NPORT-P false 0000754510 XXXXXXXX S000007192 C000019680 C000205040 C000087890 C000087887 C000087889 C000087891 Fidelity Securities Fund 811-04118 0000754510 LIUMB3NDWOFJPXVROE85 245 Summer Street Boston 02210 1-800-FIDELITY Fidelity Real Estate Income Fund S000007192 KYIURORXMOJZHC2FKE02 2024-07-31 2024-04-30 N 4494476087.75 6553902.33 4487922185.42 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 477735.58000000 USD N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 253868103 51700.00000000 NS USD 7174926.00000000 0.159871889564 Long EC CORP US N 1 N N N EQUINIX INC 549300EVUN2BTLJ3GT74 29444UBE5 10000000.00000000 PA USD 8816870.30000000 0.196457735578 Long DBT CORP US N 2 2029-11-18 Fixed 0.03200000 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460W396 100000.00000000 NS USD 1797000.00000000 0.040040801193 Long EP CORP US N 1 N N N EXTRA SPACE STORAGE LP 549300YNKSKNZFR8UC42 30225VAS6 12000000.00000000 PA USD 11491875.72000000 0.256062276599 Long DBT CORP US N 2 2034-02-01 Fixed 0.05400000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2011-C3 N/A 46635TBK7 4671000.00000000 PA USD 537103.81000000 0.011967761200 Long ABS-MBS CORP US N 2 2046-02-15 Variable 0.04409000 N N N N N N GS MTG SECS CORP TR 2023-SHIP N/A 36270GAJ0 18500000.00000000 PA USD 18227162.00000000 0.406138102376 Long ABS-MBS CORP US N 2 2038-09-10 Variable 0.07681387 N N N N N N SERITAGE GROWTH PPTYS 5493003CJFC2MM82WB25 81752R308 91986.00000000 NS USD 2203055.50000000 0.049088540508 Long EP CORP US N 1 N N N NEW RESIDENTIAL MORTGAGE LOAN TRUST 2022-SFR2 N/A 64830RAJ1 2900000.00000000 PA USD 2558549.07000000 0.057009657571 Long ABS-CBDO CORP US N 2 2039-09-04 Fixed 0.04000000 N N N N N N Morgan Stanley Capital I Trust N/A 61770KBC8 2765000.00000000 PA USD 2031052.32000000 0.045255961134 Long ABS-MBS CORP US N 2 2053-02-15 Fixed 0.03536000 N N N N N N REALTY INCOME CORP 549300CUWDAUZSH43859 756109BP8 5000000.00000000 PA USD 4968289.80000000 0.110703563803 Long DBT CORP US N 2 2032-10-13 Fixed 0.05625000 N N N N N N MSWF COMMERCIAL MORTGAGE TRUST 23-2 N/A 55361AAY0 10000000.00000000 PA USD 10355527.00000000 0.230742124576 Long ABS-MBS CORP US N 2 2056-12-15 Variable 0.07110128 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460W537 28000.00000000 NS USD 512400.00000000 0.011417310256 Long EP CORP US N 1 N N N WP CAREY INC 54930042CRNE713E3Q67 92936UAH2 5000000.00000000 PA USD 3721323.20000000 0.082918621273 Long DBT CORP US N 2 2033-04-01 Fixed 0.02250000 N N N N N N EQUINIX INC 549300EVUN2BTLJ3GT74 29444U700 72100.00000000 NS USD 51271031.00000000 1.142422459252 Long EC CORP US N 1 N N N UBS COML MTG TR 2012-C1 N/A 90269GAS0 2221350.00000000 PA USD 277668.75000000 0.006187022379 Long ABS-MBS CORP US N 3 2045-05-10 Variable 0.05000000 N N N N N N CUBESMART LP 549300MPHKO3I3FJRA97 22966RAE6 12000000.00000000 PA USD 11298744.12000000 0.251758913216 Long DBT CORP US N 2 2029-02-15 Fixed 0.04375000 N N N N N N BANK 2022-BNK41 N/A 06540MCA1 4433000.00000000 PA USD 3396019.78000000 0.075670201926 Long ABS-MBS CORP US N 3 2065-04-15 Variable 0.03916531 N N N N N N BRE/EVERBRIGHT M6 BORROWER LLC N/A 05601QAB0 7785120.00000000 PA USD 7798743.96000000 0.173771817731 Long LON CORP US N 2 2026-09-09 Variable 0.10424040 N N N N N N COSTAR GROUP INC N/A 22160NAA7 2000000.00000000 PA USD 1660320.96000000 0.036995315235 Long DBT CORP US N 2 2030-07-15 Fixed 0.02800000 N N N N N N BMO 2023-5C1 MTG TR N/A 055986AF0 3500000.00000000 PA USD 3602780.30000000 0.080277245262 Long ABS-MBS CORP US N 2 2056-08-15 Variable 0.07117694 N N N N N N HOWARD HUGHES CORP 549300BVHY25JZC1KI49 44267DAD9 2515000.00000000 PA USD 2366693.49000000 0.052734726499 Long DBT CORP US N 2 2028-08-01 Fixed 0.05375000 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6 N/A 61761DAU6 2500000.00000000 PA USD 874017.75000000 0.019474886459 Long ABS-MBS CORP US N 3 2045-11-15 Variable 0.04535835 N N N N N N CENTURY CMNTYS INC 5299002QMB2O7ZL1CA26 156504AL6 4670000.00000000 PA USD 4679148.53000000 0.104260910432 Long DBT CORP US N 2 2027-06-01 Fixed 0.06750000 N N N N N N CREDIT SUISSE MORTGAGE TRUST 2021 N/A 12658RAA8 8146317.63000000 PA USD 7782807.76000000 0.173416726905 Long ABS-MBS CORP US N 2 2026-05-15 Variable 0.08894680 N N N N N N SAFEHOLD OPERATING PARTNERSHIP LP 54930012UY5Z4Q8NL108 78646UAA7 7000000.00000000 PA USD 5728207.03000000 0.127636059480 Long DBT CORP US N 2 2031-06-15 Fixed 0.02800000 N N N N N N BX 2021-VOLT N/A 05609VAQ8 10000000.00000000 PA USD 9900000.00000000 0.220592059999 Long ABS-MBS CORP US N 2 2036-09-15 Variable 0.07835460 N N N N N N RHP HOTEL PPTYS LP and RHP FIN CORP N/A 749571AK1 8000000.00000000 PA USD 7840487.92000000 0.174701957744 Long DBT CORP US N 2 2032-04-01 Fixed 0.06500000 N N N N N N EXTRA SPACE STORAGE INC N/A 30225T102 198049.00000000 NS USD 26594019.72000000 0.592568645828 Long EC CORP US N 1 N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C9 549300PFVBG5704L7K74 61762DAG6 5137000.00000000 PA USD 4330112.40000000 0.096483678216 Long ABS-MBS CORP US N 2 2046-05-15 Variable 0.03941129 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460W420 45700.00000000 NS USD 802226.94000000 0.017875241745 Long EP CORP US N 1 N N N RITHM CAPITAL CORP 549300WNTHGEO5LP2G31 64828T508 1074554.00000000 NS USD 24338648.10000000 0.542314396160 Long EP CORP US N 1 N N N SREIT TR 2021-MFP N/A 78472UAN8 3706886.84000000 PA USD 3632749.10000000 0.080945010851 Long ABS-MBS CORP US N 2 2038-11-15 Variable 0.08409260 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027XCH1 29000000.00000000 PA USD 28174725.54000000 0.627789974423 Long DBT CORP US N 2 2034-02-15 Fixed 0.05450000 N N N N N N ARMADA HOFFLER PROPERTIES INC 549300WQRSIV6XZT9313 04208T207 255050.00000000 NS USD 5605999.00000000 0.124913016946 Long EP CORP US N 1 N N N HEALTHCARE REALTY TRUST INC 549300L0I14L7I0VLX84 42226K105 186360.00000000 NS USD 2651902.80000000 0.059089767835 Long EC CORP US N 1 N N N COMM 2017-COR2 N/A 12595EAN5 2769000.00000000 PA USD 2106121.06000000 0.046928644771 Long ABS-MBS CORP US N 2 2050-09-10 Fixed 0.03000000 N N N N N N VASA TR 2021-VASA N/A 92230AAL0 6685000.00000000 PA USD 3418344.00000000 0.076167630782 Long ABS-MBS CORP US N 2 2039-07-15 Variable 0.09335480 N N N N N N XHR LP 549300M88BPT83ZL2164 98372MAA3 4250000.00000000 PA USD 4245313.95000000 0.094594196926 Long DBT CORP US N 2 2025-08-15 Fixed 0.06375000 N N N N N N PENNYMAC MORTGAGE INVESTMENT TRUST 549300BSSOQO1ZWDUJ97 70931T509 217700.00000000 NS USD 4099291.00000000 0.091340509720 Long EP CORP US N 1 N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 903002509 694525.00000000 NS USD 15196207.00000000 0.338602283465 Long EP CORP US N 1 N N N DYNEX CAPITAL INC 5CIJ4S9HAEBWILA19B65 26817Q878 298683.00000000 NS USD 7234102.26000000 0.161190456543 Long EP CORP US N 1 N N N GLP CAP LP / GLP FING II INC N/A 361841AP4 3000000.00000000 PA USD 2686617.30000000 0.059863277236 Long DBT CORP US N 2 2030-01-15 Fixed 0.04000000 N N N N N N EG GLOBAL FINANCE PLC 549300TL8Q5207VYET27 28228PAC5 10000000.00000000 PA USD 10322978.00000000 0.230016866904 Long DBT CORP GB N 2 2028-11-30 Fixed 0.12000000 N N N N N N SAFEHOLD OPERATING PARTNERSHIP LP 54930012UY5Z4Q8NL108 78646UAB5 18250000.00000000 PA USD 14637149.34000000 0.326145346003 Long DBT CORP US N 2 2032-01-15 Fixed 0.02850000 N N N N N N CBL and ASSOCS LTD PARTNERSHIP 549300VS75TWHD9JTH89 12505JAA1 11371000.00000000 PA USD 1.14000000 0.000000025401 Long DBT CORP US N 3 2049-12-31 Fixed 0.05250000 Y Y N N N N EASTERLY GOVERNMENT PROPERTIES INC 549300ERMCEFC6S8HL77 27616P103 998900.00000000 NS USD 11677141.00000000 0.260190362433 Long EC CORP US N 1 N N N LXP INDUSTRIAL TRUST 549300S4MH2ICXDBFV43 529043101 3254074.00000000 NS USD 27171517.90000000 0.605436475442 Long EC CORP US N 1 N N N VICI PROPERTIES LP 254900X4QE7SGKQLLN38 925650AD5 38000000.00000000 PA USD 35306123.00000000 0.786691959916 Long DBT CORP US N 2 2032-05-15 Fixed 0.05125000 N N N N N N WFRBS COML MTG TR 2011-C3 N/A 92935VAS7 503529.70000000 PA USD 192600.11000000 0.004291520709 Long ABS-MBS CORP US N 2 2044-03-15 Variable 0.06049660 N N N N N N CROWN CASTLE INC 54930012H97VSM0I2R19 22822VBA8 3000000.00000000 PA USD 2925193.77000000 0.065179244406 Long DBT CORP US N 2 2028-01-11 Fixed 0.05000000 N N N N N N ADAMS HOMES INC N/A 00623PAA9 2439000.00000000 PA USD 2434809.31000000 0.054252484989 Long DBT CORP US N 2 2025-02-15 Fixed 0.07500000 N N N N N N BENCHMARK 2022-B34 MORTGAGE TRUST N/A 08161YBG7 10168402.00000000 PA USD 8690315.97000000 0.193637848673 Long ABS-MBS CORP US N 2 2055-04-15 Fixed 0.03786000 N N N N N N BX TR 2022-LBA6 N/A 12433EAS0 11340000.00000000 PA USD 11162899.82000000 0.248732026955 Long ABS-MBS CORP US N 2 2039-01-15 Variable 0.09520980 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T603 76688.00000000 NS USD 1260750.72000000 0.028092080653 Long EC CORP US N 1 N N N AMR HMS 15-SFR2 N/A 02666BAG1 4446874.94380000 PA USD 44.47000000 0.000000990881 Long ABS-CBDO CORP US N 3 2052-10-17 Variable 0.00000000 N N N N N N AGREE LP 549300DXY3G299V1BO77 008513AA1 1500000.00000000 PA USD 1263052.50000000 0.028143368976 Long DBT CORP US N 2 2030-10-01 Fixed 0.02900000 N N N N N N KIMCO REALTY CORP 254900ARY41P4V1JL861 49446R737 49000.00000000 NS USD 1059380.00000000 0.023605132982 Long EP CORP US N 1 N N N NEW FORTRESS ENERGY INC 254900EICTYTCHA5X705 64439HAB5 9975000.00000000 PA USD 10014201.75000000 0.223136706392 Long LON CORP US N 2 2028-10-30 Variable 0.10329500 N N N N N N CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATE N/A 12659XAA4 18000000.00000000 PA USD 15688621.80000000 0.349574282971 Long ABS-MBS CORP US N 2 2026-08-15 Variable 0.09149880 N N N N N N CENTURY CMNTYS INC 5299002QMB2O7ZL1CA26 156504AM4 13005000.00000000 PA USD 11354209.02000000 0.252994783574 Long DBT CORP US N 2 2029-08-15 Fixed 0.03875000 N N N N N N WFRBS COML MTG TR 2013-C13 N/A 92937UAJ7 3737135.41000000 PA USD 3195355.42000000 0.071198993386 Long ABS-MBS CORP US N 2 2045-05-15 Variable 0.04142024 