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
Expires: July 31, 2015
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 603,428 32,200 SH SOLE 32,200 0 0
AGREE RLTY CORP COM 008492100 2,238,669 33,508 SH SOLE 33,508 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 774,737 16,324 SH SOLE 16,324 0 0
AMERICAN HEALTHCARE REIT INC COM SHS 398182303 19,279,142 376,105 SH SOLE 376,105 0 0
AMERICAN TOWER CORP COM 03027X100 14,662,204 89,573 SH SOLE 89,573 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 480,981 3,715 SH SOLE 3,715 0 0
AMERICOLD REALTY TRUST INC COM 03064D108 19,555,140 1,398,794 SH SOLE 1,398,794 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 618,928 38,300 SH SOLE 38,300 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 575,445 205,516 SH SOLE 205,516 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 16,522,878 598,655 SH SOLE 598,655 0 0
BROADSTONE NET LEASE INC COM 11135E203 13,335,355 720,830 SH SOLE 720,830 0 0
BROOKDALE SR LIVING INC COM 112463104 708,282 65,400 SH SOLE 65,400 0 0
CAMDEN PPTY TR SH BEN INT 133131102 942,053 9,739 SH SOLE 9,739 0 0
CBRE GROUP INC CL A 12504L109 8,940,741 69,594 SH SOLE 69,594 0 0
CHENIERE ENERGY INC COM NEW 16411R208 513,847 1,910 SH SOLE 1,910 0 0
CONSOLIDATED EDISON INC COM 209115104 738,569 7,226 SH SOLE 7,226 0 0
COPT DEFENSE PROPERTIES SHS BEN INT 22002T108 1,405,205 42,072 SH SOLE 42,072 0 0
COUSINS PPTYS INC COM NEW 222795502 226,372 8,190 SH SOLE 8,190 0 0
CROWN CASTLE INC COM 22822V101 1,713,038 25,702 SH SOLE 25,702 0 0
CUBESMART COM 229663109 24,719,974 657,796 SH SOLE 657,796 0 0
CURBLINE PPTYS CORP COM 23128Q101 15,211,878 546,600 SH SOLE 546,600 0 0
DIGITAL RLTY TR INC COM 253868103 39,755,965 226,491 SH SOLE 226,491 0 0
EASTGROUP PPTYS INC COM 277276101 22,745,253 115,195 SH SOLE 115,195 0 0
EDISON INTL COM 281020107 424,360 7,898 SH SOLE 7,898 0 0
ENBRIDGE INC COM 29250N105 1,132,938 24,380 SH SOLE 24,380 0 0
EPR PPTYS COM SH BEN INT 26884U109 263,923 4,702 SH SOLE 4,702 0 0
EQUINIX INC COM 29444U700 61,113,594 60,414 SH SOLE 60,414 0 0
EQUITY LIFESTYLE PROPERTIES COM 29472R108 344,147 5,900 SH SOLE 5,900 0 0
ESSENTIAL PPTYS RLTY TR INC COM 29670E107 8,433,108 326,738 SH SOLE 326,738 0 0
EVERSOURCE ENERGY COM 30040W108 694,853 10,830 SH SOLE 10,830 0 0
EXTRA SPACE STORAGE INC COM 30225T102 16,845,642 128,094 SH SOLE 128,094 0 0
FERROVIAL NV ORD SHS N3168P101 682,556 12,680 SH SOLE 12,680 0 0
FIRST INDL RLTY TR INC COM 32054K103 27,155,063 456,081 SH SOLE 456,081 0 0
FORTIS INC COM 349553107 245,603 4,651 SH SOLE 4,651 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 485,248 22,300 SH SOLE 22,300 0 0
GAMING & LEISURE P COM 36467J108 14,285,339 376,227 SH SOLE 376,227 0 0
GETTY RLTY CORP NEW COM 374297109 615,632 21,800 SH SOLE 21,800 0 0
HEALTHCARE RLTY TR CL A COM 42226K105 2,117,340 119,354 SH SOLE 119,354 0 0
