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
AGREE RLTY CORP COM 008492100   2,908,130 41,000 SH   SOLE   41,000 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   874,020 6,000 SH   SOLE   6,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100   16,325,932 77,060 SH   SOLE   77,060 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103   803,253 5,270 SH   SOLE   5,270 0 0
APARTMENT INCOME REIT CORP COM 03750L109   694,091 20,230 SH   SOLE   20,230 0 0
AVALONBAY CMNTYS INC COM 053484101   22,822,776 141,300 SH   SOLE   141,300 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203   1,539,960 250,400 SH   SOLE   250,400 0 0
BRIXMOR PPTY GROUP INC COM 11120U105   16,433,483 724,900 SH   SOLE   724,900 0 0
CAMDEN PPTY TR SH BEN INT 133131102   23,069,656 206,200 SH   SOLE   206,200 0 0
CHENIERE ENERGY INC COM NEW 16411R208   599,840 4,000 SH   SOLE   4,000 0 0
CONSOLIDATED EDISON INC COM 209115104   895,914 9,400 SH   SOLE   9,400 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108   1,603,092 61,800 SH   SOLE   61,800 0 0
CROWN CASTLE INC COM 22822V101   3,095,305 22,820 SH   SOLE   22,820 0 0
CUBESMART COM 229663109   1,348,375 33,500 SH   SOLE   33,500 0 0
DIGITAL RLTY TR INC COM 253868103   22,928,741 228,670 SH   SOLE   228,670 0 0
EASTERLY GOVT PPTYS INC COM 27616P103   1,699,557 119,100 SH   SOLE   119,100 0 0
EDISON INTL COM 281020107   531,227 8,350 SH   SOLE   8,350 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   2,513,400 42,600 SH   SOLE   42,600 0 0
EVERSOURCE ENERGY COM 30040W108   907,987 10,830 SH   SOLE   10,830 0 0
EXTRA SPACE STORAGE INC COM 30225T102   1,015,542 6,900 SH   SOLE   6,900 0 0
GAMING & LEISURE PPTYS INC COM 36467J108   2,696,908 51,774 SH   SOLE   51,774 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   1,215,937 63,100 SH   SOLE   63,100 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   624,243 24,900 SH   SOLE   24,900 0 0
HIGHWOODS PPTYS INC COM 431284108   1,516,516 54,200 SH   SOLE   54,200 0 0
HUDSON PAC PPTYS INC COM 444097109   12,366,830 1,271,000 SH   SOLE   1,271,000 0 0
KINDER MORGAN INC DEL COM 49456B101   1,019,712 56,400 SH   SOLE   56,400 0 0
KITE RLTY GROUP TR COM NEW 49803T300   803,542 38,173 SH   SOLE   38,173 0 0
LIFE STORAGE INC COM 53223X107   26,454,638 268,575 SH   SOLE   268,575 0 0
MEDICAL PPTYS TRUST INC COM 58463J304   13,681,034 1,228,100 SH   SOLE   1,228,100 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   957,180 26,500 SH   SOLE   26,500 0 0
ONEOK INC NEW COM 682680103   581,445 8,850 SH   SOLE   8,850 0 0
PARAMOUNT GROUP INC COM 69924R108   7,080,124 1,191,940 SH   SOLE   1,191,940 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206   465,836 50,800 SH   SOLE   50,800 0 0
PROLOGIS INC. COM 74340W103   43,488,979 385,780 SH   SOLE   385,780 0 0
REALTY INCOME CORP COM 756109104   2,467,427 38,900 SH   SOLE   38,900 0 0
REGENCY CTRS CORP COM 758849103   2,925,000 46,800 SH   SOLE   46,800 0 0
REXFORD INDL RLTY INC COM 76169C100   7,048,560 129,000 SH   SOLE   129,000 0 0
SABRA HEALTH CARE REIT INC COM 78573L106   11,936,529 960,300 SH   SOLE   960,300 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   1,622,995 5,790 SH   SOLE   5,790 0 0
SEMPRA COM 816851109   618,160 4,000 SH   SOLE   4,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109   23,037,828 196,100 SH   SOLE   196,100 0 0
SUN CMNTYS INC COM 866674104   19,033,300 133,100 SH   SOLE   133,100 0 0
VENTAS INC COM 92276F100   1,360,510 30,200 SH   SOLE   30,200 0 0
VICI PPTYS INC COM 925652109   19,025,280 587,200 SH   SOLE   587,200 0 0
WELLTOWER INC COM 95040Q104   18,344,168 279,850 SH   SOLE   279,850 0 0
WILLIAMS COS INC COM 969457100   608,650 18,500 SH   SOLE   18,500 0 0
WP CAREY INC COM 92936U109   3,219,780 41,200 SH   SOLE   41,200 0 0