Pensionfund PDN Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JPM	JPMORGAN CHASE and CO	67,500	$10,276	1.4%	$127.25	0.0%	COMMON STOCK	46625H100
BRK/B	BERKSHIRE HATHAWAY INC-CL B	34,000	$8,686	1.2%	$242.84	0.0%	COMMON STOCK	084670702
PG	PROCTER and GAMBLE CO/THE	59,000	$7,990	1.1%	$115.68	0.0%	COMMON STOCK	742718109
CMCSA	COMCAST CORP-CLASS A	125,000	$6,764	0.9%	$46.15	0.0%	COMMON STOCK	20030N101
AMAT	APPLIED MATERIALS INC	42,000	$5,611	0.7%	$105.71	0.0%	COMMON STOCK	038222105
ORCL	ORACLE CORP	75,000	$5,263	0.7%	$60.61	0.0%	COMMON STOCK	68389X105
PM	PHILIP MORRIS INTERNATIONAL	57,000	$5,058	0.7%	$66.81	0.0%	COMMON STOCK	718172109
MO	ALTRIA GROUP INC	91,000	$4,656	0.6%	$30.41	0.0%	COMMON STOCK	02209S103
—	VEREIT INC	109,696	$4,236	0.6%	$38.62	—	COMMON STOCK	92339V308
ICE	INTERCONTINENTAL EXCHANGE IN	33,000	$3,685	0.5%	$106.46	0.0%	COMMON STOCK	45866F104
MCO	MOODY'S CORP	12,200	$3,643	0.5%	$270.35	0.0%	COMMON STOCK	615369105
TROW	T ROWE PRICE GROUP INC	20,800	$3,569	0.5%	$131.89	0.0%	COMMON STOCK	74144T108
BDX	BECTON DICKINSON AND CO	14,500	$3,526	0.5%	$225.62	0.0%	COMMON STOCK	075887109
CMI	CUMMINS INC	13,500	$3,498	0.5%	$221.90	0.0%	COMMON STOCK	231021106
JBHT	HUNT (JB) TRANSPRT SVCS INC	20,500	$3,445	0.5%	$143.89	0.0%	COMMON STOCK	445658107
AOS	SMITH (A.O.) CORP	50,000	$3,381	0.5%	$55.77	0.0%	COMMON STOCK	831865209
ED	CONSOLIDATED EDISON INC	43,000	$3,216	0.4%	$59.14	0.0%	COMMON STOCK	209115104
KDP	Keurig Dr Pepper Inc	91,000	$3,128	0.4%	$28.61	0.0%	COMMON STOCK	49271V100
WAT	WATERS CORP	11,000	$3,126	0.4%	$273.06	0.0%	COMMON STOCK	941848103
EA	ELECTRONIC ARTS INC	23,000	$3,114	0.4%	$134.93	0.0%	COMMON STOCK	285512109
ATO	ATMOS ENERGY CORP	31,000	$3,064	0.4%	$80.51	0.0%	COMMON STOCK	049560105
NVR	NVR INC	650	$3,062	0.4%	$4487.67	0.0%	COMMON STOCK	62944T105
RPM	RPM INTERNATIONAL INC	33,000	$3,031	0.4%	$86.45	0.0%	COMMON STOCK	749685103
BAH	BOOZ ALLEN HAMILTON HOLDINGS	33,000	$2,657	0.4%	$76.36	0.0%	COMMON STOCK	099502106
—	APARTMENT INCOME REIT CO-W/I	54,422	$2,327	0.3%	$42.76	—	COMMON STOCK	03750L109
IRT	INDEPENDENCE REALTY TRUST IN	118,000	$1,794	0.2%	$15.20	—	COMMON STOCK	45378A106
PLYM	PLYMOUTH INDUSTRIAL REIT INC	91,000	$1,533	0.2%	$16.85	—	COMMON STOCK	729640102
—	SL GREEN REALTY CORP	19,639	$1,375	0.2%	$70.01	—	COMMON STOCK	78440X804
O	REALTY INCOME CORP	20,000	$1,270	0.2%	$46.24	0.0%	COMMON STOCK	756109104
VICI	VICI PROPERTIES INC	14,000	$395	0.1%	$20.94	0.0%	COMMON STOCK	925652109
—	GLOBAL MEDICAL REIT INC	30,000	$393	0.1%	$13.10	—	COMMON STOCK	37954A204
AIV	APARTMENT INVT and MGMT CO -A	55,222	$339	0.0%	$6.14	—	COMMON STOCK	03748R747

Increased Positions (111)

PSA PUBLIC STORAGE 1.4%

Value ($000) $10,830 (+122.2%) Shares 43,889 (+100.5%) Est. Cost $146.01 Unrealized +28.9%

MSFT MICROSOFT CORP 2.6%

Value ($000) $19,787 (+22.6%) Shares 83,925 (+9.4%) Est. Cost $49.78 Unrealized +347.7%

PLD PROLOGIS INC 2.1%

Value ($000) $15,890 (+26.4%) Shares 149,904 (+20.0%) Est. Cost $50.66 Unrealized +75.0%

AAPL APPLE INC 3.3%

Value ($000) $24,418 (+14.0%) Shares 199,900 (+8.1%) Est. Cost $88.58 Unrealized +41.2%

DLR DIGITAL REALTY TRUST INC 1.0%

Value ($000) $7,707 (+52.9%) Shares 54,719 (+59.3%) Est. Cost $71.81 Unrealized +62.2%

DOC HCP INC 0.7%

Value ($000) $5,097 (+94.4%) Shares 160,593 (+66.3%) Est. Cost $24.67 Unrealized -4.9%

INVH INVITATION HOMES INC 0.8%

Value ($000) $6,008 (+66.7%) Shares 187,810 (+45.8%) Est. Cost $22.49 Unrealized +14.7%

EQIX EQUINIX INC 0.9%

Value ($000) $7,043 (+45.8%) Shares 10,364 (+63.1%) Est. Cost $568.28 Unrealized +9.9%

WELL WELLTOWER INC 0.8%

Value ($000) $6,071 (+47.0%) Shares 84,753 (+13.1%) Est. Cost $50.42 Unrealized +17.1%

CSCO CISCO SYSTEMS INC 0.9%

Value ($000) $6,541 (+41.3%) Shares 126,500 (+7.7%) Est. Cost $36.51 Unrealized +11.3%

— QTS REALTY TRUST INC-CL A 0.3%

Value ($000) $2,301 (+386.5%) Shares 37,086 (+394.5%) Est. Cost $58.50 Unrealized —

WPC WP CAREY INC 0.5%

Value ($000) $3,913 (+83.1%) Shares 55,300 (+68.6%) Est. Cost $70.32 Unrealized —

AVB AVALONBAY COMMUNITIES INC 0.9%

Value ($000) $6,369 (+38.4%) Shares 34,520 (+12.0%) Est. Cost $108.94 Unrealized +35.7%

HST HOST HOTELS and RESORTS INC 0.4%

Value ($000) $3,353 (+108.5%) Shares 198,998 (+33.6%) Est. Cost $11.43 Unrealized +13.0%

RGA REINSURANCE GROUP OF AMERICA 0.4%

Value ($000) $3,151 (+120.7%) Shares 25,000 (+66.7%) Est. Cost $133.92 Unrealized -11.2%

MPT MEDICAL PROPERTIES TRUST INC 0.6%

Value ($000) $4,405 (+59.1%) Shares 207,000 (+31.8%) Est. Cost $16.46 Unrealized —

SNA SNAP-ON INC 0.5%

Value ($000) $3,576 (+80.1%) Shares 15,500 (+14.8%) Est. Cost $130.72 Unrealized +32.9%

ELV ANTHEM INC 0.6%

Value ($000) $4,639 (+51.2%) Shares 12,925 (+13.1%) Est. Cost $266.49 Unrealized +12.9%

ADP AUTOMATIC DATA PROCESSING 0.6%

Value ($000) $4,391 (+55.0%) Shares 23,300 (+14.8%) Est. Cost $114.07 Unrealized +37.3%

— Life Storage Inc 0.4%

Value ($000) $3,167 (+94.1%) Shares 36,850 (+137.7%) Est. Cost $88.48 Unrealized —

OHI OMEGA HEALTHCARE INVESTORS 0.5%

Value ($000) $3,993 (+58.8%) Shares 109,000 (+29.8%) Est. Cost $35.61 Unrealized —

BRX BRIXMOR PROPERTY GROUP INC 0.4%

Value ($000) $2,650 (+124.4%) Shares 131,000 (+29.7%) Est. Cost $24.39 Unrealized —

MAA MID-AMERICA APARTMENT COMM 0.6%

Value ($000) $4,770 (+41.7%) Shares 33,040 (+13.8%) Est. Cost $71.91 Unrealized +60.2%

