0001752724-21-205845.txt : 20210924 0001752724-21-205845.hdr.sgml : 20210924 20210924101428 ACCESSION NUMBER: 0001752724-21-205845 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: 211275044 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 S000031548 Fidelity Series Real Estate Income Fund C000098199 Fidelity Series Real Estate Income Fund FSREX NPORT-P 1 primary_doc.xml NPORT-P false 0000754510 XXXXXXXX S000031548 C000098199 Fidelity Securities Fund 811-04118 0000754510 LIUMB3NDWOFJPXVROE85 245 Summer Street Boston 02210 1-800-FIDELITY Fidelity Series Real Estate Income Fund S000031548 549300CKO1IALL8IIC86 2021-07-31 2021-07-31 N 1053200025.44 2157757.16 1051042268.28 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 605000.00000000 0.00000000 0.00000000 0.00000000 USD N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 253868103 40100.00000000 NS USD 6181816.00000000 0.588160551346 Long EC CORP US N 1 N N N LIFE 2021-BMR MTG TR N/A 53218CAN0 2247000.00000000 PA USD 2255532.08000000 0.214599559700 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 1287000.00000000 PA USD 1257505.95000000 0.119643708721 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 935413.13000000 PA USD 936585.39000000 0.089110154583 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 1680000.00000000 PA USD 188562.53000000 0.017940527768 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 1021000.00000000 PA USD 1025143.32000000 0.097535879473 Long ABS-MBS CORP US N 2 2037-12-15 Variable 0.03343000 N N N N N N SERITAGE GROWTH PPTYS 5493003CJFC2MM82WB25 81752R308 1050.00000000 NS USD 26373.38000000 0.002509259693 Long EP CORP US N 1 N N N WELLS FARGO COML MTG TR 2012-LC5 N/A 94988HAT8 774000.00000000 PA USD 644371.56000000 0.061307863579 Long ABS-MBS CORP US N 2 2045-10-15 Variable 0.04757385 N N N N N N WFRBS COML MTG TR 2011-C5 N/A 92936JAJ3 1250000.00000000 PA USD 1251478.13000000 0.119070199911 Long ABS-MBS CORP US N 2 2044-11-15 Variable 0.05678874 N N N N N N EQUINIX INC 549300EVUN2BTLJ3GT74 29444U700 8100.00000000 NS USD 6645321.00000000 0.632260109850 Long EC CORP US N 1 N N N UBS COML MTG TR 2012-C1 N/A 90269GAS0 399000.00000000 PA USD 58392.09000000 0.005555636701 Long ABS-MBS CORP US N 3 2045-05-10 Variable 0.05000000 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031U101 390487.00000000 NS USD 9461500.01000000 0.900201666055 Long EC CORP US N 1 N N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 709102602 9575.00000000 NS USD 102452.50000000 0.009747705024 Long EP CORP US N 1 N N N VEREIT OPER PARTNERSHIP LP 5493005TQOUJE1LCS698 92340LAE9 1000000.00000000 PA USD 1087171.24000000 0.103437442318 Long DBT CORP US N 2 2029-12-15 Fixed 0.03100000 N N N N N N BANK 2017-BNK4 N/A 06541FAJ8 625000.00000000 PA USD 599644.00000000 0.057052320167 Long ABS-MBS CORP US N 2 2050-05-15 Fixed 0.03357000 N N N N N N SUMMIT HOTEL PROPERTIES INC 254900OBQWJK6X20LS71 866082506 42350.00000000 NS USD 1078654.50000000 0.102627128570 Long EP CORP US N 1 N N N SERVICE PROPERTIES TRUST 529900IS770AG1K9QG27 44106MAS1 1556000.00000000 PA USD 1583230.00000000 0.150634284441 Long DBT CORP US N 2 2024-03-15 Fixed 0.04650000 N N N N N N BRIXMOR OPERATING PARTNERSHIP LP 549300CJHBL7JBUA6503 11120VAA1 1753000.00000000 PA USD 1912822.01000000 0.181992872002 Long DBT CORP US N 2 2025-02-01 Fixed 0.03850000 N N N N N N WFRBS COML MTG TR 2013-C11 N/A 92937EAJ3 65000.00000000 PA USD 63962.76000000 0.006085650589 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 3695000.00000000 PA USD 4006864.95000000 0.381227765136 Long DBT CORP US N 2 2025-02-01 Fixed 0.04500000 N N N N N N HOWARD HUGHES CORP 549300BVHY25JZC1KI49 44267DAD9 1345000.00000000 PA USD 1424018.75000000 0.135486344648 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 1000000.00000000 PA USD 767954.20000000 0.073065967295 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 312649.00000000 NS USD 7816225.00000000 0.743664192762 Long EP CORP US N 1 N N N BROOKFIELD RESIDENTIAL PPTYS INC / BROOKFIELD RESIDENTIAL US CORP N/A 11283YAD2 255000.00000000 PA USD 254417.33000000 0.024206193954 Long DBT CORP CA N 2 2030-02-15 Fixed 0.04875000 N N N N N N BHP TRUST 2019-BXHP N/A 05550TAL3 1050000.00000000 PA USD 1049199.17000000 0.099824640898 Long ABS-MBS CORP US N 2 2036-08-15 Variable 0.03030980 N N N N N N CENTURY CMNTYS INC 5299002QMB2O7ZL1CA26 156504AL6 1770000.00000000 PA USD 1879722.30000000 0.178843644706 Long DBT CORP US N 2 2027-06-01 Fixed 0.06750000 N N N N N N WP CAREY INC 54930042CRNE713E3Q67 92936UAE9 459000.00000000 PA USD 519727.10000000 0.049448734431 Long DBT CORP US N 2 2026-10-01 Fixed 0.04250000 N N N N N N DBCCRE 2014-ARCP MORTGAGE TRUST N/A 23305MAL9 2168000.00000000 PA USD 2197961.54000000 0.209122088267 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 1427000.00000000 PA USD 1523322.50000000 0.144934466098 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 8001000.00000000 PA USD 7716262.49000000 0.734153394480 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 6400.00000000 NS USD 1114496.00000000 0.106037219780 Long EC CORP US N 1 N N N WILLIAMS SCOTSMAN INTL INC 549300V3TCHCBOBTGH07 96950GAE2 750000.00000000 PA USD 772500.00000000 0.073498471309 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 69000.00000000 PA USD 66020.54000000 0.006281435294 Long ABS-MBS CORP US N 2 2030-07-15 Variable 0.03343000 N N N N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 64828T508 129446.00000000 NS USD 3047158.84000000 0.289917820811 Long EP CORP US N 1 N N N EXTENDED STAY AMER TR 2021-ESH N/A 30227FAN0 3283000.00000000 PA USD 3316936.37000000 0.315585440291 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 33250.00000000 NS USD 908390.00000000 0.086427542204 Long EP CORP US N 1 N N N HEALTHCARE TR AMER INC 549300L0I14L7I0VLX84 42225P501 90350.00000000 NS USD 2583106.50000000 0.245766186380 Long EC CORP US N 1 N N N VB-S1 ISSUER LLC N/A 91823AAJ0 2044000.00000000 PA USD 2085257.12000000 0.198398978131 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 2496000.00000000 PA USD 2528501.41000000 0.240570858690 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 31000.00000000 PA USD 29653.61000000 0.002821352755 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 16575.00000000 NS USD 434596.50000000 0.041349098234 Long EP CORP US N 1 N N N PROGRESS RESIDENTIAL TRUST 2021-SFR6 N/A 74333HAN5 1449000.00000000 PA USD 1460579.39000000 0.138964857463 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 659000.00000000 PA USD 717656.39000000 0.068280449955 Long DBT CORP US N 2 2024-04-01 Fixed 0.04950000 N N N N N N XHR LP 549300M88BPT83ZL2164 98372MAA3 750000.00000000 PA USD 799830.00000000 0.076098747323 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 467530.62000000 PA USD 465812.96000000 0.044319146247 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.02943130 N N N N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 903002509 49775.00000000 NS USD 1315055.50000000 0.125119183089 Long EP CORP US N 1 N N N REDWOOD TRUST INC DRBV4N1ERQLEMIF11G78 758075AD7 12460000.00000000 PA USD 12709200.00000000 1.209199704289 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 173400.00000000 NS USD 4501464.00000000 0.428285725118 Long EP CORP US N 1 N N N OFFICE PROPERTIES INCOME TRUST N/A 81618TAE0 946000.00000000 PA USD 1014331.36000000 0.096507190111 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 3629000.00000000 PA USD 2050385.00000000 0.195081117275 Long DBT CORP US N 2 2023-12-01 Fixed 0.05250000 Y Y N N N N EASTERLY GOVERNMENT PROPERTIES INC 549300ERMCEFC6S8HL77 27616P103 92100.00000000 NS USD 2090670.00000000 0.198913979303 Long EC CORP US N 1 N N N LEXINGTON CORP PPTYS TR REIT 549300S4MH2ICXDBFV43 529043101 603422.00000000 NS USD 7934999.30000000 0.754964813449 Long EC CORP US N 1 N N N WFRBS COML MTG TR 2011-C3 N/A 92935VAS7 3141501.56000000 PA USD 1530539.56000000 0.145621123544 