0001752724-22-219210.txt : 20220927
0001752724-22-219210.hdr.sgml : 20220927
20220927144331
ACCESSION NUMBER: 0001752724-22-219210
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: 221270426
BUSINESS ADDRESS:
STREET 1: 245 SUMMER STREET
CITY: BOSTON
STATE: MA
ZIP: 02210
BUSINESS PHONE: 617-563-7000
MAIL ADDRESS:
STREET 1: 245 SUMMER STREET
CITY: BOSTON
STATE: MA
ZIP: 02210
0000754510
S000031548
Fidelity Series Real Estate Income Fund
C000098199
Fidelity Series Real Estate Income Fund
FSREX
NPORT-P
1
primary_doc.xml
NPORT-P
false
0000754510
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Fidelity Securities Fund
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LIUMB3NDWOFJPXVROE85
245 Summer Street
Boston
02210
1-800-FIDELITY
Fidelity Series Real Estate Income Fund
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2022-07-31
2022-07-31
N
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0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
955466.66000000
USD
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DIGITAL REALTY TRUST INC
549300HKCZ31D08NEI41
DIGITAL REALTY TRUST INC
253868103
2200.00000000
NS
USD
291390.00000000
0.039287873983
Long
EC
CORP
US
N
1
N
N
N
LIFE 2021-BMR MTG TR
N/A
LIFE 2021-BMR MTG G TR 1ML+305.6 03/15/2036 144A
53218CAN0
1816528.84100000
PA
USD
1673684.46000000
0.225661498860
Long
ABS-MBS
CORP
US
N
2
2038-03-15
Variable
0.04949000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C3
N/A
JPMCC 2011-C3 G CSTR 02/15/2046 144A
46635TBK7
1680000.00000000
PA
USD
116437.10000000
0.015699118404
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
1021000.00000000
PA
USD
971779.22000000
0.131024192783
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
1050.00000000
NS
USD
23845.50000000
0.003215069148
Long
EP
CORP
US
N
1
N
N
N
WELLS FARGO COML MTG TR 2012-LC5
N/A
WELLS FARGO COML MTG TR 12-LC5 CSTR 10/15/2045
94988HAT8
774000.00000000
PA
USD
696086.61000000
0.093852784980
Long
ABS-MBS
CORP
US
N
2
2045-10-15
Variable
0.04727183
N
N
N
N
N
N
EQUINIX INC
549300EVUN2BTLJ3GT74
EQUINIX INC
29444U700
5800.00000000
NS
USD
4081692.00000000
0.550331174495
Long
EC
CORP
US
N
1
N
N
N
UBS COML MTG TR 2012-C1
N/A
UBSCM 2012-C1 F CSTR 5/10/45 144A
90269GAS0
399000.00000000
PA
USD
20392.85000000
0.002749551189
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
6787.00000000
NS
USD
113410.77000000
0.015291080820
Long
EC
CORP
US
N
1
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSYLVANIA REAL EST INVT TR 7.2% PERP PFD C
709102602
9575.00000000
NS
USD
32842.25000000
0.004428093549
Long
EP
CORP
US
N
1
N
N
N
BANK 2017-BNK4
N/A
BANK 2017-BNK4 D 3.357% 05/15/2050 144A
06541FAJ8
625000.00000000
PA
USD
512304.31000000
0.069073568662
Long
ABS-MBS
CORP
US
N
2
2050-05-15
Fixed
0.03357000
N
N
N
N
N
N
BRE/EVERBRIGHT M6 BORROWER LLC
N/A
MOTEL 6 TERM B 1LN 09/09/2026
05601QAB0
1364687.50000000
PA
USD
1322614.18000000
0.178326981821
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
1556000.00000000
PA
USD
1415010.84000000
0.190784747477
Long
DBT
CORP
US
N
2
2024-03-15
Fixed
0.04650000
N
N
N
N
N
N
BRIXMOR OPERATING PARTNERSHIP LP
549300CJHBL7JBUA6503
BRIXMOR OPERATING PARTNERSHIP LP 3.85% 02/01/2025
11120VAA1
1753000.00000000
PA
USD
1729641.73000000
0.233206171540
Long
DBT
CORP
US
N
2
2025-02-01
Fixed
0.03850000
N
N
N
N
N
N
WFRBS COML MTG TR 2013-C11
N/A
WFRBS 2013-C11 D CSTR 3/45
92937EAJ3
65000.00000000
PA
USD
62756.36000000
0.008461388391
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
3695000.00000000
PA
USD
3475110.37000000
0.468546272335
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
970000.00000000
PA
USD
908249.80000000
0.122458573348
Long
DBT
CORP
US
N
2
2028-08-01
Fixed
0.05375000
N
N
N
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6
N/A
MORGAN STAN BAML TR-2012-C6 F CSTR 11/15/2045 144A
61761DAU6
1000000.00000000
PA
USD
933518.00000000
0.125865463967
Long
ABS-MBS
CORP
US
N
3
2045-11-15
Variable
0.04573752
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HBRS INVT CORP SR C 7.25/VAR PERP PFD
90187B507
242924.00000000
NS
USD
5201002.84000000
0.701246934234
Long
EP
CORP
US
N
1
N
N
N
BHP TRUST 2019-BXHP
N/A
BHP TRUST 2019-BXHP F 1ML+293.798 08/15/2036 144A
05550TAL3
1050000.00000000
PA
USD
974344.04000000
0.131370005354
Long
ABS-MBS
CORP
US
N
2
2036-08-15
Variable
0.04936980
N
N
N
N
N
N
CENTURY CMNTYS INC
5299002QMB2O7ZL1CA26
CENTURY COMMUNITIES INC 6.75% 06/01/2027
156504AL6
1330000.00000000
PA
USD
1351625.80000000
0.182238594678
Long
DBT
CORP
US
N
2
2027-06-01
Fixed
0.06750000
N
N
N
N
N
N
WP CAREY INC
54930042CRNE713E3Q67
WP CAREY INC 4.25% 10/01/2026
92936UAE9
459000.00000000
PA
USD
458180.83000000
0.061776144379
Long
DBT
CORP
US
N
2
2026-10-01
Fixed
0.04250000
N
N
N
N
N
N
DBCCRE 2014-ARCP MORTGAGE TRUST
N/A
DBCCRE 2014-ARCP MORTGAGE TRUST VAR 01/10/2034 144A
23305MAL9
2168000.00000000
PA
USD
2007079.77000000
0.270612914234
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
6400.00000000
NS
USD
1212928.00000000
0.163538084406
Long
EC
CORP
US
N
1
N
N
N
WILLIAMS SCOTSMAN INTL INC
549300V3TCHCBOBTGH07
WILLIAMS SCOTSMAN INTL INC 4.625% 08/15/2028 144A
96950GAE2
750000.00000000
PA
USD
703241.25000000
0.094817439205
Long
DBT
CORP
US
N
2
2028-08-15
Fixed
0.04625000
N
N
N
N
N
N
NEW RESIDENTIAL INVT CORP
549300WNTHGEO5LP2G31
NEW RESIDENTIAL INVESTMENT CORP SER C 6.375%/VAR PFD PERP
64828T508
107446.00000000
NS
USD
2159664.60000000
0.291185801337
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
3262918.34000000
PA
USD
3205570.27000000
0.432204402393
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.05700000
N
N
N
N
N
N
ARMADA HOFFLER PROPERTIES INC
549300WQRSIV6XZT9313
ARMADA HOFFLER PPTYS INC SER A 6.75% PFD PERP
04208T207
33250.00000000
NS
USD
857850.00000000
0.115663209776
Long
EP
CORP
US
N
1
N
N
N
HEALTHCARE REALTY TRUST INC
549300L0I14L7I0VLX84
HEALTHCARE REALTY TRUST INC
42226K105
3250.00000000
NS
USD
85312.50000000
0.011502614191
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
2496000.00000000
PA
USD
2380168.13000000
0.320916110887
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
31000.00000000
PA
USD
24346.87000000
0.003282668452
Long
ABS-MBS
CORP
US
N
2
2050-09-10
Fixed
0.03000000
N
N
N
N
N
N
SPIRIT REALTY CAPITAL INC
549300LTU6LVPZSHMJ25
SPIRIT RLTY CAP INC SER A 6% PFD PERP
84860W201
16575.00000000
NS
USD
430618.50000000
0.058059938100
Long
EP
CORP
US
N
1
N
N
N
PROGRESS RESIDENTIAL TRUST 2021-SFR6
N/A
PROGRESS RESIDENTIAL TRUST 2021-SFR6 3.422% 07/17/2038 144A
74333HAN5
1449000.00000000
PA
USD
1273170.95000000
0.171660591795
Long
ABS-CBDO
CORP
US
N
2
2038-07-17
Fixed
0.03422000
N
N
N
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 4.95% 04/01/2024
681936BB5
659000.00000000
PA
USD
661212.45000000
0.089150730677
Long
DBT
CORP
US
N
2
2024-04-01
Fixed
0.04950000
N
N
N
N
N
N
XHR LP
549300M88BPT83ZL2164
XHR LP 6.375% 08/15/2025 144A
98372MAA3
750000.00000000
PA
USD
755332.50000000
0.101840859589
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
28700.00000000
NS
USD
610736.00000000
0.082345032448
Long
EP
CORP
US
N
1
N
N
N
UMH PPTYS INC
529900OM5K3PJ11F0Q09
UMH PPTYS INC 6.75% SER D PFD PERP
903002509
63875.00000000
NS
USD
1627535.00000000
0.219439205134
Long
EP
CORP
US
N
1
N
N
N
REDWOOD TRUST INC
DRBV4N1ERQLEMIF11G78
REDWOOD TRUST INC CONV 5.625% 07/15/2024
758075AD7
8898000.00000000
PA
USD
7918708.54000000
1.067672958004
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
98927.00000000
NS
USD
2256524.87000000
0.304245391858
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
946000.00000000
PA
USD
911893.45000000
0.122949843680
Long
DBT
CORP
US
N
2
2024-05-15
Fixed
0.04250000
N
N
N
N
N
N
CBL and ASSOCS LTD PARTNERSHIP
549300VS75TWHD9JTH89
CBL and ASSOCS LP 5.25% 12/01/2023
12505JAA1
3629000.00000000
PA
USD
0.36000000
0.000000048538
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
79300.00000000
NS
USD
1607411.00000000
0.216725902769
Long
EC
CORP
US
N
1
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LXP INDUSTRIAL TRUST REIT
529043101
463022.00000000
NS
USD
5079351.34000000
0.684844762567
Long
EC
CORP
US
N
1
N
N
N
PROGRESS RESIDENTIAL TRUST 2021-SFR8
N/A
PROGRESS RESIDENTIAL TRUST 2021-SFR8 4.005% 10/17/2038 144A
74333TAQ2
2351000.00000000
PA
USD
2056881.67000000
0.277327663441
Long
ABS-CBDO
CORP
US
N
2
2038-10-17
Fixed
0.04005000
N
N
N
N
N
N
WFRBS COML MTG TR 2011-C3
N/A
WFRBS 2011-C3 D CSTR 3/44
92935VAS7
2587185.67000000
PA
USD
1102141.10000000
0.148600777820
Long
ABS-MBS
CORP
US
N
2
2044-03-15
Variable
0.22813291
N
N
N
N
N
N
CSMC 2019-ICE4
N/A
CSMC 2019-ICE4 1ML+265.535 05/15/2036 144A
