0001752724-22-219180.txt : 20220927 0001752724-22-219180.hdr.sgml : 20220927 20220927143825 ACCESSION NUMBER: 0001752724-22-219180 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220731 FILED AS OF DATE: 20220927 DATE AS OF CHANGE: 20220927 PERIOD START: 20220731 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: 221270386 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 0000754510 S000007192 Fidelity Real Estate Income Fund C000019680 Fidelity Real Estate Income Fund FRIFX C000087887 Fidelity Advisor Real Estate Income Fund: Class A FRINX C000087889 Fidelity Advisor Real Estate Income Fund: Class C FRIOX C000087890 Fidelity Advisor Real Estate Income Fund: Class M FRIQX C000087891 Fidelity Advisor Real Estate Income Fund: Class I FRIRX C000205040 Fidelity Advisor Real Estate Income Fund: Class Z FIKMX NPORT-P 1 primary_doc.xml NPORT-P false 0000754510 XXXXXXXX S000007192 C000019680 C000205040 C000087890 C000087887 C000087889 C000087891 Fidelity Securities Fund 811-04118 0000754510 LIUMB3NDWOFJPXVROE85 245 Summer Street Boston 02210 1-800-FIDELITY Fidelity Real Estate Income Fund S000007192 KYIURORXMOJZHC2FKE02 2022-07-31 2022-07-31 N 5981060043.33 23395717.00 5957664326.33 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 13547936.22000000 USD N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 DIGITAL REALTY TRUST INC 253868103 69400.00000000 NS USD 9192030.00000000 0.154289155892 Long EC CORP US N 1 N N N EQUINIX INC 549300EVUN2BTLJ3GT74 EQUINIX INC 3.2% 11/18/2029 29444UBE5 5000000.00000000 PA USD 4608131.60000000 0.077347956306 Long DBT CORP US N 2 2029-11-18 Fixed 0.03200000 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 PUBLIC STORAGE SER S 4.1% PFD PERP 74460W396 200000.00000000 NS USD 4054000.00000000 0.068046801194 Long EP CORP US N 1 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 4671000.00000000 PA USD 323736.73000000 0.005433953849 Long ABS-MBS CORP US N 2 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 14973000.00000000 PA USD 14251175.63000000 0.239207428438 Long ABS-MBS CORP US N 2 2037-12-15 Variable 0.05249000 N N N N N N SERITAGE GROWTH PPTYS 5493003CJFC2MM82WB25 SERITAGE GROWTH PPTYS SER A 7% PERP PFD 81752R308 91986.00000000 NS USD 2089002.06000000 0.035064111463 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 2000000.00000000 PA USD 1798673.40000000 0.030190915457 Long ABS-MBS CORP US N 2 2045-10-15 Variable 0.04727183 N N N N N N BX TRUST N/A BX 2022-LP2 G TSFR1M+411.27 02/15/39 144A 05610HAN3 5136037.66000000 PA USD 4707644.87000000 0.079018296636 Long ABS-MBS CORP US N 2 2039-02-15 Variable 0.06206800 N N N N N N Morgan Stanley Capital I Trust N/A Morgan Stanley Capital I Trust 3.536% 02/15/2053 61770KBC8 2765000.00000000 PA USD 2377871.80000000 0.039912819349 Long ABS-MBS CORP US N 2 2053-02-15 Fixed 0.03536000 N N N N N N EQUINIX INC 549300EVUN2BTLJ3GT74 EQUINIX INC 29444U700 96500.00000000 NS USD 67910910.00000000 1.139891512515 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 2221350.00000000 PA USD 113532.98000000 0.001905662584 Long ABS-MBS CORP US N 2 2045-05-10 Variable 0.05000000 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 ISTAR INC 45031U101 77413.00000000 NS USD 1293571.23000000 0.021712724301 Long EC CORP US N 1 N N N BENCHMARK 2019-B13 MTG TR N/A BENCHMARK 2019-B13 A4 2.952% 08/15/2057 08162DAE8 19715000.00000000 PA USD 18550050.51000000 0.311364479331 Long ABS-MBS CORP US N 2 2057-08-15 Fixed 0.02952000 N N N N N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 PENNSYLVANIA REAL EST INVT TR 7.2% PERP PFD C 709102602 50325.00000000 NS USD 172614.75000000 0.002897356086 Long EP CORP US N 1 N N N BANK 2022-BNK41 N/A BANK 2022-BNK41 CSTR 04/15/2065 06540MCA1 4433000.00000000 PA USD 3733686.27000000 0.062670302747 Long ABS-MBS CORP US N 2 2065-04-15 Variable 0.03789947 N N N N N N GS MTG SECS TR 2021-GSA3 N/A GS MTG SECS TR 2021-GSA3 2.6183% 12/15/2054 36263UAN9 12657000.00000000 PA USD 11220725.41000000 0.188341014118 Long ABS-MBS CORP US N 2 2054-12-15 Fixed 0.02618300 N N N N N N BRE/EVERBRIGHT M6 BORROWER LLC N/A MOTEL 6 TERM B 1LN 09/09/2026 05601QAB0 9855525.00000000 PA USD 9551679.16000000 0.160325903522 Long LON CORP US N 2 2026-09-09 Variable 0.07346000 N N N N N N SERVICE PROPERTIES TRUST 529900IS770AG1K9QG27 SERVICE PPTYS TR 4.65% 03/15/2024 44106MAS1 3500000.00000000 PA USD 3182865.00000000 0.053424711861 Long DBT CORP US N 2 2024-03-15 Fixed 0.04650000 N N N N N N WFRBS COML MTG TR 2013-C11 N/A WFRBS 2013-C11 D CSTR 3/45 92937EAJ3 5765000.00000000 PA USD 5566006.61000000 0.093425985505 Long ABS-MBS CORP US N 2 2045-03-15 Variable 0.04229479 N N N N N N OFFICE PROPERTIES INCOME TRUST N/A OFFICE PROPERTIES INCOME TRUST 4.5% 02/01/2025 81618TAC4 21056000.00000000 PA USD 19802956.39000000 0.332394631608 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 11900000.00000000 PA USD 11142446.00000000 0.187027086282 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 2500000.00000000 PA USD 2333795.00000000 0.039172985790 Long ABS-MBS CORP US N 3 2045-11-15 Variable 0.04573752 N N N N N N MSC 2021-L7 A3 N/A MSC 2021-L7 A5 2.574% 10/15/2054 61772TBH6 10055000.00000000 PA USD 8958176.47000000 0.150363900671 Long ABS-MBS CORP US N 2 2054-10-15 Fixed 0.02574000 N N N N N N CSAIL 2019-C15 COML MTG TR N/A CSAIL 2019-C15 COML MTG TR 4.0529% 03/15/2052 22945DAG8 9425000.00000000 PA USD 9408224.44000000 0.157918001496 Long ABS-MBS CORP US N 2 2052-03-15 Fixed 0.04052900 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 TWO HBRS INVT CORP SR C 7.25/VAR PERP PFD 90187B507 1644079.00000000 NS USD 35199731.39000000 0.590831061670 Long EP CORP US N 1 N N N CENTURY CMNTYS INC 5299002QMB2O7ZL1CA26 CENTURY COMMUNITIES INC 6.75% 06/01/2027 156504AL6 4670000.00000000 PA USD 4745934.20000000 0.079660986924 Long DBT CORP US N 2 2027-06-01 Fixed 0.06750000 N N N N N N CREDIT SUISSE MORTGAGE TRUST 2021 N/A CREDIT SUISSE MORTGAGE TRUST 2021-BRIT A 1ML+345.92 05/15/2023 144A 12658RAA8 9280000.00000000 PA USD 8764398.56000000 0.147111318797 Long ABS-MBS CORP US N 2 2023-05-15 Variable 0.05532680 N N N N N N DBCCRE 2014-ARCP MORTGAGE TRUST N/A DBCCRE 2014-ARCP MORTGAGE TRUST VAR 01/10/2034 144A 23305MAL9 10732000.00000000 PA USD 9935415.15000000 0.166766951036 Long ABS-MBS CORP US N 2 2034-01-10 Variable 0.04934500 N N N N N N EXTRA SPACE STORAGE INC N/A EXTRA SPACE STORAGE INC 30225T102 137200.00000000 NS USD 26002144.00000000 0.436448624422 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 4250000.00000000 PA USD 3985033.75000000 0.066889195693 Long DBT CORP US N 2 2028-08-15 Fixed 0.04625000 N N N N N N MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C9 549300PFVBG5704L7K74 MSBAM 13-C9 D CSTR 5/15/46 61762DAG6 5137000.00000000 PA USD 4791438.12000000 0.080424774837 Long ABS-MBS CORP US N 2 2046-05-15 Variable 0.04106035 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 PUBLIC STORAGE 4% PFD PERP 74460W420 295000.00000000 NS USD 5873450.00000000 0.098586453990 Long EP CORP US N 1 N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 NEW RESIDENTIAL INVESTMENT CORP SER C 6.375%/VAR PFD PERP 64828T508 1149554.00000000 NS USD 23106035.40000000 0.387837147821 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 15845478.84700000 PA USD 15566983.46000000 0.261293396326 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.05700000 N N N N N N SREIT TR 2021-MFP N/A SREIT TR 2021-MFP G 1ML+297.38 11/15/2038 144A 78472UAN8 13874000.00000000 PA USD 12902820.00000000 0.216575142425 Long ABS-MBS CORP US N 2 2038-11-15 Variable 0.04972940 N N N N N N ARMADA HOFFLER PROPERTIES INC 549300WQRSIV6XZT9313 ARMADA HOFFLER PPTYS INC SER A 6.75% PFD PERP 04208T207 255050.00000000 NS USD 6580290.00000000 0.110450835085 Long EP CORP US N 1 N N N HEALTHCARE REALTY TRUST INC 549300L0I14L7I0VLX84 HEALTHCARE REALTY TRUST INC 42226K105 209860.00000000 NS USD 5508825.00000000 0.092466186382 Long EC CORP US N 1 N N N CITIGROUP COML MTG TR 2013-GC15 N/A CITIGROUP COML MTG TR 2013-GC15 D CSTR 09/10/2046 144A 17321JAP9 5254000.00000000 PA USD 5010177.62000000 0.084096339531 Long ABS-MBS CORP US N 2 2046-09-10 Variable 0.05173449 N N N N N N COMM 2017-COR2 N/A COMM 2017-COR2 D 3% 09/10/2050 144A 12595EAN5 2769000.00000000 PA USD 2174725.53000000 0.036502988602 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 94125.00000000 NS USD 2445367.50000000 0.041045741519 Long EP CORP US N 1 N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 OMEGA HEALTHCARE INVESTORS INC 4.95% 04/01/2024 681936BB5 2866000.00000000 PA USD 2875621.99000000 0.048267606774 Long DBT CORP US N 2 2024-04-01 Fixed 0.04950000 N N N N N N VASA TR 2021-VASA N/A VASA TR 2021-VASA F 1ML+390 04/15/2060 144A 92230AAL0 6685000.00000000 PA USD 6311620.69000000 0.105941193465 Long ABS-MBS CORP US N 2 2039-07-15 Variable 0.05899000 N N N N N N XHR LP 549300M88BPT83ZL2164 XHR LP 6.375% 08/15/2025 144A 98372MAA3 4250000.00000000 PA USD 4280217.50000000 0.071843884877 Long DBT CORP US N 2 2025-08-15 Fixed 0.06375000 N N N N N N PENNYMAC MORTGAGE INVESTMENT TRUST 549300BSSOQO1ZWDUJ97 PENNYMAC MTG INVT TR 6.75% PERP PFD 70931T509 240000.00000000 NS USD 5107200.00000000 0.085724870020 Long EP CORP US N 1 N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 UMH PPTYS INC 6.75% SER D PFD PERP 903002509 601125.00000000 NS USD 15316665.00000000 0.257091775585 Long EP CORP US N 1 N N N REDWOOD TRUST INC DRBV4N1ERQLEMIF11G78 REDWOOD TRUST INC CONV 5.625% 07/15/2024 758075AD7 41580000.00000000 PA USD 37003809.98000000 0.621112703789 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 247075.00000000 NS USD 5635780.75000000 0.094597151522 Long EP CORP US N 1 N N N OFFICE PROPERTIES INCOME TRUST N/A OFFICE PROPERTIES INCOME TRUST 4.25% 05/15/2024 81618TAE0 4974000.00000000 PA USD 4794670.19000000 0.080479025459 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 11371000.00000000 PA USD 1.14000000 0.000000019135 Long DBT CORP US N 3 2023-12-01 Fixed 0.05250000 Y Y N N N N EASTERLY GOVERNMENT PROPERTIES INC 549300ERMCEFC6S8HL77 EASTERLY GOVERNMENT PROPERTIES INC 27616P103 1161600.00000000 NS USD 23545632.00000000 0.395215821340 Long EC CORP US N 1 N N N LXP INDUSTRIAL TRUST 549300S4MH2ICXDBFV43 LXP INDUSTRIAL TRUST REIT 529043101 5265874.00000000 NS USD 57766637.78000000 0.969618874374 Long EC CORP US N 1 N N N VICI PROPERTIES LP 254900X4QE7SGKQLLN38 VICI PROPERTIES LP 5.125% 05/15/2032 925650AD5 27000000.00000000 PA USD 26832870.00000000 0.450392444592 Long DBT CORP US N 2 2032-05-15 Fixed 0.05125000 N N N N N N WFRBS COML MTG TR 2011-C3 N/A WFRBS 2011-C3 D CSTR 3/44 92935VAS7 1543666.86000000 PA USD 657602.08000000 0.011037917613 Long ABS-MBS CORP US N 2 2044-03-15 Variable 0.22813291 N N N N N N VORNADO REALTY TRUST N/A VORNADO REALTY TRUST SER N 5.25% PERP PFD 929042810 147400.00000000 NS USD 3371038.00000000 0.056583214752 Long EP CORP US N 1 N N N ADAMS HOMES INC N/A ADAMS HOMES INC 7.5% 02/15/2025 144A 00623PAA9 9530000.00000000 PA USD 8338750.00000000 0.139966764544 Long DBT CORP US N 2 2025-02-15 Fixed 0.07500000 N N N N N N BX TR 2022-LBA6 N/A BX TR 2022-LBA6 TSFR1M+420 01/15/2039 144A 12433EAS0 11340000.00000000 PA USD 10632755.95000000 0.178471887095 Long ABS-MBS CORP US N 2 2039-01-15 Variable 0.06158580 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 DIGITALBRIDGE GROUP INC 25401T108 1566855.00000000 NS USD 8586365.40000000 0.144123014149 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 4541274.76380000 PA USD 45.41000000 