0001752724-21-205813.txt : 20210924 0001752724-21-205813.hdr.sgml : 20210924 20210924101120 ACCESSION NUMBER: 0001752724-21-205813 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210731 FILED AS OF DATE: 20210924 PERIOD START: 20210731 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SECURITIES FUND CENTRAL INDEX KEY: 0000754510 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-04118 FILM NUMBER: 211275007 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 0000754510 S000007192 Fidelity Real Estate Income Fund C000019680 Fidelity Real Estate Income Fund FRIFX C000087887 Fidelity Advisor Real Estate Income Fund: Class A FRINX C000087889 Fidelity Advisor Real Estate Income Fund: Class C FRIOX C000087890 Fidelity Advisor Real Estate Income Fund: Class M FRIQX C000087891 Fidelity Advisor Real Estate Income Fund: Class I FRIRX C000205040 Fidelity Advisor Real Estate Income Fund: Class Z FIKMX NPORT-P 1 primary_doc.xml NPORT-P false 0000754510 XXXXXXXX S000007192 C000019680 C000205040 C000087890 C000087887 C000087889 C000087891 Fidelity Securities Fund 811-04118 0000754510 LIUMB3NDWOFJPXVROE85 245 Summer Street Boston 02210 1-800-FIDELITY Fidelity Real Estate Income Fund S000007192 KYIURORXMOJZHC2FKE02 2021-07-31 2021-07-31 N 7238206519.78 168514718.20 7069691801.58 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 4015000.00000000 0.00000000 0.00000000 0.00000000 USD N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 253868103 635700.00000000 NS USD 97999512.00000000 1.386192138928 Long EC CORP US N 1 N N N LIFE 2021-BMR MTG TR N/A 53218CAN0 14633000.00000000 PA USD 14688562.96000000 0.207768080593 Long ABS-MBS CORP US N 2 2038-03-15 Variable 0.03044000 N N N N N N CSAIL 2017-CX10 COML MTG TR N/A 12652DAJ6 7129000.00000000 PA USD 6965625.42000000 0.098527992669 Long ABS-MBS CORP US N 2 2032-10-15 Variable 0.04236600 N N N N N N BX 2020-BXLP N/A 05607QBA5 5698724.09000000 PA USD 5705865.73000000 0.080708832720 Long ABS-MBS CORP US N 2 2036-12-15 Variable 0.02593000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2011-C3 N/A 46635TBK7 4671000.00000000 PA USD 524271.17000000 0.007415757075 Long ABS-MBS CORP US N 3 2046-02-15 Variable 0.04409000 N N N N N N CAMB COML MTG TR 2019-LIFE N/A 12482HAS3 7428000.00000000 PA USD 7458143.57000000 0.105494606827 Long ABS-MBS CORP US N 2 2037-12-15 Variable 0.03343000 N N N N N N SERITAGE GROWTH PPTYS 5493003CJFC2MM82WB25 81752R308 91986.00000000 NS USD 2310458.36000000 0.032681175146 Long EP CORP US N 1 N N N WELLS FARGO COML MTG TR 2012-LC5 N/A 94988HAT8 2000000.00000000 PA USD 1665042.80000000 0.023551844220 Long ABS-MBS CORP US N 2 2045-10-15 Variable 0.04757385 N N N N N N EQUINIX INC 549300EVUN2BTLJ3GT74 29444U700 110700.00000000 NS USD 90819387.00000000 1.284630073685 Long EC CORP US N 1 N N N UBS COML MTG TR 2012-C1 N/A 90269GAS0 2221350.00000000 PA USD 325085.91000000 0.004598303845 Long ABS-MBS CORP US N 3 2045-05-10 Variable 0.05000000 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031U101 4086313.00000000 NS USD 99011363.99000000 1.400504672182 Long EC CORP US N 1 N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 709102602 50325.00000000 NS USD 538477.50000000 0.007616704024 Long EP CORP US N 1 N N N SUMMIT HOTEL PROPERTIES INC 254900OBQWJK6X20LS71 866082506 216857.00000000 NS USD 5523347.79000000 0.078127136868 Long EP CORP US N 1 N N N SERVICE PROPERTIES TRUST 529900IS770AG1K9QG27 44106MAS1 3500000.00000000 PA USD 3561250.00000000 0.050373483030 Long DBT CORP US N 2 2024-03-15 Fixed 0.04650000 N N N N N N WFRBS COML MTG TR 2013-C11 N/A 92937EAJ3 5765000.00000000 PA USD 5673005.01000000 0.080244021510 Long ABS-MBS CORP US N 2 2045-03-15 Variable 0.04240027 N N N N N N OFFICE PROPERTIES INCOME TRUST N/A 81618TAC4 21056000.00000000 PA USD 22833165.99000000 0.322972579722 Long DBT CORP US N 2 2025-02-01 Fixed 0.04500000 N N N N N N HOWARD HUGHES CORP 549300BVHY25JZC1KI49 44267DAD9 7655000.00000000 PA USD 8104731.25000000 0.114640517259 Long DBT CORP US N 2 2028-08-01 Fixed 0.05375000 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6 N/A 61761DAU6 2500000.00000000 PA USD 1919885.50000000 0.027156565715 Long ABS-MBS CORP US N 3 2045-11-15 Variable 0.04603493 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187B507 1697415.00000000 NS USD 42435375.00000000 0.600243634248 Long EP CORP US N 1 N N N BROOKFIELD RESIDENTIAL PPTYS INC / BROOKFIELD RESIDENTIAL US CORP N/A 11283YAD2 1590000.00000000 PA USD 1586366.85000000 0.022438981705 Long DBT CORP CA N 2 2030-02-15 Fixed 0.04875000 N N N N N N CENTURY CMNTYS INC 5299002QMB2O7ZL1CA26 156504AL6 6230000.00000000 PA USD 6616197.70000000 0.093585376642 Long DBT CORP US N 2 2027-06-01 Fixed 0.06750000 N N N N N N CREDIT SUISSE MORTGAGE TRUST 2021 N/A 12658RAA8 8000000.00000000 PA USD 8001320.00000000 0.113177776691 Long ABS-MBS CORP US N 2 2023-05-15 Variable 0.03709200 N N N N N N DBCCRE 2014-ARCP MORTGAGE TRUST N/A 23305MAL9 10732000.00000000 PA USD 10880315.17000000 0.153900841442 Long ABS-MBS CORP US N 2 2034-01-10 Variable 0.04934500 N N N N N N TAYLOR MORRISON COMMUNITIES INC 549300O1Z08HI2MRK572 87724RAG7 4573000.00000000 PA USD 4881677.50000000 0.069050782368 Long DBT CORP US N 2 2027-07-15 Fixed 0.06625000 N N N N N N WESTERN ASSET MORTGAGE CAPITAL CORP 549300JOQRROR5SZYY83 95790DAA3 52236000.00000000 PA USD 50377038.81000000 0.712577580804 Long DBT CORP US N 2 2022-10-01 Fixed 0.06750000 N N N N Y WESTERN ASSET MORTGAGE CAPITAL CORP USD XXXX N N N EXTRA SPACE STORAGE INC N/A 30225T102 133900.00000000 NS USD 23317346.00000000 0.329821251823 Long EC CORP US N 1 N N N WILLIAMS SCOTSMAN INTL INC 549300V3TCHCBOBTGH07 96950GAE2 4250000.00000000 PA USD 4377500.00000000 0.061919248007 Long DBT CORP US N 2 2028-08-15 Fixed 0.04625000 N N N N N N CGMS COML MTG TR 2017-MDDR N/A 125333BC7 6131000.00000000 PA USD 5866259.74000000 0.082977588056 Long ABS-MBS CORP US N 2 2030-07-15 Variable 0.03343000 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C9 549300PFVBG5704L7K74 61762DAG6 5137000.00000000 PA USD 4703141.31000000 0.066525407924 Long ABS-MBS CORP US N 2 2046-05-15 Variable 0.04110346 N N N N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 64828T508 1257554.00000000 NS USD 29602821.16000000 0.418728595119 Long EP CORP US N 1 N N N EXTENDED STAY AMER TR 2021-ESH N/A 30227FAN0 20943000.00000000 PA USD 21159487.79000000 0.299298588734 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.03794000 N N N N N N ARMADA HOFFLER PROPERTIES INC 549300WQRSIV6XZT9313 04208T207 196750.00000000 NS USD 5375210.00000000 0.076031744393 Long EP CORP US N 1 N N N HEALTHCARE TR AMER INC 549300L0I14L7I0VLX84 42225P501 1143060.00000000 NS USD 32680085.40000000 0.462256153693 Long EC CORP US N 1 N N N VB-S1 ISSUER LLC N/A 91823AAJ0 1354000.00000000 PA USD 1381329.81000000 0.019538755702 Long ABS-CBDO CORP US N 2 2048-02-15 Fixed 0.05250000 N N N N N N CITIGROUP COML MTG TR 2013-GC15 N/A 17321JAP9 5254000.00000000 PA USD 5322414.44000000 0.075284957101 Long ABS-MBS CORP US N 2 2046-09-10 Variable 0.05179531 N N N N N N COMM 2017-COR2 N/A 12595EAN5 2769000.00000000 PA USD 2648737.07000000 0.037466089673 Long ABS-MBS CORP US N 2 2050-09-10 Fixed 0.03000000 N N N N N N SPIRIT REALTY CAPITAL INC 549300LTU6LVPZSHMJ25 84860W201 94125.00000000 NS USD 2467957.50000000 0.034908982870 Long EP CORP US N 1 N N N PROGRESS RESIDENTIAL TRUST 2021-SFR6 N/A 74333HAN5 9198000.00000000 PA USD 9271503.98000000 0.131144387056 Long ABS-CBDO CORP US N 2 2038-07-17 Fixed 0.03577545 N N N N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 681936BB5 2866000.00000000 PA USD 3121097.44000000 0.044147574287 Long DBT CORP US N 2 2024-04-01 Fixed 0.04950000 N N N N N N VASA TR 2021-VASA N/A 92230AAL0 6685000.00000000 PA USD 6701619.58000000 0.094793659583 Long ABS-MBS CORP US N 2 2039-07-15 Variable 0.03993000 N N N N N N XHR LP 549300M88BPT83ZL2164 98372MAA3 4250000.00000000 PA USD 4532370.00000000 0.064109866840 Long DBT CORP US N 2 2025-08-15 Fixed 0.06375000 N N N N N N IMT TR 2017-APTS N/A 44974AAQ0 2752375.32000000 PA USD 2742263.37000000 0.038789008728 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.02943130 N N N N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 903002509 513725.00000000 NS USD 13572614.50000000 0.191983114411 Long EP CORP US N 1 N N N REDWOOD TRUST INC DRBV4N1ERQLEMIF11G78 758075AD7 58258000.00000000 PA USD 59423160.00000000 0.840533953498 Long DBT CORP US N 2 2024-07-15 Fixed 0.05625000 N N N N N REDWOOD TRUST INC USD XXXX N N N DYNEX CAPITAL INC 5CIJ4S9HAEBWILA19B65 26817Q878 372483.00000000 NS USD 9669658.68000000 0.136776240766 Long EP CORP US N 1 N N N OFFICE PROPERTIES INCOME TRUST N/A 81618TAE0 4974000.00000000 PA USD 5333281.37000000 0.075438668610 Long DBT CORP US N 2 2024-05-15 Fixed 0.04250000 N N N N N N CBL and ASSOCS LTD PARTNERSHIP 549300VS75TWHD9JTH89 12505JAA1 11371000.00000000 PA USD 6424615.00000000 0.090875460774 Long DBT CORP US N 2 2023-12-01 Fixed 0.05250000 Y Y N N N N EASTERLY GOVERNMENT PROPERTIES INC 549300ERMCEFC6S8HL77 27616P103 1276400.00000000 NS USD 28974280.00000000 0.409837950694 Long EC CORP US N 1 N N N LEXINGTON CORP PPTYS TR REIT 549300S4MH2ICXDBFV43 529043101 6634874.00000000 NS USD 87248593.10000000 1.234121593256 Long EC CORP US N 1 N N N WFRBS COML MTG TR 2011-C3 N/A 92935VAS7 1874404.27000000 PA USD 913209.76000000 0.012917249940 Long ABS-MBS CORP US N 2 2044-03-15 Variable 0.05424611 N N N N N N BX TR 2018-IND N/A 056059AU2 6206899.98200000 PA USD 6220524.13000000 0.087988618239 Long ABS-MBS CORP US N 2 2035-11-15 Variable 0.03093000 N N N N N N ADAMS HOMES INC N/A 00623PAA9 9530000.00000000 PA USD 9982675.00000000 0.141203821611 Long DBT CORP US N 2 2025-02-15 Fixed 0.07500000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T108 3868655.00000000 NS USD 26925838.80000000 0.380862978977 Long EC CORP US N 1 N N AMR HMS 15-SFR2 N/A 02666BAG1 4593750.16380000 PA USD 45.94000000 0.000000649816 Long ABS-CBDO CORP US N 3 2052-10-17 Variable 0.00000000 N N N N N N CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATE N/A 12659XAA4 18000000.00000000 PA USD 18000000.00000000 0.254607987238 Long ABS-MBS CORP US N 2 2023-08-15 Variable 0.03808400 N N N N N N SWITCH LTD 5493002D70VTFFLT8L43 87105NAC4 