| Issuer | % book | Δ shares | Conviction | Business |
|---|
| $NHI · NATIONAL HEALTH INVS INC | 8.0% | +42% | Med | Senior housing and healthcare REIT |
| $SPG · SIMON PPTY GROUP INC NEW | 6.9% | +30% | Med | Shopping mall and retail real-estate REIT |
| $RHP · RYMAN HOSPITALITY PPTYS INC | 4.5% | +42% | Med | Convention hotel and entertainment REIT |
| $CBRE · CBRE GROUP INC | 4.2% | +45% | Med | Global commercial real estate services |
| $CURB · CURBLINE PPTYS CORP | 3.9% | +316% | Med | Convenience retail strip-center REIT |
| $PLD · PROLOGIS INC. | 3.8% | +26% | Med | Industrial logistics warehouse REIT |
| Issuer | % book | Business |
|---|
| $FR · FIRST INDL RLTY TR INC | 8.5% | Industrial warehouse REIT |
| $INVH · INVITATION HOMES INC | 8.3% | Single-family rental home REIT |
| $AHR · AMERICAN HEALTHCARE REIT INC | 8.1% | Healthcare property REIT (senior, medical) |
| $NHI · NATIONAL HEALTH INVS INC | 8.0% | Senior housing and healthcare REIT |
| $EQIX · EQUINIX INC | 7.8% | Global data-center and interconnection REIT |
| $SPG · SIMON PPTY GROUP INC NEW | 6.9% | Shopping mall and retail real-estate REIT |
| $SUI · SUN CMNTYS INC | 5.9% | Manufactured housing and RV community REIT |
| $VEN · VENTAS INC | 5.1% | Healthcare-focused REIT (senior housing, medical) |
| $SKT · TANGER INC | 4.6% | |
| $RHP · RYMAN HOSPITALITY PPTYS INC | 4.5% | Convention hotel and entertainment REIT |