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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
EQUINIX INC COM 29444U700   29,863,314 41,417 SH   SOLE   0 12,091 29,326
OMEGA HEALTHCARE INVS INC COM 681936100   7,492,249 273,340 SH   SOLE   0 101,290 172,050
WELLTOWER INC COM 95040Q104   27,607,819 385,100 SH   SOLE   0 110,410 274,690
INNOVATIVE INDL PPTYS INC COM 45781V101   2,011,835 26,475 SH   SOLE   0 11,732 14,743
PROLOGIS INC. COM 74340W103   36,214,617 290,251 SH   SOLE   0 84,899 205,352
REXFORD INDL RLTY INC COM 76169C100   13,289,185 222,786 SH   SOLE   0 64,720 158,066
AMERICAN TOWER CORP NEW COM 03027X100   4,735,580 23,175 SH   SOLE   0 0 23,175
CROWN CASTLE INTL CORP NEW COM 22822V101   9,121,196 68,150 SH   SOLE   0 0 68,150
SBA COMMUNICATIONS CORP NEW CL A 78410G104   22,859,028 87,559 SH   SOLE   0 7,440 80,119
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   12,568,670 100,077 SH   SOLE   0 29,721 70,356
APARTMENT INCOME REIT CORP COM 03750L109   10,035,609 280,246 SH   SOLE   0 83,633 196,613
AMERICAN HOMES 4 RENT CL A 02665T306   10,089,254 320,803 SH   SOLE   0 88,650 232,153
UDR INC COM 902653104   10,026,441 244,190 SH   SOLE   0 72,890 171,300
UMH PPTYS INC COM 903002103   13,142,912 888,635 SH   SOLE   0 271,922 616,713
VERIS RESIDENTIAL INC COM 554489104   7,418,674 506,740 SH   SOLE   0 202,850 303,890
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   6,550,311 263,594 SH   SOLE   0 78,750 184,844
GETTY RLTY CORP NEW COM 374297109   4,557,074 126,480 SH   SOLE   0 0 126,480
KIMCO RLTY CORP COM 49446R109   10,321,214 528,480 SH   SOLE   0 158,265 370,215
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201   7,465,576 228,865 SH   SOLE   0 87,628 141,237
SIMON PPTY GROUP INC NEW COM 828806109   18,640,766 166,480 SH   SOLE   0 63,900 102,580
CUBESMART COM 229663109   6,463,405 139,840 SH   SOLE   0 41,940 97,900
NATIONAL STORAGE AFFILIATES COM SH BEN IN 637870106   13,179,459 315,449 SH   SOLE   0 96,850 218,599
GAMING & LEISURE PPTYS INC COM 36467J108   1,881,188 36,135 SH   SOLE   0 36,135 0
GLADSTONE LD CORP COM 376549101   3,275,671 196,737 SH   SOLE   0 60,062 136,675
SAFEHOLD INC COM 78646V107   13,047,211 444,236 SH   SOLE   0 130,200 314,036