12653VAL0
3233000.00000000
PA
USD
3074807.69000000
0.414573791306
Long
ABS-MBS
CORP
US
N
2
2036-05-15
Variable
0.04649000
N
N
N
N
N
N
VORNADO REALTY TRUST
N/A
VORNADO REALTY TRUST SER N 5.25% PERP PFD
929042810
19600.00000000
NS
USD
448252.00000000
0.060437448398
Long
EP
CORP
US
N
1
N
N
N
ADAMS HOMES INC
N/A
ADAMS HOMES INC 7.5% 02/15/2025 144A
00623PAA9
1550000.00000000
PA
USD
1356250.00000000
0.182862071760
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
1491000.00000000
PA
USD
1398010.50000000
0.188492605620
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
34699.00000000
NS
USD
190150.52000000
0.025637838181
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
897661.45020000
PA
USD
8.98000000
0.000001210766
Long
ABS-CBDO
CORP
US
N
3
2052-10-17
Variable
0.00000000
N
N
N
N
N
N
CENTURY CMNTYS INC
5299002QMB2O7ZL1CA26
CENTURY COMMUNITIES INC 3.875% 08/15/2029 144A
156504AM4
1930000.00000000
PA
USD
1643249.23000000
0.221557941837
Long
DBT
CORP
US
N
2
2029-08-15
Fixed
0.03875000
N
N
N
N
N
N
WFRBS COML MTG TR 2013-C13
N/A
WFRBS COML MTG TR 2013-C13 D CSTR 05/15/2045 144A
92937UAJ7
45000.00000000
PA
USD
42878.14000000
0.005781224341
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
30350.00000000
NS
USD
776960.00000000
0.104756877622
Long
EP
CORP
US
N
1
N
N
N
TERRENO RLTY CORP
N/A
TERRENO REALTY CORP
88146M101
28480.00000000
NS
USD
1784272.00000000
0.240571925902
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
500000.00000000
PA
USD
462500.20000000
0.062358521483
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.05345000
N
N
N
N
N
N
WP CAREY INC
54930042CRNE713E3Q67
WP CAREY INC 4% 02/01/2025
92936UAC3
422000.00000000
PA
USD
421694.79000000
0.056856761622
Long
DBT
CORP
US
N
2
2025-02-01
Fixed
0.04000000
N
N
N
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL INC CONV 6.25% 06/15/2024
55272XAA0
2015000.00000000
PA
USD
1814177.10000000
0.244604005933
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
1569000.00000000
PA
USD
1517109.72000000
0.204550655474
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
51200.00000000
NS
USD
864256.00000000
0.116526925486
Long
EC
CORP
US
N
1
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER L 4/VAR PFD PERP
29250N790
19600.00000000
NS
USD
467460.00000000
0.063027247237
Long
EP
CORP
CA
N
1
N
N
N
GS MTG SECS TR 2013-GCJ16
N/A
GSMS 2013-GC16 F 3.5% 11/10/2046
36248GAT7
1510000.00000000
PA
USD
1155852.45000000
0.155842634954
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
40900.00000000
NS
USD
3531306.00000000
0.476123082898
Long
EC
CORP
US
N
1
N
N
N
DCP MIDSTREAM LP
52990024YYS3MLGW0E91
DCP MIDSTREAM LP SER B 7.875/VAR PFD PERP
23311P209
34150.00000000
NS
USD
829162.00000000
0.111795230337
Long
EP
CORP
US
N
1
N
N
N
MERIT 2021
N/A
MERIT 2021-STOR G 1ML+275 07/15/2038 144A
55293BAP0
250000.00000000
PA
USD
230523.08000000
0.031081237233
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.04749000
N
N
N
N
N
N
SREIT TR 2021-IND
N/A
SREIT TR 2021-IND G 1ML+343.21 10/15/2038 144A
78473JAS1
2573000.00000000
PA
USD
2320103.69000000
0.312817671854
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
53702.00000000
NS
USD
1219035.40000000
0.164361540124
Long
EP
CORP
US
N
1
N
N
N
WFRBS COML MTG TR 2013-C11
N/A
WFRBS 2013-C11 E VAR 3/45
92937EAL8
53000.00000000
PA
USD
49884.58000000
0.006725896883
Long
ABS-MBS
CORP
US
N
3
2045-03-15
Variable
0.04229479
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2014-DSTY
N/A
JPMCC 2014-DSTY E CSTR 06/27
46642MAN8
924000.00000000
PA
USD
46226.98000000
0.006232745684
Long
ABS-MBS
CORP
US
N
3
2027-06-10
Variable
0.03804600
N
N
N
N
N
N
WFRBS COML MTG TR 2013-UBS1
N/A
WFRBS COML MTG TR 2013-UBS1 VAR 03/15/2046 144A
92938JAN2
910000.00000000
PA
USD
878134.53000000
0.118398156269
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
735000.00000000
PA
USD
649004.56000000
0.087504750911
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
41125.00000000
NS
USD
1028536.25000000
0.138676696446
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
930000.00000000
PA
USD
706117.72000000
0.095205271289
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
642000.00000000
PA
USD
473483.03000000
0.063839327417
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
300.00000000
NS
USD
5139.00000000
0.000692887142
Long
EC
CORP
US
N
1
N
N
N
PENNYMAC CORP
EWN0I878407TKQNXZ933
PENNYMAC CORP CONV 5.5% 03/15/2026
70932AAF0
250000.00000000
PA
USD
223750.00000000
0.030168028428
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
LA QUITA MORTGAGE TRUST 2022
N/A
LA QUITA MORTGAGE TRUST 2022-LAQ F TFSR1M+57.1 03/15/2039 144A
50172LAQ3
942462.60000000
PA
USD
918842.89000000
0.123886830958
Long
ABS-MBS
CORP
US
N
2
2039-03-15
Variable
0.08071939
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INVT CORP 8.125% SER A PERP PFD
90187B200
244491.00000000
NS
USD
5862894.18000000
0.790489199091
Long
EP
CORP
US
N
1
N
N
N
URSTADT BIDDLE PPTYS INC
549300XXD0YL0AER3Z82
URSTADT BIDDLE PPTYS INC SER K 5.875% PFD PERP
917286874
28775.00000000
NS
USD
656648.38000000
0.088535360873
Long
EP
CORP
US
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C3
N/A
MSC 2011-C3 D CSTR 7/49
61760RAL6
83000.00000000
PA
USD
79560.83000000
0.010727121256
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
1756000.00000000
PA
USD
1685104.13000000
0.227201203571
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
620000.00000000
PA
USD
288300.00000000
0.038871251825
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
500000.00000000
PA
USD
472208.35000000
0.063667463361
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.06350000
N
N
N
N
N
N
HEALTHCARE TRUST INC
549300Z2NSUGF5NF2Y30
HEALTHCARE TRUST INC 7.125% PERP PFD
42226B303
48000.00000000
NS
USD
1080000.00000000
0.145615511521
Long
EP
CORP
US
N
1
N
N
N
CONSECO FIN SECURITIZATNS CORP
N/A
CNF 2002-1 M2 9.546% 12/33
20846QJT6
1216000.00000000
PA
USD
1194906.17000000
0.161108215893
Long
ABS-CBDO
CORP
US
N
2
2033-12-01
Fixed
0.09546000
N
N
N
N
N
N
BX TR 2022-LBA6
N/A
BX TR 2022-LBA6 TSFR1M+335 01/15/2039 144A
12433EAQ4
700000.00000000
PA
USD
656314.68000000
0.088490368377
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.05308580
N
N
N
N
N
N
BX TRUST
N/A
BX TRUST 2.9% 06/15/2023 144A
05608WAS3
992481.75000000
PA
USD
912764.42000000
0.123067275849
Long
ABS-MBS
CORP
US
N
2
2038-06-15
Variable
0.04800000
N
N
N
N
N
N
JPMDB COML MTG SECS TR 2016-C4
N/A
JPMDB 2016-C4 D CSTR 12/15/2049
46646RAB9
1308000.00000000
PA
USD
992377.25000000
0.133801408223
Long
ABS-MBS
CORP
US
N
2
2049-12-15
Variable
0.03069245
N
N
N
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6.125% SER D PFD PERP
804395804
15958.00000000
NS
USD
385545.28000000
0.051982752927
Long
EP
CORP
US
N
1
N
N
N
NATIONAL RETAIL PROPERTIES INC
5493008JKH5SOTI0JS97
NATIONAL RETAIL PROPERTIES INC
637417106
4700.00000000
NS
USD
223767.00000000
0.030170320524
Long
EC
CORP
US
N
1
N
N
N
AGREE REALTY CORP
N/A
AGREE REALTY CORP 4.375% PERP PFD
008492209
38700.00000000
NS
USD
760842.00000000
0.102583700941
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
925000.00000000
PA
USD
777000.00000000
0.104762270789
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
3062000.00000000
PA
USD
2992472.76000000
0.403472640428
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
SOTHERLY HOTELS INC
549300IYTT21F61LSR10
SOTHERLY HOTELS INC SER C 7.875% PERP PFD
83600C400
19300.00000000
NS
USD
401440.00000000
0.054125824949
Long
EP
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C3
N/A
JPMCC 2011-C3 E CSTR 2/46
46635TBD3
3467000.00000000
PA
USD
1199088.99000000
0.161672182073
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
3170000.00000000
PA
USD
2724361.40000000
0.367323406325
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
1260000.00000000
PA
USD
792987.93000000
0.106917910238
Long
ABS-MBS
CORP
US
N
2
2049-08-15
Fixed
0.03000000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C4
N/A
JPMCC 2011-C4 E CSTR 7/46
46636DAY2
1390000.00000000
PA
USD
1334773.08000000
0.179966356305
Long
ABS-MBS
CORP
US
N
2
2046-07-15
Variable
0.05556525
N
N
N
N
N
N
CUBESMART
N/A
CUBESMART
229663109
22500.00000000
NS
USD
1032075.00000000
0.139153823198
Long
EC
CORP
US
N
1
N
N
N
ISTAR INC
QFFLKWYYS3UPWD86E794
ISTAR INC 8.0% SER D PERP PFD
45031U408
75056.00000000
NS
USD
1934193.12000000
0.260785667176
Long
EP
CORP
US
N
1
N
N
N
CITIGROUP COMMERCIAL MORTGAGE TRUST 2016-C3
N/A
CGCMT 2016-C3 D 3% 11/15/2049 144A
17325GAL0
2990000.00000000
PA
USD
2135459.79000000
0.287922286717
Long
ABS-MBS
CORP
US
N
2
2049-11-15
Fixed
0.03000000
N
N
N
N
N
N
