0001752724-24-072116.txt : 20240327
0001752724-24-072116.hdr.sgml : 20240327
20240327164047
ACCESSION NUMBER: 0001752724-24-072116
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: 24791431
BUSINESS ADDRESS:
STREET 1: 245 SUMMER STREET
CITY: BOSTON
STATE: MA
ZIP: 02210
BUSINESS PHONE: 617-563-7000
MAIL ADDRESS:
STREET 1: 245 SUMMER STREET
CITY: BOSTON
STATE: MA
ZIP: 02210
0000754510
S000007192
Fidelity Real Estate Income Fund
C000019680
Fidelity Real Estate Income Fund
FRIFX
C000087887
Fidelity Advisor Real Estate Income Fund: Class A
FRINX
C000087889
Fidelity Advisor Real Estate Income Fund: Class C
FRIOX
C000087890
Fidelity Advisor Real Estate Income Fund: Class M
FRIQX
C000087891
Fidelity Advisor Real Estate Income Fund: Class I
FRIRX
C000205040
Fidelity Advisor Real Estate Income Fund: Class Z
FIKMX
NPORT-P
1
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Boston
02210
1-800-FIDELITY
Fidelity Real Estate Income Fund
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DIGITAL REALTY TRUST INC
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DIGITAL REALTY TRUST INC
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74400.00000000
NS
USD
10450224.00000000
0.228402150726
Long
EC
CORP
US
N
1
N
N
N
EQUINIX INC
549300EVUN2BTLJ3GT74
EQUINIX INC 3.2% 11/18/2029
29444UBE5
10000000.00000000
PA
USD
9143259.30000000
0.199836873235
Long
DBT
CORP
US
N
2
2029-11-18
Fixed
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N
N
N
N
N
N
PUBLIC STORAGE
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PUBLIC STORAGE SER S 4.1% PFD PERP
74460W396
200000.00000000
NS
USD
3890000.00000000
0.085020604948
Long
EP
CORP
US
N
1
N
N
N
EXTRA SPACE STORAGE LP
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EXTRA SPACE STORAGE LP 5.4% 02/01/2034
30225VAS6
5000000.00000000
PA
USD
4998939.55000000
0.109257805820
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
4671000.00000000
PA
USD
537071.58000000
0.011738342064
Long
ABS-MBS
CORP
US
N
2
2046-02-15
Variable
0.04409000
N
N
N
N
N
N
GS MTG SECS CORP TR 2023-SHIP
N/A
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36270GAJ0
15000000.00000000
PA
USD
14735946.00000000
0.322071733523
Long
ABS-MBS
CORP
US
N
2
2038-09-10
Variable
0.07433600
N
N
N
N
N
N
SERITAGE GROWTH PPTYS
5493003CJFC2MM82WB25
SERITAGE GROWTH PPTYS SER A 7% PERP PFD
81752R308
91986.00000000
NS
USD
2239859.10000000
0.048954800946
Long
EP
CORP
US
N
1
N
N
N
NEW RESIDENTIAL MORTGAGE LOAN TRUST 2022-SFR2
N/A
NEW RESIDENTIAL MORTGAGE LOAN TRUST 2022-SFR2 4% 09/04/2039 144A
64830RAJ1
2900000.00000000
PA
USD
2593351.97000000
0.056680810625
Long
ABS-CBDO
CORP
US
N
2
2039-09-04
Fixed
0.04000000
N
N
N
N
N
N
Morgan Stanley Capital I Trust
N/A
Morgan Stanley Capital I Trust 3.536% 02/15/2053
61770KBC8
2765000.00000000
PA
USD
2071258.18000000
0.045269826084
Long
ABS-MBS
CORP
US
N
2
2053-02-15
Fixed
0.03536000
N
N
N
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 5.625% 10/13/2032
756109BP8
5000000.00000000
PA
USD
5189264.90000000
0.113417594096
Long
DBT
CORP
US
N
2
2032-10-13
Fixed
0.05625000
N
N
N
N
N
N
MSWF COMMERCIAL MORTGAGE TRUST 23-2
N/A
MSWF COMMERCIAL MORTGAGE TRUST 23-2 B 7.252% 12/15/2056
55361AAY0
10000000.00000000
PA
USD
10943462.00000000
0.239182457447
Long
ABS-MBS
CORP
US
N
2
2056-12-15
Variable
0.07110149
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE SER M 4.125% PFD PERP
74460W537
53000.00000000
NS
USD
1040920.00000000
0.022750552211
Long
EP
CORP
US
N
1
N
N
N
EQUINIX INC
549300EVUN2BTLJ3GT74
EQUINIX INC
29444U700
65000.00000000
NS
USD
53935050.00000000
1.178815058850
Long
EC
CORP
US
N
1
N
N
N
UBS COML MTG TR 2012-C1
N/A
UBSCM 2012-C1 F CSTR 5/10/45 144A
90269GAS0
2221350.00000000
PA
USD
266562.00000000
0.005826031490
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
12000000.00000000
PA
USD
11677208.28000000
0.255219360430
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
50325.00000000
NS
USD
21800.79000000
0.000476482353
Long
EP
CORP
US
N
1
N
N
N
BANK 2022-BNK41
N/A
BANK 2022-BNK41 CSTR 04/15/2065
06540MCA1
4433000.00000000
PA
USD
3451439.82000000
0.075435347413
Long
ABS-MBS
CORP
US
N
2
2065-04-15
Variable
0.03916496
N
N
N
N
N
N
BRE/EVERBRIGHT M6 BORROWER LLC
N/A
MOTEL 6 TERM B 1LN 09/09/2026
05601QAB0
7785120.00000000
PA
USD
7765657.20000000
0.169727730839
Long
LON
CORP
US
N
2
2026-09-09
Variable
0.10435530
N
N
N
N
N
N
COSTAR GROUP INC
N/A
COSTAR GROUP INC 2.8% 07/15/2030 144A
22160NAA7
2000000.00000000
PA
USD
1717967.90000000
0.037548244251
Long
DBT
CORP
US
N
2
2030-07-15
Fixed
0.02800000
N
N
N
N
N
N
BMO 2023-5C1 MTG TR
N/A
BMO 2023-5C1 MTG TR 7.25502% 08/15/2056
055986AF0
3500000.00000000
PA
USD
3718341.90000000
0.081268811759
Long
ABS-MBS
CORP
US
N
2
2056-08-15
Variable
0.07117726
N
N
N
N
N
N
HOWARD HUGHES CORP
549300BVHY25JZC1KI49
HOWARD HUGHES CORP 5.375% 08/01/2028 144A
44267DAD9
2515000.00000000
PA
USD
2409401.44000000
0.052660351669
Long
DBT
CORP
US
N
2
2028-08-01
Fixed
0.05375000
N
N
N
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6
N/A
MORGAN STAN BAML TR-2012-C6 F CSTR 11/15/2045 144A
61761DAU6
2500000.00000000
PA
USD
1200300.00000000
0.026233992832
Long
ABS-MBS
CORP
US
N
2
2045-11-15
Variable
0.04572469
N
N
N
N
N
N
CSAIL 2019-C15 COML MTG TR
N/A
CSAIL 2019-C15 COML MTG TR 4.0529% 03/15/2052
22945DAG8
9425000.00000000
PA
USD
8956059.13000000
0.195745389508
Long
ABS-MBS
CORP
US
N
2
2052-03-15
Fixed
0.04052900
N
N
N
N
N
N
CENTURY CMNTYS INC
5299002QMB2O7ZL1CA26
CENTURY COMMUNITIES INC 6.75% 06/01/2027
156504AL6
4670000.00000000
PA
USD
4704749.47000000
0.102827929581
Long
DBT
CORP
US
N
2
2027-06-01
Fixed
0.06750000
N
N
N
N
N
N
CREDIT SUISSE MORTGAGE TRUST 2021
N/A
CREDIT SUISSE MORTGAGE TRUST 2021-BRIT A TSFR1M+357.368 92 05/15/2026 144A
12658RAA8
8146317.63000000
PA
USD
7397844.56000000
0.161688745451
Long
ABS-MBS
CORP
US
N
2
2026-05-15
Variable
0.08906680
N
N
N
N
N
N
SAFEHOLD OPERATING PARTNERSHIP LP
54930012UY5Z4Q8NL108
SAFEHOLD OPERATING PARTNERSHIP LP 2.8% 06/15/2031
78646UAA7
7000000.00000000
PA
USD
5825902.95000000
0.127332080509
Long
DBT
CORP
US
N
2
2031-06-15
Fixed
0.02800000
N
N
N
N
N
N
BX 2021-VOLT
N/A
BX 2021-VOLT F TSFR1M+251.448 09/15/2036 144A
05609VAQ8
10000000.00000000
PA
USD
9801545.00000000
0.214224494943
Long
ABS-MBS
CORP
US
N
2
2036-09-15
Variable
0.07847640
N
N
N
N
N
N
EXTRA SPACE STORAGE INC
N/A
EXTRA SPACE STORAGE INC
30225T102
163149.00000000
NS
USD
23565241.56000000
0.515046553518
Long
EC
CORP
US
N
1
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C9
549300PFVBG5704L7K74
MSBAM 13-C9 D CSTR 5/15/46
61762DAG6
5137000.00000000
PA
USD
3666276.90000000
0.080130868880
Long
ABS-MBS
CORP
US
N
2
2046-05-15
Variable
0.03943923
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4% PFD PERP
74460W420
244200.00000000
NS
USD
4622706.00000000
0.101034771367
Long
EP
CORP
US
N
1
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP SER C 6.375%/VAR PFD PERP
64828T508
1074554.00000000
NS
USD
23554223.68000000
0.514805744567
Long
EP
CORP
US
N
1
N
N
N
SREIT TR 2021-MFP
N/A
SREIT TR 2021-MFP G TSFR1M+308.828 38 11/15/2038 144A
78472UAN8
3706886.84000000
PA
USD
3554910.41000000
0.077696820975
Long
ABS-MBS
CORP
US
N
2
2038-11-15
Variable
0.08421440
N
N
N
N
N
N
ARMADA HOFFLER PROPERTIES INC
549300WQRSIV6XZT9313
ARMADA HOFFLER PPTYS INC SER A 6.75% PFD PERP
04208T207
255050.00000000
NS
USD
5993675.00000000
0.130998939425
Long
EP
CORP
US
N
1
N
N
N
HEALTHCARE REALTY TRUST INC
549300L0I14L7I0VLX84
HEALTHCARE REALTY TRUST INC
42226K105
186360.00000000
NS
USD
3002259.60000000
0.065617976196
Long
EC
CORP
US
N
1
N
N
N
COMM 2017-COR2
N/A
COMM 2017-COR2 D 3% 09/10/2050 144A
12595EAN5
2769000.00000000
PA
USD
2057505.17000000
0.044969237593
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
2866000.00000000
PA
USD
2860403.48000000
0.062517540942
Long
DBT
CORP
US
N
2
2024-04-01
Fixed
0.04950000
N
N
N
N
N
N
VASA TR 2021-VASA
N/A
VASA TR 2021-VASA F TSFR1M+401.448 04/15/2060 144A
92230AAL0
6685000.00000000
PA
USD
3657379.54000000
0.079936406431
Long
ABS-MBS
CORP
US
N
2
2039-07-15
Variable
0.09348480
N
N
N
N
N
N
XHR LP
549300M88BPT83ZL2164
XHR LP 6.375% 08/15/2025 144A
98372MAA3
4250000.00000000
PA
USD
4251400.29000000
0.092919440754
Long
DBT
CORP
US
N
2
2025-08-15
Fixed
0.06375000
N
N
N
N
N
N
PENNYMAC MORTGAGE INVESTMENT TRUST
549300BSSOQO1ZWDUJ97
PENNYMAC MTG INVT TR 6.75% PERP PFD
70931T509
217700.00000000
NS
USD
4266920.00000000
0.093258642587
Long
EP
CORP
US
N
1
N
N
N
UMH PPTYS INC
529900OM5K3PJ11F0Q09
UMH PPTYS INC 6.75% SER D PFD PERP
903002509
694525.00000000
NS
USD
15974075.00000000
0.349132524419
Long
EP
CORP
US
N
1
N
N
N
REDWOOD TRUST INC
DRBV4N1ERQLEMIF11G78
REDWOOD TRUST INC CONV 5.625% 07/15/2024
758075AD7
3631000.00000000
PA
USD
3576530.28000000
0.078169349105
Long
DBT
CORP
US
N
2
2024-07-15
Fixed
0.05625000
N
N
N
N
N
REDWOOD TRUST INC
REDWOOD TRUST INC REIT
USD
XXXX
N
N
N
DYNEX CAPITAL INC
5CIJ4S9HAEBWILA19B65
DYNEX CAP INC 6.9%/VAR PFD PERP C
26817Q878
298683.00000000
NS
USD
7147484.19000000
0.156216819972
Long
EP
CORP
US
N
1
N
N
N
GLP CAP LP / GLP FING II INC
N/A
GLP CAP LP / GLP FING II INC 4% 01/15/2030
361841AP4
3000000.00000000
PA
USD
2733591.00000000
0.059745902442
Long
DBT
CORP
US
N
2
2030-01-15
Fixed
0.04000000
N
N
N
N
N
N
EG GLOBAL FINANCE PLC
549300TL8Q5207VYET27
EG GLOBAL FINANCE PLC 12% 11/30/2028 144A
28228PAC5
10000000.00000000
PA
USD
10569800.00000000
0.231015627296
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
15250000.00000000
PA
USD
12584376.25000000
0.275046601972
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
11371000.00000000
PA
USD
1.14000000
0.000000024916
Long
DBT
CORP
US
N
3
2049-12-31
Fixed
0.05250000
Y
Y
N
N
N
N
EASTERLY GOVERNMENT PROPERTIES INC
549300ERMCEFC6S8HL77
EASTERLY GOVERNMENT PROPERTIES INC
27616P103
998900.00000000
NS
USD
12266492.00000000
0.268098861294
Long
EC
CORP
US
N
1
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LXP INDUSTRIAL TRUST REIT
529043101
3254074.00000000
NS
USD
29579532.66000000
0.646496082479
Long
EC
CORP
US
N
1
N
N
N
VICI PROPERTIES LP
254900X4QE7SGKQLLN38
VICI PROPERTIES LP 5.125% 05/15/2032
925650AD5
38000000.00000000
PA
USD
36313883.00000000
0.793683367786
Long
DBT
CORP
US
N
2
2032-05-15
Fixed
0.05125000
N
N
N
N
N
N
WFRBS COML MTG TR 2011-C3
N/A
WFRBS 2011-C3 D CSTR 3/44
92935VAS7
503529.70000000
PA
USD
139729.49000000
0.003053955210
Long
ABS-MBS
CORP
US
N
2
2044-03-15
Variable
0.06049660
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 5% 01/11/2028
22822VBA8
3000000.00000000
PA
USD
2984860.71000000
0.065237702635
Long
DBT
CORP
US
N
2
2028-01-11
Fixed
0.05000000
N
N
N
N
N
N
ADAMS HOMES INC
N/A
ADAMS HOMES INC 7.5% 02/15/2025 144A
00623PAA9
2439000.00000000
PA
USD
2422781.87000000
0.052952796978
Long
DBT
CORP
US
N
2
2025-02-15
Fixed
0.07500000
N
N
N
N
N
N
BENCHMARK 2022-B34 MORTGAGE TRUST
N/A
BENCHMARK 2022-B34 MORTGAGE TRUST 3.786% 04/15/2055
08161YBG7
10168402.00000000
PA
USD
9061638.55000000
0.198052954073
Long
ABS-MBS
CORP
US
N
2
2055-04-15
Fixed
0.03786000
N
N
N
N
N
N
BX TR 2022-LBA6
N/A
BX TR 2022-LBA6 TSFR1M+420 01/15/2039 144A
12433EAS0
11340000.00000000
PA
USD
11037321.79000000
0.241233875474
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.09533160
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC
25401T603
76688.00000000
NS
USD
1506152.32000000
0.032918761283
Long
EC
CORP
US
N
1
N
N
AMR HMS 15-SFR2
N/A
AMERICAN HOMES 4 RENT 2015-SFR2 TR VAR 10/17/2045 144A
02666BAG1
4459092.44380000
PA
USD
44.59000000
0.000000974567
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
1500000.00000000
PA
USD
1296669.27000000
0.028340258548
Long
DBT
CORP
US
N
2
2030-10-01
Fixed
0.02900000
N
N
N
N
N
N
KIMCO REALTY CORP
254900ARY41P4V1JL861
KIMCO REALTY CORP 5.125% PERP PFD
49446R737
49000.00000000
NS
USD
1153460.00000000
0.025210248581
Long
EP
CORP
US
N
1
N
N
N
NEW FORTRESS ENERGY INC
254900EICTYTCHA5X705
NEW FORTRESS ENERGY TERM B 1LN 10/30/2028
64439HAB5
10000000.00000000
PA
USD
9995000.00000000
0.218452685465