0.000000762211 Long ABS-CBDO CORP US N 3 2052-10-17 Variable 0.00000000 N N N N N N CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATE N/A CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATES 1ML+371.44 08/15/2023 144A 12659XAA4 18000000.00000000 PA USD 17130414.60000000 0.287535746589 Long ABS-MBS CORP US N 2 2023-08-15 Variable 0.05714400 N N N N N N CENTURY CMNTYS INC 5299002QMB2O7ZL1CA26 CENTURY COMMUNITIES INC 3.875% 08/15/2029 144A 156504AM4 13005000.00000000 PA USD 11072775.23000000 0.185857655340 Long DBT CORP US N 2 2029-08-15 Fixed 0.03875000 N N N N N N BBCMS 2022 N/A BBCMS 2022-C15 C CSTR 04/15/2055 05552FBG1 3094000.00000000 PA USD 2631615.31000000 0.044171929901 Long ABS-MBS CORP US N 2 2055-04-15 Variable 0.03831341 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 3955000.00000000 PA USD 3768511.86000000 0.063254853808 Long ABS-MBS CORP US N 2 2045-05-15 Variable 0.04145348 N N N N N N PLYMOUTH INDUSTRIAL REIT INC N/A PLYMOUTH INDL REIT INC SER A STEP PFD PERP 729640201 171625.00000000 NS USD 4393600.00000000 0.073747021640 Long EP CORP US N 1 N N N TERRENO RLTY CORP N/A TERRENO REALTY CORP 88146M101 380828.00000000 NS USD 23858874.20000000 0.400473623439 Long EC CORP US N 1 N N N OPG TR 2021-PORT N/A OPG TR 2021-PORT 1ML+343.6 10/15/2036 144A 67118AAU9 12482000.00000000 PA USD 11545854.99000000 0.193798347096 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.05345000 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 MFA FINANCIAL INC CONV 6.25% 06/15/2024 55272XAA0 11700000.00000000 PA USD 10533931.55000000 0.176813109517 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 GS MTG SECS TR 2012-GCJ9 N/A GS MTG SECS TR 2012-GCJ9 VAR 11/10/2045 144A 36192PAK2 5503000.00000000 PA USD 5321003.68000000 0.089313586475 Long ABS-MBS CORP US N 2 2045-11-10 Variable 0.04662376 N N N N N N POSTAL REALTY TRUST INC 5493007B7ZZSIJRGWC41 POSTAL REALTY TRUST INC 73757R102 878500.00000000 NS USD 14829080.00000000 0.248907611905 Long EC CORP US N 1 N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 ENBRIDGE INC SER L 4/VAR PFD PERP 29250N790 111400.00000000 NS USD 2656890.00000000 0.044596168136 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 5000000.00000000 PA USD 4833050.00000000 0.081123234463 Long LON CORP US N 2 2025-08-21 Variable 0.05122290 N N N N N N GS MTG SECS TR 2013-GCJ16 N/A GSMS 2013-GC16 F 3.5% 11/10/2046 36248GAT7 7221000.00000000 PA USD 5527424.21000000 0.092778376008 Long ABS-MBS CORP US N 3 2046-11-10 Fixed 0.03500000 N N N N N N WELLTOWER INC T6IZ0MBEG5ACZDTR7D06 WELLTOWER INC 95040Q104 709200.00000000 NS USD 61232328.00000000 1.027790836240 Long EC CORP US N 1 N N N DCP MIDSTREAM LP 52990024YYS3MLGW0E91 DCP MIDSTREAM LP SER B 7.875/VAR PFD PERP 23311P209 256314.00000000 NS USD 6223303.92000000 0.104458787523 Long EP CORP US N 1 N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 ENERGY TRANSFER LP 7.125/VAR PERP 29273VAM2 6000000.00000000 PA USD 5400000.00000000 0.090639547718 Long EP CORP US N 2 N N N SREIT TR 2021-IND N/A SREIT TR 2021-IND G 1ML+343.21 10/15/2038 144A 78473JAS1 21754000.00000000 PA USD 19615831.97000000 0.329253729239 Long ABS-MBS CORP US N 3 2038-10-15 Variable 0.05264775 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 PEBBLEBROOK HOTEL TR SER F 6.3% PERP PFD 70509V704 271897.00000000 NS USD 6172061.90000000 0.103598685020 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 4727000.00000000 PA USD 4449139.85000000 0.074679263656 Long ABS-MBS CORP US N 3 2045-03-15 Variable 0.04229479 N N N N N N BENCHMARK 2022-B35 MTG TR N/A BENCHMARK 2022-B35 MTG TR 4.59391% 05/15/2055 08163RBV7 9500000.00000000 PA USD 8312029.75000000 0.139518262438 Long ABS-MBS CORP US N 2 2055-05-15 Variable 0.04445654 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 8161000.00000000 PA USD 408288.30000000 0.006853160527 Long ABS-MBS CORP US N 3 2027-06-10 Variable 0.03804600 N N N N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A JP MORGAN CHASE CMS TR 12-CIBX 4.0% 06/15/2045 144A 46637WAS2 8192000.00000000 PA USD 2019001.14000000 0.033889138921 Long ABS-MBS CORP US N 3 2045-06-15 Fixed 0.04000000 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 4538000.00000000 PA USD 4379092.85000000 0.073503517656 Long ABS-MBS CORP US N 2 2046-03-15 Variable 0.05024268 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 4265000.00000000 PA USD 3765992.44000000 0.063212565087 Long ABS-MBS CORP US N 2 2033-09-15 Variable 0.05049000 N N N N N N GLADSTONE COMMERCIAL CORP 529900EVVV534W8R0T32 GLADSTONE COMMERCIAL CORP SER E 6.625% PFD 12/31/2049 376536702 108675.00000000 NS USD 2717961.75000000 0.045621263655 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 4.625% 04/01/2030 144A 045086AP0 6840000.00000000 PA USD 5193381.97000000 0.087171443128 Long DBT CORP US N 2 2030-04-01 Fixed 0.04625000 N N N N N N MORGAN STANLEY CAP I TR 2015-UBS8 N/A MSC 2015-UBS8 D 3.18% 12/48 144A 61691AAQ6 3051000.00000000 PA USD 2250150.64000000 0.037769006723 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 510426.00000000 NS USD 8743597.38000000 0.146762168881 Long EC CORP US N 1 N N N BX TRUST N/A BX TRUST 2021-SOAR J 3.85% 06/15/2023 144A 05608WAU8 18862115.63000000 PA USD 17760424.73000000 0.298110530522 Long ABS-MBS CORP US N 2 2038-06-15 Variable 0.05750000 N N N N N N PENNYMAC CORP EWN0I878407TKQNXZ933 PENNYMAC CORP CONV 5.5% 03/15/2026 70932AAF0 2000000.00000000 PA USD 1790000.00000000 0.030045331558 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 BX COMMERCIAL MORTGAGE TRUST 2021-PAC N/A BX COMMERCIAL MORTGAGE TRUST 2021-PAC G 1ML+262.21 10/15/2036 144A 05609PAS7 17232000.00000000 PA USD 15943294.54000000 0.267609815973 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.04946100 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 TWO HARBORS INVT CORP 8.125% SER A PERP PFD 90187B200 669796.00000000 NS USD 16061708.08000000 0.269597399252 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 69225.00000000 NS USD 1579721.42000000 0.026515784264 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 7317000.00000000 PA USD 7013814.25000000 0.117727583593 Long ABS-MBS CORP US N 2 2049-07-15 Variable 0.05084196 N N N N N N COMM 2013-CCRE10 MTG TR 549300YJIXJB9DCDOI21 COMM 2013-CCRE10 D MTG TR CSTR 08/10/2046 144A 12626BAW4 4544000.00000000 PA USD 4360542.82000000 0.073192153521 Long ABS-MBS CORP US N 2 2046-08-10 Variable 0.04869253 N N N N N N WFRBS COML MTG TR 2012-C7 N/A WFRBS 2012-C7 D 4.8512% 6/45 92936TAJ1 2380000.00000000 PA USD 1106700.00000000 0.018576071751 Long ABS-MBS CORP US N 3 2045-06-15 Variable 0.04693533 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 5944000.00000000 PA USD 5613612.86000000 0.094225061240 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.06350000 N N N N N N BANK 2022-BNK42 N/A BANK 2017-BNK4 2.5% 06/15/2055 144A 06541MAL8 2000000.00000000 PA USD 1278941.80000000 0.021467167835 Long ABS-MBS CORP US N 2 2055-06-15 Fixed 0.02500000 N N N N N N CAESARS ENTERTAINMENT INC 5299000BKFWWVND5L441 CAESARS ENTERTAINMENT INC 8.125% 07/01/2027 144A 28470RAK8 16465000.00000000 PA USD 16465000.00000000 0.276366695035 Long DBT CORP US N 2 2027-07-01 Fixed 0.08125000 N N N N N N HEALTHCARE TRUST INC 549300Z2NSUGF5NF2Y30 HEALTHCARE TRUST INC 7.125% PERP PFD 42226B303 190000.00000000 NS USD 4275000.00000000 0.071756308610 Long EP CORP US N 1 N N N BX TR 2022-LBA6 N/A BX TR 2022-LBA6 TSFR1M+335 01/15/2039 144A 12433EAQ4 6200000.00000000 PA USD 5813072.88000000 0.097573017907 Long ABS-MBS CORP US N 2 2039-01-15 Variable 0.05308580 N N N N N N SAUL CENTERS INC N/A SAUL CENTERS INC 6.125% SER D PFD PERP 804395804 82775.00000000 NS USD 1999844.00000000 0.033567584383 Long EP CORP US N 1 N N N NATIONAL RETAIL PROPERTIES INC 5493008JKH5SOTI0JS97 NATIONAL RETAIL PROPERTIES INC 637417106 115400.00000000 NS USD 5494194.00000000 0.092220603563 Long EC CORP US N 1 N N N AGREE REALTY CORP N/A AGREE REALTY CORP 4.375% PERP PFD 008492209 240000.00000000 NS USD 4718400.00000000 0.079198822584 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 22890000.00000000 PA USD 19227600.00000000 0.322737216244 Long DBT CORP US N 2 2031-07-01 Fixed 0.04875000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 DIGITALBRIDGE GROUP INC CONV 5% 04/15/2023 19624RAA4 21416000.00000000 PA USD 20929718.02000000 0.351307439855 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 LP 549300N4PXZ37U8QKI55 AMERICAN HOMES 4 RENT LP 3.625% 04/15/2032 02666TAE7 7000000.00000000 PA USD 6346896.78000000 0.106533306214 Long DBT CORP US N 2 2032-04-15 Fixed 0.03625000 N N N N N N SABRA HEALTH CARE LP 549300OVKLRFSIQG0H81 SABRA HEALTH CARE LP 3.9% 10/15/2029 78572XAG6 989000.00000000 PA USD 889782.86000000 0.014935095555 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 107000.00000000 NS USD 2225600.00000000 0.037356921741 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 13774000.00000000 PA USD 4763845.34000000 0.079961627226 Long ABS-MBS CORP US N 2 2046-02-15 Variable 0.05524358 N N N N N N KENNEDY-WILSON INC 5EA4464UK7FM5QNNKL62 KENNEDY-WILSON INC 4.75% 02/01/2030 489399AN5 26715000.00000000 PA USD 22959405.30000000 0.385375946720 Long DBT CORP US N 2 2030-02-01 Fixed 0.04750000 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 6979000.00000000 PA USD 4392272.03000000 0.073724731529 Long ABS-MBS CORP US N 2 2049-08-15 Fixed 0.03000000 N N N N N N CUBESMART N/A CUBESMART 229663109 414900.00000000 NS USD 19031463.00000000 0.319445036805 Long EC CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 ISTAR INC 8.0% SER D PERP PFD 45031U408 332421.00000000 NS USD 8566489.17000000 0.143789389612 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 7010000.00000000 PA USD 5006546.21000000 0.084035385946 Long ABS-MBS CORP US N 2 2049-11-15 Fixed 0.03000000 N N N N N N LIFE STORAGE INC W9EE01AFDDF9DQCQZC68 LIFE STORAGE INC 53223X107 155800.00000000 NS USD 19613662.00000000 0.329217306072 Long EC CORP US N 1 N N N BROOKFIELD PROPERTY PARTNERS LP 5493004J5Z0TZW83NU62 BROOKFIELD PROPERTY PARTN LP 5.75% PFD PERP N/A 43000.00000000 NS USD 853980.00000000 0.014334140918 Long EP CORP BM N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 ISTAR INC 7.5 PFD PERP I 45031U804 552696.00000000 NS USD 13878196.56000000 0.232946936917 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 294000.00000000 NS USD 7329420.00000000 0.123025058118 Long EP CORP US N 1 N N N PRIMA CAPITAL CRE SECURITIZATION 2020-VIII LTD N/A PRIMA CAPITAL CRE SECURITIZATION 2020-VIII LTD 3% 12/01/2070 144A 74167UAE7 9277000.00000000 PA USD 7230863.95000000 0.121370784823 Long ABS-MBS CORP US N 2 2070-12-01 Fixed 0.03000000 N N N N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 CHIMERA INVESTMENT CORP 8%/VAR PERP PFD 16934Q604 900931.00000000 NS USD 19586239.94000000 0.328757024014 Long EP CORP US N 1 N N N VENTAS INC ORQTRC074CWLT3DKHT41 VENTAS INC REIT 92276F100 1042886.00000000 NS USD 56086409.08000000 0.941416065220 Long EC CORP US N 1 N N N SERVICE PROPERTIES TRUST 529900IS770AG1K9QG27 SERVICE PPTYS TR 7.5% 09/15/2025 81761LAA0 7950000.00000000 PA USD 7708002.00000000 0.129379595388 Long DBT CORP US N 2 2025-09-15 Fixed 0.07500000 N N N N N N GLOBAL MEDICAL REIT INC 549300HFRIPQDYU3GU60 GLOBAL MEDICAL REIT INC SER A 7.5% PFD PERP 37957W203 150848.00000000 NS USD 3875285.12000000 0.065047053807 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 2518000.00000000 PA USD 843781.80000000 0.014162963097 Long ABS-MBS CORP US N 2 2046-04-15 