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 656 25,333 SH   SOLE   25,333 0 0
AGREE REALTY CORP COM 008492100 5,418 77,213 SH   SOLE   77,213 0 0
ALEXANDER & BALDWIN INC NEW COM 014491104 428 20,424 SH   SOLE   20,424 0 0
ALEXANDERS INC COM 014752109 209 635 SH   SOLE   635 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 18,565 114,902 SH   SOLE   114,902 0 0
AMERICAN ASSETS TR INC COM 024013104 660 14,387 SH   SOLE   14,387 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 1,923 40,898 SH   SOLE   40,898 0 0
AMERICAN FIN TR INC COM CLASS A 02607T109 421 31,822 SH   SOLE   31,822 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 6,340 241,918 SH   SOLE   241,918 0 0
AMERICAN TOWER CORP NEW COM 03027X100 68,494 298,037 SH   SOLE   298,037 0 0
AMERICOLD RLTY TR COM 03064D108 8,670 247,312 SH   SOLE   247,312 0 0
APARTMENT INVT & MGMT CO CL A 03748R754 2,283 44,204 SH   SOLE   44,204 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 1,020 62,827 SH   SOLE   62,827 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 287 15,666 SH   SOLE   15,666 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 74 26,793 SH   SOLE   26,793 0 0
AVALONBAY CMNTYS INC COM 053484101 22,330 106,486 SH   SOLE   106,486 0 0
BOSTON PROPERTIES INC COM 101121101 14,622 106,065 SH   SOLE   106,065 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 821 52,132 SH   SOLE   52,132 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 1,918 88,801 SH   SOLE   88,801 0 0
BROOKFIELD PROPERTY REIT INC CL A 11282X103 360 19,539 SH   SOLE   19,539 0 0
CAMDEN PPTY TR SH BEN INT 133131102 2,949 27,796 SH   SOLE   27,796 0 0
CARETRUST REIT INC COM 14174T107 586 28,420 SH   SOLE   28,420 0 0
CATCHMARK TIMBER TR INC CL A 14912Y202 167 14,592 SH   SOLE   14,592 0 0
CBL & ASSOC PPTYS INC COM 124830100 52 50,454 SH   SOLE   50,454 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 75 25,522 SH   SOLE   25,522 0 0
CHATHAM LODGING TR COM 16208T102 250 13,659 SH   SOLE   13,659 0 0
CITY OFFICE REIT INC COM 178587101 213 15,789 SH   SOLE   15,789 0 0
COLONY CAP INC NEW CL A COM 19626G108 2,341 492,974 SH   SOLE   492,974 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 728 34,825 SH   SOLE   34,825 0 0
COMMUNITY HEALTHCARE TR INC COM 20369C106 235 5,492 SH   SOLE   5,492 0 0
CORECIVIC INC COM 21871N101 616 35,462 SH   SOLE   35,462 0 0
COREPOINT LODGING INC COM 21872L104 127 11,903 SH   SOLE   11,903 0 0
CORESITE RLTY CORP COM 21870Q105 1,250 11,149 SH   SOLE   11,149 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 984 33,505 SH   SOLE   33,505 0 0
COUSINS PPTYS INC COM NEW 222795502 1,794 43,565 SH   SOLE   43,565 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 35,347 248,664 SH   SOLE   248,664 0 0
CUBESMART COM 229663109 1,809 57,474 SH   SOLE   57,474 0 0
CYRUSONE INC COM 23283R100 3,957 60,485 SH   SOLE   60,485 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 664 59,944 SH   SOLE   59,944 0 0
DIGITAL RLTY TR INC COM 253868103 11,364 94,906 SH   SOLE   94,906 0 0
DOUGLAS EMMETT INC COM 25960P109 2,178 49,622 SH   SOLE   49,622 0 0
DUKE REALTY CORP COM NEW 264411505 8,475 244,465 SH   SOLE   244,465 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 522 22,034 SH   SOLE   22,034 0 0
EASTGROUP PPTY INC COM 277276101 5,471 41,238 SH   SOLE   41,238 0 0
EMPIRE ST RLTY TR INC CL A 292104106 617 44,235 SH   SOLE   44,235 0 0
EPR PPTYS COM SH BEN INT 26884U109 1,626 23,023 SH   SOLE   23,023 0 0
EQUINIX INC COM 29444U700 35,518 60,851 SH   SOLE   60,851 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 18,063 256,618 SH   SOLE   256,618 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 22,981 283,999 SH   SOLE   283,999 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 4,686 188,894 SH   SOLE   188,894 0 0
ESSEX PPTY TR INC COM 297178105 16,394 54,492 SH   SOLE   54,492 0 0
