0001752724-24-072051.txt : 20240327
0001752724-24-072051.hdr.sgml : 20240327
20240327162729
ACCESSION NUMBER: 0001752724-24-072051
CONFORMED SUBMISSION TYPE: NPORT-P
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240131
FILED AS OF DATE: 20240327
DATE AS OF CHANGE: 20240327
PERIOD START: 20240731
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: FIDELITY SECURITIES FUND
CENTRAL INDEX KEY: 0000754510
ORGANIZATION NAME:
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: 24791157
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
XXXXXXXX
S000031548
C000098199
Fidelity Securities Fund
811-04118
0000754510
LIUMB3NDWOFJPXVROE85
245 Summer Street
Boston
02210
1-800-FIDELITY
Fidelity Series Real Estate Income Fund
S000031548
549300CKO1IALL8IIC86
2024-07-31
2024-01-31
N
252495472.99
42764.40
252452708.59
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
0.00000000
USD
N
EXTRA SPACE STORAGE LP
549300YNKSKNZFR8UC42
EXTRA SPACE STORAGE LP 5.4% 02/01/2034
30225VAS6
1000000.00000000
PA
USD
999787.91000000
0.396029781412
Long
DBT
CORP
US
N
2
2034-02-01
Fixed
0.05400000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C3
N/A
JPMCC 2011-C3 G CSTR 02/15/2046 144A
46635TBK7
1680000.00000000
PA
USD
193166.40000000
0.076515875420
Long
ABS-MBS
CORP
US
N
2
2046-02-15
Variable
0.04409000
N
N
N
N
N
N
SERITAGE GROWTH PPTYS
5493003CJFC2MM82WB25
SERITAGE GROWTH PPTYS SER A 7% PERP PFD
81752R308
1050.00000000
NS
USD
25567.50000000
0.010127639407
Long
EP
CORP
US
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 5.625% 10/13/2032
756109BP8
1000000.00000000
PA
USD
1037852.98000000
0.411107880678
Long
DBT
CORP
US
N
2
2032-10-13
Fixed
0.05625000
N
N
N
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
47880.00000000
0.018965928417
Long
ABS-MBS
CORP
US
N
2
2045-05-10
Variable
0.05000000
N
N
N
N
N
N
CUBESMART LP
549300MPHKO3I3FJRA97
CUBESMART LP 4.375% 02/15/2029
22966RAE6
1000000.00000000
PA
USD
973100.69000000
0.385458605469
Long
DBT
CORP
US
N
2
2029-02-15
Fixed
0.04375000
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
4147.89000000
0.001643036441
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
340196.50000000
0.134756526044
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
1720511.69000000
0.681518411749
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
355000.00000000
PA
USD
340094.44000000
0.134716098670
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
480120.00000000
0.190182154385
Long
ABS-MBS
CORP
US
N
2
2045-11-15
Variable
0.04572469
N
N
N
N
N
N
PROLOGIS LP
GL16H1DHB0QSHP25F723
PROLOGIS LP 4.875% 06/15/2028
74340XCG4
1000000.00000000
PA
USD
1013534.94000000
0.401475169611
Long
DBT
CORP
US
N
2
2028-06-15
Fixed
0.04875000
N
N
N
N
N
N
CENTURY CMNTYS INC
5299002QMB2O7ZL1CA26
CENTURY COMMUNITIES INC 6.75% 06/01/2027
156504AL6
1330000.00000000
PA
USD
1339896.53000000
0.530751496976
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
448666.51000000
0.177722993152
Long
DBT
CORP
US
N
2
2026-10-01
Fixed
0.04250000
N
N
N
N
N
N
SAFEHOLD OPERATING PARTNERSHIP LP
54930012UY5Z4Q8NL108
SAFEHOLD OPERATING PARTNERSHIP LP 2.8% 06/15/2031
78646UAA7
500000.00000000
PA
USD
416135.93000000
0.164837181713
Long
DBT
CORP
US
N
2
2031-06-15
Fixed
0.02800000
N
N
N
N
N
N
WILLIAMS SCOTSMAN INC
549300DAKDS8SCO1OT57
WILLIAMS SCOTSMAN INC 4.625% 08/15/2028 144A
96950GAE2
750000.00000000
PA
USD
709931.25000000
0.281213560339
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
20446.00000000
NS
USD
448176.32000000
0.177528822131
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
781375.00000000
0.309513415151
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
23034.55000000
0.009124302974
Long
ABS-MBS
CORP
US
N
2
2050-09-10
Fixed
0.03000000
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
657713.15000000
0.260529250675
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
750247.11000000
0.297183228569
Long
DBT
CORP
US
N
2
2025-08-15
Fixed
0.06375000
N
N
N
N
N
N
UMH PPTYS INC
529900OM5K3PJ11F0Q09
UMH PPTYS INC 6.75% SER D PFD PERP
903002509
63875.00000000
NS
USD
1469125.00000000
0.581940676416
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
2141735.00000000
0.848370774852
Long
EP
CORP
US
N
1
N
N
N
EG GLOBAL FINANCE PLC
549300TL8Q5207VYET27
EG GLOBAL FINANCE PLC 12% 11/30/2028 144A
28228PAC5
750000.00000000
PA
USD
792735.00000000
0.314013267842
Long
DBT
CORP
GB
N
2
2028-11-30
Fixed
0.12000000
N
N
N
N
N
N
SAFEHOLD OPERATING PARTNERSHIP LP
54930012UY5Z4Q8NL108
SAFEHOLD OPERATING PARTNERSHIP LP 2.85% 01/15/2032
78646UAB5
1250000.00000000
PA
USD
1031506.25000000
0.408593853383
Long
DBT
CORP
US
N
2
2032-01-15
Fixed
0.02850000
N
N
N
N
N
N
CBL and ASSOCS LTD PARTNERSHIP
549300VS75TWHD9JTH89
CBL and ASSOCS LP 5.25% 12/31/2049
12505JAA1
3629000.00000000
PA
USD
0.36000000
0.000000142600
Long
DBT
CORP
US
N
3
2049-12-31
Fixed
0.05250000
Y
Y
N
N
N
N
VICI PROPERTIES LP
254900X4QE7SGKQLLN38
VICI PROPERTIES LP 5.125% 05/15/2032
925650AD5
1000000.00000000
PA
USD
955628.50000000
0.378537630012
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
843915.79000000
PA
USD
234186.63000000
0.092764554323
Long
ABS-MBS
CORP
US
N
2
2044-03-15
Variable
0.06049660
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
881416.68020000
PA
USD
8.81000000
0.000003489762
Long
ABS-CBDO
CORP
US
N
3
2052-10-17
Variable
0.00000000
N