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460WAH0 9000000.00000000 PA USD 8445019.32000000 0.188172142276 Long DBT CORP US N 2 2053-08-01 Fixed 0.05350000 N N N N N N CUSHMAN and WAKEFIELD US BORROWER LLC 549300870CMN3WI5IF97 23340DAQ5 2618004.65800000 PA USD 2621277.16000000 0.058407366520 Long LON CORP US N 2 2030-01-31 Variable 0.08665730 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460W685 25800.00000000 NS USD 584112.00000000 0.013015198924 Long EP CORP US N 1 N N N TERRENO RLTY CORP N/A 88146M101 263828.00000000 NS USD 14339051.80000000 0.319503128788 Long EC CORP US N 1 N N N OPG TR 2021-PORT N/A 67118AAU9 8113299.99850000 PA USD 7819543.37000000 0.174235270731 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.08781480 N N N N N N HILTON GRAND VACATIONS BORROWER LLC 254900HF0EZ734FDVY79 43283LAK7 4000000.00000000 PA USD 4006680.00000000 0.089276948985 Long LON CORP US N 2 2031-01-17 Variable 0.08065730 N N N N N N BENCHMARK 2022-B36 MTG TR N/A 08163QBH0 4900000.00000000 PA USD 4493474.93000000 0.100123726400 Long ABS-MBS CORP US N 2 2055-07-15 Fixed 0.04469900 N N N N N N BMO 2023-C6 MTG TR N/A 055985AE5 14000000.00000000 PA USD 14278839.40000000 0.318161474510 Long ABS-MBS CORP US N 2 2056-09-15 Fixed 0.05956200 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272XAA0 9700000.00000000 PA USD 9675025.80000000 0.215579178966 Long DBT CORP US N 2 2024-06-15 Fixed 0.06250000 N N N N N MFA FINANCIAL INC USD XXXX N N N GS MTG SECS TR 2012-GCJ9 N/A 36192PAK2 4531578.25000000 PA USD 4119204.63000000 0.091784225746 Long ABS-MBS CORP US N 2 2045-11-10 Variable 0.04754281 N N N N N N POSTAL REALTY TRUST INC 5493007B7ZZSIJRGWC41 73757R102 878500.00000000 NS USD 12167225.00000000 0.271110426992 Long EC CORP US N 1 N N N PROLOGIS LP GL16H1DHB0QSHP25F723 74340XCJ8 10000000.00000000 PA USD 9569851.70000000 0.213235686908 Long DBT CORP US N 2 2034-03-15 Fixed 0.05000000 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250N790 111400.00000000 NS USD 2287042.00000000 0.050959929907 Long EP CORP CA N 1 N N N PROLOGIS LP GL16H1DHB0QSHP25F723 74340XCK5 2000000.00000000 PA USD 1825610.68000000 0.040678305117 Long DBT CORP US N 2 2054-03-15 Fixed 0.05250000 N N N N N N CUSHMAN and WAKEFIELD US BORROWER LLC 549300870CMN3WI5IF97 23340DAP7 191082.80200000 PA USD 190700.64000000 0.004249196668 Long LON CORP US N 2 2025-08-21 Variable 0.08180210 N N N N N N WELLTOWER INC 254900F33BIAR82QTA19 95040Q104 654600.00000000 NS USD 62370288.00000000 1.389736395221 Long EC CORP US N 1 N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29273VAM2 6000000.00000000 PA USD 5760687.60000000 0.128359792393 Long EP CORP US N 2 N N N SREIT TR 2021-IND N/A 78473JAS1 12754000.00000000 PA USD 11882826.55000000 0.264773453260 Long ABS-MBS CORP US N 2 2038-10-15 Variable 0.08701255 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V704 281697.00000000 NS USD 5631123.03000000 0.125472831242 Long EP CORP US N 1 N N N WFRBS COML MTG TR 2013-C11 N/A 92937EAL8 4727000.00000000 PA USD 2904303.31000000 0.064713762627 Long ABS-MBS CORP US N 2 2045-03-15 Variable 0.04195885 N N N N N N BENCHMARK 2022-B35 MTG TR N/A 08163RBV7 7000000.00000000 PA USD 5298543.60000000 0.118062287648 Long ABS-MBS CORP US N 2 2055-05-15 Variable 0.04444187 N N N N N N KIMCO REALTY CORP 254900ARY41P4V1JL861 49446R109 1125100.00000000 NS USD 20960613.00000000 0.467044929346 Long EC CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2014-DSTY N/A 46642MAN8 8161000.00000000 PA USD 19904.68000000 0.000443516602 Long ABS-MBS CORP US N 3 2027-06-10 Variable 0.03931420 N N N N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A 46637WAS2 8192000.00000000 PA USD 6799360.00000000 0.151503518088 Long ABS-MBS CORP US N 3 2045-06-15 Fixed 0.04000000 N N N N N N COMM 2018-HCLV MTG TR N/A 20048KAL1 4265000.00000000 PA USD 2097023.73000000 0.046725937825 Long ABS-MBS CORP US N 2 2033-09-15 Variable 0.08667010 N N N N N N GLADSTONE COMMERCIAL CORP 529900EVVV534W8R0T32 376536702 157675.00000000 NS USD 3599720.25000000 0.080209061148 Long EP CORP US N 1 N N N SBA COMMUNICATIONS CORP 5299001HX8ZN8Y8QIT49 78410GAD6 5000000.00000000 PA USD 4698985.00000000 0.104702907177 Long DBT CORP US N 2 2027-02-15 Fixed 0.03875000 N N N N N N ACADIA REALTY TRUST N/A 004239109 646626.00000000 NS USD 11173697.28000000 0.248972616243 Long EC CORP US N 1 N N N BX COMMERCIAL MORTGAGE TRUST 2021-SOAR N/A 05608WAU8 16776548.20000000 PA USD 16569097.79000000 0.369193072104 Long ABS-MBS CORP US N 2 2038-06-15 Variable 0.09185480 N N N N N N BX COMMERCIAL MORTGAGE TRUST 2021-PAC N/A 05609PAS7 17232000.00000000 PA USD 16694856.16000000 0.371995223407 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.08381580 N N N N N N CROWN CASTLE INC 54930012H97VSM0I2R19 22822VBC4 35000000.00000000 PA USD 33052630.10000000 0.736479571935 Long DBT CORP US N 2 2033-05-01 Fixed 0.05100000 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187B200 363526.00000000 NS USD 8317474.88000000 0.185330193714 Long EP CORP US N 1 N N N PROLOGIS LP GL16H1DHB0QSHP25F723 74340XCH2 5000000.00000000 PA USD 4823592.65000000 0.107479418107 Long DBT CORP US N 2 2034-01-15 Fixed 0.05125000 N N N N N N BANK 2022-BNK43 N/A 06541QAZ8 10485000.00000000 PA USD 9619912.01000000 0.214351132050 Long ABS-MBS CORP US N 2 2055-08-15 Fixed 0.04399000 N N N N N N PKHL COML MTG TR 2021-MF N/A 69356GAS8 5944000.00000000 PA USD 3501174.70000000 0.078013266615 Long ABS-MBS CORP US N 3 2038-07-15 Variable 0.09785480 N N N N N N BANK 2022-BNK42 N/A 06541MAL8 2000000.00000000 PA USD 1266063.00000000 0.028210449016 Long ABS-MBS CORP US N 2 2055-06-15 Fixed 0.02500000 N N N N N N CAESARS ENTERTAINMENT INC 5299000BKFWWVND5L441 28470RAK8 17465000.00000000 PA USD 17700740.30000000 0.394408360231 Long DBT CORP US N 2 2027-07-01 Fixed 0.08125000 N N N N N N HEALTHCARE TRUST INC 549300Z2NSUGF5NF2Y30 42226B303 190000.00000000 NS USD 2665700.00000000 0.059397197408 Long EP CORP US N 1 N N N BX TR 2022-LBA6 N/A 12433EAQ4 6200000.00000000 PA USD 6123585.62000000 0.136445895606 Long ABS-MBS CORP US N 2 2039-01-15 Variable 0.08670980 N N N N N N BANK5 2023-5YR4 N/A 06211FBA5 5000000.00000000 PA USD 5218426.00000000 0.116277105181 Long ABS-MBS CORP US N 2 2056-12-15 Variable 0.07274000 N N N N N N BRIXMOR OPERATING PARTNERSHIP LP 549300CJHBL7JBUA6503 11120VAJ2 4000000.00000000 PA USD 3621519.60000000 0.080694794837 Long DBT CORP US N 2 2030-07-01 Fixed 0.04050000 N N N N N N CROWN CASTLE INC 54930012H97VSM0I2R19 22822VBE0 30000000.00000000 PA USD 29716055.10000000 0.662133920158 Long DBT CORP US N 2 2034-03-01 Fixed 0.05800000 N N N N N N EXTRA SPACE STORAGE LP 549300YNKSKNZFR8UC42 30225VAF4 2000000.00000000 PA USD 1621012.96000000 0.036119453346 Long DBT CORP US N 2 2031-06-01 Fixed 0.02550000 N N N N N N SAUL CENTERS INC N/A 804395804 57775.00000000 NS USD 1176876.75000000 0.026223198651 Long EP CORP US N 1 N N N SUN CMNTYS OPER LTD PRTNRSHP 549300PUNBPJCGT6X741 866677AK3 9000000.00000000 PA USD 8844482.25000000 0.197072985773 Long DBT CORP US N 2 2029-01-15 Fixed 0.05500000 N N N N N N NNN REIT INC 5493008JKH5SOTI0JS97 637417106 63000.00000000 NS USD 2553390.00000000 0.056894703038 Long EC CORP US N 1 N N N BANK 2023-BNK46 N/A 06541DBH6 1409000.00000000 PA USD 1417523.18000000 0.031585288724 Long ABS-MBS CORP US N 2 2056-08-15 Fixed 0.05745000 N N N N N N AGREE REALTY CORP N/A 008492209 259800.00000000 NS USD 4338660.00000000 0.096674136064 Long EP CORP US N 1 N N N HILTON GRAND VACATIONS BORROWER ESCROW LLC N/A 43284MAB4 18265000.00000000 PA USD 15902891.66000000 0.354348649619 Long DBT CORP US N 2 2031-07-01 Fixed 0.04875000 N N N N N N AMERICAN HOMES 4 RENT LP 549300N4PXZ37U8QKI55 02666TAE7 27000000.00000000 PA USD 23093636.49000000 0.514573014768 Long DBT CORP US N 2 2032-04-15 Fixed 0.03625000 N N N N N N SABRA HEALTH CARE LP 549300OVKLRFSIQG0H81 78572XAG6 989000.00000000 PA USD 873583.58000000 0.019465212272 Long DBT CORP US N 2 2029-10-15 Fixed 0.03900000 N N N N N N SOTHERLY HOTELS INC 549300IYTT21F61LSR10 83600C400 107000.00000000 NS USD 2051190.00000000 0.045704669449 Long EP CORP US N 1 N N N BX 2024-CNYN N/A 05612HAJ0 18000000.00000000 PA USD 17977500.00000000 0.400575127135 Long ABS-MBS CORP US N 2 2029-04-15 Variable 0.09009620 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2011-C3 N/A 46635TBD3 13774000.00000000 PA USD 5642301.47000000 0.125721909536 Long ABS-MBS CORP US N 3 2046-02-15 Variable 0.05709520 N N N N N N KENNEDY-WILSON INC 5EA4464UK7FM5QNNKL62 489399AN5 8130000.00000000 PA USD 6438941.30000000 0.143472659149 Long DBT CORP US N 2 2030-02-01 Fixed 0.04750000 N N N N N N WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-BNK1 549300DNBJ7A0SEFVK31 95000GAJ3 6979000.00000000 PA USD 3025235.29000000 0.067408372182 Long ABS-MBS CORP US N 2 2049-08-15 Fixed 0.03000000 N N N N N N HILTON WORLDWIDE FINANCE LLC 549300406TN7EY0NPH20 43289DAL7 13500000.00000000 PA USD 13526190.00000000 0.301390920812 Long LON CORP US N 2 2028-06-21 Variable 0.07166850 N N N N N N CUBESMART N/A 229663109 335600.00000000 NS USD 13571664.00000000 0.302404173675 Long EC CORP US N 1 N N N HILTON GRAND VACATIONS BORROWER LLC 254900HF0EZ734FDVY79 N/A 997442.45000000 PA USD 998070.84000000 0.022239040668 Long LON CORP US N 2 2028-08-02 Variable 0.07815730 N N N N N N BROOKFIELD PROPERTY PARTNERS LP 5493004J5Z0TZW83NU62 N/A 43000.00000000 NS USD 537930.00000000 0.011986170387 Long EP CORP BM N 1 N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q856 320000.00000000 NS USD 7379200.00000000 0.164423528196 Long EP CORP US N 1 N N N GLOBAL NET LEASE INC 549300NUYANCT5SU8Z65 379378409 294000.00000000 NS USD 5671260.00000000 0.126367164261 Long EP CORP US N 1 N N N PRIMA CAPITAL CRE SECURITIZATION 2020-VIII LTD N/A 74167UAE7 9277000.00000000 PA USD 7070001.70000000 0.157533963555 Long ABS-MBS CORP US N 2 2070-12-26 Fixed 0.03000000 N N N N N N FIRST INDUSTRIAL REALTY TRUST INC N/A 32054K103 115000.00000000 NS USD 5223300.00000000 0.116385707777 Long EC CORP US N 1 N N N VENTAS INC