HILTON GRAND VACATIONS BORROWER LLC
254900HF0EZ734FDVY79
HILTON GRAND VACATIONS TERM B 1LN 08/02/2028
43283LAH4
356528.88200000
PA
USD
348952.64000000
0.047048997380
Long
LON
CORP
US
N
2
2028-08-02
Variable
0.05372290
N
N
N
N
N
N
LIFE STORAGE INC
W9EE01AFDDF9DQCQZC68
LIFE STORAGE INC
53223X107
3200.00000000
NS
USD
402848.00000000
0.054315664431
Long
EC
CORP
US
N
1
N
N
N
BROOKFIELD PROPERTY PARTNERS LP
5493004J5Z0TZW83NU62
BROOKFIELD PROPERTY PARTN LP 5.75% PFD PERP
N/A
7000.00000000
NS
USD
139020.00000000
0.018743952233
Long
EP
CORP
BM
N
1
N
N
N
ISTAR INC
QFFLKWYYS3UPWD86E794
ISTAR INC 7.5 PFD PERP I
45031U804
303323.00000000
NS
USD
7616440.53000000
1.026918410881
Long
EP
CORP
US
N
1
N
N
N
GLOBAL NET LEASE INC
549300NUYANCT5SU8Z65
GLOBAL NET LEASE INC SER B 6.875% PFD PERP
379378409
47200.00000000
NS
USD
1176696.00000000
0.158652953653
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
250000.00000000
PA
USD
194859.98000000
0.026272810798
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
165100.00000000
NS
USD
3589274.00000000
0.483938860650
Long
EP
CORP
US
N
1
N
N
N
VENTAS INC
ORQTRC074CWLT3DKHT41
VENTAS INC REIT
92276F100
62555.00000000
NS
USD
3364207.90000000
0.453593383541
Long
EC
CORP
US
N
1
N
N
N
SERVICE PROPERTIES TRUST
529900IS770AG1K9QG27
SERVICE PPTYS TR 7.5% 09/15/2025
81761LAA0
1480000.00000000
PA
USD
1434948.80000000
0.193472966221
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
27461.00000000
NS
USD
705473.09000000
0.095118356356
Long
EP
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2013-LC11
N/A
JP MORGAN CH CMS 13-LC11 VAR 04/15/2046 144A
46639YAE7
482000.00000000
PA
USD
161518.20000000
0.021777366030
Long
ABS-MBS
CORP
US
N
2
2046-04-15
Variable
0.03250000
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INV CORP 7.625% SER B PFD PERP
90187B309
436368.00000000
NS
USD
9761552.16000000
1.316142047246
Long
EP
CORP
US
N
1
N
N
N
CSMC 2017-CHOP A
N/A
CSMC 2017-CHOP F 1ML+435 07/15/2032 144A
12651QAQ2
2493000.00000000
PA
USD
2291935.56000000
0.309019786059
Long
ABS-MBS
CORP
US
N
2
2032-07-15
Variable
0.06349000
N
N
N
N
N
N
CUSHMAN and WAKEFIELD US BORROWER LLC
N/A
CUSHMAN and WAKEFIELD US BORROWER LLC 6.75% 05/15/2028 144A
23166MAA1
875000.00000000
PA
USD
865908.75000000
0.116749764409
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
40000.00000000
NS
USD
843600.00000000
0.113741893999
Long
EP
CORP
US
N
1
N
N
N
CALI MTG TR 2019-101C
N/A
CALI MTG TR 2019-101C CSTR 03/10/2039 144A
129890AQ2
651000.00000000
PA
USD
522504.45000000
0.070448845147
Long
ABS-MBS
CORP
US
N
2
2039-03-10
Variable
0.04324435
N
N
N
N
N
N
GLADSTONE COMMERCIAL CORP
529900EVVV534W8R0T32
GLADSTONE COMMERCIAL CORP SER G 6% PFD PERP
376536884
81700.00000000
NS
USD
1838250.00000000
0.247849735236
Long
EP
CORP
US
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C3
N/A
MORGAN STANLEY CAP I TR 2011-C3 C CSTR 07/15/2049 144A
61760RAJ1
464249.11000000
PA
USD
458248.41000000
0.061785256135
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.05084196
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
846000.00000000
PA
USD
799470.34000000
0.107791928245
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
32015.00000000
NS
USD
475102.60000000
0.064057692707
Long
EC
CORP
US
N
1
N
N
N
GLOBAL PARTNERS LP
549300PCHWTW9P4DU444
GLOBAL PARTNERS LP SER A 9.75/VAR PFD PERP
37946R208
1825.00000000
NS
USD
47851.50000000
0.006451778379
Long
EP
CORP
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE
74460D109
6300.00000000
NS
USD
2056383.00000000
0.277260428175
Long
EC
CORP
US
N
1
N
N
N
COMM 2018-HCLV MTG TR
N/A
COMM MORTGAGE TRUST 2018-HCLV G 1ML+505 069/15/2033
20048KAN7
735000.00000000
PA
USD
621577.96000000
0.083806844996
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
4840000.00000000
PA
USD
4679675.00000000
0.630956730445
Long
DBT
CORP
US
N
2
2024-11-01
Fixed
0.05500000
N
N
N
N
Y
PENNYMAC MORTGAGE INVESTMENT TRUST
PENNYMAC MORTGAGE INV TRUST
USD
XXXX
N
N
N
UBS-BAMLL TR 2012-WRM
N/A
UBSBM 2012-WRM D CSTR 6/30
90269PAL5
1817000.00000000
PA
USD
1379119.35000000
0.185945527407
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
1500000.00000000
PA
USD
1361585.25000000
0.183581419129
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
1000000.00000000
PA
USD
944107.80000000
0.127293277989
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
573000.00000000
PA
USD
490038.48000000
0.066071485120
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
203699.00000000
NS
USD
4931552.79000000
0.664917205660
Long
EP
CORP
US
N
1
N
N
N
READY CAPITAL CORP
549300MYWGZUG7ZUYO87
READY CAPITAL CORP 5.75% PFD 02/15/2026
75574U606
61655.00000000
NS
USD
1467389.00000000
0.197846851700
Long
EP
CORP
US
N
1
N
N
N
NATIONAL STORAGE AFFILIATES TRUST
N/A
NATIONAL STORAGE AFFILIATES SER A 6% PFD PERP
637870205
12325.00000000
NS
USD
309850.50000000
0.041776888011
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
1280000.00000000
PA
USD
1177561.98000000
0.158769713024
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
27400.00000000
NS
USD
89324.00000000
0.012043481436
Long
EP
CORP
US
N
1
N
N
N
BX TRUST 2019
N/A
BX TRUST 2019 1ML+265 10/15/2036 144A
056054AL3
1592900.00000000
PA
USD
1513897.74000000
0.204117586853
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.04649000
N
N
N
N
N
N
PROGRESS RESIDENTIAL 2020-SFR1 TR
N/A
PROGRESS RESIDENTIAL 2020-SFR1 TR 5.268% 04/17/2037 144A
74331CAH1
588000.00000000
PA
USD
566143.80000000
0.076332702807
Long
ABS-CBDO
CORP
US
N
2
2037-04-17
Fixed
0.05268000
N
N
N
N
N
N
CITY OFFICE REIT INC
5493003J7157VP25NL57
CITY OFFICE REIT INC 6.625% SER A PFD PERP
178587200
27525.00000000
NS
USD
648489.00000000
0.087435238380
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER E 6.375% PERP PFD
70509V605
55192.00000000
NS
USD
1345580.96000000
0.181423573874
Long
EP
CORP
US
N
1
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 4.75% 01/15/2028
681936BK5
1616000.00000000
PA
USD
1562044.64000000
0.210609193771
Long
DBT
CORP
US
N
2
2028-01-15
Fixed
0.04750000
N
N
N
N
N
N
CUSHMAN and WAKEFIELD PLC
N/A
CUSHMAN and WAKEFIELD PLC
N/A
11300.00000000
NS
USD
189840.00000000
0.025595971025
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
648000.00000000
PA
USD
656407.80000000
0.088502923670
Long
DBT
CORP
US
N
2
2025-06-15
Fixed
0.06125000
N
N
N
N
N
N
COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR
N/A
CD 2017-CD4 D 3.3% 05/10/2050 144A
12515DAF1
1192000.00000000
PA
USD
948816.15000000
0.127928100946
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
166349.00000000
NS
USD
3526598.80000000
0.475488414994
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
537000.00000000
PA
USD
502005.21000000
0.067684949482
Long
ABS-MBS
CORP
US
N
2
2047-03-10
Variable
0.04979838
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C3
N/A
JP MORGAN CHASE CO MT SE 2011-C3 H CSTR 02/15/2046 144A
46635TBN1
1320000.00000000
PA
USD
60886.85000000
0.008209323896
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
450265.17000000
PA
USD
381092.42000000
0.051382377477
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
129625.00000000
NS
USD
3336547.50000000
0.449863954564
Long
EP
CORP
US
N
1
N
N
N
WP GLIMCHER MALL TR 15-WPG
N/A
JPMDB 2015-WPG PR1 CSTAR 6/5/35 144A
92939VAL8
1168000.00000000
PA
USD
959612.56000000
0.129383772025
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
60784.00000000
NS
USD
1255815.68000000
0.169320595018
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
1370612.84000000
PA
USD
1215371.20000000
0.163867499052
Long
ABS-CBDO
CORP
US
N
2
2041-01-17
Fixed
0.04242000
N
N
N
N
N
N
BANK 2017-BNK8
N/A
BANK 2017-BNK8 E 2.8% 11/15/2050 144A
06650AAW7
1848000.00000000
PA
USD
1133006.77000000
0.152762370714
Long
ABS-MBS
CORP
US
N
2
2050-11-15
Fixed
0.02800000
N
N
N
N
N
N
COMM 2012-CCRE1 MTG TR
N/A
COMM 2012-CR1 D CSTR 5/45
12624BAL0
1917000.00000000
PA
USD
1677375.00000000
0.226159091332
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
5067000.00000000
PA
USD
3809868.43000000
0.513681426171
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
2025000.00000000
PA
USD
2023157.25000000
0.272780627636
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
38700.00000000
NS
USD
859914.00000000
0.115941497198
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
17600.00000000
NS
USD
360272.00000000
0.048575177376
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
1095000.00000000
PA
USD
1043031.30000000
0.140631052113
Long
DBT
CORP
US
N
2
2029-12-01
Fixed
0.04625000
N
N
N
N
N
N
DBGS 2018-C1 MTG TR
N/A
DBGS MTG TR 2018-C1 C CSTR 10/15/2051
23307DBE2
1000000.00000000
PA
USD
