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
ACADIA RLTY TR COM SH BEN INT 004239109 38 1,441 SH   SOLE 3 1,441 0 0
AMREIT INC NEW CL B 03216B208 8 500 SH   SOLE 3 500 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 313 22,900 SH   SOLE 3 22,900 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 24,259 1,774,617 SH   SOLE 3 1,774,617 0 0
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 30 5,400 SH   SOLE 3 5,400 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 34 600 SH   SOLE 3 600 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,787 30,300 SH   SOLE 3 30,300 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 58 4,000 SH   SOLE 3 4,000 0 0
BRASKEM S A SP ADR PFD A 105532105 5 300 SH   SOLE 3 300 0 0
BRASKEM S A SP ADR PFD A 105532105 226 14,500 SH   SOLE 3 14,500 0 0
BROWN FORMAN CORP CL B 115637209 332 3,700 SH   SOLE 3 3,700 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 111 6,600 SH   SOLE 3 6,600 0 0
CAMDEN PPTY TR SH BEN INT 133131102 296 4,400 SH   SOLE 3 4,400 0 0
CARNIVAL CORP PAIRED CTF 143658300 398 10,500 SH   SOLE 3 10,500 0 0
CBS CORP NEW CL B 124857202 16,517 267,271 SH   SOLE 3 267,271 0 0
CELANESE CORP DEL COM SER A 150870103 244 4,400 SH   SOLE 3 4,400 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 60 4,716 SH   SOLE 3 4,716 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 262 20,748 SH   SOLE 3 20,748 0 0
CENTRAIS ELETRICAS BRASILEIR SPON ADR PFD B 15234Q108 5 1,000 SH   SOLE 3 1,000 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 172 1,400 SH   SOLE 3 1,400 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 33 1,300 SH   SOLE 3 1,300 0 0
CHINA LIFE INS CO LTD SPON ADR REP H 16939P106 1,726 40,648 SH   DFND 2 40,648 0 0
CHINA LIFE INS CO LTD SPON ADR REP H 16939P106 402 9,500 SH   SOLE 3 9,500 0 0
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 17133Q502 43 1,400 SH   SOLE 3 1,400 0 0
COMCAST CORP NEW CL A SPL 20030N200 634 13,000 SH   SOLE 3 13,000 0 0
COMMONWEALTH REIT COM SH BEN INT 203233101 76 2,875 SH   SOLE 3 2,875 0 0
COMPANHIA ENERGETICA DE MINA SP ADR N-V PFD 204409601 193 28,323 SH   SOLE 3 28,323 0 0
COMPANHIA ENERGETICA DE MINA SP ADR N-V PFD 204409601 1,777 261,299 SH   SOLE 3 261,299 0 0
COMPANHIA PARANAENSE ENERG C SPON ADR PFD 20441B407 5 400 SH   SOLE 3 400 0 0
COMPANHIA PARANAENSE ENERG C SPON ADR PFD 20441B407 79 6,000 SH   SOLE 3 6,000 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 90,770 3,407,269 SH   OTR 3 3,407,269 0 0
CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 59 2,200 SH   SOLE 3 2,200 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 188 2,440 SH   SOLE 3 2,440 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 301 3,640 SH   SOLE 3 3,640 0 0
DISNEY WALT CO COM DISNEY 254687106 240 3,000 SH   OTR 3 3,000 0 0
DISNEY WALT CO COM DISNEY 254687106 4,420 55,200 SH   SOLE 3 55,200 0 0
EATON VANCE CORP COM NON VTG 278265103 183 4,800 SH   SOLE 3 4,800 0 0
ECOPETROL S A SPONSORED ADS 279158109 29 700 SH   SOLE 3 700 0 0
EPR PPTYS COM SH BEN INT 26884U109 75 1,400 SH   SOLE 3 1,400 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 233,880 2,038,702 SH   OTR 3 2,038,702 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 447 3,900 SH   SOLE 3 3,900 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 75 800 SH   SOLE 3 800 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 242 2,600 SH   SOLE 3 2,600 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 248 15,900 SH   OTR 3 15,900 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 1,545 99,023 SH   SOLE 3 99,023 0 0
