Fidelity Real Estate Income Fund

Fund Profile

Fund profile

Tickers

FRIFX, FRINX, FRIOX, FRIQX, FRIRX, FIKMX

Fund manager

Fidelity OTC K

Total assets

$5.02 bn

Liabilities

$61.03 mm

Net assets

$4.96 bn

Number of holdings

528.00

Top 200 of 528 Holdings

As of Oct 2024

Security	$Holding	Balance	% of Fund	Category	Position	Country
Fidelity Cash Central Fund	360.66 mm	360.59 mm shares	7.27	Short-term investment vehicle	Long	USA
ELS Equity LifeStyle Properties, Inc.	84.88 mm	1.21 mm shares	1.71	Common equity	Long	USA
AMT American Tower Corporation	82.11 mm	384.50 k shares	1.66	Common equity	Long	USA
EQIX Equinix, Inc.	75.01 mm	82.60 k shares	1.51	Common equity	Long	USA
PLD Prologis, Inc.	70.55 mm	624.63 k shares	1.42	Common equity	Long	USA
WELL Welltower Inc.	64.11 mm	475.30 k shares	1.29	Common equity	Long	USA
CCI Crown Castle Inc.	58.92 mm	548.11 k shares	1.19	Common equity	Long	USA
VICI VICI Properties Inc.	43.29 mm	1.36 mm shares	0.87	Common equity	Long	USA
VTR Ventas, Inc.	42.59 mm	650.29 k shares	0.86	Common equity	Long	USA
PSA Public Storage	39.88 mm	121.20 k shares	0.80	Common equity	Long	USA
INVH Invitation Homes Inc.	37.84 mm	1.20 mm shares	0.76	Common equity	Long	USA
NLY Annaly Capital Management, Inc.	37.57 mm	1.45 mm shares	0.76	Preferred equity	Long	USA
VICI PROPERTIES LP 5.125% 05/15/2032	37.21 mm	38.00 mm principal	0.75	Debt	Long	USA
SUN CMNTYS OPER LTD PRTNRSHP 5.7% 01/15/2033	36.93 mm	36.75 mm principal	0.74	Debt	Long	USA
CCI Crown Castle Inc.	34.51 mm	35.00 mm principal	0.70	Debt	Long	USA
AMT American Tower Corporation	34.44 mm	34.00 mm principal	0.69	Debt	Long	USA
DBRG DigitalBridge Group, Inc.	34.16 mm	1.36 mm shares	0.69	Preferred equity	Long	USA
INVITATION HOMES OPERATING PARTNERSHIP LP 4.15% 04/15/2032	32.49 mm	35.00 mm principal	0.66	Debt	Long	USA
CCI Crown Castle Inc.	30.85 mm	30.00 mm principal	0.62	Debt	Long	USA
AGNC AGNC Investment Corp.	30.40 mm	1.20 mm shares	0.61	Preferred equity	Long	USA
ESS Essex Property Trust, Inc.	28.70 mm	101.10 k shares	0.58	Common equity	Long	USA
AMT American Tower Corporation	28.56 mm	28.00 mm principal	0.58	Debt	Long	USA
LXP LXP Industrial Trust	28.47 mm	3.02 mm shares	0.57	Common equity	Long	USA
INVITATION HOMES OPERATING PARTNERSHIP LP 5.5% 08/15/2033	28.14 mm	28.00 mm principal	0.57	Debt	Long	USA
NLY Annaly Capital Management, Inc.	27.33 mm	1.07 mm shares	0.55	Preferred equity	Long	USA
DBRG DigitalBridge Group, Inc.	27.21 mm	1.07 mm shares	0.55	Preferred equity	Long	USA
RITM Rithm Capital Corp.	26.20 mm	1.07 mm shares	0.53	Preferred equity	Long	USA
RITM Rithm Capital Corp.	25.89 mm	1.02 mm shares	0.52	Preferred equity	Long	USA
SBA COMMUNICATIONS TERM B 1LN 01/27/2031	25.76 mm	25.80 mm principal	0.52	Loan	Long	USA
