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 409 33,051 SH   SOLE   33,051 0 0
AGREE REALTY CORP COM 008492100 5,471 88,392 SH   SOLE   88,392 0 0
ALEXANDER & BALDWIN INC NEW COM 014491104 295 26,366 SH   SOLE   26,366 0 0
ALEXANDERS INC COM 014752109 253 919 SH   SOLE   919 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 17,599 128,406 SH   SOLE   128,406 0 0
AMERICAN ASSETS TR INC COM 024013104 463 18,539 SH   SOLE   18,539 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 1,491 53,740 SH   SOLE   53,740 0 0
AMERICAN FIN TR INC COM CLASS A 02607T109 257 41,166 SH   SOLE   41,166 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 6,152 265,201 SH   SOLE   265,201 0 0
AMERICAN TOWER CORP NEW COM 03027X100 73,832 339,068 SH   SOLE   339,068 0 0
AMERICOLD RLTY TR COM 03064D108 9,016 264,879 SH   SOLE   264,879 0 0
APARTMENT INVT & MGMT CO CL A 03748R754 2,023 57,574 SH   SOLE   57,574 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 743 81,095 SH   SOLE   81,095 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 235 22,044 SH   SOLE   22,044 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 27 36,916 SH   SOLE   36,916 0 0
AVALONBAY CMNTYS INC COM 053484101 17,584 119,484 SH   SOLE   119,484 0 0
BLUEROCK RESIDENTIAL GRW REI COM CL A 09627J102 80 14,403 SH   SOLE   14,403 0 0
BOSTON PROPERTIES INC COM 101121101 11,094 120,292 SH   SOLE   120,292 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 702 66,738 SH   SOLE   66,738 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 1,085 114,234 SH   SOLE   114,234 0 0
BROOKFIELD PPTY REIT INC CL A 11282X103 216 25,497 SH   SOLE   25,497 0 0
CAMDEN PPTY TR SH BEN INT 133131102 2,882 36,377 SH   SOLE   36,377 0 0
CARETRUST REIT INC COM 14174T107 543 36,764 SH   SOLE   36,764 0 0
CATCHMARK TIMBER TR INC CL A 14912Y202 137 19,068 SH   SOLE   19,068 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 50 54,621 SH   SOLE   54,621 0 0
CHATHAM LODGING TR COM 16208T102 140 23,661 SH   SOLE   23,661 0 0
CITY OFFICE REIT INC COM 178587101 145 20,171 SH   SOLE   20,171 0 0
COLONY CAP INC NEW CL A COM 19626G108 516 295,388 SH   SOLE   295,388 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 540 43,247 SH   SOLE   43,247 0 0
COMMUNITY HEALTHCARE TR INC COM 20369C106 282 7,392 SH   SOLE   7,392 0 0
CORECIVIC INC COM 21871N101 536 48,055 SH   SOLE   48,055 0 0
COREPOINT LODGING INC COM 21872L104 64 16,534 SH   SOLE   16,534 0 0
CORESITE RLTY CORP COM 21870Q105 1,696 14,635 SH   SOLE   14,635 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 986 44,555 SH   SOLE   44,555 0 0
COUSINS PPTYS INC COM NEW 222795502 1,672 57,140 SH   SOLE   57,140 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 41,497 287,381 SH   SOLE   287,381 0 0
CUBESMART COM 229663109 2,010 75,054 SH   SOLE   75,054 0 0
CYRUSONE INC COM 23283R100 5,294 85,743 SH   SOLE   85,743 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 397 78,263 SH   SOLE   78,263 0 0
DIGITAL RLTY TR INC COM 253868103 20,437 147,130 SH   SOLE   147,130 0 0
DIVERSIFIED HEALTHCARE TR COM SH BEN INT 25525P107 367 101,339 SH   SOLE   101,339 0 0
DOUGLAS EMMETT INC COM 25960P109 1,972 64,649 SH   SOLE   64,649 0 0
DUKE REALTY CORP COM NEW 264411505 9,010 278,259 SH   SOLE   278,259 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 731 29,684 SH   SOLE   29,684 0 0
EASTGROUP PPTY INC COM 277276101 4,703 45,015 SH   SOLE   45,015 0 0
EMPIRE ST RLTY TR INC CL A 292104106 518 57,899 SH   SOLE   57,899 0 0
EPR PPTYS COM SH BEN INT 26884U109 730 30,148 SH   SOLE   30,148 0 0
EQUINIX INC COM 29444U700 44,837 71,789 SH   SOLE   71,789 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 18,255 317,599 SH   SOLE   317,599 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 19,941 323,143 SH   SOLE   323,143 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 3,080 235,836 SH   SOLE   235,836 0 0
ESSEX PPTY TR INC COM 297178105 11,789 53,531 SH   SOLE   53,531 0 0
