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 34,306 229,749 SH   SOLE   229,749 0 0
AMERICAN TOWER CORP NEW COM 03027X100 26,961 105,340 SH   SOLE   105,340 0 0
DIGITALBRIDGE GROUP INC CL A COM 25401T108 16,008 3,138,800 SH   SOLE   3,138,800 0 0
EQUINIX INC COM 29444U700 40,410 60,570 SH   SOLE   60,570 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 54,188 749,901 SH   SOLE   749,901 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 15,109 695,622 SH   SOLE   695,622 0 0
ESSEX PPTY TR INC COM 297178105 40,207 152,012 SH   SOLE   152,012 0 0
EXTRA SPACE STORAGE INC COM 30225T102 16,159 94,019 SH   SOLE   94,019 0 0
HOST HOTELS & RESORTS INC COM 44107P104 13,065 825,869 SH   SOLE   825,869 0 0
INDUS REALTY TRUST INC COM 45580R103 26,444 441,022 SH   SOLE   441,022 0 0
INVITATION HOMES INC COM 46187W107 37,799 1,047,364 SH   SOLE   1,047,364 0 0
KILROY RLTY CORP COM 49427F108 13,688 250,381 SH   SOLE   250,381 0 0
KIMCO RLTY CORP COM 49446R109 20,328 1,010,860 SH   SOLE   1,010,860 0 0
KITE RLTY GROUP TR COM NEW 49803T300 14,671 829,360 SH   SOLE   829,360 0 0
PARK HOTELS & RESORTS INC COM 700517105 10,974 806,337 SH   SOLE   806,337 0 0
PROLOGIS INC. COM 74340W103 64,976 535,090 SH   SOLE   535,090 0 0
PUBLIC STORAGE COM 74460D109 58,014 184,342 SH   SOLE   184,342 0 0
RADIUS GLOBAL INFRASTRCTRE I COM CL A 750481103 47,126 3,017,026 SH   SOLE   3,017,026 0 0
REXFORD INDL RLTY INC COM 76169C100 47,754 811,869 SH   SOLE   811,869 0 0
SUN CMNTYS INC COM 866674104 44,474 276,047 SH   SOLE   276,047 0 0
TPG RE FIN TR INC COM 87266M107 5,680 599,737 SH   SOLE   599,737 0 0
UDR INC COM 902653104 20,428 445,937 SH   SOLE   445,937 0 0
VICI PPTYS INC COM 925652109 13,185 429,473 SH   SOLE   429,473 0 0
WELLTOWER INC COM 95040Q104 53,629 651,158 SH   SOLE   651,158 0 0
WHITESTONE REIT COM 966084204 9,696 912,985 SH   SOLE   912,985 0 0