7000000.00000000 PA USD 7211750.00000000 0.102009397331 Long DBT CORP US N 2 2029-06-15 Fixed 0.04125000 N N N N N N WFRBS COML MTG TR 2013-C13 N/A 92937UAJ7 3955000.00000000 PA USD 3908220.66000000 0.055281344218 Long ABS-MBS CORP US N 2 2045-05-15 Variable 0.04138395 N N N N N N PLYMOUTH INDL REIT INC N/A 729640201 171625.00000000 NS USD 4553142.60000000 0.064403692944 Long EP CORP US N 1 N N N CRSNT TR 2021-MOON N/A 22877LAG2 12201000.00000000 PA USD 12206411.14000000 0.172658320653 Long ABS-MBS CORP US N 2 2036-04-15 Variable 0.02650000 N N N N N N TERRENO RLTY CORP N/A 88146M101 371028.00000000 NS USD 25363474.08000000 0.358763504716 Long EC CORP US N 1 N N N BLACKSTONE MTG TR INC 549300OLDJ20R2Y2UW20 09257WAC4 3856000.00000000 PA USD 3969366.40000000 0.056146243873 Long DBT CORP US N 2 2023-03-15 Fixed 0.04750000 N N N N Y BLACKSTONE MTG TR INC USD XXXX N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272XAA0 25352000.00000000 PA USD 25765237.60000000 0.364446404781 Long DBT CORP US N 2 2024-06-15 Fixed 0.06250000 N N N N N MFA FINANCIAL INC USD XXXX N N N INVESCO MORTGAGE CAPITAL INC PV3BDP2HFZL2FNXQBL39 46131B506 2624692.00000000 NS USD 66273473.00000000 0.937430864881 Long EP CORP US N 1 N N N GS MTG SECS TR 2012-GCJ9 N/A 36192PAK2 5503000.00000000 PA USD 5560162.41000000 0.078647875551 Long ABS-MBS CORP US N 2 2045-11-10 Variable 0.04737800 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250N790 111400.00000000 NS USD 2328260.00000000 0.032932977353 Long EP CORP CA N 1 N N N CUSHMAN and WAKEFIELD US BORROWER LLC N/A 23340DAP7 47119730.31800000 PA USD 46379479.35000000 0.656032549249 Long LON CORP US N 2 2025-08-21 Variable 0.02842000 N N N N N N GS MTG SECS TR 2013-GCJ16 N/A 36248GAT7 7221000.00000000 PA USD 5057958.12000000 0.071544252026 Long ABS-MBS CORP US N 2 2046-11-10 Fixed 0.03500000 N N N N N N REALOGY GROUP LLC N/A 75605NAQ3 884794.37000000 PA USD 880184.59000000 0.012450112603 Long LON CORP US N 2 2025-02-08 Variable 0.03000000 N N N N N N DCP MIDSTREAM LP 52990024YYS3MLGW0E91 23311P209 256314.00000000 NS USD 6455268.09000000 0.091309045304 Long EP CORP US N 1 N N N MERIT 2021 N/A 55293BAP0 5445000.00000000 PA USD 5462061.36000000 0.077260247169 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.02850000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29273VAM2 6000000.00000000 PA USD 6202500.00000000 0.087733668936 Long EP CORP US N 2 N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V704 269997.00000000 NS USD 6884923.50000000 0.097386473034 Long EP CORP US N 1 N N N WFRBS COML MTG TR 2013-C11 N/A 92937EAL8 4727000.00000000 PA USD 4081492.70000000 0.057732257848 Long ABS-MBS CORP US N 2 2045-03-15 Variable 0.04240027 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2014-DSTY N/A 46642MAN8 8161000.00000000 PA USD 500122.40000000 0.007074175424 Long ABS-MBS CORP US N 2 2027-06-10 Variable 0.03804600 N N N N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A 46637WAS2 8192000.00000000 PA USD 1637774.95000000 0.023166143531 Long ABS-MBS CORP US N 3 2045-06-15 Fixed 0.04000000 N N N N N N SERVICE PROPERTIES TRUST 529900IS770AG1K9QG27 44106MAQ5 3141000.00000000 PA USD 3183372.09000000 0.045028442248 Long DBT CORP US N 2 2022-08-15 Fixed 0.05000000 N N N N N N ARAGON JUNIOR MEZZ N/A N/A 6397207.76000000 PA USD 6413200.78000000 0.090714007908 Long LON CORP US N 3 2025-01-15 Variable 0.07250000 N N N N N N WFRBS COML MTG TR 2013-UBS1 N/A 92938JAN2 4538000.00000000 PA USD 4830518.12000000 0.068327138658 Long ABS-MBS CORP US N 2 2046-03-15 Variable 0.05039519 N N N N N N COMM 2018-HCLV MTG TR N/A 20048KAL1 4265000.00000000 PA USD 3853870.21000000 0.054512563180 Long ABS-MBS CORP US N 2 2033-09-15 Variable 0.03143000 N N N N N N KESTREL ACQUISITION LLC 549300ER0JUHJLPPMH08 49254YAB1 5823646.60000000 PA USD 4940374.12000000 0.069881039494 Long LON CORP US N 2 2025-06-01 Variable 0.05250000 N N N N N N LIGHTSTONE HOLDCO LLC 549300VXK6UGDG7H3G98 53226GAH4 529009.46000000 PA USD 407189.16000000 0.005759645136 Long LON CORP US N 2 2024-01-30 Variable 0.04750000 N N N N N N GLADSTONE COMMERCIAL CORP 529900EVVV534W8R0T32 376536702 98875.00000000 NS USD 2641949.89000000 0.037370085771 Long EP CORP US N 1 N N N PROGRESS RESIDENTIAL 2019-SFR2 N/A 74333NAL6 3902000.00000000 PA USD 3807616.08000000 0.053858303683 Long ABS-CBDO CORP US N 2 2036-05-17 Fixed 0.04837000 N N N N N N MORGAN STANLEY CAP I TR 2015-UBS8 N/A 61691AAQ6 3051000.00000000 PA USD 1794907.27000000 0.025388762627 Long ABS-MBS CORP US N 2 2048-12-15 Fixed 0.03180000 N N N N N N ACADIA REALTY TRUST N/A 004239109 1980026.00000000 NS USD 42372556.40000000 0.599355072176 Long EC CORP US N 1 N N N BX TRUST N/A 05608WAU8 19005000.00000000 PA USD 19106893.41000000 0.270264870750 Long ABS-MBS CORP US N 2 2038-06-15 Fixed 0.03843000 N N N N N N PENNYMAC CORP EWN0I878407TKQNXZ933 70932AAE3 2000000.00000000 PA USD 2025000.00000000 0.028643398564 Long DBT CORP US N 2 2026-03-15 Fixed 0.05500000 N N N N Y PENNYMAC MORTGAGE INVESTMENT TRUST USD XXXX N N N FARMLAND PARTNERS INC 549300LB188CHPZ4IL37 31154R208 623150.00000000 NS USD 16388845.00000000 0.231818379923 Long EP CORP US N 1 N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187B200 697850.00000000 NS USD 18451154.00000000 0.260989510120 Long EP CORP US N 1 N N N URSTADT BIDDLE PPTYS INC 549300XXD0YL0AER3Z82 917286874 69225.00000000 NS USD 1833078.00000000 0.025928683335 Long EP CORP US N 1 N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAL6 7317000.00000000 PA USD 7117049.07000000 0.100669863266 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.05283724 N N N N N N COMM 2013-CCRE10 MTG TR 549300YJIXJB9DCDOI21 12626BAW4 4544000.00000000 PA USD 4625492.55000000 0.065427074896 Long ABS-MBS CORP US N 2 2046-08-10 Variable 0.04900343 N N N N N N WFRBS COML MTG TR 2012-C7 N/A 92936TAJ1 2380000.00000000 PA USD 946596.92000000 0.013389507584 Long ABS-MBS CORP US N 3 2045-06-15 Variable 0.04802812 N N N N N N PKHL COML MTG TR 2021-MF N/A 69356GAS8 5944000.00000000 PA USD 5955178.29000000 0.084235331003 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.04455000 N N N N N N LIGHTSTONE HOLDCO LLC 549300VXK6UGDG7H3G98 53226GAG6 9379338.00200000 PA USD 7219464.05000000 0.102118511706 Long LON CORP US N 2 2024-01-30 Variable 0.04750000 N N N N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 75574U200 404062.00000000 NS USD 10634911.84000000 0.150429638780 Long EP CORP US N 2 N N N CAPSTEAD MORTGAGE CORP 549300W6CQE2GR8QBV24 14067E605 488533.00000000 NS USD 12384311.55000000 0.175174702060 Long EP CORP US N 1 N N N BX TRUST N/A 05608WAS3 5000000.00000000 PA USD 5037313.00000000 0.071252229112 Long ABS-MBS CORP US N 2 2038-06-15 Variable 0.02893000 N N N N N N JPMDB COML MTG SECS TR 2016-C4 N/A 46646RAB9 4388000.00000000 PA USD 3957804.87000000 0.055982707324 Long ABS-MBS CORP US N 2 2049-12-15 Variable 0.03072181 N N N N N N FOUR SEASONS HLDGS INC 549300KN76IMZYPMJC43 35100DAR7 8640000.00000000 PA USD 8572780.80000000 0.121261025807 Long LON CORP CA N 2 2023-11-30 Variable 0.02092000 N N N N N N ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO N/A 045086AF2 26458000.00000000 PA USD 27350957.50000000 0.386876235451 Long DBT CORP US N 2 2025-08-01 Fixed 0.06750000 N N N N N N SAUL CENTERS INC N/A 804395804 82775.00000000 NS USD 2193537.50000000 0.031027342656 Long EP CORP US N 1 N N N HILTON GRAND VACATIONS BORROWER ESCROW LLC N/A 43284MAB4 10000000.00000000 PA USD 9808825.00000000 0.138744732801 Long DBT CORP US N 2 2031-07-01 Fixed 0.04875000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 19624RAA4 25791000.00000000 PA USD 26317390.18000000 0.372256541283 Long DBT CORP US N 2 2023-04-15 Fixed 0.05000000 N N N N N DIGITALBRIDGE GROUP INC USD XXXX N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T884 248009.00000000 NS USD 6469165.96000000 0.091505629121 Long EP CORP US N 1 N N N CSMC 2019-SKLZ N/A 12655GAL1 7788000.00000000 PA USD 7683676.62000000 0.108684746600 Long ABS-MBS CORP US N 2 2034-01-15 Variable 0.03693000 N N N N N N SABRA HEALTH CARE LP 549300OVKLRFSIQG0H81 78572XAG6 989000.00000000 PA USD 1056844.24000000 0.014948943598 Long DBT CORP US N 2 2029-10-15 Fixed 0.03900000 N N N N N N SOTHERLY HOTELS INC 549300IYTT21F61LSR10 83600C400 107000.00000000 NS USD 1947400.00000000 0.027545755241 Long EP CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2011-C3 N/A 46635TBD3 13774000.00000000 PA USD 5010565.23000000 0.070873884896 Long ABS-MBS CORP US N 2 2046-02-15 Variable 0.05522650 N N N N N N WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-BNK1 549300DNBJ7A0SEFVK31 95000GAJ3 6979000.00000000 PA USD 4914407.32000000 0.069513742012 Long ABS-MBS CORP US N 2 2049-08-15 Fixed 0.03000000 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031U408 340621.00000000 NS USD 9002613.03000000 0.127340954636 Long EP CORP US N 1 N N N CITIGROUP COMMERCIAL MORTGAGE TRUST 2016-C3 N/A 17325GAL0 7010000.00000000 PA USD 5693053.03000000 0.080527598511 Long ABS-MBS CORP US N 2 2049-11-15 Fixed 0.03000000 N N N N N N HILTON GRAND VACATIONS BORROWER LLC 254900HF0EZ734FDVY79 N/A 22925000.00000000 PA USD 22833300.00000000 0.322974475279 Long LON CORP US N 2 2028-05-20 Variable 0.00000000 N N N N N N BROOKFIELD PROPERTY PARTNERS LP 5493004J5Z0TZW83NU62 N/A 43000.00000000 NS USD 1046190.00000000 0.014798240564 Long EP CORP BM N 1 N N N LONESTAR II GENERATION HOLDINGS LLC 5493008TLUD4K1PDBH71 54238DAC6 1273529.78000000 PA USD 1264780.63000000 0.017890180583 Long LON CORP US N 2 2026-04-18 Variable 0.05092000 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031U804 552696.00000000 NS USD 14635390.08000000 0.207015956151 Long EP CORP US N 1 N N N GLOBAL NET LEASE INC 549300NUYANCT5SU8Z65 379378409 294000.00000000 NS USD 7890960.00000000 0.111616746832 Long EP CORP US N 1 N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q604 1018131.00000000 NS USD 26522312.55000000 0.375155145293 Long EP CORP US N 1 N N N VENTAS INC ORQTRC074CWLT3DKHT41 92276F100 1063786.00000000 NS USD 63593127.08000000 0.899517671559 Long EC CORP US N 1 N N N SERVICE PROPERTIES TRUST 529900IS770AG1K9QG27 81761LAA0 7950000.00000000 PA USD 8963625.00000000 0.126789473311 Long DBT CORP US N 2 2025-09-15 Fixed 0.07500000 N N N N N N