Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
EQIX	Equinix, Inc.	73,869	$69.65M	6.5%	$942.90 *	$443.11	+102.6%	COM	29444U700
AMT	American Tower Corporation	273,711	$50.2M	4.7%	$183.41 *	$107.38	+84.7%	COM	03027X100
SPG	Simon Property Group, Inc.	254,305	$43.79M	4.1%	$172.21 *	$67.38	+145.8%	COM	828806109
WELL	Welltower Inc.	343,038	$43.23M	4.0%	$126.03 *	$64.95	+98.1%	COM	95040Q104
KRG	Kite Realty Group Trust	1,303,231	$32.89M	3.1%	$25.24	$20.76	—	COM	49803T300
EGP	EastGroup Properties, Inc.	201,498	$32.34M	3.0%	$160.49	$72.02	—	COM	277276101
TRNO	Terreno Realty Corporation	542,030	$32.06M	3.0%	$59.14	$28.14	—	COM	88146M101
PSA	Public Storage	89,550	$26.82M	2.5%	$299.44 *	$268.35	+17.7%	COM	74460D109
GLPI	Gaming and Leisure Properties, Inc.	550,333	$26.5M	2.5%	$48.16	$32.15	—	COM	36467J108
CCI	Crown Castle Inc.	275,875	$25.04M	2.3%	$90.76 *	$71.90	+36.5%	COM	22822V101
AMH	American Homes 4 Rent Class A	661,545	$24.76M	2.3%	$37.42	$36.78	—	COM	02665T306
EXR	Extra Space Storage Inc.	164,643	$24.63M	2.3%	$149.60 *	$108.16	+43.6%	COM	30225T102
PLD	Prologis, Inc.	215,169	$22.74M	2.1%	$105.70 *	$105.61	+4.3%	COM	74340W103
VICI	VICI Properties Inc	771,839	$22.55M	2.1%	$29.21	$17.29	+70.6%	COM	925652109
VTR	Ventas, Inc.	322,812	$19.01M	1.8%	$58.89 *	$49.76	+21.9%	COM	92276F100
ELS	Equity LifeStyle Properties, Inc.	275,892	$18.37M	1.7%	$66.60	$77.14	—	COM	29472R108
WY	Weyerhaeuser Company	626,702	$17.64M	1.6%	$28.15 *	$24.23	+24.1%	COM	962166104
USFR	WisdomTree Floating Rate Treasury Fund	348,728	$17.55M	1.6%	$50.32	$50.30	—	COM	97717Y527
AVB	AvalonBay Communities, Inc.	69,326	$15.25M	1.4%	$219.97	$178.02	+21.5%	COM	053484101
ESS	Essex Property Trust, Inc.	47,661	$13.6M	1.3%	$285.44	$235.55	+19.8%	COM	297178105
REG	Regency Centers Corporation	182,710	$13.51M	1.3%	$73.93 *	$56.57	+23.2%	COM	758849103
DLR	Digital Realty Trust, Inc.	73,639	$13.06M	1.2%	$177.33 *	$101.25	+69.1%	COM	253868103
FPI	Farmland Partners Inc	1,047,557	$12.32M	1.1%	$11.76	$12.03	—	COM	31154R109
CPT	Camden Property Trust	105,444	$12.24M	1.1%	$116.04	$74.02	+54.6%	COM	133131102
IDCC	InterDigital, Inc.	61,903	$11.99M	1.1%	$193.72 *	$48.77	+258.5%	COM	45867G101
BXP	BXP Inc	155,251	$11.54M	1.1%	$74.36 *	$86.46	-11.8%	COM	101121101
MTN	Vail Resorts, Inc.	61,581	$11.54M	1.1%	$187.45 *	$178.91	+0.0%	COM	91879Q109
WMB	Williams Companies, Inc.	210,825	$11.41M	1.1%	$54.12 *	$19.40	+166.6%	COM	969457100
SBAC	SBA Communications Corp. Class A	49,828	$10.16M	0.9%	$203.80 *	$294.89	-25.4%	COM	78410G104
ADC	Agree Realty Corporation	139,337	$9.816M	0.9%	$70.45	$59.97	—	COM	008492100
INVH	Invitation Homes, Inc.	297,533	$9.512M	0.9%	$31.97	$25.30	+26.0%	COM	46187W107
BLX	Banco Latinoamericano de Comercio Exterior, S.A. Class E	263,212	$9.362M	0.9%	$35.57 *	$12.89	+153.7%	COM	P16994132
MAA	Mid-America Apartment Communities, Inc.	58,498	$9.042M	0.8%	$154.57 *	$150.47	-0.6%	COM	59522J103
