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
ACADIA RLTY TR COM SH BEN INT 004239109 806 29,461 SH   SOLE   29,461 0 0
AGREE REALTY CORP COM 008492100 4,977 77,709 SH   SOLE   77,709 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 441 32,612 SH   SOLE   32,612 0 0
UMH PPTYS INC COM 903002103 153 12,345 SH   SOLE   12,345 0 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 398 4,687 SH   SOLE   4,687 0 0
URSTADT BIDDLE PPTYS INC CL A 917286205 227 10,812 SH   SOLE   10,812 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 1,069 40,562 SH   SOLE   40,562 0 0
VENTAS INC COM 92276F100 16,184 236,790 SH   SOLE   236,790 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 715 86,510 SH   SOLE   86,510 0 0
GETTY RLTY CORP NEW COM 374297109 368 11,978 SH   SOLE   11,978 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 903 63,110 SH   SOLE   63,110 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 1,474 58,974 SH   SOLE   58,974 0 0
LEXINGTON REALTY TRUST COM 529043101 776 82,553 SH   SOLE   82,553 0 0
MACK CALI RLTY CORP COM 554489104 770 33,091 SH   SOLE   33,091 0 0
MID AMER APT CMNTYS INC COM 59522J103 4,846 41,156 SH   SOLE   41,156 0 0
REALTY INCOME CORP COM 756109104 13,773 199,709 SH   SOLE   199,709 0 0
SAUL CTRS INC COM 804395101 242 4,314 SH   SOLE   4,314 0 0
SUN CMNTYS INC COM 866674104 17,630 137,537 SH   SOLE   137,537 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 544 33,608 SH   SOLE   33,608 0 0
RAYONIER INC COM 754907103 1,421 46,899 SH   SOLE   46,899 0 0
ALEXANDERS INC COM 014752109 288 778 SH   SOLE   778 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 17,174 121,725 SH   SOLE   121,725 0 0
CBL & ASSOC PPTYS INC COM 124830100 63 61,079 SH   SOLE   61,079 0 0
CAMDEN PPTY TR SH BEN INT 133131102 12,013 115,086 SH   SOLE   115,086 0 0
EASTGROUP PPTY INC COM 277276101 4,989 43,024 SH   SOLE   43,024 0 0
ESSEX PPTY TR INC COM 297178105 19,410 66,490 SH   SOLE   66,490 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 9,553 74,197 SH   SOLE   74,197 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 1,673 45,555 SH   SOLE   45,555 0 0
HEALTHCARE RLTY TR COM 421946104 1,444 46,109 SH   SOLE   46,109 0 0
HIGHWOODS PPTYS INC COM 431284108 1,526 36,966 SH   SOLE   36,966 0 0
KILROY RLTY CORP COM 49427F108 8,644 117,120 SH   SOLE   117,120 0 0
LTC PPTYS INC COM 502175102 656 14,388 SH   SOLE   14,388 0 0
LIBERTY PPTY TR SH BEN INT 531172104 2,678 53,522 SH   SOLE   53,522 0 0
MACERICH CO COM 554382101 1,713 51,167 SH   SOLE   51,167 0 0
NATIONAL HEALTH INVS INC COM 63633D104 1,166 14,954 SH   SOLE   14,954 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 2,844 77,395 SH   SOLE   77,395 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 1,215 7,212 SH   SOLE   7,212 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 163 25,160 SH   SOLE   25,160 0 0
TAUBMAN CTRS INC COM 876664103 1,743 42,709 SH   SOLE   42,709 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 782 29,264 SH   SOLE   29,264 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 1,204 43,931 SH   SOLE   43,931 0 0
KIMCO RLTY CORP COM 49446R109 2,702 146,235 SH   SOLE   146,235 0 0
VORNADO RLTY TR SH BEN INT 929042109 4,014 62,630 SH   SOLE   62,630 0 0
AVALONBAY CMNTYS INC COM 053484101 20,655 101,662 SH   SOLE   101,662 0 0
BOSTON PROPERTIES INC COM 101121101 23,231 180,088 SH   SOLE   180,088 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 20,135 265,222 SH   SOLE   265,222 0 0
HOST HOTELS & RESORTS INC COM 44107P104 13,577 745,203 SH   SOLE   745,203 0 0
SL GREEN RLTY CORP COM 78440X101 8,669 107,865 SH   SOLE   107,865 0 0
DUKE REALTY CORP COM NEW 264411505 6,145 194,405 SH   SOLE   194,405 0 0
PUBLIC STORAGE COM 74460D109 20,937 87,910 SH   SOLE   87,910 0 0
SIMON PPTY GROUP INC NEW COM 828806109 35,329 221,142 SH   SOLE   221,142 0 0
WEYERHAEUSER CO COM 962166104 14,356 545,037 SH   SOLE   545,037 0 0
REGENCY CTRS CORP COM 758849103 13,837 207,335 SH   SOLE   207,335 0 0
GLADSTONE COML CORP COM 376536108 222 10,485 SH   SOLE   10,485 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 94 31,828 SH   SOLE   31,828 0 0
