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
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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 Realty Corporation COM 008492100   9,375,438 128,325 SH   SOLE   128,325 0 0
Apartment Investment & Management Co Class A COM 03748R747   7,468,676 863,430 SH   SOLE   863,430 0 0
American Homes for Rent Class A COM 02665T306   21,810,562 604,673 SH   SOLE   604,673 0 0
American Tower Corporation COM 03027X100   55,188,389 249,698 SH   SOLE   249,698 0 0
AvalonBay Communities, Inc. COM 053484101   12,992,583 63,845 SH   SOLE   63,845 0 0
Brixmor Property Group, Inc. COM 11120U105   3,275,068 125,770 SH   SOLE   125,770 0 0
BXP Inc COM 101121101   9,654,167 143,088 SH   SOLE   143,088 0 0
Crown Castle Inc. COM 22822V101   25,915,484 252,267 SH   SOLE   252,267 0 0
Camden Property Trust COM 133131102   10,794,423 95,788 SH   SOLE   95,788 0 0
CareTrust REIT, Inc. COM 14174T107   3,458,776 113,031 SH   SOLE   113,031 0 0
Curbline Properties Corp. COM 23128Q101   3,161,042 138,460 SH   SOLE   138,460 0 0
Digital Realty Trust, Inc. COM 253868103   11,579,932 66,425 SH   SOLE   66,425 0 0
EastGroup Properties, Inc. COM 277276101   30,951,615 185,205 SH   SOLE   185,205 0 0
Equity LifeStyle Properties, Inc. COM 29472R108   15,558,159 252,280 SH   SOLE   252,280 0 0
EPR Properties COM 26884U109   7,589,037 130,261 SH   SOLE   130,261 0 0
Equinix, Inc. COM 29444U700   44,704,369 56,198 SH   SOLE   56,198 0 0
Essex Property Trust, Inc. COM 297178105   15,380,786 54,272 SH   SOLE   54,272 0 0
Extra Space Storage Inc. COM 30225T102   18,548,163 125,801 SH   SOLE   125,801 0 0
Farmland Partners Inc COM 31154R109   5,346,533 464,512 SH   SOLE   464,512 0 0
Gaming and Leisure Properties, Inc. COM 36467J108   18,839,562 403,589 SH   SOLE   403,589 0 0
Howard Hughes Holdings Inc. COM 44267T102   3,148,373 46,642 SH   SOLE   46,642 0 0
Invitation Homes, Inc. COM 46187W107   12,067,709 367,917 SH   SOLE   367,917 0 0
Kite Realty Group Trust COM 49803T300   22,710,098 1,002,653 SH   SOLE   1,002,653 0 0
Mid-America Apartment Communities, Inc. COM 59522J103   11,339,212 76,611 SH   SOLE   76,611 0 0
Realty Income Corporation COM 756109104   8,095,817 140,527 SH   SOLE   140,527 0 0
OUTFRONT Media Inc. COM 69007J304   2,951,996 180,882 SH   SOLE   180,882 0 0
PotlatchDeltic Corporation COM 737630103   2,717,610 70,826 SH   SOLE   70,826 0 0
Prologis, Inc. COM 74340W103   11,681,289 111,123 SH   SOLE   111,123 0 0
Public Storage COM 74460D109   20,797,002 70,877 SH   SOLE   70,877 0 0
Postal Realty Trust, Inc. Class A COM 73757R102   1,653,371 112,245 SH   SOLE   112,245 0 0
Regency Centers Corporation COM 758849103   11,871,331 166,661 SH   SOLE   166,661 0 0
Rayonier Inc. COM 754907103   2,590,914 116,813 SH   SOLE   116,813 0 0
SBA Communications Corp. Class A COM 78410G104   10,648,723 45,344 SH   SOLE   45,344 0 0
