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
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S000031548
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Fidelity Securities Fund
811-04118
0000754510
LIUMB3NDWOFJPXVROE85
245 Summer Street
Boston
02210
1-800-FIDELITY
Fidelity Series Real Estate Income Fund
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2021-07-31
2021-07-31
N
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0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
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0.00000000
0.00000000
0.00000000
USD
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DIGITAL REALTY TRUST INC
549300HKCZ31D08NEI41
DIGITAL REALTY TRUST INC
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
LIFE 2021-BMR MTG G TR 1ML+305.6 03/15/2036 144A
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
CSAIL 2017-CX10 UESD CSTR 10/15/2032 144A
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
BX 2020-BXLP 1ML+262.15 12/15/2029 144A
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
JPMCC 2011-C3 G CSTR 02/15/2046 144A
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
CAMB COML MTG TR 2019-LIFE 1ML+325 12/15/2037 144A
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
SERITAGE GROWTH PPTYS SER A 7% PERP PFD
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
WELLS FARGO COML MTG TR 12-LC5 CSTR 10/15/2045
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
WFRBS 2011-C5 C CSTR 11/44
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
EQUINIX INC
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
UBSCM 2012-C1 F CSTR 5/10/45 144A
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
ISTAR INC
45031U101
390487.00000000
NS
USD
9461500.01000000
0.900201666055
Long
EC
CORP
US
N
1
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSYLVANIA REAL EST INVT TR 7.2% PERP PFD C
709102602
9575.00000000
NS
USD
102452.50000000
0.009747705024
Long
EP
CORP
US
N
1
N
N
N
VEREIT OPER PARTNERSHIP LP
5493005TQOUJE1LCS698
VEREIT OPER PARTNERSHIP LP 3.1% 12/15/2029
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
BANK 2017-BNK4 D 3.357% 05/15/2050 144A
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
SUMMIT HOTEL PPTYS INC 6.45% SER D PREF PERP
866082506
42350.00000000
NS
USD
1078654.50000000
0.102627128570
Long
EP
CORP
US
N
1
N
N
N
SERVICE PROPERTIES TRUST
529900IS770AG1K9QG27
HOSPITALITY PROP TRUST 4.65% 03/15/2024
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
BRIXMOR OPERATING PARTNERSHIP LP 3.85% 02/01/2025
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
WFRBS 2013-C11 D CSTR 3/45
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
SELECT INCOME REIT 4.50% 02/01/2025
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
HOWARD HUGHES CORP 5.375% 08/01/2028 144A
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
MORGAN STAN BAML TR-2012-C6 F CSTR 11/15/2045 144A
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
TWO HBRS INVT CORP SR C 7.25/VAR PERP PFD
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
BROOKFIELD RESIDENTIAL PPTYS INC / US CORP 4.875% 02/15/2030 144A
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
BHP TRUST 2019-BXHP F 1ML+293.798 08/15/2036 144A
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
CENTURY COMMUNITIES INC 6.75% 06/01/2027
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
WP CAREY INC 4.25% 10/01/26
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
DBCCRE 2014-ARCP MORTGAGE TRUST VAR 01/10/2034 144A
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
TAYLOR MORRISON CMNTY/ MONARCH 6.625% 07/15/2027 144A
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
WESTERN ASSET MTG CAP CORP CONV 6.75% 10/01/2022
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
WESTERN ASSET MTG CAP CORP
USD
XXXX
N
N
N
EXTRA SPACE STORAGE INC
N/A
EXTRA SPACE STORAGE INC
30225T102
6400.00000000
NS
USD
1114496.00000000
0.106037219780
Long
EC
CORP
US
N
1
N
N
N
WILLIAMS SCOTSMAN INTL INC
549300V3TCHCBOBTGH07
WILLIAMS SCOTSMAN INTL INC 4.625% 08/15/2028 144A
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
CGCMT 2017-MDRB D 1ML+325 07/15/2022 144A
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
NEW RESIDENTIAL INVESTMENT CORP SER C 6.375%/VAR PFD PERP
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
EXTENDED STAY AMER TR 2021-ESH F 1ML+370 07/15/2038 144A
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
ARMADA HOFFLER PPTYS INC SER A 6.75% PFD PERP
04208T207
33250.00000000
NS
USD
908390.00000000
0.086427542204
Long
EP
CORP
US
N
1
N
N
N
HEALTHCARE TR AMER INC
549300L0I14L7I0VLX84
HEALTHCARE TRST OF AMERICA INC
42225P501
90350.00000000
NS
USD
2583106.50000000
0.245766186380
Long
EC
CORP
US
N
1
N
N
N
VB-S1 ISSUER LLC
N/A
VB-S1 ISSUER LLC 2018-1A F 5.25% 02/15/2048 144A
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
CITIGROUP COML MTG TR 2013-GC15 D CSTR 09/10/2046 144A
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
COMM 2017-COR2 D 3% 09/10/2050 144A
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
SPIRIT RLTY CAP INC SER A 6% PFD PERP
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
PROGRESS RESIDENTIAL TRUST 2021-SFR6 3.577545% 07/17/2038 144A
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
OMEGA HEALTHCARE INVESTORS INC 4.95% 04/01/24
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
XHR LP 6.375% 08/15/2025 144A
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
IMT TR 2017-APTS FFL 1ML+285 06/15/2034 144A
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
UMH PPTYS INC 6.75% SER D PFD PERP
903002509
49775.00000000
NS
USD
1315055.50000000
0.125119183089
Long
EP
CORP
US
N
1
N
N
N
REDWOOD TRUST INC
DRBV4N1ERQLEMIF11G78
REDWOOD TRUST INC CONV 5.625% 07/15/2024
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
REDWOOD TRUST INC REIT
USD
XXXX
N
N
N
DYNEX CAPITAL INC
5CIJ4S9HAEBWILA19B65
DYNEX CAP INC 6.9%/VAR PFD PERP C
26817Q878
173400.00000000
NS
USD
4501464.00000000
0.428285725118
Long
EP
CORP
US
N
1
N
N
N
OFFICE PROPERTIES INCOME TRUST
N/A
SELECT INCOME REIT 4.25% 05/15/2024
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
CBL and ASSOCS LP 5.25% 12/01/2023
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
EASTERLY GOVERNMENT PROPERTIES INC
27616P103
92100.00000000
NS
USD
2090670.00000000
0.198913979303
Long
EC
CORP
US
N
1
N
N
N
LEXINGTON CORP PPTYS TR REIT
549300S4MH2ICXDBFV43
LEXINGTON REALTY TRUST REIT
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
WFRBS 2011-C3 D CSTR 3/44
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
BX TR 2018-EXCL 1ML+300 11/15/2035 144A
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
CSMC 2019-ICE4 1ML+265.535 05/15/2036 144A
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
