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
ACADIA RLTY TR COM SH BEN INT 004239109 1,098 50,000 SH   SOLE   50,000 0 0
AGREE RLTY CORP COM 008492100 1,938 27,500 SH   SOLE   27,500 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 1,910 10,500 SH   SOLE   10,500 0 0
AMERICAN ASSETS TR INC COM 024013104 2,797 75,000 SH   SOLE   75,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,621 6,000 SH   SOLE   6,000 0 0
AMERICOLD RLTY TR COM 03064D108 2,460 65,000 SH   SOLE   65,000 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 404 29,500 SH Put SOLE   29,500 0 0
CARETRUST REIT INC COM 14174T107 4,878 210,000 SH   SOLE   210,000 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 3,061 176,000 SH   SOLE   176,000 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 2,239 80,000 SH   SOLE   80,000 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 1,455 150,000 SH   SOLE   150,000 0 0
DIGITAL RLTY TR INC COM 253868103 1,580 10,500 SH   SOLE   10,500 0 0
DUKE REALTY CORP COM NEW 264411505 2,368 50,000 SH   SOLE   50,000 0 0
EMPIRE ST RLTY TR INC CL A 292104106 150 12,500 SH Put SOLE   12,500 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 2,266 30,500 SH   SOLE   30,500 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 770 10,000 SH   SOLE   10,000 0 0
FIRST INDL RLTY TR INC COM 32054K103 2,220 42,500 SH   SOLE   42,500 0 0
FRANKLIN STR PPTYS CORP COM 35471R106 526 100,000 SH   SOLE   100,000 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 3,475 75,000 SH   SOLE   75,000 0 0
HEALTHCARE RLTY TR COM 421946104 6,040 200,000 SH   SOLE   200,000 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 2,670 100,000 SH   SOLE   100,000 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 2,830 85,000 SH   SOLE   85,000 0 0
HIGHWOODS PPTYS INC COM 431284108 3,456 76,500 SH   SOLE   76,500 0 0
HUDSON PAC PPTYS INC COM 444097109 3,895 140,000 SH   SOLE   140,000 0 0
INVITATION HOMES INC COM 46187W107 7,458 200,000 SH   SOLE   200,000 0 0
ISHARES TR U.S. REAL ES ETF 464287739 1,172 11,500 SH Put SOLE   11,500 0 0
ISHARES TR U.S. REAL ES ETF 464287739 1,019 10,000 SH Put SOLE   10,000 0 0
ISHARES TR U.S. REAL ES ETF 464287739 510 5,000 SH Put SOLE   5,000 0 0
ISHARES TR U.S. REAL ES ETF 464287739 917 9,000 SH Put SOLE   9,000 0 0
KILROY RLTY CORP COM 49427F108 3,830 55,000 SH   SOLE   55,000 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 6,225 170,000 SH   SOLE   170,000 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106 3,633 77,500 SH   SOLE   77,500 0 0
PARAMOUNT GROUP INC COM 69924R108 400 40,500 SH Call SOLE   40,500 0 0
PARK HOTELS & RESORTS INC COM 700517105 1,855 90,000 SH   SOLE   90,000 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 5,541 300,000 SH   SOLE   300,000 0 0
REGENCY CTRS CORP COM 758849103 3,204 50,000 SH   SOLE   50,000 0 0
RPT REALTY SH BEN INT 74971D101 5,192 400,000 SH   SOLE   400,000 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 2,392 50,000 SH   SOLE   50,000 0 0
SUN CMNTYS INC COM 866674104 2,485 14,500 SH   SOLE   14,500 0 0
UDR INC COM 902653104 6,612 135,000 SH   SOLE   135,000 0 0
VENTAS INC COM 92276F100 1,428 25,000 SH   SOLE   25,000 0 0
VEREIT INC COM 92339V308 5,282 115,000 SH   SOLE   115,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 1,867 40,000 SH   SOLE   40,000 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 575 25,000 SH Put SOLE   25,000 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 690 30,000 SH Call SOLE   30,000 0 0
WELLTOWER INC COM 95040Q104 1,537 18,500 SH   SOLE   18,500 0 0