914508.40000000
0.123302415238
Long
ABS-MBS
CORP
US
N
2
2051-10-15
Variable
0.04632849
N
N
N
N
N
N
ENERGY TRANSFER LP
MTLVN9N7JE8MIBIJ1H73
ENERGY TRANSFER LP 7.6/VAR PFD PERP
29273V605
98525.00000000
NS
USD
2329131.00000000
0.314034816635
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
979600.00000000
PA
USD
515244.62000000
0.069470008240
Long
ABS-MBS
CORP
US
N
3
2049-07-15
Variable
0.05084196
N
N
N
N
N
N
DCP MIDSTREAM LP
52990024YYS3MLGW0E91
DCP MIDSTREAM LP 7.95/VAR PERP PFD
23311P308
36975.00000000
NS
USD
929551.50000000
0.125330664035
Long
EP
CORP
US
N
1
N
N
N
HERSHA HOSPITALITY TR
549300DNC58BIN1VO064
HERSHA HOSPITL 6.875% PFD PERP
427825401
550.00000000
NS
USD
11596.75000000
0.001563580262
Long
EP
CORP
US
N
1
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR RLTY TR I 7.25% PFD PERP
150602407
34165.00000000
NS
USD
327642.35000000
0.044175748510
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
1924000.00000000
PA
USD
1502665.16000000
0.202603107332
Long
ABS-MBS
CORP
US
N
2
2049-12-15
Variable
0.03386649
N
N
N
N
N
N
BX 2021-21M MTG TR
N/A
BX 2021-21M MTG TR 1ML+401 10/15/2036 144A
05609CAU1
1000000.00000000
PA
USD
907050.00000000
0.122296805301
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
2135000.00000000
PA
USD
1886400.60000000
0.254341841022
Long
DBT
CORP
US
N
2
2028-06-30
Fixed
0.03875000
N
N
N
N
N
N
PROGRESS RESIDENTIAL TRUST 2021-SFR6
N/A
PROGRESS RESIDENTIAL TRUST 2021-SFR6 4.003% 07/17/2038 144A
74333HAQ8
749000.00000000
PA
USD
659113.33000000
0.088867708054
Long
ABS-CBDO
CORP
US
N
2
2038-07-17
Fixed
0.04003000
N
N
N
N
N
N
CENTERSPACE
5493002LG2SH9EEHT720
CENTERSPACE 6.625% SER C PFD PERP
15202L206
57700.00000000
NS
USD
1520395.00000000
0.204993607074
Long
EP
CORP
US
N
1
N
N
N
BSREP COML MTG TR 2021-DC
N/A
BSREP COML MTG TR 2021-DC 1ML+285 08/15/2038 144A
05591UAL1
107000.00000000
PA
USD
96358.95000000
0.012991997957
Long
ABS-MBS
CORP
US
N
2
2038-08-15
Variable
0.04850000
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
1078000.00000000
PA
USD
970200.00000000
0.130811267850
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
202000.00000000
PA
USD
206292.50000000
0.027814248065
Long
DBT
CORP
US
N
2
2027-06-15
Fixed
0.05875000
N
N
N
N
N
N
NEW HOME CO INC/THE
549300PLCE8TB3TVRQ85
NEW HOME CO INC/THE 7.25% 10/15/2025 144A
645370AC1
1495000.00000000
PA
USD
1211127.10000000
0.163295270541
Long
DBT
CORP
US
N
2
2025-10-15
Fixed
0.07250000
N
N
N
N
N
N
EG GLOBAL FINANCE PLC
549300TL8Q5207VYET27
EG GLOBAL FINANCE PLC 8.5% 10/30/2025 144A
28228PAB7
305000.00000000
PA
USD
298674.30000000
0.040270010160
Long
DBT
CORP
GB
N
2
2025-10-30
Fixed
0.08500000
N
N
N
N
N
N
SMRT 2022-MINI
N/A
SMRT 2022-MINI TSFR1M+335 01/15/2039 144A
78457JAQ5
3633000.00000000
PA
USD
3354062.62000000
0.452225503784
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.05309000
N
N
N
N
N
N
MHP 2022-MHIL F
N/A
MHP 2022-MHIL F TSFR1M+395.75 01/15/2027 144A
55293DAN1
2562000.00000000
PA
USD
2364849.23000000
0.318850676202
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
4567.00000000
NS
USD
91477.01000000
0.012333770003
Long
EP
CORP
US
N
1
N
N
N
INDEPENDENCE PLAZA TR 2018-INDP
N/A
INDEPENDENCE PLAZA TR 2018-INDP E 4.996% 07/10/2035 144A
45378YAS3
504000.00000000
PA
USD
462582.49000000
0.062369616576
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
9351000.00000000
PA
USD
8008264.94000000
1.079747773741
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
13700.00000000
NS
USD
497584.00000000
0.067088841375
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
992505.48000000
PA
USD
944316.66000000
0.127321438411
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
86075.00000000
NS
USD
2135520.75000000
0.287930505904
Long
EP
CORP
US
N
1
N
N
N
TAH 2017
N/A
TAH 2017 5.104% 01/17/2036 144A
89613FAF5
628000.00000000
PA
USD
619191.17000000
0.083485036064
Long
ABS-CBDO
CORP
US
N
2
2036-01-17
Fixed
0.05104000
N
N
N
N
N
N
WFRBS COML MTG TR 2013-C16
N/A
WFRBS COML MTG TR 2013-C16 CSTR 09/15/2046
92938EBR3
715000.00000000
PA
USD
669752.66000000
0.090302200165
Long
ABS-MBS
CORP
US
N
2
2046-09-15
Variable
0.04982425
N
N
N
N
N
N
COMM 2013-LC6 MTG TR
N/A
COMM 2013-LC6 D MTG TR CSTR 01/10/2046 144A
20048EAE1
1732000.00000000
PA
USD
1671107.21000000
0.225314010363
Long
ABS-MBS
CORP
US
N
2
2046-01-10
Variable
0.04289713
N
N
N
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 D 5.47 8/44
36191YAL2
759236.00000000
PA
USD
323434.54000000
0.043608412949
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
346843.00000000
NS
USD
6836275.53000000
0.921729405745
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GS MTG SECS TR 2011-GC5 4.5% 08/10/2044 144A
36191YAQ1
677000.00000000
PA
USD
2374.85000000
0.000320199071
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
2042000.00000000
PA
USD
1960682.58000000
0.264357219276
Long
DBT
CORP
US
N
2
2027-06-01
Fixed
0.05250000
N
N
N
N
N
N
WFRBS COML MTG TR 2011-C5
N/A
WFRBS COML MTG TR 2011-C5 VAR 11/15/2044 144A
92936JAS3
1000000.00000000
PA
USD
887163.50000000
0.119615524866
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
104900.00000000
NS
USD
2338221.00000000
0.315260413857
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
5305034.57000000
PA
USD
5225459.05000000
0.704544344909
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
805000.00000000
PA
USD
78122.67000000
0.010533215327
Long
ABS-MBS
CORP
US
N
3
2045-06-15
Fixed
0.04000000
N
N
N
N
N
N
CBL and ASSOCS LTD PARTNERSHIP
549300VS75TWHD9JTH89
CBL and ASSOCS LP 4.6% 10/15/2024
12505JAB9
3930000.00000000
PA
USD
0.39000000
0.000000052583
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
42000.00000000
NS
USD
1435980.00000000
0.193612002069
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
50000.00000000
NS
USD
1274000.00000000
0.171772371924
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
2499000.00000000
PA
USD
2361262.37000000
0.318367062819
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
158690.00000000
NS
USD
3554656.00000000
0.479271344189
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
970000.00000000
PA
USD
923925.00000000
0.124572047669
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
0.131930107329
Long
ABS-CBDO
CORP
US
N
2
2036-09-17
Fixed
0.03867000
N
N
N
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER H 5.7% PERP PFD
70509V886
104200.00000000
NS
USD
2169444.00000000
0.292504349794
Long
EP
CORP
US
N
1
N
N
N
WFRBS COML MTG TR 2011-C4
N/A
WFRBS 2011-C4 G 5% 06/15/44
92936CBD0
45000.00000000
PA
USD
1653.52000000
0.000222942741
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
113725.00000000
PA
USD
88023.53000000
0.011868140136
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
68841.04000000
PA
USD
62645.35000000
0.008446421004
Long
ABS-MBS
CORP
US
N
2
2045-05-10
Variable
0.06444404
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2016-BNK2
N/A
MORGAN STANLEY CAP I TR 2016-BNK2 3% 11/15/2049 144A
61690YAC6
2346000.00000000
PA
USD
1824512.35000000
0.245997499188
Long
ABS-MBS
CORP
US
N
2
2049-11-15
Fixed
0.03000000
N
N
N
N
N
N
SG COML MTG SECS TR 2019-PRES
N/A
SG COMMERCIAL MORTGAGE SECURITIES TRUST 2019-PREZ F CSTR 09/15/2039 144A
78430EAN5
2000000.00000000
PA
USD
1551520.60000000
0.209190246116
Long
ABS-MBS
CORP
US
N
2
2039-09-15
Variable
0.03477062
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP 6.875/VAR PERP PFD
00123Q609
85750.00000000
NS
USD
1873637.50000000
0.252621002749
Long
EP
CORP
US
N
1
N
N
N
DIVERSIFIED HEALTHCARE TR
N/A
DIVERSIFIED HEALTHCARE TR 4.75% 05/01/2024
81721MAK5
5970000.00000000
PA
USD
5447069.91000000
0.734423954851
Long
DBT
CORP
US
N
2
2024-05-01
Fixed
0.04750000
N
N
N
N
N
N
GREEN TREE FINANCIAL CORP
N/A
GT 1996-4 M1 7.75% 6/27
393505MR0
3083.30980000
PA
USD
3059.68000000
0.000412534137
Long
ABS-CBDO
CORP
US
N
2
2027-06-15
Variable
0.07750000
N
N
N
N
N
N
HERSHA HOSPITALITY TR
549300DNC58BIN1VO064
HERSHA HOSPITALITY TR 6.5% PERP PFD
427825609
42250.00000000
NS
USD
890630.00000000
0.120082910209
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2016-GS2
N/A
GS MTG SECS TR 2016-GS2 2.753% 05/10/2049
36252TAA3
1964000.00000000
PA
USD
1580742.09000000
0.213130155573
Long
ABS-MBS
CORP
US
N
2
2049-05-10
Fixed
0.02753000
N
N
N
N
N
N
MHC COML MTG TR 2021-MHC
N/A
MHC COML MTG TR 2021-MHC 1ML+260.096 04/15/2038 144A
55316VAL8
694000.00000000
PA
USD
655001.23000000
0.088313276994
Long
ABS-MBS
CORP
US
N
2
2038-04-15
Variable
0.04599962
N
N
N
N
N
N
BX TR 2019-OC11
N/A
BX TR 2019-OC11 4.075457% 12/09/2041 144A
05606FAN3
4666000.00000000
PA
USD
3997262.81000000
0.538947656264
Long
ABS-MBS
CORP
US
N
2
2041-12-09
