| SSPDR SERIES TRUSTBIL |
| 38.06% | 70.38% | $345.2M | 3.8M | $645.0M | 7.1M | -3.3M-46.55% | Reduce |
| PPROSHARES TRSH1USD |
| 25.44% | 9.81% | $230.8M | 13.4M | $89.9M | 5.4M | +7.9M+145.18% | Add |
| SSTATE STR SPDR S&P 500 ETF TSPY |
| 23.96% | — | $217.4M | 608,621 | $0 | 0 | +608,621 | New Buy |
| RRLJ LODGING TRU 7.8 PFDCONV SER A |
| 1.17% | 1.22% | $10.6M | 430,155 | $11.2M | 430,155 | 00.00% | Unchanged |
| LLXP INDUSTRIAL TRUST PFD CONV SER C |
| 1.16% | 1.24% | $10.5M | 217,864 | $11.3M | 219,000 | -1,136-0.52% | Reduce |
| RRPT REALTY |
| 1.05% | 1.15% | $9.5M | 217,011 | $10.5M | 220,918 | -3,907-1.77% | Reduce |
| IISHARES TRAOK |
| 0.83% | 0.8% | $7.5M | 230,640 | $7.3M | 210,968 | +19,672+9.32% | Add |
| EEPR PPTYS CONV PFD 9 SR E |
| 0.79% | 0.92% | $7.2M | 280,100 | $8.4M | 280,100 | 00.00% | Unchanged |
 APPLE HOSPITALITY REIT INCAPLE |
| 0.72% | 0.48% | $6.5M | 465,000 | $4.4M | 301,412 | +163,588+54.27% | Add |
| RRETAIL OPPORTUNITY INVTS CORROICUSD |
| 0.69% | 0.61% | $6.2M | 452,270 | $5.6M | 355,270 | +97,000+27.30% | Add |
| PPROLOGIS INC. COMPLD |
| 0.57% | 0.65% | $5.1M | 50,520 | $5.9M | 50,500 | +20+0.04% | Add |
 GAMING &LEISURE PGLPI |
| 0.54% | 0.39% | $4.9M | 111,600 | $3.5M | 77,100 | +34,500+44.75% | Add |
 CUBESMARTCUBE |
| 0.54% | 0.48% | $4.9M | 123,000 | $4.4M | 103,000 | +20,000+19.42% | Add |
| EEQUITY RESIDENTIALVMRK |
| 0.54% | 0.58% | $4.9M | 73,070 | $5.3M | 73,000 | +70+0.10% | Add |
 UDR INC COMUDR |
| 0.51% | 0.65% | $4.6M | 110,035 | $6.0M | 130,035 | -20,000-15.38% | Reduce |
 SUN CMNTYS INC COMSUI |
| 0.48% | 0.29% | $4.3M | 32,000 | $2.7M | 16,800 | +15,200+90.48% | Add |
 AMERICOLD REALTY TRUST INCCOLD |
| 0.46% | 0.51% | $4.2M | 169,340 | $4.6M | 154,340 | +15,000+9.72% | Add |
 AMERICAN TOWER CORP COMAMT |
| 0.41% | 0.57% | $3.7M | 17,424 | $5.2M | 20,424 | -3,000-14.69% | Reduce |
 BXP INCBXP |
| 0.39% | 0.61% | $3.6M | 47,700 | $5.6M | 62,600 | -14,900-23.80% | Reduce |
 FARMLAND PARTNERS INC COMFPI |
| 0.36% | 0.38% | $3.2M | 255,360 | $3.5M | 255,360 | 00.00% | Unchanged |
| PPOTLATCHDELTIC CORPORATION COMPCH |
| 0.28% | 0.41% | $2.6M | 62,850 | $3.7M | 84,550 | -21,700-25.67% | Reduce |
 PHILLIPS EDISON & CO INCPECO |
| 0.25% | — | $2.2M | 80,000 | $0 | 0 | +80,000 | New Buy |
 OUTFRONT MEDIAOUT |
| 0.23% | — | $2.1M | 136,000 | $0 | 0 | +136,000 | New Buy |
 AVALONBAY CMNTYS INC REITAVB |
| 0.09% | — | $810,000 | 4,400 | $0 | 0 | +4,400 | New Buy |
| AALEXANDRIA REAL ESTATE EQ INARE |
| 0.09% | — | $802,000 | 5,720 | $0 | 0 | +5,720 | New Buy |
 FEDERAL RLTY INVT TR NEWFRT |
| 0.08% | — | $723,000 | 8,020 | $0 | 0 | +8,020 | New Buy |
| IISHARES CORE 40/60 MODERATE ALLOCATION ETFAOM |
| 0.07% | — | $673,000 | 18,380 | $0 | 0 | +18,380 | New Buy |
 EQUINIX INCEQIX |
| 0.06% | — | $569,000 | 1,000 | $0 | 0 | +1,000 | New Buy |
| EEPR PPTYS |
| 0.06% | 0.07% | $536,000 | 31,000 | $684,000 | 31,000 | 00.00% | Unchanged |
| NNATIONAL STORAGE AFFILIATESNSA* |
| 0.06% | 0.07% | $501,000 | 12,050 | $603,000 | 12,050 | 00.00% | Unchanged |
 VENTAS INC COMVTR |
| 0.03% | — | $303,000 | 7,540 | $0 | 0 | +7,540 | New Buy |
 DIAMONDROCK HOSPITALITY CODRH |
| 0.03% | 0.14% | $300,000 | 40,000 | $1.3M | 155,679 | -115,679-74.31% | Reduce |