CDW CDW CORP/DE 0.5%

Value ($000) $3,746 (+59.9%) Shares 22,600 (+15.3%) Est. Cost $87.33 Unrealized +61.2%

ESS ESSEX PROPERTY TRUST INC 0.6%

Value ($000) $4,661 (+40.7%) Shares 17,145 (+3.9%) Est. Cost $168.05 Unrealized +29.5%

CPT CAMDEN PROPERTY TRUST 0.5%

Value ($000) $3,812 (+54.7%) Shares 34,686 (+25.3%) Est. Cost $56.92 Unrealized +54.5%

STAG STAG INDUSTRIAL INC 0.5%

Value ($000) $3,592 (+58.4%) Shares 106,880 (+43.7%) Est. Cost $25.02 Unrealized —

MMM 3M CO 0.6%

Value ($000) $4,759 (+36.9%) Shares 24,700 (+13.8%) Est. Cost $82.42 Unrealized +51.8%

IBM INTL BUSINESS MACHINES CORP 0.6%

Value ($000) $4,837 (+35.7%) Shares 36,300 (+23.9%) Est. Cost $101.05 Unrealized -2.9%

ABBV ABBVIE INC 0.8%

Value ($000) $5,801 (+27.1%) Shares 53,600 (+2.9%) Est. Cost $60.21 Unrealized +47.7%

— SPIRIT REALTY CAPITAL INC 0.5%

Value ($000) $3,383 (+57.6%) Shares 79,600 (+25.2%) Est. Cost $36.14 Unrealized —

CUZ COUSINS PROPERTIES INC 0.5%

Value ($000) $3,463 (+55.4%) Shares 97,977 (+25.6%) Est. Cost $36.00 Unrealized —

RHI ROBERT HALF INTL INC 0.4%

Value ($000) $3,256 (+61.0%) Shares 41,700 (+9.2%) Est. Cost $56.60 Unrealized +28.1%

AMH AMERICAN HOMES 4 RENT- A 0.5%

Value ($000) $3,767 (+48.6%) Shares 113,000 (+27.0%) Est. Cost $24.97 Unrealized —

IRM IRON MOUNTAIN INC 0.5%

Value ($000) $3,534 (+50.8%) Shares 95,500 (+9.1%) Est. Cost $23.05 Unrealized +18.1%

MCK MCKESSON CORP 0.5%

Value ($000) $3,413 (+52.8%) Shares 17,500 (+16.7%) Est. Cost $144.70 Unrealized +22.6%

AVY AVERY DENNISON CORP 0.5%

Value ($000) $3,453 (+51.7%) Shares 18,800 (+5.6%) Est. Cost $66.69 Unrealized +135.8%

SBRA SABRA HEALTH CARE REIT INC 0.4%

Value ($000) $2,825 (+67.0%) Shares 162,730 (+32.6%) Est. Cost $20.88 Unrealized —

SEIC SEI INVESTMENTS COMPANY 0.4%

Value ($000) $3,034 (+58.3%) Shares 49,800 (+31.7%) Est. Cost $48.19 Unrealized +13.8%

AGNC AGNC INVESTMENT CORP 0.4%

Value ($000) $2,891 (+63.0%) Shares 172,500 (+35.3%) Est. Cost $18.11 Unrealized —

CUBE CUBESMART 0.4%

Value ($000) $3,007 (+56.5%) Shares 79,500 (+33.6%) Est. Cost $31.02 Unrealized —

NHI NATL HEALTH INVESTORS INC 0.4%

Value ($000) $2,841 (+60.9%) Shares 39,300 (+34.1%) Est. Cost $70.14 Unrealized —

GL GLOBE LIFE INC 0.4%

Value ($000) $2,918 (+57.4%) Shares 30,200 (+30.2%) Est. Cost $94.08 Unrealized -2.2%

BDN BRANDYWINE REALTY TRUST 0.4%

Value ($000) $2,729 (+63.5%) Shares 211,400 (+31.0%) Est. Cost $13.35 Unrealized —

— ANNALY CAPITAL MANAGEMENT IN 0.4%

Value ($000) $2,838 (+59.4%) Shares 330,000 (+32.0%) Est. Cost $9.00 Unrealized —

— LEXINGTON REALTY TRUST 0.4%

Value ($000) $2,989 (+53.8%) Shares 269,000 (+44.6%) Est. Cost $10.19 Unrealized —

EXC EXELON CORP 0.4%

Value ($000) $3,368 (+44.9%) Shares 77,000 (+18.5%) Est. Cost $26.46 Unrealized -4.6%

MSI MOTOROLA SOLUTIONS INC 0.5%

Value ($000) $3,423 (+43.6%) Shares 18,200 (+19.7%) Est. Cost $110.58 Unrealized +52.0%

— KELLOGG CO 0.4%

Value ($000) $3,038 (+51.7%) Shares 48,000 (+54.8%) Est. Cost $48.59 Unrealized -3.2%

WU WESTERN UNION CO 0.4%

Value ($000) $2,910 (+54.3%) Shares 118,000 (+34.1%) Est. Cost $21.10 Unrealized —

MAN MANPOWERGROUP INC 0.4%

Value ($000) $2,769 (+57.3%) Shares 28,000 (+16.7%) Est. Cost $91.76 Unrealized +4.3%

— HEALTHCARE TRUST OF AME-CL A 0.5%

Value ($000) $3,530 (+38.5%) Shares 128,000 (+30.6%) Est. Cost $25.91 Unrealized —

ALL ALLSTATE CORP 0.4%

Value ($000) $3,275 (+42.0%) Shares 28,500 (+16.3%) Est. Cost $61.78 Unrealized +58.1%

AZO AUTOZONE INC 0.5%

Value ($000) $3,792 (+34.2%) Shares 2,700 (+12.5%) Est. Cost $773.84 Unrealized +60.0%

KR KROGER CO 0.4%

Value ($000) $3,239 (+40.5%) Shares 90,000 (+32.4%) Est. Cost $29.27 Unrealized +5.2%

WM WASTE MANAGEMENT INC 0.5%

Value ($000) $3,832 (+31.8%) Shares 29,700 (+15.6%) Est. Cost $77.46 Unrealized +39.6%

T ATandT INC 0.8%

Value ($000) $6,054 (+18.0%) Shares 200,000 (+11.1%) Est. Cost $18.59 Unrealized -13.2%

ARE ALEXANDRIA REAL ESTATE EQUIT 0.5%

Value ($000) $3,401 (+35.4%) Shares 20,700 (+31.8%) Est. Cost $66.91 Unrealized +102.7%

ILPT INDUSTRIAL LOGISTICS PROPERT 0.5%

Value ($000) $3,826 (+30.1%) Shares 165,415 (+23.1%) Est. Cost $21.29 Unrealized —

PAYX PAYCHEX INC 0.5%

Value ($000) $3,426 (+34.4%) Shares 34,950 (+9.4%) Est. Cost $38.07 Unrealized +111.1%

V VISA INC-CLASS A SHARES 1.1%

Value ($000) $8,554 (+11.4%) Shares 40,400 (+5.2%) Est. Cost $77.39 Unrealized +162.5%

DHC Diversified Healthcare Trust 0.3%

Value ($000) $1,908 (+81.2%) Shares 399,100 (+33.4%) Est. Cost $4.02 Unrealized —

PNW PINNACLE WEST CAPITAL 0.4%

Value ($000) $2,929 (+40.3%) Shares 36,000 (+28.6%) Est. Cost $67.84 Unrealized -8.0%

HSIC HENRY SCHEIN INC 0.4%

Value ($000) $2,839 (+42.0%) Shares 41,000 (+20.6%) Est. Cost $57.89 Unrealized +16.9%

— HUDSON PACIFIC PROPERTIES IN 0.3%

Value ($000) $2,075 (+67.5%) Shares 76,500 (+35.4%) Est. Cost $31.73 Unrealized —

GLPI GAMING AND LEISURE PROPERTIE 0.2%

Value ($000) $1,289 (+178.4%) Shares 30,372 (+142.2%) Est. Cost $37.97 Unrealized —

GNL GLOBAL NET LEASE INC 0.3%

Value ($000) $2,492 (+49.3%) Shares 137,976 (+31.4%) Est. Cost $18.46 Unrealized —

HIW HIGHWOODS PROPERTIES INC 0.3%

Value ($000) $2,138 (+60.0%) Shares 49,802 (+25.1%) Est. Cost $37.64 Unrealized —

PPG PPG INDUSTRIES INC 0.5%

Value ($000) $3,486 (+28.6%) Shares 23,200 (+4.5%) Est. Cost $92.74 Unrealized +40.3%

— CORESITE REALTY CORP 0.3%

Value ($000) $2,086 (+58.0%) Shares 17,408 (+56.8%) Est. Cost $119.25 Unrealized —

