Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPGI	S&P GLOBAL INC	51,441	$20.29M	2.5%	$394.47	$423.14	-6.8%	COM	78409V104
SPCX	SPACE EXPLORATION TECHN CORP	110,538	$16.68M	2.0%	$150.86	$138.41	+9.0%	CLASS A COM STK	84615Q103
ASML	ASML HLDG NV	3,087	$5.593M	0.7%	$1811.67	$1733.64	+4.5%	N Y REGISTRY SHS	N07059210
ORCL	ORACLE CORP	38,886	$5.339M	0.6%	$137.30	$141.09	-2.7%	COM	68389X105
BKNG	BOOKING HOLDINGS INC	29,585	$4.82M	0.6%	$162.91	$187.94	-13.3%	COM	09857L108
LRCX	LAM RESEARCH CORP	12,150	$3.991M	0.5%	$328.51	$312.25	+5.2%	COM NEW	512807306
CBRE	CBRE GROUP INC	30,978	$3.98M	0.5%	$128.47	$143.30	-10.3%	CL A	12504L109
COMP	COMPASS INC	427,500	$3.796M	0.5%	$8.88	$11.34	-21.7%	CL A	20464U100
MU	MICRON TECHNOLOGY INC	2,272	$2.42M	0.3%	$1065.11	$949.89	+12.1%	COM	595112103
STAG	STAG INDUSTRIAL INC	30,393	$1.088M	0.1%	$35.81	$35.81	—	COM	85254J102
VTR	VENTAS INC	10,686	$909K	0.1%	$85.02	$85.02	—	COM	92276F100
CUZ	COUSINS PPTYS INC	30,916	$855K	0.1%	$27.64	$27.64	—	COM NEW	222795502
BRX	BRIXMOR PPTY GROUP INC	20,842	$575K	0.1%	$27.60	$27.60	—	COM	11120U105
REXR	REXFORD INDL RLTY INC	15,605	$566K	0.1%	$36.27	$36.27	—	COM	76169C100
CSQR	CSQUARE INC	31,284	$495K	0.1%	$15.81	$19.68	-19.7%	COMMON STOCK	22946R101
LINE	LINEAGE INC	11,922	$407K	0.0%	$34.12	$34.12	—	COM	53566V106
KRG	KITE REALTY GROUP TRUST	13,548	$330K	0.0%	$24.39	$24.39	—	COM NEW	49803T300
EPR	EPR PPTYS	5,235	$294K	0.0%	$56.13	$56.13	—	COM SH BEN INT	26884U109
LXP	LXP INDUSTRIAL TRUST	3,903	$238K	0.0%	$60.92	$60.92	—	COM	529043408
AKR	ACADIA RLTY TR	10,634	$199K	0.0%	$18.74	$18.74	—	COM SH BEN INT	004239109

Increased Positions (29)

META META PLATFORMS INC 3.6%

Value $29.37M (+70.1%) Shares 40,507 (+32.1%) Share Price $725.18 Est. Cost/Share $574.62 Unrealized @ Report Date +26.2%

MSFT MICROSOFT CORP 2.9%

Value $23.72M (+74.6%) Shares 46,248 (+27.0%) Share Price $512.90 Est. Cost/Share $421.45 Unrealized @ Report Date +21.7%

PLD PROLOGIS INC. 1.6%

Value $13.54M (+48.2%) Shares 104,274 (+54.7%) Share Price $129.84 Est. Cost/Share $121.05 Unrealized @ Report Date —

AMZN AMAZON COM INC 1.5%

Value $12.36M (+40.4%) Shares 49,626 (+34.3%) Share Price $249.15 Est. Cost/Share $213.17 Unrealized @ Report Date +16.9%

VICI VICI PPTYS INC 0.4%

Value $3.394M (+116.9%) Shares 147,738 (+150.6%) Share Price $22.97 Est. Cost/Share $25.07 Unrealized @ Report Date —

NVDA NVIDIA CORPORATION 1.4%

Value $11.16M (+16.2%) Shares 48,885 (+1.8%) Share Price $228.38 Est. Cost/Share $205.76 Unrealized @ Report Date +11.0%

AHR AMERICAN HEALTHCARE REIT INC 0.3%

Value $2.119M (+166.9%) Shares 41,335 (+171.5%) Share Price $51.26 Est. Cost/Share $50.92 Unrealized @ Report Date —