Variable 0.03250000 N N N N N N EQUINIX INC 549300EVUN2BTLJ3GT74 EQUINIX INC 3.9% 04/15/2032 29444UBU9 2000000.00000000 PA USD 1894922.68000000 0.031806469384 Long DBT CORP US N 2 2032-04-15 Fixed 0.03900000 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 TWO HARBORS INV CORP 7.625% SER B PFD PERP 90187B309 1395117.00000000 NS USD 31208767.29000000 0.523842324450 Long EP CORP US N 1 N N N CUSHMAN and WAKEFIELD US BORROWER LLC N/A CUSHMAN and WAKEFIELD US BORROWER LLC 6.75% 05/15/2028 144A 23166MAA1 8165000.00000000 PA USD 8080165.65000000 0.135626400001 Long DBT CORP US N 2 2028-05-15 Fixed 0.06750000 N N N N N N HUDSON PACIFIC PROPERTIES INC N/A HUDSON PACIFIC PROPERTIES INC 4.75% PFD PERP C 444097307 790100.00000000 NS USD 16663209.00000000 0.279693653204 Long EP CORP US N 1 N N N AMERICAN HOMES 4 RENT LP 549300N4PXZ37U8QKI55 AMERICAN HOMES 4 RENT LP 2.375% 07/15/2031 02666TAC1 7000000.00000000 PA USD 5768912.59000000 0.096831782960 Long DBT CORP US N 2 2031-07-15 Fixed 0.02375000 N N N N N N CALI MTG TR 2019-101C N/A CALI MTG TR 2019-101C CSTR 03/10/2039 144A 129890AQ2 4099000.00000000 PA USD 3289932.00000000 0.055221842315 Long ABS-MBS CORP US N 2 2039-03-10 Variable 0.04324435 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2013-LC11 N/A JP MORGAN CH CMS 13-LC11 E CSTR 04/15/2046 144A 46639YAC1 472000.00000000 PA USD 305197.89000000 0.005122777539 Long ABS-MBS CORP US N 2 2046-04-15 Variable 0.03250000 N N N N N N GS MTG SECS TR 2019-GSA1 N/A GS MTG SECS TR 2019-GSA1 3.0479% 11/10/2052 36261PAT9 25860000.00000000 PA USD 24382667.33000000 0.409265544254 Long ABS-MBS CORP US N 2 2052-11-10 Fixed 0.03047900 N N N N N N GRANITE POINT MORTGAGE TRUST INC 529900VX2HQZ76AYIE02 GRANITE POINT MORTGAGE TRUST INC CONV 6.375% 10/01/2023 38741LAC1 3366000.00000000 PA USD 3239775.00000000 0.054379951983 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 516000.00000000 NS USD 11610000.00000000 0.194875027595 Long EP CORP US N 1 N N N BANK 2021-BNK33 N/A BANK 2021-BNK33 2.556% 05/15/2064 06541CBL9 14931000.00000000 PA USD 13464583.19000000 0.226004394549 Long ABS-MBS CORP US N 2 2064-05-15 Fixed 0.02556000 N N N N N N MHC COML MTG TR 2021-MHC N/A MHC 2021 MHC G 1ML+286.9 04/15/2026 144A 55316VAN4 20601000.00000000 PA USD 19467953.24000000 0.326771569756 Long ABS-MBS CORP US N 2 2038-04-15 Variable 0.05199962 N N N N N N FARMLAND PARTNERS INC 549300LB188CHPZ4IL37 FARMLAND PARTNERS INC 31154R109 312456.00000000 NS USD 4636847.04000000 0.077829947879 Long EC CORP US N 1 N N N BANK 2019-BNK19 N/A BANK 2019-BNK19 A3 3.183% 08/15/2061 06540WBD4 17000000.00000000 PA USD 16263350.90000000 0.272981994439 Long ABS-MBS CORP US N 2 2061-08-15 Fixed 0.03183000 N N N N N N GLOBAL PARTNERS LP 549300PCHWTW9P4DU444 GLOBAL PARTNERS LP SER A 9.75/VAR PFD PERP 37946R208 161507.00000000 NS USD 4234713.54000000 0.071080096293 Long EP CORP US N 1 N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 PUBLIC STORAGE 74460D109 191100.00000000 NS USD 62376951.00000000 1.047003449394 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 4265000.00000000 PA USD 3606843.54000000 0.060541234659 Long ABS-MBS CORP US N 2 2033-09-15 Variable 0.07055327 N N N N N N PENNYMAC CORP EWN0I878407TKQNXZ933 PENNYMAC CORP CONV 5.5% 11/01/2024 70932AAD5 23577000.00000000 PA USD 22796011.88000000 0.382633371592 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 2143000.00000000 PA USD 1626556.29000000 0.027301912308 Long ABS-MBS CORP US N 3 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 7164000.00000000 PA USD 6502931.15000000 0.109152358941 Long ABS-MBS CORP US N 2 2046-10-15 Variable 0.04762157 N N N N N N MTN COML MTG TR 2022-LPFL N/A MTN COML MTG TR 2022-LPFL F TSFR1M+393.47 03/15/2039 144A 62475WAL9 5000000.00000000 PA USD 4720539.00000000 0.079234725916 Long ABS-MBS CORP US N 2 2039-03-15 Variable 0.07243749 N N N N N N BENCHMARK 2019-B14 MTG TR N/A BENCHMARK 2019-B14 MTG TR VAR 12/15/2062 144A 08162YBM3 3427000.00000000 PA USD 2930823.52000000 0.049194170054 Long ABS-MBS CORP US N 2 2062-12-15 Variable 0.03294300 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 AGNC INVESTMENT CORP 7/VAR PFD PERP 00123Q500 686702.00000000 NS USD 16625055.42000000 0.279053241494 Long EP CORP US N 1 N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 READY CAPITAL CORP 5.75% PFD 02/15/2026 75574U606 61593.00000000 NS USD 1465913.40000000 0.024605505105 Long EP CORP US N 1 N N N NATIONAL STORAGE AFFILIATES TRUST N/A NATIONAL STORAGE AFFILIATES SER A 6% PFD PERP 637870205 91575.00000000 NS USD 2302195.50000000 0.038642584977 Long EP CORP US N 1 N N N STWD TR 2021-LIH N/A STWD TR 2021-LIH 1ML+420 11/15/2036 144A 78486EAU2 9177000.00000000 PA USD 8442567.44000000 0.141709350805 Long ABS-MBS CORP US N 2 2036-11-15 Variable 0.06199000 N N N N N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 PENNSYLVANIA REAL EST INVT TR SER D 6.875% PFD PERP 709102701 150100.00000000 NS USD 489326.00000000 0.008213386542 Long EP CORP US N 1 N N N SLG OFFICE TR 2021-OVA N/A SLG OFFICE TR 2021-OVA 2.5854% 07/15/2041 144A 78449RAA3 13377000.00000000 PA USD 11805811.15000000 0.198161737609 Long ABS-MBS CORP US N 2 2041-07-15 Fixed 0.02585400 N N N N N N SFO COMMERICAL MORTGAGE TRUST 2021 N/A SFO COMMERICAL MORTGAGE TRUST 2021-555 F 1ML+365 05/15/2038 144A 78432WAL7 3720000.00000000 PA USD 3393040.64000000 0.056952531296 Long ABS-MBS CORP US N 2 2038-05-15 Variable 0.05649000 N N N N N N BX TRUST 2019 N/A BX TRUST 2019 1ML+265 10/15/2036 144A 056054AL3 15217549.99600000 PA USD 14462812.78000000 0.242759779467 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.04649000 N N N N N N MORGAN STANLEY CAPITAL I TRUST 2018-H4 N/A MORGAN STANLEY CAPITAL I TRUST 2018-H4 4.31% 12/15/2051 61691RAE6 14240929.00000000 PA USD 14426817.27000000 0.242155591180 Long ABS-MBS CORP US N 2 2051-12-15 Fixed 0.04310000 N N N N N N INVITATION HOMES OPERATING PARTNERSHIP LP 549300147YMUQB3GW319 INVITATION HOMES OPERATING PARTNERSHIP LP 4.15% 04/15/2032 46188BAD4 25000000.00000000 PA USD 23440213.00000000 0.393446352732 Long DBT CORP US N 2 2032-04-15 Fixed 0.04150000 N N N N N N CITY OFFICE REIT INC 5493003J7157VP25NL57 CITY OFFICE REIT INC 6.625% SER A PFD PERP 178587200 178475.00000000 NS USD 4204871.00000000 0.070579186232 Long EP CORP US N 1 N N N BCP TR 2021-330N N/A BCP TR 2021-330N 1ML+337.5 06/15/2038 144A 05553BAN5 5000000.00000000 PA USD 4465417.50000000 0.074952485662 Long ABS-MBS CORP US N 2 2038-06-15 Variable 0.05637000 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 PEBBLEBROOK HOTEL TR SER E 6.375% PERP PFD 70509V605 372994.00000000 NS USD 9093593.72000000 0.152636892948 Long EP CORP US N 1 N N N VASA TR 2021-VASA N/A VASA TR 2021-VASA G 1ML+500 04/15/2060 144A 92230AAN6 800000.00000000 PA USD 756436.88000000 0.012696869755 Long ABS-MBS CORP US N 2 2039-07-15 Variable 0.06999000 N N N N N N MORGAN STANLEY CAPITAL I TRUST 2017-H1 N/A MORGAN STANLEY CAPITAL I TRUST 2017-H1 4.281% 06/15/2050 61691JBA1 2000000.00000000 PA USD 1877080.20000000 0.031506981548 Long ABS-MBS CORP US N 2 2050-06-15 Fixed 0.04281000 N N N N N N CUSHMAN and WAKEFIELD PLC N/A CUSHMAN and WAKEFIELD PLC N/A 201400.00000000 NS USD 3383520.00000000 0.056792726388 Long EC CORP GB N 1 N N N PICASSO FINANCE SUB INC N/A PICASSO FINANCE SUB INC 6.125% 06/15/2025 144A 71953LAA9 3240000.00000000 PA USD 3282039.00000000 0.055089357510 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 2769000.00000000 PA USD 2204087.17000000 0.036995826707 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 555215.00000000 NS USD 11770558.00000000 0.197570009911 Long EP CORP US N 1 N N N COMM 2014-UBS2 MTG TR N/A COMM 2014-UBS2 D MTG TR CSTR 03/10/2047 144A 12591UAP8 3713000.00000000 PA USD 3471034.19000000 0.058261660944 Long ABS-MBS CORP US N 2 2047-03-10 Variable 0.04979838 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 PUBLIC STORAGE SER L 4.625% PFD PERP 74460W552 31600.00000000 NS USD 765668.00000000 0.012851815041 Long EP CORP US N 1 N N N HILTON DOMESTIC OPERATING CO INC 5493003EG7H0N1E4XV50 HILTON DOMESTIC OPERATING CO INC 4% 05/01/2031 144A 432833AL5 3000000.00000000 PA USD 2692920.00000000 0.045200935341 Long DBT CORP US N 2 2031-05-01 Fixed 0.04000000 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 7077000.00000000 PA USD 326436.53000000 0.005479270266 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% 09/17/2041 144A 437300AL0 6986314.31000000 PA USD 5913029.90000000 0.099250806626 Long ABS-CBDO CORP US N 2 2041-09-17 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 531595.00000000 NS USD 13683255.30000000 0.229674828095 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 6725000.00000000 PA USD 5525166.52000000 0.092740480452 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 457602.00000000 NS USD 9454194.60000000 0.158689615294 Long EP CORP US N 1 N N N HOME PARTNERS AMER 2021-3 TR N/A HOME PARTNERS AMER 2021-3 TR 4.242% 01/17/2041 144A 43730XAG9 10286249.74000000 PA USD 9121183.83000000 0.153099995743 Long ABS-CBDO CORP US N 2 2041-01-17 Fixed 0.04242000 N N N N N N BANK 2022-BNK39 N/A BANK 2022-BNK39 2.928% 02/15/2055 06539VAJ7 13750000.00000000 PA USD 12732537.13000000 0.213716927181 Long ABS-MBS CORP US N 2 2055-02-15 Fixed 0.02928000 N N N N N N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 DIGITAL RLTY TR INC SER L 5.2% PERP PFD 253868822 29700.00000000 NS USD 745767.00000000 0.012517774737 Long EP CORP US N 1 N N N MORGAN STANLEY CAPITAL I TRUST 2017-H1 N/A MORGAN STANLEY CAPITAL I TRUST 2017-H1 2.546% 06/15/2050 144A 61691JAC8 2000000.00000000 PA USD 1542595.20000000 0.025892616896 Long ABS-MBS CORP US N 2 2050-06-15 Fixed 0.02546000 N N N N N N BANK 2017-BNK8 N/A BANK 2017-BNK8 E 2.8% 11/15/2050 144A 06650AAW7 11374393.00000000 PA USD 6973627.84000000 0.117053050625 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 5550000.00000000 PA USD 4856250.00000000 0.081512648816 Long ABS-MBS CORP US N 2 2045-05-15 Variable 0.05281486 N N N N N N DIVERSIFIED HEALTHCARE TR N/A DIVERSIFIED HEALTHCARE TR 4.75% 02/15/2028 81721MAM1 9933000.00000000 PA USD 7468605.32000000 0.125361297832 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 6885000.00000000 PA USD 6878734.65000000 0.115460258806 Long DBT CORP US N 2 2025-12-01 Fixed 0.05750000 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 SUNSTONE HOTEL INVS INC SER I 5.7% PERP PFD 867892887 240000.00000000 NS USD 5332800.00000000 0.089511588902 Long EP CORP US N 1 N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 ARBOR REALTY TRUST INC SER F 6.25%/VAR PFD PERP 038923850 545807.00000000 NS USD 11172669.29000000 0.187534387270 Long EP CORP US N 1 N N N VICI PROPERTIES LP / VICI NOTE CO INC N/A VICI PROPERTIES LP / VICI NOTE CO INC 4.625% 12/01/2029 144A 92564RAB1 2000000.00000000 PA USD 1905080.00000000 0.031976961031 Long DBT CORP US N 2 2029-12-01 Fixed 0.04625000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 ENERGY TRANSFER LP 7.6/VAR PFD PERP 29273V605 525651.00000000 NS USD 12426389.64000000 0.208578210509 Long EP CORP US N 1 N N N MORGAN STANLEY CAP I TR 2011-C3 N/A MSC 2011-C3 G CSTR 07/49 61760RAS1 5049500.00000000 PA USD 2655908.24000000 0.044579689195 Long ABS-MBS CORP US N 3 2049-07-15 Variable 0.05084196 N N N N N N HOME PARTNERS AMER 2019-2 TR N/A HOME PARTNERS AMER 2019-2 TR 3.866% 10/19/2039 144A 43732TAL5 2783130.87000000 PA USD 2516512.78000000 0.042239922260 Long ABS-CBDO CORP US N 2 2039-10-19 Fixed 0.03866000 N N N N N N DCP MIDSTREAM LP 