ORQTRC074CWLT3DKHT41 92276F100 934186.00000000 NS USD 41365756.08000000 0.921712863346 Long EC CORP US N 1 N N N GLOBAL MEDICAL REIT INC 549300HFRIPQDYU3GU60 37957W203 150848.00000000 NS USD 3651984.83000000 0.081373621892 Long EP CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A 46639YAE7 2518000.00000000 PA USD 157375.00000000 0.003506633883 Long ABS-MBS CORP US N 3 2046-04-15 Variable 0.03250000 N N N N N N EQUINIX INC 549300EVUN2BTLJ3GT74 29444UBU9 28000000.00000000 PA USD 24763800.88000000 0.551787661569 Long DBT CORP US N 2 2032-04-15 Fixed 0.03900000 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187B309 776859.00000000 NS USD 17541476.22000000 0.390859633818 Long EP CORP US N 1 N N N CUSHMAN and WAKEFIELD US BORROWER LLC 549300870CMN3WI5IF97 23166MAA1 11165000.00000000 PA USD 11009487.18000000 0.245313682482 Long DBT CORP US N 2 2028-05-15 Fixed 0.06750000 N N N N N N HUDSON PACIFIC PROPERTIES INC N/A 444097307 686200.00000000 NS USD 9709730.00000000 0.216352458862 Long EP CORP US N 1 N N N AMERICAN HOMES 4 RENT LP 549300N4PXZ37U8QKI55 02666TAC1 9000000.00000000 PA USD 7131385.26000000 0.158901713651 Long DBT CORP US N 2 2031-07-15 Fixed 0.02375000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A 46639YAC1 472000.00000000 PA USD 130419.78000000 0.002906016963 Long ABS-MBS CORP US N 2 2046-04-15 Variable 0.03250000 N N N N N N BBCMS MTG TR 2023-C22 N/A 05554FAF2 10000000.00000000 PA USD 10905987.00000000 0.243007488753 Long ABS-MBS CORP US N 2 2056-11-15 Variable 0.07363493 N N N N N N GLADSTONE COMMERCIAL CORP 529900EVVV534W8R0T32 376536884 486356.00000000 NS USD 9289399.60000000 0.206986645850 Long EP CORP US N 1 N N N MHC COML MTG TR 2021-MHC N/A 55316VAN4 13087314.88000000 PA USD 12989160.02000000 0.289424804694 Long ABS-MBS CORP US N 2 2038-04-15 Variable 0.08636442 N N N N N N BANK5 2023-5YR3 N/A 06211EAP6 1500000.00000000 PA USD 1566138.45000000 0.034896738073 Long ABS-MBS CORP US N 2 2056-09-15 Variable 0.07559179 N N N N N N REXFORD INDUSTRIAL REALTY LP 549300028US163ELJN70 76169XAB0 6188000.00000000 PA USD 4839287.16000000 0.107829123591 Long DBT CORP US N 2 2031-09-01 Fixed 0.02150000 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460D109 169200.00000000 NS USD 43898940.00000000 0.978157333979 Long EC CORP US N 1 N N N COMM 2018-HCLV MTG TR N/A 20048KAN7 4265000.00000000 PA USD 1622366.76000000 0.036149618753 Long ABS-MBS CORP US N 2 2033-09-15 Variable 0.10673337 N N N N N N PENNYMAC CORP EWN0I878407TKQNXZ933 70932AAD5 13601000.00000000 PA USD 13396985.00000000 0.298511971609 Long DBT CORP US N 2 2024-11-01 Fixed 0.05500000 N N N N Y PENNYMAC MORTGAGE INVESTMENT TRUST USD XXXX N N N UBS-BAMLL TR 2012-WRM N/A 90269PAL5 2143000.00000000 PA USD 1746116.40000000 0.038907011482 Long ABS-MBS CORP US N 2 2030-06-10 Variable 0.04379267 N N N N N N BENCHMARK 2022-B36 MTG TR N/A 08163QAN8 3828000.00000000 PA USD 2163178.68000000 0.048200004158 Long ABS-MBS CORP US N 2 2055-07-15 Fixed 0.02500000 N N N N N N MORGAN STANLEY BK OF AMER MERRILL LYNCH TR 2013-C12 N/A 61762XAC1 5670988.00000000 PA USD 4736558.32000000 0.105540116880 Long ABS-MBS CORP US N 2 2046-10-15 Variable 0.06213831 N N N N N N BENCHMARK 2019-B14 MTG TR N/A 08162YBM3 3427000.00000000 PA USD 70153.43000000 0.001563160569 Long ABS-MBS CORP US N 2 2062-12-15 Variable 0.03404110 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q500 653202.00000000 NS USD 16623990.90000000 0.370416201822 Long EP CORP US N 1 N N N BANK5 2023-5YR3 N/A 06211EAU5 2000000.00000000 PA USD 2069930.80000000 0.046122252447 Long ABS-MBS CORP US N 2 2056-09-15 Variable 0.07559179 N N N N N N NATIONAL STORAGE AFFILIATES TRUST 529900FS06O8GOYNR108 637870205 101375.00000000 NS USD 2202888.89000000 0.049084828100 Long EP CORP US N 1 N N N STWD TR 2021-LIH N/A 78486EAU2 9177000.00000000 PA USD 8755571.05000000 0.195091864080 Long ABS-MBS CORP US N 2 2036-11-15 Variable 0.09635000 N N N N N N REALTY INCOME CORP 549300CUWDAUZSH43859 756109CC6 12000000.00000000 PA USD 10696454.40000000 0.238338677857 Long DBT CORP US N 2 2030-01-15 Fixed 0.03400000 N N N N N N BANK 2022-BNK44 N/A 06540KAR0 5000000.00000000 PA USD 4897152.00000000 0.109118469475 Long ABS-MBS CORP US N 2 2055-11-15 Variable 0.05745034 N N N N N N HUDSON PACIFIC PROPERTIES LP 5493007NTUGLGZ8T3526 44409MAB2 6000000.00000000 PA USD 5055613.56000000 0.112649314117 Long DBT CORP US N 2 2029-04-01 Fixed 0.04650000 N N N N N N INVITATION HOMES OPERATING PARTNERSHIP LP 549300147YMUQB3GW319 46188BAD4 35000000.00000000 PA USD 31174735.55000000 0.694636276254 Long DBT CORP US N 2 2032-04-15 Fixed 0.04150000 N N N N N N NNN REIT INC 5493008JKH5SOTI0JS97 637417AS5 9575000.00000000 PA USD 9393918.75000000 0.209315544296 Long DBT CORP US N 2 2033-10-15 Fixed 0.05600000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V605 372994.00000000 NS USD 7620267.42000000 0.169794998780 Long EP CORP US N 1 N N N VASA TR 2021-VASA N/A 92230AAN6 800000.00000000 PA USD 361076.32000000 0.008045512045 Long ABS-MBS CORP US N 3 2039-07-15 Variable 0.10435480 N N N N N N MORGAN STANLEY CAPITAL I TRUST 2017-H1 N/A 61691JBA1 2470594.00000000 PA USD 2181491.51000000 0.048608051117 Long ABS-MBS CORP US N 2 2050-06-15 Fixed 0.04281000 N N N N N N CROWN CASTLE INC 54930012H97VSM0I2R19 22822VAW1 4000000.00000000 PA USD 3164761.08000000 0.070517289499 Long DBT CORP US N 2 2031-04-01 Fixed 0.02100000 N N N N N N CUSHMAN and WAKEFIELD PLC N/A N/A 201400.00000000 NS USD 1943510.00000000 0.043305340861 Long EC CORP GB N 1 N N N WILLIAMS SCOTSMAN INC 549300DAKDS8SCO1OT57 71953LAA9 3240000.00000000 PA USD 3227850.00000000 0.071923038471 Long DBT CORP US N 2 2025-06-15 Fixed 0.06125000 N N N N N N COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR N/A 12515DAF1 2769000.00000000 PA USD 2152392.71000000 0.047959670891 Long ABS-MBS CORP US N 2 2050-05-10 Fixed 0.03300000 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X409 211532.00000000 NS USD 4243331.92000000 0.094550033282 Long EP CORP US N 1 N N N COMM 2014-UBS2 MTG TR N/A 12591UAP8 3713000.00000000 PA USD 2949713.02000000 0.065725582978 Long ABS-MBS CORP US N 2 2047-03-10 Variable 0.04991882 N N N N N N CITIGROUP COMMERCIAL MORTGAGE TRUST 2023-SMRT N/A 17291NAE1 9750000.00000000 PA USD 9419776.28000000 0.209891702458 Long ABS-MBS CORP US N 2 2040-10-12 Variable 0.06047503 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460W552 35900.00000000 NS USD 738463.00000000 0.016454451959 Long EP CORP US N 1 N N N HILTON DOMESTIC OPERATING CO INC 5493003EG7H0N1E4XV50 432833AL5 12000000.00000000 PA USD 10514859.60000000 0.234292377754 Long DBT CORP US N 2 2031-05-01 Fixed 0.04000000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2011-C3 N/A 46635TBN1 7077000.00000000 PA USD 489268.40000000 0.010901891338 Long ABS-MBS CORP US N 3 2046-02-15 Variable 0.04409000 N N N N N N HOME PARTNERS AMER 2021-1 TR N/A 437300AL0 6590866.79000000 PA USD 5190183.69000000 0.115647809288 Long ABS-CBDO CORP US N 2 2041-09-17 Fixed 0.03325000 N N N N N N GLOBAL NET LEASE INC 549300NUYANCT5SU8Z65 379378300 509695.00000000 NS USD 10280548.15000000 0.229071443872 Long EP CORP US N 1 N N N WP GLIMCHER MALL TR 15-WPG N/A 92939VAL8 6725000.00000000 PA USD 5253322.52000000 0.117054670356 Long ABS-MBS CORP US N 3 2035-06-05 Variable 0.03633200 N N N N N N SUMMIT HOTEL PROPERTIES INC 254900OBQWJK6X20LS71 866082605 457602.00000000 NS USD 9609642.00000000 0.214122295418 Long EP CORP US N 1 N N N HOME PARTNERS AMER 2021-3 TR N/A 43730XAG9 9880815.26000000 PA USD 8377739.71000000 0.186673016239 Long ABS-CBDO CORP US N 2 2041-01-17 Fixed 0.04242000 N N N N N N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 253868822 33700.00000000 NS USD 707700.00000000 0.015768989986 Long EP CORP US N 1 N N N BANK 2017-BNK8 N/A 06650AAW7 11374393.00000000 PA USD 4274577.65000000 0.095246251458 Long ABS-MBS CORP US N 2 2050-11-15 Fixed 0.02800000 N N N N N N COMM 2012-CCRE1 MTG TR N/A 12624BAL0 1447710.44000000 PA USD 1124564.39000000 0.025057573271 Long ABS-MBS CORP US N 3 2045-05-15 Variable 0.05308407 N N N N N N GLP CAP LP / GLP FING II INC N/A 361841AQ2 2000000.00000000 PA USD 1751309.40000000 0.039022722044 Long DBT CORP US N 2 2031-01-15 Fixed 0.04000000 N N N N N N CAESARS ENTERTAINMENT INC 5299000BKFWWVND5L441 12768EAH9 4435000.00000000 PA USD 4437217.50000000 0.098870196867 Long LON CORP US N 2 2031-02-06 Variable 0.08065730 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 867892887 240000.00000000 NS USD 4725624.00000000 0.105296478075 Long EP CORP US N 1 N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923850 447536.00000000 NS USD 8494233.28000000 0.189268729025 Long EP CORP US N 1 N N N BENCHMARK 2022-B35 MTG TR N/A 08163RBQ8 12302000.00000000 PA USD 11087072.93000000 0.247042450201 Long ABS-MBS CORP US N 2 2055-05-15 Variable 0.04592213 N N N N N N VICI PROPERTIES LP / VICI NOTE CO INC N/A 92564RAB1 26000000.00000000 PA USD 24120743.40000000 0.537459037912 Long DBT CORP US N 2 2029-12-01 Fixed 0.04625000 N N N N N N BBCMS MTG TR 2022-C17 N/A 054976AL9 2000000.00000000 PA USD 1763888.60000000 0.039303012109 Long ABS-MBS CORP US N 2 2055-09-15 Fixed 0.05450000 N N N N N N ESSEX PORTFOLIO LP 5493003GN3O58H286O74 29717PAZ0 2000000.00000000 PA USD 1621290.34000000 0.036125633935 Long DBT CORP US N 2 2031-06-15 Fixed 0.02550000 N N N N N N REGENCY CENTERS CORP(REIT) 529900053A7X7FJ97S58 758849871 69225.00000000 NS USD 1493183.25000000 0.033271148391 Long EP CORP US N 1 N N N BBCMS MORTGAGE TRUST 2023-C21 N/A 05553WAJ8 7000000.00000000 PA USD 7038588.90000000 0.156834022721 Long ABS-MBS CORP US N 2 2056-09-15 Variable 0.06506260 N N N N N N REGENCY CENTERS CORP(REIT) 529900053A7X7FJ97S58 758849889 281325.00000000 NS USD 6338252.25000000 0.141229103093 Long EP CORP US N 1 N N N BRIXMOR OPERATING PARTNERSHIP LP 549300CJHBL7JBUA6503 11120VAH6 1872000.00000000 PA USD 1727666.33000000 0.038495906538 Long DBT CORP US N 2 2029-05-15 Fixed 0.04125000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29273V605 525651.00000000 NS USD 13109735.94000000 