N
N
N
N
N
AGREE LP
549300DXY3G299V1BO77
AGREE LP 2.9% 10/01/2030
008513AA1
500000.00000000
PA
USD
432223.09000000
0.171209527683
Long
DBT
CORP
US
N
2
2030-10-01
Fixed
0.02900000
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
43271.32000000
PA
USD
36969.72000000
0.014644216022
Long
ABS-MBS
CORP
US
N
3
2045-05-15
Variable
0.04141499
N
N
N
N
N
N
OPG TR 2021-PORT
N/A
OPG TR 2021-PORT TSFR1M+346.048 6 10/15/2036 144A
67118AAU9
329176.57910000
PA
USD
306229.48000000
0.121301720908
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.08794480
N
N
N
N
N
N
WP CAREY INC
54930042CRNE713E3Q67
WP CAREY INC 4% 02/01/2025
92936UAC3
422000.00000000
PA
USD
415673.01000000
0.164653812716
Long
DBT
CORP
US
N
2
2025-02-01
Fixed
0.04000000
N
N
N
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
240000.23000000
0.095067401471
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.08198480
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
1462889.69000000
0.579470784120
Long
ABS-MBS
CORP
US
N
2
2038-10-15
Variable
0.08713255
N
N
N
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER F 6.3% PERP PFD
70509V704
37902.00000000
NS
USD
807691.62000000
0.319937791323
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
31212.52000000
0.012363709692
Long
ABS-MBS
CORP
US
N
3
2045-03-15
Variable
0.04189564
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
2253.64000000
0.000892697888
Long
ABS-MBS
CORP
US
N
3
2027-06-10
Variable
0.03931420
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
356121.47000000
0.141064626317
Long
ABS-MBS
CORP
US
N
2
2033-09-15
Variable
0.08679010
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
877607.50000000
0.347632435754
Long
EP
CORP
US
N
1
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 5.1% 05/01/2033
22822VBC4
2000000.00000000
PA
USD
1975507.12000000
0.782525618771
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
41635.00000000
NS
USD
934705.75000000
0.370249840146
Long
EP
CORP
US
N
1
N
N
N
PROLOGIS LP
GL16H1DHB0QSHP25F723
PROLOGIS LP 5.125% 01/15/2034
74340XCH2
1000000.00000000
PA
USD
1015638.18000000
0.402308291985
Long
DBT
CORP
US
N
2
2034-01-15
Fixed
0.05125000
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
500000.00000000
PA
USD
311714.95000000
0.123474591237
Long
ABS-MBS
CORP
US
N
3
2038-07-15
Variable
0.09798480
N
N
N
N
N
N
HEALTHCARE TRUST INC
549300Z2NSUGF5NF2Y30
HEALTHCARE TRUST INC 7.125% PERP PFD
42226B303
40300.00000000
NS
USD
612157.00000000
0.242483831296
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
683707.50000000
0.270825971255
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.08683160
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
902517.96000000
0.357499812555
Long
ABS-MBS
CORP
US
N
2
2038-06-15
Variable
0.08248480
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
365409.48000000
0.144743735189
Long
EP
CORP
US
N
1
N
N
N
SUN CMNTYS OPER LTD PRTNRSHP
549300PUNBPJCGT6X741
SUN CMNTYS OPER LTD PRTNRSHP 5.5% 01/15/2029
866677AK3
1000000.00000000
PA
USD
1009555.70000000
0.399898937760
Long
DBT
CORP
US
N
2
2029-01-15
Fixed
0.05500000
N
N
N
N
N
N
AGREE REALTY CORP
N/A
AGREE REALTY CORP 4.375% PERP PFD
008492209
38700.00000000
NS
USD
718659.00000000
0.284670742498
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
656232.59000000
0.259942780438
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
892790.36000000
0.353646576020
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
373262.00000000
0.147854226672
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
1438839.67000000
0.569944239472
Long
ABS-MBS
CORP
US
N
3
2046-02-15
Variable
0.05709680
N
N
N
N
N
N
KENNEDY-WILSON INC
5EA4464UK7FM5QNNKL62
KENNEDY-WILSON INC 4.75% 02/01/2030
489399AN5
1755000.00000000
PA
USD
1425253.05000000
0.564562391887
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
408139.58000000
0.161669717183
Long
ABS-MBS
CORP
US
N
3
2049-08-15
Fixed
0.03000000
N
N
N
N
N
N
BROOKFIELD PROPERTY PARTNERS LP
5493004J5Z0TZW83NU62
BROOKFIELD PROPERTY PARTN LP 5.75% PFD PERP
N/A
7000.00000000
NS
USD
81340.00000000
0.032219895937
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
977512.00000000
0.387205986206
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% 12/26/2070 144A
74167UAE7
250000.00000000
PA
USD
195325.00000000
0.077370926654
Long
ABS-MBS
CORP
US
N
2
2070-12-26
Fixed
0.03000000
N
N
N
N
N
N
GLOBAL MEDICAL REIT INC
549300HFRIPQDYU3GU60
GLOBAL MEDICAL REIT INC SER A 7.5% PFD PERP
37957W203
27461.00000000
NS
USD
678286.70000000
0.268678717605
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
29884.00000000
0.011837464595
Long
ABS-MBS
CORP
US
N
2
2046-04-15
Variable
0.03250000
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INV CORP 7.625% SER B PFD PERP
90187B309
89612.00000000
NS
USD
1955333.84000000
0.774534704309
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
863030.00000000
0.341858086934
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
22900.00000000
NS
USD
326783.00000000
0.129443253679
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
2000000.00000000
PA
USD
1644007.60000000
0.651214086464
Long
DBT
CORP
US
N
2
2031-07-15
Fixed
0.02375000
N
N
N
N
N
N
GLADSTONE COMMERCIAL CORP
529900EVVV534W8R0T32
GLADSTONE COMMERCIAL CORP SER G 6% PFD PERP
376536884
64500.00000000
NS
USD
1247172.00000000
0.494022031677
