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 |
| Agree Realty Corp | COM | 008492100 | 127,629,263 | 1,811,629 | SH | DFND | 1 | 1,811,629 | 0 | 0 | |
| Alexandria Real Estate Equitie | COM | 015271109 | 42,496,877 | 435,642 | SH | DFND | 1 | 435,642 | 0 | 0 | |
| American Healthcare REIT Inc | COM | 398182303 | 87,669,874 | 3,084,795 | SH | DFND | 1 | 3,084,795 | 0 | 0 | |
| American Homes 4 Rent | COM | 02665T306 | 17,804,436 | 475,800 | SH | DFND | 1 | 475,800 | 0 | 0 | |
| American Tower Corp | COM | 03027X100 | 75,831,231 | 413,452 | SH | DFND | 1 | 413,452 | 0 | 0 | |
| Americold Realty Trust Inc | COM | 03064D108 | 65,472,915 | 3,059,482 | SH | DFND | 1 | 3,059,482 | 0 | 0 | |
| Avalon Bay Communities | COM | 053484101 | 25,470,326 | 115,790 | SH | DFND | 1 | 115,790 | 0 | 0 | |
| Brixmor Property Group Inc | COM | 11120U105 | 187,649,367 | 6,740,279 | SH | DFND | 1 | 6,740,279 | 0 | 0 | |
| Broadstone Net Lease Inc | COM | 11135E203 | 49,282,063 | 3,107,318 | SH | DFND | 1 | 3,107,318 | 0 | 0 | |
| BXP Inc | COM | 101121101 | 158,162,084 | 2,126,978 | SH | DFND | 1 | 2,126,978 | 0 | 0 | |
| Camden Property Trust | COM | 133131102 | 240,106,139 | 2,069,167 | SH | DFND | 1 | 2,069,167 | 0 | 0 | |
| CareTrust REIT Inc | COM | 14174T107 | 1,329,994 | 49,168 | SH | DFND | 1 | 49,168 | 0 | 0 | |
| CBRE Group Inc - A | COM | 12504L109 | 1,431,061 | 10,900 | SH | DFND | 1 | 10,900 | 0 | 0 | |
| Centerspace | COM | 15202L107 | 965,790 | 14,600 | SH | DFND | 1 | 14,600 | 0 | 0 | |
| COPT Defense Properties | COM | 22002T108 | 2,224,748 | 71,882 | SH | DFND | 1 | 71,882 | 0 | 0 | |
| Corp Inmobiliaria Vesta SAB | COM | 92540K109 | 8,763,955 | 342,342 | SH | DFND | 1 | 342,342 | 0 | 0 | |
| Cousins Properties Inc | COM | 222795502 | 140,662,572 | 4,590,815 | SH | DFND | 1 | 4,590,815 | 0 | 0 | |
| Crown Castle Intl Corp | COM | 22822V101 | 5,360,286 | 59,060 | SH | DFND | 1 | 59,060 | 0 | 0 | |
| Cubesmart | COM | 229663109 | 65,672,896 | 1,532,623 | SH | DFND | 1 | 1,532,623 | 0 | 0 | |
| DiamondRock Hospitality Co | COM | 252784301 | 38,374,954 | 4,249,718 | SH | DFND | 1 | 4,249,718 | 0 | 0 | |
| Digital Realty Trust Inc | COM | 253868103 | 429,102,779 | 2,419,798 | SH | DFND | 1 | 2,419,798 | 0 | 0 | |
| DigitalBridge Group Inc | COM | 25401T603 | 1,872,480 | 166,000 | SH | DFND | 1 | 166,000 | 0 | 0 | |
| Douglas Emmett Inc | COM | 25960P109 | 18,750,426 | 1,010,260 | SH | DFND | 1 | 1,010,260 | 0 | 0 | |
| EastGroup Properties Inc | COM | 277276101 | 60,775,637 | 378,688 | SH | DFND | 1 | 378,688 | 0 | 0 | |
| Elme Communities | COM | 939653101 | 1,676,646 | 109,800 | SH | DFND | 1 | 109,800 | 0 | 0 | |
