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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICOLD RLTY TR COM 03064D108 22,154 610,300 SH   SOLE   610,300 0 0
APARTMENT INVT & MGMT CO CL A 03748R754 10,880 289,061 SH   SOLE   289,061 0 0
AVALONBAY CMNTYS INC COM 053484101 41,737 269,900 SH   SOLE   269,900 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 2,048 188,035 SH   SOLE   188,035 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 29,391 2,292,570 SH   SOLE   2,292,570 0 0
CAMDEN PPTY TR SH BEN INT 133131102 42,432 465,159 SH   SOLE   465,159 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 8,675 660,220 SH   SOLE   660,220 0 0
CORESITE RLTY CORP COM 21870Q105 2,508 20,716 SH   SOLE   20,716 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 1,302 51,391 SH   SOLE   51,391 0 0
CUBESMART COM 229663109 10,114 374,740 SH   SOLE   374,740 0 0
DIGITAL RLTY TR INC COM 253868103 35,690 251,144 SH   SOLE   251,144 0 0
DUKE REALTY CORP COM NEW 264411505 8,720 246,400 SH   SOLE   246,400 0 0
EPR PPTYS COM SH BEN INT 26884U109 1,462 44,125 SH   SOLE   44,125 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 21,562 345,100 SH   SOLE   345,100 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,156 19,645 SH   SOLE   19,645 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 1,019 29,456 SH   SOLE   29,456 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 9,126 344,105 SH   SOLE   344,105 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 27,557 999,900 SH   SOLE   999,900 0 0
HIGHWOODS PPTYS INC COM 431284108 2,132 57,120 SH   SOLE   57,120 0 0
HUDSON PAC PPTYS INC COM 444097109 33,634 1,336,800 SH   SOLE   1,336,800 0 0
INVITATION HOMES INC COM 46187W107 45,994 1,670,700 SH   SOLE   1,670,700 0 0
ISHARES TR U.S. REAL ES ETF 464287739 6,305 80,000 SH Put SOLE   80,000 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106 862 24,303 SH   SOLE   24,303 0 0
PARAMOUNT GROUP INC COM 69924R108 34,266 4,444,400 SH   SOLE   4,444,400 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 1,312 79,000 SH   SOLE   79,000 0 0
PROLOGIS INC. COM 74340W103 72,461 776,400 SH   SOLE   776,400 0 0
REGENCY CTRS CORP COM 758849103 1,505 32,800 SH   SOLE   32,800 0 0
RETAIL PPTYS AMER INC CL A 76131V202 11,757 1,606,190 SH   SOLE   1,606,190 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 12,854 890,800 SH   SOLE   890,800 0 0
SIMON PPTY GROUP INC NEW COM 828806109 1,265 18,500 SH   SOLE   18,500 0 0
SL GREEN RLTY CORP COM 78440X101 8,675 176,000 SH   SOLE   176,000 0 0
VENTAS INC COM 92276F100 1,035 28,255 SH   SOLE   28,255 0 0
VICI PPTYS INC COM 925652109 16,011 793,040 SH   SOLE   793,040 0 0
WELLTOWER INC COM 95040Q104 1,121 21,666 SH   SOLE   21,666 0 0
WP CAREY INC COM 92936U109 1,276 18,861 SH   SOLE   18,861 0 0