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
709689.66000000
PA
USD
697270.45000000
0.276198442826
Long
ABS-MBS
CORP
US
N
2
2038-04-15
Variable
0.08648442
N
N
N
N
N
N
REXFORD INDUSTRIAL REALTY LP
549300028US163ELJN70
REXFORD INDUSTRIAL REALTY LP 2.15% 09/01/2031
76169XAB0
500000.00000000
PA
USD
402168.10000000
0.159304331589
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
1825.00000000
NS
USD
48141.31000000
0.019069436913
Long
EP
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
282289.61000000
0.111818808194
Long
ABS-MBS
CORP
US
N
2
2033-09-15
Variable
0.10685337
N
N
N
N
N
N
PENNYMAC CORP
EWN0I878407TKQNXZ933
PENNYMAC CORP CONV 5.5% 11/01/2024
70932AAD5
1294000.00000000
PA
USD
1258415.00000000
0.498475539053
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
1462248.92000000
0.579216966285
Long
ABS-MBS
CORP
US
N
2
2030-06-10
Variable
0.04379267
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
11625.08000000
0.004604854534
Long
ABS-MBS
CORP
US
N
2
2062-12-15
Variable
0.03404110
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP 7/VAR PFD PERP
00123Q500
41899.00000000
NS
USD
1071776.42000000
0.424545423174
Long
EP
CORP
US
N
1
N
N
N
NATIONAL STORAGE AFFILIATES TRUST
529900FS06O8GOYNR108
NATIONAL STORAGE AFFILIATES SER A 6% PFD PERP
637870205
12325.00000000
NS
USD
289267.75000000
0.114582945699
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
1214199.04000000
0.480960987418
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.09648000
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
11828.58000000
0.004685463691
Long
EP
CORP
US
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 3.4% 01/15/2030
756109CC6
500000.00000000
PA
USD
460470.94000000
0.182398890695
Long
DBT
CORP
US
N
2
2030-01-15
Fixed
0.03400000
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
1592900.00000000
PA
USD
1548244.32000000
0.613280930375
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.08097640
N
N
N
N
N
N
INVITATION HOMES OPERATING PARTNERSHIP LP
549300147YMUQB3GW319
INVITATION HOMES OPERATING PARTNERSHIP LP 4.15% 04/15/2032
46188BAD4
1000000.00000000
PA
USD
917861.40000000
0.363577560774
Long
DBT
CORP
US
N
2
2032-04-15
Fixed
0.04150000
N
N
N
N
N
N
NNN REIT INC
5493008JKH5SOTI0JS97
NNN REIT INC 5.6% 10/15/2033
637417AS5
634000.00000000
PA
USD
648472.44000000
0.256868877985
Long
DBT
CORP
US
N
2
2033-10-15
Fixed
0.05600000
N
N
N
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER E 6.375% PERP PFD
70509V605
45192.00000000
NS
USD
963046.04000000
0.381475819918
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
1569788.22000000
0.621814766324
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
2000000.00000000
PA
USD
1628080.34000000
0.644905079091
Long
DBT
CORP
US
N
2
2031-04-01
Fixed
0.02100000
N
N
N
N
N
N
WILLIAMS SCOTSMAN INC
549300DAKDS8SCO1OT57
WILLIAMS SCOTSMAN INC 6.125% 06/15/2025 144A
71953LAA9
648000.00000000
PA
USD
646380.00000000
0.256040033640
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
213000.00000000
PA
USD
139425.69000000
0.055228438933
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
16249.00000000
NS
USD
335704.34000000
0.132977119506
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
500000.00000000
PA
USD
449403.45000000
0.178014905250
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
1320000.00000000
PA
USD
91258.20000000
0.036148631761
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
425539.46000000
PA
USD
332546.15000000
0.131726116886
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
45925.00000000
NS
USD
962128.75000000
0.381112468697
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
979452.10000000
0.387974486576
Long
ABS-MBS
CORP
US
N
2
2035-06-05
Variable
0.03633200
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
1302066.22000000
0.515766389385
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
1322255.57000000
PA
USD
1133878.05000000
0.449144735397
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
665280.37000000
0.263526730893
Long
ABS-MBS
CORP
US
N
2
2050-11-15
Fixed
0.02800000
N
N
N
N
N
N
GLP CAP LP / GLP FING II INC
N/A
GLP CAP LP / GLP FING II INC 4% 01/15/2031
361841AQ2
1000000.00000000
PA
USD
889693.30000000
0.352419787836
Long
DBT
CORP
US
N
2
2031-01-15
Fixed
0.04000000
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
791035.61000000
0.313340116023
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
774000.00000000
0.306592075926
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
260991.00000000
0.103382134997
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
3095000.00000000
PA
USD
2928860.40000000
1.160162002760
Long
DBT
CORP
US
N
2
2029-12-01
Fixed
0.04625000
N
N
N
N
N
N
REGENCY CENTERS CORP(REIT)
529900053A7X7FJ97S58
REGENCY CENTERS CORP(REIT) 5.875% PERP PFD
758849871
28775.00000000
NS
USD
715634.25000000
0.283472597302
Long
EP
CORP
US
N
1
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
842463.40000000
0.333711372995
Long
ABS-MBS
CORP
US
N
2
2051-10-15
Variable
0.04797005
N
N
N
N
N
N
REGENCY CENTERS CORP(REIT)
529900053A7X7FJ97S58
REGENCY CENTERS CORP REIT SER A 6.25% PFD PERP
758849889
51175.00000000
NS
USD
1275281.00000000
0.505156394289
Long
EP
CORP
US
N
1
N
N
N
BRIXMOR OPERATING PARTNERSHIP LP
549300CJHBL7JBUA6503
BRIXMOR OPERATING PARTNERSHIP LP 4.125% 05/15/2029
11120VAH6
138000.00000000