52990024YYS3MLGW0E91 DCP MIDSTREAM LP 7.95/VAR PERP PFD 23311P308 328262.00000000 NS USD 8252506.68000000 0.138519161670 Long EP CORP US N 1 N N N FORESTAR GROUP INC 549300BC2UB0GHV60V70 FORESTAR GROUP INC 5% 03/01/2028 144A 346232AE1 5000000.00000000 PA USD 4386350.00000000 0.073625329655 Long DBT CORP US N 2 2028-03-01 Fixed 0.05000000 N N N N N N COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR N/A COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR CSTR 05/10/2050 12515DAV6 3000000.00000000 PA USD 2705412.60000000 0.045410624899 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 49450.00000000 NS USD 1042653.25000000 0.017501040556 Long EP CORP US N 1 N N N CEDAR REALTY TRUST INC 54930056URX93R2RSN82 CEDAR RLTY TR I 7.25% PFD PERP 150602407 150821.00000000 NS USD 1446373.39000000 0.024277524055 Long EP CORP US N 1 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 10126000.00000000 PA USD 7908517.39000000 0.132745266547 Long ABS-MBS CORP US N 2 2049-12-15 Variable 0.03386649 N N N N N N KKR REAL ESTATE FINANCE TRUST INC 549300K23AYZDZ2REL62 KKR REAL ESTATE FINANCE TRUST INC 6.5% PERP PFD 48251K209 217359.00000000 NS USD 4907966.22000000 0.082380710814 Long EP CORP US N 1 N N N BX 2021-21M MTG TR N/A BX 2021-21M MTG TR 1ML+401 10/15/2036 144A 05609CAU1 16916000.00000000 PA USD 15343657.80000000 0.257544852471 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.06009000 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 26490000.00000000 PA USD 23405504.40000000 0.392863765361 Long DBT CORP US N 2 2028-06-30 Fixed 0.03875000 N N N N N N KENNEDY-WILSON INC 5EA4464UK7FM5QNNKL62 KENNEDY-WILSON INC 5% 03/01/2031 489399AM7 6960000.00000000 PA USD 5933400.00000000 0.099592720821 Long DBT CORP US N 2 2031-03-01 Fixed 0.05000000 N N N N N N CENTERSPACE 5493002LG2SH9EEHT720 CENTERSPACE 6.625% SER C PFD PERP 15202L206 317300.00000000 NS USD 8360855.00000000 0.140337799211 Long EP CORP US N 1 N N N BOSTON PPTY LTD PARTNERSHIP BVHHEFJI6SHNOKQT2572 BOSTON PPTYS LTD PARTNERSHIP 3.25% 01/30/2031 10112RBD5 2000000.00000000 PA USD 1774002.62000000 0.029776813912 Long DBT CORP US N 2 2031-01-30 Fixed 0.03250000 N N N N N N JP MORGAN CHASE COML MTG SECS TR 2012-CIBX N/A JPMCC 2012-CBX E CSTR 6/45 46637WAQ6 5892000.00000000 PA USD 5302800.00000000 0.089008035860 Long ABS-MBS CORP US N 3 2045-06-15 Variable 0.04784279 N N N N N N TAYLOR MORRISON COMMUNITIES INC 549300O1Z08HI2MRK572 TAYLOR MORRISON COMMUNITIES INC 5.875% 06/15/2027 144A 87724RAA0 1798000.00000000 PA USD 1836207.50000000 0.030820929132 Long DBT CORP US N 2 2027-06-15 Fixed 0.05875000 N N N N N N TRICON RESIDENTIAL 2021-SFR1 TR N/A TRICON RESIDENTIAL 2021-SFR1 TR 4.133% 07/17/2038 144A 89614YAH9 3000000.00000000 PA USD 2672830.20000000 0.044863726010 Long ABS-CBDO CORP US N 2 2038-07-17 Fixed 0.04133000 N N N N N N NEW HOME CO INC/THE 549300PLCE8TB3TVRQ85 NEW HOME CO INC/THE 7.25% 10/15/2025 144A 645370AC1 8180000.00000000 PA USD 6626769.00000000 0.111230989814 Long DBT CORP US N 2 2025-10-15 Fixed 0.07250000 N N N N N N MRCD 2019-PARK G N/A MRCD 2019-PARK G 2.71752% 12/15/2036 144A 55348UAW8 2000000.00000000 PA USD 1725865.00000000 0.028968819078 Long ABS-MBS CORP US N 2 2036-12-15 Fixed 0.02717520 N N N N N N EG GLOBAL FINANCE PLC 549300TL8Q5207VYET27 EG GLOBAL FINANCE PLC 8.5% 10/30/2025 144A 28228PAB7 1682000.00000000 PA USD 1647115.32000000 0.027646997712 Long DBT CORP GB N 2 2025-10-30 Fixed 0.08500000 N N N N N N ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO N/A ASHTON WOODS USA LLC/FIN CO 6.625% 01/15/2028 144A 045086AK1 9925000.00000000 PA USD 8683581.00000000 0.145754787855 Long DBT CORP US N 2 2028-01-15 Fixed 0.06625000 N N N N N N SMRT 2022-MINI N/A SMRT 2022-MINI TSFR1M+335 01/15/2039 144A 78457JAQ5 27615000.00000000 PA USD 25494753.44000000 0.427932022408 Long ABS-MBS CORP US N 2 2039-01-15 Variable 0.05309000 N N N N N N BX TR 2022-VAMF N/A BX TR 2022-VAMF TSFR1M+329.9 01/15/2039 144A 05609TAL4 4367000.00000000 PA USD 4074960.81000000 0.068398630516 Long ABS-MBS CORP US N 2 2039-01-15 Variable 0.05257580 N N N N N N MHP 2022-MHIL F N/A MHP 2022-MHIL F TSFR1M+395.75 01/15/2027 144A 55293DAN1 19424000.00000000 PA USD 17929286.29000000 0.300944888935 Long ABS-MBS CORP US N 2 2027-01-15 Variable 0.05916080 N N N N N N ACRES COMMERCIAL REALTY CORP 549300RUJWPCMY4JFR46 ACRES COMMERCIAL REALTY CORP 8.625%/VAR PFD PERP 00489Q201 92483.00000000 NS USD 1852434.49000000 0.031093300806 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 2896000.00000000 PA USD 2658013.67000000 0.044615029051 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 34474000.00000000 PA USD 29523786.29000000 0.495559747458 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 193700.00000000 NS USD 7035184.00000000 0.118086277014 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 1488758.21000000 PA USD 1416474.98000000 0.023775676211 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.04607200 N N N N N N PENNYMAC MORTGAGE INVESTMENT TRUST 549300BSSOQO1ZWDUJ97 PENNYMAC MTG INVT TR 8.125/VAR PREF PERP 70931T301 410254.00000000 NS USD 10178401.74000000 0.170845505595 Long EP CORP US N 1 N N N SUMIT 2022-BVUE MTG TR N/A SUMIT 2022-BVUE MTG TR 3.29249% 02/12/2041 144A 865592AJ8 6000000.00000000 PA USD 4757047.80000000 0.079847529827 Long ABS-MBS CORP US N 2 2041-02-12 Variable 0.02892490 N N N N N N TAH 2017 N/A TAH 2017 5.104% 01/17/2036 144A 89613FAF5 3785000.00000000 PA USD 3731908.56000000 0.062640463704 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 3686000.00000000 PA USD 3452738.86000000 0.057954571974 Long ABS-MBS CORP US N 2 2046-09-15 Variable 0.04982425 N N N N N N GS MTG SECS TR 2011-GC5 N/A GSMS 2011-GC5 D 5.47 8/44 36191YAL2 2733635.00000000 PA USD 1164528.51000000 0.019546729157 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05158841 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 MFA FINANCIAL 6.5%/VAR PFD PERP 55272X508 1314323.00000000 NS USD 25905306.33000000 0.434823194309 Long EP CORP US N 1 N N N BENCHMARK 2021-B28 MTG TR N/A BENCHMARK 2021-B28 MTG TR 2.2237% 08/15/2054 08163GAU4 10000000.00000000 PA USD 8747284.00000000 0.146824049172 Long ABS-MBS CORP US N 2 2054-08-15 Fixed 0.02223700 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 7897000.00000000 PA USD 27701.89000000 0.000464979033 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 HOMES INC 5.25% 06/01/2027 87265HAF6 11458000.00000000 PA USD 11001714.48000000 0.184664893444 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 2000000.00000000 PA USD 1774327.00000000 0.029782258663 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 952600.00000000 NS USD 21233454.00000000 0.356405679087 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 29336049.37000000 PA USD 28896008.63000000 0.485022435760 Long LON CORP US N 3 2022-11-15 Variable 0.10499200 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 4044000.00000000 PA USD 392457.26000000 0.006587434915 Long ABS-MBS CORP US N 3 2045-06-15 Fixed 0.04000000 N N N N N N KIMCO REALTY CORP 549300EA7I6T15IBYS12 KIMCO REALTY CORP SER M 5.25% PFD PERP 49446R711 32100.00000000 NS USD 807796.50000000 0.013558946186 Long EP CORP US N 1 N N N CBL and ASSOCS LTD PARTNERSHIP 549300VS75TWHD9JTH89 CBL and ASSOCS LP 4.6% 10/15/2024 12505JAB9 18229000.00000000 PA USD 1.82000000 0.000000030548 Long DBT CORP US N 3 2024-10-15 Fixed 0.04600000 Y Y N N N N VICI PPTYS INC 254900RKH6RY9KCJQH63 VICI PPTYS INC 925652109 1249900.00000000 NS USD 42734081.00000000 0.717295884078 Long EC CORP US N 1 N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 REXFORD INDL RLTY INC SER B 5.875% PERP PFD 76169C308 78600.00000000 NS USD 2002728.00000000 0.033615992615 Long EP CORP US N 1 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 28979000.00000000 PA USD 27381761.56000000 0.459605645101 Long ABS-MBS CORP US N 2 2038-05-15 Variable 0.05951330 N N N N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 ANNALY CAPITAL MANAGEMENT INC 6.5%/VAR PFD PERP 035710862 1135399.00000000 NS USD 25432937.60000000 0.426894437264 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 6030000.00000000 PA USD 5743575.00000000 0.096406488942 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 978498.20000000 0.016424191535 Long ABS-CBDO CORP US N 2 2036-09-17 Fixed 0.03867000 N N N N N N GS MTG SECS TR 2013-GCJ16 N/A GSMS 2013-GC16 D CSTR 11/46 36248GAP5 3708000.00000000 PA USD 3567106.38000000 0.059874242397 Long ABS-MBS CORP US N 2 2046-11-10 Variable 0.05310706 N N N N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 PEBBLEBROOK HOTEL TR SER H 5.7% PERP PFD 70509V886 692200.00000000 NS USD 14411604.00000000 0.241900234900 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 3955000.00000000 PA USD 145326.08000000 0.002439312993 Long ABS-MBS CORP US N 3 2044-06-15 Variable 0.05000000 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 651000.00000000 PA USD 503876.15000000 0.008457612285 Long ABS-MBS CORP US N 2 2035-06-15 Variable 0.05749140 N N N N N N UBS COML MTG TR 2012-C1 N/A UBSCM 2012-C1 D CSTR 5/45 90269GAN1 321258.19000000 PA USD 292344.95000000 0.004907039638 Long ABS-MBS CORP US N 2 2045-05-10 Variable 0.06444404 N N N N N N EQUITY RESIDENTIAL 5493008RACSH5EP3PI59 EQUITY RESIDENTIAL REIT 29476L107 119700.00000000 NS USD 9383283.00000000 0.157499356896 Long EC CORP US N 1 N N N XHR LP 549300M88BPT83ZL2164 XHR LP 4.875% 06/01/2029 144A 98372MAC9 10000000.00000000 PA USD 9018800.00000000 0.151381472771 Long DBT CORP US N 2 2029-06-01 Fixed 0.04875000 N N N N N N MORGAN STANLEY CAP I TR 2016-BNK2 N/A MORGAN STANLEY CAP I TR 2016-BNK2 3% 11/15/2049 144A 61690YAC6 2966000.00000000 PA USD 2306693.79000000 0.038718089231 Long ABS-MBS CORP US N 2 2049-11-15 Fixed 0.03000000 N N N N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 AGNC INVESTMENT CORP 6.875/VAR PERP PFD 00123Q609 673972.00000000 NS USD 14726288.20000000 0.247182241116 Long EP CORP US N 1 N N N GLP CAP LP / GLP FING II INC N/A GLP CAP LP / GLP FING II INC 5.3% 01/15/2029 361841AL3 10193000.00000000 PA USD 9961313.11000000 0.167201650921 Long DBT CORP US N 2 2029-01-15 Fixed 0.05300000 N N N N N N DIVERSIFIED HEALTHCARE TR N/A DIVERSIFIED HEALTHCARE TR 4.75% 05/01/2024 81721MAK5 40903000.00000000 PA USD 37320184.34000000 0.626423079512 Long DBT CORP US N 2 2024-05-01 Fixed 0.04750000 N N N N N N BANK 2021-BNK38 N/A BANK 2021-BNK38 3.21677%/VAR 12/15/2064 06540EBC6 3505000.00000000 PA USD 2870442.18000000 0.048180663138 Long ABS-MBS CORP US N 2 2064-12-15 Variable 0.03216925 N N N N N N GREEN TREE FINANCIAL CORP N/A GT 1996-4 M1 7.75% 6/27 393505MR0 277217.75020000 PA USD 275093.13000000 0.004617466089 Long ABS-CBDO CORP US N 2 2027-06-15 Variable 0.07750000 N N N N N N CREST CLARENDON STR 02 1 LTD N/A CREST CLARENDON STR 02 1 LTD 3ML+47 12/28/2035 144A 226063204 500000.00000000 PA USD 10000.00000000 0.000167851014 Long ABS-CBDO CORP KY N 3 2035-12-28 Variable 0.02704430 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 6938114.23700000 PA USD 6351693.03000000 0.106613811757 Long ABS-MBS CORP US N 2 2035-11-21 Variable 0.07861600 N N N N N N HERSHA HOSPITALITY TR 549300DNC58BIN1VO064 HERSHA HOSPITALITY TR 6.5% PERP PFD 427825609 197750.00000000 NS USD 4168570.00000000 0.069969870265 Long EP CORP US N 1 N N N BX TR 2019-OC11 N/A BX TR 2019-OC11 4.075457% 12/09/2041 144A 05606FAN3 22521000.00000000 PA USD 19293261.00000000 0.323839342789 Long ABS-MBS CORP US N 2 2041-12-09 Variable 0.04075457 N N N N N N OPG TR 