Sabra Health Care REIT, Inc. COM 78573L106   3,401,763 184,477 SH   SOLE   184,477 0 0
Simon Property Group, Inc. COM 828806109   31,515,408 196,040 SH   SOLE   196,040 0 0
Sun Communities, Inc. COM 866674104   5,897,657 46,625 SH   SOLE   46,625 0 0
Terreno Realty Corporation COM 88146M101   25,782,454 459,826 SH   SOLE   459,826 0 0
VICI Properties Inc COM 925652109   18,047,718 553,611 SH   SOLE   553,611 0 0
Ventas, Inc. COM 92276F100   18,592,507 294,418 SH   SOLE   294,418 0 0
Welltower Inc. COM 95040Q104   48,302,510 314,203 SH   SOLE   314,203 0 0
Weyerhaeuser Company COM 962166104   8,368,211 325,738 SH   SOLE   325,738 0 0
Alpha and Omega Semiconductor Limited COM G6331P104   4,801,739 187,129 SH   SOLE   187,129 0 0
Aris Water Solutions, Inc. Class A COM 04041L106   1,210,522 51,184 SH   SOLE   51,184 0 0
Astec Industries, Inc. COM 046224101   3,151,606 75,596 SH   SOLE   75,596 0 0
Axogen, Inc. COM 05463X106   2,006,919 184,969 SH   SOLE   184,969 0 0
AZZ Inc. COM 002474104   6,441,254 68,175 SH   SOLE   68,175 0 0
Build-A-Bear Workshop, Inc. COM 120076104   6,231,005 120,849 SH   SOLE   120,849 0 0
BK Technologies Corp. COM 05587G203   3,693,155 78,361 SH   SOLE   78,361 0 0
Blade Air Mobility, Inc. Class A COM 092667104   5,491,949 1,362,766 SH   SOLE   1,362,766 0 0
BioLife Solutions, Inc. COM 09062W204   4,882,441 226,668 SH   SOLE   226,668 0 0
Banco Latinoamericano de Comercio Exterior, S.A. Class E COM P16994132   6,025,004 149,503 SH   SOLE   149,503 0 0
Cass Information Systems, Inc. COM 14808P109   4,245,323 97,705 SH   SOLE   97,705 0 0
CompoSecure, Inc. Class A COM 20459V105   1,051,243 74,609 SH   SOLE   74,609 0 0
Collegium Pharmaceutical, Inc. COM 19459J104   3,856,682 130,425 SH   SOLE   130,425 0 0
CSG Systems International, Inc. COM 126349109   1,609,782 24,648 SH   SOLE   24,648 0 0
Daktronics, Inc. COM 234264109   2,928,615 193,691 SH   SOLE   193,691 0 0
Dave, Inc. Class A COM 23834J201   1,340,069 4,992 SH   SOLE   4,992 0 0
Dynavax Technologies Corporation COM 268158201   1,469,616 148,146 SH   SOLE   148,146 0 0
National Vision Holdings, Inc. COM 63845R107   528,807 22,981 SH   SOLE   22,981 0 0
EZCORP, Inc. Class A COM 302301106   2,733,232 196,918 SH   SOLE   196,918 0 0
Farmland Partners Inc COM 31154R109   4,160,374 361,457 SH   SOLE   361,457 0 0
GCM Grosvenor, Inc. Class A COM 36831E108   1,378,296 119,229 SH   SOLE   119,229 0 0
Genius Sports Limited COM G3934V109   535,178 51,459 SH   SOLE   51,459 0 0
Global Medical REIT, Inc. COM 37954A204   1,100,088 158,742 SH   SOLE   158,742 0 0
Gorman-Rupp Company COM 383082104   4,914,296 133,831 SH   SOLE   133,831 0 0
Hawkins, Inc. COM 420261109   4,738,027 33,342 SH   SOLE   33,342 0 0
InterDigital, Inc. COM 45867G101   3,143,111 14,017 SH   SOLE   14,017 0 0