ADAMS HOMES INC 7.5% 02/15/2025 144A
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
DIGITALBRIDGE GROUP INC
25401T108
313799.00000000
NS
USD
2184041.04000000
0.207797641057
Long
EC
CORP
US
N
1
N
N
N
AMR HMS 15-SFR2
N/A
AMERICAN HOMES 4 RENT 2015-SFR2 TR VAR 10/17/2045 144A
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
WFRBS COML MTG TR 2013-C13 D CSTR 05/15/2045 144A
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
PLYMOUTH INDL REIT INC SER A STEP PFD PERP
729640201
30350.00000000
NS
USD
805173.36000000
0.076607134108
Long
EP
CORP
US
N
1
N
N
N
CRSNT TR 2021-MOON
N/A
CRSNT TR 2021-MOON 1ML+255 04/15/2036 144A
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
TERRENO REALTY CORP
88146M101
28480.00000000
NS
USD
1946892.80000000
0.185234491395
Long
EC
CORP
US
N
1
N
N
N
BLACKSTONE MTG TR INC
549300OLDJ20R2Y2UW20
BLACKSTONE MTG TR INC CONV 4.75% 03/15/2023
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
BLACKSTONE MORTGAGE TR CL A
USD
XXXX
N
N
N
WP CAREY INC
54930042CRNE713E3Q67
WP CAREY INC 4% 02/01/2025
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
MFA FINANCIAL INC CONV 6.25% 06/15/2024
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
MFA FINANCIAL INC
USD
XXXX
N
N
N
INVESCO MORTGAGE CAPITAL INC
PV3BDP2HFZL2FNXQBL39
INVESCO MORTGAGE CAPITAL INC 7.5/VAR PFD PERP
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
GS MTG SECS TR 2012-GCJ9 VAR 11/10/2045 144A
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
ENBRIDGE INC SER L 4/VAR PFD PERP
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
CUSHMAN and WAKEFIELD TERM B 1LN 08/21/2025
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
GSMS 2013-GC16 F 3.5% 11/10/2046
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
DCP MIDSTREAM LP SER B 7.875/VAR PFD PERP
23311P209
34150.00000000
NS
USD
860067.75000000
0.081829986857
Long
EP
CORP
US
N
1
N
N
N
MERIT 2021
N/A
MERIT 2021-STOR G 1ML+275 07/15/2038 144A
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
PEBBLEBROOK HOTEL TR SER F 6.3% PERP PFD
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
WFRBS 2013-C11 E VAR 3/45
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
JPMCC 2014-DSTY E CSTR 06/27
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
HOSPITALITY PROP 5% 8/15/22
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
ARAGON JUNIOR MEZZ 1ML+600 01/15/2025
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
WFRBS COML MTG TR 2013-UBS1 VAR 03/15/2046 144A
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
COMM 2018-HCLV MTG TR 1ML+305 09/15/2033 144A
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
HUNTERSTOWN GENERATION TERM B 06/01/2025
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
LIGHTSTONE HOLDCO TERM C 1LN 01/30/2024
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
GLADSTONE COMMERCIAL CORP SER E 6.625% PFD 12/31/2049
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
MSC 2015-UBS8 D 3.18% 12/48 144A
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
ACADIA RLTY TR REIT
004239109
146500.00000000
NS
USD
3135100.00000000
0.298284863950
Long
EC
CORP
US
N
1
N
N
N
PENNYMAC CORP
EWN0I878407TKQNXZ933
PENNYMAC MORTGAGE INV TRUST CONV 5.5% 03/15/2026 144A
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
PENNYMAC MORTGAGE INV TRUST
USD
XXXX
N
N
N
FARMLAND PARTNERS INC
549300LB188CHPZ4IL37
FARMLAND PARTNERS INC 6% PFD PERP B
31154R208
117050.00000000
NS
USD
3078415.00000000
0.292891646026
Long
EP
CORP
US
N
1
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INVT CORP 8.125% SER A PERP PFD
90187B200
292032.00000000
NS
USD
7721326.08000000
0.734635162926
Long
EP
CORP
US
N
1
N
N
N
URSTADT BIDDLE PPTYS INC
549300XXD0YL0AER3Z82
URSTADT BIDDLE PPTYS INC SER K 5.875% PFD PERP
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
MSC 2011-C3 D CSTR 7/49
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
COMM 2013-CCRE10 D MTG TR CSTR 08/10/2046 144A
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
WFRBS 2012-C7 D 4.8512% 6/45
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
PKHL COML MTG TR 2021-MF G 1ML+410 07/15/2038 144A
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
LIGHTSTONE HOLDCO TERM B 1LN 1/30/2024
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
READY CAPITAL CORP PC 7% 08/15/2023
75574U200
73475.00000000
NS
USD
1933862.00000000
0.183994693492
Long
EP
CORP
US
N
2
N
N
N
CAPSTEAD MORTGAGE CORP
549300W6CQE2GR8QBV24
CAPSTEAD MORT 7.5% PFD PRP E
14067E605
132416.00000000
NS
USD
3356745.60000000
0.319373035824
Long
EP
CORP
US
N
1
N
N
N
CONSECO FIN SECURITIZATNS CORP
N/A
CNF 2002-1 M2 9.546% 12/33
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
BX TRUST 2.9% 06/15/2023 144A
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
JPMDB 2016-C4 D CSTR 12/15/2049
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
FOUR SEASONS HLDGS INC TERM B 11/30/2023
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
ASHTON WOODS USA LLC/FIN CO 6.75% 08/01/2025 144A
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
SAUL CENTERS INC 6.125% SER D PFD PERP
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
HILTON GRAND VACATIONS BORROWER ESCROW LLC 4.875% 07/01/2031 144A
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
COLONY FINL INC 5% 4/15/23
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
DIGITALBRIDGE GROUP INC
USD
XXXX
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT SER F 5.875% PFD PERP
02665T884
47683.00000000
NS
USD
1243782.45000000
0.118338004810
Long
EP
CORP
US
N
1
N
N
N
CSMC 2019-SKLZ
N/A
CSMC 2019-SKLZ D 1ML+400 01/15/2034 144A
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
SABRA HEALTH CA LP/CAPTL CORP 3.9% 10/15/2029
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
SOTHERLY HOTELS INC SER C 7.875% PERP PFD
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
JPMCC 2011-C3 E CSTR 2/46
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
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-BNK1 D 3% 08/15/2049 144A
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
JPMCC 2011-C4 E CSTR 7/46
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
ISTAR INC 8.0% PFD PERPEPAR=25
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
CGCMT 2016-C3 D 3% 11/15/2049 144A
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
HILTON GRAND VACATIONS TERM B 1LN 05/20/2028
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
BROOKFIELD PROPERTY PARTN LP 5.75% PFD PERP
N/A
7000.00000000
NS
USD
170310.00000000
0.016203915402
Long
EP
CORP
BM
N
1
N
N
N
ISTAR INC
QFFLKWYYS3UPWD86E794
ISTAR INC 7.5 PFD PERP IPAR:25
45031U804
303323.00000000
NS
USD
8031993.04000000
0.764193152112
Long
EP
CORP
US
N
1
N
N
N
GLOBAL NET LEASE INC
549300NUYANCT5SU8Z65
GLOBAL NET LEASE INC SER B 6.875% PFD PERP
379378409
47200.00000000