CTRE CARETRUST REIT INC 0.2%

Value $1.908M (+175.2%) Shares 52,153 (+203.5%) Share Price $36.58 Est. Cost/Share $36.44 Unrealized @ Report Date —

REG REGENCY CTRS CORP 0.2%

Value $1.411M (+344.9%) Shares 19,625 (+393.6%) Share Price $71.88 Est. Cost/Share $73.47 Unrealized @ Report Date —

EQR VIVMARK RESIDENTIAL 0.4%

Value $3.284M (+40.9%) Shares 54,041 (+57.5%) Share Price $60.76 Est. Cost/Share $62.16 Unrealized @ Report Date —

V VISA INC 1.0%

Value $8.305M (+11.1%) Shares 23,113 (+6.1%) Share Price $359.33 Est. Cost/Share $341.68 Unrealized @ Report Date +5.2%

EXR EXTRA SPACE STORAGE INC 0.2%

Value $1.941M (+62.6%) Shares 14,761 (+79.6%) Share Price $131.51 Est. Cost/Share $135.29 Unrealized @ Report Date —

SBAC SBA COMMUNICATIONS CORP 0.3%

Value $2.875M (+33.4%) Shares 17,954 (+47.0%) Share Price $160.12 Est. Cost/Share $198.79 Unrealized @ Report Date —

VNO VORNADO RLTY TR 0.1%

Value $972K (+175.4%) Shares 28,688 (+219.5%) Share Price $33.88 Est. Cost/Share $31.41 Unrealized @ Report Date —

MAA MID-AMER APT CMNTYS INC 0.2%

Value $1.658M (+46.4%) Shares 14,081 (+72.7%) Share Price $117.74 Est. Cost/Share $130.01 Unrealized @ Report Date —

BNL BROADSTONE NET LEASE INC 0.1%

Value $771K (+178.2%) Shares 41,683 (+210.8%) Share Price $18.50 Est. Cost/Share $18.05 Unrealized @ Report Date —

EQIX EQUINIX INC 1.3%

Value $10.31M (+3.4%) Shares 10,195 (+6.5%) Share Price $1011.58 Est. Cost/Share $794.76 Unrealized @ Report Date —

O REALTY INCOME CORP 0.3%

Value $2.684M (-9.8%) Shares 49,430 (+2.9%) Share Price $54.30 Est. Cost/Share $57.98 Unrealized @ Report Date —

ELS EQUITY LIFESTYLE PROPERTIES 0.3%

Value $2.675M (-8.2%) Shares 45,857 (+1.5%) Share Price $58.33 Est. Cost/Share $62.83 Unrealized @ Report Date —

AVGO BROADCOM INC 0.4%

Value $3.364M (-4.5%) Shares 9,578 (+2.7%) Share Price $351.19 Est. Cost/Share $400.32 Unrealized @ Report Date -12.3%

CURB CURBLINE PPTYS CORP 0.1%

Value $750K (+16.5%) Shares 26,939 (+27.2%) Share Price $27.83 Est. Cost/Share $23.48 Unrealized @ Report Date —

WPC WP CAREY INC 0.2%

Value $1.616M (-5.5%) Shares 25,007 (+4.6%) Share Price $64.63 Est. Cost/Share $68.85 Unrealized @ Report Date —

ESS ESSEX PPTY TR INC 0.2%

Value $1.944M (+4.0%) Shares 7,218 (+12.6%) Share Price $269.39 Est. Cost/Share $263.15 Unrealized @ Report Date —

NNN NNN REIT INC 0.1%

Value $546K (-9.7%) Shares 13,295 (+2.3%) Share Price $41.09 Est. Cost/Share $46.41 Unrealized @ Report Date —

DLR DIGITAL RLTY TR INC 0.4%

Value $3.534M (+1.1%) Shares 20,134 (+3.4%) Share Price $175.53 Est. Cost/Share $138.88 Unrealized @ Report Date —

IRT INDEPENDENCE RLTY TR INC 0.0%

Value $238K (-11.8%) Shares 16,390 (+1.3%) Share Price $14.53 Est. Cost/Share $14.89 Unrealized @ Report Date —

