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 004239109 1,176 42,960 SH   DFND 1 42,960 0 0
AGREE RLTY CORP COM 008492100 1,982 30,945 SH   DFND 1 30,945 0 0
ALEXANDRIA REAL ESTATE EQUITIES INC COM 015271109 5,599 39,684 SH   DFND 1 39,684 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 2,018 43,710 SH   DFND 1 43,710 0 0
AMERICAN HOMES 4 RENT COM 02665T306 2,321 95,489 SH   DFND 1 95,489 0 0
AMERICAN TOWER CORP COM 03027X100 1,567 7,665 SH   DFND 1 7,665 0 0
AMERICOLD RLTY TR COM 03064D108 1,394 42,990 SH   DFND 1 42,990 0 0
ANTERO RES CORP COM 03674X106 256 46,320 SH   DFND 1 46,320 0 0
APARTMENT INVESTMENT & MANAGEMENT CL A 03748R754 1,552 30,963 SH   DFND 1 30,963 0 0
AVALONBAY CMNTYS INC COM 053484101 6,962 34,263 SH   DFND 1 34,263 0 0
BSTN PPTYS INC COM 101121101 6,179 47,901 SH   DFND 1 47,901 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 1,766 98,770 SH   DFND 1 98,770 0 0
CAMDEN PPTY TR SH BEN INT 133131102 2,572 24,640 SH   DFND 1 24,640 0 0
CARETRUST REIT INC COM 14174T107 1,861 78,270 SH   DFND 1 78,270 0 0
CONTURA ENERGY INC COM 21241B100 222 3,214 SH   DFND 1 3,214 0 0
CORESITE RLTY CORP COM 21870Q105 1,129 9,800 SH   DFND 1 9,800 0 0
CORECIVIC INC COM 21871N101 677 32,600 SH   DFND 1 32,600 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 1,636 62,055 SH   DFND 1 62,055 0 0
COUSINS PPTYS INC COM 222795502 2,351 64,985 SH   DFND 1 64,985 0 0
CUBESMART COM 229663109 1,933 57,800 SH   DFND 1 57,800 0 0
CYRUSONE INC COM 23283R100 2,194 38,011 SH   DFND 1 38,011 0 0
DIGITAL RLTY TR INC COM 253868103 6,762 57,410 SH   DFND 1 57,410 0 0
DOUGLAS EMMETT INC COM 25960P109 2,571 64,534 SH   DFND 1 64,534 0 0
DUKE RLTY CORP COM NEW 264411505 3,527 111,585 SH   DFND 1 111,585 0 0
EPR PPTYS COM SH BEN INT 26884U109 2,403 32,219 SH   DFND 1 32,219 0 0
EASTGROUP PPTYS INC COM 277276101 2,397 20,670 SH   DFND 1 20,670 0 0
EQUINIX INC COM 29444U700 12,009 23,813 SH   DFND 1 23,813 0 0
EQTY LIFESTYLE PPTYS INC COM 29472R108 3,343 27,553 SH   DFND 1 27,553 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 8,346 109,934 SH   DFND 1 109,934 0 0
ESSEX PPTY TR COM 297178105 6,699 22,947 SH   DFND 1 22,947 0 0
EXTRA SPACE STORAGE INC COM 30225T102 3,831 36,108 SH   DFND 1 36,108 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 3,666 28,475 SH   DFND 1 28,475 0 0
GEO GROUP INC NEW COM 36162J106 940 44,740 SH   DFND 1 44,740 0 0
GAMING & LEISURE PPTYS INC COM COM 36467J108 3,389 86,942 SH   DFND 1 86,942 0 0
HCP INC COM COM 40414L109 5,241 163,881 SH   DFND 1 163,881 0 0
HEMISPHERE MEDIA GROUP INC CL A 42365Q103 12,027 930,913 SH   DFND 1 930,913 0 0
HIGHWOODS PPTYS INC COM 431284108 1,171 28,360 SH   DFND 1 28,360 0 0
HOST HOTELS & RESORTS INC COM 44107P104 5,073 278,413 SH   DFND 1 278,413 0 0
HUDSON PACIFIC PROPERTIES INC COM 444097109 1,976 59,385 SH   DFND 1 59,385 0 0