HOME PARTNERS AMER 2021-2 TR 4.505% 12/17/2026 144A	25.39 mm	27.67 mm principal	0.51	ABS-collateralized bond/debt obligation	Long	USA
AMERICAN HOMES 4 RENT LP 5.5% 02/01/2034	25.14 mm	25.00 mm principal	0.51	Debt	Long	USA
VICI PROPERTIES LP / VICI NOTE CO INC 4.625% 12/01/2029 144A	24.97 mm	26.00 mm principal	0.50	Debt	Long	USA
AMERICAN HOMES 4 RENT LP 3.625% 04/15/2032	24.39 mm	27.00 mm principal	0.49	Debt	Long	USA
SUI Sun Communities, Inc.	24.17 mm	182.20 k shares	0.49	Common equity	Long	USA
DBRG DigitalBridge Group, Inc.	23.83 mm	942.31 k shares	0.48	Preferred equity	Long	USA
UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC 6.5% 02/15/2029 144A	23.68 mm	27.51 mm principal	0.48	Debt	Long	USA
CBRE SERVICES INC 5.95% 08/15/2034	23.28 mm	22.25 mm principal	0.47	Debt	Long	USA
SAFEHOLD OPERATING PARTNERSHIP LP 6.1% 04/01/2034	23.12 mm	22.41 mm principal	0.47	Debt	Long	USA
AGNC AGNC Investment Corp.	23.02 mm	930.10 k shares	0.46	Preferred equity	Long	USA
BBCMS MTG TR 2023-C19 A5 5.451% 04/15/2056	23.00 mm	22.50 mm principal	0.46	ABS-mortgage backed security	Long	USA
SBAC SBA Communications Corporation	22.75 mm	25.00 mm principal	0.46	Debt	Long	USA
EXR Extra Space Storage Inc.	22.43 mm	137.35 k shares	0.45	Common equity	Long	USA
MHP 2022-MHIL MEZZ SOFR+500 01/09/2025	22.34 mm	23.15 mm principal	0.45	Loan	Long	USA
LXP LXP Industrial Trust	22.01 mm	440.10 k shares	0.44	Preferred equity	Long	USA
AMT American Tower Corporation	21.87 mm	23.00 mm principal	0.44	Debt	Long	USA
BENCHMARK 2023-B38 A4 MTG TR 5.5246% 04/15/2056	21.56 mm	21.00 mm principal	0.43	ABS-mortgage backed security	Long	USA
EQIX Equinix, Inc.	21.45 mm	23.00 mm principal	0.43	Debt	Long	USA
O Realty Income Corporation	21.15 mm	356.18 k shares	0.43	Common equity	Long	USA
CIM Chimera Investment Corporation	20.95 mm	914.49 k shares	0.42	Preferred equity	Long	USA
CTR PARTNERSHIP LP / CARETRUST CAP CORP 3.875% 06/30/2028 144A	20.71 mm	21.87 mm principal	0.42	Debt	Long	USA
AMT American Tower Corporation	20.59 mm	22.00 mm principal	0.42	Debt	Long	USA
AMT American Tower Corporation	20.49 mm	20.00 mm principal	0.41	Debt	Long	USA
MFA MFA Financial, Inc.	20.29 mm	838.55 k shares	0.41	Preferred equity	Long	USA
GLPI Gaming and Leisure Properties, Inc.	19.77 mm	393.85 k shares	0.40	Common equity	Long	USA
BX TR 2019-OC11 4.075457% 12/09/2041 144A	19.75 mm	22.52 mm principal	0.40	ABS-mortgage backed security	Long	USA
TWO Two Harbors Investment Corp.	19.33 mm	776.86 k shares	0.39	Preferred equity	Long	USA
HILT 2016-HHV F CSTR 11/38 144A	19.14 mm	20.27 mm principal	0.39	ABS-mortgage backed security	Long	USA
GLP CAP LP / GLP FING II INC 5.3% 01/15/2029	19.12 mm	19.19 mm principal	0.39	Debt	Long	USA
LAMR Lamar Advertising Company	18.88 mm	143.00 k shares	0.38	Common equity	Long	USA
GS MTG SECS CORP TR 2023-SHIP 7.68138% 09/10/2038 144A	18.51 mm	18.50 mm principal	0.37	ABS-mortgage backed security	Long	USA