FRT FEDERAL RLTY INVT TR NEW 0.1%

Value $1.125M (-1.4%) Shares 10,388 (+12.4%) Share Price $108.29 Est. Cost/Share $121.77 Unrealized @ Report Date —

CSGP COSTAR GROUP INC 0.4%

Value $3.497M (+0.3%) Shares 127,638 (+3.6%) Share Price $27.40 Est. Cost/Share $59.07 Unrealized @ Report Date -53.6%

ADC AGREE RLTY CORP 0.1%

Value $619K (+0.4%) Shares 9,258 (+13.8%) Share Price $66.81 Est. Cost/Share $70.84 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
META	META PLATFORMS INC	40,507 (+32.1%)	$29.37M (+70.1%)	3.6%	$725.18	$574.62	+26.2%	CL A	30303M102
MSFT	MICROSOFT CORP	46,248 (+27.0%)	$23.72M (+74.6%)	2.9%	$512.90	$421.45	+21.7%	COM	594918104
PLD	PROLOGIS INC.	104,274 (+54.7%)	$13.54M (+48.2%)	1.6%	$129.84	$121.05	—	COM	74340W103
AMZN	AMAZON COM INC	49,626 (+34.3%)	$12.36M (+40.4%)	1.5%	$249.15	$213.17	+16.9%	COM	023135106
VICI	VICI PPTYS INC	147,738 (+150.6%)	$3.394M (+116.9%)	0.4%	$22.97	$25.07	—	COM	925652109
NVDA	NVIDIA CORPORATION	48,885 (+1.8%)	$11.16M (+16.2%)	1.4%	$228.38	$205.76	+11.0%	COM	67066G104
AHR	AMERICAN HEALTHCARE REIT INC	41,335 (+171.5%)	$2.119M (+166.9%)	0.3%	$51.26	$50.92	—	COM SHS	398182303
CTRE	CARETRUST REIT INC	52,153 (+203.5%)	$1.908M (+175.2%)	0.2%	$36.58	$36.44	—	COM	14174T107
REG	REGENCY CTRS CORP	19,625 (+393.6%)	$1.411M (+344.9%)	0.2%	$71.88	$73.47	—	COM	758849103
EQR	VIVMARK RESIDENTIAL	54,041 (+57.5%)	$3.284M (+40.9%)	0.4%	$60.76	$62.16	—	SH BEN INT	29476L107
V	VISA INC	23,113 (+6.1%)	$8.305M (+11.1%)	1.0%	$359.33	$341.68	+5.2%	COM CL A	92826C839
EXR	EXTRA SPACE STORAGE INC	14,761 (+79.6%)	$1.941M (+62.6%)	0.2%	$131.51	$135.29	—	COM	30225T102
SBAC	SBA COMMUNICATIONS CORP	17,954 (+47.0%)	$2.875M (+33.4%)	0.3%	$160.12	$198.79	—	CL A	78410G104
VNO	VORNADO RLTY TR	28,688 (+219.5%)	$972K (+175.4%)	0.1%	$33.88	$31.41	—	SH BEN INT	929042109
MAA	MID-AMER APT CMNTYS INC	14,081 (+72.7%)	$1.658M (+46.4%)	0.2%	$117.74	$130.01	—	COM	59522J103
BNL	BROADSTONE NET LEASE INC	41,683 (+210.8%)	$771K (+178.2%)	0.1%	$18.50	$18.05	—	COM	11135E203
EQIX	EQUINIX INC	10,195 (+6.5%)	$10.31M (+3.4%)	1.3%	$1011.58	$794.76	—	COM	29444U700
O	REALTY INCOME CORP	49,430 (+2.9%)	$2.684M (-9.8%)	0.3%	$54.30	$57.98	—	COM	756109104
ELS	EQUITY LIFESTYLE PROPERTIES	45,857 (+1.5%)	$2.675M (-8.2%)	0.3%	$58.33	$62.83	—	COM	29472R108
AVGO	BROADCOM INC	9,578 (+2.7%)	$3.364M (-4.5%)	0.4%	$351.19	$400.32	-12.3%	COM	11135F101
CURB	CURBLINE PPTYS CORP	26,939 (+27.2%)	$750K (+16.5%)	0.1%	$27.83	$23.48	—	COM	23128Q101
WPC	WP CAREY INC	25,007 (+4.6%)	$1.616M (-5.5%)	0.2%	$64.63	$68.85	—	COM	92936U109
ESS	ESSEX PPTY TR INC	7,218 (+12.6%)	$1.944M (+4.0%)	0.2%	$269.39	$263.15	—	COM	297178105
NNN	NNN REIT INC	13,295 (+2.3%)	$546K (-9.7%)	0.1%	$41.09	$46.41	—	COM	637417106
DLR	DIGITAL RLTY TR INC	20,134 (+3.4%)	$3.534M (+1.1%)	0.4%	$175.53	$138.88	—	COM	253868103
IRT	INDEPENDENCE RLTY TR INC	16,390 (+1.3%)	$238K (-11.8%)	0.0%	$14.53	$14.89	—	COM	45378A106
FRT	FEDERAL RLTY INVT TR NEW	10,388 (+12.4%)	$1.125M (-1.4%)	0.1%	$108.29	$121.77	—	SH BEN INT NEW	313745101
CSGP	COSTAR GROUP INC	127,638 (+3.6%)	$3.497M (+0.3%)	0.4%	$27.40	$59.07	-53.6%	COM	22160N109
ADC	AGREE RLTY CORP	9,258 (+13.8%)	$619K (+0.4%)	0.1%	$66.81	$70.84	—	COM	008492100