PA
USD
131035.30000000
0.051904889724
Long
DBT
CORP
US
N
2
2029-05-15
Fixed
0.04125000
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2011-C3
N/A
MSC 2011-C3 G CSTR 07/49
61760RAS1
979600.00000000
PA
USD
835166.70000000
0.330821049480
Long
ABS-MBS
CORP
US
N
3
2049-07-15
Variable
0.05108652
N
N
N
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR RLTY TR I 7.25% PFD PERP
150602407
28556.00000000
NS
USD
417203.16000000
0.165259926237
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
1760000.00000000
PA
USD
1603905.60000000
0.635329131130
Long
DBT
CORP
US
N
2
2028-06-30
Fixed
0.03875000
N
N
N
N
N
N
UDR INC
P3CH2EG5X6Z1XWU1OO74
UDR INC 3% 08/15/2031
90265EAR1
500000.00000000
PA
USD
435677.00000000
0.172577669074
Long
DBT
CORP
US
N
2
2031-08-15
Fixed
0.03000000
N
N
N
N
N
N
CENTERSPACE
5493002LG2SH9EEHT720
CENTERSPACE 6.625% SER C PFD PERP
15202L206
57700.00000000
NS
USD
1410188.00000000
0.558594917787
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
101404.55000000
PA
USD
67820.19000000
0.026864512715
Long
ABS-MBS
CORP
US
N
2
2038-08-15
Variable
0.08298480
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
799648.27000000
PA
USD
707688.72000000
0.280325263275
Long
ABS-MBS
CORP
US
N
2
2045-06-15
Variable
0.04845904
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
200246.64000000
0.079320456143
Long
DBT
CORP
US
N
2
2027-06-15
Fixed
0.05875000
N
N
N
N
N
N
EXTRA SPACE STORAGE LP
549300YNKSKNZFR8UC42
EXTRA SPACE STORAGE LP 5.5% 07/01/2030
30225VAK3
1000000.00000000
PA
USD
1022649.83000000
0.405085703263
Long
DBT
CORP
US
N
2
2030-07-01
Fixed
0.05500000
N
N
N
N
N
N
MHP 2022-MHIL F
N/A
MHP 2022-MHIL F TSFR1M+395.75 01/15/2027 144A
55293DAN1
1423940.91300000
PA
USD
1375270.47000000
0.544763602530
Long
ABS-MBS
CORP
US
N
2
2027-01-15
Variable
0.09290660
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 5.65% 03/15/2033
03027XBZ2
2000000.00000000
PA
USD
2065779.34000000
0.818283690255
Long
DBT
CORP
US
N
2
2033-03-15
Fixed
0.05650000
N
N
N
N
N
N
GLOBAL NET LEASE INC
549300NUYANCT5SU8Z65
GLOBAL NET LEASE INC 7.5% PFD PERP
379378508
34998.00000000
NS
USD
768206.10000000
0.304297032220
Long
EP
CORP
US
N
1
N
N
N
INDEPENDENCE PLAZA TR 2018-INDP
N/A
INDEPENDENCE PLAZA TR 2018-INDP E 4.996% 07/10/2035 144A
45378YAS3
504000.00000000
PA
USD
466499.07000000
0.184786716136
Long
ABS-MBS
CORP
US
N
2
2035-07-10
Fixed
0.04996000
N
N
N
N
N
N
PENNYMAC MORTGAGE INVESTMENT TRUST
549300BSSOQO1ZWDUJ97
PENNYMAC MTG INVT TR 8.125/VAR PREF PERP
70931T301
31075.00000000
NS
USD
743624.75000000
0.294560020430
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 D 5.47 8/44
36191YAL2
759236.00000000
PA
USD
273914.81000000
0.108501434399
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05298297
N
N
N
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL 6.5%/VAR PFD PERP
55272X508
51100.00000000
NS
USD
1088941.00000000
0.431344550067
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
2031.00000000
0.000804507113
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
61500.00000000
NS
USD
1420035.00000000
0.562495450308
Long
EP
CORP
US
N
1
N
N
N
VERITAS MULTIFAMILY PORTFOLIO POOL A
N/A
VERITAS POOL A MEZZ 1ML+850 12/31/2049
N/A
5305034.57000000
PA
USD
0.53000000
0.000000209940
Long
LON
CORP
US
N
3
2049-12-31
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
547400.00000000
0.216832690390
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
0.000000154484
Long
DBT
CORP
US
N
3
2024-10-15
Fixed
0.04600000
Y
Y
N
N
N
N
REXFORD INDL RLTY INC
549300MSLO0DF0EMX355
REXFORD INDL RLTY INC SER B 5.875% PERP PFD
76169C308
50000.00000000
NS
USD
1153500.00000000
0.456917260441
Long
EP
CORP
US
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 4% 07/15/2029
756109CB8
1000000.00000000
PA
USD
958899.48000000
0.379833310308
Long
DBT
CORP
US
N
2
2029-07-15
Fixed
0.04000000
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
1132986.78000000
PA
USD
1103566.06000000
0.437137738059
Long
ABS-MBS
CORP
US
N
2
2038-05-15
Variable
0.09399810
N
N
N
N
N
N
AGREE LP
549300DXY3G299V1BO77
AGREE LP 4.8% 10/01/2032
008513AD5
77000.00000000
PA
USD
73239.46000000
0.029011160311
Long
DBT
CORP
US
N
2
2032-10-01
Fixed
0.04800000
N
N
N
N
N
N
ANNALY CAPITAL MANAGEMENT INC
2DTL0G3FPRYUT58TI025
ANNALY CAPITAL MANAGEMENT INC 6.5%/VAR PFD PERP
035710862
70990.00000000
NS
USD
1782558.90000000
0.706096167458
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER H 5.7% PERP PFD
70509V886
50200.00000000
NS
USD
960326.00000000
0.380398374556
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
614.65000000
0.000243471342
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
5686.25000000
0.002252402056
Long
ABS-MBS
CORP
US
N
3
2035-06-15
Variable
0.09130160
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
1082828.44000000
0.428923280739
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
1523975.60000000
0.603667755640
Long
ABS-MBS
CORP
US
N
2
2039-09-15
Variable
0.03592964
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP 6.875/VAR PERP PFD
00123Q609
65750.00000000
NS
USD
1616135.00000000
0.640173365152
Long
EP
CORP
US
N
1
N
N
N
CUSHMAN and WAKEFIELD US BORROWER LLC
549300870CMN3WI5IF97
CUSHMAN and WAKEFIELD TERM B 1LN 01/31/2030
23340DAR3
20000.00000000
PA
USD
19850.00000000
0.007862858794
Long
LON
CORP
US
N
2
2030-01-31
Variable
0.09332600