Variable
0.04075457
N
N
N
N
N
N
MSJP 2015-HAUL
N/A
MSJP 2015-HAUL E 5.012% 09/05/2047 144A
553697AN3
1000000.00000000
PA
USD
760583.70000000
0.102548874565
Long
ABS-MBS
CORP
US
N
2
2047-09-05
Variable
0.04851000
N
N
N
N
N
N
DBUBS 2011 LC3
N/A
DBUBS 2011-LC3A D CSTR 8/44
23305YAM1
548097.16000000
PA
USD
514553.61000000
0.069376839931
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05362838
N
N
N
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 4.125% 02/01/2029 144A
44267DAE7
3000000.00000000
PA
USD
2580558.39000000
0.347934564788
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
329100.00000000
NS
USD
7947765.00000000
1.071590616602
Long
EP
CORP
US
N
1
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER A 8% PERP PFD
16934Q307
500.00000000
NS
USD
11100.00000000
0.001496603868
Long
EP
CORP
US
N
1
N
N
N
BRAEMAR HOTELS and RESORTS INC
549300JDUUEBN868C776
BRAEMAR HOTELS and RESORTS INC SER D 8.25% PFD PERP
10482B309
35150.00000000
NS
USD
880507.50000000
0.118718101862
Long
EP
CORP
US
N
1
N
N
N
SUNBELT MEZZ
N/A
SUNBELT MEZZ SOFR+445 01/21/2027
N/A
4575630.83000000
PA
USD
4575630.83000000
0.616928540597
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
2000000.00000000
PA
USD
1936474.80000000
0.261093304214
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
118800.00000000
NS
USD
1735668.00000000
0.234018688566
Long
EC
CORP
US
N
1
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSLVNA 7.375% PFD PERP
709102503
56533.00000000
NS
USD
197300.17000000
0.026601819609
Long
EP
CORP
US
N
1
N
N
N
RLJ LODGING TRUST LP
549300RX5I8Z6I6LDZ74
RLJ LODGING TRUST LP 4% 09/15/2029 144A
74965LAB7
2245000.00000000
PA
USD
1989631.25000000
0.268260344637
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
2000000.00000000
PA
USD
1736220.00000000
0.234093114272
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
302000.00000000
PA
USD
217771.23000000
0.029361915788
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
1000.00000000
NS
USD
66540.00000000
0.008971533459
Long
EC
CORP
US
N
1
N
N
N
REXFORD INDL RLTY INC
549300MSLO0DF0EMX355
REXFORD INDL RLTY INC SER C 5.625% PERP PFD
76169C407
11775.00000000
NS
USD
294375.00000000
0.039690339078
Long
EP
CORP
US
N
1
N
N
N
HOME PARTNERS AMER 2021-2 TR
N/A
HOME PARTNERS AMER 2021-2 TR 4.505% 12/17/2026 144A
43732VAN6
978475.59000000
PA
USD
862191.20000000
0.116248530201
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
66735.00000000
NS
USD
1157184.90000000
0.156022288091
Long
EP
CORP
US
N
1
N
N
N
ALEN 2021-ACEN MTG TR
N/A
ALEN 2021-ACEN F 1ML+500 04/15/2038 144A
01449NAL0
616000.00000000
PA
USD
498077.46000000
0.067155374180
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
44066.00000000
NS
USD
980027.84000000
0.132136347432
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
3870000.00000000
PA
USD
3618579.26000000
0.487890064747
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
6615000.00000000
PA
USD
6501899.91000000
0.876645815980
Long
DBT
CORP
US
N
2
2026-08-15
Fixed
0.05125000
N
N
N
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HO SR D 8.45% PFD PERP
044103406
50274.00000000
NS
USD
1101000.60000000
0.148447005143
Long
EP
CORP
US
N
1
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13
N/A
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13 D CSTR 11/15/2046 144A
61763BAC8
2994000.00000000
PA
USD
2737170.49000000
0.369050445392
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
38000.00000000
NS
USD
584820.00000000
0.078850799489
Long
EC
CORP
US
N
1
N
N
N
KENNEDY-WILSON INC
5EA4464UK7FM5QNNKL62
KENNEDY-WILSON INC 4.75% 03/01/2029
489399AL9
3800000.00000000
PA
USD
3353500.00000000
0.452149646193
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
1406000.00000000
PA
USD
1272143.32000000
0.171522037287
Long
ABS-MBS
CORP
US
N
2
2037-01-16
Fixed
0.04625400
N
N
N
N
N
N
GS MTG SECS CORP TR 2018-RIVR
N/A
GS MTG SECS CORP TR 2018-RIVR G 1ML+260 07/15/2035 144A
36255WAN5
669000.00000000
PA
USD
523327.86000000
0.070559864840
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
193698.00000000
NS
USD
4726231.20000000
0.637233864591
Long
EP
CORP
US
N
1
N
N
N
CROWN CASTLE INTERNATIONAL CORP
54930012H97VSM0I2R19
CROWN CASTLE INTL CORP
22822V101
30700.00000000
NS
USD
5546262.00000000
0.747797942744
Long
EC
CORP
US
N
1
N
N
N
ISTAR INC
QFFLKWYYS3UPWD86E794
ISTAR INC 4.75% 10/01/2024
45031UCF6
5615000.00000000
PA
USD
5537793.75000000
0.746656175563
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
2515000.00000000
PA
USD
2161687.52000000
0.291458549977
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
17100.00000000
NS
USD
193743.00000000
0.026122209304
Long
EC
CORP
US
N
1
N
N
N
VORNADO REALTY TRUST
N/A
VORNADO REALTY TRUST SER O 4.45% PERP PFD
929042794
55300.00000000
NS
USD
1049594.00000000
0.141515895555
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
925000.00000000
PA
USD
810997.14000000
0.109346077207
Long
DBT
CORP
US
N
2
2027-12-15
Fixed
0.03750000
N
N
N
N
N
N
BCP TR 2021-330N
N/A
BCP TR 2021-330N F 1ML+437.5 06/15/2038 144A
05553BAQ8
1000000.00000000
PA
USD
886727.80000000
0.119556779794
Long
ABS-MBS
CORP
US
N
2
2038-06-15
Variable
0.06633000
N
N
N
N
N
N
BX TR 2021-ACNT
N/A
BX TR 2021-ACNT 1ML+317.3 11/15/2026 144A
05609QAN6
250000.00000000
PA
USD
235376.98000000
0.031735684577
Long
ABS-MBS
CORP
US
N
2
2038-11-15
Variable
0.05295000
N
N
N
N
N
N
UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC
N/A
UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC 6.5% 02/15/2029 144A
91327BAA8
4000000.00000000
PA
USD
3079240.00000000
0.415171396017
Long
DBT
CORP
US
N
2
2029-02-15
Fixed
0.06500000
N
N
N
N
N
N
ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO
N/A
ASHTON WOODS USA LLC/FIN CO 4.625% 08/01/2029 144A
045086AM7
605000.00000000
PA
USD
468961.88000000
0.063229744481
Long
DBT
CORP
US
N
2
2029-08-01
Fixed
0.04625000
N
N
N
N
N
N
TIMES SQUARE HOTEL TR
N/A
TIMES SQUARE HOTEL TR 8.528% 08/01/2026 144A
887367AA8
1232411.07070000
PA
USD
1263944.77000000
0.170416633536
Long
DBT
CORP
US
N
2
2026-08-01
Fixed
0.08528000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT 2014-SFR3 TR
N/A
AH4R 2014-SFR3 E 6.418% 12/36
02665XAE9
1841000.00000000
PA
USD
1886828.57000000
0.254399543865
Long
ABS-CBDO
CORP
US
N
2
2036-12-17
Fixed
0.06418000
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
2018000.00000000
PA
USD
1609680.91000000
0.217031952867
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
4081096.08000000
PA
USD
3816510.87000000
0.514577020892
Long
ABS-MBS
CORP
US
N
2
2038-10-15
Variable
0.05889000
N
N
N
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
800000.00000000
PA
USD
741450.24000000
0.099969125894
Long
ABS-MBS
CORP
US
N
2
2034-06-15
Variable
0.06216018
N
N
N
N
N
N
BENCHMARK 2019-B14 MTG TR
N/A
BENCHMARK 2019-B14 MTG TR VAR 12/15/2062 144A
08162YBP6
859000.00000000
PA
USD
727904.32000000
0.098142740644
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
28800.00000000
NS
USD
1124064.00000000
0.151556624391
Long
EC
CORP
US
N
1
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TRUST
74965L101
14700.00000000
NS
USD
183603.00000000
0.024755041446
Long
EC
CORP
US
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 4.6% 02/06/2024
756109BD5
1757000.00000000
PA
USD
1782129.97000000
0.240283117759
Long
DBT
CORP
US
N
2
2024-02-06
Fixed
0.04600000
N
N
N
N
N
N
PROGRESS RESIDENTIAL 2021
N/A
PROGRESS RESIDENTIAL 2021 4.998% 04/19/2038 144A
74333DAS3
1533000.00000000
PA
USD
1385042.96000000
0.186744202870
Long
ABS-CBDO
CORP
US
N
2
2038-04-19
Fixed
0.04998000
N
N
N
N
N
N
PROGRESS RESIDENTIAL 2019-SFR4 TR
N/A
PROGRESS RESIDENTIAL 2019-SFR4 TR 3.684% 10/17/2036 144A
74331AAL6
1000000.00000000
PA
USD
975159.00000000
0.131479885740
Long
ABS-CBDO
CORP
US
N
2
2036-10-17
Fixed
0.03684000
N
N
N
N
N
N
BRAEMAR HOTELS and RESORTS INC
549300JDUUEBN868C776
BRAEMAR HOTELS and RESORTS INC 5.5% PERP PFD
10482B200
15157.00000000
NS
USD
259942.55000000
0.035047840170
Long
EP
CORP
US
N
2
N
N
N
UNITI GROUP LP / UNITI FIBER HOLDINGS INC / CSL CAPITAL LLC
N/A
UNITI GRP/UNITI HLD/CSL 7.875% 02/15/2025 144A
91327AAA0
1000000.00000000
PA
USD
1006250.00000000
0.135671859693
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
18500.00000000
NS
USD
437340.00000000
0.058966192415
Long
EC
CORP
US
N
1
N
N
N
WELLS FARGO COML MTG TR 2012-LC5
N/A
WFCM 12-LC5 E VAR 4.775603% 10/15/2045 144A
94988HAR2
1539000.00000000
PA
USD
1509507.68000000
0.203525678675
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
10184.00000000
NS
USD
227306.88000000
0.030647599633
Long
EP
CORP
US
N
1
N
N
N
WASHINGTON REAL ESTATE INVS TR
549300DI34BGS8LVKW95
