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
Estimated average burden
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 24,422 125,866 SH   SOLE   125,866 0 0
AMERICAN TOWER CORP NEW COM 03027X100 38,307 143,680 SH   SOLE   143,680 0 0
DIGITAL RLTY TR INC COM 253868103 27,979 192,880 SH   SOLE   192,880 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 46,153 565,944 SH   SOLE   565,944 0 0
ESSEX PPTY TR INC COM 297178105 19,565 59,992 SH   SOLE   59,992 0 0
EXTRA SPACE STORAGE INC COM 30225T102 13,075 77,397 SH   SOLE   77,397 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 28,463 515,731 SH   SOLE   515,731 0 0
INVITATION HOMES INC COM 46187W107 31,134 802,214 SH   SOLE   802,214 0 0
KILROY RLTY CORP COM 49427F108 29,473 436,579 SH   SOLE   436,579 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 39,158 1,934,663 SH   SOLE   1,934,663 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 21,398 547,683 SH   SOLE   547,683 0 0
PARK HOTELS & RESORTS INC COM 700517105 34,716 1,742,780 SH   SOLE   1,742,780 0 0
PROLOGIS INC. COM 74340W103 82,079 649,205 SH   SOLE   649,205 0 0
PUBLIC STORAGE COM 74460D109 43,421 146,099 SH   SOLE   146,099 0 0
RADIUS GLOBAL INFRASTRCTRE I COM CL A 750481103 27,515 1,661,559 SH   SOLE   1,661,559 0 0
REGENCY CTRS CORP COM 758849103 26,802 386,860 SH   SOLE   386,860 0 0
REXFORD INDL RLTY INC COM 76169C100 35,350 613,071 SH   SOLE   613,071 0 0
SIMON PPTY GROUP INC NEW COM 828806109 37,746 283,505 SH   SOLE   283,505 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 33,806 713,365 SH   SOLE   713,365 0 0
SUN CMNTYS INC COM 866674104 33,508 179,416 SH   SOLE   179,416 0 0
TPG RE FIN TR INC COM 87266M107 13,906 1,085,537 SH   SOLE   1,085,537 0 0
UDR INC COM 902653104 38,569 720,378 SH   SOLE   720,378 0 0
VICI PPTYS INC COM 925652109 13,689 469,940 SH   SOLE   469,940 0 0
VORNADO RLTY TR SH BEN INT 929042109 11,796 271,236 SH   SOLE   271,236 0 0
WELLTOWER INC COM 95040Q104 30,188 360,018 SH   SOLE   360,018 0 0