Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WELL	WELLTOWER INC	5,769,173	$727M	13.1%	$126.03 *	$68.96	+86.6%	COM	95040Q104
EQIX	EQUINIX INC	639,232	$603M	10.8%	$942.89 *	$663.22	+35.3%	COM	29444U700
DLR	DIGITAL RLTY TR INC	3,279,985	$582M	10.5%	$177.33 *	$119.94	+42.7%	COM	253868103
VTR	VENTAS INC	7,138,261	$420M	7.6%	$58.89 *	$45.80	+32.4%	COM	92276F100
FRT	FEDERAL RLTY INVT TR NEW	3,523,155	$394M	7.1%	$111.95 *	$98.49	+8.6%	SH BEN INT NEW	313745101
KIM	KIMCO RLTY CORP	16,578,826	$388M	7.0%	$23.43 *	$19.85	+15.5%	COM	49446R109
EQR	EQUITY RESIDENTIAL	4,891,189	$351M	6.3%	$71.76 *	$57.66	+21.1%	SH BEN INT	29476L107
PLD	PROLOGIS INC.	2,503,328	$265M	4.8%	$105.70 *	$72.23	+52.5%	COM	74340W103
SPG	SIMON PPTY GROUP INC NEW	1,234,490	$213M	3.8%	$172.21 *	$165.60	0.0%	COM	828806109
KRC	KILROY RLTY CORP	4,487,655	$182M	3.3%	$40.45	$38.89	—	COM	49427F108
INVH	INVITATION HOMES INC	5,182,986	$166M	3.0%	$31.97	$27.34	+16.5%	COM	46187W107
ESS	ESSEX PPTY TR INC	517,032	$148M	2.7%	$285.44	$210.84	+33.9%	COM	297178105
CUZ	COUSINS PPTYS INC	4,409,089	$135M	2.4%	$30.64	$30.64	—	COM NEW	222795502
ELS	EQUITY LIFESTYLE PPTYS INC	2,026,935	$135M	2.4%	$66.60	$67.23	—	COM	29472R108
CUBE	CUBESMART	3,008,124	$129M	2.3%	$42.85	$45.21	—	COM	229663109
DOC	HEALTHPEAK PROPERTIES INC	6,057,961	$123M	2.2%	$20.27	$20.16	0.0%	COM	42250P103
HST	HOST HOTELS & RESORTS INC	5,345,395	$93.65M	1.7%	$17.52 *	$14.42	+15.5%	COM	44107P104
SUI	SUN CMNTYS INC	752,482	$92.53M	1.7%	$122.97	$119.49	—	COM	866674104
TRNO	TERRENO RLTY CORP	1,417,985	$83.86M	1.5%	$59.14	$60.35	—	COM	88146M101
UE	URBAN EDGE PPTYS	2,897,436	$62.29M	1.1%	$21.50	$13.21	—	COM	91704F104
REXR	REXFORD INDL RLTY INC	1,345,700	$52.02M	0.9%	$38.66	$38.66	—	COM	76169C100
ADC	AGREE RLTY CORP	714,815	$50.36M	0.9%	$70.45	$73.36	—	COM	008492100
BXP	BXP INC	606,352	$45.09M	0.8%	$74.36 *	$59.23	+28.8%	COM	101121101
EXR	EXTRA SPACE STORAGE INC	251,200	$37.58M	0.7%	$149.60 *	$155.36	0.0%	COM	30225T102
EPRT	ESSENTIAL PPTYS RLTY TR INC	752,605	$23.54M	0.4%	$31.28	$26.66	—	COM	29670E107
TXNM	TXNM ENERGY INC	124,333	$6.113M	0.1%	$49.17 *	$40.96	+12.7%	COM	69349H107
DUK	DUKE ENERGY CORP NEW	55,740	$6.005M	0.1%	$107.74	$100.45	+8.3%	COM NEW	26441C204
KMI	KINDER MORGAN INC DEL	215,271	$5.898M	0.1%	$27.40 *	$20.37	+22.1%	COM	49456B101
SO	SOUTHERN CO	58,652	$4.828M	0.1%	$82.32 *	$78.91	+7.1%	COM	842587107
PEG	PUBLIC SVC ENTERPRISE GRP IN	54,304	$4.588M	0.1%	$84.49	$67.57	+26.2%	COM	744573106
ETR	ENTERGY CORP NEW	52,959	$4.015M	0.1%	$75.82 *	$66.45	+5.3%	COM	29364G103
CSX	CSX CORP	119,645	$3.861M	0.1%	$32.27 *	$33.20	+1.4%	COM	126408103
UNP	UNION PAC CORP	14,280	$3.256M	0.1%	$228.04	$221.71	+3.8%	COM	907818108
WMB	WILLIAMS COS INC	52,817	$2.858M	0.1%	$54.12 *	$51.72	0.0%	COM	969457100
CEG	CONSTELLATION ENERGY CORP	11,698	$2.617M	0.0%	$223.71 *	$179.14	+38.3%	COM	21037T109
AEE	AMEREN CORP	28,393	$2.531M	0.0%	$89.14 *	$77.04	+12.3%	COM	023608102
CCI	CROWN CASTLE INC	24,958	$2.265M	0.0%	$90.76 *	$98.29	-0.2%	COM	22822V101
PCG	PG&E CORP	112,170	$2.264M	0.0%	$20.18	$16.94	+19.0%	COM	69331C108
NEE	NEXTERA ENERGY INC	30,793	$2.208M	0.0%	$71.69 *	$69.35	+8.2%	COM	65339F101
WTRG	ESSENTIAL UTILS INC	51,557	$1.873M	0.0%	$36.32 *	$38.81	0.0%	COM	29670G102
TRGP	TARGA RES CORP	10,293	$1.837M	0.0%	$178.50	$81.76	+114.2%	COM	87612G101
SRE	SEMPRA	12,971	$1.138M	0.0%	$87.72 *	$84.33	0.0%	COM	816851109
SBAC	SBA COMMUNICATIONS CORP NEW	3,507	$715K	0.0%	$203.80 *	$215.06	+2.4%	CL A	78410G104