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
ALEXANDERS INC COM 14752109 1,989 4,549 SH   SOLE   4,549 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 15271109 11,747 132,373 SH   SOLE   132,373 0 0
AMERICAN ASSETS TR INC COM 24013104 2,209 55,491 SH   SOLE   55,491 0 0
AMERICAN CAMPUS CMNTYS INC COM 24835100 9,622 232,629 SH   SOLE   232,629 0 0
ASHFORD HOSPITALITY PRIME IN COM 44102101 703 40,976 SH   SOLE   40,976 0 0
ASHFORD HOSPITALITY TR INC COM SHS 44103109 2,393 228,348 SH   SOLE   228,348 0 0
ASSOCIATED ESTATES RLTY CORP COM 45604105 3,051 131,435 SH   SOLE   131,435 0 0
AVALONBAY CMNTYS INC COM 53484101 46,648 285,499 SH   SOLE   285,499 0 0
BB&T CORP COM 54937107 2,298 59,100 SH   DFND 1 59,100 0 0
BB&T CORP COM 54937107 2,298 59,100 SH   SOLE   59,100 0 0
BOSTON PROPERTIES INC COM 101121101 40,487 314,607 SH   SOLE   314,607 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 6,362 398,099 SH   SOLE   398,099 0 0
CBL & ASSOC PPTYS INC COM 124830100 6,512 335,345 SH   SOLE   335,345 0 0
CAMDEN PPTY TR SH BEN INT 133131102 13,928 188,626 SH   SOLE   188,626 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 1,303 177,495 SH   SOLE   177,495 0 0
CHAMBERS STR PPTYS COM 157842105 3,364 417,369 SH   SOLE   417,369 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 4,528 121,692 SH   SOLE   121,692 0 0
CHEVRON CORP NEW COM 166764100 9,524 84,900 SH   DFND 1 84,900 0 0
CHEVRON CORP NEW COM 166764100 9,524 84,900 SH   SOLE   84,900 0 0
COLUMBIA PPTY TR INC COM NEW 198287203 7,040 277,710 SH   SOLE   277,710 0 0
CONSOLIDATED EDISON INC COM 209115104 4,238 64,200 SH   DFND 1 64,200 0 0
CONSOLIDATED EDISON INC COM 209115104 4,238 64,200 SH   SOLE   64,200 0 0
COUSINS PPTYS INC COM 222795106 6,733 589,552 SH   SOLE   589,552 0 0
CUBESMART COM 229663109 9,051 410,111 SH   SOLE   410,111 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 6,591 184,830 SH   SOLE   184,830 0 0
DARDEN RESTAURANTS INC COM 237194105 3,483 59,400 SH   DFND 1 59,400 0 0
DARDEN RESTAURANTS INC COM 237194105 3,483 59,400 SH   SOLE   59,400 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 6,553 440,687 SH   SOLE   440,687 0 0
DIGITAL RLTY TR INC COM 253868103 19,969 301,192 SH   SOLE   301,192 0 0
DOW CHEM CO COM 260543103 4,401 96,500 SH   DFND 1 96,500 0 0
DOW CHEM CO COM 260543103 4,401 96,500 SH   SOLE   96,500 0 0
DUKE REALTY CORP COM NEW 264411505 15,274 756,115 SH   SOLE   756,115 0 0
EASTGROUP PPTY INC COM 277276101 2,914 46,023 SH   SOLE   46,023 0 0
EMPIRE ST RLTY TR INC CL A 292104106 3,924 223,187 SH   SOLE   223,187 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 7,334 285,705 SH   SOLE   285,705 0 0
EQUITY ONE COM 294752100 4,825 190,245 SH   SOLE   190,245 0 0
ESSEX PPTY TR INC COM 297178105 28,115 136,082 SH   SOLE   136,082 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 18,970 142,140 SH   SOLE   142,140 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 4,030 260,000 SH   DFND 1 260,000 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 4,030 260,000 SH   SOLE   260,000 0 0
GENERAL ELECTRIC CO COM 369604103 6,805 269,300 SH   DFND 1 269,300 0 0
GENERAL ELECTRIC CO COM 369604103 6,805 269,300 SH   SOLE   269,300 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 31,408 1,116,547 SH   SOLE   1,116,547 0 0
GENERAL MLS INC COM 370334104 4,922 92,300 SH   DFND 1 92,300 0 0
GENERAL MLS INC COM 370334104 4,922 92,300 SH   SOLE   92,300 0 0
GETTY RLTY CORP NEW COM 374297109 1,103 60,598 SH   SOLE   60,598 0 0
GLADSTONE COML CORP COM 376536108 584 34,020 SH   SOLE   34,020 0 0
GLIMCHER RLTY TR SH BEN INT 379302102 4,489 326,692 SH   SOLE   326,692 0 0
HASBRO INC COM 418056107 3,266 59,400 SH   DFND 1 59,400 0 0
HASBRO INC COM 418056107 3,266 59,400 SH   SOLE   59,400 0 0
HEALTHCARE RLTY TR COM 421946104 5,789 211,892 SH   SOLE   211,892 0 0
HERSHA HOSPITALITY TR SH BEN INT A 427825104 2,717 386,553 SH   SOLE   386,553 0 0
HIGHWOODS PPTYS INC COM 431284108 9,730 219,746 SH   SOLE   219,746 0 0
HOLLYFRONTIER CORP COM 436106108 2,436 65,000 SH   DFND 1 65,000 0 0
HOLLYFRONTIER CORP COM 436106108 2,436 65,000 SH   SOLE   65,000 0 0
HOME PROPERTIES INC COM 437306103 7,049 107,460 SH   SOLE   107,460 0 0
HUDSON PAC PPTYS INC COM 444097109 3,717 123,652 SH   SOLE   123,652 0 0
INLAND REAL ESTATE CORP COM NEW 457461200 2,091 190,919 SH   SOLE   190,919 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730103 1,970 241,151 SH   SOLE   241,151 0 0
IRON MTN INC COM 462846106 11,539 298,480 SH   SOLE   298,480 0 0
ISHARES TR U.S. REAL ES ETF 464287739 115,260 1,500,000 SH   SOLE   1,500,000 0 0
JOHNSON & JOHNSON COM 478160104 11,032 105,500 SH   DFND 1 105,500 0 0
JOHNSON & JOHNSON COM 478160104 11,032 105,500 SH   SOLE   105,500 0 0
KLA-TENCOR CORP COM 482480100 1,899 27,000 SH   DFND 1 27,000 0 0
KLA-TENCOR CORP COM 482480100 1,899 27,000 SH   SOLE   27,000 0 0
L BRANDS INC COM 501797104 3,401 39,300 SH   DFND 1 39,300 0 0
L BRANDS INC COM 501797104 3,401 39,300 SH   SOLE   39,300 0 0
LTC PPTYS INC COM 502175102 2,510 58,133 SH   SOLE   58,133 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 10,514 259,799 SH   SOLE   259,799 0 0
LEGGETT & PLATT INC COM 524660107 2,778 65,200 SH   DFND 1 65,200 0 0
LEGGETT & PLATT INC COM 524660107 2,778 65,200 SH   SOLE   65,200 0 0
LEXINGTON REALTY TRUST COM 529043101 5,579 508,105 SH   SOLE   508,105 0 0
LIBERTY PPTY TR SH BEN INT 531172104 12,366 328,620 SH   SOLE   328,620 0 0
MACERICH CO COM 554382101 28,065 336,472 SH   SOLE   336,472 0 0
MACK CALI RLTY CORP COM 554489104 2,709 142,118 SH   SOLE   142,118 0 0
MATTEL INC COM 577081102 2,011 65,000 SH   DFND 1 65,000 0 0
MATTEL INC COM 577081102 2,011 65,000 SH   SOLE   65,000 0 0
MCDONALDS CORP COM 580135101 3,889 41,500 SH   DFND 1 41,500 0 0
MCDONALDS CORP COM 580135101 3,889 41,500 SH   SOLE   41,500 0 0
MICROSOFT CORP COM 594918104 8,180 176,100 SH   DFND 1 176,100 0 0
MICROSOFT CORP COM 594918104 8,180 176,100 SH   SOLE   176,100 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 1,313 118,597 SH   SOLE   118,597 0 0
NATIONAL RETAIL PPTYS INC COM 637417106 12,026 305,461 SH   SOLE   305,461 0 0
NEW SR INVT GROUP INC COM 648691103 3,902 237,208 SH   SOLE   237,208 0 0
NORFOLK SOUTHERN CORP COM 655844108 3,836 35,000 SH   DFND 1 35,000 0 0
NORFOLK SOUTHERN CORP COM 655844108 3,836 35,000 SH   SOLE   35,000 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 10,982 281,073 SH   SOLE   281,073 0 0
ONE LIBERTY PPTYS INC COM 682406103 677 28,607 SH   SOLE   28,607 0 0
PACCAR INC COM 693718108 3,720 54,700 SH   DFND 1 54,700 0 0
PACCAR INC COM 693718108 3,720 54,700 SH   SOLE   54,700 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 3,450 147,065 SH   SOLE   147,065 0 0
PEPSICO INC COM 713448108 6,430 68,000 SH   DFND 1 68,000 0 0
PEPSICO INC COM 713448108 6,430 68,000 SH   SOLE   68,000 0 0
PFIZER INC COM 717081103 9,049 290,500 SH   DFND 1 290,500 0 0
PFIZER INC COM 717081103 9,049 290,500 SH   SOLE   290,500 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 5,109 271,204 SH   SOLE   271,204 0 0
PLUM CREEK TIMBER CO INC COM 729251108 16,856 393,917 SH   SOLE   393,917 0 0
POST PPTYS INC COM 737464107 7,041 119,803 SH   SOLE   119,803 0 0
POTLATCH CORP NEW COM 737630103 3,520 84,078 SH   SOLE   84,078 0 0
PROCTER & GAMBLE CO COM 742718109 7,606 83,500 SH   DFND 1 83,500 0 0
PROCTER & GAMBLE CO COM 742718109 7,606 83,500 SH   SOLE   83,500 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 3,149 168,010 SH   SOLE   168,010 0 0
RAYONIER INC COM 754907103 9,661 345,772 SH   SOLE   345,772 0 0
REALTY INCOME CORP COM 756109104 24,706 517,842 SH   SOLE   517,842 0 0
REGENCY CTRS CORP COM 758849103 12,941 202,908 SH   SOLE   202,908 0 0
ROUSE PPTYS INC COM 779287101 1,543 83,313 SH   SOLE   83,313 0 0
SAUL CTRS INC COM 804395101 1,657 28,976 SH   SOLE   28,976 0 0
SIMON PPTY GROUP INC NEW COM 828806109 122,855 674,617 SH   SOLE   674,617 0 0
SUMMIT HOTEL PPTYS COM 866082100 2,321 186,578 SH   SOLE   186,578 0 0
SUN CMNTYS INC COM 866674104 6,069 100,386 SH   SOLE   100,386 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 8,444 511,462 SH   SOLE   511,462 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 7,846 212,284 SH   SOLE   212,284 0 0
TAUBMAN CTRS INC COM 876664103 9,196 120,329 SH   SOLE   120,329 0 0
UDR INC COM 902653104 17,156 556,651 SH   SOLE   556,651 0 0
US BANCORP DEL COM NEW 902973304 2,967 66,000 SH   DFND 1 66,000 0 0
US BANCORP DEL COM NEW 902973304 2,967 66,000 SH   SOLE   66,000 0 0
U M H PROPERTIES INC COM 903002103 428 44,774 SH   SOLE   44,774 0 0
URSTADT BIDDLE PPTYS INC CL A 917286205 1,126 51,473 SH   SOLE   51,473 0 0
VORNADO RLTY TR SH BEN INT 929042109 41,368 351,441 SH   SOLE   351,441 0 0
WASHINGTON PRIME GROUP INC COM 939647103 6,025 349,878 SH   SOLE   349,878 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 2,678 96,831 SH   SOLE   96,831 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 6,636 190,047 SH   SOLE   190,047 0 0
WELLS FARGO & CO NEW COM 949746101 6,578 120,000 SH   DFND 1 120,000 0 0
WELLS FARGO & CO NEW COM 949746101 6,578 120,000 SH   SOLE   120,000 0 0
WEYERHAEUSER CO COM 962166104 40,182 1,119,582 SH   SOLE   1,119,582 0 0
WHITESTONE REIT COM 966084204 769 50,900 SH   SOLE   50,900 0 0
WILLIAMS COS INC DEL COM 969457100 3,011 67,000 SH   DFND 1 67,000 0 0
WILLIAMS COS INC DEL COM 969457100 3,011 67,000 SH   SOLE   67,000 0 0
WINTHROP RLTY TR SH BEN INT NEW 976391300 1,176 75,457 SH   SOLE   75,457 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 25,130 399,143 SH   SOLE   399,143 0 0
ALTRIA GROUP INC COM 02209S103 3,966 80,500 SH   DFND 1 80,500 0 0
ALTRIA GROUP INC COM 02209S103 3,966 80,500 SH   SOLE   80,500 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 25,406 473,724 SH   SOLE   473,724 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 5,638 331,090 SH   SOLE   331,090 0 0
AMERICAN RESIDENTIAL PPTYS I COM 02927E303 708 40,280 SH   SOLE   40,280 0 0
AMERICAN TOWER CORP NEW COM 03027X100 84,194 851,739 SH   SOLE   851,739 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 12,059 324,603 SH   SOLE   324,603 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 436 45,930 SH   SOLE   45,930 0 0
ACADIA RLTY TR COM SH BEN INT 04239109 4,118 128,562 SH   SOLE   128,562 0 0
AVIV REIT INC MD COM 05381L101 2,827 82,002 SH   SOLE   82,002 0 0
BCE INC PUT 05534B950 4,333 94,200 SH   DFND 1 94,200 0 0
BCE INC PUT 05534B950 4,333 94,200 SH   SOLE   94,200 0 0
AGREE REALTY CORP COM 08492100 985 31,670 SH   SOLE   31,670 0 0
BIOMED REALTY TRUST INC COM 09063H107 9,200 427,097 SH   SOLE   427,097 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 5,919 238,279 SH   SOLE   238,279 0 0
CIT GROUP INC COM NEW 125581801 2,595 54,250 SH   SOLE   54,250 0 0
CA INC COM 12673P105 3,045 100,000 SH   DFND 1 100,000 0 0
CA INC COM 12673P105 3,045 100,000 SH   SOLE   100,000 0 0
CALPINE CORP COM NEW 131347304 49,310 2,228,216 SH   SOLE   2,228,216 0 0
CAMPUS CREST CMNTYS INC COM 13466Y105 1,892 258,814 SH   SOLE   258,814 0 0
CATCHMARK TIMBER TR INC CL A 14912Y202 784 69,250 SH   SOLE   69,250 0 0
CENTERPOINT ENERGY INC COM 15189T107 2,786 118,900 SH   DFND 1 118,900 0 0
CENTERPOINT ENERGY INC COM 15189T107 2,786 118,900 SH   SOLE   118,900 0 0
CHATHAM LODGING TR COM 16208T102 2,118 73,127 SH   SOLE   73,127 0 0
CONOCOPHILLIPS COM 20825C104 3,936 57,000 SH   DFND 1 57,000 0 0
CONOCOPHILLIPS COM 20825C104 3,936 57,000 SH   SOLE   57,000 0 0
CORESITE RLTY CORP COM 21870Q105 1,903 48,733 SH   SOLE   48,733 0 0
CORENERGY INFRASTRUCTURE TR COM 21870U205 458 70,620 SH   SOLE   70,620 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 4,269 150,486 SH   SOLE   150,486 0 0
CORRECTIONS CORP AMER NEW COM NEW 22025Y407 9,012 247,990 SH   SOLE   247,990 0 0
CRESCENT PT ENERGY CORP COM 22576C101 163,934 7,077,609 SH   SOLE   7,077,609 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 57,319 728,325 SH   SOLE   728,325 0 0
DDR CORP COM 23317H102 14,810 806,645 SH   SOLE   806,645 0 0
DOMINION RES INC VA NEW COM 25746U109 5,314 69,100 SH   DFND 1 69,100 0 0
DOMINION RES INC VA NEW COM 25746U109 5,314 69,100 SH   SOLE   69,100 0 0
DOUGLAS EMMETT INC COM 25960P109 8,384 295,214 SH   SOLE   295,214 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 8,371 100,200 SH   DFND 1 100,200 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 8,371 100,200 SH   SOLE   100,200 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 3,709 111,572 SH   SOLE   111,572 0 0
EPR PPTYS COM SH BEN INT 26884U109 4,177 72,480 SH   SOLE   72,480 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 2,896 79,160 SH   SOLE   79,160 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 7,606 147,548 SH   SOLE   147,548 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 54,957 764,996 SH   SOLE   764,996 0 0
EVERBANK FINL CORP COM 29977G102 5,849 306,896 SH   SOLE   306,896 0 0
EXCEL TR INC COM 30068C109 1,758 131,275 SH   SOLE   131,275 0 0
EXTRA SPACE STORAGE INC COM 30225T102 14,196 242,082 SH   SOLE   242,082 0 0
EXXON MOBIL CORP COM 30231G102 9,217 99,700 SH   DFND 1 99,700 0 0
EXXON MOBIL CORP COM 30231G102 9,217 99,700 SH   SOLE   99,700 0 0
FEDERAL MOGUL HOLDINGS CORP COM 313549404 34,079 2,118,016 SH   SOLE   2,118,016 0 0
FELCOR LODGING TR INC COM 31430F101 3,080 284,615 SH   SOLE   284,615 0 0
58 COM INC SPON ADR REP A 31680Q104 312 7,500 SH   SOLE   7,500 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 6,075 295,495 SH   SOLE   295,495 0 0
FIRST POTOMAC RLTY TR COM 33610F109 1,647 133,251 SH   SOLE   133,251 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 2,431 198,119 SH   SOLE   198,119 0 0
GEO GROUP INC NEW COM 36162J106 6,309 156,310 SH   SOLE   156,310 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 7,072 241,051 SH   SOLE   241,051 0 0
GENERAL MTRS CO COM 37045V100 548 15,703 SH   SOLE   15,703 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V118 358 14,271 SH   SOLE   14,271 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 243 14,271 SH   SOLE   14,271 0 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 4,603 200,061 SH   SOLE   200,061 0 0
GRACE W R & CO DEL NEW COM 38388F108 20,133 211,063 SH   SOLE   211,063 0 0
GRAMERCY PPTY TR INC COM 38489R100 2,781 403,115 SH   SOLE   403,115 0 0
HCP INC COM 40414L109 41,884 951,260 SH   SOLE   951,260 0 0
HEALTH CARE REIT INC COM 42217K106 55,573 734,406 SH   SOLE   734,406 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 7,110 263,910 SH   SOLE   263,910 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 10,318 332,850 SH   SOLE   332,850 0 0
HOST HOTELS & RESORTS INC COM 44107P104 39,023 1,641,705 SH   SOLE   1,641,705 0 0
KILROY RLTY CORP COM 49427F108 12,640 183,003 SH   SOLE   183,003 0 0
KIMCO RLTY CORP COM 49446R109 22,904 911,057 SH   SOLE   911,057 0 0
KINDER MORGAN INC DEL COM 49456B101 2,759 65,200 SH   DFND 1 65,200 0 0
KINDER MORGAN INC DEL COM 49456B101 2,759 65,200 SH   SOLE   65,200 0 0
KITE RLTY GROUP TR COM NEW 49803T300 7,311 254,398 SH   SOLE   254,398 0 0
KRAFT FOODS GROUP INC COM 50076Q106 4,793 76,500 SH   DFND 1 76,500 0 0
KRAFT FOODS GROUP INC COM 50076Q106 4,793 76,500 SH   SOLE   76,500 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 20,697 419,142 SH   SOLE   419,142 0 0
MARKEL CORP COM 570535104 22,256 32,594 SH   SOLE   32,594 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 5,311 385,417 SH   SOLE   385,417 0 0
MERCK & CO INC NEW COM 58933Y105 3,549 62,500 SH   DFND 1 62,500 0 0
MERCK & CO INC NEW COM 58933Y105 3,549 62,500 SH   SOLE   62,500 0 0
METLIFE INC COM 59156R108 4,652 86,000 SH   DFND 1 86,000 0 0
METLIFE INC COM 59156R108 4,652 86,000 SH   SOLE   86,000 0 0
MID-AMER APT CMNTYS INC COM 59522J103 13,230 177,150 SH   SOLE   177,150 0 0
NATIONAL HEALTH INVS INC COM 63633D104 4,589 65,594 SH   SOLE   65,594 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 10,021 570,000 SH   SOLE   570,000 0 0
PPL CORP COM 69351T106 4,178 115,000 SH   DFND 1 115,000 0 0
PPL CORP COM 69351T106 4,178 115,000 SH   SOLE   115,000 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 3,503 44,040 SH   SOLE   44,040 0 0
PARKWAY PPTYS INC COM 70159Q104 4,723 256,813 SH   SOLE   256,813 0 0
PEABODY ENERGY CORP SDCV 4.750%12/1 704549AG9 4,200 8,000,000 PRN   SOLE   8,000,000 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 8,177 179,213 SH   SOLE   179,213 0 0
PHYSICIANS RLTY TR COM 71943U104 2,795 168,375 SH   SOLE   168,375 0 0
PROLOGIS INC COM 74340W103 48,615 1,129,782 SH   SOLE   1,129,782 0 0
PUBLIC STORAGE COM 74460D109 56,353 304,858 SH   SOLE   304,858 0 0
QTS RLTY TR INC COM CL A 74736A103 366 10,813 SH   SOLE   10,813 0 0
RLJ LODGING TR COM 74965L101 7,377 220,006 SH   SOLE   220,006 0 0
RSP PERMIAN INC COM 74978Q105 271,930 10,816,626 SH   SOLE   10,816,626 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 3,311 197,186 SH   SOLE   197,186 0 0
RETAIL PPTYS AMER INC CL A 76131V202 8,694 520,915 SH   SOLE   520,915 0 0
REXFORD INDL RLTY INC COM 76169C100 1,422 90,510 SH   SOLE   90,510 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 5,715 108,370 SH   SOLE   108,370 0 0
SL GREEN RLTY CORP COM 78440X101 22,552 189,478 SH   SOLE   189,478 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 3,609 118,843 SH   SOLE   118,843 0 0
SCYNEXIS INC COM 811292101 759 76,036 SH   SOLE   76,036 0 0
SELECT INCOME REIT COM SH BEN INT 81618T100 2,038 83,490 SH   SOLE   83,490 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 11,047 499,658 SH   SOLE   499,658 0 0
SHUTTERSTOCK INC COM 825690100 1,507 21,807 SH   SOLE   21,807 0 0
SIENTRA INC COM 82621J105 10,590 630,748 SH   SOLE   630,748 0 0
SILVER BAY RLTY TR CORP COM 82735Q102 1,359 82,090 SH   SOLE   82,090 0 0
SOVRAN SELF STORAGE INC COM 84610H108 4,672 53,568 SH   SOLE   53,568 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 12,848 1,080,553 SH   SOLE   1,080,553 0 0
STAG INDL INC COM 85254J102 4,917 200,698 SH   SOLE   200,698 0 0
STARWOOD PPTY TR INC COM 85571B105 1,952 84,000 SH   DFND 1 84,000 0 0
STARWOOD PPTY TR INC COM 85571B105 1,952 84,000 SH   SOLE   84,000 0 0
STARWOOD WAYPOINT RESIDENTL COM SHS 85571W109 2,356 89,340 SH   SOLE   89,340 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 8,485 641,315 SH   SOLE   641,315 0 0
TERRENO RLTY CORP COM 88146M101 1,456 70,574 SH   SOLE   70,574 0 0
TIME WARNER CABLE INC COM 88732J207 31,163 204,939 SH   SOLE   204,939 0 0
TIME WARNER CABLE INC COM 88732J207 3,802 25,000 SH   DFND 1 25,000 0 0
TIME WARNER CABLE INC COM 88732J207 3,802 25,000 SH   SOLE   25,000 0 0
TRANSDIGM GROUP INC COM 893641100 1,029 5,241 SH   SOLE   5,241 0 0
TRIANGLE PETE CORP COM NEW 89600B201 54,253 11,350,000 SH   SOLE   11,350,000 0 0
TRIBUNE MEDIA CO CL A 896047503 11,918 199,400 SH   SOLE   199,400 0 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 1,403 29,158 SH   SOLE   29,158 0 0
VENTAS INC COM 92276F100 46,765 652,228 SH   SOLE   652,228 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 7,817 167,100 SH   DFND 1 167,100 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 7,817 167,100 SH   SOLE   167,100 0 0
W P CAREY INC COM 92936U109 17,289 246,629 SH   SOLE   246,629 0 0
WASTE MGMT INC DEL COM 94106L109 2,576 50,200 SH   DFND 1 50,200 0 0
WASTE MGMT INC DEL COM 94106L109 2,576 50,200 SH   SOLE   50,200 0 0
PARTNERRE LTD COM G6852T105 23,570 206,518 SH   SOLE   206,518 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 2,587 38,900 SH   DFND 1 38,900 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 2,587 38,900 SH   SOLE   38,900 0 0
ACE LTD SHS H0023R105 3,929 34,200 SH   DFND 1 34,200 0 0
ACE LTD SHS H0023R105 3,929 34,200 SH   SOLE   34,200 0 0
TRONOX LTD SHS CL A Q9235V101 5,939 248,690 SH   SOLE   248,690 0 0