Long
LON
CORP
US
N
2
2028-10-30
Variable
0.10317430
N
N
N
N
N
N
CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATE
N/A
CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATES TSFR1M+382.888 44 08/15/2026 144A
12659XAA4
18000000.00000000
PA
USD
16008294.60000000
0.349880434726
Long
ABS-MBS
CORP
US
N
2
2026-08-15
Variable
0.09162880
N
N
N
N
N
N
CENTURY CMNTYS INC
5299002QMB2O7ZL1CA26
CENTURY COMMUNITIES INC 3.875% 08/15/2029 144A
156504AM4
13005000.00000000
PA
USD
11701278.66000000
0.255745447389
Long
DBT
CORP
US
N
2
2029-08-15
Fixed
0.03875000
N
N
N
N
N
N
WFRBS COML MTG TR 2013-C13
N/A
WFRBS COML MTG TR 2013-C13 D CSTR 05/15/2045 144A
92937UAJ7
3803068.24000000
PA
USD
3249227.41000000
0.071015753216
Long
ABS-MBS
CORP
US
N
3
2045-05-15
Variable
0.04141499
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 5.35% 08/01/2053
74460WAH0
5000000.00000000
PA
USD
5126610.60000000
0.112048209395
Long
DBT
CORP
US
N
2
2053-08-01
Fixed
0.05350000
N
N
N
N
N
N
CUSHMAN and WAKEFIELD US BORROWER LLC
549300870CMN3WI5IF97
CUSHMAN and WAKEFIELD TERM B 1LN 01/31/2030
23340DAQ5
2624599.12800000
PA
USD
2596174.72000000
0.056742505204
Long
LON
CORP
US
N
2
2030-01-31
Variable
0.08705960
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 5.15% SER F PFD PERP
74460W685
25800.00000000
NS
USD
635712.00000000
0.013894246481
Long
EP
CORP
US
N
1
N
N
N
TERRENO RLTY CORP
N/A
TERRENO REALTY CORP
88146M101
263828.00000000
NS
USD
15758446.44000000
0.344419704210
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
8217563.97850000
PA
USD
7644712.66000000
0.167084343190
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.08794480
N
N
N
N
N
N
HILTON GRAND VACATIONS BORROWER LLC
254900HF0EZ734FDVY79
HILTON GRAND VACATIONS TERM B 1LN 01/10/2031
43283LAK7
4000000.00000000
PA
USD
3990000.00000000
0.087206224612
Long
LON
CORP
US
N
2
2031-01-10
Variable
0.08082600
N
N
N
N
N
N
BENCHMARK 2022-B36 MTG TR
N/A
BENCHMARK 2022-B36 MTG TR 4.4699% 07/15/2055
08163QBH0
4900000.00000000
PA
USD
4750685.73000000
0.103831921512
Long
ABS-MBS
CORP
US
N
2
2055-07-15
Fixed
0.04469900
N
N
N
N
N
N
BMO 2023-C6 MTG TR
N/A
BMO 2023-C6 A5 MTG TR 5.9562% 09/15/2056
055985AE5
14000000.00000000
PA
USD
15073608.20000000
0.329451744966
Long
ABS-MBS
CORP
US
N
2
2056-09-15
Fixed
0.05956200
N
N
N
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL INC CONV 6.25% 06/15/2024
55272XAA0
9700000.00000000
PA
USD
9699970.03000000
0.212004452424
Long
DBT
CORP
US
N
2
2024-06-15
Fixed
0.06250000
N
N
N
N
N
MFA FINANCIAL INC
MFA FINANCIAL INC
USD
XXXX
N
N
N
GS MTG SECS TR 2012-GCJ9
N/A
GS MTG SECS TR 2012-GCJ9 VAR 11/10/2045 144A
36192PAK2
4531578.25000000
PA
USD
4128449.05000000
0.090232194275
Long
ABS-MBS
CORP
US
N
2
2045-11-10
Variable
0.04754281
N
N
N
N
N
N
POSTAL REALTY TRUST INC
5493007B7ZZSIJRGWC41
POSTAL REALTY TRUST INC
73757R102
878500.00000000
NS
USD
12386850.00000000
0.270729429410
Long
EC
CORP
US
N
1
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER L 4/VAR PFD PERP
29250N790
111400.00000000
NS
USD
2226886.00000000
0.048671258321
Long
EP
CORP
CA
N
1
N
N
N
CUSHMAN and WAKEFIELD US BORROWER LLC
549300870CMN3WI5IF97
CUSHMAN and WAKEFIELD TERM B 1LN 08/21/2025
23340DAP7
257928.57200000
PA
USD
255834.19000000
0.005591562365
Long
LON
CORP
US
N
2
2025-08-21
Variable
0.08220440
N
N
N
N
N
N
WELLTOWER INC
254900F33BIAR82QTA19
WELLTOWER INC
95040Q104
654600.00000000
NS
USD
56629446.00000000
1.237704307665
Long
EC
CORP
US
N
1
N
N
N
ENERGY TRANSFER LP
MTLVN9N7JE8MIBIJ1H73
ENERGY TRANSFER LP 7.125/VAR PERP
29273VAM2
6000000.00000000
PA
USD
5799904.80000000
0.126763859830
Long
EP
CORP
US
N
2
N
N
N
SREIT TR 2021-IND
N/A
SREIT TR 2021-IND G TSFR1M+338.026 21 10/15/2038 144A
78473JAS1
12754000.00000000
PA
USD
11861217.45000000
0.259241101034
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
281697.00000000
NS
USD
6002963.07000000
0.131201941309
Long
EP
CORP
US
N
1
N
N
N
WELLTOWER OP LLC
T6IZ0MBEG5ACZDTR7D06
WELLTOWER OP LLC 4% 06/01/2025
42217KBF2
5000000.00000000
PA
USD
4918175.90000000
0.107492619604
Long
DBT
CORP
US
N
2
2025-06-01
Fixed
0.04000000
N
N
N
N
N
N
WFRBS COML MTG TR 2013-C11
N/A
WFRBS 2013-C11 E VAR 3/45
92937EAL8
4727000.00000000
PA
USD
2783803.10000000
0.060843347974
Long
ABS-MBS
CORP
US
N
3
2045-03-15
Variable
0.04189564
N
N
N
N
N
N
BENCHMARK 2022-B35 MTG TR
N/A
BENCHMARK 2022-B35 MTG TR 4.59391% 05/15/2055
08163RBV7
7000000.00000000
PA
USD
5267943.10000000
0.115137200307
Long
ABS-MBS
CORP
US
N
2
2055-05-15
Variable
0.04444398
N
N
N
N
N
N
BENCHMARK 2023-V2 MORTGAGE TRUST
N/A
BENCHMARK 2023-V2 MORTGAGE TRUST 6.5374% 05/15/2055
08163TAD4
4200000.00000000
PA
USD
4360311.90000000
0.095299834319
Long
ABS-MBS
CORP
US
N
2
2055-05-15
Fixed
0.06537400
N
N
N
N
N
N
KIMCO REALTY CORP
254900ARY41P4V1JL861
KIMCO REALTY CORPORATION
49446R109
201400.00000000
NS
USD
4068280.00000000
0.088917127686
Long
EC
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2014-DSTY
N/A
JPMCC 2014-DSTY E CSTR 06/27
46642MAN8
8161000.00000000
PA
USD
19904.68000000
0.000435040600
Long
ABS-MBS
CORP
US
N
3
2027-06-10
Variable
0.03931420
N
N
N
N
N
N
JP MORGAN CHASE COML MTG SECS TR 2012-CIBX
N/A
JP MORGAN CHASE CMS TR 12-CIBX 4.0% 06/15/2045 144A
46637WAS2
8192000.00000000
PA
USD
6553600.00000000
0.143236770331
Long
ABS-MBS
CORP
US
N
3
2045-06-15
Fixed
0.04000000
N
N
N
N
N
N
COMM 2018-HCLV MTG TR
N/A
COMM 2018-HCLV MTG TR TSFR1M+319.601 09/15/2033 144A
20048KAL1
4265000.00000000
PA
USD
2066473.54000000
0.045165252051
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
157675.00000000
NS
USD
3364784.50000000
0.073541391699
Long
EP
CORP
US
N
1
N
N
N
SBA COMMUNICATIONS CORP
5299001HX8ZN8Y8QIT49
SBA COMMUNICATIONS CORP 3.875% 02/15/2027
78410GAD6
5000000.00000000
PA
USD
4771605.00000000
0.104289137191
Long
DBT
CORP
US
N
2
2027-02-15
Fixed
0.03875000
N
N
N
N
N
N
ACADIA REALTY TRUST
N/A
ACADIA RLTY TR REIT
004239109
510426.00000000
NS
USD
8707867.56000000
0.190320865748
Long
EC
CORP
US
N
1
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2021-SOAR
N/A
BX COMMERCIAL MORTGAGE TRUST 2021-SOAR J 3.85% 06/15/2023 144A
05608WAU8
17644334.41000000
PA
USD
17139235.34000000
0.374598497933
Long
ABS-MBS
CORP
US
N
2
2038-06-15
Variable
0.09198480
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2021-PAC
N/A
BX COMMERCIAL MORTGAGE TRUST 2021-PAC G TSFR1M+306.058 21 10/15/2036 144A
05609PAS7
17232000.00000000
PA
USD
16456551.38000000
0.359677623057
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.08393580
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 5.1% 05/01/2033
22822VBC4
30000000.00000000
PA
USD
29632606.80000000
0.647656081320
Long
DBT
CORP
US
N
2
2033-05-01
Fixed
0.05100000
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INVT CORP 8.125% SER A PERP PFD
90187B200
363526.00000000
NS
USD
8161158.70000000
0.178371889397
Long
EP
CORP
US
N
1
N
N
N
PROLOGIS LP
GL16H1DHB0QSHP25F723
PROLOGIS LP 5.125% 01/15/2034
74340XCH2
5000000.00000000
PA
USD
5078190.90000000
0.110989938910
Long
DBT
CORP
US
N
2
2034-01-15
Fixed
0.05125000
N
N
N
N
N
N
BANK 2022-BNK43
N/A
BANK 2022-BNK43 4.399% 08/15/2055
06541QAZ8
10485000.00000000
PA
USD
10101661.06000000
0.220783890567
Long
ABS-MBS
CORP
US
N
2
2055-08-15
Fixed
0.04399000
N
N
N
N
N
N
PKHL COML MTG TR 2021-MF
N/A
PKHL COML MTG TR 2021-MF G TSFR1M+446.448 07/15/2038 144A
69356GAS8
5944000.00000000
PA
USD
3705667.33000000
0.080991793864
Long
ABS-MBS
CORP
US
N
3
2038-07-15
Variable
0.09798480
N
N
N
N
N
N
BANK 2022-BNK42
N/A
BANK 2017-BNK4 2.5% 06/15/2055 144A
06541MAL8
2000000.00000000
PA
USD
1290863.20000000
0.028213359940
Long
ABS-MBS
CORP
US
N
2
2055-06-15
Fixed
0.02500000
N
N
N
N
N
N
CAESARS ENTERTAINMENT INC
5299000BKFWWVND5L441
CAESARS ENTERTAINMENT INC 8.125% 07/01/2027 144A
28470RAK8
17465000.00000000
PA
USD
17923386.39000000
0.391737057481
Long
DBT
CORP
US
N
2
2027-07-01
Fixed
0.08125000
N
N
N
N
N
N
HEALTHCARE TRUST INC
549300Z2NSUGF5NF2Y30
HEALTHCARE TRUST INC 7.125% PERP PFD
42226B303
190000.00000000
NS
USD
2886100.00000000
0.063079169136
Long
EP
CORP
US
N
1
N
N
N
BX TR 2022-LBA6
N/A
BX TR 2022-LBA6 TSFR1M+335 01/15/2039 144A
12433EAQ4
6200000.00000000
PA
USD
6055695.00000000
0.132354460741
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.08683160
N
N
N
N
N
N
BANK5 2023-5YR4
N/A
BANK5 2023-5YR4 AS CSTR 12/15/2056
06211FBA5
5000000.00000000
PA
USD
5365557.00000000
0.117270668901
Long
ABS-MBS
CORP
US
N
2
2056-12-15
Variable
0.07274000
N
N
N
N
N
N
BRIXMOR OPERATING PARTNERSHIP LP
549300CJHBL7JBUA6503
BRIXMOR OPERATING PARTNERSHIP LP 4.05% 07/01/2030
11120VAJ2
4000000.00000000
PA
USD
3740790.12000000
0.081759444469
Long
DBT
CORP
US
N
2
2030-07-01
Fixed
0.04050000
N
N
N
N
N
N
EXTRA SPACE STORAGE LP
549300YNKSKNZFR8UC42
EXTRA SPACE STORAGE LP 2.55% 06/01/2031
30225VAF4
2000000.00000000
PA
USD
1671789.32000000
0.036538956126
Long
DBT
CORP
US
N
2
2031-06-01
Fixed
0.02550000
N
N
N
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6.125% SER D PFD PERP
804395804
82775.00000000
NS
USD
1895398.51000000
0.041426202554
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
9000000.00000000
PA
USD
9086001.30000000
0.198585431128
Long
DBT
CORP
US
N
2
2029-01-15
Fixed
0.05500000
N
N
N
N
N
N
NNN REIT INC
5493008JKH5SOTI0JS97
NNN REIT INC
637417106
52100.00000000
NS
USD
2101714.00000000
0.045935474475
Long
EC
CORP
US
N
1
N
N
N
BANK 2023-BNK46
N/A
BANK 2023-BNK46 A4 5.745% 08/15/2056
06541DBH6
1409000.00000000
PA
USD
1498925.48000000
0.032760810046
Long
ABS-MBS
CORP
US
N
2
2056-08-15
Fixed
0.05745000
N
N
N
N
N
N
AGREE REALTY CORP
N/A
AGREE REALTY CORP 4.375% PERP PFD
008492209
259800.00000000
NS
USD
4824486.00000000
0.105444914726
Long
EP
CORP
US
N
1
N
N
N
HILTON GRAND VACATIONS BORROWER ESCROW LLC
N/A
HILTON GRAND VACATIONS BORROWER ESCROW LLC 4.875% 07/01/2031 144A
43284MAB4
18265000.00000000
PA
USD
16197416.61000000
0.354013922566
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
27000000.00000000
PA
USD
24105339.72000000
0.526851045111
Long
DBT
CORP
US
N
2
2032-04-15
Fixed
0.03625000
N
N
N
N
N
N
SABRA HEALTH CARE LP
549300OVKLRFSIQG0H81
SABRA HEALTH CARE LP 3.9% 10/15/2029
78572XAG6
989000.00000000
PA
USD
894947.55000000
0.019560149639
Long
DBT
CORP
US
N
2
2029-10-15
Fixed
0.03900000
N
N
N
N
N
N
SOTHERLY HOTELS INC
549300IYTT21F61LSR10
SOTHERLY HOTELS INC SER C 7.875% PERP PFD
83600C400
107000.00000000
NS
USD
2069380.00000000
0.045228776212
Long
EP
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C3
N/A
JPMCC 2011-C3 E CSTR 2/46
46635TBD3
13774000.00000000
PA
USD
5716347.74000000
0.124937620295
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
8130000.00000000
PA
USD
6602454.30000000
0.144304539519
Long
DBT
CORP
US
N
2
2030-02-01
Fixed
0.04750000
N
N
N
N
N
N
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-BNK1
549300DNBJ7A0SEFVK31
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-BNK1 D 3% 08/15/2049 144A
95000GAJ3
6979000.00000000
PA
USD
2260639.77000000
0.049408987356
Long
ABS-MBS
CORP
US
N
3
2049-08-15
Fixed
0.03000000
N
N
N
N
N
N
HILTON WORLDWIDE FINANCE LLC
549300406TN7EY0NPH20
HILTON TERM B 1LN 06/21/2028
43289DAL7
13500000.00000000
PA
USD
13494330.00000000
0.294934730070
Long
LON
CORP
US
N
2
2028-06-21
Variable
0.07185860
N
N
N
N
N
N
CUBESMART
N/A
CUBESMART
229663109
325200.00000000
NS
USD
14055144.00000000
0.307191991135
Long
EC
CORP
US
N
1
N
N
N
HILTON GRAND VACATIONS BORROWER LLC
254900HF0EZ734FDVY79
HILTON GRAND VACATIONS TERM B 1LN 08/02/2028
43283LAH4
1000000.00000000
PA
USD
997860.00000000
0.021809424384
Long
LON
CORP
US
N
2
2028-08-02
Variable
0.08197080
N
N
N
N
N
N
BROOKFIELD PROPERTY PARTNERS LP
5493004J5Z0TZW83NU62
BROOKFIELD PROPERTY PARTN LP 5.75% PFD PERP
N/A
43000.00000000
NS
USD
499660.00000000
0.010920667215
Long
EP
CORP
BM
N
1
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER G 7.75%/VAR PFD PERP
00123Q856
320000.00000000
NS
USD
7267200.00000000
0.158833352257
Long
EP
CORP
US
N
1
N
N
N
GLOBAL NET LEASE INC
549300NUYANCT5SU8Z65
GLOBAL NET LEASE INC SER B 6.875% PFD PERP