Innodata Inc. COM 457642205   2,796,944 54,606 SH   SOLE   54,606 0 0
Innoviva, Inc. COM 45781M101   4,476,809 222,837 SH   SOLE   222,837 0 0
IRadimed Corp. COM 46266A109   4,774,131 79,848 SH   SOLE   79,848 0 0
LifeMD, Inc. COM 53216B104   3,665,547 269,129 SH   SOLE   269,129 0 0
Ligand Pharmaceuticals Incorporated COM 53220K504   7,122,969 62,658 SH   SOLE   62,658 0 0
Lincoln Educational Services Corporation COM 533535100   8,308,007 360,434 SH   SOLE   360,434 0 0
Mama's Creations, Inc. COM 56146T103   4,903,678 590,804 SH   SOLE   590,804 0 0
Medallion Financial Corp. COM 583928106   2,108,857 221,286 SH   SOLE   221,286 0 0
NPK International Inc. COM 651718504   5,581,146 655,833 SH   SOLE   655,833 0 0
NAPCO Security Technologies, Inc. COM 630402105   3,650,681 122,959 SH   SOLE   122,959 0 0
NWPX Infrastructure Inc. COM 667746101   2,665,273 64,990 SH   SOLE   64,990 0 0
OUTFRONT Media Inc. COM 69007J304   1,399,533 85,755 SH   SOLE   85,755 0 0
Patria Investments Ltd. Class A COM G69451105   1,078,851 76,731 SH   SOLE   76,731 0 0
Park Aerospace Corp. COM 70014A104   3,340,617 226,175 SH   SOLE   226,175 0 0
Plymouth Industrial REIT, Inc. COM 729640102   3,769,609 234,720 SH   SOLE   234,720 0 0
Postal Realty Trust, Inc. Class A COM 73757R102   2,170,445 147,348 SH   SOLE   147,348 0 0
ProPetro Holding Corp. COM 74347M108   3,130,368 524,349 SH   SOLE   524,349 0 0
Red Cat Holdings Inc COM 75644T100   539,425 74,096 SH   SOLE   74,096 0 0
Red Violet, Inc. COM 75704L104   5,464,341 111,063 SH   SOLE   111,063 0 0
Solaris Energy Infrastructure, Inc. Class A COM 83418M103   6,069,602 214,549 SH   SOLE   214,549 0 0
SIGA Technologies Inc COM 826917106   3,009,316 461,551 SH   SOLE   461,551 0 0
Sprott Inc. COM 852066208   8,628,689 124,890 SH   SOLE   124,890 0 0
Spok Holdings, Inc. COM 84863T106   3,327,875 188,228 SH   SOLE   188,228 0 0
Strawberry Fields REIT Inc COM 863182101   862,231 81,805 SH   SOLE   81,805 0 0
UFP Technologies, Inc. COM 902673102   4,251,695 17,413 SH   SOLE   17,413 0 0
WisdomTree Floating Rate Treasury Fund COM 97717Y527   12,950,467 257,413 SH   SOLE   257,413 0 0
Universal Technical Institute, Inc. COM 913915104   7,760,086 228,978 SH   SOLE   228,978 0 0
Venu Holding Corporation COM 92333E104   543,673 46,113 SH   SOLE   46,113 0 0
TeraWulf Inc. COM 88080T104   3,716,516 848,519 SH   SOLE   848,519 0 0
AbbVie, Inc. COM 00287Y109   3,344,098 18,015 SH   SOLE   18,015 0 0
American Healthcare REIT, Inc. COM 398182303   1,721,782 46,863 SH   SOLE   46,863 0 0
Air Lease Corporation Class A COM 00912X302   1,594,877 27,267 SH   SOLE   27,267 0 0
Albemarle Corporation Depository Shs Repr Conv Pfd Registered Shs PFD 012653200   1,503,987 46,853 SH   SOLE   46,853 0 0
Amgen Inc. COM 031162100   2,299,711 8,236 SH   SOLE   8,236 0 0
Apollo Global Management Inc Mandatory Conv Pfd Registered Shs Series A PFD 03769M304   1,745,791 23,323 SH   SOLE   23,323 0 0
