Q3 2025 Holdings
Filed 2025-10-29 | 34 holdings | $68.1M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| EPR Pptys | CONV PFD 9% SR E | 26884U307 | $8.8M | 279,569 | 13.0% |
| RLJ Lodging TR | CUM CONV PFD A | 74965L200 | $7.6M | 300,732 | 11.1% |
| Vici Pptys Inc(VICI) | COM | 925652109 | $5.1M | 157,704 | 7.6% |
| Equinix Inc(EQIX) | COM | 29444U700 | $3.9M | 4,945 | 5.7% |
| Pebblebrook Hotel TR | 6.375 PFD SER E | 70509V605 | $3.7M | 185,539 | 5.5% |
| American Tower Corp New(AMT) | COM | 03027X100 | $3.7M | 19,351 | 5.5% |
| Pebblebrook Hotel TR | 6.3 CUM PFD SR F | 70509V704 | $3.6M | 179,745 | 5.3% |
| Equity Lifestyle Pptys Inc(ELS) | COM | 29472R108 | $2.8M | 45,755 | 4.1% |
| Rithm Ppty TR Inc | 9.875 FXD-FLT C | 38983D862 | $2.6M | 102,975 | 3.8% |
| Braemar Hotels & Resorts Inc | 5.5 CUM CV PFD B | 10482B200 | $2.2M | 134,177 | 3.2% |
| Diversified Healthcare TR(DHC) | COM SH BEN INT | 25525P107 | $2.1M | 468,214 | 3.0% |
| LXP Industrial Trust | PFD CONV SER C | 529043309 | $1.9M | 39,469 | 2.8% |
| Brixmor Ppty Group Inc(BRX) | COM | 11120U105 | $1.7M | 61,771 | 2.5% |
| Community Healthcare TR Inc(CHCT) | COM | 20369C106 | $1.6M | 104,882 | 2.4% |
| UMH Pptys Inc(UMH) | COM | 903002103 | $1.5M | 100,697 | 2.2% |
| Vertiv Holdings Co(VRT) | COM CL A | 92537N108 | $1.4M | 9,369 | 2.1% |
| Caesars Entertainment Inc NE(CZR) | COM | 12769G100 | $1.2M | 43,371 | 1.7% |
| CTO Rlty Growth Inc New(CTO) | COM | 22948Q101 | $1.1M | 69,766 | 1.7% |
| Iron MTN Inc del(IRM) | COM | 46284V101 | $1.1M | 11,073 | 1.7% |
| Ftai Aviation LTD(FTAI) | SHS | G3730V105 | $1.1M | 6,606 | 1.6% |
| Crown Castle Inc(CCI) | COM | 22822V101 | $1.1M | 11,285 | 1.6% |
| EPR Pptys | PFD C CV 5.75% | 26884U208 | $925.6K | 36,397 | 1.4% |
| Armour Residential REIT Inc(ARR) | COM SHS | 042315705 | $887.5K | 59,407 | 1.3% |
| Prologis Inc.(PLD) | COM | 74340W103 | $833.1K | 7,275 | 1.2% |
| Simon Ppty Group Inc New(SPG) | COM | 828806109 | $829.3K | 4,419 | 1.2% |
| Realty Income Corp(O) | COM | 756109104 | $818.2K | 13,460 | 1.2% |
| Essex Ppty TR Inc(ESS) | COM | 297178105 | $709.6K | 2,651 | 1.0% |
| Ftai Infrastructure Inc(FIP) | COMMON STOCK | 35953C106 | $646.2K | 148,216 | 0.9% |
| Kite Rlty Group TR(KRG) | COM NEW | 49803T300 | $513.9K | 23,047 | 0.8% |
| Global MED REIT Inc(GMRE) | COM NEW | 37954A303 | $500.5K | 14,846 | 0.7% |
| Starwood Ppty TR Inc(STWD) | COM | 85571B105 | $497.2K | 25,667 | 0.7% |
| Digital Rlty TR Inc(DLR) | COM | 253868103 | $478.5K | 2,768 | 0.7% |
| Healthpeak Properties Inc(DOC) | COM | 42250P103 | $478.5K | 24,987 | 0.7% |
| Cadiz Inc(CDZI) | COM NEW | 127537207 | $71.3K | 15,113 | 0.1% |