379378409
294000.00000000
NS
USD
6088740.00000000
0.133076698759
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
9277000.00000000
PA
USD
7248120.10000000
0.158416338211
Long
ABS-MBS
CORP
US
N
2
2070-12-26
Fixed
0.03000000
N
N
N
N
N
N
VENTAS INC
ORQTRC074CWLT3DKHT41
VENTAS INC REIT
92276F100
892186.00000000
NS
USD
41388508.54000000
0.904595381487
Long
EC
CORP
US
N
1
N
N
N
GLOBAL MEDICAL REIT INC
549300HFRIPQDYU3GU60
GLOBAL MEDICAL REIT INC SER A 7.5% PFD PERP
37957W203
150848.00000000
NS
USD
3725945.60000000
0.081434999721
Long
EP
CORP
US
N
1
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2013-LC11
N/A
JP MORGAN CH CMS 13-LC11 VAR 04/15/2046 144A
46639YAE7
2518000.00000000
PA
USD
156116.00000000
0.003412101995
Long
ABS-MBS
CORP
US
N
2
2046-04-15
Variable
0.03250000
N
N
N
N
N
N
EQUINIX INC
549300EVUN2BTLJ3GT74
EQUINIX INC 3.9% 04/15/2032
29444UBU9
22000000.00000000
PA
USD
20359260.68000000
0.444976004965
Long
DBT
CORP
US
N
2
2032-04-15
Fixed
0.03900000
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INV CORP 7.625% SER B PFD PERP
90187B309
776859.00000000
NS
USD
16951063.38000000
0.370485774572
Long
EP
CORP
US
N
1
N
N
N
CUSHMAN and WAKEFIELD US BORROWER LLC
549300870CMN3WI5IF97
CUSHMAN and WAKEFIELD US BORROWER LLC 6.75% 05/15/2028 144A
23166MAA1
11165000.00000000
PA
USD
11012262.80000000
0.240686181261
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
686200.00000000
NS
USD
9792074.00000000
0.214017494904
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
9000000.00000000
PA
USD
7398034.20000000
0.161692890260
Long
DBT
CORP
US
N
2
2031-07-15
Fixed
0.02375000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2013-LC11
N/A
JP MORGAN CH CMS 13-LC11 E CSTR 04/15/2046 144A
46639YAC1
472000.00000000
PA
USD
128063.04000000
0.002798970985
Long
ABS-MBS
CORP
US
N
2
2046-04-15
Variable
0.03250000
N
N
N
N
N
N
BBCMS MTG TR 2023-C22
N/A
BBCMS MTG TR 2023-C22 7.363626% 11/15/2056
05554FAF2
10000000.00000000
PA
USD
11594956.00000000
0.253421638424
Long
ABS-MBS
CORP
US
N
2
2056-11-15
Fixed
0.07363626
N
N
N
N
N
N
GS MTG SECS TR 2019-GSA1
N/A
GS MTG SECS TR 2019-GSA1 3.0479% 11/10/2052
36261PAT9
7000000.00000000
PA
USD
6303553.90000000
0.137771713599
Long
ABS-MBS
CORP
US
N
2
2052-11-10
Fixed
0.03047900
N
N
N
N
N
N
GLADSTONE COMMERCIAL CORP
529900EVVV534W8R0T32
GLADSTONE COMMERCIAL CORP SER G 6% PFD PERP
376536884
516000.00000000
NS
USD
9977376.00000000
0.218067491855
Long
EP
CORP
US
N
1
N
N
N
VORNADO REALTY L P
549300BMOJ05INE4YK86
VORNADO REALTY LP 3.4% 06/01/2031
929043AL1
6000000.00000000
PA
USD
4730297.22000000
0.103386306228
Long
DBT
CORP
US
N
2
2031-06-01
Fixed
0.03400000
N
N
N
N
N
N
MHC COML MTG TR 2021-MHC
N/A
MHC 2021 MHC G TSFR1M+331.544 9 04/15/2026 144A
55316VAN4
13087314.88000000
PA
USD
12858293.41000000
0.281033389286
Long
ABS-MBS
CORP
US
N
2
2038-04-15
Variable
0.08648442
N
N
N
N
N
N
BANK5 2023-5YR3
N/A
BANK5 2023-5YR3 AS 7.293% 09/15/2056
06211EAP6
1500000.00000000
PA
USD
1615638.90000000
0.035311721505
Long
ABS-MBS
CORP
US
N
2
2056-09-15
Variable
0.07315375
N
N
N
N
N
N
REXFORD INDUSTRIAL REALTY LP
549300028US163ELJN70
REXFORD INDUSTRIAL REALTY LP 2.15% 09/01/2031
76169XAB0
6188000.00000000
PA
USD
4977232.41000000
0.108783370300
Long
DBT
CORP
US
N
2
2031-09-01
Fixed
0.02150000
N
N
N
N
N
N
GLOBAL PARTNERS LP
549300PCHWTW9P4DU444
GLOBAL PARTNERS LP SER A 9.75/VAR PFD PERP
37946R208
161507.00000000
NS
USD
4260360.85000000
0.093115284515
Long
EP
CORP
US
N
1
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE
74460D109
141500.00000000
NS
USD
40071385.00000000
0.875808070391
Long
EC
CORP
US
N
1
N
N
N
COMM 2018-HCLV MTG TR
N/A
COMM MORTGAGE TRUST 2018-HCLV G TSFR1M+520.234 069/15/2033
20048KAN7
4265000.00000000
PA
USD
1638047.89000000
0.035801496797
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
13601000.00000000
PA
USD
13226972.50000000
0.289091311976
Long
DBT
CORP
US
N
2
2024-11-01
Fixed
0.05500000
N
N
N
N
Y
PENNYMAC MORTGAGE INVESTMENT TRUST
PENNYMAC MORTGAGE INV TRUST
USD
XXXX
N
N
N
UBS-BAMLL TR 2012-WRM
N/A
UBSBM 2012-WRM D CSTR 6/30
90269PAL5
2143000.00000000
PA
USD
1724600.68000000
0.037693211595
Long
ABS-MBS
CORP
US
N
2
2030-06-10
Variable
0.04379267
N
N
N
N
N
N
BENCHMARK 2022-B36 MTG TR
N/A
BENCHMARK 2022-B36 MTG TR 2.5% 07/15/2055 144A
08163QAN8
3828000.00000000
PA
USD
2132283.66000000
0.046603610975
Long
ABS-MBS
CORP
US
N
2
2055-07-15
Fixed
0.02500000
N
N
N
N
N
N
MORGAN STANLEY BK OF AMER MERRILL LYNCH TR 2013-C12
N/A
MORGAN STANLEY BNK AML TR13-C12 4.94% 10/15/2046
61762XAC1
5670988.00000000
PA
USD
4735501.82000000
0.103500058989
Long
ABS-MBS
CORP
US
N
2
2046-10-15
Variable
0.06236469
N
N
N
N
N
N
BENCHMARK 2019-B14 MTG TR
N/A
BENCHMARK 2019-B14 MTG TR VAR 12/15/2062 144A
08162YBM3
3427000.00000000
PA
USD
69527.32000000
0.001519602778
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
653202.00000000
NS
USD
16708907.16000000
0.365193160609
Long
EP
CORP
US
N
1
N
N
N
BANK5 2023-5YR3
N/A
BANK5 2023-5YR3 CSTR 09/15/2056
06211EAU5
2000000.00000000
PA
USD
2120368.80000000
0.046343197452
Long
ABS-MBS
CORP
US
N
2
2056-09-15
Variable
0.07559210
N
N
N
N
N
N
NATIONAL STORAGE AFFILIATES TRUST
529900FS06O8GOYNR108
NATIONAL STORAGE AFFILIATES SER A 6% PFD PERP
637870205
101375.00000000
NS
USD
2379271.25000000
0.052001820311
Long
EP
CORP
US
N
1
N
N
N
STWD TR 2021-LIH
N/A
STWD TR 2021-LIH TSFR1M+424.7 11/15/2036 144A
78486EAU2
9177000.00000000
PA
USD
8705237.96000000
0.190263392694
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
150100.00000000
NS
USD
64798.17000000
0.001416241545
Long
EP
CORP
US
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 3.4% 01/15/2030
756109CC6
12000000.00000000
PA
USD
11051302.56000000
0.241539441933
Long
DBT
CORP
US
N
2
2030-01-15
Fixed
0.03400000
N
N
N
N
N
N
BANK 2022-BNK44
N/A
BANK 2022-BNK44 5.745654% 11/15/2055
06540KAR0
5000000.00000000
PA
USD
5131784.00000000
0.112161280242
Long
ABS-MBS
CORP
US
N
2
2055-11-15
Variable
0.05745246
N
N
N
N
N
N
HUDSON PACIFIC PROPERTIES LP
5493007NTUGLGZ8T3526
HUDSON PAC PPTYS LP 4.65% 04/01/2029
44409MAB2
6000000.00000000
PA
USD
5302468.50000000
0.115891794239
Long
DBT
CORP
US
N
2
2029-04-01
Fixed
0.04650000
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2019-XL
N/A
BX COMMERCIAL MORTGAGE TRUST 2019-XL J TSFR1M+276.448 10/15/2036 144A
056054AL3
15217549.99600000
PA
USD
14790938.16000000
0.323273652986
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.08097640
N
N
N
N
N
N
MORGAN STANLEY CAPITAL I TRUST 2018-H4
N/A
MORGAN STANLEY CAPITAL I TRUST 2018-H4 4.31% 12/15/2051
61691RAE6
14240929.00000000
PA
USD
13805922.73000000
0.301744962050
Long
ABS-MBS
CORP
US
N
2
2051-12-15
Fixed
0.04310000
N
N
N
N
N
N
INVITATION HOMES OPERATING PARTNERSHIP LP
549300147YMUQB3GW319
INVITATION HOMES OPERATING PARTNERSHIP LP 4.15% 04/15/2032
46188BAD4
35000000.00000000
PA
USD
32125149.00000000
0.702133573789
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
9575000.00000000
PA
USD
9793570.44000000
0.214050201391
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
372994.00000000
NS
USD
7948539.44000000
0.173724841040
Long
EP
CORP
US
N
1
N
N
N
VASA TR 2021-VASA
N/A
VASA TR 2021-VASA G TSFR1M+511.448 04/15/2060 144A
92230AAN6
800000.00000000
PA
USD
363681.92000000
0.007948703559
Long
ABS-MBS
CORP
US
N
2
2039-07-15
Variable
0.10448480
N
N
N
N
N
N
MORGAN STANLEY CAPITAL I TRUST 2017-H1
N/A
MORGAN STANLEY CAPITAL I TRUST 2017-H1 4.281% 06/15/2050
61691JBA1
2470594.00000000
PA
USD
2190578.11000000
0.047877705938
Long
ABS-MBS
CORP
US
N
2
2050-06-15
Fixed
0.04281000
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 2.1% 04/01/2031
22822VAW1
4000000.00000000
PA
USD
3256160.68000000
0.071167288129
Long
DBT
CORP
US
N
2
2031-04-01
Fixed
0.02100000
N
N
N
N
N
N
CUSHMAN and WAKEFIELD PLC
N/A
CUSHMAN and WAKEFIELD PLC
N/A
201400.00000000
NS
USD
2118728.00000000
0.046307335804
Long
EC
CORP
GB
N
1
N
N
N
WILLIAMS SCOTSMAN INC
549300DAKDS8SCO1OT57
WILLIAMS SCOTSMAN INC 6.125% 06/15/2025 144A
71953LAA9
3240000.00000000
PA
USD
3231900.00000000
0.070637041936
Long
DBT
CORP
US
N
2
2025-06-15
Fixed
0.06125000
N
N
N
N
N
N
COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR
N/A
CD 2017-CD4 D 3.3% 05/10/2050 144A
12515DAF1
2769000.00000000
PA
USD
1812533.96000000
0.039615098655
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
211532.00000000
NS
USD
4370251.12000000
0.095517067866
Long
EP
CORP
US
N
1
N
N
N
COMM 2014-UBS2 MTG TR
N/A
COMM 2014-UBS2 D MTG TR CSTR 03/10/2047 144A
12591UAP8
3713000.00000000
PA
USD
3078578.26000000
0.067286011837
Long
ABS-MBS
CORP
US
N
2
2047-03-10
Variable
0.05124058
N
N
N
N
N
N
CITIGROUP COMMERCIAL MORTGAGE TRUST 2023-SMRT
N/A
CITIGROUP COMMERCIAL MORTGAGE TRUST 2023-SMRT C 6.43808% 06/10/2028 144A
17291NAE1
9750000.00000000
PA
USD
9784640.78000000
0.213855032986
Long
ABS-MBS
CORP
US
N
2
2040-10-12
Variable
0.06047503
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE SER L 4.625% PFD PERP
74460W552
235900.00000000
NS
USD
5208672.00000000
0.113841759490
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
12000000.00000000
PA
USD
10785682.80000000
0.235734004225
Long
DBT
CORP
US
N
2
2031-05-01
Fixed
0.04000000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2011-C3
N/A
JP MORGAN CHASE CO MT SE 2011-C3 H CSTR 02/15/2046 144A
46635TBN1
7077000.00000000
PA
USD
489268.40000000
0.010693546362
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
6602670.29000000
PA
USD
5159786.11000000
0.112773299865
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
509695.00000000
NS
USD
10678110.25000000
0.233382877419
Long
EP
CORP
US
N
1
N
N
N
WP GLIMCHER MALL TR 15-WPG
N/A
JPMDB 2015-WPG PR1 CSTAR 6/5/35 144A
92939VAL8
6725000.00000000
PA
USD
5639396.70000000
0.123255763233
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
457602.00000000
NS
USD
9802383.96000000
0.214242831418
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
9923335.50000000
PA
USD
8509589.65000000
0.185987264757
Long
ABS-CBDO
CORP
US
N
2
2041-01-17
Fixed
0.04242000
N
N
N
N
N
N
DIGITAL REALTY TRUST INC
549300HKCZ31D08NEI41
DIGITAL RLTY TR INC SER L 5.2% PERP PFD
253868822
33700.00000000
NS
USD
759598.00000000
0.016601923259
Long
EP
CORP
US
N
1
N
N
N
BANK 2017-BNK8
N/A
BANK 2017-BNK8 E 2.8% 11/15/2050 144A
06650AAW7
11374393.00000000
PA
USD
4094783.75000000
0.089496398858
Long
ABS-MBS
CORP
US
N
2
2050-11-15
Fixed
0.02800000
N
N
N
N
N
N
COMM 2012-CCRE1 MTG TR
N/A
COMM 2012-CR1 D CSTR 5/45
12624BAL0
1469505.76000000
PA
USD
1139425.38000000
0.024903505167
Long
ABS-MBS
CORP
US
N
2
2045-05-15
Variable
0.05308407
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
2000000.00000000
PA
USD
1779386.60000000
0.038890623436
Long
DBT
CORP
US
N
2
2031-01-15
Fixed
0.04000000
N
N
N
N
N
N
CAESARS ENTERTAINMENT INC
5299000BKFWWVND5L441
CAESARS ENTERTAINMENT TERM B1 1LN 01/24/2031
12768EAH9
4435000.00000000
PA
USD
4423912.50000000
0.096689901539
Long
LON
CORP
US
N
2
2031-01-24
Variable
0.00000000
N
N
N
N
N
N
SUNSTONE HOTEL INVS INC NEW
529900ZQ2V52V96ATF67
SUNSTONE HOTEL INVS INC SER I 5.7% PERP PFD
867892887
240000.00000000
NS
USD
4800000.00000000
0.104909743895
Long
EP
CORP
US
N
1
N
N
N
ARBOR REALTY TRUST INC
549300ASFUWYQO0RW077
ARBOR REALTY TRUST INC SER F 6.25%/VAR PFD PERP
038923850
447536.00000000
NS
USD
8283891.36000000
0.181054358548
Long
EP
CORP
US
N
1
N
N
N
BENCHMARK 2022-B35 MTG TR
N/A
BENCHMARK 2022-B35 A5 MTG TR VAR 05/15/2054
08163RBQ8
12302000.00000000
PA
USD
11574030.38000000
0.252964283958
Long
ABS-MBS
CORP
US
N
2
2055-05-15
Variable
0.04592459
N
N
N
N
N
N
VICI PROPERTIES LP / VICI NOTE CO INC
N/A
VICI PROPERTIES LP / VICI NOTE CO INC 4.625% 12/01/2029 144A
92564RAB1
26000000.00000000
PA
USD
24604320.00000000
0.537756856232
Long
DBT
CORP
US
N
2
2029-12-01
Fixed
0.04625000
N
N
N
N
N
N
BBCMS MTG TR 2022-C17
N/A
BBCMS MTG TR 2022-C17 C 5.45% 09/15/2055
054976AL9
2000000.00000000
PA
USD
1779802.20000000
0.038899706872
Long
ABS-MBS
CORP
US
N
2
2055-09-15
Fixed
0.05450000
N
N
N
N
N
N
