Presima Securities ULC Long-Term Concentrated

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AVB	AVALONBAY CMNTYS INC	15,341 (+99.2%)	$2,781 (+87.0%)	1.6%	$164.26	+9.4%	COM	053484101
ARE	ALEXANDRIA REAL ESTATE EQ IN	22,027 (+1.4%)	$1,078 (-40.5%)	0.6%	$87.53	-33.7%	COM	015271109
SPG	SIMON PPTY GROUP INC NEW	11,492 (+45.6%)	$2,127 (+43.6%)	1.2%	$138.00	+30.4%	COM	828806109
AMT	AMERICAN TOWER CORP NEW	18,568 (+2.0%)	$3,260 (-6.9%)	1.9%	$214.74	-16.0%	COM	03027X100
KRG	KITE RLTY GROUP TR	67,855 (+2.3%)	$1,626 (+10.0%)	0.9%	$22.54	—	COM NEW	49803T300
LNG	CHENIERE ENERGY INC	2,825 (+1.5%)	$549 (-16.0%)	0.3%	$95.65	+119.5%	COM NEW	16411R208
EIX	EDISON INTL	9,363 (+2.1%)	$562 (+10.8%)	0.3%	$49.55	+15.7%	COM	281020107
SBAC	SBA COMMUNICATIONS CORP NEW	9,585 (+2.3%)	$1,854 (+2.3%)	1.1%	$210.90	-8.6%	CL A	78410G104
ES	EVERSOURCE ENERGY	14,430 (+1.7%)	$972 (-3.7%)	0.6%	$67.71	+2.7%	COM	30040W108
WMB	WILLIAMS COS INC	14,092 (+1.2%)	$847 (-4.0%)	0.5%	$21.59	+178.2%	COM	969457100
AWK	AMERICAN WTR WKS CO INC NEW	5,885 (+2.0%)	$768 (-4.3%)	0.4%	$139.15	-4.3%	COM	030420103
EPR	EPR PPTYS	4,702 (+2.8%)	$235 (-11.6%)	0.1%	$52.54	—	COM SH BEN INT	26884U109
PDM	PIEDMONT REALTY TRUST INC	45,142 (+2.1%)	$376 (-5.4%)	0.2%	$14.48	—	COM CL A	720190206
OKE	ONEOK INC NEW	9,641 (+1.7%)	$709 (+2.5%)	0.4%	$40.78	+72.8%	COM	682680103
ED	CONSOLIDATED EDISON INC	10,326 (+2.0%)	$1,026 (+0.8%)	0.6%	$67.36	+46.7%	COM	209115104
SRE	SEMPRA	5,856 (+1.5%)	$517 (-0.4%)	0.3%	$61.30	+47.7%	COM	816851109

Exited Positions (1)

— HUDSON PAC PPTYS INC 6.4%

Value ($000) $11,094 Shares 4,019,543 Est. Cost $7.63 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	HUDSON PAC PPTYS INC	4,019,543	$11,094	6.4%	$7.63	—	—	444097109

Decreased Positions (17)

EQIX EQUINIX INC 7.3%

Value ($000) $12,668 (-61.3%) Shares 16,534 (-60.5%) Est. Cost $749.04 Unrealized +4.3%

BRX BRIXMOR PPTY GROUP INC 6.7%

Value ($000) $11,555 (-59.1%) Shares 440,708 (-56.8%) Est. Cost $18.54 Unrealized —

VTR VENTAS INC 7.9%

Value ($000) $13,652 (-51.2%) Shares 176,423 (-55.8%) Est. Cost $54.56 Unrealized +37.4%

GLPI GAMING & LEISURE PPTYS INC 5.6%

Value ($000) $9,741 (-58.8%) Shares 217,958 (-57.1%) Est. Cost $45.86 Unrealized —

FR FIRST INDL RLTY TR INC 6.0%

Value ($000) $10,424 (-54.4%) Shares 182,016 (-59.0%) Est. Cost $48.13 Unrealized —

SBRA SABRA HEALTH CARE REIT INC 1.5%

Value ($000) $2,582 (-82.5%) Shares 136,324 (-82.8%) Est. Cost $16.38 Unrealized —

EQR EQUITY RESIDENTIAL 4.6%

Value ($000) $8,058 (-60.1%) Shares 127,817 (-59.1%) Est. Cost $60.86 Unrealized -0.3%