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 1157800.00800000 PA USD 1160341.38000000 0.110399116669 Long ABS-MBS CORP US N 2 2035-11-15 Variable 0.03093000 N N N N N N CSMC 2019-ICE4 N/A 12653VAL0 3233000.00000000 PA USD 3250647.33000000 0.309278458926 Long ABS-MBS CORP US N 2 2036-05-15 Variable 0.02743000 N N N N N N ADAMS HOMES INC N/A 00623PAA9 1550000.00000000 PA USD 1623625.00000000 0.154477612271 Long DBT CORP US N 2 2025-02-15 Fixed 0.07500000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T108 313799.00000000 NS USD 2184041.04000000 0.207797641057 Long EC CORP US N 1 N N N AMR HMS 15-SFR2 N/A 02666BAG1 908034.11020000 PA USD 9.08000000 0.000000863904 Long ABS-CBDO CORP US N 3 2052-10-17 Variable 0.00000000 N N N N N N WFRBS COML MTG TR 2013-C13 N/A 92937UAJ7 45000.00000000 PA USD 44467.74000000 0.004230823187 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 30350.00000000 NS USD 805173.36000000 0.076607134108 Long EP CORP US N 1 N N N CRSNT TR 2021-MOON N/A 22877LAG2 1000000.00000000 PA USD 1000443.50000000 0.095185848390 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 28480.00000000 NS USD 1946892.80000000 0.185234491395 Long EC CORP US N 1 N N N BLACKSTONE MTG TR INC 549300OLDJ20R2Y2UW20 09257WAC4 1644000.00000000 PA USD 1692333.60000000 0.161014799411 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 WP CAREY INC 54930042CRNE713E3Q67 92936UAC3 422000.00000000 PA USD 461986.05000000 0.043955040053 Long DBT CORP US N 2 2025-02-01 Fixed 0.04000000 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272XAA0 4363000.00000000 PA USD 4434116.90000000 0.421878076060 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 485181.00000000 NS USD 12250820.25000000 1.165587780789 Long EP CORP US N 1 N N N GS MTG SECS TR 2012-GCJ9 N/A 36192PAK2 1569000.00000000 PA USD 1585297.99000000 0.150831040562 Long ABS-MBS CORP US N 2 2045-11-10 Variable 0.04737800 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250N790 19600.00000000 NS USD 409640.00000000 0.038974645679 Long EP CORP CA N 1 N N N CUSHMAN and WAKEFIELD US BORROWER LLC N/A 23340DAP7 4688561.24600000 PA USD 4614903.95000000 0.439078816264 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 1510000.00000000 PA USD 1057681.31000000 0.100631662676 Long ABS-MBS CORP US N 2 2046-11-10 Fixed 0.03500000 N N N N N N DCP MIDSTREAM LP 52990024YYS3MLGW0E91 23311P209 34150.00000000 NS USD 860067.75000000 0.081829986857 Long EP CORP US N 1 N N N MERIT 2021 N/A 55293BAP0 250000.00000000 PA USD 250783.35000000 0.023860443825 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.02850000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V704 53702.00000000 NS USD 1369401.00000000 0.130289812439 Long EP CORP US N 1 N N N WFRBS COML MTG TR 2013-C11 N/A 92937EAL8 53000.00000000 PA USD 45762.45000000 0.004354006625 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 924000.00000000 PA USD 56624.57000000 0.005387468392 Long ABS-MBS CORP US N 2 2027-06-10 Variable 0.03804600 N N N N N N SERVICE PROPERTIES TRUST 529900IS770AG1K9QG27 44106MAQ5 859000.00000000 PA USD 870587.91000000 0.082830913301 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 1010085.44000000 PA USD 1012610.65000000 0.096343475477 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 910000.00000000 PA USD 968658.33000000 0.092161691231 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 735000.00000000 PA USD 664148.79000000 0.063189541471 Long ABS-MBS CORP US N 2 2033-09-15 Variable 0.03143000 N N N N N N KESTREL ACQUISITION LLC 549300ER0JUHJLPPMH08 49254YAB1 1455000.00000000 PA USD 1234320.15000000 0.117437727030 Long LON CORP US N 2 2025-06-01 Variable 0.05250000 N N N N N N LIGHTSTONE HOLDCO LLC 549300VXK6UGDG7H3G98 53226GAH4 58283.65000000 PA USD 44862.09000000 0.004268343087 Long LON CORP US N 2 2024-01-30 Variable 0.04750000 N N N N N N GLADSTONE COMMERCIAL CORP 529900EVVV534W8R0T32 376536702 41125.00000000 NS USD 1098864.11000000 0.104549944675 Long EP CORP US N 1 N N N MORGAN STANLEY CAP I TR 2015-UBS8 N/A 61691AAQ6 642000.00000000 PA USD 377689.43000000 0.035934751760 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 146500.00000000 NS USD 3135100.00000000 0.298284863950 Long EC CORP US N 1 N N N PENNYMAC CORP EWN0I878407TKQNXZ933 70932AAE3 250000.00000000 PA USD 253125.00000000 0.024083236958 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 117050.00000000 NS USD 3078415.00000000 0.292891646026 Long EP CORP US N 1 N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187B200 292032.00000000 NS USD 7721326.08000000 0.734635162926 Long EP CORP US N 1 N N N URSTADT BIDDLE PPTYS INC 549300XXD0YL0AER3Z82 917286874 28775.00000000 NS USD 761962.00000000 0.072495847502 Long EP CORP US N 1 N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAL6 83000.00000000 PA USD 80731.87000000 0.007681124959 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 1756000.00000000 PA USD 1787492.28000000 0.170068543763 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 620000.00000000 PA USD 246592.48000000 0.023461709147 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 500000.00000000 PA USD 500940.30000000 0.047661289666 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.04455000 N N N N N N LIGHTSTONE HOLDCO LLC 549300VXK6UGDG7H3G98 53226GAG6 1033368.89000000 PA USD 795404.70000000 0.075677708119 Long LON CORP US N 2 2024-01-30 Variable 0.04750000 N N N N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 75574U200 73475.00000000 NS USD 1933862.00000000 0.183994693492 Long EP CORP US N 2 N N N CAPSTEAD MORTGAGE CORP 549300W6CQE2GR8QBV24 14067E605 132416.00000000 NS USD 3356745.60000000 0.319373035824 Long EP CORP US N 1 N N N CONSECO FIN SECURITIZATNS CORP N/A 20846QJT6 1216000.00000000 PA USD 1238402.00000000 0.117826089147 Long ABS-CBDO CORP US N 2 2033-12-01 Fixed 0.09546000 N N N N N N BX TRUST N/A 05608WAS3 1000000.00000000 PA USD 1007462.60000000 0.095853671199 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 1308000.00000000 PA USD 1179764.99000000 0.112247149863 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 1310000.00000000 PA USD 1299808.20000000 0.123668499281 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 4354000.00000000 PA USD 4500947.50000000 0.428236583421 Long DBT CORP US N 2 2025-08-01 Fixed 0.06750000 N N N N N N SAUL CENTERS INC N/A 804395804 15958.00000000 NS USD 422887.00000000 0.040235013639 Long EP CORP US N 1 N N N HILTON GRAND VACATIONS BORROWER ESCROW LLC N/A 43284MAB4 1000000.00000000 PA USD 980882.50000000 0.093324743409 Long DBT CORP US N 2 2031-07-01 Fixed 0.04875000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 19624RAA4 3687000.00000000 PA USD 3762251.08000000 0.357954308170 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 47683.00000000 NS USD 1243782.45000000 0.118338004810 Long EP CORP US N 1 N N N CSMC 2019-SKLZ N/A 12655GAL1 1430000.00000000 PA USD 1410844.58000000 0.134232905999 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 1011000.00000000 PA USD 1080353.42000000 0.102788770024 Long DBT CORP US N 2 2029-10-15 Fixed 0.03900000 N N N N N N SOTHERLY HOTELS INC 549300IYTT21F61LSR10 83600C400 19300.00000000 NS USD 351260.00000000 0.033420159264 Long EP CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2011-C3 N/A 46635TBD3 3467000.00000000 PA USD 1261189.90000000 0.119994213178 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 1260000.00000000 PA USD 887255.08000000 0.084416688726 Long ABS-MBS CORP US N 2 2049-08-15 Fixed 0.03000000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2011-C4 N/A 46636DAY2 1390000.00000000 PA USD 1393283.32000000 0.132562063586 Long ABS-MBS CORP US N 2 2046-07-15 Variable 0.05527870 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031U408 76856.00000000 NS USD 2031304.08000000 0.193265688859 Long EP CORP US N 1 N N N CITIGROUP COMMERCIAL MORTGAGE TRUST 2016-C3 N/A 17325GAL0 2990000.00000000 