| Ranger Global Real Estate Advisors, LLC | 3,077,584 | $56,073,578 | 9.18% |
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| Waterfront Capital Partners, LLC | 2,989,175 | $54,462,769 | 4.57% |
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| Long Pond Capital | 4,135,786 | $75,354,021 | 4.44% |
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| Land & Buildings Investment Management | 516,900 | $9,417,918 | 1.98% |
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| HGI Capital Management, LLC | 134,957 | $2,458,917 | 1.18% |
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| Phocas Financial Corp. | 445,776 | $8,122,000 | 1.11% |
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| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | 3,064,283 | $55,831,236 | 1.00% |
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| BARD ASSOCIATES INC | 137,926 | $2,534,512 | 0.98% |
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| Paradigm Financial Partners, LLC | 190,336 | $3,467,922 | 0.94% |
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| MOODY ALDRICH PARTNERS LLC | 246,351 | $4,488,515 | 0.87% |
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| AEW CAPITAL MANAGEMENT L P | 1,217,593 | $22,184,544 | 0.85% |
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| Berger Financial Group, Inc | 372,788 | $6,792,198 | 0.77% |
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| Lifestyle Asset Management, Inc. | 69,942 | $1,274,343 | 0.76% |
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| Pensionfund DSM Netherlands | 62,000 | $1,130 | 0.74% |
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| LDR Capital Management LLC | 61,659 | $1,123,427 | 0.70% |
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| Taylor Frigon Capital Management LLC | 77,270 | $1,407,853 | 0.69% |
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| KENNEDY CAPITAL MANAGEMENT LLC | 1,215,556 | $22,147,430 | 0.52% |
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| Advisor Resource Council | 61,172 | $1,114,554 | 0.50% |
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| Lighthouse Investment Partners, LLC | 500,000 | $9,110,000 | 0.48% |
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| ENDEAVOUR CAPITAL ADVISORS INC | 56,109 | $1,022,306 | 0.45% |
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