NS
USD
1266848.00000000
0.120532545477
Long
EP
CORP
US
N
1
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP 8%/VAR PERP PFD
16934Q604
230700.00000000
NS
USD
6009735.00000000
0.571788136535
Long
EP
CORP
US
N
1
N
N
N
VENTAS INC
ORQTRC074CWLT3DKHT41
VENTAS INC REIT
92276F100
73655.00000000
NS
USD
4403095.90000000
0.418926624825
Long
EC
CORP
US
N
1
N
N
N
SERVICE PROPERTIES TRUST
529900IS770AG1K9QG27
SERVICE PPTYS TR 7.5% 09/15/2025
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
UBSC 2011-C1 B CSTR 1/45
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
GLOBAL MEDICAL REIT INC SER A 7.5% PFD PERP
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
JP MORGAN CH CMS 13-LC11 VAR 04/15/2046 144A
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
TWO HARBORS INV CORP 7.625% SER B PFD PERP
90187B309
503172.00000000
NS
USD
12881203.20000000
1.225564716924
Long
EP
CORP
US
N
1
N
N
N
CSMC 2017-CHOP A
N/A
CSMC 2017-CHOP F 1ML+435 07/15/2032 144A
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
DTZ US BORROWER LLC 6.75% 05/15/2028 144A
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
CALI MTG TR 2019-101C CSTR 03/10/2039 144A
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
CGCMT 2017-MDRB E 1ML+387.15 7/22
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
HAMILTON TERM B 1LN 06/17/2027
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
GRANITE POINT MORTGAGE TRUST INC CONV 6.375% 10/01/2023
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
GRANITE POINT MORTGAGE TRUST INC
USD
XXXX
N
N
N
GLADSTONE COMMERCIAL CORP
529900EVVV534W8R0T32
GLADSTONE COMMERCIAL CORP SER G 6% PFD PERP
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
MORGAN STANLEY CAP I TR 2011-C3 C CSTR 07/15/2049 144A
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
MATTAMY GROUP CORP 5.25% 12/15/2027 144A
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
GLOBAL PARTNERS LP SER A 9.75/VAR PFD PERP
37946R208
1825.00000000
NS
USD
50046.98000000
0.004761652457
Long
EP
CORP
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE
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
COMM MORTGAGE TRUST 2018-HCLV G 1ML+505 069/15/2033
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
PENNYMAC CORP CONV 5.5% 11/01/2024
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
PENNYMAC MORTGAGE INV TRUST
USD
XXXX
N
N
N
UBS-BAMLL TR 2012-WRM
N/A
UBSBM 2012-WRM D CSTR 6/30
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
MORGAN STANLEY BNK AML TR13-C12 4.94% 10/15/2046
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
BENCHMARK 2019-B14 MTG TR VAR 12/15/2062 144A
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
CHIMERA INVESTMENT CORP
16934Q208
54700.00000000
NS
USD
805184.00000000
0.076608146437
Long
EC
CORP
US
N
1
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP 7/VAR PFD PERP
00123Q500
319899.00000000
NS
USD
8451731.58000000
0.804128609768
Long
EP
CORP
US
N
1
N
N
N
READY CAPITAL CORP
549300MYWGZUG7ZUYO87
READY CAPITAL CORP 5.75% PFD 02/15/2026
75574U606
120000.00000000
NS
USD
3118800.00000000
0.296734022419
Long
EP
CORP
US
N
1
N
N
N
NATIONAL STORAGE AFFILIATES TRUST
N/A
NATIONAL STORAGE AFFILIATES SER A 6% PFD PERP
637870205
12325.00000000
NS
USD
331419.25000000
0.031532437847
Long
EP
CORP
US
N
1
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSYLVANIA REAL EST INVT TR SER D 6.875% PFD PERP
709102701
27400.00000000
NS
USD
281946.00000000
0.026825372157
Long
EP
CORP
US
N
1
N
N
N
VEREIT OPER PARTNERSHIP LP
5493005TQOUJE1LCS698
VEREIT OPER PARTNERSHIP LP 4.875% 06/01/2026
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
BX TRUST 2019 1ML+265 10/15/2036 144A
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
ARC PPTYS OPER PT LP/CLARK LLC 4.6% 02/06/24
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
PROGRESS RESIDENTIAL 2020-SFR1 TR 5.268% 04/17/2037 144A
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
MSCCG TR 2018-SELF E 1ML+215 10/15/2028 144A
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
BX COML MTG TR 2020-FOX 1ML+425 11/15/2032 144A
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
CITY OFFICE REIT INC 6.625% SER A PFD PERP
178587200
27525.00000000
NS
USD
706566.75000000
0.067225341104
Long
EP
CORP
US
N
1
N
N
N
CAESARS RESORT COLLECTION LLC
549300V3UCT773B1KR38
CAESARS RESORT COLLECTION TERM B 1LN 12/22/2024
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
PEBBLEBROOK HOTEL TR SER E 6.375% PERP PFD
70509V605
55192.00000000
NS
USD
1396495.58000000
0.132867689734
Long
EP
CORP
US
N
1
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 4.75% 01/15/2028
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
COMPASS POWER GENERATION LLC TERM B-1 12/20/2024
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
PICASSO FINANCE SUB INC 6.125% 06/15/2025 144A
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
CD 2017-CD4 D 3.3% 05/10/2050 144A
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
MFA FINANCIAL 7.5% PFD PERP
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
KREF 2018-FL1 LTD / KREF 2018-FL1 LLC 1ML+255 06/15/2036 144A
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
COMM 2014-UBS2 D MTG TR CSTR 03/10/2047 144A
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
REXFORD INDL RLTY INC SER A 5.875% PERP PFD
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
TRICON AMERN HOMES 2017-SFR1 TR 2017-SFR1 F 5.151% 09/17/2034 144A
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
JP MORGAN CHASE CO MT SE 2011-C3 H CSTR 02/15/2046 144A
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
HOME PARTNERS AMER 2021-1 TR 3.325% 09/19/2041 144A
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
GLOBAL NET LEASE INC SER A 7.25% PFD PERP
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
JPMDB 2015-WPG PR1 CSTAR 6/5/35 144A
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
SUMMIT HOTEL PPTYS INC SERIES E 6.25% PFD PERP
866082605
52384.00000000
NS
USD
1388176.00000000
0.132076134509
Long
EP
CORP
US
N
1
N
N
N
QTS RLTY TR INC
5493006PA4CJK4OG2J54
QTS RLTY TR INC 7.125% PFD PERP SER A
74736A202
32825.00000000
NS
USD
837365.75000000
0.079670035665
Long
EP
CORP
US
N
1
N
N
N
BANK 2017-BNK7
N/A
BANK 2017-BNK8 E 2.8% 11/15/2050 144A
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
COMM 2012-CR1 D CSTR 5/45
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
LANDMARK INFRASTRUCTURE PRTN LP SER B 7.9% PERP PFD
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
ASHTON WOODS USA LLC/FIN CO 9.875% 04/01/2027 144A
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
PEBBLEBROOK HOTEL TR 6.375% SER D PREF PERP
70509V506
55989.00000000
NS
USD
1408123.35000000
0.133973998239
Long
EP
CORP
US
N
1
N
N
N
DIVERSIFIED HEALTHCARE TR
N/A
SENIOR HOUSING PPTYS TR 4.75% 02/15/2028
