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
ESSEX PPTY TR INC COM 297178105 BBG000CGJMB9 56,318,474 269,286 SH   DFND 1,2,3,4 157,851 0 111,435
VENTAS INC COM 92276F100 BBG000FRVHB9 33,378,373 769,974 SH   DFND 1,2 411,437 0 358,537
PHYSICIANS RLTY TR COM 71943U104 BBG004MF59H0 20,256,487 1,356,764 SH   DFND 1,2,3,4 784,710 0 572,054
URBAN EDGE PPTYS COM 91704F104 BBG006BFYQN0 30,698,786 2,038,432 SH   DFND 1,2,3,4 1,200,901 0 837,531
REALTY INCOME CORP COM 756109104 BBG000DHPN63 61,037,504 963,953 SH   DFND 1,2,3 529,475 0 434,478
HOST HOTELS & RESORTS INC COM 44107P104 BBG000BL8804 48,045,033 2,913,586 SH   DFND 1,2,3,4 1,661,107 0 1,252,479
INVITATION HOMES INC COM 46187W107 BBG00FQH6BS9 87,269,830 2,794,423 SH   DFND 1,2,3,4 1,612,363 0 1,182,060
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 BBG000BC33T9 49,019,661 390,315 SH   DFND 1,2,3,4 231,126 0 159,189
SIMON PPTY GROUP INC NEW COM 828806109 BBG000BJ2D31 19,614,905 175,180 SH   DFND 1,2 97,814 0 77,366
BOSTON PROPERTIES INC COM 101121101 BBG000BS5CM9 50,906,733 940,627 SH   DFND 1,2,3,4 552,419 0 388,208
DIGITAL RLTY TR INC COM 253868103 BBG000Q5ZRM7 16,328,799 166,095 SH   DFND 1,2 88,985 0 77,110
WELLTOWER INC COM 95040Q104 BBG000BKY1G5 115,975,924 1,617,742 SH   DFND 1,2,3,4 935,022 0 682,720
REXFORD INDL RLTY INC COM 76169C100 BBG004MB82R0 40,602,801 680,684 SH   DFND 1,2,3,4 379,136 0 301,548
PUBLIC STORAGE COM 74460D109 BBG000BPPN67 62,243,861 206,010 SH   DFND 1,2,3,4 119,728 0 86,282
MEDICAL PPTYS TRUST INC COM 58463J304 BBG000BGRB25 31,610,347 3,845,541 SH   DFND 1,2,3,4 2,257,748 0 1,587,793
EQUINIX INC COM 29444U700 BBG000MBDGM6 175,504,741 243,405 SH   DFND 1,2,3,4 142,052 0 101,353
CENTERSPACE COM 15202L107 BBG000BVJ702 25,761,159 471,557 SH   DFND 1,2,3,4 272,899 0 198,658
AGREE RLTY CORP COM 008492100 BBG000BC9DK0 53,004,930 772,554 SH   DFND 1,2,3,4 450,452 0 322,102
SUN CMNTYS INC COM 866674104 BBG000BLJWF3 86,200,386 611,871 SH   DFND 1,2,3,4 354,265 0 257,606
LIFE STORAGE INC COM 53223X107 BBG000C42VL3 21,412,896 163,345 SH   DFND 1,2,3,4 93,897 0 69,448
BRIXMOR PPTY GROUP INC COM 11120U105 BBG001LFLZZ1 14,891,926 692,004 SH   DFND 1,2 365,677 0 326,327
KITE RLTY GROUP TR COM NEW 49803T300 BBG000BC2KW8 31,880,846 1,523,941 SH   DFND 1,2,3,4 885,980 0 637,961
EXTRA SPACE STORAGE INC COM 30225T102 BBG000PV27K3 101,083,890 620,413 SH   DFND 1,2,3,4 357,752 0 262,661
GAMING & LEISURE PPTYS INC COM 36467J108 BBG003MSMCS6 81,858,363 1,572,385 SH   DFND 1,2,4 886,532 0 685,853
PROLOGIS INC. COM 74340W103 BBG000B9Z0J8 277,808,765 2,226,567 SH   DFND 1,2,3,4 1,348,130 0 878,437
HIGHWOODS PPTYS INC COM 431284108 BBG000C43744 15,266,835 658,337 SH   DFND 1,2,3,4 386,088 0 272,249
