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 263 25,073 SH   SOLE   25,073 0 0
AGREE REALTY CORP COM 008492100 4,590 72,132 SH   SOLE   72,132 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 388 28,064 SH   SOLE   28,064 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 791 33,373 SH   SOLE   33,373 0 0
VENTAS INC COM 92276F100 10,894 259,633 SH   SOLE   259,633 0 0
MACK CALI RLTY CORP COM 554489104 323 25,596 SH   SOLE   25,596 0 0
MID-AMER APT CMNTYS INC COM 59522J103 10,735 92,586 SH   SOLE   92,586 0 0
REALTY INCOME CORP COM 756109104 12,389 203,950 SH   SOLE   203,950 0 0
SUN CMNTYS INC COM 866674104 17,586 125,070 SH   SOLE   125,070 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 161 26,770 SH   SOLE   26,770 0 0
RAYONIER INC COM 754907103 1,033 39,104 SH   SOLE   39,104 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 14,968 93,551 SH   SOLE   93,551 0 0
CAMDEN PPTY TR SH BEN INT 133131102 5,289 59,447 SH   SOLE   59,447 0 0
EASTGROUP PPTY INC COM 277276101 4,516 34,924 SH   SOLE   34,924 0 0
ESSEX PPTY TR INC COM 297178105 6,173 30,746 SH   SOLE   30,746 0 0
FEDERAL RLTY INVT TR SH BEN INT NEW 313747206 1,643 22,373 SH   SOLE   22,373 0 0
FIRST INDL RLTY TR INC COM 32054K103 1,493 37,527 SH   SOLE   37,527 0 0
HEALTHCARE RLTY TR COM 421946104 1,203 39,943 SH   SOLE   39,943 0 0
HIGHWOODS PPTYS INC COM 431284108 1,949 58,079 SH   SOLE   58,079 0 0
KILROY RLTY CORP COM 49427F108 3,484 67,058 SH   SOLE   67,058 0 0
LTC PPTYS INC COM 502175102 400 11,494 SH   SOLE   11,494 0 0
MACERICH CO COM 554382101 592 87,283 SH   SOLE   87,283 0 0
NATIONAL HEALTH INVS INC COM 63633D104 766 12,719 SH   SOLE   12,719 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 4,350 145,294 SH   SOLE   145,294 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 727 5,942 SH   SOLE   5,942 0 0
TAUBMAN CTRS INC COM 876664103 1,039 31,238 SH   SOLE   31,238 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 490 24,389 SH   SOLE   24,389 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 611 36,058 SH   SOLE   36,058 0 0
MARRIOTT INTL INC NEW CL A 571903202 870 9,400 SH   SOLE   9,400 0 0
KIMCO RLTY CORP COM 49446R109 2,044 181,606 SH   SOLE   181,606 0 0
VORNADO RLTY TR SH BEN INT 929042109 3,265 96,868 SH   SOLE   96,868 0 0
AVALONBAY CMNTYS INC COM 053484101 11,626 77,855 SH   SOLE   77,855 0 0
BOSTON PROPERTIES INC COM 101121101 7,479 93,143 SH   SOLE   93,143 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 11,311 220,359 SH   SOLE   220,359 0 0
HOST HOTELS & RESORTS INC COM 44107P104 4,229 391,981 SH   SOLE   391,981 0 0
SL GREEN RLTY CORP COM 78440X101 2,895 62,444 SH   SOLE   62,444 0 0
DUKE REALTY CORP COM NEW 264411505 7,936 215,078 SH   SOLE   215,078 0 0
PUBLIC STORAGE COM 74460D109 18,162 81,548 SH   SOLE   81,548 0 0
SIMON PPTY GROUP INC NEW COM 828806109 12,171 188,182 SH   SOLE   188,182 0 0
WEYERHAEUSER CO MTN BE COM NEW 962166104 13,026 456,736 SH   SOLE   456,736 0 0
MGM RESORTS INTERNATIONAL COM 552953101 1,448 66,600 SH   SOLE   66,600 0 0
REGENCY CTRS CORP COM 758849103 6,075 159,800 SH   SOLE   159,800 0 0
WYNN RESORTS LTD COM 983134107 847 11,800 SH   SOLE   11,800 0 0
ISHARES TR U.S. REAL ES ETF 464287739 1,253 15,700 SH   SOLE   15,700 0 0
EXTRA SPACE STORAGE INC COM 30225T102 8,195 76,604 SH   SOLE   76,604 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 1,421 40,698 SH   SOLE   40,698 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 504 63,544 SH   SOLE   63,544 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553 1,239 15,700 SH   SOLE   15,700 0 0
DIGITAL RLTY TR INC COM 253868103 22,563 153,741 SH   SOLE   153,741 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 15,178 247,605 SH   SOLE   247,605 0 0
