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
EQUINIX INC COM 29444U700   27,297,935 37,587 SH   SOLE   0 11,061 26,526
OMEGA HEALTHCARE INVS INC COM 681936100   6,419,444 193,590 SH   SOLE   0 66,140 127,450
WELLTOWER INC COM 95040Q104   23,949,312 292,350 SH   SOLE   0 87,610 204,740
INNOVATIVE INDL PPTYS INC COM 45781V101   1,425,813 18,845 SH   SOLE   0 6,582 12,263
PROLOGIS INC. COM 74340W103   32,569,065 290,251 SH   SOLE   0 84,899 205,352
REXFORD INDL RLTY INC COM 76169C100   11,067,527 224,266 SH   SOLE   0 62,400 161,866
CROWN CASTLE INTL CORP NEW COM 22822V101   22,051,308 239,610 SH   SOLE   0 27,610 212,000
SBA COMMUNICATIONS CORP NEW CL A 78410G104   11,725,758 58,579 SH   SOLE   0 0 58,579
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   12,608,296 125,957 SH   SOLE   0 42,921 83,036
BOSTON PROPERTIES INC COM 101121101   3,009,688 50,600 SH   SOLE   0 16,950 33,650
HUDSON PAC PPTYS INC COM 444097109   4,389,000 660,000 SH   SOLE   0 214,500 445,500
APARTMENT INCOME REIT CORP COM 03750L109   8,064,767 262,696 SH   SOLE   0 66,083 196,613
AMERICAN HOMES 4 RENT CL A 02665T306   10,187,283 302,383 SH   SOLE   0 93,230 209,153
SUN CMNTYS INC COM 866674104   9,184,131 77,608 SH   SOLE   0 16,938 60,670
UDR INC COM 902653104   7,700,083 215,870 SH   SOLE   0 57,670 158,200
VERIS RESIDENTIAL INC COM 554489104   6,046,260 366,440 SH   SOLE   0 120,050 246,390
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   6,013,227 278,004 SH   SOLE   0 93,160 184,844
FOUR CORNERS PPTY TR INC COM 35086T109   3,994,200 180,000 SH   SOLE   0 0 180,000
GETTY RLTY CORP NEW COM 374297109   3,770,725 135,980 SH   SOLE   0 0 135,980
KIMCO RLTY CORP COM 49446R109   8,489,462 482,630 SH   SOLE   0 146,815 335,815
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201   7,227,702 215,495 SH   SOLE   0 75,428 140,067
SIMON PPTY GROUP INC NEW COM 828806109   15,165,251 140,380 SH   SOLE   0 48,200 92,180
CUBESMART COM 229663109   5,913,582 155,090 SH   SOLE   0 52,740 102,350
NATIONAL STORAGE AFFILIATES COM SH BEN IN 637870106   14,007,465 441,319 SH   SOLE   0 124,770 316,549
GLADSTONE LD CORP COM 376549101   3,458,417 243,037 SH   SOLE   0 106,362 136,675
SAFEHOLD INC COM 78646V107   7,415,231 416,586 SH   SOLE   0 110,600 305,986
VICI PPTYS INC COM 925652109   3,260,655 112,050 SH   SOLE   0 112,050 0