UBS-CITIGROUP COML MTG TR 2011-C1 N/A 90268TAL8 2966000.00000000 PA USD 2981947.59000000 0.042179315218 Long ABS-MBS CORP US N 2 2045-01-10 Variable 0.06230317 N N N N N N GLOBAL MEDICAL REIT INC 549300HFRIPQDYU3GU60 37957W203 150848.00000000 NS USD 3982387.20000000 0.056330421633 Long EP CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A 46639YAE7 2518000.00000000 PA USD 1252021.61000000 0.017709705672 Long ABS-MBS CORP US N 3 2046-04-15 Variable 0.03250000 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187B309 1483255.00000000 NS USD 37971328.00000000 0.537100188603 Long EP CORP US N 1 N N N PROGRESS RESIDENTIAL 2018 SFR3 TR N/A 74331MAH9 4000000.00000000 PA USD 4020574.80000000 0.056870580965 Long ABS-CBDO CORP US N 2 2035-10-17 Fixed 0.05618000 N N N N N N CSMC 2017-CHOP A N/A 12651QAQ2 6000000.00000000 PA USD 5461292.40000000 0.077249370315 Long ABS-MBS CORP US N 2 2032-07-15 Variable 0.04693000 N N N N N N CUSHMAN and WAKEFIELD US BORROWER LLC N/A 23166MAA1 5975000.00000000 PA USD 6421631.25000000 0.090833255964 Long DBT CORP US N 2 2028-05-15 Fixed 0.06750000 N N N N N N CALI MTG TR 2019-101C N/A 129890AQ2 4099000.00000000 PA USD 3967038.43000000 0.056113314997 Long ABS-MBS CORP US N 2 2039-03-10 Variable 0.04324435 N N N N N N CGMS COML MTG TR 2017-MDDR N/A 125333BE3 6666000.00000000 PA USD 6147991.81000000 0.086962656683 Long ABS-MBS CORP US N 2 2030-07-15 Variable 0.03964500 N N N N N N HAMILTON PROJECTS ACQUIROR LLC 5493005K6XILIQ2EZY52 14314VAB9 18453600.00000000 PA USD 18194142.38000000 0.257354109495 Long LON CORP US N 2 2027-06-17 Variable 0.05750000 N N N N N N BRAEMAR HOTELS and RESORTS TRUST 2018-PRIME N/A 10482TAN2 1500000.00000000 PA USD 1456723.65000000 0.020605193138 Long ABS-MBS CORP US N 2 2035-06-15 Variable 0.02493000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A 46639YAC1 472000.00000000 PA USD 307931.86000000 0.004355661726 Long ABS-MBS CORP US N 2 2046-04-15 Variable 0.03250000 N N N N N N GRANITE POINT MORTGAGE TRUST INC 529900VX2HQZ76AYIE02 38741LAC1 10099000.00000000 PA USD 10093950.50000000 0.142777801116 Long DBT CORP US N 2 2023-10-01 Fixed 0.06375000 N N N N N GRANITE POINT MORTGAGE TRUST INC USD XXXX N N N GLADSTONE COMMERCIAL CORP 529900EVVV534W8R0T32 376536884 516000.00000000 NS USD 13787520.00000000 0.195022928678 Long EP CORP US N 1 N N N MHC COML MTG TR 2021-MHC N/A 55316VAN4 14700000.00000000 PA USD 14810399.94000000 0.209491451051 Long ABS-MBS CORP US N 2 2038-04-15 Variable 0.03294092 N N N N N N MATTAMY GROUP CORP 5493008TNY7A82WCXU31 57701RAJ1 13411000.00000000 PA USD 13945294.24000000 0.197254627661 Long DBT CORP CA N 2 2027-12-15 Fixed 0.05250000 N N N N N N GLOBAL PARTNERS LP 549300PCHWTW9P4DU444 37946R208 161507.00000000 NS USD 4429006.46000000 0.062647801124 Long EP CORP US N 1 N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460D109 65300.00000000 NS USD 20404944.00000000 0.288625651197 Long EC CORP US N 1 N N N COMM 2018-HCLV MTG TR N/A 20048KAN7 4265000.00000000 PA USD 3651008.47000000 0.051643106552 Long ABS-MBS CORP US N 2 2033-09-15 Variable 0.05149327 N N N N N N PENNYMAC CORP EWN0I878407TKQNXZ933 70932AAD5 34434000.00000000 PA USD 34670733.75000000 0.490413652010 Long DBT CORP US N 2 2024-11-01 Fixed 0.05500000 N N N N Y PENNYMAC MORTGAGE INVESTMENT TRUST USD XXXX N N N UBS-BAMLL TR 2012-WRM N/A 90269PAL5 2143000.00000000 PA USD 1307737.25000000 0.018497797169 Long ABS-MBS CORP US N 2 2030-06-10 Variable 0.04238000 N N N N N N MORGAN STANLEY BK OF AMER MERRILL LYNCH TR 2013-C12 N/A 61762XAC1 7164000.00000000 PA USD 5954873.69000000 0.084231022470 Long ABS-MBS CORP US N 2 2046-10-15 Variable 0.04762441 N N N N N N BENCHMARK 2019-B14 MTG TR N/A 08162YBM3 3427000.00000000 PA USD 3299570.09000000 0.046672049964 Long ABS-MBS CORP US N 2 2062-12-15 Variable 0.03294300 N N N N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q208 677400.00000000 NS USD 9971328.00000000 0.141043319565 Long EC CORP US N 1 N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q500 958602.00000000 NS USD 25326264.84000000 0.358237184177 Long EP CORP US N 1 N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 75574U606 120000.00000000 NS USD 3118800.00000000 0.044115077255 Long EP CORP US N 1 N N N NATIONAL STORAGE AFFILIATES TRUST N/A 637870205 91575.00000000 NS USD 2462451.75000000 0.034831104652 Long EP CORP US N 1 N N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 709102701 150100.00000000 NS USD 1544529.00000000 0.021847189995 Long EP CORP US N 1 N N N VEREIT OPER PARTNERSHIP LP 5493005TQOUJE1LCS698 92340LAA7 436000.00000000 PA USD 505826.03000000 0.007154852632 Long DBT CORP US N 2 2026-06-01 Fixed 0.04875000 N N N N N N SFO COMMERICAL MORTGAGE TRUST 2021 N/A 78432WAL7 3720000.00000000 PA USD 3752506.10000000 0.053078779179 Long ABS-MBS CORP US N 2 2038-05-15 Variable 0.03743000 N N N N N N BX TRUST 2019 N/A 056054AL3 15999371.04600000 PA USD 16044556.47000000 0.226948457164 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.02743000 N N N N N N PROGRESS RESIDENTIAL 2020-SFR1 TR N/A 74331CAH1 3633000.00000000 PA USD 3703000.28000000 0.052378524890 Long ABS-CBDO CORP US N 2 2037-04-17 Fixed 0.05268000 N N N N N N MSCCG TR 2018-SELF N/A 55358PAN6 5061000.00000000 PA USD 5072030.45000000 0.071743303560 Long ABS-MBS CORP US N 2 2037-10-15 Variable 0.02243000 N N N N N N BX COML MTG TR 2020-FOX N/A 12433AAL3 7859290.08800000 PA USD 7903630.63000000 0.111795971476 Long ABS-MBS CORP US N 2 2032-11-15 Variable 0.04343000 N N N N N N CITY OFFICE REIT INC 5493003J7157VP25NL57 178587200 178475.00000000 NS USD 4581453.25000000 0.064804143922 Long EP CORP US N 1 N N N CAESARS RESORT COLLECTION LLC 549300V3UCT773B1KR38 12769LAB5 32070965.22000000 PA USD 31685472.22000000 0.448187461480 Long LON CORP US N 2 2024-12-22 Variable 0.02842000 N N N N N N BCP TR 2021-330N N/A 05553BAN5 10000000.00000000 PA USD 9927013.00000000 0.140416488845 Long ABS-MBS CORP US N 2 2038-06-15 Variable 0.03731000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V605 371094.00000000 NS USD 9389605.94000000 0.132814926075 Long EP CORP US N 1 N N N VASA TR 2021-VASA N/A 92230AAN6 800000.00000000 PA USD 802156.16000000 0.011346409186 Long ABS-MBS CORP US N 2 2039-07-15 Variable 0.05093000 N N N N N N PROGRESS RESIDENTIAL 2019-SFR1 TR N/A 74333BAL2 3000000.00000000 PA USD 3079972.20000000 0.043565862366 Long ABS-CBDO CORP US N 2 2035-08-17 Fixed 0.05061000 N N N N N N COMPASS POWER GENERATION LLC 5493001FXZ2XUTES8E29 20451VAD5 8175248.19000000 PA USD 8054091.01000000 0.113924216727 Long LON CORP US N 2 2024-12-20 Variable 0.04500000 N N N N N N PICASSO FINANCE SUB INC N/A 71953LAA9 3240000.00000000 PA USD 3434400.00000000 0.048579203965 Long DBT CORP US N 2 2025-06-15 Fixed 0.06125000 N N N N N N COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR N/A 12515DAF1 2769000.00000000 PA USD 2621375.20000000 0.037079059081 Long ABS-MBS CORP US N 2 2050-05-10 Fixed 0.03300000 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X409 609332.00000000 NS USD 15368206.10000000 0.217381556810 Long EP CORP US N 1 N N N KREF 2018-FL1 LTD / KREF 2018-FL1 LLC 549300N45646UZ8P3S07 48275PAJ0 2560000.00000000 PA USD 2563202.56000000 0.036256213593 Long ABS-CBDO CORP US N 2 2036-06-15 Variable 0.02641130 N N N N N N COMM 2014-UBS2 MTG TR N/A 12591UAP8 3713000.00000000 PA USD 3730562.12000000 0.052768384035 Long ABS-MBS CORP US N 2 2047-03-10 Variable 0.05003997 N N N N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 76169C209 133500.00000000 NS USD 3358860.00000000 0.047510699112 Long EP CORP US N 1 N N N TRICON AMERN HOMES 2017-SFR1 TR N/A 89613DAF0 8442000.00000000 PA USD 8541440.85000000 0.120817725718 Long ABS-CBDO CORP US N 2 2034-09-17 Fixed 0.05151000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2011-C3 N/A 46635TBN1 7077000.00000000 PA USD 286588.07000000 0.004053756203 Long ABS-MBS CORP US N 3 2046-02-15 Variable 0.04409000 N N N N N N HOME PARTNERS AMER 2021-1 TR N/A 437300AL0 7758000.00000000 PA USD 7792932.72000000 0.110230161918 Long ABS-CBDO CORP US N 2 2041-09-19 Fixed 0.03325000 N N N N N N GLOBAL NET LEASE INC 549300NUYANCT5SU8Z65 379378300 531595.00000000 NS USD 14014332.67000000 0.198231168533 Long EP CORP US N 1 N N N WP GLIMCHER MALL TR 15-WPG N/A 92939VAL8 6725000.00000000 PA USD 5937514.61000000 0.083985480225 Long ABS-MBS CORP US N 2 2035-06-05 Variable 0.03516000 N N N N N N SUMMIT HOTEL PROPERTIES INC 254900OBQWJK6X20LS71 866082605 300802.00000000 NS USD 7971253.00000000 0.112752482339 Long EP CORP US N 1 N N N QTS RLTY TR INC 5493006PA4CJK4OG2J54 74736A202 29675.00000000 NS USD 757009.25000000 0.010707811192 Long EP CORP US N 1 N N N BANK 2017-BNK7 N/A 06650AAW7 11374393.00000000 PA USD 8228853.53000000 0.116396213030 Long ABS-MBS CORP US N 2 2050-11-15 Fixed 0.02800000 N N N N N N COMM 2012-CCRE1 MTG TR N/A 12624BAL0 5550000.00000000 PA USD 4852160.76000000 0.068633271381 Long ABS-MBS CORP US N 2 2045-05-15 Variable 0.05354027 N N N N N N BX COML MTG TR 2020-BXLP N/A 05607QAX6 6226611.87800000 PA USD 6234814.19000000 0.088190749540 Long ABS-MBS CORP US N 2 2036-12-15 Variable 0.02093000 N N N N N N LANDMARK INFRASTRUCTURE PARTNERS LP 549300I3H10A778Y4H45 51508J306 116375.00000000 NS USD 2967562.50000000 0.041975839729 Long EP CORP US N 1 N N N ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO N/A 045086AH8 21220000.00000000 PA USD 23607250.00000000 0.333921911485 Long DBT CORP US N 2 2027-04-01 Fixed 0.09875000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V506 369760.00000000 NS USD 9299464.00000000 0.131539878413 Long EP CORP US N 1 N N N DIVERSIFIED HEALTHCARE TR N/A 81721MAM1 9933000.00000000 PA USD 10032330.00000000 0.141906186034 Long DBT CORP US N 2 2028-02-15 Fixed 0.04750000 N N N N N N GREYSTAR REAL ESTATE PARTNERS LLC 254900HGC806SXAS4M46 39807UAB2 13480000.00000000 PA USD 13744612.40000000 0.194416005474 Long DBT CORP US N 2 2025-12-01 Fixed 0.05750000 N N N N N N BROOKFIELD RESIDENTIAL PPTYS INC / BROOKFIELD RESIDENTIAL US CORP N/A 11283YAB6 8533000.00000000 PA USD 9011274.65000000 0.127463472282 Long DBT CORP CA N 2 2027-09-15 Fixed 0.06250000 N N N N N N NATIXIS COML MTG SECS TR 2018-FL1 N/A 63874MBC5 1743000.00000000 PA USD 1656573.00000000 0.023432039846 Long ABS-MBS CORP US N 