| Empire State Realty Trust | COM | 292104106 | 460,406 | 44,613 | SH | DFND | 1 | 44,613 | 0 | 0 | |
| Equinix Inc | COM | 29444U700 | 656,957,665 | 696,749 | SH | DFND | 1 | 696,749 | 0 | 0 | |
| Equity Lifestyle Properties | COM | 29472R108 | 7,238,554 | 108,687 | SH | DFND | 1 | 108,687 | 0 | 0 | |
| Equity Residential Properties | COM | 29476L107 | 263,243,164 | 3,668,383 | SH | DFND | 1 | 3,668,383 | 0 | 0 | |
| Essential Properties Realty | COM | 29670E107 | 705,771 | 22,563 | SH | DFND | 1 | 22,563 | 0 | 0 | |
| Essex Property Trust Inc | COM | 297178105 | 28,572,544 | 100,100 | SH | DFND | 1 | 100,100 | 0 | 0 | |
| Extra Space Storage Inc | COM | 30225T102 | 291,204,778 | 1,946,556 | SH | DFND | 1 | 1,946,556 | 0 | 0 | |
| Federal Realty Investment Trus | COM | 313745101 | 96,443,358 | 861,486 | SH | DFND | 1 | 861,486 | 0 | 0 | |
| First Industrial Realty Trust | COM | 32054K103 | 116,125,393 | 2,316,485 | SH | DFND | 1 | 2,316,485 | 0 | 0 | |
| Four Corners Property Trust | COM | 35086T109 | 588,015 | 21,666 | SH | DFND | 1 | 21,666 | 0 | 0 | |
| FrontView REIT Inc | COM | 35922N100 | 1,588,007 | 87,590 | SH | DFND | 1 | 87,590 | 0 | 0 | |
| Healthpeak Properties Inc | COM | 42250P103 | 184,453,128 | 9,099,809 | SH | DFND | 1 | 9,099,809 | 0 | 0 | |
| Host Hotels & Resorts Inc | COM | 44107P104 | 155,688,256 | 8,886,316 | SH | DFND | 1 | 8,886,316 | 0 | 0 | |
| Independence Realty Trust Inc | COM | 45378A106 | 1,567,360 | 79,000 | SH | DFND | 1 | 79,000 | 0 | 0 | |
| InvenTrust Properties Corp | COM | 46124J201 | 21,325,893 | 707,796 | SH | DFND | 1 | 707,796 | 0 | 0 | |
| Invitation Homes Inc | COM | 46187W107 | 339,705,323 | 10,625,753 | SH | DFND | 1 | 10,625,753 | 0 | 0 | |
| Iron Mountain Inc | COM | 46284V101 | 145,746,787 | 1,386,612 | SH | DFND | 1 | 1,386,612 | 0 | 0 | |
| Jones Lang LaSalle Inc | COM | 48020Q107 | 303,768 | 1,200 | SH | DFND | 1 | 1,200 | 0 | 0 | |
| Kilroy Realty Corporation | COM | 49427F108 | 43,574,075 | 1,077,233 | SH | DFND | 1 | 1,077,233 | 0 | 0 | |
| Kimco Realty Corp | COM | 49446R109 | 160,047,073 | 6,830,861 | SH | DFND | 1 | 6,830,861 | 0 | 0 | |
| Kite Realty Group Trust | COM | 49803T300 | 50,982,276 | 2,019,900 | SH | DFND | 1 | 2,019,900 | 0 | 0 | |
| Lamar Advertising Company | COM | 512816109 | 57,877,631 | 475,420 | SH | DFND | 1 | 475,420 | 0 | 0 | |
| Lineage Inc | COM | 53566V106 | 60,106,350 | 1,026,231 | SH | DFND | 1 | 1,026,231 | 0 | 0 | |
| LXP Industrial Trust | COM | 529043101 | 2,880,976 | 354,800 | SH | DFND | 1 | 354,800 | 0 | 0 | |