2021-PORT N/A OPG TR 2021-PORT G 1ML+244 10/15/2036 144A 67118AAS4 6969000.00000000 PA USD 6367933.51000000 0.106886409861 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.04397000 N N N N N N MSJP 2015-HAUL N/A MSJP 2015-HAUL E 5.012% 09/05/2047 144A 553697AN3 1500000.00000000 PA USD 1140875.55000000 0.019149711825 Long ABS-MBS CORP US N 2 2047-09-05 Variable 0.04851000 N N N N N N WELLS FARGO COML MTG TR 2019-C52 N/A WELLS FARGO COML MTG TR 2019-C52 3.561% 08/15/2052 95002MBC2 883000.00000000 PA USD 757710.78000000 0.012718252296 Long ABS-MBS CORP US N 2 2052-08-15 Fixed 0.03561000 N N N N N N DBUBS 2011 LC3 N/A DBUBS 2011-LC3A D CSTR 8/44 23305YAM1 2970114.41000000 PA USD 2788343.41000000 0.046802626956 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05362838 N N N N N N BX TRUST 2019 N/A BX TRUST 2019 1ML+230 10/15/2036 144A 056054AK5 13391750.00800000 PA USD 12859804.25000000 0.215853118698 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.04299000 N N N N N N HOWARD HUGHES CORP 549300BVHY25JZC1KI49 HOWARD HUGHES CORP 4.125% 02/01/2029 144A 44267DAE7 16960000.00000000 PA USD 14588756.76000000 0.244873761946 Long DBT CORP US N 2 2029-02-01 Fixed 0.04125000 N N N N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 ANNALY CAPITAL MANAGEMENT INC 6.95%/VAR PERP PFD 035710870 1710043.00000000 NS USD 41297538.45000000 0.693183371669 Long EP CORP US N 1 N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 CHIMERA INVESTMENT CORP SER A 8% PERP PFD 16934Q307 18770.00000000 NS USD 416694.00000000 0.006994251055 Long EP CORP US N 1 N N N DIGITAL REALTY TRUST INC 549300HKCZ31D08NEI41 DIGITAL RLTY TR INC 5.25% PFD PERP 253868855 28900.00000000 NS USD 732615.00000000 0.012297017083 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 173050.00000000 NS USD 4334902.50000000 0.072761778149 Long EP CORP US N 1 N N N SUNBELT MEZZ N/A SUNBELT MEZZ SOFR+445 01/21/2027 N/A 18837337.32000000 PA USD 18837337.32000000 0.316186617576 Long LON CORP US N 3 2027-01-21 Variable 0.06163000 N N N N N N CREDIT SUISSE MORTGAGE TRUST 2021-4SZN N/A CREDIT SUISSE MORTGAGE TRUST 2021-4SZN TSFR1M+396.65 11/15/2023 144A 12663FAA7 24906000.00000000 PA USD 24114920.68000000 0.404771389576 Long ABS-MBS CORP US N 2 2023-11-15 Variable 0.05925500 N N N N N N SITE CENTERS CORP W2AVA6SODOQ1LCYJQR54 SITE CENTERS CORP 82981J109 1379438.00000000 NS USD 20153589.18000000 0.338280038553 Long EC CORP US N 1 N N N PENNSYLVANIA REAL EST INVT TR 5493001GPBXRIG8WJO70 PENNSLVNA 7.375% PFD PERP 709102503 99385.00000000 NS USD 346853.65000000 0.005821973696 Long EP CORP US N 1 N N N RLJ LODGING TRUST LP 549300RX5I8Z6I6LDZ74 RLJ LODGING TRUST LP 4% 09/15/2029 144A 74965LAB7 24550000.00000000 PA USD 21757437.50000000 0.365200795282 Long DBT CORP US N 2 2029-09-15 Fixed 0.04000000 N N N N N N MARRIOTT OWNERSHIP RESORTS INC BW4532OH033VURR0IT68 MARRIOTT OWNERSHIP RESORTS INC 4.5% 06/15/2029 144A 57164PAH9 20315000.00000000 PA USD 17635654.65000000 0.296016252074 Long DBT CORP US N 2 2029-06-15 Fixed 0.04500000 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 1698000.00000000 PA USD 1224422.37000000 0.020552053672 Long ABS-MBS CORP US N 2 2051-06-15 Variable 0.03217138 N N N N N N NEXPOINT RESIDENTIAL TRUST INC 549300U2J6XVYBF87166 NEXPOINT RESIDENTIAL TRUST INC 65341D102 32800.00000000 NS USD 2182512.00000000 0.036633685290 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 68225.00000000 NS USD 1705625.00000000 0.028629088625 Long EP CORP US N 1 N N N STWD TR 2021-LIH N/A STWD TR 2021-LIH 1ML+ 11/15/2036 144A 78486EAQ1 4985000.00000000 PA USD 4575720.03000000 0.076803924816 Long ABS-MBS CORP US N 2 2036-11-15 Variable 0.04902000 N N N N N N HOME PARTNERS AMER 2021-2 TR N/A HOME PARTNERS AMER 2021-2 TR 4.505% 12/17/2026 144A 43732VAN6 33083237.98000000 PA USD 29151546.58000000 0.489311666170 Long ABS-CBDO CORP US N 2 2026-12-17 Fixed 0.04505000 N N N N N N ASHFORD HOSPITALITY TRUST INC N/A ASHFORD HOSPITALITY TRUST SER F 7.375% PFD PERP 044103604 317854.00000000 NS USD 5511588.36000000 0.092512569659 Long EP CORP US N 1 N N N DATABANK ISSUER LLC 2021-1A N/A DATABANK ISSUER LLC 2021-1A 4.43% 02/27/2051 144A 23802WAE1 2300000.00000000 PA USD 2042224.74000000 0.034278949402 Long ABS-CBDO CORP US N 2 2051-02-27 Fixed 0.04430000 N N N N N N ALEN 2021-ACEN MTG TR N/A ALEN 2021-ACEN F 1ML+500 04/15/2038 144A 01449NAL0 3384000.00000000 PA USD 2736191.74000000 0.045927255886 Long ABS-MBS CORP US N 2 2034-04-15 Variable 0.06999000 N N N N N N CHERRY HILL MORTGAGE INVESTMENT CORP N/A CHERRY HILL MTG INVT CORP 8.25%/VAR PFD PERP 164651309 197498.00000000 NS USD 4392355.52000000 0.073726132917 Long EP CORP US N 1 N N N VORNADO REALTY TRUST N/A VORNADO RLTY SR L 5.4% PFD PRP 929042844 30100.00000000 NS USD 719089.00000000 0.012069981801 Long EP CORP US N 1 N N N MED TR 2021-MDLN N/A MED TR 2021-MDLN 1ML+525 11/15/2026 144A 58403YBA3 34897000.00000000 PA USD 32629860.56000000 0.547695519128 Long ABS-MBS CORP US N 2 2038-11-15 Variable 0.07250000 N N N N N N SABRA HEALTH CARE LP 549300OVKLRFSIQG0H81 SABRA HEALTH CARE LP 5.125% 08/15/2026 14162VAB2 20264000.00000000 PA USD 19917535.85000000 0.334317859466 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 190073.00000000 NS USD 4162598.70000000 0.069869641389 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 6218000.00000000 PA USD 5684611.25000000 0.095416776418 Long ABS-MBS CORP US N 2 2046-11-15 Variable 0.04896023 N N N N N N SABRA HEALTH CARE REIT INC 549300E3BC7GU7TAZ621 SABRA HEALTHCARE REIT INC 78573L106 719375.00000000 NS USD 11071181.25000000 0.185830900224 Long EC CORP US N 1 N N N KENNEDY-WILSON INC 5EA4464UK7FM5QNNKL62 KENNEDY-WILSON INC 4.75% 03/01/2029 489399AL9 19075000.00000000 PA USD 16833687.50000000 0.282555152118 Long DBT CORP US N 2 2029-03-01 Fixed 0.04750000 N N N 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 2000000.00000000 PA USD 1809592.20000000 0.030374188622 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 3808000.00000000 PA USD 2978822.85000000 0.049999843677 Long ABS-MBS CORP US N 2 2035-07-15 Variable 0.04599000 N N N N N N NECESSITY RETAIL REIT INC/THE 549300GN4H0K3IUS8983 THE NECESSITY RETAIL REIT INC SER A 7.5% PFD PERP 02607T406 874787.00000000 NS USD 21344802.80000000 0.358274679989 Long EP CORP US N 1 N N N SUN CMNTYS OPER LTD PRTNRSHP 549300PUNBPJCGT6X741 SUN CMNTYS OPER LTD PRTNRSHP 4.2% 04/15/2032 866677AH0 439000.00000000 PA USD 410035.42000000 0.006882486114 Long DBT CORP US N 2 2032-04-15 Fixed 0.04200000 N N N N N N CROWN CASTLE INTERNATIONAL CORP 54930012H97VSM0I2R19 CROWN CASTLE INTL CORP 22822V101 474210.00000000 NS USD 85670778.60000000 1.437992708340 Long EC CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 ISTAR INC 4.75% 10/01/2024 45031UCF6 20425000.00000000 PA USD 20144156.25000000 0.338121705866 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 20270000.00000000 PA USD 17422427.83000000 0.292437218273 Long ABS-MBS CORP US N 2 2038-11-05 Variable 0.04193500 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 SUNSTONE HOTEL INVS INC 867892101 372700.00000000 NS USD 4222691.00000000 0.070878296740 Long EC CORP US N 1 N N N VORNADO REALTY TRUST N/A VORNADO REALTY TRUST SER O 4.45% PERP PFD 929042794 342900.00000000 NS USD 6508242.00000000 0.109241502097 Long EP CORP US N 1 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 5075000.00000000 PA USD 4449524.82000000 0.074685725416 Long DBT CORP US N 2 2027-12-15 Fixed 0.03750000 N N N N N N BX TR 2021-ACNT N/A BX TR 2021-ACNT 1ML+317.3 11/15/2026 144A 05609QAN6 20581000.00000000 PA USD 19377174.09000000 0.325247832516 Long ABS-MBS CORP US N 2 2038-11-15 Variable 0.05295000 N N N N N N JPMDB COML MTG SECS TR 2019 N/A JPMDB 2019-COR6 A4 3.0565% 11/13/52 48129RAX3 13000000.00000000 PA USD 12169489.80000000 0.204266120637 Long ABS-MBS CORP US N 2 2052-11-13 Fixed 0.03056500 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 31820000.00000000 PA USD 24495354.20000000 0.411157004797 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 4015000.00000000 PA USD 3112201.59000000 0.052238619357 Long DBT CORP US N 2 2029-08-01 Fixed 0.04625000 N N N N N N BBCMS MTG TR 2022-C16 N/A BBCMS MTG TR 2022-C16 CSTR 06/15/2055 05552YAL0 5250000.00000000 PA USD 4720094.93000000 0.079227272156 Long ABS-MBS CORP US N 2 2055-06-15 Variable 0.04600000 N N N N N N TIMES SQUARE HOTEL TR N/A TIMES SQUARE HOTEL TR 8.528% 08/01/2026 144A 887367AA8 3783407.37410000 PA USD 3880213.42000000 0.065129775822 Long DBT CORP US N 2 2026-08-01 Fixed 0.08528000 N N N N N N BROOKFIELD RESIDENTIAL PPTYS INC / BROOKFIELD RESIDENTIAL US CORP N/A BROOKFIELD RESIDENTIAL PPTYS INC / US CORP 5% 06/15/2029 144A 11283YAG5 3000000.00000000 PA USD 2305500.00000000 0.038698051345 Long DBT CORP CA N 2 2029-06-15 Fixed 0.05000000 N N N N N N BX COML MTG TR 2020-VIVA N/A BX COML MTG TR 2020-VIVA 3.54875% 03/09/2044 144A 12433XAJ8 20338990.00000000 PA USD 16223629.27000000 0.272315262850 Long ABS-MBS CORP US N 2 2044-03-11 Variable 0.03548750 N N N N N N BX TRUST N/A BX TRUST 1ML+372.55 10/15/2036 144A 05609KAQ2 37345949.63000000 PA USD 34924740.76000000 0.586215316053 Long ABS-MBS CORP US N 2 2038-10-15 Variable 0.05889000 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 AMERICAN TOWER CORP 2.7% 04/15/2031 03027XBM1 2000000.00000000 PA USD 1731548.56000000 0.029064218209 Long DBT CORP US N 2 2031-04-15 Fixed 0.02700000 N N N N N N EPR PROPERTIES 549300YSSXFHMPOWZ492 EPR PPTYS 4.95% 04/15/2028 26884UAE9 4000000.00000000 PA USD 3732610.80000000 0.062652250874 Long DBT CORP US N 2 2028-04-15 Fixed 0.04950000 N N N N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 NEW RESIDENTIAL INVESTMENT CRP 64828T201 707199.00000000 NS USD 7715541.09000000 0.129506139778 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 7120000.00000000 PA USD 6598907.14000000 0.110763325668 Long ABS-MBS CORP US N 2 2034-06-15 Variable 0.06216018 N N N N N N WFRBS COML MTG TR 2012-C7 N/A WFRBS 2012-C7 F 4.5% 6/45 92936TAL6 1988786.51000000 PA USD 9943.93000000 0.000166909873 Long ABS-MBS CORP US N 3 2045-06-15 Fixed 0.04500000 N N N N N N BENCHMARK 2019-B14 MTG TR N/A BENCHMARK 2019-B14 MTG TR VAR 12/15/2062 144A 08162YBP6 5141000.00000000 PA USD 4356409.88000000 0.073122781704 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 596800.00000000 NS USD 23293104.00000000 0.390977113246 Long EC CORP US N 1 N N N RLJ LODGING TR N/A RLJ LODGING TRUST 74965L101 421300.00000000 NS USD 5262037.00000000 0.088323824770 Long EC CORP US N 1 N N N PARK INTERMEDIATE HOLDINGS LLC / PK DOMESTIC PROPERTY LLC / PK FINANCE CO-ISSUER N/A PARK INTERMEDIATE HOLDINGS LLC / PK DOMESTIC PROPERTY LLC / PK FINANCE CO-ISSUER 4.875% 05/15/2029 144A 70052LAC7 12000000.00000000 PA USD 11050140.00000000 0.185477720709 Long DBT CORP US N 2 2029-05-15 Fixed 0.04875000 N N N N N N MHP 2022-MHIL F N/A MHP 2022-MHIL F TSFR1M+325.92 01/15/2027 144A 55293DAL5 4305000.00000000 PA USD 4013638.89000000 0.067369335869 Long ABS-MBS CORP US N 2 2027-01-15 Variable 0.05217780 N N N N N N CRSNT TR 2021-MOON N/A CRSNT TR 2021-MOON F 1ML+350 04/15/2036 144A 22877LAH0 4844000.00000000 PA USD 4542763.75000000 0.076250750313 Long ABS-MBS CORP US N 2 2036-04-15 Variable 0.05500000 N N N N N N BRAEMAR HOTELS and RESORTS INC 549300JDUUEBN868C776 BRAEMAR HOTELS and RESORTS INC 5.5% PERP PFD 10482B200 84350.00000000 NS USD 1446602.50000000 0.024281369690 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 5000000.00000000 PA USD 5031250.00000000 0.084450041566 