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
GREYSTAR REAL ESTATE PARTNERS LLC 5.75% 12/01/2025 144A
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
BROOKFIELD RESIDENTIAL PPTYS INC / US CORP 6.25% 09/15/2027 144A
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
VICI PROPERTIES / NOTE 4.625% 12/01/2029 144A
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
NATIXIS COML MTG SECS TR 2018-FL1 WAN1 1ML+275 06/15/2035 144A
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
DBGS MTG TR 2018-C1 C CSTR 10/15/2051
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
ARBOR RLTY TR INC CONV 4.75% 11/01/2022
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
ARBOR REALTY TRUST INC
USD
XXXX
N
N
N
ENERGY TRANSFER LP
MTLVN9N7JE8MIBIJ1H73
ENERGY TRANSFER LP 7.6/VAR PFD PERP
29273V605
100525.00000000
NS
USD
2521167.00000000
0.239873036136
Long
EP
CORP
US
N
1
N
N
N
ISTAR INC
QFFLKWYYS3UPWD86E794
ISTAR FINANCIAL TERM B 1LN 06/28/2023
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
MSC 2011-C3 G CSTR 07/49
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
DCP MIDSTREAM LP 7.95/VAR PERP PFD
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
COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR CSTR 05/10/2050
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
HERSHA HOSPITL 6.875% PFD PERP
427825401
550.00000000
NS
USD
13513.50000000
0.001285723743
Long
EP
CORP
US
N
1
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR RLTY TR I 7.25% PFD PERP
150602407
40856.00000000
NS
USD
1041010.88000000
0.099045577082
Long
EP
CORP
US
N
1
N
N
N
MID AMERICA APTS LP
549300FXWGE3QSYCUJ38
MID AMERICA APTS LP 3.75% 06/15/2024
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
JPMCC COML MTG SECS TR 2016-JP4 CSTR 12/15/2049 144A
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
CTR PARTNERSHIP LP / CARETRUST CAP CORP 3.875% 06/30/2028 144A
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
PROGRESS RESIDENTIAL TRUST 2021-SFR6 4.184954% 07/17/2038 144A
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
CENTERSPACE 6.625% SER C PFD PERP
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
JPMCC 2012-CBX E CSTR 6/45
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
TAYLOR MORRISON CMNTY/ MONARCH 5.875% 06/15/2027 144A
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
NEW HOME CO INC 7.25% 10/15/2025 144A
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
SUNSTONE HOTEL INVS INC SER F 6.45% PFD PERP
867892705
16950.00000000
NS
USD
426423.02000000
0.040571443496
Long
EP
CORP
US
N
1
N
N
N
EG GLOBAL FINANCE PLC
549300TL8Q5207VYET27
EG GLOBAL FINANCE PLC 8.5% 10/30/2025 144A
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
HILTON USA TR 2016-SFP 6.15522% 11/05/2035 144A
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
ACRES COMMERCIAL REALTY CORP 8.625%/VAR PFD PERP
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
INDEPENDENCE PLAZA TR 2018-INDP E 4.996% 07/10/2035 144A
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
RWT HOLDINGS INC CONV 5.75% 10/01/2025
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
REDWOOD TRUST INC REIT
USD
XXXX
N
N
N
WEYERHAEUSER CO
08IRJODWFYBI7QWRGS31
WEYERHAEUSER CO
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
CHC COML MTG TR 2019-CHC F 1ML+280 06/15/2034 144A
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
PENNYMAC MTG INVT TR 8.125/VAR PREF PERP
70931T301
106075.00000000
NS
USD
2813109.00000000
0.267649464241
Long
EP
CORP
US
N
1
N
N
N
TAH 2017
N/A
TAH 2017 5.104% 01/17/2036 144A
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
WFRBS COML MTG TR 2013-C16 CSTR 09/15/2046
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
COMM 2013-LC6 D MTG TR CSTR 01/10/2046 144A
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
GSMS 2011-GC5 D 5.47 8/44
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
MFA FINANCIAL 6.5%/VAR PFD PERP
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
HOME PARTNERS AMER 2018-1 TR 2018-1 F 1ML+235 07/17/2037 144A
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
GS MTG SECS TR 2011-GC5 4.5% 08/10/2044 144A
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
TRI POINTE GROUP INC 5.25% 06/01/2027
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
WFRBS COML MTG TR 2011-C5 VAR 11/15/2044 144A
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
AGNC INVESTMENT CORP SER F 6.125%/VAR PFD PERP
00123Q872
144800.00000000
NS
USD
3670680.00000000
0.349241901185
Long
EP
CORP
US
N
1
N
N
N
READY CAPITAL CORP
549300MYWGZUG7ZUYO87
READY CAPITAL CORP 6.5% PERP PFD
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
VERITAS POOL A MEZZ 1ML+850 11/15/2022
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
JPMCC 2012-CBX G 4.0% 6/45 144A
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
CBL and ASSOCS LP 4.6% 10/15/2024
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
REXFORD INDL RLTY INC SER B 5.875% PERP PFD
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
EXTENDED STAY AMER TR 2021-ESH E 1ML+285 07/15/2038 144A
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
BX COMMERCIAL MORTGAGE TRUST 2021 VINO G 1ML+389.82 05/15/2038 144A
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
GSMS 2012-GC6 D CSTR 1/45
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
ANNALY CAPITAL MANAGEMENT INC 6.5%/VAR PFD PERP
035710862
235110.00000000
NS
USD
6131668.80000000
0.583389363591
Long
EP
CORP
US
N
1
N
N
N
EG GLOBAL FINANCE PLC
549300TL8Q5207VYET27
EG GLOBAL FINANCE PLC 6.75% 02/07/2025 144A
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
PROGRESS RESIDENTIAL 2019-SFR3 TR 3.867% 09/17/2036 144A
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
SABRA HEALTH CA LP/CAPTL CORP 4.8% 06/01/2024
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
GSMS 2013-GC16 D CSTR 11/46
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
PEBBLEBROOK HOTEL TR SER H 5.7% PERP PFD
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
WFRBS 2011-C4 G 5% 06/15/44
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
NATIXIS COML MTG SECS TR 2018-FL1 WAN2 1ML+375 06/15/2035 144A
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
UBSCM 2012-C1 D CSTR 5/45
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
MORGAN STANLEY CAP I TR 2016-BNK2 3% 11/15/2049 144A
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
SG COMMERCIAL MORTGAGE SECURITIES TRUST 2019-PREZ F CSTR 09/15/2039 144A
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
AGNC INVESTMENT CORP 6.875/VAR PERP PFD
00123Q609
130650.00000000
NS
USD
3396900.00000000
0.323193472091
Long
EP
CORP
US
N
1
N
N
N
DIVERSIFIED HEALTHCARE TR
N/A
SENIOR HOUSING PPTYS TR 4.75% 05/01/24
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
