Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PECO	Phillips Edison and Co Inc	25,500 (+59.4%)	$1,061 (+77.1%)	0.5%	$0.04	—	COMMON STOCK	71844V201
KIM	Kimco Realty Corp	65,731 (+17.9%)	$1,666 (+33.1%)	0.9%	$15.39	—	COMMON STOCK	49446R109
NHI	National Health Investors Inc	12,200 (+74.3%)	$930 (+64.3%)	0.5%	$32.74	—	COMMON STOCK	63633D104
NNN	National Retail Properties Inc	54,700 (+4.8%)	$2,545 (+16.0%)	1.3%	$33.76	—	COMMON STOCK	637417106
WPC	WP Carey Inc	45,800 (+3.4%)	$3,275 (+8.8%)	1.7%	$63.80	—	COMMON STOCK	92936U109
MRP	Millrose Properties Inc	49,500 (+11.2%)	$1,487 (+19.3%)	0.8%	$21.42	—	COMMON STOCK	601137102
LTC	LTC Properties Inc	44,500 (+7.2%)	$1,711 (+11.0%)	0.9%	$22.80	—	COMMON STOCK	502175102

Exited Positions (1)

PW Power REIT 0.0%

Value $67 Shares 78,526 Est. Cost $7.78 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PW	Power REIT	78,526	$67	0.0%	$7.78	—	—	73933H101

Decreased Positions (1)

DOC Healthpeak Properties Inc 2.2%

Value $4,312 (+21.8%) Shares 201,473 (-6.5%) Est. Cost $19.88 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DOC	Healthpeak Properties Inc	201,473 (-6.5%)	$4,312 (+21.8%)	2.2%	$19.88	—	COMMON STOCK	42250P103

Unchanged Positions (67)

