0
FARMLAND PARTNERS INC COM 31154R109   312,000 25,000 SH   SOLE   25,000 0 0
FIRST INDL RLTY TR INC COM 32054K103   1,095,536 20,800 SH   SOLE   20,800 0 0
GAMING & LEISURE PPTYS INC COM 36467J108   2,417,311 48,983 SH   SOLE   48,983 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   1,481,746 85,998 SH   SOLE   85,998 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   1,374,259 69,407 SH   SOLE   69,407 0 0
HIGHWOODS PPTYS INC COM 431284108   1,063,875 46,336 SH   SOLE   46,336 0 0
HUDSON PAC PPTYS INC COM 444097109   19,238,324 2,066,415 SH   SOLE   2,066,415 0 0
INVITATION HOMES INC COM 46187W107   17,679,213 518,300 SH   SOLE   518,300 0 0
KINDER MORGAN INC DEL COM 49456B101   806,148 45,700 SH   SOLE   45,700 0 0
KITE RLTY GROUP TR COM NEW 49803T300   2,775,890 121,430 SH   SOLE   121,430 0 0
MEDICAL PPTYS TRUST INC COM 58463J304   3,699,528 753,468 SH   SOLE   753,468 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   302,731 7,300 SH   SOLE   7,300 0 0
ONEOK INC NEW COM 682680103   639,002 9,100 SH   SOLE   9,100 0 0
PARAMOUNT GROUP INC COM 69924R108   6,288,509 1,216,346 SH   SOLE   1,216,346 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206   299,644 42,144 SH   SOLE   42,144 0 0
PROLOGIS INC. COM 74340W103   52,079,377 390,693 SH   SOLE   390,693 0 0
PUBLIC STORAGE COM 74460D109   28,540,375 93,575 SH   SOLE   93,575 0 0
REALTY INCOME CORP COM 756109104   34,031,399 592,675 SH   SOLE   592,675 0 0
REGENCY CTRS CORP COM 758849103   2,668,610 39,830 SH   SOLE   39,830 0 0
REXFORD INDL RLTY INC COM 76169C100   22,719,939 404,990 SH   SOLE   404,990 0 0
SABRA HEALTH CARE REIT INC COM 78573L106   15,390,509 1,078,522 SH   SOLE   1,078,522 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   18,555,901 73,144 SH   SOLE   73,144 0 0
SEMPRA COM 816851109   414,752 5,550 SH   SOLE   5,550 0 0
SIMON PPTY GROUP INC NEW COM 828806109   2,659,808 18,647 SH   SOLE   18,647 0 0
SUN CMNTYS INC COM 866674104   26,249,395 196,404 SH   SOLE   196,404 0 0
UDR INC COM 902653104   18,255,715 476,775 SH   SOLE   476,775 0 0
VENTAS INC COM 92276F100   1,602,854 32,160 SH   SOLE   32,160 0 0
VICI PPTYS INC COM 925652109   2,078,321 65,192 SH   SOLE   65,192 0 0
WELLTOWER INC COM 95040Q104   5,763,396 63,917 SH   SOLE   63,917 0 0
WILLIAMS COS INC COM 969457100   480,654 13,800 SH   SOLE   13,800 0 0
WP CAREY INC COM 92936U109   2,024,405 31,236 SH   SOLE   31,236 0 0