ESSEX PORTFOLIO LP
5493003GN3O58H286O74
ESSEX PORTFOLIO LP 2.55% 06/15/2031
29717PAZ0
2000000.00000000
PA
USD
1674708.94000000
0.036602767915
Long
DBT
CORP
US
N
2
2031-06-15
Fixed
0.02550000
N
N
N
N
N
N
REGENCY CENTERS CORP(REIT)
529900053A7X7FJ97S58
REGENCY CENTERS CORP(REIT) 5.875% PERP PFD
758849871
69225.00000000
NS
USD
1721625.75000000
0.037628190940
Long
EP
CORP
US
N
1
N
N
N
BBCMS MORTGAGE TRUST 2023-C21
N/A
BBCMS MORTGAGE TRUST 2023-C21 6.506144% 09/15/2056
05553WAJ8
7000000.00000000
PA
USD
7308403.20000000
0.159733897499
Long
ABS-MBS
CORP
US
N
2
2056-09-15
Fixed
0.06506144
N
N
N
N
N
N
REGENCY CENTERS CORP(REIT)
529900053A7X7FJ97S58
REGENCY CENTERS CORP REIT SER A 6.25% PFD PERP
758849889
281325.00000000
NS
USD
7010619.00000000
0.153225467466
Long
EP
CORP
US
N
1
N
N
N
BRIXMOR OPERATING PARTNERSHIP LP
549300CJHBL7JBUA6503
BRIXMOR OPERATING PARTNERSHIP LP 4.125% 05/15/2029
11120VAH6
1872000.00000000
PA
USD
1777522.35000000
0.038849878022
Long
DBT
CORP
US
N
2
2029-05-15
Fixed
0.04125000
N
N
N
N
N
N
ENERGY TRANSFER LP
MTLVN9N7JE8MIBIJ1H73
ENERGY TRANSFER LP 7.6/VAR PFD PERP
29273V605
525651.00000000
NS
USD
13151788.02000000
0.287448065196
Long
EP
CORP
US
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C3
N/A
MSC 2011-C3 G CSTR 07/49
61760RAS1
5049500.00000000
PA
USD
4304996.17000000
0.094090842846
Long
ABS-MBS
CORP
US
N
3
2049-07-15
Variable
0.05108652
N
N
N
N
N
N
HOME PARTNERS AMER 2019-2 TR
N/A
HOME PARTNERS AMER 2019-2 TR 3.866% 10/19/2039 144A
43732TAL5
2760918.05000000
PA
USD
2427513.73000000
0.053056217440
Long
ABS-CBDO
CORP
US
N
2
2039-10-19
Fixed
0.03866000
N
N
N
N
N
N
BOSTON PPTY LTD PARTNERSHIP
BVHHEFJI6SHNOKQT2572
BOSTON PPTYS LTD PARTNERSHIP 6.75% 12/01/2027
10112RBG8
37000.00000000
PA
USD
38673.15000000
0.000845247971
Long
DBT
CORP
US
N
2
2027-12-01
Fixed
0.06750000
N
N
N
N
N
N
FORESTAR GROUP INC
549300BC2UB0GHV60V70
FORESTAR GROUP INC 5% 03/01/2028 144A
346232AE1
5000000.00000000
PA
USD
4717850.55000000
0.103114269361
Long
DBT
CORP
US
N
2
2028-03-01
Fixed
0.05000000
N
N
N
N
N
N
COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR
N/A
COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR CSTR 05/10/2050
12515DAV6
3000000.00000000
PA
USD
2277992.10000000
0.049788243293
Long
ABS-MBS
CORP
US
N
2
2050-05-10
Variable
0.04349700
N
N
N
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR RLTY TR I 7.25% PFD PERP
150602407
126972.00000000
NS
USD
1855060.92000000
0.040544576255
Long
EP
CORP
US
N
1
N
N
N
BBCMS MTG TR 2023-C22
N/A
BBCMS MTG TR 2023-C22 VAR 11/15/2056
05554FAJ4
10000000.00000000
PA
USD
11224744.00000000
0.245330212152
Long
ABS-MBS
CORP
US
N
2
2056-11-15
Variable
0.07363626
N
N
N
N
N
N
BBCMS MTG TR 2020-C6
N/A
BBCMS MTG TR 2020-C6 3.045% 02/15/2053
05492TAJ9
1129000.00000000
PA
USD
897129.25000000
0.019607833303
Long
ABS-MBS
CORP
US
N
2
2053-02-15
Fixed
0.03045000
N
N
N
N
N
N
CTR PARTNERSHIP LP / CARETRUST CAP CORP
N/A
CTR PARTNERSHIP LP / CARETRUST CAP CORP 3.875% 06/30/2028 144A
126458AE8
21865000.00000000
PA
USD
19925793.15000000
0.435502053391
Long
DBT
CORP
US
N
2
2028-06-30
Fixed
0.03875000
N
N
N
N
N
N
KENNEDY-WILSON INC
5EA4464UK7FM5QNNKL62
KENNEDY-WILSON INC 5% 03/01/2031
489399AM7
6960000.00000000
PA
USD
5550600.00000000
0.121315005096
Long
DBT
CORP
US
N
2
2031-03-01
Fixed
0.05000000
N
N
N
N
N
N
OPEN TR 2023-AIR
N/A
OPEN TR 2023-AIR TSFR1M+668.387 10/15/2028 144A
68373BAG6
9459357.96000000
PA
USD
9494862.71000000
0.207521586505
Long
ABS-MBS
CORP
US
N
2
2028-10-15
Variable
0.12016906
N
N
N
N
N
N
UDR INC
P3CH2EG5X6Z1XWU1OO74
UDR INC 3% 08/15/2031
90265EAR1
1500000.00000000
PA
USD
1307031.00000000
0.028566726556
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
317300.00000000
NS
USD
7754812.00000000
0.169490696015
Long
EP
CORP
US
N
1
N
N
N
BENCHMARK 2023-B39 C MTG TR
N/A
BENCHMARK 2023-B39 C MTG TR 6.19203% 07/15/2056 144A
081925AG4
5000000.00000000
PA
USD
5187804.00000000
0.113385664378
Long
ABS-MBS
CORP
US
N
2
2056-07-15
Fixed
0.06192030
N
N
N
N
N
N
BOSTON PPTY LTD PARTNERSHIP
BVHHEFJI6SHNOKQT2572
BOSTON PPTYS LTD PARTNERSHIP 3.25% 01/30/2031
10112RBD5
8000000.00000000
PA
USD
6886448.32000000
0.150511568666
Long
DBT
CORP
US
N
2
2031-01-30
Fixed
0.03250000
N
N
N
N
N
N
JP MORGAN CHASE COML MTG SECS TR 2012-CIBX
N/A
JPMCC 2012-CBX E CSTR 6/45
46637WAQ6
4370619.19000000
PA
USD
3867997.98000000
0.084539724472
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
1798000.00000000
PA
USD
1782393.36000000
0.038956339774
Long
DBT
CORP
US
N
2
2027-06-15
Fixed
0.05875000
N
N
N
N
N
N
TRICON RESIDENTIAL 2021-SFR1 TR
N/A
TRICON RESIDENTIAL 2021-SFR1 TR 4.133% 07/17/2038 144A
89614YAH9
3000000.00000000
PA
USD
2705193.00000000
0.059125230170
Long
ABS-CBDO
CORP
US
N
2
2038-07-17
Fixed
0.04133000
N
N
N
N
N
N
BENCHMARK 2022-B36 MTG TR
N/A
BENCHMARK 2022-B36 MTG TR 5.2895% 07/15/2055 144A
08163QBP2
2000000.00000000
PA
USD
1478799.80000000
0.032320939227
Long
ABS-MBS
CORP
US
N
2
2055-07-15
Variable
0.05118934
N
N
N
N
N
N
EXTRA SPACE STORAGE LP
549300YNKSKNZFR8UC42
EXTRA SPACE STORAGE LP 5.5% 07/01/2030
30225VAK3
5000000.00000000
PA
USD
5113249.15000000
0.111756178916
Long
DBT
CORP
US
N
2
2030-07-01
Fixed
0.05500000
N
N
N
N
N
N
ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO
N/A
ASHTON WOODS USA LLC/FIN CO 6.625% 01/15/2028 144A
045086AK1
7925000.00000000
PA
USD
7808112.51000000
0.170655642443
Long
DBT
CORP
US
N
2
2028-01-15
Fixed
0.06625000
N
N
N
N
N
N
SMRT 2022-MINI
N/A
SMRT 2022-MINI TSFR1M+335 01/15/2039 144A
78457JAQ5
14615000.00000000
PA
USD
13468171.18000000
0.294362997756
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.08684000
N
N
N
N
N
N
BX TR 2022-VAMF
N/A
BX TR 2022-VAMF TSFR1M+329.9 01/15/2039 144A
05609TAL4
4367000.00000000
PA
USD
4062442.80000000
0.088789548695
Long
ABS-MBS
CORP
US
N
2
2039-01-15
Variable
0.08632160
N
N
N
N
N
N
MHP 2022-MHIL F
N/A
MHP 2022-MHIL F TSFR1M+395.75 01/15/2027 144A
55293DAN1
13149118.92700000
PA
USD
12699680.73000000
0.277566719361
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
20000000.00000000
PA
USD
20657793.40000000
0.451500794799
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
821484.00000000
NS
USD
18031573.80000000
0.394101622789
Long
EP
CORP
US
N
1
N
N
N
INDEPENDENCE PLAZA TR 2018-INDP
N/A
INDEPENDENCE PLAZA TR 2018-INDP E 4.996% 07/10/2035 144A
45378YAS3
2896000.00000000
PA
USD
2680518.49000000
0.058585939227
Long
ABS-MBS
CORP
US
N
2
2035-07-10
Fixed
0.04996000
N
N
N
N
N
N
WEYERHAEUSER CO
08IRJODWFYBI7QWRGS31
WEYERHAEUSER CO
962166104
147500.00000000
NS
USD
4833575.00000000
0.105643565697
Long
EC
CORP
US
N
1
N
N
N
PENNYMAC MORTGAGE INVESTMENT TRUST
549300BSSOQO1ZWDUJ97
PENNYMAC MTG INVT TR 8.125/VAR PREF PERP
70931T301
388754.00000000
NS
USD
9302883.22000000
0.203325645020
Long
EP
CORP
US
N
1
N
N
N
SUMIT 2022-BVUE MTG TR
N/A
SUMIT 2022-BVUE MTG TR 3.29249% 02/12/2041 144A
865592AJ8
6000000.00000000
PA
USD
4253874.60000000
0.092973519760
Long
ABS-MBS
CORP
US
N
2
2041-02-12
Variable
0.02892490
N
N
N
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 D 5.47 8/44
36191YAL2
2733635.00000000
PA
USD
986232.36000000
0.021555288397
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05298297
N
N
N
N
N
N
BBCMS MORTGAGE TRUST 2023-C21
N/A
BBCMS MORTGAGE TRUST 2023-C21 AS VAR 09/15/2056
05553WAH2
7000000.00000000
PA
USD
7460846.40000000
0.163065726055
Long
ABS-MBS
CORP
US
N
2
2056-09-15
Variable
0.06506144
N
N
N
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL 6.5%/VAR PFD PERP
55272X508
838551.00000000
NS
USD
17869521.81000000
0.390559782628
Long
EP
CORP
US
N
1
N
N
N
BENCHMARK 2021-B28 MTG TR
N/A
BENCHMARK 2021-B28 MTG TR 2.2237% 08/15/2054
08163GAU4
500000.00000000
PA
USD
413018.70000000
0.009027017925
Long
ABS-MBS
CORP
US
N
2
2054-08-15
Fixed
0.02223700
N
N
N
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GS MTG SECS TR 2011-GC5 4.5% 08/10/2044 144A
36191YAQ1
7897000.00000000
PA
USD
23691.00000000
0.000517795154
Long
ABS-MBS
CORP
US
N
3
2044-08-10
Fixed
0.04500000
N
N
N
N
N
N
TRI POINTE HOMES INC
N/A
TRI POINTE HOMES INC 5.25% 06/01/2027
87265HAF6
11458000.00000000
PA
USD
11265620.18000000
0.246223609980
Long
DBT
CORP
US
N
2
2027-06-01
Fixed
0.05250000
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER F 6.125%/VAR PFD PERP
00123Q872
930100.00000000
NS
USD
21476009.00000000
0.469383875850
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
29336049.37000000
PA
USD
2.93000000
0.000000064038
Long
LON
CORP
US
N
3
2049-12-31
Variable
0.00000000
Y
Y
N
N
N
N
WELLTOWER OP LLC
T6IZ0MBEG5ACZDTR7D06
WELLTOWER OP LLC 4.125% 03/15/2029
95040QAH7
3000000.00000000
PA
USD
2903898.48000000
0.063468176215
Long
DBT
CORP
US
N
2
2029-03-15
Fixed
0.04125000
N
N
N
N
N
N
JP MORGAN CHASE COML MTG SECS TR 2012-CIBX
N/A
JPMCC 2012-CBX G 4.0% 6/45 144A
46637WAU7
4044000.00000000
PA
USD
2749920.00000000
0.060102792277
Long
ABS-MBS
CORP
US
N
3
2045-06-15
Fixed
0.04000000
N
N
N
N
N
N
KIMCO REALTY CORP
254900ARY41P4V1JL861
KIMCO REALTY CORP SER M 5.25% PFD PERP
49446R711
58100.00000000
NS
USD
1366512.00000000
0.029866754989
Long
EP
CORP
US
N
1
N
N
N
CBL and ASSOCS LTD PARTNERSHIP
549300VS75TWHD9JTH89
CBL and ASSOCS LP 4.6% 10/15/2024
12505JAB9
18229000.00000000
PA
USD
1.82000000
0.000000039778
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
739000.00000000
NS
USD
22258680.00000000
0.486490087134
Long
EC
CORP
US
N
1
N
N
N
REXFORD INDL RLTY INC
549300MSLO0DF0EMX355
REXFORD INDL RLTY INC SER B 5.875% PERP PFD
76169C308
98400.00000000
NS
USD
2270088.00000000
0.049615489729
Long
EP
CORP
US
N
1
N
N
N
TRICON RESIDENTIAL 2023-SFR1 TRUST
N/A
TRICON RESIDENTIAL 2023-SFR1 TRUST 8.25% 07/17/2040 144A
89616WAE8
2000000.00000000
PA
USD
2051038.80000000
0.044827907339
Long
ABS-CBDO
CORP
US
N
2
2040-07-17
Fixed
0.07977000
N
N
N
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 4% 07/15/2029
756109CB8
3000000.00000000
PA
USD
2876698.44000000
0.062873686792
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
12077382.04000000
PA
USD
11763763.83000000
0.257111135552
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
1288000.00000000
PA
USD
1225096.37000000
0.026775947171
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
1069599.00000000
NS
USD
26857630.89000000
0.587005662146
Long
EP
CORP
US
N
1
N
N
N
BBCMS MTG TR 2023-C19
N/A
BBCMS MTG TR 2023-C19 A5 5.451% 04/15/2056
05553RAC4
22500000.00000000
PA
USD
23475593.25000000
0.513087182426
Long
ABS-MBS
CORP
US
N
2
2056-04-15
Fixed
0.05451000
N
N
N
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TR SER H 5.7% PERP PFD
70509V886
717200.00000000
NS
USD
13720036.00000000
0.299867804790
Long
EP
CORP
US
N
1
N
N
N
WFRBS COML MTG TR 2011-C4
N/A
WFRBS 2011-C4 G 5% 06/15/44
92936CBD0
3955000.00000000
PA
USD
54020.95000000
0.001180692506
Long
ABS-MBS
CORP
US
N
3
2044-06-15
Variable
0.05000000
N
N
N
N
N
N
NATIXIS COML MTG SECS TR 2018-FL1
N/A
NATIXIS COML MTG SECS TR 2018-FL1 WAN2 TSFR1M+386.448 06/15/2035 144A
63874MBE1
651000.00000000
PA
USD
32550.00000000
0.000711419200
Long
ABS-MBS
CORP
US
N
3
2035-06-15
Variable
0.09130160
N
N
N
N
N
N
EQUITY RESIDENTIAL
5493008RACSH5EP3PI59
EQUITY RESIDENTIAL REIT
29476L107
96200.00000000
NS
USD
5790278.00000000
0.126553454596
Long
EC
CORP
US
N
1
N
N
N
XHR LP
549300M88BPT83ZL2164
XHR LP 4.875% 06/01/2029 144A
98372MAC9
10000000.00000000
PA
USD
9223100.00000000
0.201581887275
Long
DBT
CORP
US
N
2
2029-06-01
Fixed
0.04875000
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2016-BNK2
N/A
MORGAN STANLEY CAP I TR 2016-BNK2 3% 11/15/2049 144A
61690YAC6
2966000.00000000
PA
USD
1368997.93000000
0.029921087964
Long
ABS-MBS
CORP
US
N
2
2049-11-15
Fixed
0.03000000
N
N
N
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP 6.875/VAR PERP PFD
00123Q609
673972.00000000
NS
USD
16566231.76000000
0.362074819010
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
2290000.00000000
PA
USD
2272825.00000000
0.049675310139
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
19193000.00000000
PA
USD
18908964.71000000
0.413278051052