— HEALTHCARE REALTY TRUST INC 0.2%

Value ($000) $1,447 (+111.5%) Shares 47,719 (+110.0%) Est. Cost $29.67 Unrealized —

BXP BOSTON PROPERTIES INC 0.3%

Value ($000) $1,966 (+58.8%) Shares 19,417 (+25.9%) Est. Cost $66.40 Unrealized +14.0%

BAX BAXTER INTERNATIONAL INC 0.5%

Value ($000) $3,458 (+26.5%) Shares 41,000 (+20.6%) Est. Cost $68.99 Unrealized +3.6%

— CYRUSONE INC 0.5%

Value ($000) $3,501 (+25.9%) Shares 51,700 (+30.2%) Est. Cost $54.57 Unrealized —

— COLUMBIA PROPERTY TRUST INC 0.2%

Value ($000) $1,385 (+108.0%) Shares 81,000 (+32.8%) Est. Cost $20.95 Unrealized —

PPL PPL CORP 0.4%

Value ($000) $2,884 (+32.5%) Shares 100,000 (+25.0%) Est. Cost $24.96 Unrealized -7.1%

ORLY O'REILLY AUTOMOTIVE INC 0.5%

Value ($000) $3,652 (+23.8%) Shares 7,200 (+12.5%) Est. Cost $18.48 Unrealized +67.7%

RLJ RLJ LODGING TRUST 0.2%

Value ($000) $1,180 (+142.3%) Shares 76,200 (+35.6%) Est. Cost $21.21 Unrealized —

YUM YUM! BRANDS INC 0.4%

Value ($000) $3,202 (+27.1%) Shares 29,600 (+7.2%) Est. Cost $66.89 Unrealized +44.5%

MRSH MARSH and MCLENNAN COS 0.5%

Value ($000) $3,800 (+21.8%) Shares 31,200 (+14.7%) Est. Cost $55.48 Unrealized +92.9%

— DUKE REALTY CORP 0.3%

Value ($000) $2,454 (+37.0%) Shares 58,524 (+20.6%) Est. Cost $25.05 Unrealized —

PEG PUBLIC SERVICE ENTERPRISE GP 0.4%

Value ($000) $3,131 (+26.7%) Shares 52,000 (+15.6%) Est. Cost $49.11 Unrealized -0.4%

— PREFERRED APARTMENT COMMUN-A 0.2%

Value ($000) $1,295 (+99.8%) Shares 131,437 (+9.5%) Est. Cost $12.31 Unrealized —

HSY HERSHEY CO/THE 0.4%

Value ($000) $3,211 (+22.4%) Shares 20,300 (+10.9%) Est. Cost $79.24 Unrealized +69.2%

— SERVICE PROPERTIES TRUST 0.1%

Value ($000) $1,013 (+129.7%) Shares 85,434 (+54.1%) Est. Cost $21.95 Unrealized —

— STORE CAPITAL CORP 0.4%

Value ($000) $2,881 (+23.5%) Shares 86,000 (+1.2%) Est. Cost $30.04 Unrealized —

MDLZ MONDELEZ INTERNATIONAL INC-A 0.5%

Value ($000) $4,097 (+15.0%) Shares 70,000 (+12.9%) Est. Cost $45.15 Unrealized +10.3%

PEP PEPSICO INC 0.8%

Value ($000) $5,870 (+10.0%) Shares 41,500 (+7.8%) Est. Cost $84.33 Unrealized +39.8%

— PHYSICIANS REALTY TRUST 0.3%

Value ($000) $2,262 (+28.9%) Shares 128,000 (+30.6%) Est. Cost $16.37 Unrealized —

KRG KITE REALTY GROUP TRUST 0.1%

Value ($000) $945 (+109.1%) Shares 49,000 (+25.6%) Est. Cost $23.49 Unrealized —

— NEW SENIOR INVESTMENT GROUP 0.1%

Value ($000) $748 (+187.7%) Shares 120,056 (+84.5%) Est. Cost $7.80 Unrealized —

D DOMINION ENERGY INC 0.5%

Value ($000) $3,752 (+14.8%) Shares 49,400 (+19.3%) Est. Cost $48.32 Unrealized +21.0%

OPITQ OFFICE PROPERTIES INCOME TRUST 0.1%

Value ($000) $1,093 (+77.4%) Shares 39,708 (+33.7%) Est. Cost $27.61 Unrealized —

INN SUMMIT HOTEL PROPERTIES INC 0.1%

Value ($000) $701 (+176.0%) Shares 69,000 (+40.8%) Est. Cost $12.94 Unrealized —

APLE APPLE HOSPITALITY REIT INC 0.1%

Value ($000) $729 (+153.1%) Shares 50,000 (+66.7%) Est. Cost $14.39 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.7%

Value ($000) $4,924 (+8.9%) Shares 78,000 (+4.0%) Est. Cost $45.25 Unrealized +12.8%

CDP CORPORATE OFFICE PROPERTIES 0.2%

Value ($000) $1,185 (+42.8%) Shares 45,000 (+28.6%) Est. Cost $25.95 Unrealized —

MCD MCDONALD'S CORP 0.7%

Value ($000) $5,379 (+6.6%) Shares 24,000 (+4.3%) Est. Cost $152.08 Unrealized +25.8%

— HERSHA HOSPITALITY TRUST 0.1%

Value ($000) $422 (+280.2%) Shares 40,000 (+100.0%) Est. Cost $16.00 Unrealized —

CLDT CHATHAM LODGING TRUST 0.1%

Value ($000) $474 (+139.4%) Shares 36,000 (+38.5%) Est. Cost $17.48 Unrealized —

— CERNER CORP 0.4%

Value ($000) $2,731 (+11.1%) Shares 38,000 (+11.8%) Est. Cost $73.14 Unrealized —

CL COLGATE-PALMOLIVE CO 0.5%

Value ($000) $3,744 (+7.8%) Shares 47,500 (+5.6%) Est. Cost $59.68 Unrealized +17.2%

VZ VERIZON COMMUNICATIONS INC 0.9%

Value ($000) $6,571 (+4.2%) Shares 113,000 (+6.6%) Est. Cost $38.88 Unrealized +8.7%

CPB CAMPBELL SOUP CO 0.4%

Value ($000) $2,966 (+9.5%) Shares 59,000 (+5.4%) Est. Cost $41.20 Unrealized -1.9%

PFE PFIZER INC 0.8%

Value ($000) $5,790 (+4.6%) Shares 159,800 (+6.0%) Est. Cost $21.68 Unrealized +29.3%

SPGI SandP GLOBAL INC 0.6%

Value ($000) $4,305 (+5.6%) Shares 12,200 (+8.0%) Est. Cost $112.81 Unrealized +183.3%

KMB KIMBERLY-CLARK CORP 0.5%

Value ($000) $3,476 (+7.0%) Shares 25,000 (+13.6%) Est. Cost $97.98 Unrealized +13.1%

BIIB BIOGEN INC 0.4%

Value ($000) $3,357 (+5.7%) Shares 12,000 (+7.1%) Est. Cost $233.05 Unrealized +15.7%

GIS GENERAL MILLS INC 0.5%

Value ($000) $3,434 (+5.0%) Shares 56,000 (+5.7%) Est. Cost $43.13 Unrealized +13.5%

CHD CHURCH and DWIGHT CO INC 0.4%

Value ($000) $3,145 (+1.7%) Shares 36,000 (+9.1%) Est. Cost $67.11 Unrealized +17.4%

