The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGREE RLTY CORP COM 008492100   2,726,763 41,700 SH   SOLE   41,700 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   692,289 6,100 SH   SOLE   6,100 0 0
AMERICAN TOWER CORP NEW COM 03027X100   15,032,289 77,510 SH   SOLE   77,510 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103   752,293 5,270 SH   SOLE   5,270 0 0
APARTMENT INCOME REIT CORP COM 03750L109   741,902 20,557 SH   SOLE   20,557 0 0
AVALONBAY CMNTYS INC COM 053484101   28,837,177 152,360 SH   SOLE   152,360 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203   1,182,960 254,400 SH   SOLE   254,400 0 0
BRIXMOR PPTY GROUP INC COM 11120U105   18,882,600 858,300 SH   SOLE   858,300 0 0
CAMDEN PPTY TR SH BEN INT 133131102   24,500,105 225,040 SH   SOLE   225,040 0 0
CHENIERE ENERGY INC COM NEW 16411R208   609,440 4,000 SH   SOLE   4,000 0 0
CONSOLIDATED EDISON INC COM 209115104   849,760 9,400 SH   SOLE   9,400 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108   1,491,500 62,800 SH   SOLE   62,800 0 0
CROWN CASTLE INC COM 22822V101   2,626,317 23,050 SH   SOLE   23,050 0 0
CUBESMART COM 229663109   1,518,440 34,000 SH   SOLE   34,000 0 0
DIGITAL RLTY TR INC COM 253868103   33,779,536 296,650 SH   SOLE   296,650 0 0
EASTERLY GOVT PPTYS INC COM 27616P103   1,702,880 117,440 SH   SOLE   117,440 0 0
EDISON INTL COM 281020107   579,908 8,350 SH   SOLE   8,350 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   2,854,852 43,275 SH   SOLE   43,275 0 0
EVERSOURCE ENERGY COM 30040W108   768,064 10,830 SH   SOLE   10,830 0 0
EXTRA SPACE STORAGE INC COM 30225T102   1,510,828 10,150 SH   SOLE   10,150 0 0
GAMING & LEISURE PPTYS INC COM 36467J108   2,729,170 56,318 SH   SOLE   56,318 0 0
HEALTHCARE RLTY TR CL A COM 42226K105   1,210,812 64,200 SH   SOLE   64,200 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103   508,530 25,300 SH   SOLE   25,300 0 0
HIGHWOODS PPTYS INC COM 431284108   1,317,441 55,100 SH   SOLE   55,100 0 0
HUDSON PAC PPTYS INC COM 444097109   7,116,608 1,686,400 SH   SOLE   1,686,400 0 0
KINDER MORGAN INC DEL COM 49456B101   971,208 56,400 SH   SOLE   56,400 0 0
KITE RLTY GROUP TR COM NEW 49803T300   1,225,863 54,873 SH   SOLE   54,873 0 0
LIFE STORAGE INC COM 53223X107   25,598,124 192,525 SH   SOLE   192,525 0 0
MEDICAL PPTYS TRUST INC COM 58463J304   8,869,691 957,850 SH   SOLE   957,850 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106   933,444 26,800 SH   SOLE   26,800 0 0
ONEOK INC NEW COM 682680103   546,222 8,850 SH   SOLE   8,850 0 0
PARAMOUNT GROUP INC COM 69924R108   5,246,626 1,184,340 SH   SOLE   1,184,340 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206   373,678 51,400 SH   SOLE   51,400 0 0
PROLOGIS INC. COM 74340W103   47,222,360 385,080 SH   SOLE   385,080 0 0
REALTY INCOME CORP COM 756109104   2,367,684 39,600 SH   SOLE   39,600 0 0
REGENCY CTRS CORP COM 758849103   2,930,987 47,450 SH   SOLE   47,450 0 0
REXFORD INDL RLTY INC COM 76169C100   12,041,932 230,600 SH   SOLE   230,600 0 0
SABRA HEALTH CARE REIT INC COM 78573L106   14,065,150 1,195,000 SH   SOLE   1,195,000 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   1,341,890 5,790 SH   SOLE   5,790 0 0
SEMPRA COM 816851109   582,360 4,000 SH   SOLE   4,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109   23,178,568 200,715 SH   SOLE   200,715 0 0
SUN CMNTYS INC COM 866674104   17,625,146 135,100 SH   SOLE   135,100 0 0
VENTAS INC COM 92276F100   1,455,916 30,800 SH   SOLE   30,800 0 0
VICI PPTYS INC COM 925652109   18,708,708 595,250 SH   SOLE   595,250 0 0
WELLTOWER INC COM 95040Q104   21,334,171 263,743 SH   SOLE   263,743 0 0
WILLIAMS COS INC COM 969457100   603,655 18,500 SH   SOLE   18,500 0 0
WP CAREY INC COM 92936U109   2,827,386 41,850 SH   SOLE   41,850 0 0