| 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 |
| American Finance Trust Inc | COM | 02607T109 | 10 | 894 | SH | | DFND | 1 | 894 | 0 | 0 |
| American Homes 4 Rent | COM | 02665T306 | 93,924 | 3,863,579 | SH | | DFND | 1 | 2,331,018 | 0 | 1,532,561 |
| American Tower Corp | COM | 03027X100 | 16,234 | 79,405 | SH | | DFND | 1 | 29,060 | 0 | 50,345 |
| Americold Realty Trust | COM | 03064D108 | 76,775 | 2,368,148 | SH | | DFND | 1 | 1,726,776 | 0 | 641,372 |
| Apartment Investment and Management Co | COM | 03748R754 | 6 | 121 | SH | | DFND | 1 | 121 | 0 | 0 |
| AQUA AMERICA INC | COM | 03836W103 | 32 | 775 | SH | | DFND | 1 | 775 | 0 | 0 |
| Boston Properties | COM | 101121101 | 140,808 | 1,091,536 | SH | | DFND | 1 | 678,035 | 0 | 413,501 |
| Brandywine Realty Trust | COM | 105368203 | 50,178 | 3,504,075 | SH | | DFND | 1 | 2,230,350 | 0 | 1,273,725 |
| Brixmor Property Group Inc | COM | 11120U105 | 72,035 | 4,028,794 | SH | | DFND | 1 | 2,556,328 | 0 | 1,472,466 |
| Camden Property Trust | COM | 133131102 | 147,633 | 1,414,248 | SH | | DFND | 1 | 879,978 | 0 | 534,270 |
| CareTrust REIT Inc | COM | 14174T107 | 220 | 9,257 | SH | | DFND | 1 | 9,257 | 0 | 0 |
| CENTERPOINT ENERGY | COM | 15189T107 | 46 | 1,620 | SH | | DFND | 1 | 1,620 | 0 | 0 |
| CHENIERE ENERGY INC | COM | 16411R208 | 43 | 630 | SH | | DFND | 1 | 630 | 0 | 0 |
| Chesapeake Lodging Trust | COM | 165240102 | 51,680 | 1,818,448 | SH | | DFND | 1 | 1,400,207 | 0 | 418,241 |
| Columbia Property Trust | COM | 198287203 | 79,914 | 3,853,121 | SH | | DFND | 1 | 2,479,870 | 0 | 1,373,251 |
| Coresite Realty Corp | COM | 21870Q105 | 39,175 | 340,152 | SH | | DFND | 1 | 260,741 | 0 | 79,411 |
| CoreCivic Inc | COM | 21871N101 | 5 | 264 | SH | | DFND | 1 | 264 | 0 | 0 |
| Corporate Office Properties Trust | COM | 22002T108 | 722 | 27,370 | SH | | DFND | 1 | 27,370 | 0 | 0 |
| Cousins Properties Inc | COM | 222795502 | 226 | 6,257 | SH | | DFND | 1 | 6,257 | 0 | 0 |
| Crown Castle Intl Corp | COM | 22822V101 | 10,664 | 81,810 | SH | | DFND | 1 | 34,860 | 0 | 46,950 |
| Cubesmart | COM | 229663109 | 155,801 | 4,659,107 | SH | | DFND | 1 | 2,958,787 | 0 | 1,700,320 |
| CyrusOne | COM | 23283R100 | 179,161 | 3,103,971 | SH | | DFND | 1 | 1,956,231 | 0 | 1,147,740 |
| DiamondRock Hospitality Co | COM | 252784301 | 20,266 | 1,960,005 | SH | | DFND | 1 | 1,282,218 | 0 | 677,787 |
| Digital Realty Trust Inc | COM | 253868103 | 35,122 | 298,171 | SH | | DFND | 1 | 167,517 | 0 | 130,654 |
| DOMINION ENERGY INC | COM | 25746U109 | 81 | 1,047 | SH | | DFND | 1 | 1,047 | 0 | 0 |
| Duke Realty Investments Inc | COM | 264411505 | 113,319 | 3,584,914 | SH | | DFND | 1 | 2,377,047 | 0 | 1,207,867 |
| DUKE ENERGY CORP | COM | 26441C204 | 49 | 560 | SH | | DFND | 1 | 560 | 0 | 0 |
| EDISON INTERNATIONAL | COM | 281020107 | 32 | 480 | SH | | DFND | 1 | 480 | 0 | 0 |
