The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | COLUMN 7 | COLUMN 8 | ||||
| VALUE | SHRS OR | SH/ | PUT/ | INVESTMENT | OTHER | VOTING AUTHORITY | |||||
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| Acadia Realty Trust | COM | 004239109 | 2,469,249 | 102,204 | SH | SOLE | 0 | 0 | 102,204 | ||
| AES Corporation | COM | 00130H105 | 84,973,235 | 6,602,427 | SH | DFND | 1 | 5,549,163 | 0 | 1,053,264 | |
| Agree Realty Corp | COM | 008492100 | 29,114,872 | 413,270 | SH | DFND | 1 | 301,007 | 0 | 112,263 | |
| Alexandria Real Estate Equitie | COM | 015271109 | 18,471,093 | 189,350 | SH | SOLE | 178,107 | 0 | 11,243 | ||
| Ameren Corp. | COM | 023608102 | 307,533 | 3,450 | SH | DFND | 1 | 3,450 | 0 | 0 | |
| American Electric Power Co. In | COM | 025537101 | 3,008,543 | 32,620 | SH | SOLE | 0 | 0 | 32,620 | ||
| American Healthcare REIT | COM | 398182303 | 33,837,818 | 1,190,634 | SH | DFND | 1 | 843,787 | 0 | 346,847 | |
| American Homes 4 Rent | COM | 02665T306 | 14,901,954 | 398,235 | SH | SOLE | 0 | 0 | 398,235 | ||
| American Tower Corp. | COM | 03027X100 | 141,174,345 | 769,720 | SH | DFND | 1 | 648,145 | 0 | 121,575 | |
| American Water Works Co. | COM | 030420103 | 588,215 | 4,725 | SH | SOLE | 0 | 0 | 4,725 | ||
| Americold Realty Trust | COM | 03064D108 | 51,951,261 | 2,427,629 | SH | DFND | 1 | 1,936,384 | 0 | 491,245 | |
| Atmos Energy Corp. | COM | 049560105 | 64,355,831 | 462,094 | SH | DFND | 1 | 425,484 | 0 | 36,610 | |
| AvalonBay Communities Inc. | COM | 053484101 | 85,270,271 | 387,645 | SH | SOLE | 239,046 | 0 | 148,599 | ||
| Boston Properties Inc. | COM | 101121101 | 12,678,677 | 170,504 | SH | SOLE | 0 | 0 | 170,504 | ||
| Brixmor Property Group | COM | 11120U105 | 84,645,877 | 3,040,441 | SH | DFND | 1 | 2,359,864 | 0 | 680,577 | |
| Broadstone Net Lease Inc | COM | 11135E203 | 10,351,981 | 652,710 | SH | SOLE | 652,710 | 0 | 0 | ||
| Brookfield Infrastructure Part | COM | G16252101 | 22,597,190 | 710,827 | SH | DFND | 1 | 710,827 | 0 | 0 | |
| California Water Service Group | COM | 130788102 | 29,392,244 | 648,406 | SH | DFND | 1 | 475,852 | 0 | 172,554 | |
| Camden Property Trust | COM | 133131102 | 43,602,378 | 375,753 | SH | DFND | 1 | 181,170 | 0 | 194,583 | |
| CenterPoint Energy Inc. | COM | 15189T107 | 1,078,566 | 33,992 | SH | DFND | 1 | 3,565 | 0 | 30,427 | |
| Centerspace | COM | 15202L107 | 1,477,063 | 22,329 | SH | SOLE | 0 | 0 | 22,329 | ||
| Chesapeake Utilities Corporati | COM | 165303108 | 362,108 | 2,984 | SH | DFND | 1 | 2,984 | 0 | 0 | |
| Clearway Energy Inc. Class C | COM | 18539C204 | 15,435,056 | 593,656 | SH | DFND | 1 | 593,656 | 0 | 0 | |
| CMS Energy Corporation | COM | 125896100 | 94,263,828 | 1,414,311 | SH | DFND | 1 | 1,101,762 | 0 | 312,549 | |
| Consolidated Edison Inc. | COM | 209115104 | 37,147,074 | 416,307 | SH | DFND | 1 | 302,523 | 0 | 113,784 | |
| Constellation Energy Corp | COM | 21037T109 | 49,072,578 | 219,358 | SH | DFND | 1 | 170,471 | 0 | 48,887 | |
| COPT Defense Properties | COM | 22002T108 | 35,846,507 | 1,158,207 | SH | DFND | 1 | 861,785 | 0 | 296,422 | |