WASHINGTON REAL ESTATE IVST TR
939653101
48600.00000000
NS
USD
1077462.00000000
0.145273315069
Long
EC
CORP
US
N
1
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER C 7.75/VAR PERP PFD
16934Q505
256366.00000000
NS
USD
5588778.80000000
0.753530447911
Long
EP
CORP
US
N
1
N
N
N
BX TR 2021-LGCY
N/A
BX TR 2021-LGCY 1ML+334.6 10/15/2023 144A
12434DAY8
1558000.00000000
PA
USD
1409194.02000000
0.190000470422
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
14314.00000000
NS
USD
2658539.22000000
0.358448655945
Long
EC
CORP
US
N
1
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER 1 4% PFD PERP
29250N717
97425.00000000
NS
USD
2248569.00000000
0.303172708451
Long
EP
CORP
CA
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 4.875% 06/01/2026
756109BF0
1593000.00000000
PA
USD
1646519.93000000
0.221998927627
Long
DBT
CORP
US
N
2
2026-06-01
Fixed
0.04875000
N
N
N
N
N
N
UMH PPTYS INC
529900OM5K3PJ11F0Q09
UMH PROPERTIES INC
903002103
29000.00000000
NS
USD
617990.00000000
0.083323083301
Long
EC
CORP
US
N
1
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER E 6.5%/VAR PFD PERP
00123Q807
279162.00000000
NS
USD
6311852.82000000
0.851021923180
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TRUST 6.375% PERP PFD
70509V803
20200.00000000
NS
USD
468034.00000000
0.063104639184
Long
EP
CORP
US
N
1
N
N
N
FKH 2021-SFR1 F1
N/A
FKH 2021-SFR1 F1 3.238% 08/17/2038 144A
33767WAN3
1250000.00000000
PA
USD
1085811.00000000
0.146399003871
Long
ABS-CBDO
CORP
US
N
2
2038-08-17
Fixed
0.03238000
N
N
N
N
N
N
VMC FINANCE 2021-HT1
N/A
VMC FINANCE 2021-HT1 B 1ML+450 01/18/2037 144A
91835TAC0
3528000.00000000
PA
USD
3293759.85000000
0.444094930914
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
40700.00000000
NS
USD
960520.00000000
0.129506121413
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2012-GCJ9
N/A
GS MTG SECS TR 2012-GCJ9 E CSTR 11/10/2045 144A
36192PAN6
355000.00000000
PA
USD
291677.87000000
0.039326687258
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
961000.00000000
PA
USD
780634.91000000
0.105252362714
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
74293107.33700000
NS
USD
74307965.96000000
10.01888191982
Long
STIV
RF
US
N
1
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT
02665T306
52500.00000000
NS
USD
1988700.00000000
0.268134784966
Long
EC
CORP
US
N
1
N
N
N
COMM 2012-CCRE2 MTG TR
N/A
COMM 2012-CR2 F 4.25% 8/45
12624KBA3
783000.00000000
PA
USD
624599.10000000
0.084214182817
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
51004.00000000
NS
USD
2651697.96000000
0.357526254487
Long
EC
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2013-LC11
N/A
JP MORGAN CH CMS 13-LC11 D CSTR 04/15/2046
46639YAX5
1316000.00000000
PA
USD
1006685.78000000
0.135730615552
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
61000.00000000
NS
USD
1239520.00000000
0.167123461890
Long
EP
CORP
US
N
1
N
N
N
WFRBS COML MTG TR 2011-C5
N/A
WFRBS 2011-C5 E CSTR 11/44
92936JAN4
382733.01000000
PA
USD
381717.43000000
0.051466647061
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
2045000.00000000
PA
USD
1869967.67000000
0.252126202589
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
353833.00000000
NS
USD
7784326.00000000
1.049554270687
Long
EP
CORP
US
N
1
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LEXINGTON RLTY 6.5 CV PFD PERPPAR=50
529043309
71519.00000000
NS
USD
3944827.84000000
0.531877892395
Long
EP
CORP
US
N
2
N
N
N
SPIRIT REALTY CAPITAL INC
549300LTU6LVPZSHMJ25
SPIRIT RLTY CAP INC
84860W300
42000.00000000
NS
USD
1862280.00000000
0.251089680367
Long
EC
CORP
US
N
1
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6% SER E PFD PERP
804395879
13475.00000000
NS
USD
335258.00000000
0.045202560335
Long
EP
CORP
US
N
1
N
N
N
COMM 2012-CCRE1 MTG TR
N/A
COMM 2012-CCRE1 G 2.462% 05/15/2045 144A
12624BAS5
1133000.00000000
PA
USD
274449.88000000
0.037003851540
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
20000.00000000
NS
USD
479800.00000000
0.064691039285
Long
EP
CORP
US
N
1
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HOSPITALITY TRUST INC SER H 7.5% PFD PERP
044103802
35575.00000000
NS
USD
605130.75000000
0.081589281202
Long
EP
CORP
US
N
1
N
N
N
ASHFORD HOSPITALITY TRUST 2018-ASHF
N/A
ASHFORD HOSPITALITY TRUST 2018-ASHF 3ML+310 04/15/2035 144A
04410RAN6
905000.00000000
PA
USD
824184.59000000
0.111124130241
Long
ABS-MBS
CORP
US
N
2
2035-04-15
Variable
0.05099000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT 5.875% SER G PFD PERP
02665T876
37050.00000000
NS
USD
940329.00000000
0.126783785494
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
2000000.00000000
PA
USD
1888109.60000000
0.254572264086
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.05914500
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
740089.92000000
PA
USD
733025.10000000
0.098833171198
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
3549000.00000000
PA
USD
3276341.69000000
0.441746454731
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
599000.00000000
PA
USD
576163.36000000
0.077683631839
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
2793000.00000000
PA
USD
2582995.45000000
0.348263151583
Long
ABS-MBS
CORP
US
N
2
2036-09-15
Variable
0.04849150
N
N
N
N
N
N
RETAIL VALUE INC
549300VO5RB7323N1Z31
RETAIL VALUE INC
76133Q102
24066.00000000
NS
USD
3357.21000000
0.000452649862
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
370096.00000000
NS
USD
8445590.72000000
1.138712048886
Long
EP
CORP
US
N
1
N
N
N
BENCHMARK 2020-B18 MORTGAGE TRUST
N/A
BENCHMARK 2020-B18 MORTGAGE TRUST 4.534% 07/15/2053 144A
08163ABT9
2058000.00000000
PA
USD
1695031.77000000
0.228539739105
Long
ABS-MBS
CORP
US
N
2
2053-07-15
Variable
0.04388490
N
N
N
N
N
N
BX TRUST 2018-EXCL
N/A
BX TRUST 2019-IMC G 1ML+360 04/15/2034 144A
05608BAS9
819000.00000000
PA
USD
755418.90000000
0.101852508830
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
51175.00000000
NS
USD
1245318.04000000
0.167905206853
Long
EP
CORP
US
N
1
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TR SER A PC 1.95% PERP
74965L200
38950.00000000
NS
USD
1019711.00000000
0.137486795249
Long
EP
CORP
US
N
2
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS IN SR Q 8.54% PFD PRP
74340W202
16850.00000000
NS
USD
1019425.00000000
0.137448234104
Long
EP
CORP
US
N
1
N
N
N
DIGITALBRIDGE ISSUER LLC / DIGITALBRIDGE CO-ISSUER LLC
N/A
DIGITALBRIDGE ISSUER LLC / DIGITALBRIDGE CO-ISSUER LLC 3.933% 09/25/2051 144A
25402JAA7
1000000.00000000
PA
USD
912954.00000000
0.123092836764
Long
ABS-CBDO
CORP
US
N
2
2051-09-25
Fixed
0.03933000
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INVESTMENT COR CONV 6.25% 01/15/2026
90187BAB7
904000.00000000
PA
USD
812696.00000000
0.109575133103
Long
DBT
CORP
US
N
2
2026-01-15
Fixed
0.06250000
N
N
N
N
N
TWO HARBORS INVESTMENT COR
TWO HBRS INVT CORP
USD
XXXX
N
N
N
WP GLIMCHER MALL TR 15-WPG
N/A
JPMDB 2015-WPG PR2 CSTR 06/35
92939VAN4
459000.00000000
PA
USD
350563.82000000
0.047266231454
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
1217000.00000000
PA
USD
1217000.00000000
0.164087108816
Long
LON
CORP
US
N
3
2025-08-07
Variable
0.09000000
N
N
N
N
N
N
GREAT AJAX CORP
5493004ID2QQWNGDYC18
GREAT AJAX CORP PC 7.25% 4/30/24
38983D409
310550.00000000
NS
USD
7689218.00000000
1.036730937290
Long
EP
CORP
US
N
2
N
N
N
WELLS FARGO COML MTG TR 2016-NXS6
549300CFP9NBBMZH1008
WELLS FARGO COML MTG TR 2016-NXS6 D 3.059% 11/15/2049 144A
95000KAJ4
963000.00000000
PA
USD
772366.45000000
0.104137533054
Long
ABS-MBS
CORP
US
N
2
2049-11-15
Fixed
0.03059000
N
N
N
N
N
N
BLUEROCK RESIDENTIAL GROWTH REIT INC
549300KWLV0TGICOUU26
BLUEROCK RESIDENTIAL GROWTH REIT INC 7.625% SER C PREF PERP
09627J748
44175.00000000
NS
USD
1108350.75000000
0.149438019821
Long
EP
CORP
US
N
1
N
N
N
BLUEROCK RESIDENTIAL GROWTH REIT INC
549300KWLV0TGICOUU26
BLUEROCK RESIDENTIAL GROWTH REIT INC SER D 7.125% PERP PFD
09627J656
31900.00000000
NS
USD
798138.00000000
0.107612289939
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
1392000.00000000
PA
USD
1280414.91000000
0.172637288962
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
3399000.00000000
PA
USD
2889150.00000000
0.389541717697
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
12400.00000000
NS
USD
264740.00000000
0.035694676407
Long
EP
CORP
US
N
1
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL INC
55272X607
98575.00000000
NS
USD
1277532.00000000
0.172248588579
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
250005.00000000
NS
USD
6360127.20000000
0.857530718122
Long
EP
CORP
US
N
1
N
N
N
BX 2021-SDMF
N/A
BX 2021-SDMF 1ML+193.7 09/15/2023 144A