WELL Welltower Inc 7.0%

Value $13,676 Shares 60,253 Est. Cost $72.65 Unrealized —

SPG Simon Property Group Inc 4.9%

Value $9,507 Shares 42,508 Est. Cost $105.73 Unrealized —

PSA Public Storage 3.8%

Value $7,445 Shares 23,389 Est. Cost $183.78 Unrealized —

IRM Iron Mountain Inc 2.8%

Value $5,368 Shares 42,500 Est. Cost $30.07 Unrealized —

EQIX Equinix Inc 7.7%

Value $14,921 Shares 14,314 Est. Cost $688.20 Unrealized —

INVH Invitation Homes Inc 1.7%

Value $3,236 Shares 107,110 Est. Cost $25.75 Unrealized —

AVB AvalonBay Communities Inc 2.1%

Value $4,174 Shares 22,120 Est. Cost $125.98 Unrealized —

LAMR Lamar Advertising Co 1.4%

Value $2,761 Shares 17,700 Est. Cost $103.76 Unrealized —

ESS Essex Property Trust Inc 1.6%

Value $3,031 Shares 10,395 Est. Cost $184.29 Unrealized —

HST Host Hotels and Resorts Inc 1.3%

Value $2,490 Shares 104,998 Est. Cost $12.73 Unrealized —

EQR Equity Residential 1.9%

Value $3,672 Shares 54,056 Est. Cost $47.70 Unrealized —

VTR Ventas Inc 3.0%

Value $5,921 Shares 66,679 Est. Cost $48.57 Unrealized —

COLD Americold Realty Trust Inc 0.8%

Value $1,603 Shares 102,000 Est. Cost $15.49 Unrealized —

PLD Prologis Inc 9.0%

Value $17,483 Shares 129,053 Est. Cost $74.40 Unrealized —

AMH American Homes 4 Rent 1.3%

Value $2,447 Shares 73,000 Est. Cost $25.51 Unrealized —

SILA Sila Realty Trust Inc 0.9%

Value $1,822 Shares 60,000 Est. Cost $15.94 Unrealized —

EXR Extra Space Storage Inc 1.7%

Value $3,246 Shares 22,340 Est. Cost $125.13 Unrealized —

RLJ RLJ Lodging Trust 0.4%

Value $820 Shares 69,200 Est. Cost $20.12 Unrealized —

CUZ Cousins Properties Inc 0.6%

Value $1,228 Shares 40,977 Est. Cost $31.61 Unrealized —

MAA Mid-America Apartment Communities Inc 1.2%

Value $2,312 Shares 16,640 Est. Cost $91.85 Unrealized —

UDR UDR Inc 0.9%

Value $1,741 Shares 43,605 Est. Cost $27.09 Unrealized —

OUT Outfront Media Inc 0.7%

Value $1,396 Shares 42,617 Est. Cost $17.46 Unrealized —

EPR EPR Properties 1.0%

Value $1,912 Shares 32,962 Est. Cost $43.38 Unrealized —

APLE Apple Hospitality REIT Inc 0.4%

Value $841 Shares 50,000 Est. Cost $14.39 Unrealized —

BRX Brixmor Property Group Inc 1.6%

Value $3,027 Shares 96,000 Est. Cost $22.41 Unrealized —

KRG Kite Realty Group Trust 1.0%

Value $1,916 Shares 67,500 Est. Cost $21.21 Unrealized —

LXP LXP Industrial Trust 0.9%

Value $1,800 Shares 33,400 Est. Cost $49.58 Unrealized —

CPT Camden Property Trust 0.9%

Value $1,727 Shares 15,086 Est. Cost $73.15 Unrealized —

VNO Vornado Realty Trust 0.4%

Value $718 Shares 18,265 Est. Cost $72.24 Unrealized —

BNL Broadstone Net Lease Inc 1.0%

Value $1,860 Shares 90,000 Est. Cost $16.20 Unrealized —

HR Healthcare Realty Trust Inc 0.7%

Value $1,305 Shares 64,719 Est. Cost $19.32 Unrealized —

BXP Boston Properties Inc 0.5%

Value $910 Shares 13,717 Est. Cost $66.61 Unrealized —

PK Park Hotels and Resorts Inc 0.4%

Value $742 Shares 52,038 Est. Cost $17.53 Unrealized —

CLDT Chatham Lodging Trust 0.2%

Value $476 Shares 36,000 Est. Cost $17.48 Unrealized —

OHI Omega Healthcare Investors Inc 1.1%

Value $2,208 Shares 46,300 Est. Cost $34.95 Unrealized —

INN Summit Hotel Properties Inc 0.2%

Value $484 Shares 69,000 Est. Cost $12.94 Unrealized —

HIW Highwoods Properties Inc 0.3%

Value $597 Shares 19,802 Est. Cost $37.64 Unrealized —

CUBE CubeSmart 1.1%

Value $2,140 Shares 53,800 Est. Cost $30.18 Unrealized —

KRC Kilroy Realty Corp 0.3%

Value $674 Shares 18,000 Est. Cost $34.00 Unrealized —

CTRE CareTrust REIT Inc 0.9%

Value $1,654 Shares 41,000 Est. Cost $28.59 Unrealized —

VICI VICI Properties Inc 2.6%

Value $4,991 Shares 188,000 Est. Cost $25.81 Unrealized —

XRN Chiron Real Estate Inc 0.5%

Value $1,043 Shares 27,800 Est. Cost $30.08 Unrealized —