PA USD 2428277.97000000 0.231035234574 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 670000.00000000 PA USD 667320.00000000 0.063491261972 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 7000.00000000 NS USD 170310.00000000 0.016203915402 Long EP CORP BM N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031U804 303323.00000000 NS USD 8031993.04000000 0.764193152112 Long EP CORP US N 1 N N N GLOBAL NET LEASE INC 549300NUYANCT5SU8Z65 379378409 47200.00000000 NS USD 1266848.00000000 0.120532545477 Long EP CORP US N 1 N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q604 230700.00000000 NS USD 6009735.00000000 0.571788136535 Long EP CORP US N 1 N N N VENTAS INC ORQTRC074CWLT3DKHT41 92276F100 73655.00000000 NS USD 4403095.90000000 0.418926624825 Long EC CORP US N 1 N N N SERVICE PROPERTIES TRUST 529900IS770AG1K9QG27 81761LAA0 1480000.00000000 PA USD 1668700.00000000 0.158766212393 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 34000.00000000 PA USD 34182.81000000 0.003252277385 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 27461.00000000 NS USD 724970.40000000 0.068976331578 Long EP CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A 46639YAE7 482000.00000000 PA USD 239664.19000000 0.022802526333 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 503172.00000000 NS USD 12881203.20000000 1.225564716924 Long EP CORP US N 1 N N N CSMC 2017-CHOP A N/A 12651QAQ2 2493000.00000000 PA USD 2269166.99000000 0.215896834835 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 875000.00000000 PA USD 940406.25000000 0.089473685158 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 651000.00000000 PA USD 630041.97000000 0.059944494052 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 1229000.00000000 PA USD 1133495.64000000 0.107844914920 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 3326400.00000000 PA USD 3279630.82000000 0.312036054017 Long LON CORP US N 2 2027-06-17 Variable 0.05750000 N N N N N N GRANITE POINT MORTGAGE TRUST INC 529900VX2HQZ76AYIE02 38741LAC1 1901000.00000000 PA USD 1900049.50000000 0.180777648753 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 81700.00000000 NS USD 2183024.00000000 0.207700876157 Long EP CORP US N 1 N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAJ1 2446000.00000000 PA USD 2435832.22000000 0.231753973509 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.05283724 N N N N N N MATTAMY GROUP CORP 5493008TNY7A82WCXU31 57701RAJ1 2855000.00000000 PA USD 2968743.20000000 0.282457070433 Long DBT CORP CA N 2 2027-12-15 Fixed 0.05250000 N N N N N N GLOBAL PARTNERS LP 549300PCHWTW9P4DU444 37946R208 1825.00000000 NS USD 50046.98000000 0.004761652457 Long EP CORP US N 1 N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 74460D109 5500.00000000 NS USD 1718640.00000000 0.163517686383 Long EC CORP US N 1 N N N COMM 2018-HCLV MTG TR N/A 20048KAN7 735000.00000000 PA USD 629189.03000000 0.059863342225 Long ABS-MBS CORP US N 2 2033-09-15 Variable 0.05149327 N N N N N N PENNYMAC CORP EWN0I878407TKQNXZ933 70932AAD5 7066000.00000000 PA USD 7114578.75000000 0.676907005999 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 1817000.00000000 PA USD 1108800.08000000 0.105495289148 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 1500000.00000000 PA USD 1246832.85000000 0.118628231007 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 573000.00000000 PA USD 551693.51000000 0.052490135425 Long ABS-MBS CORP US N 2 2062-12-15 Variable 0.03294300 N N N N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q208 54700.00000000 NS USD 805184.00000000 0.076608146437 Long EC CORP US N 1 N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q500 319899.00000000 NS USD 8451731.58000000 0.804128609768 Long EP CORP US N 1 N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 75574U606 120000.00000000 NS USD 3118800.00000000 0.296734022419 Long EP CORP US N 1 N N N NATIONAL STORAGE AFFILIATES TRUST N/A 637870205 12325.00000000 NS USD 331419.25000000 0.031532437847 Long EP CORP US N 1 N N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 709102701 27400.00000000 NS USD 281946.00000000 0.026825372157 Long EP CORP US N 1 N N N VEREIT OPER PARTNERSHIP LP 5493005TQOUJE1LCS698 92340LAA7 1593000.00000000 PA USD 1848121.24000000 0.175837004445 Long DBT CORP US N 2 2026-06-01 Fixed 0.04875000 N N N N N N BX TRUST 2019 N/A 056054AL3 1674737.27000000 PA USD 1679467.06000000 0.159790629804 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.02743000 N N N N N N VEREIT OPER PARTNERSHIP LP 5493005TQOUJE1LCS698 03879QAF1 1757000.00000000 PA USD 1912132.33000000 0.181927253328 Long DBT CORP US N 2 2024-02-06 Fixed 0.04600000 N N N N N N PROGRESS RESIDENTIAL 2020-SFR1 TR N/A 74331CAH1 588000.00000000 PA USD 599329.53000000 0.057022400343 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 939000.00000000 PA USD 941046.55000000 0.089534605638 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 982411.26100000 PA USD 987953.83000000 0.093997535571 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 27525.00000000 NS USD 706566.75000000 0.067225341104 Long EP CORP US N 1 N N N CAESARS RESORT COLLECTION LLC 549300V3UCT773B1KR38 12769LAB5 1482014.72000000 PA USD 1464200.90000000 0.139309421151 Long LON CORP US N 2 2024-12-22 Variable 0.02842000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V605 55192.00000000 NS USD 1396495.58000000 0.132867689734 Long EP CORP US N 1 N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 681936BK5 1616000.00000000 PA USD 1848223.93000000 0.175846774747 Long DBT CORP US N 2 2028-01-15 Fixed 0.04750000 N N N N N N COMPASS POWER GENERATION LLC 5493001FXZ2XUTES8E29 20451VAD5 878648.10000000 PA USD 865626.54000000 0.082358870439 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 648000.00000000 PA USD 686880.00000000 0.065352271809 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 1192000.00000000 PA USD 1128450.43000000 0.107364895214 Long ABS-MBS CORP US N 2 2050-05-10 Fixed 0.03300000 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X409 195649.00000000 NS USD 4934541.69000000 0.469490318222 Long EP CORP US N 1 N N N KREF 2018-FL1 LTD / KREF 2018-FL1 LLC 549300N45646UZ8P3S07 48275PAJ0 440000.00000000 PA USD 440550.44000000 0.041915577831 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 537000.00000000 PA USD 539539.96000000 0.051333802291 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 26500.00000000 NS USD 666740.00000000 0.063436078654 Long EP CORP US N 1 N N N TRICON AMERN HOMES 2017-SFR1 TR N/A 89613DAF0 1632000.00000000 PA USD 1651223.82000000 0.157103464801 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 1320000.00000000 PA USD 53454.32000000 0.005085839229 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 500000.00000000 PA USD 502251.40000000 0.047786032508 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 129625.00000000 NS USD 3417277.95000000 0.325132304678 Long EP CORP US N 1 N N N WP GLIMCHER MALL TR 15-WPG N/A 92939VAL8 1168000.00000000 PA USD 1031229.30000000 0.098114921837 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 52384.00000000 NS USD 1388176.00000000 0.132076134509 Long EP CORP US N 1 N N N QTS RLTY TR INC 5493006PA4CJK4OG2J54 74736A202 32825.00000000 NS USD 837365.75000000 0.079670035665 Long EP CORP US N 1 N N N BANK 2017-BNK7 N/A 06650AAW7 1848000.00000000 PA USD 1336943.55000000 0.127201692105 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 1917000.00000000 PA USD 1675962.55000000 0.159457197924 Long ABS-MBS CORP US N 2 2045-05-15 Variable 0.05354027 N N N N N N LANDMARK INFRASTRUCTURE PARTNERS LP 549300I3H10A778Y4H45 51508J306 22125.00000000 NS USD 564187.50000000 0.053678859264 Long EP CORP US N 1 N N N ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO N/A 045086AH8 3780000.00000000 PA USD 4205250.00000000 0.400102843331 Long DBT CORP US N 2 2027-04-01 Fixed 0.09875000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V506 