INVH INVITATION HOMES INC 3.4%

Value ($000) $5,859 (-67.4%) Shares 210,816 (-65.6%) Est. Cost $30.89 Unrealized -10.5%

DLR DIGITAL RLTY TR INC 4.4%

Value ($000) $7,651 (-60.8%) Shares 49,452 (-56.1%) Est. Cost $155.42 Unrealized +5.0%

CUBE CUBESMART 3.2%

Value ($000) $5,535 (-65.4%) Shares 153,539 (-61.0%) Est. Cost $42.58 Unrealized —

UDR UDR INC 4.0%

Value ($000) $6,930 (-57.3%) Shares 188,943 (-56.6%) Est. Cost $33.81 Unrealized +5.1%

SKT TANGER INC 2.7%

Value ($000) $4,757 (-64.2%) Shares 142,545 (-63.7%) Est. Cost $30.58 Unrealized —

NTST NETSTREIT CORP 2.2%

Value ($000) $3,858 (-64.5%) Shares 218,704 (-63.6%) Est. Cost $14.94 Unrealized —

SUI SUN CMNTYS INC 2.6%

Value ($000) $4,483 (-59.5%) Shares 36,178 (-57.8%) Est. Cost $148.47 Unrealized —

DOC HEALTHPEAK PROPERTIES INC 3.5%

Value ($000) $6,013 (-50.1%) Shares 373,942 (-40.6%) Est. Cost $17.49 Unrealized -0.2%

COLD AMERICOLD REALTY TRUST INC 3.2%

Value ($000) $5,509 (-49.2%) Shares 428,379 (-51.6%) Est. Cost $20.16 Unrealized —

PLD PROLOGIS INC. 1.8%

Value ($000) $3,056 (-28.0%) Shares 23,942 (-35.4%) Est. Cost $100.28 Unrealized +23.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EQIX	EQUINIX INC	16,534 (-60.5%)	$12,668 (-61.3%)	7.3%	$749.04	+4.3%	COM	29444U700
BRX	BRIXMOR PPTY GROUP INC	440,708 (-56.8%)	$11,555 (-59.1%)	6.7%	$18.54	—	COM	11120U105
VTR	VENTAS INC	176,423 (-55.8%)	$13,652 (-51.2%)	7.9%	$54.56	+37.4%	COM	92276F100
GLPI	GAMING & LEISURE PPTYS INC	217,958 (-57.1%)	$9,741 (-58.8%)	5.6%	$45.86	—	COM	36467J108
FR	FIRST INDL RLTY TR INC	182,016 (-59.0%)	$10,424 (-54.4%)	6.0%	$48.13	—	COM	32054K103
SBRA	SABRA HEALTH CARE REIT INC	136,324 (-82.8%)	$2,582 (-82.5%)	1.5%	$16.38	—	COM	78573L106
EQR	EQUITY RESIDENTIAL	127,817 (-59.1%)	$8,058 (-60.1%)	4.6%	$60.86	-0.3%	SH BEN INT	29476L107
INVH	INVITATION HOMES INC	210,816 (-65.6%)	$5,859 (-67.4%)	3.4%	$30.89	-10.5%	COM	46187W107
DLR	DIGITAL RLTY TR INC	49,452 (-56.1%)	$7,651 (-60.8%)	4.4%	$155.42	+5.0%	COM	253868103
CUBE	CUBESMART	153,539 (-61.0%)	$5,535 (-65.4%)	3.2%	$42.58	—	COM	229663109
UDR	UDR INC	188,943 (-56.6%)	$6,930 (-57.3%)	4.0%	$33.81	+5.1%	COM	902653104
SKT	TANGER INC	142,545 (-63.7%)	$4,757 (-64.2%)	2.7%	$30.58	—	COM	875465106
NTST	NETSTREIT CORP	218,704 (-63.6%)	$3,858 (-64.5%)	2.2%	$14.94	—	COM	64119V303
SUI	SUN CMNTYS INC	36,178 (-57.8%)	$4,483 (-59.5%)	2.6%	$148.47	—	COM	866674104
DOC	HEALTHPEAK PROPERTIES INC	373,942 (-40.6%)	$6,013 (-50.1%)	3.5%	$17.49	-0.2%	COM	42250P103
COLD	AMERICOLD REALTY TRUST INC	428,379 (-51.6%)	$5,509 (-49.2%)	3.2%	$20.16	—	COM	03064D108
PLD	PROLOGIS INC.	23,942 (-35.4%)	$3,056 (-28.0%)	1.8%	$100.28	+23.5%	COM	74340W103