Ares Capital Corporation COM 04010L103   3,386,972 154,233 SH   SOLE   154,233 0 0
Ares Management Corporation Pfd Registered shs Series B PFD 03990B309   1,636,036 30,868 SH   SOLE   30,868 0 0
Barrick Mining Corporation COM 06849F108   1,471,403 70,672 SH   SOLE   70,672 0 0
Bank of America Corp Non Cum Perp Conv Pfd Registered Shs Series L PFD 060505682   2,394,031 1,973 SH   SOLE   1,973 0 0
Boeing Company Pfd Registered shs Series A PFD 097023204   4,865,235 71,547 SH   SOLE   71,547 0 0
Cogent Communications Holdings Inc COM 19239V302   1,588,018 32,939 SH   SOLE   32,939 0 0
CMB.TECH NV COM B38564108   3,361,248 372,643 SH   SOLE   372,643 0 0
Compass Diversified Holdings Cum Red Perp Pfd Registered Shs Series C PFD 20451Q401   2,694,143 142,925 SH   SOLE   142,925 0 0
Copa Holdings, S.A. Class A COM P31076105   886,614 8,062 SH   SOLE   8,062 0 0
CSG Systems International, Inc. COM 126349109   1,344,499 20,586 SH   SOLE   20,586 0 0
Clearway Energy, Inc. Class C COM 18539C204   2,673,564 83,548 SH   SOLE   83,548 0 0
DHT Holdings, Inc. COM Y2065G121   823,162 76,148 SH   SOLE   76,148 0 0
Devon Energy Corporation COM 25179M103   1,245,033 39,139 SH   SOLE   39,139 0 0
Ellington Financial Inc. COM 28852N109   2,508,931 193,143 SH   SOLE   193,143 0 0
EPR Properties Cum Conv Pfd Shs Series C PFD 26884U208   2,987,395 119,257 SH   SOLE   119,257 0 0
Equitable Holdings, Inc. COM 29452E101   4,361,047 77,737 SH   SOLE   77,737 0 0
Equinix, Inc. COM 29444U700   4,367,907 5,490 SH   SOLE   5,490 0 0
Diamondback Energy, Inc. COM 25278X109   4,856,660 35,346 SH   SOLE   35,346 0 0
Farmland Partners Inc COM 31154R109   1,493,697 129,773 SH   SOLE   129,773 0 0
Gaming and Leisure Properties, Inc. COM 36467J108   4,421,070 94,710 SH   SOLE   94,710 0 0
Chart Industries, Inc. Shs Depository Shs Repr Pfd Shs Series B PFD 16115Q407   1,035,813 17,149 SH   SOLE   17,149 0 0
Getty Realty Corp. COM 374297109   1,128,419 40,825 SH   SOLE   40,825 0 0
Huntington Ingalls Industries, Inc. COM 446413106   910,623 3,771 SH   SOLE   3,771 0 0
InterDigital, Inc. COM 45867G101   4,270,157 19,043 SH   SOLE   19,043 0 0
Kinder Morgan Inc Class P COM 49456B101   8,252,207 280,687 SH   SOLE   280,687 0 0
Kinetik Holdings Inc. Class A COM 02215L209   694,543 15,767 SH   SOLE   15,767 0 0
Kite Realty Group Trust COM 49803T300   4,079,800 180,123 SH   SOLE   180,123 0 0
LKQ Corporation COM 501889208   756,280 20,434 SH   SOLE   20,434 0 0
Medallion Bank Non-Cum Perp Pfd Registered Shs Series F PFD 58403B205   1,471,403 58,879 SH   SOLE   58,879 0 0
MetLife, Inc. COM 59156R108   3,767,684 46,850 SH   SOLE   46,850 0 0
New York Mortgage Trust, Inc. Cum Conv Red Pfd Registered Shs Series E PFD 649604873   1,406,236 57,280 SH   SOLE   57,280 0 0
Omega Healthcare Investors, Inc. COM 681936100   3,584,188 97,795 SH   SOLE   97,795 0 0