55989.00000000 NS USD 1408123.35000000 0.133973998239 Long EP CORP US N 1 N N N DIVERSIFIED HEALTHCARE TR N/A 81721MAM1 5067000.00000000 PA USD 5117670.00000000 0.486913814453 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 3430000.00000000 PA USD 3497330.90000000 0.332748834708 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 1467000.00000000 PA USD 1549225.35000000 0.147398957849 Long DBT CORP CA N 2 2027-09-15 Fixed 0.06250000 N N N N N N VICI PROPERTIES LP / VICI NOTE CO INC N/A 92564RAB1 1095000.00000000 PA USD 1171650.00000000 0.111475060077 Long DBT CORP US N 2 2029-12-01 Fixed 0.04625000 N N N N N N NATIXIS COML MTG SECS TR 2018-FL1 N/A 63874MBC5 315000.00000000 PA USD 299380.66000000 0.028484169384 Long ABS-MBS CORP US N 2 2035-06-15 Variable 0.02843130 N N N N N N DBGS 2018-C1 MTG TR N/A 23307DBE2 1000000.00000000 PA USD 1092498.50000000 0.103944297291 Long ABS-MBS CORP US N 2 2051-10-15 Variable 0.04634638 N N N N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923AP3 4274000.00000000 PA USD 4744140.00000000 0.451374806054 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 100525.00000000 NS USD 2521167.00000000 0.239873036136 Long EP CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 46521HAB1 2393868.83000000 PA USD 2380415.29000000 0.226481404396 Long LON CORP US N 2 2023-06-28 Variable 0.02848810 N N N N N N MORGAN STANLEY CAP I TR 2011-C3 N/A 61760RAS1 979600.00000000 PA USD 443804.84000000 0.042225213332 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.05283724 N N N N N N DCP MIDSTREAM LP 52990024YYS3MLGW0E91 23311P308 36975.00000000 NS USD 924005.25000000 0.087913234118 Long EP CORP US N 1 N N N COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR N/A 12515DAV6 1006000.00000000 PA USD 1099744.31000000 0.104633690117 Long ABS-MBS CORP US N 2 2050-05-10 Variable 0.04349700 N N N N N N HERSHA HOSPITALITY TR 549300DNC58BIN1VO064 427825401 550.00000000 NS USD 13513.50000000 0.001285723743 Long EP CORP US N 1 N N N CEDAR REALTY TRUST INC 54930056URX93R2RSN82 150602407 40856.00000000 NS USD 1041010.88000000 0.099045577082 Long EP CORP US N 1 N N N MID AMERICA APTS LP 549300FXWGE3QSYCUJ38 59523UAL1 356000.00000000 PA USD 383833.12000000 0.036519284864 Long DBT CORP US N 2 2024-06-15 Fixed 0.03750000 N N N N N N JPMCC COML MTG SECS TR 2016-JP4 N/A 46645UAC1 1924000.00000000 PA USD 1672600.35000000 0.159137305937 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 1000000.00000000 PA USD 1025770.00000000 0.097595504096 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 749000.00000000 PA USD 755694.19000000 0.071899505168 Long ABS-CBDO CORP US N 2 2038-07-17 Fixed 0.04184954 N N N N N N CENTERSPACE 5493002LG2SH9EEHT720 15202L206 57700.00000000 NS USD 1524434.00000000 0.145040218267 Long EP CORP US N 1 N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A 46637WAQ6 1078000.00000000 PA USD 527863.29000000 0.050222841262 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 202000.00000000 PA USD 227957.00000000 0.021688661520 Long DBT CORP US N 2 2027-06-15 Fixed 0.05875000 N N N N N N NEW HOME CO INC 549300PLCE8TB3TVRQ85 645370AC1 1495000.00000000 PA USD 1590650.10000000 0.151340259854 Long DBT CORP US N 2 2025-10-15 Fixed 0.07250000 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 867892705 16950.00000000 NS USD 426423.02000000 0.040571443496 Long EP CORP US N 1 N N N EG GLOBAL FINANCE PLC 549300TL8Q5207VYET27 28228PAB7 305000.00000000 PA USD 319487.50000000 0.030397207575 Long DBT CORP GB N 2 2025-10-30 Fixed 0.08500000 N N N N N N HILTON USA TR 2016-SFP N/A 43289VAS2 3277000.00000000 PA USD 3323364.96000000 0.316197079822 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 16193.00000000 NS USD 408873.25000000 0.038901694283 Long EP CORP US N 1 N N N INDEPENDENCE PLAZA TR 2018-INDP N/A 45378YAS3 504000.00000000 PA USD 498434.03000000 0.047422833985 Long ABS-MBS CORP US N 2 2035-07-10 Fixed 0.04996000 N N N N N N RWT HOLDINGS INC Z31FN4C0IQMCYFAEUP31 749772AD1 11771000.00000000 PA USD 11962867.30000000 1.138190885469 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 28400.00000000 NS USD 957932.00000000 0.091141149020 Long EC CORP US N 1 N N N CHC COML MTG TR 2019-CHC N/A 162665AQ6 992753.79000000 PA USD 930015.82000000 0.088485101700 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 106075.00000000 NS USD 2813109.00000000 0.267649464241 Long EP CORP US N 1 N N N TAH 2017 N/A 89613FAF5 628000.00000000 PA USD 649061.36000000 0.061754068279 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 715000.00000000 PA USD 655743.09000000 0.062389792474 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 2732000.00000000 PA USD 2703101.18000000 0.257182918478 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 759236.00000000 PA USD 387225.54000000 0.036842052093 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05184114 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X508 415300.00000000 NS USD 9634960.00000000 0.916705283010 Long EP CORP US N 1 N N N HOME PARTNERS AMER 2018-1 TR N/A 43730WAL0 604000.00000000 PA USD 602588.69000000 0.057332488729 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 677000.00000000 PA USD 31297.44000000 0.002977752745 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 2042000.00000000 PA USD 2215570.00000000 0.210797421461 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 1000000.00000000 PA USD 889523.40000000 0.084632504975 Long ABS-MBS CORP US N 2 2044-11-15 Variable 0.05250000 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q872 144800.00000000 NS USD 3670680.00000000 0.349241901185 Long EP CORP US N 1 N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 75574U887 5600.00000000 NS USD 142800.00000000 0.013586513531 Long EP CORP US N 1 N N N VERITAS MULTIFAMILY PORTFOLIO POOL A N/A N/A 5360000.00000000 PA USD 5373400.00000000 0.511244900625 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 805000.00000000 PA USD 77748.51000000 0.007397277192 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 3930000.00000000 PA USD 2220450.00000000 0.211261722483 Long DBT CORP US N 2 2024-10-15 Fixed 0.04600000 Y Y N N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 76169C308 50000.00000000 NS USD 1312500.00000000 0.124876043486 Long EP CORP US N 1 N N N EXTENDED STAY AMER TR 2021-ESH N/A 30227FAL4 881000.00000000 PA USD 889279.29000000 0.084609279458 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 3499000.00000000 PA USD 3542706.36000000 0.337066021692 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 1891000.00000000 PA USD 1823899.95000000 0.173532502454 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 235110.00000000 NS USD 6131668.80000000 0.583389363591 Long EP CORP US N 1 N N N EG GLOBAL FINANCE PLC 549300TL8Q5207VYET27 28228PAA9 1250000.00000000 PA USD 1279687.50000000 0.121754142399 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 0.097512795720 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 1267000.00000000 PA USD 1389956.05000000 0.132245494967 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 3292000.00000000 PA USD 3303745.20000000 0.314330384201 Long ABS-MBS CORP US N 2 2046-11-10 Variable 0.05310638 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V886 104200.00000000 NS USD 2639386.00000000 0.251120823553 Long EP CORP US N 1 N N N WFRBS COML MTG TR 2011-C4 N/A 92936CBD0 45000.00000000 PA USD 3539.38000000 0.000336749539 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 113725.00000000 PA USD 105828.44000000 0.010068904286 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 492000.00000000 PA USD 469894.00000000 0.044707431297 Long ABS-MBS CORP US N 2 2045-05-10 Variable 0.05550568 N N N N N N MORGAN STANLEY CAP I TR 2016-BNK2 N/A 61690YAC6 2346000.00000000 PA USD 2103580.31000000 0.200142313347 Long ABS-MBS CORP US N 2 2049-11-15 Fixed 0.03000000 N N N N N N SG COML MTG SECS