0.292111480510 Long EP CORP US N 1 N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAS1 5049500.00000000 PA USD 4368836.49000000 0.097346529407 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.05108207 N N N N N N HOME PARTNERS AMER 2019-2 TR N/A 43732TAL5 2758156.07000000 PA USD 2393640.09000000 0.053335151348 Long ABS-CBDO CORP US N 2 2039-10-19 Fixed 0.03866000 N N N N N N BOSTON PPTY LTD PARTNERSHIP BVHHEFJI6SHNOKQT2572 10112RBG8 37000.00000000 PA USD 37784.81000000 0.000841922128 Long DBT CORP US N 2 2027-12-01 Fixed 0.06750000 N N N N N N FORESTAR GROUP INC 549300BC2UB0GHV60V70 346232AE1 5000000.00000000 PA USD 4735884.60000000 0.105525105033 Long DBT CORP US N 2 2028-03-01 Fixed 0.05000000 N N N N N N COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR N/A 12515DAV6 3000000.00000000 PA USD 2615330.10000000 0.058274853973 Long ABS-MBS CORP US N 2 2050-05-10 Variable 0.04349700 N N N N N N CEDAR REALTY TRUST INC 54930056URX93R2RSN82 150602407 126972.00000000 NS USD 1999809.00000000 0.044559796658 Long EP CORP US N 1 N N N BBCMS MTG TR 2023-C22 N/A 05554FAJ4 10000000.00000000 PA USD 10694624.00000000 0.238297892836 Long ABS-MBS CORP US N 2 2056-11-15 Variable 0.07363493 N N N N N N BBCMS MTG TR 2020-C6 N/A 05492TAJ9 1129000.00000000 PA USD 886193.31000000 0.019746182607 Long ABS-MBS CORP US N 2 2053-02-15 Fixed 0.03045000 N N N N N N CTR PARTNERSHIP LP / CARETRUST CAP CORP N/A 126458AE8 21865000.00000000 PA USD 19791148.48000000 0.440986890198 Long DBT CORP US N 2 2028-06-30 Fixed 0.03875000 N N N N N N KENNEDY-WILSON INC 5EA4464UK7FM5QNNKL62 489399AM7 6960000.00000000 PA USD 5408806.70000000 0.120519172938 Long DBT CORP US N 2 2031-03-01 Fixed 0.05000000 N N N N N N OPEN TR 2023-AIR N/A 68373BAG6 9259361.69000000 PA USD 9276722.99000000 0.206704185293 Long ABS-MBS CORP US N 2 2028-10-15 Variable 0.12004726 N N N N N N UDR INC P3CH2EG5X6Z1XWU1OO74 90265EAR1 1500000.00000000 PA USD 1270922.34000000 0.028318724957 Long DBT CORP US N 2 2031-08-15 Fixed 0.03000000 N N N N N N CENTERSPACE 5493002LG2SH9EEHT720 15202L206 317300.00000000 NS USD 7389948.73000000 0.164663031681 Long EP CORP US N 1 N N N BENCHMARK 2023-B39 C MTG TR N/A 081925AG4 5000000.00000000 PA USD 4900595.50000000 0.109195197633 Long ABS-MBS CORP US N 2 2056-07-15 Fixed 0.06192030 N N N N N N BOSTON PPTY LTD PARTNERSHIP BVHHEFJI6SHNOKQT2572 10112RBD5 8000000.00000000 PA USD 6651366.64000000 0.148205926154 Long DBT CORP US N 2 2031-01-30 Fixed 0.03250000 N N N N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A 46637WAQ6 4238262.76000000 PA USD 3793245.17000000 0.084521188498 Long ABS-MBS CORP US N 3 2045-06-15 Variable 0.04845892 N N N N N N TAYLOR MORRISON COMMUNITIES INC 549300O1Z08HI2MRK572 87724RAA0 1798000.00000000 PA USD 1770234.92000000 0.039444420978 Long DBT CORP US N 2 2027-06-15 Fixed 0.05875000 N N N N N N TRICON RESIDENTIAL 2021-SFR1 TR N/A 89614YAH9 3000000.00000000 PA USD 2697686.10000000 0.060109912528 Long ABS-CBDO CORP US N 2 2038-07-17 Fixed 0.04133000 N N N N N N BENCHMARK 2022-B36 MTG TR N/A 08163QBP2 2000000.00000000 PA USD 1596070.80000000 0.035563691482 Long ABS-MBS CORP US N 2 2055-07-15 Variable 0.05118934 N N N N N N EXTRA SPACE STORAGE LP 549300YNKSKNZFR8UC42 30225VAK3 5000000.00000000 PA USD 4927963.00000000 0.109805000987 Long DBT CORP US N 2 2030-07-01 Fixed 0.05500000 N N N N N N ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO N/A 045086AK1 7925000.00000000 PA USD 7899428.40000000 0.176015271068 Long DBT CORP US N 2 2028-01-15 Fixed 0.06625000 N N N N N N SMRT 2022-MINI N/A 78457JAQ5 14615000.00000000 PA USD 13586913.67000000 0.302743967222 Long ABS-MBS CORP US N 2 2039-01-15 Variable 0.08671000 N N N N N N BX TR 2022-VAMF N/A 05609TAL4 4367000.00000000 PA USD 4071857.18000000 0.090729228622 Long ABS-MBS CORP US N 2 2039-01-15 Variable 0.08619980 N N N N N N MHP 2022-MHIL F N/A 55293DAN1 13149118.92700000 PA USD 12952598.77000000 0.288610145961 Long ABS-MBS CORP US N 2 2027-01-15 Variable 0.09278480 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027XBZ2 20000000.00000000 PA USD 19702766.60000000 0.439017562826 Long DBT CORP US N 2 2033-03-15 Fixed 0.05650000 N N N N N N GLOBAL NET LEASE INC 549300NUYANCT5SU8Z65 379378508 721484.00000000 NS USD 14833711.04000000 0.330525138964 Long EP CORP US N 1 N N N INDEPENDENCE PLAZA TR 2018-INDP N/A 45378YAS3 2896000.00000000 PA USD 2690847.36000000 0.059957531544 Long ABS-MBS CORP US N 2 2035-07-10 Fixed 0.04996000 N N N N N N WEYERHAEUSER CO 08IRJODWFYBI7QWRGS31 962166104 147500.00000000 NS USD 4450075.00000000 0.099156688020 Long EC CORP US N 1 N N N PENNYMAC MORTGAGE INVESTMENT TRUST 549300BSSOQO1ZWDUJ97 70931T301 388754.00000000 NS USD 8984104.94000000 0.200184062218 Long EP CORP US N 1 N N N SUMIT 2022-BVUE MTG TR N/A 865592AJ8 6000000.00000000 PA USD 4030270.20000000 0.089802586441 Long ABS-MBS CORP US N 2 2041-02-12 Variable 0.02988906 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAL2 2733635.00000000 PA USD 1299444.88000000 0.028954264942 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05297360 N N N N N N BBCMS MORTGAGE TRUST 2023-C21 N/A 05553WAH2 7000000.00000000 PA USD 7210636.30000000 0.160667587406 Long ABS-MBS CORP US N 2 2056-09-15 Variable 0.06506260 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X508 838551.00000000 NS USD 18490049.55000000 0.411995769669 Long EP CORP US N 1 N N N BENCHMARK 2021-B28 MTG TR N/A 08163GAU4 500000.00000000 PA USD 396448.95000000 0.008833685915 Long ABS-MBS CORP US N 2 2054-08-15 Fixed 0.02223700 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAQ1 7897000.00000000 PA USD 23691.00000000 0.000527883484 Long ABS-MBS CORP US N 3 2044-08-10 Fixed 0.04500000 N N N N N N TRI POINTE HOMES INC N/A 87265HAF6 11458000.00000000 PA USD 11028831.44000000 0.245744711791 Long DBT CORP US N 2 2027-06-01 Fixed 0.05250000 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q872 930100.00000000 NS USD 21708534.00000000 0.483710124710 Long EP CORP US N 1 N N N WELLTOWER OP LLC T6IZ0MBEG5ACZDTR7D06 95040QAH7 3000000.00000000 PA USD 2810365.86000000 0.062620645900 Long DBT CORP US N 2 2029-03-15 Fixed 0.04125000 N N N N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A 46637WAU7 4044000.00000000 PA USD 2736440.13000000 0.060973430842 Long ABS-MBS CORP US N 3 2045-06-15 Fixed 0.04000000 N N N N N N SAFEHOLD OPERATING PARTNERSHIP LP 54930012UY5Z4Q8NL108 785931AA4 12410000.00000000 PA USD 12007931.26000000 0.267561039694 Long DBT CORP US N 2 2034-04-01 Fixed 0.06100000 N N N N N N KIMCO REALTY CORP 254900ARY41P4V1JL861 49446R711 58100.00000000 NS USD 1291563.00000000 0.028778640685 Long EP CORP US N 1 N N N CBL and ASSOCS LTD PARTNERSHIP 549300VS75TWHD9JTH89 12505JAB9 18229000.00000000 PA USD 1.82000000 0.000000040553 Long DBT CORP US N 3 2024-10-15 Fixed 0.04600000 Y Y N N N N VICI PPTYS INC 254900RKH6RY9KCJQH63 925652109 788300.00000000 NS USD 22505965.00000000 0.501478503194 Long EC CORP US N 1 N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 76169C308 98400.00000000 NS USD 2105760.00000000 0.046920599622 Long EP CORP US N 1 N N N TRICON RESIDENTIAL 2023-SFR1 TRUST N/A 89616WAE8 2000000.00000000 PA USD 1998075.00000000 0.044521159624 Long ABS-CBDO CORP US N 2 2040-07-17 Fixed 0.07977000 N N N N N N REALTY INCOME CORP 549300CUWDAUZSH43859 756109CB8 3000000.00000000 PA USD 2794992.75000000 0.062278101859 Long DBT CORP US N 2 2029-07-15 Fixed 0.04000000 N N N N N N BX COMMERCIAL MORTGAGE TRUST 2021-VINO N/A 05608KAN0 11520071.85000000 PA USD 11387867.51000000 0.253744762932 Long ABS-MBS CORP US N 2 2038-05-15 Variable 0.09387810 N N N N N N AGREE LP 549300DXY3G299V1BO77 008513AD5 1288000.00000000 PA USD 1183198.89000000 0.026364068740 Long DBT CORP US N 2 2032-10-01 Fixed 0.04800000 N N N N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 035710862 1069599.00000000 NS USD 26921806.83000000 0.599872406822 Long EP CORP US N 1 N N N BBCMS MTG TR 2023-C19 N/A 05553RAC4 22500000.00000000 PA USD 22236093.00000000 0.495465208203 Long ABS-MBS CORP US N 2 2056-04-15 Fixed 0.05451000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V886 717200.00000000 NS USD 12730300.00000000 0.283656878930 Long EP CORP US N 1 N N N WFRBS COML MTG TR 2011-C4 N/A 92936CBD0 3955000.00000000 PA USD 363690.73000000 0.008103766397 Long ABS-MBS CORP US N 3 2044-06-15 Variable 0.05000000 N N N N N N NATIXIS COML MTG SECS TR 2018-FL1 N/A 63874MBE1 651000.00000000 PA USD 32550.00000000 0.000725279954 Long ABS-MBS CORP US N 3 2035-06-15 Variable 0.09117980 N N N N N N EQUITY RESIDENTIAL 5493008RACSH5EP3PI59 29476L107 96200.00000000 NS USD 6195280.00000000 0.138043391664 Long EC CORP US N 1 N N N XHR LP 549300M88BPT83ZL2164 98372MAC9 10000000.00000000 PA USD 9127607.00000000 0.203381578888 Long DBT CORP US N 2 2029-06-01 Fixed 0.04875000 N N N N N N MORGAN STANLEY CAP I TR 2016-BNK2 N/A 61690YAC6 2966000.00000000 PA USD 1394021.48000000 0.031061623227 Long ABS-MBS CORP US N 2 2049-11-15 Fixed 0.03000000 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q609 673972.00000000 NS USD 16707765.88000000 0.372282878127 Long EP CORP US N 1 N N N PROLOGIS LP GL16H1DHB0QSHP25F723 74340XCF6 10000000.00000000 PA USD 9185580.50000000 0.204673345938 Long DBT CORP US N 2 2053-06-15 Fixed 0.05250000 N N N N N N GLP CAP LP / GLP FING II INC N/A 361841AL3 19193000.00000000 PA USD 18632351.36000000 0.415166542337 Long DBT CORP US N 2 2029-01-15 Fixed 0.05300000 N N N N N N VORNADO REALTY TRUST N/A 929042828 2000.00000000 NS USD 30080.00000000 0.000670243349 Long EP CORP US N 1 N N N BANK 2021-BNK38 N/A 06540EBC6 3505000.00000000 PA USD 2591691.28000000 0.057748133165 Long ABS-MBS CORP US N 2 2064-12-15 Variable 0.03324737 N N N N N N REGENCY CTRS LP 5493008PTR2GAOYBXW28 75884RBB8 5000000.00000000 PA USD 4780558.80000000 0.106520536731 Long DBT CORP US N 2 2034-01-15 Fixed 0.05250000 N N N N N N BMO 2023-C5 MTG TR N/A 055988AJ8 4750000.00000000 PA USD 4778892.83000000 0.106483415544 Long ABS-MBS CORP US N 2 2056-06-15 Variable 0.06696757 N N N N N N CREST CLARENDON