MRK MERCK and CO. INC. 0.8%

Value ($000) $5,705 (-0.3%) Shares 74,000 (+7.2%) Est. Cost $62.20 Unrealized +1.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PSA	PUBLIC STORAGE	43,889 (+100.5%)	$10,830 (+122.2%)	1.4%	$146.01	+28.9%	COMMON STOCK	74460D109
MSFT	MICROSOFT CORP	83,925 (+9.4%)	$19,787 (+22.6%)	2.6%	$49.78	+347.7%	COMMON STOCK	594918104
PLD	PROLOGIS INC	149,904 (+20.0%)	$15,890 (+26.4%)	2.1%	$50.66	+75.0%	COMMON STOCK	74340W103
AAPL	APPLE INC	199,900 (+8.1%)	$24,418 (+14.0%)	3.3%	$88.58	+41.2%	COMMON STOCK	037833100
DLR	DIGITAL REALTY TRUST INC	54,719 (+59.3%)	$7,707 (+52.9%)	1.0%	$71.81	+62.2%	COMMON STOCK	253868103
DOC	HCP INC	160,593 (+66.3%)	$5,097 (+94.4%)	0.7%	$24.67	-4.9%	COMMON STOCK	42250P103
INVH	INVITATION HOMES INC	187,810 (+45.8%)	$6,008 (+66.7%)	0.8%	$22.49	+14.7%	COMMON STOCK	46187W107
EQIX	EQUINIX INC	10,364 (+63.1%)	$7,043 (+45.8%)	0.9%	$568.28	+9.9%	COMMON STOCK	29444U700
WELL	WELLTOWER INC	84,753 (+13.1%)	$6,071 (+47.0%)	0.8%	$50.42	+17.1%	COMMON STOCK	95040Q104
CSCO	CISCO SYSTEMS INC	126,500 (+7.7%)	$6,541 (+41.3%)	0.9%	$36.51	+11.3%	COMMON STOCK	17275R102
—	QTS REALTY TRUST INC-CL A	37,086 (+394.5%)	$2,301 (+386.5%)	0.3%	$58.50	—	COMMON STOCK	74736A103
WPC	WP CAREY INC	55,300 (+68.6%)	$3,913 (+83.1%)	0.5%	$70.32	—	COMMON STOCK	92936U109
AVB	AVALONBAY COMMUNITIES INC	34,520 (+12.0%)	$6,369 (+38.4%)	0.9%	$108.94	+35.7%	COMMON STOCK	053484101
HST	HOST HOTELS and RESORTS INC	198,998 (+33.6%)	$3,353 (+108.5%)	0.4%	$11.43	+13.0%	COMMON STOCK	44107P104
RGA	REINSURANCE GROUP OF AMERICA	25,000 (+66.7%)	$3,151 (+120.7%)	0.4%	$133.92	-11.2%	COMMON STOCK	759351604
MPT	MEDICAL PROPERTIES TRUST INC	207,000 (+31.8%)	$4,405 (+59.1%)	0.6%	$16.46	—	COMMON STOCK	58463J304
SNA	SNAP-ON INC	15,500 (+14.8%)	$3,576 (+80.1%)	0.5%	$130.72	+32.9%	COMMON STOCK	833034101
ELV	ANTHEM INC	12,925 (+13.1%)	$4,639 (+51.2%)	0.6%	$266.49	+12.9%	COMMON STOCK	036752103
ADP	AUTOMATIC DATA PROCESSING	23,300 (+14.8%)	$4,391 (+55.0%)	0.6%	$114.07	+37.3%	COMMON STOCK	053015103
—	Life Storage Inc	36,850 (+137.7%)	$3,167 (+94.1%)	0.4%	$88.48	—	COMMON STOCK	53223X107
OHI	OMEGA HEALTHCARE INVESTORS	109,000 (+29.8%)	$3,993 (+58.8%)	0.5%	$35.61	—	COMMON STOCK	681936100
BRX	BRIXMOR PROPERTY GROUP INC	131,000 (+29.7%)	$2,650 (+124.4%)	0.4%	$24.39	—	COMMON STOCK	11120U105
MAA	MID-AMERICA APARTMENT COMM	33,040 (+13.8%)	$4,770 (+41.7%)	0.6%	$71.91	+60.2%	COMMON STOCK	59522J103
CDW	CDW CORP/DE	22,600 (+15.3%)	$3,746 (+59.9%)	0.5%	$87.33	+61.2%	COMMON STOCK	12514G108
ESS	ESSEX PROPERTY TRUST INC	17,145 (+3.9%)	$4,661 (+40.7%)	0.6%	$168.05	+29.5%	COMMON STOCK	297178105
CPT	CAMDEN PROPERTY TRUST	34,686 (+25.3%)	$3,812 (+54.7%)	0.5%	$56.92	+54.5%	COMMON STOCK	133131102
STAG	STAG INDUSTRIAL INC	106,880 (+43.7%)	$3,592 (+58.4%)	0.5%	$25.02	—	COMMON STOCK	85254J102
MMM	3M CO	24,700 (+13.8%)	$4,759 (+36.9%)	0.6%	$82.42	+51.8%	COMMON STOCK	88579Y101
IBM	INTL BUSINESS MACHINES CORP	36,300 (+23.9%)	$4,837 (+35.7%)	0.6%	$101.05	-2.9%	COMMON STOCK	459200101
ABBV	ABBVIE INC	53,600 (+2.9%)	$5,801 (+27.1%)	0.8%	$60.21	+47.7%	COMMON STOCK	00287Y109
—	SPIRIT REALTY CAPITAL INC	79,600 (+25.2%)	$3,383 (+57.6%)	0.5%	$36.14	—	COMMON STOCK	84860W300
CUZ	COUSINS PROPERTIES INC	97,977 (+25.6%)	$3,463 (+55.4%)	0.5%	$36.00	—	COMMON STOCK	222795502
RHI	ROBERT HALF INTL INC	41,700 (+9.2%)	$3,256 (+61.0%)	0.4%	$56.60	+28.1%	COMMON STOCK	770323103
AMH	AMERICAN HOMES 4 RENT- A	113,000 (+27.0%)	$3,767 (+48.6%)	0.5%	$24.97	—	COMMON STOCK	02665T306
IRM	IRON MOUNTAIN INC	95,500 (+9.1%)	$3,534 (+50.8%)	0.5%	$23.05	+18.1%	COMMON STOCK	46284V101
MCK	MCKESSON CORP	17,500 (+16.7%)	$3,413 (+52.8%)	0.5%	$144.70	+22.6%	COMMON STOCK	58155Q103
AVY	AVERY DENNISON CORP	18,800 (+5.6%)	$3,453 (+51.7%)	0.5%	$66.69	+135.8%	COMMON STOCK	053611109
SBRA	SABRA HEALTH CARE REIT INC	162,730 (+32.6%)	$2,825 (+67.0%)	0.4%	$20.88	—	COMMON STOCK	78573L106
SEIC	SEI INVESTMENTS COMPANY	49,800 (+31.7%)	$3,034 (+58.3%)	0.4%	$48.19	+13.8%	COMMON STOCK	784117103
AGNC	AGNC INVESTMENT CORP	172,500 (+35.3%)	$2,891 (+63.0%)	0.4%	$18.11	—	COMMON STOCK	00123Q104
CUBE	CUBESMART	79,500 (+33.6%)	$3,007 (+56.5%)	0.4%	$31.02	—	COMMON STOCK	229663109
NHI	NATL HEALTH INVESTORS INC	39,300 (+34.1%)	$2,841 (+60.9%)	0.4%	$70.14	—	COMMON STOCK	63633D104
GL	GLOBE LIFE INC	30,200 (+30.2%)	$2,918 (+57.4%)	0.4%	$94.08	-2.2%	COMMON STOCK	37959E102
BDN	BRANDYWINE REALTY TRUST	211,400 (+31.0%)	$2,729 (+63.5%)	0.4%	$13.35	—	COMMON STOCK	105368203
—	ANNALY CAPITAL MANAGEMENT IN	330,000 (+32.0%)	$2,838 (+59.4%)	0.4%	$9.00	—	COMMON STOCK	035710409
—	LEXINGTON REALTY TRUST	269,000 (+44.6%)	$2,989 (+53.8%)	0.4%	$10.19	—	COMMON STOCK	529043101
EXC	EXELON CORP	77,000 (+18.5%)	$3,368 (+44.9%)	0.4%	$26.46	-4.6%	COMMON STOCK	30161N101
MSI	MOTOROLA SOLUTIONS INC	18,200 (+19.7%)	$3,423 (+43.6%)	0.5%	$110.58	+52.0%	COMMON STOCK	620076307
—	KELLOGG CO	48,000 (+54.8%)	$3,038 (+51.7%)	0.4%	$48.59	-3.2%	COMMON STOCK	487836108
WU	WESTERN UNION CO	118,000 (+34.1%)	$2,910 (+54.3%)	0.4%	$21.10	—	COMMON STOCK	959802109
MAN	MANPOWERGROUP INC	28,000 (+16.7%)	$2,769 (+57.3%)	0.4%	$91.76	+4.3%	COMMON STOCK	56418H100
—	HEALTHCARE TRUST OF AME-CL A	128,000 (+30.6%)	$3,530 (+38.5%)	0.5%	$25.91	—	COMMON STOCK	42225P501
ALL	ALLSTATE CORP	28,500 (+16.3%)	$3,275 (+42.0%)	0.4%	$61.78	+58.1%	COMMON STOCK	020002101
AZO	AUTOZONE INC	2,700 (+12.5%)	$3,792 (+34.2%)	0.5%	$773.84	+60.0%	COMMON STOCK	053332102
KR	KROGER CO	90,000 (+32.4%)	$3,239 (+40.5%)	0.4%	$29.27	+5.2%	COMMON STOCK	501044101