2 2035-06-15 Variable 0.02843130 N N N N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923AP3 19326000.00000000 PA USD 21451860.00000000 0.303434160951 Long DBT CORP US N 2 2022-11-01 Fixed 0.04750000 N N N N Y ARBOR REALTY TRUST INC USD XXXX N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29273V605 525651.00000000 NS USD 13183327.08000000 0.186476687386 Long EP CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 46521HAB1 20633213.73400000 PA USD 20517255.07000000 0.290214278724 Long LON CORP US N 2 2023-06-28 Variable 0.02848810 N N N N N N REALOGY GROUP LLC / REALOGY CO-ISSUER CORP N/A 75606DAJ0 3025000.00000000 PA USD 3259437.50000000 0.046104378967 Long DBT CORP US N 2 2025-06-15 Fixed 0.07625000 N N N N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAS1 5049500.00000000 PA USD 2287660.83000000 0.032358706633 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.05283724 N N N N N N HOME PARTNERS AMER 2019-2 TR N/A 43732TAL5 2852232.24000000 PA USD 2858768.13000000 0.040436955531 Long ABS-CBDO CORP US N 2 2039-10-19 Fixed 0.03866000 N N N N N N DCP MIDSTREAM LP 52990024YYS3MLGW0E91 23311P308 328262.00000000 NS USD 8203267.38000000 0.116034299800 Long EP CORP US N 1 N N N FORESTAR GROUP INC 549300BC2UB0GHV60V70 346232AE1 7000000.00000000 PA USD 7293090.00000000 0.103159942536 Long DBT CORP US N 2 2028-03-01 Fixed 0.05000000 N N N N N N HERSHA HOSPITALITY TR 549300DNC58BIN1VO064 427825401 49450.00000000 NS USD 1214986.50000000 0.017185848182 Long EP CORP US N 1 N N N CEDAR REALTY TRUST INC 54930056URX93R2RSN82 150602407 181872.00000000 NS USD 4634098.56000000 0.065548805946 Long EP CORP US N 1 N N N JPMCC COML MTG SECS TR 2016-JP4 N/A 46645UAC1 10126000.00000000 PA USD 8802885.20000000 0.124515826814 Long ABS-MBS CORP US N 2 2049-12-15 Variable 0.03418128 N N N N N N CTR PARTNERSHIP LP / CARETRUST CAP CORP N/A 126458AE8 12865000.00000000 PA USD 13196531.05000000 0.186663456065 Long DBT CORP US N 2 2028-06-30 Fixed 0.03875000 N N N N N N PROGRESS RESIDENTIAL TRUST 2021-SFR6 N/A 74333HAQ8 4704000.00000000 PA USD 4746042.00000000 0.067132233387 Long ABS-CBDO CORP US N 2 2038-07-17 Fixed 0.04184954 N N N N N N CENTERSPACE 5493002LG2SH9EEHT720 15202L206 317300.00000000 NS USD 8383066.00000000 0.118577531175 Long EP CORP US N 1 N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A 46637WAQ6 5892000.00000000 PA USD 2885130.34000000 0.040809846043 Long ABS-MBS CORP US N 2 2045-06-15 Variable 0.04989325 N N N N N N TAYLOR MORRISON COMMUNITIES INC 549300O1Z08HI2MRK572 87724RAA0 1798000.00000000 PA USD 2029043.00000000 0.028700586347 Long DBT CORP US N 2 2027-06-15 Fixed 0.05875000 N N N N N N NEW HOME CO INC 549300PLCE8TB3TVRQ85 645370AC1 8180000.00000000 PA USD 8703356.40000000 0.123108003068 Long DBT CORP US N 2 2025-10-15 Fixed 0.07250000 N N N N N N MRCD 2019-PARK G N/A 55348UAW8 2000000.00000000 PA USD 1931398.60000000 0.027319417227 Long ABS-MBS CORP US N 2 2036-12-15 Fixed 0.02717520 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 867892705 83050.00000000 NS USD 2089346.99000000 0.029553579542 Long EP CORP US N 1 N N N EG GLOBAL FINANCE PLC 549300TL8Q5207VYET27 28228PAB7 1682000.00000000 PA USD 1761895.00000000 0.024921807759 Long DBT CORP GB N 2 2025-10-30 Fixed 0.08500000 N N N N N N ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO N/A 045086AK1 9925000.00000000 PA USD 10594937.50000000 0.149864206210 Long DBT CORP US N 2 2028-01-15 Fixed 0.06625000 N N N N N N HILTON USA TR 2016-SFP N/A 43289VAS2 7257000.00000000 PA USD 7359676.39000000 0.104101799577 Long ABS-MBS CORP US N 2 2035-11-05 Fixed 0.06155223 N N N N N N ACRES COMMERCIAL REALTY CORP 549300RUJWPCMY4JFR46 00489Q201 236708.00000000 NS USD 5976877.00000000 0.084542256830 Long EP CORP US N 1 N N N INDEPENDENCE PLAZA TR 2018-INDP N/A 45378YAS3 2896000.00000000 PA USD 2864017.73000000 0.040511210536 Long ABS-MBS CORP US N 2 2035-07-10 Fixed 0.04996000 N N N N N N RWT HOLDINGS INC Z31FN4C0IQMCYFAEUP31 749772AD1 38299000.00000000 PA USD 38923273.70000000 0.550565354083 Long DBT CORP US N 2 2025-10-01 Fixed 0.05750000 N N N N N REDWOOD TRUST INC USD XXXX N N N WEYERHAEUSER CO 08IRJODWFYBI7QWRGS31 962166104 559700.00000000 NS USD 18878681.00000000 0.267036831729 Long EC CORP US N 1 N N N CHC COML MTG TR 2019-CHC N/A 162665AQ6 1489130.68000000 PA USD 1395023.73000000 0.019732454669 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.02701200 N N N N N N PENNYMAC MORTGAGE INVESTMENT TRUST 549300BSSOQO1ZWDUJ97 70931T301 414254.00000000 NS USD 10986016.08000000 0.155395968994 Long EP CORP US N 1 N N N TAH 2017 N/A 89613FAF5 3785000.00000000 PA USD 3911938.30000000 0.055333929820 Long ABS-CBDO CORP US N 2 2036-01-17 Fixed 0.05104000 N N N N N N WFRBS COML MTG TR 2013-C16 N/A 92938EBR3 3686000.00000000 PA USD 3380516.12000000 0.047817022507 Long ABS-MBS CORP US N 2 2046-09-15 Variable 0.05002766 N N N N N N COMM 2013-LC6 MTG TR N/A 20048EAE1 8301000.00000000 PA USD 8213192.85000000 0.116174694463 Long ABS-MBS CORP US N 2 2046-01-10 Variable 0.04309041 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAL2 2733635.00000000 PA USD 1394208.52000000 0.019720923614 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05184114 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X508 1412051.00000000 NS USD 32759583.20000000 0.463380641185 Long EP CORP US N 1 N N N HOME PARTNERS AMER 2018-1 TR N/A 43730WAL0 3896000.00000000 PA USD 3886896.61000000 0.054979717915 Long ABS-CBDO CORP US N 2 2037-07-17 Variable 0.02440000 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAQ1 7897000.00000000 PA USD 365075.15000000 0.005163947174 Long ABS-MBS CORP US N 3 2044-08-10 Fixed 0.04500000 N N N N N N TRI POINTE HOMES INC N/A 87265HAF6 11458000.00000000 PA USD 12431930.00000000 0.175848259710 Long DBT CORP US N 2 2027-06-01 Fixed 0.05250000 N N N N N N WFRBS COML MTG TR 2011-C5 N/A 92936JAS3 2000000.00000000 PA USD 1779046.80000000 0.025164418052 Long ABS-MBS CORP US N 2 2044-11-15 Variable 0.05250000 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q872 1046700.00000000 NS USD 26533845.00000000 0.375318270508 Long EP CORP US N 1 N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 75574U887 34400.00000000 NS USD 877200.00000000 0.012407895911 Long EP CORP US N 1 N N N VERITAS MULTIFAMILY PORTFOLIO POOL A N/A N/A 29640000.00000000 PA USD 29714100.00000000 0.420302621867 Long LON CORP US N 3 2022-11-15 Variable 0.08750000 N N N N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A 46637WAU7 4044000.00000000 PA USD 390577.61000000 0.005524676619 Long ABS-MBS CORP US N 3 2045-06-15 Fixed 0.04000000 N N N N N N CBL and ASSOCS LTD PARTNERSHIP 549300VS75TWHD9JTH89 12505JAB9 18229000.00000000 PA USD 10299385.00000000 0.145683649147 Long DBT CORP US N 2 2024-10-15 Fixed 0.04600000 Y Y N N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 76169C308 78600.00000000 NS USD 2063250.00000000 0.029184440537 Long EP CORP US N 1 N N N EXTENDED STAY AMER TR 2021-ESH N/A 30227FAL4 5558000.00000000 PA USD 5610231.86000000 0.079356102323 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.02944000 N N N N N N BX COMMERCIAL MORTGAGE TRUST 2021 N/A 05608KAN0 29154000.00000000 PA USD 29518165.53000000 0.417531150698 Long ABS-MBS CORP US N 2 2038-05-15 Variable 0.04045330 N N N N N N GS MORTGAGE SECURITIES CORPORATION II N/A 36192BAL1 6590000.00000000 PA USD 6356161.10000000 0.089907188013 Long ABS-MBS CORP US N 2 2045-01-10 Variable 0.05759811 N N N N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 035710862 1329790.00000000 NS USD 34680923.20000000 0.490557780641 Long EP CORP US N 1 N N N EG GLOBAL FINANCE PLC 549300TL8Q5207VYET27 28228PAA9 7750000.00000000 PA USD 7934062.50000000 0.112226426875 Long DBT CORP GB N 2 2025-02-07 Fixed 0.06750000 N N N N N N PROGRESS RESIDENTIAL 2019-SFR3 TR N/A 74332WAL7 1000000.00000000 PA USD 1024900.70000000 0.014497105797 Long ABS-MBS CORP US N 2 2036-09-17 Fixed 0.03867000 N N N N N N SABRA HEALTH CARE LP 549300OVKLRFSIQG0H81 78572XAF8 7475000.00000000 PA USD 8200411.60000000 0.115993905111 Long DBT CORP US N 2 2024-06-01 Fixed 0.04800000 N N N N N N GS MTG SECS TR 2013-GCJ16 N/A 36248GAP5 3708000.00000000 PA USD 3721229.40000000 0.052636373754 Long ABS-MBS CORP US N 2 2046-11-10 Variable 0.05310638 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V886 692200.00000000 NS USD 17533426.00000000 0.248008350181 Long EP CORP US N 1 N N N WFRBS COML MTG TR 2011-C4 N/A 92936CBD0 3955000.00000000 PA USD 311072.22000000 0.004400081767 Long ABS-MBS CORP US N 3 2044-06-15 Fixed 0.04964091 N N N N N N NATIXIS COML MTG SECS TR 2018-FL1 N/A 63874MBE1 651000.00000000 PA USD 605797.42000000 0.008568936765 Long ABS-MBS CORP US N 2 2035-06-15 Variable 0.03843130 N N N N N N UBS COML MTG TR 2012-C1 N/A 90269GAN1 2296000.00000000 PA USD 2192838.65000000 0.031017457500 Long ABS-MBS CORP US N 2 2045-05-10 Variable 0.05550568 N N N N N N XHR LP 549300M88BPT83ZL2164 98372MAC9 10000000.00000000 PA USD 10219400.00000000 0.144552270266 Long DBT CORP US N 2 2029-06-01 Fixed 0.04875000 N N N N N N MORGAN STANLEY CAP I TR 2016-BNK2 N/A 61690YAC6 2966000.00000000 PA USD 2659513.73000000 0.037618524323 Long ABS-MBS CORP US N 2 2049-11-15 Fixed 0.03000000 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q609 874072.00000000 NS USD 22725872.00000000 0.321454918231 Long EP CORP US N 1 N N N DIVERSIFIED HEALTHCARE TR N/A 81721MAK5 44393000.00000000 PA USD 45835772.50000000 0.648341876653 Long DBT CORP US N 2 2024-05-01 Fixed 0.04750000 N N N N N N GRANITE POINT MORTGAGE TRUST INC 529900VX2HQZ76AYIE02 38741LAB3 6694000.00000000 PA USD 6622876.25000000 0.093679843985 Long DBT CORP US N 2 2022-12-01 Fixed 0.05625000 N N N N N GRANITE POINT MORTGAGE TRUST INC USD XXXX N N N GREEN TREE FINANCIAL CORP N/A 393505MR0 412579.59020000 PA USD 432565.48000000 0.006118590345 Long ABS-CBDO CORP US N 2 2027-06-15 Variable 0.07750000 N N N N N N CREST CLARENDON STR 02 1 LTD N/A 226063204 500000.00000000 PA USD 10000.00000000 0.000141448881 Long ABS-CBDO CORP KY N 3 2035-12-28 Variable 0.00616000 N N N N N N BX TR 2018-IND N/A 056059AS7 15990799.99600000 PA USD 16020889.88000000 0.226613695895 Long ABS-MBS CORP US N 2 2035-11-15 Variable 0.02143000 N N N N N N GS MTG SECS TR 2021 N/A 36260XAW6 20000000.00000000 