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
ISHARES TR U.S. REAL ES ETF 464287739 120,870 1,500,000 SH   SOLE   1,500,000 0 0
ALEXANDERS INC COM 014752109 1,051 2,748 SH   SOLE   2,748 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 16,543 131,117 SH   SOLE   131,117 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 8,514 201,267 SH   SOLE   201,267 0 0
CBL & ASSOC PPTYS INC COM 124830100 1,244 223,342 SH   SOLE   223,342 0 0
CAMDEN PPTY TR SH BEN INT 133131102 10,447 114,638 SH   SOLE   114,638 0 0
COUSINS PPTYS INC COM 222795106 5,231 539,847 SH   SOLE   539,847 0 0
EASTGROUP PPTY INC COM 277276101 4,244 44,417 SH   SOLE   44,417 0 0
ESSEX PPTY TR INC COM 297178105 20,286 84,852 SH   SOLE   84,852 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 11,899 94,029 SH   SOLE   94,029 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 5,328 159,807 SH   SOLE   159,807 0 0
HEALTHCARE RLTY TR COM 421946104 4,636 159,409 SH   SOLE   159,409 0 0
HIGHWOODS PPTYS INC COM 431284108 6,656 131,203 SH   SOLE   131,203 0 0
KILROY RLTY CORP COM 49427F108 9,457 125,033 SH   SOLE   125,033 0 0
LTC PPTYS INC COM 502175102 2,189 51,209 SH   SOLE   51,209 0 0
LIBERTY PPTY TR SH BEN INT 531172104 8,442 190,436 SH   SOLE   190,436 0 0
MACERICH CO COM 554382101 9,969 175,426 SH   SOLE   175,426 0 0
NATIONAL HEALTH INVS INC COM 63633D104 3,816 51,796 SH   SOLE   51,796 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 7,839 252,877 SH   SOLE   252,877 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 3,291 25,609 SH   SOLE   25,609 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 963 87,599 SH   SOLE   87,599 0 0
TAUBMAN CTRS INC COM 876664103 4,535 77,181 SH   SOLE   77,181 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 3,099 102,181 SH   SOLE   102,181 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 4,754 154,301 SH   SOLE   154,301 0 0
KIMCO RLTY CORP COM 49446R109 8,912 524,544 SH   SOLE   524,544 0 0
VORNADO RLTY TR SH BEN INT 929042109 16,441 222,416 SH   SOLE   222,416 0 0
AVALONBAY CMNTYS INC COM 053484101 30,632 178,205 SH   SOLE   178,205 0 0
BOSTON PROPERTIES INC COM 101121101 25,005 199,374 SH   SOLE   199,374 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 29,502 463,217 SH   SOLE   463,217 0 0
HOST HOTELS & RESORTS INC COM 44107P104 19,914 945,128 SH   SOLE   945,128 0 0
SL GREEN RLTY CORP COM 78440X101 11,095 110,366 SH   SOLE   110,366 0 0
DUKE REALTY CORP COM NEW 264411505 13,360 460,212 SH   SOLE   460,212 0 0
PUBLIC STORAGE COM 74460D109 43,463 191,584 SH   SOLE   191,584 0 0
SIMON PPTY GROUP INC NEW COM 828806109 67,719 397,900 SH   SOLE   397,900 0 0
WEYERHAEUSER CO COM 962166104 35,678 978,560 SH   SOLE   978,560 0 0
REGENCY CTRS CORP COM 758849103 12,166 195,980 SH   SOLE   195,980 0 0
GLADSTONE COML CORP COM 376536108 720 37,480 SH   SOLE   37,480 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 883 108,956 SH   SOLE   108,956 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 529 112,105 SH   SOLE   112,105 0 0
EXTRA SPACE STORAGE INC COM 30225T102 15,714 157,435 SH   SOLE   157,435 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 7,534 175,703 SH   SOLE   175,703 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 4,808 289,287 SH   SOLE   289,287 0 0