ISHARES TR U.S. REAL ES ETF 464287739 32,341 370,420 SH   SOLE   370,420 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 85 32,346 SH   SOLE   32,346 0 0
EXTRA SPACE STORAGE INC COM 30225T102 12,009 113,187 SH   SOLE   113,187 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 2,285 49,511 SH   SOLE   49,511 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 5,818 424,419 SH   SOLE   424,419 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553 3,496 40,000 SH   SOLE   40,000 0 0
DIGITAL RLTY TR INC COM 253868103 14,918 126,654 SH   SOLE   126,654 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 17,114 141,047 SH   SOLE   141,047 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 750 72,569 SH   SOLE   72,569 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 2,471 141,740 SH   SOLE   141,740 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 281 38,128 SH   SOLE   38,128 0 0
POTLATCHDELTIC CORPORATION COM 737630103 929 23,835 SH   SOLE   23,835 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 3,112 58,711 SH   SOLE   58,711 0 0
DOUGLAS EMMETT INC COM 25960P109 2,325 58,370 SH   SOLE   58,370 0 0
UDR INC COM 902653104 4,541 101,167 SH   SOLE   101,167 0 0
HCP INC COM 40414L109 13,755 430,118 SH   SOLE   430,118 0 0
STARWOOD PPTY TR INC COM 85571B105 3,595 158,252 SH   SOLE   158,252 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 703 41,085 SH   SOLE   41,085 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 4,213 149,517 SH   SOLE   149,517 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 616 21,694 SH   SOLE   21,694 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 899 45,124 SH   SOLE   45,124 0 0
TERRENO RLTY CORP COM 88146M101 6,761 137,877 SH   SOLE   137,877 0 0
CHATHAM LODGING TR COM 16208T102 316 16,777 SH   SOLE   16,777 0 0
HUDSON PAC PPTYS INC COM 444097109 6,526 196,153 SH   SOLE   196,153 0 0
CORESITE RLTY CORP COM 21870Q105 1,529 13,282 SH   SOLE   13,282 0 0
WHITESTONE REIT COM 966084204 177 13,958 SH   SOLE   13,958 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,281 65,066 SH   SOLE   65,066 0 0
AMERICAN ASSETS TR INC COM 024013104 796 16,910 SH   SOLE   16,910 0 0
INTERXION HOLDING N.V SHS N47279109 3,043 40,000 SH   SOLE   40,000 0 0
SUMMIT HOTEL PPTYS INC COM 866082100 433 37,819 SH   SOLE   37,819 0 0
PREFERRED APT CMNTYS INC COM 74039L103 223 14,977 SH   SOLE   14,977 0 0
STAG INDL INC COM 85254J102 1,378 45,581 SH   SOLE   45,581 0 0
RLJ LODGING TR COM 74965L101 1,100 62,049 SH   SOLE   62,049 0 0
PROLOGIS INC COM 74340W103 40,857 510,081 SH   SOLE   510,081 0 0
CUBESMART COM 229663109 2,280 68,198 SH   SOLE   68,198 0 0
AMERICAN TOWER CORP NEW COM 03027X100 56,209 274,932 SH   SOLE   274,932 0 0
RETAIL PPTYS AMER INC CL A 76131V202 907 77,147 SH   SOLE   77,147 0 0
AMERICOLD RLTY TR COM 03064D108 6,686 206,249 SH   SOLE   206,249 0 0
ALEXANDER & BALDWIN INC NEW COM 014491104 576 24,975 SH   SOLE   24,975 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 1,340 16,537 SH   SOLE   16,537 0 0
W P CAREY INC COM 92936U109 4,972 61,258 SH   SOLE   61,258 0 0
EPR PPTYS COM SH BEN INT 26884U109 2,023 27,123 SH   SOLE   27,123 0 0
GLOBAL MED REIT INC COM NEW 37954A204 116 11,085 SH   SOLE   11,085 0 0
LIFE STORAGE INC COM 53223X107 1,602 16,858 SH   SOLE   16,858 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 261 68,357 SH   SOLE   68,357 0 0
AMERICAN FIN TR INC COM CLASS A 02607T109 419 38,524 SH   SOLE   38,524 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 4,132 110,000 SH   SOLE   110,000 0 0
CORECIVIC INC COM 21871N101 891 42,931 SH   SOLE   42,931 0 0
PARK HOTELS RESORTS INC COM 700517105 2,008 72,876 SH   SOLE   72,876 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 17,796 79,153 SH   SOLE   79,153 0 0
INVITATION HOMES INC COM 46187W107 11,870 444,088 SH   SOLE   444,088 0 0
GLOBAL NET LEASE INC COM NEW 379378201 596 30,410 SH   SOLE   30,410 0 0
UNITI GROUP INC COM 91325V108 633 66,682 SH   SOLE   66,682 0 0
JBG SMITH PPTYS COM 46590V100 1,741 44,258 SH   SOLE   44,258 0 0