GRANITE POINT MORTGAGE TRUST INC CONV 5.625% 12/01/2022 144A
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
GRANITE POINT MORTGAGE TRUST INC
USD
XXXX
N
N
N
GREEN TREE FINANCIAL CORP
N/A
GT 1996-4 M1 7.75% 6/27
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
BX COML MTG TR 2018-IND G 1ML+218.9 11/15/2035 144A
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
GS MTG SECS TR 2021-RENT G 1ML+570 11/21/2023 144A
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
HERSHA HOSPITALITY TR 6.5% PERP PFD
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
GS MTG SECS TR 2016-GS2 2.753% 05/10/2049
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
MHC COML MTG TR 2021-MHC 1ML+260.096 04/15/2038 144A
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
BX TR 2019-OC11 4.075457% 12/09/2041 144A
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
MSJP 2015-HAUL E 5.012% 09/05/2047 144A
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
KKR REAL ESTATE FIN TR INC CONV 6.125% 05/15/2023
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
KKR REAL ESTATE FINANCE TRUST INC
USD
XXXX
N
N
N
DBUBS 2011 LC3
N/A
DBUBS 2011-LC3A D CSTR 8/44
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
APARTMENT INCOME REIT CORP CL A
03750L109
64924.00000000
NS
USD
3417599.36000000
0.325162884799
Long
EC
CORP
US
N
1
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 4.125% 02/01/2029 144A
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
JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP 2018-LAQ E 1ML+300 06/15/2032 144A
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
ANNALY CAPITAL MANAGEMENT INC 6.95%/VAR PERP PFD
035710870
515600.00000000
NS
USD
13457160.00000000
1.280363350374
Long
EP
CORP
US
N
1
N
N
N
VEREIT INC
5493002H54FNIBW75H44
VEREIT INC 6.7% PFD PERP
92339V209
95774.00000000
NS
USD
2393392.26000000
0.227716080716
Long
EP
CORP
US
N
1
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER A 8% PERP PFD
16934Q307
38500.00000000
NS
USD
979825.00000000
0.093224128997
Long
EP
CORP
US
N
1
N
N
N
BRAEMAR HOTELS and RESORTS INC
549300JDUUEBN868C776
BRAEMAR HOTELS and RESORTS INC SER D 8.25% PFD PERP
10482B309
35150.00000000
NS
USD
930069.00000000
0.088490161439
Long
EP
CORP
US
N
1
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC 7.5 PFD PERP G PAR=25
25401T207
242148.00000000
NS
USD
6090022.20000000
0.579426953966
Long
EP
CORP
US
N
1
N
N
N
SITE CENTERS CORP
W2AVA6SODOQ1LCYJQR54
SITE CENTERS CORP
82981J109
146700.00000000
NS
USD
2326662.00000000
0.221367120069
Long
EC
CORP
US
N
1
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSLVNA 7.375% PFD PERP
709102503
56533.00000000
NS
USD
598119.14000000
0.056907239418
Long
EP
CORP
US
N
1
N
N
N
MARRIOTT OWNERSHIP RESORTS INC
BW4532OH033VURR0IT68
MARRIOTT OWNERSHIP RESORTS INC 4.5% 06/15/2029 144A
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
BX COML MTG TR 2019 1ML+198.72 11/25/2028 144A
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
JPMDB COML MTG SECS TR 2018-C8 CSTR 06/15/2051 144A
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
NEXPOINT RESIDENTIAL TRUST INC
65341D102
16100.00000000
NS
USD
949095.00000000
0.090300364566
Long
EC
CORP
US
N
1
N
N
N
REXFORD INDL RLTY INC
549300MSLO0DF0EMX355
REXFORD INDL RLTY INC SER C 5.625% PERP PFD
76169C407
11775.00000000
NS
USD
328875.75000000
0.031290439968
Long
EP
CORP
US
N
1
N
N
N
REDWOOD TRUST INC
DRBV4N1ERQLEMIF11G78
REDWOOD TRUST INC CONV 4.75% 08/15/2023
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
REDWOOD TRUST INC REIT
USD
XXXX
N
N
N
MOTEL 6 TR 2017-M6MZ
N/A
MOTEL 6 TR 2017-M6MZ 1ML+692.65 08/15/2024 144A
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
DYNEX CAP INC
26817Q886
86766.00000000
NS
USD
1514066.70000000
0.144053835482
Long
EC
CORP
US
N
1
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HOSPITALITY TRUST SER F 7.375% PFD PERP
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
ALEN 2021-ACEN F 1ML+500 04/15/2038 144A
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
CHERRY HILL MTG INVT CORP 8.25%/VAR PFD PERP
164651309
56575.00000000
NS
USD
1449451.50000000
0.137906109368
Long
EP
CORP
US
N
1
N
N
N
SABRA HEALTH CARE LP
549300OVKLRFSIQG0H81
SABRA HEALTH CARE LP 5.125% 08/15/2026
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
ASHFORD HO SR D 8.45% PFD PERP
044103406
50274.00000000
NS
USD
1332763.74000000
0.126804009717
Long
EP
CORP
US
N
1
N
N
N
AG MORTGAGE INVESTMENT TR INC
549300SNP0PBR2XTFR48
AG MTG INVT 8.25 PRP
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
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13 D CSTR 11/15/2046 144A
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
SABRA HEALTHCARE REIT INC
78573L106
142800.00000000
NS
USD
2654652.00000000
0.252573286547
Long
EC
CORP
US
N
1
N
N
N
KENNEDY-WILSON INC
5EA4464UK7FM5QNNKL62
KENNEDY-WILSON INC 4.75% 03/01/2029
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
NEW YORK MTG TR 7.75% PFD PRP
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
JPMCC 2020-NNN FFX 4.6254% 01/16/2037 144A
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
GS MTG SECS CORP TR 2018-RIVR G 1ML+260 07/15/2035 144A
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
AMERICAN FINANCE TRUST INC SER A 7.5% PFD PERP
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
GPMT 2018-FL1 LTD / GPMT 2018-FL1 LLC 2018-FL1 D 1ML+295 11/21/35 144A
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
NEW YORK MTG TR INC CONV 6.25% 01/15/2022
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
NEW YORK MORTGAGE TRUST INC
USD
XXXX
N
N
N
CROWN CASTLE INTERNATIONAL CORP
54930012H97VSM0I2R19
CROWN CASTLE INTL CORP
22822V101
44700.00000000
NS
USD
8631123.00000000
0.821196564637
Long
EC
CORP
US
N
1
N
N
N
ISTAR INC
QFFLKWYYS3UPWD86E794
ISTAR INC 4.75% 10/01/2024
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
HILT 2016-HHV F CSTR 11/38 144A
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
GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP 3.75% 12/15/2027 144A
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
HILTON GRAND VACATIONS BORROWER LLC / HILTON GRAND VACATIONS BORROWER INC 6.125% 12/01/2024
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
BCP TR 2021-330N F 1ML+437.5 06/15/2038 144A
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
UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC 6.5% 02/15/2029 144A
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
ASHTON WOODS USA LLC/FIN CO 4.625% 08/01/2029 144A
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
TIMES SQUARE 8.528% 8/26 144A
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
AH4R 2014-SFR3 E 6.418% 12/36
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
BRIGHTSPIRE CAPITAL INC
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
