Portfolio EQ6010LO2W

Asset	Asset Class	Action	Weight	Entry Price	Current Price	PnL	Entry Date
UNIT Uniti Group Inc.	Equity	Buy	9.72%	5.28	5.24	-0.76%	2024-09-06
MPW Medical Properties Trust, Inc.	Equity	Buy	9.54%	6.37	6.24	-2.04%	2024-09-16
BDN Brandywine Realty Trust	Equity	Buy	9.78%	5.36	5.38	0.37%	2024-09-16
ESRT Empire State Realty Trust, Inc.	Equity	Buy	9.99%	10.6	10.87	2.55%	2024-09-16
KW Kennedy-Wilson Holdings, Inc.	Equity	Buy	9.54%	11.46	11.22	-2.09%	2024-09-16
PGRE Paramount Group, Inc.	Equity	Buy	9.72%	5.09	5.08	-0.2%	2024-09-17
INN Summit Hotel Properties, Inc.	Equity	Buy	9.95%	6.4	6.54	2.19%	2024-09-17
FOR Forestar Group Inc.	Equity	Buy	10.08%	31.9	33.02	3.51%	2024-09-17
AXR AMREP Corporation	Equity	Buy	9.94%	26.13	26.67	2.07%	2024-09-17

2024-09-17 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
UNIT Uniti Group Inc.	Buy	9.97%	1.33%	2024-09-06
MPW Medical Properties Trust, Inc.	Buy	9.76%	-0.31%	2024-09-16
BDN Brandywine Realty Trust	Buy	9.91%	1.31%	2024-09-16
ESRT Empire State Realty Trust, Inc.	Buy	9.8%	0.09%	2024-09-16
KW Kennedy-Wilson Holdings, Inc.	Buy	9.62%	-1.66%	2024-09-16
PGRE Paramount Group, Inc.	Buy	9.79%	0%	2024-09-17
INN Summit Hotel Properties, Inc.	Buy	9.79%	0%	2024-09-17
FOR Forestar Group Inc.	Buy	9.79%	0%	2024-09-17
AXR AMREP Corporation	Buy	9.79%	0%	2024-09-17

The percentage of cash held in the portfolio is: 11.79%

New Assets Added

PGRE
INN
FOR
AXR

Assets Removed

None

Assets Rebalanced

None

2024-09-16 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
UNIT Uniti Group Inc.	Buy	10.25%	4.55%	2024-09-06
MPW Medical Properties Trust, Inc.	Buy	9.75%	0%	2024-09-16
BDN Brandywine Realty Trust	Buy	9.75%	0%	2024-09-16
ESRT Empire State Realty Trust, Inc.	Buy	9.75%	0%	2024-09-16
KW Kennedy-Wilson Holdings, Inc.	Buy	9.75%	0%	2024-09-16

The percentage of cash held in the portfolio is: 50.75%

New Assets Added

MPW
BDN
ESRT
KW

Assets Removed

None

Assets Rebalanced

None

2024-09-10 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
UNIT Uniti Group Inc.	Buy	9.7%	-1.7%	2024-09-06

The percentage of cash held in the portfolio is: 90.3%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
ESRT	Sell All	-2.21%

Assets Rebalanced

None

2024-09-09 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ESRT Empire State Realty Trust, Inc.	Buy	9.71%	-1.73%	2024-08-27
UNIT Uniti Group Inc.	Buy	9.81%	-0.38%	2024-09-06

The percentage of cash held in the portfolio is: 80.48%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
HASI	Sell All	-3.46%

Assets Rebalanced

None

2024-09-06 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.78%	-0.36%	2024-08-26
ESRT Empire State Realty Trust, Inc.	Buy	9.9%	0.86%	2024-08-27
UNIT Uniti Group Inc.	Buy	9.79%	0%	2024-09-06

The percentage of cash held in the portfolio is: 70.52%

New Assets Added

UNIT

Assets Removed

Asset	Action	Perf %
MLP	Sell All	3.32%

Assets Rebalanced

None

2024-08-29 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.6%	-2.41%	2024-08-26
ESRT Empire State Realty Trust, Inc.	Buy	9.99%	1.53%	2024-08-27
MLP Maui Land & Pineapple Company, Inc.	Buy	10.13%	2.97%	2024-08-27

The percentage of cash held in the portfolio is: 70.29%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
AHT	Sell All	-5.77%

Assets Rebalanced

None

2024-08-27 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AHT Ashford Hospitality Trust, Inc.	Buy	9.71%	-0.96%	2024-08-26
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.82%	0.09%	2024-08-26
ESRT Empire State Realty Trust, Inc.	Buy	9.81%	0%	2024-08-27
MLP Maui Land & Pineapple Company, Inc.	Buy	9.81%	0%	2024-08-27

The percentage of cash held in the portfolio is: 60.85%

New Assets Added

ESRT
MLP

Assets Removed

None

Assets Rebalanced

None

2024-08-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AHT Ashford Hospitality Trust, Inc.	Buy	9.8%	0%	2024-08-26
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.8%	0%	2024-08-26

The percentage of cash held in the portfolio is: 80.4%

New Assets Added

AHT
HASI

Assets Removed

None

Assets Rebalanced

None

2024-08-15 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
DLR	Sell All	1.13%

Assets Rebalanced

None

2024-08-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DLR Digital Realty Trust, Inc.	Buy	9.52%	-1.57%	2024-08-01

The percentage of cash held in the portfolio is: 90.48%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
PDM	Sell All	-1.43%

Assets Rebalanced

None

2024-08-07 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PDM Piedmont Office Realty Trust, Inc.	Buy	10.24%	-0.72%	2024-07-25
DLR Digital Realty Trust, Inc.	Buy	9.6%	-0.58%	2024-08-01

The percentage of cash held in the portfolio is: 80.15%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
DEI	Sell All	-0.97%

Assets Rebalanced

None

2024-08-06 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DEI Douglas Emmett, Inc.	Buy	10.42%	-3.96%	2024-07-24
PDM Piedmont Office Realty Trust, Inc.	Buy	10.06%	-3.34%	2024-07-25
DLR Digital Realty Trust, Inc.	Buy	9.41%	-3.36%	2024-08-01

The percentage of cash held in the portfolio is: 70.1%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
OPI	Sell All	-16.54%
DHC	Sell All	-8.26%
VNO	Sell All	-7.02%
OUT	Sell All	-11.23%

Assets Rebalanced

None

2024-08-02 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DEI Douglas Emmett, Inc.	Buy	10.39%	1.95%	2024-07-24
DHC Diversified Healthcare Trust	Buy	9.89%	-2.95%	2024-07-24
PDM Piedmont Office Realty Trust, Inc.	Buy	10.14%	3.82%	2024-07-25
VNO Vornado Realty Trust	Buy	9.92%	-0.07%	2024-07-29
OUT Outfront Media Inc.	Buy	10.08%	1.53%	2024-07-29
OPI Office Properties Income Trust	Buy	10.91%	0.38%	2024-07-30
DLR Digital Realty Trust, Inc.	Buy	9.32%	1.87%	2024-08-01

The percentage of cash held in the portfolio is: 29.35%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
EXPI	Sell All	-12.3%
MAC	Sell All	-4.44%
RDFN	Sell All	-8.21%

Assets Rebalanced

None

2024-08-01 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DEI Douglas Emmett, Inc.	Buy	10.41%	4.35%	2024-07-24
DHC Diversified Healthcare Trust	Buy	9.83%	-1.47%	2024-07-24
PDM Piedmont Office Realty Trust, Inc.	Buy	9.88%	3.22%	2024-07-25
VNO Vornado Realty Trust	Buy	9.95%	2.25%	2024-07-29
MAC The Macerich Company	Buy	9.6%	-1.36%	2024-07-29
OUT Outfront Media Inc.	Buy	10.07%	3.51%	2024-07-29
EXPI eXp World Holdings, Inc.	Buy	9.54%	-1.91%	2024-07-29
RDFN Redfin Corporation	Buy	9.78%	0.56%	2024-07-29
OPI Office Properties Income Trust	Buy	9.97%	-6.39%	2024-07-30
DLR Digital Realty Trust, Inc.	Buy	8.96%	0%	2024-08-01

The percentage of cash held in the portfolio is: 2%

New Assets Added

DLR

Assets Removed

Asset	Action	Perf %
SITC	Sell All	-3.5%

Assets Rebalanced

None

2024-07-31 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DEI Douglas Emmett, Inc.	Buy	10.17%	2.4%	2024-07-24
DHC Diversified Healthcare Trust	Buy	9.79%	-1.47%	2024-07-24
PDM Piedmont Office Realty Trust, Inc.	Buy	9.92%	4.18%	2024-07-25
VNO Vornado Realty Trust	Buy	9.75%	0.68%	2024-07-29
MAC The Macerich Company	Buy	9.98%	3.08%	2024-07-29
OUT Outfront Media Inc.	Buy	9.95%	2.74%	2024-07-29
EXPI eXp World Holdings, Inc.	Buy	9.39%	-3.01%	2024-07-29
RDFN Redfin Corporation	Buy	9.94%	2.66%	2024-07-29
OPI Office Properties Income Trust	Buy	9.88%	-6.77%	2024-07-30
SITC SITE Centers Corp.	Buy	9.23%	0%	2024-07-31

The percentage of cash held in the portfolio is: 2%

New Assets Added

SITC

Assets Removed

Asset	Action	Perf %
BRT	Sell All	-2.64%

Assets Rebalanced

None

2024-07-30 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DEI Douglas Emmett, Inc.	Buy	10.06%	1.36%	2024-07-24
DHC Diversified Healthcare Trust	Buy	9.89%	-0.29%	2024-07-24
PDM Piedmont Office Realty Trust, Inc.	Buy	9.75%	2.39%	2024-07-25
BRT BRT Apartments Corp.	Buy	9.33%	-1.45%	2024-07-26
VNO Vornado Realty Trust	Buy	9.78%	1.06%	2024-07-29
MAC The Macerich Company	Buy	9.7%	0.25%	2024-07-29
OUT Outfront Media Inc.	Buy	9.72%	0.45%	2024-07-29
EXPI eXp World Holdings, Inc.	Buy	9.45%	-2.32%	2024-07-29
RDFN Redfin Corporation	Buy	9.74%	0.68%	2024-07-29
OPI Office Properties Income Trust	Buy	10.59%	0%	2024-07-30

The percentage of cash held in the portfolio is: 2%

New Assets Added

OPI

Assets Removed

Asset	Action	Perf %
BDN	Sell All	7.23%

Assets Rebalanced

None

2024-07-29 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
BDN Brandywine Realty Trust	Buy	10.58%	7.87%	2024-07-16
DEI Douglas Emmett, Inc.	Buy	10.09%	2.27%	2024-07-24
DHC Diversified Healthcare Trust	Buy	9.83%	-0.29%	2024-07-24
PDM Piedmont Office Realty Trust, Inc.	Buy	9.87%	4.3%	2024-07-25
BRT BRT Apartments Corp.	Buy	9.57%	1.65%	2024-07-26
VNO Vornado Realty Trust	Buy	9.61%	0%	2024-07-29
MAC The Macerich Company	Buy	9.61%	0%	2024-07-29
OUT Outfront Media Inc.	Buy	9.61%	0%	2024-07-29
EXPI eXp World Holdings, Inc.	Buy	9.61%	0%	2024-07-29
RDFN Redfin Corporation	Buy	9.61%	0%	2024-07-29

The percentage of cash held in the portfolio is: 2%

New Assets Added

VNO
MAC
OUT
EXPI
RDFN

Assets Removed

Asset	Action	Perf %
CLPR	Sell All	6.42%

Assets Rebalanced

None

2024-07-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
CLPR Clipper Realty Inc.	Buy	10.43%	4.55%	2024-07-15
BDN Brandywine Realty Trust	Buy	10.37%	4.04%	2024-07-16
DEI Douglas Emmett, Inc.	Buy	9.82%	-2.01%	2024-07-24
DHC Diversified Healthcare Trust	Buy	9.96%	-0.59%	2024-07-24
PDM Piedmont Office Realty Trust, Inc.	Buy	9.6%	-0.12%	2024-07-25
BRT BRT Apartments Corp.	Buy	9.56%	0%	2024-07-26

The percentage of cash held in the portfolio is: 40.26%

New Assets Added

BRT

Assets Removed

Asset	Action	Perf %
MAC	Sell All	-0.19%
SBAC	Sell All	0.58%

Assets Rebalanced

None

2024-07-25 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SBAC SBA Communications Corporation	Buy	8.9%	-2.1%	2024-07-12
CLPR Clipper Realty Inc.	Buy	10.49%	4.28%	2024-07-15
MAC The Macerich Company	Buy	10.17%	1.21%	2024-07-16
BDN Brandywine Realty Trust	Buy	10.01%	-0.43%	2024-07-16
DEI Douglas Emmett, Inc.	Buy	9.8%	-3.11%	2024-07-24
DHC Diversified Healthcare Trust	Buy	9.84%	-2.65%	2024-07-24
PDM Piedmont Office Realty Trust, Inc.	Buy	9.7%	0%	2024-07-25

The percentage of cash held in the portfolio is: 31.09%

New Assets Added

PDM

Assets Removed

Asset	Action	Perf %
DBRG	Sell All	2.98%
FOR	Sell All	-1.23%

Assets Rebalanced

None

2024-07-24 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DBRG DigitalBridge Group, Inc.	Buy	9.58%	6.7%	2024-07-11
FOR Forestar Group Inc.	Buy	9.23%	2.84%	2024-07-11
SBAC SBA Communications Corporation	Buy	8.78%	-1.21%	2024-07-12
CLPR Clipper Realty Inc.	Buy	10.26%	4.28%	2024-07-15
MAC The Macerich Company	Buy	10.45%	6.32%	2024-07-16
BDN Brandywine Realty Trust	Buy	10.16%	3.4%	2024-07-16
DEI Douglas Emmett, Inc.	Buy	9.89%	0%	2024-07-24
DHC Diversified Healthcare Trust	Buy	9.89%	0%	2024-07-24

The percentage of cash held in the portfolio is: 21.77%

New Assets Added

DEI
DHC

Assets Removed

None

Assets Rebalanced

None

2024-07-23 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DBRG DigitalBridge Group, Inc.	Buy	9.4%	4.69%	2024-07-11
FOR Forestar Group Inc.	Buy	9.5%	5.8%	2024-07-11
SBAC SBA Communications Corporation	Buy	8.84%	-0.5%	2024-07-12
CLPR Clipper Realty Inc.	Buy	10.39%	5.61%	2024-07-15
MAC The Macerich Company	Buy	10.32%	5.04%	2024-07-16
BDN Brandywine Realty Trust	Buy	10%	1.7%	2024-07-16

The percentage of cash held in the portfolio is: 41.55%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
UNIT	Sell All	21.45%
CIO	Sell All	9.34%

Assets Rebalanced

None

2024-07-22 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
UNIT Uniti Group Inc.	Buy	11.29%	21.78%	2024-07-09
CIO City Office REIT, Inc.	Buy	9.83%	6.03%	2024-07-09
DBRG DigitalBridge Group, Inc.	Buy	9.49%	4.32%	2024-07-11
FOR Forestar Group Inc.	Buy	8.99%	-1.16%	2024-07-11
SBAC SBA Communications Corporation	Buy	8.97%	-0.41%	2024-07-12
CLPR Clipper Realty Inc.	Buy	10.69%	7.22%	2024-07-15
MAC The Macerich Company	Buy	10.23%	2.74%	2024-07-16
BDN Brandywine Realty Trust	Buy	9.79%	-1.7%	2024-07-16

The percentage of cash held in the portfolio is: 20.7%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
AHT	Sell All	-3.96%
BHR	Sell All	-5.36%

Assets Rebalanced

None

2024-07-17 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AHT Ashford Hospitality Trust, Inc.	Buy	9.34%	5.94%	2024-07-09
UNIT Uniti Group Inc.	Buy	11.35%	28.71%	2024-07-09
CIO City Office REIT, Inc.	Buy	9.81%	11.28%	2024-07-09
DBRG DigitalBridge Group, Inc.	Buy	9.37%	8.34%	2024-07-11
FOR Forestar Group Inc.	Buy	10.29%	18.99%	2024-07-11
SBAC SBA Communications Corporation	Buy	8.69%	1.52%	2024-07-12
CLPR Clipper Realty Inc.	Buy	10.11%	6.68%	2024-07-15
MAC The Macerich Company	Buy	9.73%	2.81%	2024-07-16
BDN Brandywine Realty Trust	Buy	9.57%	1.06%	2024-07-16
BHR Braemar Hotels & Resorts Inc.	Buy	9.73%	0%	2024-07-17

The percentage of cash held in the portfolio is: 2%

New Assets Added

BHR

Assets Removed

Asset	Action	Perf %
OUT	Sell All	10.59%

Assets Rebalanced

None

2024-07-16 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
OUT Outfront Media Inc.	Buy	9.84%	7.13%	2024-07-03
AHT Ashford Hospitality Trust, Inc.	Buy	9.31%	1.98%	2024-07-09
UNIT Uniti Group Inc.	Buy	11.33%	24.09%	2024-07-09
CIO City Office REIT, Inc.	Buy	9.24%	1.17%	2024-07-09
DBRG DigitalBridge Group, Inc.	Buy	9.35%	4.39%	2024-07-11
FOR Forestar Group Inc.	Buy	10.02%	11.8%	2024-07-11
SBAC SBA Communications Corporation	Buy	8.89%	0.19%	2024-07-12
CLPR Clipper Realty Inc.	Buy	10.4%	5.88%	2024-07-15
MAC The Macerich Company	Buy	9.81%	0%	2024-07-16
BDN Brandywine Realty Trust	Buy	9.81%	0%	2024-07-16

The percentage of cash held in the portfolio is: 2%

New Assets Added

MAC
BDN

Assets Removed

None

Assets Rebalanced

None

2024-07-15 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
OUT Outfront Media Inc.	Buy	9.83%	5.74%	2024-07-03
AHT Ashford Hospitality Trust, Inc.	Buy	9.79%	5.94%	2024-07-09
UNIT Uniti Group Inc.	Buy	10.65%	15.18%	2024-07-09
CIO City Office REIT, Inc.	Buy	9.42%	1.95%	2024-07-09
DBRG DigitalBridge Group, Inc.	Buy	9.44%	4.1%	2024-07-11
FOR Forestar Group Inc.	Buy	9.94%	9.64%	2024-07-11
SBAC SBA Communications Corporation	Buy	9.1%	1.42%	2024-07-12
CLPR Clipper Realty Inc.	Buy	9.94%	0%	2024-07-15

The percentage of cash held in the portfolio is: 21.88%

New Assets Added

CLPR

Assets Removed

Asset	Action	Perf %
DHC	Sell All	10.16%
CLDT	Sell All	1.76%
VNO	Sell All	9.81%

Assets Rebalanced

None

2024-07-12 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DHC Diversified Healthcare Trust	Buy	10.52%	12.13%	2024-07-01
CLDT Chatham Lodging Trust	Buy	9.44%	0.7%	2024-07-01
VNO Vornado Realty Trust	Buy	10.25%	9.32%	2024-07-01
OUT Outfront Media Inc.	Buy	9.98%	6.23%	2024-07-03
AHT Ashford Hospitality Trust, Inc.	Buy	9.9%	5.94%	2024-07-09
UNIT Uniti Group Inc.	Buy	10.21%	9.24%	2024-07-09
CIO City Office REIT, Inc.	Buy	9.46%	1.17%	2024-07-09
DBRG DigitalBridge Group, Inc.	Buy	9.31%	1.56%	2024-07-11
FOR Forestar Group Inc.	Buy	9.85%	7.45%	2024-07-11
SBAC SBA Communications Corporation	Buy	9.08%	0%	2024-07-12

The percentage of cash held in the portfolio is: 2%

New Assets Added

SBAC

Assets Removed

None

Assets Rebalanced

None

2024-07-11 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DHC Diversified Healthcare Trust	Buy	10.15%	3.28%	2024-07-01
CLDT Chatham Lodging Trust	Buy	9.76%	-0.7%	2024-07-01
VNO Vornado Realty Trust	Buy	9.98%	1.56%	2024-07-01
OUT Outfront Media Inc.	Buy	10.08%	2.35%	2024-07-03
AHT Ashford Hospitality Trust, Inc.	Buy	9.89%	0.99%	2024-07-09
UNIT Uniti Group Inc.	Buy	9.95%	1.65%	2024-07-09
CIO City Office REIT, Inc.	Buy	9.39%	-4.09%	2024-07-09
DBRG DigitalBridge Group, Inc.	Buy	9.6%	0%	2024-07-11
FOR Forestar Group Inc.	Buy	9.6%	0%	2024-07-11

The percentage of cash held in the portfolio is: 11.6%

New Assets Added

DBRG
FOR

Assets Removed

None

Assets Rebalanced

None

2024-07-10 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DHC Diversified Healthcare Trust	Buy	10.18%	3.28%	2024-07-01
CLDT Chatham Lodging Trust	Buy	9.65%	-2.11%	2024-07-01
VNO Vornado Realty Trust	Buy	9.93%	0.72%	2024-07-01
OUT Outfront Media Inc.	Buy	9.92%	0.42%	2024-07-03
AHT Ashford Hospitality Trust, Inc.	Buy	9.73%	-0.99%	2024-07-09
UNIT Uniti Group Inc.	Buy	10.05%	2.31%	2024-07-09
CIO City Office REIT, Inc.	Buy	9.62%	-2.14%	2024-07-09

The percentage of cash held in the portfolio is: 30.92%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CMCT	Sell All	-6.32%

Assets Rebalanced

None

2024-07-09 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
CMCT Creative Media & Community Trust Corporation	Buy	9.61%	-1.86%	2024-06-28
DHC Diversified Healthcare Trust	Buy	10.32%	5.57%	2024-07-01
CLDT Chatham Lodging Trust	Buy	9.76%	-0.12%	2024-07-01
VNO Vornado Realty Trust	Buy	9.78%	0.04%	2024-07-01
OUT Outfront Media Inc.	Buy	9.83%	0.42%	2024-07-03
AHT Ashford Hospitality Trust, Inc.	Buy	9.74%	0%	2024-07-09
UNIT Uniti Group Inc.	Buy	9.74%	0%	2024-07-09
CIO City Office REIT, Inc.	Buy	9.74%	0%	2024-07-09

The percentage of cash held in the portfolio is: 21.48%

New Assets Added

AHT
UNIT
CIO

Assets Removed

None

Assets Rebalanced

None

2024-07-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
CMCT Creative Media & Community Trust Corporation	Buy	9.78%	-0.37%	2024-06-28
DHC Diversified Healthcare Trust	Buy	10.28%	4.92%	2024-07-01
CLDT Chatham Lodging Trust	Buy	9.76%	-0.35%	2024-07-01
VNO Vornado Realty Trust	Buy	9.59%	-2.13%	2024-07-01
OUT Outfront Media Inc.	Buy	9.77%	-0.48%	2024-07-03

The percentage of cash held in the portfolio is: 50.82%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
AXR	Sell All	-0.95%

Assets Rebalanced

None

2024-07-05 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	9.66%	-2.22%	2024-06-24
CMCT Creative Media & Community Trust Corporation	Buy	9.85%	0.37%	2024-06-28
DHC Diversified Healthcare Trust	Buy	10.18%	3.93%	2024-07-01
CLDT Chatham Lodging Trust	Buy	9.65%	-1.41%	2024-07-01
VNO Vornado Realty Trust	Buy	9.76%	-0.34%	2024-07-01
OUT Outfront Media Inc.	Buy	9.89%	0.76%	2024-07-03

The percentage of cash held in the portfolio is: 41.02%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CIO	Sell All	NA
UNIT	Sell All	NA

Assets Rebalanced

None

2024-07-03 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
CIO City Office REIT, Inc.	Buy	9.81%	-0.99%	2024-06-21
UNIT Uniti Group Inc.	Buy	9.7%	-2.13%	2024-06-21
AXR AMREP Corporation	Buy	9.49%	-4.18%	2024-06-24
CMCT Creative Media & Community Trust Corporation	Buy	9.69%	-1.49%	2024-06-28
DHC Diversified Healthcare Trust	Buy	10.24%	4.26%	2024-07-01
CLDT Chatham Lodging Trust	Buy	9.83%	0.12%	2024-07-01
VNO Vornado Realty Trust	Buy	9.72%	-1.07%	2024-07-01
OUT Outfront Media Inc.	Buy	9.84%	0%	2024-07-03

The percentage of cash held in the portfolio is: 21.68%

New Assets Added

OUT

Assets Removed

Asset	Action	Perf %
AHT	Sell All	-2.22%
DBRG	Sell All	1.77%
PSA	Sell All	-2.08%

Assets Rebalanced

None

2024-07-01 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PSA Public Storage	Buy	9.57%	-1.3%	2024-06-19
CIO City Office REIT, Inc.	Buy	9.56%	-1.39%	2024-06-21
UNIT Uniti Group Inc.	Buy	10.04%	3.55%	2024-06-21
AXR AMREP Corporation	Buy	9.69%	-0.05%	2024-06-24
AHT Ashford Hospitality Trust, Inc.	Buy	10.45%	7.78%	2024-06-25
DBRG DigitalBridge Group, Inc.	Buy	10.24%	5.55%	2024-06-25
CMCT Creative Media & Community Trust Corporation	Buy	9.63%	0%	2024-06-28
DHC Diversified Healthcare Trust	Buy	9.61%	0%	2024-07-01
CLDT Chatham Lodging Trust	Buy	9.61%	0%	2024-07-01
VNO Vornado Realty Trust	Buy	9.61%	0%	2024-07-01

The percentage of cash held in the portfolio is: 2%

New Assets Added

DHC
CLDT
VNO

Assets Removed

None

Assets Rebalanced

None

2024-06-28 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PSA Public Storage	Buy	9.77%	-1.68%	2024-06-19
CIO City Office REIT, Inc.	Buy	9.56%	-3.76%	2024-06-21
UNIT Uniti Group Inc.	Buy	9.62%	-3.19%	2024-06-21
AXR AMREP Corporation	Buy	9.66%	-2.75%	2024-06-24
AHT Ashford Hospitality Trust, Inc.	Buy	9.61%	-3.33%	2024-06-25
DBRG DigitalBridge Group, Inc.	Buy	10.32%	3.85%	2024-06-25
CMCT Creative Media & Community Trust Corporation	Buy	9.86%	0%	2024-06-28

The percentage of cash held in the portfolio is: 31.59%

New Assets Added

CMCT

Assets Removed

None

Assets Rebalanced

None

2024-06-27 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PSA Public Storage	Buy	9.82%	-1.14%	2024-06-19
CIO City Office REIT, Inc.	Buy	9.48%	-4.55%	2024-06-21
UNIT Uniti Group Inc.	Buy	9.55%	-3.9%	2024-06-21
AXR AMREP Corporation	Buy	9.77%	-1.69%	2024-06-24
AHT Ashford Hospitality Trust, Inc.	Buy	9.72%	-2.22%	2024-06-25
DBRG DigitalBridge Group, Inc.	Buy	10.2%	2.62%	2024-06-25

The percentage of cash held in the portfolio is: 41.46%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
SAFE	Sell All	-1.06%

Assets Rebalanced

None

2024-06-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PSA Public Storage	Buy	9.78%	-0.65%	2024-06-19
CIO City Office REIT, Inc.	Buy	9.53%	-3.17%	2024-06-21
UNIT Uniti Group Inc.	Buy	9.36%	-4.96%	2024-06-21
SAFE Safehold Inc.	Buy	9.72%	-1.27%	2024-06-24
AXR AMREP Corporation	Buy	9.55%	-3.01%	2024-06-24
AHT Ashford Hospitality Trust, Inc.	Buy	10.61%	7.78%	2024-06-25
DBRG DigitalBridge Group, Inc.	Buy	10.11%	2.7%	2024-06-25

The percentage of cash held in the portfolio is: 31.34%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
AKR	Sell All	-2.04%

Assets Rebalanced

None

2024-06-25 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PSA Public Storage	Buy	9.88%	0.3%	2024-06-19
CIO City Office REIT, Inc.	Buy	9.84%	-0.2%	2024-06-21
UNIT Uniti Group Inc.	Buy	9.26%	-6.03%	2024-06-21
SAFE Safehold Inc.	Buy	10.05%	2.01%	2024-06-24
AXR AMREP Corporation	Buy	9.68%	-1.74%	2024-06-24
AHT Ashford Hospitality Trust, Inc.	Buy	9.86%	0%	2024-06-25
AKR Acadia Realty Trust	Buy	9.86%	0%	2024-06-25
DBRG DigitalBridge Group, Inc.	Buy	9.86%	0%	2024-06-25

The percentage of cash held in the portfolio is: 21.71%

New Assets Added

AHT
AKR
DBRG

Assets Removed

None

Assets Rebalanced

None

2024-06-24 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PSA Public Storage	Buy	9.78%	-0.14%	2024-06-19
CIO City Office REIT, Inc.	Buy	9.7%	-0.99%	2024-06-21
UNIT Uniti Group Inc.	Buy	9.94%	1.42%	2024-06-21
SAFE Safehold Inc.	Buy	9.8%	0%	2024-06-24
AXR AMREP Corporation	Buy	9.8%	0%	2024-06-24

The percentage of cash held in the portfolio is: 50.99%

New Assets Added

SAFE
AXR

Assets Removed

None

Assets Rebalanced

None

2024-06-21 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PSA Public Storage	Buy	9.82%	0.18%	2024-06-19
CIO City Office REIT, Inc.	Buy	9.8%	0%	2024-06-21
UNIT Uniti Group Inc.	Buy	9.8%	0%	2024-06-21

The percentage of cash held in the portfolio is: 70.59%

New Assets Added

CIO
UNIT

Assets Removed

None

Assets Rebalanced

None

2024-06-19 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PSA Public Storage	Buy	9.8%	0%	2024-06-19

The percentage of cash held in the portfolio is: 90.2%

New Assets Added

PSA

Assets Removed

None

Assets Rebalanced

None

2024-06-06 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
FPH	Sell All	-3.1%

Assets Rebalanced

None

2024-06-03 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPH Five Point Holdings, LLC	Buy	10.08%	0.93%	2024-05-23

The percentage of cash held in the portfolio is: 89.92%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
GEO	Sell All	8.35%

Assets Rebalanced

None

2024-05-27 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
GEO The GEO Group, Inc.	Buy	10.62%	3.73%	2024-05-20
FPH Five Point Holdings, LLC	Buy	9.88%	-1.86%	2024-05-23

The percentage of cash held in the portfolio is: 79.51%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
BXP	Sell All	-3.56%

Assets Rebalanced

None

2024-05-24 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
BXP Boston Properties, Inc.	Buy	9.06%	-2.83%	2024-05-13
GEO The GEO Group, Inc.	Buy	10.61%	3.5%	2024-05-20
FPH Five Point Holdings, LLC	Buy	9.68%	-4.02%	2024-05-23

The percentage of cash held in the portfolio is: 70.65%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
MPW	Sell All	7.46%
RDFN	Sell All	-12.16%

Assets Rebalanced

None

2024-05-23 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
MPW Medical Properties Trust, Inc.	Buy	9.74%	5.54%	2024-05-10
RDFN Redfin Corporation	Buy	8.45%	-8.35%	2024-05-10
BXP Boston Properties, Inc.	Buy	9.26%	0.37%	2024-05-13
GEO The GEO Group, Inc.	Buy	10.73%	5.81%	2024-05-20
FPH Five Point Holdings, LLC	Buy	9.97%	0%	2024-05-23

The percentage of cash held in the portfolio is: 51.85%

New Assets Added

FPH

Assets Removed

None

Assets Rebalanced

None

2024-05-22 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
MPW Medical Properties Trust, Inc.	Buy	9.8%	6.61%	2024-05-10
RDFN Redfin Corporation	Buy	8.84%	-3.82%	2024-05-10
BXP Boston Properties, Inc.	Buy	9.32%	1.38%	2024-05-13
GEO The GEO Group, Inc.	Buy	10.42%	3.13%	2024-05-20

The percentage of cash held in the portfolio is: 61.62%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
VRE	Sell All	1.3%

Assets Rebalanced

None

2024-05-20 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
VRE Veris Residential, Inc.	Buy	9.08%	2.14%	2024-05-08
MPW Medical Properties Trust, Inc.	Buy	9.74%	6.82%	2024-05-10
RDFN Redfin Corporation	Buy	9.71%	6.51%	2024-05-10
BXP Boston Properties, Inc.	Buy	9.37%	2.76%	2024-05-13
GEO The GEO Group, Inc.	Buy	10.02%	0%	2024-05-20

The percentage of cash held in the portfolio is: 52.09%

New Assets Added

GEO

Assets Removed

Asset	Action	Perf %
HASI	Sell All	22.71%

Assets Rebalanced

None

2024-05-17 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	11.33%	22.67%	2024-05-06
VRE Veris Residential, Inc.	Buy	9.03%	2.01%	2024-05-08
MPW Medical Properties Trust, Inc.	Buy	9.91%	9.17%	2024-05-10
RDFN Redfin Corporation	Buy	9.82%	8.2%	2024-05-10
BXP Boston Properties, Inc.	Buy	9.39%	3.5%	2024-05-13

The percentage of cash held in the portfolio is: 50.52%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
DHC	Sell All	0%
EXPI	Sell All	14.4%
SLG	Sell All	2.03%
DEA	Sell All	1.84%
FPH	Sell All	4.28%

Assets Rebalanced

None

2024-05-14 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DEA Easterly Government Properties, Inc.	Buy	9.29%	1.09%	2024-05-03
SLG SL Green Realty Corp.	Buy	9.35%	1.71%	2024-05-03
EXPI eXp World Holdings, Inc.	Buy	10.27%	11.73%	2024-05-03
FPH Five Point Holdings, LLC	Buy	9.35%	1.64%	2024-05-03
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	11.33%	23.36%	2024-05-06
VRE Veris Residential, Inc.	Buy	8.9%	1.17%	2024-05-08
MPW Medical Properties Trust, Inc.	Buy	10.73%	18.98%	2024-05-10
RDFN Redfin Corporation	Buy	10.21%	13.15%	2024-05-10
BXP Boston Properties, Inc.	Buy	9.2%	2.03%	2024-05-13
DHC Diversified Healthcare Trust	Buy	9.36%	0%	2024-05-14

The percentage of cash held in the portfolio is: 2%

New Assets Added

DHC

Assets Removed

Asset	Action	Perf %
PLD	Sell All	2.54%

Assets Rebalanced

None

2024-05-13 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	9.73%	2.36%	2024-04-30
DEA Easterly Government Properties, Inc.	Buy	9.51%	0.08%	2024-05-03
SLG SL Green Realty Corp.	Buy	9.53%	0.27%	2024-05-03
EXPI eXp World Holdings, Inc.	Buy	10.45%	9.96%	2024-05-03
FPH Five Point Holdings, LLC	Buy	9.63%	1.32%	2024-05-03
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	11.71%	23.48%	2024-05-06
VRE Veris Residential, Inc.	Buy	9.2%	1.23%	2024-05-08
MPW Medical Properties Trust, Inc.	Buy	9.5%	1.92%	2024-05-10
RDFN Redfin Corporation	Buy	9.42%	1.06%	2024-05-10
BXP Boston Properties, Inc.	Buy	9.32%	0%	2024-05-13

The percentage of cash held in the portfolio is: 2%

New Assets Added

BXP

Assets Removed

None

Assets Rebalanced

None

2024-05-10 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	9.79%	2.99%	2024-04-30
DEA Easterly Government Properties, Inc.	Buy	9.52%	0.08%	2024-05-03
SLG SL Green Realty Corp.	Buy	9.57%	0.61%	2024-05-03
EXPI eXp World Holdings, Inc.	Buy	10.48%	10.22%	2024-05-03
FPH Five Point Holdings, LLC	Buy	9.57%	0.66%	2024-05-03
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	11.9%	25.37%	2024-05-06
VRE Veris Residential, Inc.	Buy	9.17%	0.84%	2024-05-08
MPW Medical Properties Trust, Inc.	Buy	9.33%	0%	2024-05-10
RDFN Redfin Corporation	Buy	9.33%	0%	2024-05-10

The percentage of cash held in the portfolio is: 11.33%

New Assets Added

MPW
RDFN

Assets Removed

None

Assets Rebalanced

None

2024-05-09 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	9.78%	0.83%	2024-04-30
DEA Easterly Government Properties, Inc.	Buy	9.51%	-1.92%	2024-05-03
SLG SL Green Realty Corp.	Buy	9.48%	-2.26%	2024-05-03
EXPI eXp World Holdings, Inc.	Buy	10.21%	5.33%	2024-05-03
FPH Five Point Holdings, LLC	Buy	9.92%	2.3%	2024-05-03
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	11.35%	17.21%	2024-05-06
VRE Veris Residential, Inc.	Buy	9.17%	-1.1%	2024-05-08

The percentage of cash held in the portfolio is: 30.58%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
BXP	Sell All	-2.39%

Assets Rebalanced

None

2024-05-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	10.02%	2.62%	2024-04-30
DEA Easterly Government Properties, Inc.	Buy	9.77%	0.08%	2024-05-03
SLG SL Green Realty Corp.	Buy	9.61%	-1.57%	2024-05-03
EXPI eXp World Holdings, Inc.	Buy	10.5%	7.56%	2024-05-03
FPH Five Point Holdings, LLC	Buy	9.99%	2.3%	2024-05-03
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.83%	0.81%	2024-05-06
BXP Boston Properties, Inc.	Buy	10.24%	-1.19%	2024-05-07
VRE Veris Residential, Inc.	Buy	9.34%	0%	2024-05-08

The percentage of cash held in the portfolio is: 20.68%

New Assets Added

VRE

Assets Removed

Asset	Action	Perf %
ALX	Sell All	4.44%
DHC	Sell All	-4.55%
OPI	Sell All	-13.24%

Assets Rebalanced

None

2024-05-07 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	9.52%	-0.32%	2024-04-30
ALX Alexander's, Inc.	Buy	10.15%	6.29%	2024-05-02
DEA Easterly Government Properties, Inc.	Buy	9.69%	1.51%	2024-05-03
DHC Diversified Healthcare Trust	Buy	10.1%	5.79%	2024-05-03
SLG SL Green Realty Corp.	Buy	9.63%	0.9%	2024-05-03
EXPI eXp World Holdings, Inc.	Buy	10.16%	6.4%	2024-05-03
FPH Five Point Holdings, LLC	Buy	9.89%	3.62%	2024-05-03
OPI Office Properties Income Trust	Buy	9.17%	-3.83%	2024-05-06
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.56%	0.31%	2024-05-06
BXP Boston Properties, Inc.	Buy	10.13%	0%	2024-05-07

The percentage of cash held in the portfolio is: 2%

New Assets Added

BXP

Assets Removed

Asset	Action	Perf %
RMAX	Sell All	6.39%

Assets Rebalanced

None

2024-05-06 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	9.74%	0.84%	2024-04-30
ALX Alexander's, Inc.	Buy	9.52%	-1.46%	2024-05-02
RMAX RE/MAX Holdings, Inc.	Buy	10.35%	7.08%	2024-05-02
DEA Easterly Government Properties, Inc.	Buy	9.61%	-0.59%	2024-05-03
DHC Diversified Healthcare Trust	Buy	10.46%	8.26%	2024-05-03
SLG SL Green Realty Corp.	Buy	9.54%	-1.23%	2024-05-03
EXPI eXp World Holdings, Inc.	Buy	9.98%	3.29%	2024-05-03
FPH Five Point Holdings, LLC	Buy	9.5%	-1.64%	2024-05-03
OPI Office Properties Income Trust	Buy	9.65%	0%	2024-05-06
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.65%	0%	2024-05-06

The percentage of cash held in the portfolio is: 2%

New Assets Added

OPI
HASI

Assets Removed

None

Assets Rebalanced

None

2024-05-03 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	9.76%	-0.46%	2024-04-30
ALX Alexander's, Inc.	Buy	9.82%	0.13%	2024-05-02
RMAX RE/MAX Holdings, Inc.	Buy	9.75%	-0.56%	2024-05-02
DEA Easterly Government Properties, Inc.	Buy	9.81%	0%	2024-05-03
DHC Diversified Healthcare Trust	Buy	9.81%	0%	2024-05-03
SLG SL Green Realty Corp.	Buy	9.81%	0%	2024-05-03
EXPI eXp World Holdings, Inc.	Buy	9.81%	0%	2024-05-03
FPH Five Point Holdings, LLC	Buy	9.81%	0%	2024-05-03

The percentage of cash held in the portfolio is: 21.62%

New Assets Added

DEA
DHC
SLG
EXPI
FPH

Assets Removed

None

Assets Rebalanced

None

2024-05-02 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	9.54%	-2.98%	2024-04-30
ALX Alexander's, Inc.	Buy	9.83%	0%	2024-05-02
RMAX RE/MAX Holdings, Inc.	Buy	9.83%	0%	2024-05-02

The percentage of cash held in the portfolio is: 70.81%

New Assets Added

ALX
RMAX

Assets Removed

None

Assets Rebalanced

None

2024-04-30 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLD Prologis, Inc.	Buy	9.8%	0%	2024-04-30

The percentage of cash held in the portfolio is: 90.2%

New Assets Added

PLD

Assets Removed

None

Assets Rebalanced

None

2024-04-11 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
DLR	Sell All	-1.63%

Assets Rebalanced

None

2024-04-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DLR Digital Realty Trust, Inc.	Buy	9.64%	-0.79%	2024-03-28

The percentage of cash held in the portfolio is: 90.36%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
AIV	Sell All	-1.88%

Assets Rebalanced

None

2024-04-05 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AIV Apartment Investment and Management Company	Buy	10.54%	-1.5%	2024-03-25
DLR Digital Realty Trust, Inc.	Buy	9.47%	-2.69%	2024-03-28

The percentage of cash held in the portfolio is: 79.99%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CIO	Sell All	-6.6%

Assets Rebalanced

None

2024-04-04 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
CIO City Office REIT, Inc.	Buy	10.23%	-4.6%	2024-03-22
AIV Apartment Investment and Management Company	Buy	10.61%	-0.5%	2024-03-25
DLR Digital Realty Trust, Inc.	Buy	9.48%	-2.16%	2024-03-28

The percentage of cash held in the portfolio is: 69.68%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
MLP	Sell All	0.62%
MPW	Sell All	-9.96%

Assets Rebalanced

None

2024-04-03 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
CIO City Office REIT, Inc.	Buy	10.13%	-5.6%	2024-03-22
MLP Maui Land & Pineapple Company, Inc.	Buy	10.89%	1.43%	2024-03-22
AIV Apartment Investment and Management Company	Buy	10.48%	-1.75%	2024-03-25
MPW Medical Properties Trust, Inc.	Buy	8.86%	-8.69%	2024-03-28
DLR Digital Realty Trust, Inc.	Buy	9.43%	-2.74%	2024-03-28

The percentage of cash held in the portfolio is: 50.21%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
JOE	Sell All	-2.49%
FSP	Sell All	-6.14%
SLG	Sell All	-6.75%
CUZ	Sell All	-4.99%
UE	Sell All	-4%

Assets Rebalanced

None

2024-03-29 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FSP Franklin Street Properties Corp.	Buy	10.15%	-0.44%	2024-03-22
CIO City Office REIT, Inc.	Buy	10.62%	4.2%	2024-03-22
MLP Maui Land & Pineapple Company, Inc.	Buy	10.49%	2.9%	2024-03-22
JOE The St. Joe Company	Buy	10.34%	1.51%	2024-03-22
AIV Apartment Investment and Management Company	Buy	10.38%	2.5%	2024-03-25
MPW Medical Properties Trust, Inc.	Buy	9.17%	-0.42%	2024-03-28
DLR Digital Realty Trust, Inc.	Buy	9.23%	0.21%	2024-03-28
SLG SL Green Realty Corp.	Buy	9.21%	0%	2024-03-29
CUZ Cousins Properties Incorporated	Buy	9.21%	0%	2024-03-29
UE Urban Edge Properties	Buy	9.21%	0%	2024-03-29

The percentage of cash held in the portfolio is: 2%

New Assets Added

SLG
CUZ
UE

Assets Removed

None

Assets Rebalanced

None

2024-03-28 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FSP Franklin Street Properties Corp.	Buy	10.17%	-0.88%	2024-03-22
CIO City Office REIT, Inc.	Buy	10.32%	0.6%	2024-03-22
MLP Maui Land & Pineapple Company, Inc.	Buy	10.45%	1.85%	2024-03-22
JOE The St. Joe Company	Buy	10.31%	0.49%	2024-03-22
AIV Apartment Investment and Management Company	Buy	10.37%	1.63%	2024-03-25
MPW Medical Properties Trust, Inc.	Buy	9.27%	0%	2024-03-28
DLR Digital Realty Trust, Inc.	Buy	9.27%	0%	2024-03-28

The percentage of cash held in the portfolio is: 29.82%

New Assets Added

MPW
DLR

Assets Removed

Asset	Action	Perf %
FPH	Sell All	-2.52%

Assets Rebalanced

None

2024-03-27 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPH Five Point Holdings, LLC	Buy	9.62%	0.95%	2024-03-14
FSP Franklin Street Properties Corp.	Buy	9.86%	-4.39%	2024-03-22
CIO City Office REIT, Inc.	Buy	10.42%	1%	2024-03-22
MLP Maui Land & Pineapple Company, Inc.	Buy	10.46%	1.38%	2024-03-22
JOE The St. Joe Company	Buy	10.11%	-2%	2024-03-22
AIV Apartment Investment and Management Company	Buy	10.18%	-0.75%	2024-03-25

The percentage of cash held in the portfolio is: 39.34%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CLDT	Sell All	-3.89%
HPP	Sell All	-9.88%

Assets Rebalanced

None

2024-03-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPH Five Point Holdings, LLC	Buy	9.6%	1.58%	2024-03-14
CLDT Chatham Lodging Trust	Buy	9.97%	-2.53%	2024-03-22
FSP Franklin Street Properties Corp.	Buy	9.83%	-3.95%	2024-03-22
HPP Hudson Pacific Properties, Inc.	Buy	9.51%	-7.08%	2024-03-22
CIO City Office REIT, Inc.	Buy	10.56%	3.2%	2024-03-22
MLP Maui Land & Pineapple Company, Inc.	Buy	10.34%	1.05%	2024-03-22
JOE The St. Joe Company	Buy	10.02%	-2.08%	2024-03-22
AIV Apartment Investment and Management Company	Buy	10.2%	0.25%	2024-03-25

The percentage of cash held in the portfolio is: 19.96%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
DHC	Sell All	-7.25%
MPW	Sell All	-10.41%

Assets Rebalanced

None

2024-03-25 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
MPW Medical Properties Trust, Inc.	Buy	8.76%	-7.24%	2024-03-14
FPH Five Point Holdings, LLC	Buy	9.35%	-0.95%	2024-03-14
CLDT Chatham Lodging Trust	Buy	10.08%	-1.36%	2024-03-22
FSP Franklin Street Properties Corp.	Buy	9.86%	-3.51%	2024-03-22
HPP Hudson Pacific Properties, Inc.	Buy	9.57%	-6.34%	2024-03-22
DHC Diversified Healthcare Trust	Buy	10.1%	-1.15%	2024-03-22
CIO City Office REIT, Inc.	Buy	9.87%	-3.4%	2024-03-22
MLP Maui Land & Pineapple Company, Inc.	Buy	10.4%	1.81%	2024-03-22
JOE The St. Joe Company	Buy	9.86%	-3.52%	2024-03-22
AIV Apartment Investment and Management Company	Buy	10.16%	0%	2024-03-25

The percentage of cash held in the portfolio is: 2%

New Assets Added

AIV

Assets Removed

Asset	Action	Perf %
BDN	Sell All	1.56%

Assets Rebalanced

None

2024-03-22 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
BDN Brandywine Realty Trust	Buy	10.18%	4.9%	2024-03-11
MPW Medical Properties Trust, Inc.	Buy	8.87%	-3.62%	2024-03-14
FPH Five Point Holdings, LLC	Buy	9.18%	-0.32%	2024-03-14
CLDT Chatham Lodging Trust	Buy	9.97%	0%	2024-03-22
FSP Franklin Street Properties Corp.	Buy	9.97%	0%	2024-03-22
HPP Hudson Pacific Properties, Inc.	Buy	9.97%	0%	2024-03-22
DHC Diversified Healthcare Trust	Buy	9.97%	0%	2024-03-22
CIO City Office REIT, Inc.	Buy	9.97%	0%	2024-03-22
MLP Maui Land & Pineapple Company, Inc.	Buy	9.97%	0%	2024-03-22
JOE The St. Joe Company	Buy	9.97%	0%	2024-03-22

The percentage of cash held in the portfolio is: 2%

New Assets Added

CLDT
FSP
HPP
DHC
CIO
MLP
JOE

Assets Removed

Asset	Action	Perf %
GEO	Sell All	23.04%

Assets Rebalanced

None

2024-03-15 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
GEO The GEO Group, Inc.	Buy	10.42%	4.17%	2024-03-08
BDN Brandywine Realty Trust	Buy	9.71%	-2.67%	2024-03-11
MPW Medical Properties Trust, Inc.	Buy	9%	-4.98%	2024-03-14
FPH Five Point Holdings, LLC	Buy	9.38%	-0.95%	2024-03-14

The percentage of cash held in the portfolio is: 61.49%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
RLJ	Sell All	0%
GOOD	Sell All	5.82%
CUBE	Sell All	0.09%
PCH	Sell All	-1.06%
PDM	Sell All	0%

Assets Rebalanced

None

2024-03-14 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
RLJ RLJ Lodging Trust	Buy	9.81%	0.76%	2024-03-01
GOOD Gladstone Commercial Corporation	Buy	10.44%	7.27%	2024-03-01
CUBE CubeSmart	Buy	10.13%	4.08%	2024-03-01
PCH PotlatchDeltic Corporation	Buy	9.85%	1.26%	2024-03-01
PDM Piedmont Office Realty Trust, Inc.	Buy	10%	2.71%	2024-03-01
GEO The GEO Group, Inc.	Buy	10.09%	2.67%	2024-03-08
BDN Brandywine Realty Trust	Buy	9.77%	-0.45%	2024-03-11
MPW Medical Properties Trust, Inc.	Buy	9.31%	0%	2024-03-14
FPH Five Point Holdings, LLC	Buy	9.31%	0%	2024-03-14

The percentage of cash held in the portfolio is: 11.31%

New Assets Added

MPW
FPH

Assets Removed

Asset	Action	Perf %
ALX	Sell All	-4.93%

Assets Rebalanced

None

2024-03-13 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
RLJ RLJ Lodging Trust	Buy	9.92%	1.85%	2024-03-01
GOOD Gladstone Commercial Corporation	Buy	10.49%	7.75%	2024-03-01
CUBE CubeSmart	Buy	10.16%	4.36%	2024-03-01
PCH PotlatchDeltic Corporation	Buy	9.97%	2.39%	2024-03-01
ALX Alexander's, Inc.	Buy	9.47%	-2.8%	2024-03-01
PDM Piedmont Office Realty Trust, Inc.	Buy	9.93%	1.91%	2024-03-01
GEO The GEO Group, Inc.	Buy	9.74%	-1%	2024-03-08
BDN Brandywine Realty Trust	Buy	9.64%	-1.78%	2024-03-11

The percentage of cash held in the portfolio is: 20.68%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CPT	Sell All	-0.08%
UNIT	Sell All	-2.81%

Assets Rebalanced

None

2024-03-11 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
RLJ RLJ Lodging Trust	Buy	9.89%	2.78%	2024-03-01
GOOD Gladstone Commercial Corporation	Buy	10.31%	7.19%	2024-03-01
CUBE CubeSmart	Buy	10.04%	4.36%	2024-03-01
PCH PotlatchDeltic Corporation	Buy	10%	3.94%	2024-03-01
ALX Alexander's, Inc.	Buy	9.42%	-2.13%	2024-03-01
PDM Piedmont Office Realty Trust, Inc.	Buy	9.76%	1.44%	2024-03-01
UNIT Uniti Group Inc.	Buy	9.84%	2.34%	2024-03-04
CPT Camden Property Trust	Buy	9.36%	2.95%	2024-03-07
GEO The GEO Group, Inc.	Buy	9.68%	-0.42%	2024-03-08
BDN Brandywine Realty Trust	Buy	9.7%	0%	2024-03-11

The percentage of cash held in the portfolio is: 2%

New Assets Added

BDN

Assets Removed

None

Assets Rebalanced

None

2024-03-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
RLJ RLJ Lodging Trust	Buy	9.89%	1.77%	2024-03-01
GOOD Gladstone Commercial Corporation	Buy	10.16%	4.52%	2024-03-01
CUBE CubeSmart	Buy	9.93%	2.22%	2024-03-01
PCH PotlatchDeltic Corporation	Buy	9.98%	2.68%	2024-03-01
ALX Alexander's, Inc.	Buy	9.44%	-2.83%	2024-03-01
PDM Piedmont Office Realty Trust, Inc.	Buy	9.83%	1.12%	2024-03-01
UNIT Uniti Group Inc.	Buy	9.92%	2.18%	2024-03-04
CPT Camden Property Trust	Buy	9.23%	0.48%	2024-03-07
GEO The GEO Group, Inc.	Buy	9.81%	0%	2024-03-08

The percentage of cash held in the portfolio is: 11.81%

New Assets Added

GEO

Assets Removed

Asset	Action	Perf %
ROIC	Sell All	-1.22%
DBRG	Sell All	-3.99%

Assets Rebalanced

None

2024-03-07 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ROIC Retail Opportunity Investments Corp.	Buy	9.91%	-1.91%	2024-02-23
DBRG DigitalBridge Group, Inc.	Buy	9.76%	-3.41%	2024-02-23
RLJ RLJ Lodging Trust	Buy	9.95%	2.11%	2024-03-01
GOOD Gladstone Commercial Corporation	Buy	10.05%	3.15%	2024-03-01
CUBE CubeSmart	Buy	9.85%	1.15%	2024-03-01
PCH PotlatchDeltic Corporation	Buy	9.99%	2.57%	2024-03-01
ALX Alexander's, Inc.	Buy	9.56%	-1.89%	2024-03-01
PDM Piedmont Office Realty Trust, Inc.	Buy	9.74%	0%	2024-03-01
UNIT Uniti Group Inc.	Buy	9.97%	2.34%	2024-03-04
CPT Camden Property Trust	Buy	9.21%	0%	2024-03-07

The percentage of cash held in the portfolio is: 2%

New Assets Added

CPT

Assets Removed

None

Assets Rebalanced

None

2024-03-06 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ROIC Retail Opportunity Investments Corp.	Buy	10.03%	-1.22%	2024-02-23
DBRG DigitalBridge Group, Inc.	Buy	9.9%	-2.5%	2024-02-23
RLJ RLJ Lodging Trust	Buy	9.94%	1.52%	2024-03-01
GOOD Gladstone Commercial Corporation	Buy	10.07%	2.91%	2024-03-01
CUBE CubeSmart	Buy	9.82%	0.32%	2024-03-01
PCH PotlatchDeltic Corporation	Buy	10%	2.17%	2024-03-01
ALX Alexander's, Inc.	Buy	9.59%	-1.96%	2024-03-01
PDM Piedmont Office Realty Trust, Inc.	Buy	9.65%	-1.44%	2024-03-01
UNIT Uniti Group Inc.	Buy	9.75%	-0.31%	2024-03-04

The percentage of cash held in the portfolio is: 11.26%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
FPH	Sell All	-5.5%

Assets Rebalanced

None

2024-03-04 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ROIC Retail Opportunity Investments Corp.	Buy	9.98%	-1.15%	2024-02-23
DBRG DigitalBridge Group, Inc.	Buy	9.97%	-1.28%	2024-02-23
RLJ RLJ Lodging Trust	Buy	9.99%	2.61%	2024-03-01
GOOD Gladstone Commercial Corporation	Buy	9.96%	2.26%	2024-03-01
CUBE CubeSmart	Buy	9.73%	-0.02%	2024-03-01
PCH PotlatchDeltic Corporation	Buy	9.86%	1.28%	2024-03-01
ALX Alexander's, Inc.	Buy	9.7%	-0.42%	2024-03-01
PDM Piedmont Office Realty Trust, Inc.	Buy	9.61%	-1.28%	2024-03-01
FPH Five Point Holdings, LLC	Buy	9.47%	-2.75%	2024-03-01
UNIT Uniti Group Inc.	Buy	9.73%	0%	2024-03-04

The percentage of cash held in the portfolio is: 2%

New Assets Added

UNIT

Assets Removed

None

Assets Rebalanced

None

2024-03-01 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ROIC Retail Opportunity Investments Corp.	Buy	10%	-1.22%	2024-02-23
DBRG DigitalBridge Group, Inc.	Buy	9.9%	-2.24%	2024-02-23
RLJ RLJ Lodging Trust	Buy	9.76%	0%	2024-03-01
GOOD Gladstone Commercial Corporation	Buy	9.76%	0%	2024-03-01
CUBE CubeSmart	Buy	9.76%	0%	2024-03-01
PCH PotlatchDeltic Corporation	Buy	9.76%	0%	2024-03-01
ALX Alexander's, Inc.	Buy	9.76%	0%	2024-03-01
PDM Piedmont Office Realty Trust, Inc.	Buy	9.76%	0%	2024-03-01
FPH Five Point Holdings, LLC	Buy	9.76%	0%	2024-03-01

The percentage of cash held in the portfolio is: 11.76%

New Assets Added

RLJ
GOOD
CUBE
PCH
ALX
PDM
FPH

Assets Removed

Asset	Action	Perf %
SHO	Sell All	1.54%
FSP	Sell All	0.42%
ARL	Sell All	-9.11%

Assets Rebalanced

None

2024-02-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SHO Sunstone Hotel Investors, Inc.	Buy	9.15%	0.82%	2024-02-16
FSP Franklin Street Properties Corp.	Buy	9.04%	-0.42%	2024-02-16
ARL American Realty Investors, Inc.	Buy	10.16%	1.64%	2024-02-22
ROIC Retail Opportunity Investments Corp.	Buy	9.88%	-1.15%	2024-02-23
DBRG DigitalBridge Group, Inc.	Buy	10.13%	1.38%	2024-02-23

The percentage of cash held in the portfolio is: 51.64%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
PLYM	Sell All	-2.11%
AVB	Sell All	0.44%
PEB	Sell All	2.03%
DHC	Sell All	9.63%

Assets Rebalanced

None

2024-02-23 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLYM Plymouth Industrial REIT, Inc.	Buy	9.52%	-1.62%	2024-02-12
AVB AvalonBay Communities, Inc.	Buy	9.75%	0.85%	2024-02-12
PEB Pebblebrook Hotel Trust	Buy	9.95%	2.92%	2024-02-12
DHC Diversified Healthcare Trust	Buy	10.53%	8.89%	2024-02-12
SHO Sunstone Hotel Investors, Inc.	Buy	9.15%	0.82%	2024-02-16
FSP Franklin Street Properties Corp.	Buy	8.89%	-2.12%	2024-02-16
ARL American Realty Investors, Inc.	Buy	10.21%	2.21%	2024-02-22
ROIC Retail Opportunity Investments Corp.	Buy	10%	0%	2024-02-23
DBRG DigitalBridge Group, Inc.	Buy	10%	0%	2024-02-23

The percentage of cash held in the portfolio is: 12%

New Assets Added

ROIC
DBRG

Assets Removed

None

Assets Rebalanced

None

2024-02-22 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PLYM Plymouth Industrial REIT, Inc.	Buy	9.47%	-1.48%	2024-02-12
AVB AvalonBay Communities, Inc.	Buy	9.81%	2.08%	2024-02-12
PEB Pebblebrook Hotel Trust	Buy	10.15%	5.59%	2024-02-12
DHC Diversified Healthcare Trust	Buy	10.72%	11.48%	2024-02-12
SHO Sunstone Hotel Investors, Inc.	Buy	9.02%	-0.09%	2024-02-16
FSP Franklin Street Properties Corp.	Buy	9.1%	0.85%	2024-02-16
ARL American Realty Investors, Inc.	Buy	9.93%	0%	2024-02-22

The percentage of cash held in the portfolio is: 31.8%

New Assets Added

ARL

Assets Removed

Asset	Action	Perf %
PGRE	Sell All	1.29%
HASI	Sell All	7.27%

Assets Rebalanced

None

2024-02-21 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	10.6%	9.55%	2024-02-08
PLYM Plymouth Industrial REIT, Inc.	Buy	9.55%	-0.76%	2024-02-12
AVB AvalonBay Communities, Inc.	Buy	9.72%	0.98%	2024-02-12
PGRE Paramount Group, Inc.	Buy	9.73%	1.08%	2024-02-12
PEB Pebblebrook Hotel Trust	Buy	9.97%	3.62%	2024-02-12
DHC Diversified Healthcare Trust	Buy	10.73%	11.48%	2024-02-12
SHO Sunstone Hotel Investors, Inc.	Buy	8.93%	-1.18%	2024-02-16
FSP Franklin Street Properties Corp.	Buy	9.11%	0.85%	2024-02-16

The percentage of cash held in the portfolio is: 21.65%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
SITC	Sell All	3.22%
AXR	Sell All	-0.38%

Assets Rebalanced

None

2024-02-16 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	9.77%	1.93%	2024-02-07
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	10.33%	7.82%	2024-02-08
SITC SITE Centers Corp.	Buy	10.04%	4.76%	2024-02-08
PLYM Plymouth Industrial REIT, Inc.	Buy	9.63%	1.03%	2024-02-12
AVB AvalonBay Communities, Inc.	Buy	9.7%	1.82%	2024-02-12
PGRE Paramount Group, Inc.	Buy	9.92%	4.09%	2024-02-12
PEB Pebblebrook Hotel Trust	Buy	9.76%	2.48%	2024-02-12
DHC Diversified Healthcare Trust	Buy	10.97%	15.19%	2024-02-12
SHO Sunstone Hotel Investors, Inc.	Buy	8.94%	0%	2024-02-16
FSP Franklin Street Properties Corp.	Buy	8.94%	0%	2024-02-16

The percentage of cash held in the portfolio is: 2%

New Assets Added

SHO
FSP

Assets Removed

None

Assets Rebalanced

None

2024-02-14 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	10.17%	1.42%	2024-02-07
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.98%	-0.51%	2024-02-08
SITC SITE Centers Corp.	Buy	10.36%	3.22%	2024-02-08
PLYM Plymouth Industrial REIT, Inc.	Buy	9.74%	-2.38%	2024-02-12
AVB AvalonBay Communities, Inc.	Buy	9.83%	-1.44%	2024-02-12
PGRE Paramount Group, Inc.	Buy	9.7%	-2.8%	2024-02-12
PEB Pebblebrook Hotel Trust	Buy	9.74%	-2.35%	2024-02-12
DHC Diversified Healthcare Trust	Buy	9.65%	-3.33%	2024-02-12

The percentage of cash held in the portfolio is: 20.83%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
DBRG	Sell All	-5.55%
RMR	Sell All	-6.13%

Assets Rebalanced

None

2024-02-12 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	9.48%	-3.77%	2024-02-07
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.93%	0.8%	2024-02-08
SITC SITE Centers Corp.	Buy	9.99%	1.39%	2024-02-08
PLYM Plymouth Industrial REIT, Inc.	Buy	9.8%	0%	2024-02-12
AVB AvalonBay Communities, Inc.	Buy	9.8%	0%	2024-02-12
PGRE Paramount Group, Inc.	Buy	9.8%	0%	2024-02-12
PEB Pebblebrook Hotel Trust	Buy	9.8%	0%	2024-02-12
DHC Diversified Healthcare Trust	Buy	9.8%	0%	2024-02-12
DBRG DigitalBridge Group, Inc.	Buy	9.8%	0%	2024-02-12
RMR The RMR Group Inc.	Buy	9.8%	0%	2024-02-12

The percentage of cash held in the portfolio is: 2%

New Assets Added

PLYM
AVB
PGRE
PEB
DHC
DBRG
RMR

Assets Removed

None

Assets Rebalanced

None

2024-02-09 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	9.72%	-1.32%	2024-02-07
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.79%	-0.55%	2024-02-08
SITC SITE Centers Corp.	Buy	9.93%	0.88%	2024-02-08

The percentage of cash held in the portfolio is: 70.56%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CSGP	Sell All	-3.95%

Assets Rebalanced

None

2024-02-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	9.94%	1.6%	2024-02-07
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.78%	0%	2024-02-08
SITC SITE Centers Corp.	Buy	9.78%	0%	2024-02-08
CSGP CoStar Group, Inc.	Buy	9.78%	0%	2024-02-08

The percentage of cash held in the portfolio is: 60.71%

New Assets Added

HASI
SITC
CSGP

Assets Removed

None

Assets Rebalanced

None

2024-02-07 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	9.8%	0%	2024-02-07

The percentage of cash held in the portfolio is: 90.2%

New Assets Added

AXR

Assets Removed

Asset	Action	Perf %
ARL	Sell All	-8.24%

Assets Rebalanced

None

2024-02-02 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ARL American Realty Investors, Inc.	Buy	9.8%	0%	2024-02-02

The percentage of cash held in the portfolio is: 90.2%

New Assets Added

ARL

Assets Removed

None

Assets Rebalanced

None

2024-01-02 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
STRS	Sell All	NA

Assets Rebalanced

None

2024-01-01 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
STRS Stratus Properties Inc.	Buy	10.41%	7.53%	2023-12-19

The percentage of cash held in the portfolio is: 89.59%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
AMT	Sell All	1.76%
CSR	Sell All	0.4%
CTO	Sell All	0.52%

Assets Rebalanced

None

2023-12-19 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AMT American Tower Corporation	Buy	9.8%	-0.69%	2023-12-18
CSR Centerspace	Buy	9.91%	0.41%	2023-12-18
CTO CTO Realty Growth, Inc.	Buy	9.81%	-0.52%	2023-12-18
STRS Stratus Properties Inc.	Buy	9.78%	0%	2023-12-19

The percentage of cash held in the portfolio is: 60.7%

New Assets Added

STRS

Assets Removed

Asset	Action	Perf %
KW	Sell All	-5.86%

Assets Rebalanced

None

2023-12-18 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
KW Kennedy-Wilson Holdings, Inc.	Buy	9.5%	-3.35%	2023-12-15
AMT American Tower Corporation	Buy	9.83%	0%	2023-12-18
CSR Centerspace	Buy	9.83%	0%	2023-12-18
CTO CTO Realty Growth, Inc.	Buy	9.83%	0%	2023-12-18

The percentage of cash held in the portfolio is: 61%

New Assets Added

AMT
CSR
CTO

Assets Removed

None

Assets Rebalanced

None

2023-12-15 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
KW Kennedy-Wilson Holdings, Inc.	Buy	9.8%	0%	2023-12-15

The percentage of cash held in the portfolio is: 90.2%

New Assets Added

KW

Assets Removed

Asset	Action	Perf %
PEAK	Sell All	16.17%

Assets Rebalanced

None

2023-12-14 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PEAK Healthpeak Properties, Inc.	Buy	9.62%	10.8%	2023-12-01

The percentage of cash held in the portfolio is: 90.38%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
ESRT	Sell All	7.33%
BDN	Sell All	15.3%
BHR	Sell All	15.21%
HOUS	Sell All	32.16%

Assets Rebalanced

None

2023-12-13 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ESRT Empire State Realty Trust, Inc.	Buy	9.07%	0.89%	2023-11-30
BDN Brandywine Realty Trust	Buy	9.63%	7.1%	2023-11-30
BHR Braemar Hotels & Resorts Inc.	Buy	9.57%	6.45%	2023-11-30
HOUS Anywhere Real Estate Inc.	Buy	10.54%	17.19%	2023-11-30
PEAK Healthpeak Properties, Inc.	Buy	9.55%	5.89%	2023-12-01

The percentage of cash held in the portfolio is: 51.63%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
HPP	Sell All	22.5%
OPI	Sell All	4.6%

Assets Rebalanced

None

2023-12-11 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
OPI Office Properties Income Trust	Buy	9.8%	10.97%	2023-11-30
HPP Hudson Pacific Properties, Inc.	Buy	11.37%	28.76%	2023-11-30
ESRT Empire State Realty Trust, Inc.	Buy	9.16%	3.67%	2023-11-30
BDN Brandywine Realty Trust	Buy	9.75%	10.42%	2023-11-30
BHR Braemar Hotels & Resorts Inc.	Buy	9.32%	5.53%	2023-11-30
HOUS Anywhere Real Estate Inc.	Buy	10.37%	17.38%	2023-11-30
PEAK Healthpeak Properties, Inc.	Buy	9.58%	8.26%	2023-12-01

The percentage of cash held in the portfolio is: 30.64%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
GEO	Sell All	4.04%
CLPR	Sell All	12.2%

Assets Rebalanced

None

2023-12-07 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
GEO The GEO Group, Inc.	Buy	9.36%	0.4%	2023-11-27
CLPR Clipper Realty Inc.	Buy	10.5%	12.6%	2023-11-27
OPI Office Properties Income Trust	Buy	9.88%	9.2%	2023-11-30
HPP Hudson Pacific Properties, Inc.	Buy	11.1%	22.67%	2023-11-30
ESRT Empire State Realty Trust, Inc.	Buy	9.35%	3.33%	2023-11-30
BDN Brandywine Realty Trust	Buy	9.47%	4.66%	2023-11-30
BHR Braemar Hotels & Resorts Inc.	Buy	9.38%	3.69%	2023-11-30
HOUS Anywhere Real Estate Inc.	Buy	10.07%	11.28%	2023-11-30
PEAK Healthpeak Properties, Inc.	Buy	9.64%	6.24%	2023-12-01

The percentage of cash held in the portfolio is: 11.24%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
MLP	Sell All	1.01%

Assets Rebalanced

None

2023-12-01 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
MLP Maui Land & Pineapple Company, Inc.	Buy	10.06%	0.95%	2023-11-23
GEO The GEO Group, Inc.	Buy	10.27%	2.63%	2023-11-27
CLPR Clipper Realty Inc.	Buy	10.37%	3.66%	2023-11-27
OPI Office Properties Income Trust	Buy	9.59%	-1.24%	2023-11-30
HPP Hudson Pacific Properties, Inc.	Buy	9.65%	-0.68%	2023-11-30
ESRT Empire State Realty Trust, Inc.	Buy	9.67%	-0.44%	2023-11-30
BDN Brandywine Realty Trust	Buy	9.61%	-1.11%	2023-11-30
BHR Braemar Hotels & Resorts Inc.	Buy	9.4%	-3.23%	2023-11-30
HOUS Anywhere Real Estate Inc.	Buy	9.66%	-0.55%	2023-11-30
PEAK Healthpeak Properties, Inc.	Buy	9.74%	0%	2023-12-01

The percentage of cash held in the portfolio is: 2%

New Assets Added

PEAK

Assets Removed

None

Assets Rebalanced

None

2023-11-30 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
MLP Maui Land & Pineapple Company, Inc.	Buy	9.9%	0.47%	2023-11-23
GEO The GEO Group, Inc.	Buy	10.58%	6.98%	2023-11-27
CLPR Clipper Realty Inc.	Buy	10.31%	4.27%	2023-11-27
OPI Office Properties Income Trust	Buy	9.6%	0%	2023-11-30
HPP Hudson Pacific Properties, Inc.	Buy	9.6%	0%	2023-11-30
ESRT Empire State Realty Trust, Inc.	Buy	9.6%	0%	2023-11-30
BDN Brandywine Realty Trust	Buy	9.6%	0%	2023-11-30
BHR Braemar Hotels & Resorts Inc.	Buy	9.6%	0%	2023-11-30
HOUS Anywhere Real Estate Inc.	Buy	9.6%	0%	2023-11-30

The percentage of cash held in the portfolio is: 11.6%

New Assets Added

OPI
HPP
ESRT
BDN
BHR
HOUS

Assets Removed

Asset	Action	Perf %
ELS	Sell All	1.02%

Assets Rebalanced

None

2023-11-29 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ELS Equity LifeStyle Properties, Inc.	Buy	9.6%	0.99%	2023-11-16
MLP Maui Land & Pineapple Company, Inc.	Buy	9.88%	-0.47%	2023-11-23
GEO The GEO Group, Inc.	Buy	10.49%	5.16%	2023-11-27
CLPR Clipper Realty Inc.	Buy	9.83%	-1.42%	2023-11-27

The percentage of cash held in the portfolio is: 60.2%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
GOOD	Sell All	0.47%
WSR	Sell All	0.27%
WY	Sell All	-0.28%
PK	Sell All	6.48%
HPP	Sell All	1.41%
FRT	Sell All	-0.72%

Assets Rebalanced

None

2023-11-27 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
GOOD Gladstone Commercial Corporation	Buy	9.68%	-0.16%	2023-11-15
WSR Whitestone REIT	Buy	9.85%	1.55%	2023-11-15
WY Weyerhaeuser Company	Buy	9.79%	0.98%	2023-11-15
PK Park Hotels & Resorts Inc.	Buy	10.16%	4.75%	2023-11-15
HPP Hudson Pacific Properties, Inc.	Buy	9.07%	-6.53%	2023-11-15
FRT Federal Realty Investment Trust	Buy	9.43%	-2.76%	2023-11-15
ELS Equity LifeStyle Properties, Inc.	Buy	9.72%	1.02%	2023-11-16
MLP Maui Land & Pineapple Company, Inc.	Buy	10.1%	0.47%	2023-11-23
GEO The GEO Group, Inc.	Buy	10.1%	0%	2023-11-27
CLPR Clipper Realty Inc.	Buy	10.1%	0%	2023-11-27

The percentage of cash held in the portfolio is: 2%

New Assets Added

GEO
CLPR

Assets Removed

Asset	Action	Perf %
FRPH	Sell All	2.65%

Assets Rebalanced

None

2023-11-24 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FRPH FRP Holdings, Inc.	Buy	10.12%	2.91%	2023-11-13
GOOD Gladstone Commercial Corporation	Buy	9.52%	-2.37%	2023-11-15
WSR Whitestone REIT	Buy	9.83%	0.82%	2023-11-15
WY Weyerhaeuser Company	Buy	9.86%	1.14%	2023-11-15
PK Park Hotels & Resorts Inc.	Buy	10.11%	3.74%	2023-11-15
HPP Hudson Pacific Properties, Inc.	Buy	9.08%	-6.88%	2023-11-15
FRT Federal Realty Investment Trust	Buy	9.48%	-2.78%	2023-11-15
ELS Equity LifeStyle Properties, Inc.	Buy	9.72%	0.5%	2023-11-16
MLP Maui Land & Pineapple Company, Inc.	Buy	10.1%	0%	2023-11-23

The percentage of cash held in the portfolio is: 12.2%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
SRG	Sell All	NA

Assets Rebalanced

None

2023-11-23 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SRG Seritage Growth Properties	Buy	10.2%	3.7%	2023-11-10
FRPH FRP Holdings, Inc.	Buy	10.12%	2.91%	2023-11-13
GOOD Gladstone Commercial Corporation	Buy	9.52%	-2.37%	2023-11-15
WSR Whitestone REIT	Buy	9.83%	0.82%	2023-11-15
WY Weyerhaeuser Company	Buy	9.86%	1.14%	2023-11-15
PK Park Hotels & Resorts Inc.	Buy	10.11%	3.74%	2023-11-15
HPP Hudson Pacific Properties, Inc.	Buy	9.08%	-6.88%	2023-11-15
FRT Federal Realty Investment Trust	Buy	9.48%	-2.78%	2023-11-15
ELS Equity LifeStyle Properties, Inc.	Buy	9.72%	0.5%	2023-11-16
MLP Maui Land & Pineapple Company, Inc.	Buy	10.1%	0%	2023-11-23

The percentage of cash held in the portfolio is: 2%

New Assets Added

MLP

Assets Removed

Asset	Action	Perf %
SKT	Sell All	2.69%

Assets Rebalanced

None

2023-11-16 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SKT Tanger Factory Outlet Centers, Inc.	Buy	10.08%	4.16%	2023-11-09
SRG Seritage Growth Properties	Buy	10.22%	5.32%	2023-11-10
FRPH FRP Holdings, Inc.	Buy	10.12%	4.34%	2023-11-13
GOOD Gladstone Commercial Corporation	Buy	9.66%	0.47%	2023-11-15
WSR Whitestone REIT	Buy	9.66%	0.46%	2023-11-15
WY Weyerhaeuser Company	Buy	9.64%	0.28%	2023-11-15
PK Park Hotels & Resorts Inc.	Buy	9.77%	1.66%	2023-11-15
HPP Hudson Pacific Properties, Inc.	Buy	9.73%	1.23%	2023-11-15
FRT Federal Realty Investment Trust	Buy	9.57%	-0.45%	2023-11-15
ELS Equity LifeStyle Properties, Inc.	Buy	9.54%	0%	2023-11-16

The percentage of cash held in the portfolio is: 2%

New Assets Added

ELS

Assets Removed

Asset	Action	Perf %
INVH	Sell All	11.73%

Assets Rebalanced

None

2023-11-15 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
INVH Invitation Homes Inc.	Buy	9.63%	12.4%	2023-11-02
SKT Tanger Factory Outlet Centers, Inc.	Buy	10.08%	3.92%	2023-11-09
SRG Seritage Growth Properties	Buy	10.24%	5.21%	2023-11-10
FRPH FRP Holdings, Inc.	Buy	10.21%	4.94%	2023-11-13
GOOD Gladstone Commercial Corporation	Buy	9.64%	0%	2023-11-15
WSR Whitestone REIT	Buy	9.64%	0%	2023-11-15
WY Weyerhaeuser Company	Buy	9.64%	0%	2023-11-15
PK Park Hotels & Resorts Inc.	Buy	9.64%	0%	2023-11-15
HPP Hudson Pacific Properties, Inc.	Buy	9.64%	0%	2023-11-15
FRT Federal Realty Investment Trust	Buy	9.64%	0%	2023-11-15

The percentage of cash held in the portfolio is: 2%

New Assets Added

GOOD
WSR
WY
PK
HPP
FRT

Assets Removed

None

Assets Rebalanced

None

2023-11-14 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
INVH Invitation Homes Inc.	Buy	9.22%	5.92%	2023-11-02
SKT Tanger Factory Outlet Centers, Inc.	Buy	9.79%	-0.77%	2023-11-09
SRG Seritage Growth Properties	Buy	10.34%	4.51%	2023-11-10
FRPH FRP Holdings, Inc.	Buy	9.84%	-0.53%	2023-11-13

The percentage of cash held in the portfolio is: 60.82%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
SELF	Sell All	2.24%

Assets Rebalanced

None

2023-11-13 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SELF Global Self Storage, Inc.	Buy	9.42%	2.91%	2023-10-31
INVH Invitation Homes Inc.	Buy	9.25%	6.49%	2023-11-02
SKT Tanger Factory Outlet Centers, Inc.	Buy	9.87%	0.29%	2023-11-09
SRG Seritage Growth Properties	Buy	10.29%	4.28%	2023-11-10
FRPH FRP Holdings, Inc.	Buy	9.86%	0%	2023-11-13

The percentage of cash held in the portfolio is: 51.32%

New Assets Added

FRPH

Assets Removed

None

Assets Rebalanced

None

2023-11-10 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SELF Global Self Storage, Inc.	Buy	9.59%	4.03%	2023-10-31
INVH Invitation Homes Inc.	Buy	9.17%	4.91%	2023-11-02
SKT Tanger Factory Outlet Centers, Inc.	Buy	9.71%	-2%	2023-11-09
SRG Seritage Growth Properties	Buy	9.93%	0%	2023-11-10

The percentage of cash held in the portfolio is: 61.6%

New Assets Added

SRG

Assets Removed

Asset	Action	Perf %
SBAC	Sell All	5.85%
EQIX	Sell All	5.21%
SAFE	Sell All	6.34%

Assets Rebalanced

None

2023-11-09 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SBAC SBA Communications Corporation	Buy	9.99%	6.65%	2023-10-27
EQIX Equinix, Inc.	Buy	9.89%	5.62%	2023-10-27
SAFE Safehold Inc.	Buy	10.13%	8.19%	2023-10-27
SELF Global Self Storage, Inc.	Buy	9.53%	4.03%	2023-10-31
INVH Invitation Homes Inc.	Buy	9.2%	5.85%	2023-11-02
SKT Tanger Factory Outlet Centers, Inc.	Buy	9.85%	0%	2023-11-09

The percentage of cash held in the portfolio is: 41.4%

New Assets Added

SKT

Assets Removed

Asset	Action	Perf %
MMI	Sell All	10.03%

Assets Rebalanced

None

2023-11-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SBAC SBA Communications Corporation	Buy	9.95%	6.48%	2023-10-27
EQIX Equinix, Inc.	Buy	9.84%	5.35%	2023-10-27
SAFE Safehold Inc.	Buy	10.34%	10.63%	2023-10-27
MMI Marcus & Millichap, Inc.	Buy	10.34%	13.28%	2023-10-30
SELF Global Self Storage, Inc.	Buy	9.33%	2.01%	2023-10-31
INVH Invitation Homes Inc.	Buy	9.11%	5.01%	2023-11-02

The percentage of cash held in the portfolio is: 41.1%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
VNO	Sell All	-5.16%
LAMR	Sell All	13.61%
DHC	Sell All	8.12%
CHCT	Sell All	-4.43%

Assets Rebalanced

None

2023-11-07 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
LAMR Lamar Advertising Company	Buy	10.66%	13.75%	2023-10-25
DHC Diversified Healthcare Trust	Buy	10.61%	13.2%	2023-10-25
SBAC SBA Communications Corporation	Buy	9.82%	7.04%	2023-10-27
EQIX Equinix, Inc.	Buy	9.72%	5.87%	2023-10-27
SAFE Safehold Inc.	Buy	10.37%	13%	2023-10-27
MMI Marcus & Millichap, Inc.	Buy	10.32%	15.1%	2023-10-30
CHCT Community Healthcare Trust Incorporated	Buy	8.9%	-0.89%	2023-10-31
SELF Global Self Storage, Inc.	Buy	9.04%	0.67%	2023-10-31
INVH Invitation Homes Inc.	Buy	9.08%	6.59%	2023-11-02
VNO Vornado Realty Trust	Buy	9.49%	0%	2023-11-07

The percentage of cash held in the portfolio is: 2%

New Assets Added

VNO

Assets Removed

Asset	Action	Perf %
HOUS	Sell All	2.32%

Assets Rebalanced

None

2023-11-02 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
LAMR Lamar Advertising Company	Buy	9.77%	-1.23%	2023-10-25
DHC Diversified Healthcare Trust	Buy	10.64%	7.61%	2023-10-25
HOUS Anywhere Real Estate Inc.	Buy	10.12%	2.32%	2023-10-25
SBAC SBA Communications Corporation	Buy	9.74%	0.65%	2023-10-27
EQIX Equinix, Inc.	Buy	9.95%	2.73%	2023-10-27
SAFE Safehold Inc.	Buy	9.84%	1.66%	2023-10-27
MMI Marcus & Millichap, Inc.	Buy	9.86%	4.28%	2023-10-30
CHCT Community Healthcare Trust Incorporated	Buy	9.32%	-1.6%	2023-10-31
SELF Global Self Storage, Inc.	Buy	9.77%	3.13%	2023-10-31
INVH Invitation Homes Inc.	Buy	8.99%	0%	2023-11-02

The percentage of cash held in the portfolio is: 2%

New Assets Added

INVH

Assets Removed

Asset	Action	Perf %
DBRG	Sell All	-7.12%

Assets Rebalanced

None

2023-10-31 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
LAMR Lamar Advertising Company	Buy	9.71%	-2.08%	2023-10-25
DHC Diversified Healthcare Trust	Buy	10.37%	4.57%	2023-10-25
HOUS Anywhere Real Estate Inc.	Buy	10.05%	1.27%	2023-10-25
SBAC SBA Communications Corporation	Buy	9.65%	-0.68%	2023-10-27
EQIX Equinix, Inc.	Buy	9.66%	-0.58%	2023-10-27
SAFE Safehold Inc.	Buy	10.14%	4.35%	2023-10-27
DBRG DigitalBridge Group, Inc.	Buy	9.84%	1.27%	2023-10-27
MMI Marcus & Millichap, Inc.	Buy	9.59%	1.11%	2023-10-30
CHCT Community Healthcare Trust Incorporated	Buy	9.5%	0%	2023-10-31
SELF Global Self Storage, Inc.	Buy	9.5%	0%	2023-10-31

The percentage of cash held in the portfolio is: 2%

New Assets Added

CHCT
SELF

Assets Removed

Asset	Action	Perf %
FPI	Sell All	-3.57%

Assets Rebalanced

None

2023-10-30 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPI Farmland Partners Inc.	Buy	9.93%	-2.16%	2023-10-25
LAMR Lamar Advertising Company	Buy	9.82%	-3.18%	2023-10-25
DHC Diversified Healthcare Trust	Buy	10.2%	0.51%	2023-10-25
HOUS Anywhere Real Estate Inc.	Buy	9.76%	-3.8%	2023-10-25
SBAC SBA Communications Corporation	Buy	9.82%	-1.12%	2023-10-27
EQIX Equinix, Inc.	Buy	9.81%	-1.27%	2023-10-27
SAFE Safehold Inc.	Buy	9.62%	-3.2%	2023-10-27
DBRG DigitalBridge Group, Inc.	Buy	9.65%	-2.86%	2023-10-27
MMI Marcus & Millichap, Inc.	Buy	9.7%	0%	2023-10-30

The percentage of cash held in the portfolio is: 11.7%

New Assets Added

MMI

Assets Removed

Asset	Action	Perf %
INN	Sell All	-7.09%

Assets Rebalanced

None

2023-10-27 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPI Farmland Partners Inc.	Buy	9.77%	-1.69%	2023-10-25
INN Summit Hotel Properties, Inc.	Buy	9.73%	-2.08%	2023-10-25
LAMR Lamar Advertising Company	Buy	9.75%	-1.89%	2023-10-25
DHC Diversified Healthcare Trust	Buy	10.34%	4.06%	2023-10-25
HOUS Anywhere Real Estate Inc.	Buy	9.79%	-1.48%	2023-10-25
SBAC SBA Communications Corporation	Buy	9.73%	0%	2023-10-27
EQIX Equinix, Inc.	Buy	9.73%	0%	2023-10-27
SAFE Safehold Inc.	Buy	9.73%	0%	2023-10-27
DBRG DigitalBridge Group, Inc.	Buy	9.73%	0%	2023-10-27

The percentage of cash held in the portfolio is: 11.73%

New Assets Added

SBAC
EQIX
SAFE
DBRG

Assets Removed

None

Assets Rebalanced

None

2023-10-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPI Farmland Partners Inc.	Buy	9.86%	-2.26%	2023-10-25
INN Summit Hotel Properties, Inc.	Buy	9.7%	-3.81%	2023-10-25
LAMR Lamar Advertising Company	Buy	9.84%	-2.45%	2023-10-25
DHC Diversified Healthcare Trust	Buy	9.93%	-1.52%	2023-10-25
HOUS Anywhere Real Estate Inc.	Buy	9.26%	-8.23%	2023-10-25

The percentage of cash held in the portfolio is: 51.41%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
AIV	Sell All	-8.07%

Assets Rebalanced

None

2023-10-25 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AIV Apartment Investment and Management Company	Buy	9.28%	-3.2%	2023-10-16
FPI Farmland Partners Inc.	Buy	9.86%	0%	2023-10-25
INN Summit Hotel Properties, Inc.	Buy	9.86%	0%	2023-10-25
LAMR Lamar Advertising Company	Buy	9.86%	0%	2023-10-25
DHC Diversified Healthcare Trust	Buy	9.86%	0%	2023-10-25
HOUS Anywhere Real Estate Inc.	Buy	9.86%	0%	2023-10-25

The percentage of cash held in the portfolio is: 41.43%

New Assets Added

FPI
INN
LAMR
DHC
HOUS

Assets Removed

Asset	Action	Perf %
KRG	Sell All	-1.83%
CIO	Sell All	-3.93%
MLP	Sell All	0.27%

Assets Rebalanced

None

2023-10-20 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
KRG Kite Realty Group Trust	Buy	9.87%	-1.25%	2023-10-11
CIO City Office REIT, Inc.	Buy	10.09%	1.05%	2023-10-11
MLP Maui Land & Pineapple Company, Inc.	Buy	10.03%	0.41%	2023-10-11
AIV Apartment Investment and Management Company	Buy	9.2%	-3.5%	2023-10-16

The percentage of cash held in the portfolio is: 60.81%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
IIPR	Sell All	-1.35%
LAMR	Sell All	1.92%
MAC	Sell All	-1.02%
PGRE	Sell All	2.06%
SLG	Sell All	-8.05%

Assets Rebalanced

None

2023-10-19 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
KRG Kite Realty Group Trust	Buy	9.68%	-0.62%	2023-10-11
SLG SL Green Realty Corp.	Buy	9.96%	2.29%	2023-10-11
PGRE Paramount Group, Inc.	Buy	10.23%	5.05%	2023-10-11
IIPR Innovative Industrial Properties, Inc.	Buy	9.82%	0.87%	2023-10-11
MAC The Macerich Company	Buy	9.92%	1.86%	2023-10-11
CIO City Office REIT, Inc.	Buy	10.27%	5.5%	2023-10-11
LAMR Lamar Advertising Company	Buy	10.02%	2.91%	2023-10-11
MLP Maui Land & Pineapple Company, Inc.	Buy	9.72%	-0.21%	2023-10-11
AIV Apartment Investment and Management Company	Buy	9.18%	-1.22%	2023-10-16

The percentage of cash held in the portfolio is: 11.21%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
PEAK	Sell All	-5.08%

Assets Rebalanced

None

2023-10-16 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
KRG Kite Realty Group Trust	Buy	9.65%	-2.4%	2023-10-11
PEAK Healthpeak Properties, Inc.	Buy	9.6%	-2.96%	2023-10-11
SLG SL Green Realty Corp.	Buy	9.84%	-0.49%	2023-10-11
PGRE Paramount Group, Inc.	Buy	9.94%	0.46%	2023-10-11
IIPR Innovative Industrial Properties, Inc.	Buy	9.8%	-0.94%	2023-10-11
MAC The Macerich Company	Buy	9.97%	0.84%	2023-10-11
CIO City Office REIT, Inc.	Buy	9.74%	-1.57%	2023-10-11
LAMR Lamar Advertising Company	Buy	9.9%	0.04%	2023-10-11
MLP Maui Land & Pineapple Company, Inc.	Buy	10.12%	2.33%	2023-10-11
AIV Apartment Investment and Management Company	Buy	9.44%	0%	2023-10-16

The percentage of cash held in the portfolio is: 2%

New Assets Added

AIV

Assets Removed

Asset	Action	Perf %
SAFE	Sell All	-4.76%

Assets Rebalanced

None

2023-10-11 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
KRG Kite Realty Group Trust	Buy	9.8%	0%	2023-10-11
PEAK Healthpeak Properties, Inc.	Buy	9.8%	0%	2023-10-11
SLG SL Green Realty Corp.	Buy	9.8%	0%	2023-10-11
PGRE Paramount Group, Inc.	Buy	9.8%	0%	2023-10-11
IIPR Innovative Industrial Properties, Inc.	Buy	9.8%	0%	2023-10-11
MAC The Macerich Company	Buy	9.8%	0%	2023-10-11
CIO City Office REIT, Inc.	Buy	9.8%	0%	2023-10-11
SAFE Safehold Inc.	Buy	9.8%	0%	2023-10-11
LAMR Lamar Advertising Company	Buy	9.8%	0%	2023-10-11
MLP Maui Land & Pineapple Company, Inc.	Buy	9.8%	0%	2023-10-11

The percentage of cash held in the portfolio is: 2%

New Assets Added

KRG
PEAK
SLG
PGRE
IIPR
MAC
CIO
SAFE
LAMR
MLP

Assets Removed

None

Assets Rebalanced

None

2023-10-03 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
MLP	Sell All	-2.28%

Assets Rebalanced

None

2023-09-25 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
MLP Maui Land & Pineapple Company, Inc.	Buy	9.73%	-3.11%	2023-09-19

The percentage of cash held in the portfolio is: 90.27%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
RMAX	Sell All	-6.47%

Assets Rebalanced

None

2023-09-22 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
RMAX RE/MAX Holdings, Inc.	Buy	9.89%	-4.58%	2023-09-15
MLP Maui Land & Pineapple Company, Inc.	Buy	10.1%	1.21%	2023-09-19

The percentage of cash held in the portfolio is: 80.01%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
HOUS	Sell All	-3.81%
AXR	Sell All	-1.57%
FSP	Sell All	-6.7%
DHC	Sell All	-13.1%
CUZ	Sell All	-7.91%
CSR	Sell All	-4.32%

Assets Rebalanced

None

2023-09-21 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	10.32%	0.17%	2023-09-08
FSP Franklin Street Properties Corp.	Buy	9.79%	-3.09%	2023-09-15
DHC Diversified Healthcare Trust	Buy	9.54%	-5.56%	2023-09-15
RMAX RE/MAX Holdings, Inc.	Buy	9.71%	-3.86%	2023-09-15
CUZ Cousins Properties Incorporated	Buy	9.97%	-1.76%	2023-09-18
CSR Centerspace	Buy	9.55%	-1.84%	2023-09-19
MLP Maui Land & Pineapple Company, Inc.	Buy	9.78%	0.53%	2023-09-19
HOUS Anywhere Real Estate Inc.	Buy	9.73%	0%	2023-09-20

The percentage of cash held in the portfolio is: 21.61%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
STRS	Sell All	-4.18%

Assets Rebalanced

None

2023-09-20 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	10.46%	2.14%	2023-09-08
STRS Stratus Properties Inc.	Buy	10.03%	-2.09%	2023-09-08
FSP Franklin Street Properties Corp.	Buy	9.78%	-2.58%	2023-09-15
DHC Diversified Healthcare Trust	Buy	9.21%	-8.33%	2023-09-15
RMAX RE/MAX Holdings, Inc.	Buy	9.84%	-2.03%	2023-09-15
CUZ Cousins Properties Incorporated	Buy	9.95%	-1.41%	2023-09-18
CSR Centerspace	Buy	9.58%	-0.91%	2023-09-19
MLP Maui Land & Pineapple Company, Inc.	Buy	9.8%	1.37%	2023-09-19
HOUS Anywhere Real Estate Inc.	Buy	9.67%	0%	2023-09-20

The percentage of cash held in the portfolio is: 11.67%

New Assets Added

HOUS

Assets Removed

None

Assets Rebalanced

None

2023-09-19 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	10.46%	2.43%	2023-09-08
STRS Stratus Properties Inc.	Buy	10.15%	-0.67%	2023-09-08
FSP Franklin Street Properties Corp.	Buy	9.55%	-4.64%	2023-09-15
DHC Diversified Healthcare Trust	Buy	9.26%	-7.54%	2023-09-15
RMAX RE/MAX Holdings, Inc.	Buy	10.11%	0.92%	2023-09-15
CUZ Cousins Properties Incorporated	Buy	9.89%	-1.71%	2023-09-18
CSR Centerspace	Buy	9.64%	0%	2023-09-19
MLP Maui Land & Pineapple Company, Inc.	Buy	9.64%	0%	2023-09-19

The percentage of cash held in the portfolio is: 21.29%

New Assets Added

CSR
MLP

Assets Removed

Asset	Action	Perf %
GNL	Sell All	-4.79%
UNIT	Sell All	-4.21%
BHR	Sell All	-7.56%
LAND	Sell All	-3.22%

Assets Rebalanced

None

2023-09-18 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	10.54%	4.23%	2023-09-08
STRS Stratus Properties Inc.	Buy	10.24%	1.24%	2023-09-08
GNL Global Net Lease, Inc.	Buy	10.06%	-0.44%	2023-09-11
BHR Braemar Hotels & Resorts Inc.	Buy	10.11%	-1.03%	2023-09-13
LAND Gladstone Land Corporation	Buy	9.73%	-1.86%	2023-09-15
FSP Franklin Street Properties Corp.	Buy	9.4%	-5.15%	2023-09-15
UNIT Uniti Group Inc.	Buy	9.5%	-4.21%	2023-09-15
DHC Diversified Healthcare Trust	Buy	9.09%	-8.33%	2023-09-15
RMAX RE/MAX Holdings, Inc.	Buy	9.37%	-5.49%	2023-09-15
CUZ Cousins Properties Incorporated	Buy	9.96%	0%	2023-09-18

The percentage of cash held in the portfolio is: 2%

New Assets Added

CUZ

Assets Removed

None

Assets Rebalanced

None

2023-09-15 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AXR AMREP Corporation	Buy	10.49%	6.2%	2023-09-08
STRS Stratus Properties Inc.	Buy	9.71%	-1.63%	2023-09-08
GNL Global Net Lease, Inc.	Buy	10%	1.33%	2023-09-11
BHR Braemar Hotels & Resorts Inc.	Buy	9.7%	-2.75%	2023-09-13
LAND Gladstone Land Corporation	Buy	9.68%	0%	2023-09-15
FSP Franklin Street Properties Corp.	Buy	9.68%	0%	2023-09-15
UNIT Uniti Group Inc.	Buy	9.68%	0%	2023-09-15
DHC Diversified Healthcare Trust	Buy	9.68%	0%	2023-09-15
RMAX RE/MAX Holdings, Inc.	Buy	9.68%	0%	2023-09-15

The percentage of cash held in the portfolio is: 11.68%

New Assets Added

LAND
FSP
UNIT
DHC
RMAX

Assets Removed

Asset	Action	Perf %
FPH	Sell All	0.33%
PK	Sell All	-2.64%

Assets Rebalanced

None

2023-09-14 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPH Five Point Holdings, LLC	Buy	10.2%	2.29%	2023-09-08
AXR AMREP Corporation	Buy	10.38%	4.12%	2023-09-08
STRS Stratus Properties Inc.	Buy	9.63%	-3.4%	2023-09-08
GNL Global Net Lease, Inc.	Buy	9.68%	-2.84%	2023-09-11
BHR Braemar Hotels & Resorts Inc.	Buy	9.55%	-5.15%	2023-09-13
PK Park Hotels & Resorts Inc.	Buy	9.69%	-3.77%	2023-09-13

The percentage of cash held in the portfolio is: 40.86%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CIO	Sell All	-6.36%
NMRK	Sell All	-7.42%

Assets Rebalanced

None

2023-09-13 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPH Five Point Holdings, LLC	Buy	10.22%	5.56%	2023-09-08
AXR AMREP Corporation	Buy	10.2%	5.39%	2023-09-08
STRS Stratus Properties Inc.	Buy	9.55%	-1.31%	2023-09-08
GNL Global Net Lease, Inc.	Buy	9.54%	-1.42%	2023-09-11
CIO City Office REIT, Inc.	Buy	9.6%	-0.77%	2023-09-11
BHR Braemar Hotels & Resorts Inc.	Buy	9.78%	0%	2023-09-13
PK Park Hotels & Resorts Inc.	Buy	9.78%	0%	2023-09-13
NMRK Newmark Group, Inc.	Buy	9.78%	0%	2023-09-13

The percentage of cash held in the portfolio is: 21.56%

New Assets Added

BHR
PK
NMRK

Assets Removed

Asset	Action	Perf %
MAC	Sell All	1.11%
SKT	Sell All	-2.09%
ESRT	Sell All	2.77%
HST	Sell All	1.3%

Assets Rebalanced

None

2023-09-12 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
MAC The Macerich Company	Buy	9.77%	0.51%	2023-08-30
SKT Tanger Factory Outlet Centers, Inc.	Buy	9.62%	-1.02%	2023-08-30
ESRT Empire State Realty Trust, Inc.	Buy	9.91%	1.97%	2023-08-30
HST Host Hotels & Resorts, Inc.	Buy	9.72%	0%	2023-08-30
FPH Five Point Holdings, LLC	Buy	10%	2.94%	2023-09-08
AXR AMREP Corporation	Buy	10.07%	3.65%	2023-09-08
STRS Stratus Properties Inc.	Buy	9.71%	-0.11%	2023-09-08
GNL Global Net Lease, Inc.	Buy	9.75%	0.35%	2023-09-11
CIO City Office REIT, Inc.	Buy	9.53%	-1.93%	2023-09-11

The percentage of cash held in the portfolio is: 11.93%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
INN	Sell All	2.25%

Assets Rebalanced

None

2023-09-11 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
INN Summit Hotel Properties, Inc.	Buy	9.96%	2.08%	2023-08-29
MAC The Macerich Company	Buy	9.76%	0%	2023-08-30
SKT Tanger Factory Outlet Centers, Inc.	Buy	9.71%	-0.47%	2023-08-30
ESRT Empire State Realty Trust, Inc.	Buy	9.95%	1.97%	2023-08-30
HST Host Hotels & Resorts, Inc.	Buy	9.7%	-0.56%	2023-08-30
FPH Five Point Holdings, LLC	Buy	9.85%	0.98%	2023-09-08
AXR AMREP Corporation	Buy	9.79%	0.41%	2023-09-08
STRS Stratus Properties Inc.	Buy	9.78%	0.25%	2023-09-08
GNL Global Net Lease, Inc.	Buy	9.75%	0%	2023-09-11
CIO City Office REIT, Inc.	Buy	9.75%	0%	2023-09-11

The percentage of cash held in the portfolio is: 2%

New Assets Added

GNL
CIO

Assets Removed

None

Assets Rebalanced

None

2023-09-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
INN Summit Hotel Properties, Inc.	Buy	9.84%	0.69%	2023-08-29
MAC The Macerich Company	Buy	9.84%	0.6%	2023-08-30
SKT Tanger Factory Outlet Centers, Inc.	Buy	9.87%	0.98%	2023-08-30
ESRT Empire State Realty Trust, Inc.	Buy	10.05%	2.77%	2023-08-30
HST Host Hotels & Resorts, Inc.	Buy	9.52%	-2.66%	2023-08-30
FPH Five Point Holdings, LLC	Buy	9.78%	0%	2023-09-08
AXR AMREP Corporation	Buy	9.78%	0%	2023-09-08
STRS Stratus Properties Inc.	Buy	9.78%	0%	2023-09-08

The percentage of cash held in the portfolio is: 21.55%

New Assets Added

FPH
AXR
STRS

Assets Removed

None

Assets Rebalanced

None

2023-08-30 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
INN Summit Hotel Properties, Inc.	Buy	9.97%	1.91%	2023-08-29
MAC The Macerich Company	Buy	9.78%	0%	2023-08-30
SKT Tanger Factory Outlet Centers, Inc.	Buy	9.78%	0%	2023-08-30
ESRT Empire State Realty Trust, Inc.	Buy	9.78%	0%	2023-08-30
HST Host Hotels & Resorts, Inc.	Buy	9.78%	0%	2023-08-30

The percentage of cash held in the portfolio is: 50.91%

New Assets Added

MAC
SKT
ESRT
HST

Assets Removed

None

Assets Rebalanced

None

2023-08-29 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
INN Summit Hotel Properties, Inc.	Buy	9.8%	0%	2023-08-29

The percentage of cash held in the portfolio is: 90.2%

New Assets Added

INN

Assets Removed

None

Assets Rebalanced

None

2023-08-02 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
GNL	Sell All	-5.45%
CIO	Sell All	-8.73%

Assets Rebalanced

None

2023-07-31 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
GNL Global Net Lease, Inc.	Buy	9.25%	-3.49%	2023-07-20
CIO City Office REIT, Inc.	Buy	9.25%	-3.49%	2023-07-20

The percentage of cash held in the portfolio is: 81.5%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
AMT	Sell All	-0.97%
AIV	Sell All	-3.54%

Assets Rebalanced

None

2023-07-28 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
AIV Apartment Investment and Management Company	Buy	9.43%	-2.63%	2023-07-17
GNL Global Net Lease, Inc.	Buy	9.33%	-2.32%	2023-07-20
CIO City Office REIT, Inc.	Buy	9.12%	-4.54%	2023-07-20
AMT American Tower Corporation	Buy	9.35%	1.26%	2023-07-25

The percentage of cash held in the portfolio is: 62.77%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
KRG	Sell All	-1%

Assets Rebalanced

None

2023-07-27 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
KRG Kite Realty Group Trust	Buy	9.72%	1.09%	2023-07-14
AIV Apartment Investment and Management Company	Buy	9.67%	0.46%	2023-07-17
GNL Global Net Lease, Inc.	Buy	9.48%	-0.09%	2023-07-20
CIO City Office REIT, Inc.	Buy	9.16%	-3.49%	2023-07-20
AMT American Tower Corporation	Buy	9.13%	-0.45%	2023-07-25

The percentage of cash held in the portfolio is: 52.84%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
HOUS	Sell All	29.14%

Assets Rebalanced

None

2023-07-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
HOUS Anywhere Real Estate Inc.	Buy	11.97%	23%	2023-07-13
KRG Kite Realty Group Trust	Buy	9.75%	0.35%	2023-07-14
AIV Apartment Investment and Management Company	Buy	9.76%	0.34%	2023-07-17
GNL Global Net Lease, Inc.	Buy	9.5%	-0.98%	2023-07-20
CIO City Office REIT, Inc.	Buy	9.11%	-5.06%	2023-07-20
AMT American Tower Corporation	Buy	9.07%	-2.12%	2023-07-25

The percentage of cash held in the portfolio is: 40.84%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
FRPH	Sell All	0.45%
RMAX	Sell All	3.61%
KW	Sell All	-0.06%

Assets Rebalanced

None

2023-07-25 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FRPH FRP Holdings, Inc.	Buy	9.74%	-0.26%	2023-07-12
RMAX RE/MAX Holdings, Inc.	Buy	10.17%	4.12%	2023-07-12
KW Kennedy-Wilson Holdings, Inc.	Buy	9.93%	1.67%	2023-07-12
HOUS Anywhere Real Estate Inc.	Buy	10.69%	9.43%	2023-07-13
KRG Kite Realty Group Trust	Buy	9.91%	1.61%	2023-07-14
AIV Apartment Investment and Management Company	Buy	9.92%	1.6%	2023-07-17
GNL Global Net Lease, Inc.	Buy	9.6%	-0.27%	2023-07-20
CIO City Office REIT, Inc.	Buy	9.43%	-2.09%	2023-07-20
AMT American Tower Corporation	Buy	9.3%	0%	2023-07-25

The percentage of cash held in the portfolio is: 11.3%

New Assets Added

AMT

Assets Removed

None

Assets Rebalanced

None

2023-07-24 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FRPH FRP Holdings, Inc.	Buy	10.08%	2.01%	2023-07-12
RMAX RE/MAX Holdings, Inc.	Buy	10.01%	1.29%	2023-07-12
KW Kennedy-Wilson Holdings, Inc.	Buy	9.86%	-0.18%	2023-07-12
HOUS Anywhere Real Estate Inc.	Buy	10.16%	2.86%	2023-07-13
KRG Kite Realty Group Trust	Buy	10%	1.35%	2023-07-14
AIV Apartment Investment and Management Company	Buy	10.03%	1.6%	2023-07-17
GNL Global Net Lease, Inc.	Buy	9.64%	-0.98%	2023-07-20
CIO City Office REIT, Inc.	Buy	9.4%	-3.49%	2023-07-20

The percentage of cash held in the portfolio is: 20.84%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
NMRK	Sell All	1.63%
OPI	Sell All	-10.22%

Assets Rebalanced

None

2023-07-20 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
NMRK Newmark Group, Inc.	Buy	10.37%	7.88%	2023-07-12
FRPH FRP Holdings, Inc.	Buy	9.85%	2.43%	2023-07-12
RMAX RE/MAX Holdings, Inc.	Buy	9.74%	1.29%	2023-07-12
KW Kennedy-Wilson Holdings, Inc.	Buy	9.83%	2.26%	2023-07-12
HOUS Anywhere Real Estate Inc.	Buy	10.39%	8.14%	2023-07-13
KRG Kite Realty Group Trust	Buy	9.78%	1.91%	2023-07-14
AIV Apartment Investment and Management Company	Buy	9.62%	0.11%	2023-07-17
OPI Office Properties Income Trust	Buy	9.47%	0%	2023-07-20
GNL Global Net Lease, Inc.	Buy	9.47%	0%	2023-07-20
CIO City Office REIT, Inc.	Buy	9.47%	0%	2023-07-20

The percentage of cash held in the portfolio is: 2%

New Assets Added

OPI
GNL
CIO

Assets Removed

None

Assets Rebalanced

None

2023-07-18 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
NMRK Newmark Group, Inc.	Buy	10.14%	4.01%	2023-07-12
FRPH FRP Holdings, Inc.	Buy	9.73%	-0.21%	2023-07-12
RMAX RE/MAX Holdings, Inc.	Buy	9.94%	1.96%	2023-07-12
KW Kennedy-Wilson Holdings, Inc.	Buy	9.77%	0.3%	2023-07-12
HOUS Anywhere Real Estate Inc.	Buy	10.1%	3.71%	2023-07-13
KRG Kite Realty Group Trust	Buy	9.74%	0.04%	2023-07-14
AIV Apartment Investment and Management Company	Buy	9.74%	0%	2023-07-17

The percentage of cash held in the portfolio is: 30.84%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
PGRE	Sell All	-4.11%

Assets Rebalanced

None

2023-07-17 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PGRE Paramount Group, Inc.	Buy	9.72%	0.59%	2023-07-12
NMRK Newmark Group, Inc.	Buy	10.01%	3.57%	2023-07-12
FRPH FRP Holdings, Inc.	Buy	9.66%	-0.03%	2023-07-12
RMAX RE/MAX Holdings, Inc.	Buy	10.06%	4.02%	2023-07-12
KW Kennedy-Wilson Holdings, Inc.	Buy	9.74%	0.77%	2023-07-12
HOUS Anywhere Real Estate Inc.	Buy	10.17%	5.29%	2023-07-13
KRG Kite Realty Group Trust	Buy	9.64%	-0.13%	2023-07-14
AIV Apartment Investment and Management Company	Buy	9.66%	0%	2023-07-17

The percentage of cash held in the portfolio is: 21.33%

New Assets Added

AIV

Assets Removed

None

Assets Rebalanced

None

2023-07-14 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PGRE Paramount Group, Inc.	Buy	9.69%	1.37%	2023-07-12
NMRK Newmark Group, Inc.	Buy	10.11%	5.79%	2023-07-12
FRPH FRP Holdings, Inc.	Buy	9.63%	0.79%	2023-07-12
RMAX RE/MAX Holdings, Inc.	Buy	10.09%	5.52%	2023-07-12
KW Kennedy-Wilson Holdings, Inc.	Buy	9.8%	2.5%	2023-07-12
HOUS Anywhere Real Estate Inc.	Buy	10.5%	9.86%	2023-07-13
KRG Kite Realty Group Trust	Buy	9.55%	0%	2023-07-14

The percentage of cash held in the portfolio is: 30.64%

New Assets Added

KRG

Assets Removed

None

Assets Rebalanced

None

2023-07-13 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PGRE Paramount Group, Inc.	Buy	9.76%	0.39%	2023-07-12
NMRK Newmark Group, Inc.	Buy	10.04%	3.27%	2023-07-12
FRPH FRP Holdings, Inc.	Buy	9.73%	0.09%	2023-07-12
RMAX RE/MAX Holdings, Inc.	Buy	9.97%	2.63%	2023-07-12
KW Kennedy-Wilson Holdings, Inc.	Buy	9.92%	2.08%	2023-07-12
HOUS Anywhere Real Estate Inc.	Buy	9.72%	0%	2023-07-13

The percentage of cash held in the portfolio is: 40.86%

New Assets Added

HOUS

Assets Removed

None

Assets Rebalanced

None

2023-07-12 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
PGRE Paramount Group, Inc.	Buy	9.8%	0%	2023-07-12
NMRK Newmark Group, Inc.	Buy	9.8%	0%	2023-07-12
FRPH FRP Holdings, Inc.	Buy	9.8%	0%	2023-07-12
RMAX RE/MAX Holdings, Inc.	Buy	9.8%	0%	2023-07-12
KW Kennedy-Wilson Holdings, Inc.	Buy	9.8%	0%	2023-07-12

The percentage of cash held in the portfolio is: 51%

New Assets Added

PGRE
NMRK
FRPH
RMAX
KW

Assets Removed

None

Assets Rebalanced

None

2023-07-06 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
FPH	Sell All	11.07%

Assets Rebalanced

None

2023-06-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPH Five Point Holdings, LLC	Buy	10.34%	5.53%	2023-06-22

The percentage of cash held in the portfolio is: 89.66%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CLDT	Sell All	-5.21%

Assets Rebalanced

None

2023-06-22 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
CLDT Chatham Lodging Trust	Buy	9.56%	-2.82%	2023-06-19
FPH Five Point Holdings, LLC	Buy	9.83%	0%	2023-06-22

The percentage of cash held in the portfolio is: 80.61%

New Assets Added

FPH

Assets Removed

Asset	Action	Perf %
ESRT	Sell All	0.14%

Assets Rebalanced

None

2023-06-21 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ESRT Empire State Realty Trust, Inc.	Buy	9.83%	0.14%	2023-06-08
CLDT Chatham Lodging Trust	Buy	9.73%	-0.94%	2023-06-19

The percentage of cash held in the portfolio is: 80.44%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
HASI	Sell All	-4.77%
SITC	Sell All	2.98%
SVC	Sell All	-3.77%
BXP	Sell All	3.98%

Assets Rebalanced

None

2023-06-19 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SITC SITE Centers Corp.	Buy	10.17%	4.7%	2023-06-07
SVC Service Properties Trust	Buy	9.49%	-2.33%	2023-06-07
BXP Boston Properties, Inc.	Buy	10.28%	5.76%	2023-06-07
ESRT Empire State Realty Trust, Inc.	Buy	9.91%	2.02%	2023-06-08
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.59%	-1.24%	2023-06-15
CLDT Chatham Lodging Trust	Buy	9.71%	0%	2023-06-19

The percentage of cash held in the portfolio is: 40.85%

New Assets Added

CLDT

Assets Removed

None

Assets Rebalanced

None

2023-06-15 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SITC SITE Centers Corp.	Buy	10.07%	3.37%	2023-06-07
SVC Service Properties Trust	Buy	9.56%	-1.88%	2023-06-07
BXP Boston Properties, Inc.	Buy	10.15%	4.21%	2023-06-07
ESRT Empire State Realty Trust, Inc.	Buy	9.78%	0.43%	2023-06-08
HASI Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Buy	9.74%	0%	2023-06-15

The percentage of cash held in the portfolio is: 50.7%

New Assets Added

HASI

Assets Removed

None

Assets Rebalanced

None

2023-06-08 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SITC SITE Centers Corp.	Buy	10.12%	4.15%	2023-06-07
SVC Service Properties Trust	Buy	9.74%	0.33%	2023-06-07
BXP Boston Properties, Inc.	Buy	10.17%	4.69%	2023-06-07
ESRT Empire State Realty Trust, Inc.	Buy	9.71%	0%	2023-06-08

The percentage of cash held in the portfolio is: 60.26%

New Assets Added

ESRT

Assets Removed

None

Assets Rebalanced

None

2023-06-07 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
SITC SITE Centers Corp.	Buy	9.8%	0%	2023-06-07
SVC Service Properties Trust	Buy	9.8%	0%	2023-06-07
BXP Boston Properties, Inc.	Buy	9.8%	0%	2023-06-07

The percentage of cash held in the portfolio is: 70.6%

New Assets Added

SITC
SVC
BXP

Assets Removed

None

Assets Rebalanced

None

2023-05-29 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
NMRK	Sell All	9.81%

Assets Rebalanced

None

2023-05-25 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
NMRK Newmark Group, Inc.	Buy	10.27%	5.19%	2023-05-15

The percentage of cash held in the portfolio is: 89.73%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
BFS	Sell All	1.18%

Assets Rebalanced

None

2023-05-19 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
BFS Saul Centers, Inc.	Buy	9.65%	4.44%	2023-05-11
NMRK Newmark Group, Inc.	Buy	10.59%	9.26%	2023-05-15

The percentage of cash held in the portfolio is: 79.75%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
FPI	Sell All	2.84%

Assets Rebalanced

None

2023-05-16 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FPI Farmland Partners Inc.	Buy	9.97%	1.99%	2023-05-05
BFS Saul Centers, Inc.	Buy	9.37%	0.24%	2023-05-11
NMRK Newmark Group, Inc.	Buy	10.02%	2.22%	2023-05-15

The percentage of cash held in the portfolio is: 70.64%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
CHCT	Sell All	-1.67%

Assets Rebalanced

None

2023-05-15 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
CHCT Community Healthcare Trust Incorporated	Buy	9.84%	-1.72%	2023-05-02
FPI Farmland Partners Inc.	Buy	9.92%	1.14%	2023-05-05
BFS Saul Centers, Inc.	Buy	9.34%	-0.56%	2023-05-11
NMRK Newmark Group, Inc.	Buy	9.84%	0%	2023-05-15

The percentage of cash held in the portfolio is: 61.06%

New Assets Added

NMRK

Assets Removed

Asset	Action	Perf %
BHR	Sell All	5.26%
IIPR	Sell All	1.27%
ESS	Sell All	-2.01%
CTRE	Sell All	1.69%
FR	Sell All	1.58%
RPT	Sell All	-3.98%
PLYM	Sell All	3.75%

Assets Rebalanced

None

2023-05-11 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
BHR Braemar Hotels & Resorts Inc.	Buy	10.26%	7.11%	2023-05-01
IIPR Innovative Industrial Properties, Inc.	Buy	10.08%	5.22%	2023-05-01
ESS Essex Property Trust, Inc.	Buy	9.45%	-1.35%	2023-05-01
CTRE CareTrust REIT, Inc.	Buy	9.9%	3.28%	2023-05-01
FR First Industrial Realty Trust, Inc.	Buy	9.92%	3.54%	2023-05-01
RPT RPT Realty	Buy	9.3%	-2.9%	2023-05-01
PLYM Plymouth Industrial REIT, Inc.	Buy	10.21%	6.52%	2023-05-01
CHCT Community Healthcare Trust Incorporated	Buy	9.85%	-0.08%	2023-05-02
FPI Farmland Partners Inc.	Buy	9.77%	1.23%	2023-05-05
BFS Saul Centers, Inc.	Buy	9.24%	0%	2023-05-11

The percentage of cash held in the portfolio is: 2%

New Assets Added

BFS

Assets Removed

Asset	Action	Perf %
ARL	Sell All	-3.24%

Assets Rebalanced

None

2023-05-05 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ARL American Realty Investors, Inc.	Buy	9.53%	-2.21%	2023-04-27
BHR Braemar Hotels & Resorts Inc.	Buy	10.13%	3.95%	2023-05-01
IIPR Innovative Industrial Properties, Inc.	Buy	9.71%	-0.34%	2023-05-01
ESS Essex Property Trust, Inc.	Buy	9.61%	-1.42%	2023-05-01
CTRE CareTrust REIT, Inc.	Buy	9.75%	0.1%	2023-05-01
FR First Industrial Realty Trust, Inc.	Buy	9.93%	1.87%	2023-05-01
RPT RPT Realty	Buy	9.43%	-3.23%	2023-05-01
PLYM Plymouth Industrial REIT, Inc.	Buy	9.96%	2.22%	2023-05-01
CHCT Community Healthcare Trust Incorporated	Buy	10.13%	1.08%	2023-05-02
FPI Farmland Partners Inc.	Buy	9.82%	0%	2023-05-05

The percentage of cash held in the portfolio is: 2%

New Assets Added

FPI

Assets Removed

None

Assets Rebalanced

None

2023-05-03 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
ARL American Realty Investors, Inc.	Buy	9.37%	-5.56%	2023-04-27
BHR Braemar Hotels & Resorts Inc.	Buy	9.81%	-1.05%	2023-05-01
IIPR Innovative Industrial Properties, Inc.	Buy	9.77%	-1.52%	2023-05-01
ESS Essex Property Trust, Inc.	Buy	9.8%	-1.17%	2023-05-01
CTRE CareTrust REIT, Inc.	Buy	9.79%	-1.23%	2023-05-01
FR First Industrial Realty Trust, Inc.	Buy	9.86%	-0.51%	2023-05-01
RPT RPT Realty	Buy	9.66%	-2.58%	2023-05-01
PLYM Plymouth Industrial REIT, Inc.	Buy	9.68%	-2.42%	2023-05-01
CHCT Community Healthcare Trust Incorporated	Buy	10.24%	0.33%	2023-05-02

The percentage of cash held in the portfolio is: 12.03%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
BXP	Sell All	-2.74%

Assets Rebalanced

None

2023-05-02 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
BXP Boston Properties, Inc.	Buy	10.14%	0.3%	2023-04-19
ARL American Realty Investors, Inc.	Buy	9.61%	-1.51%	2023-04-27
BHR Braemar Hotels & Resorts Inc.	Buy	10.01%	2.63%	2023-05-01
IIPR Innovative Industrial Properties, Inc.	Buy	9.76%	0.06%	2023-05-01
ESS Essex Property Trust, Inc.	Buy	9.79%	0.42%	2023-05-01
CTRE CareTrust REIT, Inc.	Buy	9.68%	-0.72%	2023-05-01
FR First Industrial Realty Trust, Inc.	Buy	9.65%	-1.09%	2023-05-01
RPT RPT Realty	Buy	9.64%	-1.18%	2023-05-01
PLYM Plymouth Industrial REIT, Inc.	Buy	9.69%	-0.64%	2023-05-01
CHCT Community Healthcare Trust Incorporated	Buy	10.03%	0%	2023-05-02

The percentage of cash held in the portfolio is: 2%

New Assets Added

CHCT

Assets Removed

Asset	Action	Perf %
DBRG	Sell All	-0.82%

Assets Rebalanced

None

2023-05-01 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DBRG DigitalBridge Group, Inc.	Buy	10.23%	1.89%	2023-04-18
BXP Boston Properties, Inc.	Buy	10.18%	1.35%	2023-04-19
ARL American Realty Investors, Inc.	Buy	9.75%	0.54%	2023-04-27
BHR Braemar Hotels & Resorts Inc.	Buy	9.69%	0%	2023-05-01
IIPR Innovative Industrial Properties, Inc.	Buy	9.69%	0%	2023-05-01
ESS Essex Property Trust, Inc.	Buy	9.69%	0%	2023-05-01
CTRE CareTrust REIT, Inc.	Buy	9.69%	0%	2023-05-01
FR First Industrial Realty Trust, Inc.	Buy	9.69%	0%	2023-05-01
RPT RPT Realty	Buy	9.69%	0%	2023-05-01
PLYM Plymouth Industrial REIT, Inc.	Buy	9.69%	0%	2023-05-01

The percentage of cash held in the portfolio is: 2%

New Assets Added

BHR
IIPR
ESS
CTRE
FR
RPT
PLYM

Assets Removed

None

Assets Rebalanced

None

2023-04-27 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DBRG DigitalBridge Group, Inc.	Buy	9.75%	-3.93%	2023-04-18
BXP Boston Properties, Inc.	Buy	9.87%	-2.79%	2023-04-19
ARL American Realty Investors, Inc.	Buy	9.8%	0%	2023-04-27

The percentage of cash held in the portfolio is: 70.59%

New Assets Added

ARL

Assets Removed

Asset	Action	Perf %
BHR	Sell All	-9.25%

Assets Rebalanced

None

2023-04-26 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
DBRG DigitalBridge Group, Inc.	Buy	9.73%	-4.02%	2023-04-18
BHR Braemar Hotels & Resorts Inc.	Buy	9.51%	-6.17%	2023-04-19
BXP Boston Properties, Inc.	Buy	9.68%	-4.46%	2023-04-19

The percentage of cash held in the portfolio is: 71.08%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
OUT	Sell All	-0.37%

Assets Rebalanced

None

2023-04-25 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
OUT Outfront Media Inc.	Buy	10.07%	1.48%	2023-04-12
DBRG DigitalBridge Group, Inc.	Buy	9.8%	-2.21%	2023-04-18
BHR Braemar Hotels & Resorts Inc.	Buy	9.79%	-2.31%	2023-04-19
BXP Boston Properties, Inc.	Buy	9.91%	-1.18%	2023-04-19

The percentage of cash held in the portfolio is: 60.43%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
FRPH	Sell All	-1.11%

Assets Rebalanced

None

2023-04-21 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FRPH FRP Holdings, Inc.	Buy	9.99%	0.51%	2023-04-11
OUT Outfront Media Inc.	Buy	9.81%	-1.29%	2023-04-12
DBRG DigitalBridge Group, Inc.	Buy	9.74%	-3.03%	2023-04-18
BHR Braemar Hotels & Resorts Inc.	Buy	9.76%	-2.83%	2023-04-19
BXP Boston Properties, Inc.	Buy	9.98%	-0.7%	2023-04-19

The percentage of cash held in the portfolio is: 50.71%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
ARL	Sell All	-14.58%

Assets Rebalanced

None

2023-04-19 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FRPH FRP Holdings, Inc.	Buy	9.88%	1.11%	2023-04-11
OUT Outfront Media Inc.	Buy	9.84%	0.74%	2023-04-12
ARL American Realty Investors, Inc.	Buy	9.39%	-3.9%	2023-04-12
DBRG DigitalBridge Group, Inc.	Buy	9.65%	-2.3%	2023-04-18
BHR Braemar Hotels & Resorts Inc.	Buy	9.87%	0%	2023-04-19
BXP Boston Properties, Inc.	Buy	9.87%	0%	2023-04-19

The percentage of cash held in the portfolio is: 41.49%

New Assets Added

BHR
BXP

Assets Removed

None

Assets Rebalanced

None

2023-04-18 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FRPH FRP Holdings, Inc.	Buy	9.93%	2.13%	2023-04-11
OUT Outfront Media Inc.	Buy	9.8%	0.8%	2023-04-12
ARL American Realty Investors, Inc.	Buy	9.5%	-2.32%	2023-04-12
DBRG DigitalBridge Group, Inc.	Buy	9.82%	0%	2023-04-18

The percentage of cash held in the portfolio is: 60.94%

New Assets Added

DBRG

Assets Removed

None

Assets Rebalanced

None

2023-04-13 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
FRPH FRP Holdings, Inc.	Buy	9.83%	0.92%	2023-04-11
OUT Outfront Media Inc.	Buy	9.56%	-1.85%	2023-04-12
ARL American Realty Investors, Inc.	Buy	9.69%	-0.6%	2023-04-12

The percentage of cash held in the portfolio is: 70.92%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
EQR	Sell All	3.87%
MMI	Sell All	1.09%

Assets Rebalanced

None

2023-04-12 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
EQR Equity Residential	Buy	10.3%	4.67%	2023-03-30
MMI Marcus & Millichap, Inc.	Buy	10%	1.6%	2023-03-30
FRPH FRP Holdings, Inc.	Buy	9.59%	-1.46%	2023-04-11
OUT Outfront Media Inc.	Buy	9.73%	0%	2023-04-12
ARL American Realty Investors, Inc.	Buy	9.73%	0%	2023-04-12

The percentage of cash held in the portfolio is: 50.66%

New Assets Added

OUT
ARL

Assets Removed

None

Assets Rebalanced

None

2023-04-11 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
EQR Equity Residential	Buy	10.26%	4.38%	2023-03-30
MMI Marcus & Millichap, Inc.	Buy	9.97%	1.41%	2023-03-30
FRPH FRP Holdings, Inc.	Buy	9.72%	0%	2023-04-11

The percentage of cash held in the portfolio is: 70.05%

New Assets Added

FRPH

Assets Removed

None

Assets Rebalanced

None

2023-04-06 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
EQR Equity Residential	Buy	10.19%	3.53%	2023-03-30
MMI Marcus & Millichap, Inc.	Buy	9.95%	1.09%	2023-03-30

The percentage of cash held in the portfolio is: 79.87%

New Assets Added

None

Assets Removed

Asset	Action	Perf %
INN	Sell All	-2.49%
RDFN	Sell All	-6.29%

Assets Rebalanced

None

2023-04-03 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
INN Summit Hotel Properties, Inc.	Buy	9.96%	2.64%	2023-03-30
EQR Equity Residential	Buy	10.12%	4.2%	2023-03-30
MMI Marcus & Millichap, Inc.	Buy	9.98%	2.78%	2023-03-30
RDFN Redfin Corporation	Buy	9.71%	0%	2023-04-03

The percentage of cash held in the portfolio is: 60.23%

New Assets Added

RDFN

Assets Removed

None

Assets Rebalanced

None

2023-03-30 00:00:00 : Portfolio change date

Asset	Action	Weight	PnL	Entry Date
INN Summit Hotel Properties, Inc.	Buy	9.8%	0%	2023-03-30
EQR Equity Residential	Buy	9.8%	0%	2023-03-30
MMI Marcus & Millichap, Inc.	Buy	9.8%	0%	2023-03-30

The percentage of cash held in the portfolio is: 70.6%

New Assets Added

INN
EQR
MMI

Assets Removed

None

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None

2023-02-22 00:00:00 : Portfolio change date

No Asset in the portfolio

The percentage of cash held in the portfolio is: 100%

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Assets Removed

Asset	Action	Perf %
MLP	Sell All	0.55%

Assets Rebalanced

None

1D	0.1 %
1W	0.7 %
2W	-0.9 %
1M	-0.2 %

3M	-2.9 %
6M	-6.1 %
9M	-6.4 %
1Y	2.8 %

Calculation Frequency	Daily
Latest Valuation Time	2024-09-18 07:50:58
Launch Date	2023-01-01 00:00:00
First Valuation Date	2021-01-01 00:00:00
Max. DrawDown	-12.27%
Max. DrawDown Benchmark	-8.41%

Portfolio Reference	CC10LO1WS2
Performance Over 3M	-5.5%
Performance Over 6M	-8.0%

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Current Portfolio Composition

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