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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGREE RLTY CORP COM 008492100   22,638,035 341,500 SH   SOLE   341,500 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   9,252,912 79,105 SH   SOLE   79,105 0 0
AMERICAN TOWER CORP NEW COM 03027X100   27,740,448 139,849 SH   SOLE   139,849 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   13,096,028 403,700 SH   SOLE   403,700 0 0
BOSTON PROPERTIES INC COM 101121101   365,841 6,300 SH   SOLE   6,300 0 0
CAMDEN PPTY TR SH BEN INT 133131102   30,629,845 279,648 SH   SOLE   279,648 0 0
CHOICE HOTELS INTL INC COM 169905106   375,040 3,200 SH   SOLE   3,200 0 0
CUBESMART COM 229663109   15,480,289 343,930 SH   SOLE   343,930 0 0
D R HORTON INC COM 23331A109   8,065,793 67,615 SH   SOLE   67,615 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301   379,671 46,700 SH   SOLE   46,700 0 0
DIGITAL RLTY TR INC COM 253868103   39,240,395 340,333 SH   SOLE   340,333 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   8,576,615 579,501 SH   SOLE   579,501 0 0
EQUINIX INC COM 29444U700   62,034,692 78,513 SH   SOLE   78,513 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   49,259,762 740,303 SH   SOLE   740,303 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   29,693,536 1,245,012 SH   SOLE   1,245,012 0 0
EXTRA SPACE STORAGE INC COM 30225T102   35,038,901 234,139 SH   SOLE   234,139 0 0
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101   552,786 5,700 SH   SOLE   5,700 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   375,937 18,100 SH   SOLE   18,100 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500   242,874 39,300 SH   SOLE   39,300 0 0
INVITATION HOMES INC COM 46187W107   25,071,935 723,368 SH   SOLE   723,368 0 0
KIMCO RLTY CORP COM 49446R109   555,500 27,500 SH   SOLE   27,500 0 0
KITE RLTY GROUP TR COM NEW 49803T300   23,682,891 1,041,464 SH   SOLE   1,041,464 0 0
MID-AMER APT CMNTYS INC COM 59522J103   537,705 3,500 SH   SOLE   3,500 0 0
PEBBLEBROOK HOTEL TR COM 70509V100   193,581 13,700 SH   SOLE   13,700 0 0
PROLOGIS INC. COM 74340W103   67,900,396 547,628 SH   SOLE   547,628 0 0
REXFORD INDL RLTY INC COM 76169C100   32,696,686 616,221 SH   SOLE   616,221 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   385,552 1,600 SH   SOLE   1,600 0 0
SITE CTRS CORP COM 82981J109   555,685 41,500 SH   SOLE   41,500 0 0
SUN CMNTYS INC COM 866674104   33,480,720 255,500 SH   SOLE   255,500 0 0
TERRENO RLTY CORP COM 88146M101   548,366 9,100 SH   SOLE   9,100 0 0
TOLL BROTHERS INC COM 889478103   8,744,516 112,600 SH   SOLE   112,600 0 0
TRICON RESIDENTIAL INC COM NPV 89612W102   340,064 37,452 SH   SOLE   37,452 0 0
UDR INC COM 902653104   17,885,271 412,198 SH   SOLE   412,198 0 0
UNITED HOMES GROUP INC CL A 91060H108   261,363 24,868 SH   SOLE   24,868 0 0
URBAN EDGE PPTYS COM 91704F104   555,072 35,400 SH   SOLE   35,400 0 0
VENTAS INC COM 92276F100   380,484 7,800 SH   SOLE   7,800 0 0
VICI PPTYS INC COM 925652109   22,617,472 721,911 SH   SOLE   721,911 0 0
WELLTOWER INC COM 95040Q104   57,795,452 711,942 SH   SOLE   711,942 0 0