| Cousins Properties Inc. | COM | 222795502 | 10,776,977 | 351,729 | SH | DFND | 1 | 217,059 | 0 | 134,670 | |
| Crown Castle Inc | COM | 22822V101 | 67,425,967 | 742,904 | SH | DFND | 1 | 734,871 | 0 | 8,033 | |
| CSX Corporation | COM | 126408103 | 138,601,715 | 4,295,064 | SH | DFND | 1 | 3,512,497 | 0 | 782,567 | |
| CubeSmart | COM | 229663109 | 144,319,743 | 3,368,022 | SH | DFND | 1 | 2,415,676 | 0 | 952,346 | |
| Diamondrock Hospitality | COM | 252784301 | 14,888,709 | 1,648,805 | SH | DFND | 1 | 1,376,200 | 0 | 272,605 | |
| Digital Realty Trust Inc. | COM | 253868103 | 34,320,980 | 193,543 | SH | DFND | 1 | 54,273 | 0 | 139,270 | |
| Dominion Energy Inc. | COM | 25746U109 | 19,900,947 | 369,494 | SH | DFND | 1 | 369,494 | 0 | 0 | |
| DTE Energy Co. | COM | 233331107 | 459,212 | 3,803 | SH | DFND | 1 | 3,803 | 0 | 0 | |
| Eastgroup Properties | COM | 277276101 | 8,606,276 | 53,625 | SH | SOLE | 0 | 0 | 53,625 | ||
| ELME Communities | COM | 939653101 | 17,119,014 | 1,121,088 | SH | DFND | 1 | 554,898 | 0 | 566,190 | |
| Empire State Realty Trust Inc. | COM | 292104106 | 20,054,423 | 1,943,258 | SH | DFND | 1 | 1,471,870 | 0 | 471,388 | |
| Enterprise Products Partners L | COM | 293792107 | 22,946,488 | 731,712 | SH | DFND | 1 | 731,712 | 0 | 0 | |
| Equinix Inc | COM | 29444U700 | 436,478,867 | 462,916 | SH | DFND | 1 | 366,187 | 0 | 96,729 | |
| Equity Lifestyle Properties | COM | 29472R108 | 41,391,167 | 621,489 | SH | DFND | 1 | 526,844 | 0 | 94,645 | |
| Equity Residential | COM | 29476L107 | 53,636,151 | 747,438 | SH | DFND | 1 | 376,921 | 0 | 370,517 | |
| Essential Utilities | COM | 29670G102 | 74,202,160 | 2,043,011 | SH | DFND | 1 | 1,725,509 | 0 | 317,502 | |
| Essex Property Trust Inc. | COM | 297178105 | 39,939,907 | 139,924 | SH | SOLE | 76,610 | 0 | 63,314 | ||
| Evergy Inc. | COM | 30034W106 | 74,341,813 | 1,207,828 | SH | DFND | 1 | 1,149,647 | 0 | 58,181 | |
| Eversource Energy | COM | 30040W108 | 921,349 | 16,043 | SH | SOLE | 0 | 0 | 16,043 | ||
| Exelon Corp. | COM | 30161N101 | 2,090,187 | 55,531 | SH | SOLE | 0 | 0 | 55,531 | ||
| Extra Space Storage Inc. | COM | 30225T102 | 163,027,049 | 1,089,753 | SH | DFND | 1 | 767,685 | 0 | 322,068 | |
| Federal Realty Investment Trus | COM | 313745101 | 90,897,243 | 811,945 | SH | DFND | 1 | 437,786 | 0 | 374,159 | |
| First Industrial Realty Trust | COM | 32054K103 | 21,568,182 | 430,245 | SH | DFND | 1 | 114,947 | 0 | 315,298 | |
| Four Corners Property Trust | COM | 35086T109 | 22,341,675 | 823,201 | SH | DFND | 1 | 575,413 | 0 | 247,788 | |
| FRONTVIEW REIT INC | COM | 35922N100 | 12,626,022 | 696,416 | SH | DFND | 1 | 559,085 | 0 | 137,331 | |
| Gaming and Leisure Properties | COM | 36467J108 | 1,049,695 | 21,796 | SH | SOLE | 0 | 0 | 21,796 | ||
| Getty Realty Corp. | COM | 374297109 | 20,525,490 | 681,231 | SH | DFND | 1 | 531,873 | 0 | 149,358 | |
| Healthcare Realty Trust Inc | COM | 42226K105 | 32,881,322 | 1,939,901 | SH | SOLE | 1,698,295 | 0 | 241,606 | ||