N
N
N
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
1000000.00000000
PA
USD
985201.10000000
0.390251744773
Long
DBT
CORP
US
N
2
2029-01-15
Fixed
0.05300000
N
N
N
N
N
N
AGREE LP
549300DXY3G299V1BO77
AGREE LP 2.6% 06/15/2033
008513AC7
1000000.00000000
PA
USD
791516.35000000
0.313530543768
Long
DBT
CORP
US
N
2
2033-06-15
Fixed
0.02600000
N
N
N
N
N
N
INVITATION HOMES OPERATING PARTNERSHIP LP
549300147YMUQB3GW319
INVITATION HOMES OPERATING PARTNERSHIP LP 5.5% 08/15/2033
46188BAF9
3000000.00000000
PA
USD
3021549.60000000
1.196877473359
Long
DBT
CORP
US
N
2
2033-08-15
Fixed
0.05500000
N
N
N
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 6% PFD PERP
756109880
16575.00000000
NS
USD
416034.16000000
0.164796869213
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
582180.41000000
PA
USD
573447.70000000
0.227150543641
Long
ABS-MBS
CORP
US
N
2
2038-04-15
Variable
0.08048442
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
3151790.71000000
1.248467773470
Long
ABS-MBS
CORP
US
N
2
2041-12-09
Variable
0.04075457
N
N
N
N
N
N
MSJP 2015-HAUL
N/A
MSJP 2015-HAUL E 5.012% 09/05/2047 144A
553697AN3
1000000.00000000
PA
USD
659610.80000000
0.261280936015
Long
ABS-MBS
CORP
US
N
2
2047-09-05
Variable
0.05012700
N
N
N
N
N
N
DBUBS 2011 LC3
N/A
DBUBS 2011-LC3A D CSTR 8/44
23305YAM1
522183.86000000
PA
USD
465093.50000000
0.184229950471
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05535799
N
N
N
N
N
N
KIMCO REALTY OP LLC
549300EA7I6T15IBYS12
KIMCO REALTY OP LLC 6.4% 03/01/2034
49447BAA1
576000.00000000
PA
USD
623182.61000000
0.246851227495
Long
DBT
CORP
US
N
2
2034-03-01
Fixed
0.06400000
N
N
N
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 4.125% 02/01/2029 144A
44267DAE7
665000.00000000
PA
USD
599728.59000000
0.237560766667
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
73400.00000000
NS
USD
1871700.00000000
0.741406186708
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
5450.00000000
NS
USD
115540.00000000
0.045766987664
Long
EP
CORP
US
N
1
N
N
N
SUNBELT MEZZ
N/A
SUNBELT MEZZ SOFR+445 01/21/2027
N/A
1691730.61000000
PA
USD
1691730.61000000
0.670117828978
Long
LON
CORP
US
N
3
2027-01-21
Variable
0.09917180
N
N
N
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSLVNA 7.375% PFD PERP
709102503
56533.00000000
NS
USD
24633.69000000
0.009757744386
Long
EP
CORP
US
N
1
N
N
N
RLJ LODGING TRUST LP
549300RX5I8Z6I6LDZ74
RLJ LODGING TRUST LP 4% 09/15/2029 144A
74965LAB7
715000.00000000
PA
USD
632797.29000000
0.250659734860
Long
DBT
CORP
US
N
2
2029-09-15
Fixed
0.04000000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT LP
549300N4PXZ37U8QKI55
AMERICAN HOMES 4 RENT LP 5.5% 02/01/2034
02666TAG2
1000000.00000000
PA
USD
1010265.59000000
0.400180134981
Long
DBT
CORP
US
N
2
2034-02-01
Fixed
0.05500000
N
N
N
N
N
N
MARRIOTT OWNERSHIP RESORTS INC
BW4532OH033VURR0IT68
MARRIOTT OWNERSHIP RESORTS INC 4.5% 06/15/2029 144A
57164PAH9
1570000.00000000
PA
USD
1411398.60000000
0.559074453145
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
203340.13000000
0.080545830201
Long
ABS-MBS
CORP
US
N
2
2051-06-15
Variable
0.03422569
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
256106.25000000
0.101447218146
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
962111.00000000
PA
USD
845184.40000000
0.334789198626
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
21735.00000000
NS
USD
265167.00000000
0.105036306198
Long
EP
CORP
US
N
1
N
N
N
SABRA HEALTH CARE LP
549300OVKLRFSIQG0H81
SABRA HEALTH CARE LP 5.125% 08/15/2026
14162VAB2
3615000.00000000
PA
USD
3560909.04000000
1.410525187029
Long
DBT
CORP
US
N
2
2026-08-15
Fixed
0.05125000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2020-NNN
N/A
JPMCC 2020-NNN FFX 4.6254% 01/16/2037 144A
46652BBN8
1406000.00000000
PA
USD
451809.10000000
0.178967816397
Long
ABS-MBS
CORP
US
N
3
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+264.7 07/15/2035 144A
36255WAN5
669000.00000000
PA
USD
59109.50000000
0.023414088258
Long
ABS-MBS
CORP
US
N
2
2035-07-15
Variable
0.08231000
N
N
N
N
N
N
HILTON USA TR 2016-HHV
N/A
HILT 2016-HHV F CSTR 11/38 144A
43300LAQ3
2515000.00000000
PA
USD
2310587.34000000
0.915255515738
Long
ABS-MBS
CORP
US
N
2
2038-11-05
Variable
0.04333283
N
N
N
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LXP INDUSTRIAL TRUST 2.7% 09/15/2030
529043AE1
78000.00000000
PA
USD
65620.65000000
0.025993244582
Long
DBT
CORP
US
N
2
2030-09-15
Fixed
0.02700000
N
N
N
N
N
N
GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP
N/A
GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP 3.75% 12/15/2027 144A
37892AAA8
925000.00000000
PA
USD
784697.32000000
0.310829431929
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
1960000.00000000
PA
USD
1382569.89000000
0.547655003474
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
828561.83070000
PA
USD
828030.81000000
0.327994425025
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
1649725.49000000
0.653479021561
Long
ABS-MBS
CORP
US
N
2
2044-03-11
Variable
0.03667042
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
364522.72000000
0.144392477322
Long
ABS-MBS
CORP
US
N
2
2034-06-15
Variable
0.09664518
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
8579.69000000
0.003398533550
Long
ABS-MBS
CORP
US
N
3
2062-12-15
Variable
0.03404110
N
N
N
N
N
N
VENTAS RLTY LTD PARTNERSHIP
32SXKSJ72K64GM3HOU64