BX COML MTG TR 2020-VIVA 3.54875% 03/09/2044 144A
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
NEW RESIDENTIAL INVESTMENT CRP
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
CREDIT SUISSE COM MTG TR 2021-SOP2 F STEP 06/15/2034 144A
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
BENCHMARK 2019-B14 MTG TR VAR 12/15/2062 144A
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
INVITATION HOMES INC
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
BX COML MTG TR 2018-BIOA F 1ML+247 03/15/2037 144A
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
PROGRESS RESIDENTIAL 2021 4.998% 04/19/2038 144A
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
DBUBS 2011-LC1 MTG TR 4.652% 11/10/2046 144A
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
PROGRESS RESIDENTIAL 2019-SFR4 TR 3.684% 10/17/2036 144A
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
JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP 2018-LAQ 1ML+160 06/15/2032 144A
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
BRAEMAR HOTELS and RESORTS INC 5.5% PERP PFD
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
UNITI GRP/UNITI HLD/CSL 7.875% 02/15/2025 144A
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
DOUGLAS EMMETT INC REIT
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
WFCM 12-LC5 E VAR 4.775603% 10/15/2045 144A
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
ARMOUR RESDNTL REIT INC SER C 7% PERP PFD
042315606
16500.00000000
NS
USD
438570.00000000
0.041727151536
Long
EP
CORP
US
N
1
N
N
N
WASHINGTON REAL ESTATE INVS TR
549300DI34BGS8LVKW95
WASHINGTON REAL ESTATE IVST TR
939653101
120300.00000000
NS
USD
2922087.00000000
0.278018029168
Long
EC
CORP
US
N
1
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER C 7.75/VAR PERP PFD
16934Q505
333766.00000000
NS
USD
8611162.80000000
0.819297478310
Long
EP
CORP
US
N
1
N
N
N
DIVERSIFIED HEALTHCARE TR
N/A
DIVERSIFIED HEALTHCARE TR 9.75% 06/15/2025
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
MID AMERICA APT CMNTY INC
59522J103
89814.00000000
NS
USD
17343083.40000000
1.650084294743
Long
EC
CORP
US
N
1
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER 1 4% PFD PERP
29250N717
99425.00000000
NS
USD
2213200.50000000
0.210571978577
Long
EP
CORP
CA
N
1
N
N
N
MERIT 2021
N/A
MERIT 2021-STOR F 1ML+230 07/15/2038 144A
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
UMH PROPERTIES INC
903002103
37800.00000000
NS
USD
879984.00000000
0.083724891620
Long
EC
CORP
US
N
1
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER E 6.5%/VAR PFD PERP
00123Q807
380250.00000000
NS
USD
9787635.00000000
0.931231340107
Long
EP
CORP
US
N
1
N
N
N
WHEELER REAL ESTATE INVESTMENT TRUST
5493005TOFFG62ETJY29
WHEELER REAL ESTATE INT TR INC 8.75% PC PERP
963025606
7672.00000000
NS
USD
131656.59000000
0.012526288806
Long
EP
CORP
US
N
2
N
N
N
FKH 2021-SFR1 F1
N/A
FKH 2021-SFR1 F1 3.238% 08/17/2038 144A
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
REDWOOD TRUST INC REIT
758075402
37800.00000000
NS
USD
448686.00000000
0.042689624722
Long
EC
CORP
US
N
1
N
N
N
ANNALY CAPITAL MANAGEMENT INC
2DTL0G3FPRYUT58TI025
ANNALY CAPITAL MANAGEMENT INC SER I 6.75/VAR PFD PERP
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
GS MTG SECS TR 2012-GCJ9 E CSTR 11/10/2045 144A
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
BROADMARK REALTY CAPITAL INC
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
J P MORGAN CHASE COML MTG SECS TR 2018-AON-F 4.6132% 07/05/2031 144A
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
Fidelity Cash Central Fund
31635A105
44403397.12500000
NS
USD
44412277.80000000
4.225546311536
Long
STIV
RF
US
N
1
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT
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
COMM 2012-CR2 F 4.25% 8/45
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
GAMING AND LEISURE PROPRTI INC
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
JP MORGAN CH CMS 13-LC11 D CSTR 04/15/2046
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
ARLINGTON ASSET 6.625 PFD 5/1/23
041356304
39038.00000000
NS
USD
976711.24000000
0.092927874499
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL 6.5% PFD PERP
70509V407
73405.00000000
NS
USD
1845401.70000000
0.175578257477
Long
EP
CORP
US
N
1
N
N
N
MONMOUTH REAL ESTATE INVT CORP
549300DFIUDCN3KVN260
MONMOUTH RE INV CORP REIT
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
WFRBS 2011-C5 E CSTR 11/44
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
GLOBAL PARTNERS LP / GLP FIN CORP 7% 08/01/2027
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
CHIMERA INVESTMENT CORP SER B 8%/VAR PREF PERP
16934Q406
472958.00000000
NS
USD
12353662.96000000
1.175372611818
Long
EP
CORP
US
N
1
N
N
N
LEXINGTON CORP PPTYS TR REIT
549300S4MH2ICXDBFV43
LEXINGTON RLTY 6.5 CV PFD PERPPAR=50
529043309
71519.00000000
NS
USD
4324269.75000000
0.411426817027
Long
EP
CORP
US
N
2
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6% SER E PFD PERP
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
COMM 2012-CCRE1 G 2.462% 05/15/2045 144A
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
CTO REALTY GROWTH INC 6.375% PFD PERP
22948Q200
20000.00000000
NS
USD
515600.00000000
0.049056067064
Long
EP
CORP
US
N
1
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HOSPITALITY TRUST INC SER H 7.5% PFD PERP
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
ASHFORD HOSPITALITY TRUST 2018-ASHF 3ML+310 04/15/2035 144A
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
AMERICAN HOMES 4 RENT 5.875% SER G PFD PERP
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
READY CAP MTG FING 2019-FL3 D 1ML+290 03/25/2034 144A
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
UMH PROPERTIES INC 6.75% SER C PFD PERP
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
PKHL COMML MTG 2021-MF E 1ML+235 07/15/2038 144A
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
RETAIL VALUE INC
76133Q102
24066.00000000
NS
USD
588173.04000000
0.055960931139
Long
EC
CORP
US
N
1
N
N
N
NEW RESIDENTIAL INVT CORP
549300WNTHGEO5LP2G31
NEW RESIDENTIAL INVESTMENT CORP SER A 7.5%/VAR PFD PERP
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
BENCHMARK 2020-B18 MORTGAGE TRUST 4.534% 07/15/2053 144A
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
BX TRUST 2019-IMC G 1ML+360 04/15/2034 144A
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
URSTADT BIDDLE PPTYS INC SER H 6.25% PFD PERP
917286882
51175.00000000
NS
USD
1356137.50000000
0.129027874608
Long
EP
CORP
US
N
1
N
N
N
INVESCO MORTGAGE CAPITAL INC
PV3BDP2HFZL2FNXQBL39
INVESCO MORTGAGE CAPITAL INC 7.75% VAR PFD PERP 25
46131B407
301379.00000000
NS
USD
7525433.63000000
0.715997239798
Long
EP
CORP
US
N
1
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TR SER A PC 1.95% PERP