WM	WASTE MANAGEMENT INC	29,700 (+15.6%)	$3,832 (+31.8%)	0.5%	$77.46	+39.6%	COMMON STOCK	94106L109
T	ATandT INC	200,000 (+11.1%)	$6,054 (+18.0%)	0.8%	$18.59	-13.2%	COMMON STOCK	00206R102
ARE	ALEXANDRIA REAL ESTATE EQUIT	20,700 (+31.8%)	$3,401 (+35.4%)	0.5%	$66.91	+102.7%	COMMON STOCK	015271109
ILPT	INDUSTRIAL LOGISTICS PROPERT	165,415 (+23.1%)	$3,826 (+30.1%)	0.5%	$21.29	—	COMMON STOCK	456237106
PAYX	PAYCHEX INC	34,950 (+9.4%)	$3,426 (+34.4%)	0.5%	$38.07	+111.1%	COMMON STOCK	704326107
V	VISA INC-CLASS A SHARES	40,400 (+5.2%)	$8,554 (+11.4%)	1.1%	$77.39	+162.5%	COMMON STOCK	92826C839
DHC	Diversified Healthcare Trust	399,100 (+33.4%)	$1,908 (+81.2%)	0.3%	$4.02	—	COMMON STOCK	25525P107
PNW	PINNACLE WEST CAPITAL	36,000 (+28.6%)	$2,929 (+40.3%)	0.4%	$67.84	-8.0%	COMMON STOCK	723484101
HSIC	HENRY SCHEIN INC	41,000 (+20.6%)	$2,839 (+42.0%)	0.4%	$57.89	+16.9%	COMMON STOCK	806407102
—	HUDSON PACIFIC PROPERTIES IN	76,500 (+35.4%)	$2,075 (+67.5%)	0.3%	$31.73	—	COMMON STOCK	444097109
GLPI	GAMING AND LEISURE PROPERTIE	30,372 (+142.2%)	$1,289 (+178.4%)	0.2%	$37.97	—	COMMON STOCK	36467J108
GNL	GLOBAL NET LEASE INC	137,976 (+31.4%)	$2,492 (+49.3%)	0.3%	$18.46	—	COMMON STOCK	379378201
HIW	HIGHWOODS PROPERTIES INC	49,802 (+25.1%)	$2,138 (+60.0%)	0.3%	$37.64	—	COMMON STOCK	431284108
PPG	PPG INDUSTRIES INC	23,200 (+4.5%)	$3,486 (+28.6%)	0.5%	$92.74	+40.3%	COMMON STOCK	693506107
—	CORESITE REALTY CORP	17,408 (+56.8%)	$2,086 (+58.0%)	0.3%	$119.25	—	COMMON STOCK	21870Q105
—	HEALTHCARE REALTY TRUST INC	47,719 (+110.0%)	$1,447 (+111.5%)	0.2%	$29.67	—	COMMON STOCK	421946104
BXP	BOSTON PROPERTIES INC	19,417 (+25.9%)	$1,966 (+58.8%)	0.3%	$66.40	+14.0%	COMMON STOCK	101121101
BAX	BAXTER INTERNATIONAL INC	41,000 (+20.6%)	$3,458 (+26.5%)	0.5%	$68.99	+3.6%	COMMON STOCK	071813109
—	CYRUSONE INC	51,700 (+30.2%)	$3,501 (+25.9%)	0.5%	$54.57	—	COMMON STOCK	23283R100
—	COLUMBIA PROPERTY TRUST INC	81,000 (+32.8%)	$1,385 (+108.0%)	0.2%	$20.95	—	COMMON STOCK	198287203
PPL	PPL CORP	100,000 (+25.0%)	$2,884 (+32.5%)	0.4%	$24.96	-7.1%	COMMON STOCK	69351T106
ORLY	O'REILLY AUTOMOTIVE INC	7,200 (+12.5%)	$3,652 (+23.8%)	0.5%	$18.48	+67.7%	COMMON STOCK	67103H107
RLJ	RLJ LODGING TRUST	76,200 (+35.6%)	$1,180 (+142.3%)	0.2%	$21.21	—	COMMON STOCK	74965L101
YUM	YUM! BRANDS INC	29,600 (+7.2%)	$3,202 (+27.1%)	0.4%	$66.89	+44.5%	COMMON STOCK	988498101
MRSH	MARSH and MCLENNAN COS	31,200 (+14.7%)	$3,800 (+21.8%)	0.5%	$55.48	+92.9%	COMMON STOCK	571748102
—	DUKE REALTY CORP	58,524 (+20.6%)	$2,454 (+37.0%)	0.3%	$25.05	—	COMMON STOCK	264411505
PEG	PUBLIC SERVICE ENTERPRISE GP	52,000 (+15.6%)	$3,131 (+26.7%)	0.4%	$49.11	-0.4%	COMMON STOCK	744573106
—	PREFERRED APARTMENT COMMUN-A	131,437 (+9.5%)	$1,295 (+99.8%)	0.2%	$12.31	—	COMMON STOCK	74039L103
HSY	HERSHEY CO/THE	20,300 (+10.9%)	$3,211 (+22.4%)	0.4%	$79.24	+69.2%	COMMON STOCK	427866108
—	SERVICE PROPERTIES TRUST	85,434 (+54.1%)	$1,013 (+129.7%)	0.1%	$21.95	—	COMMON STOCK	44106M102
—	STORE CAPITAL CORP	86,000 (+1.2%)	$2,881 (+23.5%)	0.4%	$30.04	—	COMMON STOCK	862121100
MDLZ	MONDELEZ INTERNATIONAL INC-A	70,000 (+12.9%)	$4,097 (+15.0%)	0.5%	$45.15	+10.3%	COMMON STOCK	609207105
PEP	PEPSICO INC	41,500 (+7.8%)	$5,870 (+10.0%)	0.8%	$84.33	+39.8%	COMMON STOCK	713448108
—	PHYSICIANS REALTY TRUST	128,000 (+30.6%)	$2,262 (+28.9%)	0.3%	$16.37	—	COMMON STOCK	71943U104
KRG	KITE REALTY GROUP TRUST	49,000 (+25.6%)	$945 (+109.1%)	0.1%	$23.49	—	COMMON STOCK	49803T300
—	NEW SENIOR INVESTMENT GROUP	120,056 (+84.5%)	$748 (+187.7%)	0.1%	$7.80	—	COMMON STOCK	648691103
D	DOMINION ENERGY INC	49,400 (+19.3%)	$3,752 (+14.8%)	0.5%	$48.32	+21.0%	COMMON STOCK	25746U109
OPITQ	OFFICE PROPERTIES INCOME TRUST	39,708 (+33.7%)	$1,093 (+77.4%)	0.1%	$27.61	—	COMMON STOCK	67623C109
INN	SUMMIT HOTEL PROPERTIES INC	69,000 (+40.8%)	$701 (+176.0%)	0.1%	$12.94	—	COMMON STOCK	866082100
APLE	APPLE HOSPITALITY REIT INC	50,000 (+66.7%)	$729 (+153.1%)	0.1%	$14.39	—	COMMON STOCK	03784Y200
BMY	BRISTOL-MYERS SQUIBB CO	78,000 (+4.0%)	$4,924 (+8.9%)	0.7%	$45.25	+12.8%	COMMON STOCK	110122108
CDP	CORPORATE OFFICE PROPERTIES	45,000 (+28.6%)	$1,185 (+42.8%)	0.2%	$25.95	—	COMMON STOCK	22002T108
MCD	MCDONALD'S CORP	24,000 (+4.3%)	$5,379 (+6.6%)	0.7%	$152.08	+25.8%	COMMON STOCK	580135101
—	HERSHA HOSPITALITY TRUST	40,000 (+100.0%)	$422 (+280.2%)	0.1%	$16.00	—	COMMON STOCK	427825500
CLDT	CHATHAM LODGING TRUST	36,000 (+38.5%)	$474 (+139.4%)	0.1%	$17.48	—	COMMON STOCK	16208T102
—	CERNER CORP	38,000 (+11.8%)	$2,731 (+11.1%)	0.4%	$73.14	—	COMMON STOCK	156782104
CL	COLGATE-PALMOLIVE CO	47,500 (+5.6%)	$3,744 (+7.8%)	0.5%	$59.68	+17.2%	COMMON STOCK	194162103
VZ	VERIZON COMMUNICATIONS INC	113,000 (+6.6%)	$6,571 (+4.2%)	0.9%	$38.88	+8.7%	COMMON STOCK	92343V104
CPB	CAMPBELL SOUP CO	59,000 (+5.4%)	$2,966 (+9.5%)	0.4%	$41.20	-1.9%	COMMON STOCK	134429109
PFE	PFIZER INC	159,800 (+6.0%)	$5,790 (+4.6%)	0.8%	$21.68	+29.3%	COMMON STOCK	717081103
SPGI	SandP GLOBAL INC	12,200 (+8.0%)	$4,305 (+5.6%)	0.6%	$112.81	+183.3%	COMMON STOCK	78409V104
KMB	KIMBERLY-CLARK CORP	25,000 (+13.6%)	$3,476 (+7.0%)	0.5%	$97.98	+13.1%	COMMON STOCK	494368103
BIIB	BIOGEN INC	12,000 (+7.1%)	$3,357 (+5.7%)	0.4%	$233.05	+15.7%	COMMON STOCK	09062X103
GIS	GENERAL MILLS INC	56,000 (+5.7%)	$3,434 (+5.0%)	0.5%	$43.13	+13.5%	COMMON STOCK	370334104
CHD	CHURCH and DWIGHT CO INC	36,000 (+9.1%)	$3,145 (+1.7%)	0.4%	$67.11	+17.4%	COMMON STOCK	171340102
MRK	MERCK and CO. INC.	74,000 (+7.2%)	$5,705 (-0.3%)	0.8%	$62.20	+1.4%	COMMON STOCK	58933Y105