| Empire State Realty Trust | COM | 292104106 | 93,406 | 6,306,938 | SH | | DFND | 1 | 4,055,229 | 0 | 2,251,709 |
| ENTERGY CORP | COM | 29364G103 | 101 | 980 | SH | | DFND | 1 | 980 | 0 | 0 |
| ENTERPRISE PRODUCTS PARTNERS | COM | 293792107 | 34 | 1,170 | SH | | DFND | 1 | 1,170 | 0 | 0 |
| Equinix Inc | COM | 29444U700 | 234,322 | 464,658 | SH | | DFND | 1 | 366,566 | 0 | 98,092 |
| Equity Residential Properties Trust | COM | 29476L107 | 286,879 | 3,778,704 | SH | | DFND | 1 | 2,358,414 | 0 | 1,420,290 |
| Essex Property Trust Inc | COM | 297178105 | 55,039 | 188,534 | SH | | DFND | 1 | 117,554 | 0 | 70,980 |
| EVERSOURCE ENERGY | COM | 30040W108 | 83 | 1,090 | SH | | DFND | 1 | 1,090 | 0 | 0 |
| EXELON CORP | COM | 30161N101 | 24 | 510 | SH | | DFND | 1 | 510 | 0 | 0 |
| Extra Space Storage Inc | COM | 30225T102 | 114,285 | 1,077,141 | SH | | DFND | 1 | 680,501 | 0 | 396,640 |
| Federal Realty Investment Trust | COM | 313747206 | 58,795 | 456,628 | SH | | DFND | 1 | 296,552 | 0 | 160,076 |
| First Industrial Realty Trust | COM | 32054K103 | 10,177 | 277,000 | SH | | DFND | 1 | 0 | 0 | 277,000 |
| FIRSTENERGY CORP | COM | 337932107 | 108 | 2,530 | SH | | DFND | 1 | 2,530 | 0 | 0 |
| Franklin Street Properties Corp | COM | 35471R106 | 5 | 666 | SH | | DFND | 1 | 666 | 0 | 0 |
| Geo Group Inc | COM | 36162J106 | 9 | 426 | SH | | DFND | 1 | 426 | 0 | 0 |
| GDS Holdings Ltd - ADR | ADR | 36165L108 | 1,420 | 37,800 | SH | | DFND | 1 | 37,800 | 0 | 0 |
| Gaming and Leisure Properties Inc | COM | 36467J108 | 10 | 260 | SH | | DFND | 1 | 260 | 0 | 0 |
| Global Net Lease Inc | COM | 379378201 | 10 | 527 | SH | | DFND | 1 | 527 | 0 | 0 |
| HCP Inc | COM | 40414L109 | 232,299 | 7,263,897 | SH | | DFND | 1 | 4,551,587 | 0 | 2,712,310 |
| Healthcare Trust of America | COM | 42225P501 | 93,351 | 3,403,236 | SH | | DFND | 1 | 2,175,447 | 0 | 1,227,789 |
| Highwoods Properties Inc | COM | 431284108 | 19,901 | 481,860 | SH | | DFND | 1 | 312,550 | 0 | 169,310 |
| Hospitality Properties Trust | COM | 44106M102 | 11 | 452 | SH | | DFND | 1 | 452 | 0 | 0 |
| Host Hotels & Resorts Inc | COM | 44107P104 | 83,627 | 4,589,849 | SH | | DFND | 1 | 3,199,559 | 0 | 1,390,290 |
| Hudson Pacific Properties | COM | 444097109 | 1,378 | 41,410 | SH | | DFND | 1 | 41,410 | 0 | 0 |
| Industrial Logistics Properties Trust | COM | 456237106 | 17,823 | 856,034 | SH | | DFND | 1 | 612,300 | 0 | 243,734 |
| Invitation Homes Inc | COM | 46187W107 | 155,045 | 5,800,405 | SH | | DFND | 1 | 3,740,704 | 0 | 2,059,701 |
| Iron Mountain Inc | COM | 46284V101 | 102,640 | 3,279,249 | SH | | DFND | 1 | 2,381,690 | 0 | 897,559 |
| JBG Smith Properties | COM | 46590V100 | 47,396 | 1,204,772 | SH | | DFND | 1 | 691,371 | 0 | 513,401 |
| Kilroy Realty Corporation | COM | 49427F108 | 159,830 | 2,165,429 | SH | | DFND | 1 | 1,365,479 | 0 | 799,950 |