TR 2019-PRES N/A 78430EAN5 2000000.00000000 PA USD 1885933.80000000 0.179434629502 Long ABS-MBS CORP US N 2 2039-09-15 Variable 0.03477062 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q609 130650.00000000 NS USD 3396900.00000000 0.323193472091 Long EP CORP US N 1 N N N DIVERSIFIED HEALTHCARE TR N/A 81721MAK5 8480000.00000000 PA USD 8755600.00000000 0.833039761029 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 2696000.00000000 PA USD 2667355.00000000 0.253781896361 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 4588.84980000 PA USD 4811.14000000 0.000457749430 Long ABS-CBDO CORP US N 2 2027-06-15 Variable 0.07750000 N N N N N N BX TR 2018-IND N/A 056059AS7 1190700.00500000 PA USD 1192940.55000000 0.113500720760 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 5000000.00000000 PA USD 5053372.50000000 0.480796315477 Long ABS-MBS CORP US N 2 2035-11-21 Variable 0.05785000 N N N N N N HERSHA HOSPITALITY TR 549300DNC58BIN1VO064 427825609 42250.00000000 NS USD 993720.00000000 0.094546150044 Long EP CORP US N 1 N N N GS MTG SECS TR 2016-GS2 N/A 36252TAA3 1964000.00000000 PA USD 1878604.49000000 0.178737292180 Long ABS-MBS CORP US N 2 2049-05-10 Fixed 0.02753000 N N N N N N MHC COML MTG TR 2021-MHC N/A 55316VAL8 1000000.00000000 PA USD 1006887.90000000 0.095798992142 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 4330000.00000000 PA USD 4616626.52000000 0.439242707865 Long ABS-MBS CORP US N 2 2041-12-09 Variable 0.04075457 N N N N N N MSJP 2015-HAUL N/A 553697AN3 1000000.00000000 PA USD 796430.20000000 0.075775277934 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 4821000.00000000 PA USD 5100127.90000000 0.485244794992 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 728000.00000000 PA USD 708942.71000000 0.067451398615 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05420067 N N N N N N APARTMENT INCOME REIT CORP N/A 03750L109 64924.00000000 NS USD 3417599.36000000 0.325162884799 Long EC CORP US N 1 N N N HOWARD HUGHES CORP 549300BVHY25JZC1KI49 44267DAE7 3000000.00000000 PA USD 2972550.00000000 0.282819263288 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 15199.99730000 PA USD 15228.35000000 0.001448880835 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 515600.00000000 NS USD 13457160.00000000 1.280363350374 Long EP CORP US N 1 N N N VEREIT INC 5493002H54FNIBW75H44 92339V209 95774.00000000 NS USD 2393392.26000000 0.227716080716 Long EP CORP US N 1 N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q307 38500.00000000 NS USD 979825.00000000 0.093224128997 Long EP CORP US N 1 N N N BRAEMAR HOTELS and RESORTS INC 549300JDUUEBN868C776 10482B309 35150.00000000 NS USD 930069.00000000 0.088490161439 Long EP CORP US N 1 N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T207 242148.00000000 NS USD 6090022.20000000 0.579426953966 Long EP CORP US N 1 N N N SITE CENTERS CORP W2AVA6SODOQ1LCYJQR54 82981J109 146700.00000000 NS USD 2326662.00000000 0.221367120069 Long EC CORP US N 1 N N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 709102503 56533.00000000 NS USD 598119.14000000 0.056907239418 Long EP CORP US N 1 N N N MARRIOTT OWNERSHIP RESORTS INC BW4532OH033VURR0IT68 57164PAH9 1000000.00000000 PA USD 1006250.00000000 0.095738300006 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 1071000.00000000 PA USD 1070999.14000000 0.101898769661 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 302000.00000000 PA USD 265554.85000000 0.025265858283 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 16100.00000000 NS USD 949095.00000000 0.090300364566 Long EC CORP US N 1 N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 76169C407 11775.00000000 NS USD 328875.75000000 0.031290439968 Long EP CORP US N 1 N N N REDWOOD TRUST INC DRBV4N1ERQLEMIF11G78 758075AC9 3555000.00000000 PA USD 3563887.50000000 0.339081272709 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 431667.43660000 PA USD 417686.94000000 0.039740260939 Long ABS-MBS CORP US N 2 2024-08-15 Variable 0.07019500 N N N N N N DYNEX CAPITAL INC 5CIJ4S9HAEBWILA19B65 26817Q886 86766.00000000 NS USD 1514066.70000000 0.144053835482 Long EC CORP US N 1 N N N ASHFORD HOSPITALITY TRUST INC N/A 044103604 66735.00000000 NS USD 1751793.75000000 0.166672055241 Long EP CORP US N 1 N N N ALEN 2021-ACEN MTG TR N/A 01449NAL0 616000.00000000 PA USD 616185.91000000 0.058626177899 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 56575.00000000 NS USD 1449451.50000000 0.137906109368 Long EP CORP US N 1 N N N SABRA HEALTH CARE LP 549300OVKLRFSIQG0H81 14162VAB2 6615000.00000000 PA USD 7515762.83000000 0.715077124566 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 50274.00000000 NS USD 1332763.74000000 0.126804009717 Long EP CORP US N 1 N N N AG MORTGAGE INVESTMENT TR INC 549300SNP0PBR2XTFR48 001228204 1725.00000000 NS USD 43228.50000000 0.004112917368 Long EP CORP US N 1 N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13 N/A 61763BAC8 2994000.00000000 PA USD 2875528.02000000 0.273588237769 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 142800.00000000 NS USD 2654652.00000000 0.252573286547 Long EC CORP US N 1 N N N KENNEDY-WILSON INC 5EA4464UK7FM5QNNKL62 489399AL9 4000000.00000000 PA USD 4105000.00000000 0.390564692200 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 81977.00000000 NS USD 2063836.56000000 0.196360947821 Long EP CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2020-NNN N/A 46652BBN8 1406000.00000000 PA USD 1413773.63000000 0.134511586514 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 669000.00000000 PA USD 598252.92000000 0.056919967736 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 193698.00000000 NS USD 5229846.00000000 0.497586648780 Long EP CORP US N 1 N N N GPMT 2018-FL1 LTD / GPMT 2018-FL1 LLC N/A 36255CAJ8 1500000.00000000 PA USD 1489993.50000000 0.141763423314 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 28000.00000000 PA USD 28287.00000000 0.002691328489 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 44700.00000000 NS USD 8631123.00000000 0.821196564637 Long EC CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031UCF6 7120000.00000000 PA USD 7547200.00000000 0.718068171734 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 2015000.00000000 PA USD 2053320.06000000 0.195360369603 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 925000.00000000 PA USD 919576.10000000 0.087491828611 Long DBT CORP US N 2 2027-12-15 Fixed 0.03750000 N N N N N N HILTON GRAND VACATIONS BORROWER LLC / HILTON GRAND VACATIONS BORROWER INC N/A 43283QAB6 460000.00000000 PA USD 478975.00000000 0.045571430803 Long DBT CORP US N 2 2024-12-01 Fixed 0.06125000 N N N N N N BCP TR 2021-330N N/A 05553BAQ8 1000000.00000000 PA USD 992699.20000000 0.094449027404 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 4000000.00000000 PA USD 4054240.00000000 0.385735200415 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 605000.00000000 PA USD 606675.85000000 0.057721356058 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 1455002.47070000 PA USD 1581958.71000000 0.150513329267 Long DBT CORP US N 2 2026-08-01 Fixed 0.08528000 N N N N N N AMERICAN HOMES 4 RENT 2014-SFR3 TR N/A 02665XAE9 1841000.00000000 PA USD 2019375.41000000 0.192130751630 Long ABS-CBDO CORP US N 2 2036-12-17 Fixed 0.06418000 N N N N N N BRIGHTSPIRE CAPITAL INC 549300BOIFLLMVU37752 10949T109 32737.00000000 NS USD 311328.87000000 0.029620965720 Long EC CORP US N 1 N N N BX COML MTG TR 2020-VIVA N/A 12433XAJ8 968000.00000000 PA USD 981965.24000000 0.093427759247 Long ABS-MBS CORP US N 2 2044-03-11 Variable 0.03548750 N N N N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 64828T201 919600.00000000 NS USD 8975296.00000000 0.853942440839 Long EC CORP US N 1 N N N CREDIT SUISSE COM MTG TR 2021 N/A 12657VAQ5 1000000.00000000 PA USD 997500.10000000 0.094905802564 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.04310008 N N N N N N BENCHMARK 