Exited Positions (28)

MA MASTERCARD INC - A 1.0%

Value ($000) $7,271 Shares 21,500 Est. Cost $89.14 Unrealized +281.0%

— VEREIT INC 0.6%

Value ($000) $4,150 Shares 638,484 Est. Cost $8.81 Unrealized —

SYK STRYKER CORP 0.5%

Value ($000) $3,480 Shares 16,700 Est. Cost $154.78 Unrealized +47.2%

XOM EXXON MOBIL CORP 0.5%

Value ($000) $3,474 Shares 101,200 Est. Cost $55.94 Unrealized -22.6%

— BOOKING HOLDINGS INC 0.4%

Value ($000) $3,250 Shares 1,900 Est. Cost $1984.21 Unrealized —

TJX TJX COMPANIES INC 0.4%

Value ($000) $3,094 Shares 55,600 Est. Cost $37.64 Unrealized +65.5%

FISV FISERV INC 0.4%

Value ($000) $2,885 Shares 28,000 Est. Cost $110.41 Unrealized +3.9%

EMR EMERSON ELECTRIC CO 0.4%

Value ($000) $2,636 Shares 40,200 Est. Cost $49.23 Unrealized +58.1%

BR BROADRIDGE FINANCIAL SOLUTIO 0.3%

Value ($000) $2,495 Shares 18,900 Est. Cost $67.28 Unrealized +102.1%

CE CELANESE CORP-SERIES A 0.3%

Value ($000) $2,471 Shares 23,000 Est. Cost $91.40 Unrealized +38.2%

ROST ROSS STORES INC 0.3%

Value ($000) $2,408 Shares 25,800 Est. Cost $38.23 Unrealized +193.5%

DGX QUEST DIAGNOSTICS INC 0.3%

Value ($000) $2,404 Shares 21,000 Est. Cost $92.18 Unrealized +21.6%

USB US BANCORP 0.3%

Value ($000) $2,373 Shares 66,200 Est. Cost $39.05 Unrealized +3.3%

SYY SYSCO CORP 0.3%

Value ($000) $2,321 Shares 37,300 Est. Cost $55.45 Unrealized +22.8%

TRV TRAVELERS COS INC/THE 0.3%

Value ($000) $2,207 Shares 20,400 Est. Cost $91.51 Unrealized +45.5%

— SL GREEN REALTY CORP 0.3%

Value ($000) $2,138 Shares 46,123 Est. Cost $90.12 Unrealized —

DRI DARDEN RESTAURANTS INC 0.3%

Value ($000) $2,085 Shares 20,700 Est. Cost $88.06 Unrealized +28.0%

AFL AFLAC INC 0.3%

Value ($000) $2,068 Shares 56,900 Est. Cost $27.96 Unrealized +53.4%

— APARTMENT INVT and MGMT CO -A 0.3%

Value ($000) $1,872 Shares 55,525 Est. Cost $48.71 Unrealized —

CNP CENTERPOINT ENERGY INC 0.2%

Value ($000) $1,819 Shares 94,000 Est. Cost $24.41 Unrealized -23.0%

— ALLEGHANY CORP 0.2%

Value ($000) $1,717 Shares 3,300 Est. Cost $623.33 Unrealized —

L LOEWS CORP 0.2%

Value ($000) $1,661 Shares 47,800 Est. Cost $45.06 Unrealized +6.2%

HIG HARTFORD FINANCIAL SVCS GRP 0.2%

Value ($000) $1,622 Shares 44,000 Est. Cost $45.59 Unrealized +7.2%

FE FIRSTENERGY CORP 0.2%

Value ($000) $1,608 Shares 56,000 Est. Cost $30.02 Unrealized -10.8%

AFG AMERICAN FINANCIAL GROUP INC 0.2%

Value ($000) $1,474 Shares 22,000 Est. Cost $51.58 Unrealized +18.9%

OMC OMNICOM GROUP 0.2%

Value ($000) $1,386 Shares 28,000 Est. Cost $57.22 Unrealized +1.6%

REG REGENCY CENTERS CORP 0.2%

Value ($000) $1,312 Shares 34,500 Est. Cost $47.18 Unrealized -9.5%

— PEOPLE'S UNITED FINANCIAL 0.2%

Value ($000) $1,278 Shares 124,000 Est. Cost $17.12 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MA	MASTERCARD INC - A	21,500	$7,271	1.0%	$89.14	+281.0%	—	57636Q104
—	VEREIT INC	638,484	$4,150	0.6%	$8.81	—	—	92339V100
SYK	STRYKER CORP	16,700	$3,480	0.5%	$154.78	+47.2%	—	863667101
XOM	EXXON MOBIL CORP	101,200	$3,474	0.5%	$55.94	-22.6%	—	30231G102
—	BOOKING HOLDINGS INC	1,900	$3,250	0.4%	$1984.21	—	—	741503403
TJX	TJX COMPANIES INC	55,600	$3,094	0.4%	$37.64	+65.5%	—	872540109
FISV	FISERV INC	28,000	$2,885	0.4%	$110.41	+3.9%	—	337738108
EMR	EMERSON ELECTRIC CO	40,200	$2,636	0.4%	$49.23	+58.1%	—	291011104
BR	BROADRIDGE FINANCIAL SOLUTIO	18,900	$2,495	0.3%	$67.28	+102.1%	—	11133T103
CE	CELANESE CORP-SERIES A	23,000	$2,471	0.3%	$91.40	+38.2%	—	150870103
ROST	ROSS STORES INC	25,800	$2,408	0.3%	$38.23	+193.5%	—	778296103
DGX	QUEST DIAGNOSTICS INC	21,000	$2,404	0.3%	$92.18	+21.6%	—	74834L100
USB	US BANCORP	66,200	$2,373	0.3%	$39.05	+3.3%	—	902973304
SYY	SYSCO CORP	37,300	$2,321	0.3%	$55.45	+22.8%	—	871829107
TRV	TRAVELERS COS INC/THE	20,400	$2,207	0.3%	$91.51	+45.5%	—	89417E109
—	SL GREEN REALTY CORP	46,123	$2,138	0.3%	$90.12	—	—	78440X101
DRI	DARDEN RESTAURANTS INC	20,700	$2,085	0.3%	$88.06	+28.0%	—	237194105
AFL	AFLAC INC	56,900	$2,068	0.3%	$27.96	+53.4%	—	001055102
—	APARTMENT INVT and MGMT CO -A	55,525	$1,872	0.3%	$48.71	—	—	03748R754
CNP	CENTERPOINT ENERGY INC	94,000	$1,819	0.2%	$24.41	-23.0%	—	15189T107
—	ALLEGHANY CORP	3,300	$1,717	0.2%	$623.33	—	—	017175100
L	LOEWS CORP	47,800	$1,661	0.2%	$45.06	+6.2%	—	540424108
HIG	HARTFORD FINANCIAL SVCS GRP	44,000	$1,622	0.2%	$45.59	+7.2%	—	416515104
FE	FIRSTENERGY CORP	56,000	$1,608	0.2%	$30.02	-10.8%	—	337932107
AFG	AMERICAN FINANCIAL GROUP INC	22,000	$1,474	0.2%	$51.58	+18.9%	—	025932104
OMC	OMNICOM GROUP	28,000	$1,386	0.2%	$57.22	+1.6%	—	681919106
REG	REGENCY CENTERS CORP	34,500	$1,312	0.2%	$47.18	-9.5%	—	758849103
—	PEOPLE'S UNITED FINANCIAL	124,000	$1,278	0.2%	$17.12	—	—	712704105

Decreased Positions (19)

SPG SIMON PROPERTY GROUP INC 1.0%

Value ($000) $7,521 (+56.3%) Shares 66,108 (-11.2%) Est. Cost $96.12 Unrealized -16.8%

