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
ASSURANT INC COM 04621X108 7,282 53,459 SH   SOLE   53,459 0 0
AFFILIATED MANAGERS GROUP IN COM 008252108 14,443 142,012 SH   SOLE   142,012 0 0
APOLLO GLOBAL MGMT INC COM CL A 03768E105 14,645 299,001 SH   SOLE   299,001 0 0
AEQUI ACQUISITION CORP UNIT 11/30/2027 00775W201 2,806 277,791 SH   SOLE   277,791 0 0
ATHENE HOLDING LTD CL A G0684D107 4,394 101,856 SH   SOLE   101,856 0 0
BK OF AMERICA CORP COM 060505104 18,158 599,075 SH   SOLE   599,075 0 0
BAIN CAP SPECIALTY FIN INC COM STK 05684B107 2,908 239,759 SH   SOLE   239,759 0 0
BANK NEW YORK MELLON CORP COM 064058100 11,326 266,870 SH   SOLE   266,870 0 0
BLACKROCK INC COM 09247X101 10,652 14,763 SH   SOLE   14,763 0 0
BROADSTONE NET LEASE INC CL A COM 11135E104 6,033 308,121 SH   SOLE   308,121 0 0
POPULAR INC COM NEW 733174700 18,450 327,589 SH   SOLE   327,589 0 0
BROWN & BROWN INC COM 115236101 4,000 84,378 SH   SOLE   84,378 0 0
BRP GROUP INC COM CL A 05589G102 2,736 91,277 SH   SOLE   91,277 0 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103 15,838 821,464 SH   SOLE   821,464 0 0
BOSTON PROPERTIES INC COM 101121101 13,678 144,695 SH   SOLE   144,695 0 0
CITIGROUP INC COM NEW 172967424 30,526 495,072 SH   SOLE   495,072 0 0
CADENCE BANCORPORATION CL A 12739A100 5,720 348,386 SH   SOLE   348,386 0 0
CASCADE ACQUISITION CORP UNIT 99/99/9999 147151203 1,451 138,895 SH   SOLE   138,895 0 0
CITIZENS FINL GROUP INC COM 174610105 21,239 593,939 SH   SOLE   593,939 0 0
CF ACQUISITION CORP IV UNIT 12/31/2027 12520T201 1,477 143,539 SH   SOLE   143,539 0 0
CARLYLE GROUP INC COM 14316J108 6,355 202,143 SH   SOLE   202,143 0 0
COMERICA INC COM 200340107 16,620 297,533 SH   SOLE   297,533 0 0
CME GROUP INC COM 12572Q105 16,059 88,211 SH   SOLE   88,211 0 0
AMERICOLD RLTY TR COM 03064D108 9,850 263,867 SH   SOLE   263,867 0 0
CUBESMART COM 229663109 7,391 219,911 SH   SOLE   219,911 0 0
DISCOVER FINL SVCS COM 254709108 21,006 232,036 SH   SOLE   232,036 0 0
DUKE REALTY CORP COM NEW 264411505 3,130 78,309 SH   SOLE   78,309 0 0
DELWINDS INS ACQUISITION COR UNIT 99/99/9999 24803C201 2,361 231,515 SH   SOLE   231,515 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 8,113 128,052 SH   SOLE   128,052 0 0
AXA EQUITABLE HLDGS INC COM 29452E101 2,893 113,056 SH   SOLE   113,056 0 0
EAST WEST BANCORP INC COM 27579R104 14,567 287,264 SH   SOLE   287,264 0 0
FIRST HORIZON NATL CORP COM 320517105 13,473 1,055,846 SH   SOLE   1,055,846 0 0
FIFTH THIRD BANCORP COM 316773100 20,550 745,379 SH   SOLE   745,379 0 0
FIRST MIDWEST BANCORP DEL COM 320867104 5,595 351,441 SH   SOLE   351,441 0 0
FIRST INDL RLTY TR INC COM 32054K103 2,407 57,130 SH   SOLE   57,130 0 0
GCM GROSVENOR INC COM CL A 36831E108 4,202 315,484 SH   SOLE   315,484 0 0
GUILD HLDGS CO CL A 40172N107 3,260 192,455 SH   SOLE   192,455 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 26,834 101,754 SH   SOLE   101,754 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 3,493 71,306 SH   SOLE   71,306 0 0
HIGHWOODS PPTYS INC COM 431284108 14,195 358,195 SH   SOLE   358,195 0 0
HOULIHAN LOKEY INC CL A 441593100 3,561 52,967 SH   SOLE   52,967 0 0
HUDSON PAC PPTYS INC COM 444097109 7,781 323,934 SH   SOLE   323,934 0 0
HEALTHCARE RLTY TR COM 421946104 5,457 184,350 SH   SOLE   184,350 0 0
HOST HOTELS & RESORTS INC COM 44107P104 3,730 254,979 SH   SOLE   254,979 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 13,447 395,255 SH   SOLE   395,255 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 12,819 111,193 SH   SOLE   111,193 0 0
KEYCORP NEW COM 493267108 11,200 682,506 SH   SOLE   682,506 0 0