PA USD 20213490.00000000 0.285917555776 Long ABS-MBS CORP US N 2 2035-11-21 Variable 0.05785000 N N N N N N HERSHA HOSPITALITY TR 549300DNC58BIN1VO064 427825609 197750.00000000 NS USD 4651080.00000000 0.065789006515 Long EP CORP US N 1 N N N MHC COML MTG TR 2021-MHC N/A 55316VAL8 12354000.00000000 PA USD 12439093.12000000 0.175949581242 Long ABS-MBS CORP US N 2 2038-04-15 Variable 0.02694092 N N N N N N BX TR 2019-OC11 N/A 05606FAN3 20085000.00000000 PA USD 21414536.62000000 0.302906225915 Long ABS-MBS CORP US N 2 2041-12-09 Variable 0.04075457 N N N N N N PS BUSINESS PKS INC CALIF N/A 69360J552 52000.00000000 NS USD 1445080.00000000 0.020440495011 Long EP CORP US N 1 N N N MSJP 2015-HAUL N/A 553697AN3 1500000.00000000 PA USD 1194645.30000000 0.016898124183 Long ABS-MBS CORP US N 2 2047-09-05 Variable 0.04851000 N N N N N N KKR REAL ESTATE FINANCE TRUST INC 549300K23AYZDZ2REL62 48251KAB6 15629000.00000000 PA USD 16533893.16000000 0.233870069927 Long DBT CORP US N 2 2023-05-15 Fixed 0.06125000 N N N N Y KKR REAL ESTATE FINANCE TRUST INC USD XXXX N N N DBUBS 2011 LC3 N/A 23305YAM1 3945000.00000000 PA USD 3841729.37000000 0.054340832356 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05420067 N N N N N N BX TRUST 2019 N/A 056054AK5 14079768.25800000 PA USD 14123425.40000000 0.199774273000 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.02393000 N N N N N N APARTMENT INCOME REIT CORP N/A 03750L109 873240.00000000 NS USD 45967353.60000000 0.650203076599 Long EC CORP US N 1 N N N HOWARD HUGHES CORP 549300BVHY25JZC1KI49 44267DAE7 10000000.00000000 PA USD 9908500.00000000 0.140154624530 Long DBT CORP US N 2 2029-02-01 Fixed 0.04125000 N N N N N N JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP 2018-LAQ N/A 46649VAN1 1328800.02270000 PA USD 1331278.23000000 0.018830781699 Long ABS-MBS CORP US N 2 2035-06-15 Variable 0.03093000 N N N N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 035710870 2151343.00000000 NS USD 56150052.30000000 0.794236211081 Long EP CORP US N 1 N N N VEREIT INC 5493002H54FNIBW75H44 92339V209 672084.00000000 NS USD 16795379.16000000 0.237568760157 Long EP CORP US N 1 N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q307 202500.00000000 NS USD 5153625.00000000 0.072897449346 Long EP CORP US N 1 N N N BRAEMAR HOTELS and RESORTS INC 549300JDUUEBN868C776 10482B309 173050.00000000 NS USD 4578903.00000000 0.064768070921 Long EP CORP US N 1 N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T207 594284.00000000 NS USD 14946242.60000000 0.211412930287 Long EP CORP US N 1 N N N SITE CENTERS CORP W2AVA6SODOQ1LCYJQR54 82981J109 1602638.00000000 NS USD 25417838.68000000 0.359532485904 Long EC CORP US N 1 N N N PROGRESS RESIDENTIAL 2021-SFR3 TR N/A 74333VAQ7 7492000.00000000 PA USD 7599422.54000000 0.107492982060 Long ABS-CBDO CORP US N 2 2026-05-17 Fixed 0.04254000 N N N N N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 709102503 99385.00000000 NS USD 1051493.30000000 0.014873255150 Long EP CORP US N 1 N N N MARRIOTT OWNERSHIP RESORTS INC BW4532OH033VURR0IT68 57164PAH9 6580000.00000000 PA USD 6621125.00000000 0.093655072750 Long DBT CORP US N 2 2029-06-15 Fixed 0.04500000 N N N N N N BX COML MTG TR 2019 N/A 05608FAN1 6426000.00000000 PA USD 6425994.86000000 0.090894978739 Long ABS-MBS CORP US N 2 2032-11-15 Variable 0.02093000 N N N N N N JPMDB COML MTG SECS TR 2018-C8 N/A 46591AAG0 1698000.00000000 PA USD 1493086.55000000 0.021119542292 Long ABS-MBS CORP US N 2 2051-06-15 Variable 0.03242586 N N N N N N NEXPOINT RESIDENTIAL TRUST INC 549300U2J6XVYBF87166 65341D102 279400.00000000 NS USD 16470630.00000000 0.232975219603 Long EC CORP US N 1 N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 76169C407 68225.00000000 NS USD 1905524.25000000 0.026953427440 Long EP CORP US N 1 N N N REDWOOD TRUST INC DRBV4N1ERQLEMIF11G78 758075AC9 14195000.00000000 PA USD 14230487.50000000 0.201288654433 Long DBT CORP US N 2 2023-08-15 Fixed 0.04750000 N N N N N REDWOOD TRUST INC USD XXXX N N N MOTEL 6 TR 2017-M6MZ N/A 61975GAA5 2531816.43800000 PA USD 2449817.99000000 0.034652401529 Long ABS-MBS CORP US N 2 2024-08-15 Variable 0.07019500 N N N N N N DYNEX CAPITAL INC 5CIJ4S9HAEBWILA19B65 26817Q886 1163462.00000000 NS USD 20302411.90000000 0.287175346108 Long EC CORP US N 1 N N N ASHFORD HOSPITALITY TRUST INC N/A 044103604 327400.00000000 NS USD 8594250.00000000 0.121564705240 Long EP CORP US N 1 N N N DATABANK ISSUER LLC 2021-1A N/A 23802WAE1 2300000.00000000 PA USD 2352114.32000000 0.033270394042 Long ABS-CBDO CORP US N 2 2051-02-27 Fixed 0.04430000 N N N N N N ALEN 2021-ACEN MTG TR N/A 01449NAL0 3384000.00000000 PA USD 3385021.29000000 0.047880747633 Long ABS-MBS CORP US N 2 2034-04-15 Variable 0.05093000 N N N N N N CHERRY HILL MORTGAGE INVESTMENT CORP N/A 164651309 245925.00000000 NS USD 6300598.50000000 0.089121261249 Long EP CORP US N 1 N N N SABRA HEALTH CARE LP 549300OVKLRFSIQG0H81 14162VAB2 20264000.00000000 PA USD 23023343.61000000 0.325662620891 Long DBT CORP US N 2 2026-08-15 Fixed 0.05125000 N N N N N N ASHFORD HOSPITALITY TRUST INC N/A 044103406 190073.00000000 NS USD 5038835.23000000 0.071273760885 Long EP CORP US N 1 N N N AG MORTGAGE INVESTMENT TR INC 549300SNP0PBR2XTFR48 001228204 38510.00000000 NS USD 965060.60000000 0.013650674273 Long EP CORP US N 1 N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13 N/A 61763BAC8 6218000.00000000 PA USD 5971954.98000000 0.084472635407 Long ABS-MBS CORP US N 2 2046-11-15 Variable 0.04897503 N N N N N N SABRA HEALTH CARE REIT INC 549300E3BC7GU7TAZ621 78573L106 1554475.00000000 NS USD 28897690.25000000 0.408754597244 Long EC CORP US N 1 N N N KENNEDY-WILSON INC 5EA4464UK7FM5QNNKL62 489399AL9 20000000.00000000 PA USD 20525000.00000000 0.290323829893 Long DBT CORP US N 2 2029-03-01 Fixed 0.04750000 N N N N N N NEW YORK MORTGAGE TRUST INC 549300JFGR0M7ULHWG48 649604709 281092.00000000 NS USD 7076715.97000000 0.100099356076 Long EP CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2020-NNN N/A 46652BBN8 2000000.00000000 PA USD 2011057.80000000 0.028446187704 Long ABS-MBS CORP US N 2 2037-01-16 Fixed 0.04625400 N N N N N N GS MTG SECS CORP TR 2018-RIVR N/A 36255WAN5 3808000.00000000 PA USD 3405302.10000000 0.048167617423 Long ABS-MBS CORP US N 2 2035-07-15 Variable 0.02693000 N N N N N N AMERICAN FINANCE TRUST INC 549300GN4H0K3IUS8983 02607T406 874787.00000000 NS USD 23619249.00000000 0.334091635999 Long EP CORP US N 1 N N N GPMT 2018-FL1 LTD / GPMT 2018-FL1 LLC N/A 36255CAJ8 2500000.00000000 PA USD 2483322.50000000 0.035126319077 Long ABS-MBS CORP US N 2 2035-11-21 Variable 0.03035250 N N N N N N NEW YORK MORTGAGE TRUST INC 549300JFGR0M7ULHWG48 649604AD7 2472000.00000000 PA USD 2497338.00000000 0.035324566757 Long DBT CORP US N 2 2022-01-15 Fixed 0.06250000 N N N N N NEW YORK MORTGAGE TRUST INC USD XXXX N N N CROWN CASTLE INTERNATIONAL CORP 54930012H97VSM0I2R19 22822V101 502310.00000000 NS USD 96991037.90000000 1.371927385551 Long EC CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031UCF6 25920000.00000000 PA USD 27475200.00000000 0.388633631721 Long DBT CORP US N 2 2024-10-01 Fixed 0.04750000 N N N N N N HILTON USA TR 2016-HHV N/A 43300LAQ3 9440000.00000000 PA USD 9619524.26000000 0.136067095001 Long ABS-MBS CORP US N 2 2038-11-05 Variable 0.04193500 N N N N N N GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP N/A 37892AAA8 5075000.00000000 PA USD 5045241.82000000 0.071364381384 Long DBT CORP US N 2 2027-12-15 Fixed 0.03750000 N N N N N N BCP TR 2021-330N N/A 05553BAQ8 9000000.00000000 PA USD 8934292.80000000 0.126374572622 Long ABS-MBS CORP US N 2 2038-06-15 Variable 0.04727000 N N N N N N UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC N/A 91327BAA8 14975000.00000000 PA USD 15178061.00000000 0.214691975633 Long DBT CORP US N 2 2029-02-15 Fixed 0.06500000 N N N N N N ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO N/A 045086AM7 4015000.00000000 PA USD 4026121.55000000 0.056949039123 Long DBT CORP US N 2 2029-08-01 Fixed 0.04625000 N N N N N N TIMES SQUARE HOTEL TR N/A 887367AA8 4466746.13410000 PA USD 4856492.07000000 0.068694537276 Long DBT CORP US N 2 2026-08-01 Fixed 0.08528000 N N N N N N BRIGHTSPIRE CAPITAL INC 549300BOIFLLMVU37752 10949T109 357296.00000000 NS USD 3397884.96000000 0.048062702807 Long EC CORP US N 1 N N N BROOKFIELD RESIDENTIAL PPTYS INC / BROOKFIELD RESIDENTIAL US CORP N/A 11283YAG5 5000000.00000000 PA USD 5090000.00000000 0.071997480835 Long DBT CORP CA N 2 2029-06-15 Fixed 0.05000000 N N N N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 64828T201 11312599.00000000 NS USD 110410966.24000000 1.561750771304 Long EC CORP US N 1 N N N CREDIT SUISSE COM MTG TR 2021 N/A 12657VAQ5 8900000.00000000 PA USD 8877750.89000000 0.125574793628 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.04310008 N N N N N N WFRBS COML MTG TR 2012-C7 N/A 92936TAL6 2000000.00000000 PA USD 99995.80000000 0.001414429409 Long ABS-MBS CORP US N 3 2045-06-15 Fixed 0.04500000 N N N N N N BENCHMARK 2019-B14 MTG TR N/A 08162YBP6 5141000.00000000 PA USD 4662583.68000000 0.065951724783 Long ABS-MBS CORP US N 2 2062-12-15 Variable 0.03294300 N N N N N N INVITATION HOMES INC N/A 46187W107 397200.00000000 NS USD 16158096.00000000 0.228554461120 Long EC CORP US N 1 N N N PARK INTERMEDIATE HOLDINGS LLC / PK DOMESTIC PROPERTY LLC / PK FINANCE CO-ISSUER N/A 70052LAC7 12000000.00000000 PA USD 12270000.00000000 0.173557777967 Long DBT CORP US N 2 2029-05-15 Fixed 0.04875000 N N N N N N PROGRESS RESIDENTIAL 2021 N/A 74333DAS3 8467000.00000000 PA USD 8480205.13000000 0.119951553306 Long ABS-CBDO CORP US N 2 2038-04-19 Fixed 0.04998000 N N N N N N SFO COMMERICAL MORTGAGE TRUST 2021 N/A 78432WAJ2 4600000.00000000 PA USD 4634440.20000000 0.065553638405 Long ABS-MBS CORP US N 2 2038-05-15 Variable 0.02993000 N N N N N N DBUBS 2011-LC1 MTG TR N/A 233050AL7 12222000.00000000 PA USD 11883295.38000000 0.168087884359 Long ABS-MBS CORP US N 2 2046-11-10 Fixed 0.04652000 N N N N N N JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP 2018-LAQ N/A 46649VAJ0 4800000.00800000 PA USD 4805944.81000000 0.067979551936 Long ABS-MBS CORP US N 2 2032-06-15 Variable 0.01693000 N N N N N N CRSNT TR 2021-MOON N/A 22877LAH0 4844000.00000000 PA USD 4846095.51000000 0.068547479098 