— LAM RESEARCH CORP 0.7%

Value ($000) $5,060 (+52.5%) Shares 8,500 (-15.0%) Est. Cost $292.42 Unrealized —

META FACEBOOK INC-A 1.9%

Value ($000) $14,285 (+11.3%) Shares 48,500 (-1.0%) Est. Cost $192.35 Unrealized +39.0%

UNH UNITEDHEALTH GROUP INC 1.2%

Value ($000) $8,669 (+14.4%) Shares 23,300 (-4.1%) Est. Cost $233.60 Unrealized +36.8%

VNO VORNADO REALTY TRUST 0.2%

Value ($000) $1,260 (-42.7%) Shares 27,765 (-57.5%) Est. Cost $72.24 Unrealized —

TXN TEXAS INSTRUMENTS INC 0.8%

Value ($000) $5,670 (+15.4%) Shares 30,000 (-12.8%) Est. Cost $40.51 Unrealized +273.6%

— AMERICAN CAMPUS COMMUNITIES 0.2%

Value ($000) $1,640 (-28.9%) Shares 38,000 (-42.4%) Est. Cost $38.00 Unrealized —

TGT TARGET CORP 0.7%

Value ($000) $4,952 (+13.6%) Shares 25,000 (-9.7%) Est. Cost $67.73 Unrealized +141.0%

IDXX IDEXX LABORATORIES INC 0.6%

Value ($000) $4,159 (+11.4%) Shares 8,500 (-10.5%) Est. Cost $263.51 Unrealized +90.1%

— MONMOUTH REAL ESTATE INV COR 0.3%

Value ($000) $2,165 (+17.5%) Shares 122,361 (-8.0%) Est. Cost $14.48 Unrealized —

— Colony Capital Inc 0.1%

Value ($000) $823 (+61.4%) Shares 126,932 (-32.1%) Est. Cost $6.75 Unrealized —

TSCO TRACTOR SUPPLY COMPANY 0.5%

Value ($000) $3,807 (+7.1%) Shares 21,500 (-13.3%) Est. Cost $12.36 Unrealized +138.2%

UMH UMH PROPERTIES INC 0.2%

Value ($000) $1,474 (+14.7%) Shares 76,900 (-19.0%) Est. Cost $14.48 Unrealized —

ESRT EMPIRE STATE REALTY TRUST-A 0.1%

Value ($000) $601 (+38.2%) Shares 54,000 (-23.9%) Est. Cost $16.12 Unrealized —

MTD METTLER-TOLEDO INTERNATIONAL 0.4%

Value ($000) $3,120 (+4.2%) Shares 2,700 (-12.9%) Est. Cost $316.01 Unrealized +266.7%

MNST MONSTER BEVERAGE CORP 0.5%

Value ($000) $3,434 (+3.2%) Shares 37,700 (-9.2%) Est. Cost $30.05 Unrealized +49.1%

SKT TANGER FACTORY OUTLET CENTER 0.1%

Value ($000) $575 (+22.3%) Shares 38,000 (-51.3%) Est. Cost $32.33 Unrealized —

IIPR INNOVATIVE INDUSTRIAL PROPER 0.1%

Value ($000) $667 (+14.4%) Shares 3,700 (-21.3%) Est. Cost $84.43 Unrealized —

VTR VENTAS INC 0.7%

Value ($000) $5,017 (-0.1%) Shares 94,060 (-21.4%) Est. Cost $45.99 Unrealized -6.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPG	SIMON PROPERTY GROUP INC	66,108 (-11.2%)	$7,521 (+56.3%)	1.0%	$96.12	-16.8%	COMMON STOCK	828806109
—	LAM RESEARCH CORP	8,500 (-15.0%)	$5,060 (+52.5%)	0.7%	$292.42	—	COMMON STOCK	512807108
META	FACEBOOK INC-A	48,500 (-1.0%)	$14,285 (+11.3%)	1.9%	$192.35	+39.0%	COMMON STOCK	30303M102
UNH	UNITEDHEALTH GROUP INC	23,300 (-4.1%)	$8,669 (+14.4%)	1.2%	$233.60	+36.8%	COMMON STOCK	91324P102
VNO	VORNADO REALTY TRUST	27,765 (-57.5%)	$1,260 (-42.7%)	0.2%	$72.24	—	COMMON STOCK	929042109
TXN	TEXAS INSTRUMENTS INC	30,000 (-12.8%)	$5,670 (+15.4%)	0.8%	$40.51	+273.6%	COMMON STOCK	882508104
—	AMERICAN CAMPUS COMMUNITIES	38,000 (-42.4%)	$1,640 (-28.9%)	0.2%	$38.00	—	COMMON STOCK	024835100
TGT	TARGET CORP	25,000 (-9.7%)	$4,952 (+13.6%)	0.7%	$67.73	+141.0%	COMMON STOCK	87612E106
IDXX	IDEXX LABORATORIES INC	8,500 (-10.5%)	$4,159 (+11.4%)	0.6%	$263.51	+90.1%	COMMON STOCK	45168D104
—	MONMOUTH REAL ESTATE INV COR	122,361 (-8.0%)	$2,165 (+17.5%)	0.3%	$14.48	—	COMMON STOCK	609720107
—	Colony Capital Inc	126,932 (-32.1%)	$823 (+61.4%)	0.1%	$6.75	—	COMMON STOCK	19625W104
TSCO	TRACTOR SUPPLY COMPANY	21,500 (-13.3%)	$3,807 (+7.1%)	0.5%	$12.36	+138.2%	COMMON STOCK	892356106
UMH	UMH PROPERTIES INC	76,900 (-19.0%)	$1,474 (+14.7%)	0.2%	$14.48	—	COMMON STOCK	903002103
ESRT	EMPIRE STATE REALTY TRUST-A	54,000 (-23.9%)	$601 (+38.2%)	0.1%	$16.12	—	COMMON STOCK	292104106
MTD	METTLER-TOLEDO INTERNATIONAL	2,700 (-12.9%)	$3,120 (+4.2%)	0.4%	$316.01	+266.7%	COMMON STOCK	592688105
MNST	MONSTER BEVERAGE CORP	37,700 (-9.2%)	$3,434 (+3.2%)	0.5%	$30.05	+49.1%	COMMON STOCK	61174X109
SKT	TANGER FACTORY OUTLET CENTER	38,000 (-51.3%)	$575 (+22.3%)	0.1%	$32.33	—	COMMON STOCK	875465106
IIPR	INNOVATIVE INDUSTRIAL PROPER	3,700 (-21.3%)	$667 (+14.4%)	0.1%	$84.43	—	COMMON STOCK	45781V101
VTR	VENTAS INC	94,060 (-21.4%)	$5,017 (-0.1%)	0.7%	$45.99	-6.0%	COMMON STOCK	92276F100

Unchanged Positions (38)