DIGITAL RLTY TR INC COM 253868103 29,608 265,349 SH   SOLE   265,349 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 10,002 108,837 SH   SOLE   108,837 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 3,152 256,643 SH   SOLE   256,643 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 6,581 468,727 SH   SOLE   468,727 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 1,186 138,566 SH   SOLE   138,566 0 0
POTLATCHDELTIC CORPORATION COM 737630103 3,992 78,505 SH   SOLE   78,505 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 8,685 197,565 SH   SOLE   197,565 0 0
DOUGLAS EMMETT INC COM 25960P109 8,326 207,228 SH   SOLE   207,228 0 0
UDR INC COM 902653104 12,845 342,175 SH   SOLE   342,175 0 0
HCP INC COM 40414L109 15,672 606,987 SH   SOLE   606,987 0 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 2,004 126,437 SH   SOLE   126,437 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 2,690 140,371 SH   SOLE   140,371 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 3,391 87,388 SH   SOLE   87,388 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 2,441 77,145 SH   SOLE   77,145 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 3,286 164,860 SH   SOLE   164,860 0 0
TERRENO RLTY CORP COM 88146M101 2,662 70,655 SH   SOLE   70,655 0 0
CHATHAM LODGING TR COM 16208T102 1,265 59,609 SH   SOLE   59,609 0 0
HUDSON PAC PPTYS INC COM 444097109 7,039 198,672 SH   SOLE   198,672 0 0
CORESITE RLTY CORP COM 21870Q105 4,919 44,385 SH   SOLE   44,385 0 0
WHITESTONE REIT COM 966084204 624 49,986 SH   SOLE   49,986 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 4,955 228,015 SH   SOLE   228,015 0 0
AMERICAN ASSETS TR INC COM 024013104 1,891 49,380 SH   SOLE   49,380 0 0
SUMMIT HOTEL PPTYS INC COM 866082100 1,928 134,700 SH   SOLE   134,700 0 0
PREFERRED APT CMNTYS INC COM 74039L103 855 50,310 SH   SOLE   50,310 0 0
STAG INDL INC COM 85254J102 3,412 125,295 SH   SOLE   125,295 0 0
RLJ LODGING TR COM 74965L101 4,874 221,026 SH   SOLE   221,026 0 0
PROLOGIS INC COM 74340W103 44,953 684,315 SH   SOLE   684,315 0 0
CUBESMART COM 229663109 7,593 235,654 SH   SOLE   235,654 0 0
AMERICAN TOWER CORP NEW COM 03027X100 81,665 566,451 SH   SOLE   566,451 0 0
SELECT INCOME REIT COM SH BEN INT 81618T100 1,860 82,771 SH   SOLE   82,771 0 0
RETAIL PPTYS AMER INC CL A 76131V202 3,616 282,946 SH   SOLE   282,946 0 0
AMERICOLD RLTY TR COM 03064D108 1,481 67,276 SH   SOLE   67,276 0 0
ALEXANDER & BALDWIN INC NEW COM 014491104 2,005 85,302 SH   SOLE   85,302 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 4,791 57,622 SH   SOLE   57,622 0 0
W P CAREY INC COM 92936U109 9,062 136,582 SH   SOLE   136,582 0 0
EPR PPTYS COM SH BEN INT 26884U109 6,167 95,190 SH   SOLE   95,190 0 0
CYRUSONE INC COM 23283R100 7,368 126,245 SH   SOLE   126,245 0 0
GLADSTONE LD CORP COM 376549101 227 17,897 SH   SOLE   17,897 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 903 60,611 SH   SOLE   60,611 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 4,433 552,000 SH   SOLE   552,000 0 0
REXFORD INDL RLTY INC COM 76169C100 3,242 103,295 SH   SOLE   103,295 0 0
PHYSICIANS RLTY TR COM 71943U104 3,721 233,426 SH   SOLE   233,426 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 7,396 333,456 SH   SOLE   333,456 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 1,165 113,014 SH   SOLE   113,014 0 0