Long ABS-MBS CORP US N 2 2036-04-15 Variable 0.03600000 N N N N N N BRAEMAR HOTELS and RESORTS INC 549300JDUUEBN868C776 10482B200 98091.00000000 NS USD 2148192.90000000 0.030385948359 Long EP CORP US N 2 N N N UNITI GROUP LP / UNITI FIBER HOLDINGS INC / CSL CAPITAL LLC N/A 91327AAA0 5000000.00000000 PA USD 5325000.00000000 0.075321529558 Long DBT CORP US N 2 2025-02-15 Fixed 0.07875000 N N N N N N DOUGLAS EMMETT INC N/A 25960P109 548100.00000000 NS USD 18306540.00000000 0.258943961261 Long EC CORP US N 1 N N N WELLS FARGO COML MTG TR 2012-LC5 N/A 94988HAR2 8347000.00000000 PA USD 8203679.51000000 0.116040129333 Long ABS-MBS CORP US N 2 2045-10-15 Variable 0.04757385 N N N N N N ARMOUR RESIDENTIAL REIT INC 549300K0WA0EJUX74V72 042315606 102500.00000000 NS USD 2724450.00000000 0.038537040601 Long EP CORP US N 1 N N N WASHINGTON REAL ESTATE INVS TR 549300DI34BGS8LVKW95 939653101 1337247.00000000 NS USD 32481729.63000000 0.459450433507 Long EC CORP US N 1 N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q505 2359586.00000000 NS USD 60877318.80000000 0.861102867120 Long EP CORP US N 1 N N N DIVERSIFIED HEALTHCARE TR N/A 25525PAA5 21500000.00000000 PA USD 23730625.00000000 0.335667037065 Long DBT CORP US N 2 2025-06-15 Fixed 0.09750000 N N N N N N VICI PPTYS 1 LLC 549300XI4XP4JVS3XU20 92565EAB9 19845000.00000000 PA USD 19623926.70000000 0.277578248822 Long LON CORP US N 2 2024-12-22 Variable 0.01839000 N N N N N N MID-AMERICA APT CMNTYS INC 549300FQZKFR5YNSHZ21 59522J103 1031106.00000000 NS USD 199106568.60000000 2.816340148738 Long EC CORP US N 1 N N N NATIXIS COML MTG SECS TR 2020-2PAC N/A 63875DAS0 2502675.00000000 PA USD 2527261.53000000 0.035747831743 Long ABS-MBS CORP US N 2 2037-01-15 Variable 0.03500000 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250N717 498275.00000000 NS USD 11091601.50000000 0.156889462953 Long EP CORP CA N 1 N N N MERIT 2021 N/A 55293BAM7 6867000.00000000 PA USD 6886388.97000000 0.097407201944 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.02400000 N N N N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 903002103 433623.00000000 NS USD 10094743.44000000 0.142789017164 Long EC CORP US N 1 N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q807 1669083.00000000 NS USD 42962196.42000000 0.607695464325 Long EP CORP US N 1 N N N WHEELER REAL ESTATE INVESTMENT TRUST 5493005TOFFG62ETJY29 963025606 203757.00000000 NS USD 3496604.80000000 0.049459083905 Long EP CORP US N 2 N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V803 515200.00000000 NS USD 13848576.00000000 0.195886558971 Long EP CORP US N 1 N N N FKH 2021-SFR1 F1 N/A 33767WAN3 7916000.00000000 PA USD 7999909.60000000 0.113157826741 Long ABS-CBDO CORP US N 2 2038-08-17 Fixed 0.03238000 N N N N N N REDWOOD TRUST INC DRBV4N1ERQLEMIF11G78 758075402 542352.00000000 NS USD 6437718.24000000 0.091060804638 Long EC CORP US N 1 N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 035710847 535092.00000000 NS USD 14105025.12000000 0.199514003097 Long EP CORP US N 1 N N N GS MTG SECS TR 2012-GCJ9 N/A 36192PAN6 1908000.00000000 PA USD 1647743.84000000 0.023307152365 Long ABS-MBS CORP US N 2 2045-11-10 Variable 0.04737800 N N N N N N BROADMARK REALTY CAPITAL INC N/A 11135B100 1388400.00000000 NS USD 14397708.00000000 0.203653969707 Long EC CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2018-AON N/A 46649XAU1 5039000.00000000 PA USD 5075461.70000000 0.071791838208 Long ABS-MBS CORP US N 2 2031-07-05 Variable 0.04613200 N N N N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 31635A105 900061997.27800000 NS USD 900242009.68000000 12.73382256180 Long STIV RF US N 1 N N N CRSNT TR 2021-MOON N/A 22877LAJ6 2787000.00000000 PA USD 2788173.33000000 0.039438399979 Long ABS-MBS CORP US N 2 2036-04-15 Variable 0.04600000 N N N N N N ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FIN CORP N/A 451102BZ9 5000000.00000000 PA USD 5243750.00000000 0.074172257393 Long DBT CORP US N 2 2027-05-15 Fixed 0.05250000 N N N N N N BROOKFIELD ASSET MANAGEMENT INC C6J3FGIWG6MBDGTE8F80 112585104 786300.00000000 NS 42447342.90000000 0.600412918856 Long EC CORP CA N 1 N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T306 791300.00000000 NS USD 33234600.00000000 0.470099700705 Long EC CORP US N 1 N N N COMM 2012-CCRE2 MTG TR N/A 12624KBA3 2000000.00000000 PA USD 1389334.20000000 0.019651976903 Long ABS-MBS CORP US N 2 2045-08-15 Fixed 0.04250000 N N N N N N GAMING AND LEISURE PROPERTIES INC 5493006GWRDBCZYWTM57 36467J108 534446.00000000 NS USD 25300673.64000000 0.357875199514 Long EC CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A 46639YAX5 7722000.00000000 PA USD 5955000.22000000 0.084232812223 Long ABS-MBS CORP US N 2 2046-04-15 Variable 0.04166516 N N N N N N ARLINGTON ASSET INVESTMENT CORP 549300LA9ZT7L8G7IT53 041356304 240823.00000000 NS USD 6025271.05000000 0.085226785256 Long EP CORP US N 1 N N N JPMCC 2021-MHC N/A 466330AN7 4022000.00000000 PA USD 4044616.11000000 0.057210642606 Long ABS-MBS CORP US N 2 2038-04-15 Variable 0.02543000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V407 232046.00000000 NS USD 5833636.44000000 0.082516135126 Long EP CORP US N 1 N N N SG COML MTG SECS TR 2020-COVE N/A 78397FAL7 5000000.00000000 PA USD 4789134.50000000 0.067741771981 Long ABS-MBS CORP US N 2 2037-03-15 Variable 0.03727570 N N N N N N LAST MILE LOGISTICS PAN EURO FINANCE DAC 635400NOPX1IKIAX7N90 N/A 4500000.00000000 PA 5343975.61000000 0.075589937439 Long ABS-MBS CORP IE N 2 2026-08-17 Variable 0.02700000 N N N N N N COMM 2012-CCRE2 MTG TR N/A 12624KAY2 8000000.00000000 PA USD 6638120.00000000 0.093895465125 Long ABS-MBS CORP US N 2 2045-08-15 Variable 0.04830613 N N N N N N MONMOUTH REAL ESTATE INVT CORP 549300DFIUDCN3KVN260 609720107 2018169.00000000 NS USD 38425937.76000000 0.543530592824 Long EC CORP US N 1 N N N WFRBS COML MTG TR 2011-C5 N/A 92936JAN4 5097000.00000000 PA USD 5035547.51000000 0.071227256453 Long ABS-MBS CORP US N 2 2044-11-15 Variable 0.05678874 N N N N N N GLOBAL PARTNERS LP / GLP FIN CORP N/A 37954FAG9 3955000.00000000 PA USD 4133686.90000000 0.058470538971 Long DBT CORP US N 2 2027-08-01 Fixed 0.07000000 N N N N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q406 2133504.00000000 NS USD 55727124.48000000 0.788253944359 Long EP CORP US N 1 N N N LEXINGTON CORP PPTYS TR REIT 549300S4MH2ICXDBFV43 529043309 440102.00000000 NS USD 26609988.45000000 0.376395311094 Long EP CORP US N 2 N N N MSCCG TR 2018-SELF N/A 55358PAQ9 7312000.00000000 PA USD 7330228.82000000 0.103685266992 Long ABS-MBS CORP US N 2 2037-10-15 Variable 0.03143000 N N N N N N SAUL CENTERS INC N/A 804395879 76841.00000000 NS USD 2099296.12000000 0.029694308873 Long EP CORP US N 1 N N N COMM 2012-CCRE1 MTG TR N/A 12624BAS5 6346000.00000000 PA USD 2296183.97000000 0.032479265496 Long ABS-MBS CORP US N 3 2045-05-15 Fixed 0.02462000 N N N N N N CTO NEWCO REIT INC N/A 22948Q200 120000.00000000 NS USD 3093600.00000000 0.043758626073 Long EP CORP US N 1 N N N ASHFORD HOSPITALITY TRUST INC N/A 044103802 231565.00000000 NS USD 6080896.90000000 0.086013606684 Long EP CORP US N 1 N N N NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST 19-1776 N/A 63875BAJ4 4000000.00000000 PA USD 4013622.00000000 0.056772234386 Long ABS-MBS CORP US N 2 2036-10-15 Fixed 0.03901700 N N N N N N ASHFORD HOSPITALITY TRUST 2018-ASHF N/A 04410RAN6 3000000.00000000 PA USD 2913124.80000000 0.041205824550 Long ABS-MBS CORP US N 2 2035-04-15 Variable 0.03193000 N N N N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T876 199750.00000000 NS USD 5257420.00000000 0.074365618014 Long EP CORP US N 1 N N N READY CAP MTG FING 2019-FL3 LLC N/A 75574XAJ4 3401000.00000000 PA USD 3234034.71000000 0.045745059343 Long ABS-MBS CORP US N 2 2034-03-25 Variable 0.02989250 N N N N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 903002400 430965.00000000 NS USD 11330069.85000000 0.160262571099 Long EP CORP US N 1 N N N PKHL COML MTG TR 2021-MF N/A 69356GAN9 7400000.00000000 PA USD 7411602.46000000 0.104836288030 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.02705000 N N N N N N KNDR 2021-KIND F N/A 482606AS9 14155000.00000000 PA USD 14155000.00000000 0.200220892187 Long ABS-MBS CORP US N 2 2026-08-15 Variable 0.04150000 N N N N N N RETAIL VALUE INC 549300VO5RB7323N1Z31 76133Q102 274131.00000000 NS USD 6699761.64000000 0.094767379230 Long EC CORP US N 1 N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 64828T300 964527.00000000 NS USD 24769053.36000000 0.350355490100 Long EP CORP US N 1 N N N BENCHMARK 2020-B18 MORTGAGE TRUST N/A 08163ABT9 11379000.00000000 PA USD 11260133.83000000 0.159273333916 Long ABS-MBS CORP US N 2 2053-07-15 Variable 0.04388490 N N N N N N BX TRUST 2018-EXCL N/A 05608BAS9 5181000.00000000 PA USD 5109814.10000000 0.072277749064 Long ABS-MBS CORP US N 2 2034-04-15 Variable 0.03693000 N N N N N N URSTADT BIDDLE PPTYS INC 549300XXD0YL0AER3Z82 917286882 281325.00000000 NS USD 7455112.50000000 0.105451732681 Long EP CORP US N 1 N N N INVESCO MORTGAGE CAPITAL INC PV3BDP2HFZL2FNXQBL39 46131B407 1419346.00000000 NS USD 35441069.62000000 0.501309966752 Long EP CORP US N 1 N N N RLJ LODGING TR N/A 74965L200 31585.00000000 NS USD 898277.40000000 0.012706033377 Long EP CORP US N 2 N N N PROLOGIS INC 529900DFH19P073LZ636 74340W202 93396.00000000 NS USD 6724512.00000000 0.095117470304 Long EP CORP US N 1 N N N CAPITAL TR RE CDO 05-1 LTD COR 549300EO21RSSTCI1873 140558AD9 2250000.00000000 PA USD 225.00000000 0.000003182599 Long ABS-CBDO CORP KY N 3 2050-03-20 Variable 0.03346380 N N N N N N MONMOUTH REAL ESTATE INVT CORP 549300DFIUDCN3KVN260 609720404 342800.00000000 NS USD 8703692.00000000 0.123112750092 Long EP CORP US N 1 N N N GREEN ENERGY PARTNERS/STONEWALL LLC 549300BHYFK6M9HVNA29 39303NAB7 10763385.69500000 PA USD 9808135.21000000 0.138734975799 Long LON CORP US N 2 2021-11-13 Variable 0.06500000 N N N N N N DIGITALBRIDGE ISSUER LLC / DIGITALBRIDGE CO-ISSUER LLC N/A 25402JAA7 15915000.00000000 PA USD 16052632.92000000 0.227062697647 Long ABS-CBDO CORP US N 2 2051-09-25 Fixed 0.03933000 N N N N N N KNDL 2019-KNSQ MORTGAGE TRUST N/A 482598AN9 5000000.00000000 PA USD 5003107.50000000 0.070768396139 Long ABS-MBS CORP US N 2 2036-05-15 Variable 0.01893000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2011-C4 