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
AMERICAN HOMES 4 RENT CL A 02665T306   54,945,082 1,527,950 SH   SOLE   1,527,950 0 0
AMERICAN TOWER CORP NEW COM 03027X100   33,102,823 153,339 SH   SOLE   153,339 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   55,350,420 1,828,557 SH   SOLE   1,828,557 0 0
APARTMENT INVT & MGMT CO CL A 03748R747   17,543,882 2,240,598 SH   SOLE   2,240,598 0 0
BOSTON PROPERTIES INC COM 101121101   24,392,706 347,623 SH   SOLE   347,623 0 0
BROOKDALE SR LIVING INC COM 112463104   16,092,323 2,765,004 SH   SOLE   2,765,004 0 0
CBRE GROUP INC CL A 12504L109   11,013,012 118,305 SH   SOLE   118,305 0 0
EQUINIX INC COM 29444U700   21,864,728 27,148 SH   SOLE   27,148 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   20,305,059 331,999 SH   SOLE   331,999 0 0
EXTRA SPACE STORAGE INC COM 30225T102   29,295,979 182,723 SH   SOLE   182,723 0 0
FIRST INDL RLTY TR INC COM 32054K103   15,087,005 286,444 SH   SOLE   286,444 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   51,774,875 3,004,926 SH   SOLE   3,004,926 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   30,917,957 1,561,513 SH   SOLE   1,561,513 0 0
HUDSON PAC PPTYS INC COM 444097109   22,847,662 2,454,099 SH   SOLE   2,454,099 0 0
INDEPENDENCE RLTY TR INC COM 45378A106   30,418,756 1,988,154 SH   SOLE   1,988,154 0 0
INSPIRED ENTMT INC COM 45782N108   3,822,068 386,849 SH   SOLE   386,849 0 0
ISHARES TR U.S. REAL ES ETF 464287739   73,128,000 800,000 SH Call SOLE   800,000 0 0
KILROY RLTY CORP COM 49427F108   35,441,505 889,596 SH   SOLE   889,596 0 0
LXP INDUSTRIAL TRUST COM 529043101   34,579,166 3,485,803 SH   SOLE   3,485,803 0 0
MACERICH CO COM 554382101   14,609,201 946,805 SH   SOLE   946,805 0 0
NATIONAL HEALTH INVS INC COM 63633D104   21,862,650 391,453 SH   SOLE   391,453 0 0
NET LEASE OFFICE PROPERTIES COM 64110Y108   2,671,229 144,547 SH   SOLE   144,547 0 0
PARK HOTELS & RESORTS INC COM 700517105   25,329,578 1,655,528 SH   SOLE   1,655,528 0 0
REGENCY CTRS CORP COM 758849103   56,199,064 838,792 SH   SOLE   838,792 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101   17,460,068 1,244,481 SH   SOLE   1,244,481 0 0
REXFORD INDL RLTY INC COM 76169C100   57,313,219 1,021,626 SH   SOLE   1,021,626 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107   17,695,337 160,779 SH   SOLE   160,779 0 0
SAFEHOLD INC COM 78646V107   4,946,690 211,397 SH   SOLE   211,397 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   55,408,179 218,409 SH   SOLE   218,409 0 0
STAG INDL INC COM 85254J102   55,951,468 1,425,152 SH   SOLE   1,425,152 0 0
STARWOOD PPTY TR INC COM 85571B105   15,997,292 761,051 SH   SOLE   761,051 0 0
SUN CMNTYS INC COM 866674104   42,762,253 319,957 SH   SOLE   319,957 0 0
TANGER INC COM 875465106   42,558,793 1,535,310 SH   SOLE   1,535,310 0 0
TRICON RESIDENTIAL INC COM NPV 89612W102   7,264,093 798,252 SH   SOLE   798,252 0 0
UDR INC COM 902653104   35,006,556 914,248 SH   SOLE   914,248 0 0
VENTAS INC COM 92276F100   50,966,982 1,022,612 SH   SOLE   1,022,612 0 0
VESTA REAL ESTATE CORP ADS 92540K109   28,185,311 711,391 SH   SOLE   711,391 0 0
VICI PPTYS INC COM 925652109   33,396,914 1,047,582 SH   SOLE   1,047,582 0 0
WP CAREY INC COM 92936U109   49,128,702 758,042 SH   SOLE   758,042 0 0