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 364700.00000000 NS USD 8621508.00000000 0.144712886254 Long EC CORP US N 1 N N N GS MTG SECS CORP TR 2019-70P N/A GS MTG SECS CORP TR 2019-70P E 1ML+220 10/15/2036 144A 36257MAQ8 7437000.00000000 PA USD 6712919.55000000 0.112677035534 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.04199000 N N N N N N WELLS FARGO COML MTG TR 2012-LC5 N/A WFCM 12-LC5 E VAR 4.775603% 10/15/2045 144A 94988HAR2 8347000.00000000 PA USD 8187043.93000000 0.137420362772 Long ABS-MBS CORP US N 2 2045-10-15 Variable 0.04727183 N N N N N N ARMOUR RESIDENTIAL REIT INC 549300K0WA0EJUX74V72 ARMOUR RESDNTL REIT INC SER C 7% PERP PFD 042315606 66245.00000000 NS USD 1478588.40000000 0.024818256266 Long EP CORP US N 1 N N N WASHINGTON REAL ESTATE INVS TR 549300DI34BGS8LVKW95 WASHINGTON REAL ESTATE IVST TR 939653101 914047.00000000 NS USD 20264421.99000000 0.340140378511 Long EC CORP US N 1 N N N CHIMERA INVESTMENT CORP 2JBBQFJOL123LOUBE657 CHIMERA INVESTMENT CORP SER C 7.75/VAR PERP PFD 16934Q505 2211586.00000000 NS USD 48212574.80000000 0.809252958192 Long EP CORP US N 1 N N N BANK 2020-BNK30 N/A BANK 2020-BN30 MCDG CSTR 12/53 06541UBJ4 2000000.00000000 PA USD 1408857.80000000 0.023647821072 Long ABS-MBS CORP US N 2 2053-12-15 Variable 0.02918230 N N N N N N BX 2021-BXMF N/A BX 2021-BXMF 1ML+359.02 10/15/2026 144A 05609RAS3 23874000.00000000 PA USD 21977547.32000000 0.368895360936 Long ABS-MBS CORP US N 2 2026-10-15 Variable 0.05348513 N N N N N N BX TR 2021-LGCY N/A BX TR 2021-LGCY 1ML+334.6 10/15/2023 144A 12434DAY8 19151000.00000000 PA USD 17321870.75000000 0.290749357486 Long ABS-MBS CORP US N 2 2023-10-15 Variable 0.05192000 N N N N N N MID-AMERICA APT CMNTYS INC 549300FQZKFR5YNSHZ21 MID AMERICA APT CMNTY INC 59522J103 331306.00000000 NS USD 61533463.38000000 1.032845424137 Long EC CORP US N 1 N N N NATIXIS COML MTG SECS TR 2020-2PAC N/A NATIXIS COML MTG SECS TR 2020-2PAC AMZ3 VAR 01/15/2025 144A 63875DAS0 2502675.00000000 PA USD 2275448.13000000 0.038193627659 Long ABS-MBS CORP US N 2 2037-01-15 Variable 0.03500000 N N N N N N ELP COMMERCIAL MORTGAGE TRUST 2021-ELP N/A ELP COMMERCIAL MORTGAGE TRUST 2021-ELP 1ML+361.49 11/15/2036 144A 26863LAS3 15448000.00000000 PA USD 14360147.21000000 0.241036527461 Long ABS-MBS CORP US N 2 2038-11-15 Variable 0.05614900 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 ENBRIDGE INC SER 1 4% PFD PERP 29250N717 498275.00000000 NS USD 11500187.00000000 0.193031805252 Long EP CORP CA N 1 N N N REALTY INCOME CORP 549300CUWDAUZSH43859 REALTY INCOME CORP 4.875% 06/01/2026 756109BF0 436000.00000000 PA USD 450648.27000000 0.007564176920 Long DBT CORP US N 2 2026-06-01 Fixed 0.04875000 N N N N N N REALOGY GROUP LLC / REALOGY CO-ISSUER CORP N/A REALOGY GROUP LLC / REALOGY CO-ISSUER CORP 5.25% 04/15/2030 144A 75606DAQ4 15000000.00000000 PA USD 11964000.00000000 0.200816953501 Long DBT CORP US N 2 2030-04-15 Fixed 0.05250000 N N N N N N UMH PPTYS INC 529900OM5K3PJ11F0Q09 UMH PROPERTIES INC 903002103 365323.00000000 NS USD 7785033.13000000 0.130672570718 Long EC CORP US N 1 N N N AGNC INVESTMENT CORP 5TRACI5HRMELWV32OF39 AGNC INVESTMENT CORP SER E 6.5%/VAR PFD PERP 00123Q807 1457334.00000000 NS USD 32950321.74000000 0.553074492538 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 121200.00000000 NS USD 1591491.87000000 0.026713352462 Long EP CORP US N 2 N N N PEBBLEBROOK HOTEL TRUST 5493004Q1NNH6JXCSI52 PEBBLEBROOK HOTEL TRUST 6.375% PERP PFD 70509V803 666800.00000000 NS USD 15449756.00000000 0.259325721520 Long EP CORP US N 1 N N N VMC FINANCE 2021-HT1 N/A VMC FINANCE 2021-HT1 B 1ML+450 01/18/2037 144A 91835TAC0 24580000.00000000 PA USD 22948020.73000000 0.385184855557 Long ABS-MBS CORP US N 2 2037-01-18 Variable 0.06656000 N N N N N N ANNALY CAPITAL MANAGEMENT INC 2DTL0G3FPRYUT58TI025 ANNALY CAPITAL MANAGEMENT INC SER I 6.75/VAR PFD PERP 035710847 192992.00000000 NS USD 4554611.20000000 0.076449610963 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 1908000.00000000 PA USD 1567665.84000000 0.026313430131 Long ABS-MBS CORP US N 2 2045-11-10 Variable 0.04662376 N N N 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 5039000.00000000 PA USD 4093256.29000000 0.068705722004 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 750562333.45000000 NS USD 750712445.92000000 12.60078454910 Long STIV RF US N 1 N N N CRSNT TR 2021-MOON N/A CRSNT TR 2021-MOON G 1ML+450 04/15/2036 144A 22877LAJ6 2787000.00000000 PA USD 2616787.60000000 0.043923045285 Long ABS-MBS CORP US N 2 2036-04-15 Variable 0.06500000 N N N N N N ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FIN CORP N/A ICAHN ENTERPRISES LP/FIN CORP 5.25% 05/15/2027 451102BZ9 5000000.00000000 PA USD 4800000.00000000 0.080568486861 Long DBT CORP US N 2 2027-05-15 Fixed 0.05250000 N N N N N N BROOKFIELD ASSET MANAGEMENT INC C6J3FGIWG6MBDGTE8F80 BROOKFIELD ASSET INC VTG CL A 112585104 87100.00000000 NS 4321841.40000000 0.072542546260 Long EC CORP CA N 1 N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 AMERICAN HOMES 4 RENT 02665T306 803500.00000000 NS USD 30436580.00000000 0.510881082465 Long EC CORP US N 1 N N N SUGARHOUSE HSP GAMING PROP MEZZ LP / SUGARHOUSE HSP GAMING FIN CORP N/A SUGARHOUSE HS GMNG MEZZ LP/CRP 5.875% 05/15/2025 144A 865033AC8 8000000.00000000 PA USD 7438366.48000000 0.124853735836 Long DBT CORP US N 2 2025-05-15 Fixed 0.05875000 N N N N N N COMM 2012-CCRE2 MTG TR N/A COMM 2012-CR2 F 4.25% 8/45 12624KBA3 2000000.00000000 PA USD 1595400.00000000 0.026778950820 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 959646.00000000 NS USD 49891995.54000000 0.837442205656 Long EC CORP US N 1 N N N EPR PROPERTIES 549300YSSXFHMPOWZ492 EPR PPTYS 3.6% 11/15/2031 26884UAG4 2000000.00000000 PA USD 1644665.52000000 0.027605877570 Long DBT CORP US N 2 2031-11-15 Fixed 0.03600000 N N N 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 7722000.00000000 PA USD 5907011.85000000 0.099149793047 Long ABS-MBS CORP US N 2 2046-04-15 Variable 0.04159307 N N N N N N SUMMIT HOTEL PROPERTIES INC 254900OBQWJK6X20LS71 SUMMIT HOTEL PPTYS INC SER F 5.875% PERP PFD 866082704 377000.00000000 NS USD 7660640.00000000 0.128584619414 Long EP CORP US N 1 N N N SG COML MTG SECS TR 2020-COVE N/A SG COMMERCIAL MORTGAGE SECURITIES TRUST 2020-COVE F CSTR 03/15/2037 144A 78397FAL7 5000000.00000000 PA USD 4413966.00000000 0.074088867016 Long ABS-MBS CORP US N 2 2037-03-15 Variable 0.03727570 N N N N N N COMM 2012-CCRE2 MTG TR N/A COMM 2012-CR2 E CSTR 8/45 12624KAY2 8000000.00000000 PA USD 7144000.00000000 0.119912764611 Long ABS-MBS CORP US N 2 2045-08-15 Variable 0.04916975 N N N N N N WFRBS COML MTG TR 2011-C5 N/A WFRBS 2011-C5 E CSTR 11/44 92936JAN4 2160343.45000000 PA USD 2154610.98000000 0.036165363840 Long ABS-MBS CORP US N 2 2044-11-15 Variable 0.05519286 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 3955000.00000000 PA USD 3616490.05000000 0.060703152307 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 1866199.00000000 NS USD 41056378.00000000 0.689135469055 Long EP CORP US N 1 N N N LXP INDUSTRIAL TRUST 549300S4MH2ICXDBFV43 LEXINGTON RLTY 6.5 CV PFD PERPPAR=50 529043309 440102.00000000 NS USD 24275040.49000000 0.407459016828 Long EP CORP US N 2 N N N SPIRIT REALTY CAPITAL INC 549300LTU6LVPZSHMJ25 SPIRIT RLTY CAP INC 84860W300 748600.00000000 NS USD 33192924.00000000 0.557146596079 Long EC CORP US N 1 N N N SAUL CENTERS INC N/A SAUL CENTERS INC 6% SER E PFD PERP 804395879 76841.00000000 NS USD 1911804.08000000 0.032089825396 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 6346000.00000000 PA USD 1537209.98000000 0.025802225432 Long ABS-MBS CORP US N 2 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 120000.00000000 NS USD 2878800.00000000 0.048320949995 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 231565.00000000 NS USD 3938920.65000000 0.066115182632 Long EP CORP US N 1 N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 AMERICAN HOMES 4 RENT 5.875% SER G PFD PERP 02665T876 199750.00000000 NS USD 5069655.00000000 0.085094673387 Long EP CORP US N 1 N N N SREIT TR 2021-MFP2 N/A SREIT TR 2021-MFP2 1ML+391.55 11/15/2036 144A 85236WCU8 22872000.00000000 PA USD 21592421.39000000 0.362430983138 Long ABS-MBS CORP US N 2 2036-11-15 Variable 0.05914500 N N N N N N BENCHMARK 2022-B32 MTG TR N/A BENCHMARK 2022-B32 MTG TR 3.0019% 01/15/2055 08163NBJ3 20000000.00000000 PA USD 18591438.00000000 0.312059172549 Long ABS-MBS CORP US N 2 2055-01-15 Fixed 0.03001900 N N N N N N MOTEL 6 TR 2021-MTL6 N/A MOTEL 6 TR 2021-MTL6 G 1ML+470 09/15/2038 144A 61977KAQ9 5093061.54000000 PA USD 5044443.68000000 0.084671498823 Long ABS-MBS CORP US N 2 2038-09-15 Variable 0.06699140 N N N N N N BX COML MTG TR 2021-CIP N/A BX COML MTG TR 2021-CIP 1ML+397.69 11/15/2036 144A 12434FAQ0 31246000.00000000 PA USD 28845469.81000000 0.484174136540 Long ABS-MBS CORP US N 2 2038-12-15 Variable 0.05968000 N N N 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 3401000.00000000 PA USD 3271338.24000000 0.054909744168 Long ABS-MBS CORP US N 2 2034-03-25 Variable 0.05159000 N N N N N N BX 2021-VOLT G N/A BX 2021-VOLT G 1ML+295 09/15/2023 144A 05609VAS4 5000000.00000000 PA USD 4624052.00000000 0.077615181835 Long ABS-MBS CORP US N 2 2036-09-15 Variable 0.04849150 N N N 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 466986.65000000 0.007838418286 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.04600000 N N N N N N KNDR 2021-KIND F N/A KNDR 2021-KIND F 1ML+405 08/15/2026 144A 482606AS9 14155000.00000000 PA USD 13173970.74000000 0.221126435099 Long ABS-MBS CORP US N 2 2038-08-15 Variable 0.05949000 N N N N N N RETAIL VALUE INC 549300VO5RB7323N1Z31 RETAIL VALUE INC 76133Q102 274131.00000000 NS USD 38241.27000000 0.000641883595 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 731427.00000000 NS USD 16691164.14000000 0.280162883065 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 11379000.00000000 PA USD 9372092.60000000 0.157311524897 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 5181000.00000000 PA USD 4778785.50000000 0.080212399327 Long ABS-MBS CORP US N 2 2034-04-15 Variable 0.05599000 N N N N N N URSTADT BIDDLE PPTYS INC 549300XXD0YL0AER3Z82 URSTADT BIDDLE PPTYS INC SER H 6.25% PFD PERP 917286882 281325.00000000 NS USD 6845903.21000000 0.114909179755 Long EP CORP US N 1 N N N RLJ LODGING TR N/A RLJ LODGING TR SER A PC 1.95% PERP 74965L200 31585.00000000 NS USD 826895.30000000 0.013879521482 Long EP CORP US N 2 N N N PROLOGIS INC 529900DFH19P073LZ636 PROLOGIS IN SR Q 8.54% PFD PRP 74340W202 93396.00000000 NS USD 5650458.00000000 0.094843510652 Long EP CORP US N 1 N N N CAPITAL TR RE CDO 05-1 LTD COR 549300EO21RSSTCI1873 CTCDO 2005-1A D 1ML+150 3/50 140558AD9 2250000.00000000 PA USD 225.00000000 0.000003776647 Long ABS-CBDO CORP KY N 3 2050-03-20 Variable 0.03346380 N N N N N N CITIGROUP COML MTG TR 2022-GC48 N/A CITIGROUP COML MTG TR 2022-GC48 2.5% 06/15/2055 144A 29426VAK2 4000000.00000000 PA USD 2568618.00000000 0.043114513663 Long ABS-MBS CORP US N 2 2055-06-15 Fixed 0.02500000 N N N 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 7000000.00000000 PA USD 6390678.00000000 0.107268178432 Long ABS-CBDO CORP US N 2 2051-09-25 Fixed 0.03933000 N N N N N N J P MORGAN CHASE COML MTG SECS TR 2011-C4 N/A JP MORGAN CHASE MTG SE TR 11C4 3.873% 07/15/2046 144A 46636DBA3 1400000.00000000 PA USD 1312092.32000000 0.022023602675 Long ABS-MBS CORP US N 2 2046-07-15 Fixed 0.03873000 N N N N N N TWO HARBORS INVESTMENT COR 549300ZUIBT6KH4HU823 