INVITATION HOMES INC COM 46187W107 2,752 102,965 SH   DFND 1 102,965 0 0
IRON MTN INC NEW COM 46284V101 2,120 67,716 SH   DFND 1 67,716 0 0
JBG SMITH PPTYS COM 46590V100 1,366 34,730 SH   DFND 1 34,730 0 0
KILROY RLTY CORP COM 49427F108 2,589 35,074 SH   DFND 1 35,074 0 0
KIMCO RLTY CORP COM 49446R109 2,584 139,810 SH   DFND 1 139,810 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 1,465 18,150 SH   DFND 1 18,150 0 0
LIBERTY PPTY TR SH BEN INT 531172104 1,758 35,140 SH   DFND 1 35,140 0 0
MACERICH CO COM 554382101 738 22,034 SH   DFND 1 22,034 0 0
MEDICAL PPTYS TR INC COM 58463J304 2,805 160,850 SH   DFND 1 160,850 0 0
MID-AMER APT CMNTYS INC COM 59522J103 2,411 20,470 SH   DFND 1 20,470 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 1,981 37,361 SH   DFND 1 37,361 0 0
NATIONAL STORAGE AFFILIATES TR CO COM SHS BEN IN 637870106 1,475 50,955 SH   DFND 1 50,955 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 2,250 61,230 SH   DFND 1 61,230 0 0
OUTFRONT MEDIA INC COM 69007J106 980 37,980 SH   DFND 1 37,980 0 0
PARK HOTELS & RESORTS INC COM 700517105 2,585 93,790 SH   DFND 1 93,790 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 1,834 65,095 SH   DFND 1 65,095 0 0
PROLOGIS INC COM 74340W103 14,993 187,173 SH   DFND 1 187,173 0 0
PUB STORAGE COM 74460D109 8,231 34,561 SH   DFND 1 34,561 0 0
RLJ LODGING TR COM 74965L101 600 33,800 SH   DFND 1 33,800 0 0
REALTY INCOME CORP COM 756109104 6,135 88,953 SH   DFND 1 88,953 0 0
REGENCY CTRS CORP COM 758849103 4,048 60,649 SH   DFND 1 60,649 0 0
REXFORD INDL RLTY INC COM 76169C100 2,348 58,169 SH   DFND 1 58,169 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 2,486 30,660 SH   DFND 1 30,660 0 0
SL GREEN RLTY CORP COM 78440X101 983 12,235 SH   DFND 1 12,235 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,584 80,465 SH   DFND 1 80,465 0 0
SIMON PROPERTY GROUP INC COM 828806109 13,791 86,323 SH   DFND 1 86,323 0 0
SITE CENTERS CORP COM 82981J109 983 74,270 SH   DFND 1 74,270 0 0
STAG INDL INC COM 85254J102 770 25,450 SH   DFND 1 25,450 0 0
STORE CAPITAL CORPORATION COM 862121100 2,769 83,420 SH   DFND 1 83,420 0 0
SUN COMMUNITIES INC C COM 866674104 3,607 28,137 SH   DFND 1 28,137 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 586 42,710 SH   DFND 1 42,710 0 0
TAUBMAN CTRS INC COM 876664103 1,187 29,070 SH   DFND 1 29,070 0 0
UDR INC COM 902653104 4,318 96,190 SH   DFND 1 96,190 0 0
VENTAS INC COM 92276F100 5,166 75,578 SH   DFND 1 75,578 0 0
VEREIT INC COM 92339V100 1,059 117,575 SH   DFND 1 117,575 0 0
VICI PPTYS INC COM 925652109 3,116 141,400 SH   DFND 1 141,400 0 0
VORNADO RLTY TR COM 929042109 2,115 33,000 SH   DFND 1 33,000 0 0
W P CAREY INC COM 92936U109 2,553 31,450 SH   DFND 1 31,450 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 586 21,930 SH   DFND 1 21,930 0 0
WELLTOWER INC COM 95040Q104 9,351 114,695 SH   DFND 1 114,695 0 0