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
EQUINIX INC COM 29444U700   29,465,953 37,587 SH   SOLE   0 11,061 26,526
OMEGA HEALTHCARE INVS INC COM 681936100   7,244,068 236,040 SH   SOLE   0 80,390 155,650
WELLTOWER INC COM 95040Q104   26,475,297 327,300 SH   SOLE   0 102,110 225,190
INNOVATIVE INDL PPTYS INC COM 45781V101   1,945,351 26,645 SH   SOLE   0 11,502 15,143
PROLOGIS INC. COM 74340W103   35,593,480 290,251 SH   SOLE   0 84,899 205,352
REXFORD INDL RLTY INC COM 76169C100   12,740,949 243,986 SH   SOLE   0 67,620 176,366
AMERICAN TOWER CORP NEW COM 03027X100   4,494,560 23,175 SH   SOLE   0 0 23,175
CROWN CASTLE INTL CORP NEW COM 22822V101   8,619,561 75,650 SH   SOLE   0 0 75,650
SBA COMMUNICATIONS CORP NEW CL A 78410G104   23,875,683 103,019 SH   SOLE   0 13,540 89,479
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   13,689,958 120,627 SH   SOLE   0 40,471 80,156
APARTMENT INCOME REIT CORP COM 03750L109   9,480,699 262,696 SH   SOLE   0 66,083 196,613
AMERICAN HOMES 4 RENT CL A 02665T306   10,565,270 298,033 SH   SOLE   0 88,880 209,153
UDR INC COM 902653104   9,273,775 215,870 SH   SOLE   0 57,670 158,200
UMH PPTYS INC COM 903002103   10,532,977 659,135 SH   SOLE   0 147,422 511,713
VERIS RESIDENTIAL INC COM 554489104   6,662,195 415,090 SH   SOLE   0 138,700 276,390
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   6,689,927 284,194 SH   SOLE   0 99,350 184,844
FOUR CORNERS PPTY TR INC COM 35086T109   4,102,100 161,500 SH   SOLE   0 0 161,500
GETTY RLTY CORP NEW COM 374297109   4,598,844 135,980 SH   SOLE   0 0 135,980
KIMCO RLTY CORP COM 49446R109   9,819,180 497,930 SH   SOLE   0 127,715 370,215
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201   7,136,182 209,395 SH   SOLE   0 69,328 140,067
SIMON PPTY GROUP INC NEW COM 828806109   17,989,474 155,780 SH   SOLE   0 53,200 102,580
CUBESMART COM 229663109   6,727,582 150,640 SH   SOLE   0 52,740 97,900
NATIONAL STORAGE AFFILIATES COM SH BEN IN 637870106   15,246,798 437,749 SH   SOLE   0 137,200 300,549
GAMING & LEISURE PPTYS INC COM 36467J108   1,143,898 23,605 SH   SOLE   0 23,605 0
GLADSTONE LD CORP COM 376549101   3,954,212 243,037 SH   SOLE   0 106,362 136,675
SAFEHOLD INC COM 78646V107   9,922,367 418,136 SH   SOLE   0 104,100 314,036
VICI PPTYS INC COM 925652109   2,434,254 77,450 SH   SOLE   0 77,450 0