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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 19,795 119,940 SH   SOLE   119,940 0 0
AMERICAN TOWER CORP NEW COM 03027X100 3,577 13,540 SH   SOLE   13,540 0 0
AMERICOLD RLTY TR COM 03064D108 17,397 473,890 SH   SOLE   473,890 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 6,083 645,800 SH   SOLE   645,800 0 0
CAMDEN PPTY TR SH BEN INT 133131102 5,586 59,700 SH   SOLE   59,700 0 0
COUSINS PPTYS INC COM NEW 222795502 5,479 182,200 SH   SOLE   182,200 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 17,659 103,441 SH   SOLE   103,441 0 0
CUBESMART COM 229663109 5,067 177,278 SH   SOLE   177,278 0 0
DIGITAL RLTY TR INC COM 253868103 2,163 14,560 SH   SOLE   14,560 0 0
EQUINIX INC COM 29444U700 20,330 28,298 SH   SOLE   28,298 0 0
ESSEX PPTY TR INC COM 297178105 23,935 100,972 SH   SOLE   100,972 0 0
EXTRA SPACE STORAGE INC COM 30225T102 21,739 223,535 SH   SOLE   223,535 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 8,916 104,229 SH   SOLE   104,229 0 0
GRANITE PT MTG TR INC COM STK 38741L107 17,083 2,538,315 SH   SOLE   2,538,315 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 16,824 631,055 SH   SOLE   631,055 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 14,615 513,359 SH   SOLE   513,359 0 0
HIGHWOODS PPTYS INC COM 431284108 4,419 116,746 SH   SOLE   116,746 0 0
HUDSON PAC PPTYS INC COM 444097109 22,219 877,526 SH   SOLE   877,526 0 0
INVITATION HOMES INC COM 46187W107 22,467 795,859 SH   SOLE   795,859 0 0
KIMCO RLTY CORP COM 49446R109 18,579 1,456,027 SH   SOLE   1,456,027 0 0
MARRIOTT INTL INC NEW CL A 571903202 10,997 125,250 SH   SOLE   125,250 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 3,060 160,795 SH   SOLE   160,795 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 21,038 772,039 SH   SOLE   772,039 0 0
PROLOGIS INC. COM 74340W103 17,702 185,265 SH   SOLE   185,265 0 0
REXFORD INDL RLTY INC COM 76169C100 22,601 527,066 SH   SOLE   527,066 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 12,026 351,121 SH   SOLE   351,121 0 0
STAG INDL INC COM 85254J102 6,033 201,758 SH   SOLE   201,758 0 0
STARWOOD PPTY TR INC COM 85571B105 23,041 1,589,003 SH   SOLE   1,589,003 0 0
SUN CMNTYS INC COM 866674104 19,844 141,086 SH   SOLE   141,086 0 0
TPG RE FIN TR INC COM 87266M107 10,932 1,375,124 SH   SOLE   1,375,124 0 0
UDR INC COM 902653104 13,004 337,142 SH   SOLE   337,142 0 0
URBAN EDGE PPTYS COM 91704F104 3,670 319,391 SH   SOLE   319,391 0 0
VEREIT INC COM 92339V100 19,449 3,020,095 SH   SOLE   3,020,095 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 4,440 232,956 SH   SOLE   232,956 0 0
WELLTOWER INC COM 95040Q104 19,668 373,700 SH   SOLE   373,700 0 0