KMI	Kinder Morgan Inc Class P	322,854	$8.846M	0.8%	$27.40 *	$12.73	+95.4%	COM	49456B101
AIV	Apartment Investment & Management Co Class A	942,251	$8.565M	0.8%	$9.09	$8.20	—	COM	03748R747
O	Realty Income Corporation	153,116	$8.178M	0.8%	$53.41 *	$57.08	-4.5%	COM	756109104
LINC	Lincoln Educational Services Corporation	503,991	$7.973M	0.7%	$15.82 *	$6.49	+124.0%	COM	533535100
SEI	Solaris Energy Infrastructure, Inc. Class A	265,814	$7.65M	0.7%	$28.78 *	$11.44	+70.6%	COM	83418M103
LGND	Ligand Pharmaceuticals Incorporated	68,155	$7.303M	0.7%	$107.15 *	$84.51	+33.8%	COM	53220K504
HR	Healthcare Realty Trust Incorporated Class A	429,863	$7.286M	0.7%	$16.95	$18.15	—	COM	42226K105
AOSL	Alpha and Omega Semiconductor Limited	191,776	$7.101M	0.7%	$37.03	$16.10	+131.6%	COM	G6331P104
GDYN	Grid Dynamics Holdings, Inc. Class A	318,913	$7.093M	0.7%	$22.24 *	$11.97	+45.9%	COM	39813G109
FANG	Diamondback Energy, Inc.	40,690	$6.666M	0.6%	$163.83 *	$109.03	+56.8%	COM	25278X109
SUI	Sun Communities, Inc.	51,999	$6.394M	0.6%	$122.97	$135.12	—	COM	866674104
BLFS	BioLife Solutions, Inc.	245,517	$6.374M	0.6%	$25.96 *	$17.83	+39.6%	COM	09062W204
EPR	EPR Properties	142,223	$6.298M	0.6%	$44.28	$49.02	—	COM	26884U109
PSTL	Postal Realty Trust, Inc. Class A	482,512	$6.297M	0.6%	$13.05	$15.05	—	COM	73757R102
DAKT	Daktronics, Inc.	345,491	$5.825M	0.5%	$16.86 *	$9.75	+54.7%	COM	234264109
SII	Sprott Inc.	135,613	$5.719M	0.5%	$42.17 *	$36.66	+18.2%	COM	852066208
AZZ	AZZ Inc.	69,566	$5.699M	0.5%	$81.92 *	$34.18	+145.2%	COM	002474104
EQH	Equitable Holdings, Inc.	120,524	$5.685M	0.5%	$47.17 *	$26.49	+70.2%	COM	29452E101
UFPT	UFP Technologies, Inc.	23,117	$5.652M	0.5%	$244.51 *	$79.88	+264.3%	COM	902673102
GRC	Gorman-Rupp Company	145,736	$5.526M	0.5%	$37.92 *	$32.99	+21.1%	COM	383082104
CTS	CTS Corporation	103,545	$5.46M	0.5%	$52.73	$21.95	+137.5%	COM	126501105
ABBV	AbbVie, Inc.	29,265	$5.201M	0.5%	$177.70	$67.55	+162.6%	COM	00287Y109
OKE	ONEOK, Inc.	50,970	$5.117M	0.5%	$100.40 *	$66.73	+45.1%	COM	682680103
MAMA	Mama's Creations, Inc.	610,606	$4.86M	0.5%	$7.96 *	$3.82	+116.7%	COM	56146T103
UTI	Universal Technical Institute, Inc.	185,864	$4.779M	0.4%	$25.71 *	$17.14	+21.4%	COM	913915104
NSSC	NAPCO Security Technologies, Inc.	129,714	$4.613M	0.4%	$35.56 *	$18.75	+100.7%	COM	630402105
UEC	Uranium Energy Corp.	678,241	$4.537M	0.4%	$6.69 *	$4.17	+83.6%	COM	916896103
PLYM	Plymouth Industrial REIT, Inc.	254,912	$4.537M	0.4%	$17.80	$27.75	—	COM	729640102
MET	MetLife, Inc.	53,874	$4.411M	0.4%	$81.88	$58.49	+37.9%	COM	59156R108
HWKN	Hawkins, Inc.	35,852	$4.398M	0.4%	$122.67 *	$73.66	+71.3%	COM	420261109
CMBT	CMB.TECH NV	429,093	$4.261M	0.4%	$9.93 *	$7.24	+78.9%	COM	B38564108
OHI	Omega Healthcare Investors, Inc.	112,416	$4.255M	0.4%	$37.85	$28.79	—	COM	681936100
INVA	Innoviva, Inc.	242,014	$4.199M	0.4%	$17.35 *	$13.62	+41.0%	COM	45781M101
BBW	Build-A-Bear Workshop, Inc.	90,817	$4.181M	0.4%	$46.04 *	$34.30	+11.0%	COM	120076104