TWO HARBORS INVESTMENT COR CONV 6.25% 01/15/2026 90187BAB7 4896000.00000000 PA USD 4401504.00000000 0.073879691082 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 2541000.00000000 PA USD 1940702.98000000 0.032574896363 Long ABS-MBS CORP US N 2 2035-06-05 Variable 0.03516000 N N N N N N AGELLAN PORTFOLIO N/A AGELLAN PORTFOLIO MEZZ 9% 08/07/2025 N/A 6611000.00000000 PA USD 6611000.00000000 0.110966305550 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 611442.00000000 NS USD 15139303.92000000 0.254114751868 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 5037000.00000000 PA USD 4039885.55000000 0.067809888720 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 252994.00000000 NS USD 6347619.46000000 0.106545436471 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 168100.00000000 NS USD 4205862.00000000 0.070595820268 Long EP CORP US N 1 N N N BX TR 2021-ARIA N/A BX TR 2021-ARIA G 1ML+320 10/15/2036 144A 05608RAQ8 7246000.00000000 PA USD 6665148.32000000 0.111875190593 Long ABS-MBS CORP US N 2 2036-10-15 Variable 0.05141100 N N N 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 16798000.00000000 PA USD 14278300.00000000 0.239662713739 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 77100.00000000 NS USD 1646085.00000000 0.027629703686 Long EP CORP US N 1 N N N BANK 2022-BNK42 N/A BANK 2022-BNK42 C CSTR 06/15/2055 06541MCF9 6500000.00000000 PA USD 5898594.00000000 0.099008498581 Long ABS-MBS CORP US N 2 2055-06-15 Variable 0.04721379 N N N N N N MFA FINANCIAL INC YW72IMH2RRC8Z1TGLG58 MFA FINANCIAL INC 55272X607 2554785.00000000 NS USD 33110013.60000000 0.555754936606 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 729408.00000000 NS USD 18556139.52000000 0.311466683982 Long EP CORP US N 1 N N N IMT TR 2017-APTS N/A IMTT 2017-APTS EFX CSTR 06/15/2034 144A 44974ABE6 9213000.00000000 PA USD 8609896.75000000 0.144517990245 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 4741000.00000000 PA USD 4124670.00000000 0.069233004312 Long ABS-MBS CORP US N 3 2046-01-10 Fixed 0.03500000 N N N N N N BBCMS MTG TR 2019-C3 N/A BBCMS MTG TR 2019-C3 4.178% 05/15/2052 05550MAZ7 4675000.00000000 PA USD 4189681.24000000 0.070324224570 Long ABS-MBS CORP US N 2 2052-05-15 Fixed 0.04178000 N N N N N N FEDERAL NAT MTG ASN GTD REM PA N/A FNW 2002-W1 3B3 CSTR 2/42 31392CMZ4 25997.10960000 PA USD 6545.97000000 0.000109874770 Long ABS-CBDO USGSE US N 2 2042-02-25 Variable 0.03258190 N N N N N N DUKE REALTY CORP 254900E47KH1NFFKNF25 DUKE REALTY CORP REIT 264411505 442800.00000000 NS USD 27701568.00000000 0.464973628634 Long EC CORP US N 1 N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 AMERICAN TOWER CORP 4.05% 03/15/2032 03027XBW9 27000000.00000000 PA USD 25844256.90000000 0.433798473434 Long DBT CORP US N 2 2032-03-15 Fixed 0.04050000 N N N N N N GS MTG SECS TR 2011-GC5 N/A GSMS 2011-GC5 C 5.47 8/44 36191YAJ7 8899000.00000000 PA USD 7386170.00000000 0.123977612625 Long ABS-MBS CORP US N 2 2044-08-10 Variable 0.05158841 N N N N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 NEW RESIDENTIAL INVESTMENT CORP SER B 7.125%/VAR PFD PERP 64828T409 1452357.00000000 NS USD 32547320.37000000 0.546310073666 Long EP CORP US N 1 N N N ELLINGTON FINANCIAL INC 60GS1D1R1YY5G1W7IT74 ELLINGTON FINANCIAL INC 6.75/VAR PFD PERP 28852N208 253318.00000000 NS USD 5413405.66000000 0.090864563081 Long EP CORP US N 1 N N N NECESSITY RETAIL REIT INC/THE 549300GN4H0K3IUS8983 THE NECESSITY RETAIL REIT INC SER C 7.375% PFD PERP 02607T505 379839.00000000 NS USD 9302257.11000000 0.156139329114 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 2142000.00000000 PA USD 2095340.39000000 0.035170500975 Long ABS-CBDO CORP KY N 2 2036-02-22 Variable 0.05111570 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 3456000.00000000 PA USD 3039433.80000000 0.051017204621 Long ABS-MBS CORP US N 3 2049-07-15 Variable 0.05084196 N N N N N N CROWN CASTLE INTERNATIONAL CORP 54930012H97VSM0I2R19 CROWN CASTLE INTL CORP 2.25% 01/15/2031 22822VAT8 5000000.00000000 PA USD 4239486.15000000 0.071160205036 Long DBT CORP US N 2 2031-01-15 Fixed 0.02250000 N N N N N N GLOBAL PARTNERS LP 549300PCHWTW9P4DU444 GLOBAL PARTNERS LP SER B 9.5% PERP PFD 37946R307 67800.00000000 NS USD 1728561.00000000 0.029014071711 Long EP CORP US N 1 N N N ISTAR INC QFFLKWYYS3UPWD86E794 ISTAR INC 5.5% 02/15/2026 45031UCJ8 16985000.00000000 PA USD 16675881.32000000 0.279906359381 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 8138000.00000000 PA USD 716144.00000000 0.012020549678 Long ABS-MBS CORP US N 3 2044-08-10 Variable 0.05158841 N N N N N N HOWARD HUGHES CORP 549300BVHY25JZC1KI49 HOWARD HUGHES CORP 4.375% 02/01/2031 144A 44267DAF4 22625000.00000000 PA USD 19159191.86000000 0.321588978676 Long DBT CORP US N 2 2031-02-01 Fixed 0.04375000 N N N N N N DIAMOND INFRASTRUCTURE FUNDING LLC N/A DIAMOND INFRASTRUCTURE FUNDING LLC 3.475% 04/15/2049 144A 25265LAE0 6311000.00000000 PA USD 5497058.34000000 0.092268681800 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 3699750.50000000 PA USD 3537886.42000000 0.059383782405 Long ABS-MBS CORP US N 2 2045-03-15 Variable 0.05163800 N N N N N N PROVIDENCE PLACE GROUP LTD PARTNERSHIP N/A PPGLP 2000-C1 A2 7.75% 7/28 743784AB6 3115026.03000000 PA USD 3392905.04000000 0.056950255236 Long ABS-MBS CORP US N 2 2028-07-20 Fixed 0.07750000 N N N N N N FORESTAR GROUP INC 549300BC2UB0GHV60V70 FORESTAR GROUP INC 3.85% 05/15/2026 144A 346232AF8 9000000.00000000 PA USD 7955192.16000000 0.133528707296 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 2966000.00000000 PA USD 14830.00000000 0.000248923054 Long ABS-MBS CORP US N 3 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 1074492.00000000 NS USD 25873767.36000000 0.434293809499 Long EP CORP US N 1 N N N AG MORTGAGE INVESTMENT TR INC 549300SNP0PBR2XTFR48 AG MTG INVT 8% PFD PRP 001228303 555892.00000000 NS USD 10953462.74000000 0.183854983094 Long EP CORP US N 1 N N N MERIT SECURITIES CORP N/A MESC 13 M1 VAR 12/33 589962CV9 815884.38900000 PA USD 819555.95000000 0.013756329747 Long ABS-CBDO CORP US N 2 2033-12-28 Variable 0.07880000 N N N N N N EQUITY LIFESTYLE PROPERTIES INC 529900PEQG66LENB6798 EQUITY LIFESTYLE PPTYS INC 29472R108 2185796.00000000 NS USD 160699721.92000000 2.697361132109 Long EC CORP US N 1 N N N GLADSTONE LAND CORP 54930002B3Q17H38FG74 GLADSTONE LAND CORP SER D 5% PFD 01/31/26 376549507 30000.00000000 NS USD 741000.00000000 0.012437760159 Long EP CORP US N 1 N N N BANK 2018-BNK12 N/A BANK 2018-BNK12 D 3% 05/15/2061 144A 06541KAJ7 1682000.00000000 PA USD 1210936.39000000 0.020325690130 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 10833000.00000000 PA USD 9143866.64000000 0.153480729009 Long ABS-MBS CORP US N 2 2048-05-15 Variable 0.04023977 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 4297000.00000000 PA USD 3309663.27000000 0.055553033684 Long ABS-MBS CORP US N 2 2050-06-15 Variable 0.04440658 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 3500000.00000000 PA USD 3210989.60000000 0.053896786124 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 3353000.00000000 PA USD 2391530.60000000 0.040142083692 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 3341000.00000000 PA USD 2836671.04000000 0.047613811128 Long ABS-MBS CORP US N 2 2046-11-15 Variable 0.04896023 N N N N N N UDR INC P3CH2EG5X6Z1XWU1OO74 UDR INC 902653104 162200.00000000 NS USD 7850480.00000000 0.131771103069 Long EC CORP US N 1 N N N AMERICAN FIN TR FINAN OP N/A AMERICAN FIN TR FINAN OP 4.5% 09/30/2028 144A 02608AAA7 30405000.00000000 PA USD 24462950.85000000 0.410613111280 Long DBT CORP US N 2 2028-09-30 Fixed 0.04500000 N N N N N N UBS COML MTG TR 2012-C1 N/A UBSCM 2012-C1 E CSTR 05/45 90269GAQ4 6268000.00000000 PA USD 2444520.00000000 0.041031516146 Long ABS-MBS CORP US N 3 2045-05-10 Variable 0.05000000 N N N N N N WILLSCOT MOBILE MINI HOLDINGS CORP 549300HJ4VIXF476Q166 WILLSCOT MOBILE MINI HOLDINGS CORP 971378104 424300.00000000 NS USD 16382223.00000000 0.274977274694 Long EC CORP US N 1 N N N AMERICAN HOMES 4 RENT 549300ZJUO7A58PNUW40 AMERICAN HOMES 4 RENT SER H 6.25% PERP PFD 02665T868 98905.00000000 NS USD 2561639.50000000 0.042997378833 Long EP CORP US N 1 N N N CREST DARTMOUTH STR 03 1 LTD N/A CRST DRTMTH ST 2003-1 0% PFD 144A 226065209 1220000.00000000 NS USD 122.00000000 0.000002047782 Long EP CORP KY N 3 N N N CLEAR CHANNEL OUTDOOR HOLDINGS INC N/A CLEAR CHANNEL OUTDOOR HOLDINGS INC 7.75% 04/15/2028 144A 18453HAC0 12445000.00000000 PA USD 10009762.40000000 0.168014877168 Long DBT CORP US N 2 2028-04-15 Fixed 0.07750000 N N N N N N SUMIT 2022-BVUE MTG TR N/A SUMI TRUST CORE RMBS 2022-BVUE F CSTR 02/12/2041 144A 865592AN9 3211000.00000000 PA USD 2395274.99000000 0.040204933658 Long ABS-MBS CORP US N 2 2041-02-12 Variable 0.02892490 N N N N N N TPGI 2021-DGWD G N/A TPGI 2021-DGWD G 1ML+380 06/15/2026 144A 87267HAU1 7308000.00000000 PA USD 6686701.61000000 0.112236964752 Long ABS-MBS CORP US N 2 2026-06-15 Variable 0.05850000 N N N N N N ESSEX PROPERTY TRUST INC 549300TR2H2VEFX0NC60 ESSEX PROPERTY TRUST INC 297178105 145000.00000000 NS USD 41546850.00000000 0.697368091323 Long EC CORP US N 1 N N N CSAIL 2017-CX9 COML MTG TR N/A CSAIL 2017-CX9 D CSTR 09/15/2050 144A 12595FAP7 2539000.00000000 PA USD 1953427.38000000 0.032788476708 Long ABS-MBS CORP US N 2 2050-09-15 Variable 0.04070368 N N N N N N SOTHERLY HOTELS INC 549300IYTT21F61LSR10 SOTHERLY HOTELS INC SER B 8% PERP PFD 83600C301 67250.00000000 NS USD 1405525.00000000 0.023591879686 Long EP CORP US N 1 N N N CYXTERA TECHNOLOGIES INC N/A CYXTERA TECHNOLOGIES INC A 23284C102 803700.00000000 NS USD 9797103.00000000 0.164445367569 Long EC 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 2726000.00000000 PA USD 1867304.28000000 0.031342891739 Long ABS-MBS CORP US N 2 2049-09-15 Fixed 0.03000000 N N N N N N HILTON DOMESTIC OPERATING CO INC 5493003EG7H0N1E4XV50 HILTON DOMESTIC OPERATING CO INC 3.625% 02/15/2032 144A 432833AN1 5965000.00000000 PA USD 5144812.50000000 0.086356199647 Long DBT CORP US N 2 2032-02-15 Fixed 0.03625000 N N N N N N RLJ LODGING TRUST LP 549300RX5I8Z6I6LDZ74 RLJ LODGING TRUST LP 3.75% 07/01/2026 144A 74965LAA9 8000000.00000000 PA USD 7504400.00000000 0.125962115167 Long DBT CORP US N 2 2026-07-01 Fixed 0.03750000 N N N N N N M/I HOMES INC 5299005M71FH9CCSFB69 M/I HOMES INC 3.95% 02/15/2030 55305BAV3 19070000.00000000 PA USD 15825442.02000000 0.265631649471 Long DBT CORP US N 2 2030-02-15 Fixed 0.03950000 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 MSC 2011-C2 XB CSTR 6/44 617459AF9 29276678.27830000 PA USD 115692.65000000 0.001941912864 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.00438601 N N N N N N CROWN CASTLE INTERNATIONAL CORP 54930012H97VSM0I2R19 CROWN CASTLE INTL CORP 2.5% 07/15/2031 22822VAY7 5000000.00000000 PA USD 4282683.85000000 0.071885282812 Long DBT CORP US N 2 2031-07-15 Fixed 0.02500000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 DIGITALBRIDGE GROUP INC 7.125% SER J PFD PERP 25401T306 1387346.00000000 NS USD 33226936.70000000 0.557717502699 Long EP CORP US N 1 N N N GREAT AJAX CORP 5493004ID2QQWNGDYC18 GREAT AJAX CORP 38983D300 1663364.00000000 NS USD 18330271.28000000 0.307675462663 Long EC CORP US N 1 N N N ASHFORD HOSPITALITY TRUST INC N/A ASHFORD HOSPITALITY TRUST INC SER I 7.5% PFD PERP 044103885 304279.00000000 NS USD 5473979.21000000 0.091881296262 Long EP CORP US N 1 N N N MPT OPER PARTNERSHIP LP / MPT FIN CORP N/A MPT OPER PARTNERSHIP LP/CORP 4.625% 08/01/2029 55342UAJ3 