Exited Positions (19)

BSX BOSTON SCIENTIFIC CORP 0.8%

Value $6.524M Shares 152,865 Share Price $42.68 * Est. Cost/Share $65.52 Unrealized @ Report Date -33.4%

VST VISTRA CORP 0.4%

Value $3.114M Shares 19,632 Share Price $158.63 * Est. Cost/Share $155.14 Unrealized @ Report Date -10.8%

GLPI GAMING & LEISURE P 0.3%

Value $2.739M Shares 61,509 Share Price $44.53 Est. Cost/Share $46.38 Unrealized @ Report Date —

MSCI MSCI INC 0.3%

Value $2.548M Shares 4,549 Share Price $560.04 * Est. Cost/Share $547.03 Unrealized @ Report Date -1.5%

TSLA TESLA INC 0.3%

Value $2.439M Shares 5,800 Share Price $420.60 * Est. Cost/Share $397.72 Unrealized @ Report Date -10.8%

AVB AVALONBAY CMNTYS INC 0.3%

Value $2.423M Shares 12,839 Share Price $188.69 Est. Cost/Share $184.41 Unrealized @ Report Date —

BAP CREDICORP LTD 0.3%

Value $2.176M Shares 5,586 Share Price $389.58 * Est. Cost/Share $341.87 Unrealized @ Report Date +11.1%

DOC HEALTHPEAK PROPERTIES INC 0.2%

Value $1.591M Shares 74,328 Share Price $21.40 Est. Cost/Share $19.81 Unrealized @ Report Date —

OHI OMEGA HEALTHCARE INVS INC 0.1%

Value $1.043M Shares 21,884 Share Price $47.68 Est. Cost/Share $47.68 Unrealized @ Report Date —

SUI SUN CMNTYS INC 0.1%

Value $1.031M Shares 8,598 Share Price $119.91 Est. Cost/Share $119.91 Unrealized @ Report Date —

BXP BXP INC 0.1%

Value $629K Shares 9,486 Share Price $66.31 Est. Cost/Share $66.46 Unrealized @ Report Date —

IVT INVENTRUST PPTYS CORP 0.1%

Value $612K Shares 17,278 Share Price $35.40 Est. Cost/Share $28.43 Unrealized @ Report Date —

COLD AMERICOLD REALTY TRUST INC 0.1%

Value $519K Shares 33,021 Share Price $15.72 Est. Cost/Share $15.72 Unrealized @ Report Date —

KIM KIMCO REALTY CORP 0.1%

Value $448K Shares 17,656 Share Price $25.35 Est. Cost/Share $20.06 Unrealized @ Report Date —

NSA NATIONAL STORAGE AFFILIATES 0.0%

Value $382K Shares 8,587 Share Price $44.47 Est. Cost/Share $44.47 Unrealized @ Report Date —

SBRA SABRA HEALTH CARE REIT INC 0.0%

Value $360K Shares 18,454 Share Price $19.51 Est. Cost/Share $18.94 Unrealized @ Report Date —

