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 |
| ||||||||||||||||||||
| 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 |
| ALEXANDRIA REAL ESTA | PFD CONV SER D | 015271505 | 6,836 | 180,472 | SH | SOLE | 0 | 0 | 180,472 | ||
| EPR PPTYS | PFD C CNV 5.75% | 26884U208 | 21,766 | 692,081 | SH | SOLE | 0 | 0 | 692,081 | ||
| PREFERRED APT CMNTYS | COM | 74039L103 | 3,729 | 251,618 | SH | SOLE | 251,618 | 0 | 0 | ||
| SUN CMNTYS INC | COM | 866674104 | 8,761 | 73,921 | SH | SOLE | 73,921 | 0 | 0 | ||
| RLJ LODGING TR | CUM CONV PFD A | 74965L200 | 3,884 | 154,369 | SH | SOLE | 0 | 0 | 154,369 | ||
| FIRST INDUSTRIAL REA | COM | 32054K103 | 3,210 | 90,770 | SH | SOLE | 90,770 | 0 | 0 | ||
| BRAEMAR HOTELS & RES | 5.5 CUM CV PFD B | 10482B200 | 5,883 | 296,476 | SH | SOLE | 0 | 0 | 296,476 | ||
| DIGITAL RLTY TR INC | COM | 253868103 | 8,358 | 70,234 | SH | SOLE | 70,234 | 0 | 0 | ||
| EPR PPTYS | CONV PFD 9% SR E | 26884U307 | 4,802 | 126,742 | SH | SOLE | 0 | 0 | 126,742 | ||
| QTS RLTY TR INC | 6.50% CON PFD B | 74736A301 | 9,541 | 87,836 | SH | SOLE | 0 | 0 | 87,836 | ||
| TPG RE FIN TR INC | COM | 87266M107 | 8,067 | 411,586 | SH | SOLE | 411,586 | 0 | 0 | ||
| CROWN CASTLE INTL CO | 6.875% CON PFD A | 22822V309 | 8,627 | 7,281 | SH | SOLE | 0 | 0 | 7,281 | ||
| LEXINGTON REALTY TRU | PFD CONV SER C | 529043309 | 3,007 | 56,093 | SH | SOLE | 0 | 0 | 56,093 | ||
| GLOBAL NET LEASE INC | COM NEW | 379378201 | 1,582 | 83,701 | SH | SOLE | 83,701 | 0 | 0 | ||
| ISHARES TR | PFD AND INCM SEC | 464288687 | 13,619 | 372,623 | SH | SOLE | 0 | 0 | 372,623 | ||
| URSTADT BIDDLE PPTYS | PFD-G CV 6.75% | 917286809 | 516 | 20,000 | SH | SOLE | 0 | 0 | 20,000 | ||
| BLACKSTONE MTG TR IN | COM CL A | 09257W100 | 3,591 | 103,900 | SH | SOLE | 103,900 | 0 | 0 | ||
| NEW YORK CMNTY CAP T | UNIT 11/01/2051 | 64944P307 | 462 | 9,577 | SH | SOLE | 0 | 0 | 9,577 | ||
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 | 2,232 | 1,716 | SH | SOLE | 0 | 0 | 1,716 | ||
| BANK AMER CORP | 7.25%CNV PFD L | 060505682 | 2,242 | 1,720 | SH | SOLE | 0 | 0 | 1,720 | ||
| VIRTUS INVT PARTNERS | PFD CV SER D | 92828Q208 | 637 | 7,326 | SH | SOLE | 0 | 0 | 7,326 | ||
| EL PASO ENERGY CAP T | PFD CV TR SECS | 283678209 | 286 | 5,335 | SH | SOLE | 0 | 0 | 5,335 | ||
| RAYONIER ADVANCED MA | PFD CV SER A | 75508B203 | 633 | 6,400 | SH | SOLE | 0 | 0 | 6,400 | ||
| READY CAP CORP | 7% CN SR NT 2023 | 75574U200 | 528 | 20,167 | SH | SOLE | 0 | 0 | 20,167 | ||
| CHESAPEAKE ENERGY CO | PFD CONV | 165167842 | 232 | 4,218 | SH | SOLE | 0 | 0 | 4,218 | ||
| CAPITALA FIN CORP | 5.75% NT CV 22 | 14054R403 | 443 | 17,786 | SH | SOLE | 0 | 0 | 17,786 | ||