STR 02 1 LTD N/A 226063204 500000.00000000 PA USD 0.05000000 0.000000001114 Long ABS-CBDO CORP KY N 3 2035-12-28 Variable 0.06041030 N N N N N N BLACKSTONE CQP HOLDCO LP 549300LPL012JY5D4B69 12657QAC7 9975000.00000000 PA USD 10000935.00000000 0.222841096320 Long LON CORP US N 2 2030-12-31 Variable 0.08301910 N N N N N N AGREE LP 549300DXY3G299V1BO77 008513AC7 6100000.00000000 PA USD 4649819.98000000 0.103607410910 Long DBT CORP US N 2 2033-06-15 Fixed 0.02600000 N N N N N N INVITATION HOMES OPERATING PARTNERSHIP LP 549300147YMUQB3GW319 46188BAF9 23000000.00000000 PA USD 22233140.67000000 0.495399424308 Long DBT CORP US N 2 2033-08-15 Fixed 0.05500000 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460W461 47800.00000000 NS USD 850739.62000000 0.018956202555 Long EP CORP US N 1 N N N REALTY INCOME CORP 549300CUWDAUZSH43859 756109880 121125.00000000 NS USD 2847648.75000000 0.063451384234 Long EP CORP US N 1 N N N GLP CAP LP / GLP FING II INC N/A 361841AS8 4500000.00000000 PA USD 4610479.50000000 0.102730825302 Long DBT CORP US N 2 2033-12-01 Fixed 0.06750000 N N N N N N BX TR 2019-OC11 N/A 05606FAN3 22521000.00000000 PA USD 18858576.43000000 0.420207295288 Long ABS-MBS CORP US N 2 2041-12-09 Variable 0.04075457 N N N N N N OPG TR 2021-PORT N/A 67118AAS4 4529850.00600000 PA USD 4427928.38000000 0.098663216452 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.07833480 N N N N N N GS MTG SECS CORP TR 2023-SHIP N/A 36270GAG6 9000000.00000000 PA USD 8640154.80000000 0.192520156166 Long ABS-MBS CORP US N 2 2038-09-10 Variable 0.06272974 N N N N N N MSJP 2015-HAUL N/A 553697AN3 1500000.00000000 PA USD 1187383.35000000 0.026457306988 Long ABS-MBS CORP US N 2 2047-09-05 Variable 0.05012700 N N N N N N WELLS FARGO COML MTG TR 2019-C52 N/A 95002MBC2 883000.00000000 PA USD 687955.63000000 0.015329045415 Long ABS-MBS CORP US N 2 2052-08-15 Fixed 0.03561000 N N N N N N EXTRA SPACE STORAGE LP 549300YNKSKNZFR8UC42 30225VAG2 12000000.00000000 PA USD 9363575.64000000 0.208639438322 Long DBT CORP US N 2 2032-03-15 Fixed 0.02350000 N N N N N N DBUBS 2011 LC3 N/A 23305YAM1 2783216.63000000 PA USD 2532727.13000000 0.056434292426 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05515860 N N N N N N KIMCO REALTY OP LLC 549300EA7I6T15IBYS12 49447BAA1 13424000.00000000 PA USD 13889756.55000000 0.309491920228 Long DBT CORP US N 2 2034-03-01 Fixed 0.06400000 N N N N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 035710870 1452443.00000000 NS USD 36790381.19000000 0.819764239886 Long EP CORP US N 1 N N N BANK AMER MERRILL LYNCH COML MTG TR 2016-UBS10 N/A 06054MAK9 3030000.00000000 PA USD 2819692.55000000 0.062828463451 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.04985236 N N N N N N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 253868855 32900.00000000 NS USD 695177.00000000 0.015489952171 Long EP CORP US N 1 N N N BRAEMAR HOTELS and RESORTS INC 549300JDUUEBN868C776 10482B309 173050.00000000 NS USD 3206616.50000000 0.071449913067 Long EP CORP US N 1 N N N SUNBELT MEZZ N/A N/A 6964657.19000000 PA USD 6964657.19000000 0.155186674417 Long LON CORP US N 3 2027-01-21 Variable 0.09891820 N N N N N N SITE CENTERS CORP W2AVA6SODOQ1LCYJQR54 82981J109 1379438.00000000 NS USD 18608618.62000000 0.414637728801 Long EC CORP US N 1 N N N ESSEX PORTFOLIO LP 5493003GN3O58H286O74 29717PBA4 12077000.00000000 PA USD 11685622.96000000 0.260379357689 Long DBT CORP US N 2 2034-04-01 Fixed 0.05500000 N N N N N N RLJ LODGING TRUST LP 549300RX5I8Z6I6LDZ74 74965LAB7 4835000.00000000 PA USD 4193389.02000000 0.093437204272 Long DBT CORP US N 2 2029-09-15 Fixed 0.04000000 N N N N N N AMERICAN HOMES 4 RENT LP 549300N4PXZ37U8QKI55 02666TAG2 20000000.00000000 PA USD 19285089.40000000 0.429710868487 Long DBT CORP US N 2 2034-02-01 Fixed 0.05500000 N N N N N N MARRIOTT OWNERSHIP RESORTS INC BW4532OH033VURR0IT68 57164PAH9 15960000.00000000 PA USD 14329923.80000000 0.319299738452 Long DBT CORP US N 2 2029-06-15 Fixed 0.04500000 N N N N N N MSWF COML MTG TR 2023-1 N/A 55376CAJ2 16000000.00000000 PA USD 16059211.20000000 0.357831765714 Long ABS-MBS CORP US N 2 2056-05-15 Fixed 0.05752000 N N N N N N JPMDB COML MTG SECS TR 2018-C8 N/A 46591AAG0 1698000.00000000 PA USD 1158873.28000000 0.025822044859 Long ABS-MBS CORP US N 2 2051-06-15 Variable 0.03399410 N N N N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 76169C407 78225.00000000 NS USD 1638985.85000000 0.036519925753 Long EP CORP US N 1 N N N BMO 2023-C5 MTG TR N/A 055988AD1 22850000.00000000 PA USD 22909186.07000000 0.510463085666 Long ABS-MBS CORP US N 2 2056-06-15 Fixed 0.05765300 N N N N N N STWD TR 2021-LIH N/A 78486EAQ1 4985000.00000000 PA USD 4826479.49000000 0.107543742752 Long ABS-MBS CORP US N 2 2036-11-15 Variable 0.08338000 N N N N N N VICI PROPERTIES LP 254900X4QE7SGKQLLN38 925650AF0 575000.00000000 PA USD 553318.07000000 0.012329047767 Long DBT CORP US N 2 2034-04-01 Fixed 0.05750000 N N N N N N WP CAREY INC 54930042CRNE713E3Q67 92936UAF6 3000000.00000000 PA USD 2766625.80000000 0.061646028734 Long DBT CORP US N 2 2029-07-15 Fixed 0.03850000 N N N N N N DYNEX CAPITAL INC 5CIJ4S9HAEBWILA19B65 26817Q886 1032800.00000000 NS USD 12052776.00000000 0.268560271369 Long EC CORP US N 1 N N N HOME PARTNERS AMER 2021-2 TR N/A 43732VAN6 27694920.56400000 PA USD 24372743.13000000 0.543074102514 Long ABS-CBDO CORP US N 2 2026-12-17 Fixed 0.04505000 N N N N N N ASHFORD HOSPITALITY TRUST INC N/A 044103604 34000.00000000 NS USD 480760.00000000 0.010712306946 Long EP CORP US N 1 N N N VORNADO REALTY TRUST N/A 929042844 30100.00000000 NS USD 462637.00000000 0.010308489784 Long EP CORP US N 1 N N N SABRA HEALTH CARE LP 549300OVKLRFSIQG0H81 14162VAB2 17264000.00000000 PA USD 16890277.39000000 0.376349604386 Long DBT CORP US N 2 2026-08-15 Fixed 0.05125000 N N N N N N PRIMA CAP LTD 2021-9A N/A 74167FAA8 2861848.39000000 PA USD 2746464.96000000 0.061196804368 Long ABS-MBS CORP US N 2 2037-12-15 Variable 0.07783300 N N N N N N SABRA HEALTH CARE REIT INC 549300E3BC7GU7TAZ621 78573L106 604175.00000000 NS USD 8410116.00000000 0.187394425583 Long EC CORP US N 1 N N N KENNEDY-WILSON INC 5EA4464UK7FM5QNNKL62 489399AL9 17075000.00000000 PA USD 14122164.76000000 0.314670446066 Long DBT CORP US N 2 2029-03-01 Fixed 0.04750000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2020-NNN N/A 46652BBN8 2000000.00000000 PA USD 709955.20000000 0.015819240411 Long ABS-MBS CORP US N 2 2037-01-16 Fixed 0.04625400 N N N N N N GS MTG SECS CORP TR 2018-RIVR N/A 36255WAN5 3808000.00000000 PA USD 76160.00000000 0.001696999120 Long ABS-MBS CORP US N 2 2035-07-15 Variable 0.08218000 N N N N N N SUN CMNTYS OPER LTD PRTNRSHP 549300PUNBPJCGT6X741 866677AH0 11439000.00000000 PA USD 10016303.77000000 0.223183543657 Long DBT CORP US N 2 2032-04-15 Fixed 0.04200000 N N N N N N CROWN CASTLE INC 54930012H97VSM0I2R19 22822V101 541210.00000000 NS USD 50754673.80000000 1.130916974560 Long EC CORP US N 1 N N N HILTON USA TR 2016-HHV N/A 43300LAQ3 20270000.00000000 PA USD 18572044.94000000 0.413822793103 Long ABS-MBS CORP US N 2 2038-11-05 Variable 0.04333283 N N N N N N LXP INDUSTRIAL TRUST 549300S4MH2ICXDBFV43 529043AE1 1422000.00000000 PA USD 1164915.44000000 0.025956676427 Long DBT CORP US N 2 2030-09-15 Fixed 0.02700000 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 867892101 161900.00000000 NS USD 1651380.00000000 0.036796092529 Long EC CORP US N 1 N N N GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP N/A 37892AAA8 5075000.00000000 PA USD 4322003.52000000 0.096302995939 Long DBT CORP US N 2 2027-12-15 Fixed 0.03750000 N N N N N N BX TR 2021-ACNT N/A 05609QAN6 14695672.85000000 PA USD 14338811.95000000 0.319497784444 Long ABS-MBS CORP US N 2 2038-11-15 Variable 0.08730480 N N N N N N JPMDB COML MTG SECS TR 2019 N/A 48129RAX3 8000000.00000000 PA USD 6636088.00000000 0.147865487096 Long ABS-MBS CORP US N 2 2052-11-13 Fixed 0.03056500 N N N N N N CUBESMART LP 549300MPHKO3I3FJRA97 22966RAJ5 10000000.00000000 PA USD 7952568.70000000 0.177199344628 Long DBT CORP US N 2 2032-02-15 Fixed 0.02500000 N N N N N N UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC N/A 91327BAA8 27505000.00000000 PA USD 22112002.23000000 0.492700214407 Long DBT CORP US N 2 2029-02-15 Fixed 0.06500000 N N N N N N BBCMS MTG TR 2022-C16 N/A 05552YAL0 5250000.00000000 PA USD 4370902.73000000 0.097392569421 Long ABS-MBS CORP US N 2 2055-06-15 Variable 0.04600000 N N N N N N TIMES SQUARE HOTEL TR N/A 887367AA8 2321167.16410000 PA USD 2306070.06000000 0.051383913640 Long DBT CORP US N 2 2026-08-01 Fixed 0.08528000 N N N N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 681936BM1 5000000.00000000 PA USD 4175179.95000000 0.093031469296 Long DBT CORP US N 2 2031-02-01 Fixed 0.03375000 N N N N N N BX COMMERCIAL MORTGAGE TRUST 2020-VIVA N/A 12433XAJ8 20898990.00000000 PA USD 16985892.37000000 0.378480099881 Long ABS-MBS CORP US N 2 2044-03-11 Variable 0.03667042 N N N N N N BANK 2022-BNK44 N/A 06540KAJ8 15900000.00000000 PA USD 16066347.39000000 0.357990774487 Long ABS-MBS CORP US N 2 2055-11-15 Variable 0.05936379 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027XBM1 2000000.00000000 PA USD 1652037.16000000 0.036810735385 Long DBT CORP US N 2 2031-04-15 Fixed 0.02700000 N N N N N N EPR PROPERTIES 549300YSSXFHMPOWZ492 26884UAE9 8000000.00000000 PA USD 7518390.32000000 0.167524970562 Long DBT CORP US N 2 2028-04-15 Fixed 0.04950000 N N N N N N RITHM CAPITAL CORP 549300WNTHGEO5LP2G31 64828T201 385699.00000000 NS USD 4288972.88000000 0.095567006351 Long EC CORP US N 1 N N N CREDIT SUISSE COM MTG TR 2021 N/A 12657VAQ5 7120000.00000000 PA USD 2224814.17000000 0.049573367765 Long ABS-MBS CORP US N 3 2034-06-15 Variable 0.09652338 N N N N N N BENCHMARK 2019-B14 MTG TR N/A 08162YBP6 5141000.00000000 PA USD 50492.33000000 0.001125071423 Long ABS-MBS CORP US N 2 2062-12-15 Variable 0.03404110 N N N N N N INVITATION HOMES INC N/A 46187W107 917500.00000000 NS USD 31378500.00000000 0.699176561080 Long EC CORP US N 1 N N N RLJ LODGING TR N/A 74965L101 407900.00000000 NS USD 4486900.00000000 