SRTA	Blade Air Mobility, Inc. Class A	973,736	$4.138M	0.4%	$4.25 *	$3.23	+17.9%	COM	092667104
PUMP	ProPetro Holding Corp.	436,058	$4.068M	0.4%	$9.33 *	$8.40	-2.0%	COM	74347M108
COLL	Collegium Pharmaceutical, Inc.	142,004	$4.068M	0.4%	$28.65 *	$23.49	+40.9%	COM	19459J104
—	AT&T Inc Depositary Shs Perp Pfd Shs Series C	199,208	$3.954M	0.4%	$19.85	$17.44	—	PFD	00206R706
RDVT	Red Violet, Inc.	109,209	$3.953M	0.4%	$36.20 *	$22.76	+45.1%	COM	75704L104
—	OUTFRONT Media Inc.	222,713	$3.951M	0.4%	$17.74	$17.74	—	COM	69007J106
HHH	Howard Hughes Holdings Inc.	51,316	$3.947M	0.4%	$76.92 *	$70.63	+12.7%	COM	44267T102
ARCC	Ares Capital Corporation	177,480	$3.885M	0.4%	$21.89 *	$16.97	+14.2%	COM	04010L103
NPKI	NPK International Inc.	489,764	$3.756M	0.3%	$7.67 *	$6.75	+9.0%	COM	651718504
FIHL	Fidelis Insurance Holdings Ltd.	207,075	$3.754M	0.3%	$18.13	$17.70	+3.2%	COM	G3398L118
PKE	Park Aerospace Corp.	244,636	$3.584M	0.3%	$14.65	$14.39	+0.1%	COM	70014A104
IBM	International Business Machines Corporation	16,278	$3.578M	0.3%	$219.83	$143.28	+51.0%	COM	459200101
SW	Smurfit Westrock PLC	63,574	$3.424M	0.3%	$53.86 *	$43.84	+12.7%	COM	G8267P108
DD	DuPont de Nemours, Inc.	43,609	$3.325M	0.3%	$76.25 *	$31.59	+7.1%	COM	26614N102
—	H&E Equipment Services, Inc.	67,236	$3.292M	0.3%	$48.96	$43.29	—	COM	404030108
SPOK	Spok Holdings, Inc.	203,587	$3.268M	0.3%	$16.05	$14.72	+7.6%	COM	84863T106
WULF	TeraWulf Inc.	557,375	$3.155M	0.3%	$5.66 *	$4.09	+57.6%	COM	88080T104
AHRT	Armada Hoffler Properties, Inc.	304,085	$3.111M	0.3%	$10.23	$9.04	—	COM	04208T108
COHR	Coherent Corp.	32,554	$3.084M	0.3%	$94.73 *	$60.12	+66.4%	COM	19247G107
SIGA	SIGA Technologies Inc	500,989	$3.011M	0.3%	$6.01	$5.99	+1.0%	COM	826917106
SAFE	Safehold Inc.	159,729	$2.952M	0.3%	$18.48	$19.29	—	COM	78646V107
CCOI	Cogent Communications Holdings Inc	37,781	$2.912M	0.3%	$77.07 *	$58.86	+26.0%	COM	19239V302
VLO	Valero Energy Corporation	23,445	$2.874M	0.3%	$122.59 *	$68.99	+87.2%	COM	91913Y100
NWPX	Northwest Pipe Company	59,181	$2.856M	0.3%	$48.26 *	$33.94	+47.0%	COM	667746101
—	EPR Properties Conv Pfd Shs Series C	137,232	$2.854M	0.3%	$20.80	$21.22	—	PFD	26884U208
—	Bank of America Corp Conv Pfd Registered Shs Series L	2,324	$2.835M	0.3%	$1219.73	$1219.73	—	PFD	097023204
XYLD	Global X S&P 500 Covered Call ETF	65,292	$2.736M	0.3%	$41.90	$39.42	—	COM	37954Y475
BKTI	BK Technologies Corp.	77,227	$2.648M	0.2%	$34.29 *	$13.66	+123.2%	COM	05587G203
—	Public Storage Depositary Shs Repr 1/1000th Cum Red Pfd Registered Shs Series H	112,562	$2.617M	0.2%	$23.25	$23.71	—	PFD	74460W644
AMGN	Amgen Inc.	9,107	$2.374M	0.2%	$260.65 *	$255.10	+12.1%	COM	031162100
EFC	Ellington Financial Inc.	182,960	$2.217M	0.2%	$12.12	$16.77	—	COM	28852N109
TRTN 8 PERP	Triton International Ltd. Conv Red Perp Pfd Registered Shs Series B	86,248	$2.17M	0.2%	$25.16	$25.20	—	PFD	G9078F131