EMPIRE ST RLTY TR INC CL A 292104106 2,972 173,806 SH   SOLE   173,806 0 0
QTS RLTY TR INC COM CL A 74736A103 2,577 65,238 SH   SOLE   65,238 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 3,470 152,811 SH   SOLE   152,811 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 9,309 260,028 SH   SOLE   260,028 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730103 831 150,224 SH   SOLE   150,224 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 2,828 103,340 SH   SOLE   103,340 0 0
AGREE REALTY CORP COM 008492100 2,093 39,666 SH   SOLE   39,666 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 1,646 99,593 SH   SOLE   99,593 0 0
ONE LIBERTY PPTYS INC COM 682406103 493 18,659 SH   SOLE   18,659 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 1,346 101,860 SH   SOLE   101,860 0 0
UMH PPTYS INC COM 903002103 630 41,013 SH   SOLE   41,013 0 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 1,084 16,940 SH   SOLE   16,940 0 0
URSTADT BIDDLE PPTYS INC CL A 917286205 904 39,928 SH   SOLE   39,928 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 3,769 130,001 SH   SOLE   130,001 0 0
VENTAS INC COM 92276F100 26,165 459,446 SH   SOLE   459,446 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 5,488 303,363 SH   SOLE   303,363 0 0
GETTY RLTY CORP NEW COM 374297109 1,201 42,630 SH   SOLE   42,630 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 3,821 226,345 SH   SOLE   226,345 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 6,001 209,735 SH   SOLE   209,735 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 4,863 142,078 SH   SOLE   142,078 0 0
LEXINGTON REALTY TRUST COM 529043101 2,404 275,417 SH   SOLE   275,417 0 0
MACK CALI RLTY CORP COM 554489104 2,385 117,624 SH   SOLE   117,624 0 0
MID AMER APT CMNTYS INC COM 59522J103 14,734 146,361 SH   SOLE   146,361 0 0
REALTY INCOME CORP COM 756109104 19,745 367,073 SH   SOLE   367,073 0 0
SAUL CTRS INC COM 804395101 836 15,597 SH   SOLE   15,597 0 0
SUN CMNTYS INC COM 866674104 9,844 100,574 SH   SOLE   100,574 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 2,827 120,333 SH   SOLE   120,333 0 0
RAYONIER INC COM 754907103 6,442 166,495 SH   SOLE   166,495 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 6,788 389,430 SH   SOLE   389,430 0 0
CATCHMARK TIMBER TR INC CL A 14912Y202 815 64,018 SH   SOLE   64,018 0 0
BLUEROCK RESIDENTIAL GRW REI COM CL A 09627J102 273 30,596 SH   SOLE   30,596 0 0
FARMLAND PARTNERS INC COM 31154R109 346 39,335 SH   SOLE   39,335 0 0
CITY OFFICE REIT INC COM 178587101 613 47,817 SH   SOLE   47,817 0 0
CARETRUST REIT INC COM 14174T107 1,669 100,001 SH   SOLE   100,001 0 0
GEO GROUP INC NEW COM 36162J106 4,285 155,580 SH   SOLE   155,580 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 4,787 151,976 SH   SOLE   151,976 0 0
KITE RLTY GROUP TR COM NEW 49803T300 1,836 107,478 SH   SOLE   107,478 0 0
NEW SR INVT GROUP INC COM 648691103 734 97,013 SH   SOLE   97,013 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 8,116 121,631 SH   SOLE   121,631 0 0
STORE CAP CORP COM 862121100 6,306 230,151 SH   SOLE   230,151 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 7,343 107,492 SH   SOLE   107,492 0 0
PARAMOUNT GROUP INC COM 69924R108 4,167 270,574 SH   SOLE   270,574 0 0
