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   39,101,659 47,377 SH   SOLE   0 14,901 32,476
OMEGA HEALTHCARE INVS INC COM 681936100   6,777,063 213,990 SH   SOLE   0 69,640 144,350
WELLTOWER INC COM 95040Q104   26,560,320 284,250 SH   SOLE   0 80,310 203,940
INNOVATIVE INDL PPTYS INC COM 45781V101   1,480,622 14,300 SH   SOLE   0 4,077 10,223
PROLOGIS INC. COM 74340W103   38,197,563 293,331 SH   SOLE   0 87,979 205,352
REXFORD INDL RLTY INC COM 76169C100   11,281,586 224,286 SH   SOLE   0 62,420 161,866
CROWN CASTLE INC COM 22822V101   22,881,504 216,210 SH   SOLE   0 23,710 192,500
SBA COMMUNICATIONS CORP NEW CL A 78410G104   12,217,329 56,379 SH   SOLE   0 0 56,379
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   13,466,841 104,467 SH   SOLE   0 29,081 75,386
HUDSON PAC PPTYS INC COM 444097109   8,883,263 1,377,250 SH   SOLE   0 403,450 973,800
APARTMENT INCOME REIT CORP COM 03750L109   8,274,850 254,846 SH   SOLE   0 54,333 200,513
AMERICAN HOMES 4 RENT CL A 02665T306   11,510,595 312,958 SH   SOLE   0 106,305 206,653
SUN CMNTYS INC COM 866674104   11,443,363 88,998 SH   SOLE   0 24,788 64,210
UDR INC COM 902653104   8,165,481 218,270 SH   SOLE   0 43,970 174,300
VERIS RESIDENTIAL INC COM 554489104   6,270,931 412,290 SH   SOLE   0 133,050 279,240
ESSENTIAL PPTYS RLTY TR INC COM 29670E107   4,242,779 159,144 SH   SOLE   0 0 159,144
FOUR CORNERS PPTY TR INC COM 35086T109   4,404,600 180,000 SH   SOLE   0 0 180,000
GETTY RLTY CORP NEW COM 374297109   4,259,216 155,730 SH   SOLE   0 0 155,730
KIMCO RLTY CORP COM 49446R109   9,148,653 466,530 SH   SOLE   0 130,715 335,815
PHILLIPS EDISON & CO INC COMMON STOCK 71844V201   7,991,657 222,795 SH   SOLE   0 68,728 154,067
SIMON PPTY GROUP INC NEW COM 828806109   16,936,913 108,230 SH   SOLE   0 32,450 75,780
CUBESMART COM 229663109   9,289,997 205,440 SH   SOLE   0 59,490 145,950
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   20,737,922 529,569 SH   SOLE   0 160,220 369,349
SAFEHOLD INC COM 78646V107   8,147,012 395,486 SH   SOLE   0 77,900 317,586
VICI PPTYS INC COM 925652109   3,923,343 131,700 SH   SOLE   0 131,700 0