12434CAQ7
73000.00000000
PA
USD
67862.78000000
0.009149882799
Long
ABS-MBS
CORP
US
N
2
2034-09-15
Variable
0.03936000
N
N
N
N
N
N
IMT TR 2017-APTS
N/A
IMTT 2017-APTS EFX CSTR 06/15/2034 144A
44974ABE6
1693000.00000000
PA
USD
1582172.50000000
0.213323016577
Long
ABS-MBS
CORP
US
N
2
2034-06-15
Variable
0.03496600
N
N
N
N
N
N
COMM 2013-LC6 MTG TR
N/A
COMM 2013-LC6 E MTG TR 3.5% 01/10/2046 144A
20048EAG6
1299000.00000000
PA
USD
1130130.00000000
0.152374498181
Long
ABS-MBS
CORP
US
N
3
2046-01-10
Fixed
0.03500000
N
N
N
N
N
N
COMM 2012-CCRE1 MTG TR
N/A
COMM 2012-CR1 C CSTR 5/45
12624BAH9
3011000.00000000
PA
USD
2773131.00000000
0.373898971372
Long
ABS-MBS
CORP
US
N
2
2045-05-15
Variable
0.05281486
N
N
N
N
N
N
DUKE REALTY CORP
254900E47KH1NFFKNF25
DUKE REALTY CORP REIT
264411505
3200.00000000
NS
USD
200192.00000000
0.026991722669
Long
EC
CORP
US
N
1
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 C 5.47 8/44
36191YAJ7
101000.00000000
PA
USD
83830.00000000
0.011302729935
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
379390.00000000
NS
USD
8502129.90000000
1.146335180012
Long
EP
CORP
US
N
1
N
N
N
ELLINGTON FINANCIAL INC
60GS1D1R1YY5G1W7IT74
ELLINGTON FINANCIAL INC 6.75/VAR PFD PERP
28852N208
88144.00000000
NS
USD
1883637.28000000
0.253969264860
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
205000.00000000
NS
USD
5020450.00000000
0.676903143351
Long
EP
CORP
US
N
1
N
N
N
GPMT 2019-FL2 LTD
N/A
GPMT 2019-FL2 LTD 1ML+295 02/22/2036 144A
36259BAJ6
358000.00000000
PA
USD
350201.61000000
0.047217394977
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
652000.00000000
PA
USD
573411.70000000
0.077312627785
Long
ABS-MBS
CORP
US
N
3
2049-07-15
Variable
0.05084196
N
N
N
N
N
N
GLOBAL PARTNERS LP
549300PCHWTW9P4DU444
GLOBAL PARTNERS LP SER B 9.5% PERP PFD
37946R307
12200.00000000
NS
USD
311039.00000000
0.041937132489
Long
EP
CORP
US
N
1
N
N
N
ISTAR INC
QFFLKWYYS3UPWD86E794
ISTAR INC 5.5% 02/15/2026
45031UCJ8
3015000.00000000
PA
USD
2960128.48000000
0.399111687764
Long
DBT
CORP
US
N
2
2026-02-15
Fixed
0.05500000
N
N
N
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 E CSTR 8/44
36191YAN8
848000.00000000
PA
USD
74624.00000000
0.010061492529
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
1090000.00000000
PA
USD
923028.47000000
0.124451169266
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
1005000.00000000
PA
USD
875383.24000000
0.118027202102
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
961583.33000000
PA
USD
919514.06000000
0.123977324257
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
855593.82010000
PA
USD
931917.92000000
0.125649726497
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
1000000.00000000
PA
USD
883910.24000000
0.119176890497
Long
DBT
CORP
US
N
2
2026-05-15
Fixed
0.03850000
N
N
N
N
N
N
WFRBS COML MTG TR 2011-C3
N/A
WFRBS 2011-C3 E 5% 3/44
92935VAU2
34000.00000000
PA
USD
170.00000000
0.000022920960
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
285785.00000000
NS
USD
6881702.80000000
0.927854327188
Long
EP
CORP
US
N
1
N
N
N
AG MORTGAGE INVESTMENT TR INC
549300SNP0PBR2XTFR48
AG MTG INVT 8% PFD PRP
001228303
108109.00000000
NS
USD
2130212.17000000
0.287214754430
Long
EP
CORP
US
N
1
N
N
N
EQUITY LIFESTYLE PROPERTIES INC
529900PEQG66LENB6798
EQUITY LIFESTYLE PPTYS INC
29472R108
123700.00000000
NS
USD
9094424.00000000
1.226193706256
Long
EC
CORP
US
N
1
N
N
N
GLADSTONE LAND CORP
54930002B3Q17H38FG74
GLADSTONE LAND CORP SER D 5% PFD 01/31/26
376549507
60000.00000000
NS
USD
1482000.00000000
0.199816840810
Long
EP
CORP
US
N
1
N
N
N
BANK 2018-BNK12
N/A
BANK 2018-BNK12 D 3% 05/15/2061 144A
06541KAJ7
318000.00000000
PA
USD
228940.41000000
0.030867847139
Long
ABS-MBS
CORP
US
N
2
2061-05-15
Fixed
0.03000000
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2015-MS1
N/A
MORGAN STANLEY CAP I TR 2015 4.163% 5/15/48
61765DAC2
2045000.00000000
PA
USD
1726133.78000000
0.232733197527
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
1766000.00000000
PA
USD
1360220.00000000
0.183397343594
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
2000000.00000000
PA
USD
1834851.20000000
0.247391477828
Long
ABS-MBS
CORP
US
N
2
2044-11-15
Variable
0.05250000
N
N
N
N
N
N
CD 2017-CD3 MTG TR
N/A
CD 2017-CD3 D 3.25% 02/10/2050 144A
12515GAM9
2226000.00000000
PA
USD
1587696.73000000
0.214067843963
Long
ABS-MBS
CORP
US
N
2
2050-02-10
Fixed
0.03250000
N
N
N
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13
N/A
MSBAM 2013-C13 E CSTR 11/15/46 144A
61763BAE4
659000.00000000
PA
USD
559522.96000000
0.075440020396
Long
ABS-MBS
CORP
US
N
2
2046-11-15
Variable
0.04896023
N
N
N
N
N
N
AMERICAN FIN TR FINAN OP
N/A
AMERICAN FIN TR FINAN OP 4.5% 09/30/2028 144A
02608AAA7
2450000.00000000
PA
USD
1971196.50000000
0.265774802460
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
1236000.00000000
PA
USD
482040.00000000
0.064993056642
Long
ABS-MBS
CORP
US
N
3
2045-05-10
Variable
0.05000000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT SER H 6.25% PERP PFD
02665T868
18925.00000000
NS
USD
490157.50000000
0.066087532489
Long
EP
CORP
US
N
1
N
N
N
CLEAR CHANNEL OUTDOOR HOLDINGS INC
N/A
CLEAR CHANNEL OUTDOOR HOLDINGS INC 7.75% 04/15/2028 144A
18453HAC0
3555000.00000000
PA
USD
2859357.60000000
0.385524832914
Long
DBT
CORP
US
N
2
2028-04-15
Fixed
0.07750000
N
N
N
N
N
N
TPGI 2021-DGWD G
N/A
TPGI 2021-DGWD G 1ML+380 06/15/2026 144A
87267HAU1
1176000.00000000
PA
USD
1076020.95000000
0.145079019483
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
9300.00000000
NS
USD
2664729.00000000
0.359283218890
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
461000.00000000
PA
USD
354679.02000000
0.047821080484
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
12750.00000000
NS
USD
266475.00000000
0.035928605030
Long
EP
CORP
US
N
1
N
N
N
CYXTERA TECHNOLOGIES INC
N/A
CYXTERA TECHNOLOGIES INC A
23284C102
45200.00000000
NS
USD
550988.00000000
0.074289258761
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
522000.00000000
PA
USD
357568.90000000
0.048210720627
Long
ABS-MBS
CORP
US
N
2
2049-09-15
Fixed
0.03000000
N
N
N
N
N
N
M/I HOMES INC
5299005M71FH9CCSFB69
M/I HOMES INC 3.95% 02/15/2030
55305BAV3
1430000.00000000
PA
USD
1186700.69000000
0.160001877775
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
23731268.82360000
PA
USD
93778.86000000
0.012644126545
Long
ABS-MBS
CORP
US
N
2
2044-06-15
Variable
0.00438601
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC 7.125% SER J PFD PERP
25401T306
345049.00000000
NS
USD
8263923.55000000
1.114218013806
Long
EP
CORP
US
N
1
N
N
N
GREAT AJAX CORP
5493004ID2QQWNGDYC18
GREAT AJAX CORP
38983D300
281246.00000000
NS
USD
3099330.92000000
0.417880238232
Long
EC
CORP
US
N
1
N
N
N
BX COML MTG TR 2020-VIVA
N/A
BX COML MTG TR 2020-VIVA CSTR 03/09/2044 144A
12433XAG4
1505000.00000000
PA
USD
1244556.59000000
0.167802541176
Long
ABS-MBS
CORP
US
N
2
2044-03-11
Variable
0.03548750
N
N
N
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HOSPITALITY TRUST INC SER I 7.5% PFD PERP
044103885
54911.00000000
NS
USD
987848.89000000
0.133190853170
Long
EP
CORP
US
N
1
N
N
N
AMERICAN HOMES 4 RENT LP
549300N4PXZ37U8QKI55
AMERICAN HOMES 4 RENT LP 4.25% 02/15/2028
02666TAA5
2000000.00000000
PA
USD
1958796.42000000
0.264102909875
Long
DBT
CORP
US
N
2
2028-02-15
Fixed
0.04250000
N
N
N
N
N
N
MPT OPER PARTNERSHIP LP / MPT FIN CORP
N/A
MPT OPER PARTNERSHIP LP/CORP 4.625% 08/01/2029
55342UAJ3
1506000.00000000
PA
USD
1411875.00000000
0.190361944749
Long
DBT
CORP
US
N
2
2029-08-01
Fixed
0.04625000
N
N
N
N
N
N
BROOKFIELD PROPERTY PARTNERS LP
5493004J5Z0TZW83NU62
BROOKFIELD PROPERTY PARTN LP 6.5% PERP PFD
N/A
5875.00000000
NS
USD
131952.50000000
0.017791047022
Long
EP
CORP
BM
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C3
N/A
MORGAN STANLEY CAP I TR 2011-C3 F CSTR 07/15/2049 144A
61760RAQ5
636000.00000000
PA
USD
440478.40000000
0.059389340305
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
141700.00000000
NS
USD
3499990.00000000
0.471900772380
Long
EP
CORP
US
N
1
N
N
N
BROOKFIELD OFFICE PROPERTIES INC
36ZUFRRMJERSM4Q0S289
BROOKFIELD OFFICE PROPERTIES INC 5.1/VAR SER EE PERP PFD
112900642
7675.00000000
NS
117892.51000000
0.015895350137
Long
EP
CORP
CA
N
1
N
N
N
CBL and ASSOCS LTD PARTNERSHIP
549300VS75TWHD9JTH89
CBL and ASSOCS LP 5.95% 12/15/2026
12505JAD5
2551000.00000000
PA
USD
0.26000000
0.000000035055
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
33000.00000000
NS
USD
823350.00000000
0.111011603158
Long
EP
CORP
US
N
1
N
N
N
NEW RESIDENTIAL INVT CORP
549300WNTHGEO5LP2G31
NEW RESIDENTIAL INVESTMENT CORP SER D 7%/VAR PFD PERP
64828T706