0.099977223637 Long EC CORP US N 1 N N N PARK INTERMEDIATE HOLDINGS LLC / PK DOMESTIC PROPERTY LLC / PK FINANCE CO-ISSUER N/A 70052LAC7 7000000.00000000 PA USD 6405241.36000000 0.142721756201 Long DBT CORP US N 2 2029-05-15 Fixed 0.04875000 N N N N N N VENTAS RLTY LTD PARTNERSHIP 32SXKSJ72K64GM3HOU64 92277GAW7 1500000.00000000 PA USD 1204071.20000000 0.026829146100 Long DBT CORP US N 2 2031-09-01 Fixed 0.02500000 N N N N N N MHP 2022-MHIL F N/A 55293DAL5 3924497.85000000 PA USD 3885606.86000000 0.086579194100 Long ABS-MBS CORP US N 2 2027-01-15 Variable 0.08580180 N N N N N N BENCHMARK 2023-B38 MTG TR N/A 081916AE8 21000000.00000000 PA USD 20733831.30000000 0.461991773550 Long ABS-MBS CORP US N 2 2056-04-15 Fixed 0.05524600 N N N N N N GLOBAL NET LEASE INC 549300NUYANCT5SU8Z65 379378607 379839.00000000 NS USD 7866465.69000000 0.175280795098 Long EP CORP US N 1 N N N BX COML MTG TR 2024-XL4 N/A 05611VAJ0 5000000.00000000 PA USD 4997500.00000000 0.111354426247 Long ABS-MBS CORP US N 3 2039-02-15 Variable 0.09509060 N N N N N N ELME COMMUNITIES 549300DI34BGS8LVKW95 939653101 755647.00000000 NS USD 11455608.52000000 0.255254169896 Long EC CORP US N 1 N N N EXTRA SPACE STORAGE LP 549300YNKSKNZFR8UC42 30225VAR8 9000000.00000000 PA USD 9044251.65000000 0.201524252790 Long DBT CORP US N 2 2031-01-15 Fixed 0.05900000 N N N N N N KIMCO REALTY OP LLC 549300EA7I6T15IBYS12 49446RBA6 9000000.00000000 PA USD 8237133.45000000 0.183540023861 Long DBT CORP US N 2 2033-02-01 Fixed 0.04600000 N N N N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q505 1108086.00000000 NS USD 22959541.92000000 0.511585116038 Long EP CORP US N 1 N N N BANK 2020-BNK30 N/A 06541UBJ4 2000000.00000000 PA USD 799564.80000000 0.017815923872 Long ABS-MBS CORP US N 3 2053-12-15 Variable 0.03015504 N N N N N N MID-AMERICA APT CMNTYS INC 549300FQZKFR5YNSHZ21 59522J103 103406.00000000 NS USD 13442780.00000000 0.299532377002 Long EC CORP US N 1 N N N NATIXIS COML MTG SECS TR 2020-2PAC N/A 63875DAS0 2502675.00000000 PA USD 1786846.13000000 0.039814552395 Long ABS-MBS CORP US N 2 2037-01-15 Variable 0.03616667 N N N N N N ELP COMMERCIAL MORTGAGE TRUST 2021-ELP N/A 26863LAS3 15430039.80000000 PA USD 14688050.85000000 0.327279534785 Long ABS-MBS CORP US N 2 2038-11-15 Variable 0.09050380 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250N717 498275.00000000 NS USD 10867377.75000000 0.242147196431 Long EP CORP CA N 1 N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027XCF5 5000000.00000000 PA USD 5034659.40000000 0.112182412974 Long DBT CORP US N 2 2033-11-15 Fixed 0.05900000 N N N N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 903002103 335723.00000000 NS USD 5344710.16000000 0.119090972151 Long EC CORP US N 1 N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q807 1202034.00000000 NS USD 29329629.60000000 0.653523577019 Long EP CORP US N 1 N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V803 666800.00000000 NS USD 13202640.00000000 0.294181571215 Long EP CORP US N 1 N N N DTP COML MTG TR 2023-STE2 N/A 23346GAE9 8800000.00000000 PA USD 8347266.40000000 0.185994009145 Long ABS-MBS CORP US N 2 2041-01-15 Variable 0.06689139 N N N N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 035710847 192992.00000000 NS USD 4840239.36000000 0.107850340536 Long EP CORP US N 1 N N N GS MTG SECS TR 2012-GCJ9 N/A 36192PAN6 1908000.00000000 PA USD 1588296.09000000 0.035390455190 Long ABS-MBS CORP US N 2 2045-11-10 Variable 0.04754281 N N N N N N VICI PROPERTIES LP 254900X4QE7SGKQLLN38 925650AB9 5000000.00000000 PA USD 4802292.50000000 0.107004807605 Long DBT CORP US N 2 2028-02-15 Fixed 0.04750000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2018-AON N/A 46649XAU1 5039000.00000000 PA USD 1087510.93000000 0.024231947103 Long ABS-MBS CORP US N 2 2031-07-05 Variable 0.04766973 N N N N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 31635A105 195758441.15700000 NS USD 195797592.85000000 4.362767106036 Long STIV RF US N 1 N N N BMO 2023-C7 MTG TR N/A 05593FAH1 5000000.00000000 PA USD 5194695.00000000 0.115748330416 Long ABS-MBS CORP US N 2 2056-12-15 Variable 0.06673800 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460WAG2 10000000.00000000 PA USD 9687669.00000000 0.215860895081 Long DBT CORP US N 2 2033-08-01 Fixed 0.05100000 N N N N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T306 519600.00000000 NS USD 18601680.00000000 0.414483122288 Long EC CORP US N 1 N N N REALTY INCOME CORP 549300CUWDAUZSH43859 756109104 389382.00000000 NS USD 20847512.28000000 0.464524816132 Long EC CORP US N 1 N N N SUGARHOUSE HSP GAMING PROP MEZZ LP / SUGARHOUSE HSP GAMING FIN CORP N/A 865033AC8 8000000.00000000 PA USD 7930122.88000000 0.176699206277 Long DBT CORP US N 2 2025-05-15 Fixed 0.05875000 N N N N N N GAMING AND LEISURE PROPERTIES INC 5493006GWRDBCZYWTM57 36467J108 354946.00000000 NS USD 15166842.58000000 0.337947984688 Long EC CORP US N 1 N N N EPR PROPERTIES 549300YSSXFHMPOWZ492 26884UAG4 2000000.00000000 PA USD 1623578.18000000 0.036176611646 Long DBT CORP US N 2 2031-11-15 Fixed 0.03600000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A 46639YAX5 7722000.00000000 PA USD 3502483.76000000 0.078042435124 Long ABS-MBS CORP US N 2 2046-04-15 Variable 0.04296671 N N N N N N SUMMIT HOTEL PROPERTIES INC 254900OBQWJK6X20LS71 866082704 377000.00000000 NS USD 7683260.00000000 0.171198601102 Long EP CORP US N 1 N N N SG COML MTG SECS TR 2020-COVE N/A 78397FAL7 5000000.00000000 PA USD 4539029.50000000 0.101138774525 Long ABS-MBS CORP US N 2 2037-03-15 Variable 0.03851822 N N N N N N LAMAR MEDIA CORP N/A 513075BT7 5875000.00000000 PA USD 5243492.14000000 0.116835629571 Long DBT CORP US N 2 2030-02-15 Fixed 0.04000000 N N N N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q406 673204.00000000 NS USD 16661799.00000000 0.371258642900 Long EP CORP US N 1 N N N LXP INDUSTRIAL TRUST 549300S4MH2ICXDBFV43 529043309 440102.00000000 NS USD 19516261.58000000 0.434861853073 Long EP CORP US N 2 N N N BBCMS MTG TR 2020-C7 N/A 05492VAL9 2067000.00000000 PA USD 1392398.58000000 0.031025461727 Long ABS-MBS CORP US N 2 2053-04-15 Variable 0.03714978 N N N N N N RETAINED VANTAGE DATA CTRS ISSUER LLC / VANTAGE DATA CTRS CDA QC4 LTD PARTNERSHIP N/A 76134KAE4 4000000.00000000 PA USD 3683640.00000000 0.082078963221 Long ABS-CBDO CORP US N 2 2048-09-15 Fixed 0.05050000 N N N N N N SAUL CENTERS INC N/A 804395879 76841.00000000 NS USD 1548346.15000000 0.034500289577 Long EP CORP US N 1 N N N COMM 2012-CCRE1 MTG TR N/A 12624BAS5 1843188.10000000 PA USD 23908.55000000 0.000532730939 Long ABS-MBS CORP US N 3 2045-05-15 Fixed 0.02462000 N N N N N N CTO REALTY GROWTH INC N/A 22948Q200 120000.00000000 NS USD 2618400.00000000 0.058343257565 Long EP CORP US N 1 N N N ASHFORD HOSPITALITY TRUST INC N/A 044103802 38365.00000000 NS USD 531355.25000000 0.011839671635 Long EP CORP US N 1 N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T876 249550.00000000 NS USD 5425217.00000000 0.120884827674 Long EP CORP US N 1 N N N SREIT TR 2021-MFP2 N/A 85236WCU8 10872000.00000000 PA USD 10566674.01000000 0.235446907799 Long ABS-MBS CORP US N 2 2036-11-15 Variable 0.09350980 N N N N N N BRIXMOR OPERATING PARTNERSHIP LP 549300CJHBL7JBUA6503 11120VAM5 10000000.00000000 PA USD 9544610.10000000 0.212673252914 Long DBT CORP US N 2 2034-02-15 Fixed 0.05500000 N N N N N N KITE REALTY GROUP LP 549300X6R2GYI8Y3OD81 49803XAE3 9007000.00000000 PA USD 8592091.91000000 0.191449217589 Long DBT CORP US N 2 2034-03-01 Fixed 0.05500000 N N N N N N BX 2021-VOLT N/A 05609VAS4 5000000.00000000 PA USD 4925000.00000000 0.109738979343 Long ABS-MBS CORP US N 2 2036-09-15 Variable 0.08285460 N N N N N N ESSEX PORTFOLIO LP 5493003GN3O58H286O74 29717PAV9 3000000.00000000 PA USD 2409396.15000000 0.053686228291 Long DBT CORP US N 2 2032-03-15 Fixed 0.02650000 N N N N N N PKHL COML MTG TR 2021-MF N/A 69356GAN9 500000.00000000 PA USD 373288.10000000 0.008317615247 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.08035480 N N N N N N CBRE SERVICES INC 549300CTE3HOMEUMM603 12505BAG5 27250000.00000000 PA USD 27094464.09000000 0.603719560424 Long DBT CORP US N 2 2034-08-15 Fixed 0.05950000 N N N N N N BBCMS MORTGAGE TRUST 2023-C20 N/A 07336DAW1 24250000.00000000 PA USD 24026024.58000000 0.535348510677 Long ABS-MBS CORP US N 2 2056-07-15 Fixed 0.05576000 N N N N N N KNDR 2021-KIND F N/A 482606AS9 7096720.85200000 PA USD 6688232.18000000 0.149027365085 Long ABS-MBS CORP US N 2 2038-08-15 Variable 0.09394480 N N N N N N RETAIL VALUE INC 549300VO5RB7323N1Z31 76133Q102 274131.00000000 NS USD 2.74000000 0.000000061052 Long EC CORP US N 3 N N N RITHM CAPITAL CORP 549300WNTHGEO5LP2G31 64828T300 505904.00000000 NS USD 12561596.32000000 0.279897819102 Long EP CORP US N 1 N N N BENCHMARK 2020-B18 MORTGAGE TRUST N/A 08163ABT9 11379000.00000000 PA USD 10070519.69000000 0.224391584210 Long ABS-MBS CORP US N 2 2053-07-15 Variable 0.04534773 N N N N N N BX COMMERCIAL MORTGAGE TRUST 2019-IMC N/A 05608BAS9 5181000.00000000 PA USD 5122241.76000000 0.114133925419 Long ABS-MBS CORP US N 2 2034-04-15 Variable 0.08967300 N N N N N N DIGITAL REALTY TRUST LP CD4SPTZ3YBTHY0C1AH38 25389JAU0 5000000.00000000 PA USD 4529129.25000000 0.100918176895 Long DBT CORP US N 2 2029-07-01 Fixed 0.03600000 N N N N N N BX COML MTG TR 2024-XL5 N/A 05612GAJ2 4929654.03000000 PA USD 4902934.32000000 0.109247311282 Long ABS-MBS CORP US N 2 2041-03-15 Variable 0.09009330 N N N N N N RLJ LODGING TR N/A 74965L200 31585.00000000 NS USD 780781.20000000 0.017397387203 Long EP CORP US N 2 N N N PROLOGIS INC 529900DFH19P073LZ636 74340W202 93396.00000000 NS USD 5043384.00000000 0.112376814740 Long EP CORP US N 1 N N N CAPITAL TR RE CDO 05-1 LTD COR 549300EO21RSSTCI1873 140558AD9 2250000.00000000 PA USD 0.23000000 0.000000005124 Long ABS-CBDO CORP KY N 3 2050-03-20 Variable 0.06943230 N N N N N N SBA SENIOR FINANCE II LLC 549300PVT2ADFWMYEW87 78404XAJ4 25934106.37600000 PA USD 26011649.35000000 0.579592253950 Long LON CORP US N 2 2031-01-27 Variable 0.07320000 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187BAB7 