SKT TANGER INC 0.0%

Value $307K Shares 7,767 Share Price $39.47 Est. Cost/Share $33.98 Unrealized @ Report Date —

CRWD CROWDSTRIKE HLDGS INC 0.0%

Value $281K Shares 368 Share Price $763.14 * Est. Cost/Share $568.28 Unrealized @ Report Date -53.4%

AMPX AMPRIUS TECHNOLOGIES INC 0.0%

Value $276K Shares 19,941 Share Price $13.86 * Est. Cost/Share $17.91 Unrealized @ Report Date -46.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BSX	BOSTON SCIENTIFIC CORP	152,865	$6.524M	0.8%	$42.68 *	$65.52	-33.4%	—	101137107
VST	VISTRA CORP	19,632	$3.114M	0.4%	$158.63 *	$155.14	-10.8%	—	92840M102
GLPI	GAMING & LEISURE P	61,509	$2.739M	0.3%	$44.53	$46.38	—	—	36467J108
MSCI	MSCI INC	4,549	$2.548M	0.3%	$560.04 *	$547.03	-1.5%	—	55354G100
TSLA	TESLA INC	5,800	$2.439M	0.3%	$420.60 *	$397.72	-10.8%	—	88160R101
AVB	AVALONBAY CMNTYS INC	12,839	$2.423M	0.3%	$188.69	$184.41	—	—	053484101
BAP	CREDICORP LTD	5,586	$2.176M	0.3%	$389.58 *	$341.87	+11.1%	—	G2519Y108
DOC	HEALTHPEAK PROPERTIES INC	74,328	$1.591M	0.2%	$21.40	$19.81	—	—	42250P103
OHI	OMEGA HEALTHCARE INVS INC	21,884	$1.043M	0.1%	$47.68	$47.68	—	—	681936100
SUI	SUN CMNTYS INC	8,598	$1.031M	0.1%	$119.91	$119.91	—	—	866674104
BXP	BXP INC	9,486	$629K	0.1%	$66.31	$66.46	—	—	101121101
IVT	INVENTRUST PPTYS CORP	17,278	$612K	0.1%	$35.40	$28.43	—	—	46124J201
COLD	AMERICOLD REALTY TRUST INC	33,021	$519K	0.1%	$15.72	$15.72	—	—	03064D108
KIM	KIMCO REALTY CORP	17,656	$448K	0.1%	$25.35	$20.06	—	—	49446R109
NSA	NATIONAL STORAGE AFFILIATES	8,587	$382K	0.0%	$44.47	$44.47	—	—	637870106
SBRA	SABRA HEALTH CARE REIT INC	18,454	$360K	0.0%	$19.51	$18.94	—	—	78573L106
SKT	TANGER INC	7,767	$307K	0.0%	$39.47	$33.98	—	—	875465106
CRWD	CROWDSTRIKE HLDGS INC	368	$281K	0.0%	$763.14 *	$568.28	-53.4%	—	22788C105
AMPX	AMPRIUS TECHNOLOGIES INC	19,941	$276K	0.0%	$13.86 *	$17.91	-46.0%	—	03214Q108

Decreased Positions (14)

HPP HUDSON PACIFIC PROPERTIES IN 0.1%

Value $547K (-86.7%) Shares 47,374 (-82.5%) Share Price $11.54 Est. Cost/Share $14.50 Unrealized @ Report Date —

SPG SIMON PPTY GROUP INC NEW 0.6%

Value $4.769M (-26.0%) Shares 23,757 (-17.5%) Share Price $200.76 Est. Cost/Share $130.30 Unrealized @ Report Date —

WELL WELLTOWER INC 1.2%

Value $10.28M (-13.8%) Shares 44,641 (-15.0%) Share Price $230.24 Est. Cost/Share $131.42 Unrealized @ Report Date —

ARE ALEXANDRIA REAL ESTATE EQ IN 0.1%

Value $550K (-73.4%) Shares 11,584 (-70.4%) Share Price $47.46 Est. Cost/Share $69.34 Unrealized @ Report Date —

AAPL APPLE INC 1.2%

Value $9.881M (+13.1%) Shares 29,670 (-1.7%) Share Price $333.02 Est. Cost/Share $286.04 Unrealized @ Report Date +16.4%