74965L200
38950.00000000
NS
USD
1107738.00000000
0.105394238978
Long
EP
CORP
US
N
2
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS IN SR Q 8.54% PFD PRP
74340W202
16850.00000000
NS
USD
1213200.00000000
0.115428278825
Long
EP
CORP
US
N
1
N
N
N
MONMOUTH REAL ESTATE INVT CORP
549300DFIUDCN3KVN260
MONMOUT 6.125% SER C PERP PFD
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
DIGITALBRIDGE ISSUER LLC / DIGITALBRIDGE CO-ISSUER LLC 3.933% 09/25/2051 144A
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
TWO HARBORS INVESTMENT COR CONV 6.25% 01/15/2026
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
TWO HBRS INVT CORP
USD
XXXX
N
N
N
WP GLIMCHER MALL TR 15-WPG
N/A
JPMDB 2015-WPG PR2 CSTR 06/35
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
PROGRESS RESIDENTIAL 2018-SFR3 F TR 5.368% 10/17/2035 144A
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
AGELLAN PORTFOLIO MEZZ 9% 08/07/2025
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
GREAT AJAX CORP PC 7.25% 4/30/24
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
WELLS FARGO COML MTG TR 2016-NXS6 D 3.059% 11/15/2049 144A
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
BLUEROCK RESIDENTIAL GROWTH REIT INC 7.625% SER C PREF PERP
09627J748
44175.00000000
NS
USD
1133530.50000000
0.107848231627
Long
EP
CORP
US
N
1
N
N
N
BLUEROCK RESIDENTIAL GROWTH REIT INC
549300KWLV0TGICOUU26
BLUEROCK RESIDENTIAL GROWTH REIT INC SER D 7.125% PERP PFD
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
FIVE PT OPER CO LP / FIVE PT PT CAP CORP 7.875% 11/15/2025 144A
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
ARBOR REALTY TRUST INC SER D 6.375% PERP PFD
038923876
13800.00000000
NS
USD
353211.00000000
0.033605784530
Long
EP
CORP
US
N
1
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL INC
55272X102
1731000.00000000
NS
USD
8083770.00000000
0.769119401185
Long
EC
CORP
US
N
1
N
N
N
PENNYMAC MORTGAGE INVESTMENT TRUST
549300BSSOQO1ZWDUJ97
PENNYMAC MTG INVT TR 8%/VAR SER B PREF PERP
70931T400
276005.00000000
NS
USD
7457986.31000000
0.709580055443
Long
EP
CORP
US
N
1
N
N
N
SBA SENIOR FINANCE II LLC
549300PVT2ADFWMYEW87
SBA COMMUNICATIONS TERM B 04/11/2025
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
M/I HOMES INC 5.625% 08/01/2025
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
IMTT 2017-APTS EFX CSTR 06/15/2034 144A
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
COMM 2013-LC6 E MTG TR 3.5% 01/10/2046 144A
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
COMM 2012-CR1 C CSTR 5/45
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
GSMS 2011-GC5 C 5.47 8/44
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
NEW RESIDENTIAL INVESTMENT CORP SER B 7.125%/VAR PFD PERP
64828T409
427786.00000000
NS
USD
10801596.50000000
1.027703340387
Long
EP
CORP
US
N
1
N
N
N
ELLINGTON FINANCIAL INC
60GS1D1R1YY5G1W7IT74
ELLINGTON FINANCIAL INC 6.75/VAR PFD PERP
28852N208
153222.00000000
NS
USD
3939337.62000000
0.374802968337
Long
EP
CORP
US
N
1
N
N
N
AMERICAN FINANCE TRUST INC
549300GN4H0K3IUS8983
AMERICAN FINANCE TRUST INC SER C 7.375% PFD PERP
02607T505
205000.00000000
NS
USD
5412000.00000000
0.514917445599
Long
EP
CORP
US
N
1
N
N
N
GPMT 2019-FL2 LTD
N/A
GPMT 2019-FL2 LTD 1ML+295 02/22/2036 144A
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
MSC 2011-C3 E CSTR 7/15/49 144A
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
GLOBAL PARTNERS LP SER B 9.5% PERP PFD
37946R307
12200.00000000
NS
USD
333548.00000000
0.031734974897
Long
EP
CORP
US
N
1
N
N
N
ISTAR INC
QFFLKWYYS3UPWD86E794
ISTAR INC 5.5% 02/15/2026
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
GSMS 2011-GC5 E CSTR 8/44
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
DIAMOND INFRASTRUCTURE FUNDING LLC 3.475% 04/15/2049 144A
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
MSC 2012-C4 D 5.711069 3/45
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
PPGLP 2000-C1 A2 7.75% 7/28
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
MOTEL 6 TR 2017-MTL6 1ML+425 08/15/2034 144A
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
FORESTAR GROUP INC 3.85% 05/15/2026 144A
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
WFRBS 2011-C3 E 5% 3/44
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
DIGITALBRIDGE GROUP INC 7.15% SER I PERP PFD
25401T405
285785.00000000
NS
USD
7293233.20000000
0.693904842850
Long
EP
CORP
US
N
1
N
N
N
AG MORTGAGE INVESTMENT TR INC
549300SNP0PBR2XTFR48
AG MTG INVT 8% PFD PRP
001228303
144509.00000000
NS
USD
3628620.99000000
0.345240253366
Long
EP
CORP
US
N
1
N
N
N
EQUITY LIFESTYLE PROPERTIES INC
529900PEQG66LENB6798
EQUITY LIFESTYLE PPTYS INC
29472R108
261000.00000000
NS
USD
21871800.00000000
2.080962931756
Long
EC
CORP
US
N
1
N
N
N
GLADSTONE LD CORP
54930002B3Q17H38FG74
GLADSTONE LAND CORP SER D 5% PFD 01/31/26
376549507
60000.00000000
NS
USD
1557000.00000000
0.148138666444
Long
EP
CORP
US
N
1
N
N
N
BANK 2018-BNK12
N/A
BANK 2018-BNK12 D 3% 05/15/2061 144A
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
MORGAN STANLEY CAP I TR 2015 4.163% 5/15/48
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
CSAIL 2017-C8 COML MTG TR 4.47% 06/15/2050 144A
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
WFRBS COML MTG TR 2011-C5 F CSTR VAR 11/15/2044 144A
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
CD 2017-CD3 D 3.25% 02/10/2050 144A
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
MSBAM 2013-C13 E CSTR 11/15/46 144A
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
UBSCM 2012-C1 E CSTR 05/45
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
AMERICAN HOMES 4 RENT SER H 6.25% PERP PFD
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
CLEAR CHANNEL OUTDOOR HOLDINGS INC 7.75% 04/15/2028 144A
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
GSMS 2012-GC6 E 5% 01/45
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
TPGI 2021-DGWD G 1ML+380 06/15/2026 144A
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
CSAIL 2017-CX9 D CSTR 09/15/2050 144A
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
SOTHERLY HOTELS INC SER B 8% PERP PFD
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
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2016-C30 D 3% 09/15/2049 144A
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
PLAYA RESORTS TERM B 04/27/2024
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
RLJ LODGING TR 3.75% 07/01/2026 144A
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
NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST 4.2988% 10/15/2036 144A
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
MSC 2011-C2 XB CSTR 6/44
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
DIGITALBRIDGE GROUP INC 7.125% SER J PFD PERP
25401T306
345049.00000000
NS
USD
8871209.79000000