Long
DBT
CORP
US
N
2
2029-01-15
Fixed
0.05300000
N
N
N
N
N
N
VORNADO REALTY TRUST
N/A
VORNADO REALTY TRUST SER M 5.25% PFD PERP
929042828
2000.00000000
NS
USD
31820.00000000
0.000695464177
Long
EP
CORP
US
N
1
N
N
N
BANK 2021-BNK38
N/A
BANK 2021-BNK38 3.21677%/VAR 12/15/2064
06540EBC6
3505000.00000000
PA
USD
2592379.32000000
0.056659552195
Long
ABS-MBS
CORP
US
N
2
2064-12-15
Variable
0.03324636
N
N
N
N
N
N
BMO 2023-C5 MTG TR
N/A
BMO 2023-C5 B MTG TR CSTR 06/15/2056
055988AJ8
4750000.00000000
PA
USD
5063771.23000000
0.110674779767
Long
ABS-MBS
CORP
US
N
2
2056-06-15
Variable
0.06697044
N
N
N
N
N
N
CREST CLARENDON STR 02 1 LTD
N/A
CREST CLARENDON STR 02 1 LTD 3ML+47 12/28/2035 144A
226063204
500000.00000000
PA
USD
0.05000000
0.000000001092
Long
ABS-CBDO
CORP
KY
N
3
2035-12-28
Variable
0.00000000
N
N
N
N
N
N
HYATT HOTELS CORP
T27JQIMTYSH41TCD5186
HYATT HOTELS CORP 5.75% 01/30/2027
448579AQ5
5000000.00000000
PA
USD
5114208.65000000
0.111777149937
Long
DBT
CORP
US
N
2
2027-01-30
Fixed
0.05750000
N
N
N
N
N
N
BLACKSTONE CQP HOLDCO LP
549300LPL012JY5D4B69
CQP HOLDCO TERM B 1L 12/31/2030
12657QAC7
5000000.00000000
PA
USD
4991500.00000000
0.109095205552
Long
LON
CORP
US
N
2
2030-12-31
Variable
0.08348140
N
N
N
N
N
N
AGREE LP
549300DXY3G299V1BO77
AGREE LP 2.6% 06/15/2033
008513AC7
6100000.00000000
PA
USD
4828249.74000000
0.105527175767
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
23000000.00000000
PA
USD
23165213.60000000
0.506303463761
Long
DBT
CORP
US
N
2
2033-08-15
Fixed
0.05500000
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4% PERP PFD
74460W461
47800.00000000
NS
USD
910590.00000000
0.019902034102
Long
EP
CORP
US
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP 6% PFD PERP
756109880
121125.00000000
NS
USD
3040249.61000000
0.066448293325
Long
EP
CORP
US
N
1
N
N
N
BX TR 2019-OC11
N/A
BX TR 2019-OC11 4.075457% 12/09/2041 144A
05606FAN3
22521000.00000000
PA
USD
19362105.45000000
0.423181984173
Long
ABS-MBS
CORP
US
N
2
2041-12-09
Variable
0.04075457
N
N
N
N
N
N
OPG TR 2021-PORT
N/A
OPG TR 2021-PORT G TSFR1M+251.248 10/15/2036 144A
67118AAS4
4588063.08600000
PA
USD
4393070.40000000
0.096015810537
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.07846480
N
N
N
N
N
N
GS MTG SECS CORP TR 2023-SHIP
N/A
GS MTG SECS CORP TR 2023-SHIP CSTR 09/15/2038 144A
36270GAG6
9000000.00000000
PA
USD
8830677.60000000
0.193005026132
Long
ABS-MBS
CORP
US
N
2
2038-09-10
Variable
0.06272974
N
N
N
N
N
N
MSJP 2015-HAUL
N/A
MSJP 2015-HAUL E 5.012% 09/05/2047 144A
553697AN3
1500000.00000000
PA
USD
989416.20000000
0.021624875030
Long
ABS-MBS
CORP
US
N
2
2047-09-05
Variable
0.05012700
N
N
N
N
N
N
WELLS FARGO COML MTG TR 2019-C52
N/A
WELLS FARGO COML MTG TR 2019-C52 3.561% 08/15/2052
95002MBC2
883000.00000000
PA
USD
725292.67000000
0.015852139220
Long
ABS-MBS
CORP
US
N
2
2052-08-15
Fixed
0.03561000
N
N
N
N
N
N
DBUBS 2011 LC3
N/A
DBUBS 2011-LC3A D CSTR 8/44
23305YAM1
2829691.39000000
PA
USD
2520321.23000000
0.055084636411
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05535799
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2019-XL
N/A
BX COMMERCIAL MORTGAGE TRUST 2019-XL G TSFR1M+241.448 10/15/2036 144A
056054AK5
13391750.00800000
PA
USD
13257835.19000000
0.289765852997
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.07747640
N
N
N
N
N
N
KIMCO REALTY OP LLC
549300EA7I6T15IBYS12
KIMCO REALTY OP LLC 6.4% 03/01/2034
49447BAA1
9424000.00000000
PA
USD
10195959.99000000
0.222844906524
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
5295000.00000000
PA
USD
4775282.51000000
0.104369513573
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
1452443.00000000
NS
USD
37037296.50000000
0.809494435497
Long
EP
CORP
US
N
1
N
N
N
BANK AMER MERRILL LYNCH COML MTG TR 2016-UBS10
N/A
BACM 2016-UBS10 CSTR 06/49
06054MAK9
3030000.00000000
PA
USD
2829971.22000000
0.061852407483
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.04985620
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4.75% SER K PFD PERP
74460W578
596000.00000000
NS
USD
13225240.00000000
0.289053446115
Long
EP
CORP
US
N
1
N
N
N
DIGITAL REALTY TRUST INC
549300HKCZ31D08NEI41
DIGITAL RLTY TR INC 5.25% PFD PERP
253868855
32900.00000000
NS
USD
744856.00000000
0.016279719208
Long
EP
CORP
US
N
1
N
N
N
BRAEMAR HOTELS and RESORTS INC
549300JDUUEBN868C776
BRAEMAR HOTELS and RESORTS INC SER D 8.25% PFD PERP
10482B309
173050.00000000
NS
USD
3668660.00000000
0.080182954383
Long
EP
CORP
US
N
1
N
N
N
SUNBELT MEZZ
N/A
SUNBELT MEZZ SOFR+445 01/21/2027
N/A
6964657.19000000
PA
USD
6964657.19000000
0.152220917108
Long
LON
CORP
US
N
3
2027-01-21
Variable
0.09917180
N
N
N
N
N
N
SITE CENTERS CORP
W2AVA6SODOQ1LCYJQR54
SITE CENTERS CORP
82981J109
1379438.00000000
NS
USD
18374114.16000000
0.401588252255
Long
EC
CORP
US
N
1
N
N
N
PENNSYLVANIA REAL EST INVT TR
5493001GPBXRIG8WJO70
PENNSLVNA 7.375% PFD PERP
709102503
99385.00000000
NS
USD
43306.02000000
0.000946504889
Long
EP
CORP
US
N
1
N
N
N
RLJ LODGING TRUST LP
549300RX5I8Z6I6LDZ74
RLJ LODGING TRUST LP 4% 09/15/2029 144A
74965LAB7
4835000.00000000
PA
USD
4279125.71000000
0.093525412985
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
6000000.00000000
PA
USD
6061593.54000000
0.132483380391
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
15960000.00000000
PA
USD
14347720.80000000
0.313586607210
Long
DBT
CORP
US
N
2
2029-06-15
Fixed
0.04500000
N
N
N
N
N
N
MSWF COML MTG TR 2023-1
N/A
MSWF COML MTG TR 2023-1 5.752% 05/15/2056
55376CAJ2
16000000.00000000
PA
USD
16952124.80000000
0.370508973176
Long
ABS-MBS
CORP
US
N
2
2056-05-15
Fixed
0.05752000
N
N
N
N
N
N
JPMDB COML MTG SECS TR 2018-C8
N/A
JPMDB COML MTG SECS TR 2018-C8 CSTR 06/15/2051 144A
46591AAG0
1698000.00000000
PA
USD
1143283.27000000
0.024987823969
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
78225.00000000
NS
USD
1701393.75000000
0.037185996370
Long
EP
CORP
US
N
1
N
N
N
BMO 2023-C5 MTG TR
N/A
BMO 2023-C5 MTG TR 5.7653% 06/15/2056
055988AD1
22850000.00000000
PA
USD
24285692.92000000
0.530792880116
Long
ABS-MBS
CORP
US
N
2
2056-06-15
Fixed
0.05765300
N
N
N
N
N
N
STWD TR 2021-LIH
N/A
STWD TR 2021-LIH TSFR1M+295 11/15/2036 144A
78486EAQ1
4985000.00000000
PA
USD
4802912.91000000
0.104973409029
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.08351000
N
N
N
N
N
N
WP CAREY INC
54930042CRNE713E3Q67
WP CAREY INC 3.85% 07/15/2029
92936UAF6
3000000.00000000
PA
USD
2822187.42000000
0.061682283220
Long
DBT
CORP
US
N
2
2029-07-15
Fixed
0.03850000
N
N
N
N
N
N
HOME PARTNERS AMER 2021-2 TR
N/A
HOME PARTNERS AMER 2021-2 TR 4.505% 12/17/2026 144A
43732VAN6
27719379.77400000
PA
USD
24350607.51000000
0.532211666160
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
68938.00000000
NS
USD
841043.60000000
0.018382014308
Long
EP
CORP
US
N
1
N
N
N
VORNADO REALTY TRUST
N/A
VORNADO RLTY SR L 5.4% PFD PRP
929042844
30100.00000000
NS
USD
499208.50000000
0.010910799142
Long
EP
CORP
US
N
1
N
N
N
SABRA HEALTH CARE LP
549300OVKLRFSIQG0H81
SABRA HEALTH CARE LP 5.125% 08/15/2026
14162VAB2
20264000.00000000
PA
USD
19960791.39000000
0.436266981806
Long
DBT
CORP
US
N
2
2026-08-15
Fixed
0.05125000
N
N
N
N
N
N
PRIMA CAP LTD 2021-9A
N/A
PRIMA CAP LTD 2021-9A C TSFR1M+246.448 12/15/2037 144A
74167FAA8
5000000.00000000
PA
USD
4835079.00000000
0.105676437417
Long
ABS-MBS
CORP
US
N
2
2037-12-15
Variable
0.07799260
N
N
N
N
N
N
SABRA HEALTH CARE REIT INC
549300E3BC7GU7TAZ621
SABRA HEALTHCARE REIT INC
78573L106
604175.00000000
NS
USD
8059694.50000000
0.176154267889
Long
EC
CORP
US
N
1
N
N
KENNEDY-WILSON INC
5EA4464UK7FM5QNNKL62
KENNEDY-WILSON INC 4.75% 03/01/2029
489399AL9
17075000.00000000
PA
USD
14295190.00000000
0.312438483715
Long
DBT
CORP
US
N
2
2029-03-01
Fixed
0.04750000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2020-NNN
N/A
JPMCC 2020-NNN FFX 4.6254% 01/16/2037 144A
46652BBN8
2000000.00000000
PA
USD
642687.20000000
0.014046697824
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
3808000.00000000
PA
USD
336455.84000000
0.007353645001
Long
ABS-MBS
CORP
US
N
2
2035-07-15
Variable
0.08231000
N
N
N
N
N
N
SUN CMNTYS OPER LTD PRTNRSHP
549300PUNBPJCGT6X741
SUN CMNTYS OPER LTD PRTNRSHP 4.2% 04/15/2032
866677AH0
11439000.00000000
PA
USD
10388772.60000000
0.227059056844
Long
DBT
CORP
US
N
2
2032-04-15
Fixed
0.04200000
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC
22822V101
541210.00000000
NS
USD
58585982.50000000
1.280466754152
Long
EC
CORP
US
N
1
N
N
N
HILTON USA TR 2016-HHV
N/A
HILT 2016-HHV F CSTR 11/38 144A
43300LAQ3
20270000.00000000
PA
USD
18622507.10000000
0.407017177197
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
1422000.00000000
PA
USD
1196314.88000000
0.026146893266
Long
DBT
CORP
US
N
2
2030-09-15
Fixed
0.02700000
N
N
N
N
N
N
SUNSTONE HOTEL INVS INC NEW
529900ZQ2V52V96ATF67
SUNSTONE HOTEL INVS INC
867892101
161900.00000000
NS
USD
1727473.00000000
0.037755989586
Long
EC
CORP
US
N
1
N
N
N
GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP
N/A
GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP 3.75% 12/15/2027 144A
37892AAA8
5075000.00000000
PA
USD
4305231.26000000
0.094095981020
Long
DBT
CORP
US
N
2
2027-12-15
Fixed
0.03750000
N
N
N
N
N
N
BX TR 2021-ACNT
N/A
BX TR 2021-ACNT TSFR1M+340.948 3 11/15/2026 144A
05609QAN6
15581000.00000000
PA
USD
14995082.73000000
0.327735476852
Long
ABS-MBS
CORP
US
N
2
2038-11-15
Variable
0.08742480
N
N
N
N
N
N
JPMDB COML MTG SECS TR 2019
N/A
JPMDB 2019-COR6 A4 3.0565% 11/13/52
48129RAX3
8000000.00000000
PA
USD
6664804.80000000
0.145667284308
Long
ABS-MBS
CORP
US
N
2
2052-11-13
Fixed
0.03056500
N
N
N
N
N
N
UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC
N/A
UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC 6.5% 02/15/2029 144A
91327BAA8
27505000.00000000
PA
USD
19401828.96000000
0.424050189019
Long
DBT
CORP
US
N
2
2029-02-15
Fixed
0.06500000
N
N
N
N
N
N
BBCMS MTG TR 2022-C16
N/A
BBCMS MTG TR 2022-C16 CSTR 06/15/2055
05552YAL0
5250000.00000000
PA
USD
4325867.70000000
0.094547015110
Long
ABS-MBS
CORP
US
N
2
2055-06-15
Variable
0.04600000
N
N
N
N
N
N
TIMES SQUARE HOTEL TR
N/A
TIMES SQUARE HOTEL TR 8.528% 08/01/2026 144A
887367AA8
2543620.76410000
PA
USD
2541990.56000000
0.055558245548
Long
DBT
CORP
US
N
2
2026-08-01
Fixed
0.08528000
N
N
N
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 3.375% 02/01/2031
681936BM1
5000000.00000000
PA
USD
4286611.75000000
0.093689029348
Long
DBT
CORP
US
N
2
2031-02-01
Fixed
0.03375000
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2020-VIVA
N/A
BX COMMERCIAL MORTGAGE TRUST 2020-VIVA E 3.54875% 03/09/2044 144A
12433XAJ8
20898990.00000000
PA
USD
17085033.00000000
0.373413840931
Long
ABS-MBS
CORP
US
N
2
2044-03-11
Variable
0.03667042
N
N
N
N
N
N
BANK 2022-BNK44
N/A
BANK 2022-BNK44 5.746245% 11/15/2055
06540KAJ8
15900000.00000000
PA
USD
16913621.82000000
0.369667444474
Long
ABS-MBS
CORP
US
N
2
2055-11-15
Variable
0.05936656
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 2.7% 04/15/2031
03027XBM1
2000000.00000000
PA
USD
1714196.96000000
0.037465825845
Long
DBT
CORP
US
N
2
2031-04-15
Fixed
0.02700000
N
N
N
N
N
N
EPR PROPERTIES
549300YSSXFHMPOWZ492
EPR PPTYS 4.95% 04/15/2028
26884UAE9
8000000.00000000
PA
USD
7686900.16000000
0.168006401486
Long
DBT
CORP
US
N
2
2028-04-15
Fixed
0.04950000
N
N
N
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP
64828T201
385699.00000000
NS
USD
4126979.30000000
0.090200071130
Long
EC
CORP
US
N
1
N
N
N
CREDIT SUISSE COM MTG TR 2021
N/A
CREDIT SUISSE COM MTG TR 2021-SOP2 F STEP 06/15/2034 144A
12657VAQ5
7120000.00000000
PA
USD
3244252.21000000
0.070907014267
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
5141000.00000000
PA
USD
51348.31000000
0.001122278760
Long
ABS-MBS
CORP
US
N
3
2062-12-15
Variable
0.03404110
N
N
N
N
N
N
INVITATION HOMES INC
N/A
INVITATION HOMES INC
46187W107
544100.00000000
NS
USD
17917213.00000000
0.391602130655
Long
EC
CORP
US
N
1
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TRUST
74965L101
407900.00000000
NS
USD
4723482.00000000
0.103237351440
Long
EC