2019-B14 MTG TR N/A 08162YBP6 859000.00000000 PA USD 779062.32000000 0.074122834400 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 34600.00000000 NS USD 1407528.00000000 0.133917354465 Long EC CORP US N 1 N N N BX COML MTG TR 2018-BIOA N/A 056057AQ5 2000000.00000000 PA USD 2005608.00000000 0.190820869961 Long ABS-MBS CORP US N 2 2037-03-15 Variable 0.02564050 N N N N N N PROGRESS RESIDENTIAL 2021 N/A 74333DAS3 1533000.00000000 PA USD 1535390.87000000 0.146082694896 Long ABS-CBDO CORP US N 2 2038-04-19 Fixed 0.04998000 N N N N N N DBUBS 2011-LC1 MTG TR N/A 233050AL7 2778000.00000000 PA USD 2701014.12000000 0.256984347967 Long ABS-MBS CORP US N 2 2046-11-10 Fixed 0.04652000 N N N N N N PROGRESS RESIDENTIAL 2019-SFR4 TR N/A 74331AAL6 1000000.00000000 PA USD 1025734.10000000 0.097592088439 Long ABS-CBDO CORP US N 2 2036-10-17 Fixed 0.03684000 N N N N N N JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP 2018-LAQ N/A 46649VAJ0 1600000.00300000 PA USD 1601981.60000000 0.152418380149 Long ABS-MBS CORP US N 2 2032-06-15 Variable 0.01693000 N N N N N N BRAEMAR HOTELS and RESORTS INC 549300JDUUEBN868C776 10482B200 18883.00000000 NS USD 413537.70000000 0.039345487092 Long EP CORP US N 2 N N N UNITI GROUP LP / UNITI FIBER HOLDINGS INC / CSL CAPITAL LLC N/A 91327AAA0 1000000.00000000 PA USD 1065000.00000000 0.101327989571 Long DBT CORP US N 2 2025-02-15 Fixed 0.07875000 N N N N N N DOUGLAS EMMETT INC N/A 25960P109 49800.00000000 NS USD 1663320.00000000 0.158254339544 Long EC CORP US N 1 N N N WELLS FARGO COML MTG TR 2012-LC5 N/A 94988HAR2 1539000.00000000 PA USD 1512574.91000000 0.143911901133 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 16500.00000000 NS USD 438570.00000000 0.041727151536 Long EP CORP US N 1 N N N WASHINGTON REAL ESTATE INVS TR 549300DI34BGS8LVKW95 939653101 120300.00000000 NS USD 2922087.00000000 0.278018029168 Long EC CORP US N 1 N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q505 333766.00000000 NS USD 8611162.80000000 0.819297478310 Long EP CORP US N 1 N N N DIVERSIFIED HEALTHCARE TR N/A 25525PAA5 2000000.00000000 PA USD 2207500.00000000 0.210029612187 Long DBT CORP US N 2 2025-06-15 Fixed 0.09750000 N N N N N N MID-AMERICA APT CMNTYS INC 549300FQZKFR5YNSHZ21 59522J103 89814.00000000 NS USD 17343083.40000000 1.650084294743 Long EC CORP US N 1 N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 29250N717 99425.00000000 NS USD 2213200.50000000 0.210571978577 Long EP CORP CA N 1 N N N MERIT 2021 N/A 55293BAM7 250000.00000000 PA USD 250705.88000000 0.023853073046 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.02400000 N N N N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 903002103 37800.00000000 NS USD 879984.00000000 0.083724891620 Long EC CORP US N 1 N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 00123Q807 380250.00000000 NS USD 9787635.00000000 0.931231340107 Long EP CORP US N 1 N N N WHEELER REAL ESTATE INVESTMENT TRUST 5493005TOFFG62ETJY29 963025606 7672.00000000 NS USD 131656.59000000 0.012526288806 Long EP CORP US N 2 N N N FKH 2021-SFR1 F1 N/A 33767WAN3 1250000.00000000 PA USD 1263250.00000000 0.120190218616 Long ABS-CBDO CORP US N 2 2038-08-17 Fixed 0.03238000 N N N N N N REDWOOD TRUST INC DRBV4N1ERQLEMIF11G78 758075402 37800.00000000 NS USD 448686.00000000 0.042689624722 Long EC CORP US N 1 N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 035710847 163400.00000000 NS USD 4307224.00000000 0.409805022118 Long EP CORP US N 1 N N N GS MTG SECS TR 2012-GCJ9 N/A 36192PAN6 355000.00000000 PA USD 306577.08000000 0.029168863065 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 131700.00000000 NS USD 1365729.00000000 0.129940444948 Long EC CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2018-AON N/A 46649XAU1 961000.00000000 PA USD 967953.70000000 0.092094650159 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 44403397.12500000 NS USD 44412277.80000000 4.225546311536 Long STIV RF US N 1 N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T306 72400.00000000 NS USD 3040800.00000000 0.289312817549 Long EC CORP US N 1 N N N COMM 2012-CCRE2 MTG TR N/A 12624KBA3 783000.00000000 PA USD 543924.34000000 0.051750948217 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 49104.00000000 NS USD 2324583.36000000 0.221169350667 Long EC CORP US N 1 N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A 46639YAX5 1316000.00000000 PA USD 1014864.06000000 0.096557873134 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 39038.00000000 NS USD 976711.24000000 0.092927874499 Long EP CORP US N 1 N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 70509V407 73405.00000000 NS USD 1845401.70000000 0.175578257477 Long EP CORP US N 1 N N N MONMOUTH REAL ESTATE INVT CORP 549300DFIUDCN3KVN260 609720107 183495.00000000 NS USD 3493744.80000000 0.332407640057 Long EC CORP US N 1 N N N WFRBS COML MTG TR 2011-C5 N/A 92936JAN4 903000.00000000 PA USD 892112.89000000 0.084878878511 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 2045000.00000000 PA USD 2137393.10000000 0.203359385678 Long DBT CORP US N 2 2027-08-01 Fixed 0.07000000 N N N N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 16934Q406 472958.00000000 NS USD 12353662.96000000 1.175372611818 Long EP CORP US N 1 N N N LEXINGTON CORP PPTYS TR REIT 549300S4MH2ICXDBFV43 529043309 71519.00000000 NS USD 4324269.75000000 0.411426817027 Long EP CORP US N 2 N N N SAUL CENTERS INC N/A 804395879 13475.00000000 NS USD 368137.00000000 0.035025898682 Long EP CORP US N 1 N N N COMM 2012-CCRE1 MTG TR N/A 12624BAS5 1133000.00000000 PA USD 409955.32000000 0.039004646375 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 20000.00000000 NS USD 515600.00000000 0.049056067064 Long EP CORP US N 1 N N N ASHFORD HOSPITALITY TRUST INC N/A 044103802 35575.00000000 NS USD 934199.50000000 0.088883152294 Long EP CORP US N 1 N N N ASHFORD HOSPITALITY TRUST 2018-ASHF N/A 04410RAN6 905000.00000000 PA USD 878792.65000000 0.083611542230 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 37050.00000000 NS USD 975156.00000000 0.092779903285 Long EP CORP US N 1 N N N READY CAP MTG FING 2019-FL3 LLC N/A 75574XAJ4 599000.00000000 PA USD 569593.29000000 0.054193185867 Long ABS-MBS CORP US N 2 2034-03-25 Variable 0.02989250 N N N N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 903002400 78695.00000000 NS USD 2068891.55000000 0.196841898031 Long EP CORP US N 1 N N N PKHL COML MTG TR 2021-MF N/A 69356GAN9 500000.00000000 PA USD 500783.95000000 0.047646413956 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.02705000 N N N N N N RETAIL VALUE INC 549300VO5RB7323N1Z31 76133Q102 24066.00000000 NS USD 588173.04000000 0.055960931139 Long EC CORP US N 1 N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 64828T300 415696.00000000 NS USD 10675073.28000000 1.015665459151 Long EP CORP US N 1 N N N BENCHMARK 2020-B18 MORTGAGE TRUST N/A 08163ABT9 2058000.00000000 PA USD 2036501.93000000 0.193760231292 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 819000.00000000 PA USD 807747.10000000 0.076852009132 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 51175.00000000 NS USD 1356137.50000000 0.129027874608 Long EP CORP US N 1 N N N INVESCO MORTGAGE CAPITAL INC PV3BDP2HFZL2FNXQBL39 46131B407 301379.00000000 NS USD 7525433.63000000 0.715997239798 Long EP CORP US N 1 N N N RLJ LODGING TR N/A 74965L200 38950.00000000 NS USD 1107738.00000000 0.105394238978 Long EP CORP US N 2 N N N PROLOGIS INC 529900DFH19P073LZ636 74340W202 16850.00000000 NS USD 1213200.00000000 0.115428278825 Long EP CORP US N 1 N N N MONMOUTH REAL ESTATE INVT CORP 549300DFIUDCN3KVN260 609720404 99636.00000000 NS USD 2529758.04000000 0.240690419058 Long EP CORP US N 1 N N N DIGITALBRIDGE ISSUER LLC / DIGITALBRIDGE CO-ISSUER LLC N/A 25402JAA7 1000000.00000000 PA USD 1008648.00000000 0.095966454484 Long ABS-CBDO CORP US N 2 2051-09-25 Fixed 0.03933000 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 90187BAB7 