The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
PROLOGIS INC. COM 74340W103   20,775,116 169,413 SH   OTR 1 169,413 0 0
AMERICAN TOWER CORP NEW COM 03027X100   18,415,767 94,956 SH   OTR 1 94,956 0 0
PROLOGIS INC. COM 74340W103   17,280,958 140,920 SH   SOLE 0 140,920 0 0
AMERICAN TOWER CORP NEW COM 03027X100   14,345,354 73,968 SH   SOLE 0 73,968 0 0
EQUINIX INC COM 29444U700   14,028,606 17,895 SH   OTR 1 17,895 0 0
EQUINIX INC COM 29444U700   13,684,457 17,456 SH   SOLE 0 17,456 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   13,206,741 897,807 SH   OTR 1 897,807 0 0
REXFORD INDL RLTY INC COM 76169C100   12,035,666 230,480 SH   SOLE 0 230,480 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   11,563,619 786,106 SH   SOLE 0 786,106 0 0
FTAI AVIATION LTD SHS G3730V105   10,853,903 342,827 SH   OTR 1 342,827 0 0
REXFORD INDL RLTY INC COM 76169C100   10,300,656 197,255 SH   OTR 1 197,255 0 0
CROWN CASTLE INC COM 22822V101   9,106,655 79,925 SH   OTR 1 79,925 0 0
MGM RESORTS INTERNATIONAL COM 552953101   9,100,971 207,217 SH   OTR 1 207,217 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100   8,689,519 170,483 SH   OTR 1 170,483 0 0
WYNN RESORTS LTD COM 983134107   8,516,496 80,641 SH   OTR 1 80,641 0 0
VICI PPTYS INC COM 925652109   8,414,094 267,709 SH   OTR 1 267,709 0 0
FTAI AVIATION LTD SHS G3730V105   8,139,596 257,094 SH   SOLE 0 257,094 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100   7,870,482 154,414 SH   SOLE 0 154,414 0 0
CROWN CASTLE INC COM 22822V101   7,859,012 68,975 SH   SOLE 0 68,975 0 0
MGM RESORTS INTERNATIONAL COM 552953101   7,833,879 178,367 SH   SOLE 0 178,367 0 0
DIGITAL RLTY TR INC COM 253868103   7,464,406 65,552 SH   OTR 1 65,552 0 0
WYNN RESORTS LTD COM 983134107   7,201,757 68,192 SH   SOLE 0 68,192 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   6,841,745 60,285 SH   SOLE 0 60,285 0 0
DIGITAL RLTY TR INC COM 253868103   6,829,126 59,973 SH   SOLE 0 59,973 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   6,742,080 1,827,122 SH   OTR 1 1,827,122 0 0
VICI PPTYS INC COM 925652109   6,506,293 207,009 SH   SOLE 0 207,009 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   6,394,947 1,733,048 SH   SOLE 0 1,733,048 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   6,255,342 55,118 SH   OTR 1 55,118 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   6,230,993 192,910 SH   OTR 1 192,910 0 0
INVITATION HOMES INC COM 46187W107   5,893,477 171,322 SH   SOLE 0 171,322 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   5,825,079 180,343 SH   SOLE 0 180,343 0 0
SUN CMNTYS INC COM 866674104   5,722,106 43,861 SH   SOLE 0 43,861 0 0
INVITATION HOMES INC COM 46187W107   5,719,654 166,269 SH   OTR 1 166,269 0 0
SUN CMNTYS INC COM 866674104   5,679,837 43,537 SH   OTR 1 43,537 0 0
LAS VEGAS SANDS CORP COM 517834107   5,560,924 95,878 SH   OTR 1 95,878 0 0
AMERICAN HOMES 4 RENT CL A 02665T306   5,324,874 150,208 SH   SOLE 0 150,208 0 0
AMERICAN HOMES 4 RENT CL A 02665T306   5,099,766 143,858 SH   OTR 1 143,858 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   4,974,728 21,465 SH   SOLE 0 21,465 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   4,622,917 19,947 SH   OTR 1 19,947 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   4,577,045 131,411 SH   OTR 1 131,411 0 0
CADIZ INC COM NEW 127537207   4,405,977 1,085,216 SH   OTR 1 1,085,216 0 0
EXTRA SPACE STORAGE INC COM 30225T102   4,329,749 29,088 SH   SOLE 0 29,088 0 0
EXTRA SPACE STORAGE INC COM 30225T102   4,155,445 27,917 SH   OTR 1 27,917 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108   4,058,484 60,674 SH   OTR 1 60,674 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   3,865,573 110,984 SH   SOLE 0 110,984 0 0
LAS VEGAS SANDS CORP COM 517834107   3,630,336 62,592 SH   SOLE 0 62,592 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108   3,485,303 52,105 SH   SOLE 0 52,105 0 0
PUBLIC STORAGE COM 74460D109   2,854,295 9,779 SH   SOLE 0 9,779 0 0
CADIZ INC COM NEW 127537207   2,643,641 651,143 SH   SOLE 0 651,143 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   2,249,029 111,892 SH   OTR 1 111,892 0 0
COSTAR GROUP INC COM 22160N109   2,195,541 24,669 SH   SOLE 0 24,669 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   1,607,839 79,992 SH   SOLE 0 79,992 0 0
CBRE GROUP INC CL A 12504L109   1,530,342 18,961 SH   SOLE 0 18,961 0 0
BROOKFIELD INFRASTRUCTURE CO COM SB VTG SHS A 11275Q107   1,101,988 24,177 SH   SOLE 0 24,177 0 0
IRON MTN INC DEL COM 46284V101   1,039,806 18,300 SH   SOLE 0 18,300 0 0
CUBESMART COM 229663109   833,132 18,655 SH   SOLE 0 18,655 0 0
BROOKFIELD RENEWABLE CORP CL A SUB VTG 11284V105   560,236 17,774 SH   SOLE 0 17,774 0 0
WEWORK INC CL A 96209A104   374,008 1,464,402 SH   OTR 1 1,464,402 0 0
WEWORK INC CL A 96209A104   270,029 1,057,278 SH   SOLE 0 1,057,278 0 0