EXTRA SPACE STORAGE INC COM 30225T102 11,344 107,410 SH   SOLE   107,410 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 8,524 66,222 SH   SOLE   66,222 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 1,558 37,538 SH   SOLE   37,538 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 574 20,389 SH   SOLE   20,389 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 264 30,896 SH   SOLE   30,896 0 0
FRONT YD RESIDENTIAL CORP COM 35904G107 181 14,739 SH   SOLE   14,739 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 7,758 180,230 SH   SOLE   180,230 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 6,951 134,775 SH   SOLE   134,775 0 0
GEO GROUP INC NEW COM 36162J106 588 35,427 SH   SOLE   35,427 0 0
GETTY RLTY CORP NEW COM 374297109 326 9,933 SH   SOLE   9,933 0 0
GLOBAL NET LEASE INC COM NEW 379378201 540 26,663 SH   SOLE   26,663 0 0
HEALTHCARE RLTY TR COM 421946104 1,308 39,221 SH   SOLE   39,221 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 1,845 60,957 SH   SOLE   60,957 0 0
HEALTHPEAK PPTYS INC COM 42250P103 17,114 496,493 SH   SOLE   496,493 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 151 10,385 SH   SOLE   10,385 0 0
HIGHWOODS PPTYS INC COM 431284108 1,493 30,535 SH   SOLE   30,535 0 0
HOST HOTELS & RESORTS INC COM 44107P104 12,275 661,737 SH   SOLE   661,737 0 0
HUDSON PAC PPTYS INC COM 444097109 10,370 275,440 SH   SOLE   275,440 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 377 26,784 SH   SOLE   26,784 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 432 19,292 SH   SOLE   19,292 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730509 251 3,467 SH   SOLE   3,467 0 0
INVITATION HOMES INC COM 46187W107 16,759 559,204 SH   SOLE   559,204 0 0
IRON MTN INC NEW COM 46284V101 2,704 84,852 SH   SOLE   84,852 0 0
ISHARES TR U.S. REAL ES ETF 464287739 15,244 163,782 SH   SOLE   163,782 0 0
JBG SMITH PPTYS COM 46590V100 1,458 36,559 SH   SOLE   36,559 0 0
KILROY RLTY CORP COM 49427F108 8,049 95,936 SH   SOLE   95,936 0 0
KIMCO RLTY CORP COM 49446R109 2,488 120,171 SH   SOLE   120,171 0 0
KITE RLTY GROUP TR COM NEW 49803T300 481 24,663 SH   SOLE   24,663 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 2,272 25,456 SH   SOLE   25,456 0 0
LEXINGTON REALTY TRUST COM 529043101 760 71,595 SH   SOLE   71,595 0 0
LIBERTY PPTY TR SH BEN INT 531172104 2,783 46,357 SH   SOLE   46,357 0 0
LIFE STORAGE INC COM 53223X107 1,503 13,885 SH   SOLE   13,885 0 0
LTC PPTYS INC COM 502175102 524 11,718 SH   SOLE   11,718 0 0
MACERICH CO COM 554382101 1,137 42,266 SH   SOLE   42,266 0 0
MACK CALI RLTY CORP COM 554489104 596 25,783 SH   SOLE   25,783 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 3,225 152,801 SH   SOLE   152,801 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 2,632 85,000 SH   SOLE   85,000 0 0
MID AMER APT CMNTYS INC COM 59522J103 13,690 103,823 SH   SOLE   103,823 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 398 27,502 SH   SOLE   27,502 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 2,729 50,907 SH   SOLE   50,907 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 593 17,663 SH   SOLE   17,663 0 0
NATIONAL HEALTH INVS INC COM 63633D104 1,027 12,615 SH   SOLE   12,615 0 0
NEW SR INVT GROUP INC COM 648691103 190 24,918 SH   SOLE   24,918 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102 253 5,632 SH   SOLE   5,632 0 0
OFFICE PPTYS INCOME TR COM SHS BEN INT 67623C109 456 14,200 SH   SOLE   14,200 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 2,743 64,786 SH   SOLE   64,786 0 0
OUTFRONT MEDIA INC COM 69007J106 1,145 42,727 SH   SOLE   42,727 0 0
PARAMOUNT GROUP INC COM 69924R108 809 58,127 SH   SOLE   58,127 0 0
PARK HOTELS RESORTS INC COM 700517105 1,846 71,359 SH   SOLE   71,359 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 1,037 38,713 SH   SOLE   38,713 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 110 20,665 SH   SOLE   20,665 0 0
