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
AGREE REALTY CORP COMM STK 008492100   73,337 1,121,534 SH   SOLE   161,280 0 960,254
AGREE REALTY CORP COMM STK 008492100   1,359 20,788 SH   OTR   0 0 20,788
ALEXANDRIA REAL ESTATE EQUITIES INC COMM STK 015271109   40,860 360,031 SH   SOLE   58,213 0 301,818
AMERICAN HOMES 4 RENT COMM STK 02665T306   43,307 1,221,625 SH   SOLE   183,700 0 1,037,925
AMERICAN TOWER CORP COMM STK 03027X100   115,474 595,411 SH   SOLE   278,044 0 317,367
AMERICAN TOWER CORP COMM STK 03027X100   1,241 6,399 SH   OTR   0 0 6,399
APARTMENT INCOME REIT CORP COMM STK 03750L109   18,983 525,990 SH   SOLE   15,225 0 510,765
AVALONBAY COMMUNITIES INC COMM STK 053484101   112,690 595,392 SH   SOLE   112,509 0 482,883
CAMDEN PROPERTY TRUST COMM STK 133131102   8,979 82,477 SH   SOLE   8,067 0 74,410
CROWN CASTLE INTL CORP COMM STK 22822V101   16,903 148,350 SH   SOLE   148,350 0 0
CUBESMART COMM STK 229663109   89,353 2,000,740 SH   SOLE   259,764 0 1,740,976
CUBESMART COMM STK 229663109   1,242 27,821 SH   OTR   0 0 27,821
DIGITAL REALTY TRUST INC COMM STK 253868103   139,830 1,227,975 SH   SOLE   224,864 0 1,003,111
DIGITAL REALTY TRUST INC COMM STK 253868103   862 7,573 SH   OTR   0 0 7,573
EQUINIX INC COMM STK 29444U700   130,925 167,009 SH   SOLE   19,735 0 147,274
EQUITY LIFESTYLE PROPERTIES INC COMM STK 29472R108   52,722 788,190 SH   SOLE   118,888 0 669,302
EQUITY RESIDENTIAL COMM STK 29476L107   5,713 86,600 SH   SOLE   86,600 0 0
ESSEX PROPERTY TRUST INC COMM STK 297178105   107,678 459,575 SH   SOLE   83,149 0 376,426
ESSEX PROPERTY TRUST INC COMM STK 297178105   2,111 9,011 SH   OTR   0 0 9,011
FEDERAL REALTY INVESTMENT TRUST COMM STK 313745101   1,496 15,464 SH   SOLE   15,464 0 0
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103   55,291 1,050,354 SH   SOLE   153,556 0 896,798
FIRST INDUSTRIAL REALTY TRUST INC COMM STK 32054K103   1,345 25,560 SH   OTR   0 0 25,560
GAMING AND LEISURE PROP INC COMM STK 36467J108   67,388 1,390,580 SH   SOLE   161,167 0 1,229,413
GAMING AND LEISURE PROP INC COMM STK 36467J108   1,384 28,565 SH   OTR   0 0 28,565
HEALTHCARE REALTY TRUST INC COMM STK 42226K105   36,839 1,953,309 SH   SOLE   216,164 0 1,737,145
HEALTHPEAK PROPERTIES INC COMM STK 42250P103   4,823 239,939 SH   SOLE   131,023 0 108,916
HIGHWOODS PROPERTIES INC COMM STK 431284108   10,344 432,618 SH   SOLE   10,249 0 422,369
HOST HOTELS & RESORTS INC COMM STK 44107P104   30,052 1,785,638 SH   SOLE   45,787 0 1,739,851
INVITATION HOMES INC COMM STK 46187W107   120,166 3,493,200 SH   SOLE   630,925 0 2,862,275
INVITATION HOMES INC COMM STK 46187W107   2,225 64,691 SH   OTR   0 0 64,691
KILROY REALTY CORP COMM STK 49427F108   27,464 912,736 SH   SOLE   108,332 0 804,404
LIFE STORAGE INC COMM STK 53223X107   48,549 365,140 SH   SOLE   35,574 0 329,566
MEDICAL PROPERTIES TRUST INC COMM STK 58463J304   31,351 3,385,644 SH   SOLE   373,209 0 3,012,435
NATIONAL HEALTH INVESTORS INC COMM STK 63633D104   29,389 560,646 SH   SOLE   81,107 0 479,539
OUTFRONT MEDIA INC COMM STK 69007J106   23,825 1,515,561 SH   SOLE   213,072 0 1,302,489
OUTFRONT MEDIA INC COMM STK 69007J106   943 60,010 SH   OTR   0 0 60,010
PARK HOTELS & RESORTS INC COMM STK 700517105   19,129 1,492,095 SH   SOLE   99,581 0 1,392,514
PROLOGIS INC COMM STK 74340W103   193,109 1,574,725 SH   SOLE   201,880 0 1,372,845
PUBLIC STORAGE COMM STK 74460D109   146,299 501,231 SH   SOLE   117,206 0 384,025
REALTY INCOME CORP COMM STK 756109104   117,044 1,957,593 SH   SOLE   233,339 0 1,724,254
REGENCY CENTERS CORP COMM STK 758849103   23,728 384,134 SH   SOLE   49,432 0 334,702
RETAIL OPPORTUNITY INVESTMENTS CORP COMM STK 76131N101   39,791 2,945,278 SH   SOLE   281,112 0 2,664,166
RETAIL OPPORTUNITY INVESTMENTS CORP COMM STK 76131N101   1,195 88,444 SH   OTR   0 0 88,444
REXFORD INDUSTRIAL REALTY INC COMM STK 76169C100   85,033 1,628,360 SH   SOLE   281,802 0 1,346,558
REXFORD INDUSTRIAL REALTY INC COMM STK 76169C100   1,864 35,696 SH   OTR   0 0 35,696
SABRA HEALTHCARE REIT INC COMM STK 78573L106   31,710 2,694,134 SH   SOLE   292,856 0 2,401,278
SBA COMMUNICATIONS CORP COMM STK 78410G104   3,682 15,887 SH   SOLE   15,887 0 0
SIMON PROPERTY GROUP INC COMM STK 828806109   80,275 695,144 SH   SOLE   89,163 0 605,981
SPIRIT REALTY CAPITAL INC COMM STK 84860W300   24,778 629,206 SH   SOLE   63,711 0 565,495
SUN COMMUNITIES INC COMM STK 866674104   5,548 42,525 SH   SOLE   11,045 0 31,480
URBAN EDGE PROPERTIES COMM STK 91704F104   30,192 1,956,700 SH   SOLE   185,814 0 1,770,886
VENTAS INC COMM STK 92276F100   56,600 1,197,383 SH   SOLE   257,063 0 940,320
VICI PROPERTIES INC COMM STK 925652109   101,404 3,226,340 SH   SOLE   561,812 0 2,664,528
VORNADO REALTY TRUST COMM STK 929042109   19,208 1,058,900 SH   SOLE   125,438 0 933,462
WELLTOWER INC COMM STK 95040Q104   89,197 1,102,698 SH   SOLE   137,980 0 964,718
WEYERHAEUSER CO COMM STK 962166104   691 20,629 SH   SOLE   20,629 0 0