ARE Alexandria Real Estate Equities Inc 0.5%

Value $988 Shares 18,700 Est. Cost $90.09 Unrealized —

MAC Macerich Co/The 0.2%

Value $472 Shares 18,720 Est. Cost $58.05 Unrealized —

HPP Hudson Pacific Properties Inc 0.1%

Value $183 Shares 12,071 Est. Cost $10.85 Unrealized —

O Realty Income Corp 4.5%

Value $8,790 Shares 141,870 Est. Cost $51.37 Unrealized —

STAG STAG Industrial Inc 1.1%

Value $2,051 Shares 53,880 Est. Cost $26.39 Unrealized —

IIPR Innovative Industrial Properties Inc 0.3%

Value $521 Shares 8,400 Est. Cost $88.82 Unrealized —

CHCT Community Healthcare Trust Inc 0.4%

Value $731 Shares 40,000 Est. Cost $12.33 Unrealized —

IRT Independence Realty Trust Inc 0.4%

Value $743 Shares 44,500 Est. Cost $16.07 Unrealized —

GTY Getty Realty Corp 0.8%

Value $1,568 Shares 47,000 Est. Cost $25.83 Unrealized —

UMH UMH Properties Inc 0.7%

Value $1,346 Shares 88,900 Est. Cost $7.28 Unrealized —

BDN Brandywine Realty Trust 0.2%

Value $417 Shares 131,400 Est. Cost $13.35 Unrealized —

SKT TANGER INC 0.2%

Value $434 Shares 11,000 Est. Cost $31.98 Unrealized —

PEB Pebblebrook Hotel Trust 0.1%

Value $173 Shares 8,911 Est. Cost $28.31 Unrealized —

FCPT Four Corners Property Trust Inc 0.6%

Value $1,092 Shares 44,500 Est. Cost $17.27 Unrealized —

REG Regency Centers Corp 0.4%

Value $718 Shares 9,000 Est. Cost $68.63 Unrealized —

NSA National Storage Affiliates Trust 0.1%

Value $236 Shares 5,300 Est. Cost $38.65 Unrealized —

EPRT Essential Properties Realty Trust Inc 0.9%

Value $1,806 Shares 60,500 Est. Cost $20.94 Unrealized —

DLR Digital Realty Trust Inc 4.4%

Value $8,462 Shares 47,119 Est. Cost $94.96 Unrealized —

SBRA Sabra Health Care REIT Inc 1.0%

Value $1,907 Shares 97,730 Est. Cost $18.45 Unrealized —

GNL Global Net Lease Inc 0.1%

Value $277 Shares 30,976 Est. Cost $18.32 Unrealized —

CSR Centerspace 0.3%

Value $606 Shares 10,780 Est. Cost $74.11 Unrealized —

SITC SITE Centers Corp 0.0%

Value $30 Shares 7,500 Est. Cost $60.53 Unrealized —

GLPI Gaming and Leisure Properties Inc 0.9%

Value $1,789 Shares 40,172 Est. Cost $43.84 Unrealized —

DBRG DigitalBridge Group Inc 0.1%

Value $225 Shares 14,233 Est. Cost $19.04 Unrealized —

MPT Medical Properties Trust Inc 0.2%

Value $402 Shares 87,000 Est. Cost $14.28 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WELL	Welltower Inc	60,253	$13,676	7.0%	$72.65	—	COMMON STOCK	95040Q104
SPG	Simon Property Group Inc	42,508	$9,507	4.9%	$105.73	—	COMMON STOCK	828806109
PSA	Public Storage	23,389	$7,445	3.8%	$183.78	—	COMMON STOCK	74460D109
IRM	Iron Mountain Inc	42,500	$5,368	2.8%	$30.07	—	COMMON STOCK	46284V101
EQIX	Equinix Inc	14,314	$14,921	7.7%	$688.20	—	COMMON STOCK	29444U700
INVH	Invitation Homes Inc	107,110	$3,236	1.7%	$25.75	—	COMMON STOCK	46187W107
AVB	AvalonBay Communities Inc	22,120	$4,174	2.1%	$125.98	—	COMMON STOCK	053484101
LAMR	Lamar Advertising Co	17,700	$2,761	1.4%	$103.76	—	COMMON STOCK	512816109
ESS	Essex Property Trust Inc	10,395	$3,031	1.6%	$184.29	—	COMMON STOCK	297178105
HST	Host Hotels and Resorts Inc	104,998	$2,490	1.3%	$12.73	—	COMMON STOCK	44107P104
EQR	Equity Residential	54,056	$3,672	1.9%	$47.70	—	COMMON STOCK	29476L107
VTR	Ventas Inc	66,679	$5,921	3.0%	$48.57	—	COMMON STOCK	92276F100
COLD	Americold Realty Trust Inc	102,000	$1,603	0.8%	$15.49	—	COMMON STOCK	03064D108
PLD	Prologis Inc	129,053	$17,483	9.0%	$74.40	—	COMMON STOCK	74340W103
AMH	American Homes 4 Rent	73,000	$2,447	1.3%	$25.51	—	COMMON STOCK	02665T306
SILA	Sila Realty Trust Inc	60,000	$1,822	0.9%	$15.94	—	COMMON STOCK	146280508
EXR	Extra Space Storage Inc	22,340	$3,246	1.7%	$125.13	—	COMMON STOCK	30225T102
RLJ	RLJ Lodging Trust	69,200	$820	0.4%	$20.12	—	COMMON STOCK	74965L101
CUZ	Cousins Properties Inc	40,977	$1,228	0.6%	$31.61	—	COMMON STOCK	222795502