HPQ HP INC 0.6%

Value ($000) $4,191 Shares 132,000 Est. Cost $15.31 Unrealized +52.4%

EQR EQUITY RESIDENTIAL 0.8%

Value ($000) $5,913 Shares 82,556 Est. Cost $42.62 Unrealized +28.5%

FFIV F5 NETWORKS INC 0.4%

Value ($000) $3,275 Shares 15,700 Est. Cost $113.00 Unrealized +74.3%

AMP AMERIPRISE FINANCIAL INC 0.5%

Value ($000) $3,859 Shares 16,600 Est. Cost $107.25 Unrealized +87.3%

LLY ELI LILLY and CO 0.7%

Value ($000) $5,605 Shares 30,000 Est. Cost $108.01 Unrealized +72.3%

— BLACKROCK INC 0.6%

Value ($000) $4,599 Shares 6,100 Est. Cost $502.68 Unrealized —

SBUX STARBUCKS CORP 0.7%

Value ($000) $5,048 Shares 46,200 Est. Cost $33.68 Unrealized +179.2%

UDR UDR INC 0.5%

Value ($000) $3,623 Shares 82,605 Est. Cost $24.09 Unrealized +43.3%

LOW LOWE'S COS INC 0.8%

Value ($000) $5,781 Shares 30,400 Est. Cost $56.94 Unrealized +175.7%

HD HOME DEPOT INC 1.1%

Value ($000) $8,150 Shares 26,700 Est. Cost $62.49 Unrealized +291.2%

INTU INTUIT INC 0.6%

Value ($000) $4,491 Shares 11,725 Est. Cost $97.25 Unrealized +284.3%

EBAY EBAY INC 0.6%

Value ($000) $4,348 Shares 71,000 Est. Cost $33.63 Unrealized +58.2%

ADM ARCHER-DANIELS-MIDLAND CO 0.5%

Value ($000) $3,420 Shares 60,000 Est. Cost $32.86 Unrealized +45.9%

EXPD EXPEDITORS INTL WASH INC 0.5%

Value ($000) $3,381 Shares 31,400 Est. Cost $58.41 Unrealized +55.6%

ITW ILLINOIS TOOL WORKS 0.5%

Value ($000) $4,010 Shares 18,100 Est. Cost $68.35 Unrealized +170.6%

CTSH COGNIZANT TECH SOLUTIONS-A 0.5%

Value ($000) $3,594 Shares 46,000 Est. Cost $56.34 Unrealized +27.1%

LII LENNOX INTERNATIONAL INC 0.4%

Value ($000) $3,116 Shares 10,000 Est. Cost $184.49 Unrealized +47.9%

GWW WW GRAINGER INC 0.4%

Value ($000) $3,127 Shares 7,800 Est. Cost $239.72 Unrealized +53.0%

EPRT ESSENTIAL PROPERTIES REALTY 0.2%

Value ($000) $1,530 Shares 67,000 Est. Cost $13.75 Unrealized —

EPR EPR PROPERTIES 0.1%

Value ($000) $688 Shares 14,762 Est. Cost $50.97 Unrealized —

CLX CLOROX COMPANY 0.4%

Value ($000) $2,990 Shares 15,500 Est. Cost $125.69 Unrealized +31.3%

MAS MASCO CORP 0.4%

Value ($000) $3,067 Shares 51,200 Est. Cost $33.12 Unrealized +54.4%

PK PARK HOTELS and RESORTS INC 0.1%

Value ($000) $454 Shares 21,038 Est. Cost $25.86 Unrealized —

SHW SHERWIN-WILLIAMS CO/THE 0.5%

Value ($000) $3,801 Shares 5,150 Est. Cost $140.92 Unrealized +61.9%

ZTS ZOETIS INC 0.5%

Value ($000) $3,811 Shares 24,200 Est. Cost $74.07 Unrealized +104.8%

KW KENNEDY-WILSON HOLDINGS INC 0.1%

Value ($000) $527 Shares 26,081 Est. Cost $18.95 Unrealized -0.9%

DG DOLLAR GENERAL CORP 0.5%

Value ($000) $3,647 Shares 18,000 Est. Cost $77.43 Unrealized +138.2%

KRC KILROY REALTY CORP 0.1%

Value ($000) $591 Shares 9,000 Est. Cost $67.97 Unrealized —

MAC MACERICH CO/THE 0.0%

Value ($000) $289 Shares 24,720 Est. Cost $58.05 Unrealized —

AMGN AMGEN INC 0.7%

Value ($000) $5,026 Shares 20,200 Est. Cost $156.54 Unrealized +30.8%

PEB PEBBLEBROOK HOTEL TRUST 0.0%

Value ($000) $216 Shares 8,911 Est. Cost $28.31 Unrealized —

BBY BEST BUY CO INC 0.4%

Value ($000) $3,295 Shares 28,700 Est. Cost $40.74 Unrealized +122.3%

KIM KIMCO REALTY CORP 0.0%

Value ($000) $201 Shares 10,731 Est. Cost $12.61 Unrealized +13.2%

— BRISTOL-MYERS SQUIBB-CVR 0.0%

Value ($000) $0 Shares 33,000 Est. Cost $3.00 Unrealized —

— CITRIX SYSTEMS INC 0.4%

Value ($000) $2,948 Shares 21,000 Est. Cost $111.18 Unrealized —

HUM HUMANA INC 0.5%

Value ($000) $3,815 Shares 9,100 Est. Cost $270.84 Unrealized +40.8%

ELME WASHINGTON REIT 0.1%

Value ($000) $424 Shares 19,199 Est. Cost $30.43 Unrealized —

DEI DOUGLAS EMMETT INC 0.0%

Value ($000) $188 Shares 6,000 Est. Cost $36.89 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HPQ	HP INC	132,000	$4,191	0.6%	$15.31	+52.4%	COMMON STOCK	40434L105
EQR	EQUITY RESIDENTIAL	82,556	$5,913	0.8%	$42.62	+28.5%	COMMON STOCK	29476L107
FFIV	F5 NETWORKS INC	15,700	$3,275	0.4%	$113.00	+74.3%	COMMON STOCK	315616102
AMP	AMERIPRISE FINANCIAL INC	16,600	$3,859	0.5%	$107.25	+87.3%	COMMON STOCK	03076C106
LLY	ELI LILLY and CO	30,000	$5,605	0.7%	$108.01	+72.3%	COMMON STOCK	532457108
—	BLACKROCK INC	6,100	$4,599	0.6%	$502.68	—	COMMON STOCK	09247X101
SBUX	STARBUCKS CORP	46,200	$5,048	0.7%	$33.68	+179.2%	COMMON STOCK	855244109
UDR	UDR INC	82,605	$3,623	0.5%	$24.09	+43.3%	COMMON STOCK	902653104
LOW	LOWE'S COS INC	30,400	$5,781	0.8%	$56.94	+175.7%	COMMON STOCK	548661107
HD	HOME DEPOT INC	26,700	$8,150	1.1%	$62.49	+291.2%	COMMON STOCK	437076102
INTU	INTUIT INC	11,725	$4,491	0.6%	$97.25	+284.3%	COMMON STOCK	461202103
EBAY	EBAY INC	71,000	$4,348	0.6%	$33.63	+58.2%	COMMON STOCK	278642103
ADM	ARCHER-DANIELS-MIDLAND CO	60,000	$3,420	0.5%	$32.86	+45.9%	COMMON STOCK	039483102
EXPD	EXPEDITORS INTL WASH INC	31,400	$3,381	0.5%	$58.41	+55.6%	COMMON STOCK	302130109
ITW	ILLINOIS TOOL WORKS	18,100	$4,010	0.5%	$68.35	+170.6%	COMMON STOCK	452308109
CTSH	COGNIZANT TECH SOLUTIONS-A	46,000	$3,594	0.5%	$56.34	+27.1%	COMMON STOCK	192446102
LII	LENNOX INTERNATIONAL INC	10,000	$3,116	0.4%	$184.49	+47.9%	COMMON STOCK	526107107
GWW	WW GRAINGER INC	7,800	$3,127	0.4%	$239.72	+53.0%	COMMON STOCK	384802104
EPRT	ESSENTIAL PROPERTIES REALTY	67,000	$1,530	0.2%	$13.75	—	COMMON STOCK	29670E107
EPR	EPR PROPERTIES	14,762	$688	0.1%	$50.97	—	COMMON STOCK	26884U109
CLX	CLOROX COMPANY	15,500	$2,990	0.4%	$125.69	+31.3%	COMMON STOCK	189054109
MAS	MASCO CORP	51,200	$3,067	0.4%	$33.12	+54.4%	COMMON STOCK	574599106
PK	PARK HOTELS and RESORTS INC	21,038	$454	0.1%	$25.86	—	COMMON STOCK	700517105
SHW	SHERWIN-WILLIAMS CO/THE	5,150	$3,801	0.5%	$140.92	+61.9%	COMMON STOCK	824348106
ZTS	ZOETIS INC	24,200	$3,811	0.5%	$74.07	+104.8%	COMMON STOCK	98978V103
KW	KENNEDY-WILSON HOLDINGS INC	26,081	$527	0.1%	$18.95	-0.9%	COMMON STOCK	489398107
DG	DOLLAR GENERAL CORP	18,000	$3,647	0.5%	$77.43	+138.2%	COMMON STOCK	256677105
KRC	KILROY REALTY CORP	9,000	$591	0.1%	$67.97	—	COMMON STOCK	49427F108
MAC	MACERICH CO/THE	24,720	$289	0.0%	$58.05	—	COMMON STOCK	554382101
AMGN	AMGEN INC	20,200	$5,026	0.7%	$156.54	+30.8%	COMMON STOCK	031162100
PEB	PEBBLEBROOK HOTEL TRUST	8,911	$216	0.0%	$28.31	—	COMMON STOCK	70509V100
BBY	BEST BUY CO INC	28,700	$3,295	0.4%	$40.74	+122.3%	COMMON STOCK	086516101
KIM	KIMCO REALTY CORP	10,731	$201	0.0%	$12.61	+13.2%	COMMON STOCK	49446R109
—	BRISTOL-MYERS SQUIBB-CVR	33,000	$0	0.0%	$3.00	—	COMMON STOCK	110122157
—	CITRIX SYSTEMS INC	21,000	$2,948	0.4%	$111.18	—	COMMON STOCK	177376100
HUM	HUMANA INC	9,100	$3,815	0.5%	$270.84	+40.8%	COMMON STOCK	444859102
ELME	WASHINGTON REIT	19,199	$424	0.1%	$30.43	—	COMMON STOCK	939653101
DEI	DOUGLAS EMMETT INC	6,000	$188	0.0%	$36.89	—	COMMON STOCK	25960P109