VICI PPTYS INC COM 925652109 8,862 402,108 SH   SOLE   402,108 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 492 23,634 SH   SOLE   23,634 0 0
FRONT YD RESIDENTIAL CORP COM 35904G107 220 18,035 SH   SOLE   18,035 0 0
BRAEMAR HOTELS & RESORTS INC COM 10482B101 105 10,697 SH   SOLE   10,697 0 0
SPIRIT MTA REIT COM SHS BEN IN 84861U105 131 15,739 SH   SOLE   15,739 0 0
COREPOINT LODGING INC COM 21872L104 187 15,130 SH   SOLE   15,130 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 357 17,853 SH   SOLE   17,853 0 0
COLONY CAP INC NEW CL A COM 19626G108 2,576 515,252 SH   SOLE   515,252 0 0
BROOKFIELD PROPERTY REIT INC CL A 11282X103 644 34,123 SH   SOLE   34,123 0 0
SITE CENTERS CORP COM 82981J109 669 50,598 SH   SOLE   50,598 0 0
RPT REALTY SH BEN INT 74971D101 351 29,013 SH   SOLE   29,013 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 1,342 31,478 SH   SOLE   31,478 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730509 257 4,386 SH   SOLE   4,386 0 0
OFFICE PPTYS INCOME TR COM SHS BEN INT 67623C109 457 17,434 SH   SOLE   17,434 0 0
APARTMENT INVT & MGMT CO CL A 03748R754 2,682 53,513 SH   SOLE   53,513 0 0
COUSINS PPTYS INC COM NEW 222795502 1,907 52,741 SH   SOLE   52,741 0 0
CYRUSONE INC COM 23283R100 6,042 104,694 SH   SOLE   104,694 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 310 18,763 SH   SOLE   18,763 0 0
REXFORD INDL RLTY INC COM 76169C100 17,741 439,469 SH   SOLE   439,469 0 0
PHYSICIANS RLTY TR COM 71943U104 1,165 66,807 SH   SOLE   66,807 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 10,997 452,393 SH   SOLE   452,393 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 377 32,614 SH   SOLE   32,614 0 0
EMPIRE ST RLTY TR INC CL A 292104106 785 53,020 SH   SOLE   53,020 0 0
QTS RLTY TR INC COM CL A 74736A103 5,651 122,372 SH   SOLE   122,372 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 874 42,159 SH   SOLE   42,159 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 7,358 188,774 SH   SOLE   188,774 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 1,922 107,502 SH   SOLE   107,502 0 0
CATCHMARK TIMBER TR INC CL A 14912Y202 187 17,959 SH   SOLE   17,959 0 0
FARMLAND PARTNERS INC COM 31154R109 77 11,014 SH   SOLE   11,014 0 0
CITY OFFICE REIT INC COM 178587101 170 14,200 SH   SOLE   14,200 0 0
CARETRUST REIT INC COM 14174T107 818 34,405 SH   SOLE   34,405 0 0
GEO GROUP INC NEW COM 36162J106 901 42,888 SH   SOLE   42,888 0 0
KITE RLTY GROUP TR COM NEW 49803T300 457 30,260 SH   SOLE   30,260 0 0
NEW SR INVT GROUP INC COM 648691103 200 29,833 SH   SOLE   29,833 0 0
STORE CAP CORP COM 862121100 2,490 75,048 SH   SOLE   75,048 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 2,487 30,817 SH   SOLE   30,817 0 0
PARAMOUNT GROUP INC COM 69924R108 1,021 72,935 SH   SOLE   72,935 0 0
OUTFRONT MEDIA INC COM 69007J106 1,314 50,977 SH   SOLE   50,977 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 37,418 287,061 SH   SOLE   287,061 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 5,191 189,276 SH   SOLE   189,276 0 0
URBAN EDGE PPTYS COM 91704F104 718 41,480 SH   SOLE   41,480 0 0
IRON MTN INC NEW COM 46284V101 3,231 103,254 SH   SOLE   103,254 0 0
EQUINIX INC COM 29444U700 32,591 64,628 SH   SOLE   64,628 0 0
XENIA HOTELS & RESORTS INC COM 984017103 859 41,209 SH   SOLE   41,209 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 445 24,592 SH   SOLE   24,592 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102 282 6,834 SH   SOLE   6,834 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 2,046 70,704 SH   SOLE   70,704 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 1,206 76,058 SH   SOLE   76,058 0 0
COMMUNITY HEALTHCARE TR INC COM 20369C106 255 6,495 SH   SOLE   6,495 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 215 13,021 SH   SOLE   13,021 0 0
VEREIT INC COM 92339V100 3,179 352,927 SH   SOLE   352,927 0 0
WELLTOWER INC COM 95040Q104 21,396 262,434 SH   SOLE   262,434 0 0
NORTHSTAR REALTY EUROPE CORP COM 66706L101 268 16,338 SH   SOLE   16,338 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 2,043 74,774 SH   SOLE   74,774 0 0