0001752724-23-213901.txt : 20230925
0001752724-23-213901.hdr.sgml : 20230925
20230925150743
ACCESSION NUMBER: 0001752724-23-213901
CONFORMED SUBMISSION TYPE: NPORT-P
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230731
FILED AS OF DATE: 20230925
DATE AS OF CHANGE: 20230925
PERIOD START: 20230731
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: 231275480
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
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Fidelity Securities Fund
811-04118
0000754510
LIUMB3NDWOFJPXVROE85
245 Summer Street
Boston
02210
1-800-FIDELITY
Fidelity Real Estate Income Fund
S000007192
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2023-07-31
2023-07-31
N
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0.00000000
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0.00000000
0.00000000
0.00000000
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0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
251961.26000000
USD
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DIGITAL REALTY TRUST INC
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DIGITAL REALTY TRUST INC
253868103
103500.00000000
NS
USD
12898170.00000000
0.281059786215
Long
EC
CORP
US
N
1
N
N
N
EQUINIX INC
549300EVUN2BTLJ3GT74
EQUINIX INC 3.2% 11/18/2029
29444UBE5
10000000.00000000
PA
USD
8812744.00000000
0.192035610060
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
3861800.00000000
0.084151215436
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
527141.97000000
0.011486777534
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 TSFR1M+336.448 12/15/2037 144A
12482HAS3
14973000.00000000
PA
USD
14498665.84000000
0.315935665400
Long
ABS-MBS
CORP
US
N
2
2037-12-15
Variable
0.08586480
N
N
N
N
N
N
SERITAGE GROWTH PPTYS
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SERITAGE GROWTH PPTYS SER A 7% PERP PFD
81752R308
91986.00000000
NS
USD
2193866.10000000
0.047805815635
Long
EP
CORP
US
N
1
N
N
N
NEW RESIDENTIAL MORTGAGE LOAN TRUST 2022-SFR2
N/A
NEW RESIDENTIAL MORTGAGE LOAN TRUST 2022-SFR2 4% 09/04/2039 144A
64830RAJ1
2900000.00000000
PA
USD
2479384.00000000
0.054027442419
Long
ABS-CBDO
CORP
US
N
2
2039-09-04
Fixed
0.04000000
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
1875725.40000000
0.040873316131
Long
ABS-MBS
CORP
US
N
2
2053-02-15
Fixed
0.03536000
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE SER M 4.125% PFD PERP
74460W537
53000.00000000
NS
USD
1042944.60000000
0.022726463235
Long
EP
CORP
US
N
1
N
N
N
EQUINIX INC
549300EVUN2BTLJ3GT74
EQUINIX INC
29444U700
65000.00000000
NS
USD
52644800.00000000
1.147165546224
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
106329.36000000
0.002316988161
Long
ABS-MBS
CORP
US
N
3
2045-05-10
Variable
0.05000000
N
N
N
N
N
N
BENCHMARK 2019-B13 MTG TR
N/A
BENCHMARK 2019-B13 A4 2.952% 08/15/2057
08162DAE8
19715000.00000000
PA
USD
17182468.27000000
0.374417522688
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
54351.00000000
0.001184344790
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
3116023.08000000
0.067900235514
Long
ABS-MBS
CORP
US
N
2
2065-04-15
Variable
0.03790088
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
10283827.69000000
0.224091511588
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
8116120.00000000
PA
USD
8055249.10000000
0.175529287484
Long
LON
CORP
US
N
2
2026-09-09
Variable
0.10415520
N
N
N
N
N
N
BMO 2023-5C1 MTG TR
N/A
BMO 2023-5C1 MTG TR 7.25502% 08/15/2056
055986AF0
3500000.00000000
PA
USD
3594538.50000000
0.078327407868
Long
ABS-MBS
CORP
US
N
2
2056-08-15
Variable
0.07255020
N
N
N
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 5.375% 08/01/2028 144A
44267DAD9
11900000.00000000
PA
USD
10918250.00000000
0.237915999777
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
1541306.00000000
0.033586092821
Long
ABS-MBS
CORP
US
N
3
2045-11-15
Variable
0.04522128
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
8172533.07000000
0.178084983954
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
8650807.88000000
0.188506913255
Long
ABS-MBS
CORP
US
N
2
2052-03-15
Fixed
0.04052900
N
N
N
N
N
N
BANK 2021-BNK36
N/A
BANK 2021-BNK36 2.47% 09/15/2064
06540DBH7
25000000.00000000
PA
USD
20360912.50000000
0.443677956981
Long
ABS-MBS
CORP
US
N
2
2064-09-15
Fixed
0.02470000
N
N
N
N
N
N
CENTURY CMNTYS INC
5299002QMB2O7ZL1CA26
CENTURY COMMUNITIES INC 6.75% 06/01/2027
156504AL6
4670000.00000000
PA
USD
4688072.90000000
0.102156256820
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 TSFR1M+357.368 92 05/15/2026 144A
12658RAA8
8146317.63000000
PA
USD
7692308.69000000
0.167620572214
Long
ABS-MBS
CORP
US
N
2
2026-05-15
Variable
0.08795680
N
N
N
N
N
N
EXTRA SPACE STORAGE INC
N/A
EXTRA SPACE STORAGE INC
30225T102
192949.00000000
NS
USD
26929891.93000000
0.586820430235
Long
EC
CORP
US
N
1
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
4006973.53000000
0.087314644148
Long
ABS-MBS
CORP
US
N
2
2046-05-15
Variable
0.03845016
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4% PFD PERP
74460W420
342600.00000000
NS
USD
6372360.00000000
0.138858003832
Long
EP
CORP
US
N
1
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP SER C 6.375%/VAR PFD PERP
64828T508
1074554.00000000
NS
USD
21351387.98000000
0.465261082855
Long
EP
CORP
US
N
1
N
N
N
SREIT TR 2021-MFP
N/A
SREIT TR 2021-MFP G TSFR1M+308.828 38 11/15/2038 144A
78472UAN8
3874000.00000000
PA
USD
3676255.54000000
0.080108077048
Long
ABS-MBS
CORP
US
N
2
2038-11-15
Variable
0.08309920
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
5863599.50000000
0.127771770873
Long
EP
CORP
US
N
1
N
N
N
HEALTHCARE REALTY TRUST INC
549300L0I14L7I0VLX84
HEALTHCARE REALTY TRUST INC
42226K105
186360.00000000
NS
USD
3639610.80000000
0.079309563554
Long
EC
CORP
US
N
1
N
N
N
COMM 2017-COR2
N/A
COMM 2017-COR2 D 3% 09/10/2050 144A
12595EAN5
2769000.00000000
PA
USD
1798401.54000000
0.039188377293
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
121125.00000000
NS
USD
2739847.50000000
0.059703117001
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
2834759.83000000
0.061771320411
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 TSFR1M+401.448 04/15/2060 144A
92230AAL0
6685000.00000000
PA
USD
3550057.22000000
0.077358130905
Long
ABS-MBS
CORP
US
N
2
2039-07-15
Variable
0.09236480
N
N
N
N
N
N
XHR LP
549300M88BPT83ZL2164
XHR LP 6.375% 08/15/2025 144A
98372MAA3
4250000.00000000
PA
USD
4178432.25000000
0.091050844802
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
217700.00000000
NS
USD
4147185.00000000
0.090369946240
Long
EP
CORP
US
N
1
N
N
N
UMH PPTYS INC
529900OM5K3PJ11F0Q09
UMH PPTYS INC 6.75% SER D PFD PERP
903002509
694525.00000000
NS
USD
14987849.50000000
0.326595305868
Long
EP
CORP
US
N
1
N
N
N
REDWOOD TRUST INC
DRBV4N1ERQLEMIF11G78
REDWOOD TRUST INC CONV 5.625% 07/15/2024
758075AD7
3631000.00000000
PA
USD
3522294.87000000
0.076753170655
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
298683.00000000
NS
USD
6750235.80000000
0.147092171280
Long
EP
CORP
US
N
1
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
0.000000024841
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
998900.00000000
NS
USD
14743764.00000000
0.321276518905
Long
EC
CORP
US
N
1
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LXP INDUSTRIAL TRUST REIT
529043101
3644474.00000000
NS
USD
36699853.18000000
0.799714447003
Long
EC
CORP
US
N
1
N
N
N
VICI PROPERTIES LP
254900X4QE7SGKQLLN38
VICI PROPERTIES LP 5.125% 05/15/2032
925650AD5
34000000.00000000
PA
USD
31994309.40000000
0.697177487974
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
503529.70000000
PA
USD
156723.62000000
0.003415112929
Long
ABS-MBS
CORP
US
N
2
2044-03-15
Variable
0.05854510
N
N
N
N
N
N
VORNADO REALTY TRUST
N/A
VORNADO REALTY TRUST SER N 5.25% PERP PFD
929042810
50700.00000000
NS
USD
756444.00000000
0.016483422758
Long
EP
CORP
US
N
1
N
N
N
ADAMS HOMES INC
N/A
ADAMS HOMES INC 7.5% 02/15/2025 144A
00623PAA9
7530000.00000000
PA
USD
7396882.93000000
0.161183046507
Long
DBT
CORP
US
N
2
2025-02-15
Fixed
0.07500000
N
N
N
N
N
N
BENCHMARK 2022-B34 MORTGAGE TRUST
N/A
BENCHMARK 2022-B34 MORTGAGE TRUST 3.786% 04/15/2055
08161YBG7
22168402.00000000
PA
USD
19203214.19000000
0.418450933340
Long
ABS-MBS
CORP
US
N
2
2055-04-15
Fixed
0.03786000
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
10891631.14000000
0.237335956941
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.09421640
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC
25401T603
361288.00000000
NS
USD
5787833.76000000
0.126120784517
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
4484674.54380000
PA
USD
44.85000000
0.000000977311
Long
ABS-CBDO
CORP
US
N
3
2052-10-17
Variable
0.00000000
N
N
N
N
N
N
KIMCO REALTY CORP
N/A
KIMCO REALTY CORP 5.125% PERP PFD
49446R737
49000.00000000
NS
USD
1135330.00000000
0.024739603144
Long
EP
CORP
US
N
1
N
N
N
CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATE
N/A
CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATES TSFR1M+382.888 44 08/15/2023 144A
12659XAA4
18000000.00000000
PA
USD
16519208.40000000
0.359964644701
Long
ABS-MBS
CORP
US
N
2
2023-08-15
Variable
0.09051400
N
N
N
N
N
N
CENTURY CMNTYS INC
5299002QMB2O7ZL1CA26
CENTURY COMMUNITIES INC 3.875% 08/15/2029 144A
156504AM4
13005000.00000000
PA
USD
11310253.43000000
0.246458017771
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
3955000.00000000
PA
USD
3282650.00000000
0.071531148001
Long
ABS-MBS
CORP
US
N
3
2045-05-15
Variable
0.04043841
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
4311992.31000000
0.093961208203
Long
EP
CORP
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 5.35% 08/01/2053
74460WAH0
5000000.00000000
PA
USD
4996605.75000000
0.108879394820
Long
DBT
CORP
US
N
2
2053-08-01
Fixed
0.05350000
N
N
N
N
N
N
CUSHMAN and WAKEFIELD US BORROWER LLC
549300870CMN3WI5IF97
CUSHMAN and WAKEFIELD TERM B 1LN 01/31/2028
23340DAQ5
2637788.06800000
PA
USD
2545465.49000000
0.055467402463
Long
LON
CORP
US
N
2
2028-01-31
Variable
0.08668650
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 5.15% SER F PFD PERP
74460W685
25800.00000000
NS
USD
634422.00000000
0.013824481433
Long
EP
CORP
US
N
1
N
N
N
TERRENO RLTY CORP
N/A
TERRENO REALTY CORP
88146M101
286228.00000000
NS
USD
16984769.52000000
0.370109534159
Long
EC
CORP
US
N
1
N
N
N
OPG TR 2021-PORT
N/A
OPG TR 2021-PORT TSFR1M+346.048 6 10/15/2036 144A
67118AAU9
8311048.04850000
PA
USD
7864254.42000000
0.171367385142
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.08682480
N
N
N
N
N
N
BENCHMARK 2022-B36 MTG TR
N/A
BENCHMARK 2022-B36 MTG TR 4.4699% 07/15/2055
08163QBH0
4900000.00000000
PA
USD
4591445.53000000
0.100050681537
Long
ABS-MBS
CORP
US
N
2
2055-07-15
Fixed
0.04469900
N
N
N
N
N
N
BENCHMARK 2021-B29 MORTGAGE TRUST
N/A
BENCHMARK 2021-B29 A5 MORTGAGE TRUST 2.3879% 09/15/2054
08163JAE4
15000000.00000000
PA
USD
12098653.50000000
0.263637784755
Long
ABS-MBS
CORP
US
N
2
2054-09-15
Fixed
0.02387900
N
N
N
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL INC CONV 6.25% 06/15/2024
55272XAA0
9700000.00000000
PA
USD
9577931.42000000
0.208709557812
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
4768092.61000000
PA
USD
4365296.07000000
0.095122732930
Long
ABS-MBS
CORP
US
N
2
2045-11-10
Variable
0.04614017
N
N
N
N
N
N
SPIRIT REALTY LP
549300GTBVIBJRX5BW73
SPIRIT REALTY LP 4% 07/15/2029
84861TAD0
1000000.00000000
PA
USD
894133.88000000
0.019483777711
Long
DBT
CORP
US
N
2
2029-07-15
Fixed
0.04000000
N
N
N
N
N
N
POSTAL REALTY TRUST INC
5493007B7ZZSIJRGWC41
POSTAL REALTY TRUST INC
73757R102
878500.00000000
NS
USD
13238995.00000000
0.288486591850
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
2105460.00000000
0.045879387346
Long
EP
CORP
CA
N
1
N
N
N
CUSHMAN and WAKEFIELD US BORROWER LLC
549300870CMN3WI5IF97
CUSHMAN and WAKEFIELD TERM B 1LN 08/21/2025
23340DAP7
2091232.35200000
PA
USD
2084435.85000000
0.045421256998
Long
LON
CORP
US
N
2
2025-08-21
Variable
0.07966970
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
5919852.34000000
0.128997558033
Long
ABS-MBS
CORP
US
N
2
2046-11-10
Fixed
0.03500000
N
N
N
N
N
N
WELLTOWER INC
N/A
WELLTOWER INC
95040Q104
719100.00000000
NS
USD
59074065.00000000
1.287263548222
Long
EC
CORP
US
N
1
N
N
N
ENERGY TRANSFER LP
MTLVN9N7JE8MIBIJ1H73
ENERGY TRANSFER LP 7.125/VAR PERP
29273VAM2
6000000.00000000
PA
USD
5269806.84000000
0.114832630043
Long
EP
CORP
US
N
2
N
N
N
SREIT TR 2021-IND
N/A
SREIT TR 2021-IND G TSFR1M+338.026 21 10/15/2038 144A
78473JAS1
12754000.00000000
PA
USD
11925354.76000000
0.259861488830
Long
ABS-MBS
CORP
US
N
2
2038-10-15
Variable
0.08602255
N
N
N
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER F 6.3% PERP PFD
70509V704
281697.00000000
NS
USD
5535346.05000000
0.120618907755
Long
EP
CORP
US
N
1
N
N
N
WELLTOWER OP LLC
T6IZ0MBEG5ACZDTR7D06
WELLTOWER OP LLC 4% 06/01/2025
42217KBF2
5000000.00000000
PA
USD
4842857.40000000
0.105529115022
Long
DBT
CORP
US
N
2
2025-06-01
Fixed
0.04000000
N
N
N
N
N
N
WFRBS COML MTG TR 2013-C11
N/A
WFRBS 2013-C11 E VAR 3/45
92937EAL8
4727000.00000000
PA
USD
2492940.86000000
0.054322855502
Long
ABS-MBS
CORP
US
N
3
2045-03-15
Variable
0.04061359
N
N
N
N
N
N
BENCHMARK 2022-B35 MTG TR
N/A
BENCHMARK 2022-B35 MTG TR 4.59391% 05/15/2055
08163RBV7
7000000.00000000
PA
USD
5080029.50000000
0.110697254357
Long
ABS-MBS
CORP
US
N
2
2055-05-15
Variable
0.04444771
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
19912.02000000
0.000433896287
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
3153920.00000000
0.068726034851
Long
ABS-MBS
CORP
US
N
3
2045-06-15
Fixed
0.04000000
N
N
N
N
N
N
BENCHMARK 2019-B13 MTG TR
N/A
BENCHMARK 2019-B13 D MTG TR 2.5% 08/15/2057 144A
08162DAR9
1000000.00000000
PA
USD
551445.70000000
0.012016372132
Long
ABS-MBS
CORP
US
N
2
2057-08-15
Fixed
0.02500000
N
N
N
N
N
N
COMM 2018-HCLV MTG TR
N/A
COMM 2018-HCLV MTG TR TSFR1M+319.601 09/15/2033 144A
20048KAL1
4265000.00000000
PA
USD
2225691.96000000
0.048499322497
Long
ABS-MBS
CORP
US
N
2
2033-09-15
Variable
0.08418010
N
N
N
N
N
N
GLADSTONE COMMERCIAL CORP
529900EVVV534W8R0T32
GLADSTONE COMMERCIAL CORP SER E 6.625% PFD 12/31/2049
376536702
157675.00000000
NS
USD
2973734.73000000
0.064799676812
Long
EP
CORP
US
N
1
N
N
N
SBA COMMUNICATIONS CORP
5299001HX8ZN8Y8QIT49
SBA COMMUNICATIONS CORP 3.875% 02/15/2027
78410GAD6
3000000.00000000
PA
USD
2763812.70000000
0.060225334803
Long
DBT
CORP
US
N
2
2027-02-15
Fixed
0.03875000
N
N
N
N
N
N
ACADIA REALTY TRUST
N/A
ACADIA RLTY TR REIT
004239109
510426.00000000
NS
USD
8018792.46000000
0.174734872816
Long
EC
CORP
US
N
1
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2021-SOAR
N/A
BX COMMERCIAL MORTGAGE TRUST 2021-SOAR J 3.85% 06/15/2023 144A
05608WAU8
17644334.41000000
PA
USD
16610831.64000000
0.361961176631
Long
ABS-MBS
CORP
US
N
2
2038-06-15
Variable
0.09086480
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2021-PAC
N/A
BX COMMERCIAL MORTGAGE TRUST 2021-PAC G TSFR1M+306.058 21 10/15/2036 144A
05609PAS7
17232000.00000000
PA
USD
16195863.96000000
0.352918752208
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.08282580
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 5.1% 05/01/2033
22822VBC4
5000000.00000000
PA
USD
4870735.20000000
0.106136591006
Long
DBT
CORP
US
N
2
2033-05-01
Fixed
0.05100000
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INVT CORP 8.125% SER A PERP PFD
90187B200
363526.00000000
NS
USD
7852197.95000000
0.171104666564
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
1550640.00000000
0.033789486950
Long
EP
CORP
US
N
1
N
N
N
BANK 2022-BNK43
N/A
BANK 2022-BNK43 4.399% 08/15/2055
06541QAZ8
10485000.00000000
PA
USD
9836274.18000000
0.214339020045
Long
ABS-MBS
CORP
US
N
2
2055-08-15
Fixed
0.04399000
N
N
N
N
N
N
PKHL COML MTG TR 2021-MF
N/A
PKHL COML MTG TR 2021-MF G TSFR1M+446.448 07/15/2038 144A
69356GAS8
5944000.00000000
PA
USD
4502900.98000000
0.098121236329
Long
ABS-MBS
CORP
US
N
3
2038-07-15
Variable
0.09686480
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
982268.40000000
0.021404288089
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
17465000.00000000
PA
USD
17913378.95000000
0.390344557257
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
3659400.00000000
0.079740783512
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
5952002.48000000
0.129698131175
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.08571640
N
N
N
N
N
N
BRIXMOR OPERATING PARTNERSHIP LP
549300CJHBL7JBUA6503
BRIXMOR OPERATING PARTNERSHIP LP 4.05% 07/01/2030
11120VAJ2
4000000.00000000
PA
USD
3638290.60000000
0.079280795510
Long
DBT
CORP
US
N
2
2030-07-01
Fixed
0.04050000
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
1858298.75000000
0.040493577724
Long
EP
CORP
US
N
1
N
N
N
NNN REIT INC
5493008JKH5SOTI0JS97
NNN REIT INC
637417106
52100.00000000
NS
USD
2223628.00000000
0.048454347423
Long
EC
CORP
US
N
1
N
N
N
AGREE REALTY CORP
N/A
AGREE REALTY CORP 4.375% PERP PFD
008492209
259800.00000000
NS
USD
4659564.96000000
0.101535049663
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
18265000.00000000
PA
USD
15613276.34000000
0.340223776725
Long
DBT
CORP
US
N
2
2031-07-01
Fixed
0.04875000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT LP
549300N4PXZ37U8QKI55
AMERICAN HOMES 4 RENT LP 3.625% 04/15/2032
02666TAE7
22000000.00000000
PA
USD
19099211.12000000
0.416184636601
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
818574.38000000
0.017837285463
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
2562650.00000000
0.055841864477
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
5745819.97000000
0.125205275818
Long
ABS-MBS
CORP
US
N
2
2046-02-15
Variable
0.05525759
N
N
N
N
N
N
KENNEDY-WILSON INC
5EA4464UK7FM5QNNKL62
KENNEDY-WILSON INC 4.75% 02/01/2030
489399AN5
22245000.00000000
PA
USD
17356216.35000000
0.378203610034
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
3357630.40000000
0.073165021271
Long
ABS-MBS
CORP
US
N
2
2049-08-15
Fixed
0.03000000
N
N
N
N
N
N
CUBESMART
N/A
CUBESMART
229663109
367800.00000000
NS
USD
15947808.00000000
0.347513446255
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
582650.00000000
0.012696334785
Long
EP
CORP
BM
N
1
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER G 7.75%/VAR PFD PERP
00123Q856
320000.00000000
NS
USD
7200000.00000000
0.156892835243
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
6015240.00000000
0.131076119204
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
6710360.24000000
0.146223256049
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
465839.00000000
NS
USD
9973612.99000000
0.217331724947
Long
EP
CORP
US
N
1
N
N
N
VENTAS INC
ORQTRC074CWLT3DKHT41
VENTAS INC REIT
92276F100
939186.00000000
NS
USD
45569304.72000000
0.992985752442
Long
EC
CORP
US
N
1
N
N
N
GLOBAL MEDICAL REIT INC
549300HFRIPQDYU3GU60
GLOBAL MEDICAL REIT INC SER A 7.5% PFD PERP
37957W203
150848.00000000
NS
USD
3736504.96000000
0.081420952371
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
272175.66000000
0.005930890414
Long
ABS-MBS
CORP
US
N
3
2046-04-15
Variable
0.03250000
N
N
N
N
N
N
EQUINIX INC
549300EVUN2BTLJ3GT74
EQUINIX INC 3.9% 04/15/2032
29444UBU9
22000000.00000000
PA
USD
19793061.86000000
0.431304110189
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
776859.00000000
NS
USD
16034369.76000000
0.349399685137
Long
EP
CORP
US
N
1
N
N
N
CUSHMAN and WAKEFIELD US BORROWER LLC
549300870CMN3WI5IF97
CUSHMAN and WAKEFIELD US BORROWER LLC 6.75% 05/15/2028 144A
23166MAA1
11165000.00000000
PA
USD
10234285.60000000
0.223011956176
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
780500.00000000
NS
USD
9225510.00000000
0.201030058398
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
5588939.37000000
0.121786742189
Long
DBT
CORP
US
N
2
2031-07-15
Fixed
0.02375000
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
198712.00000000
0.004330067927
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
22249747.46000000
0.484836939228
Long
ABS-MBS
CORP
US
N
2
2052-11-10
Fixed
0.03047900
N
N
N
N
N
N
GLADSTONE COMMERCIAL CORP
529900EVVV534W8R0T32
GLADSTONE COMMERCIAL CORP SER G 6% PFD PERP
376536884
516000.00000000
NS
USD
9107400.00000000
0.198456362179
Long
EP
CORP
US
N
1
N
N
N
VORNADO REALTY L P
549300BMOJ05INE4YK86
VORNADO REALTY LP 3.4% 06/01/2031
929043AL1
6000000.00000000
PA
USD
4448012.28000000
0.096925174695
Long
DBT
CORP
US
N
2
2031-06-01
Fixed
0.03400000
N
N
N
N
N
N
BANK 2021-BNK33
N/A
BANK 2021-BNK33 2.556% 05/15/2064
06541CBL9
14931000.00000000
PA
USD
12324888.02000000
0.268567586877
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 TSFR1M+331.544 9 04/15/2026 144A
55316VAN4
15601000.00000000
PA
USD
14911602.73000000
0.324933837546
Long
ABS-MBS
CORP
US
N
2
2038-04-15
Variable
0.08537442
N
N
N
N
N
N
REXFORD INDUSTRIAL REALTY LP
549300028US163ELJN70
REXFORD INDUSTRIAL REALTY LP 2.15% 09/01/2031
76169XAB0
3000000.00000000
PA
USD
2329887.60000000
0.050769815466
Long
DBT
CORP
US
N
2
2031-09-01
Fixed
0.02150000
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
4228269.41000000
0.092136829987
Long
EP
CORP
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE
74460D109
159500.00000000
NS
USD
44939125.00000000
0.979253713139
Long
EC
CORP
US
N
1
N
N
N
COMM 2018-HCLV MTG TR
N/A
COMM MORTGAGE TRUST 2018-HCLV G TSFR1M+520.234 069/15/2033
20048KAN7
4265000.00000000
PA
USD
1799242.28000000
0.039206697583
Long
ABS-MBS
CORP
US
N
2
2033-09-15
Variable
0.10424337
N
N
N
N
N
N
PENNYMAC CORP
EWN0I878407TKQNXZ933
PENNYMAC CORP CONV 5.5% 11/01/2024
70932AAD5
13601000.00000000
PA
USD
13016157.00000000
0.283630802180
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
1734137.89000000
0.037788029203
Long
ABS-MBS
CORP
US
N
2
2030-06-10
Variable
0.04238000
N
N
N
N
N
N
BENCHMARK 2022-B36 MTG TR
N/A
BENCHMARK 2022-B36 MTG TR 2.5% 07/15/2055 144A
08163QAN8
3828000.00000000
PA
USD
1748389.24000000
0.038098575690
Long
ABS-MBS
CORP
US
N
3
2055-07-15
Fixed
0.02500000
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
5670988.00000000
PA
USD
4700656.43000000
0.102430460389
Long
ABS-MBS
CORP
US
N
2
2046-10-15
Variable
0.04912741
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
1648005.57000000
0.035911148107
Long
ABS-MBS
CORP
US
N
3
2062-12-15
Variable
0.03294300
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP 7/VAR PFD PERP
00123Q500
653202.00000000
NS
USD
16741567.26000000
0.364809993588
Long
EP
CORP
US
N
1
N
N
N
NATIONAL STORAGE AFFILIATES TRUST
N/A
NATIONAL STORAGE AFFILIATES SER A 6% PFD PERP
637870205
101375.00000000
NS
USD
2401573.75000000
0.052331904817
Long
EP
CORP
US
N
1
N
N
N
STWD TR 2021-LIH
N/A
STWD TR 2021-LIH TSFR1M+424.7 11/15/2036 144A
78486EAU2
9177000.00000000
PA
USD
8542398.52000000
0.186144600497
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.09469000
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
195130.00000000
0.004252013741
Long
EP
CORP
US
N
1
N
N
N
HUDSON PACIFIC PROPERTIES LP
5493007NTUGLGZ8T3526
HUDSON PAC PPTYS LP 4.65% 04/01/2029
44409MAB2
6000000.00000000
PA
USD
4697334.90000000
0.102358082020
Long
DBT
CORP
US
N
2
2029-04-01
Fixed
0.04650000
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2019-XL
N/A
BX COMMERCIAL MORTGAGE TRUST 2019-XL J TSFR1M+276.448 10/15/2036 144A
056054AL3
15217549.99600000
PA
USD
14732021.89000000
0.321020650442
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.07986120
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
13321147.27000000
0.290276744983
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
35000000.00000000
PA
USD
31624660.55000000
0.689122591291
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
83975.00000000
NS
USD
1429254.50000000
0.031144415387
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER E 6.375% PERP PFD
70509V605
372994.00000000
NS
USD
7444960.24000000
0.162230683378
Long
EP
CORP
US
N
1
N
N
N
VASA TR 2021-VASA
N/A
VASA TR 2021-VASA G TSFR1M+511.448 04/15/2060 144A
92230AAN6
800000.00000000
PA
USD
345232.80000000
0.007522854557
Long
ABS-MBS
CORP
US
N
2
2039-07-15
Variable
0.10336480
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
2470594.00000000
PA
USD
1952288.08000000
0.042541668344
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
1979762.00000000
0.043140343512
Long
EC
CORP
GB
N
1
N
N
N
WILLIAMS SCOTSMAN INTL INC
549300V3TCHCBOBTGH07
WILLIAMS SCOTSMAN INTL INC 6.125% 06/15/2025 144A
71953LAA9
3240000.00000000
PA
USD
3219117.33000000
0.070146728456
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
1832952.01000000
0.039941255238
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
426732.00000000
NS
USD
8765075.28000000
0.190996876638
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
3166268.18000000
0.068995109986
Long
ABS-MBS
CORP
US
N
2
2047-03-10
Variable
0.04980234
N
N
N
N
N
N
CITIGROUP COMMERCIAL MORTGAGE TRUST 2023-SMRT
N/A
CITIGROUP COMMERCIAL MORTGAGE TRUST 2023-SMRT C 6.43808% 06/10/2028 144A
17291NAE1
9750000.00000000
PA
USD
9362482.35000000
0.204014777889
Long
ABS-MBS
CORP
US
N
2
2028-06-10
Variable
0.05852422
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE SER L 4.625% PFD PERP
74460W552
335900.00000000
NS
USD
7406595.00000000
0.161394679034
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
6000000.00000000
PA
USD
5233550.22000000
0.114042573945
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
541273.02000000
0.011794702603
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
6690974.09000000
PA
USD
5348530.50000000
0.116548071462
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
11657878.35000000
0.254032998229
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
5360885.53000000
0.116817295863
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
9083399.70000000
0.197933379525
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
9986229.13000000
PA
USD
8294287.29000000
0.180738090173
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
11553390.75000000
0.251756143255
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
33700.00000000
NS
USD
735334.00000000
0.016023421682
Long
EP
CORP
US
N
1
N
N
N
BANK 2017-BNK8
N/A
BANK 2017-BNK8 E 2.8% 11/15/2050 144A
06650AAW7
11374393.00000000
PA
USD
4418858.41000000
0.096289892289
Long
ABS-MBS
CORP
US
N
3
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
2002000.00000000
PA
USD
1331330.00000000
0.029010574770
Long
ABS-MBS
CORP
US
N
2
2045-05-15
Variable
0.05301133
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
6769716.18000000
0.147516661843
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
4869600.00000000
0.106111854236
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
447536.00000000
NS
USD
9098406.88000000
0.198260396055
Long
EP
CORP
US
N
1
N
N
N
BENCHMARK 2022-B35 MTG TR
N/A
BENCHMARK 2022-B35 A5 MTG TR VAR 05/15/2054
08163RBQ8
27302000.00000000
PA
USD
25116231.91000000
0.547299560415
Long
ABS-MBS
CORP
US
N
2
2055-05-15
Variable
0.04444771
N
N
N
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
14000000.00000000
PA
USD
12792920.00000000
0.278766318033
Long
DBT
CORP
US
N
2
2029-12-01
Fixed
0.04625000
N
N
N
N
N
N
BBCMS MTG TR 2022-C17
N/A
BBCMS MTG TR 2022-C17 C 5.45% 09/15/2055
054976AL9
2000000.00000000
PA
USD
1590969.60000000
0.034668296018
Long
ABS-MBS
CORP
US
N
2
2055-09-15
Fixed
0.05450000
N
N
N
N
N
N
ENERGY TRANSFER LP
MTLVN9N7JE8MIBIJ1H73
ENERGY TRANSFER LP 7.6/VAR PFD PERP
29273V605
525651.00000000
NS
USD
12999349.23000000
0.283264549585
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
3564359.24000000
0.077669781526
Long
ABS-MBS
CORP
US
N
3
2049-07-15
Variable
0.04944682
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
2767081.65000000
PA
USD
2347230.41000000
0.051147726943
Long
ABS-CBDO
CORP
US
N
2
2039-10-19
Fixed
0.03866000
N
N
N
N
N
N
BOSTON PPTY LTD PARTNERSHIP
BVHHEFJI6SHNOKQT2572
BOSTON PPTYS LTD PARTNERSHIP 6.75% 12/01/2027
10112RBG8
37000.00000000
PA
USD
37838.89000000
0.000824534824
Long
DBT
CORP
US
N
2
2027-12-01
Fixed
0.06750000
N
N
N
N
N
N
DCP MIDSTREAM LP
52990024YYS3MLGW0E91
DCP MIDSTREAM LP 7.95/VAR PERP PFD
23311P308
328262.00000000
NS
USD
8232810.96000000
0.179398479657
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
4636624.15000000
0.101035154007
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
2235770.40000000
0.048718938473
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
981582.50000000
0.021389341868
Long
EP
CORP
US
N
1
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR RLTY TR I 7.25% PFD PERP
150602407
126972.00000000
NS
USD
2134399.32000000
0.046509994563
Long
EP
CORP
US
N
1
N
N
N
KKR REAL ESTATE FINANCE TRUST INC
549300K23AYZDZ2REL62
KKR REAL ESTATE FINANCE TRUST INC 6.5% PERP PFD
48251K209
188372.00000000
NS
USD
3808881.84000000
0.082998093192
Long
EP
CORP
US
N
1
N
N
N
BBCMS MTG TR 2020-C6
N/A
BBCMS MTG TR 2020-C6 3.045% 02/15/2053
05492TAJ9
1129000.00000000
PA
USD
802334.58000000
0.017483409315
Long
ABS-MBS
CORP
US
N
2
2053-02-15
Fixed
0.03045000
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
23546431.20000000
0.513092548726
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
5394000.00000000
0.117538882403
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
7567605.00000000
0.164903195062
Long
EP
CORP
US
N
1
N
N
N
BENCHMARK 2023-B39 C MTG TR
N/A
BENCHMARK 2023-B39 C MTG TR 6.19203% 07/15/2056 144A
081925AG4
5000000.00000000
PA
USD
4944430.00000000
0.107742450189
Long
ABS-MBS
CORP
US
N
2
2056-07-15
Fixed
0.06192030
N
N
N
N
N
N
BOSTON PPTY LTD PARTNERSHIP
BVHHEFJI6SHNOKQT2572
BOSTON PPTYS LTD PARTNERSHIP 3.25% 01/30/2031
10112RBD5
8000000.00000000
PA
USD
6594143.20000000
0.143690808701
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
4668778.51000000
PA
USD
4010196.41000000
0.087384872867
Long
ABS-MBS
CORP
US
N
3
2045-06-15
Variable
0.04689587
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
1769894.44000000
0.038567188440
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
2624344.50000000
0.057186229063
Long
ABS-CBDO
CORP
US
N
2
2038-07-17
Fixed
0.04133000
N
N
N
N
N
N
BENCHMARK 2022-B36 MTG TR
N/A
BENCHMARK 2022-B36 MTG TR 5.2895% 07/15/2055 144A
08163QBP2
2000000.00000000
PA
USD
1435470.40000000
0.031279864022
Long
ABS-MBS
CORP
US
N
2
2055-07-15
Variable
0.05118934
N
N
N
N
N
N
EG GLOBAL FINANCE PLC
549300TL8Q5207VYET27
EG GLOBAL FINANCE PLC 8.5% 10/30/2025 144A
28228PAB7
1557000.00000000
PA
USD
1541756.97000000
0.033595919761
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
7925000.00000000
PA
USD
7604241.09000000
0.165701520067
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
19615000.00000000
PA
USD
18141038.67000000
0.395305415443
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.08572000
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
4075181.78000000
0.088800947721
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.08520640
N
N
N
N
N
N
MHP 2022-MHIL F
N/A
MHP 2022-MHIL F TSFR1M+395.75 01/15/2027 144A
55293DAN1
14015202.72700000
PA
USD
13299167.42000000
0.289797789291
Long
ABS-MBS
CORP
US
N
2
2027-01-15
Variable
0.09179140
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 5.65% 03/15/2033
03027XBZ2
15000000.00000000
PA
USD
15142849.65000000
0.329972863229
Long
DBT
CORP
US
N
2
2033-03-15
Fixed
0.05650000
N
N
N
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
2606976.01000000
0.056807758002
Long
ABS-MBS
CORP
US
N
2
2035-07-10
Fixed
0.04996000
N
N
N
N
N
N
WEYERHAEUSER CO
08IRJODWFYBI7QWRGS31
WEYERHAEUSER CO
962166104
147500.00000000
NS
USD
5023850.00000000
0.109473065324
Long
EC
CORP
US
N
1
N
N
N
PENNYMAC MORTGAGE INVESTMENT TRUST
549300BSSOQO1ZWDUJ97
PENNYMAC MTG INVT TR 8.125/VAR PREF PERP
70931T301
388754.00000000
NS
USD
9326208.46000000
0.203224345466
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
4121314.80000000
0.089806217208
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
3734838.15000000
0.081384631462
Long
ABS-CBDO
CORP
US
N
2
2036-01-17
Fixed
0.05104000
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
799727.65000000
0.017426602559
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05152001
N
N
N
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL 6.5%/VAR PFD PERP
55272X508
1074351.00000000
NS
USD
21110997.15000000
0.460022805233
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
7945317.00000000
0.173133793199
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
27698.73000000
0.000603573928
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
11071292.50000000
0.241250898629
Long
DBT
CORP
US
N
2
2027-06-01
Fixed
0.05250000
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER F 6.125%/VAR PFD PERP
00123Q872
930100.00000000
NS
USD
19718120.00000000
0.429671076731
Long
EP
CORP
US
N
1
N
N
N
VERITAS MULTIFAMILY PORTFOLIO POOL A
N/A
VERITAS POOL A MEZZ 1ML+850 11/15/2023
N/A
29336049.37000000
PA
USD
16428187.65000000
0.357981241433
Long
LON
CORP
US
N
3
2023-11-15
Variable
0.00000000
Y
Y
N
N
N
N
WELLTOWER OP LLC
T6IZ0MBEG5ACZDTR7D06
WELLTOWER OP LLC 4.125% 03/15/2029
95040QAH7
3000000.00000000
PA
USD
2798486.25000000
0.060980894743
Long
DBT
CORP
US
N
2
2029-03-15
Fixed
0.04125000
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
1112100.00000000
0.024233405843
Long
ABS-MBS
CORP
US
N
3
2045-06-15
Fixed
0.04000000
N
N
N
N
N
N
KIMCO REALTY CORP
N/A
KIMCO REALTY CORP SER M 5.25% PFD PERP
49446R711
58100.00000000
NS
USD
1388009.00000000
0.030245648243
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
0.000000039659
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
783600.00000000
NS
USD
24667728.00000000
0.537526359018
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
98400.00000000
NS
USD
2282880.00000000
0.049745488294
Long
EP
CORP
US
N
1
N
N
N
TRICON RESIDENTIAL 2023-SFR1 TRUST
N/A
TRICON RESIDENTIAL 2023-SFR1 TRUST 8.25% 07/17/2040 144A
89616WAE8
2000000.00000000
PA
USD
1992905.60000000
0.043426751382
Long
ABS-CBDO
CORP
US
N
2
2040-07-17
Fixed
0.07977000
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2021-VINO
N/A
BX COMMERCIAL MORTGAGE TRUST 2021 VINO G TSFR1M+406.681 82 05/15/2038 144A
05608KAN0
12077382.04000000
PA
USD
11431980.03000000
0.249110522132
Long
ABS-MBS
CORP
US
N
2
2038-05-15
Variable
0.09288810
N
N
N
N
N
N
ANNALY CAPITAL MANAGEMENT INC
2DTL0G3FPRYUT58TI025
ANNALY CAPITAL MANAGEMENT INC 6.5%/VAR PFD PERP
035710862
1069599.00000000
NS
USD
26846934.90000000
0.585012740840
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2013-GCJ16
N/A
GSMS 2013-GC16 D CSTR 11/46
36248GAP5
3708000.00000000
PA
USD
3475547.70000000
0.075734518427
Long
ABS-MBS
CORP
US
N
2
2046-11-10
Variable
0.05325834
N
N
N
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER H 5.7% PERP PFD
70509V886
717200.00000000
NS
USD
12730300.00000000
0.277401786180
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
155705.58000000
0.003392929154
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 TSFR1M+386.448 06/15/2035 144A
63874MBE1
651000.00000000
PA
USD
111426.01000000
0.002428047587
Long
ABS-MBS
CORP
US
N
2
2035-06-15
Variable
0.09086120
N
N
N
N
N
N
EQUITY RESIDENTIAL
5493008RACSH5EP3PI59
EQUITY RESIDENTIAL REIT
29476L107
103700.00000000
NS
USD
6837978.00000000
0.149004132743
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
8699013.40000000
0.189557343909
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
1937518.44000000
0.042219827970
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
15494616.28000000
0.337638094330
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
19193000.00000000
PA
USD
18313407.84000000
0.399061455414
Long
DBT
CORP
US
N
2
2029-01-15
Fixed
0.05300000
N
N
N
N
N
N
VORNADO REALTY TRUST
N/A
VORNADO REALTY TRUST SER M 5.25% PFD PERP
929042828
2000.00000000
NS
USD
29840.00000000
0.000650233639
Long
EP
CORP
US
N
1
N
N
N
BANK 2021-BNK38
N/A
BANK 2021-BNK38 3.21677%/VAR 12/15/2064
06540EBC6
3505000.00000000
PA
USD
2250382.45000000
0.049037344855
Long
ABS-MBS
CORP
US
N
2
2064-12-15
Variable
0.03217233
N
N
N
N
N
N
BMO 2023-C5 MTG TR
N/A
BMO 2023-C5 B MTG TR CSTR 06/15/2056
055988AJ8
4750000.00000000
PA
USD
4861064.98000000
0.105925870418
Long
ABS-MBS
CORP
US
N
2
2056-06-15
Variable
0.06476673
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
0.05000000
0.000000001089
Long
ABS-CBDO
CORP
KY
N
3
2035-12-28
Variable
0.00000000
N
N
N
N
N
N
HYATT HOTELS CORP
T27JQIMTYSH41TCD5186
HYATT HOTELS CORP 5.75% 01/30/2027
448579AQ5
5000000.00000000
PA
USD
5021172.60000000
0.109414722980
Long
DBT
CORP
US
N
2
2027-01-30
Fixed
0.05750000
N
N
N
N
N
N
GS MTG SECS TR 2021
N/A
GS MTG SECS TR 2021-RENT G TSFR1M+581.448 11/21/2023 144A
36260XAW6
6938114.23700000
PA
USD
5204043.59000000
0.113399604661
Long
ABS-MBS
CORP
US
N
2
2035-11-21
Variable
0.11078080
N
N
N
N
N
N
HERSHA HOSPITALITY TR
549300DNC58BIN1VO064
HERSHA HOSPITALITY TR 6.5% PERP PFD
427825609
197750.00000000
NS
USD
3844260.00000000
0.083769007057
Long
EP
CORP
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4% PERP PFD
74460W461
47800.00000000
NS
USD
904376.00000000
0.019706960384
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
18046649.33000000
0.393248608336
Long
ABS-MBS
CORP
US
N
2
2041-12-09
Variable
0.03943990
N
N
N
N
N
N
OPG TR 2021-PORT
N/A
OPG TR 2021-PORT G TSFR1M+251.248 10/15/2036 144A
67118AAS4
4640257.48600000
PA
USD
4361240.20000000
0.095034352799
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.07734480
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
972843.60000000
0.021198915368
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
656623.97000000
0.014308277269
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
2874476.49000000
PA
USD
2476548.34000000
0.053965651483
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05359150
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2019-XL
N/A
BX COMMERCIAL MORTGAGE TRUST 2019-XL G TSFR1M+241.448 10/15/2036 144A
056054AK5
13391750.00800000
PA
USD
13155871.74000000
0.286675280192
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.07636120
N
N
N
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 4.125% 02/01/2029 144A
44267DAE7
14960000.00000000
PA
USD
12641349.60000000
0.275463497228
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
1599843.00000000
NS
USD
40795996.50000000
0.888972160758
Long
EP
CORP
US
N
1
N
N
N
BANK AMER MERRILL LYNCH COML MTG TR 2016-UBS10
N/A
BACM 2016-UBS10 CSTR 06/49
06054MAK9
3030000.00000000
PA
USD
2618587.81000000
0.057060786922
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.04825501
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4.75% SER K PFD PERP
74460W578
921000.00000000
NS
USD
20317260.00000000
0.442726739691
Long
EP
CORP
US
N
1
N
N
N
DIGITAL REALTY TRUST INC
549300HKCZ31D08NEI41
DIGITAL RLTY TR INC 5.25% PFD PERP
253868855
32900.00000000
NS
USD
726432.00000000
0.015829441123
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
3928235.00000000
0.085598878701
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
0.410478230634
Long
LON
CORP
US
N
3
2027-01-21
Variable
0.09677480
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
906000.00000000
PA
USD
874333.49000000
0.019052313915
Long
ABS-MBS
CORP
US
N
2
2023-11-15
Variable
0.09188500
N
N
N
N
N
N
SITE CENTERS CORP
W2AVA6SODOQ1LCYJQR54
SITE CENTERS CORP
82981J109
1379438.00000000
NS
USD
19381103.90000000
0.422327269585
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
106341.95000000
0.002317262505
Long
EP
CORP
US
N
1
N
N
N
RLJ LODGING TRUST LP
549300RX5I8Z6I6LDZ74
RLJ LODGING TRUST LP 4% 09/15/2029 144A
74965LAB7
16550000.00000000
PA
USD
13872210.00000000
0.302284771943
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
15960000.00000000
PA
USD
13835404.80000000
0.301482761918
Long
DBT
CORP
US
N
2
2029-06-15
Fixed
0.04500000
N
N
N
N
N
N
MSWF COML MTG TR 2023-1
N/A
MSWF COML MTG TR 2023-1 5.752% 05/15/2056
55376CAJ2
4000000.00000000
PA
USD
4111886.40000000
0.089600766040
Long
ABS-MBS
CORP
US
N
2
2056-05-15
Fixed
0.05752000
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
1002862.06000000
0.021853037771
Long
ABS-MBS
CORP
US
N
3
2051-06-15
Variable
0.03269068
N
N
N
N
N
N
REXFORD INDL RLTY INC
549300MSLO0DF0EMX355
REXFORD INDL RLTY INC SER C 5.625% PERP PFD
76169C407
78225.00000000
NS
USD
1732683.75000000
0.037756342516
Long
EP
CORP
US
N
1
N
N
N
STWD TR 2021-LIH
N/A
STWD TR 2021-LIH TSFR1M+295 11/15/2036 144A
78486EAQ1
4985000.00000000
PA
USD
4724301.45000000
0.102945701254
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.08172000
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
27767593.00400000
PA
USD
23328565.62000000
0.508345111428
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
111048.00000000
NS
USD
1571329.20000000
0.034240318512
Long
EP
CORP
US
N
1
N
N
N
CHERRY HILL MORTGAGE INVESTMENT CORP
N/A
CHERRY HILL MTG INVT CORP 8.25%/VAR PFD PERP
164651309
38607.00000000
NS
USD
812677.35000000
0.017708785219
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
471366.00000000
0.010271381691
Long
EP
CORP
US
N
1
N
N
N
SABRA HEALTH CARE LP
549300OVKLRFSIQG0H81
SABRA HEALTH CARE LP 5.125% 08/15/2026
14162VAB2
20264000.00000000
PA
USD
19521674.97000000
0.425390407603
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
3145917.23000000
0.068551649118
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
5819322.36000000
0.126806942257
Long
ABS-MBS
CORP
US
N
2
2046-11-15
Variable
0.04884348
N
N
N
N
N
N
PRIMA CAP LTD 2021-9A
N/A
PRIMA CAP LTD 2021-9A C TSFR1M+246.448 12/15/2037 144A
74167FAA8
5000000.00000000
PA
USD
4725141.50000000
0.102964006508
Long
ABS-MBS
CORP
US
N
2
2037-12-15
Variable
0.07719050
N
N
N
N
N
N
SABRA HEALTH CARE REIT INC
549300E3BC7GU7TAZ621
SABRA HEALTHCARE REIT INC
78573L106
604175.00000000
NS
USD
7848233.25000000
0.171018273089
Long
EC
CORP
US
N
1
N
N
N
KENNEDY-WILSON INC
5EA4464UK7FM5QNNKL62
KENNEDY-WILSON INC 4.75% 03/01/2029
489399AL9
17075000.00000000
PA
USD
13916125.00000000
0.303241709284
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
1468136.00000000
0.031991669383
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 TSFR1M+260 07/15/2035 144A
36255WAN5
3808000.00000000
PA
USD
430290.29000000
0.009376314385
Long
ABS-MBS
CORP
US
N
2
2035-07-15
Variable
0.08119000
N
N
N
N
N
N
NECESSITY RETAIL REIT INC/THE
549300GN4H0K3IUS8983
THE NECESSITY RETAIL REIT INC SER A 7.5% PFD PERP
02607T406
853587.00000000
NS
USD
17592428.07000000
0.383350822044
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
11439000.00000000
PA
USD
10067319.43000000
0.219373651204
Long
DBT
CORP
US
N
2
2032-04-15
Fixed
0.04200000
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC
22822V101
606610.00000000
NS
USD
65689796.90000000
1.431424789194
Long
EC
CORP
US
N
1
N
N
N
HILTON USA TR 2016-HHV
N/A
HILT 2016-HHV F CSTR 11/38 144A
43300LAQ3
20270000.00000000
PA
USD
17882264.95000000
0.389666562302
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
3797813.00000000
0.082756895735
Long
EC
CORP
US
N
1
N
N
N
VORNADO REALTY TRUST
N/A
VORNADO REALTY TRUST SER O 4.45% PERP PFD
929042794
283000.00000000
NS
USD
3845970.00000000
0.083806269105
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
4049840.36000000
0.088248741161
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 TSFR1M+340.948 3 11/15/2026 144A
05609QAN6
15581000.00000000
PA
USD
14868144.32000000
0.323986849607
Long
ABS-MBS
CORP
US
N
2
2038-11-15
Variable
0.08631480
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
10908465.10000000
0.237702780235
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
27505000.00000000
PA
USD
19133446.18000000
0.416930641549
Long
DBT
CORP
US
N
2
2029-02-15
Fixed
0.06500000
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
3890675.78000000
0.084780438074
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
2974582.00410000
PA
USD
2939341.54000000
0.064050226105
Long
DBT
CORP
US
N
2
2026-08-01
Fixed
0.08528000
N
N
N
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 3.375% 02/01/2031
681936BM1
2000000.00000000
PA
USD
1606753.80000000
0.035012244336
Long
DBT
CORP
US
N
2
2031-02-01
Fixed
0.03375000
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2020-VIVA
N/A
BX COMMERCIAL MORTGAGE TRUST 2020-VIVA E 3.54875% 03/09/2044 144A
12433XAJ8
20898990.00000000
PA
USD
15982774.29000000
0.348275385196
Long
ABS-MBS
CORP
US
N
2
2044-03-11
Variable
0.03548750
N
N
N
N
N
N
BANK 2022-BNK44
N/A
BANK 2022-BNK44 5.746245% 11/15/2055
06540KAJ8
15900000.00000000
PA
USD
16371363.45000000
0.356743003954
Long
ABS-MBS
CORP
US
N
2
2055-11-15
Variable
0.05745654
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 2.7% 04/15/2031
03027XBM1
2000000.00000000
PA
USD
1653245.44000000
0.036025328393
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
8000000.00000000
PA
USD
7189241.28000000
0.156658395509
Long
DBT
CORP
US
N
2
2028-04-15
Fixed
0.04950000
N
N
N
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP
64828T201
385699.00000000
NS
USD
3887845.92000000
0.084718773524
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
5001273.83000000
0.108981115419
Long
ABS-MBS
CORP
US
N
2
2034-06-15
Variable
0.09552998
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
1832848.24000000
0.039938994020
Long
ABS-MBS
CORP
US
N
3
2062-12-15
Variable
0.03294300
N
N
N
N
N
N
INVITATION HOMES INC
N/A
INVITATION HOMES INC
46187W107
570000.00000000
NS
USD
20235000.00000000
0.440934239048
Long
EC
CORP
US
N
1
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TRUST
74965L101
607000.00000000
NS
USD
6252100.00000000
0.136237457670
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
10485000.00000000
0.228475191323
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
4182990.00000000
PA
USD
3928205.33000000
0.085598232172
Long
ABS-MBS
CORP
US
N
2
2027-01-15
Variable
0.08480840
N
N
N
N
N
N
DOUGLAS EMMETT INC
N/A
DOUGLAS EMMETT INC REIT
25960P109
103300.00000000
NS
USD
1518510.00000000
0.033089352672
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 TSFR1M+231.448 10/15/2036 144A
36257MAQ8
7437000.00000000
PA
USD
6594258.50000000
0.143693321165
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.07393000
N
N
N
N
N
N
ELME COMMUNITIES
549300DI34BGS8LVKW95
ELME COMMUNITIES
939653101
755647.00000000
NS
USD
12279263.75000000
0.267573403394
Long
EC
CORP
US
N
1
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER C 7.75/VAR PERP PFD
16934Q505
1782886.00000000
NS
USD
35853837.46000000
0.781279196313
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
885481.20000000
0.019295230003
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 TSFR1M+346.399 02 10/15/2026 144A
05609RAS3
2574000.00000000
PA
USD
2380185.78000000
0.051865846587
Long
ABS-MBS
CORP
US
N
2
2026-10-15
Variable
0.08685993
N
N
N
N
N
N
MID-AMERICA APT CMNTYS INC
549300FQZKFR5YNSHZ21
MID AMERICA APT CMNTY INC
59522J103
290006.00000000
NS
USD
43402297.96000000
0.945765219864
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
1692405.19000000
0.036878645644
Long
ABS-MBS
CORP
US
N
3
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 TSFR1M+372.938 49 11/15/2036 144A
26863LAS3
15448000.00000000
PA
USD
14360204.36000000
0.312918496765
Long
ABS-MBS
CORP
US
N
2
2038-11-15
Variable
0.08951380
N
N
N
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER 1 4% PFD PERP
29250N717
498275.00000000
NS
USD
10483706.00000000
0.228446994194
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
431382.78000000
0.009400120476
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
335723.00000000
NS
USD
5589787.95000000
0.121805233317
Long
EC
CORP
US
N
1
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER E 6.5%/VAR PFD PERP
00123Q807
1399834.00000000
NS
USD
32434153.78000000
0.706761992397
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TRUST 6.375% PERP PFD
70509V803
666800.00000000
NS
USD
13042608.00000000
0.284207187234
Long
EP
CORP
US
N
1
N
N
N
ANNALY CAPITAL MANAGEMENT INC
2DTL0G3FPRYUT58TI025
ANNALY CAPITAL MANAGEMENT INC SER I 6.75/VAR PFD PERP
035710847
192992.00000000
NS
USD
4477414.40000000
0.097565866635
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
1615474.60000000
0.035202276424
Long
ABS-MBS
CORP
US
N
2
2045-11-10
Variable
0.04614017
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
1244633.00000000
0.027121388917
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
501192659.01600000
NS
USD
501292897.55000000
10.92350888666
Long
STIV
RF
US
N
1
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
4400000.00000000
0.095878954870
Long
DBT
CORP
US
N
2
2027-05-15
Fixed
0.05250000
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 5.1% 08/01/2033
74460WAG2
10000000.00000000
PA
USD
10008354.40000000
0.218088763602
Long
DBT
CORP
US
N
2
2033-08-01
Fixed
0.05100000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT
02665T306
633100.00000000
NS
USD
23728588.00000000
0.517061867727
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
7680000.00000000
0.167352357592
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
1410008.40000000
0.030725029943
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
313946.00000000
NS
USD
14899877.16000000
0.324678329501
Long
EC
CORP
US
N
1
N
N
N
EPR PROPERTIES
549300YSSXFHMPOWZ492
EPR PPTYS 3.6% 11/15/2031
26884UAG4
2000000.00000000
PA
USD
1562101.36000000
0.034039237681
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
4797292.50000000
0.104536225252
Long
ABS-MBS
CORP
US
N
2
2046-04-15
Variable
0.04168176
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
7027280.00000000
0.153129150451
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
4310394.00000000
0.093926379954
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
7120305.60000000
0.155156240747
Long
ABS-MBS
CORP
US
N
2
2045-08-15
Variable
0.04873755
N
N
N
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER B 8%/VAR PREF PERP
16934Q406
1280720.00000000
NS
USD
27932503.20000000
0.608668003123
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
20682531.88000000
0.450686259258
Long
EP
CORP
US
N
2
N
N
N
SPIRIT REALTY CAPITAL INC
549300LTU6LVPZSHMJ25
SPIRIT RLTY CAP INC
84860W300
583900.00000000
NS
USD
23548687.00000000
0.513141704123
Long
EC
CORP
US
N
1
N
N
N
BBCMS MTG TR 2020-C7
N/A
BBCMS MTG TR 2020-C7 CSTR 04/15/2053
05492VAL9
2067000.00000000
PA
USD
1313590.90000000
0.028624027868
Long
ABS-MBS
CORP
US
N
2
2053-04-15
Variable
0.03602796
N
N
N
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6% SER E PFD PERP
804395879
76841.00000000
NS
USD
1749677.25000000
0.038126642293
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
1858948.38000000
0.040507733598
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
2370000.00000000
0.051643891600
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
228338.00000000
NS
USD
3310901.00000000
0.072146756263
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
224550.00000000
NS
USD
5172509.25000000
0.112712450215
Long
EP
CORP
US
N
1
N
N
N
SREIT TR 2021-MFP2
N/A
SREIT TR 2021-MFP2 TSFR1M+402.998 55 11/15/2036 144A
85236WCU8
10872000.00000000
PA
USD
10360310.41000000
0.225758121420
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.09251980
N
N
N
N
N
N
BENCHMARK 2022-B32 MTG TR
N/A
BENCHMARK 2022-B32 MTG TR 3.0019% 01/15/2055
08163NBJ3
26618000.00000000
PA
USD
21632312.85000000
0.471382624431
Long
ABS-MBS
CORP
US
N
2
2055-01-15
Fixed
0.03001900
N
N
N
N
N
N
BX 2021-VOLT
N/A
BX 2021-VOLT G TSFR1M+296.448 09/15/2023 144A
05609VAS4
5000000.00000000
PA
USD
4611644.50000000
0.100490830658
Long
ABS-MBS
CORP
US
N
2
2036-09-15
Variable
0.08186120
N
N
N
N
N
N
CITIGROUP COML MTG TR 2019-C7
N/A
CITIGROUP COMMERCIAL MORTGAGE TRUST 2019-C7 3.102% 12/15/2072
17328CAD4
14820000.00000000
PA
USD
12876527.43000000
0.280588180080
Long
ABS-MBS
CORP
US
N
2
2072-12-15
Fixed
0.03102000
N
N
N
N
N
N
PKHL COML MTG TR 2021-MF
N/A
PKHL COMML MTG 2021-MF E TSFR1M+271.448 07/15/2038 144A
69356GAN9
500000.00000000
PA
USD
398978.25000000
0.008694004005
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.07794000
N
N
N
N
N
N
KNDR 2021-KIND F
N/A
KNDR 2021-KIND F TSFR1M+406.448 08/15/2026 144A
482606AS9
7103659.41200000
PA
USD
6484937.78000000
0.141311149261
Long
ABS-MBS
CORP
US
N
2
2038-08-15
Variable
0.09286480
N
N
N
N
N
N
RETAIL VALUE INC
549300VO5RB7323N1Z31
RETAIL VALUE INC (ESCROW LINE)
76133Q102
274131.00000000
NS
USD
27687.23000000
0.000603323335
Long
EC
CORP
US
N
3
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP
64828T300
505904.00000000
NS
USD
11443548.48000000
0.249362606426
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
9667994.39000000
0.210672090411
Long
ABS-MBS
CORP
US
N
2
2053-07-15
Variable
0.04388490
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2019-IMC
N/A
BX COMMERCIAL MORTGAGE TRUST 2019-IMC G TSFR1M+371.448 04/15/2034 144A
05608BAS9
5181000.00000000
PA
USD
5029733.45000000
0.109601269651
Long
ABS-MBS
CORP
US
N
2
2034-04-15
Variable
0.08936480
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
6568938.75000000
0.143141586809
Long
EP
CORP
US
N
1
N
N
N
DIGITAL REALTY TRUST LP
CD4SPTZ3YBTHY0C1AH38
DIGITAL REALTY TRUST LP 3.6% 07/01/2029
25389JAU0
5000000.00000000
PA
USD
4518257.45000000
0.098455864123
Long
DBT
CORP
US
N
2
2029-07-01
Fixed
0.03600000
N
N
N
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TR SER A PC 1.95% PERP
74965L200
31585.00000000
NS
USD
767515.50000000
0.016724678178
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
5393619.00000000
0.117530580157
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
0.23000000
0.000000005011
Long
ABS-CBDO
CORP
KY
N
3
2050-03-20
Variable
0.03346380
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4.7% SER J PFD PERP
74460W594
1089700.00000000
NS
USD
24322104.00000000
0.529994979950
Long
EP
CORP
US
N
1
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
1918767.60000000
0.041811234574
Long
ABS-MBS
CORP
US
N
2
2055-06-15
Fixed
0.02500000
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
4381920.00000000
0.095484979529
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
MIRA TR 2023-MILE
N/A
MIRA TR 2023-MILE 7.2026% 06/10/2038 144A
55318EAE0
4200000.00000000
PA
USD
4135178.88000000
0.090108324822
Long
ABS-MBS
CORP
US
N
2
2038-06-10
Fixed
0.07202600
N
N
N
N
N
N
WP GLIMCHER MALL TR 15-WPG
N/A
JPMDB 2015-WPG PR2 CSTR 06/35
92939VAN4
2541000.00000000
PA
USD
1925710.06000000
0.041962515440
Long
ABS-MBS
CORP
US
N
2
2035-06-05
Variable
0.03516000
N
N
N
N
N
N
DIGITAL REALTY TRUST LP
CD4SPTZ3YBTHY0C1AH38
DIGITAL REALTY TRUST LP 5.55% 01/15/2028
25389JAV8
5000000.00000000
PA
USD
4983021.75000000
0.108583390338
Long
DBT
CORP
US
N
2
2028-01-15
Fixed
0.05550000
N
N
N
N
N
N
AGELLAN PORTFOLIO
N/A
AGELLAN PORTFOLIO 9% 08/07/2025
N/A
6611000.00000000
PA
USD
6611000.00000000
0.144058129693
Long
LON
CORP
US
N
3
2025-08-07
Fixed
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
14943642.48000000
0.325632005215
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
3553224.72000000
0.077427152857
Long
ABS-MBS
CORP
US
N
2
2049-11-15
Fixed
0.03059000
N
N
N
N
N
N
CITIGROUP COML MTG TR 2023-PRM3
N/A
CITIGROUP COML MTG TR 2023-PRM3 C 6.35973% 07/10/2028 144A
17331LAE7
5500000.00000000
PA
USD
5317620.55000000
0.115874522894
Long
ABS-MBS
CORP
US
N
2
2028-07-10
Fixed
0.06359730
N
N
N
N
N
N
BANK 2021-BN35
N/A
BANK 2021-BN35 2.285% 06/15/2064
06540CBF3
7366000.00000000
PA
USD
5931912.72000000
0.129260361813
Long
ABS-MBS
CORP
US
N
2
2064-06-15
Fixed
0.02285000
N
N
N
N
N
N
ARBOR REALTY TRUST INC
549300ASFUWYQO0RW077
ARBOR REALTY TRUST INC SER D 6.375% PERP PFD
038923876
126100.00000000
NS
USD
2402205.00000000
0.052345660178
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
4911743.20000000
0.107030182866
Long
ABS-MBS
CORP
US
N
2
2055-06-15
Variable
0.04721962
N
N
N
N
N
N
AMERICAN HOMES 4 RENT LP
549300N4PXZ37U8QKI55
AMERICAN HOMES 4 RENT LP 4.9% 02/15/2029
02666TAB3
13000000.00000000
PA
USD
12621823.24000000
0.275038004731
Long
DBT
CORP
US
N
2
2029-02-15
Fixed
0.04900000
N
N
N
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL INC
55272X607
1231885.00000000
NS
USD
13871025.10000000
0.302258952176
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
597708.00000000
NS
USD
13932573.48000000
0.303600132710
Long
EP
CORP
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4.875% SER I PFD PERP
74460W628
75000.00000000
NS
USD
1748250.00000000
0.038095541557
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
8713168.95000000
0.189865802849
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
3793022.35000000
0.082652504254
Long
ABS-MBS
CORP
US
N
2
2046-01-10
Fixed
0.03500000
N
N
N
N
N
N
FEDERAL NAT MTG ASN GTD REM PA
N/A
FNW 2002-W1 3B3 CSTR 2/42
31392CMZ4
23201.78960000
PA
USD
8741.46000000
0.000190482283
Long
ABS-CBDO
USGSE
US
N
3
2042-02-25
Variable
0.03605000
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 4.05% 03/15/2032
03027XBW9
27000000.00000000
PA
USD
24396397.83000000
0.531613892399
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
6184924.25000000
0.134773652964
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05152001
N
N
N
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP SER B 7.125%/VAR PFD PERP
64828T409
1073942.00000000
NS
USD
24249610.36000000
0.528415294850
Long
EP
CORP
US
N
1
N
N
N
ELLINGTON FINANCIAL INC
60GS1D1R1YY5G1W7IT74
ELLINGTON FINANCIAL INC 6.75/VAR PFD PERP
28852N208
212370.00000000
NS
USD
4710366.60000000
0.102642051515
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
7976619.00000000
0.173815884800
Long
EP
CORP
US
N
1
N
N
N
CITIGROUP COML MTG TR 2023-SMRT
N/A
CITIGROUP COML MTG TR 2023-SMRT 6.09935% 06/10/2028 144A
17291NAC5
5000000.00000000
PA
USD
4886488.00000000
0.106479855097
Long
ABS-MBS
CORP
US
N
2
2028-06-10
Variable
0.05852422
N
N
N
N
N
N
BBCMS MTG TR 2022-C17
N/A
BBCMS MTG TR 2022-C17 D 2.5% 09/15/2055 144A
054976AR6
2000000.00000000
PA
USD
963282.00000000
0.020990561683
Long
ABS-MBS
CORP
US
N
3
2055-09-15
Fixed
0.02500000
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
1267196.19000000
PA
USD
1186888.52000000
0.025863097919
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.04944682
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 2.25% 01/15/2031
22822VAT8
5000000.00000000
PA
USD
4065638.65000000
0.088592996510
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
1739070.00000000
0.037895503192
Long
EP
CORP
US
N
1
N
N
N
NEW HOME CO INC/THE
549300PLCE8TB3TVRQ85
NEW HOME CO INC/THE STEP 10/15/2027 144A
645370AE7
4680000.00000000
PA
USD
4463550.00000000
0.097263752048
Long
DBT
CORP
US
N
3
2027-10-15
Variable
0.08250000
N
N
N
N
N
N
MPT OPER PARTNERSHIP LP / MPT FIN CORP
N/A
MPT OPER PARTNERSHIP LP/CORP 3.5% 03/15/2031
55342UAM6
6000000.00000000
PA
USD
4321682.40000000
0.094172361771
Long
DBT
CORP
US
N
2
2031-03-15
Fixed
0.03500000
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
758847.34000000
0.016535793151
Long
ABS-MBS
CORP
US
N
3
2044-08-10
Variable
0.05152001
N
N
N
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 4.375% 02/01/2031 144A
44267DAF4
22625000.00000000
PA
USD
18615432.57000000
0.405642777109
Long
DBT
CORP
US
N
2
2031-02-01
Fixed
0.04375000
N
N
N
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 3.25% 04/15/2033
681936BN9
6000000.00000000
PA
USD
4548934.98000000
0.099124348104
Long
DBT
CORP
US
N
2
2033-04-15
Fixed
0.03250000
N
N
N
N
N
N
PROVIDENCE PLACE GROUP LTD PARTNERSHIP
N/A
PPGLP 2000-C1 A2 7.75% 7/28
743784AB6
2801559.46000000
PA
USD
2821727.33000000
0.061487333484
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
8000000.00000000
PA
USD
7426047.60000000
0.161818564252
Long
DBT
CORP
US
N
2
2026-05-15
Fixed
0.03850000
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC 7.15% SER I PERP PFD
25401T405
1074492.00000000
NS
USD
22736250.72000000
0.495438171981
Long
EP
CORP
US
N
1
N
N
N
AG MORTGAGE INVESTMENT TR INC
549300SNP0PBR2XTFR48
AG MTG INVT 8% PFD PRP
001228303
79412.00000000
NS
USD
1318239.20000000
0.028725317446
Long
EP
CORP
US
N
1
N
N
N
EQUITY LIFESTYLE PROPERTIES INC
529900PEQG66LENB6798
EQUITY LIFESTYLE PPTYS INC
29472R108
1429596.00000000
NS
USD
101758643.28000000
2.217389174266
Long
EC
CORP
US
N
1
N
N
N
Fidelity Revere Street Trust
549300BDV45LJNXBZC55
Fidelity Securities Lending Cash Central Fund
31635A303
573342.66700000
NS
USD
573400.00000000
0.012494771073
Long
STIV
RF
US
N
1
N
N
GLADSTONE LAND CORP
54930002B3Q17H38FG74
GLADSTONE LAND CORP SER D 5% PFD 01/31/26
376549507
30000.00000000
NS
USD
706503.00000000
0.015395174830
Long
EP
CORP
US
N
1
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
8481716.85000000
0.184822306156
Long
ABS-MBS
CORP
US
N
2
2048-05-15
Variable
0.04023952
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
2791022.25000000
0.060818249170
Long
ABS-MBS
CORP
US
N
2
2050-06-15
Variable
0.04434277
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
1290805.42000000
0.028127516957
Long
ABS-MBS
CORP
US
N
3
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
2985759.82000000
0.065061711599
Long
ABS-MBS
CORP
US
N
2
2046-11-15
Variable
0.04884348
N
N
N
N
N
N
UDR INC
P3CH2EG5X6Z1XWU1OO74
UDR INC
902653104
392200.00000000
NS
USD
16033136.00000000
0.349372800678
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
23405000.00000000
PA
USD
18138875.00000000
0.395258267621
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
4847272.75000000
PA
USD
3223436.38000000
0.070240843456
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
178000.00000000
NS
USD
8535100.00000000
0.185985560845
Long
EC
CORP
US
N
1
N
N
N
SBA COMMUNICATIONS CORP
5299001HX8ZN8Y8QIT49
SBA COMMUNICATIONS CORP 3.125% 02/01/2029
78410GAG9
19000000.00000000
PA
USD
16018863.90000000
0.349061802034
Long
DBT
CORP
US
N
2
2029-02-01
Fixed
0.03125000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT SER H 6.25% PERP PFD
02665T868
98905.00000000
NS
USD
2342070.40000000
0.051035286860
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
12.20000000
0.000000265846
Long
EP
CORP
KY
N
3
N
N
N
SUN CMNTYS OPER LTD PRTNRSHP
549300PUNBPJCGT6X741
SUN CMNTYS OPER LTD PRTNRSHP 5.7% 01/15/2033
866677AJ6
12750000.00000000
PA
USD
12532014.40000000
0.273081009795
Long
DBT
CORP
US
N
2
2033-01-15
Fixed
0.05700000
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
1911313.07000000
0.041648795359
Long
ABS-MBS
CORP
US
N
2
2041-02-12
Variable
0.02892490
N
N
N
N
N
N
BANK 2022-BNK42
N/A
BANK 2022-BNK42 A5 CSTR 06/15/2055
06541MBN3
20000000.00000000
PA
USD
18875102.00000000
0.411301148373
Long
ABS-MBS
CORP
US
N
2
2055-06-15
Variable
0.04493000
N
N
N
N
N
N
TPGI 2021-DGWD G
N/A
TPGI 2021-DGWD G TSFR1M+396.448 06/15/2026 144A
87267HAU1
6131270.59000000
PA
USD
5887020.39000000
0.128282127794
Long
ABS-MBS
CORP
US
N
2
2026-06-15
Variable
0.09184480
N
N
N
N
N
N
ESSEX PROPERTY TRUST INC
549300TR2H2VEFX0NC60
ESSEX PROPERTY TRUST INC
297178105
163700.00000000
NS
USD
39869135.00000000
0.868775226229
Long
EC
CORP
US
N
1
N
N
N
SOTHERLY HOTELS INC
549300IYTT21F61LSR10
SOTHERLY HOTELS INC SER B 8% PERP PFD
83600C301
67250.00000000
NS
USD
1627450.00000000
0.035463228432
Long
EP
CORP
US
N
1
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 3.8% 02/15/2028
22822VAK7
2000000.00000000
PA
USD
1868942.62000000
0.040725514799
Long
DBT
CORP
US
N
2
2028-02-15
Fixed
0.03800000
N
N
N
N
N
N
CYXTERA TECHNOLOGIES INC
N/A
CYXTERA TECHNOLOGIES INC A
23284C102
740700.00000000
NS
USD
41553.27000000
0.000905473658
Long
EC
CORP
US
N
1
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
1236809.92000000
0.026950918750
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
13965000.00000000
PA
USD
11718780.02000000
0.255360086518
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
4000000.00000000
PA
USD
3685000.00000000
0.080298624704
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
17070000.00000000
PA
USD
14765550.00000000
0.321751250476
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
28416233.87170000
PA
USD
94839.18000000
0.002066609422
Long
ABS-MBS
CORP
US
N
2
2044-06-15
Variable
0.00451788
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 2.5% 07/15/2031
22822VAY7
10000000.00000000
PA
USD
8154832.00000000
0.177699265751
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
29453355.58000000
0.641808397830
Long
EP
CORP
US
N
1
N
N
N
GREAT AJAX CORP
5493004ID2QQWNGDYC18
GREAT AJAX CORP
38983D300
1663364.00000000
NS
USD
11477211.60000000
0.250096148418
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
149427.00000000
NS
USD
2172668.58000000
0.047343907438
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
15755154.72000000
0.343315401905
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
525866.25000000
0.011458978739
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
5624050.00000000
PA
USD
4799185.21000000
0.104577468674
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.04944682
N
N
N
N
N
N
BROOKFIELD OFFICE PROPERTIES INC
36ZUFRRMJERSM4Q0S289
BROOKFIELD OFFICE PROPERTIES INC 5.1/VAR SER EE PERP PFD
112900642
482169.00000000
NS
4537760.05000000
0.098880838874