3400000.00000000 PA USD 3489420.00000000 0.331996162790 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 459000.00000000 PA USD 367798.77000000 0.034993718245 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 588000.00000000 PA USD 594070.75000000 0.056522060808 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 1217000.00000000 PA USD 1229170.00000000 0.116947722950 Long LON CORP US N 3 2025-08-07 Variable 0.09000000 N N N N N N GREAT AJAX CORP 5493004ID2QQWNGDYC18 38983D409 310550.00000000 NS USD 8058772.50000000 0.766741047739 Long EP CORP US N 2 N N N WELLS FARGO COML MTG TR 2016-NXS6 549300CFP9NBBMZH1008 95000KAJ4 963000.00000000 PA USD 814976.31000000 0.077539822573 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 44175.00000000 NS USD 1133530.50000000 0.107848231627 Long EP CORP US N 1 N N N BLUEROCK RESIDENTIAL GROWTH REIT INC 549300KWLV0TGICOUU26 09627J656 31900.00000000 NS USD 807070.00000000 0.076787587365 Long EP CORP US N 1 N N N FIVE PT OPER CO LP / FIVE PT PT CAP CORP N/A 33834YAA6 3734000.00000000 PA USD 3911365.00000000 0.372141551110 Long DBT CORP US N 2 2025-11-15 Fixed 0.07875000 N N N N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923876 13800.00000000 NS USD 353211.00000000 0.033605784530 Long EP CORP US N 1 N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 55272X102 1731000.00000000 NS USD 8083770.00000000 0.769119401185 Long EC CORP US N 1 N N N PENNYMAC MORTGAGE INVESTMENT TRUST 549300BSSOQO1ZWDUJ97 70931T400 276005.00000000 NS USD 7457986.31000000 0.709580055443 Long EP CORP US N 1 N N N SBA SENIOR FINANCE II LLC 549300PVT2ADFWMYEW87 N/A 4317070.81200000 PA USD 4268935.47000000 0.406162111537 Long LON CORP US N 2 2025-04-11 Variable 0.01850000 N N N N N N M/I HOMES INC 5299005M71FH9CCSFB69 55305BAQ4 1518000.00000000 PA USD 1559745.00000000 0.148399835769 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 1693000.00000000 PA USD 1719154.14000000 0.163566603540 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 1299000.00000000 PA USD 960168.71000000 0.091353957778 Long ABS-MBS CORP US N 3 2046-01-10 Fixed 0.03500000 N N N N N N COMM 2012-CCRE1 MTG TR N/A 12624BAH9 3011000.00000000 PA USD 2892137.76000000 0.275168549094 Long ABS-MBS CORP US N 2 2045-05-15 Variable 0.05354027 N N N N N N GS MTG SECS TR 2011-GC5 N/A 36191YAJ7 101000.00000000 PA USD 84840.00000000 0.008071987450 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 427786.00000000 NS USD 10801596.50000000 1.027703340387 Long EP CORP US N 1 N N N ELLINGTON FINANCIAL INC 60GS1D1R1YY5G1W7IT74 28852N208 153222.00000000 NS USD 3939337.62000000 0.374802968337 Long EP CORP US N 1 N N N AMERICAN FINANCE TRUST INC 549300GN4H0K3IUS8983 02607T505 205000.00000000 NS USD 5412000.00000000 0.514917445599 Long EP CORP US N 1 N N N GPMT 2019-FL2 LTD N/A 36259BAJ6 358000.00000000 PA USD 355511.47000000 0.033824659647 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 652000.00000000 PA USD 534409.91000000 0.050845710598 Long ABS-MBS CORP US N 3 2049-07-15 Variable 0.05283724 N N N N N N GLOBAL PARTNERS LP 549300PCHWTW9P4DU444 37946R307 12200.00000000 NS USD 333548.00000000 0.031734974897 Long EP CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031UCJ8 3015000.00000000 PA USD 3150675.00000000 0.299766726333 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 848000.00000000 PA USD 339216.96000000 0.032274340455 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 1005000.00000000 PA USD 1009691.04000000 0.096065693119 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 1640000.00000000 PA USD 1471997.09000000 0.140051179141 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 935426.88010000 PA USD 1076154.18000000 0.102389238994 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 1990070.69260000 PA USD 1992539.38000000 0.189577473726 Long ABS-MBS CORP US N 2 2034-08-15 Variable 0.04343000 N N N N N N FORESTAR GROUP INC 549300BC2UB0GHV60V70 346232AF8 1000000.00000000 PA USD 1010000.00000000 0.096095088702 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 34000.00000000 PA USD 3175.60000000 0.000302138181 Long ABS-MBS CORP US N 2 2044-03-15 Fixed 0.05000000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T405 285785.00000000 NS USD 7293233.20000000 0.693904842850 Long EP CORP US N 1 N N N AG MORTGAGE INVESTMENT TR INC 549300SNP0PBR2XTFR48 001228303 144509.00000000 NS USD 3628620.99000000 0.345240253366 Long EP CORP US N 1 N N N EQUITY LIFESTYLE PROPERTIES INC 529900PEQG66LENB6798 29472R108 261000.00000000 NS USD 21871800.00000000 2.080962931756 Long EC CORP US N 1 N N N GLADSTONE LD CORP 54930002B3Q17H38FG74 376549507 60000.00000000 NS USD 1557000.00000000 0.148138666444 Long EP CORP US N 1 N N N BANK 2018-BNK12 N/A 06541KAJ7 318000.00000000 PA USD 281839.33000000 0.026815223184 Long ABS-MBS CORP US N 2 2061-05-15 Fixed 0.03000000 N N N N N N MORGAN STANLEY CAP I TR 2015-MS1 N/A 61765DAC2 2045000.00000000 PA USD 1850602.91000000 0.176073119592 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 1766000.00000000 PA USD 1516127.25000000 0.144249883735 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 2000000.00000000 PA USD 1827406.80000000 0.173866156971 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 2226000.00000000 PA USD 1822952.65000000 0.173442372872 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 659000.00000000 PA USD 540017.68000000 0.051379254317 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 1236000.00000000 PA USD 593872.29000000 0.056503178599 Long ABS-MBS CORP US N 3 2045-05-10 Variable 0.05000000 N N N N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 02665T868 18925.00000000 NS USD 525168.75000000 0.049966472885 Long EP CORP US N 1 N N N CLEAR CHANNEL OUTDOOR HOLDINGS INC N/A 18453HAC0 4000000.00000000 PA USD 4171280.00000000 0.396870813466 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 2889000.00000000 PA USD 2452778.62000000 0.233366315896 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 1176000.00000000 PA USD 1175996.59000000 0.111888610524 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 461000.00000000 PA USD 382715.88000000 0.036412986570 Long ABS-MBS CORP US N 2 2050-09-15 Variable 0.04145954 N N N N N N SOTHERLY HOTELS INC 549300IYTT21F61LSR10 83600C301 12750.00000000 NS USD 245437.50000000 0.023351820131 Long EP CORP US N 1 N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2016-C30 N/A 61766NAJ4 522000.00000000 PA USD 391619.17000000 0.037260078097 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 3867838.85000000 PA USD 3713241.33000000 0.353291341562 Long LON CORP NL N 2 2024-04-27 Variable 0.03750000 N N N N N N RLJ LODGING TRUST LP 549300RX5I8Z6I6LDZ74 74965LAA9 1000000.00000000 PA USD 1012500.00000000 0.096332947832 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 1894500.00000000 PA USD 1827502.14000000 0.173875227966 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 24391809.07360000 PA USD 103540.79000000 0.009851248910 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.00427304 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T306 345049.00000000 NS USD 8871209.79000000 0.844039298678 Long EP CORP US N 1 N N N GREAT AJAX CORP 5493004ID2QQWNGDYC18 38983D300 281246.00000000 NS USD 3566199.28000000 0.339301223901 Long EC CORP US N 1 N N N BX COML MTG TR 2020-VIVA N/A 12433XAG4 1505000.00000000 PA USD 1577890.16000000 0.150126232561 Long ABS-MBS CORP US N 2 2044-03-11 Variable 0.03548750 N N N N N N ASHFORD HOSPITALITY TRUST INC N/A 044103885 58911.00000000 NS USD 1532275.11000000 0.145786250110 Long EP CORP US N 1 N N N AMERICAN HOMES 4 RENT LP 549300N4PXZ37U8QKI55 02666TAA5 2000000.00000000 PA USD 2294190.56000000 0.218277668675 Long DBT CORP US N 2 2028-02-15 Fixed 0.04250000 N N N N N N MPT OPER PARTNERSHIP LP / MPT FIN CORP N/A 55342UAJ3 1506000.00000000 PA USD 1621209.00000000 0.154247745207 Long DBT CORP US N 2 2029-08-01 Fixed 0.04625000 N