EXTRA SPACE STORAGE INC COM 30225T102 10,917 114,007 SH   SOLE   114,007 0 0
FARMLAND PARTNERS INC COM 31154R109 104 17,184 SH   SOLE   17,184 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 2,172 29,121 SH   SOLE   29,121 0 0
FIRST INDL RLTY TR INC COM 32054K103 1,630 49,077 SH   SOLE   49,077 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 520 27,799 SH   SOLE   27,799 0 0
FRANKLIN STR PPTYS CORP COM 35471R106 225 39,353 SH   SOLE   39,353 0 0
FRONT YD RESIDENTIAL CORP COM 35904G107 227 19,073 SH   SOLE   19,073 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 6,081 219,462 SH   SOLE   219,462 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 8,695 150,000 SH   SOLE   150,000 0 0
GEO GROUP INC NEW COM 36162J106 579 47,655 SH   SOLE   47,655 0 0
GETTY RLTY CORP NEW COM 374297109 300 12,666 SH   SOLE   12,666 0 0
GLADSTONE COMMERCIAL CORP COM 376536108 202 14,133 SH   SOLE   14,133 0 0
GLADSTONE LD CORP COM 376549101 140 11,856 SH   SOLE   11,856 0 0
GLOBAL MED REIT INC COM NEW 37954A204 151 14,936 SH   SOLE   14,936 0 0
GLOBAL NET LEASE INC COM NEW 379378201 462 34,574 SH   SOLE   34,574 0 0
HEALTHCARE RLTY TR COM 421946104 1,437 51,455 SH   SOLE   51,455 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 2,038 83,942 SH   SOLE   83,942 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 11,876 497,952 SH   SOLE   497,952 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 77 21,711 SH   SOLE   21,711 0 0
HIGHWOODS PPTYS INC COM 431284108 1,422 40,166 SH   SOLE   40,166 0 0
HOST HOTELS & RESORTS INC COM 44107P104 3,062 277,410 SH   SOLE   277,410 0 0
HUDSON PAC PPTYS INC COM 444097109 6,459 254,709 SH   SOLE   254,709 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 310 34,733 SH   SOLE   34,733 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 463 26,421 SH   SOLE   26,421 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730509 266 4,837 SH   SOLE   4,837 0 0
INVITATION HOMES INC COM 46187W107 13,857 648,451 SH   SOLE   648,451 0 0
IRON MTN INC NEW COM 46284V101 2,642 111,023 SH   SOLE   111,023 0 0
ISHARES TR U.S. REAL ES ETF 464287739 1,043 15,000 SH   SOLE   15,000 0 0
JBG SMITH PPTYS COM 46590V100 1,521 47,791 SH   SOLE   47,791 0 0
KILROY RLTY CORP COM 49427F108 6,717 105,462 SH   SOLE   105,462 0 0
KIMCO RLTY CORP COM 49446R109 1,560 161,366 SH   SOLE   161,366 0 0
KITE RLTY GROUP TR COM NEW 49803T300 299 31,614 SH   SOLE   31,614 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 1,703 33,218 SH   SOLE   33,218 0 0
LEXINGTON REALTY TRUST COM 529043101 943 95,047 SH   SOLE   95,047 0 0
LIFE STORAGE INC COM 53223X107 1,717 18,167 SH   SOLE   18,167 0 0
LTC PPTYS INC COM 502175102 465 15,071 SH   SOLE   15,071 0 0
MACERICH CO COM 554382101 308 54,805 SH   SOLE   54,805 0 0
MACK CALI RLTY CORP COM 554489104 504 33,124 SH   SOLE   33,124 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 3,453 199,747 SH   SOLE   199,747 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 2,011 85,000 SH   SOLE   85,000 0 0
MID AMER APT CMNTYS INC COM 59522J103 12,390 120,258 SH   SOLE   120,258 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 451 37,474 SH   SOLE   37,474 0 0
NATIONAL HEALTH INVS INC COM 63633D104 808 16,334 SH   SOLE   16,334 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106 2,150 66,810 SH   SOLE   66,810 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 702 23,725 SH   SOLE   23,725 0 0
NEW SR INVT GROUP INC COM 648691103 134 52,386 SH   SOLE   52,386 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102 208 8,263 SH   SOLE   8,263 0 0
OFFICE PPTYS INCOME TR COM SHS BEN INT 67623C109 497 18,251 SH   SOLE   18,251 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 2,343 88,291 SH   SOLE   88,291 0 0
OUTFRONT MEDIA INC COM 69007J106 741 54,973 SH   SOLE   54,973 0 0
PARAMOUNT GROUP INC COM 69924R108 655 74,454 SH   SOLE   74,454 0 0