AMT AMERICAN TOWER CORP 0.7%

Value $5.909M (-15.0%) Shares 36,097 (-15.1%) Share Price $163.69 Est. Cost/Share $192.69 Unrealized @ Report Date —

PSA PUBLIC STORAGE 0.3%

Value $2.471M (-27.9%) Shares 8,738 (-18.9%) Share Price $282.84 Est. Cost/Share $288.55 Unrealized @ Report Date —

MAC MACERICH CO 0.1%

Value $743K (-53.5%) Shares 33,208 (-47.6%) Share Price $22.36 Est. Cost/Share $16.46 Unrealized @ Report Date —

MCO MOODYS CORP 0.5%

Value $4.312M (-14.7%) Shares 9,496 (-15.0%) Share Price $454.13 Est. Cost/Share $466.04 Unrealized @ Report Date -2.6%

EPRT ESSENTIAL PPTYS RLTY TR INC 0.0%

Value $409K (-62.0%) Shares 15,851 (-56.0%) Share Price $25.81 Est. Cost/Share $29.30 Unrealized @ Report Date —

GOOGL ALPHABET INC 0.9%

Value $7.322M (-5.4%) Shares 21,280 (-1.8%) Share Price $344.08 Est. Cost/Share $359.96 Unrealized @ Report Date -4.4%

CCI CROWN CASTLE INC 0.1%

Value $1.1M (-25.2%) Shares 16,508 (-15.0%) Share Price $66.65 Est. Cost/Share $92.96 Unrealized @ Report Date —

TRNO TERRENO RLTY CORP 0.1%

Value $464K (-38.7%) Shares 7,181 (-38.5%) Share Price $64.55 Est. Cost/Share $60.39 Unrealized @ Report Date —

SMA SMARTSTOP SELF STORAG REIT I 0.1%

Value $1.105M (-4.5%) Shares 34,304 (-3.6%) Share Price $32.20 Est. Cost/Share $32.50 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
HPP	HUDSON PACIFIC PROPERTIES IN	47,374 (-82.5%)	$547K (-86.7%)	0.1%	$11.54	$14.50	—	COM	444097406
SPG	SIMON PPTY GROUP INC NEW	23,757 (-17.5%)	$4.769M (-26.0%)	0.6%	$200.76	$130.30	—	COM	828806109
WELL	WELLTOWER INC	44,641 (-15.0%)	$10.28M (-13.8%)	1.2%	$230.24	$131.42	—	COM	95040Q104
ARE	ALEXANDRIA REAL ESTATE EQ IN	11,584 (-70.4%)	$550K (-73.4%)	0.1%	$47.46	$69.34	—	COM	015271109
AAPL	APPLE INC	29,670 (-1.7%)	$9.881M (+13.1%)	1.2%	$333.02	$286.04	+16.4%	COM	037833100
AMT	AMERICAN TOWER CORP	36,097 (-15.1%)	$5.909M (-15.0%)	0.7%	$163.69	$192.69	—	COM	03027X100
PSA	PUBLIC STORAGE	8,738 (-18.9%)	$2.471M (-27.9%)	0.3%	$282.84	$288.55	—	COM	74460D109
MAC	MACERICH CO	33,208 (-47.6%)	$743K (-53.5%)	0.1%	$22.36	$16.46	—	COM	554382101
MCO	MOODYS CORP	9,496 (-15.0%)	$4.312M (-14.7%)	0.5%	$454.13	$466.04	-2.6%	COM	615369105
EPRT	ESSENTIAL PPTYS RLTY TR INC	15,851 (-56.0%)	$409K (-62.0%)	0.0%	$25.81	$29.30	—	COM	29670E107
GOOGL	ALPHABET INC	21,280 (-1.8%)	$7.322M (-5.4%)	0.9%	$344.08	$359.96	-4.4%	CAP STK CL A	02079K305
CCI	CROWN CASTLE INC	16,508 (-15.0%)	$1.1M (-25.2%)	0.1%	$66.65	$92.96	—	COM	22822V101
TRNO	TERRENO RLTY CORP	7,181 (-38.5%)	$464K (-38.7%)	0.1%	$64.55	$60.39	—	COM	88146M101
SMA	SMARTSTOP SELF STORAG REIT I	34,304 (-3.6%)	$1.105M (-4.5%)	0.1%	$32.20	$32.50	—	COMMON STOCK	83192D402