VENTAS RLTY LTD PARTNERSHIP 2.5% 09/01/2031
92277GAW7
500000.00000000
PA
USD
410777.70000000
0.162714712903
Long
DBT
CORP
US
N
2
2031-09-01
Fixed
0.02500000
N
N
N
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 4.6% 02/06/2024
756109BD5
1757000.00000000
PA
USD
1756799.26000000
0.695892418747
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
1410554.54000000
0.558740109337
Long
ABS-CBDO
CORP
US
N
2
2038-04-19
Fixed
0.04998000
N
N
N
N
N
N
GLOBAL NET LEASE INC
549300NUYANCT5SU8Z65
GLOBAL NET LEASE INC 7.375% PFD PERP E
379378607
44100.00000000
NS
USD
941535.00000000
0.372955000268
Long
EP
CORP
US
N
1
N
N
N
EXTRA SPACE STORAGE LP
549300YNKSKNZFR8UC42
EXTRA SPACE STORAGE LP 5.9% 01/15/2031
30225VAR8
1000000.00000000
PA
USD
1039655.68000000
0.411821955013
Long
DBT
CORP
US
N
2
2031-01-15
Fixed
0.05900000
N
N
N
N
N
N
KIMCO REALTY OP LLC
549300EA7I6T15IBYS12
KIMCO REALTY OP LLC 4.6% 02/01/2033
49446RBA6
1000000.00000000
PA
USD
962405.11000000
0.381221938704
Long
DBT
CORP
US
N
2
2033-02-01
Fixed
0.04600000
N
N
N
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER C 7.75/VAR PERP PFD
16934Q505
84866.00000000
NS
USD
1740601.66000000
0.689476325970
Long
EP
CORP
US
N
1
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER 1 4% PFD PERP
29250N717
20325.00000000
NS
USD
437394.00000000
0.173257796457
Long
EP
CORP
CA
N
1
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 5.9% 11/15/2033
03027XCF5
1500000.00000000
PA
USD
1582663.19000000
0.626914719528
Long
DBT
CORP
US
N
2
2033-11-15
Fixed
0.05900000
N
N
N
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 4.875% 06/01/2026
756109BF0
1593000.00000000
PA
USD
1592562.39000000
0.630835929190
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
46750.00000000
NS
USD
1136492.50000000
0.450180355103
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
420160.00000000
0.166431171345
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
27900.00000000
NS
USD
696105.00000000
0.275736792006
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
295658.20000000
0.117114291088
Long
ABS-MBS
CORP
US
N
3
2045-11-10
Variable
0.04754281
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
200947.41000000
0.079598040806
Long
ABS-MBS
CORP
US
N
2
2031-07-05
Variable
0.04766973
N
N
N
N
N
N
Fidelity Revere Street Trust
549300BDV45LJNXBZC55
Fidelity Cash Central Fund
31635A105
12785607.39600000
NS
USD
12788164.52000000
5.065568355920
Long
STIV
RF
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 5.1% 08/01/2033
74460WAG2
1000000.00000000
PA
USD
1019081.93000000
0.403672408860
Long
DBT
CORP
US
N
2
2033-08-01
Fixed
0.05100000
N
N
N
N
N
N
COMM 2012-CCRE2 MTG TR
N/A
COMM 2012-CR2 F 4.25% 8/45
12624KBA3
783000.00000000
PA
USD
634230.00000000
0.251227251053
Long
ABS-MBS
CORP
US
N
2
2045-08-15
Fixed
0.04250000
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
1316000.00000000
PA
USD
587686.12000000
0.232790578196
Long
ABS-MBS
CORP
US
N
2
2046-04-15
Variable
0.04299237
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
1235250.00000000
0.489299563034
Long
EP
CORP
US
N
1
N
N
N
LAMAR MEDIA CORP
N/A
LAMAR MEDIA CORP 4% 02/15/2030
513075BT7
875000.00000000
PA
USD
800712.50000000
0.317173265627
Long
DBT
CORP
US
N
2
2030-02-15
Fixed
0.04000000
N
N
N
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER B 8%/VAR PREF PERP
16934Q406
62658.00000000
NS
USD
1517576.76000000
0.601133086856
Long
EP
CORP
US
N
1
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LEXINGTON RLTY 6.5 CV PFD PERPPAR=50
529043309
68019.00000000
NS
USD
3131857.31000000
1.240571878785
Long
EP
CORP
US
N
2
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6% SER E PFD PERP
804395879
13475.00000000
NS
USD
310733.50000000
0.123085825355
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
288278.25000000
PA
USD
5421.85000000
0.002147669569
Long
ABS-MBS
CORP
US
N
3
2045-05-15
Fixed
0.02462000
N
N
N
N
N
N
CTO NEWCO REIT INC
N/A
CTO REALTY GROWTH INC 6.375% PFD PERP
22948Q200
20000.00000000
NS
USD
416400.00000000
0.164941783483
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
18575.00000000
NS
USD
232930.50000000
0.092266983904
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
876788.25000000
0.347307919529
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
967589.20000000
0.383275428259
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.09362980
N
N
N
N
N
N
CBRE SERVICES INC
549300CTE3HOMEUMM603
CBRE SERVICES INC 5.95% 08/15/2034
12505BAG5
2250000.00000000
PA
USD
2327854.37000000
0.922095224488
Long
DBT
CORP
US
N
2
2034-08-15
Fixed
0.05950000
N
N
N
N
N
N
RETAIL VALUE INC
549300VO5RB7323N1Z31
RETAIL VALUE INC (ESCROW LINE)
76133Q102
24066.00000000
NS
USD
0.24000000
0.000000095067
Long
EC
CORP
US
N
3
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP
64828T300
64459.00000000
NS
USD
1564419.93000000
0.619688312610
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
807264.88000000
0.319768753723
Long
ABS-MBS
CORP
US
N
2
2034-04-15
Variable
0.08979300
N
N
N
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS IN SR Q 8.54% PFD PRP
74340W202
16850.00000000
NS
USD
923413.70000000
0.365776903388
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
849760.00000000
0.336601656898
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
367786.28000000
0.145685218453
Long
ABS-MBS
CORP
US
N
2
2035-06-05