N/A 46636DBA3 1400000.00000000 PA USD 1391398.68000000 0.019681178742 Long ABS-MBS CORP US N 2 2046-07-15 Fixed 0.03873000 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187BAB7 18400000.00000000 PA USD 18883920.00000000 0.267110936798 Long DBT CORP US N 2 2026-01-15 Fixed 0.06250000 N N N N N TWO HARBORS INVESTMENT COR USD XXXX N N N WP GLIMCHER MALL TR 15-WPG N/A 92939VAN4 2541000.00000000 PA USD 2036114.73000000 0.028800615177 Long ABS-MBS CORP US N 2 2035-06-05 Variable 0.03516000 N N N N N N PROGRESS RESIDENTIAL 2018 SFR3 TR N/A 74331MAF3 3412000.00000000 PA USD 3447226.85000000 0.048760638324 Long ABS-CBDO CORP US N 2 2035-10-17 Fixed 0.05368000 N N N N N N AGELLAN PORTFOLIO N/A N/A 6611000.00000000 PA USD 6677110.00000000 0.094446974315 Long LON CORP US N 3 2025-08-07 Variable 0.09000000 N N N N N N GREAT AJAX CORP 5493004ID2QQWNGDYC18 38983D409 611442.00000000 NS USD 15866919.90000000 0.224435807745 Long EP CORP US N 2 N N N BROOKFIELD ASSET MANAGEMENT REINSURANCE PARTNERS LTD 9845004583U3B8E06924 N/A 6722.00000000 NS 363901.80000000 0.005147350269 Long EC CORP CA N 1 N N N WELLS FARGO COML MTG TR 2016-NXS6 549300CFP9NBBMZH1008 95000KAJ4 5037000.00000000 PA USD 4262757.69000000 0.060296230863 Long ABS-MBS CORP US N 2 2049-11-15 Fixed 0.03059000 N N N N N N BLUEROCK RESIDENTIAL GROWTH REIT INC 549300KWLV0TGICOUU26 09627J748 252994.00000000 NS USD 6491826.04000000 0.091826153419 Long EP CORP US N 1 N N N BLUEROCK RESIDENTIAL GROWTH REIT INC 549300KWLV0TGICOUU26 09627J656 168100.00000000 NS USD 4252930.00000000 0.060157219287 Long EP CORP US N 1 N N N FIVE PT OPER CO LP / FIVE PT PT CAP CORP N/A 33834YAA6 18463000.00000000 PA USD 19339992.50000000 0.273562031313 Long DBT CORP US N 2 2025-11-15 Fixed 0.07875000 N N N N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923876 85700.00000000 NS USD 2193491.50000000 0.031026691991 Long EP CORP US N 1 N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X102 21834141.00000000 NS USD 101965438.47000000 1.442289725376 Long EC CORP US N 1 N N N PENNYMAC MORTGAGE INVESTMENT TRUST 549300BSSOQO1ZWDUJ97 70931T400 750508.00000000 NS USD 20279626.77000000 0.286853052992 Long EP CORP US N 1 N N N SBA SENIOR FINANCE II LLC 549300PVT2ADFWMYEW87 N/A 23980000.00000000 PA USD 23712623.00000000 0.335412400788 Long LON CORP US N 2 2025-04-11 Variable 0.01850000 N N N N N N M/I HOMES INC 5299005M71FH9CCSFB69 55305BAQ4 10842000.00000000 PA USD 11140155.00000000 0.157576246782 Long DBT CORP US N 2 2025-08-01 Fixed 0.05625000 N N N N N N IMT TR 2017-APTS N/A 44974ABE6 9213000.00000000 PA USD 9355326.11000000 0.132330041712 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.03496600 N N N N N N COMM 2013-LC6 MTG TR N/A 20048EAG6 4741000.00000000 PA USD 3504357.09000000 0.049568739180 Long ABS-MBS CORP US N 3 2046-01-10 Fixed 0.03500000 N N N N N N FEDERAL NAT MTG ASN GTD REM PA N/A 31392CMZ4 28614.32960000 PA USD 8289.49000000 0.000117253909 Long ABS-CBDO USGSE US N 2 2042-02-25 Variable 0.03467780 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAJ7 8899000.00000000 PA USD 7475160.00000000 0.105735302327 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05184114 N N N N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 64828T409 1524162.00000000 NS USD 38485090.50000000 0.544367301717 Long EP CORP US N 1 N N N ELLINGTON FINANCIAL INC 60GS1D1R1YY5G1W7IT74 28852N208 368770.00000000 NS USD 9481076.70000000 0.134108769746 Long EP CORP US N 1 N N N AMERICAN FINANCE TRUST INC 549300GN4H0K3IUS8983 02607T505 379839.00000000 NS USD 10027749.60000000 0.141841396788 Long EP CORP US N 1 N N N GPMT 2019-FL2 LTD N/A 36259BAJ6 2142000.00000000 PA USD 2127110.53000000 0.030087740593 Long ABS-CBDO CORP KY N 2 2036-02-22 Variable 0.03035250 N N N N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAN2 3456000.00000000 PA USD 2832700.38000000 0.040068230122 Long ABS-MBS CORP US N 3 2049-07-15 Variable 0.05283724 N N N N N N GLOBAL PARTNERS LP 549300PCHWTW9P4DU444 37946R307 67800.00000000 NS USD 1853652.00000000 0.026219700264 Long EP CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031UCJ8 16985000.00000000 PA USD 17749325.00000000 0.251062217394 Long DBT CORP US N 2 2026-02-15 Fixed 0.05500000 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAN8 8138000.00000000 PA USD 3255362.76000000 0.046046742225 Long ABS-MBS CORP US N 3 2044-08-10 Variable 0.05184114 N N N N N N DIAMOND INFRASTRUCTURE FUNDING LLC N/A 25265LAE0 6311000.00000000 PA USD 6340457.85000000 0.089685067297 Long ABS-CBDO CORP US N 2 2049-04-15 Fixed 0.03475000 N N N N N N MORGAN STANLEY CAP I TR 2012-C4 5493005SNWQW3UUOQX45 61760VAE3 6310000.00000000 PA USD 5663598.55000000 0.080110968185 Long ABS-MBS CORP US N 2 2045-03-15 Variable 0.05408966 N N N N N N PROVIDENCE PLACE GROUP LTD PARTNERSHIP N/A 743784AB6 3405680.32000000 PA USD 3918037.00000000 0.055420195249 Long ABS-MBS CORP US N 2 2028-07-20 Fixed 0.07750000 N N N N N N MOTEL 6 TR 2017-MTL6 N/A 61975FAQ2 10881192.98010000 PA USD 10894691.10000000 0.154104187364 Long ABS-MBS CORP US N 2 2034-08-15 Variable 0.04343000 N N N N N N FORESTAR GROUP INC 549300BC2UB0GHV60V70 346232AF8 9000000.00000000 PA USD 9090000.00000000 0.128577033555 Long DBT CORP US N 2 2026-05-15 Fixed 0.03850000 N N N N N N WFRBS COML MTG TR 2011-C3 N/A 92935VAU2 2966000.00000000 PA USD 277024.40000000 0.003918479161 Long ABS-MBS CORP US N 2 2044-03-15 Fixed 0.05000000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T405 1074492.00000000 NS USD 27421035.84000000 0.387867485734 Long EP CORP US N 1 N N N AG MORTGAGE INVESTMENT TR INC 549300SNP0PBR2XTFR48 001228303 611362.00000000 NS USD 15351299.82000000 0.217142419370 Long EP CORP US N 1 N N N MERIT SECURITIES CORP N/A 589962CV9 1089697.11980000 PA USD 1129234.06000000 0.015972889507 Long ABS-CBDO CORP US N 2 2033-12-28 Variable 0.07880000 N N N N N N EQUITY LIFESTYLE PROPERTIES INC 529900PEQG66LENB6798 29472R108 3150996.00000000 NS USD 264053464.80000000 3.735006733122 Long EC CORP US N 1 N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 31635A303 96553352.39600000 NS USD 96563007.73000000 1.365872946659 Long STIV RF US N 1 N N GLADSTONE LD CORP 54930002B3Q17H38FG74 376549507 30000.00000000 NS USD 778500.00000000 0.011011795448 Long EP CORP US N 1 N N N BANK 2018-BNK12 N/A 06541KAJ7 1682000.00000000 PA USD 1490735.07000000 0.021086280871 Long ABS-MBS CORP US N 2 2061-05-15 Fixed 0.03000000 N N N N N N MHC TR 2021-MHC2 N/A 55293AAQ0 20000000.00000000 PA USD 20024024.00000000 0.283237580392 Long ABS-MBS CORP US N 2 2023-05-15 Variable 0.02493000 N N N N N N MORGAN STANLEY CAP I TR 2015-MS1 N/A 61765DAC2 10833000.00000000 PA USD 9803218.27000000 0.138665426232 Long ABS-MBS CORP US N 2 2048-05-15 Variable 0.04031227 N N N N N N CSAIL 2017-C8 COML MTG TR N/A 12595BAK7 4297000.00000000 PA USD 3689014.03000000 0.052180690948 Long ABS-MBS CORP US N 2 2050-06-15 Variable 0.04459125 N N N N N N WFRBS COML MTG TR 2011-C5 N/A 92936JAQ7 3500000.00000000 PA USD 3197961.90000000 0.045234813479 Long ABS-MBS CORP US N 2 2044-11-15 Variable 0.05250000 N N N N N N CD 2017-CD3 MTG TR N/A 12515GAM9 3353000.00000000 PA USD 2745894.08000000 0.038840364715 Long ABS-MBS CORP US N 2 2050-02-10 Fixed 0.03250000 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13 N/A 61763BAE4 3341000.00000000 PA USD 2737783.12000000 0.038725636093 Long ABS-MBS CORP US N 2 2046-11-15 Variable 0.04897503 N N N N N N UBS COML MTG TR 2012-C1 N/A 90269GAQ4 6268000.00000000 PA USD 3011643.63000000 0.042599362384 Long ABS-MBS CORP US N 3 2045-05-10 Variable 0.05000000 N N N N N N WILLSCOT MOBILE MINI HOLDINGS CORP 549300HJ4VIXF476Q166 971378104 461400.00000000 NS USD 13246794.00000000 0.187374419872 Long EC CORP US N 1 N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T868 98905.00000000 NS USD 2744613.75000000 0.038822254590 Long EP CORP US N 1 N N N CREST DARTMOUTH STR 03 1 LTD N/A 226065209 1220000.00000000 NS USD 122.00000000 0.000001725676 Long EP CORP KY N 3 N N N CLEAR CHANNEL OUTDOOR HOLDINGS INC N/A 18453HAC0 14000000.00000000 PA USD 14599480.00000000 0.206508012085 Long DBT CORP US N 2 2028-04-15 Fixed 0.07750000 N N N N N N GS MORTGAGE SECURITIES CORPORATION II N/A 36192BAN7 7432000.00000000 PA USD 6309813.34000000 0.089251604130 Long ABS-MBS CORP US N 2 2045-01-10 Variable 0.05000000 N N N N N N TPGI 2021-DGWD G N/A 87267HAU1 7308000.00000000 PA USD 7307978.81000000 0.103370543088 Long ABS-MBS CORP US N 2 2026-06-15 Variable 0.03943130 N N N N N N CSAIL 2017-CX9 COML MTG TR N/A 12595FAP7 2539000.00000000 PA USD 2107843.02000000 0.029815203818 Long ABS-MBS CORP US N 2 2050-09-15 Variable 0.04145954 N N N N N N SOTHERLY HOTELS INC 549300IYTT21F61LSR10 83600C301 67250.00000000 NS USD 1294562.50000000 0.018311441804 Long EP CORP US N 1 N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2016-C30 N/A 61766NAJ4 2726000.00000000 PA USD 2045122.35000000 0.028928026955 Long ABS-MBS CORP US N 2 2049-09-15 Fixed 0.03000000 N N N N N N PLAYA RESORTS HLDG B V 5493005SPBUMPZZCIZ96 72812NAD8 24784360.67000000 PA USD 23793729.77000000 0.336559646980 Long LON CORP NL N 2 2024-04-27 Variable 0.03750000 N N N N N N RLJ LODGING TRUST LP 549300RX5I8Z6I6LDZ74 74965LAA9 10000000.00000000 PA USD 10125000.00000000 0.143216992821 Long DBT CORP US N 2 2026-07-01 Fixed 0.03750000 N N N N N N NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST 19-1776 N/A 63875BAL9 3454000.00000000 PA USD 3331851.36000000 0.047128664919 Long ABS-MBS CORP US N 2 2036-10-15 Fixed 0.04298800 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 617459AF9 30091570.41830000 PA USD 127735.71000000 0.001806807334 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.00427304 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T306 1387346.00000000 NS USD 35668665.66000000 0.504529287288 Long EP CORP US N 1 N N N GREAT AJAX CORP 5493004ID2QQWNGDYC18 38983D300 1663364.00000000 NS USD 21091455.52000000 0.298336279882 Long EC CORP US N 1 N N N ASHFORD HOSPITALITY TRUST INC N/A 044103885 323909.00000000 NS USD 8424873.09000000 0.119168887788 Long EP CORP US N 1 N N N BROOKFIELD PROPERTY PARTNERS LP 5493004J5Z0TZW83NU62 N/A 34125.00000000 NS USD 867798.75000000 0.012274916281 Long EP CORP BM N 1 N N N SREIT TR 2021-FLWR N/A 