MAA	Mid-America Apartment Communities Inc	16,640	$2,312	1.2%	$91.85	—	COMMON STOCK	59522J103
UDR	UDR Inc	43,605	$1,741	0.9%	$27.09	—	COMMON STOCK	902653104
OUT	Outfront Media Inc	42,617	$1,396	0.7%	$17.46	—	COMMON STOCK	69007J304
EPR	EPR Properties	32,962	$1,912	1.0%	$43.38	—	COMMON STOCK	26884U109
APLE	Apple Hospitality REIT Inc	50,000	$841	0.4%	$14.39	—	COMMON STOCK	03784Y200
BRX	Brixmor Property Group Inc	96,000	$3,027	1.6%	$22.41	—	COMMON STOCK	11120U105
KRG	Kite Realty Group Trust	67,500	$1,916	1.0%	$21.21	—	COMMON STOCK	49803T300
LXP	LXP Industrial Trust	33,400	$1,800	0.9%	$49.58	—	COMMON STOCK	529043408
CPT	Camden Property Trust	15,086	$1,727	0.9%	$73.15	—	COMMON STOCK	133131102
VNO	Vornado Realty Trust	18,265	$718	0.4%	$72.24	—	COMMON STOCK	929042109
BNL	Broadstone Net Lease Inc	90,000	$1,860	1.0%	$16.20	—	COMMON STOCK	11135E203
HR	Healthcare Realty Trust Inc	64,719	$1,305	0.7%	$19.32	—	COMMON STOCK	42226K105
BXP	Boston Properties Inc	13,717	$910	0.5%	$66.61	—	COMMON STOCK	101121101
PK	Park Hotels and Resorts Inc	52,038	$742	0.4%	$17.53	—	COMMON STOCK	700517105
CLDT	Chatham Lodging Trust	36,000	$476	0.2%	$17.48	—	COMMON STOCK	16208T102
OHI	Omega Healthcare Investors Inc	46,300	$2,208	1.1%	$34.95	—	COMMON STOCK	681936100
INN	Summit Hotel Properties Inc	69,000	$484	0.2%	$12.94	—	COMMON STOCK	866082100
HIW	Highwoods Properties Inc	19,802	$597	0.3%	$37.64	—	COMMON STOCK	431284108
CUBE	CubeSmart	53,800	$2,140	1.1%	$30.18	—	COMMON STOCK	229663109
KRC	Kilroy Realty Corp	18,000	$674	0.3%	$34.00	—	COMMON STOCK	49427F108
CTRE	CareTrust REIT Inc	41,000	$1,654	0.9%	$28.59	—	COMMON STOCK	14174T107
VICI	VICI Properties Inc	188,000	$4,991	2.6%	$25.81	—	COMMON STOCK	925652109
XRN	Chiron Real Estate Inc	27,800	$1,043	0.5%	$30.08	—	COMMON STOCK	37954A303
ARE	Alexandria Real Estate Equities Inc	18,700	$988	0.5%	$90.09	—	COMMON STOCK	015271109
MAC	Macerich Co/The	18,720	$472	0.2%	$58.05	—	COMMON STOCK	554382101
HPP	Hudson Pacific Properties Inc	12,071	$183	0.1%	$10.85	—	COMMON STOCK	444097406
O	Realty Income Corp	141,870	$8,790	4.5%	$51.37	—	COMMON STOCK	756109104
STAG	STAG Industrial Inc	53,880	$2,051	1.1%	$26.39	—	COMMON STOCK	85254J102
IIPR	Innovative Industrial Properties Inc	8,400	$521	0.3%	$88.82	—	COMMON STOCK	45781V101
CHCT	Community Healthcare Trust Inc	40,000	$731	0.4%	$12.33	—	COMMON STOCK	20369C106
IRT	Independence Realty Trust Inc	44,500	$743	0.4%	$16.07	—	COMMON STOCK	45378A106
GTY	Getty Realty Corp	47,000	$1,568	0.8%	$25.83	—	COMMON STOCK	374297109
UMH	UMH Properties Inc	88,900	$1,346	0.7%	$7.28	—	COMMON STOCK	903002103
BDN	Brandywine Realty Trust	131,400	$417	0.2%	$13.35	—	COMMON STOCK	105368203
SKT	TANGER INC	11,000	$434	0.2%	$31.98	—	COMMON STOCK	875465106
PEB	Pebblebrook Hotel Trust	8,911	$173	0.1%	$28.31	—	COMMON STOCK	70509V100
FCPT	Four Corners Property Trust Inc	44,500	$1,092	0.6%	$17.27	—	COMMON STOCK	35086T109
REG	Regency Centers Corp	9,000	$718	0.4%	$68.63	—	COMMON STOCK	758849103
NSA	National Storage Affiliates Trust	5,300	$236	0.1%	$38.65	—	COMMON STOCK	637870106
EPRT	Essential Properties Realty Trust Inc	60,500	$1,806	0.9%	$20.94	—	COMMON STOCK	29670E107
DLR	Digital Realty Trust Inc	47,119	$8,462	4.4%	$94.96	—	COMMON STOCK	253868103
SBRA	Sabra Health Care REIT Inc	97,730	$1,907	1.0%	$18.45	—	COMMON STOCK	78573L106
GNL	Global Net Lease Inc	30,976	$277	0.1%	$18.32	—	COMMON STOCK	379378201
CSR	Centerspace	10,780	$606	0.3%	$74.11	—	COMMON STOCK	15202L107
SITC	SITE Centers Corp	7,500	$30	0.0%	$60.53	—	COMMON STOCK	82981J851
GLPI	Gaming and Leisure Properties Inc	40,172	$1,789	0.9%	$43.84	—	COMMON STOCK	36467J108
DBRG	DigitalBridge Group Inc	14,233	$225	0.1%	$19.04	—	COMMON STOCK	25401T603
MPT	Medical Properties Trust Inc	87,000	$402	0.2%	$14.28	—	COMMON STOCK	58463J304