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 | 9,851,457 | 419,568 | SH | | SOLE | | 267,932 | 0 | 151,636 |
AES Corporation | COM | 00130H105 | 116,403,426 | 5,802,763 | SH | | DFND | 1 | 4,952,130 | 0 | 850,633 |
Agree Realty Corp | COM | 008492100 | 31,868,884 | 423,057 | SH | | DFND | 1 | 393,467 | 0 | 29,590 |
Alexandria Real Estate Equitie | COM | 015271109 | 36,998,344 | 311,565 | SH | | DFND | 1 | 270,343 | 0 | 41,222 |
ALLETE, Inc. | COM | 018522300 | 21,347,604 | 332,569 | SH | | DFND | 1 | 332,569 | 0 | 0 |
Alliant Energy Corporation | COM | 018802108 | 2,178,710 | 35,899 | SH | | SOLE | | 0 | 0 | 35,899 |
Ameren Corp. | COM | 023608102 | 30,398,385 | 347,569 | SH | | DFND | 1 | 271,301 | 0 | 76,268 |
American Homes 4 Rent | COM | 02665T306 | 15,288,242 | 398,235 | SH | | SOLE | | 0 | 0 | 398,235 |
American Tower Corp. | COM | 03027X100 | 174,690,932 | 751,165 | SH | | DFND | 1 | 667,568 | 0 | 83,597 |
American Water Works Co. | COM | 030420103 | 599,584 | 4,100 | SH | | SOLE | | 0 | 0 | 4,100 |
Americold Realty Trust | COM | 03064D108 | 111,992,283 | 3,961,524 | SH | | DFND | 1 | 3,249,754 | 0 | 711,770 |
Atlantica Sustainable Infrastr | COM | G0751N103 | 34,385,512 | 1,564,400 | SH | | DFND | 1 | 1,564,400 | 0 | 0 |
Atmos Energy Corp. | COM | 049560105 | 80,583,991 | 580,953 | SH | | DFND | 1 | 575,453 | 0 | 5,500 |
AvalonBay Communities Inc. | COM | 053484101 | 94,173,196 | 418,083 | SH | | SOLE | | 270,155 | 0 | 147,928 |
Boston Properties Inc. | COM | 101121101 | 12,198,058 | 151,604 | SH | | SOLE | | 0 | 0 | 151,604 |
Brixmor Property Group | COM | 11120U105 | 98,794,235 | 3,546,096 | SH | | DFND | 1 | 2,944,565 | 0 | 601,531 |
Broadstone Net Lease Inc | COM | 11135E207 | 47,724,988 | 2,518,469 | SH | | DFND | 1 | 2,073,388 | 0 | 445,081 |
Brookfield Infrastructure Part | COM | G16252101 | 24,088,353 | 687,453 | SH | | DFND | 1 | 687,453 | 0 | 0 |
California Water Service Group | COM | 130788102 | 33,196,954 | 612,264 | SH | | DFND | 1 | 490,080 | 0 | 122,184 |
Camden Property Trust | COM | 133131102 | 27,826,615 | 225,262 | SH | | DFND | 1 | 70,795 | 0 | 154,467 |
CenterPoint Energy Inc. | COM | 15189T107 | 46,894,127 | 1,593,954 | SH | | DFND | 1 | 1,580,913 | 0 | 13,041 |
Centerspace | COM | 15202L107 | 1,635,750 | 23,212 | SH | | SOLE | | 0 | 0 | 23,212 |
Chesapeake Utilities Corporati | COM | 165303108 | 400,697 | 3,227 | SH | | DFND | 1 | 3,227 | 0 | 0 |
Clearway Energy Inc. Class C | COM | 18539C204 | 18,213,366 | 593,656 | SH | | DFND | 1 | 593,656 | 0 | 0 |
CMS Energy Corporation | COM | 125896100 | 84,978,061 | 1,203,144 | SH | | DFND | 1 | 886,784 | 0 | 316,360 |
Constellation Energy Corp | COM | 21037T109 | 45,475,158 | 174,891 | SH | | DFND | 1 | 144,753 | 0 | 30,138 |
COPT Defense Properties | COM | 22002T108 | 11,991,481 | 395,367 | SH | | DFND | 1 | 259,213 | 0 | 136,154 |