KKR & CO INC COM 48251W104 11,633 287,306 SH   SOLE   287,306 0 0
LANDCADIA HOLDINGS III INC UNIT 99/99/9999 51476H209 2,076 185,879 SH   SOLE   185,879 0 0
L&F ACQUISITION CORP UNIT 99/99/9999 G53702125 1,920 185,194 SH   SOLE   185,194 0 0
LPL FINL HLDGS INC COM 50212V100 7,219 69,267 SH   SOLE   69,267 0 0
LIFE STORAGE INC COM 53223X107 12,947 108,445 SH   SOLE   108,445 0 0
MID AMER APT CMNTYS INC COM 59522J103 9,464 74,705 SH   SOLE   74,705 0 0
MOELIS & CO CL A 60786M105 4,048 86,575 SH   SOLE   86,575 0 0
MIDWEST HLDG INC COM NEW 59833J206 2,484 46,302 SH   SOLE   46,302 0 0
MARKEL CORP COM 570535104 2,191 2,120 SH   SOLE   2,120 0 0
NETSTREIT CORP COM 64119V303 5,375 275,802 SH   SOLE   275,802 0 0
NEW YORK COMMUNITY BANCORP COM 649445103 6,286 595,862 SH   SOLE   595,862 0 0
OWL ROCK CAPITAL CORPORATION COM 69121K104 6,089 480,948 SH   SOLE   480,948 0 0
PACWEST BANCORP DEL COM 695263103 8,771 345,306 SH   SOLE   345,306 0 0
PAYA HOLDINGS INC COM CL A 70434P103 1,974 145,333 SH   SOLE   145,333 0 0
PLYMOUTH INDL REIT INC COM 729640102 5,284 352,262 SH   SOLE   352,262 0 0
RAYMOND JAMES FINL INC COM 754730109 28,768 300,703 SH   SOLE   300,703 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 7,870 47,460 SH   SOLE   47,460 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 15,878 117,364 SH   SOLE   117,364 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 4,563 262,668 SH   SOLE   262,668 0 0
THE CHARLES SCHWAB CORPORATI COM 808513105 7,596 143,204 SH   SOLE   143,204 0 0
SOLAR CAP LTD COM 83413U100 3,297 188,287 SH   SOLE   188,287 0 0
SYNOVUS FINL CORP COM NEW 87161C501 11,737 362,593 SH   SOLE   362,593 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 17,398 433,103 SH   SOLE   433,103 0 0
STAG INDL INC COM 85254J102 8,077 257,890 SH   SOLE   257,890 0 0
SUN CMNTYS INC COM 866674104 6,335 41,694 SH   SOLE   41,694 0 0
SEVEN OAKS ACQUISITION CORP UNIT 12/18/2025 81787X205 1,917 185,212 SH   SOLE   185,212 0 0
SYNCHRONY FINANCIAL COM 87165B103 19,022 548,039 SH   SOLE   548,039 0 0
TRUIST FINL CORP COM 89832Q109 20,686 431,581 SH   SOLE   431,581 0 0
TREAN INS GROUP INC COM 89457R101 1,577 120,376 SH   SOLE   120,376 0 0
TRAVELERS COMPANIES INC COM 89417E109 5,219 37,181 SH   SOLE   37,181 0 0
SIXTH STREET SPECIALTY LENDN COM 83012A109 2,514 121,176 SH   SOLE   121,176 0 0
UDR INC COM 902653104 21,050 547,741 SH   SOLE   547,741 0 0
URBAN EDGE PPTYS COM 91704F104 10,648 822,887 SH   SOLE   822,887 0 0
UMPQUA HLDGS CORP COM 904214103 13,210 872,519 SH   SOLE   872,519 0 0
US BANCORP COM NEW 902973304 39,428 846,281 SH   SOLE   846,281 0 0
VEREIT INC COM 92339V308 19,108 505,625 SH   SOLE   505,625 0 0
VICI PPTYS INC COM 925652109 11,330 444,319 SH   SOLE   444,319 0 0
VPC IMPACT ACQUISITION HLDNG UNIT 09/22/2025 G9441E126 1,981 185,144 SH   SOLE   185,144 0 0
VIRTU FINL INC CL A 928254101 1,400 55,619 SH   SOLE   55,619 0 0
VOYA FINANCIAL INC COM 929089100 10,680 181,595 SH   SOLE   181,595 0 0
VIRTUS INVT PARTNERS INC COM 92828Q109 3,316 15,280 SH   SOLE   15,280 0 0
VENTAS INC COM 92276F100 9,990 203,720 SH   SOLE   203,720 0 0
WISDOMTREE INVTS INC COM 97717P104 5,557 1,038,784 SH   SOLE   1,038,784 0 0
BERKLEY W R CORP COM 084423102 9,891 148,921 SH   SOLE   148,921 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 21,678 1,000,354 SH   SOLE   1,000,354 0 0
WINTRUST FINL CORP COM 97650W108 9,645 157,878 SH   SOLE   157,878 0 0
YELLOWSTONE ACQUISITION CO COM CL A 98566K105 1,874 185,166 SH   SOLE   185,166 0 0
YELLOWSTONE ACQUISITION CO *W EXP 10/21/202 98566K113 115 92,583 SH   SOLE   92,583 0 0