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

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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 REALTY CORP COM 008492100   24,830,545 379,730 SH   DFND 1,2,3 321,980 0 57,750
ALEXANDRIA REAL ESTATE EQUITIES, INC. COM 015271109   4,017,546 35,400 SH   DFND 1,2,3 35,400 0 0
AMERICAN HOMES 4 RENT COM 02665T306   64,641,267 1,823,449 SH   DFND 1,2,3 1,449,733 0 373,716
AMERICAN TOWER CORP COM 03027X100   35,075,794 180,859 SH   DFND 1,2,3 180,859 0 0
AMERICOLD REALTY TRUST COM 03064D108   50,230,602 1,555,127 SH   DFND 1,2,3 1,397,387 0 157,740
AVALONBAY COMMUNITIES, INC. COM 053484101   148,931,074 786,871 SH   DFND 1,2,3 626,372 0 160,499
BOSTON PROPERTIES, INC. COM 101121101   43,270,477 751,354 SH   DFND 1,2,3 645,224 0 106,130
BRIXMOR PROPERTY GROUP INC COM 11120U105   71,530,910 3,251,405 SH   DFND 1,2,3 2,786,485 0 464,920
BROADSTONE NET LEASE INC COM 11135E203   13,032,286 844,060 SH   DFND 1,2,3 756,340 0 87,720
CAMDEN PROPERTY TRUST COM 133131102   16,690,315 153,305 SH   DFND 1,2,3 97,775 0 55,530
COUSINS PROPERTIES INCORPORATED COM 222795502   37,104,264 1,627,380 SH   DFND 1,2,3 1,373,170 0 254,210
CUBESMART L.P. COM 229663109   68,017,895 1,523,016 SH   DFND 1,2,3 1,365,126 0 157,890
DIGITAL REALTY TRUST INC COM 253868103   85,326,776 749,335 SH   DFND 1,2,3 631,385 0 117,950
EASTGROUP PROPERTIES, INC. COM 277276101   52,537,262 302,634 SH   DFND 1,2,3 267,184 0 35,450
EQUINIX, INC. COM 29444U700   242,058,722 308,772 SH   DFND 1,2,3 279,212 0 29,560
EQUITY LIFESTYLE PROPERTIES INC COM 29472R108   14,237,737 212,853 SH   DFND 1,2,3 154,813 0 58,040
EQUITY RESIDENTIAL COM 29476L107   29,391,680 445,531 SH   DFND 1,2,3 303,701 0 141,830
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   17,432,877 740,564 SH   DFND 1,2,3 628,384 0 112,180
ESSEX PROPERTY TRUST, INC. COM 297178105   82,587,001 352,484 SH   DFND 1,2,3 275,374 0 77,110
EXTRA SPACE STORAGE INC. COM 30225T102   51,656,457 347,037 SH   DFND 1,2,3 315,497 0 31,540
FIRST INDUSTRIAL REALTY TRUST, INC. COM 32054K103   17,249,075 327,680 SH   DFND 1,2,3 327,680 0 0
GAMING AND LEISURE PROPERTIES INC COM 36467J108   2,454,014 50,640 SH   DFND 1,2,3 50,640 0 0
HEALTHCARE REALTY TRUST INCORPORATED COM 42226K105   36,546,342 1,937,770 SH   DFND 1,2,3 1,681,120 0 256,650
HEALTHPEAK PPTYS INC COM 42250P103   2,109,897 104,970 SH   DFND 1,2,3 104,970 0 0
INDEPENDENCE REALTY TRUST INC COM 45378A106   22,184,544 1,217,593 SH   DFND 1,2,3 979,308 0 238,285
INVITATION HOMES INC COM 46187W107   66,935,658 1,945,804 SH   DFND 1,2,3 1,523,904 0 421,900
IRON MOUNTAIN INCORPORATED COM 46284V101   6,081,445 107,030 SH   DFND 1,2,3 107,030 0 0
LIFE STORAGE INC COM 53223X107   15,055,061 113,230 SH   DFND 1,2,3 113,230 0 0
MID-AMER APT CMNTYS INC COM 59522J103   20,503,530 135,016 SH   DFND 1,2,3 92,086 0 42,930
NETSTREIT CORP COM 64119V303   42,157,046 2,359,096 SH   DFND 1,2,3 2,023,186 0 335,910
PHYSICIANS REALTY TR COM 71943U104   21,443,522 1,532,775 SH   DFND 1,2,3 1,303,805 0 228,970
PROLOGIS INC. COM 74340W103   309,180,888 2,521,250 SH   DFND 1,2,3 2,293,163 0 228,087
PUBLIC STORAGE COM 74460D109   108,763,244 372,630 SH   DFND 1,2,3 342,700 0 29,930
REALTY INCOME CORPORATION COM 756109104   29,953,594 500,980 SH   DFND 1,2,3 428,520 0 72,460
REGENCY CENTERS COM 758849103   41,927,623 678,770 SH   DFND 1,2,3 571,730 0 107,040
REXFORD INDUSTRIAL REALTY, INC. COM 76169C100   71,012,934 1,359,880 SH   DFND 1,2,3 1,225,066 0 134,814
RYMAN HOSPITALITY PROPERTIES INC COM 78377T107   56,196,529 604,784 SH   DFND 1,2,3 515,250 0 89,534
SIMON PROPERTY GRP INC COM 828806109   59,835,385 518,145 SH   DFND 1,2,3 443,185 0 74,960
SUN COMMUNITIES INC COM 866674104   100,286,689 768,716 SH   DFND 1,2,3 609,938 0 158,778
TANGER FACTORY OUTLET CENTERS, INC. COM 875465106   22,665,956 1,027,003 SH   DFND 1,2,3 865,961 0 161,042
UDR INC COM 902653104   101,174,108 2,355,077 SH   DFND 1,2,3 1,891,857 0 463,220
VENTAS INC. COM 92276F100   107,555,653 2,275,347 SH   DFND 1,2,3 2,027,517 0 247,830
VERIS RESIDENTIAL, INC. COM 554489104   4,679,153 291,536 SH   DFND 1,2,3 224,373 0 67,163
VICI PROPERTIES INC COM 925652109   110,775,915 3,524,528 SH   DFND 1,2,3 3,036,132 0 488,396
W. P. CAREY INC COM 92936U109   7,096,502 105,040 SH   DFND 1,2,3 105,040 0 0
WELLTOWER INC COM 95040Q104   61,540,222 760,789 SH   DFND 1,2,3 706,433 0 54,356