KIMCO RLTY CORP COM 49446R109 BBG000CN3S73 87,450,516 4,477,753 SH   DFND 1,2,3,4 2,626,935 0 1,850,818
AVALONBAY CMNTYS INC COM 053484101 BBG000BLPBL5 98,220,818 584,439 SH   DFND 1,2,3,4 338,098 0 246,341
DIAMONDROCK HOSPITALITY CO COM 252784301 BBG000JKHFP5 18,643,326 2,293,152 SH   DFND 1,2,3,4 1,325,430 0 967,722
EPR PPTYS COM SH BEN INT 26884U109 BBG000BSZYR3 26,740,409 701,848 SH   DFND 1,2,3,4 402,712 0 299,136
VICI PPTYS INC COM 925652109 BBG00HVVB499 5,921,150 181,519 SH   DFND 1,2 95,563 0 85,956
POSTAL REALTY TRUST INC CL A 73757R102 BBG00NSBGFJ3 5,428,350 356,659 SH   DFND 1,2,3,4 241,573 0 115,086
NETSTREIT CORP COM 64119V303 BBG00W5FQPV2 45,977,381 2,515,174 SH   DFND 1,2,3,4 1,494,742 0 1,020,432
CTO RLTY GROWTH INC NEW COM 22948Q101 BBG00Y3M1H59 16,283,326 943,414 SH   DFND 1,2,3,4 559,424 0 383,990
EMPIRE ST RLTY TR INC CL A 292104106 BBG002N8HMW0 1,000,421 154,148 SH   DFND 1,2 154,148 0 0
SL GREEN RLTY CORP COM 78440X887 BBG000BVP5P2 670,696 28,516 SH   DFND 1,2 28,516 0 0
HEALTHCARE RLTY TR CL A COM 42226K105 BBG000PRJCX9 1,061,700 54,925 SH   DFND 1,2 54,925 0 0
TERRENO RLTY CORP COM 88146M101 BBG000PV3J62 1,224,687 18,958 SH   DFND 1,2 18,958 0 0
PARAMOUNT GROUP INC COM 69924R108 BBG000FBRL11 998,613 218,994 SH   DFND 1,2 218,994 0 0
DOUGLAS EMMETT INC COM 25960P109 BBG000PN1SJ8 983,613 79,774 SH   DFND 1,2 79,774 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 BBG000BG8M31 1,040,040 17,334 SH   DFND 1,2 17,334 0 0
VORNADO RLTY TR SH BEN INT 929042109 BBG000BWHD54 871,341 56,691 SH   DFND 1,2 56,691 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 BBG000Q3TSJ1 1,045,324 105,802 SH   DFND 1,2 105,802 0 0
FEDERAL RLTY INVT TR NEW SH BEN INT NEW 313745101 BBG000BJVN28 988,992 10,007 SH   DFND 1,2 10,007 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 BBG000BKYDP9 1,024,351 46,625 SH   DFND 1,2 46,625 0 0
HUDSON PAC PPTYS INC COM 444097109 BBG000QC4T33 807,676 121,455 SH   DFND 1,2 121,455 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 BBG000PNBZF5 1,084,927 77,274 SH   DFND 1,2 77,274 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 BBG000BJGD54 1,083,287 77,655 SH   DFND 1,2 77,655 0 0
AMERICAN TOWER CORP NEW COM 03027X100 BBG000B9XYV2 17,814,361 87,180 SH   DFND 1,2,4 58,625 0 28,555
CROWN CASTLE INC COM 22822V101 BBG000FV1Z23 24,219,686 180,960 SH   DFND 1,2,4 128,720 0 52,240
SBA COMMUNICATIONS CORP NEW CL A 78410G104 BBG000D2M0Z7 5,646,944 21,630 SH   DFND 1,2,4 16,310 0 5,320
WEYERHAEUSER CO MTN BE COM NEW 962166104 BBG000BX3BL3 3,219,210 106,844 SH   DFND 1,2,4 71,848 0 34,996
EASTGROUP PPTYS INC COM 277276101 BBG000BHRBT4 12,368,581 74,816 SH   DFND 1,2 11,269 0 63,547