Variable
0.03633200
N
N
N
N
N
N
DIGITAL REALTY TRUST LP
CD4SPTZ3YBTHY0C1AH38
DIGITAL REALTY TRUST LP 5.55% 01/15/2028
25389JAV8
1000000.00000000
PA
USD
1022442.80000000
0.405003695825
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
1217000.00000000
PA
USD
1217000.00000000
0.482070486308
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
100550.00000000
NS
USD
2501684.00000000
0.990951538596
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
224440.00000000
0.088903779742
Long
EP
CORP
US
N
1
N
N
N
PENNYMAC MORTGAGE INVESTMENT TRUST
549300BSSOQO1ZWDUJ97
PENNYMAC MTG INVT TR 8%/VAR SER B PREF PERP
70931T400
39705.00000000
NS
USD
939023.25000000
0.371960061448
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
1653378.38000000
0.654925981675
Long
ABS-MBS
CORP
US
N
2
2034-06-15
Variable
0.03613153
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
1175595.00000000
0.465669394702
Long
ABS-MBS
CORP
US
N
2
2046-01-10
Fixed
0.03500000
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 4.05% 03/15/2032
03027XBW9
1000000.00000000
PA
USD
934328.30000000
0.370100326995
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
101000.00000000
PA
USD
74622.53000000
0.029559013415
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05298297
N
N
N
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP SER B 7.125%/VAR PFD PERP
64828T409
60467.00000000
NS
USD
1441533.28000000
0.571011215546
Long
EP
CORP
US
N
1
N
N
N
ELLINGTON FINANCIAL INC
60GS1D1R1YY5G1W7IT74
ELLINGTON FINANCIAL INC 6.75/VAR PFD PERP
28852N208
58522.00000000
NS
USD
1409209.76000000
0.558207423430
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
2500000.00000000
PA
USD
2076574.83000000
0.822559932748
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
223096.94000000
PA
USD
217729.83000000
0.086245788851
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.05108652
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 2.25% 01/15/2031
22822VAT8
1500000.00000000
PA
USD
1239495.17000000
0.490981133426
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
12200.00000000
NS
USD
318421.22000000
0.126131037285
Long
EP
CORP
US
N
1
N
N
N
Phillips Edison Grocery Center Operating Partnership I LP
549300WUPIVS6ZE0ZI51
Phillips Edison Grocery Center Operating Partnership I LP 2.625% 11/15/2031
71845JAA6
1500000.00000000
PA
USD
1223941.58000000
0.484820141893
Long
DBT
CORP
US
N
2
2031-11-15
Fixed
0.02625000
N
N
N
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 E CSTR 8/44
36191YAN8
848000.00000000
PA
USD
94430.65000000
0.037405282964
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05298297
N
N
N
N
N
N
PROVIDENCE PLACE GROUP LTD PARTNERSHIP
N/A
PPGLP 2000-C1 A2 7.75% 7/28
743784AB6
704643.13010000
PA
USD
725245.49000000
0.287279742035
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
75785.00000000
NS
USD
1755559.53000000
0.695401344594
Long
EP
CORP
US
N
1
N
N
N
Fidelity Revere Street Trust
549300BDV45LJNXBZC55
Fidelity Securities Lending Cash Central Fund
31635A303
35996.40500000
NS
USD
36000.00000000
0.014260096554
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
1433154.00000000
0.567692067161
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
1281540.97000000
0.507636054751
Long
ABS-MBS
CORP
US
N
2
2048-05-15
Variable
0.04157085
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
1298777.68000000
0.514463753331
Long
ABS-MBS
CORP
US
N
2
2050-06-15
Variable
0.04562743
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
540634.74000000
PA
USD
487079.46000000
0.192938892484
Long
ABS-MBS
CORP
US
N
2
2046-11-15
Variable
0.05168378
N
N
N
N
N
N
UBS COML MTG TR 2012-C1
N/A
UBSCM 2012-C1 E CSTR 05/45
90269GAQ4
926620.31000000
PA
USD
743520.14000000
0.294518582966
Long
ABS-MBS
CORP
US
N
2
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
2500000.00000000
PA
USD
2228082.25000000
0.882574111580
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
472178.75000000
0.187036515724
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
1348103.14000000
0.534002248393
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
940800.00000000
PA
USD
929103.50000000
0.368030711648
Long
ABS-MBS
CORP
US
N
2
2026-06-15
Variable
0.09304480
N
N
N
N
N
N
SOTHERLY HOTELS INC
549300IYTT21F61LSR10
SOTHERLY HOTELS INC SER B 8% PERP PFD
83600C301
12750.00000000
NS
USD
245437.50000000
0.097221179115
Long
EP
CORP
US
N
1
N
N
N
CYXTERA TECHNOLOGIES INC
N/A
CYXTERA TECHNOLOGIES INC A
23284C102
37800.00000000
NS
USD
0.38000000
0.000000150523
Long
EC
CORP
US
N
3
N
N
HILTON DOMESTIC OPERATING CO INC
5493003EG7H0N1E4XV50
HILTON DOMESTIC OPERATING CO INC 3.625% 02/15/2032 144A
432833AN1
1500000.00000000
PA
USD
1287720.78000000
0.510083962731
Long
DBT
CORP
US
N
2
2032-02-15
Fixed
0.03625000
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
1269125.00000000
0.502717917778
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
22675691.20860000
PA
USD
77829.77000000
0.030829445417
Long
ABS-MBS
CORP
US
N
2
2044-06-15
Variable
0.00505526
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 2.5% 07/15/2031
22822VAY7
1500000.00000000
PA
USD
1250028.84000000
0.495153665405
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
52749.00000000
NS
USD
1213754.49000000
0.480784895032
Long
EP
CORP
US
N
1
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HOSPITALITY TRUST INC SER I 7.5% PFD PERP