PARK HOTELS RESORTS INC COM 700517105 760 96,202 SH   SOLE   96,202 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 546 50,172 SH   SOLE   50,172 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 19 20,989 SH   SOLE   20,989 0 0
PHYSICIANS RLTY TR COM 71943U104 1,036 74,369 SH   SOLE   74,369 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 868 49,178 SH   SOLE   49,178 0 0
POTLATCHDELTIC CORPORATION COM 737630103 797 25,420 SH   SOLE   25,420 0 0
PREFERRED APT CMNTYS INC COM 74039L103 127 17,820 SH   SOLE   17,820 0 0
PROLOGIS INC. COM 74340W103 49,982 621,905 SH   SOLE   621,905 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 1,073 7,921 SH   SOLE   7,921 0 0
PUBLIC STORAGE COM 74460D109 19,057 95,952 SH   SOLE   95,952 0 0
QTS RLTY TR INC COM CL A 74736A103 6,414 110,580 SH   SOLE   110,580 0 0
RAYONIER INC COM 754907103 1,202 51,072 SH   SOLE   51,072 0 0
REALTY INCOME CORP COM 756109104 12,078 242,246 SH   SOLE   242,246 0 0
REGENCY CTRS CORP COM 758849103 6,720 174,883 SH   SOLE   174,883 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 367 44,354 SH   SOLE   44,354 0 0
RETAIL PPTYS AMER INC CL A 76131V202 434 83,972 SH   SOLE   83,972 0 0
REXFORD INDL RLTY INC COM 76169C100 15,546 379,102 SH   SOLE   379,102 0 0
RLJ LODGING TR COM 74965L101 501 64,936 SH   SOLE   64,936 0 0
RPT REALTY SH BEN INT 74971D101 181 30,156 SH   SOLE   30,156 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 684 19,088 SH   SOLE   19,088 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 2,059 188,570 SH   SOLE   188,570 0 0
SAFEHOLD INC COM 78645L100 312 4,938 SH   SOLE   4,938 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 24,398 90,374 SH   SOLE   90,374 0 0
SERVICE PPTYS TR COM SH BEN INT 81761L102 342 63,399 SH   SOLE   63,399 0 0
SIMON PPTY GROUP INC NEW COM 828806109 9,329 170,053 SH   SOLE   170,053 0 0
SITE CENTERS CORP COM 82981J109 2,653 509,244 SH   SOLE   509,244 0 0
SL GREEN RLTY CORP COM 78440X101 3,237 75,126 SH   SOLE   75,126 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 1,001 38,285 SH   SOLE   38,285 0 0
STAG INDL INC COM 85254J102 1,309 58,138 SH   SOLE   58,138 0 0
STARWOOD PPTY TR INC COM 85571B105 1,178 115,000 SH   SOLE   115,000 0 0
STORE CAP CORP COM 862121100 3,518 194,193 SH   SOLE   194,193 0 0
SUMMIT HOTEL PPTYS INC COM 866082100 172 40,889 SH   SOLE   40,889 0 0
SUN CMNTYS INC COM 866674104 19,762 158,289 SH   SOLE   158,289 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 751 86,249 SH   SOLE   86,249 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 190 38,131 SH   SOLE   38,131 0 0
TAUBMAN CTRS INC COM 876664103 967 23,104 SH   SOLE   23,104 0 0
TERRENO RLTY CORP COM 88146M101 7,544 145,788 SH   SOLE   145,788 0 0
UDR INC COM 902653104 4,133 113,119 SH   SOLE   113,119 0 0
UMH PPTYS INC COM 903002103 150 13,835 SH   SOLE   13,835 0 0
UNITI GROUP INC COM 91325V108 1,356 224,924 SH   SOLE   224,924 0 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 496 4,923 SH   SOLE   4,923 0 0
URBAN EDGE PPTYS COM 91704F104 390 44,280 SH   SOLE   44,280 0 0
URSTADT BIDDLE PPTYS INC CL A 917286205 157 11,141 SH   SOLE   11,141 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553 5,937 85,000 SH   SOLE   85,000 0 0
VENTAS INC COM 92276F100 6,442 240,398 SH   SOLE   240,398 0 0
VEREIT INC COM 92339V100 2,036 416,400 SH   SOLE   416,400 0 0
VICI PPTYS INC COM 925652109 7,654 460,023 SH   SOLE   460,023 0 0
VORNADO RLTY TR SH BEN INT 929042109 2,439 67,374 SH   SOLE   67,374 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 79 99,275 SH   SOLE   99,275 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 782 32,774 SH   SOLE   32,774 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 672 46,617 SH   SOLE   46,617 0 0
WELLTOWER INC COM 95040Q104 15,599 340,746 SH   SOLE   340,746 0 0
WEYERHAEUSER CO COM 962166104 7,720 455,479 SH   SOLE   455,479 0 0
WHITESTONE REIT COM 966084204 149 24,163 SH   SOLE   24,163 0 0
WP CAREY INC COM 92936U109 3,873 66,696 SH   SOLE   66,696 0 0
XENIA HOTELS & RESORTS INC COM 984017103 449 43,615 SH   SOLE   43,615 0 0