HEALTHPEAK PROPERTIES INC COM 42250P103 2,678,057 134,104 SH SOLE 134,104 0 0
HIGHWOODS PPTYS INC COM 431284108 1,479,236 50,973 SH SOLE 50,973 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 8,780,112 27,600 SH SOLE 27,600 0 0
HUDSON PACIFIC PROPERTIES IN COM 444097406 191,045 16,555 SH SOLE 16,555 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 613,021 42,190 SH SOLE 42,190 0 0
INVITATION HOMES INC COM 46187W107 4,254,954 161,601 SH SOLE 161,601 0 0
ISHARES TR U.S. REAL ES ETF 464287739 1,330,560 14,000 SH SOLE 14,000 0 0
JANUS LIVING INC CL A-1 471024109 13,029,674 439,746 SH SOLE 439,746 0 0
KILROY REALTY CORP COM 49427F108 632,130 19,000 SH SOLE 19,000 0 0
KINDER MORGAN INC DEL COM 49456B101 755,981 25,074 SH SOLE 25,074 0 0
KITE REALTY GROUP TRUST COM NEW 49803T300 751,334 30,805 SH SOLE 30,805 0 0
MACERICH CO COM 554382101 735,197 32,880 SH SOLE 32,880 0 0
NATIONAL HEALTH INVS INC COM 63633D104 597,233 9,100 SH SOLE 9,100 0 0
NETSTREIT CORP COM 64119V303 13,269,512 750,538 SH SOLE 750,538 0 0
NEW ERA ENERGY & DIGITAL INC COM 64428N109 7,811,462 1,162,420 SH SOLE 1,162,420 0 0
NNN REIT INC COM 637417106 731,402 17,800 SH SOLE 17,800 0 0
PARK HOTELS & RESORTS INC COM 700517105 849,642 55,100 SH SOLE 55,100 0 0
PEMBINA PIPELINE CORP COM 706327103 438,083 9,816 SH SOLE 9,816 0 0
PIEDMONT REALTY TRUST INC COM CL A 720190206 127,065 14,277 SH SOLE 14,277 0 0
PROLOGIS INC. COM 74340W103 41,298,468 318,072 SH SOLE 318,072 0 0
PUBLIC STORAGE COM 74460D109 2,144,493 7,582 SH SOLE 7,582 0 0
REALTY INCOME CORP COM 756109104 1,648,874 30,366 SH SOLE 30,366 0 0
REGENCY CTRS CORP COM 758849103 3,444,993 47,927 SH SOLE 47,927 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 2,799,431 141,959 SH SOLE 141,959 0 0
SBA COMMUNICATIONS CORP CL A 78410G104 934,300 5,835 SH SOLE 5,835 0 0
SEMPRA COM 816851109 331,798 4,256 SH SOLE 4,256 0 0
SIMON PPTY GROUP INC NEW COM 828806109 16,018,239 79,788 SH SOLE 79,788 0 0
SL GREEN RLTY CORP COM 78440X887 10,801,242 220,794 SH SOLE 220,794 0 0
SONIDA SENIOR LIVING INC COM 140475203 12,672,765 337,221 SH SOLE 337,221 0 0
SOUTH BOW CORP COM 83671M105 254,890 7,697 SH SOLE 7,697 0 0
SUN CMNTYS INC COM 866674104 19,545,802 176,438 SH SOLE 176,438 0 0
TANGER INC COM 875465106 16,487,907 480,697 SH SOLE 480,697 0 0
TC ENERGY CORP COM 87807B107 273,476 4,725 SH SOLE 4,725 0 0
UDR INC COM 902653104 14,880,029 443,518 SH SOLE 443,518 0 0
VANGUARD INTL EQUITY INDEX F GLB EX US ETF 922042676 2,453,404 57,700 SH SOLE 57,700 0 0
VENTAS INC COM 92276F100 1,350,288 15,882 SH SOLE 15,882 0 0
VICI PPTYS INC COM 925652109 573,860 24,983 SH SOLE 24,983 0 0
VIVMARK RESIDENTIAL SH BEN INT 29476L107 32,050,171 527,488 SH SOLE 527,488 0 0
WELLTOWER INC COM 95040Q104 85,732,857 372,363 SH SOLE 372,363 0 0
WILLIAMS COS INC COM 969457100 593,174 8,727 SH SOLE 8,727 0 0
WP CAREY INC COM 92936U109 2,239,236 34,647 SH SOLE 34,647 0 0