Unchanged Positions (12)

XOP SPDR SERIES TRUST 16.0%

Value $131M Shares 733,095 Share Price $179.33 Est. Cost/Share $123.68 Unrealized @ Report Date +45.0%

GDX VANECK ETF TRUST 11.0%

Value $90.45M Shares 1,030,200 Share Price $87.80 Est. Cost/Share $55.24 Unrealized @ Report Date +58.9%

XLRE SELECT SECTOR SPDR TR 10.2%

Value $83.73M Shares 2,046,637 Share Price $40.91 Est. Cost/Share $43.97 Unrealized @ Report Date -7.0%

XME SPDR SERIES TRUST 13.3%

Value $110M Shares 1,057,838 Share Price $103.56 Est. Cost/Share $55.66 Unrealized @ Report Date +86.0%

GDXJ VANECK ETF TRUST 2.3%

Value $19.29M Shares 169,290 Share Price $113.95 Est. Cost/Share $77.35 Unrealized @ Report Date +47.3%

RSP INVESCO EXCHANGE TRADED FD T 11.1%

Value $91.26M Shares 438,695 Share Price $208.02 Est. Cost/Share $160.58 Unrealized @ Report Date +29.5%

XLI SELECT SECTOR SPDR TR 1.2%

Value $9.838M Shares 58,915 Share Price $166.98 Est. Cost/Share $173.78 Unrealized @ Report Date -3.9%

VOYG VOYAGER TECHNOLOGIES INC 0.5%

Value $4.142M Shares 136,925 Share Price $30.25 Est. Cost/Share $27.13 Unrealized @ Report Date +11.5%

INVH INVITATION HOMES INC 0.2%

Value $1.746M Shares 66,312 Share Price $26.33 Est. Cost/Share $30.96 Unrealized @ Report Date —

KSA ISHARES TR 0.7%

Value $5.764M Shares 158,712 Share Price $36.32 Est. Cost/Share $29.26 Unrealized @ Report Date +24.1%

MPT MEDICAL PROPERTIES TRUST INC 0.0%

Value $140K Shares 40,582 Share Price $3.46 Est. Cost/Share $4.62 Unrealized @ Report Date —

CUBE CUBESMART 0.1%

Value $582K Shares 15,481 Share Price $37.58 Est. Cost/Share $36.25 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOP	SPDR SERIES TRUST	733,095	$131M	16.0%	$179.33	$123.68	+45.0%	SP O&G EXPL PRO	78468R556
GDX	VANECK ETF TRUST	1,030,200	$90.45M	11.0%	$87.80	$55.24	+58.9%	GOLD MINERS ETF	92189F106
XLRE	SELECT SECTOR SPDR TR	2,046,637	$83.73M	10.2%	$40.91	$43.97	-7.0%	ST STR REAL ETF	81369Y860
XME	SPDR SERIES TRUST	1,057,838	$110M	13.3%	$103.56	$55.66	+86.0%	ST STR SP METAL	78464A755
GDXJ	VANECK ETF TRUST	169,290	$19.29M	2.3%	$113.95	$77.35	+47.3%	JUNIOR GOLD MINE	92189F791
RSP	INVESCO EXCHANGE TRADED FD T	438,695	$91.26M	11.1%	$208.02	$160.58	+29.5%	S&P500 EQL WGT	46137V357
XLI	SELECT SECTOR SPDR TR	58,915	$9.838M	1.2%	$166.98	$173.78	-3.9%	ST STR INDL ETF	81369Y704
VOYG	VOYAGER TECHNOLOGIES INC	136,925	$4.142M	0.5%	$30.25	$27.13	+11.5%	COM CL A	92892B103
INVH	INVITATION HOMES INC	66,312	$1.746M	0.2%	$26.33	$30.96	—	COM	46187W107
KSA	ISHARES TR	158,712	$5.764M	0.7%	$36.32	$29.26	+24.1%	MSCI SAUDI ARBIA	46434V423
MPT	MEDICAL PROPERTIES TRUST INC	40,582	$140K	0.0%	$3.46	$4.62	—	COM	58463J304
CUBE	CUBESMART	15,481	$582K	0.1%	$37.58	$36.25	—	COM	229663109