CORP
US
N
1
N
N
N
PARK INTERMEDIATE HOLDINGS LLC / PK DOMESTIC PROPERTY LLC / PK FINANCE CO-ISSUER
N/A
PARK INTERMEDIATE HOLDINGS LLC / PK DOMESTIC PROPERTY LLC / PK FINANCE CO-ISSUER 4.875% 05/15/2029 144A
70052LAC7
7000000.00000000
PA
USD
6413750.00000000
0.140180181230
Long
DBT
CORP
US
N
2
2029-05-15
Fixed
0.04875000
N
N
N
N
N
N
VENTAS RLTY LTD PARTNERSHIP
32SXKSJ72K64GM3HOU64
VENTAS RLTY LTD PARTNERSHIP 2.5% 09/01/2031
92277GAW7
1500000.00000000
PA
USD
1232333.09000000
0.026934114347
Long
DBT
CORP
US
N
2
2031-09-01
Fixed
0.02500000
N
N
N
N
N
N
MHP 2022-MHIL F
N/A
MHP 2022-MHIL F TSFR1M+325.92 01/15/2027 144A
55293DAL5
3924497.85000000
PA
USD
3804130.36000000
0.083143821210
Long
ABS-MBS
CORP
US
N
2
2027-01-15
Variable
0.08592360
N
N
N
N
N
N
BENCHMARK 2023-B38 MTG TR
N/A
BENCHMARK 2023-B38 A4 MTG TR 5.5246% 04/15/2056
081916AE8
21000000.00000000
PA
USD
21940671.90000000
0.479539639566
Long
ABS-MBS
CORP
US
N
2
2056-04-15
Fixed
0.05524600
N
N
N
N
N
N
GLOBAL NET LEASE INC
549300NUYANCT5SU8Z65
GLOBAL NET LEASE INC 7.375% PFD PERP E
379378607
379839.00000000
NS
USD
8109562.65000000
0.177244195982
Long
EP
CORP
US
N
1
N
N
N
BX COML MTG TR 2024-XL4
N/A
BX COML MTG TR 2024-XL4 TSFR1M+418.81 02/15/2039 144A
05611VAJ0
5000000.00000000
PA
USD
4987500.00000000
0.109007780766
Long
ABS-MBS
CORP
US
N
2
2039-02-15
Variable
0.09188080
N
N
N
N
N
N
GS MTG SECS CORP TR 2019-70P
N/A
GS MTG SECS CORP TR 2019-70P E TSFR1M+231.448 10/15/2036 144A
36257MAQ8
7437000.00000000
PA
USD
6875459.65000000
0.150271398134
Long
ABS-MBS
CORP
US
N
2
2036-10-15
Variable
0.07898480
N
N
N
N
N
N
ELME COMMUNITIES
549300DI34BGS8LVKW95
ELME COMMUNITIES
939653101
755647.00000000
NS
USD
10941768.56000000
0.239145445289
Long
EC
CORP
US
N
1
N
N
N
EXTRA SPACE STORAGE LP
549300YNKSKNZFR8UC42
EXTRA SPACE STORAGE LP 5.9% 01/15/2031
30225VAR8
9000000.00000000
PA
USD
9356901.12000000
0.204506270865
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
9000000.00000000
PA
USD
8661645.99000000
0.189310638025
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
1108086.00000000
NS
USD
22726843.86000000
0.496722368521
Long
EP
CORP
US
N
1
N
N
N
BANK 2020-BNK30
N/A
BANK 2020-BN30 MCDG CSTR 12/53
06541UBJ4
2000000.00000000
PA
USD
802908.60000000
0.017548528249
Long
ABS-MBS
CORP
US
N
3
2053-12-15
Variable
0.03015504
N
N
N
N
N
N
MID-AMERICA APT CMNTYS INC
549300FQZKFR5YNSHZ21
MID AMERICA APT CMNTY INC
59522J103
221706.00000000
NS
USD
28019204.28000000
0.612393238576
Long
EC
CORP
US
N
1
N
N
N
NATIXIS COML MTG SECS TR 2020-2PAC
N/A
NATIXIS COML MTG SECS TR 2020-2PAC AMZ3 VAR 01/15/2025 144A
63875DAS0
2502675.00000000
PA
USD
1670209.21000000
0.036504420931
Long
ABS-MBS
CORP
US
N
3
2037-01-15
Variable
0.03616667
N
N
N
N
N
N
ELP COMMERCIAL MORTGAGE TRUST 2021-ELP
N/A
ELP COMMERCIAL MORTGAGE TRUST 2021-ELP TSFR1M+372.938 49 11/15/2036 144A
26863LAS3
15430039.80000000
PA
USD
14689431.84000000
0.321055110896
Long
ABS-MBS
CORP
US
N
2
2038-11-15
Variable
0.09063380
N
N
N
N
N
N
ENBRIDGE INC
98TPTUM4IVMFCZBCUR27
ENBRIDGE INC SER 1 4% PFD PERP
29250N717
498275.00000000
NS
USD
10722878.00000000
0.234361330166
Long
EP
CORP
CA
N
1
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 5.9% 11/15/2033
03027XCF5
5000000.00000000
PA
USD
5275543.95000000
0.115303325979
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
436000.00000000
PA
USD
435880.23000000
0.009526684020
Long
DBT
CORP
US
N
2
2026-06-01
Fixed
0.04875000
N
N
N
N
N
N
UMH PPTYS INC
529900OM5K3PJ11F0Q09
UMH PROPERTIES INC
903002103
335723.00000000
NS
USD
5072774.53000000
0.110871557662
Long
EC
CORP
US
N
1
N
N
N
AGNC INVESTMENT CORP
5TRACI5HRMELWV32OF39
AGNC INVESTMENT CORP SER E 6.5%/VAR PFD PERP
00123Q807
1202034.00000000
NS
USD
29221446.54000000
0.638669681825
Long
EP
CORP
US
N
1
N
N
N
PEBBLEBROOK HOTEL TRUST
5493004Q1NNH6JXCSI52
PEBBLEBROOK HOTEL TRUST 6.375% PERP PFD
70509V803
666800.00000000
NS
USD
13869440.00000000
0.303133207994
Long
EP
CORP
US
N
1
N
N
N
DTP COML MTG TR 2023-STE2
N/A
DTP COML MTG TR 2023-STE2 C CSTR 01/15/2041 144A
23346GAE9
8800000.00000000
PA
USD
8694896.32000000
0.190037363776
Long
ABS-MBS
CORP
US
N
2
2041-01-15
Variable
0.06689139
N
N
N
N
N
N
ANNALY CAPITAL MANAGEMENT INC
2DTL0G3FPRYUT58TI025
ANNALY CAPITAL MANAGEMENT INC SER I 6.75/VAR PFD PERP
035710847
192992.00000000
NS
USD
4815150.40000000
0.105240874016
Long
EP
CORP
US
N
1
N
N
N
GS MTG SECS TR 2012-GCJ9
N/A
GS MTG SECS TR 2012-GCJ9 E CSTR 11/10/2045 144A
36192PAN6
1908000.00000000
PA
USD
1589058.72000000
0.034730779864
Long
ABS-MBS
CORP
US
N
3
2045-11-10
Variable
0.04754281
N
N
N
N
N
N
VICI PROPERTIES LP
254900X4QE7SGKQLLN38
VICI PROPERTIES LP 4.75% 02/15/2028
925650AB9
5000000.00000000
PA
USD
4895792.20000000
0.107003397055
Long
DBT
CORP
US
N
2
2028-02-15
Fixed
0.04750000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2018-AON
N/A
J P MORGAN CHASE COML MTG SECS TR 2018-AON-F 4.6132% 07/05/2031 144A
46649XAU1
5039000.00000000
PA
USD
1053666.99000000
0.023029152931
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
354687418.14000000
NS
USD
354758355.62000000
7.753668381836
Long
STIV
RF
US
N
1
N
N
N
BMO 2023-C7 MTG TR
N/A
BMO 2023-C7 AS MTG TR CSTR 12/15/2056
05593FAH1
5000000.00000000
PA
USD
5471051.00000000
0.119576366510
Long
ABS-MBS
CORP
US
N
2
2056-12-15
Variable
0.06673800
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 5.1% 08/01/2033
74460WAG2
10000000.00000000
PA
USD
10190819.30000000
0.222732550592
Long
DBT
CORP
US
N
2
2033-08-01
Fixed
0.05100000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT
02665T306
621100.00000000
NS
USD
21769555.00000000
0.475799674951
Long
EC
CORP
US
N
1
N
N
N
REALTY INCOME CORP
549300CUWDAUZSH43859
REALTY INCOME CORP REIT
756109104
389382.00000000
NS
USD
21178486.98000000
0.462881176075
Long
EC
CORP
US
N
1
N
N
N
SUGARHOUSE HSP GAMING PROP MEZZ LP / SUGARHOUSE HSP GAMING FIN CORP
N/A
SUGARHOUSE HS GMNG MEZZ LP/CRP 5.875% 05/15/2025 144A
865033AC8
8000000.00000000
PA
USD
7902720.00000000
0.172723402349
Long
DBT
CORP
US
N
2
2025-05-15
Fixed
0.05875000
N
N
N
N
N
N
COMM 2012-CCRE2 MTG TR
N/A
COMM 2012-CR2 F 4.25% 8/45
12624KBA3
2000000.00000000
PA
USD
1620000.00000000
0.035407038564
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
304746.00000000
NS
USD
13911654.90000000
0.304055865149
Long
EC
CORP
US
N
1
N
N
N
EPR PROPERTIES
549300YSSXFHMPOWZ492
EPR PPTYS 3.6% 11/15/2031
26884UAG4
2000000.00000000
PA
USD
1672731.74000000
0.036559553843
Long
DBT
CORP
US
N
2
2031-11-15
Fixed
0.03600000
N
N
N
N
N
N
J P MORGAN CHASE COML MTG SECS TR 2013-LC11
N/A
JP MORGAN CH CMS 13-LC11 D CSTR 04/15/2046
46639YAX5
7722000.00000000
PA
USD
3448413.54000000
0.075369204443
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
377000.00000000
NS
USD
7634250.00000000
0.166855669235
Long
EP
CORP
US
N
1
N
N
N
SG COML MTG SECS TR 2020-COVE
N/A
SG COMMERCIAL MORTGAGE SECURITIES TRUST 2020-COVE F CSTR 03/15/2037 144A
78397FAL7
5000000.00000000
PA
USD
4335890.50000000
0.094766075398
Long
ABS-MBS
CORP
US
N
2
2037-03-15
Variable
0.03851822
N
N
N
N
N
N
LAMAR MEDIA CORP
N/A
LAMAR MEDIA CORP 4% 02/15/2030
513075BT7
5875000.00000000
PA
USD
5376212.50000000
0.117503557604
Long
DBT
CORP
US
N
2
2030-02-15
Fixed
0.04000000
N
N
N
N
N
N
COMM 2012-CCRE2 MTG TR
N/A
COMM 2012-CR2 E CSTR 8/45
12624KAY2
2246651.32000000
PA
USD
2182621.76000000
0.047703810387
Long
ABS-MBS
CORP
US
N
2
2045-08-15
Variable
0.04686125
N
N
N
N
N
N
CHIMERA INVESTMENT CORP
2JBBQFJOL123LOUBE657
CHIMERA INVESTMENT CORP SER B 8%/VAR PREF PERP
16934Q406
673204.00000000
NS
USD
16305000.88000000
0.356365305527
Long
EP
CORP
US
N
1
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LEXINGTON RLTY 6.5 CV PFD PERPPAR=50
529043309
440102.00000000
NS
USD
20263994.87000000
0.442893856689
Long
EP
CORP
US
N
2
N
N
N
BBCMS MTG TR 2020-C7
N/A
BBCMS MTG TR 2020-C7 CSTR 04/15/2053
05492VAL9
2067000.00000000
PA
USD
1515533.08000000
0.033123789018
Long
ABS-MBS
CORP
US
N
2
2053-04-15
Variable
0.03715367
N
N
N
N
N
N
RETAINED VANTAGE DATA CTRS ISSUER LLC / VANTAGE DATA CTRS CDA QC4 LTD PARTNERSHIP
N/A
RETAINED VANTAGE DATA CTRS ISSUER LLC / VANTAGE DATA CTRS CDA QC4 LTD PARTNERSHIP 2023-2A A2 5.05% 09/15/2048 144A
76134KAE4
4000000.00000000
PA
USD
3684218.80000000
0.080523010575
Long
ABS-CBDO
CORP
US
N
2
2048-09-15
Fixed
0.05050000
N
N
N
N
N
N
SAUL CENTERS INC
N/A
SAUL CENTERS INC 6% SER E PFD PERP
804395879
76841.00000000
NS
USD
1771953.46000000
0.038728163267
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
1614663.50000000
PA
USD
30368.11000000
0.000663731383
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
120000.00000000
NS
USD
2498400.00000000
0.054605521697
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
121565.00000000
NS
USD
1524425.10000000
0.033318134755
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
249550.00000000
NS
USD
5905600.75000000
0.129073971298
Long
EP
CORP
US
N
1
N
N
N
SREIT TR 2021-MFP2
N/A
SREIT TR 2021-MFP2 TSFR1M+402.998 55 11/15/2036 144A
85236WCU8
10872000.00000000
PA
USD
10519629.78000000
0.229919097102
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.09362980
N
N
N
N
N
N
BENCHMARK 2022-B32 MTG TR
N/A
BENCHMARK 2022-B32 MTG TR 3.0019% 01/15/2055
08163NBJ3
9618000.00000000
PA
USD
8103111.14000000
0.177103190510
Long
ABS-MBS
CORP
US
N
2
2055-01-15
Fixed
0.03001900
N
N
N
N
N
N
KITE REALTY GROUP LP
549300X6R2GYI8Y3OD81
KITE REALTY GROUP LP 5.5% 03/01/2034
49803XAE3
7000.00000000
PA
USD
6969.48000000
0.000152326325
Long
DBT
CORP
US
N
2
2034-03-01
Fixed
0.05500000
N
N
N
N
N
N
BX 2021-VOLT
N/A
BX 2021-VOLT G TSFR1M+296.448 09/15/2023 144A
05609VAS4
5000000.00000000
PA
USD
4813849.50000000
0.105212441290
Long
ABS-MBS
CORP
US
N
2
2036-09-15
Variable
0.08297640
N
N
N
N
N
N
ESSEX PORTFOLIO LP
5493003GN3O58H286O74
ESSEX PORTFOLIO LP 2.65% 03/15/2032
29717PAV9
3000000.00000000
PA
USD
2508605.19000000
0.054828568336
Long
DBT
CORP
US
N
2
2032-03-15
Fixed
0.02650000
N
N
N
N
N
N
CITIGROUP COML MTG TR 2019-C7
N/A
CITIGROUP COMMERCIAL MORTGAGE TRUST 2019-C7 3.102% 12/15/2072
17328CAD4
4820000.00000000
PA
USD
4348320.10000000
0.095037739180
Long
ABS-MBS
CORP
US
N
2
2072-12-15
Fixed
0.03102000
N
N
N
N
N
N
PKHL COML MTG TR 2021-MF
N/A
PKHL COMML MTG 2021-MF E TSFR1M+271.448 07/15/2038 144A
69356GAN9
500000.00000000
PA
USD
381284.90000000
0.008333437752
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.08076480
N
N
N
N
N
N
CBRE SERVICES INC
549300CTE3HOMEUMM603
CBRE SERVICES INC 5.95% 08/15/2034
12505BAG5
27250000.00000000
PA
USD
28192902.87000000
0.616189629116
Long
DBT
CORP
US
N
2
2034-08-15
Fixed
0.05950000
N
N
N
N
N
N
BBCMS MORTGAGE TRUST 2023-C20
N/A
BBCMS MORTGAGE TRUST 2023-C20 A5 5.576% 07/15/2056
07336DAW1
24250000.00000000
PA
USD
25573358.88000000
0.558936360550
Long
ABS-MBS
CORP
US
N
2
2056-07-15
Fixed
0.05576000
N
N
N
N
N
N
KNDR 2021-KIND F
N/A
KNDR 2021-KIND F TSFR1M+406.448 08/15/2026 144A
482606AS9
7096315.35200000
PA
USD
6572749.91000000
0.143655314530
Long
ABS-MBS
CORP
US
N
2
2038-08-15
Variable
0.09397480
N
N
N
N
N
N
RETAIL VALUE INC
549300VO5RB7323N1Z31
RETAIL VALUE INC (ESCROW LINE)
76133Q102
274131.00000000
NS
USD
2.74000000
0.000000059885
Long
EC
CORP
US
N
3
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP
64828T300
505904.00000000
NS
USD
12278290.08000000
0.268356722451
Long
EP
CORP
US
N
1
N
N
N
BENCHMARK 2020-B18 MORTGAGE TRUST
N/A
BENCHMARK 2020-B18 MORTGAGE TRUST 4.534% 07/15/2053 144A
08163ABT9
11379000.00000000
PA
USD
9960176.39000000
0.217691573797
Long
ABS-MBS
CORP
US
N
2
2053-07-15
Variable
0.04534773
N
N
N
N
N
N
BX COMMERCIAL MORTGAGE TRUST 2019-IMC
N/A
BX COMMERCIAL MORTGAGE TRUST 2019-IMC G TSFR1M+371.448 04/15/2034 144A
05608BAS9
5181000.00000000
PA
USD
5106763.52000000
0.111614427711
Long
ABS-MBS
CORP
US
N
2
2034-04-15
Variable
0.08979300
N
N
N
N
N
N
DIGITAL REALTY TRUST LP
CD4SPTZ3YBTHY0C1AH38
DIGITAL REALTY TRUST LP 3.6% 07/01/2029
25389JAU0
5000000.00000000
PA
USD
4687659.00000000
0.102454396908
Long
DBT
CORP
US
N
2
2029-07-01
Fixed
0.03600000
N
N
N
N
N
N
RLJ LODGING TR