ONEOK, Inc. COM 682680103   3,627,061 44,432 SH   SOLE   44,432 0 0
Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR Class B COM 400501102   2,498,642 23,683 SH   SOLE   23,683 0 0
OUTFRONT Media Inc. COM 69007J304   2,273,987 139,337 SH   SOLE   139,337 0 0
Grupo Aeroportuario del Pacifico SAB de CV Sponsored ADR Class B COM 400506101   2,088,775 9,096 SH   SOLE   9,096 0 0
PG&E Corporation Pfd Shs A Non Voting PFD 69331C306   2,464,343 65,541 SH   SOLE   65,541 0 0
PotlatchDeltic Corporation COM 737630103   1,185,011 30,883 SH   SOLE   30,883 0 0
Public Storage Depositary Shs Repr Cum Red Pfd Registered Shs Series H PFD 74460W644   2,196,815 97,984 SH   SOLE   97,984 0 0
RLJ Lodging Trust USD Cum Conv Pfd Registered Shs Series A PFD 74965L200   804,298 33,994 SH   SOLE   33,994 0 0
Royalty Pharma Plc Class A COM G7709Q104   2,164,232 60,067 SH   SOLE   60,067 0 0
Redwood Trust, Inc. Cum Red Pfd Registered Shs A Series A PFD 758075808   1,485,122 58,677 SH   SOLE   58,677 0 0
Sabine Royalty Trust COM 785688102   857,461 12,859 SH   SOLE   12,859 0 0
Simon Property Group, Inc. COM 828806109   5,765,569 35,864 SH   SOLE   35,864 0 0
Sitio Royalties Corp. Class A COM 82983N108   848,886 46,185 SH   SOLE   46,185 0 0
AT&T Inc Depositary Shs Repr Red Perp Pfd Shs Series C PFD 00206R706   3,299,510 172,749 SH   SOLE   172,749 0 0
Terreno Realty Corporation COM 88146M101   1,953,296 34,836 SH   SOLE   34,836 0 0
Triton International Ltd. Conv Cum Red Perp Pfd Registered Shs Series B PFD G9078F131   1,824,677 74,812 SH   SOLE   74,812 0 0
UDR, Inc. COM 902653104   1,198,730 29,359 SH   SOLE   29,359 0 0
WisdomTree Floating Rate Treasury Fund COM 97717Y527   18,015,261 358,085 SH   SOLE   358,085 0 0
VICI Properties Inc COM 925652109   4,738,330 145,347 SH   SOLE   145,347 0 0
Valero Energy Corporation COM 91913Y100   2,721,582 20,246 SH   SOLE   20,246 0 0
Williams Companies, Inc. COM 969457100   5,388,286 85,787 SH   SOLE   85,787 0 0
Xenia Hotels & Resorts, Inc. COM 984017103   1,039,243 82,676 SH   SOLE   82,676 0 0
Global X S&P 500 Covered Call ETF COM 37954Y475   2,212,250 56,811 SH   SOLE   56,811 0 0
American Tower Corporation COM 03027X100   36,135 163 SH   SOLE   163 0 0
Amazon.com, Inc. COM 023135106   60,555 276 SH   SOLE   276 0 0
Broadcom Inc. COM 11135F101   25,215 91 SH   SOLE   91 0 0
Build-A-Bear Workshop, Inc. COM 120076104   19,245 373 SH   SOLE   373 0 0
BK Technologies Corp. COM 05587G203   28,395 602 SH   SOLE   602 0 0
Cboe Global Markets Inc COM 12503M108   43,320 185 SH   SOLE   185 0 0
CME Group Inc. Class A COM 12572Q105   19,020 69 SH   SOLE   69 0 0
CompoSecure, Inc. Class A COM 20459V105   19,365 1,374 SH   SOLE   1,374 0 0
Coinbase Global, Inc. Class A COM 19260Q107   41,010 117 SH   SOLE   117 0 0
Global X MSCI Colombia ETF COM 37954Y327   17,490 606 SH   SOLE   606 0 0