KIM Kimco Realty Corporation	18.30 mm	771.70 k shares	0.37	Common equity	Long	USA
NXPT COML MTG TR 6.92673% 11/05/2041 144A	18.12 mm	18.75 mm principal	0.37	ABS-mortgage backed security	Long	USA
BX 2024-CNYN E TSFR1M+368.86 04/05/2029 144A	17.69 mm	17.80 mm principal	0.36	ABS-mortgage backed security	Long	USA
BX COMMERCIAL MORTGAGE TRUST 2020-VIVA E 3.54875% 03/09/2044 144A	17.66 mm	20.90 mm principal	0.36	ABS-mortgage backed security	Long	USA
AVB AvalonBay Communities, Inc.	17.44 mm	78.70 k shares	0.35	Common equity	Long	USA
BX TRUST 2024-FNX TSFR1M+393.874 11/15/2026 144A	17.32 mm	17.36 mm principal	0.35	ABS-mortgage backed security	Long	USA
SABRA HEALTH CARE LP 5.125% 08/15/2026	17.27 mm	17.26 mm principal	0.35	Debt	Long	USA
CIM Chimera Investment Corporation	17.08 mm	673.20 k shares	0.34	Preferred equity	Long	USA
SUN CMNTYS OPER LTD PRTNRSHP 4.2% 04/15/2032	16.99 mm	18.44 mm principal	0.34	Debt	Long	USA
AMH American Homes 4 Rent	16.93 mm	480.50 k shares	0.34	Common equity	Long	USA
BX COMMERCIAL MORTGAGE TRUST 2021-PAC G TSFR1M+306.058 21 10/15/2036 144A	16.90 mm	17.23 mm principal	0.34	ABS-mortgage backed security	Long	USA
AGNC AGNC Investment Corp.	16.89 mm	653.20 k shares	0.34	Preferred equity	Long	USA
AGNC AGNC Investment Corp.	16.86 mm	673.97 k shares	0.34	Preferred equity	Long	USA
MSWF COML MTG TR 2023-1 5.752% 05/15/2056	16.70 mm	16.00 mm principal	0.34	ABS-mortgage backed security	Long	USA
UMH UMH Properties, Inc.	16.67 mm	694.53 k shares	0.34	Preferred equity	Long	USA
BANK 2022-BNK44 5.746245% 11/15/2055	16.64 mm	15.90 mm principal	0.34	ABS-mortgage backed security	Long	USA
VENTAS RLTY LTD PARTNERSHIP 4.4% 01/15/2029	16.61 mm	17.00 mm principal	0.33	Debt	Long	USA
GNL Global Net Lease, Inc.	16.54 mm	721.48 k shares	0.33	Preferred equity	Long	USA
BX COMMERCIAL MORTGAGE TRUST 2021-SOAR J 3.85% 06/15/2023 144A	16.51 mm	16.66 mm principal	0.33	ABS-mortgage backed security	Long	USA
DX Dynex Capital, Inc.	16.36 mm	1.34 mm shares	0.33	Common equity	Long	USA
HILTON GRAND VACATIONS BORROWER ESCROW LLC 4.875% 07/01/2031 144A	16.32 mm	18.27 mm principal	0.33	Debt	Long	USA
SIMON PROPERTY GROUP LP 6.25% 01/15/2034	16.15 mm	15.00 mm principal	0.33	Debt	Long	USA
MHO M/I Homes, Inc.	15.60 mm	17.07 mm principal	0.31	Debt	Long	USA
SAFEHOLD OPERATING PARTNERSHIP LP 2.85% 01/15/2032	15.48 mm	18.25 mm principal	0.31	Debt	Long	USA
MPT OPER PARTNERSHIP LP/CORP 4.625% 08/01/2029	15.43 mm	19.84 mm principal	0.31	Debt	Long	USA
CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATES TSFR1M+382.888 44 08/15/2026 144A	15.38 mm	17.32 mm principal	0.31	ABS-mortgage backed security	Long	USA
OHI Omega Healthcare Investors, Inc.	15.14 mm	18.00 mm principal	0.31	Debt	Long	USA
UNITI GRP/UNITI HLD/CSL 6% 01/15/2030 144A	15.11 mm	18.04 mm principal	0.30	Debt	Long	USA
