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
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 11,816 73,126 SH   SOLE   73,126 0 0
AMERICOLD RLTY TR COM 03064D108 37,269 1,062,993 SH   SOLE   1,062,993 0 0
APARTMENT INVT & MGMT CO CL A 03748R754 16,625 321,876 SH   SOLE   321,876 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 24,370 1,547,297 SH   SOLE   1,547,297 0 0
BROADMARK RLTY CAP INC COM 11135B100 18,476 1,449,083 SH   SOLE   1,449,083 0 0
CAMDEN PPTY TR SH BEN INT 133131102 21,533 202,946 SH   SOLE   202,946 0 0
ELDORADO RESORTS INC COM 28470R102 4,744 79,538 SH   SOLE   79,538 0 0
EQUINIX INC COM 29444U700 30,775 52,724 SH   SOLE   52,724 0 0
ESSEX PPTY TR INC COM 297178105 19,119 63,549 SH   SOLE   63,549 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 2,421 162,891 SH   SOLE   162,891 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 23,374 563,099 SH   SOLE   563,099 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 6,734 238,889 SH   SOLE   238,889 0 0
FRONT YD RESIDENTIAL CORP COM 35904G107 815 66,032 SH   SOLE   66,032 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 29,458 571,106 SH   SOLE   571,106 0 0
GENERAC HLDGS INC COM 368736104 5,640 56,066 SH   SOLE   56,066 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 26,642 879,861 SH   SOLE   879,861 0 0
HEALTHPEAK PPTYS INC COM 42250P103 18,166 527,005 SH   SOLE   527,005 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 4,386 39,544 SH   SOLE   39,544 0 0
HOST HOTELS & RESORTS INC COM 44107P104 5,871 316,475 SH   SOLE   316,475 0 0
HOVNANIAN ENTERPRISES INC CL A NEW 442487401 2,527 121,081 SH   SOLE   121,081 0 0
HUDSON PAC PPTYS INC COM 444097109 26,793 711,643 SH   SOLE   711,643 0 0
INTERXION HOLDING N.V SHS N47279109 11,997 143,140 SH   SOLE   143,140 0 0
JBG SMITH PPTYS COM 46590V100 10,218 256,152 SH   SOLE   256,152 0 0
KB HOME COM 48666K109 8,790 256,488 SH   SOLE   256,488 0 0
LAS VEGAS SANDS CORP COM 517834107 5,022 72,738 SH   SOLE   72,738 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 7,141 166,700 SH Call SOLE   166,700 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 7,324 170,972 SH   SOLE   170,972 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 14,680 695,387 SH   SOLE   695,387 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 35,002 1,130,202 SH   SOLE   1,130,202 0 0
POSTAL REALTY TRUST INC CL A 73757R102 6,791 400,628 SH   SOLE   400,628 0 0
PROLOGIS INC COM 74340W103 6,486 72,760 SH   SOLE   72,760 0 0
QTS RLTY TR INC COM CL A 74736A103 5,926 109,198 SH   SOLE   109,198 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 4,564 34,188 SH   SOLE   34,188 0 0
RPT REALTY SH BEN INT 74971D101 14,999 997,273 SH   SOLE   997,273 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 17,806 205,466 SH   SOLE   205,466 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 14,405 59,774 SH   SOLE   59,774 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 21,183 430,720 SH   SOLE   430,720 0 0
STARWOOD PPTY TR INC COM 85571B105 14,752 593,397 SH   SOLE   593,397 0 0
SUN CMNTYS INC COM 866674104 24,527 163,407 SH   SOLE   163,407 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 7,828 562,389 SH   SOLE   562,389 0 0
TRI POINTE GROUP INC COM 87265H109 6,622 425,055 SH   SOLE   425,055 0 0
VEREIT INC COM 92339V100 18,912 2,046,731 SH   SOLE   2,046,731 0 0
VORNADO RLTY TR SH BEN INT 929042109 15,794 237,500 SH   SOLE   237,500 0 0
VULCAN MATLS CO COM 929160109 8,273 57,455 SH   SOLE   57,455 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 18,059 578,061 SH   SOLE   578,061 0 0
WEYERHAEUSER CO COM 962166104 8,630 285,755 SH   SOLE   285,755 0 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 4,453 70,893 SH   SOLE   70,893 0 0