78485GAN4 11469000.00000000 PA USD 11447235.28000000 0.161919863005 Long ABS-MBS CORP US N 2 2036-07-15 Variable 0.02023990 N N N N N N COMM 2014-CCRE17 MTG TR N/A 12631DAJ2 3098000.00000000 PA USD 2282111.96000000 0.032280218488 Long ABS-MBS CORP US N 3 2047-05-10 Variable 0.04848035 N N N N N N MARRIOTT OWNERSHIP RESORTS INC / ILG LLC N/A 57165PAB1 1319000.00000000 PA USD 1367882.14000000 0.019348539913 Long DBT CORP US N 2 2026-09-15 Fixed 0.06500000 N N N N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAQ5 5624050.00000000 PA USD 3606895.05000000 0.051019127159 Long ABS-MBS CORP US N 3 2049-07-15 Variable 0.05283724 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031U705 386473.00000000 NS USD 10125592.60000000 0.143225375082 Long EP CORP US N 1 N N N BROOKFIELD OFFICE PROPERTIES INC 36ZUFRRMJERSM4Q0S289 112900642 679025.00000000 NS 13105900.93000000 0.185381503152 Long EP CORP CA N 1 N N N TRICON AMERN HOMES 2018-SFR TR N/A 89613TAF5 8282000.00000000 PA USD 8717746.66000000 0.123311551686 Long ABS-CBDO CORP US N 2 2037-05-17 Fixed 0.04960000 N N N N N N CBL and ASSOCS LTD PARTNERSHIP 549300VS75TWHD9JTH89 12505JAD5 10317000.00000000 PA USD 5842001.25000000 0.082634454428 Long DBT CORP US N 2 2026-12-15 Fixed 0.05950000 Y Y N N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A 46637WAH6 4479000.00000000 PA USD 4278951.29000000 0.060525287524 Long ABS-MBS CORP US N 2 2045-06-15 Variable 0.04989325 N N N N N N HEALTHCARE TRUST INC 549300Z2NSUGF5NF2Y30 42226B204 330000.00000000 NS USD 8253300.00000000 0.116742005615 Long EP CORP US N 1 N N N AMERICAN HOMES 4 RENT 2015-SFR1 TR N/A 02666AAF5 2000000.00000000 PA USD 2200996.00000000 0.031132842304 Long ABS-CBDO CORP US N 2 2052-04-17 Fixed 0.05885000 N N N N N N CLEAR CHANNEL OUTDOOR HOLDINGS INC N/A 18453HAD8 17830000.00000000 PA USD 18508609.80000000 0.261802215987 Long DBT CORP US N 2 2029-06-01 Fixed 0.07500000 N N N N N N COMM 2012-CCRE2 MTG TR N/A 12624KAW6 4500000.00000000 PA USD 4285565.10000000 0.060618839127 Long ABS-MBS CORP US N 2 2045-08-15 Variable 0.04830613 N N N N N N OREGON CLEAN ENERGY LLC 549300F5O4JADXBZO874 68583LAF2 5636608.14000000 PA USD 5119900.27000000 0.072420416811 Long LON CORP US N 2 2026-03-01 Variable 0.04750000 N N N N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 75574U408 378550.00000000 NS USD 10027789.50000000 0.141841961169 Long EP CORP US N 1 N N N LGI HOMES INC 549300W02B4WNV8CV109 50187TAF3 13310000.00000000 PA USD 13501131.60000000 0.190971996784 Long DBT CORP US N 2 2029-07-15 Fixed 0.04000000 N N N N N N ASHFORD HOSPITALITY TRUST INC N/A 044103703 238068.00000000 NS USD 6249285.00000000 0.088395437529 Long EP CORP US N 1 N N N UBS-CITIGROUP COML MTG TR 2011-C1 N/A 90268TAN4 4746000.00000000 PA USD 4724606.46000000 0.066829030070 Long ABS-MBS CORP US N 2 2045-01-10 Variable 0.06230317 N N N N N N LONESTAR II GENERATION HOLDINGS LLC 5493008TLUD4K1PDBH71 54238DAB8 9742925.45800000 PA USD 9675991.56000000 0.136865818646 Long LON CORP US N 2 2026-04-18 Variable 0.05092000 N N N N N N COMM 2012-LC4 MTG TR N/A 126192AG8 1978000.00000000 PA USD 1780335.89000000 0.025182652086 Long ABS-MBS CORP US N 2 2044-12-10 Variable 0.05553363 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C9 549300PFVBG5704L7K74 61762DBB6 3302000.00000000 PA USD 3400530.03000000 0.048100117026 Long ABS-MBS CORP US N 2 2046-05-15 Variable 0.04022346 N N N N N N MRCD 2019-PARK G N/A 55348UBA5 10357000.00000000 PA USD 10063357.30000000 0.142345063723 Long ABS-MBS CORP US N 2 2036-12-15 Fixed 0.04250000 N N N N N N LEHMAN ABS MANUF HSG CNTRCT TR N/A 52519SAM5 534213.37750000 PA USD 398109.59000000 0.005631215633 Long ABS-CBDO CORP US N 2 2040-04-15 Fixed 0.07170000 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031UCG4 16925000.00000000 PA USD 17548009.25000000 0.248214628621 Long DBT CORP US N 2 2025-08-01 Fixed 0.04250000 N N N N N N AG MORTGAGE INVESTMENT TR INC 549300SNP0PBR2XTFR48 001228402 638138.00000000 NS USD 15774771.36000000 0.223132376951 Long EP CORP US N 1 N N N AMR HMS 15-SFR2 N/A 02666BAE6 8259000.00000000 PA USD 9338835.34000000 0.132096781615 Long ABS-CBDO CORP US N 2 2052-10-17 Fixed 0.06070000 N N N N N N BROOKFIELD INFRASTRUCTURE PARTNERS LP 549300WEH5R2OODI7Y90 N/A 182825.00000000 NS 3708961.81000000 0.052462850066 Long EP CORP BM N 1 N N N WF-RBS COML MTG TR 2012-C8 N/A 92936YAR2 2889500.00000000 PA USD 2404830.58000000 0.034016059645 Long ABS-MBS CORP US N 2 2045-08-15 Variable 0.04883441 N N N N N N OFFICE PROPERTIES INCOME TRUST N/A 81618TAD2 11045000.00000000 PA USD 11170100.53000000 0.157999822955 Long DBT CORP US N 2 2022-02-01 Fixed 0.04150000 N N N N N N ARLINGTON ASSET INVESTMENT CORP 549300LA9ZT7L8G7IT53 041356700 147125.00000000 NS USD 3694308.75000000 0.052255584170 Long EP CORP US N 1 N N N CONSECO FIN SECURITIZATNS CORP N/A 20846QJZ2 368987.36400000 PA USD 350064.14000000 0.004951618116 Long ABS-CBDO CORP US N 2 2033-03-01 Fixed 0.09163000 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027X100 920600.00000000 NS USD 260345680.00000000 3.682560531730 Long EC CORP US N 1 N N N JPMBB COML MTG SECS TR 2014-C23 N/A 46643AAQ6 8640000.00000000 PA USD 7679300.26000000 0.108622843477 Long ABS-MBS CORP US N 2 2047-09-15 Fixed 0.04709400 N N N N N N GS MORTGAGE SECURITIES CORPORATION II N/A 36192BAJ6 3560000.00000000 PA USD 3603736.74000000 0.050974453217 Long ABS-MBS CORP US N 2 2045-01-10 Variable 0.05759811 N N N N N N CHERRY HILL MORTGAGE INVESTMENT CORP N/A 164651200 248750.00000000 NS USD 6405312.50000000 0.090602429070 Long EP CORP US N 1 N N N JPMBB COML MTG SECS TR 2014-C26 N/A 46643TAL6 3398000.00000000 PA USD 3365138.96000000 0.047599514299 Long ABS-MBS CORP US N 2 2048-01-15 Variable 0.03878823 N N N N N N BAMLL COMMERCIAL MORTGAGE SECURITIES TRUST 2019-AHT N/A 05525DAJ5 7168000.00000000 PA USD 7141149.39000000 0.101010759597 Long ABS-MBS CORP US N 2 2034-03-15 Variable 0.02093000 N N N N N N BX 2021-SOAR N/A 05608WAQ7 16093000.00000000 PA USD 16183716.24000000 0.228916856550 Long ABS-MBS CORP US N 2 2038-06-15 Fixed 0.02443000 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 617459AJ1 4231070.24000000 PA USD 4035346.01000000 0.057079518078 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.05211300 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 867892804 180000.00000000 NS USD 4829400.00000000 0.068311322976 Long EP CORP US N 1 N N N LANDMARK INFRASTRUCTURE PARTNERS LP 549300I3H10A778Y4H45 51508J405 189650.00000000 NS USD 4855040.00000000 0.068673997909 Long EP CORP US N 2 N N N HOME PARTNERS AMER 2017-1 TR N/A 43730TAL7 6318500.00000000 PA USD 6310793.33000000 0.089265465979 Long ABS-CBDO CORP US N 2 2034-07-17 Variable 0.03628000 N N N N N N GREEN TREE FINANCIAL CORP N/A 393505TZ5 3294218.74280000 PA USD 3391962.82000000 0.047978934799 Long ABS-CBDO CORP US N 2 2028-03-15 Fixed 0.07530000 N N N N N N TPGI 2021-DGWD G N/A 87267HAQ0 16537000.00000000 PA USD 16575177.32000000 0.234454029754 Long ABS-MBS CORP US N 2 2026-06-15 Variable 0.02443130 N N N N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 681936BF6 2434000.00000000 PA USD 2743505.91000000 0.038806584317 Long DBT CORP US N 2 2027-04-01 Fixed 0.04500000 N N N N N N NEW YORK MORTGAGE TRUST INC 549300JFGR0M7ULHWG48 649604881 317918.00000000 NS USD 8081475.56000000 0.114311568125 Long EP CORP US N 1 N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T504 1241896.00000000 NS USD 31444806.72000000 0.444783274894 Long EP CORP US N 1 N N N FEDERAL NAT MTG ASN GTD REM PA N/A 31393DUL3 53905.96260000 PA USD 32059.29000000 0.000453475072 Long ABS-CBDO USGSE US N 2 2043-06-25 Variable 0.03427360 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6 N/A 61761DAQ5 2000000.00000000 PA USD 1988936.60000000 0.028133285803 Long ABS-MBS CORP US N 2 2045-11-15 Variable 0.04603493 N N N N N N CSMC 2020-NET N/A 126438AN0 7050000.00000000 PA USD 7224724.38000000 0.102192918485 Long ABS-MBS CORP US N 2 2037-08-15 Variable 0.03704200 N N N N N N DIAMONDROCK HOSPITALITY CO 529900KKD4BPVBUAQ734 252784400 441331.00000000 NS USD 13120770.63000000 0.185591833396 Long EP CORP US N 1 N N N AVALONBAY COMMUNITIES INC K9G90K85RBWD2LAGQX17 053484101 101200.00000000 NS USD 23056396.00000000 0.326130143252 Long EC CORP US N 1 N N N BX TRUST N/A 056058AN0 2500000.00000000 PA USD 2468775.50000000 0.034920553388 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.02329600 N N N N N N MORGAN STANLEY CAP I INC N/A 61745MHW6 85319.47950000 PA USD 86259.24000000 0.001220127304 Long ABS-MBS CORP US N 2 2032-07-15 Variable 0.07350000 N N N N N N TTN 2021 N/A 87303TAN7 17183000.00000000 PA USD 17279778.09000000 0.244420528857 Long ABS-MBS CORP US N 2 2038-03-15 Variable 0.02494000 N N N N N N ELLINGTON RESIDENTIAL MORTGAGE REIT 549300KA3MR2ZCRGA787 288578107 142800.00000000 NS USD 1589364.00000000 0.022481376057 Long EC CORP US N 1 N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 617459AL6 4440000.00000000 PA USD 2900777.65000000 0.041031175494 Long ABS-MBS CORP US N 3 2044-06-15 Variable 0.05211300 N N N N N N WELLS FARGO COML MTG TR 2012-LC5 N/A 94988HAP6 12819000.00000000 PA USD 13053628.72000000 0.184642118586 Long ABS-MBS CORP US N 2 2045-10-15 Variable 0.04757385 N N N N N N LAMAR ADVERTISING CO 529900Y8WW4MKVPTB543 512816109 335800.00000000 NS USD 35796280.00000000 0.506334377857 Long EC CORP US N 1 N N N GRANITE GENERATION LLC 549300XXYYGFHXPYVM94 38750BAB3 5508639.74000000 PA USD 5357152.15000000 0.075776318124 Long LON CORP US N 2 2026-11-01 Variable 0.04750000 N N N N N N GREEN ENERGY PARTNERS/STONEWALL LLC 549300BHYFK6M9HVNA29 39303NAC5 1900632.90000000 PA USD 1731951.73000000 0.024498263553 Long LON CORP US N 2 2021-11-13 Variable 0.06500000 N N N N N N CSMC 2020-NET N/A 126438AL4 9400000.00000000 PA USD 9809861.62000000 0.138759395675 Long ABS-MBS CORP US N 2 2037-08-15 Variable 0.03704200 N N N N N N CEDAR REALTY TRUST INC 54930056URX93R2RSN82 150602506 291600.00000000 NS USD 7491204.00000000 0.105962242913 Long EP CORP US N 1 N N N WASHINGTON PRIME GROUP LP 549300K4BNOIQ154O537 939648AE1 23181000.00000000 PA USD 14043977.04000000 0.198650484832 Long DBT CORP US N 2 2024-08-15 Variable 0.06450000 Y Y N N N N 2021-08-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer