0001752724-23-213908.txt : 20230925
0001752724-23-213908.hdr.sgml : 20230925
20230925150919
ACCESSION NUMBER: 0001752724-23-213908
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: 231275489
BUSINESS ADDRESS:
STREET 1: 245 SUMMER STREET
CITY: BOSTON
STATE: MA
ZIP: 02210
BUSINESS PHONE: 617-563-7000
MAIL ADDRESS:
STREET 1: 245 SUMMER STREET
CITY: BOSTON
STATE: MA
ZIP: 02210
0000754510
S000031548
Fidelity Series Real Estate Income Fund
C000098199
Fidelity Series Real Estate Income Fund
FSREX
NPORT-P
1
primary_doc.xml
NPORT-P
false
0000754510
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S000031548
C000098199
Fidelity Securities Fund
811-04118
0000754510
LIUMB3NDWOFJPXVROE85
245 Summer Street
Boston
02210
1-800-FIDELITY
Fidelity Series Real Estate Income Fund
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2023-07-31
2023-07-31
N
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0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
1304.85000000
USD
N
DIGITAL REALTY TRUST INC
549300HKCZ31D08NEI41
DIGITAL REALTY TRUST INC
253868103
2200.00000000
NS
USD
274164.00000000
0.081068542963
Long
EC
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
1680000.00000000
PA
USD
189595.06000000
0.056062047778
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
1021000.00000000
PA
USD
988655.43000000
0.292339093399
Long
ABS-MBS
CORP
US
N
2
2037-12-15
Variable
0.08586480
N
N
N
N
N
N
SERITAGE GROWTH PPTYS
5493003CJFC2MM82WB25
SERITAGE GROWTH PPTYS SER A 7% PERP PFD
81752R308
1050.00000000
NS
USD
25042.50000000
0.007404907234
Long
EP
CORP
US
N
1
N
N
N
EQUINIX INC
549300EVUN2BTLJ3GT74
EQUINIX INC
29444U700
1500.00000000
NS
USD
1214880.00000000
0.359232253231
Long
EC
CORP
US
N
1
N
N
N
UBS COML MTG TR 2012-C1
N/A
UBSCM 2012-C1 F CSTR 5/10/45 144A
90269GAS0
399000.00000000
PA
USD
19098.93000000
0.005647431563
Long
ABS-MBS
CORP
US
N
3
2045-05-10
Variable
0.05000000
N
N
N
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSYLVANIA REAL EST INVT TR 7.2% PERP PFD C
709102602
9575.00000000
NS
USD
10341.00000000
0.003057767623
Long
EP
CORP
US
N
1
N
N
N
BANK 2017-BNK4
N/A
BANK 2017-BNK4 D 3.357% 05/15/2050 144A
06541FAJ8
625000.00000000
PA
USD
440915.13000000
0.130375786607
Long
ABS-MBS
CORP
US
N
2
2050-05-15
Fixed
0.03357000
N
N
N
N
N
N
BRIXMOR OPERATING PARTNERSHIP LP
549300CJHBL7JBUA6503
BRIXMOR OPERATING PARTNERSHIP LP 3.85% 02/01/2025
11120VAA1
1753000.00000000
PA
USD
1686361.46000000
0.498646308309
Long
DBT
CORP
US
N
2
2025-02-01
Fixed
0.03850000
N
N
N
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 5.375% 08/01/2028 144A
44267DAD9
970000.00000000
PA
USD
889975.00000000
0.263159920790
Long
DBT
CORP
US
N
2
2028-08-01
Fixed
0.05375000
N
N
N
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6
N/A
MORGAN STAN BAML TR-2012-C6 F CSTR 11/15/2045 144A
61761DAU6
1000000.00000000
PA
USD
616522.40000000
0.182301734261
Long
ABS-MBS
CORP
US
N
3
2045-11-15
Variable
0.04522128
N
N
N
N
N
N
BHP TRUST 2019-BXHP
N/A
BHP TRUST 2019-BXHP F TSFR1M+298.498 798 08/15/2036 144A
05550TAL3
1050000.00000000
PA
USD
991211.87000000
0.293095016372
Long
ABS-MBS
CORP
US
N
2
2036-08-15
Variable
0.08274460
N
N
N
N
N
N
CENTURY CMNTYS INC
5299002QMB2O7ZL1CA26
CENTURY COMMUNITIES INC 6.75% 06/01/2027
156504AL6
1330000.00000000
PA
USD
1335147.10000000
0.394794466226
Long
DBT
CORP
US
N
2
2027-06-01
Fixed
0.06750000
N
N
N
N
N
N
WP CAREY INC
54930042CRNE713E3Q67
WP CAREY INC 4.25% 10/01/2026
92936UAE9
459000.00000000
PA
USD
440328.53000000
0.130202332735
Long
DBT
CORP
US
N
2
2026-10-01
Fixed
0.04250000
N
N
N
N
N
N
EXTRA SPACE STORAGE INC
N/A
EXTRA SPACE STORAGE INC
30225T102
7048.00000000
NS
USD
983689.36000000
0.290870658232
Long
EC
CORP
US
N
1
N
N
N
WILLIAMS SCOTSMAN INTL INC
549300V3TCHCBOBTGH07
WILLIAMS SCOTSMAN INTL INC 4.625% 08/15/2028 144A
96950GAE2
750000.00000000
PA
USD
689787.95000000
0.203965889248
Long
DBT
CORP
US
N
2
2028-08-15
Fixed
0.04625000
N
N
N
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP SER C 6.375%/VAR PFD PERP
64828T508
30446.00000000
NS
USD
604962.02000000
0.178883403763
Long
EP
CORP
US
N
1
N
N
N
ARMADA HOFFLER PROPERTIES INC
549300WQRSIV6XZT9313
ARMADA HOFFLER PPTYS INC SER A 6.75% PFD PERP
04208T207
33250.00000000
NS
USD
764417.50000000
0.226033370320
Long
EP
CORP
US
N
1
N
N
N
COMM 2017-COR2
N/A
COMM 2017-COR2 D 3% 09/10/2050 144A
12595EAN5
31000.00000000
PA
USD
20133.78000000
0.005953430096
Long
ABS-MBS
CORP
US
N
2
2050-09-10
Fixed
0.03000000
N
N
N
N
N
N
SPIRIT REALTY CAPITAL INC
549300LTU6LVPZSHMJ25
SPIRIT RLTY CAP INC SER A 6% PFD PERP
84860W201
16575.00000000
NS
USD
374926.50000000
0.110863370366
Long
EP
CORP
US
N
1
N
N
N
PROGRESS RESIDENTIAL TRUST 2021-SFR6
N/A
PROGRESS RESIDENTIAL TRUST 2021-SFR6 3.422% 07/17/2038 144A
74333HAN5
1449000.00000000
PA
USD
1241782.42000000
0.367187126926
Long
ABS-CBDO
CORP
US
N
2
2038-07-17
Fixed
0.03422000
N
N
N
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 4.95% 04/01/2024
681936BB5
659000.00000000
PA
USD
651816.72000000
0.192738039164
Long
DBT
CORP
US
N
2
2024-04-01
Fixed
0.04950000
N
N
N
N
N
N
XHR LP
549300M88BPT83ZL2164
XHR LP 6.375% 08/15/2025 144A
98372MAA3
750000.00000000
PA
USD
737370.40000000
0.218035715674
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
26000.00000000
NS
USD
495300.00000000
0.146457045161
Long
EP
CORP
US
N
1
N
N
N
UMH PPTYS INC
529900OM5K3PJ11F0Q09
UMH PPTYS INC 6.75% SER D PFD PERP
903002509
63875.00000000
NS
USD
1378422.50000000
0.407590725487
Long
EP
CORP
US
N
1
N
N
N
DYNEX CAPITAL INC
5CIJ4S9HAEBWILA19B65
DYNEX CAP INC 6.9%/VAR PFD PERP C
26817Q878
89500.00000000
NS
USD
2022700.00000000
0.598099465471
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
3629000.00000000
PA
USD
0.36000000
0.000000106449
Long
DBT
CORP
US
N
3
2023-12-01
Fixed
0.05250000
Y
Y
N
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LXP INDUSTRIAL TRUST REIT
529043101
17922.00000000
NS
USD
180474.54000000
0.053365168292
Long
EC
CORP
US
N
1
N
N
N
WFRBS COML MTG TR 2011-C3
N/A
WFRBS 2011-C3 D CSTR 3/44
92935VAS7
843915.79000000
PA
USD
262668.79000000
0.077669482817
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
6700.00000000
NS
USD
99964.00000000
0.029558716055
Long
EP
CORP
US
N
1
N
N
N
BX TR 2022-LBA6
N/A
BX TR 2022-LBA6 TSFR1M+420 01/15/2039 144A
12433EAS0
1491000.00000000
PA
USD
1432047.80000000
0.423447384045
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.09421640
N
N
N
N
N
N
AMR HMS 15-SFR2
N/A
AMERICAN HOMES 4 RENT 2015-SFR2 TR VAR 10/17/2045 144A
02666BAG1
886473.42020000
PA
USD
8.86000000
0.000002619845
Long
ABS-CBDO
CORP
US
N
3
2052-10-17
Variable
0.00000000
N
N
N
N
N
N
WFRBS COML MTG TR 2013-C13
N/A
WFRBS COML MTG TR 2013-C13 D CSTR 05/15/2045 144A
92937UAJ7
45000.00000000
PA
USD
37350.00000000
0.011044156343
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
30350.00000000
NS
USD
762528.58000000
0.225474828746
Long
EP
CORP
US
N
1
N
N
N
TERRENO RLTY CORP
N/A
TERRENO REALTY CORP
88146M101
6480.00000000
NS
USD
384523.20000000
0.113701053236
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
332921.33910000
PA
USD
315023.82000000
0.093150530653
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.08682480
N
N
N
N
N
N
WP CAREY INC
54930042CRNE713E3Q67
WP CAREY INC 4% 02/01/2025
92936UAC3
422000.00000000
PA
USD
410547.89000000
0.121396387778
Long
DBT
CORP
US
N
2
2025-02-01
Fixed
0.04000000
N
N
N
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER L 4/VAR PFD PERP
29250N790
19600.00000000
NS
USD
370440.00000000
0.109536740984
Long
EP
CORP
CA
N
1
N
N
N
GS MTG SECS TR 2013-GCJ16
N/A
GSMS 2013-GC16 F 3.5% 11/10/2046
36248GAT7
1510000.00000000
PA
USD
1237914.01000000
0.366043262807
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
20600.00000000
NS
USD
1692290.00000000
0.500399339705
Long
EC
CORP
US
N
1
N
N
N
MHP COML MTG TR 2021-STOR
N/A
MERIT 2021-STOR G TSFR1M+286.448 07/15/2038 144A
55293BAP0
250000.00000000
PA
USD
237795.73000000
0.070314677907
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.08086480
N
N
N
N
N
N
SREIT TR 2021-IND
N/A
SREIT TR 2021-IND G TSFR1M+338.026 21 10/15/2038 144A
78473JAS1
1573000.00000000
PA
USD
1470799.99000000
0.434906159012
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
53702.00000000
NS
USD
1055244.30000000
0.312028996772
Long
EP
CORP
US
N
1
N
N
N
WFRBS COML MTG TR 2013-C11
N/A
WFRBS 2013-C11 E VAR 3/45
92937EAL8
53000.00000000
PA
USD
27951.31000000
0.008265023765
Long
ABS-MBS
CORP
US
N
3
2045-03-15
Variable
0.04061359
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2014-DSTY
N/A
JPMCC 2014-DSTY E CSTR 06/27
46642MAN8
924000.00000000
PA
USD
2254.47000000
0.000666632373
Long
ABS-MBS
CORP
US
N
3
2027-06-10
Variable
0.03804600
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
735000.00000000
PA
USD
383560.04000000
0.113416252978
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
41125.00000000
NS
USD
775613.39000000
0.229343923454
Long
EP
CORP
US
N
1
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INVT CORP 8.125% SER A PERP PFD
90187B200
41635.00000000
NS
USD
899320.16000000
0.265923224889
Long
EP
CORP
US
N
1
N
N
N
URSTADT BIDDLE PPTYS INC
549300XXD0YL0AER3Z82
URSTADT BIDDLE PPTYS INC SER K 5.875% PFD PERP
917286874
28775.00000000
NS
USD
644560.00000000
0.190592273428
Long
EP
CORP
US
N
1
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
500000.00000000
PA
USD
378777.00000000
0.112001938613
Long
ABS-MBS
CORP
US
N
3
2038-07-15
Variable
0.09686480
N
N
N
N
N
N
HEALTHCARE TRUST INC
549300Z2NSUGF5NF2Y30
HEALTHCARE TRUST INC 7.125% PERP PFD
42226B303
48000.00000000
NS
USD
924480.00000000
0.273362828812
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
700000.00000000
PA
USD
672000.28000000
0.198706188888
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.08571640
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2021-SOAR
N/A
BX TRUST 2.9% 06/15/2023 144A
05608WAS3
928404.86000000
PA
USD
881870.52000000
0.260763477840
Long
ABS-MBS
CORP
US
N
2
2038-06-15
Variable
0.08136480
N
N
N
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6.125% SER D PFD PERP
804395804
15958.00000000
NS
USD
358257.10000000
0.105934335300
Long
EP
CORP
US
N
1
N
N
N
NNN REIT INC
5493008JKH5SOTI0JS97
NNN REIT INC
637417106
1900.00000000
NS
USD
81092.00000000
0.023978386243
Long
EC
CORP
US
N
1
N
N
N
AGREE REALTY CORP
N/A
AGREE REALTY CORP 4.375% PERP PFD
008492209
38700.00000000
NS
USD
694092.24000000
0.205238640298
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
740000.00000000
PA
USD
632566.36000000
0.187045830717
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
1000000.00000000
PA
USD
868145.96000000
0.256705213144
Long
DBT
CORP
US
N
2
2032-04-15
Fixed
0.03625000
N
N
N
N
N
N
SOTHERLY HOTELS INC
549300IYTT21F61LSR10
SOTHERLY HOTELS INC SER C 7.875% PERP PFD
83600C400
19300.00000000
NS
USD
462235.00000000
0.136679935938
Long
EP
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C3
N/A
JPMCC 2011-C3 E CSTR 2/46
46635TBD3
3467000.00000000
PA
USD
1446258.01000000
0.427649252343
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
2640000.00000000
PA
USD
2059807.20000000
0.609071827406
Long
DBT
CORP
US
N
2
2030-02-01
Fixed
0.04750000
N
N
N
N
N
N
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-BNK1
549300DNBJ7A0SEFVK31
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-BNK1 D 3% 08/15/2049 144A
95000GAJ3
1260000.00000000
PA
USD
606192.05000000
0.179247115775
Long
ABS-MBS
CORP
US
N
2
2049-08-15
Fixed
0.03000000
N
N
N
N
N
N
CUBESMART
N/A
CUBESMART
229663109
15800.00000000
NS
USD
685088.00000000
0.202576144065
Long
EC
CORP
US
N
1
N
N
N
BROOKFIELD PROPERTY PARTNERS LP
5493004J5Z0TZW83NU62
BROOKFIELD PROPERTY PARTN LP 5.75% PFD PERP
N/A
7000.00000000
NS
USD
94850.00000000
0.028046538933
Long
EP
CORP
BM
N
1
N
N
N
GLOBAL NET LEASE INC
549300NUYANCT5SU8Z65
GLOBAL NET LEASE INC SER B 6.875% PFD PERP
379378409
47200.00000000
NS
USD
965712.00000000
0.285554867750
Long
EP
CORP
US
N
1
N
N
N
PRIMA CAPITAL CRE SECURITIZATION 2020-VIII LTD
N/A
PRIMA CAPITAL CRE SECURITIZATION 2020-VIII LTD 3% 12/01/2070 144A
74167UAE7
250000.00000000
PA
USD
180833.25000000
0.053471236547
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
56700.00000000
NS
USD
1213947.00000000
0.358956371093
Long
EP
CORP
US
N
1
N
N
N
VENTAS INC
ORQTRC074CWLT3DKHT41
VENTAS INC REIT
92276F100
36155.00000000
NS
USD
1754240.60000000
0.518717736277
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
27461.00000000
NS
USD
680208.97000000
0.201133446070
Long
EP
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2013-LC11
N/A
JP MORGAN CH CMS 13-LC11 VAR 04/15/2046 144A
46639YAE7
482000.00000000
PA
USD
52100.34000000
0.015405737630
Long
ABS-MBS
CORP
US
N
3
2046-04-15
Variable
0.03250000
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INV CORP 7.625% SER B PFD PERP
90187B309
89612.00000000
NS
USD
1849591.68000000
0.546912441364
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
875000.00000000
PA
USD
802060.00000000
0.237164017044
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
26100.00000000
NS
USD
308502.00000000
0.091222070152
Long
EP
CORP
US
N
1
N
N
N
GLADSTONE COMMERCIAL CORP
529900EVVV534W8R0T32
GLADSTONE COMMERCIAL CORP SER G 6% PFD PERP
376536884
81700.00000000
NS
USD
1442005.00000000
0.426391664462
Long
EP
CORP
US
N
1
N
N
N
MHC COML MTG TR 2021-MHC
N/A
MHC 2021 MHC G TSFR1M+331.544 9 04/15/2026 144A
55316VAN4
846000.00000000
PA
USD
808615.85000000
0.239102539999
Long
ABS-MBS
CORP
US
N
2
2038-04-15
Variable
0.08537442
N
N
N
N
N
N
GLOBAL PARTNERS LP
549300PCHWTW9P4DU444
GLOBAL PARTNERS LP SER A 9.75/VAR PFD PERP
37946R208
1825.00000000
NS
USD
47778.68000000
0.014127850382
Long
EP
CORP
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE
74460D109
5300.00000000
NS
USD
1493275.00000000
0.441551875860
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
735000.00000000
PA
USD
310068.72000000
0.091685339245
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
1294000.00000000
PA
USD
1238358.00000000
0.366174547813
Long
DBT
CORP
US
N
2
2024-11-01
Fixed
0.05500000
N
N
N
N
Y
PENNYMAC MORTGAGE INVESTMENT TRUST
PENNYMAC MORTGAGE INV TRUST
USD
XXXX
N
N
N
UBS-BAMLL TR 2012-WRM
N/A
UBSBM 2012-WRM D CSTR 6/30
90269PAL5
1817000.00000000
PA
USD
1470335.30000000
0.434768753148
Long
ABS-MBS
CORP
US
N
2
2030-06-10
Variable
0.04238000
N
N
N
N
N
N
BENCHMARK 2019-B14 MTG TR
N/A
BENCHMARK 2019-B14 MTG TR VAR 12/15/2062 144A
08162YBM3
573000.00000000
PA
USD
275549.23000000
0.081478146622
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
126199.00000000
NS
USD
3234480.37000000
0.956415177918
Long
EP
CORP
US
N
1
N
N
N
NATIONAL STORAGE AFFILIATES TRUST
N/A
NATIONAL STORAGE AFFILIATES SER A 6% PFD PERP
637870205
12325.00000000
NS
USD
291979.25000000
0.086336398553
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
1280000.00000000
PA
USD
1191486.34000000
0.352314897449
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
27400.00000000
NS
USD
35620.00000000
0.010532606397
Long
EP
CORP
US
N
1
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
1592900.00000000
PA
USD
1542077.25000000
0.455982389351
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.07986120
N
N
N
N
N
N
CITY OFFICE REIT INC
5493003J7157VP25NL57
CITY OFFICE REIT INC 6.625% SER A PFD PERP
178587200
13025.00000000
NS
USD
221685.50000000
0.065550985837
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER E 6.375% PERP PFD
70509V605
55192.00000000
NS
USD
1101632.32000000
0.325745637879
Long
EP
CORP
US
N
1
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 4.75% 01/15/2028
681936BK5
1616000.00000000
PA
USD
1510568.25000000
0.446665379385
Long
DBT
CORP
US
N
2
2028-01-15
Fixed
0.04750000
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 2.1% 04/01/2031
22822VAW1
1000000.00000000
PA
USD
796679.44000000
0.235573019832
Long
DBT
CORP
US
N
2
2031-04-01
Fixed
0.02100000
N
N
N
N
N
N
WILLIAMS SCOTSMAN INTL INC
549300V3TCHCBOBTGH07
WILLIAMS SCOTSMAN INTL INC 6.125% 06/15/2025 144A
71953LAA9
648000.00000000
PA
USD
643823.47000000
0.190374486213
Long
DBT
CORP
US
N
2
2025-06-15
Fixed
0.06125000
N
N
N
N
N
N
COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR
N/A
CD 2017-CD4 D 3.3% 05/10/2050 144A
12515DAF1
1192000.00000000
PA
USD
789049.76000000
0.233316972208
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
63249.00000000
NS
USD
1299134.46000000
0.384145758689
Long
EP
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C3
N/A
JP MORGAN CHASE CO MT SE 2011-C3 H CSTR 02/15/2046 144A
46635TBN1
1320000.00000000
PA
USD
100958.09000000
0.029852662116
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
431230.60000000
PA
USD
344710.65000000
0.101928736593
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
120198.00000000
NS
USD
2635942.14000000
0.779431247811
Long
EP
CORP
US
N
1
N
N
N
WP GLIMCHER MALL TR 15-WPG
N/A
JPMDB 2015-WPG PR1 CSTAR 6/5/35 144A
92939VAL8
1168000.00000000
PA
USD
931080.19000000
0.275314462822
Long
ABS-MBS
CORP
US
N
2
2035-06-05
Variable
0.03516000
N
N
N
N
N
N
SUMMIT HOTEL PROPERTIES INC
254900OBQWJK6X20LS71
SUMMIT HOTEL PPTYS INC SERIES E 6.25% PFD PERP
866082605
60784.00000000
NS
USD
1206562.40000000
0.356772792059
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
1330635.97000000
PA
USD
1105189.64000000
0.326797514672
Long
ABS-CBDO
CORP
US
N
2
2041-01-17
Fixed
0.04242000
N
N
N
N
N
N
BANK 2017-BNK8
N/A
BANK 2017-BNK8 E 2.8% 11/15/2050 144A
06650AAW7
1848000.00000000
PA
USD
717932.85000000
0.212288156340
Long
ABS-MBS
CORP
US
N
3
2050-11-15
Fixed
0.02800000
N
N
N
N
N
N
INVITATION HOMES OPERATING PARTNERSHIP LP
549300147YMUQB3GW319
INVITATION HOMES OPERATING PARTNERSHIP LP 2% 08/15/2031
46188BAA0
1000000.00000000
PA
USD
772091.39000000
0.228302490559
Long
DBT
CORP
US
N
2
2031-08-15
Fixed
0.02000000
N
N
N
N
N
N
SUNSTONE HOTEL INVS INC NEW
529900ZQ2V52V96ATF67
SUNSTONE HOTEL INVS INC SER I 5.7% PERP PFD
867892887
38700.00000000
NS
USD
785223.00000000
0.232185423728
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
14100.00000000
NS
USD
286653.00000000
0.084761460461
Long
EP
CORP
US
N
1
N
N
N
VICI PROPERTIES LP / VICI NOTE CO INC
N/A
VICI PROPERTIES LP / VICI NOTE CO INC 4.625% 12/01/2029 144A
92564RAB1
1095000.00000000
PA
USD
1000589.10000000
0.295867803365
Long
DBT
CORP
US
N
2
2029-12-01
Fixed
0.04625000
N
N
N
N
N
N
DBGS 2018-C1 MTG TR
N/A
DBGS MTG TR 2018-C1 C CSTR 10/15/2051
23307DBE2
1000000.00000000
PA
USD
768138.50000000
0.227133646244
Long
ABS-MBS
CORP
US
N
2
2051-10-15
Variable
0.04649196
N
N
N
N
N
N
ENERGY TRANSFER LP
MTLVN9N7JE8MIBIJ1H73
ENERGY TRANSFER LP 7.6/VAR PFD PERP
29273V605
84925.00000000
NS
USD
2100195.25000000
0.621014315722
Long
EP
CORP
US
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C3
N/A
MSC 2011-C3 G CSTR 07/49
61760RAS1
979600.00000000
PA
USD
691483.57000000
0.204467273248
Long
ABS-MBS
CORP
US
N
3
2049-07-15
Variable
0.04944682
N
N
N
N
N
N
DCP MIDSTREAM LP
52990024YYS3MLGW0E91
DCP MIDSTREAM LP 7.95/VAR PERP PFD
23311P308
36975.00000000
NS
USD
927333.00000000
0.274206442682
Long
EP
CORP
US
N
1
N
N
N
HERSHA HOSPITALITY TR
549300DNC58BIN1VO064
HERSHA HOSPITL 6.875% PFD PERP
427825401
550.00000000
NS
USD
10917.50000000
0.003228234990
Long
EP
CORP
US
N
1
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR RLTY TR I 7.25% PFD PERP
150602407
28556.00000000
NS
USD
480026.36000000
0.141940727408
Long
EP
CORP
US
N
1
N
N
N
CTR PARTNERSHIP LP / CARETRUST CAP CORP
N/A
CTR PARTNERSHIP LP / CARETRUST CAP CORP 3.875% 06/30/2028 144A
126458AE8
2135000.00000000
PA
USD
1897758.80000000
0.561155150973
Long
DBT
CORP
US
N
2
2028-06-30
Fixed
0.03875000
N
N
N
N
N
N
PROGRESS RESIDENTIAL TRUST 2021-SFR6
N/A
PROGRESS RESIDENTIAL TRUST 2021-SFR6 4.003% 07/17/2038 144A
74333HAQ8
749000.00000000
PA
USD
631628.55000000
0.186768526292
Long
ABS-CBDO
CORP
US
N
2
2038-07-17
Fixed
0.04003000
N
N
N
N
N
N
CENTERSPACE
5493002LG2SH9EEHT720
CENTERSPACE 6.625% SER C PFD PERP
15202L206
57700.00000000
NS
USD
1376145.00000000
0.406917283290
Long
EP
CORP
US
N
1
N
N
N
BSREP COML MTG TR 2021-DC
N/A
BSREP COML MTG TR 2021-DC TSFR1M+296.448 08/15/2038 144A
05591UAL1
107000.00000000
PA
USD
83978.23000000
0.024831826011
Long
ABS-MBS
CORP
US
N
2
2038-08-15
Variable
0.08186480
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
854199.47000000
PA
USD
733705.32000000
0.216951974937
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
202000.00000000
PA
USD
198842.42000000
0.058796433042
Long
DBT
CORP
US
N
2
2027-06-15
Fixed
0.05875000
N
N
N
N
N
N
EG GLOBAL FINANCE PLC
549300TL8Q5207VYET27
EG GLOBAL FINANCE PLC 8.5% 10/30/2025 144A
28228PAB7
282000.00000000
PA
USD
279239.22000000
0.082569253087
Long
DBT
CORP
GB
N
2
2025-10-30
Fixed
0.08500000
N
N
N
N
N
N
MHP 2022-MHIL F
N/A
MHP 2022-MHIL F TSFR1M+395.75 01/15/2027 144A
55293DAN1
1517730.63300000
PA
USD
1440189.93000000
0.425854959860
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
1000000.00000000
PA
USD
1009523.31000000
0.298509592174
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
504000.00000000
PA
USD
453700.25000000
0.134156264898
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
11000.00000000
NS
USD
374660.00000000
0.110784568019
Long
EC
CORP
US
N
1
N
N
N
PENNYMAC MORTGAGE INVESTMENT TRUST
549300BSSOQO1ZWDUJ97
PENNYMAC MTG INVT TR 8.125/VAR PREF PERP
70931T301
62575.00000000
NS
USD
1501174.25000000
0.443887633610
Long
EP
CORP
US
N
1
N
N
N
TAH 2017
N/A
TAH 2017 5.104% 01/17/2036 144A
89613FAF5
628000.00000000
PA
USD
619677.24000000
0.183234600291
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
759236.00000000
PA
USD
222115.25000000
0.065678060166
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
155400.00000000
NS
USD
3053610.00000000
0.902932965224
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GS MTG SECS TR 2011-GC5 4.5% 08/10/2044 144A
36191YAQ1
677000.00000000
PA
USD
2374.58000000
0.000702148133
Long
ABS-MBS
CORP
US
N
3
2044-08-10
Fixed
0.04500000
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER F 6.125%/VAR PFD PERP
00123Q872
86500.00000000
NS
USD
1833800.00000000
0.542242942493
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
5305034.57000000
PA
USD
2970819.36000000
0.878452301986
Long
LON
CORP
US
N
3
2023-11-15
Variable
0.00000000
Y
Y
N
N
N
N
JP MORGAN CHASE COML MTG SECS TR 2012-CIBX
N/A
JPMCC 2012-CBX G 4.0% 6/45 144A
46637WAU7
805000.00000000
PA
USD
221375.00000000
0.065459172971
Long
ABS-MBS
CORP
US
N
3
2045-06-15
Fixed
0.04000000
N
N
N
N
N
N
CBL and ASSOCS LTD PARTNERSHIP
549300VS75TWHD9JTH89
CBL and ASSOCS LP 4.6% 10/15/2024
12505JAB9
3930000.00000000
PA
USD
0.39000000
0.000000115320
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
28600.00000000
NS
USD
900328.00000000
0.266221236737
Long
EC
CORP
US
N
1
N
N
N
REXFORD INDL RLTY INC
549300MSLO0DF0EMX355
REXFORD INDL RLTY INC SER B 5.875% PERP PFD
76169C308
50000.00000000
NS
USD
1160000.00000000
0.343004587900
Long
EP
CORP
US
N
1
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
1132986.78000000
PA
USD
1072441.21000000
0.317114013175
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
135990.00000000
NS
USD
3413349.00000000
1.009305488885
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER H 5.7% PERP PFD
70509V886
94400.00000000
NS
USD
1675600.00000000
0.495464213350
Long
EP
CORP
US
N
1
N
N
N
WFRBS COML MTG TR 2011-C4
N/A
WFRBS 2011-C4 G 5% 06/15/44
92936CBD0
45000.00000000
PA
USD
1771.62000000
0.000523856713
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
113725.00000000
PA
USD
19465.32000000
0.005755770745
Long
ABS-MBS
CORP
US
N
2
2035-06-15
Variable
0.09086120
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2016-BNK2
N/A
MORGAN STANLEY CAP I TR 2016-BNK2 3% 11/15/2049 144A
61690YAC6
2346000.00000000
PA
USD
1532507.84000000
0.453152775960
Long
ABS-MBS
CORP
US
N
2
2049-11-15
Fixed
0.03000000
N
N
N
N
N
N
SG COML MTG SECS TR 2019-PRES
N/A
SG COMMERCIAL MORTGAGE SECURITIES TRUST 2019-PREZ F CSTR 09/15/2039 144A
78430EAN5
2000000.00000000
PA
USD
1461178.00000000
0.432060998051
Long
ABS-MBS
CORP
US
N
2
2039-09-15
Variable
0.03477062
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP 6.875/VAR PERP PFD
00123Q609
80750.00000000
NS
USD
1856442.50000000
0.548938185063
Long
EP
CORP
US
N
1
N
N
N
HERSHA HOSPITALITY TR
549300DNC58BIN1VO064
HERSHA HOSPITALITY TR 6.5% PERP PFD
427825609
42250.00000000
NS
USD
821340.00000000
0.242864989850
Long
EP
CORP
US
N
1
N
N
N
MHC COML MTG TR 2021-MHC
N/A
MHC COML MTG TR 2021-MHC TSFR1M+271.544 096 04/15/2038 144A
55316VAL8
694000.00000000
PA
USD
671837.67000000
0.198658106150
Long
ABS-MBS
CORP
US
N
2
2038-04-15
Variable
0.07937442
N
N
N
N
N
N
BX TR 2019-OC11
N/A
BX TR 2019-OC11 4.075457% 12/09/2041 144A
05606FAN3
3666000.00000000
PA
USD
2937658.92000000
0.868646971765
Long
ABS-MBS
CORP
US
N
2
2041-12-09
Variable
0.03943990
N
N
N
N
N
N
MSJP 2015-HAUL
N/A
MSJP 2015-HAUL E 5.012% 09/05/2047 144A
553697AN3
1000000.00000000
PA
USD
648562.40000000
0.191775757534
Long
ABS-MBS
CORP
US
N
2
2047-09-05
Variable
0.04851000
N
N
N
N
N
N
DBUBS 2011 LC3
N/A
DBUBS 2011-LC3A D CSTR 8/44
23305YAM1
530448.39000000
PA
USD
457015.77000000
0.135136642976
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05359150
N
N
N
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 4.125% 02/01/2029 144A
44267DAE7
1000000.00000000
PA
USD
845010.00000000
0.249864057605
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
139300.00000000
NS
USD
3552150.00000000
1.050348057682
Long
EP
CORP
US
N
1
N
N
N
BRAEMAR HOTELS and RESORTS INC
549300JDUUEBN868C776
BRAEMAR HOTELS and RESORTS INC SER D 8.25% PFD PERP
10482B309
35150.00000000
NS
USD
797905.00000000
0.235935410093
Long
EP
CORP
US
N
1
N
N
N
SUNBELT MEZZ
N/A
SUNBELT MEZZ SOFR+445 01/21/2027
N/A
4575630.83000000
PA
USD
4575630.83000000
1.352984799336
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
1000000.00000000
PA
USD
965048.00000000
0.285358527193
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
51900.00000000
NS
USD
729195.00000000
0.215618302133
Long
EC
CORP
US
N
1
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSLVNA 7.375% PFD PERP
709102503
56533.00000000
NS
USD
60490.31000000
0.017886598149
Long
EP
CORP
US
N
1
N
N
N
MARRIOTT OWNERSHIP RESORTS INC
BW4532OH033VURR0IT68
MARRIOTT OWNERSHIP RESORTS INC 4.5% 06/15/2029 144A
57164PAH9
1570000.00000000
PA
USD
1361001.60000000
0.402439476672
Long
DBT
CORP
US
N
2
2029-06-15
Fixed
0.04500000
N
N
N
N
N
N
JPMDB COML MTG SECS TR 2018-C8
N/A
JPMDB COML MTG SECS TR 2018-C8 CSTR 06/15/2051 144A
46591AAG0
302000.00000000
PA
USD
178365.34000000
0.052741491329
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
11775.00000000
NS
USD
260816.25000000
0.077121698576
Long
EP
CORP
US
N
1
N
N
N
HOME PARTNERS AMER 2021-2 TR
N/A
HOME PARTNERS AMER 2021-2 TR 4.505% 12/17/2026 144A
43732VAN6
963784.44000000
PA
USD
809710.39000000
0.239426188483
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
58704.00000000
NS
USD
830661.60000000
0.245621327407
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
8269.00000000
NS
USD
174062.45000000
0.051469154251
Long
EP
CORP
US
N
1
N
N
N
SABRA HEALTH CARE LP
549300OVKLRFSIQG0H81
SABRA HEALTH CARE LP 5.125% 08/15/2026
14162VAB2
6615000.00000000
PA
USD
6372674.69000000
1.884359186094
Long
DBT
CORP
US
N
2
2026-08-15
Fixed
0.05125000
N
N
N
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HO SR D 8.45% PFD PERP
044103406
50274.00000000
NS
USD
832090.00000000
0.246043696160
Long
EP
CORP
US
N
1
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13
N/A
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13 D CSTR 11/15/2046 144A
61763BAC8
2994000.00000000
PA
USD
2802034.60000000
0.828543726945
Long
ABS-MBS
CORP
US
N
2
2046-11-15
Variable
0.04884348
N
N
N
N
N
N
SABRA HEALTH CARE REIT INC
549300E3BC7GU7TAZ621
SABRA HEALTHCARE REIT INC
78573L106
27100.00000000
NS
USD
352029.00000000
0.104092725925
Long
EC
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2020-NNN
N/A
JPMCC 2020-NNN FFX 4.6254% 01/16/2037 144A
46652BBN8
1406000.00000000
PA
USD
1032099.61000000
0.305185259828
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
669000.00000000
PA
USD
75594.59000000
0.022352837233
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
132575.00000000
NS
USD
2732370.75000000
0.807944571634
Long
EP
CORP
US
N
1
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC
22822V101
19600.00000000
NS
USD
2122484.00000000
0.627604956677
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
2515000.00000000
PA
USD
2218741.80000000
0.656067773075
Long
ABS-MBS
CORP
US
N
2
2038-11-05
Variable
0.04193500
N
N
N
N
N
N
SUNSTONE HOTEL INVS INC NEW
529900ZQ2V52V96ATF67
SUNSTONE HOTEL INVS INC
867892101
17100.00000000
NS
USD
174249.00000000
0.051524315894
Long
EC
CORP
US
N
1
N
N
N
VORNADO REALTY TRUST
N/A
VORNADO REALTY TRUST SER O 4.45% PERP PFD
929042794
45500.00000000
NS
USD
618345.00000000
0.182840665435
Long
EP
CORP
US
N
1
N
N
N
GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP
N/A
GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP 3.75% 12/15/2027 144A
37892AAA8
925000.00000000
PA
USD
738148.24000000
0.218265717992
Long
DBT
CORP
US
N
2
2027-12-15
Fixed
0.03750000
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
3460000.00000000
PA
USD
2406897.79000000
0.711704297050
Long
DBT
CORP
US
N
2
2029-02-15
Fixed
0.06500000
N
N
N
N
N
N
TIMES SQUARE HOTEL TR
N/A
TIMES SQUARE HOTEL TR 8.528% 08/01/2026 144A
887367AA8
968943.55070000
PA
USD
957464.28000000
0.283116069647
Long
DBT
CORP
US
N
2
2026-08-01
Fixed
0.08528000
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
2018000.00000000
PA
USD
1543291.73000000
0.456341503327
Long
ABS-MBS
CORP
US
N
2
2044-03-11
Variable
0.03548750
N
N
N
N
N
N
CREDIT SUISSE COM MTG TR 2021
N/A
CREDIT SUISSE COM MTG TR 2021-SOP2 F STEP 06/15/2034 144A
12657VAQ5
800000.00000000
PA
USD
561940.88000000
0.166162327559
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
859000.00000000
PA
USD
306247.16000000
0.090555328372
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
19400.00000000
NS
USD
688700.00000000
0.203644189385
Long
EC
CORP
US
N
1
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TRUST
74965L101
14700.00000000
NS
USD
151410.00000000
0.044770969529
Long
EC
CORP
US
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 4.6% 02/06/2024
756109BD5
1757000.00000000
PA
USD
1746803.00000000
0.516518485481
Long
DBT
CORP
US
N
2
2024-02-06
Fixed
0.04600000
N
N
N
N
N
N
PROGRESS RESIDENTIAL 2021
N/A
PROGRESS RESIDENTIAL 2021 4.998% 04/19/2038 144A
74333DAS3
1533000.00000000
PA
USD
1371119.80000000
0.405431363760
Long
ABS-CBDO
CORP
US
N
2
2038-04-19
Fixed
0.04998000
N
N
N
N
N
N
PROGRESS RESIDENTIAL 2019-SFR4 TR
N/A
PROGRESS RESIDENTIAL 2019-SFR4 TR 3.684% 10/17/2036 144A
74331AAL6
1000000.00000000
PA
USD
958533.90000000
0.283432349446
Long
ABS-CBDO
CORP
US
N
2
2036-10-17
Fixed
0.03684000
N
N
N
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER C 7.75/VAR PERP PFD
16934Q505
157066.00000000
NS
USD
3158597.26000000
0.933977027164
Long
EP
CORP
US
N
1
N
N
N
MID-AMERICA APT CMNTYS INC
549300FQZKFR5YNSHZ21
MID AMERICA APT CMNTY INC
59522J103
5214.00000000
NS
USD
780327.24000000
0.230737778779
Long
EC
CORP
US
N
1
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER 1 4% PFD PERP
29250N717
97425.00000000
NS
USD
2049822.00000000
0.606119267569
Long
EP
CORP
CA
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 4.875% 06/01/2026
756109BF0
1593000.00000000
PA
USD
1576130.21000000
0.466051632033
Long
DBT
CORP
US
N
2
2026-06-01
Fixed
0.04875000
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER E 6.5%/VAR PFD PERP
00123Q807
101950.00000000
NS
USD
2362181.50000000
0.698481975822
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TRUST 6.375% PERP PFD
70509V803
20200.00000000
NS
USD
395112.00000000
0.116832093736
Long
EP
CORP
US
N
1
N
N
N
FKH 2021-SFR1 F1
N/A
FKH 2021-SFR1 F1 3.238% 08/17/2038 144A
33767WAN3
1250000.00000000
PA
USD
1076633.13000000
0.318353537134
Long
ABS-CBDO
CORP
US
N
2
2038-08-17
Fixed
0.03238000
N
N
N
N
N
N
ANNALY CAPITAL MANAGEMENT INC
2DTL0G3FPRYUT58TI025
ANNALY CAPITAL MANAGEMENT INC SER I 6.75/VAR PFD PERP
035710847
40700.00000000
NS
USD
944240.00000000
0.279205734551
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2012-GCJ9
N/A
GS MTG SECS TR 2012-GCJ9 E CSTR 11/10/2045 144A
36192PAN6
355000.00000000
PA
USD
300573.10000000
0.088877545085
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
961000.00000000
PA
USD
237367.00000000
0.070187905186
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
42026478.95900000
NS
USD
42034884.25000000
12.42944668071
Long
STIV
RF
US
N
1
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT
02665T306
27300.00000000
NS
USD
1023204.00000000
0.302554884791
Long
EC
CORP
US
N
1
N
N
N
COMM 2012-CCRE2 MTG TR
N/A
COMM 2012-CR2 F 4.25% 8/45
12624KBA3
783000.00000000
PA
USD
552018.29000000
0.163228281099
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
7404.00000000
NS
USD
351393.84000000
0.103904913172
Long
EC
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2013-LC11
N/A
JP MORGAN CH CMS 13-LC11 D CSTR 04/15/2046
46639YAX5
1316000.00000000
PA
USD
817565.00000000
0.241748746471
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
61000.00000000
NS
USD
1137040.00000000
0.336215462609
Long
EP
CORP
US
N
1
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER B 8%/VAR PREF PERP
16934Q406
152358.00000000
NS
USD
3322927.98000000
0.982568571037
Long
EP
CORP
US
N
1
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LEXINGTON RLTY 6.5 CV PFD PERPPAR=50
529043309
70519.00000000
NS
USD
3314030.53000000
0.979937651925
Long
EP
CORP
US
N
2
N
N
N
SPIRIT REALTY CAPITAL INC
549300LTU6LVPZSHMJ25
SPIRIT RLTY CAP INC
84860W300
13900.00000000
NS
USD
560587.00000000
0.165761993894
Long
EC
CORP
US
N
1
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6% SER E PFD PERP
804395879
13475.00000000
NS
USD
306827.10000000
0.090726812924
Long
EP
CORP
US
N
1
N
N
N
COMM 2012-CCRE1 MTG TR
N/A
COMM 2012-CCRE1 G 2.462% 05/15/2045 144A
12624BAS5
1133000.00000000
PA
USD
331892.30000000
0.098138432404
Long
ABS-MBS
CORP
US
N
2
2045-05-15
Fixed
0.02462000
N
N
N
N
N
N
CTO NEWCO REIT INC
N/A
CTO REALTY GROWTH INC 6.375% PFD PERP
22948Q200
20000.00000000
NS
USD
395000.00000000
0.116798976052
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
34775.00000000
NS
USD
504237.50000000
0.149099806803
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
37050.00000000
NS
USD
853446.75000000
0.252358750671
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
1000000.00000000
PA
USD
952935.10000000
0.281776820061
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.09251980
N
N
N
N
N
N
RETAIL VALUE INC
549300VO5RB7323N1Z31
RETAIL VALUE INC (ESCROW LINE)
76133Q102
24066.00000000
NS
USD
2430.67000000
0.000718733587
Long
EC
CORP
US
N
3
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP
64828T300
77859.00000000
NS
USD
1761170.58000000
0.520766887082
Long
EP
CORP
US
N
1
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
819000.00000000
PA
USD
795088.15000000
0.235102485547
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
51175.00000000
NS
USD
1194936.25000000
0.353335013792
Long
EP
CORP
US
N
1
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TR SER A PC 1.95% PERP
74965L200
35550.00000000
NS
USD
863865.00000000
0.255439360626
Long
EP
CORP
US
N
2
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS IN SR Q 8.54% PFD PRP
74340W202
16850.00000000
NS
USD
973087.50000000
0.287735755973
Long
EP
CORP
US
N
1
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INVESTMENT COR CONV 6.25% 01/15/2026
90187BAB7
904000.00000000
PA
USD
809080.00000000
0.239239786188
Long
DBT
CORP
US
N
2
2026-01-15
Fixed
0.06250000
N
N
N
N
N
TWO HARBORS INVESTMENT COR
TWO HBRS INVT CORP
USD
XXXX
N
N
N
WP GLIMCHER MALL TR 15-WPG
N/A
JPMDB 2015-WPG PR2 CSTR 06/35
92939VAN4
459000.00000000
PA
USD
347855.54000000
0.102858660471
Long
ABS-MBS
CORP
US
N
2
2035-06-05
Variable
0.03516000
N
N
N
N
N
N
AGELLAN PORTFOLIO
N/A
AGELLAN PORTFOLIO 9% 08/07/2025
N/A
1217000.00000000
PA
USD
1217000.00000000
0.359859123685
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
135550.00000000
NS
USD
3312842.00000000
0.979586211198
Long
EP
CORP
US
N
2
N
N
N
ARBOR REALTY TRUST INC
549300ASFUWYQO0RW077
ARBOR REALTY TRUST INC SER D 6.375% PERP PFD
038923876
12400.00000000
NS
USD
236220.00000000
0.069848744615
Long
EP
CORP
US
N
1
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL INC
55272X607
31175.00000000
NS
USD
351030.50000000
0.103797475856
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
104505.00000000
NS
USD
2436011.55000000
0.720313049852
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
1693000.00000000
PA
USD
1601150.01000000
0.473449827023
Long
ABS-MBS
CORP
US
N
2
2034-06-15
Variable
0.03496600
N
N
N
N
N
N
COMM 2013-LC6 MTG TR
N/A
COMM 2013-LC6 E MTG TR 3.5% 01/10/2046 144A
20048EAG6
1299000.00000000
PA
USD
1039260.92000000
0.307302813436
Long
ABS-MBS
CORP
US
N
2
2046-01-10
Fixed
0.03500000
N
N
N
N
N
N
COMM 2012-CCRE1 MTG TR
N/A
COMM 2012-CR1 C CSTR 5/45
12624BAH9
3011000.00000000
PA
USD
2580427.00000000
0.763015775640
Long
ABS-MBS
CORP
US
N
2
2045-05-15
Variable
0.05301133
N
N
N
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 C 5.47 8/44
36191YAJ7
101000.00000000
PA
USD
70196.35000000
0.020756612158
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
139567.00000000
NS
USD
3151422.86000000
0.931855602927
Long
EP
CORP
US
N
1
N
N
N
ELLINGTON FINANCIAL INC
60GS1D1R1YY5G1W7IT74
ELLINGTON FINANCIAL INC 6.75/VAR PFD PERP
28852N208
72938.00000000
NS
USD
1617764.84000000
0.478362726090
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
145000.00000000
NS
USD
3045000.00000000
0.900387043239
Long
EP
CORP
US
N
1
N
N
N
SUN CMNTYS OPER LTD PRTNRSHP
549300PUNBPJCGT6X741
SUN CMNTYS OPER LTD PRTNRSHP 2.7% 07/15/2031
866677AE7
1000000.00000000
PA
USD
796284.48000000
0.235456232684
Long
DBT
CORP
US
N
2
2031-07-15
Fixed
0.02700000
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
239065.94000000
PA
USD
223915.30000000
0.066210323449
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.04944682
N
N
N
N
N
N
GLOBAL PARTNERS LP
549300PCHWTW9P4DU444
GLOBAL PARTNERS LP SER B 9.5% PERP PFD
37946R307
12200.00000000
NS
USD
312930.00000000
0.092531401458
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 E CSTR 8/44
36191YAN8
848000.00000000
PA
USD
79073.80000000
0.023381617398
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
1090000.00000000
PA
USD
896831.89000000
0.265187459349
Long
DBT
CORP
US
N
2
2031-02-01
Fixed
0.04375000
N
N
N
N
N
N
PROVIDENCE PLACE GROUP LTD PARTNERSHIP
N/A
PPGLP 2000-C1 A2 7.75% 7/28
743784AB6
769495.01010000
PA
USD
775034.45000000
0.229172734595
Long
ABS-MBS
CORP
US
N
2
2028-07-20
Fixed
0.07750000
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC 7.15% SER I PERP PFD
25401T405
225785.00000000
NS
USD
4777610.60000000
1.412708926727
Long
EP
CORP
US
N
1
N
N
N
AG MORTGAGE INVESTMENT TR INC
549300SNP0PBR2XTFR48
AG MTG INVT 8% PFD PRP
001228303
14024.00000000
NS
USD
232798.40000000
0.068836999358
Long
EP
CORP
US
N
1
N
N
N
EQUITY LIFESTYLE PROPERTIES INC
529900PEQG66LENB6798
EQUITY LIFESTYLE PPTYS INC
29472R108
17200.00000000
NS
USD
1224296.00000000
0.362016504266
Long
EC
CORP
US
N
1
N
N
N
Fidelity Revere Street Trust
549300BDV45LJNXBZC55
Fidelity Securities Lending Cash Central Fund
31635A303
37696.23500000
NS
USD
37700.00000000
0.011147649106
Long
STIV
RF
US
N
1
N
N
GLADSTONE LAND CORP
54930002B3Q17H38FG74
GLADSTONE LAND CORP SER D 5% PFD 01/31/26
376549507
60000.00000000
NS
USD
1413006.00000000
0.417816845458
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
2045000.00000000
PA
USD
1601136.43000000
0.473445811504
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
1766000.00000000
PA
USD
1147066.62000000
0.339180270075
Long
ABS-MBS
CORP
US
N
2
2050-06-15
Variable
0.04434277
N
N
N
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13
N/A
MSBAM 2013-C13 E CSTR 11/15/46 144A
61763BAE4
659000.00000000
PA
USD
588930.18000000
0.174142891114
Long
ABS-MBS
CORP
US
N
2
2046-11-15
Variable
0.04884348
N
N
N
N
N
N
UBS COML MTG TR 2012-C1
N/A
UBSCM 2012-C1 E CSTR 05/45
90269GAQ4
955843.83000000
PA
USD
635636.15000000
0.187953548004
Long
ABS-MBS
CORP
US
N
3
2045-05-10
Variable
0.05000000
N
N
N
N
N
N
SBA COMMUNICATIONS CORP
5299001HX8ZN8Y8QIT49
SBA COMMUNICATIONS CORP 3.125% 02/01/2029
78410GAG9
1000000.00000000
PA
USD
843098.10000000
0.249298720991
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
18925.00000000
NS
USD
448144.00000000
0.132513317276
Long
EP
CORP
US
N
1
N
N
N
CLEAR CHANNEL OUTDOOR HOLDINGS INC
N/A
CLEAR CHANNEL OUTDOOR HOLDINGS INC 7.75% 04/15/2028 144A
18453HAC0
1555000.00000000
PA
USD
1300337.65000000
0.384501534284
Long
DBT
CORP
US
N
2
2028-04-15
Fixed
0.07750000
N
N
N
N
N
N
TPGI 2021-DGWD G
N/A
TPGI 2021-DGWD G TSFR1M+396.448 06/15/2026 144A
87267HAU1
986641.24000000
PA
USD
947336.61000000
0.280121382341
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
6500.00000000
NS
USD
1583075.00000000
0.468105162061
Long
EC
CORP
US
N
1
N
N
N
SOTHERLY HOTELS INC
549300IYTT21F61LSR10
SOTHERLY HOTELS INC SER B 8% PERP PFD
83600C301
12750.00000000
NS
USD
308550.00000000
0.091236263445
Long
EP
CORP
US
N
1
N
N
N
CYXTERA TECHNOLOGIES INC
N/A
CYXTERA TECHNOLOGIES INC A
23284C102
37800.00000000
NS
USD
2120.58000000
0.000627041956
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
522000.00000000
PA
USD
236835.94000000
0.070030874137
Long
ABS-MBS
CORP
US
N
2
2049-09-15
Fixed
0.03000000
N
N
N
N
N
N
M/I HOMES INC
5299005M71FH9CCSFB69
M/I HOMES INC 3.95% 02/15/2030
55305BAV3
1430000.00000000
PA
USD
1236950.00000000
0.365758211210
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
23033804.53860000
PA
USD
76875.32000000
0.022731540910
Long
ABS-MBS
CORP
US
N
2
2044-06-15
Variable
0.00451788
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC 7.125% SER J PFD PERP
25401T306
178749.00000000
NS
USD
3794841.27000000
1.122110315487
Long
EP
CORP
US
N
1
N
N
N
GREAT AJAX CORP
5493004ID2QQWNGDYC18
GREAT AJAX CORP
38983D300
30592.00000000
NS
USD
211084.80000000
0.062416426582
Long
EC
CORP
US
N
1
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2020-VIVA
N/A
BX COML MTG TR 2020-VIVA CSTR 03/09/2044 144A
12433XAG4
1505000.00000000
PA
USD
1193251.44000000
0.352836826240
Long
ABS-MBS
CORP
US
N
2
2044-03-11
Variable
0.03548750
N
N
N
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HOSPITALITY TRUST INC SER I 7.5% PFD PERP
044103885
27311.00000000
NS
USD
397101.94000000
0.117420506279
Long
EP
CORP
US
N
1
N
N
N
AMERICAN HOMES 4 RENT LP
549300N4PXZ37U8QKI55
AMERICAN HOMES 4 RENT LP 4.25% 02/15/2028
02666TAA5
2000000.00000000
PA
USD
1899067.62000000
0.561542160684
Long
DBT
CORP
US
N
2
2028-02-15
Fixed
0.04250000
N
N
N
N
N
N
MPT OPER PARTNERSHIP LP / MPT FIN CORP
N/A
MPT OPER PARTNERSHIP LP/CORP 4.625% 08/01/2029
55342UAJ3
1506000.00000000
PA
USD
1196232.06000000
0.353718176529
Long
DBT
CORP
US
N
2
2029-08-01
Fixed
0.04625000
N
N
N
N
N
N
BROOKFIELD PROPERTY PARTNERS LP
5493004J5Z0TZW83NU62
BROOKFIELD PROPERTY PARTN LP 6.5% PERP PFD
N/A
5875.00000000
NS
USD
90533.75000000
0.026770251387
Long
EP
CORP
BM
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C3
N/A
MORGAN STANLEY CAP I TR 2011-C3 F CSTR 07/15/2049 144A
61760RAQ5
636000.00000000
PA
USD
542719.53000000
0.160478697183
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.04944682
N
N
N
N
N
N
CBL and ASSOCS LTD PARTNERSHIP
549300VS75TWHD9JTH89
CBL and ASSOCS LP 5.95% 12/15/2026
12505JAD5
2551000.00000000
PA
USD
0.26000000
0.000000076880
Long
DBT
CORP
US
N
3
2026-12-15
Fixed
0.05950000
Y
Y
N
N
N
N
HEALTHCARE TRUST INC
549300Z2NSUGF5NF2Y30
HEALTHCARE TRUST INC SER A 7.375% PFD PERP
42226B204
33000.00000000
NS
USD
593670.00000000
0.175544425602
Long
EP
CORP
US
N
1
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP SER D 7%/VAR PFD PERP
64828T706
17100.00000000
NS
USD
365085.00000000
0.107953301701
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
7578870.00000000
PA
USD
7039254.46000000
2.081462564811
Long
LON
CORP
US
N
3
2024-01-09
Variable
0.10221640
N
N
N
N
N
N
COMM 2012-CCRE2 MTG TR
N/A
COMM 2012-CR2 D CSTR 8/45
12624KAW6
236019.61000000
PA
USD
224231.23000000
0.066303741931
Long
ABS-MBS
CORP
US
N
2
2045-08-15
Variable
0.04873755
N
N
N
N
N
N
BSREP COML MTG TR 2021-DC
N/A
BSREP COML MTG TR 2021-DC TSFR1M+396.448 08/15/2038 144A
05591UAN7
250000.00000000
PA
USD
191378.33000000
0.056589349323
Long
ABS-MBS
CORP
US
N
2
2038-08-15
Variable
0.09186480
N
N
N
N
N
N
BENCHMARK 2022-B35 MTG TR
N/A
BENCHMARK 2022-B35 MTG TR 2.5% 05/15/2055 144A
08163RAS5
1000000.00000000
PA
USD
489425.40000000
0.144719963478
Long
ABS-MBS
CORP
US
N
2
2055-05-15
Fixed
0.02500000
N
N
N
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HOSPITALITY TRUST INC SER G 7.375% PFD PERP
044103703
9129.00000000
NS
USD
139217.25000000
0.041165651262
Long
EP
CORP
US
N
1
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
1000000.00000000
PA
USD
994020.19000000
0.293925418651
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
625000.00000000
PA
USD
512507.88000000
0.151545305323
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
1040000.00000000
PA
USD
687700.00000000
0.203348495775
Long
DBT
CORP
US
N
2
2030-01-15
Fixed
0.06000000
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
1624000.00000000
PA
USD
1601499.80000000
0.473553257691
Long
ABS-CBDO
CORP
US
N
2
2052-10-17
Fixed
0.06070000
N
N
N
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 3.1% 12/15/2029
756109BK9
1000000.00000000
PA
USD
886488.52000000
0.262128990932
Long
DBT
CORP
US
N
2
2029-12-15
Fixed
0.03100000
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP
03027X100
19200.00000000
NS
USD
3653952.00000000
1.080450258594
Long
EC
CORP
US
N
1
N
N
N
JPMBB COML MTG SECS TR 2014-C23
N/A
JPMBB 2014-C23 UH5 4.7094% 09/15/2047 144A
46643AAQ6
1624000.00000000
PA
USD
1223429.36000000
0.361760244355
Long
ABS-MBS
CORP
US
N
2
2047-09-15
Fixed
0.04709400
N
N
N
N
N
N
GLP CAP LP / GLP FING II INC
N/A
GLP CAP LP / GLP FING II INC 5.25% 06/01/2025
361841AJ8
2375000.00000000
PA
USD
2337381.90000000
0.691148892565
Long
DBT
CORP
US
N
2
2025-06-01
Fixed
0.05250000
N
N
N
N
N
N
FRANKLIN BSP REALTY TRUST INC/DUPE
549300LH3QNZK9Y1KC93
FRANKLIN BSP RE 7.5% PFD PERP
35243J200
13216.00000000
NS
USD
268549.12000000
0.079408258824
Long
EP
CORP
US
N
1
N
N
N
MPT OPER PARTNERSHIP LP / MPT FIN CORP
N/A
MPT OPER PARTNERSHIP LP/CORP 5% 10/15/2027
55342UAH7
4237000.00000000
PA
USD
3711700.98000000
1.097526262979
Long
DBT
CORP
US
N
2
2027-10-15
Fixed
0.05000000
N
N
N
N
N
N
CHERRY HILL MORTGAGE INVESTMENT CORP
N/A
CHERRY HILL MTG INVT CORP 8.2% SER A PFD PERP
164651200
16350.00000000
NS
USD
354304.50000000
0.104765576736
Long
EP
CORP
US
N
1
N
N
N
SITE CENTERS CORP
W2AVA6SODOQ1LCYJQR54
SITE CENTERS CORP 6.375% 12/31/99 PFD PERP
82981J877
15100.00000000
NS
USD
363910.00000000
0.107605861709
Long
EP
CORP
US
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C2
3IFG42XD94UUZ7FL2766
MSC 2011-C2 D CSTR 6/44
617459AJ1
1372392.75000000
PA
USD
1244435.24000000
0.367971548849
Long
ABS-MBS
CORP
US
N
2
2044-06-15
Variable
0.05211300
N
N
N
N
N
N
FIRSTKEY HOMES 2021-SFR2 TR
N/A
FIRSTKEY HOMES 2021-SFR2 TR 2.908% 09/17/2038 144A
33767TAN0
500000.00000000
PA
USD
424608.20000000
0.125553931603
Long
ABS-CBDO
CORP
US
N
2
2038-09-17
Fixed
0.02908000
N
N
N
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 5.25% 01/15/2026
681936BH2
22000.00000000
PA
USD
21474.62000000
0.006349907916
Long
DBT
CORP
US
N
2
2026-01-15
Fixed
0.05250000
N
N
N
N
N
N
SUNSTONE HOTEL INVS INC NEW
529900ZQ2V52V96ATF67
SUNSTONE HOTEL INVS INC SER H 6.125% PFD PERP
867892804
20000.00000000
NS
USD
433200.00000000
0.128094471964
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
483000.00000000
PA
USD
456784.88000000
0.135068370279
Long
DBT
CORP
US
N
2
2027-04-01
Fixed
0.04500000
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC SER H 7.125% PERP PFD
25401T504
128110.00000000
NS
USD
2737710.70000000
0.809523560728
Long
EP
CORP
US
N
1
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS INC REIT
74340W103
14820.00000000
NS
USD
1848795.00000000
0.546676868179
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
0.494054168800
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
1057000.00000000
PA
USD
868485.32000000
0.256805559728
Long
ABS-MBS
CORP
US
N
2
2037-08-15
Variable
0.03704200
N
N
N
N
N
N
DIAMONDROCK HOSPITALITY CO
529900KKD4BPVBUAQ734
DIAMONDROCK HOSPITALITY CO 8.25% PFD PERP
252784400
34900.00000000
NS
USD
897279.00000000
0.265319666919
Long
EP
CORP
US
N
1
N
N
N
AVALONBAY COMMUNITIES INC
K9G90K85RBWD2LAGQX17
AVALONBAY COMMUNITIES INC REIT
053484101
4800.00000000
NS
USD
905520.00000000
0.267756477962
Long
EC
CORP
US
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C2
3IFG42XD94UUZ7FL2766
MSC 2011-C2 F CSTR 6/44
617459AL6
1467000.00000000
PA
USD
560046.61000000
0.165602204024
Long
ABS-MBS
CORP
US
N
3
2044-06-15
Variable
0.05211300
N
N
N
N
N
N
JPMCC 2021-1
N/A
JPMCC 2021-1MEM E CSTR 10/09/2042 144A
46654BAL1
500000.00000000
PA
USD
273488.65000000
0.080868846283
Long
ABS-MBS
CORP
US
N
2
2042-10-09
Variable
0.02653530
N
N
N
N
N
N
LAMAR ADVERTISING CO
529900Y8WW4MKVPTB543
LAMAR ADVERTISING CO CL A
512816109
7600.00000000
NS
USD
750120.00000000
0.221805690927
Long
EC
CORP
US
N
1
N
N
N
CSMC 2020-NET
N/A
CSMC 2020-NET VAR 08/15/2037 144A
126438AL4
500000.00000000
PA
USD
424765.35000000
0.125600399854
Long
ABS-MBS
CORP
US
N
2
2037-08-15
Variable
0.03704200
N
N
N
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR REALTY TRUST INC SER C 6.50% PFD PERP
150602506
53500.00000000
NS
USD
791265.00000000
0.233972004521
Long
EP
CORP
US
N
1
N
N
N
2023-08-30
Stacie M. Smith
Stacie M. Smith
Stacie M. Smith
President and Treasurer