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
AGREE RLTY CORP COM 008492100   2,840,454 41,400 SH   SOLE   41,400 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   753,540 6,000 SH   SOLE   6,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100   15,909,912 77,860 SH   SOLE   77,860 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103   772,002 5,270 SH   SOLE   5,270 0 0
APARTMENT INCOME REIT CORP COM 03750L109   739,727 20,657 SH   SOLE   20,657 0 0
AVALONBAY CMNTYS INC COM 053484101   25,504,786 151,760 SH   SOLE   151,760 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203   1,196,690 253,000 SH   SOLE   253,000 0 0
BRIXMOR PPTY GROUP INC COM 11120U105   18,597,584 864,200 SH   SOLE   864,200 0 0
CAMDEN PPTY TR SH BEN INT 133131102   23,289,158 222,140 SH   SOLE   222,140 0 0
CHENIERE ENERGY INC COM NEW 16411R208   630,400 4,000 SH   SOLE   4,000 0 0
CONSOLIDATED EDISON INC COM 209115104   899,298 9,400 SH   SOLE   9,400 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108   1,479,504 62,400 SH   SOLE   62,400 0 0
CROWN CASTLE INC COM 22822V101   3,085,012 23,050 SH   SOLE   23,050 0 0
CUBESMART COM 229663109   1,571,480 34,000 SH   SOLE   34,000 0 0
DIGITAL RLTY TR INC COM 253868103   24,995,318 254,250 SH   SOLE   254,250 0 0
EASTERLY GOVT PPTYS INC COM 27616P103   1,603,733 116,720 SH   SOLE   116,720 0 0
EDISON INTL COM 281020107   589,427 8,350 SH   SOLE   8,350 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   2,578,500 42,975 SH   SOLE   42,975 0 0
EVERSOURCE ENERGY COM 30040W108   847,556 10,830 SH   SOLE   10,830 0 0
EXTRA SPACE STORAGE INC COM 30225T102   1,148,657 7,050 SH   SOLE   7,050 0 0
GAMING & LEISURE PPTYS INC COM 36467J108   2,726,278 52,368 SH   SOLE   52,368 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   1,229,388 63,600 SH   SOLE   63,600 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   547,053 24,900 SH   SOLE   24,900 0 0
HIGHWOODS PPTYS INC COM 431284108   1,270,812 54,800 SH   SOLE   54,800 0 0
HUDSON PAC PPTYS INC COM 444097109   9,446,990 1,420,600 SH   SOLE   1,420,600 0 0
KINDER MORGAN INC DEL COM 49456B101   987,564 56,400 SH   SOLE   56,400 0 0
KITE RLTY GROUP TR COM NEW 49803T300   798,579 38,173 SH   SOLE   38,173 0 0
LIFE STORAGE INC COM 53223X107   25,539,609 194,825 SH   SOLE   194,825 0 0
MEDICAL PPTYS TRUST INC COM 58463J304   9,417,243 1,145,650 SH   SOLE   1,145,650 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   1,107,170 26,500 SH   SOLE   26,500 0 0
ONEOK INC NEW COM 682680103   562,329 8,850 SH   SOLE   8,850 0 0
PARAMOUNT GROUP INC COM 69924R108   5,516,414 1,209,740 SH   SOLE   1,209,740 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206   370,840 50,800 SH   SOLE   50,800 0 0
PROLOGIS INC. COM 74340W103   50,167,522 402,080 SH   SOLE   402,080 0 0
REALTY INCOME CORP COM 756109104   2,501,140 39,500 SH   SOLE   39,500 0 0
REGENCY CTRS CORP COM 758849103   2,896,873 47,350 SH   SOLE   47,350 0 0
REXFORD INDL RLTY INC COM 76169C100   8,768,550 147,000 SH   SOLE   147,000 0 0
SABRA HEALTH CARE REIT INC COM 78573L106   11,197,550 973,700 SH   SOLE   973,700 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   1,511,595 5,790 SH   SOLE   5,790 0 0
SEMPRA COM 816851109   604,640 4,000 SH   SOLE   4,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109   22,247,319 198,690 SH   SOLE   198,690 0 0
SUN CMNTYS INC COM 866674104   19,004,712 134,900 SH   SOLE   134,900 0 0
VENTAS INC COM 92276F100   1,326,510 30,600 SH   SOLE   30,600 0 0
VICI PPTYS INC COM 925652109   19,407,269 594,950 SH   SOLE   594,950 0 0
WELLTOWER INC COM 95040Q104   20,567,646 286,897 SH   SOLE   286,897 0 0
WILLIAMS COS INC COM 969457100   552,410 18,500 SH   SOLE   18,500 0 0
WP CAREY INC COM 92936U109   3,218,048 41,550 SH   SOLE   41,550 0 0