LAS VEGAS SANDS CORP COM 517834107 1,096 23,500 SH   SOLE   23,500 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 299 59,040 SH   SOLE   59,040 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 3,969 225,132 SH   SOLE   225,132 0 0
FRANKLIN STR PPTYS CORP COM 35471R106 112 30,706 SH   SOLE   30,706 0 0
POTLATCHDELTIC CORPORATION COM 737630103 815 19,371 SH   SOLE   19,371 0 0
NATIONAL RETAIL PROPERTIES I COM 637417106 1,757 50,917 SH   SOLE   50,917 0 0
DOUGLAS EMMETT INC COM 25960P109 1,241 49,461 SH   SOLE   49,461 0 0
UDR INC COM 902653104 2,840 87,107 SH   SOLE   87,107 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 351 33,743 SH   SOLE   33,743 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 826 65,974 SH   SOLE   65,974 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 506 37,307 SH   SOLE   37,307 0 0
TERRENO RLTY CORP COM 88146M101 6,226 113,712 SH   SOLE   113,712 0 0
HUDSON PAC PPTYS INC COM 444097109 979 44,652 SH   SOLE   44,652 0 0
CORESITE RLTY CORP COM 21870Q105 1,424 11,984 SH   SOLE   11,984 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 2,456 178,227 SH   SOLE   178,227 0 0
AMERICAN ASSETS TR INC COM 024013104 358 14,876 SH   SOLE   14,876 0 0
SUMMIT HOTEL PPTYS INC COM 866082100 158 30,564 SH   SOLE   30,564 0 0
STAG INDL INC COM 85254J102 1,350 44,309 SH   SOLE   44,309 0 0
RLJ LODGING TR COM 74965L101 420 48,523 SH   SOLE   48,523 0 0
PROLOGIS INC. COM 74340W103 48,417 481,188 SH   SOLE   481,188 0 0
CUBESMART COM 229663109 1,855 57,436 SH   SOLE   57,436 0 0
AMERICAN TOWER CORP NEW COM 03027X100 63,304 261,881 SH   SOLE   261,881 0 0
RETAIL PPTYS AMER INC CL A 76131V202 368 63,396 SH   SOLE   63,396 0 0
AMERICOLD RLTY TR COM 03064D108 6,133 171,575 SH   SOLE   171,575 0 0
ALEXANDER & BALDWIN INC NEW COM 014491104 238 21,307 SH   SOLE   21,307 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 548 14,916 SH   SOLE   14,916 0 0
WP CAREY INC COM 92936U109 4,540 69,680 SH   SOLE   69,680 0 0
EPR PPTYS COM SH BEN INT 26884U109 603 21,944 SH   SOLE   21,944 0 0
CYRUSONE INC COM 23283R100 4,726 67,494 SH   SOLE   67,494 0 0
REXFORD INDL RLTY INC COM 76169C100 13,688 299,126 SH   SOLE   299,126 0 0
PHYSICIANS RLTY TR COM 71943U104 1,102 61,538 SH   SOLE   61,538 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 8,224 288,780 SH   SOLE   288,780 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 324 28,014 SH   SOLE   28,014 0 0
EMPIRE ST RLTY TR INC CL A 292104106 266 43,479 SH   SOLE   43,479 0 0
QTS RLTY TR INC COM CL A 74736A103 2,278 36,153 SH   SOLE   36,153 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 369 33,852 SH   SOLE   33,852 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 7,288 197,372 SH   SOLE   197,372 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 1,671 142,974 SH   SOLE   142,974 0 0
CARETRUST REIT INC COM 14174T107 502 28,242 SH   SOLE   28,242 0 0
GEO GROUP INC NEW COM 36162J106 394 34,822 SH   SOLE   34,822 0 0
KITE RLTY GROUP TR COM NEW 49803T300 284 24,550 SH   SOLE   24,550 0 0
NEW SR INVT GROUP INC COM 648691103 96 24,224 SH   SOLE   24,224 0 0
STORE CAP CORP COM 862121100 3,721 135,689 SH   SOLE   135,689 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 2,888 43,653 SH   SOLE   43,653 0 0
PARAMOUNT GROUP INC COM 69924R108 398 56,251 SH   SOLE   56,251 0 0
OUTFRONT MEDIA INC COM 69007J106 1,135 78,036 SH   SOLE   78,036 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 36,854 221,349 SH   SOLE   221,349 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 2,800 107,725 SH   SOLE   107,725 0 0
URBAN EDGE PPTYS COM 91704F104 333 34,307 SH   SOLE   34,307 0 0
IRON MTN INC NEW COM 46284V101 2,278 85,040 SH   SOLE   85,040 0 0
EQUINIX INC COM 29444U700 42,805 56,313 SH   SOLE   56,313 0 0