EU	enCore Energy Corp.	629,306	$2.146M	0.2%	$3.41 *	$3.96	-5.0%	COM	29259W700
—	Boeing Pfd Registered shs Series A	34,306	$2.089M	0.2%	$60.89	$149.55	—	PFD	060505682
—	Ares Management Corporation Pfd Registered shs Series B	35,472	$1.952M	0.2%	$55.04	$55.04	—	PFD	03990B309
LFMD	LifeMD, Inc.	385,253	$1.907M	0.2%	$4.95 *	$8.14	-35.6%	COM	53216B104
OMAB	Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR Class B	26,945	$1.85M	0.2%	$68.64	$68.64	—	COM	400501102
PAC	Grupo Aeroportuario del Pacifico SAB de CV Sponsored ADR Class B	10,467	$1.832M	0.2%	$175.00	$175.00	—	COM	400506101
IRMD	IRadimed Corp.	32,540	$1.79M	0.2%	$55.00 *	$51.73	0.0%	COM	46266A109
CASS	Cass Information Systems, Inc.	42,403	$1.735M	0.2%	$40.91	$38.34	+8.2%	COM	14808P109
—	Redwood Trust, Inc. Cum Red Pfd Registered Shs A Series A	67,248	$1.725M	0.2%	$25.65	$24.00	—	PFD	758075808
—	Medallion Bank Non-Cum Perp Pfd Registered Shs Series F	67,814	$1.715M	0.2%	$25.29	$22.78	—	PFD	58403B205
CWEN	Clearway Energy, Inc. Class C	65,506	$1.703M	0.2%	$26.00	$25.46	+1.5%	COM	18539C204
SLP	Simulations Plus, Inc.	59,640	$1.663M	0.2%	$27.89 *	$47.77	-36.3%	COM	829214105
—	New York Mortgage Trust, Inc. Cum Conv Red Pfd Registered Shs Series E	65,911	$1.632M	0.2%	$24.76	$23.32	—	PFD	649604873
CPK	Chesapeake Utilities Corporation	13,171	$1.598M	0.1%	$121.35	$90.91	+32.8%	COM	165303108
—	Compass Diversified Holdings Red Perp Pfd Registered Shs Series C	62,181	$1.539M	0.1%	$24.75	$26.01	—	PFD	20451Q401
AHR	American Healthcare REIT, Inc.	53,455	$1.519M	0.1%	$28.42	$28.42	—	COM	398182303
KRC	Kilroy Realty Corporation	36,432	$1.474M	0.1%	$40.45	$40.45	—	COM	49427F108
DVN	Devon Energy Corporation	44,784	$1.466M	0.1%	$32.73 *	$59.08	-38.3%	COM	25179M103
UDR	UDR, Inc.	33,720	$1.464M	0.1%	$43.41 *	$42.30	0.0%	COM	902653104
GTY	Getty Realty Corp.	47,073	$1.418M	0.1%	$30.13	$30.13	—	COM	374297109
XHR	Xenia Hotels & Resorts, Inc.	95,179	$1.414M	0.1%	$14.86	$14.86	—	COM	984017103
PCH	PotlatchDeltic Corporation	35,480	$1.393M	0.1%	$39.25	$39.25	—	COM	737630103
—	Chart Industries, Inc. Shs Depository Shs Repr 1/20th Pfd Shs Series B	19,562	$1.379M	0.1%	$70.48	$70.48	—	PFD	16115Q407
—	Apollo Global Management Inc Mandatory Conv Pfd Registered Shs Series A	13,952	$1.213M	0.1%	$86.91	$86.91	—	PFD	03769M304
BTBT	Bit Digital, Inc.	358,534	$1.051M	0.1%	$2.93 *	$3.35	+17.3%	COM	G1144A105
—	Cushman & Wakefield Plc	78,817	$1.031M	0.1%	$13.08	$13.08	—	COM	G2717B108
KNTK	Kinetik Holdings Inc. Class A	18,033	$1.023M	0.1%	$56.71 *	$54.06	0.0%	COM	02215L209
RPRX	Royalty Pharma Plc Class A	39,934	$1.019M	0.1%	$25.51 *	$26.52	0.0%	COM	G7709Q104
AL	Air Lease Corporation Class A	20,351	$981K	0.1%	$48.21 *	$46.30	0.0%	COM	00912X302
—	RLJ Lodging Trust USD 1.95 Cum Conv Pfd Registered Shs Series A	39,143	$961K	0.1%	$24.56	$24.56	—	PFD	74965L200
—	Albemarle Corporation Depository Shs Conv Pfd Registered Shs	20,904	$851K	0.1%	$40.69	$40.69	—	PFD	012653200