PHYSICIANS RLTY TR COM 71943U104 1,046 55,271 SH   SOLE   55,271 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 828 37,274 SH   SOLE   37,274 0 0
POTLATCHDELTIC CORPORATION COM 737630103 851 19,688 SH   SOLE   19,688 0 0
PREFERRED APT CMNTYS INC COM 74039L103 176 13,220 SH   SOLE   13,220 0 0
PROLOGIS INC COM 74340W103 42,092 472,201 SH   SOLE   472,201 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 982 5,958 SH   SOLE   5,958 0 0
PUBLIC STORAGE COM 74460D109 17,489 82,126 SH   SOLE   82,126 0 0
QTS RLTY TR INC COM CL A 74736A103 5,700 105,041 SH   SOLE   105,041 0 0
RAYONIER INC COM 754907103 1,269 38,741 SH   SOLE   38,741 0 0
REALTY INCOME CORP COM 756109104 14,514 197,129 SH   SOLE   197,129 0 0
REGENCY CTRS CORP COM 758849103 10,064 159,520 SH   SOLE   159,520 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 591 33,519 SH   SOLE   33,519 0 0
RETAIL PPTYS AMER INC CL A 76131V202 853 63,727 SH   SOLE   63,727 0 0
REXFORD INDL RLTY INC COM 76169C100 12,906 282,611 SH   SOLE   282,611 0 0
RLJ LODGING TR COM 74965L101 887 50,071 SH   SOLE   50,071 0 0
RPT REALTY SH BEN INT 74971D101 349 23,246 SH   SOLE   23,246 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 1,183 13,660 SH   SOLE   13,660 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 3,567 167,181 SH   SOLE   167,181 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 18,535 76,914 SH   SOLE   76,914 0 0
SERVICE PPTYS TR COM SH BEN INT 81761L102 1,185 48,715 SH   SOLE   48,715 0 0
SIMON PPTY GROUP INC NEW COM 828806109 29,885 200,628 SH   SOLE   200,628 0 0
SITE CENTERS CORP COM 82981J109 5,532 394,633 SH   SOLE   394,633 0 0
SL GREEN RLTY CORP COM 78440X101 10,636 115,766 SH   SOLE   115,766 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 1,451 29,513 SH   SOLE   29,513 0 0
STAG INDL INC COM 85254J102 1,251 39,632 SH   SOLE   39,632 0 0
STARWOOD PPTY TR INC COM 85571B105 3,977 160,000 SH   SOLE   160,000 0 0
STORE CAP CORP COM 862121100 8,519 228,776 SH   SOLE   228,776 0 0
SUMMIT HOTEL PPTYS INC COM 866082100 380 30,813 SH   SOLE   30,813 0 0
SUN CMNTYS INC COM 866674104 18,605 123,951 SH   SOLE   123,951 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 930 66,821 SH   SOLE   66,821 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 400 27,198 SH   SOLE   27,198 0 0
TAUBMAN CTRS INC COM 876664103 1,227 39,475 SH   SOLE   39,475 0 0
TERRENO RLTY CORP COM 88146M101 7,554 139,538 SH   SOLE   139,538 0 0
UDR INC COM 902653104 4,034 86,400 SH   SOLE   86,400 0 0
UMH PPTYS INC COM 903002103 167 10,668 SH   SOLE   10,668 0 0
UNITI GROUP INC COM 91325V108 1,232 150,082 SH   SOLE   150,082 0 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 447 3,816 SH   SOLE   3,816 0 0
URBAN EDGE PPTYS COM 91704F104 657 34,264 SH   SOLE   34,264 0 0
URSTADT BIDDLE PPTYS INC CL A 917286205 218 8,803 SH   SOLE   8,803 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553 7,887 85,000 SH   SOLE   85,000 0 0
VENTAS INC COM 92276F100 11,025 190,949 SH   SOLE   190,949 0 0
VEREIT INC COM 92339V100 2,939 318,132 SH   SOLE   318,132 0 0
VICI PPTYS INC COM 925652109 9,644 377,486 SH   SOLE   377,486 0 0
VORNADO RLTY TR SH BEN INT 929042109 3,422 51,469 SH   SOLE   51,469 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 202 55,611 SH   SOLE   55,611 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 696 23,876 SH   SOLE   23,876 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 1,130 36,198 SH   SOLE   36,198 0 0
WELLTOWER INC COM 95040Q104 24,596 300,767 SH   SOLE   300,767 0 0
WEYERHAEUSER CO COM 962166104 11,684 386,918 SH   SOLE   386,918 0 0
WHITESTONE REIT COM 966084204 155 11,404 SH   SOLE   11,404 0 0
W P CAREY INC COM 92936U109 4,073 50,897 SH   SOLE   50,897 0 0
XENIA HOTELS & RESORTS INC COM 984017103 729 33,741 SH   SOLE   33,741 0 0