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   21,960,929 377,660 SH   SOLE   377,660 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   21,668,005 183,705 SH   SOLE   183,705 0 0
AMERICAN TOWER CORP NEW COM 03027X100   17,423,647 90,857 SH   SOLE   90,857 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   612,700 22,000 SH   SOLE   22,000 0 0
AVALONBAY CMNTYS INC COM 053484101   32,632,695 187,157 SH   SOLE   187,157 0 0
BRIXMOR PPTY GROUP INC COM 11120U105   615,615 27,300 SH   SOLE   27,300 0 0
CBRE GROUP INC CL A 12504L109   4,281,580 48,500 SH   SOLE   48,500 0 0
CROWN CASTLE INC COM 22822V101   3,115,872 28,800 SH   SOLE   28,800 0 0
CUBESMART COM 229663109   5,009,822 114,720 SH   SOLE   114,720 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301   611,667 65,700 SH   SOLE   65,700 0 0
DIGITAL RLTY TR INC COM 253868103   19,785,442 137,590 SH   SOLE   137,590 0 0
EQUINIX INC COM 29444U700   47,675,378 56,090 SH   SOLE   56,090 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108   613,522 9,100 SH   SOLE   9,100 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   20,106,274 339,633 SH   SOLE   339,633 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   10,033,142 407,520 SH   SOLE   407,520 0 0
EXTRA SPACE STORAGE INC COM 30225T102   35,813,041 252,169 SH   SOLE   252,169 0 0
FIRST INDL RLTY TR INC COM 32054K103   843,492 15,600 SH   SOLE   15,600 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   15,676,574 995,338 SH   SOLE   995,338 0 0
HUDSON PAC PPTYS INC COM 444097109   12,714,456 1,581,400 SH   SOLE   1,581,400 0 0
INTERCONTINENTAL HOTELS GROU SPONSORED ADS 45857P806   627,264 6,400 SH   SOLE   6,400 0 0
INVITATION HOMES INC COM 46187W107   29,082,810 883,976 SH   SOLE   883,976 0 0
ISHARES TR U.S. REAL ES ETF 464287739   7,637,793 87,700 SH   SOLE   87,700 0 0
KIMCO RLTY CORP COM 49446R109   16,258,067 820,700 SH   SOLE   820,700 0 0
KITE RLTY GROUP TR COM NEW 49803T300   21,683,479 1,000,622 SH   SOLE   1,000,622 0 0
LTC PPTYS INC COM 502175102   602,546 19,300 SH   SOLE   19,300 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102   593,819 19,100 SH   SOLE   19,100 0 0
PARK HOTELS & RESORTS INC COM 700517105   10,152,318 666,600 SH   SOLE   666,600 0 0
PROLOGIS INC. COM 74340W103   70,169,389 531,385 SH   SOLE   531,385 0 0
REALTY INCOME CORP COM 756109104   36,326,499 689,700 SH   SOLE   689,700 0 0
REXFORD INDL RLTY INC COM 76169C100   12,939,233 247,215 SH   SOLE   247,215 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   13,102,894 60,760 SH   SOLE   60,760 0 0
SUN CMNTYS INC COM 866674104   16,353,694 129,884 SH   SOLE   129,884 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101   607,940 56,500 SH   SOLE   56,500 0 0
TRI POINTE HOMES INC COM 87265H109   624,530 17,300 SH   SOLE   17,300 0 0
UDR INC COM 902653104   609,314 17,130 SH   SOLE   17,130 0 0
UNITED HOMES GROUP INC CL A 91060H108   179,738 25,068 SH   SOLE   25,068 0 0
VENTAS INC COM 92276F100   9,078,776 200,503 SH   SOLE   200,503 0 0
VICI PPTYS INC COM 925652109   22,659,847 762,701 SH   SOLE   762,701 0 0
WELLTOWER INC COM 95040Q104   16,218,725 185,251 SH   SOLE   185,251 0 0