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 34,563 237,462 SH   SOLE   237,462 0 0
AMERICAN TOWER CORP NEW COM 03027X100 22,552 102,470 SH   SOLE   102,470 0 0
AVALONBAY CMNTYS INC COM 053484101 3,801 20,200 SH   SOLE   20,200 0 0
CAMDEN PPTY TR SH BEN INT 133131102 3,731 30,300 SH   SOLE   30,300 0 0
CUBESMART COM 229663109 3,786 92,100 SH   SOLE   92,100 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603 13,938 1,013,667 SH   SOLE   1,013,667 0 0
DOUGLAS EMMETT INC COM 25960P109 9,151 493,300 SH   SOLE   493,300 0 0
EQUINIX INC COM 29444U700 37,336 63,515 SH   SOLE   63,515 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 43,651 637,426 SH   SOLE   637,426 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 21,383 1,065,397 SH   SOLE   1,065,397 0 0
ESSEX PPTY TR INC COM 297178105 31,448 128,087 SH   SOLE   128,087 0 0
EXTRA SPACE STORAGE INC COM 30225T102 15,888 88,528 SH   SOLE   88,528 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 23,783 995,930 SH   SOLE   995,930 0 0
HOST HOTELS & RESORTS INC COM 44107P104 15,058 893,669 SH   SOLE   893,669 0 0
INDUS REALTY TRUST INC COM 45580R103 22,751 422,104 SH   SOLE   422,104 0 0
INVITATION HOMES INC COM 46187W107 31,284 892,814 SH   SOLE   892,814 0 0
KIMCO RLTY CORP COM 49446R109 19,989 1,033,580 SH   SOLE   1,033,580 0 0
KITE RLTY GROUP TR COM NEW 49803T300 13,862 760,835 SH   SOLE   760,835 0 0
PARK HOTELS & RESORTS INC COM 700517105 10,718 879,988 SH   SOLE   879,988 0 0
PROLOGIS INC. COM 74340W103 55,615 524,715 SH   SOLE   524,715 0 0
PUBLIC STORAGE COM 74460D109 46,536 156,687 SH   SOLE   156,687 0 0
RADIUS GLOBAL INFRASTRCTRE I COM CL A 750481103 34,357 3,316,343 SH   SOLE   3,316,343 0 0
REXFORD INDL RLTY INC COM 76169C100 40,489 738,444 SH   SOLE   738,444 0 0
SUN CMNTYS INC COM 866674104 34,797 247,189 SH   SOLE   247,189 0 0
TPG RE FIN TR INC COM 87266M107 4,618 599,737 SH   SOLE   599,737 0 0
UDR INC COM 902653104 18,624 439,357 SH   SOLE   439,357 0 0
VICI PPTYS INC COM 925652109 13,148 419,268 SH   SOLE   419,268 0 0
WELLTOWER INC COM 95040Q104 27,113 421,136 SH   SOLE   421,136 0 0
WHITESTONE REIT COM 966084204 6,424 717,717 SH   SOLE   717,717 0 0