| Macerich Company | COM | 554382101 | 32,997,360 | 1,656,494 | SH | DFND | 1 | 1,656,494 | 0 | 0 | |
| Mid-America Apartment Communit | COM | 59522J103 | 18,339,731 | 118,650 | SH | DFND | 1 | 118,650 | 0 | 0 | |
| National Health Investors | COM | 63633D104 | 21,756,527 | 313,947 | SH | DFND | 1 | 313,947 | 0 | 0 | |
| NetSTREIT Corp | COM | 64119V303 | 21,483,393 | 1,518,261 | SH | DFND | 1 | 1,518,261 | 0 | 0 | |
| NEXTERA ENERGY INC | COM | 65339F101 | 996,491 | 13,900 | SH | DFND | 1 | 13,900 | 0 | 0 | |
| NNN REIT | COM | 637417106 | 90,439,041 | 2,213,930 | SH | DFND | 1 | 2,213,930 | 0 | 0 | |
| Omega Healthcare Investors Inc | COM | 681936100 | 82,408,345 | 2,177,235 | SH | DFND | 1 | 2,177,235 | 0 | 0 | |
| Pebblebrook Hotel Trust | COM | 70509V100 | 20,490,269 | 1,512,197 | SH | DFND | 1 | 1,512,197 | 0 | 0 | |
| Prologis Trust | COM | 74340W103 | 562,590,681 | 5,322,523 | SH | DFND | 1 | 5,322,523 | 0 | 0 | |
| Public Storage Inc | COM | 74460D109 | 188,330,991 | 628,944 | SH | DFND | 1 | 628,944 | 0 | 0 | |
| Realty Income Corp | COM | 756109104 | 166,149,270 | 3,110,827 | SH | DFND | 1 | 3,110,827 | 0 | 0 | |
| Regency Centers Corp | COM | 758849103 | 34,150,115 | 461,925 | SH | DFND | 1 | 461,925 | 0 | 0 | |
| Rexford Industrial Realty | COM | 76169C100 | 144,058,603 | 3,726,296 | SH | DFND | 1 | 3,726,296 | 0 | 0 | |
| Ryman Hospitality Properties | COM | 78377T107 | 6,863,485 | 65,780 | SH | DFND | 1 | 65,780 | 0 | 0 | |
| SBA Communications Corp | COM | 78410G104 | 38,578,729 | 189,297 | SH | DFND | 1 | 189,297 | 0 | 0 | |
| Simon Property Group Inc | COM | 828806109 | 228,989,531 | 1,329,711 | SH | DFND | 1 | 1,329,711 | 0 | 0 | |
| STAG Industrial | COM | 85254J102 | 4,930,956 | 145,800 | SH | DFND | 1 | 145,800 | 0 | 0 | |
| Sun Communities Inc | COM | 866674104 | 155,303,486 | 1,262,938 | SH | DFND | 1 | 1,262,938 | 0 | 0 | |
| Sunstone Hotel Investors Inc | COM | 867892101 | 12,376,494 | 1,045,312 | SH | DFND | 1 | 1,045,312 | 0 | 0 | |
| Terreno Realty Corp | COM | 88146M101 | 3,619,368 | 61,200 | SH | DFND | 1 | 61,200 | 0 | 0 | |
| UDR Inc | COM | 902653104 | 319,488,788 | 7,359,797 | SH | DFND | 1 | 7,359,797 | 0 | 0 | |
| Ventas Inc | COM | 92276F100 | 334,643,956 | 5,682,526 | SH | DFND | 1 | 5,682,526 | 0 | 0 | |
| VICI Properties Inc | COM | 925652109 | 185,498,894 | 6,350,527 | SH | DFND | 1 | 6,350,527 | 0 | 0 | |
| Vornado Realty Trust | COM | 929042109 | 65,871,215 | 1,566,870 | SH | DFND | 1 | 1,566,870 | 0 | 0 | |
| Welltower Inc | COM | 95040Q104 | 510,764,428 | 4,052,721 | SH | DFND | 1 | 4,052,721 | 0 | 0 | |
| Weyerhaeuser Co | COM | 962166104 | 12,025,933 | 427,209 | SH | DFND | 1 | 427,209 | 0 | 0 | |