4896000.00000000 PA USD 4651200.00000000 0.103638160552 Long DBT CORP US N 2 2026-01-15 Fixed 0.06250000 N N N N N TWO HARBORS INVESTMENT COR USD XXXX N N N MIRA TR 2023-MILE N/A 55318EAE0 4200000.00000000 PA USD 4177602.66000000 0.093085452184 Long ABS-MBS CORP US N 2 2038-06-10 Fixed 0.07202600 N N N N N N WP GLIMCHER MALL TR 15-WPG N/A 92939VAN4 2541000.00000000 PA USD 1916542.90000000 0.042704459231 Long ABS-MBS CORP US N 3 2035-06-05 Variable 0.03633200 N N N N N N AGELLAN PORTFOLIO N/A N/A 6611000.00000000 PA USD 6611000.00000000 0.147306475621 Long LON CORP US N 3 2025-08-07 Fixed 0.09000000 N N N N N N GREAT AJAX CORP 5493004ID2QQWNGDYC18 38983D409 611442.00000000 NS USD 15212676.96000000 0.338969267547 Long EP CORP US N 3 N N N WELLS FARGO COML MTG TR 2016-NXS6 549300CFP9NBBMZH1008 95000KAJ4 5037000.00000000 PA USD 4038540.17000000 0.089986858130 Long ABS-MBS CORP US N 2 2049-11-15 Fixed 0.03059000 N N N N N N CITIGROUP COML MTG TR 2023-PRM3 N/A 17331LAE7 5500000.00000000 PA USD 5413858.45000000 0.120631736164 Long ABS-MBS CORP US N 2 2028-07-10 Variable 0.06571721 N N N N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923876 126100.00000000 NS USD 2269800.00000000 0.050575743210 Long EP CORP US N 1 N N N BANK 2022-BNK42 N/A 06541MCF9 6500000.00000000 PA USD 5417906.00000000 0.120721923780 Long ABS-MBS CORP US N 2 2055-06-15 Variable 0.04722403 N N N N N N AMERICAN HOMES 4 RENT LP 549300N4PXZ37U8QKI55 02666TAB3 13000000.00000000 PA USD 12537842.98000000 0.279368546556 Long DBT CORP US N 2 2029-02-15 Fixed 0.04900000 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X607 1231885.00000000 NS USD 13045662.15000000 0.290683786639 Long EC CORP US N 1 N N N PENNYMAC MORTGAGE INVESTMENT TRUST 549300BSSOQO1ZWDUJ97 70931T400 597708.00000000 NS USD 13694566.15000000 0.305142682609 Long EP CORP US N 1 N N N IMT TR 2017-APTS N/A 44974ABE6 9213000.00000000 PA USD 9132845.06000000 0.203498293479 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.03613153 N N N N N N COMM 2013-LC6 MTG TR N/A 20048EAG6 4741000.00000000 PA USD 4281391.81000000 0.095398084750 Long ABS-MBS CORP US N 2 2046-01-10 Fixed 0.03500000 N N N N N N FEDERAL NAT MTG ASN GTD REM PA N/A 31392CMZ4 20366.88960000 PA USD 7544.10000000 0.000168097834 Long ABS-CBDO USGSE US N 3 2042-02-25 Variable 0.03657660 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027XBW9 27000000.00000000 PA USD 24124730.04000000 0.537547868329 Long DBT CORP US N 2 2032-03-15 Fixed 0.04050000 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAJ7 8899000.00000000 PA USD 6855382.03000000 0.152751802432 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05297360 N N N N N N RITHM CAPITAL CORP 549300WNTHGEO5LP2G31 64828T409 1023942.00000000 NS USD 25342564.50000000 0.564683687750 Long EP CORP US N 1 N N N ELLINGTON FINANCIAL INC 60GS1D1R1YY5G1W7IT74 28852N208 212370.00000000 NS USD 5069271.90000000 0.112953649608 Long EP CORP US N 1 N N N SUN CMNTYS OPER LTD PRTNRSHP 549300PUNBPJCGT6X741 866677AE7 9000000.00000000 PA USD 7257498.66000000 0.161711775742 Long DBT CORP US N 2 2031-07-15 Fixed 0.02700000 N N N N N N CITIGROUP COML MTG TR 2023-SMRT N/A 17291NAC5 5000000.00000000 PA USD 4904686.00000000 0.109286342261 Long ABS-MBS CORP US N 2 2040-10-12 Variable 0.06047503 N N N N N N BBCMS MTG TR 2022-C17 N/A 054976AR6 2000000.00000000 PA USD 1196028.80000000 0.026649945132 Long ABS-MBS CORP US N 2 2055-09-15 Fixed 0.02500000 N N N N N N BBCMS MTG TR 2023-5C23 N/A 05493QAD7 2500000.00000000 PA USD 2640330.00000000 0.058831902401 Long ABS-MBS CORP US N 2 2056-12-15 Variable 0.07703207 N N N N N N VENTAS RLTY LTD PARTNERSHIP 32SXKSJ72K64GM3HOU64 92277GAV9 4000000.00000000 PA USD 3767671.32000000 0.083951351301 Long DBT CORP US N 2 2030-11-15 Fixed 0.04750000 N N N N N N VENTAS RLTY LTD PARTNERSHIP 32SXKSJ72K64GM3HOU64 92277GAB3 3000000.00000000 PA USD 2755431.60000000 0.061396599275 Long DBT CORP US N 2 2043-09-30 Fixed 0.05700000 N N N N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAN2 1138514.98000000 PA USD 1100921.56000000 0.024530763112 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.05108207 N N N N N N CROWN CASTLE INC 54930012H97VSM0I2R19 22822VAT8 14000000.00000000 PA USD 11258348.36000000 0.250858813830 Long DBT CORP US N 2 2031-01-15 Fixed 0.02250000 N N N N N N GLOBAL PARTNERS LP 549300PCHWTW9P4DU444 37946R307 67800.00000000 NS USD 1740520.92000000 0.038782332850 Long EP CORP US N 1 N N N Phillips Edison Grocery Center Operating Partnership I LP 549300WUPIVS6ZE0ZI51 71845JAA6 16500000.00000000 PA USD 13058941.17000000 0.290979670111 Long DBT CORP US N 2 2031-11-15 Fixed 0.02625000 N N N N N N MPT OPER PARTNERSHIP LP / MPT FIN CORP N/A 55342UAM6 6000000.00000000 PA USD 4023178.80000000 0.089644575680 Long DBT CORP US N 2 2031-03-15 Fixed 0.03500000 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAN8 8138000.00000000 PA USD 917803.64000000 0.020450524810 Long ABS-MBS CORP US N 3 2044-08-10 Variable 0.05297360 N N N N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 681936BN9 18000000.00000000 PA USD 14093607.24000000 0.314034126656 Long DBT CORP US N 2 2033-04-15 Fixed 0.03250000 N N N N N N PROVIDENCE PLACE GROUP LTD PARTNERSHIP N/A 743784AB6 2565448.25000000 PA USD 2584540.57000000 0.057588800857 Long ABS-MBS CORP US N 2 2028-07-20 Fixed 0.07750000 N N N N N N FORESTAR GROUP INC 549300BC2UB0GHV60V70 346232AF8 8000000.00000000 PA USD 7592414.40000000 0.169174377057 Long DBT CORP US N 2 2026-05-15 Fixed 0.03850000 N N N N N N BENCHMARK 2023-B39 C MTG TR N/A 081925AD1 5000000.00000000 PA USD 5016292.00000000 0.111773150084 Long ABS-MBS CORP US N 2 2056-07-15 Fixed 0.05753590 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T405 1074492.00000000 NS USD 24036386.04000000 0.535579385001 Long EP CORP US N 1 N N N EQUITY LIFESTYLE PROPERTIES INC 529900PEQG66LENB6798 29472R108 1311596.00000000 NS USD 79076122.84000000 1.761976245864 Long EC CORP US N 1 N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 31635A303 2712253.79100000 NS USD 2712525.02000000 0.060440553733 Long STIV RF US N 1 N N CUSHMAN and WAKEFIELD US BORROWER LLC 549300870CMN3WI5IF97 23340DAS1 2284275.00000000 PA USD 2289985.69000000 0.051025521285 Long LON CORP US N 2 2030-01-31 Variable 0.09065730 N N N N N N GLADSTONE LAND CORP 54930002B3Q17H38FG74 376549507 30000.00000000 NS USD 721800.00000000 0.016083166556 Long EP CORP US N 1 N N N BX COML MTG TR 2024-XL4 N/A 05611VAG6 10000000.00000000 PA USD 10000000.00000000 0.222820262625 Long ABS-MBS CORP US N 2 2039-02-15 Variable 0.08460590 N N N N N N MORGAN STANLEY CAP I TR 2015-MS1 N/A 61765DAC2 10833000.00000000 PA USD 7392544.28000000 0.164720865794 Long ABS-MBS CORP US N 2 2048-05-15 Variable 0.04157076 N N N N N N VICI PROPERTIES LP 254900X4QE7SGKQLLN38 925650AG8 4532000.00000000 PA USD 4233083.33000000 0.094321673930 Long DBT CORP US N 2 2054-04-01 Fixed 0.06125000 N N N N N N CD 2017-CD3 MTG TR N/A 12515GAM9 3353000.00000000 PA USD 1218658.91000000 0.027154189837 Long ABS-MBS CORP US N 2 2050-02-10 Fixed 0.03250000 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13 N/A 61763BAE4 2602255.99000000 PA USD 2344173.09000000 0.052232926355 Long ABS-MBS CORP US N 2 2046-11-15 Variable 0.05224756 N N N N N N UDR INC P3CH2EG5X6Z1XWU1OO74 902653104 250900.00000000 NS USD 9554272.00000000 0.212888539623 Long EC CORP US N 1 N N N AMERICAN FIN TR FINAN OP N/A 02608AAA7 13405000.00000000 PA USD 11434498.38000000 0.254783793202 Long DBT CORP US N 2 2028-09-30 Fixed 0.04500000 N N N N N N UBS COML MTG TR 2012-C1 N/A 90269GAQ4 4699074.49000000 PA USD 4249219.87000000 0.094681228738 Long ABS-MBS CORP US N 3 2045-05-10 Variable 0.05000000 N N N N N N WILLSCOT MOBILE MINI HOLDINGS CORP 549300HJ4VIXF476Q166 971378104 58900.00000000 NS USD 2176944.00000000 0.048506723380 Long EC CORP US N 1 N N N SBA COMMUNICATIONS CORP 5299001HX8ZN8Y8QIT49 78410GAG9 25000000.00000000 PA USD 21771452.50000000 0.485112076379 Long DBT CORP US N 2 2029-02-01 Fixed 0.03125000 N N N N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T868 98905.00000000 NS USD 2251077.80000000 0.050158574658 Long EP CORP US N 1 N N N CREST DARTMOUTH STR 03 1 LTD N/A 226065209 1220000.00000000 NS USD 12.20000000 0.000000271840 Long EP CORP KY N 3 N N N SUN CMNTYS OPER LTD PRTNRSHP 549300PUNBPJCGT6X741 866677AJ6 28750000.00000000 PA USD 27798289.33000000 0.619402212906 Long DBT CORP US N 2 2033-01-15 Fixed 0.05700000 N N N N N N SUMIT 2022-BVUE MTG TR N/A 865592AN9 3211000.00000000 PA USD 1917450.26000000 0.042724677050 Long ABS-MBS CORP US N 2 2041-02-12 Variable 0.02988906 N N N N N N BANK 2022-BNK42 N/A 06541MBN3 15000000.00000000 PA USD 13797216.00000000 0.307429929262 Long ABS-MBS CORP US N 2 2055-06-15 Variable 0.04493000 N N N N N N TPGI 2021-DGWD G N/A 87267HAU1 5846400.01000000 PA USD 5835476.60000000 0.130026242855 Long ABS-MBS CORP US N 2 2026-06-15 Variable 0.09294480 N N N N N N ESSEX PROPERTY TRUST INC 549300TR2H2VEFX0NC60 297178105 159900.00000000 NS USD 39375375.00000000 0.877363139849 Long EC CORP US N 1 N N N MSWF COMMERCIAL MORTGAGE TRUST 23-2 N/A 55361AAX2 10000000.00000000 PA USD 10320227.00000000 0.229955569049 Long ABS-MBS CORP US N 2 2056-12-15 Fixed 0.06491000 N N N N N N SOTHERLY HOTELS INC 549300IYTT21F61LSR10 83600C301 67250.00000000 NS USD 1271031.73000000 0.028321162388 Long EP CORP US N 1 N N N BMO 2023-C6 MTG TR N/A 055985AJ4 5000000.00000000 PA USD 5148660.50000000 0.114722588478 Long ABS-MBS CORP US N 2 2056-09-15 Variable 0.06550400 N N N N N N CROWN CASTLE INC 54930012H97VSM0I2R19 22822VAK7 2000000.00000000 PA USD 1865611.16000000 0.041569596862 Long DBT CORP US N 2 2028-02-15 Fixed 0.03800000 N N N N N N CYXTERA TECHNOLOGIES INC N/A 23284C102 740700.00000000 NS USD 7.41000000 0.000000165109 Long EC CORP US N 3 N N N HILTON DOMESTIC OPERATING CO INC 5493003EG7H0N1E4XV50 432833AN1 13965000.00000000 PA USD 11735085.56000000 0.261481484641 Long DBT CORP US N 2 2032-02-15 Fixed 0.03625000 N N N N N N RLJ LODGING TRUST LP 549300RX5I8Z6I6LDZ74 74965LAA9 