Cousins Properties Inc. | COM | 222795502 | 2,802,074 | 95,050 | SH | | SOLE | | 0 | 0 | 95,050 |
Crown Castle Inc | COM | 22822V101 | 87,453,561 | 737,196 | SH | | DFND | 1 | 737,196 | 0 | 0 |
CSX Corporation | COM | 126408103 | 124,255,514 | 3,598,480 | SH | | DFND | 1 | 3,056,261 | 0 | 542,219 |
CubeSmart | COM | 229663109 | 170,972,693 | 3,176,160 | SH | | DFND | 1 | 2,292,358 | 0 | 883,802 |
Digital Realty Trust Inc. | COM | 253868103 | 13,226,690 | 81,732 | SH | | DFND | 1 | 10,984 | 0 | 70,748 |
Dominion Energy Inc. | COM | 25746U109 | 21,353,058 | 369,494 | SH | | DFND | 1 | 369,494 | 0 | 0 |
DTE Energy Co. | COM | 233331107 | 863,942 | 6,728 | SH | | DFND | 1 | 6,728 | 0 | 0 |
Duke Energy Corp. | COM | 26441C204 | 1,852,756 | 16,069 | SH | | SOLE | | 0 | 0 | 16,069 |
ELME Communities | COM | 939653101 | 22,410,979 | 1,274,075 | SH | | DFND | 1 | 597,610 | 0 | 676,465 |
Empire State Realty Trust Inc. | COM | 292104106 | 28,825,329 | 2,601,564 | SH | | DFND | 1 | 2,069,893 | 0 | 531,671 |
Entergy Corp. | COM | 29364G103 | 5,635,277 | 42,818 | SH | | SOLE | | 0 | 0 | 42,818 |
Enterprise Products Partners L | COM | 293792107 | 31,789,401 | 1,092,044 | SH | | DFND | 1 | 1,092,044 | 0 | 0 |
Equinix Inc | COM | 29444U700 | 487,573,384 | 549,298 | SH | | DFND | 1 | 465,247 | 0 | 84,051 |
Equity Residential | COM | 29476L107 | 69,029,856 | 927,073 | SH | | DFND | 1 | 551,983 | 0 | 375,090 |
Essential Properties Realty | COM | 29670E111 | 16,222,753 | 475,044 | SH | | SOLE | | 301,414 | 0 | 173,630 |
Essential Utilities | COM | 29670G102 | 55,274,513 | 1,433,096 | SH | | DFND | 1 | 1,220,224 | 0 | 212,872 |
Essex Property Trust Inc. | COM | 297178105 | 53,772,348 | 182,020 | SH | | SOLE | | 110,037 | 0 | 71,983 |
Evergy Inc. | COM | 30034W106 | 68,243,431 | 1,100,523 | SH | | DFND | 1 | 1,093,477 | 0 | 7,046 |
Eversource Energy | COM | 30040W108 | 2,858,849 | 42,011 | SH | | DFND | 1 | 4,545 | 0 | 37,466 |
Exelon Corp. | COM | 30161N101 | 6,575,669 | 162,162 | SH | | SOLE | | 36,252 | 0 | 125,910 |
Extra Space Storage Inc. | COM | 30225T102 | 102,675,686 | 569,819 | SH | | DFND | 1 | 339,852 | 0 | 229,967 |
Federal Realty Investment Trus | COM | 313745101 | 86,373,972 | 751,274 | SH | | DFND | 1 | 386,112 | 0 | 365,162 |
First Industrial Realty Trust | COM | 32054K103 | 17,738,159 | 316,866 | SH | | SOLE | | 0 | 0 | 316,866 |
Four Corners Property Trust | COM | 35086T109 | 31,080,383 | 1,060,402 | SH | | DFND | 1 | 808,107 | 0 | 252,295 |
Gaming and Leisure Properties | COM | 36467J108 | 977,704 | 19,003 | SH | | SOLE | | 0 | 0 | 19,003 |
Getty Realty Corp. | COM | 374297109 | 18,503,909 | 581,701 | SH | | DFND | 1 | 425,682 | 0 | 156,019 |
Healthcare Realty Trust Inc | COM | 42226K105 | 50,279,547 | 2,770,223 | SH | | DFND | 1 | 2,368,105 | 0 | 402,118 |
Healthpeak Properties Inc. | COM | 42250P103 | 111,456,076 | 4,873,462 | SH | | DFND | 1 | 3,490,334 | 0 | 1,383,128 |