N N N N N BROOKFIELD PROPERTY PARTNERS LP 5493004J5Z0TZW83NU62 N/A 5875.00000000 NS USD 149401.25000000 0.014214580565 Long EP CORP BM N 1 N N N SREIT TR 2021-FLWR N/A 78485GAN4 500000.00000000 PA USD 499051.15000000 0.047481549035 Long ABS-MBS CORP US N 2 2036-07-15 Variable 0.02023990 N N N N N N MARRIOTT OWNERSHIP RESORTS INC / ILG LLC N/A 57165PAB1 15000.00000000 PA USD 15555.90000000 0.001480045138 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 636000.00000000 PA USD 407888.49000000 0.038808000620 Long ABS-MBS CORP US N 3 2049-07-15 Variable 0.05283724 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031U705 145700.00000000 NS USD 3817340.00000000 0.363195669213 Long EP CORP US N 1 N N N BROOKFIELD OFFICE PROPERTIES INC 36ZUFRRMJERSM4Q0S289 112900642 7675.00000000 NS 148135.62000000 0.014094163904 Long EP CORP CA N 1 N N N TRICON AMERN HOMES 2018-SFR TR N/A 89613TAF5 1386000.00000000 PA USD 1458922.59000000 0.138807223460 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 2551000.00000000 PA USD 1444503.75000000 0.137435362363 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 1291000.00000000 PA USD 1233339.16000000 0.117344392059 Long ABS-MBS CORP US N 2 2045-06-15 Variable 0.04989325 N N N N N N HEALTHCARE TRUST INC 549300Z2NSUGF5NF2Y30 42226B204 28000.00000000 NS USD 700280.00000000 0.066627196748 Long EP CORP US N 1 N N N CLEAR CHANNEL OUTDOOR HOLDINGS INC N/A 18453HAD8 1275000.00000000 PA USD 1323526.50000000 0.125925144967 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 836000.00000000 PA USD 796162.76000000 0.075749832716 Long ABS-MBS CORP US N 2 2045-08-15 Variable 0.04830613 N N N N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 75574U408 136450.00000000 NS USD 3614560.50000000 0.343902486996 Long EP CORP US N 1 N N N LGI HOMES INC 549300W02B4WNV8CV109 50187TAF3 2110000.00000000 PA USD 2140299.60000000 0.203635920703 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 34229.00000000 NS USD 898511.25000000 0.085487641850 Long EP CORP US N 1 N N N COMM 2012-LC4 MTG TR N/A 126192AG8 802000.00000000 PA USD 721855.10000000 0.068679930558 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 625000.00000000 PA USD 643649.69000000 0.061239182231 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 2716000.00000000 PA USD 2638995.70000000 0.251083688986 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 1823818.16010000 PA USD 1359156.35000000 0.129315099023 Long ABS-CBDO CORP US N 2 2040-04-15 Fixed 0.07170000 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 45031UCG4 3200000.00000000 PA USD 3317792.00000000 0.315666848054 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 103493.00000000 NS USD 2558346.96000000 0.243410473318 Long EP CORP US N 1 N N N AMR HMS 15-SFR2 N/A 02666BAE6 1624000.00000000 PA USD 1836332.32000000 0.174715363541 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 35775.00000000 NS 725765.67000000 0.069051996470 Long EP CORP BM N 1 N N N WF-RBS COML MTG TR 2012-C8 N/A 92936YAR2 557000.00000000 PA USD 463571.77000000 0.044105911245 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 2117000.00000000 PA USD 2140978.07000000 0.203700472817 Long DBT CORP US N 2 2022-02-01 Fixed 0.04150000 N N N N N N ARLINGTON ASSET INVESTMENT CORP 549300LA9ZT7L8G7IT53 041356700 22175.00000000 NS USD 556814.25000000 0.052977341331 Long EP CORP US N 1 N N N CONSECO FIN SECURITIZATNS CORP N/A 20846QJZ2 1517777.95310000 PA USD 1439939.92000000 0.137001142908 Long ABS-CBDO CORP US N 2 2033-03-01 Fixed 0.09163000 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 03027X100 77100.00000000 NS USD 21803880.00000000 2.074500774900 Long EC CORP US N 1 N N N JPMBB COML MTG SECS TR 2014-C23 N/A 46643AAQ6 1624000.00000000 PA USD 1443424.03000000 0.137332633858 Long ABS-MBS CORP US N 2 2047-09-15 Fixed 0.04709400 N N N N N N GLP CAP LP / GLP FING II INC N/A 361841AJ8 2375000.00000000 PA USD 2682087.50000000 0.255183600217 Long DBT CORP US N 2 2025-06-01 Fixed 0.05250000 N N N N N N GS MORTGAGE SECURITIES CORPORATION II N/A 36192BAJ6 2440000.00000000 PA USD 2469976.86000000 0.235002619261 Long ABS-MBS CORP US N 2 2045-01-10 Variable 0.05759811 N N N N N N MPT OPER PARTNERSHIP LP / MPT FIN CORP N/A 55342UAH7 4237000.00000000 PA USD 4485033.98000000 0.426722513009 Long DBT CORP US N 2 2027-10-15 Fixed 0.05000000 N N N N N N CHERRY HILL MORTGAGE INVESTMENT CORP N/A 164651200 64250.00000000 NS USD 1654437.50000000 0.157409226054 Long EP CORP US N 1 N N N REALOGY GROUP LLC / REALOGY CO-ISSUER CORP N/A 75606DAL5 2500000.00000000 PA USD 2621875.00000000 0.249454763060 Long DBT CORP US N 2 2029-01-15 Fixed 0.05750000 N N N N N N JPMBB COML MTG SECS TR 2014-C26 N/A 46643TAL6 602000.00000000 PA USD 596178.24000000 0.056722575104 Long ABS-MBS CORP US N 2 2048-01-15 Variable 0.03878823 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 617459AJ1 1870876.05000000 PA USD 1784331.57000000 0.169767822270 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.05211300 N N N N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 681936BH2 22000.00000000 PA USD 25208.79000000 0.002398456347 Long DBT CORP US N 2 2026-01-15 Fixed 0.05250000 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 867892804 20000.00000000 NS USD 536600.00000000 0.051054083759 Long EP CORP US N 1 N N N LANDMARK INFRASTRUCTURE PARTNERS LP 549300I3H10A778Y4H45 51508J405 57650.00000000 NS USD 1475840.00000000 0.140416807633 Long EP CORP US N 2 N N N HOME PARTNERS AMER 2017-1 TR N/A 43730TAL7 2115000.00000000 PA USD 2112420.33000000 0.200983385136 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 37319.05400000 PA USD 38426.36000000 0.003656024230 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 1386000.00000000 PA USD 1389199.72000000 0.132173534968 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 483000.00000000 PA USD 544417.98000000 0.051797914929 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 78000.00000000 NS USD 1982760.00000000 0.188647027796 Long EP CORP US N 1 N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 25401T504 318173.00000000 NS USD 8056140.36000000 0.766490616327 Long EP CORP US N 1 N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6 N/A 61761DAQ5 2000000.00000000 PA USD 1988936.60000000 0.189234692079 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 1057000.00000000 PA USD 1083196.27000000 0.103059249155 Long ABS-MBS CORP US N 2 2037-08-15 Variable 0.03704200 N N N N N N DIAMONDROCK HOSPITALITY CO 529900KKD4BPVBUAQ734 252784400 34900.00000000 NS USD 1037577.00000000 0.098718865198 Long EP CORP US N 1 N N N AVALONBAY COMMUNITIES INC K9G90K85RBWD2LAGQX17 053484101 9200.00000000 NS USD 2096036.00000000 0.199424520141 Long EC CORP US N 1 N N N BX TRUST N/A 056058AN0 1000000.00000000 PA USD 987510.20000000 0.093955326993 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 59794.85050000 PA USD 60453.47000000 0.005751763922 Long ABS-MBS CORP US N 2 2032-07-15 Variable 0.07350000 N N N N N N ELLINGTON RESIDENTIAL MORTGAGE REIT 549300KA3MR2ZCRGA787 288578107 8800.00000000 NS USD 97944.00000000 0.009318749869 Long EC CORP US N 1 N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 617459AL6 1467000.00000000 PA USD 958432.62000000 0.091188779835 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 637000.00000000 PA USD 648659.14000000 0.061715799599 Long ABS-MBS CORP US N 2 2045-10-15 Variable 0.04757385 N N N N N N LAMAR ADVERTISING CO 529900Y8WW4MKVPTB543 512816109 25100.00000000 NS USD 2675660.00000000 0.254572064392 Long EC CORP US N 1 N N N CSMC 2020-NET N/A 126438AL4 500000.00000000 PA USD 521801.15000000 0.049646067122 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 53500.00000000 NS USD 1374415.00000000 0.130766862711 Long EP CORP US N 1 N N N WASHINGTON PRIME GROUP LP 549300K4BNOIQ154O537 939648AE1 5316000.00000000 PA USD 3220645.44000000 0.306423969539 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