N/A
RLJ LODGING TR SER A PC 1.95% PERP
74965L200
31585.00000000
NS
USD
789625.00000000
0.017258199275
Long
EP
CORP
US
N
2
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS IN SR Q 8.54% PFD PRP
74340W202
93396.00000000
NS
USD
5118287.59000000
0.111866300051
Long
EP
CORP
US
N
1
N
N
N
CAPITAL TR RE CDO 05-1 LTD COR
549300EO21RSSTCI1873
CTCDO 2005-1A D TSFR1M+161.448 3/50
140558AD9
2250000.00000000
PA
USD
0.23000000
0.000000005026
Long
ABS-CBDO
CORP
KY
N
3
2050-03-20
Variable
0.03346380
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4.7% SER J PFD PERP
74460W594
564700.00000000
NS
USD
12361283.00000000
0.270170632030
Long
EP
CORP
US
N
1
N
N
N
SBA SENIOR FINANCE II LLC
549300PVT2ADFWMYEW87
SBA COMMUNICATIONS TERM B 1LN 01/27/2031
78404XAJ4
7978891.82000000
PA
USD
7966444.75000000
0.174116183016
Long
LON
CORP
US
N
2
2031-01-27
Variable
0.00000000
N
N
N
N
N
N
TWO HARBORS INVESTMENT COR
549300ZUIBT6KH4HU823
TWO HARBORS INVESTMENT COR CONV 6.25% 01/15/2026
90187BAB7
4896000.00000000
PA
USD
4602240.00000000
0.100587462446
Long
DBT
CORP
US
N
2
2026-01-15
Fixed
0.06250000
N
N
N
N
N
TWO HARBORS INVESTMENT COR
TWO HBRS INVT CORP
USD
XXXX
N
N
N
MIRA TR 2023-MILE
N/A
MIRA TR 2023-MILE 7.2026% 06/10/2038 144A
55318EAE0
4200000.00000000
PA
USD
4310446.56000000
0.094209967642
Long
ABS-MBS
CORP
US
N
2
2038-06-10
Fixed
0.07202600
N
N
N
N
N
N
WP GLIMCHER MALL TR 15-WPG
N/A
JPMDB 2015-WPG PR2 CSTR 06/35
92939VAN4
2541000.00000000
PA
USD
2036045.62000000
0.044500213448
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
12000000.00000000
PA
USD
12269313.60000000
0.268160530739
Long
DBT
CORP
US
N
2
2028-01-15
Fixed
0.05550000
N
N
N
N
N
N
AGELLAN PORTFOLIO
N/A
AGELLAN PORTFOLIO 9% 08/07/2025
N/A
6611000.00000000
PA
USD
6611000.00000000
0.144491316019
Long
LON
CORP
US
N
3
2025-08-07
Fixed
0.09000000
N
N
N
N
N
N
GREAT AJAX CORP
5493004ID2QQWNGDYC18
GREAT AJAX CORP PC 7.25% 4/30/24
38983D409
611442.00000000
NS
USD
15212676.96000000
0.332491259132
Long
EP
CORP
US
N
2
N
N
N
WELLS FARGO COML MTG TR 2016-NXS6
549300CFP9NBBMZH1008
WELLS FARGO COML MTG TR 2016-NXS6 D 3.059% 11/15/2049 144A
95000KAJ4
5037000.00000000
PA
USD
3986842.42000000
0.087137211923
Long
ABS-MBS
CORP
US
N
2
2049-11-15
Fixed
0.03059000
N
N
N
N
N
N
CITIGROUP COML MTG TR 2023-PRM3
N/A
CITIGROUP COML MTG TR 2023-PRM3 C 6.35973% 07/10/2028 144A
17331LAE7
5500000.00000000
PA
USD
5453323.15000000
0.119188903134
Long
ABS-MBS
CORP
US
N
2
2028-07-10
Variable
0.06571721
N
N
N
N
N
N
ARBOR REALTY TRUST INC
549300ASFUWYQO0RW077
ARBOR REALTY TRUST INC SER D 6.375% PERP PFD
038923876
126100.00000000
NS
USD
2282410.00000000
0.049884801784
Long
EP
CORP
US
N
1
N
N
N
BANK 2022-BNK42
N/A
BANK 2022-BNK42 C CSTR 06/15/2055
06541MCF9
6500000.00000000
PA
USD
5519035.60000000
0.120625127363
Long
ABS-MBS
CORP
US
N
2
2055-06-15
Variable
0.04722229
N
N
N
N
N
N
AMERICAN HOMES 4 RENT LP
549300N4PXZ37U8QKI55
AMERICAN HOMES 4 RENT LP 4.9% 02/15/2029
02666TAB3
13000000.00000000
PA
USD
12899420.04000000
0.281932260998
Long
DBT
CORP
US
N
2
2029-02-15
Fixed
0.04900000
N
N
N
N
N
N
MFA FINANCIAL INC
YW72IMH2RRC8Z1TGLG58
MFA FINANCIAL INC
55272X607
1231885.00000000
NS
USD
13636966.95000000
0.298052231298
Long
EC
CORP
US
N
1
N
N
N
PENNYMAC MORTGAGE INVESTMENT TRUST
549300BSSOQO1ZWDUJ97
PENNYMAC MTG INVT TR 8%/VAR SER B PREF PERP
70931T400
597708.00000000
NS
USD
14135794.20000000
0.308954697766
Long
EP
CORP
US
N
1
N
N
N
SBA SENIOR FINANCE II LLC
549300PVT2ADFWMYEW87
SBA COMMUNICATIONS TERM B 1LN 04/11/2025
78404XAH8
11955214.55600000
PA
USD
11927837.11000000
0.260697153423
Long
LON
CORP
US
N
2
2025-04-11
Variable
0.07210000
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE 4.875% SER I PFD PERP
74460W628
75000.00000000
NS
USD
1756500.00000000
0.038390409406
Long
EP
CORP
US
N
1
N
N
N
IMT TR 2017-APTS
N/A
IMTT 2017-APTS EFX CSTR 06/15/2034 144A
44974ABE6
9213000.00000000
PA
USD
8997386.32000000
0.196648644699
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
4741000.00000000
PA
USD
4290605.00000000
0.093776306605
Long
ABS-MBS
CORP
US
N
2
2046-01-10
Fixed
0.03500000
N
N
N
N
N
N
FEDERAL NAT MTG ASN GTD REM PA
N/A
FNW 2002-W1 3B3 CSTR 2/42
31392CMZ4
21138.64960000
PA
USD
9051.50000000
0.000197831363
Long
ABS-CBDO
USGSE
US
N
3
2042-02-25
Variable
0.03652240
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 4.05% 03/15/2032
03027XBW9
27000000.00000000
PA
USD
25226864.10000000
0.551363302502
Long
DBT
CORP
US
N
2
2032-03-15
Fixed
0.04050000
N
N
N
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 C 5.47 8/44
36191YAJ7
8899000.00000000
PA
USD
6574909.57000000
0.143702516484
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
1023942.00000000
NS
USD
24410777.28000000
0.533526748485
Long
EP
CORP
US
N
1
N
N
N
ELLINGTON FINANCIAL INC
60GS1D1R1YY5G1W7IT74
ELLINGTON FINANCIAL INC 6.75/VAR PFD PERP
28852N208
212370.00000000
NS
USD
5113869.60000000
0.111769739593
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
9000000.00000000
PA
USD
7475669.37000000
0.163389699802
Long
DBT
CORP
US
N
2
2031-07-15
Fixed
0.02700000
N
N
N
N
N
N
CITIGROUP COML MTG TR 2023-SMRT
N/A
CITIGROUP COML MTG TR 2023-SMRT 6.09935% 06/10/2028 144A
17291NAC5
5000000.00000000
PA
USD
5055577.50000000
0.110495695993
Long
ABS-MBS
CORP
US
N
2
2040-10-12
Variable
0.06047503
N
N
N
N
N
N
BBCMS MTG TR 2022-C17
N/A
BBCMS MTG TR 2022-C17 D 2.5% 09/15/2055 144A
054976AR6
2000000.00000000
PA
USD
1203634.40000000
0.026306870134
Long
ABS-MBS
CORP
US
N
2
2055-09-15
Fixed
0.02500000
N
N
N
N
N
N
BBCMS MTG TR 2023-5C23
N/A
BBCMS MTG TR 2023-5C23 7.7032% 12/15/2056
05493QAD7
2500000.00000000
PA
USD
2677678.75000000
0.058523873311
Long
ABS-MBS
CORP
US
N
2
2056-12-15
Fixed
0.07703207
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
1182550.65000000
PA
USD
1154101.67000000
0.025224273047
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.05108652
N
N
N
N
N
N
PILOT TRAVEL CTRS LLC
549300115UILLXNE1Z49
PILOT TRAVEL CENTERS TERM B 1LN 08/04/2028
72165NBH1
13250000.00000000
PA
USD
13227872.50000000
0.289110982553
Long
LON
CORP
US
N
2
2028-08-04
Variable
0.07432600
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 2.25% 01/15/2031
22822VAT8
14000000.00000000
PA
USD
11568621.54000000
0.252846067288
Long
DBT
CORP
US
N
2
2031-01-15
Fixed
0.02250000
N
N
N
N
N
N
GLOBAL PARTNERS LP
549300PCHWTW9P4DU444
GLOBAL PARTNERS LP SER B 9.5% PERP PFD
37946R307
67800.00000000
NS
USD
1769586.78000000
0.038676436643
Long
EP
CORP
US
N
1
N
N
N
NEW HOME CO INC/THE
549300PLCE8TB3TVRQ85
NEW HOME CO INC/THE STEP 10/15/2027 144A
645370AE7
4680000.00000000
PA
USD
4352400.00000000
0.095126910277
Long
DBT
CORP
US
N
2
2027-10-15
Variable
0.08250000
N
N
N
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
12500000.00000000
PA
USD
10199513.13000000
0.222922564651
Long
DBT
CORP
US
N
2
2031-11-15
Fixed
0.02625000
N
N
N
N
N
N
MPT OPER PARTNERSHIP LP / MPT FIN CORP
N/A
MPT OPER PARTNERSHIP LP/CORP 3.5% 03/15/2031
55342UAM6
6000000.00000000
PA
USD
3678231.60000000
0.080392153154
Long
DBT
CORP
US
N
2
2031-03-15
Fixed
0.03500000
N
N
N
N
N
N
GS MTG SECS TR 2011-GC5
N/A
GSMS 2011-GC5 E CSTR 8/44
36191YAN8
8138000.00000000
PA
USD
906222.45000000
0.019806576071
Long
ABS-MBS
CORP
US
N
2
2044-08-10
Variable
0.05298297
N
N
N
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 3.25% 04/15/2033
681936BN9
18000000.00000000
PA
USD
14531720.58000000
0.317608142584
Long
DBT
CORP
US
N
2
2033-04-15
Fixed
0.03250000
N
N
N
N
N
N
PROVIDENCE PLACE GROUP LTD PARTNERSHIP
N/A
PPGLP 2000-C1 A2 7.75% 7/28
743784AB6
2565448.25000000
PA
USD
2640456.83000000
0.057710343708
Long
ABS-MBS
CORP
US
N
2
2028-07-20
Fixed
0.07750000
N
N
N
N
N
N
FORESTAR GROUP INC
549300BC2UB0GHV60V70
FORESTAR GROUP INC 3.85% 05/15/2026 144A
346232AF8
8000000.00000000
PA
USD
7598960.00000000
0.166084364056
Long
DBT
CORP
US
N
2
2026-05-15
Fixed
0.03850000
N
N
N
N
N
N
BENCHMARK 2023-B39 C MTG TR
N/A
BENCHMARK 2023-B39 A5 MTG TR 5.75359% 07/15/2056
081925AD1
5000000.00000000
PA
USD
5312309.50000000
0.116106881070
Long
ABS-MBS
CORP
US
N
2
2056-07-15
Fixed
0.05753590
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC 7.15% SER I PERP PFD
25401T405
1074492.00000000
NS
USD
24890607.18000000
0.544014005135
Long
EP
CORP
US
N
1
N
N
N
EQUITY LIFESTYLE PROPERTIES INC
529900PEQG66LENB6798
EQUITY LIFESTYLE PPTYS INC
29472R108
1311596.00000000
NS
USD
88781933.24000000
1.940435391403
Long
EC
CORP
US
N
1
N
N
N
Fidelity Revere Street Trust
549300BDV45LJNXBZC55
Fidelity Securities Lending Cash Central Fund
31635A303
2078627.14900000
NS
USD
2078835.01000000
0.045435426770
Long
STIV
RF
US
N
1
N
N
GLADSTONE LAND CORP
54930002B3Q17H38FG74
GLADSTONE LAND CORP SER D 5% PFD 01/31/26
376549507
30000.00000000
NS
USD
716577.00000000
0.015661647823
Long
EP
CORP
US
N
1
N
N
N
BX COML MTG TR 2024-XL4
N/A
BX COML MTG TR 2024-XL4 D TSFR1M+353.903 02/15/2039 144A
05611VAG6
10000000.00000000
PA
USD
10013000.00000000
0.218846097004
Long
ABS-MBS
CORP
US
N
2
2039-02-15
Variable
0.00000000
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2015-MS1
N/A
MORGAN STANLEY CAP I TR 2015 4.163% 5/15/48
61765DAC2
10833000.00000000
PA
USD
6788720.44000000
0.148375608903
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
4297000.00000000
PA
USD
3160162.91000000
0.069069141990
Long
ABS-MBS
CORP
US
N
2
2050-06-15
Variable
0.04562743
N
N
N
N
N
N
CD 2017-CD3 MTG TR
N/A
CD 2017-CD3 D 3.25% 02/10/2050 144A
12515GAM9
3353000.00000000
PA
USD
1118633.56000000
0.024449075060
Long
ABS-MBS
CORP
US
N
3
2050-02-10
Fixed
0.03250000
N
N
N
N
N
N
MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13
N/A
MSBAM 2013-C13 E CSTR 11/15/46 144A
61763BAE4
2740911.48000000
PA
USD
2469396.79000000
0.053971621836
Long
ABS-MBS
CORP
US
N
2
2046-11-15
Variable
0.05168378
N
N
N
N
N
N
UDR INC
P3CH2EG5X6Z1XWU1OO74
UDR INC
902653104
392200.00000000
NS
USD
14127044.00000000
0.308763451674
Long
EC
CORP
US
N
1
N
N
N
AMERICAN FIN TR FINAN OP
N/A
AMERICAN FIN TR FINAN OP 4.5% 09/30/2028 144A
02608AAA7
13405000.00000000
PA
USD
11343081.91000000
0.247916628783
Long
DBT
CORP
US
N
2
2028-09-30
Fixed
0.04500000
N
N
N
N
N
N
UBS COML MTG TR 2012-C1
N/A
UBSCM 2012-C1 E CSTR 05/45
90269GAQ4
4699074.49000000
PA
USD
3770537.37000000
0.082409606215
Long
ABS-MBS
CORP
US
N
2
2045-05-10
Variable
0.05000000
N
N
N
N
N
N
WILLSCOT MOBILE MINI HOLDINGS CORP
549300HJ4VIXF476Q166
WILLSCOT MOBILE MINI HOLDINGS CORP
971378104
58900.00000000
NS
USD
2785970.00000000
0.060890708166
Long
EC
CORP
US
N
1
N
N
N
SBA COMMUNICATIONS CORP
5299001HX8ZN8Y8QIT49
SBA COMMUNICATIONS CORP 3.125% 02/01/2029
78410GAG9
25000000.00000000
PA
USD
22280822.50000000
0.486974037969
Long
DBT
CORP
US
N
2
2029-02-01
Fixed
0.03125000
N
N
N
N
N
N
AMERICAN HOMES 4 RENT
549300ZJUO7A58PNUW40
AMERICAN HOMES 4 RENT SER H 6.25% PERP PFD
02665T868
98905.00000000
NS
USD
2467679.75000000
0.053934093872
Long
EP
CORP
US
N
1
N
N
N
CREST DARTMOUTH STR 03 1 LTD
N/A
CRST DRTMTH ST 2003-1 0% PFD 144A
226065209
1220000.00000000
NS
USD
12.20000000
0.000000266645
Long
EP
CORP
KY
N
3
N
N
N
SUN CMNTYS OPER LTD PRTNRSHP
549300PUNBPJCGT6X741
SUN CMNTYS OPER LTD PRTNRSHP 5.7% 01/15/2033
866677AJ6
17750000.00000000
PA
USD
17913150.37000000
0.391513337015
Long
DBT
CORP
US
N
2
2033-01-15
Fixed
0.05700000
N
N
N
N
N
N
SUMIT 2022-BVUE MTG TR
N/A
SUMI TRUST CORE RMBS 2022-BVUE F CSTR 02/12/2041 144A
865592AN9
3211000.00000000
PA
USD
2002092.22000000
0.043758121261
Long
ABS-MBS
CORP
US
N
2
2041-02-12
Variable
0.02892490
N
N
N
N
N
N
BANK 2022-BNK42
N/A
BANK 2022-BNK42 A5 CSTR 06/15/2055
06541MBN3
15000000.00000000
PA
USD
14583636.00000000
0.318742816212
Long
ABS-MBS
CORP
US
N
2
2055-06-15
Variable
0.04493000
N
N
N
N
N
N
TPGI 2021-DGWD G
N/A
TPGI 2021-DGWD G TSFR1M+396.448 06/15/2026 144A
87267HAU1
5846400.01000000
PA
USD
5773714.64000000
0.126191442543
Long
ABS-MBS
CORP
US
N
2
2026-06-15
Variable
0.09304480
N
N
N
N
N
N
ESSEX PROPERTY TRUST INC
549300TR2H2VEFX0NC60
ESSEX PROPERTY TRUST INC
297178105
159900.00000000
NS
USD
37299873.00000000
0.815233359116