Highwoods Properties Inc. | COM | 431284108 | 13,660,653 | 407,659 | SH | | SOLE | | 318,252 | 0 | 89,407 |
Hilton Worldwide Holdings Inc. | COM | 43300A203 | 10,134,163 | 43,966 | SH | | SOLE | | 37,114 | 0 | 6,852 |
Host Hotels & Resorts Inc. | COM | 44107P104 | 35,796,974 | 2,033,919 | SH | | DFND | 1 | 1,274,291 | 0 | 759,628 |
Hudson Pacific Properties | COM | 444097109 | 2,173,136 | 454,631 | SH | | SOLE | | 454,631 | 0 | 0 |
Hyatt Hotels Corp. - Cl A | COM | 448579102 | 40,634,965 | 266,984 | SH | | DFND | 1 | 239,221 | 0 | 27,763 |
Independence Realty Trust Inc | COM | 45378A106 | 19,646,565 | 958,369 | SH | | SOLE | | 553,116 | 0 | 405,253 |
Invitation Homes Inc | COM | 46187W107 | 195,771,700 | 5,552,232 | SH | | DFND | 1 | 3,706,519 | 0 | 1,845,713 |
Iron Mountain Incorporated | COM | 46284V101 | 24,893,934 | 209,492 | SH | | DFND | 1 | 155,383 | 0 | 54,109 |
Kilroy Realty Corp. | COM | 49427F108 | 6,501,871 | 168,007 | SH | | SOLE | | 0 | 0 | 168,007 |
Kite Realty Group Trust | COM | 49803T300 | 5,006,719 | 188,506 | SH | | DFND | 1 | 114,495 | 0 | 74,011 |
LINEAGE INC | COM | 53566V106 | 42,756,368 | 545,501 | SH | | DFND | 1 | 467,022 | 0 | 78,479 |
Macerich Co. | COM | 554382101 | 26,720,214 | 1,464,924 | SH | | DFND | 1 | 1,200,881 | 0 | 264,043 |
Marriott International Inc. | COM | 571903202 | 19,177,998 | 77,144 | SH | | DFND | 1 | 67,184 | 0 | 9,960 |
Medical Properties Trust | COM | 58463J304 | 3,335,085 | 570,100 | SH | | DFND | 1 | 570,100 | 0 | 0 |
Mid-America Apt. Comm. | COM | 59522J103 | 6,225,066 | 39,176 | SH | | SOLE | | 0 | 0 | 39,176 |
National Storage Affiliates Tr | COM | 637870106 | 15,234,478 | 316,068 | SH | | SOLE | | 316,068 | 0 | 0 |
Netstreit Corp | COM | 64119V303 | 11,324,604 | 685,094 | SH | | DFND | 1 | 551,983 | 0 | 133,111 |
Nextera Energy Inc | COM | 65339F101 | 37,868,257 | 447,986 | SH | | DFND | 1 | 326,017 | 0 | 121,969 |
NextEra Energy Partners LP | COM | 65341B106 | 31,999,123 | 1,158,549 | SH | | DFND | 1 | 1,079,695 | 0 | 78,854 |
NiSource Inc. | COM | 65473P105 | 46,876,946 | 1,352,870 | SH | | DFND | 1 | 851,686 | 0 | 501,184 |
NNN REIT Inc. | COM | 637417106 | 40,038,484 | 825,706 | SH | | DFND | 1 | 579,807 | 0 | 245,899 |
OGE Energy Corp. | COM | 670837103 | 27,918,540 | 680,608 | SH | | DFND | 1 | 674,272 | 0 | 6,336 |
Park Hotels & Resorts Inc | COM | 700517105 | 11,289,292 | 800,659 | SH | | SOLE | | 800,659 | 0 | 0 |
PG&E Corp. | COM | 69331C108 | 88,853,458 | 4,494,358 | SH | | DFND | 1 | 3,597,988 | 0 | 896,370 |
Piedmont Office Realty Trust I | COM | 720190206 | 10,659,136 | 1,055,360 | SH | | SOLE | | 816,792 | 0 | 238,568 |
Plains GP Holdings | COM | 72651A207 | 23,755,055 | 1,284,057 | SH | | DFND | 1 | 1,276,869 | 0 | 7,188 |
Portland General Electric Comp | COM | 736508847 | 66,537,076 | 1,389,083 | SH | | DFND | 1 | 1,161,094 | 0 | 227,989 |