0.844039298678
Long
EP
CORP
US
N
1
N
N
N
GREAT AJAX CORP
5493004ID2QQWNGDYC18
GREAT AJAX CORP
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
BX COML MTG TR 2020-VIVA CSTR 03/09/2044 144A
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
ASHFORD HOSPITALITY TRUST INC SER I 7.5% PFD PERP
044103885
58911.00000000
NS
USD
1532275.11000000
0.145786250110
Long
EP
CORP
US
N
1
N
N
N
AMERICAN HOMES 4 RENT LP
549300N4PXZ37U8QKI55
AMERICAN HOMES 4 RENT LP 4.25% 02/15/2028
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
MPT OPER PARTNERSHIP LP/CORP 4.625% 08/01/2029
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
BROOKFIELD PROPERTY PARTN LP 6.5% PERP PFD
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
SREIT TR 2021-FLWR E 1ML+192.4 07/15/2036 144A
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
MARRIOTT OWNERSHIP RESORTS INC / ILG LLC 6.5% 09/15/2026
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
MORGAN STANLEY CAP I TR 2011-C3 F CSTR 07/15/2049 144A
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
ISTAR INC 7.65 PFD PERP GPAR=25
45031U705
145700.00000000
NS
USD
3817340.00000000
0.363195669213
Long
EP
CORP
US
N
1
N
N
N
BROOKFIELD OFFICE PROPERTIES INC
36ZUFRRMJERSM4Q0S289
BROOKFIELD OFFICE PROPERTIES INC 5.1/VAR SER EE PERP PFD
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
TRICON AMERN HOMES 2018-SFR1 F 4.96% 05/17/2037 144A
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
CBL and ASSOCS LP 5.95% 12/15/26
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
JPMCC 2012-CBX C CSTR 6/45
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
HEALTHCARE TRUST INC SER A 7.375% PFD PERP
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
CLEAR CHANNEL OUTDOOR HOLDINGS INC 7.5% 06/01/2029 144A
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
COMM 2012-CR2 D CSTR 8/45
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
READY CAPITAL CORP 6.2% PFD 07/30/26
75574U408
136450.00000000
NS
USD
3614560.50000000
0.343902486996
Long
EP
CORP
US
N
1
N
N
N
LGI HOMES INC
549300W02B4WNV8CV109
LGI HOMES INC 4% 07/15/2029 144A
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
ASHFORD HOSPITALITY TRUST INC SER G 7.375% PFD PERP
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
COMM 2012-LC4 C CSTR 12/44
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
MSBAM 2013 - C9 C 4.2117% 5/46
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
MRCD 2019-PARK G 4.25% 12/15/2036 144A
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
LABMH 2001-B M2 7.17% 3/28
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
ISTAR INC 4.25% 08/01/2025
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
AG MORTTGAGE INVVESTMENT TRUST SER C 8% PFD PRP
001228402
103493.00000000
NS
USD
2558346.96000000
0.243410473318
Long
EP
CORP
US
N
1
N
N
N
AMR HMS 15-SFR2
N/A
AMERICAN HOMES 4 RENT 2015-SFR2 TR 6.07% 10/17/2052 144A
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
BROOKFIELD INFRA PARTNERS LP 5.35% SER 5 PREF PERP
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
WFRBS 2012-C8 E CSTR 8/45
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
SELECT INCOME REIT 4.15% 02/01/2022
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
ARLINGTON ASSET INVT CORP 8.25% PFD PERP
041356700
22175.00000000
NS
USD
556814.25000000
0.052977341331
Long
EP
CORP
US
N
1
N
N
N
CONSECO FIN SECURITIZATNS CORP
N/A
CNF 2002-2 M2 9.163% 3/33
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
AMERICAN TOWER CORP
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
JPMBB 2014-C23 UH5 4.7094% 09/15/2047 144A
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
GLP CAP LP / GLP FING II INC 5.25% 06/01/2025
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
GSMS 2012-GC6 C CSTR 1/45
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
MPT OPER PARTNERSHIP LP/CORP 5% 10/15/2027
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
CHERRY HILL MTG INVT CORP 8.2% SER A PFD PERP
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
REALOGY GROUP LLC / REALOGY CO-ISSUER CORP 5.75% 01/15/2029 144A
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
JPMBB 2014-C26 D CSTR 01/15/2048 144A
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
MSC 2011-C2 D CSTR 6/44
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
OMEGA HEALTHCARE INVESTORS INC 5.25% 01/15/2026
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
SUNSTONE HOTEL INVS INC SER H 6.125% PFD PERP
867892804
20000.00000000
NS
USD
536600.00000000
0.051054083759
Long
EP
CORP
US
N
1
N
N
N
LANDMARK INFRASTRUCTURE PARTNERS LP
549300I3H10A778Y4H45
LANDMARK INFRASTRUCTURE PRTN LP SER C VAR PERP PFD
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
HOME PARTNERS AMER 2017-1 TR 1ML+353.9 07/17/2034 144A
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
GT 1997-3 M1 7.53% 3/28
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
TPGI 2021-DGWD G 1ML+ 06/15/2026 144A
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
OMEGA HEALTHCARE INVESTORS INC 4.5% 04/01/2027
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
NEW YORK MORTGAGE TRUST SER D 8%/VAR PFD PERP
649604881
78000.00000000
NS
USD
1982760.00000000
0.188647027796
Long
EP
CORP
US
N
1
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC SER H 7.125% PERP PFD
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
MORGAN STAN BAML TR-2012-C6 VAR 11/15/2045 144A
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
CSMC 2020-NET F CSTR 08/15/2037 144A
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
DIAMONDROCK HOSPITALITY CO 8.25% PFD PERP
252784400
34900.00000000
NS
USD
1037577.00000000
0.098718865198
Long
EP
CORP
US
N
1
N
N
N
AVALONBAY COMMUNITIES INC
K9G90K85RBWD2LAGQX17
AVALONBAY COMMUNITIES INC REIT
053484101
9200.00000000
NS
USD
2096036.00000000
0.199424520141
Long
EC
CORP
US
N
1
N
N
N
BX TRUST
N/A
BX TRUST 1ML+233.66 10/15/2036 144A
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
MSC 1998-CF1 G 7.35% 7/32
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
ELLINGTON RESIDENTIAL MTG REIT
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
MSC 2011-C2 F CSTR 6/44
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
WFCM 2012-LC5 D CSTR 10/45
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
LAMAR ADVERTISING CO CL A
512816109
25100.00000000
NS
USD
2675660.00000000
0.254572064392
Long
EC
CORP
US
N
1
N
N
N
CSMC 2020-NET
N/A
CSMC 2020-NET VAR 08/15/2037 144A
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
CEDAR REALTY TRUST INC SER C 6.50% PFD PERP
150602506
53500.00000000
NS
USD
1374415.00000000
0.130766862711
Long
EP
CORP
US
N
1
N
N
N
WASHINGTON PRIME GROUP LP
549300K4BNOIQ154O537
WASHINGTON PRIME GROUP LP 5.95% 08/15/2024
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