19835000.00000000 PA USD 18595312.50000000 0.312124206424 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 34125.00000000 NS USD 766447.50000000 0.012864899027 Long EP CORP BM N 1 N N N COMM 2014-CCRE17 MTG TR N/A COMM 2014-CCRE17 E CSTR 05/10/2047 144A 12631DAJ2 3098000.00000000 PA USD 2303467.09000000 0.038663928745 Long ABS-MBS CORP US N 2 2047-05-10 Variable 0.04845520 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 5624050.00000000 PA USD 3895082.62000000 0.065379356852 Long ABS-MBS CORP US N 3 2049-07-15 Variable 0.05084196 N N N N N N ISTAR INC QFFLKWYYS3UPWD86E794 ISTAR INC 7.65 SER G PERP PFD 45031U705 355973.00000000 NS USD 8792533.10000000 0.147583559905 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 679025.00000000 NS 10430222.76000000 0.175072346958 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 8282000.00000000 PA USD 8049443.92000000 0.135110732647 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% 12/15/2026 12505JAD5 10317000.00000000 PA USD 1.03000000 0.000000017288 Long DBT CORP US N 3 2026-12-15 Fixed 0.05950000 Y Y N N N N HEALTHCARE TRUST INC 549300Z2NSUGF5NF2Y30 HEALTHCARE TRUST INC SER A 7.375% PFD PERP 42226B204 364800.00000000 NS USD 9101760.00000000 0.152773964786 Long EP CORP US N 1 N N N AMERICAN HOMES 4 RENT 2015-SFR1 TR N/A AH4R 2015-SFR1 F 5.885% 4/52 144A 02666AAF5 2000000.00000000 PA USD 1979202.60000000 0.033221116390 Long ABS-CBDO CORP US N 2 2052-04-17 Fixed 0.05885000 N N N N N N NEW RESIDENTIAL INVT CORP 549300WNTHGEO5LP2G31 NEW RESIDENTIAL INVESTMENT CORP SER D 7%/VAR PFD PERP 64828T706 151200.00000000 NS USD 3364200.00000000 0.056468438228 Long EP CORP US N 1 N N N MHP 2022-MHIL MEZZ N/A MHP 2022-MHIL MEZZ SOFR+500 01/09/2024 N/A 25400000.00000000 PA USD 24638000.00000000 0.413551329018 Long LON CORP US N 3 2024-01-09 Variable 0.06958580 N N N N N N EASTGROUP PROPERTIES INC 31TIGQQZC4P6JMHKSW85 EASTGROUP PPTYS INC 277276101 68600.00000000 NS USD 11699044.00000000 0.196369640167 Long EC 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 15965000.00000000 PA USD 12851825.00000000 0.215719186178 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 4500000.00000000 PA USD 4425227.55000000 0.074277893275 Long ABS-MBS CORP US N 2 2045-08-15 Variable 0.04916975 N N N N N N BENCHMARK 2022-B35 MTG TR N/A BENCHMARK 2022-B35 MTG TR 2.5% 05/15/2055 144A 08163RAS5 3500000.00000000 PA USD 2225609.75000000 0.037357085396 Long ABS-MBS CORP US N 3 2055-05-15 Fixed 0.02500000 N N N N N N READY CAPITAL CORP 549300MYWGZUG7ZUYO87 READY CAPITAL CORP 6.2% PFD 07/30/26 75574U408 264250.00000000 NS USD 6421275.00000000 0.107781752181 Long EP CORP US N 1 N N N LGI HOMES INC 549300W02B4WNV8CV109 LGI HOMES INC 4% 07/15/2029 144A 50187TAF3 13310000.00000000 PA USD 10962382.20000000 0.184004697135 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 229467.00000000 NS USD 3969779.10000000 0.066633144845 Long EP CORP US N 1 N N N UBS-CITIGROUP COML MTG TR 2011-C1 N/A UBS-CITIGR COML MTG TR 2011-C1 C CSTR 01/10/2045 90268TAN4 3236202.12000000 PA USD 3009667.97000000 0.050517582145 Long ABS-MBS CORP US N 3 2045-01-10 Variable 0.06448368 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 3302000.00000000 PA USD 3192833.24000000 0.053592029780 Long ABS-MBS CORP US N 2 2046-05-15 Variable 0.04018035 N N N N N N UNITI GROUP LP / UNITI FIBER HOLDINGS INC / CSL CAPITAL LLC N/A UNITI GRP/UNITI HLD/CSL 6% 01/15/2030 144A 91327AAB8 18035000.00000000 PA USD 12878347.13000000 0.216164362820 Long DBT CORP US N 2 2030-01-15 Fixed 0.06000000 N N N N N N PUBLIC STORAGE 549300LMZF40TKJ6DM64 PUBLIC STORAGE SER G 5.05% PFD PERP 74460W669 29000.00000000 NS USD 736310.00000000 0.012359038033 Long EP CORP US N 1 N N N LEHMAN ABS MANUF HSG CNTRCT TR N/A LABMH 2001-B M2 7.17% 3/28 52519SAM5 503690.45550000 PA USD 347802.49000000 0.005837900072 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 12720000.00000000 PA USD 12131700.00000000 0.203631815011 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 517638.00000000 NS USD 10301047.96000000 0.172904134838 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 8259000.00000000 PA USD 8496739.44000000 0.142618633319 Long ABS-CBDO CORP US N 2 2052-10-17 Fixed 0.06070000 N N N N N N WF-RBS COML MTG TR 2012-C8 N/A WFRBS 2012-C8 E CSTR 8/45 92936YAR2 1218230.37000000 PA USD 1215640.17000000 0.020404643555 Long ABS-MBS CORP US N 2 2045-08-15 Variable 0.04887708 N N N N N N BXP TR 2021-601L N/A BXP TR 2021-601L VAR 01/15/2044 144A 05607TAL6 5754000.00000000 PA USD 3858633.55000000 0.064767555515 Long ABS-MBS CORP US N 2 2044-01-15 Variable 0.02775460 N N N N N N ARLINGTON ASSET INVESTMENT CORP 549300LA9ZT7L8G7IT53 ARLINGTON ASSET INVT CORP 8.25% PFD PERP 041356700 88934.00000000 NS USD 1823147.00000000 0.030601707315 Long EP CORP US N 1 N N N CONSECO FIN SECURITIZATNS CORP N/A CNF 2002-2 M2 9.163% 3/33 20846QJZ2 374662.85250000 PA USD 341132.51000000 0.005725943781 Long ABS-CBDO CORP US N 2 2033-03-01 Fixed 0.09163000 N N N N N N CITIGROUP COML MTG TR 2022-GC48 N/A CITIGROUP COML MTG TR 2022-GC48 2.5% 06/15/2055 144A 29426VAM8 2000000.00000000 PA USD 1171040.20000000 0.019656028534 Long ABS-MBS CORP US N 2 2055-06-15 Fixed 0.02500000 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 AMERICAN TOWER CORP 03027X100 596400.00000000 NS USD 161523012.00000000 2.711180139608 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 8640000.00000000 PA USD 6693729.41000000 0.112354927088 Long ABS-MBS CORP US N 2 2047-09-15 Fixed 0.04709400 N N N N N N MERIT 2021 N/A MHP 2021-STOR J 1ML+395 07/15/2038 144A 55293BAR6 3476000.00000000 PA USD 3284819.30000000 0.055136025127 Long ABS-MBS CORP US N 2 2038-07-15 Variable 0.05949000 N N N N N N BARCLAYS COMMERCIAL MORTGAGE SECURITIES LLC N/A BARCLAYS COMMERCIAL MORTGAGE SECURITIES LLC 2.689% 11/15/2054 05552XBG2 25000000.00000000 PA USD 22675407.50000000 0.380609014841 Long ABS-MBS CORP US N 2 2054-11-15 Fixed 0.02689000 N N N N N N FRANKLIN BSP REALTY TRUST INC/DUPE N/A FRANKLIN BSP RE 7.5% PFD PERP 35243J200 439441.00000000 NS USD 9241444.23000000 0.155118578755 Long EP CORP US N 1 N N N MPT OPER PARTNERSHIP LP / MPT FIN CORP N/A MPT OPER PARTNERSHIP LP/CORP 5% 10/15/2027 55342UAH7 5000000.00000000 PA USD 4810500.00000000 0.080744730426 Long DBT CORP US N 2 2027-10-15 Fixed 0.05000000 N N N N N N AMERICAN TOWER CORP 5493006ORUSIL88JOE18 AMERICAN TOWER CORP 3.8% 08/15/2029 03027XAW0 5000000.00000000 PA USD 4781605.50000000 0.080259733313 Long DBT CORP US N 2 2029-08-15 Fixed 0.03800000 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 176632.00000000 NS USD 3983051.60000000 0.066855925104 Long EP CORP US N 1 N N N REXFORD INDL RLTY INC 549300MSLO0DF0EMX355 REXFORD INDUSTRIAL REALTY INC 76169C100 67700.00000000 NS USD 4428257.00000000 0.074328742900 Long EC 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 4965000.00000000 PA USD 4034062.50000000 0.067712148235 Long DBT CORP US N 2 2029-01-15 Fixed 0.05750000 N N N N N N SITE CENTERS CORP W2AVA6SODOQ1LCYJQR54 SITE CENTERS CORP 6.375% 12/31/99 PFD PERP 82981J877 102400.00000000 NS USD 2657792.00000000 0.044611308298 Long EP CORP US N 1 N N N JPMBB COML MTG SECS TR 2014-C26 N/A JPMBB 2014-C26 D CSTR 01/15/2048 144A 46643TAL6 3398000.00000000 PA USD 3004606.40000000 0.050432623179 Long ABS-MBS CORP US N 2 2048-01-15 Variable 0.03879176 N N N N N N BX COML MTG TR 2021-CIP N/A BX COML MTG TR 2021-CIP F 1ML+322.73 11/15/2036 144A 12434FAN7 7790000.00000000 PA USD 7281922.18000000 0.122227802392 Long ABS-MBS CORP US N 2 2038-12-15 Variable 0.05218000 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 MSC 2011-C2 D CSTR 6/44 617459AJ1 3685789.40000000 PA USD 3483061.03000000 0.058463532673 Long ABS-MBS CORP US N 2 2044-06-15 Variable 0.05211300 N N N N N N SUNSTONE HOTEL INVS INC NEW 529900ZQ2V52V96ATF67 SUNSTONE HOTEL INVS INC SER H 6.125% PFD PERP 867892804 180000.00000000 NS USD 4176000.00000000 0.070094583569 Long EP CORP US N 1 N N N GREEN TREE FINANCIAL CORP N/A GT 1997-3 M1 7.53% 3/28 393505TZ5 2532570.98160000 PA USD 2439620.81000000 0.040949282745 Long ABS-CBDO CORP US N 2 2028-03-15 Fixed 0.07530000 N N N N N N OMEGA HEALTHCARE INVESTORS INC 549300OJ7ENK42CZ8E73 OMEGA HEALTHCARE INVESTORS INC 4.5% 04/01/2027 REGS 681936BF6 2434000.00000000 PA USD 2347221.06000000 0.039398343569 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 81626.00000000 NS USD 1655375.28000000 0.027785641978 Long EP CORP US N 1 N N N STWD TR 2021-LIH N/A STWD TR 2021-LIH 1ML+355.1 11/15/2036 144A 78486EAS7 15282000.00000000 PA USD 14016677.91000000 0.235271360423 Long ABS-MBS CORP US N 2 2036-11-15 Variable 0.05550000 N N N N N N DIGITALBRIDGE GROUP INC 549300XG87L902AGBO89 DIGITALBRIDGE GROUP INC SER H 7.125% PERP PFD 25401T504 965305.00000000 NS USD 23138360.85000000 0.388379733778 Long EP CORP US N 1 N N N FEDERAL NAT MTG ASN GTD REM PA N/A FNW 2003-W10 2B3 CSTR 6/43 31393DUL3 46107.01260000 PA USD 34727.74000000 0.000582908638 Long ABS-CBDO USGSE US N 3 2043-06-25 Variable 0.03249290 N N N N N N PROLOGIS INC 529900DFH19P073LZ636 PROLOGIS INC REIT 74340W103 513100.00000000 NS USD 68016536.00000000 1.141664455639 Long EC 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 1980623.20000000 0.033244961305 Long ABS-MBS CORP US N 2 2045-11-15 Variable 0.04573752 N N N N N N CSMC 2020-NET N/A CSMC 2020-NET F CSTR 08/15/2037 144A 126438AN0 7050000.00000000 PA USD 6301634.04000000 0.105773566532 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 442321.00000000 NS USD 11889588.48000000 0.199567948591 Long EP CORP US N 1 N N N AVALONBAY COMMUNITIES INC K9G90K85RBWD2LAGQX17 AVALONBAY COMMUNITIES INC REIT 053484101 170600.00000000 NS USD 36498164.00000000 0.612625384728 Long EC CORP US N 1 N N N COLOGIX DATA CTRS US ISSUER LLC / COLOGIX DATA CTRS US CO-ISSUER LLC N/A COLOGIX DATA CTRS US ISSUER LLC / COLOGIX DATA CTRS US CO-ISSUER LLC 5.99% 12/26/2051 144A 19521UAE3 6400000.00000000 PA USD 5815417.60000000 0.097612374270 Long ABS-MBS CORP US N 2 2051-12-26 Fixed 0.05990000 N N N N N N MORGAN STANLEY CAP I INC N/A MSC 1998-CF1 G 7.35% 7/32 61745MHW6 38848.35950000 PA USD 38478.64000000 0.000645867875 Long ABS-MBS CORP US N 2 2032-07-15 Variable 0.07350000 N N N N N N SLG OFFICE TR 2021-OVA N/A SLG OFFICE TR 2021-OVA 2.85061% 07/15/2041 144A 78449RAQ8 5000000.00000000 PA USD 3535130.00000000 0.059337515616 Long ABS-MBS CORP US N 2 2041-07-15 Fixed 0.02850610 N N N N N N MORGAN STANLEY CAP I TR 2011-C2 3IFG42XD94UUZ7FL2766 MSC 2011-C2 F CSTR 6/44 617459AL6 4440000.00000000 PA USD 2886000.00000000 0.048441802725 Long ABS-MBS CORP US N 3 2044-06-15 Variable 0.05211300 N N N N N N JPMCC 2021-1 N/A JPMCC 2021-1MEM E CSTR 10/09/2042 144A 46654BAL1 9552000.00000000 PA USD 7300583.09000000 0.122541027659 Long ABS-MBS CORP US N 2 2042-10-09 Variable 0.02653530 N N N N N N LAMAR ADVERTISING CO 529900Y8WW4MKVPTB543 LAMAR ADVERTISING CO CL A 512816109 207000.00000000 NS USD 20919420.00000000 0.351134586545 Long EC CORP US N 1 N N N CSMC 2020-NET N/A CSMC 2020-NET VAR 08/15/2037 144A 126438AL4 9400000.00000000 PA USD 8467001.12000000 0.142119472602 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 291600.00000000 NS USD 1997460.00000000 0.033527568701 Long EP CORP US N 1 N N N MOTEL 6 TR 2021-MTL6 N/A MOTEL 6 TR 2021-MTL6 H 1ML+600 09/15/2038 144A 61977KAS5 3435600.00000000 PA USD 3369118.74000000 0.056550999778 Long ABS-MBS CORP US N 2 2038-09-15 Variable 0.07999140 N N N N N N 2022-08-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer