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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | Welltower Inc. | $54.4M | 275099 | 8.83% |
| 2 | American Tower Corporation | $38.2M | 221379 | 6.20% |
| 3 | EastGroup Properties, Inc. | $28.4M | 153375 | 4.61% |
| 4 | Ventas, Inc. | $27.1M | 331765 | 4.40% |
| 5 | Realty Income Corporation | $20.6M | 337052 | 3.35% |
| 6 | Extra Space Storage Inc. | $15.2M | 115717 | 2.46% |
| 7 | Crown Castle Inc. | $12.9M | 158153 | 2.09% |
| 8 | Essex Property Trust, Inc. | $12.1M | 50157 | 1.97% |
| 9 | Public Storage | $11.5M | 42346 | 1.86% |
| 10 | Regency Centers Corporation | $11.3M | 149781 | 1.84% |
| 11 | Equity LifeStyle Properties, Inc. | $11.3M | 181359 | 1.84% |
| 12 | Agree Realty Corporation | $10.8M | 143159 | 1.75% |
| 13 | AvalonBay Communities, Inc. | $9.6M | 58481 | 1.55% |
| 14 | Weyerhaeuser Company | $9.3M | 379959 | 1.51% |
| 15 | CareTrust REIT, Inc. | $8.6M | 235719 | 1.40% |
| 16 | Host Hotels & Resorts, Inc. | $7.9M | 411672 | 1.28% |
| 17 | W. P. Carey Inc. | $7.7M | 112789 | 1.24% |
| 18 | NPK International Inc. | $7.6M | 527684 | 1.24% |
| 19 | Mid-America Apartment Communities, Inc. | $7.1M | 58484 | 1.16% |
| 20 | Gorman-Rupp Company | $6.7M | 107904 | 1.09% |
| 21 | Simon Property Group, Inc. | $6.3M | 33783 | 1.02% |
| 22 | AZZ Inc. | $6.3M | 50107 | 1.02% |
| 23 | Banco Latinoamericano de Comercio Exterior, S.A. Class E | $6.1M | 119944 | 0.99% |
| 24 | EZCORP, Inc. Class A | $5.9M | 234171 | 0.96% |
| 25 | First Industrial Realty Trust, Inc. | $5.9M | 102051 | 0.96% |
| 26 | Axogen, Inc. | $5.6M | 167910 | 0.90% |
| 27 | Strata Critical Medical, Inc. Class A | $5.4M | 1300317 | 0.88% |
| 28 | Innoviva, Inc. | $5.3M | 229338 | 0.87% |
| 29 | Williams Companies, Inc. | $5.1M | 69542 | 0.82% |
| 30 | Huntington Ingalls Industries, Inc. | $4.9M | 12968 | 0.80% |
| 31 | NWPX Infrastructure Inc. | $4.9M | 63256 | 0.80% |
| 32 | InterDigital, Inc. | $4.9M | 16073 | 0.79% |
| 33 | EPR Properties | $4.8M | 96027 | 0.78% |
| 34 | Sabra Health Care REIT, Inc. | $4.8M | 248230 | 0.77% |
| 35 | Hawkins, Inc. | $4.7M | 30593 | 0.76% |
| 36 | Valero Energy Corporation | $4.7M | 18992 | 0.76% |
| 37 | Astec Industries, Inc. | $4.6M | 85783 | 0.75% |
| 38 | NAPCO Security Technologies, Inc. | $4.5M | 113389 | 0.72% |
| 39 | Graham Corporation | $4.5M | 56565 | 0.72% |
| 40 | Boeing Company Pfd Registered shs Series A | $4.3M | 66505 | 0.70% |
| 41 | Royalty Pharma Plc Class A | $4.3M | 88738 | 0.69% |
| 42 | Camden Property Trust | $4.3M | 43522 | 0.69% |
| 43 | Kite Realty Group Trust | $4.2M | 169027 | 0.67% |
| 44 | Omega Healthcare Investors, Inc. | $4.0M | 91133 | 0.65% |
| 45 | Albemarle Corporation Depository Shs Repr Conv Pfd Registered Shs | $3.9M | 54468 | 0.64% |
| 46 | ONEOK, Inc. | $3.7M | 41267 | 0.61% |
| 47 | Daktronics, Inc. | $3.7M | 188857 | 0.60% |
| 48 | DHT Holdings, Inc. | $3.7M | 201383 | 0.60% |
| 49 | AbbVie, Inc. | $3.7M | 16800 | 0.59% |
| 50 | Prologis, Inc. | $3.6M | 27395 | 0.59% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.