PPL Corp. | COM | 69351T106 | 61,969,922 | 1,873,335 | SH | | DFND | 1 | 1,855,044 | 0 | 18,291 |
ProLogis Inc. | COM | 74340W103 | 185,332,316 | 1,467,630 | SH | | DFND | 1 | 696,166 | 0 | 771,464 |
Public Storage | COM | 74460D109 | 141,855,447 | 389,852 | SH | | DFND | 1 | 236,430 | 0 | 153,422 |
Realty Income Corp | COM | 756109104 | 382,518,872 | 6,031,518 | SH | | DFND | 1 | 4,709,011 | 0 | 1,322,507 |
Regency Centers Corporation | COM | 758849103 | 112,628,600 | 1,559,305 | SH | | DFND | 1 | 945,741 | 0 | 613,564 |
Retail Opportunity Investments | COM | 76131N101 | 25,999,755 | 1,652,877 | SH | | DFND | 1 | 1,288,665 | 0 | 364,212 |
Rexford Industrial Realty, Inc | COM | 76169C100 | 188,054,151 | 3,737,908 | SH | | DFND | 1 | 2,585,662 | 0 | 1,152,246 |
SBA Communications Corp. | COM | 78410G104 | 33,164,850 | 137,785 | SH | | DFND | 1 | 127,558 | 0 | 10,227 |
Sempra Energy | COM | 816851109 | 46,993,620 | 561,923 | SH | | DFND | 1 | 446,705 | 0 | 115,218 |
Simon Property Group Inc. | COM | 828806109 | 284,808,672 | 1,685,059 | SH | | DFND | 1 | 1,317,624 | 0 | 367,435 |
STAG Industrial, Inc. | COM | 85254J102 | 33,888,098 | 866,925 | SH | | SOLE | | 67,318 | 0 | 799,607 |
Sun Communities Inc. | COM | 866674104 | 168,542,321 | 1,247,076 | SH | | DFND | 1 | 1,038,735 | 0 | 208,341 |
Sunstone Hotel Investors Inc. | COM | 867892101 | 39,581,173 | 3,835,385 | SH | | DFND | 1 | 3,339,440 | 0 | 495,945 |
Tanger Inc. | COM | 875465106 | 236,905 | 7,140 | SH | | SOLE | | 0 | 0 | 7,140 |
Targa Resources Corp. | COM | 87612G101 | 81,118,065 | 548,058 | SH | | DFND | 1 | 542,554 | 0 | 5,504 |
UDR Inc. | COM | 902653104 | 76,725,209 | 1,692,219 | SH | | DFND | 1 | 1,013,992 | 0 | 678,227 |
Union Pacific Corp | COM | 907818108 | 3,878,609 | 15,736 | SH | | SOLE | | 2,204 | 0 | 13,532 |
Uniti Group Inc | COM | 91325V108 | 7,753,872 | 1,374,800 | SH | | DFND | 1 | 1,374,800 | 0 | 0 |
Urban Edge Properties | COM | 91704F104 | 1,169,327 | 54,667 | SH | | DFND | 1 | 29,419 | 0 | 25,248 |
Ventas Inc. | COM | 92276F100 | 18,982,801 | 296,005 | SH | | SOLE | | 59,776 | 0 | 236,229 |
Veris Residential Inc | COM | 554489104 | 11,481,855 | 642,881 | SH | | DFND | 1 | 579,954 | 0 | 62,927 |
Vici Properties Inc. | COM | 925652109 | 139,537,622 | 4,189,061 | SH | | DFND | 1 | 3,256,129 | 0 | 932,932 |
Vornado Realty Trust | COM | 929042109 | 3,412,946 | 86,623 | SH | | SOLE | | 29,772 | 0 | 56,851 |
WEC Energy Group Inc. | COM | 92939U106 | 131,172,592 | 1,363,824 | SH | | DFND | 1 | 1,096,315 | 0 | 267,509 |
Welltower Inc. | COM | 95040Q104 | 211,497,750 | 1,651,939 | SH | | DFND | 1 | 882,690 | 0 | 769,249 |
Weyerhaeuser Co. | COM | 962166104 | 3,834,611 | 113,249 | SH | | DFND | 1 | 113,249 | 0 | 0 |
Xcel Energy Inc. | COM | 98389B100 | 92,703,863 | 1,419,661 | SH | | DFND | 1 | 1,153,360 | 0 | 266,301 |
Nextera Energy Inc | UNIT | 65339F713 | 31,802,960 | 686,000 | SH | | DFND | 1 | 686,000 | 0 | 0 |