| Agree Realty Corp | COM | 008492100 | 20,252,262 | 287,470 | SH | DFND | 2 | 287,470 | 0 | 0 | |
| Alexandria Real Estate Equitie | COM | 015271109 | 9,327,731 | 95,620 | SH | DFND | 2 | 95,620 | 0 | 0 | |
| American Healthcare REIT Inc | COM | 398182303 | 14,208,579 | 499,950 | SH | DFND | 2 | 499,950 | 0 | 0 | |
| Americold Realty Trust Inc | COM | 03064D108 | 11,688,252 | 546,180 | SH | DFND | 2 | 546,180 | 0 | 0 | |
| Brixmor Property Group Inc | COM | 11120U105 | 28,760,390 | 1,033,060 | SH | DFND | 2 | 1,033,060 | 0 | 0 | |
| Broadstone Net Lease Inc | COM | 11135E203 | 10,963,717 | 691,281 | SH | DFND | 2 | 691,281 | 0 | 0 | |
| BXP Inc | COM | 101121101 | 22,645,594 | 304,540 | SH | DFND | 2 | 304,540 | 0 | 0 | |
| Camden Property Trust | COM | 133131102 | 39,142,613 | 337,320 | SH | DFND | 2 | 337,320 | 0 | 0 | |
| Cousins Properties Inc | COM | 222795502 | 22,380,069 | 730,420 | SH | DFND | 2 | 730,420 | 0 | 0 | |
| Cubesmart | COM | 229663109 | 11,110,577 | 259,290 | SH | DFND | 2 | 259,290 | 0 | 0 | |
| DiamondRock Hospitality Co | COM | 252784301 | 7,527,814 | 833,645 | SH | DFND | 2 | 833,645 | 0 | 0 | |
| Digital Realty Trust Inc | COM | 253868103 | 71,247,647 | 401,780 | SH | DFND | 2 | 401,780 | 0 | 0 | |
| Douglas Emmett Inc | COM | 25960P109 | 4,542,746 | 244,760 | SH | DFND | 2 | 244,760 | 0 | 0 | |
| EastGroup Properties Inc | COM | 277276101 | 11,964,209 | 74,548 | SH | DFND | 2 | 74,548 | 0 | 0 | |
| Equinix Inc | COM | 29444U700 | 110,836,720 | 117,550 | SH | DFND | 2 | 117,550 | 0 | 0 | |
| Equity Residential Properties | COM | 29476L107 | 44,956,922 | 626,490 | SH | DFND | 2 | 626,490 | 0 | 0 | |
| Extra Space Storage Inc | COM | 30225T102 | 49,053,840 | 327,900 | SH | DFND | 2 | 327,900 | 0 | 0 | |
| Federal Realty Investment Trus | COM | 313745101 | 15,278,936 | 136,480 | SH | DFND | 2 | 136,480 | 0 | 0 | |
| First Industrial Realty Trust | COM | 32054K103 | 13,017,257 | 259,670 | SH | DFND | 2 | 259,670 | 0 | 0 | |
| Healthpeak Properties Inc | COM | 42250P103 | 31,970,047 | 1,577,210 | SH | DFND | 2 | 1,577,210 | 0 | 0 | |
| Host Hotels & Resorts Inc | COM | 44107P104 | 27,148,291 | 1,549,560 | SH | DFND | 2 | 1,549,560 | 0 | 0 | |
| InvenTrust Properties Corp | COM | 46124J201 | 5,207,579 | 172,837 | SH | DFND | 2 | 172,837 | 0 | 0 | |
| Invitation Homes Inc | COM | 46187W107 | 52,744,745 | 1,649,820 | SH | DFND | 2 | 1,649,820 | 0 | 0 | |
| Iron Mountain Inc | COM | 46284V101 | 26,401,530 | 251,180 | SH | DFND | 2 | 251,180 | 0 | 0 | |
| Kilroy Realty Corporation | COM | 49427F108 | 6,709,967 | 165,883 | SH | DFND | 2 | 165,883 | 0 | 0 | |
| Kimco Realty Corp | COM | 49446R109 | 24,024,888 | 1,025,390 | SH | DFND | 2 | 1,025,390 | 0 | 0 | |
| Kite Realty Group Trust | COM | 49803T300 | 13,126,819 | 520,080 | SH | DFND | 2 | 520,080 | 0 | 0 | |
| Lamar Advertising Company | COM | 512816109 | 15,190,717 | 124,780 | SH | DFND | 2 | 124,780 | 0 | 0 | |
| Lineage Inc | COM | 53566V106 | 10,850,678 | 185,260 | SH | DFND | 2 | 185,260 | 0 | 0 | |
| Macerich Company | COM | 554382101 | 7,150,164 | 358,944 | SH | DFND | 2 | 358,944 | 0 | 0 | |
| National Health Investors | COM | 63633D104 | 5,577,680 | 80,486 | SH | DFND | 2 | 80,486 | 0 | 0 | |
| NetSTREIT Corp | COM | 64119V303 | 5,818,890 | 411,229 | SH | DFND | 2 | 411,229 | 0 | 0 | |
| NNN REIT | COM | 637417106 | 15,971,329 | 390,975 | SH | DFND | 2 | 390,975 | 0 | 0 | |
| Omega Healthcare Investors Inc | COM | 681936100 | 14,123,349 | 373,140 | SH | DFND | 2 | 373,140 | 0 | 0 | |
| Pebblebrook Hotel Trust | COM | 70509V100 | 3,586,685 | 264,700 | SH | DFND | 2 | 264,700 | 0 | 0 | |
| Prologis Trust | COM | 74340W103 | 87,350,480 | 826,400 | SH | DFND | 2 | 826,400 | 0 | 0 | |
| Public Storage Inc | COM | 74460D109 | 33,019,249 | 110,270 | SH | DFND | 2 | 110,270 | 0 | 0 | |
| Realty Income Corp | COM | 756109104 | 34,201,628 | 640,360 | SH | DFND | 2 | 640,360 | 0 | 0 | |
| Rexford Industrial Realty | COM | 76169C100 | 21,324,856 | 551,600 | SH | DFND | 2 | 551,600 | 0 | 0 | |
| Simon Property Group Inc | COM | 828806109 | 44,137,423 | 256,300 | SH | DFND | 2 | 256,300 | 0 | 0 | |
| Sun Communities Inc | COM | 866674104 | 26,654,977 | 216,760 | SH | DFND | 2 | 216,760 | 0 | 0 | |
| Sunstone Hotel Investors Inc | COM | 867892101 | 3,276,483 | 276,730 | SH | DFND | 2 | 276,730 | 0 | 0 | |
| UDR Inc | COM | 902653104 | 54,366,684 | 1,252,400 | SH | DFND | 2 | 1,252,400 | 0 | 0 | |
| Ventas Inc | COM | 92276F100 | 49,171,972 | 834,980 | SH | DFND | 2 | 834,980 | 0 | 0 | |
| VICI Properties Inc | COM | 925652109 | 39,518,501 | 1,352,910 | SH | DFND | 2 | 1,352,910 | 0 | 0 | |
| Vornado Realty Trust | COM | 929042109 | 12,149,980 | 289,010 | SH | DFND | 2 | 289,010 | 0 | 0 | |
| Welltower Inc | COM | 95040Q104 | 80,281,110 | 637,000 | SH | DFND | 2 | 637,000 | 0 | 0 | |
| Agree Realty Corp | COM | 008492100 | 3,647,901 | 51,780 | SH | DFND | 3 | 51,780 | 0 | 0 | |
| American Healthcare REIT Inc | COM | 398182303 | 3,164,567 | 111,350 | SH | DFND | 3 | 111,350 | 0 | 0 | |
| American Tower Corp | COM | 03027X100 | 2,347,648 | 12,800 | SH | DFND | 3 | 12,800 | 0 | 0 | |
| Americold Realty Trust Inc | COM | 03064D108 | 2,092,492 | 97,780 | SH | DFND | 3 | 97,780 | 0 | 0 | |
| Brixmor Property Group Inc | COM | 11120U105 | 5,811,322 | 208,740 | SH | DFND | 3 | 208,740 | 0 | 0 | |
| Broadstone Net Lease Inc | COM | 11135E203 | 1,719,700 | 108,430 | SH | DFND | 3 | 108,430 | 0 | 0 | |
| BXP Inc | COM | 101121101 | 4,057,825 | 54,570 | SH | DFND | 3 | 54,570 | 0 | 0 | |
| Camden Property Trust | COM | 133131102 | 6,804,702 | 58,641 | SH | DFND | 3 | 58,641 | 0 | 0 | |
| Corp Inmobiliaria Vesta SAB | COM | 92540K109 | 1,218,816 | 47,610 | SH | DFND | 3 | 47,610 | 0 | 0 | |
| Cousins Properties Inc | COM | 222795502 | 4,410,628 | 143,950 | SH | DFND | 3 | 143,950 | 0 | 0 | |
| Cubesmart | COM | 229663109 | 2,531,578 | 59,080 | SH | DFND | 3 | 59,080 | 0 | 0 | |
| DiamondRock Hospitality Co | COM | 252784301 | 946,416 | 104,808 | SH | DFND | 3 | 104,808 | 0 | 0 | |
| Digital Realty Trust Inc | COM | 253868103 | 11,854,511 | 66,850 | SH | DFND | 3 | 66,850 | 0 | 0 | |
| EastGroup Properties Inc | COM | 277276101 | 824,758 | 5,139 | SH | DFND | 3 | 5,139 | 0 | 0 | |
| Equinix Inc | COM | 29444U700 | 19,288,701 | 20,457 | SH | DFND | 3 | 20,457 | 0 | 0 | |
| Equity Residential Properties | COM | 29476L107 | 6,070,178 | 84,590 | SH | DFND | 3 | 84,590 | 0 | 0 | |
| Extra Space Storage Inc | COM | 30225T102 | 8,899,704 | 59,490 | SH | DFND | 3 | 59,490 | 0 | 0 | |
| Federal Realty Investment Trus | COM | 313745101 | 2,561,416 | 22,880 | SH | DFND | 3 | 22,880 | 0 | 0 | |
| First Industrial Realty Trust | COM | 32054K103 | 2,499,482 | 49,860 | SH | DFND | 3 | 49,860 | 0 | 0 | |
| Healthpeak Properties Inc | COM | 42250P103 | 5,587,466 | 275,652 | SH | DFND | 3 | 275,652 | 0 | 0 | |
| Host Hotels & Resorts Inc | COM | 44107P104 | 5,439,434 | 310,470 | SH | DFND | 3 | 310,470 | 0 | 0 | |
| Invitation Homes Inc | COM | 46187W107 | 10,047,212 | 314,270 | SH | DFND | 3 | 314,270 | 0 | 0 | |
| Iron Mountain Inc | COM | 46284V101 | 3,730,354 | 35,490 | SH | DFND | 3 | 35,490 | 0 | 0 | |
| Kilroy Realty Corporation | COM | 49427F108 | 1,010,239 | 24,975 | SH | DFND | 3 | 24,975 | 0 | 0 | |
| Kimco Realty Corp | COM | 49446R109 | 4,667,725 | 199,220 | SH | DFND | 3 | 199,220 | 0 | 0 | |
| Kite Realty Group Trust | COM | 49803T300 | 294,046 | 11,650 | SH | DFND | 3 | 11,650 | 0 | 0 | |
| Lamar Advertising Company | COM | 512816109 | 342,089 | 2,810 | SH | DFND | 3 | 2,810 | 0 | 0 | |
| Lineage Inc | COM | 53566V106 | 2,270,173 | 38,760 | SH | DFND | 3 | 38,760 | 0 | 0 | |
| NNN REIT | COM | 637417106 | 3,252,314 | 79,616 | SH | DFND | 3 | 79,616 | 0 | 0 | |
| Omega Healthcare Investors Inc | COM | 681936100 | 2,919,749 | 77,140 | SH | DFND | 3 | 77,140 | 0 | 0 | |
| Pebblebrook Hotel Trust | COM | 70509V100 | 692,947 | 51,140 | SH | DFND | 3 | 51,140 | 0 | 0 | |
| Prologis Trust | COM | 74340W103 | 13,121,598 | 124,140 | SH | DFND | 3 | 124,140 | 0 | 0 | |
| Public Storage Inc | COM | 74460D109 | 3,224,969 | 10,770 | SH | DFND | 3 | 10,770 | 0 | 0 | |
| Realty Income Corp | COM | 756109104 | 4,529,649 | 84,809 | SH | DFND | 3 | 84,809 | 0 | 0 | |
| Rexford Industrial Realty | COM | 76169C100 | 4,129,275 | 106,810 | SH | DFND | 3 | 106,810 | 0 | 0 | |
| SBA Communications Corp | COM | 78410G104 | 709,224 | 3,480 | SH | DFND | 3 | 3,480 | 0 | 0 | |
| Simon Property Group Inc | COM | 828806109 | 6,111,733 | 35,490 | SH | DFND | 3 | 35,490 | 0 | 0 | |
| Sun Communities Inc | COM | 866674104 | 4,386,340 | 35,670 | SH | DFND | 3 | 35,670 | 0 | 0 | |
| UDR Inc | COM | 902653104 | 8,570,870 | 197,440 | SH | DFND | 3 | 197,440 | 0 | 0 | |
| Ventas Inc | COM | 92276F100 | 9,372,344 | 159,150 | SH | DFND | 3 | 159,150 | 0 | 0 | |
| VICI Properties Inc | COM | 925652109 | 6,202,451 | 212,340 | SH | DFND | 3 | 212,340 | 0 | 0 | |
| Vornado Realty Trust | COM | 929042109 | 2,250,822 | 53,540 | SH | DFND | 3 | 53,540 | 0 | 0 | |
| Welltower Inc | COM | 95040Q104 | 13,074,352 | 103,740 | SH | DFND | 3 | 103,740 | 0 | 0 | |
| Weyerhaeuser Co | COM | 962166104 | 431,821 | 15,340 | SH | DFND | 3 | 15,340 | 0 | 0 | |
| Agree Realty Corp | COM | 008492100 | 3,271,698 | 46,440 | SH | DFND | 4 | 46,440 | 0 | 0 | |
| American Healthcare REIT Inc | COM | 398182303 | 2,934,933 | 103,270 | SH | DFND | 4 | 103,270 | 0 | 0 | |
| Americold Realty Trust Inc | COM | 03064D108 | 1,994,908 | 93,220 | SH | DFND | 4 | 93,220 | 0 | 0 | |
| Brixmor Property Group Inc | COM | 11120U105 | 5,838,048 | 209,700 | SH | DFND | 4 | 209,700 | 0 | 0 | |
| Broadstone Net Lease Inc | COM | 11135E203 | 1,655,625 | 104,390 | SH | DFND | 4 | 104,390 | 0 | 0 | |
| BXP Inc | COM | 101121101 | 3,720,231 | 50,030 | SH | DFND | 4 | 50,030 | 0 | 0 | |
| Camden Property Trust | COM | 133131102 | 6,645,611 | 57,270 | SH | DFND | 4 | 57,270 | 0 | 0 | |
| Corp Inmobiliaria Vesta SAB | COM | 92540K109 | 1,337,856 | 52,260 | SH | DFND | 4 | 52,260 | 0 | 0 | |
| Cousins Properties Inc | COM | 222795502 | 4,158,461 | 135,720 | SH | DFND | 4 | 135,720 | 0 | 0 | |
| Cubesmart | COM | 229663109 | 2,544,433 | 59,380 | SH | DFND | 4 | 59,380 | 0 | 0 | |
| DiamondRock Hospitality Co | COM | 252784301 | 864,632 | 95,751 | SH | DFND | 4 | 95,751 | 0 | 0 | |
| Digital Realty Trust Inc | COM | 253868103 | 11,460,838 | 64,630 | SH | DFND | 4 | 64,630 | 0 | 0 | |
| EastGroup Properties Inc | COM | 277276101 | 506,827 | 3,158 | SH | DFND | 4 | 3,158 | 0 | 0 | |
| Equinix Inc | COM | 29444U700 | 18,320,353 | 19,430 | SH | DFND | 4 | 19,430 | 0 | 0 | |
| Equity Residential Properties | COM | 29476L107 | 5,638,183 | 78,570 | SH | DFND | 4 | 78,570 | 0 | 0 | |
| Extra Space Storage Inc | COM | 30225T102 | 8,799,472 | 58,820 | SH | DFND | 4 | 58,820 | 0 | 0 | |
| Federal Realty Investment Trus | COM | 313745101 | 2,369,982 | 21,170 | SH | DFND | 4 | 21,170 | 0 | 0 | |
| First Industrial Realty Trust | COM | 32054K103 | 2,433,812 | 48,550 | SH | DFND | 4 | 48,550 | 0 | 0 | |
| Healthpeak Properties Inc | COM | 42250P103 | 5,327,868 | 262,845 | SH | DFND | 4 | 262,845 | 0 | 0 | |
| Host Hotels & Resorts Inc | COM | 44107P104 | 5,357,791 | 305,810 | SH | DFND | 4 | 305,810 | 0 | 0 | |
| Invitation Homes Inc | COM | 46187W107 | 9,868,819 | 308,690 | SH | DFND | 4 | 308,690 | 0 | 0 | |
| Iron Mountain Inc | COM | 46284V101 | 3,465,477 | 32,970 | SH | DFND | 4 | 32,970 | 0 | 0 | |
| Kilroy Realty Corporation | COM | 49427F108 | 879,788 | 21,750 | SH | DFND | 4 | 21,750 | 0 | 0 | |
| Kimco Realty Corp | COM | 49446R109 | 4,955,445 | 211,500 | SH | DFND | 4 | 211,500 | 0 | 0 | |
| Lineage Inc | COM | 53566V106 | 2,246,160 | 38,350 | SH | DFND | 4 | 38,350 | 0 | 0 | |
| NNN REIT | COM | 637417106 | 3,242,591 | 79,378 | SH | DFND | 4 | 79,378 | 0 | 0 | |
| Omega Healthcare Investors Inc | COM | 681936100 | 2,942,838 | 77,750 | SH | DFND | 4 | 77,750 | 0 | 0 | |
| Pebblebrook Hotel Trust | COM | 70509V100 | 694,980 | 51,290 | SH | DFND | 4 | 51,290 | 0 | 0 | |
| Prologis Trust | COM | 74340W103 | 12,469,429 | 117,970 | SH | DFND | 4 | 117,970 | 0 | 0 | |
| Public Storage Inc | COM | 74460D109 | 2,844,680 | 9,500 | SH | DFND | 4 | 9,500 | 0 | 0 | |
| Realty Income Corp | COM | 756109104 | 4,234,719 | 79,287 | SH | DFND | 4 | 79,287 | 0 | 0 | |
| Rexford Industrial Realty | COM | 76169C100 | 4,154,404 | 107,460 | SH | DFND | 4 | 107,460 | 0 | 0 | |
| Simon Property Group Inc | COM | 828806109 | 5,829,309 | 33,850 | SH | DFND | 4 | 33,850 | 0 | 0 | |
| Sun Communities Inc | COM | 866674104 | 4,286,734 | 34,860 | SH | DFND | 4 | 34,860 | 0 | 0 | |
| UDR Inc | COM | 902653104 | 7,969,208 | 183,580 | SH | DFND | 4 | 183,580 | 0 | 0 | |
| Ventas Inc | COM | 92276F100 | 9,149,739 | 155,370 | SH | DFND | 4 | 155,370 | 0 | 0 | |
| VICI Properties Inc | COM | 925652109 | 5,964,974 | 204,210 | SH | DFND | 4 | 204,210 | 0 | 0 | |
| Vornado Realty Trust | COM | 929042109 | 2,260,070 | 53,760 | SH | DFND | 4 | 53,760 | 0 | 0 | |
| Welltower Inc | COM | 95040Q104 | 12,722,729 | 100,950 | SH | DFND | 4 | 100,950 | 0 | 0 | |