OUTFRONT MEDIA INC COM 69007J106 3,522 181,058 SH   SOLE   181,058 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 4,098 98,738 SH   SOLE   98,738 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 57,652 534,706 SH   SOLE   534,706 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 7,089 262,963 SH   SOLE   262,963 0 0
URBAN EDGE PPTYS COM 91704F104 3,210 140,350 SH   SOLE   140,350 0 0
IRON MTN INC NEW COM 46284V101 12,825 366,328 SH   SOLE   366,328 0 0
EQUINIX INC COM PAR $0.001 29444U700 43,967 102,276 SH   SOLE   102,276 0 0
XENIA HOTELS & RESORTS INC COM 984017103 3,356 137,779 SH   SOLE   137,779 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 1,193 60,363 SH   SOLE   60,363 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102 665 23,360 SH   SOLE   23,360 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 2,061 66,878 SH   SOLE   66,878 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 4,990 279,063 SH   SOLE   279,063 0 0
COMMUNITY HEALTHCARE TR INC COM 20369C106 700 23,436 SH   SOLE   23,436 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 1,001 46,670 SH   SOLE   46,670 0 0
TIER REIT INC COM NEW 88650V208 1,490 62,652 SH   SOLE   62,652 0 0
VEREIT INC COM 92339V100 9,300 1,249,938 SH   SOLE   1,249,938 0 0
WELLTOWER INC COM 95040Q104 30,117 480,415 SH   SOLE   480,415 0 0
NORTHSTAR REALTY EUROPE CORP COM 66706L101 877 60,527 SH   SOLE   60,527 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 2,058 83,563 SH   SOLE   83,563 0 0
CORENERGY INFRASTRUCTURE TR COM NEW 21870U502 612 16,269 SH   SOLE   16,269 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 6,262 274,543 SH   SOLE   274,543 0 0
GLOBAL MED REIT INC COM NEW 37954A204 194 21,950 SH   SOLE   21,950 0 0
LIFE STORAGE INC COM 53223X107 5,759 59,177 SH   SOLE   59,177 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 1,974 243,395 SH   SOLE   243,395 0 0
MEDEQUITIES RLTY TR INC COM 58409L306 415 37,703 SH   SOLE   37,703 0 0
QUALITY CARE PPTYS INC COM 747545101 2,635 122,517 SH   SOLE   122,517 0 0
CORECIVIC INC COM 21871N101 3,679 154,001 SH   SOLE   154,001 0 0
PARK HOTELS RESORTS INC COM 700517105 7,926 258,754 SH   SOLE   258,754 0 0
GRAMERCY PPTY TR COM NEW 385002308 5,613 205,436 SH   SOLE   205,436 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 24,268 146,971 SH   SOLE   146,971 0 0
GGP INC COM 36174X101 16,393 802,374 SH   SOLE   802,374 0 0
INVITATION HOMES INC COM 46187W107 8,857 384,097 SH   SOLE   384,097 0 0
CLIPPER RLTY INC COM 18885T306 182 21,288 SH   SOLE   21,288 0 0
GLOBAL NET LEASE INC COM NEW 379378201 1,791 87,682 SH   SOLE   87,682 0 0
UNITI GROUP INC COM 91325V108 4,254 212,357 SH   SOLE   212,357 0 0
SAFETY INCOME & GROWTH INC COM 78649D104 209 10,996 SH   SOLE   10,996 0 0
JBG SMITH PPTYS COM 46590V100 4,821 132,181 SH   SOLE   132,181 0 0
VICI PPTYS INC COM 925652109 7,269 352,193 SH   SOLE   352,193 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 621 27,799 SH   SOLE   27,799 0 0
FRONT YD RESIDENTIAL CORP COM 35904G107 620 59,534 SH   SOLE   59,534 0 0
BRAEMAR HOTELS & RESORTS INC COM 10482B101 454 39,766 SH   SOLE   39,766 0 0
SPIRIT MTA REIT COM SHS BEN IN 84861U105 615 59,766 SH   SOLE   59,766 0 0
DDR CORP COM 23317H854 3,516 196,448 SH   SOLE   196,448 0 0
COLONY CAP INC NEW CL A COM 19626G108 3,920 628,309 SH   SOLE   628,309 0 0