Sprott Copper Miners ETF COM 85208P881   3,750 161 SH   SOLE   161 0 0
CrowdStrike Holdings, Inc. Class A COM 22788C105   82,500 161 SH   SOLE   161 0 0
Airbus SE Unsponsored ADR COM 009279100   3,915 75 SH   SOLE   75 0 0
iShares MSCI Europe Financials ETF COM 464289180   17,985 568 SH   SOLE   568 0 0
iShares MSCI Brazil ETF COM 464286400   22,485 779 SH   SOLE   779 0 0
Sprott Active Gold & Silver Miners ETF COM 85208P865   31,785 1,253 SH   SOLE   1,253 0 0
Acushnet Holdings Corp. COM 005098108   22,290 306 SH   SOLE   306 0 0
Alphabet Inc. Class C COM 02079K107   54,015 304 SH   SOLE   304 0 0
Robinhood Markets, Inc. Class A COM 770700102   20,640 220 SH   SOLE   220 0 0
iShares Bitcoin Trust ETF COM 46438F101   20,385 333 SH   SOLE   333 0 0
Innodata Inc. COM 457642205   17,745 346 SH   SOLE   346 0 0
IRadimed Corp. COM 46266A109   29,865 499 SH   SOLE   499 0 0
Kratos Defense & Security Solutions, Inc. COM 50077B207   58,950 1,269 SH   SOLE   1,269 0 0
LandBridge Company LLC Class A COM 514952100   36,555 540 SH   SOLE   540 0 0
Ligand Pharmaceuticals Incorporated COM 53220K504   33,585 295 SH   SOLE   295 0 0
Lincoln Educational Services Corporation COM 533535100   50,715 2,200 SH   SOLE   2,200 0 0
Meta Platforms Inc Class A COM 30303M102   70,860 96 SH   SOLE   96 0 0
Nebius Group N.V. Class A COM 000980552   19,095 345 SH   SOLE   345 0 0
Netflix, Inc. COM 64110L106   17,070 12 SH   SOLE   12 0 0
Park Aerospace Corp. COM 70014A104   32,175 2,178 SH   SOLE   2,178 0 0
Palantir Technologies Inc. Class A COM 69608A108   62,985 462 SH   SOLE   462 0 0
Red Cat Holdings Inc COM 75644T100   10,395 1,427 SH   SOLE   1,427 0 0
Reddit, Inc. Class A COM 75734B100   54,615 362 SH   SOLE   362 0 0
Red Violet, Inc. COM 75704L104   29,070 590 SH   SOLE   590 0 0
Charles Schwab Corp COM 808513105   8,895 97 SH   SOLE   97 0 0
Serve Robotics Inc COM 81758H106   18,735 1,637 SH   SOLE   1,637 0 0
Sprott Inc. COM 852066208   34,575 500 SH   SOLE   500 0 0
Sprott Silver Miners & Physical Silver ETF COM 85208P873   13,380 448 SH   SOLE   448 0 0
Sprott Physical Platinum and Palladium Trust Trust Units COM 85207Q104   11,040 941 SH   SOLE   941 0 0
SWK Holdings Corporation COM 78501P203   17,925 1,216 SH   SOLE   1,216 0 0
Take-Two Interactive Software, Inc. COM 874054109   58,290 240 SH   SOLE   240 0 0
Texas Instruments Incorporated COM 882508104   23,985 115 SH   SOLE   115 0 0
Uranium Energy Corp. COM 916896103   15,285 2,247 SH   SOLE   2,247 0 0
Sprott Uranium Miners ETF COM 85208P303   8,190 170 SH   SOLE   170 0 0
WisdomTree Floating Rate Treasury Fund COM 97717Y527   28,755 571 SH   SOLE   571 0 0
Universal Technical Institute, Inc. COM 913915104   50,700 1,496 SH   SOLE   1,496 0 0
VeriSign, Inc. COM 92343E102   14,730 51 SH   SOLE   51 0 0
TeraWulf Inc. COM 88080T104   69,495 15,866 SH   SOLE   15,866 0 0