Long
EC
CORP
US
N
1
N
N
N
MSWF COMMERCIAL MORTGAGE TRUST 23-2
N/A
MSWF COMMERCIAL MORTGAGE TRUST 23-2 6.491% 12/15/2056
55361AAX2
10000000.00000000
PA
USD
10799726.00000000
0.236040935166
Long
ABS-MBS
CORP
US
N
2
2056-12-15
Fixed
0.06491000
N
N
N
N
N
N
SOTHERLY HOTELS INC
549300IYTT21F61LSR10
SOTHERLY HOTELS INC SER B 8% PERP PFD
83600C301
67250.00000000
NS
USD
1294562.50000000
0.028294212569
Long
EP
CORP
US
N
1
N
N
N
BMO 2023-C6 MTG TR
N/A
BMO 2023-C6 AS MTG TR CSTR 09/15/2056
055985AJ4
5000000.00000000
PA
USD
5430896.50000000
0.118698741861
Long
ABS-MBS
CORP
US
N
2
2056-09-15
Variable
0.06550400
N
N
N
N
N
N
CROWN CASTLE INC
54930012H97VSM0I2R19
CROWN CASTLE INC 3.8% 02/15/2028
22822VAK7
2000000.00000000
PA
USD
1901785.50000000
0.041565797864
Long
DBT
CORP
US
N
2
2028-02-15
Fixed
0.03800000
N
N
N
N
N
N
CYXTERA TECHNOLOGIES INC
N/A
CYXTERA TECHNOLOGIES INC A
23284C102
740700.00000000
NS
USD
7.41000000
0.000000161954
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
13965000.00000000
PA
USD
11988680.46000000
0.262026957646
Long
DBT
CORP
US
N
2
2032-02-15
Fixed
0.03625000
N
N
N
N
N
N
RLJ LODGING TRUST LP
549300RX5I8Z6I6LDZ74
RLJ LODGING TRUST LP 3.75% 07/01/2026 144A
74965LAA9
4000000.00000000
PA
USD
3780004.52000000
0.082616522107
Long
DBT
CORP
US
N
2
2026-07-01
Fixed
0.03750000
N
N
N
N
N
N
M/I HOMES INC
5299005M71FH9CCSFB69
M/I HOMES INC 3.95% 02/15/2030
55305BAV3
17070000.00000000
PA
USD
15149625.00000000
0.331113183095
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
27974438.34170000
PA
USD
96016.66000000
0.002098559002
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
10000000.00000000
PA
USD
8333525.60000000
0.182139174258
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
1362346.00000000
NS
USD
31347581.46000000
0.685138904730
Long
EP
CORP
US
N
1
N
N
N
GREAT AJAX CORP
5493004ID2QQWNGDYC18
GREAT AJAX CORP
38983D300
1663364.00000000
NS
USD
9797213.96000000
0.214129834881
Long
EC
CORP
US
N
1
N
N
N
ASHFORD HOSPITALITY TRUST INC
N/A
ASHFORD HOSPITALITY TRUST INC SER I 7.5% PFD PERP
044103885
71209.00000000
NS
USD
865189.35000000
0.018909748568
Long
EP
CORP
US
N
1
N
N
N
MPT OPER PARTNERSHIP LP / MPT FIN CORP
N/A
MPT OPER PARTNERSHIP LP/CORP 4.625% 08/01/2029
55342UAJ3
19835000.00000000
PA
USD
13411691.12000000
0.293128558458
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
2000000.00000000
PA
USD
1633983.78000000
0.035712670810
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
34125.00000000
NS
USD
457275.00000000
0.009994292320
Long
EP
CORP
BM
N
1
N
N
N
MORGAN STANLEY CAP I TR 2011-C3
N/A
MORGAN STANLEY CAP I TR 2011-C3 F CSTR 07/15/2049 144A
61760RAQ5
5624050.00000000
PA
USD
5061481.90000000
0.110624743720
Long
ABS-MBS
CORP
US
N
2
2049-07-15
Variable
0.05108652
N
N
N
N
N
N
TRICON AMERN HOMES 2018-SFR TR
N/A
TRICON AMERN HOMES 2018-SFR1 F 4.96% 05/17/2037 144A
89613TAF5
8282000.00000000
PA
USD
8124227.90000000
0.177564722570
Long
ABS-CBDO
CORP
US
N
2
2037-05-17
Fixed
0.04960000
N
N
N
N
N
N
CBL and ASSOCS LTD PARTNERSHIP
549300VS75TWHD9JTH89
CBL and ASSOCS LP 5.95% 12/15/2026
12505JAD5
10317000.00000000
PA
USD
1.03000000
0.000000022511
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
18000000.00000000
PA
USD
18488295.00000000
0.404083811148
Long
DBT
CORP
US
N
2
2033-07-15
Fixed
0.05550000
N
N
N
N
N
N
HEALTHCARE TRUST INC
549300Z2NSUGF5NF2Y30
HEALTHCARE TRUST INC SER A 7.375% PFD PERP
42226B204
364800.00000000
NS
USD
5807616.00000000
0.126932397333
Long
EP
CORP
US
N
1
N
N
N
RITHM CAPITAL CORP
549300WNTHGEO5LP2G31
RITHM CAPITAL CORP SER D 7%/VAR PFD PERP
64828T706
151200.00000000
NS
USD
3465504.00000000
0.075742736897
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
23154830.50000000
PA
USD
21881314.82000000
0.478242319553
Long
LON
CORP
US
N
3
2025-01-09
Variable
0.10333160
N
N
N
N
N
N
EASTGROUP PROPERTIES INC
31TIGQQZC4P6JMHKSW85
EASTGROUP PPTYS INC
277276101
55600.00000000
NS
USD
9865108.00000000
0.215613740370
Long
EC
CORP
US
N
1
N
N
N
LGI HOMES INC
549300W02B4WNV8CV109
LGI HOMES INC 4% 07/15/2029 144A
50187TAF3
13310000.00000000
PA
USD
11388296.61000000
0.248904850158
Long
DBT
CORP
US
N
2
2029-07-15
Fixed
0.04000000
N
N
N
N
N
N
LXP INDUSTRIAL TRUST
549300S4MH2ICXDBFV43
LXP INDUSTRIAL TRUST 2.375% 10/01/2031
529537AA0
7500000.00000000
PA
USD
6042194.63000000
0.132059393999
Long
DBT
CORP
US
N
2
2031-10-01
Fixed
0.02375000
N
N
N
N
N
N
UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC
N/A
UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC 10.5% 02/15/2028 144A
91327TAA9
7000000.00000000
PA
USD
7125657.00000000
0.155739760615
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
9000000.00000000
PA
USD
7507644.21000000
0.164088548193
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
3302000.00000000
PA
USD
2520218.48000000
0.055082390686
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
18035000.00000000
PA
USD
11948187.50000000
0.261141935549
Long
DBT
CORP
US
N
2
2030-01-15
Fixed
0.06000000
N
N
N
N
N
N
PUBLIC STORAGE
549300LMZF40TKJ6DM64
PUBLIC STORAGE SER G 5.05% PFD PERP
74460W669
43800.00000000
NS
USD
1077480.00000000
0.023549614760
Long
EP
CORP
US
N
1
N
N
N
DIGITAL REALTY TRUST LP
CD4SPTZ3YBTHY0C1AH38
DIGITAL REALTY TRUST LP 3.7% 08/15/2027
25389JAR7
5000000.00000000
PA
USD
4836060.65000000
0.105697892552
Long
DBT
CORP
US
N
2
2027-08-15
Fixed
0.03700000
N
N
N
N
N
N
AMR HMS 15-SFR2
N/A
AMERICAN HOMES 4 RENT 2015-SFR2 TR 6.07% 10/17/2052 144A
02666BAE6
8259000.00000000
PA
USD
8271474.39000000
0.180782970810
Long
ABS-CBDO
CORP
US
N
2
2052-10-17
Fixed
0.06070000
N
N
N
N
N
N
BXP TR 2021-601L
N/A
BXP TR 2021-601L VAR 01/15/2044 144A
05607TAL6
5754000.00000000
PA
USD
3219600.64000000
0.070368224705
Long
ABS-MBS
CORP
US
N
2
2044-01-15
Variable
0.02867975
N
N
N
N
N
N
VENTAS RLTY LTD PARTNERSHIP
32SXKSJ72K64GM3HOU64
VENTAS RLTY LTD PARTNERSHIP 4.4% 01/15/2029
92277GAN7
17000000.00000000
PA
USD
16489320.34000000
0.360393827891
Long
DBT
CORP
US
N
2
2029-01-15
Fixed
0.04400000
N
N
N
N
N
N
GLP CAP LP / GLP FING II INC
N/A
GLP CAP LP / GLP FING II INC 5.375% 04/15/2026
361841AH2
8000000.00000000
PA
USD
7972848.00000000
0.174256133707
Long
DBT
CORP
US
N
2
2026-04-15
Fixed
0.05375000
N
N
N
N
N
N
CITIGROUP COML MTG TR 2022-GC48
N/A
CITIGROUP COML MTG TR 2022-GC48 2.5% 06/15/2055 144A
29426VAM8
2000000.00000000
PA
USD
1093201.20000000
0.023893220399
Long
ABS-MBS
CORP
US
N
2
2055-06-15
Fixed
0.02500000
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP
03027X100
450100.00000000
NS
USD
88062065.00000000
1.924701809592
Long
EC
CORP
US
N
1
N
N
N
JPMBB COML MTG SECS TR 2014-C23
N/A
JPMBB 2014-C23 UH5 4.7094% 09/15/2047 144A
46643AAQ6
8640000.00000000
PA
USD
7033677.98000000
0.153729449067
Long
ABS-MBS
CORP
US
N
3
2047-09-15
Fixed
0.04709400
N
N
N
N
N
N
BMO 2023-5C2 MORTGAGE TRUST
N/A
BMO 2023-5C2 MORTGAGE TRUST CSTR 11/15/2056
05610QAF0
10000000.00000000
PA
USD
10749692.00000000
0.234947382223
Long
ABS-MBS
CORP
US
N
2
2056-11-15
Variable
0.07485512
N
N
N
N
N
N
BENCHMARK 2023-V3 MTG TR
N/A
BENCHMARK 2023-V3 MTG TR 7.0967% 07/15/2056
08163VAF4
10000000.00000000
PA
USD
10639061.00000000
0.232529409332
Long
ABS-MBS
CORP
US
N
2
2056-07-15
Fixed
0.07096700
N
N
N
N
N
N
MSWF COML MTG TR 2023-1
N/A
MSWF COML MTG TR 2023-1 6.90553% 05/15/2056
55376CAW3
3750000.00000000
PA
USD
4016186.63000000
0.087778564747
Long
ABS-MBS
CORP
US
N
2
2056-05-15
Variable
0.06905557
N
N
N
N
N
N
MHP COML MTG TR 2021-STOR
N/A
MHP 2021-STOR J TSFR1M+406.448 07/15/2038 144A
55293BAR6
3476000.00000000
PA
USD
3365182.34000000
0.073550086968
Long
ABS-MBS
CORP
US
N
2
2038-07-15
Variable
0.09398480
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
5000000.00000000
PA
USD
3784443.00000000
0.082713530399
Long
DBT
CORP
US
N
2
2027-10-15
Fixed
0.05000000
N
N
N
N
N
N
AMERICAN TOWER CORP
5493006ORUSIL88JOE18
AMERICAN TOWER CORP 3.8% 08/15/2029
03027XAW0
23000000.00000000
PA
USD
21701087.19000000
0.474303229031
Long
DBT
CORP
US
N
2
2029-08-15
Fixed
0.03800000
N
N
N
N
N
N
REXFORD INDL RLTY INC
549300MSLO0DF0EMX355
REXFORD INDUSTRIAL REALTY INC
76169C100
67700.00000000
NS
USD
3560343.00000000
0.077815556731
Long
EC
CORP
US
N
1
N
N
N
SITE CENTERS CORP
W2AVA6SODOQ1LCYJQR54
SITE CENTERS CORP 6.375% 12/31/99 PFD PERP
82981J877
124200.00000000
NS
USD
2906280.00000000
0.063520227185
Long
EP
CORP
US
N
1
N
N
N
JPMBB COML MTG SECS TR 2014-C26
N/A
JPMBB 2014-C26 D CSTR 01/15/2048 144A
46643TAL6
2398000.00000000
PA
USD
2039912.89000000
0.044584737262
Long
ABS-MBS
CORP
US
N
2
2048-01-15
Variable
0.04010703
N
N
N
N
N
N
BX COML MTG TR 2021-CIP
N/A
BX COML MTG TR 2021-CIP F TSFR1M+333.348 73 11/15/2036 144A
12434FAN7
7790000.00000000
PA
USD
7584505.25000000
0.165768438197
Long
ABS-MBS
CORP
US
N
2
2038-12-15
Variable
0.08666480
N
N
N
N
N
N
MORGAN STANLEY CAP I TR 2011-C2
3IFG42XD94UUZ7FL2766
MSC 2011-C2 D CSTR 6/44
617459AJ1
2804868.07000000
PA
USD
2595303.19000000
0.056723456873
Long
ABS-MBS
CORP
US
N
2
2044-06-15
Variable
0.05385010
N
N
N
N
N
N
SUNSTONE HOTEL INVS INC NEW
529900ZQ2V52V96ATF67
SUNSTONE HOTEL INVS INC SER H 6.125% PFD PERP
867892804
180000.00000000
NS
USD
3888000.00000000
0.084976892555
Long
EP
CORP
US
N
1
N
N
N
OMEGA HEALTHCARE INVESTORS INC
549300OJ7ENK42CZ8E73
OMEGA HEALTHCARE INVESTORS INC 4.5% 04/01/2027
681936BF6
6752000.00000000
PA
USD
6567716.92000000
0.143545312511
Long
DBT
CORP
US
N
2
2027-04-01
Fixed
0.04500000
N
N
N
N
N
N
BANK 2023-BNK46
N/A
BANK 2023-BNK46 6.385% 08/15/2056
06541DBN3
5000000.00000000
PA
USD
5351405.50000000
0.116961370934
Long
ABS-MBS
CORP
US
N
2
2056-08-15
Fixed
0.06385000
N
N
N
N
N
N
STWD TR 2021-LIH
N/A
STWD TR 2021-LIH TSFR1M+359.8 1 11/15/2036 144A
78486EAS7
15282000.00000000
PA
USD
14560335.06000000
0.318233546286
Long
ABS-MBS
CORP
US
N
2
2036-11-15
Variable
0.08999000
N
N
N
N
N
N
TRICON RESIDENTIAL 2023-SFR1 TRUST
N/A
TRICON RESIDENTIAL 2023-SFR1 TRUST 5.1% 07/17/2040 144A
89616WAD0
5000000.00000000
PA
USD
4823097.00000000
0.105414556469
Long
ABS-CBDO
CORP
US
N
2
2040-07-17
Fixed
0.05100000
N
N
N
N
N
N
DIGITALBRIDGE GROUP INC
549300XG87L902AGBO89
DIGITALBRIDGE GROUP INC SER H 7.125% PERP PFD
25401T504
942305.00000000
NS
USD
21795514.65000000
0.476367054166
Long
EP
CORP
US
N
1
N
N
N
FEDERAL NAT MTG ASN GTD REM PA
N/A
FNW 2003-W10 2B3 CSTR 6/43
31393DUL3
36388.21260000
PA
USD
26446.95000000
0.000578029739
Long
ABS-CBDO
USGSE
US
N
3
2043-06-25
Variable
0.03863600
N
N
N
N
N
N
PROLOGIS INC
529900DFH19P073LZ636
PROLOGIS INC REIT
74340W103
641130.00000000
NS
USD
81224759.70000000
1.775264320434
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
1620040.00000000
0.035407912812
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
448231.00000000
NS
USD
11407478.95000000
0.249324103153
Long
EP
CORP
US
N
1
N
N
N
AVALONBAY COMMUNITIES INC
K9G90K85RBWD2LAGQX17
AVALONBAY COMMUNITIES INC REIT
053484101
114200.00000000
NS
USD
20442942.00000000
0.446804960351
Long
EC
CORP
US
N
1
N
N
N
SIMON PROPERTY GROUP LP
MR92GTD0MJTTTTQDVG45
SIMON PROPERTY GROUP LP 6.25% 01/15/2034
828807DW4
10000000.00000000
PA
USD
10821335.10000000
0.236513227905
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
4440000.00000000
PA
USD
1826151.13000000
0.039912718200
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
9552000.00000000
PA
USD
5527367.96000000
0.120807241062
Long
ABS-MBS
CORP
US
N
2
2042-10-09
Variable
0.02741981
N
N
N
N
N
N
CITIGROUP COML MTG TR 2023-PRM3
N/A
CITIGROUP COML MTG TR 2023-PRM3 VAR 07/10/2028 144A
17331LAC1
5000000.00000000
PA
USD
5080367.00000000
0.111037500180
Long
ABS-MBS
CORP
US
N
2
2028-07-10
Variable
0.06571721
N
N
N
N
N
N
LAMAR ADVERTISING CO
529900Y8WW4MKVPTB543
LAMAR ADVERTISING CO CL A
512816109
150700.00000000
NS
USD
15775276.00000000
0.344787534382
Long
EC
CORP
US
N
1
N
N
N
CEDAR REALTY TRUST INC
54930056URX93R2RSN82
CEDAR REALTY TRUST INC SER C 6.50% PFD PERP
150602506
291600.00000000
NS
USD
3761610.84000000
0.082214506220
Long
EP
CORP
US
N
1
N
N
N
2024-03-01
Stacie M. Smith
Stacie M. Smith
Stacie M. Smith
President and Treasurer