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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
EQUINIX INC COM 29444U700   35,040,103 43,507 SH   SOLE   0 12,531 30,976
OMEGA HEALTHCARE INVS INC COM 681936100   6,291,125 205,190 SH   SOLE   0 60,840 144,350
WELLTOWER INC COM 95040Q104   24,783,225 274,850 SH   SOLE   0 70,910 203,940
INNOVATIVE INDL PPTYS INC COM 45781V101   1,629,755 16,165 SH   SOLE   0 5,032 11,133
PROLOGIS INC. COM 74340W103   37,890,658 284,251 SH   SOLE   0 78,899 205,352
REXFORD INDL RLTY INC COM 76169C100   12,262,675 218,586 SH   SOLE   0 56,720 161,866
CROWN CASTLE INC COM 22822V101   25,222,002 218,960 SH   SOLE   0 26,460 192,500
SBA COMMUNICATIONS CORP NEW CL A 78410G104   13,617,826 53,679 SH   SOLE   0 0 53,679
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   14,986,369 118,217 SH   SOLE   0 35,181 83,036
BOSTON PROPERTIES INC COM 101121101   6,481,603 92,370 SH   SOLE   0 27,830 64,540
HUDSON PAC PPTYS INC COM 444097109   3,544,783 380,750 SH   SOLE   0 114,650 266,100
APARTMENT INCOME REIT CORP COM 03750L109   8,908,106 256,496 SH   SOLE   0 59,883 196,613
AMERICAN HOMES 4 RENT CL A 02665T306   9,821,863 273,133 SH   SOLE   0 74,280 198,853
SUN CMNTYS INC COM 866674104   11,493,633 85,998 SH   SOLE   0 21,788 64,210
UDR INC COM 902653104   8,700,254 227,220 SH   SOLE   0 52,920 174,300
VERIS RESIDENTIAL INC COM 554489104   6,485,322 412,290 SH   SOLE   0 133,050 279,240
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   6,167,730 241,304 SH   SOLE   0 74,460 166,844
FOUR CORNERS PPTY TR INC COM 35086T109   4,554,000 180,000 SH   SOLE   0 0 180,000
GETTY RLTY CORP NEW COM 374297109   4,411,636 150,980 SH   SOLE   0 0 150,980
KIMCO RLTY CORP COM 49446R109   9,651,938 452,930 SH   SOLE   0 117,115 335,815
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201   8,127,562 222,795 SH   SOLE   0 68,728 154,067
SIMON PPTY GROUP INC NEW COM 828806109   16,971,307 118,980 SH   SOLE   0 35,650 83,330
CUBESMART COM 229663109   6,861,654 148,040 SH   SOLE   0 45,690 102,350
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   17,575,774 423,819 SH   SOLE   0 107,270 316,549
GLADSTONE LD CORP COM 376549101   3,739,472 258,787 SH   SOLE   0 105,162 153,625
SAFEHOLD INC COM 78646V107   9,399,452 401,686 SH   SOLE   0 84,100 317,586
VICI PPTYS INC COM 925652109   2,948,900 92,500 SH   SOLE   0 92,500 0