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
DIGITAL RLTY TR INC COM 253868103   15,019,792 124,110 SH   OTR 1 124,110 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   13,544,406 770,444 SH   SOLE 0 770,444 0 0
DIGITAL RLTY TR INC COM 253868103   13,279,888 109,733 SH   SOLE 0 109,733 0 0
AMERICAN TOWER CORP NEW COM 03027X100   12,515,961 76,108 SH   SOLE 0 76,108 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   12,265,127 697,675 SH   OTR 1 697,675 0 0
AMERICAN TOWER CORP NEW COM 03027X100   11,451,805 69,637 SH   OTR 1 69,637 0 0
EQUINIX INC COM 29444U700   10,587,418 14,578 SH   SOLE 0 14,578 0 0
EQUINIX INC COM 29444U700   9,330,988 12,848 SH   OTR 1 12,848 0 0
PROLOGIS INC. COM 74340W103   9,315,281 83,017 SH   SOLE 0 83,017 0 0
FTAI AVIATION LTD SHS G3730V105   9,059,598 254,841 SH   OTR 1 254,841 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   8,843,435 88,346 SH   SOLE 0 88,346 0 0
FTAI AVIATION LTD SHS G3730V105   7,780,864 218,871 SH   SOLE 0 218,871 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   7,518,584 2,334,964 SH   OTR 1 2,334,964 0 0
REXFORD INDL RLTY INC COM 76169C100   7,384,438 149,634 SH   OTR 1 149,634 0 0
PROLOGIS INC. COM 74340W103   7,241,472 64,535 SH   OTR 1 64,535 0 0
REXFORD INDL RLTY INC COM 76169C100   7,214,921 146,199 SH   SOLE 0 146,199 0 0
HUDSON PAC PPTYS INC COM 444097109   7,192,327 1,081,553 SH   OTR 1 1,081,553 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100   7,185,872 155,035 SH   OTR 1 155,035 0 0
MGM RESORTS INTERNATIONAL COM 552953101   7,160,738 194,797 SH   OTR 1 194,797 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   7,054,191 35,241 SH   OTR 1 35,241 0 0
WYNN RESORTS LTD COM 983134107   7,017,708 75,941 SH   OTR 1 75,941 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   6,919,912 2,149,041 SH   SOLE 0 2,149,041 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100   6,743,369 145,488 SH   SOLE 0 145,488 0 0
MGM RESORTS INTERNATIONAL COM 552953101   6,686,938 181,908 SH   SOLE 0 181,908 0 0
HUDSON PAC PPTYS INC COM 444097109   6,511,773 979,214 SH   SOLE 0 979,214 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   6,410,504 64,041 SH   OTR 1 64,041 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   5,866,393 192,910 SH   OTR 1 192,910 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   5,785,514 28,903 SH   SOLE 0 28,903 0 0
WYNN RESORTS LTD COM 983134107   5,764,721 62,382 SH   SOLE 0 62,382 0 0
INVITATION HOMES INC COM 46187W107   5,433,948 171,472 SH   SOLE 0 171,472 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101   5,304,523 70,110 SH   OTR 1 70,110 0 0
SUN CMNTYS INC COM 866674104   5,280,094 44,618 SH   SOLE 0 44,618 0 0
INVITATION HOMES INC COM 46187W107   5,269,065 166,269 SH   OTR 1 166,269 0 0
SUN CMNTYS INC COM 866674104   5,152,169 43,537 SH   OTR 1 43,537 0 0
AMERICAN HOMES 4 RENT CL A 02665T306   5,060,508 150,208 SH   SOLE 0 150,208 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   5,042,738 165,825 SH   SOLE 0 165,825 0 0
AMERICAN HOMES 4 RENT CL A 02665T306   4,846,576 143,858 SH   OTR 1 143,858 0 0
LAS VEGAS SANDS CORP COM 517834107   4,785,375 104,393 SH   OTR 1 104,393 0 0
CROWN CASTLE INC COM 22822V101   4,472,474 48,598 SH   SOLE 0 48,598 0 0
LAS VEGAS SANDS CORP COM 517834107   4,291,312 93,615 SH   SOLE 0 93,615 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   4,170,985 131,411 SH   OTR 1 131,411 0 0
VICI PPTYS INC COM 925652109   4,144,015 142,406 SH   SOLE 0 142,406 0 0
CADIZ INC COM NEW 127537207   3,989,732 1,205,357 SH   OTR 1 1,205,357 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108   3,865,541 60,674 SH   OTR 1 60,674 0 0
EXTRA SPACE STORAGE INC COM 30225T102   3,531,170 29,044 SH   SOLE 0 29,044 0 0
VICI PPTYS INC COM 925652109   3,494,212 120,076 SH   OTR 1 120,076 0 0
CADIZ INC COM NEW 127537207   3,452,611 1,043,085 SH   SOLE 0 1,043,085 0 0
EXTRA SPACE STORAGE INC COM 30225T102   3,394,149 27,917 SH   OTR 1 27,917 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108   3,382,045 53,085 SH   SOLE 0 53,085 0 0
CROWN CASTLE INC COM 22822V101   3,277,188 35,610 SH   OTR 1 35,610 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   2,852,410 89,868 SH   SOLE 0 89,868 0 0
PUBLIC STORAGE COM 74460D109   2,576,962 9,779 SH   SOLE 0 9,779 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101   2,042,820 27,000 SH   SOLE 0 27,000 0 0
COSTAR GROUP INC COM 22160N109   1,896,799 24,669 SH   SOLE 0 24,669 0 0
CBRE GROUP INC CL A 12504L109   1,400,459 18,961 SH   SOLE 0 18,961 0 0
IRON MTN INC DEL COM 46284V101   1,087,935 18,300 SH   SOLE 0 18,300 0 0
BROOKFIELD INFRASTRUCTURE CO COM SB VTG SHS A 11275Q107   854,415 24,177 SH   SOLE 0 24,177 0 0
CUBESMART COM 229663109   711,315 18,655 SH   SOLE 0 18,655 0 0
BROOKFIELD RENEWABLE CORP CL A SUB VTG 11284V105   430,728 17,992 SH   SOLE 0 17,992 0 0