Unchanged Positions (14)

VICI VICI PPTYS INC 1.6%

Value ($000) $2,766 Shares 98,374 Est. Cost $24.87 Unrealized +17.8%

HIW HIGHWOODS PPTYS INC 0.9%

Value ($000) $1,474 Shares 57,083 Est. Cost $34.41 Unrealized —

BDN BRANDYWINE RLTY TR 0.4%

Value ($000) $777 Shares 265,994 Est. Cost $9.84 Unrealized —

PSA PUBLIC STORAGE OPER CO 1.2%

Value ($000) $2,153 Shares 8,298 Est. Cost $247.97 Unrealized +11.8%

O REALTY INCOME CORP 1.9%

Value ($000) $3,222 Shares 57,161 Est. Cost $50.55 Unrealized +13.5%

REG REGENCY CTRS CORP 2.0%

Value ($000) $3,453 Shares 50,019 Est. Cost $54.59 Unrealized +27.3%

CCI CROWN CASTLE INC 1.2%

Value ($000) $2,006 Shares 22,570 Est. Cost $126.90 Unrealized -28.2%

HR HEALTHCARE RLTY TR 1.3%

Value ($000) $2,200 Shares 129,765 Est. Cost $19.55 Unrealized —

EXR EXTRA SPACE STORAGE INC 0.9%

Value ($000) $1,514 Shares 11,624 Est. Cost $125.26 Unrealized +7.8%

WPC WP CAREY INC 1.6%

Value ($000) $2,781 Shares 43,207 Est. Cost $69.22 Unrealized —

CDP COPT DEFENSE PROPERTIES 1.1%

Value ($000) $1,824 Shares 65,602 Est. Cost $24.77 Unrealized —

ADC AGREE RLTY CORP 1.6%

Value ($000) $2,752 Shares 38,203 Est. Cost $67.19 Unrealized —

CPT CAMDEN PPTY TR 0.9%

Value ($000) $1,486 Shares 13,503 Est. Cost $92.30 Unrealized +11.7%

KMI KINDER MORGAN INC DEL 0.7%

Value ($000) $1,298 Shares 47,204 Est. Cost $12.66 Unrealized +112.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VICI	VICI PPTYS INC	98,374	$2,766	1.6%	$24.87	+17.8%	COM	925652109
HIW	HIGHWOODS PPTYS INC	57,083	$1,474	0.9%	$34.41	—	COM	431284108
BDN	BRANDYWINE RLTY TR	265,994	$777	0.4%	$9.84	—	SH BEN INT NEW	105368203
PSA	PUBLIC STORAGE OPER CO	8,298	$2,153	1.2%	$247.97	+11.8%	COM	74460D109
O	REALTY INCOME CORP	57,161	$3,222	1.9%	$50.55	+13.5%	COM	756109104
REG	REGENCY CTRS CORP	50,019	$3,453	2.0%	$54.59	+27.3%	COM	758849103
CCI	CROWN CASTLE INC	22,570	$2,006	1.2%	$126.90	-28.2%	COM	22822V101
HR	HEALTHCARE RLTY TR	129,765	$2,200	1.3%	$19.55	—	CL A COM	42226K105
EXR	EXTRA SPACE STORAGE INC	11,624	$1,514	0.9%	$125.26	+7.8%	COM	30225T102
WPC	WP CAREY INC	43,207	$2,781	1.6%	$69.22	—	COM	92936U109
CDP	COPT DEFENSE PROPERTIES	65,602	$1,824	1.1%	$24.77	—	SHS BEN INT	22002T108
ADC	AGREE RLTY CORP	38,203	$2,752	1.6%	$67.19	—	COM	008492100
CPT	CAMDEN PPTY TR	13,503	$1,486	0.9%	$92.30	+11.7%	SH BEN INT	133131102
KMI	KINDER MORGAN INC DEL	47,204	$1,298	0.7%	$12.66	+112.6%	COM	49456B101