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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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
GDS Holdings Ltd. Sponsored ADR Class A SPONSORED ADS 36165L108 16,421 929,854 SH   SOLE   929,854 0 0
Acadia Realty Trust COM SH BEN INT 004239109 17,439 1,381,850 SH   SOLE   1,381,850 0 0
American Homes 4 Rent Class A CL A 02665T306 47,521 1,448,372 SH   SOLE   1,448,372 0 0
Alexandria Real Estate Equities, Inc. COM 03027X100 82,311 587,142 SH   SOLE   587,142 0 0
Broadstone Net Lease, Inc. COM 11135E203 29,369 1,891,082 SH   SOLE   1,891,082 0 0
CBRE Group, Inc. Class A COM 015271109 53,777 796,580 SH   SOLE   796,580 0 0
Americold Realty Trust, Inc. CL A 12504L109 113,226 4,602,698 SH   SOLE   4,602,698 0 0
Camden Property Trust COM 03064D108 38,254 320,249 SH   SOLE   320,249 0 0
CubeSmart COM 229663109 21,109 526,945 SH   SOLE   526,945 0 0
CoreCivic, Inc. COM 21871N101 4,100 463,810 SH   SOLE   463,810 0 0
DigitalBridge Group, Inc. Class A CL A COM 25401T108 44,945 3,592,752 SH   SOLE   3,592,752 0 0
Easterly Government Properties Inc COM 27616P103 17,208 1,091,185 SH   SOLE   1,091,185 0 0
Ellington Financial Inc. COM 28852N109 29,569 2,600,621 SH   SOLE   2,600,621 0 0
Equity LifeStyle Properties, Inc. COM 29444U700 18,798 299,147 SH   SOLE   299,147 0 0
Equinix, Inc. COM 30225T102 32,817 57,691 SH   SOLE   57,691 0 0
GEO Group Inc COM 36467J108 6,615 859,032 SH   SOLE   859,032 0 0
Independence Realty Trust, Inc. COM 45378A106 42,820 2,559,497 SH   SOLE   2,559,497 0 0
Kilroy Realty Corporation COM 49427F108 21,420 508,671 SH   SOLE   508,671 0 0
Lamar Advertising Company Class A CL A 512816109 25,859 313,476 SH   SOLE   313,476 0 0
National Storage Affiliates Trust COM 637417106 15,940 383,352 SH   SOLE   383,352 0 0
Corporate Office Properties Trust COM SHS BEN IN 637870106 12,429 535,055 SH   SOLE   535,055 0 0
Potlatchdeltic Corp COM 737630103 33,601 818,727 SH   SOLE   818,727 0 0
Prologis, Inc. SH BEN INT 22002T108 45,167 444,553 SH   SOLE   444,553 0 0
Rexford Industrial Realty, Inc. COM 74340W103 27,326 525,492 SH   SOLE   525,492 0 0
Retail Opportunity Investments Corp. COM 76131N101 28,489 2,070,391 SH   SOLE   2,070,391 0 0
SBA Communications Corp. Class A COM 78410G104 12,611 44,305 SH   SOLE   44,305 0 0
Sun Communities, Inc. COM 866674104 98,179 725,475 SH   SOLE   725,475 0 0
UDR, Inc. COM 902653104 62,857 1,506,992 SH   SOLE   1,506,992 0 0
Ventas, Inc. COM 92276F100 40,617 1,011,135 SH   SOLE   1,011,135 0 0
Welltower, Inc COM 95040Q104 17,067 265,339 SH   SOLE   265,339 0 0
Washington Real Estate Investment Trust SH BEN INT 939653101 10,700 609,322 SH   SOLE   609,322 0 0
Weyerhaeuser Company COM 962166104 31,509 1,103,248 SH   SOLE   1,103,248 0 0