| Kite Realty Group Trust | COM | 49803T300 | 7,051 | 466,041 | SH | | DFND | 1 | 320,418 | 0 | 145,623 |
| Lexington Realty Trust | COM | 529043101 | 10 | 1,092 | SH | | DFND | 1 | 1,092 | 0 | 0 |
| Liberty Property Trust | COM | 531172104 | 97,172 | 1,941,880 | SH | | DFND | 1 | 1,212,147 | 0 | 729,733 |
| Life Storage Inc | COM | 53223X107 | 282 | 2,969 | SH | | DFND | 1 | 2,969 | 0 | 0 |
| MGM Growth Properties LLC | COM | 55303A105 | 23,207 | 757,164 | SH | | DFND | 1 | 597,284 | 0 | 159,880 |
| Macerich Company | COM | 554382101 | 72,385 | 2,161,403 | SH | | DFND | 1 | 1,388,588 | 0 | 772,815 |
| Mack Cali Realty Corporation | COM | 554489104 | 63,716 | 2,735,770 | SH | | DFND | 1 | 1,723,276 | 0 | 1,012,494 |
| MACQUARIE INFRASTRUCTURE CORPORATION | COM | 55608B105 | 31 | 770 | SH | | DFND | 1 | 770 | 0 | 0 |
| Mid-America Apartment Communities Inc | COM | 59522J103 | 37,060 | 314,709 | SH | | DFND | 1 | 176,306 | 0 | 138,403 |
| National Retail Properties | COM | 637417106 | 21,503 | 405,640 | SH | | DFND | 1 | 317,820 | 0 | 87,820 |
| NEXTERA ENERGY INC | COM | 65339F101 | 1,022 | 4,990 | SH | | DFND | 1 | 4,990 | 0 | 0 |
| NISOURCE INC | COM | 65473P105 | 46 | 1,610 | SH | | DFND | 1 | 1,610 | 0 | 0 |
| Office Properties Income Trust | COM | 67623C109 | 10 | 368 | SH | | DFND | 1 | 368 | 0 | 0 |
| Omega Healthcare Investors Inc | COM | 681936100 | 14 | 370 | SH | | DFND | 1 | 370 | 0 | 0 |
| ONEOK INC | COM | 682680103 | 17 | 250 | SH | | DFND | 1 | 250 | 0 | 0 |
| P G & E CORP | COM | 69331C108 | 19 | 810 | SH | | DFND | 1 | 810 | 0 | 0 |
| PPL CORPORATION | COM | 69351T106 | 15 | 470 | SH | | DFND | 1 | 470 | 0 | 0 |
| Paramount Group Inc | COM | 69924R108 | 10 | 742 | SH | | DFND | 1 | 742 | 0 | 0 |
| Park Hotels & Resorts Inc | COM | 700517105 | 77,439 | 2,809,825 | SH | | DFND | 1 | 1,963,905 | 0 | 845,920 |
| Pebblebrook Hotel Trust | COM | 70509V100 | 228 | 8,100 | SH | | DFND | 1 | 7,360 | 0 | 740 |
| Prologis Trust | COM | 74340W103 | 397,286 | 4,959,876 | SH | | DFND | 1 | 3,145,776 | 0 | 1,814,100 |
| PUBLIC SERVICE ENTERPRISE GP | COM | 744573106 | 81 | 1,380 | SH | | DFND | 1 | 1,380 | 0 | 0 |
| Public Storage Inc | COM | 74460D109 | 182,395 | 765,818 | SH | | DFND | 1 | 460,268 | 0 | 305,550 |
| QTS Realty Trust | COM | 74736A103 | 454 | 9,826 | SH | | DFND | 1 | 9,826 | 0 | 0 |
| RLJ Lodging Trust | COM | 74965L101 | 11 | 619 | SH | | DFND | 1 | 619 | 0 | 0 |
| Rayonier Inc | COM | 754907103 | 1,338 | 44,150 | SH | | DFND | 1 | 0 | 0 | 44,150 |
| Realty Income Corp | COM | 756109104 | 127,458 | 1,848,016 | SH | | DFND | 1 | 1,177,936 | 0 | 670,080 |
| Regency Centers Corp | COM | 758849103 | 81,381 | 1,219,376 | SH | | DFND | 1 | 707,516 | 0 | 511,860 |
| Retail Opportunity Investments Corp | COM | 76131N101 | 42,453 | 2,478,300 | SH | | DFND | 1 | 1,612,840 | 0 | 865,460 |
| Retail Properties of America | COM | 76131V202 | 87,346 | 7,427,396 | SH | | DFND | 1 | 4,473,593 | 0 | 2,953,803 |