XENIA HOTELS & RESORTS INC COM 984017103 294 33,491 SH   SOLE   33,491 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 528 23,594 SH   SOLE   23,594 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 598 18,309 SH   SOLE   18,309 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 598 62,320 SH   SOLE   62,320 0 0
VEREIT INC COM 92339V100 2,086 321,061 SH   SOLE   321,061 0 0
WELLTOWER INC COM 95040Q104 15,897 288,574 SH   SOLE   288,574 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 532 20,802 SH   SOLE   20,802 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 2,193 78,400 SH   SOLE   78,400 0 0
LIFE STORAGE INC COM 53223X107 1,459 13,865 SH   SOLE   13,865 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 35 54,997 SH   SOLE   54,997 0 0
AMERICAN FIN TR INC COM CLASS A 02607T109 202 32,275 SH   SOLE   32,275 0 0
GDS HLDGS LTD SPONSORED ADS 36165L108 4,811 58,800 SH   SOLE   58,800 0 0
CORECIVIC INC COM 21871N101 282 35,356 SH   SOLE   35,356 0 0
PARK HOTELS RESORTS INC COM 700517105 2,457 245,999 SH   SOLE   245,999 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 1,143 13,400 SH   SOLE   13,400 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 21,947 68,913 SH   SOLE   68,913 0 0
INVITATION HOMES INC COM 46187W107 15,406 550,440 SH   SOLE   550,440 0 0
GLOBAL NET LEASE INC COM NEW 379378201 423 26,651 SH   SOLE   26,651 0 0
UNITI GROUP INC COM 91325V108 1,180 112,027 SH   SOLE   112,027 0 0
JBG SMITH PPTYS COM 46590V100 968 36,211 SH   SOLE   36,211 0 0
VICI PPTYS INC COM 925652109 9,291 397,575 SH   SOLE   397,575 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 419 19,191 SH   SOLE   19,191 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 740 40,399 SH   SOLE   40,399 0 0
COLONY CAP INC NEW CL A COM 19626G108 391 143,518 SH   SOLE   143,518 0 0
SITE CTRS CORP COM 82981J109 1,115 154,971 SH   SOLE   154,971 0 0
RPT REALTY SH BEN INT 74971D101 129 23,850 SH   SOLE   23,850 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 1,693 50,179 SH   SOLE   50,179 0 0
APARTMENT INVT & MGMT CO CL A 03748R754 1,484 44,017 SH   SOLE   44,017 0 0
COUSINS PPTYS INC COM NEW 222795502 1,258 44,005 SH   SOLE   44,005 0 0
SERVICE PPTYS TR COM SH BEN INT 81761L102 385 48,468 SH   SOLE   48,468 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 11,044 406,778 SH   SOLE   406,778 0 0
DIVERSIFIED HEALTHCARE TR COM SH BEN INT 25525P107 246 70,104 SH   SOLE   70,104 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 517 50,095 SH   SOLE   50,095 0 0
LEXINGTON REALTY TRUST COM 529043101 842 80,643 SH   SOLE   80,643 0 0
COMMUNITY HEALTHCARE TR INC COM 20369C106 291 6,229 SH   SOLE   6,229 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 55 10,062 SH   SOLE   10,062 0 0
GLOBAL MED REIT INC COM NEW 37954A204 163 12,135 SH   SOLE   12,135 0 0
FRONT YD RESIDENTIAL CORP COM 35904G107 129 14,805 SH   SOLE   14,805 0 0
COREPOINT LODGING INC COM 21872L104 63 11,604 SH   SOLE   11,604 0 0
BROOKFIELD PPTY REIT INC CL A 11282X103 166 13,576 SH   SOLE   13,576 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730509 247 3,791 SH   SOLE   3,791 0 0
OFFICE PPTYS INCOME TR COM SHS BEN INT 67623C109 292 14,139 SH   SOLE   14,139 0 0
SAFEHOLD INC COM 78645L100 317 5,111 SH   SOLE   5,111 0 0
UMH PPTYS INC COM 903002103 146 10,834 SH   SOLE   10,834 0 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 216 3,794 SH   SOLE   3,794 0 0
GETTY RLTY CORP NEW COM 374297109 259 9,977 SH   SOLE   9,977 0 0
CHATHAM LODGING TR COM 16208T102 104 13,700 SH   SOLE   13,700 0 0
WHITESTONE REIT COM 966084204 70 11,775 SH   SOLE   11,775 0 0
PREFERRED APT CMNTYS INC COM 74039L103 75 14,060 SH   SOLE   14,060 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 153 16,581 SH   SOLE   16,581 0 0
CATCHMARK TIMBER TR INC CL A 14912Y202 128 14,406 SH   SOLE   14,406 0 0
CITY OFFICE REIT INC COM 178587101 104 13,872 SH   SOLE   13,872 0 0
NEXPOINT RESIDENTIAL TR INC COM 65341D102 284 6,412 SH   SOLE   6,412 0 0