17100.00000000
NS
USD
380475.00000000
0.051299131246
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
7800000.00000000
PA
USD
7566000.00000000
1.020117555717
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
500.00000000
NS
USD
85270.00000000
0.011496883951
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
1140000.00000000
PA
USD
917700.00000000
0.123732736040
Long
DBT
CORP
US
N
2
2029-06-01
Fixed
0.07500000
N
N
N
N
N
N
COMM 2012-CCRE2 MTG TR
N/A
COMM 2012-CR2 D CSTR 8/45
12624KAW6
836000.00000000
PA
USD
822108.94000000
0.110844272060
Long
ABS-MBS
CORP
US
N
2
2045-08-15
Variable
0.04916975
N
N
N
N
N
N
BSREP COML MTG TR 2021-DC
N/A
BSREP COML MTG TR 2021-DC 1ML+385 08/15/2038 144A
05591UAN7
250000.00000000
PA
USD
222615.95000000
0.030015125400
Long
ABS-MBS
CORP
US
N
2
2038-08-15
Variable
0.05850000
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
1000000.00000000
PA
USD
635888.50000000
0.085736323331
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
79050.00000000
NS
USD
1920915.00000000
0.258995389180
Long
EP
CORP
US
N
1
N
N
N
LGI HOMES INC
549300W02B4WNV8CV109
LGI HOMES INC 4% 07/15/2029 144A
50187TAF3
2110000.00000000
PA
USD
1737838.20000000
0.234311294847
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
32129.00000000
NS
USD
555831.70000000
0.074942330847
Long
EP
CORP
US
N
1
N
N
N
COMM 2012-LC4 MTG TR
N/A
COMM 2012-LC4 C CSTR 12/44
126192AG8
802000.00000000
PA
USD
724234.39000000
0.097647927001
Long
ABS-MBS
CORP
US
N
2
2044-12-10
Variable
0.05279403
N
N
N
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C9
549300PFVBG5704L7K74
MSBAM 2013 - C9 C 4.2117% 5/46
61762DBB6
625000.00000000
PA
USD
604337.00000000
0.081482260543
Long
ABS-MBS
CORP
US
N
2
2046-05-15
Variable
0.04018035
N
N
N
N
N
N
MRCD 2019-PARK G
N/A
MRCD 2019-PARK G 4.25% 12/15/2036 144A
55348UBA5
2716000.00000000
PA
USD
2370281.45000000
0.319583097956
Long
ABS-MBS
CORP
US
N
2
2036-12-15
Fixed
0.04250000
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
1040000.00000000
PA
USD
742638.26000000
0.100129305653
Long
DBT
CORP
US
N
2
2030-01-15
Fixed
0.06000000
N
N
N
N
N
N
PROGRESS RESIDENTIAL TRUST 2021-SFR8
N/A
PROGRESS RESIDENTIAL TRUST 2021-SFR8 3.181% 10/17/2038 144A
74333TAN9
934000.00000000
PA
USD
810033.73000000
0.109216181429
Long
ABS-CBDO
CORP
US
N
2
2038-10-17
Fixed
0.03181000
N
N
N
N
N
N
LEHMAN ABS MANUF HSG CNTRCT TR
N/A
LABMH 2001-B M2 7.17% 3/28
52519SAM5
1719612.14540000
PA
USD
1187406.63000000
0.160097059085
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
2405000.00000000
PA
USD
2293768.75000000
0.309266953559
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
86993.00000000
NS
USD
1731169.40000000
0.233412146029
Long
EP
CORP
US
N
1
N
N
N
AMR HMS 15-SFR2
N/A
AMERICAN HOMES 4 RENT 2015-SFR2 TR 6.07% 10/17/2052 144A
02666BAE6
1624000.00000000
PA
USD
1670747.65000000
0.225265531184
Long
ABS-CBDO
CORP
US
N
2
2052-10-17
Fixed
0.06070000
N
N
N
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 3.1% 12/15/2029
756109BK9
1000000.00000000
PA
USD
935268.78000000
0.126101520194
Long
DBT
CORP
US
N
2
2029-12-15
Fixed
0.03100000
N
N
N
N
N
N
WF-RBS COML MTG TR 2012-C8
N/A
WFRBS 2012-C8 E CSTR 8/45
92936YAR2
234834.51000000
PA
USD
234335.20000000
0.031595222236
Long
ABS-MBS
CORP
US
N
2
2045-08-15
Variable
0.04887708
N
N
N
N
N
N
ARLINGTON ASSET INVESTMENT CORP
549300LA9ZT7L8G7IT53
ARLINGTON ASSET INVT CORP 8.25% PFD PERP
041356700
13557.00000000
NS
USD
277918.50000000
0.037471522721
Long
EP
CORP
US
N
1
N
N
N
CONSECO FIN SECURITIZATNS CORP
N/A
CNF 2002-2 M2 9.163% 3/33
20846QJZ2
1541123.31310000
PA
USD
1403200.94000000
0.189192428375
Long
ABS-CBDO
CORP
US
N
2
2033-03-01
Fixed
0.09163000
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP
03027X100
34500.00000000
NS
USD
9343635.00000000
1.259794620369
Long
EC
CORP
US
N
1
N
N
N
JPMBB COML MTG SECS TR 2014-C23
N/A
JPMBB 2014-C23 UH5 4.7094% 09/15/2047 144A
46643AAQ6
1624000.00000000
PA
USD
1258173.21000000
0.169638458849
Long
ABS-MBS
CORP
US
N
2
2047-09-15
Fixed
0.04709400
N
N
N
N
N
N
GLP CAP LP / GLP FING II INC
N/A
GLP CAP LP / GLP FING II INC 5.25% 06/01/2025
361841AJ8
2375000.00000000
PA
USD
2354225.02000000
0.317418222708
Long
DBT
CORP
US
N
2
2025-06-01
Fixed
0.05250000
N
N
N
N
N
N
BXSC 2022-WSS F
N/A
BXSC 2022-WSS F 5.579% 03/15/2035 144A
05610BAQ9
2384000.00000000
PA
USD
2270535.67000000
0.306134456496
Long
ABS-MBS
CORP
US
N
2
2035-03-15
Variable
0.07288000
N
N
N
N
N
N
FRANKLIN BSP REALTY TRUST INC/DUPE
N/A
FRANKLIN BSP RE 7.5% PFD PERP
35243J200
100816.00000000
NS
USD
2120160.48000000
0.285859493336
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
4237000.00000000
PA
USD
4076417.70000000
0.549620044965
Long
DBT
CORP
US
N
2
2027-10-15
Fixed
0.05000000
N
N
N
N
N
N
CHERRY HILL MORTGAGE INVESTMENT CORP
N/A
CHERRY HILL MTG INVT CORP 8.2% SER A PFD PERP
164651200
44924.00000000
NS
USD
1013036.20000000
0.136586837456
Long
EP
CORP
US
N
1
N
N
N
REALOGY GROUP LLC / REALOGY CO-ISSUER CORP
N/A
REALOGY GROUP LLC / REALOGY CO-ISSUER CORP 5.75% 01/15/2029 144A
75606DAL5
2500000.00000000
PA
USD
2031250.00000000
0.273871766461
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
15100.00000000
NS
USD
391920.50000000
0.052842318595
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
602000.00000000
PA
USD
532305.20000000
0.071770272207
Long
ABS-MBS
CORP
US
N
2
2048-01-15
Variable
0.03879176
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2011-C2
3IFG42XD94UUZ7FL2766
MSC 2011-C2 D CSTR 6/44
617459AJ1
1629766.17000000
PA
USD
1540124.63000000
0.207653736856
Long
ABS-MBS
CORP
US
N
2
2044-06-15
Variable
0.05211300
N
N
N
N
N
N
FIRSTKEY HOMES 2021-SFR2 TR
N/A
FIRSTKEY HOMES 2021-SFR2 TR 2.908% 09/17/2038 144A
33767TAN0
500000.00000000
PA
USD
435023.40000000
0.058653847143
Long
ABS-CBDO
CORP
US
N
2
2038-09-17
Fixed
0.02908000
N
N
N
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 5.25% 01/15/2026
681936BH2
22000.00000000
PA
USD
22042.23000000
0.002971935737
Long
DBT
CORP
US
N
2
2026-01-15
Fixed
0.05250000
N
N
N
N
N
N
SUNSTONE HOTEL INVS INC NEW
529900ZQ2V52V96ATF67
SUNSTONE HOTEL INVS INC SER H 6.125% PFD PERP
867892804
20000.00000000
NS
USD
464000.00000000
0.062560738283
Long
EP
CORP
US
N
1
N
N
N
GREEN TREE FINANCIAL CORP
N/A
GT 1997-3 M1 7.53% 3/28
393505TZ5
28690.61400000
PA
USD
27637.61000000
0.003726356219
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
483000.00000000
PA
USD
465779.69000000
0.062800692422
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
14564.00000000
NS
USD
295357.92000000
0.039822865372
Long
EP
CORP
US
N
1
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC SER H 7.125% PERP PFD
25401T504
247310.00000000
NS
USD
5928020.70000000
0.799270154206
Long
EP
CORP
US
N
1
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS INC REIT
74340W103
13400.00000000
NS
USD
1776304.00000000
0.239497607016
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
0.267045796666
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
1057000.00000000
PA
USD
944798.18000000
0.127386361357
Long
ABS-MBS
CORP
US
N
2
2037-08-15
Variable
0.03704200
N
N
N
N
N
N
DIAMONDROCK HOSPITALITY CO
529900KKD4BPVBUAQ734
DIAMONDROCK HOSPITALITY CO 8.25% PFD PERP
252784400
34900.00000000
NS
USD
938112.00000000
0.126484869208
Long
EP
CORP
US
N
1
N
N
N
AVALONBAY COMMUNITIES INC
K9G90K85RBWD2LAGQX17
AVALONBAY COMMUNITIES INC REIT
053484101
9900.00000000
NS
USD
2118006.00000000
0.285569006570
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
1500000.00000000
PA
USD
1362988.50000000
0.183770618172
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
27226.28050000
PA
USD
26967.17000000
0.003635961346
Long
ABS-MBS
CORP
US
N
2
2032-07-15
Variable
0.07350000
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2011-C2
3IFG42XD94UUZ7FL2766
MSC 2011-C2 F CSTR 6/44
617459AL6
1467000.00000000
PA
USD
953550.00000000
0.128566362047
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
500000.00000000
PA
USD
382149.45000000
0.051524895962
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
11000.00000000
NS
USD
1111660.00000000
0.149884203276
Long
EC
CORP
US
N
1
N
N
N
CSMC 2020-NET
N/A
CSMC 2020-NET VAR 08/15/2037 144A
126438AL4
500000.00000000
PA
USD
450372.40000000
0.060723340186
Long
ABS-MBS
CORP
US
N
2
2037-08-15
Variable
0.03704200
N
N
N
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR REALTY TRUST INC SER C 6.50% PFD PERP
150602506
53500.00000000
NS
USD
366475.00000000
0.049411522763
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
499800.00000000
PA
USD
490128.52000000
0.066083625140
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