4000000.00000000 PA USD 3764399.04000000 0.083878438272 Long DBT CORP US N 2 2026-07-01 Fixed 0.03750000 N N N N N N M/I HOMES INC 5299005M71FH9CCSFB69 55305BAV3 17070000.00000000 PA USD 14805683.28000000 0.329900623680 Long DBT CORP US N 2 2030-02-15 Fixed 0.03950000 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 617459AF9 27744754.24170000 PA USD 97661.53000000 0.002176096776 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.00509681 N N N N N N CROWN CASTLE INC 54930012H97VSM0I2R19 22822VAY7 10000000.00000000 PA USD 8069002.20000000 0.179793718933 Long DBT CORP US N 2 2031-07-15 Fixed 0.02500000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T306 1362346.00000000 NS USD 30707278.84000000 0.684220393565 Long EP CORP US N 1 N N N GREAT AJAX CORP 5493004ID2QQWNGDYC18 38983D300 1540164.00000000 NS USD 5313565.80000000 0.118397012703 Long EC CORP US N 1 N N N ASHFORD HOSPITALITY TRUST INC N/A 044103885 71209.00000000 NS USD 989805.10000000 0.022054863233 Long EP CORP US N 1 N N N MPT OPER PARTNERSHIP LP / MPT FIN CORP N/A 55342UAJ3 19835000.00000000 PA USD 14842657.44000000 0.330724482884 Long DBT CORP US N 2 2029-08-01 Fixed 0.04625000 N N N N N N WP CAREY INC 54930042CRNE713E3Q67 92936UAJ8 2000000.00000000 PA USD 1567137.02000000 0.034918988236 Long DBT CORP US N 2 2032-02-01 Fixed 0.02450000 N N N N N N BROOKFIELD PROPERTY PARTNERS LP 5493004J5Z0TZW83NU62 N/A 34125.00000000 NS USD 497426.48000000 0.011083669891 Long EP CORP BM N 1 N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAQ5 5624050.00000000 PA USD 5025654.45000000 0.111981764441 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.05108207 N N N N N N TRICON AMERN HOMES 2018-SFR TR N/A 89613TAF5 8282000.00000000 PA USD 8153735.84000000 0.181681756125 Long ABS-CBDO CORP US N 2 2037-05-17 Fixed 0.04960000 N N N N N N CBL and ASSOCS LTD PARTNERSHIP 549300VS75TWHD9JTH89 12505JAD5 10317000.00000000 PA USD 1.03000000 0.000000022950 Long DBT CORP US N 3 2026-12-15 Fixed 0.05950000 Y Y N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027XCD0 23000000.00000000 PA USD 22461790.34000000 0.500494202260 Long DBT CORP US N 2 2033-07-15 Fixed 0.05550000 N N N N N N HEALTHCARE TRUST INC 549300Z2NSUGF5NF2Y30 42226B204 364800.00000000 NS USD 5304046.08000000 0.118184894052 Long EP CORP US N 1 N N N RITHM CAPITAL CORP 549300WNTHGEO5LP2G31 64828T706 151200.00000000 NS USD 3394440.00000000 0.075635001226 Long EP CORP US N 1 N N N MHP 2022-MHIL MEZZ N/A N/A 23154830.50000000 PA USD 22228637.28000000 0.495299079654 Long LON CORP US N 3 2025-01-09 Variable 0.10320980 N N N N N N EASTGROUP PROPERTIES INC 31TIGQQZC4P6JMHKSW85 277276101 55600.00000000 NS USD 8638016.00000000 0.192472499368 Long EC CORP US N 1 N N N LGI HOMES INC 549300W02B4WNV8CV109 50187TAF3 13310000.00000000 PA USD 11414321.52000000 0.254334211878 Long DBT CORP US N 2 2029-07-15 Fixed 0.04000000 N N N N N N LXP INDUSTRIAL TRUST 549300S4MH2ICXDBFV43 529537AA0 7500000.00000000 PA USD 5837037.83000000 0.130061030223 Long DBT CORP US N 2 2031-10-01 Fixed 0.02375000 N N N N N N UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC N/A 91327TAA9 7000000.00000000 PA USD 7262008.53000000 0.161812264784 Long DBT CORP US N 2 2028-02-15 Fixed 0.10500000 N N N N N N BRIXMOR OPERATING PARTNERSHIP LP 549300CJHBL7JBUA6503 11120VAL7 9000000.00000000 PA USD 7208968.50000000 0.160630425443 Long DBT CORP US N 2 2031-08-16 Fixed 0.02500000 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C9 549300PFVBG5704L7K74 61762DBB6 3302000.00000000 PA USD 2884111.10000000 0.064263839274 Long ABS-MBS CORP US N 2 2046-05-15 Variable 0.03853129 N N N N N N UNITI GROUP LP / UNITI FIBER HOLDINGS INC / CSL CAPITAL LLC N/A 91327AAB8 18035000.00000000 PA USD 14025657.91000000 0.312520077900 Long DBT CORP US N 2 2030-01-15 Fixed 0.06000000 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460W669 43800.00000000 NS USD 996012.00000000 0.022193165541 Long EP CORP US N 1 N N N DIGITAL REALTY TRUST LP CD4SPTZ3YBTHY0C1AH38 25389JAR7 5000000.00000000 PA USD 4726293.45000000 0.105311394777 Long DBT CORP US N 2 2027-08-15 Fixed 0.03700000 N N N N N N AMR HMS 15-SFR2 N/A 02666BAE6 8259000.00000000 PA USD 8204098.30000000 0.182803933781 Long ABS-CBDO CORP US N 2 2052-10-17 Fixed 0.06070000 N N N N N N SIMON PROPERTY GROUP LP MR92GTD0MJTTTTQDVG45 828807DV6 4000000.00000000 PA USD 3868981.76000000 0.086208753185 Long DBT CORP US N 2 2053-03-08 Fixed 0.05850000 N N N N N N BXP TR 2021-601L N/A 05607TAL6 5754000.00000000 PA USD 3349539.77000000 0.074634533122 Long ABS-MBS CORP US N 2 2044-01-15 Variable 0.02867975 N N N N N N VENTAS RLTY LTD PARTNERSHIP 32SXKSJ72K64GM3HOU64 92277GAN7 17000000.00000000 PA USD 16038068.43000000 0.357360661958 Long DBT CORP US N 2 2029-01-15 Fixed 0.04400000 N N N N N N GLP CAP LP / GLP FING II INC N/A 361841AH2 8000000.00000000 PA USD 7897901.60000000 0.175981250870 Long DBT CORP US N 2 2026-04-15 Fixed 0.05375000 N N N N N N CITIGROUP COML MTG TR 2022-GC48 N/A 29426VAM8 2000000.00000000 PA USD 1077009.80000000 0.023997960648 Long ABS-MBS CORP US N 2 2055-06-15 Fixed 0.02500000 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027X100 527200.00000000 NS USD 90446432.00000000 2.015329773181 Long EC CORP US N 1 N N N JPMBB COML MTG SECS TR 2014-C23 N/A 46643AAQ6 8640000.00000000 PA USD 7904421.50000000 0.176126527453 Long ABS-MBS CORP US N 2 2047-09-15 Fixed 0.04709400 N N N N N N BMO 2023-5C2 MORTGAGE TRUST N/A 05610QAF0 10000000.00000000 PA USD 10416195.00000000 0.232093930546 Long ABS-MBS CORP US N 2 2056-11-15 Variable 0.07485495 N N N N N N BENCHMARK 2023-V3 MTG TR N/A 08163VAF4 10000000.00000000 PA USD 10320004.00000000 0.229950600158 Long ABS-MBS CORP US N 2 2056-07-15 Fixed 0.07096700 N N N N N N MSWF COML MTG TR 2023-1 N/A 55376CAW3 3750000.00000000 PA USD 3751089.00000000 0.083581863611 Long ABS-MBS CORP US N 2 2056-05-15 Variable 0.06905569 N N N N N N MHP COML MTG TR 2021-STOR N/A 55293BAR6 3476000.00000000 PA USD 3426214.29000000 0.076342996791 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.09385480 N N N N N N MPT OPER PARTNERSHIP LP / MPT FIN CORP N/A 55342UAH7 5000000.00000000 PA USD 4089800.00000000 0.091129031008 Long DBT CORP US N 2 2027-10-15 Fixed 0.05000000 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027XAW0 23000000.00000000 PA USD 21038904.77000000 0.468789428621 Long DBT CORP US N 2 2029-08-15 Fixed 0.03800000 N N N N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 76169C100 67700.00000000 NS USD 2898237.00000000 0.064578592949 Long EC CORP US N 1 N N SITE CENTERS CORP W2AVA6SODOQ1LCYJQR54 82981J877 124200.00000000 NS USD 2675268.00000000 0.059610391835 Long EP CORP US N 1 N N N JPMBB COML MTG SECS TR 2014-C26 N/A 46643TAL6 2398000.00000000 PA USD 1995437.67000000 0.044462394568 Long ABS-MBS CORP US N 2 2048-01-15 Variable 0.04010093 N N N N N N BX COML MTG TR 2021-CIP N/A 12434FAN7 7790000.00000000 PA USD 7602645.83000000 0.169402354049 Long ABS-MBS CORP US N 2 2038-12-15 Variable 0.08654480 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 617459AJ1 2649494.53000000 PA USD 2543514.75000000 0.056674662458 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.05385010 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 867892804 180000.00000000 NS USD 3753000.00000000 0.083624444563 Long EP CORP US N 1 N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 681936BF6 6752000.00000000 PA USD 6474122.66000000 0.144256571137 Long DBT CORP US N 2 2027-04-01 Fixed 0.04500000 N N N N N N BANK 2023-BNK46 N/A 06541DBN3 5000000.00000000 PA USD 5106776.50000000 0.113789328090 Long ABS-MBS CORP US N 2 2056-08-15 Fixed 0.06385000 N N N N N N STWD TR 2021-LIH N/A 78486EAS7 15282000.00000000 PA USD 14640171.28000000 0.326212680949 Long ABS-MBS CORP US N 2 2036-11-15 Variable 0.08986000 N N N N N N TRICON RESIDENTIAL 2023-SFR1 TRUST N/A 89616WAD0 5000000.00000000 PA USD 4723028.50000000 0.105238645075 Long ABS-CBDO CORP US N 2 2040-07-17 Fixed 0.05100000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T504 942305.00000000 NS USD 21199035.59000000 0.472357467758 Long EP CORP US N 1 N N N FEDERAL NAT MTG ASN GTD REM PA N/A 31393DUL3 35689.51260000 PA USD 25703.59000000 0.000572728067 Long ABS-CBDO USGSE US N 3 2043-06-25 Variable 0.03827180 N N N N N N LXP INDUSTRIAL TRUST 549300S4MH2ICXDBFV43 529043AF8 1000000.00000000 PA USD 1025531.34000000 0.022850916250 Long DBT CORP US N 2 2028-11-15 Fixed 0.06750000 N N N N N N PROLOGIS INC 529900DFH19P073LZ636 74340W103 588830.00000000 NS USD 60090101.50000000 1.338929219744 Long EC CORP US N 1 N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6 N/A 61761DAQ5 2000000.00000000 PA USD 1614815.20000000 0.035981354695 Long ABS-MBS CORP US N 2 2045-11-15 Variable 0.04535835 N N N N N N DIAMONDROCK HOSPITALITY CO 529900KKD4BPVBUAQ734 252784400 448231.00000000 NS USD 11317832.75000000 0.252184246571 Long EP CORP US N 1 N N N AVALONBAY COMMUNITIES INC K9G90K85RBWD2LAGQX17 053484101 106400.00000000 NS USD 20170248.00000000 0.449433995659 Long EC CORP US N 1 N N N SIMON PROPERTY GROUP LP MR92GTD0MJTTTTQDVG45 828807DW4 15000000.00000000 PA USD 15507019.05000000 0.345527805726 Long DBT CORP US N 2 2034-01-15 Fixed 0.06250000 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 617459AL6 4440000.00000000 PA USD 2575200.00000000 0.057380674031 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.05385010 N N N N N N JPMCC 2021-1 N/A 46654BAL1 9552000.00000000 PA USD 5355065.16000000 0.119321702533 Long ABS-MBS CORP US N 2 2042-10-09 Variable 0.02741981 N N N N N N CITIGROUP COML MTG TR 2023-PRM3 N/A 17331LAC1 5000000.00000000 PA USD 4983547.00000000 0.111043525134 Long ABS-MBS CORP US N 2 2028-07-10 Variable 0.06571721 N N N N N N LAMAR ADVERTISING CO 529900Y8WW4MKVPTB543 512816109 150700.00000000 NS USD 17458595.00000000 0.389012872297 Long EC CORP US N 1 N N N CEDAR REALTY TRUST INC 54930056URX93R2RSN82 150602506 291600.00000000 NS USD 3545914.32000000 0.079010156003 Long EP CORP US N 1 N N N 2024-05-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX