The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M CO COM 88579Y101 252 1,780 SH   SOLE   1,780 0 0
ABBOTT LABS COM 002824100 286 6,870 SH   SOLE   6,870 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 322 3,960 SH   SOLE   3,960 0 0
ACCESS MIDSTREAM PARTNERS L UNIT 00434L109 1,595 25,060 SH   SOLE   25,060 0 0
ACTUANT CORP CL A NEW 00508X203 3,705 121,400 SH   SOLE   121,400 0 0
AEROPOSTALE COM 007865108 3,514 1,068,200 SH   SOLE   1,068,200 0 0
ALLIANZGI EQUITY & CONV INCO COM 018829101 1,286 64,722 SH   SOLE   64,722 0 0
ALPHA NATURAL RESOURCES INC COM 02076X102 789 318,310 SH   SOLE   318,310 0 0
ALTRIA GROUP INC COM 02209S103 334 7,280 SH   SOLE   7,280 0 0
AMAZON COM INC COM 023135106 18,943 58,750 SH   SOLE   58,750 0 0
AMERICAN CAP LTD COM 02503Y103 283 20,000 SH   SOLE   20,000 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 3,350 178,000 SH   SOLE   178,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 557 33,000 SH   SOLE   33,000 0 0
AMERICAN RESIDENTIAL PPTYS I COM 02927E303 569 31,000 SH   SOLE   31,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100 4,115 43,950 SH   SOLE   43,950 0 0
ANWORTH MORTGAGE ASSET CP COM 037347101 3,183 664,600 SH   SOLE   664,600 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 3,872 121,700 SH   SOLE   121,700 0 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 3,060 198,300 SH   SOLE   198,300 0 0
APPLE INC COM 037833100 430 4,270 SH   SOLE   4,270 0 0
ATLAS ENERGY LP COM UNITS LP 04930A104 998 22,680 SH   SOLE   22,680 0 0
AUTOZONE INC COM 053332102 347 680 SH   SOLE   680 0 0
AVALONBAY CMNTYS INC COM 053484101 379 2,689 SH   SOLE   2,689 0 0
AVIV REIT INC MD COM 05381L101 3,038 115,300 SH   SOLE   115,300 0 0
BARD C R INC COM 067383109 250 1,750 SH   SOLE   1,750 0 0
BARRICK GOLD CORP COM 067901108 4,046 276,000 SH   SOLE   276,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 50,559 366,000 SH   SOLE   366,000 0 0
BLACKROCK CR ALLCTN INC TR COM 092508100 1,331 100,000 SH   SOLE   100,000 0 0
BLACKROCK ENERGY & RES TR COM 09250U101 454 19,000 SH   SOLE   19,000 0 0
BLACKROCK GLOBAL OPP EQTY TR COM 092501105 227 16,100 SH   SOLE   16,100 0 0
BLACKROCK INCOME TR INC COM 09247F100 262 41,321 SH   SOLE   41,321 0 0
BLACKROCK INTL GRWTH & INC T COM BENE INTER 092524107 270 35,900 SH   SOLE   35,900 0 0
BLACKROCK MUNIASSETS FD INC COM 09254J102 202 15,360 SH   SOLE   15,360 0 0
BLACKROCK MUNIHLDS INVSTM QL COM 09254P108 1,179 84,800 SH   SOLE   84,800 0 0
BLACKROCK MUNIYIELD CALI QLT COM 09254N103 341 23,400 SH   SOLE   23,400 0 0
BLACKROCK REAL ASSET EQUITY COM 09254B109 178 21,000 SH   SOLE   21,000 0 0
BLACKROCK RES & COMM STRAT T SHS 09257A108 483 43,000 SH   SOLE   43,000 0 0
BOSTON PROPERTIES INC COM 101121101 3,869 33,420 SH   SOLE   33,420 0 0
CAMDEN PPTY TR SH BEN INT 133131102 3,789 55,290 SH   SOLE   55,290 0 0
CAMPBELL SOUP CO COM 134429109 230 5,390 SH   SOLE   5,390 0 0
CBL & ASSOC PPTYS INC COM 124830100 3,665 204,740 SH   SOLE   204,740 0 0
CBRE CLARION GLOBAL REAL EST COM 12504G100 1,425 170,000 SH   SOLE   170,000 0 0
CDW CORP COM 12514G108 3,384 109,000 SH   SOLE   109,000 0 0
CENTRAL GOLDTRUST TR UNIT 153546106 414 10,000 SH   SOLE   10,000 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 3,603 23,800 SH   SOLE   23,800 0 0
CHATHAM LODGING TR COM 16208T102 231 10,000 SH   SOLE   10,000 0 0
CLOROX CO DEL COM 189054109 255 2,650 SH   SOLE   2,650 0 0
COHEN & STEERS INFRASTRUCTUR COM 19248A109 463 20,000 SH   SOLE   20,000 0 0
CORESITE RLTY CORP COM 21870Q105 3,156 96,000 SH   SOLE   96,000 0 0
CRESTWOOD MIDSTREAM PARTNERS UNIT LTD PARTNER 226378107 994 43,860 SH   SOLE   43,860 0 0
CUBESMART COM 229663109 3,803 211,540 SH   SOLE   211,540 0 0
DCT INDUSTRIAL TRUST INC COM 233153105 490 65,200 SH   SOLE   65,200 0 0
DOUBLELINE INCOME SOLUTIONS COM 258622109 650 30,000 SH   SOLE   30,000 0 0
DOUGLAS EMMETT INC COM 25960P109 3,782 147,350 SH   SOLE   147,350 0 0
EATON VANCE MUN BD FD COM 27827X101 250 20,000 SH   SOLE   20,000 0 0
EATON VANCE TAX MNGD GBL DV COM 27829F108 502 50,000 SH   SOLE   50,000 0 0
EDUCATION RLTY TR INC COM 28140H104 3,712 361,080 SH   SOLE   361,080 0 0
EL PASO PIPELINE PARTNERS L COM UNIT LPI 283702108 1,142 28,440 SH   SOLE   28,440 0 0
ELLINGTON FINANCIAL LLC COM 288522303 2,264 101,900 SH   SOLE   101,900 0 0
ELLINGTON RESIDENTIAL MTG RE COM SHS BEN INT 288578107 852 52,600 SH   SOLE   52,600 0 0
EMERSON ELEC CO COM 291011104 208 3,320 SH   SOLE   3,320 0 0
ENDO INTL PLC SHS G30401106 269 3,940 SH   SOLE   3,940 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 1,423 22,240 SH   SOLE   22,240 0 0
ENLINK MIDSTREAM LLC COM UNIT REP LTD 29336T100 1,311 31,710 SH   SOLE   31,710 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 1,149 28,500 SH   SOLE   28,500 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 1,711 19,090 SH   SOLE   19,090 0 0
EQUINIX INC COM NEW 29444U502 3,038 14,300 SH   SOLE   14,300 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 3,765 88,890 SH   SOLE   88,890 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 3,833 62,230 SH   SOLE   62,230 0 0
ESSEX PPTY TR INC COM 297178105 1,018 5,695 SH   SOLE   5,695 0 0
EXTERRAN HLDGS INC COM 30225X103 2,924 66,000 SH   SOLE   66,000 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 3,842 32,430 SH   SOLE   32,430 0 0
FIRST TR ENERGY INFRASTRCTR COM 33738C103 286 12,000 SH   SOLE   12,000 0 0
FLAHERTY&CRMN PFD SEC INCOM COM 338478100 193 10,000 SH   SOLE   10,000 0 0
FLEETCOR TECHNOLOGIES INC COM 339041105 4,306 30,300 SH   SOLE   30,300 0 0
FORT DEARBORN INCOME SECS IN COM 347200107 256 17,698 SH   SOLE   17,698 0 0
FOSTER WHEELER AG COM H27178104 2,659 84,100 SH   SOLE   84,100 0 0
GENERAL DYNAMICS CORP COM 369550108 4,385 34,500 SH   SOLE   34,500 0 0
GENERAL MTRS CO COM 37045V100 2,514 78,700 SH   SOLE   78,700 0 0
GENPACT LIMITED SHS G3922B107 10,934 670,000 SH   SOLE   670,000 0 0
GLOBALSTAR INC COM 378973408 2,040 557,500 SH   SOLE   557,500 0 0
GOLDCORP INC NEW COM 380956409 3,830 166,300 SH   SOLE   166,300 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 2,751 121,800 SH   SOLE   121,800 0 0
GOOGLE INC CL A 38259P508 3,337 5,672 SH   OTR   0 0 5,672
GOOGLE INC CL C 38259P706 1,629 2,822 SH   OTR   0 0 2,822
GRUBHUB INC COM 400110102 4,041 118,029 SH   OTR   0 0 118,029
GUIDANCE SOFTWARE INC COM 401692108 2,718 403,900 SH   SOLE   403,900 0 0
GULFPORT ENERGY CORP COM NEW 402635304 3,103 58,100 SH   SOLE   58,100 0 0
HALLMARK FINL SVCS INC EC COM NEW 40624Q203 1,987 192,715 SH   SOLE   192,715 0 0
HATTERAS FINL CORP COM 41902R103 359 20,000 SH   SOLE   20,000 0 0
HEALTH CARE REIT INC COM 42217K106 3,904 62,590 SH   SOLE   62,590 0 0
HEALTHCARE TR AMER INC CL A 42225P105 3,703 319,220 SH   SOLE   319,220 0 0
HORMEL FOODS CORP COM 440452100 301 5,850 SH   SOLE   5,850 0 0
HORSEHEAD HLDG CORP COM 440694305 2,329 140,900 SH   SOLE   140,900 0 0
INTEL CORP COM 458140100 335 9,620 SH   SOLE   9,620 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 330 1,740 SH   SOLE   1,740 0 0
INTUIT COM 461202103 354 4,040 SH   SOLE   4,040 0 0
INVESCO ADVANTAGE MUNICIPAL SH BEN INT 46132E103 1,519 133,450 SH   SOLE   133,450 0 0
INVESCO CALIF VALUE MUN INC COM 46132H106 1,289 105,500 SH   SOLE   105,500 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 429 27,300 SH   SOLE   27,300 0 0
INVESCO MUN OPPORTUNITY TR COM 46132C107 1,815 144,830 SH   SOLE   144,830 0 0
INVESCO MUN TR COM 46131J103 2,037 162,270 SH   SOLE   162,270 0 0
INVESCO TR INVT GRADE MUNS COM 46131M106 1,703 129,950 SH   SOLE   129,950 0 0
ISHARES MSCI CDA ETF 464286509 764 24,890 SH   SOLE   24,890 0 0
ISHARES MSCI SINGAP ETF 464286673 261 19,540 SH   SOLE   19,540 0 0
ISHARES MSCI FRANCE ETF 464286707 599 22,570 SH   SOLE   22,570 0 0
ISHARES MSCI TURKEY ETF 464286715 245 5,000 SH   SOLE   5,000 0 0
ISHARES MSCI SZ CAP ETF 464286749 814 25,050 SH   SOLE   25,050 0 0
ISHARES MSCI SWEDEN ETF 464286756 367 11,090 SH   SOLE   11,090 0 0
ISHARES MSCI SPAN CP ETF 464286764 257 6,600 SH   SOLE   6,600 0 0
ISHARES MSCI GERMANY ETF 464286806 1,594 57,530 SH   SOLE   57,530 0 0
ISHARES MSCI NETHERL ETF 464286814 219 9,060 SH   SOLE   9,060 0 0
ISHARES MSCI MALAYSI ETF 464286830 183 11,870 SH   SOLE   11,870 0 0
ISHARES MSCI JAPAN ETF 464286848 242 20,600 SH   SOLE   20,600 0 0
ISHARES MSCI ITALCPD ETF 464286855 467 29,790 SH   SOLE   29,790 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 574 15,000 SH   SOLE   15,000 0 0
ISHARES TR IBOXX INV CP ETF 464287242 839 7,100 SH   SOLE   7,100 0 0
ISHARES TR 7-10 Y TR BD ETF 464287440 674 6,500 SH   SOLE   6,500 0 0
ISHARES TR MSCI PHILIPS ETF 46429B408 381 10,000 SH   SOLE   10,000 0 0
ISHARES TR MSCI UTD KNGDM 46434V548 2,619 135,120 SH   SOLE   135,120 0 0
KIMCO RLTY CORP COM 49446R109 3,753 171,300 SH   SOLE   171,300 0 0
KINDER MORGAN ENERGY PARTNER UT LTD PARTNER 494550106 1,136 12,180 SH   SOLE   12,180 0 0
KINDER MORGAN INC DEL COM 49456B101 1,050 27,400 SH   SOLE   27,400 0 0
KOFAX LTD COM USD G5307C105 4,009 518,000 SH   SOLE   518,000 0 0
LPL FINL HLDGS INC COM 50212V100 2,745 59,600 SH   SOLE   59,600 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 1,167 13,868 SH   SOLE   13,868 0 0
MASONITE INTL CORP NEW COM 575385109 2,481 44,800 SH   SOLE   44,800 0 0
MCG CAPITAL CORP COM 58047P107 1,137 322,900 SH   SOLE   322,900 0 0
MFA FINL INC COM 55272X102 3,625 466,000 SH   SOLE   466,000 0 0
MFS CHARTER INCOME TR SH BEN INT 552727109 177 20,000 SH   SOLE   20,000 0 0
MFS INVT GRADE MUN TR SH BEN INT 59318B108 110 12,000 SH   SOLE   12,000 0 0
MICROSOFT CORP COM 594918104 3,180 68,600 SH   SOLE   68,600 0 0
MORGAN STANLEY EM MKTS DM DE COM 617477104 709 60,000 SH   SOLE   60,000 0 0
MORGAN STANLEY EMER MKTS DEB COM 61744H105 97 10,000 SH   SOLE   10,000 0 0
MOVE INC COM NEW 62458M207 2,092 99,815 SH   OTR   0 0 99,815
MPLX LP COM UNIT REP LTD 55336V100 1,027 17,410 SH   SOLE   17,410 0 0
NATIONAL GEN HLDGS CORP COM 636220303 2,132 126,200 SH   SOLE   126,200 0 0
NCR CORP NEW COM 62886E108 3,952 118,300 SH   SOLE   118,300 0 0
NEWMONT MINING CORP COM 651639106 3,596 156,000 SH   SOLE   156,000 0 0
NEWS CORP NEW CL A 65249B109 6,224 380,700 SH   SOLE   380,700 0 0
NUVEEN AMT-FREE MUN INCOME F COM 670657105 1,795 132,690 SH   SOLE   132,690 0 0
NUVEEN CAL AMT-FREE MUN INC COM 670651108 473 34,000 SH   SOLE   34,000 0 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 89 10,000 SH   SOLE   10,000 0 0
NUVEEN DIV ADVANTAGE MUN FD COM 67070F100 2,595 186,300 SH   SOLE   186,300 0 0
NUVEEN DIVID ADV MUN FD 3 COM SH BEN INT 67070X101 2,937 214,900 SH   SOLE   214,900 0 0
NUVEEN DIVID ADVANTAGE MUN F COM 67066V101 1,069 77,240 SH   SOLE   77,240 0 0
NUVEEN DIVID ADVANTAGE MUN I COM 67071L106 899 63,700 SH   SOLE   63,700 0 0
NUVEEN ENERGY MLP TOTL RTRNF COM 67074U103 265 12,000 SH   SOLE   12,000 0 0
NUVEEN INVT QUALITY MUN FD I COM 67062E103 486 32,700 SH   SOLE   32,700 0 0
NUVEEN MD PREM INCOME MUN FD COM 67061Q107 727 58,100 SH   SOLE   58,100 0 0
NUVEEN MTG OPPTY TERM FD 2 COM 67074R100 815 35,000 SH   SOLE   35,000 0 0
NUVEEN MUN ADVANTAGE FD INC COM 67062H106 2,436 180,580 SH   SOLE   180,580 0 0
NUVEEN MUN MKT OPPORTUNITY F COM 67062W103 2,808 211,800 SH   SOLE   211,800 0 0
NUVEEN PERFORMANCE PLUS MUN COM 67062P108 392 27,000 SH   SOLE   27,000 0 0
NUVEEN PFD INCOME OPPRTNY FD COM 67073B106 697 75,800 SH   SOLE   75,800 0 0
NUVEEN PREM INCOME MUN FD COM 67062T100 2,168 161,700 SH   SOLE   161,700 0 0
NUVEEN PREM INCOME MUN FD 2 COM 67063W102 2,660 193,430 SH   SOLE   193,430 0 0
NUVEEN PREMIER MUN INCOME FD COM 670988104 472 35,100 SH   SOLE   35,100 0 0
NUVEEN QUALITY INCOME MUN FD COM 670977107 1,642 119,950 SH   SOLE   119,950 0 0
NUVEEN QUALITY MUN FD INC COM 67062N103 1,812 140,100 SH   SOLE   140,100 0 0
NUVEEN QUALITY PFD INC FD 3 COM 67072W101 502 60,000 SH   SOLE   60,000 0 0
NUVEEN QUALITY PFD INCOME FD COM 67072C105 1,742 200,000 SH   SOLE   200,000 0 0
NUVEEN SELECT QUALITY MUN FD COM 670973106 3,035 222,020 SH   SOLE   222,020 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 16,965 332,000 SH   SOLE   332,000 0 0
ONEOK INC NEW COM 682680103 1,010 15,400 SH   SOLE   15,400 0 0
ORACLE CORP COM 68389X105 297 7,750 SH   SOLE   7,750 0 0
PENNYMAC MTG INVT TR COM 70931T103 3,129 146,000 SH   SOLE   146,000 0 0
PERRIGO CO PLC SHS G97822103 230 1,530 SH   SOLE   1,530 0 0
PHILIP MORRIS INTL INC COM 718172109 269 3,220 SH   SOLE   3,220 0 0
PIMCO DYNAMIC CR INCOME FD COM SHS 72202D106 674 30,000 SH   SOLE   30,000 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 1,174 19,950 SH   SOLE   19,950 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 761 24,810 SH   SOLE   24,810 0 0
POST HLDGS INC COM 737446104 3,653 110,100 SH   SOLE   110,100 0 0
POST PPTYS INC COM 737464107 4,135 80,554 SH   SOLE   80,554 0 0
POWERSHARES ETF TR II BUILD AMER ETF 73937B407 744 25,100 SH   SOLE   25,100 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,976 20,000 SH   SOLE   20,000 0 0
PROLOGIS INC COM 74340W103 3,566 94,580 SH   SOLE   94,580 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 2,962 38,900 SH   SOLE   38,900 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 566 80,000 SH   SOLE   80,000 0 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 1,898 162,270 SH   SOLE   162,270 0 0
PUTNAM PREMIER INCOME TR SH BEN INT 746853100 658 120,000 SH   SOLE   120,000 0 0
QUALCOMM INC COM 747525103 222 2,970 SH   SOLE   2,970 0 0
REGENCY CTRS CORP COM 758849103 561 10,420 SH   SOLE   10,420 0 0
REGENCY ENERGY PARTNERS L P COM UNITS L P 75885Y107 1,054 32,310 SH   SOLE   32,310 0 0
RESOLUTE FST PRODS INC COM 76117W109 3,133 200,300 SH   SOLE   200,300 0 0
RETAIL PPTYS AMER INC CL A 76131V202 3,683 251,760 SH   SOLE   251,760 0 0
RICE ENERGY INC COM 762760106 3,285 123,500 SH   SOLE   123,500 0 0
ROCKWELL COLLINS INC COM 774341101 265 3,370 SH   SOLE   3,370 0 0
SCHWAB CHARLES CORP NEW COM 808513105 2,639 89,800 SH   SOLE   89,800 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 308 3,940 SH   SOLE   3,940 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 560 8,400 SH   SOLE   8,400 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 2,483 27,400 SH   SOLE   27,400 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 880 38,000 SH   SOLE   38,000 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,355 25,500 SH   SOLE   25,500 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,596 40,000 SH   SOLE   40,000 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 3,047 72,400 SH   SOLE   72,400 0 0
SEMGROUP CORP CL A 81663A105 1,998 24,000 SH   SOLE   24,000 0 0
SHUTTERFLY INC COM 82568P304 4,674 95,900 SH   SOLE   95,900 0 0
SIGMA ALDRICH CORP COM 826552101 360 2,650 SH   SOLE   2,650 0 0
SIMON PPTY GROUP INC NEW COM 828806109 3,920 23,840 SH   SOLE   23,840 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 3,920 114,000 SH   SOLE   114,000 0 0
SOLAR CAP LTD COM 83413U100 508 27,200 SH   SOLE   27,200 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,859 16,000 SH   SOLE   16,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 21,574 109,500 SH   SOLE   109,500 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 461 6,700 SH   SOLE   6,700 0 0
SPDR SERIES TRUST S&P METALS MNG 78464A755 800 21,751 SH   SOLE   21,751 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 3,761 342,800 SH   SOLE   342,800 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 3,900 334,780 SH   SOLE   334,780 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 1,667 34,526 SH   SOLE   34,526 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 3,627 262,400 SH   SOLE   262,400 0 0
SUPPORT COM INC COM 86858W101 1,146 530,600 SH   SOLE   530,600 0 0
TARGA RES CORP COM 87612G101 704 5,170 SH   SOLE   5,170 0 0
TAUBMAN CTRS INC COM 876664103 3,738 51,200 SH   SOLE   51,200 0 0
TEEKAY CORPORATION COM Y8564W103 4,745 71,500 SH   SOLE   71,500 0 0
TEEKAY OFFSHORE PARTNERS L P PARTNERSHIP UN Y8565J101 1,002 29,810 SH   SOLE   29,810 0 0
TEMPLETON GLOBAL INCOME FD COM 880198106 477 60,000 SH   SOLE   60,000 0 0
TEMPUR SEALY INTL INC COM 88023U101 3,763 67,000 SH   SOLE   67,000 0 0
TESORO LOGISTICS LP COM UNIT LP 88160T107 1,260 17,800 SH   SOLE   17,800 0 0
TEXAS INSTRS INC COM 882508104 270 5,670 SH   SOLE   5,670 0 0
TIBCO SOFTWARE INC COM 88632Q103 3,847 162,800 SH   SOLE   162,800 0 0
TORTOISE ENERGY INFRSTRCTR C COM 89147L100 481 10,000 SH   SOLE   10,000 0 0
TRANSDIGM GROUP INC COM 893641100 4,147 22,500 SH   SOLE   22,500 0 0
TRULIA INC COM 897888103 17,278 353,340 SH   OTR   0 0 353,340
TRULIA INC COM 897888103 6,837 139,800 SH   SOLE   139,800 0 0
TWENTY FIRST CENTY FOX INC CL B 90130A200 3,597 108,000 SH   SOLE   108,000 0 0
TWO HBRS INVT CORP COM 90187B101 4,898 506,500 SH   SOLE   506,500 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 8,041 98,150 SH   SOLE   98,150 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 5,589 134,000 SH   SOLE   134,000 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 7,950 200,000 SH   SOLE   200,000 0 0
VIOLIN MEMORY INC COM 92763A101 11,286 2,317,500 SH   SOLE   2,317,500 0 0
VISA INC COM CL A 92826C839 241 1,130 SH   SOLE   1,130 0 0
VITESSE SEMICONDUCTOR CORP COM NEW 928497304 3,011 836,512 SH   SOLE   836,512 0 0
VORNADO RLTY TR SH BEN INT 929042109 3,697 36,980 SH   SOLE   36,980 0 0
WELLS FARGO & CO NEW COM 949746101 4,015 77,400 SH   SOLE   77,400 0 0
WESCO AIRCRAFT HLDGS INC COM 950814103 3,224 185,300 SH   SOLE   185,300 0 0
WESTERN ASSET EMRG MKT DEBT COM 95766A101 171 10,000 SH   SOLE   10,000 0 0
WESTERN ASSET GLB HI INCOME COM 95766B109 201 16,500 SH   SOLE   16,500 0 0
WESTERN ASSET MUN HI INCM FD COM 95766N103 130 17,900 SH   SOLE   17,900 0 0
WESTERN GAS EQUITY PARTNERS COMUNT LTD PT 95825R103 970 15,930 SH   SOLE   15,930 0 0
WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 1,261 16,805 SH   SOLE   16,805 0 0
WILLIAMS COS INC DEL COM 969457100 1,225 22,130 SH   SOLE   22,130 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 5,441 104,000 SH   SOLE   104,000 0 0
WISDOMTREE TR EUROPE SMCP DV 97717W869 943 18,000 SH   SOLE   18,000 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 2,860 49,500 SH   SOLE   49,500 0 0
WORLD WRESTLING ENTMT INC CL A 98156Q108 761 55,300 SH   SOLE   55,300 0 0
YADKIN FINL CORP COM 984305102 13,138 723,458 SH   SOLE   723,458 0 0
YANDEX N V SHS CLASS A N97284108 2,112 76,000 SH   SOLE   76,000 0 0
YELP INC CL A 985817105 4,061 59,503 SH   OTR   0 0 59,503
ZAIS FINL CORP COM 98886K108 903 52,300 SH   SOLE   52,300 0 0
ZHAOPIN LTD SPONSORED ADR 98954L103 135 10,446 SH   OTR   0 0 10,446
ZILLOW INC CL A 98954A107 26,692 230,124 SH   OTR   0 0 230,124
ZILLOW INC CL A 98954A107 18,915 163,070 SH   SOLE   163,070 0 0
ZYNGA INC CL A 98986T108 2,850 1,055,400 SH   SOLE   1,055,400 0 0