| Rexford Industrial Realty | COM | 76169C100 | 16,659 | 412,659 | SH | | DFND | 1 | 249,649 | 0 | 163,010 |
| Ryman Hospitality Properties | COM | 78377T107 | 269 | 3,320 | SH | | DFND | 1 | 0 | 0 | 3,320 |
| SBA Communications Corp | COM | 78410G104 | 9,416 | 41,877 | SH | | DFND | 1 | 19,747 | 0 | 22,130 |
| SL Green Realty Corp | COM | 78440X101 | 12 | 150 | SH | | DFND | 1 | 150 | 0 | 0 |
| Sabra Health Care REIT Inc | COM | 78573L106 | 69,875 | 3,548,744 | SH | | DFND | 1 | 2,307,514 | 0 | 1,241,230 |
| Saul Centers Inc | COM | 804395101 | 2 | 27 | SH | | DFND | 1 | 27 | 0 | 0 |
| SEMPRA ENERGY | COM | 816851109 | 62 | 450 | SH | | DFND | 1 | 450 | 0 | 0 |
| Senior Housing Properties Trust | COM | 81721M109 | 11 | 1,281 | SH | | DFND | 1 | 1,281 | 0 | 0 |
| Simon Property Group Inc | COM | 828806109 | 280,071 | 1,753,071 | SH | | DFND | 1 | 1,086,541 | 0 | 666,530 |
| SITE Centers Corp | COM | 82981J109 | 5 | 414 | SH | | DFND | 1 | 414 | 0 | 0 |
| SOUTHERN CO/THE | COM | 842587107 | 118 | 2,130 | SH | | DFND | 1 | 2,130 | 0 | 0 |
| STAG Industrial | COM | 85254J102 | 37,229 | 1,231,111 | SH | | DFND | 1 | 812,461 | 0 | 418,650 |
| Store Capital Corp | COM | 862121100 | 54,424 | 1,639,776 | SH | | DFND | 1 | 1,083,266 | 0 | 556,510 |
| Summit Hotel Properties Inc | COM | 866082100 | 2 | 172 | SH | | DFND | 1 | 172 | 0 | 0 |
| Sun Communities Inc | COM | 866674104 | 204,560 | 1,595,755 | SH | | DFND | 1 | 1,001,655 | 0 | 594,100 |
| Sunstone Hotel Investors Inc | COM | 867892101 | 58,890 | 4,295,428 | SH | | DFND | 1 | 2,934,728 | 0 | 1,360,700 |
| Tanger Factory Outlet Centers Inc | COM | 875465106 | 9 | 578 | SH | | DFND | 1 | 578 | 0 | 0 |
| Taubman Centers Inc | COM | 876664103 | 62,507 | 1,530,898 | SH | | DFND | 1 | 937,535 | 0 | 593,363 |
| Terreno Realty Corp | COM | 88146M101 | 1,777 | 36,230 | SH | | DFND | 1 | 21,060 | 0 | 15,170 |
| UDR Inc | COM | 902653104 | 45,533 | 1,014,329 | SH | | DFND | 1 | 630,745 | 0 | 383,584 |
| UNION PACIFIC CORP | COM | 907818108 | 135 | 800 | SH | | DFND | 1 | 800 | 0 | 0 |
| Urban Edge Properties | COM | 91704F104 | 15,772 | 910,077 | SH | | DFND | 1 | 646,600 | 0 | 263,477 |
| Ventas Inc | COM | 92276F100 | 376,826 | 5,513,183 | SH | | DFND | 1 | 3,457,323 | 0 | 2,055,860 |
| VEREIT Inc | COM | 92339V100 | 164,880 | 18,299,638 | SH | | DFND | 1 | 11,530,778 | 0 | 6,768,860 |
| VICI Properties Inc | COM | 925652109 | 30,933 | 1,403,485 | SH | | DFND | 1 | 1,019,465 | 0 | 384,020 |
| Vornado Realty Trust | COM | 929042109 | 15 | 233 | SH | | DFND | 1 | 233 | 0 | 0 |
| WP Carey Inc | COM | 92936U109 | 136,534 | 1,681,867 | SH | | DFND | 1 | 1,098,954 | 0 | 582,913 |
| Welltower Inc | COM | 95040Q104 | 27,917 | 342,408 | SH | | DFND | 1 | 207,348 | 0 | 135,060 |
| Weyerhauser Co | COM | 962166104 | 1,918 | 72,830 | SH | | DFND | 1 | 0 | 0 | 72,830 |
| WILLIAMS COS INC | COM | 969457100 | 88 | 3,150 | SH | | DFND | 1 | 3,150 | 0 | 0 |
| XCEL Energy Inc | COM | 98389B100 | 23 | 390 | SH | | DFND | 1 | 390 | 0 | 0 |
| American Homes 4 Rent | COM | 02665T306 | 6,619 | 272,290 | SH | | DFND | 2 | 272,290 | 0 | 0 |
| Americold Realty Trust | COM | 03064D108 | 6,534 | 201,550 | SH | | DFND | 2 | 201,550 | 0 | 0 |
| Boston Properties | COM | 101121101 | 8,168 | 63,320 | SH | | DFND | 2 | 63,320 | 0 | 0 |
| Brandywine Realty Trust | COM | 105368203 | 3,992 | 278,790 | SH | | DFND | 2 | 278,790 | 0 | 0 |
| Brixmor Property Group Inc | COM | 11120U105 | 3,752 | 209,840 | SH | | DFND | 2 | 209,840 | 0 | 0 |
| Camden Property Trust | COM | 133131102 | 7,996 | 76,600 | SH | | DFND | 2 | 76,600 | 0 | 0 |
| Chesapeake Lodging Trust | COM | 165240102 | 3,265 | 114,890 | SH | | DFND | 2 | 114,890 | 0 | 0 |
| Columbia Property Trust | COM | 198287203 | 5,544 | 267,290 | SH | | DFND | 2 | 267,290 | 0 | 0 |
| Cousins Properties Inc | COM | 222795502 | 2,230 | 61,660 | SH | | DFND | 2 | 61,660 | 0 | 0 |
| Crown Castle Intl Corp | COM | 22822V101 | 2,224 | 17,060 | SH | | DFND | 2 | 17,060 | 0 | 0 |
| Cubesmart | COM | 229663109 | 9,329 | 278,970 | SH | | DFND | 2 | 278,970 | 0 | 0 |
| CyrusOne | COM | 23283R100 | 11,063 | 191,670 | SH | | DFND | 2 | 191,670 | 0 | 0 |
| DiamondRock Hospitality Co | COM | 252784301 | 2,253 | 217,870 | SH | | DFND | 2 | 217,870 | 0 | 0 |
| Digital Realty Trust Inc | COM | 253868103 | 3,464 | 29,410 | SH | | DFND | 2 | 29,410 | 0 | 0 |
| Duke Realty Investments Inc | COM | 264411505 | 8,122 | 256,930 | SH | | DFND | 2 | 256,930 | 0 | 0 |
| Empire State Realty Trust | COM | 292104106 | 5,829 | 393,560 | SH | | DFND | 2 | 393,560 | 0 | 0 |
| Equinix Inc | COM | 29444U700 | 24,034 | 47,660 | SH | | DFND | 2 | 47,660 | 0 | 0 |
| Equity Residential Properties Trust | COM | 29476L107 | 18,181 | 239,480 | SH | | DFND | 2 | 239,480 | 0 | 0 |
| Essex Property Trust Inc | COM | 297178105 | 4,195 | 14,370 | SH | | DFND | 2 | 14,370 | 0 | 0 |
| Extra Space Storage Inc | COM | 30225T102 | 7,566 | 71,310 | SH | | DFND | 2 | 71,310 | 0 | 0 |
| Federal Realty Investment Trust | COM | 313747206 | 5,427 | 42,150 | SH | | DFND | 2 | 42,150 | 0 | 0 |
| HCP Inc | COM | 40414L109 | 17,019 | 532,190 | SH | | DFND | 2 | 532,190 | 0 | 0 |
| Healthcare Trust of America | COM | 42225P501 | 6,641 | 242,110 | SH | | DFND | 2 | 242,110 | 0 | 0 |
| Host Hotels & Resorts Inc | COM | 44107P104 | 5,576 | 306,050 | SH | | DFND | 2 | 306,050 | 0 | 0 |
| Invitation Homes Inc | COM | 46187W107 | 11,563 | 432,580 | SH | | DFND | 2 | 432,580 | 0 | 0 |
| Iron Mountain Inc | COM | 46284V101 | 8,843 | 282,510 | SH | | DFND | 2 | 282,510 | 0 | 0 |
| iShares MBS ETF | COM | 464288588 | 83,046 | 771,800 | SH | | DFND | 2 | 771,800 | 0 | 0 |
| JBG Smith Properties | COM | 46590V100 | 4,464 | 113,480 | SH | | DFND | 2 | 113,480 | 0 | 0 |
| Kilroy Realty Corporation | COM | 49427F108 | 10,110 | 136,970 | SH | | DFND | 2 | 136,970 | 0 | 0 |
| Liberty Property Trust | COM | 531172104 | 6,046 | 120,820 | SH | | DFND | 2 | 120,820 | 0 | 0 |
| MGM Growth Properties LLC | COM | 55303A105 | 2,289 | 74,680 | SH | | DFND | 2 | 74,680 | 0 | 0 |
| Macerich Company | COM | 554382101 | 4,825 | 144,070 | SH | | DFND | 2 | 144,070 | 0 | 0 |
| Mack Cali Realty Corporation | COM | 554489104 | 4,776 | 205,080 | SH | | DFND | 2 | 205,080 | 0 | 0 |
| Mid-America Apartment Communities Inc | COM | 59522J103 | 4,579 | 38,880 | SH | | DFND | 2 | 38,880 | 0 | 0 |
| Park Hotels & Resorts Inc | COM | 700517105 | 4,895 | 177,610 | SH | | DFND | 2 | 177,610 | 0 | 0 |
| Pebblebrook Hotel Trust | COM | 70509V100 | 2,121 | 75,260 | SH | | DFND | 2 | 75,260 | 0 | 0 |
| Prologis Trust | COM | 74340W103 | 26,063 | 325,380 | SH | | DFND | 2 | 325,380 | 0 | 0 |
| Public Storage Inc | COM | 74460D109 | 11,951 | 50,180 | SH | | DFND | 2 | 50,180 | 0 | 0 |
| Realty Income Corp | COM | 756109104 | 12,326 | 178,710 | SH | | DFND | 2 | 178,710 | 0 | 0 |
| Regency Centers Corp | COM | 758849103 | 6,658 | 99,760 | SH | | DFND | 2 | 99,760 | 0 | 0 |
| Retail Properties of America | COM | 76131V202 | 6,019 | 511,780 | SH | | DFND | 2 | 511,780 | 0 | 0 |
| Rexford Industrial Realty | COM | 76169C100 | 1,785 | 44,220 | SH | | DFND | 2 | 44,220 | 0 | 0 |
| Sabra Health Care REIT Inc | COM | 78573L106 | 4,454 | 226,200 | SH | | DFND | 2 | 226,200 | 0 | 0 |
| Simon Property Group Inc | COM | 828806109 | 18,796 | 117,650 | SH | | DFND | 2 | 117,650 | 0 | 0 |
| STAG Industrial | COM | 85254J102 | 4,648 | 153,720 | SH | | DFND | 2 | 153,720 | 0 | 0 |
| Store Capital Corp | COM | 862121100 | 7,119 | 214,490 | SH | | DFND | 2 | 214,490 | 0 | 0 |
| Sun Communities Inc | COM | 866674104 | 12,506 | 97,560 | SH | | DFND | 2 | 97,560 | 0 | 0 |
| Sunstone Hotel Investors Inc | COM | 867892101 | 4,746 | 346,180 | SH | | DFND | 2 | 346,180 | 0 | 0 |
| Taubman Centers Inc | COM | 876664103 | 2,902 | 71,070 | SH | | DFND | 2 | 71,070 | 0 | 0 |
| UDR Inc | COM | 902653104 | 4,612 | 102,730 | SH | | DFND | 2 | 102,730 | 0 | 0 |
| Urban Edge Properties | COM | 91704F104 | 2,768 | 159,750 | SH | | DFND | 2 | 159,750 | 0 | 0 |
| Urstadt Biddle 6.750 Series G Pref. | PREF | 917286809 | 1,029 | 40,000 | SH | | DFND | 2 | 40,000 | 0 | 0 |
| Vanguard Mortgage-Backed Securities ETF | COM | 92206C771 | 83,012 | 1,571,300 | SH | | DFND | 2 | 1,571,300 | 0 | 0 |
| Ventas Inc | COM | 92276F100 | 24,358 | 356,370 | SH | | DFND | 2 | 356,370 | 0 | 0 |
| VEREIT Inc | COM | 92339V100 | 10,337 | 1,147,280 | SH | | DFND | 2 | 1,147,280 | 0 | 0 |
| VICI Properties Inc | COM | 925652109 | 3,483 | 158,030 | SH | | DFND | 2 | 158,030 | 0 | 0 |
| WP Carey Inc | COM | 92936U109 | 11,204 | 138,020 | SH | | DFND | 2 | 138,020 | 0 | 0 |
