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
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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
GDS Holdings Ltd. Sponsored ADR Class A SPONSORED ADS 36165L108   9,105,278 487,957 SH   SOLE   487,957 0 0
Acadia Realty Trust COM SH BEN INT 004239109   24,238,613 1,737,535 SH   SOLE   1,737,535 0 0
American Homes 4 Rent Class A CL A 02665T306   32,186,717 1,023,425 SH   SOLE   1,023,425 0 0
Alexandria Real Estate Equities, Inc. COM 015271109   36,536,265 290,917 SH   SOLE   290,917 0 0
Broadstone Net Lease, Inc. COM 11135E203   20,201,876 1,187,647 SH   SOLE   1,187,647 0 0
CBRE Group, Inc. Class A CL A 015271109   5,077,624 69,738 SH   SOLE   69,738 0 0
Americold Realty Trust, Inc. COM 03064D108   28,862,298 1,014,492 SH   SOLE   1,014,492 0 0
Camden Property Trust COM 133131102   14,346,620 136,843 SH   SOLE   136,843 0 0
CubeSmart COM 229663109   34,693,935 750,626 SH   SOLE   750,626 0 0
CoreCivic, Inc. COM 21871N101   4,267,052 463,810 SH   SOLE   463,810 0 0
DigitalBridge Group, Inc. Class A CL A COM 25401T108   45,000,256 3,753,149 SH   SOLE   3,753,149 0 0
Easterly Government Properties Inc COM 27616P103   10,114,989 736,171 SH   SOLE   736,171 0 0
Ellington Financial Inc. COM 28852N109   28,017,823 2,294,662 SH   SOLE   2,294,662 0 0
Equity LifeStyle Properties, Inc. COM 29472R108   16,155,169 240,655 SH   SOLE   240,655 0 0
Equity Commonwealth COM SH BEN INT 294628102   9,123,707 440,546 SH   SOLE   440,546 0 0
Equinix, Inc. COM 29444U700   20,631,838 28,614 SH   SOLE   28,614 0 0
GEO Group Inc COM 36162J106   6,777,762 859,032 SH   SOLE   859,032 0 0
Independence Realty Trust, Inc. COM 45378A106   61,970,492 3,865,907 SH   SOLE   3,865,907 0 0
Kilroy Realty Corporation COM 49427F108   13,192,892 407,188 SH   SOLE   407,188 0 0
Lamar Advertising Company Class A CL A 512816109   5,326,434 53,323 SH   SOLE   53,323 0 0
Life Storage, Inc. COM 53223X107   3,932,700 30,000 SH   SOLE   30,000 0 0
National Storage Affiliates Trust COM 637417106   14,064,359 336,629 SH   SOLE   336,629 0 0
Prologis, Inc. SH BEN INT 74340W103   41,122,070 329,583 SH   SOLE   329,583 0 0
Rexford Industrial Realty, Inc. COM 76169C100   25,812,942 432,740 SH   SOLE   432,740 0 0
Retail Opportunity Investments Corp. COM 76131N101   25,343,487 1,815,436 SH   SOLE   1,815,436 0 0
SBA Communications Corp. Class A COM 78410G104   59,039,677 226,145 SH   SOLE   226,145 0 0
Sun Communities, Inc. COM 866674104   64,532,199 458,065 SH   SOLE   458,065 0 0
Terreno Realty Corporation COM 88146M101   16,984,115 262,912 SH   SOLE   262,912 0 0
UDR, Inc. COM 902653104   52,467,209 1,277,818 SH   SOLE   1,277,818 0 0
Veris Residential, Inc. COM 554489104   4,614,323 315,186 SH   SOLE   315,186 0 0
Ventas, Inc. COM 92276F100   13,520,388 311,889 SH   SOLE   311,889 0 0
Welltower Inc. COM 95040Q104   9,841,030 137,272 SH   SOLE   137,272 0 0
Elme Communities SH BEN INT 939653101   4,058,953 227,265 SH   SOLE   227,265 0 0