| Stock | Company | % Portfolio | Shares Held | Market Value | Change in Shares | % Change | Quarter End Price | Source |
|---|---|---|---|---|---|---|---|---|
| CPT | CAMDEN PPTY TR | 15.05% | 1,945,698 | $207,761,632 | 922,956 | 90.24% | $106.78 | 13F |
| IRT | INDEPENDENCE RLTY TR INC | 14.6% | 12,301,684 | $201,624,601 | 6,801,182 | 123.65% | $16.39 | 13F |
| JHX | JAMES HARDIE INDS PLC | 10.09% | 7,247,811 | $139,230,449 | 7,247,811 | New | $19.21 | 13F |
| NSA | NATIONAL STORAGE AFFILIATES | 8.42% | 3,846,289 | $116,234,854 | 1,347,500 | 53.93% | $30.22 | 13F |
| COLD | AMERICOLD REALTY TRUST INC | 6.88% | 7,756,293 | $94,937,026 | 7,756,293 | New | $12.24 | 13F |
| TMHC | TAYLOR MORRISON HOME CORP | 6.6% | 1,379,577 | $91,065,878 | -182,009 | -11.66% | $66.01 | 13F |
| JBGS | JBG SMITH PPTYS | 5.2% | 3,228,894 | $71,842,892 | -605,139 | -15.78% | $22.25 | 13F |
| TRTX | TPG RE FIN TR INC | 4.28% | 6,898,626 | $59,052,239 | -405,000 | -5.55% | $8.56 | 13F |
| AMH | AMERICAN HOMES 4 RENT | 3.77% | 1,563,780 | $51,995,685 | 1,563,780 | New | $33.25 | 13F |
| INN | SUMMIT HOTEL PPTYS INC | 3.74% | 9,400,000 | $51,606,000 | No Change | $5.49 | 13F | |
| H | HYATT HOTELS CORP | 3.27% | 317,589 | $45,075,407 | -603,633 | -65.53% | $141.93 | 13F |
| LXP | LXP INDUSTRIAL TRUST | 2.47% | 3,800,000 | $34,048,000 | 3,650,000 | 2433.33% | $8.96 | 13F |
| MHO | M/I HOMES INC | 2.38% | 227,597 | $32,874,111 | 105,457 | 86.34% | $144.44 | 13F |
| HGV | HILTON GRAND VACATIONS INC | 1.96% | 648,021 | $27,093,758 | -662,705 | -50.56% | $41.81 | 13F |
| CZR | CAESARS ENTERTAINMENT INC NE | 1.88% | 959,175 | $25,921,704 | 868,402 | 956.67% | $27.02 | 13F |
| ELS | EQUITY LIFESTYLE PPTYS INC | 1.56% | 354,911 | $21,543,098 | 354,911 | New | $60.7 | 13F |
| KREF | KKR REAL ESTATE FIN TR INC | 1.51% | 2,321,672 | $20,895,048 | 2,321,672 | New | $9 | 13F |
| NXRT | NEXPOINT RESIDENTIAL TR INC | 1.27% | 544,089 | $17,530,548 | 544,089 | New | $32.22 | 13F |
| CSR | CENTERSPACE | 0.91% | 213,463 | $12,572,971 | 213,463 | New | $58.9 | 13F |
| COMP | COMPASS INC | 0.9% | 1,550,000 | $12,446,500 | 1,550,000 | New | $8.03 | 13F |
| PLYM | PLYMOUTH INDL REIT INC | 0.8% | 492,468 | $10,996,810 | 492,468 | New | $22.33 | 13F |
| MAA | MID-AMER APT CMNTYS INC | 0.68% | 67,543 | $9,437,783 | -26,874 | -28.46% | $139.73 | 13F |
| SMRT | SMARTRENT INC | 0.62% | 6,066,093 | $8,553,191 | -4,000,000 | -39.74% | $1.41 | 13F |
| FUN | SIX FLAGS ENTERTAINMENT CORP | 0.48% | 290,000 | $6,588,800 | -3,006,660 | -91.2% | $22.72 | 13F |
| SHO | SUNSTONE HOTEL INVS INC NEW | 0.33% | 485,237 | $4,546,671 | 485,237 | New | $9.37 | 13F |
| MTH | MERITAGE HOMES CORP | 0.24% | 46,500 | $3,367,995 | -231,834 | -83.29% | $72.43 | 13F |
| EQR | EQUITY RESIDENTIAL | 0.09% | 20,037 | $1,296,995 | 20,037 | New | $64.73 | 13F |
| PLD | PROLOGIS INC. | 0.03% | 3,316 | $379,748 | -31,234 | -90.4% | $114.52 | 13F |
| AIV | APARTMENT INVT & MGMT CO | -1,697,757 | Exited | 13F | ||||
| DHI | D R HORTON INC | -744,637 | Exited | 13F | ||||
| DBRG | DIGITALBRIDGE GROUP INC | -1,328,167 | Exited | 13F | ||||
| JLL | JONES LANG LASALLE INC | -200,837 | Exited | 13F | ||||
| KRC | KILROY RLTY CORP | -785,140 | Exited | 13F | ||||
| PGRE | PARAMOUNT GROUP INC | -2,282,871 | Exited | 13F | ||||
| RRR | RED ROCK RESORTS INC | -902,644 | Exited | 13F | ||||
| SPG | SIMON PPTY GROUP INC NEW | -208,500 | Exited | 13F | ||||
| TOL | TOLL BROTHERS INC | -641,844 | Exited | 13F | ||||
| WH | WYNDHAM HOTELS & RESORTS INC | -1,505,781 | Exited | 13F | ||||
| BRSL | INTERNATIONAL GAME TECHNOLOG | -7,566,764 | Exited | 13F | ||||
| BRSL | INTERNATIONAL GAME TECHNOLOG (Call) | -2,000,000 | Exited | 13F |