| Healthpeak Properties Inc. | COM | 42250P103 | 96,845,378 | 4,777,769 | SH | DFND | 1 | 3,361,181 | 0 | 1,416,588 | |
| Highwoods Properties Inc. | COM | 431284108 | 16,577,632 | 542,107 | SH | SOLE | 434,805 | 0 | 107,302 | ||
| Hilton Worldwide Holdings Inc. | COM | 43300A203 | 6,307,523 | 25,520 | SH | SOLE | 19,278 | 0 | 6,242 | ||
| Host Hotels & Resorts Inc. | COM | 44107P104 | 52,770,030 | 3,011,988 | SH | DFND | 1 | 2,117,838 | 0 | 894,150 | |
| Hudson Pacific Properties | COM | 444097109 | 1,377,532 | 454,631 | SH | SOLE | 454,631 | 0 | 0 | ||
| Independence Realty Trust Inc | COM | 45378A106 | 20,143,393 | 1,015,292 | SH | DFND | 1 | 663,876 | 0 | 351,416 | |
| Invitation Homes Inc | COM | 46187W107 | 178,941,749 | 5,597,177 | SH | DFND | 1 | 3,724,713 | 0 | 1,872,464 | |
| Iron Mountain Incorporated | COM | 46284V101 | 56,867,453 | 541,028 | SH | DFND | 1 | 403,521 | 0 | 137,507 | |
| Kilroy Realty Corp. | COM | 49427F108 | 6,548,410 | 161,889 | SH | SOLE | 0 | 0 | 161,889 | ||
| Kinder Morgan Inc. | COM | 49456B101 | 209,747 | 7,655 | SH | DFND | 1 | 7,655 | 0 | 0 | |
| Kite Realty Group Trust | COM | 49803T300 | 6,548,644 | 259,455 | SH | DFND | 1 | 145,185 | 0 | 114,270 | |
| LINEAGE INC | COM | 53566V106 | 35,306,172 | 602,803 | SH | DFND | 1 | 534,565 | 0 | 68,238 | |
| Marriott International Inc. | COM | 571903202 | 30,389,676 | 108,947 | SH | DFND | 1 | 91,501 | 0 | 17,446 | |
| Medical Properties Trust | COM | 58463J304 | 2,251,895 | 570,100 | SH | DFND | 1 | 570,100 | 0 | 0 | |
| Mid-America Apt. Comm. | COM | 59522J103 | 6,055,434 | 39,176 | SH | SOLE | 0 | 0 | 39,176 | ||
| National Storage Affiliates Tr | COM | 637870106 | 11,982,138 | 316,068 | SH | SOLE | 316,068 | 0 | 0 | ||
| Netstreit Corp | COM | 64119V303 | 9,474,628 | 669,585 | SH | DFND | 1 | 516,385 | 0 | 153,200 | |
| Nextera Energy Inc | COM | 65339F101 | 30,529,688 | 425,857 | SH | DFND | 1 | 218,401 | 0 | 207,456 | |
| NextEra Energy Partners LP | COM | 65341B106 | 14,148,366 | 794,852 | SH | DFND | 1 | 794,852 | 0 | 0 | |
| NiSource Inc. | COM | 65473P105 | 49,739,735 | 1,353,094 | SH | DFND | 1 | 820,899 | 0 | 532,195 | |
| NNN REIT Inc. | COM | 637417106 | 5,692,325 | 139,347 | SH | SOLE | 105,952 | 0 | 33,395 | ||
| Norfolk Southern Corp | COM | 655844108 | 75,620,809 | 322,202 | SH | DFND | 1 | 242,290 | 0 | 79,912 | |
| OGE Energy Corp. | COM | 670837103 | 26,507,333 | 642,602 | SH | DFND | 1 | 590,914 | 0 | 51,688 | |
| ONEOK Inc. | COM | 682680103 | 34,360,294 | 342,234 | SH | DFND | 1 | 338,663 | 0 | 3,571 | |
| Park Hotels & Resorts Inc | COM | 700517105 | 11,265,272 | 800,659 | SH | SOLE | 800,659 | 0 | 0 | ||
| Pebblebrook Hotel Trust | COM | 70509V100 | 13,788,046 | 1,017,568 | SH | DFND | 1 | 695,559 | 0 | 322,009 | |
| PG&E Corp. | COM | 69331C108 | 126,935,166 | 6,290,147 | SH | DFND | 1 | 5,214,006 | 0 | 1,076,141 | |
| Piedmont Office Realty Trust I | COM | 720190206 | 7,558,476 | 826,063 | SH | SOLE | 746,899 | 0 | 79,164 | ||
| Plains GP Holdings | COM | 72651A207 | 17,277,237 | 940,002 | SH | DFND | 1 | 940,002 | 0 | 0 | |
| Portland General Electric Comp | COM | 736508847 | 50,377,349 | 1,154,914 | SH | DFND | 1 | 956,083 | 0 | 198,831 | |
| PPL Corp. | COM | 69351T106 | 64,842,421 | 1,997,610 | SH | DFND | 1 | 1,868,153 | 0 | 129,457 | |
| ProLogis Inc. | COM | 74340W103 | 136,086,213 | 1,287,476 | SH | DFND | 1 | 523,728 | 0 | 763,748 | |
| Public Storage | COM | 74460D109 | 78,917,113 | 263,549 | SH | SOLE | 116,810 | 0 | 146,739 | ||
| Realty Income Corp | COM | 756109104 | 277,627,530 | 5,198,044 | SH | DFND | 1 | 3,852,641 | 0 | 1,345,403 | |
| Regency Centers Corporation | COM | 758849103 | 114,037,543 | 1,542,507 | SH | DFND | 1 | 852,374 | 0 | 690,133 | |
| Retail Opportunity Investments | COM | 76131N101 | 10,091,368 | 581,300 | SH | SOLE | 581,300 | 0 | 0 | ||
| Rexford Industrial Realty, Inc | COM | 76169C100 | 130,192,189 | 3,367,620 | SH | DFND | 1 | 2,246,972 | 0 | 1,120,648 | |
| SBA Communications Corp. | COM | 78410G104 | 21,663,940 | 106,300 | SH | DFND | 1 | 102,089 | 0 | 4,211 | |
| Sempra Energy | COM | 816851109 | 53,463,322 | 609,477 | SH | DFND | 1 | 487,059 | 0 | 122,418 | |
| Simon Property Group Inc. | COM | 828806109 | 272,800,616 | 1,584,116 | SH | DFND | 1 | 1,206,137 | 0 | 377,979 | |
| STAG Industrial, Inc. | COM | 85254J102 | 26,001,391 | 768,817 | SH | SOLE | 0 | 0 | 768,817 | ||
| Sun Communities Inc. | COM | 866674104 | 100,111,107 | 814,110 | SH | DFND | 1 | 666,719 | 0 | 147,391 | |
| Sunstone Hotel Investors Inc. | COM | 867892101 | 55,488,030 | 4,686,489 | SH | DFND | 1 | 3,891,491 | 0 | 794,998 | |
| Tanger Inc. | COM | 875465106 | 243,688 | 7,140 | SH | SOLE | 0 | 0 | 7,140 | ||
| Targa Resources Corp. | COM | 87612G101 | 81,786,558 | 458,188 | SH | DFND | 1 | 453,891 | 0 | 4,297 | |
| UDR Inc. | COM | 902653104 | 51,927,823 | 1,196,218 | SH | DFND | 1 | 621,487 | 0 | 574,731 | |
| Uniti Group Inc | COM | 91325V108 | 7,561,400 | 1,374,800 | SH | DFND | 1 | 1,374,800 | 0 | 0 | |
| Urban Edge Properties | COM | 91704F104 | 9,620,971 | 447,487 | SH | DFND | 1 | 289,872 | 0 | 157,615 | |
| Ventas Inc. | COM | 92276F100 | 17,661,523 | 299,907 | SH | SOLE | 40,445 | 0 | 259,462 | ||
| Veris Residential Inc | COM | 554489104 | 16,218,607 | 975,262 | SH | DFND | 1 | 576,357 | 0 | 398,905 | |
| Vici Properties Inc. | COM | 925652109 | 48,250,655 | 1,651,854 | SH | DFND | 1 | 1,451,862 | 0 | 199,992 | |
| Vornado Realty Trust | COM | 929042109 | 19,841,030 | 471,956 | SH | DFND | 1 | 264,541 | 0 | 207,415 | |
| WEC Energy Group Inc. | COM | 92939U106 | 125,270,496 | 1,332,098 | SH | DFND | 1 | 1,022,760 | 0 | 309,338 | |
| Welltower Inc. | COM | 95040Q104 | 244,114,313 | 1,936,954 | SH | DFND | 1 | 1,094,013 | 0 | 842,941 | |
| Weyerhaeuser Co. | COM | 962166104 | 3,064,606 | 108,867 | SH | DFND | 1 | 108,867 | 0 | 0 | |
| Williams Cos. | COM | 969457100 | 17,153,118 | 316,946 | SH | DFND | 1 | 313,610 | 0 | 3,336 | |
| Xcel Energy Inc. | COM | 98389B100 | 73,766,883 | 1,092,519 | SH | DFND | 1 | 785,891 | 0 | 306,628 | |
| Nextera Energy Inc | UNIT | 65339F713 | 30,170,316 | 737,300 | SH | DFND | 1 | 737,300 | 0 | 0 | |