044103885
12911.00000000
NS
USD
156868.65000000
0.062137835983
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
1944657.20000000
0.770305539941
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
1018301.33000000
0.403363202434
Long
DBT
CORP
US
N
2
2029-08-01
Fixed
0.04625000
N
N
N
N
N
N
WP CAREY INC
54930042CRNE713E3Q67
WP CAREY INC 2.45% 02/01/2032
92936UAJ8
1000000.00000000
PA
USD
816991.89000000
0.323621756551
Long
DBT
CORP
US
N
2
2032-02-01
Fixed
0.02450000
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
78725.00000000
0.031184058368
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
572381.56000000
0.226728230882
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.05108652
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
0.000000102989
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
1000000.00000000
PA
USD
1027127.50000000
0.406859370112
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
33000.00000000
NS
USD
525360.00000000
0.208102342388
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
391932.00000000
0.155249671191
Long
EP
CORP
US
N
1
N
N
N
MHP 2022-MHIL MEZZ
N/A
MHP 2022-MHIL MEZZ SOFR+500 01/09/2025
N/A
7110538.50000000
PA
USD
6719458.88000000
2.661670345123
Long
LON
CORP
US
N
3
2025-01-09
Variable
0.10333160
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
236926.53000000
PA
USD
139356.47000000
0.055201019936
Long
ABS-MBS
CORP
US
N
2
2038-08-15
Variable
0.09298480
N
N
N
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LXP INDUSTRIAL TRUST 2.375% 10/01/2031
529537AA0
500000.00000000
PA
USD
402812.98000000
0.159559777452
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
1000000.00000000
PA
USD
1017951.00000000
0.403224431888
Long
DBT
CORP
US
N
2
2028-02-15
Fixed
0.10500000
N
N
N
N
N
N
BRIXMOR OPERATING PARTNERSHIP LP
549300CJHBL7JBUA6503
BRIXMOR OPERATING PARTNERSHIP LP 2.5% 08/16/2031
11120VAL7
1000000.00000000
PA
USD
834182.69000000
0.330431269547
Long
DBT
CORP
US
N
2
2031-08-16
Fixed
0.02500000
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
477025.00000000
0.188956182195
Long
ABS-MBS
CORP
US
N
2
2046-05-15
Variable
0.03855923
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
689000.00000000
0.272922403506
Long
DBT
CORP
US
N
2
2030-01-15
Fixed
0.06000000
N
N
N
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 3.1% 12/15/2029
756109BK9
1000000.00000000
PA
USD
915756.22000000
0.362743669939
Long
DBT
CORP
US
N
2
2029-12-15
Fixed
0.03100000
N
N
N
N
N
N
VENTAS RLTY LTD PARTNERSHIP
32SXKSJ72K64GM3HOU64
VENTAS RLTY LTD PARTNERSHIP 4.4% 01/15/2029
92277GAN7
2000000.00000000
PA
USD
1939920.04000000
0.768429085524
Long
DBT
CORP
US
N
2
2029-01-15
Fixed
0.04400000
N
N
N
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
1322070.95000000
0.523690538867
Long
ABS-MBS
CORP
US
N
3
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
2364337.20000000
0.936546576665
Long
DBT
CORP
US
N
2
2025-06-01
Fixed
0.05250000
N
N
N
N
N
N
MPT OPER PARTNERSHIP LP / MPT FIN CORP
N/A
MPT OPER PARTNERSHIP LP/CORP 5% 10/15/2027
55342UAH7
3237000.00000000
PA
USD
2450048.40000000
0.970497965216
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
1000000.00000000
PA
USD
943525.53000000
0.373743476657
Long
DBT
CORP
US
N
2
2029-08-15
Fixed
0.03800000
N
N
N
N
N
N
SITE CENTERS CORP
W2AVA6SODOQ1LCYJQR54
SITE CENTERS CORP 6.375% 12/31/99 PFD PERP
82981J877
15100.00000000
NS
USD
353340.00000000
0.139962847684
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
1240244.26000000
PA
USD
1147579.78000000
0.454572179640
Long
ABS-MBS
CORP
US
N
2
2044-06-15
Variable
0.05385010
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
21905.43000000
0.008677042968
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
432000.00000000
0.171121158656
Long
EP
CORP
US
N
1
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 4.5% 04/01/2027
681936BF6
483000.00000000
PA
USD
469817.43000000
0.186101164302
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
64710.00000000
NS
USD
1496742.30000000
0.592880269876
Long
EP
CORP
US
N
1
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6
N/A
MORGAN STAN BAML TR-2012-C6 VAR 11/15/2045 144A
61761DAQ5
2000000.00000000
PA
USD
1620040.00000000
0.641720189515
Long
ABS-MBS
CORP
US
N
2
2045-11-15
Variable
0.04572469
N
N
N
N
N
N
DIAMONDROCK HOSPITALITY CO
529900KKD4BPVBUAQ734
DIAMONDROCK HOSPITALITY CO 8.25% PFD PERP
252784400
34900.00000000
NS
USD
888205.00000000
0.351830251677
Long
EP
CORP
US
N
1
N
N
N
SIMON PROPERTY GROUP LP
MR92GTD0MJTTTTQDVG45
SIMON PROPERTY GROUP LP 6.25% 01/15/2034
828807DW4
1000000.00000000
PA
USD
1082133.51000000
0.428648009381
Long
DBT
CORP
US
N
2
2034-01-15
Fixed
0.06250000
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2011-C2
3IFG42XD94UUZ7FL2766
MSC 2011-C2 F CSTR 6/44
617459AL6
1467000.00000000
PA
USD
603370.21000000
0.239003262579
Long
ABS-MBS
CORP
US
N
3
2044-06-15
Variable
0.05385010
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
289330.40000000
0.114607762228
Long
ABS-MBS
CORP
US
N
2
2042-10-09
Variable
0.02741981
N
N
N
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR REALTY TRUST INC SER C 6.50% PFD PERP
150602506
43500.00000000
NS
USD
561145.65000000
0.222277531952
Long
EP
CORP
US
N
1
N
N
N
2024-03-01
Stacie M. Smith
Stacie M. Smith
Stacie M. Smith
President and Treasurer