PEB Pebblebrook Hotel Trust	15.07 mm	666.80 k shares	0.30	Preferred equity	Long	USA
ELP COMMERCIAL MORTGAGE TRUST 2021-ELP TSFR1M+372.938 49 11/15/2036 144A	15.02 mm	15.43 mm principal	0.30	ABS-mortgage backed security	Long	USA
EXTRA SPACE STORAGE LP 5.4% 02/01/2034	15.01 mm	15.00 mm principal	0.30	Debt	Long	USA
TRNO Terreno Realty Corporation	14.97 mm	249.73 k shares	0.30	Common equity	Long	USA
STWD TR 2021-LIH TSFR1M+359.8 1 11/15/2036 144A	14.94 mm	15.28 mm principal	0.30	ABS-mortgage backed security	Long	USA
PEB Pebblebrook Hotel Trust	14.85 mm	717.20 k shares	0.30	Preferred equity	Long	USA
MARRIOTT OWNERSHIP RESORTS INC 4.5% 06/15/2029 144A	14.81 mm	15.96 mm principal	0.30	Debt	Long	USA
BMO 2023-C6 A5 MTG TR 5.9562% 09/15/2056	14.80 mm	14.00 mm principal	0.30	ABS-mortgage backed security	Long	USA
BBCMS MORTGAGE TRUST 2023-C20 A5 5.576% 07/15/2056	14.74 mm	14.25 mm principal	0.30	ABS-mortgage backed security	Long	USA
MFA MFA Financial, Inc.	14.59 mm	1.19 mm shares	0.29	Common equity	Long	USA
KIMCO REALTY OP LLC 6.4% 03/01/2034	14.59 mm	13.42 mm principal	0.29	Debt	Long	USA
BX 2024 VLT4 E TSFR1M+288.94 07/15/2029 144A	14.22 mm	14.20 mm principal	0.29	ABS-mortgage backed security	Long	USA
Phillips Edison Grocery Center Operating Partnership I LP 2.625% 11/15/2031	13.85 mm	16.50 mm principal	0.28	Debt	Long	USA
SMRT 2022-MINI TSFR1M+335 01/15/2039 144A	13.78 mm	14.62 mm principal	0.28	ABS-mortgage backed security	Long	USA
ROCC 2024-CNTR E 8.81906% 11/13/2041 144A	13.61 mm	13.37 mm principal	0.27	ABS-mortgage backed security	Long	USA
PENNYMAC CORP CONV 5.5% 11/01/2024	13.50 mm	13.60 mm principal	0.27	Debt	Long	USA
HILTON TERM B 1LN 11/08/2030	13.50 mm	13.50 mm principal	0.27	Loan	Long	USA
SIMON PROPERTY GROUP LP 4.75% 09/26/2034	13.44 mm	14.00 mm principal	0.27	Debt	Long	USA
CURB Curbline Properties Corp.	13.42 mm	592.92 k shares	0.27	Common equity	Long	USA
BMO 2023-C5 MTG TR 5.7653% 06/15/2056	13.41 mm	12.85 mm principal	0.27	ABS-mortgage backed security	Long	USA
BX TR 2021-ACNT TSFR1M+340.948 3 11/15/2026 144A	13.37 mm	13.57 mm principal	0.27	ABS-mortgage backed security	Long	USA
MAA Mid-America Apartment Communities, Inc.	13.33 mm	88.11 k shares	0.27	Common equity	Long	USA
MHP 2022-MHIL F TSFR1M+395.75 01/15/2027 144A	12.99 mm	13.15 mm principal	0.26	ABS-mortgage backed security	Long	USA
AMERICAN HOMES 4 RENT LP 4.9% 02/15/2029	12.95 mm	13.00 mm principal	0.26	Debt	Long	USA
RITM Rithm Capital Corp.	12.87 mm	505.90 k shares	0.26	Preferred equity	Long	USA
PSTL Postal Realty Trust, Inc.	12.78 mm	878.50 k shares	0.26	Common equity	Long	USA
AKR Acadia Realty Trust	12.72 mm	519.33 k shares	0.26	Common equity	Long	USA
MORGAN STANLEY CAP I TR 2024-NSTB VAR 09/20/2032 144A	12.60 mm	13.57 mm principal	0.25	ABS-mortgage backed security	Long	USA
DEA Easterly Government Properties, Inc.	12.57 mm	927.20 k shares	0.25	Common equity	Long	USA
SREIT TR 2021-IND G TSFR1M+338.026 21 10/15/2038 144A	12.44 mm	12.75 mm principal	0.25	ABS-mortgage backed security	Long	USA
MHC 2021 MHC G TSFR1M+331.544 9 04/15/2026 144A	12.36 mm	12.48 mm principal	0.25	ABS-mortgage backed security	Long	USA
AMERICAN FIN TR FINAN OP 4.5% 09/30/2028 144A	12.35 mm	13.41 mm principal	0.25	Debt	Long	USA
ELME Elme Communities	12.26 mm	726.85 k shares	0.25	Common equity	Long	USA
HILTON DOMESTIC OPERATING CO INC 3.625% 02/15/2032 144A	12.26 mm	13.97 mm principal	0.25	Debt	Long	USA
ESSEX PORTFOLIO LP 5.5% 04/01/2034	12.20 mm	12.08 mm principal	0.25	Debt	Long	USA
ENB Enbridge Inc.	11.97 mm	498.28 k shares	0.24	Preferred equity	Long	Canada
LGIH LGI Homes, Inc.	11.92 mm	13.31 mm principal	0.24	Debt	Long	USA
CCI Crown Castle Inc.	11.86 mm	14.00 mm principal	0.24	Debt	Long	USA
CCS Century Communities, Inc.	11.83 mm	13.01 mm principal	0.24	Debt	Long	USA
SBRA Sabra Health Care REIT, Inc.	11.72 mm	604.17 k shares	0.24	Common equity	Long	USA
CUBESMART LP 4.375% 02/15/2029	11.70 mm	12.00 mm principal	0.24	Debt	Long	USA
DRH DiamondRock Hospitality Company	11.63 mm	448.23 k shares	0.23	Preferred equity	Long	USA
BENCHMARK 2022-B35 A5 MTG TR VAR 05/15/2054	11.58 mm	12.30 mm principal	0.23	ABS-mortgage backed security	Long	USA
GNL Global Net Lease, Inc.	11.57 mm	509.70 k shares	0.23	Preferred equity	Long	USA
TPH Tri Pointe Homes, Inc.	11.34 mm	11.46 mm principal	0.23	Debt	Long	USA
CUSHMAN and WAKEFIELD US BORROWER LLC 6.75% 05/15/2028 144A	11.23 mm	11.17 mm principal	0.23	Debt	Long	USA
BX TR 2022-LBA6 TSFR1M+420 01/15/2039 144A	11.18 mm	11.34 mm principal	0.23	ABS-mortgage backed security	Long	USA
EG GLOBAL FINANCE PLC 12% 11/30/2028 144A	11.12 mm	10.00 mm principal	0.22	Debt	Long	UK
BBCMS MTG TR 2023-C22 7.363626% 11/15/2056	11.12 mm	10.00 mm principal	0.22	ABS-mortgage backed security	Long	USA
KENNEDY-WILSON INC 4.75% 03/01/2029	11.07 mm	12.08 mm principal	0.22	Debt	Long	USA
CUBE CubeSmart	11.06 mm	231.10 k shares	0.22	Common equity	Long	USA
BX COMMERCIAL MORTGAGE TRUST 2021 VINO G TSFR1M+406.681 82 05/15/2038 144A	11.03 mm	11.19 mm principal	0.22	ABS-mortgage backed security	Long	USA
HILTON DOMESTIC OPERATING CO INC 4% 05/01/2031 144A	10.93 mm	12.00 mm principal	0.22	Debt	Long	USA
BBCMS MTG TR 2023-C22 VAR 11/15/2056	10.86 mm	10.00 mm principal	0.22	ABS-mortgage backed security	Long	USA
MSWF COMMERCIAL MORTGAGE TRUST 23-2 B 7.252% 12/15/2056	10.71 mm	10.00 mm principal	0.22	ABS-mortgage backed security	Long	USA
BMO 2023-5C2 MORTGAGE TRUST CSTR 11/15/2056	10.67 mm	10.00 mm principal	0.22	ABS-mortgage backed security	Long	USA
SREIT TR 2021-MFP2 TSFR1M+402.998 55 11/15/2036 144A	10.64 mm	10.87 mm principal	0.21	ABS-mortgage backed security	Long	USA
MSWF COMMERCIAL MORTGAGE TRUST 23-2 6.491% 12/15/2056	10.61 mm	10.00 mm principal	0.21	ABS-mortgage backed security	Long	USA
BENCHMARK 2020-B18 MORTGAGE TRUST 4.534% 07/15/2053 144A	10.58 mm	11.38 mm principal	0.21	ABS-mortgage backed security	Long	USA
BENCHMARK 2023-V3 MTG TR 7.0967% 07/15/2056	10.52 mm	10.00 mm principal	0.21	ABS-mortgage backed security	Long	USA
EGP EastGroup Properties, Inc.	10.43 mm	60.90 k shares	0.21	Common equity	Long	USA
VICI PROPERTIES LP 5.625% 05/15/2052	10.33 mm	11.00 mm principal	0.21	Debt	Long	USA
CONE TR 2024-DFW1 E TSFR1M+388.79 08/15/2026 144A	10.19 mm	10.20 mm principal	0.21	ABS-mortgage backed security	Long	USA
PUBLIC STORAGE 5.1% 08/01/2033	10.06 mm	10.00 mm principal	0.20	Debt	Long	USA
Hudson Pacific Properties, Inc.	10.01 mm	686.20 k shares	0.20	Preferred equity	Long	USA
BRIXMOR OPERATING PARTNERSHIP LP 5.5% 02/15/2034	10.01 mm	10.00 mm principal	0.20	Debt	Long	USA
BX 2021-VOLT F TSFR1M+251.448 09/15/2036 144A	9.96 mm	10.00 mm principal	0.20	ABS-mortgage backed security	Long	USA
RETAINED VANTAGE DATA CTRS ISSUER LLC / VANTAGE DATA CTRS CDA QC4 LTD PARTNERSHIP 6% 09/15/2049 144A	9.95 mm	10.15 mm principal	0.20	ABS-collateralized bond/debt obligation	Long	USA
CQP HOLDCO TERM B 1LN 12/31/2030	9.94 mm	9.95 mm principal	0.20	Loan	Long	USA
EXTRA SPACE STORAGE LP 2.35% 03/15/2032	9.88 mm	12.00 mm principal	0.20	Debt	Long	USA
FR First Industrial Realty Trust, Inc.	9.78 mm	186.40 k shares	0.20	Common equity	Long	USA
NNN National Retail Properties, Inc.	9.77 mm	9.57 mm principal	0.20	Debt	Long	USA
AMERICOLD REALTY OPERATING PARTNERSHIP LP 5.409% 09/12/2034	9.75 mm	10.00 mm principal	0.20	Debt	Long	USA
BX COML MTG TR 2024-XL4 D TSFR1M+353.903 02/15/2039 144A	9.73 mm	9.72 mm principal	0.20	ABS-mortgage backed security	Long	USA
PROLOGIS LP 5.25% 06/15/2053	9.71 mm	10.00 mm principal	0.20	Debt	Long	USA
CITIGROUP COMMERCIAL MORTGAGE TRUST 2023-SMRT C 6.43808% 06/10/2028 144A	9.71 mm	9.75 mm principal	0.20	ABS-mortgage backed security	Long	USA
INN Summit Hotel Properties, Inc.	9.59 mm	457.60 k shares	0.19	Preferred equity	Long	USA
UDR UDR, Inc.	9.58 mm	227.10 k shares	0.19	Common equity	Long	USA
SHR TR 2024-LXRY D TSFR1M+350 10/15/2041 144A	9.41 mm	9.38 mm principal	0.19	ABS-mortgage backed security	Long	USA
XHR LP 4.875% 06/01/2029 144A	9.39 mm	10.00 mm principal	0.19	Debt	Long	USA
NEW FORTRESS ENERGY TERM B 1LN 10/30/2028	9.35 mm	9.93 mm principal	0.19	Loan	Long	USA
EXTRA SPACE STORAGE LP 5.9% 01/15/2031	9.32 mm	9.00 mm principal	0.19	Debt	Long	USA
ABR Arbor Realty Trust, Inc.	9.32 mm	447.54 k shares	0.19	Preferred equity	Long	USA
SIMON PROPERTY GROUP LP 5.85% 03/08/2053	9.32 mm	9.00 mm principal	0.19	Debt	Long	USA
MORGAN STANLEY CAP I TR 2024-BPR2 7.291% 05/05/2029 144A	9.26 mm	8.97 mm principal	0.19	ABS-mortgage backed security	Long	USA
EQIX Equinix, Inc.	9.24 mm	10.00 mm principal	0.19	Debt	Long	USA
DLR Digital Realty Trust, Inc.	9.21 mm	51.70 k shares	0.19	Common equity	Long	USA
BENCHMARK 2022-B34 MORTGAGE TRUST 3.786% 04/15/2055	9.13 mm	10.17 mm principal	0.18	ABS-mortgage backed security	Long	USA
SUN CMNTYS OPER LTD PRTNRSHP 5.5% 01/15/2029	9.08 mm	9.00 mm principal	0.18	Debt	Long	USA
KITE REALTY GROUP LP 5.5% 03/01/2034	9.07 mm	9.01 mm principal	0.18	Debt	Long	USA
TWO Two Harbors Investment Corp.	9.00 mm	363.53 k shares	0.18	Preferred equity	Long	USA
STWD TR 2021-LIH TSFR1M+424.7 11/15/2036 144A	8.95 mm	9.18 mm principal	0.18	ABS-mortgage backed security	Long	USA
GS MTG SECS CORP TR 2023-SHIP CSTR 09/15/2038 144A	8.86 mm	9.00 mm principal	0.18	ABS-mortgage backed security	Long	USA
DTP COML MTG TR 2023-STE2 C CSTR 01/15/2041 144A	8.78 mm	8.80 mm principal	0.18	ABS-mortgage backed security	Long	USA
HOME PARTNERS AMER 2021-3 TR 4.242% 01/17/2041 144A	8.70 mm	9.85 mm principal	0.18	ABS-collateralized bond/debt obligation	Long	USA
OPEN TR 2023-AIR TSFR1M+668.387 10/15/2028 144A	8.69 mm	8.64 mm principal	0.18	ABS-mortgage backed security	Long	USA
KIM Kimco Realty Corporation	8.68 mm	9.00 mm principal	0.17	Debt	Long	USA
GOOD Gladstone Commercial Corporation	8.65 mm	391.00 k shares	0.17	Preferred equity	Long	USA
VICI PROPERTIES LP 6.125% 04/01/2054	8.59 mm	8.53 mm principal	0.17	Debt	Long	USA
GNL Global Net Lease, Inc.	8.51 mm	379.84 k shares	0.17	Preferred equity	Long	USA
CUBESMART LP 2.5% 02/15/2032	8.43 mm	10.00 mm principal	0.17	Debt	Long	USA
PEB Pebblebrook Hotel Trust	8.42 mm	372.99 k shares	0.17	Preferred equity	Long	USA
SWITCH ABS ISSUER LLC 10.033% 06/25/2054 144A	8.28 mm	8.00 mm principal	0.17	ABS-collateralized bond/debt obligation	Long	USA
AMERICAN HOMES 4 RENT 2015-SFR2 TR 6.07% 10/17/2052 144A	8.28 mm	8.26 mm principal	0.17	ABS-collateralized bond/debt obligation	Long	USA
JPMBB 2014-C23 UH5 4.7094% 09/15/2047 144A	8.26 mm	8.64 mm principal	0.17	ABS-mortgage backed security	Long	USA
BX 2024 VLT4 F TSFR1M+393.788 07/15/2029 144A	8.25 mm	8.25 mm principal	0.17	ABS-mortgage backed security	Long	USA
TRICON AMERN HOMES 2018-SFR1 F 4.96% 05/17/2037 144A	8.23 mm	8.28 mm principal	0.17	ABS-collateralized bond/debt obligation	Long	USA
RHP HOTEL PPTYS LP and RHP FIN CORP 6.5% 04/01/2032 144A	8.09 mm	8.00 mm principal	0.16	Debt	Long	USA
AGNC AGNC Investment Corp.	8.08 mm	320.00 k shares	0.16	Preferred equity	Long	USA
MORGAN STANLEY CAP I TR 2015 4.163% 5/15/48	8.06 mm	10.83 mm principal	0.16	ABS-mortgage backed security	Long	USA
SUGARHOUSE HS GMNG MEZZ LP/CRP 5.875% 05/15/2025 144A	7.98 mm	8.00 mm principal	0.16	Debt	Long	USA
OPG TR 2021-PORT TSFR1M+346.048 6 10/15/2036 144A	7.94 mm	8.11 mm principal	0.16	ABS-mortgage backed security	Long	USA