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
7994800.12000000
0.174212063615
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
0.000000022444
Long
DBT
CORP
US
N
3
2026-12-15
Fixed
0.05950000
Y
Y
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 5.55% 07/15/2033
03027XCD0
15000000.00000000
PA
USD
15004516.65000000
0.326958494260
Long
DBT
CORP
US
N
2
2033-07-15
Fixed
0.05550000
N
N
N
N
N
N
HEALTHCARE TRUST INC
549300Z2NSUGF5NF2Y30
HEALTHCARE TRUST INC SER A 7.375% PFD PERP
42226B204
364800.00000000
NS
USD
6562752.00000000
0.143006773372
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
1955032.20000000
0.042601464562
Long
ABS-CBDO
CORP
US
N
2
2052-04-17
Fixed
0.05885000
N
N
N
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP SER D 7%/VAR PFD PERP
64828T706
151200.00000000
NS
USD
3228120.00000000
0.070342902681
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
24679910.00000000
PA
USD
22922700.41000000
0.499501035938
Long
LON
CORP
US
N
3
2024-01-09
Variable
0.10221640
N
N
N
N
N
N
EASTGROUP PROPERTIES INC
31TIGQQZC4P6JMHKSW85
EASTGROUP PPTYS INC
277276101
63100.00000000
NS
USD
11180058.00000000
0.243620971917
Long
EC
CORP
US
N
1
N
N
N
COMM 2012-CCRE2 MTG TR
N/A
COMM 2012-CR2 D CSTR 8/45
12624KAW6
1270440.45000000
PA
USD
1206986.27000000
0.026301041388
Long
ABS-MBS
CORP
US
N
2
2045-08-15
Variable
0.04873755
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
1712988.90000000
0.037327178508
Long
ABS-MBS
CORP
US
N
2
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
189250.00000000
NS
USD
4470085.00000000
0.097406154087
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
11181761.08000000
0.243658083174
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
63168.00000000
NS
USD
963312.00000000
0.020991215403
Long
EP
CORP
US
N
1
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LXP INDUSTRIAL TRUST 2.375% 10/01/2031
529537AA0
3000000.00000000
PA
USD
2275772.04000000
0.049590601072
Long
DBT
CORP
US
N
2
2031-10-01
Fixed
0.02375000
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 10.5% 02/15/2028 144A
91327TAA9
7000000.00000000
PA
USD
6958141.33000000
0.151622572401
Long
DBT
CORP
US
N
2
2028-02-15
Fixed
0.10500000
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
2707681.61000000
0.059002200656
Long
ABS-MBS
CORP
US
N
2
2046-05-15
Variable
0.03757016
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
11925643.75000000
0.259867786116
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
43800.00000000
NS
USD
1073976.00000000
0.023402658281
Long
EP
CORP
US
N
1
N
N
N
AG MORTGAGE INVESTMENT TR INC
549300SNP0PBR2XTFR48
AG MORTTGAGE INVVESTMENT TRUST SER C 8% PFD PRP
001228402
308938.00000000
NS
USD
5987218.44000000
0.130465510593
Long
EP
CORP
US
N
1
N
N
N
BBCMS 2022
N/A
BBCMS 2022 3.662% 04/15/2055
05552FBA4
9822000.00000000
PA
USD
8721200.33000000
0.190040812013
Long
ABS-MBS
CORP
US
N
2
2055-04-15
Fixed
0.03662000
N
N
N
N
N
N
DIGITAL REALTY TRUST LP
CD4SPTZ3YBTHY0C1AH38
DIGITAL REALTY TRUST LP 3.7% 08/15/2027
25389JAR7
5000000.00000000
PA
USD
4674708.15000000
0.101865029942
Long
DBT
CORP
US
N
2
2027-08-15
Fixed
0.03700000
N
N
N
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
8144573.21000000
0.177475719828
Long
ABS-CBDO
CORP
US
N
2
2052-10-17
Fixed
0.06070000
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
3106411.40000000
0.067690790552
Long
ABS-MBS
CORP
US
N
2
2044-01-15
Variable
0.02775460
N
N
N
N
N
N
VENTAS RLTY LTD PARTNERSHIP
32SXKSJ72K64GM3HOU64
VENTAS RLTY LTD PARTNERSHIP 4.4% 01/15/2029
92277GAN7
3000000.00000000
PA
USD
2813920.05000000
0.061317207610
Long
DBT
CORP
US
N
2
2029-01-15
Fixed
0.04400000
N
N
N
N
N
N
GLP CAP LP / GLP FING II INC
N/A
GLP CAP LP / GLP FING II INC 5.375% 04/15/2026
361841AH2
3000000.00000000
PA
USD
2944084.20000000
0.064153571851
Long
DBT
CORP
US
N
2
2026-04-15
Fixed
0.05375000
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
867688.20000000
0.018907508584
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
524200.00000000
NS
USD
99760502.00000000
2.173848333899
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
6508885.25000000
0.141832980714
Long
ABS-MBS
CORP
US
N
2
2047-09-15
Fixed
0.04709400
N
N
N
N
N
N
BENCHMARK 2023-V3 MTG TR
N/A
BENCHMARK 2023-V3 MTG TR 7.0967% 07/15/2056
08163VAF4
5000000.00000000
PA
USD
5150000.00000000
0.112221958542
Long
ABS-MBS
CORP
US
N
2
2056-07-15
Fixed
0.07096700
N
N
N
N
N
N
MSWF COML MTG TR 2023-1
N/A
MSWF COML MTG TR 2023-1 6.90553% 05/15/2056
55376CAW3
3750000.00000000
PA
USD
3785922.00000000
0.082497782859
Long
ABS-MBS
CORP
US
N
2
2056-05-15
Variable
0.06682775
N
N
N
N
N
N
MHP COML MTG TR 2021-STOR
N/A
MHP 2021-STOR J TSFR1M+406.448 07/15/2038 144A
55293BAR6
3476000.00000000
PA
USD
3296520.22000000
0.071833389410
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.09286480
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
20577555.00000000
0.448398742545
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
549300LH3QNZK9Y1KC93
FRANKLIN BSP RE 7.5% PFD PERP
35243J200
57733.00000000
NS
USD
1173134.56000000
0.025563389894
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
4380105.00000000
0.095445429460
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
23000000.00000000
PA
USD
21071437.12000000
0.459160765612
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
63650.00000000
NS
USD
1379295.50000000
0.030055775226
Long
EP
CORP
US
N
1
N
N
N
REXFORD INDL RLTY INC
549300MSLO0DF0EMX355
REXFORD INDUSTRIAL REALTY INC
76169C100
67700.00000000
NS
USD
3729593.00000000
0.081270336121
Long
EC
CORP
US
N
1
N
N
N
SITE CENTERS CORP
W2AVA6SODOQ1LCYJQR54
SITE CENTERS CORP 6.375% 12/31/99 PFD PERP
82981J877
124200.00000000
NS
USD
2993220.00000000
0.065224273931
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
2398000.00000000
PA
USD
1831943.47000000
0.039919278474
Long
ABS-MBS
CORP
US
N
2
2048-01-15
Variable
0.03870653
N
N
N
N
N
N
BX COML MTG TR 2021-CIP
N/A
BX COML MTG TR 2021-CIP F TSFR1M+333.348 73 11/15/2036 144A
12434FAN7
7790000.00000000
PA
USD
7437757.23000000
0.162073724953
Long
ABS-MBS
CORP
US
N
2
2038-12-15
Variable
0.08555480
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2011-C2
3IFG42XD94UUZ7FL2766
MSC 2011-C2 D CSTR 6/44
617459AJ1
3103727.82000000
PA
USD
2814346.17000000
0.061326493051
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
3898800.00000000
0.084957470284
Long
EP
CORP
US
N
1
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 4.5% 04/01/2027 REGS
681936BF6
2434000.00000000
PA
USD
2301893.17000000
0.050159798037
Long
DBT
CORP
US
N
2
2027-04-01
Fixed
0.04500000
N
N
N
N
N
N
STWD TR 2021-LIH
N/A
STWD TR 2021-LIH TSFR1M+359.8 1 11/15/2036 144A
78486EAS7
15282000.00000000
PA
USD
14296897.83000000
0.311539004962
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.08820000
N
N
N
N
N
N
TRICON RESIDENTIAL 2023-SFR1 TRUST
N/A
TRICON RESIDENTIAL 2023-SFR1 TRUST 5.1% 07/17/2040 144A
89616WAD0
5000000.00000000
PA
USD
4682386.50000000
0.102032346345
Long
ABS-CBDO
CORP
US
N
2
2040-07-17
Fixed
0.05100000
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC SER H 7.125% PERP PFD
25401T504
965305.00000000
NS
USD
20628567.85000000
0.449510346805
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
39531.16260000
PA
USD
27594.02000000
0.000601292226
Long
ABS-CBDO
USGSE
US
N
3
2043-06-25
Variable
0.03573110
N
N
N
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS INC REIT
74340W103
737730.00000000
NS
USD
92031817.50000000
2.005435108357
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
1670831.40000000
0.036408538272
Long
ABS-MBS
CORP
US
N
2
2045-11-15
Variable
0.04522128
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
5792640.96000000
0.126225536633
Long
ABS-MBS
CORP
US
N
2
2037-08-15
Variable
0.03704200
N
N
N
N
N
N
BANK 2022-BNK43
N/A
BANK 2022-BNK43 D 3% 08/15/2055 144A
06541QAC9
5344000.00000000
PA
USD
2688821.31000000
0.058591222053
Long
ABS-MBS
CORP
US
N
2
2055-08-15
Fixed
0.03000000
N
N
N
N
N
N
DIAMONDROCK HOSPITALITY CO
529900KKD4BPVBUAQ734
DIAMONDROCK HOSPITALITY CO 8.25% PFD PERP
252784400
448231.00000000
NS
USD
11524019.01000000
0.251116113316
Long
EP
CORP
US
N
1
N
N
N
AVALONBAY COMMUNITIES INC
K9G90K85RBWD2LAGQX17
AVALONBAY COMMUNITIES INC REIT
053484101
126700.00000000
NS
USD
23901955.00000000
0.520839651084
Long
EC
CORP
US
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C2
3IFG42XD94UUZ7FL2766
MSC 2011-C2 F CSTR 6/44
617459AL6
4440000.00000000
PA
USD
1695028.61000000
0.036935811727
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
5224727.17000000
0.113850313760
Long
ABS-MBS
CORP
US
N
2
2042-10-09
Variable
0.02653530
N
N
N
N
N
N
CITIGROUP COML MTG TR 2023-PRM3
N/A
CITIGROUP COML MTG TR 2023-PRM3 VAR 07/10/2028 144A
17331LAC1
5000000.00000000
PA
USD
4964839.00000000
0.108187176005
Long
ABS-MBS
CORP
US
N
2
2028-07-10
Variable
0.06359730
N
N
N
N
N
N
LAMAR ADVERTISING CO
529900Y8WW4MKVPTB543
LAMAR ADVERTISING CO CL A
512816109
201900.00000000
NS
USD
19927530.00000000
0.434234261263
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
7985588.58000000
0.174011337972
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
4312764.00000000
0.093978023846
Long
EP
CORP
US
N
1
N
N
N
2023-08-30
Stacie M. Smith
Stacie M. Smith
Stacie M. Smith
President and Treasurer