GERDAU S A SPON ADR REP PFD 373737105 23 3,600 SH   SOLE 3 3,600 0 0
GERDAU S A SPON ADR REP PFD 373737105 9,886 1,542,200 SH   SOLE 3 1,542,200 0 0
GLIMCHER RLTY TR SH BEN INT 379302102 15,894 1,584,643 SH   OTR 3 1,584,643 0 0
GLIMCHER RLTY TR SH BEN INT 379302102 39 3,900 SH   SOLE 3 3,900 0 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 35 1,400 SH   SOLE 3 1,400 0 0
GPO AEROPORTUARIO DEL PAC SA SPON ADR B 400506101 18 300 SH   SOLE 3 300 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 25 200 SH   SOLE 3 200 0 0
GRUPO FINANCIERO SANTANDER M SPON ADR SHS B 40053C105 26 2,100 SH   SOLE 3 2,100 0 0
GRUPO FINANCIERO SANTANDER M SPON ADR SHS B 40053C105 34 2,800 SH   SOLE 3 2,800 0 0
HERSHA HOSPITALITY TR SH BEN INT A 427825104 29 5,000 SH   SOLE 3 5,000 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 109 3,800 SH   SOLE 3 3,800 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 242 4,778 SH   DFND 2 4,778 0 0
IAC INTERACTIVECORP COM PAR $.001 44919P508 3,705 51,900 SH   SOLE 3 51,900 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730103 25 2,800 SH   SOLE 3 2,800 0 0
ISHARES MSCI CDA ETF 464286509 66 2,250 SH   SOLE 3 2,250 0 0
ISHARES MSCI PAC JP ETF 464286665 80 1,660 SH   SOLE 3 1,660 0 0
ISHARES MSCI UK ETF 464286699 206 10,000 SH   SOLE 3 10,000 0 0
ISHARES MSCI GERMANY ETF 464286806 345 11,000 SH   SOLE 3 11,000 0 0
ISHARES MSCI EMG MKT ETF 464287234 607 14,800 SH   SOLE 3 14,800 0 0
ISHARES INTL SEL DIV ETF 464288448 507 13,130 SH   SOLE 3 13,130 0 0
ISHARES IBOXX HI YD ETF 464288513 65,120 689,900 SH   SOLE 3 689,900 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 211 14,210 SH   SOLE 3 14,210 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 20,660 1,390,294 SH   SOLE 3 1,390,294 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 3,706 118,358 SH   OTR 3 118,358 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 85 2,700 SH   SOLE 3 2,700 0 0
LG DISPLAY CO LTD SPONS ADR REP 50186V102 26 2,100 SH   SOLE 3 2,100 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 619 15,209 SH   SOLE 3 15,209 0 0
LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 400 13,850 SH   SOLE 3 13,850 0 0
LIBERTY PPTY TR SH BEN INT 531172104 2,934 79,370 SH   OTR 3 79,370 0 0
LIBERTY PPTY TR SH BEN INT 531172104 307 8,300 SH   SOLE 3 8,300 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 1,103 12,400 SH   SOLE 3 12,400 0 0
MCCORMICK & CO INC COM NON VTG 579780206 258 3,600 SH   SOLE 3 3,600 0 0
MOLSON COORS BREWING CO CL B 60871R209 247 4,200 SH   SOLE 3 4,200 0 0
NATIONAL BK GREECE S A SPN ADR REP 1 SH 633643705 24 4,400 SH   SOLE 3 4,400 0 0
NIKE INC CL B 654106103 1,462 19,800 SH   SOLE 3 19,800 0 0
OI S.A. SPN ADR REP PFD 670851203 3 1,900 SH   SOLE 3 1,900 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 32 1,800 SH   SOLE 3 1,800 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 82 5,900 SH   SOLE 3 5,900 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 9,885 712,700 SH   SOLE 3 712,700 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 102 3,900 SH   SOLE 3 3,900 0 0
POWERSHARES GLOBAL ETF TRUST EMER MRKT PORT 73936T763 477 24,000 SH   SOLE 3 24,000 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 14,603 895,879 SH   OTR 3 895,879 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 28 1,700 SH   SOLE 3 1,700 0 0
SELECT INCOME REIT COM SH BEN INT 81618T100 21 700 SH   SOLE 3 700 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 789 35,093 SH   OTR 3 35,093 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 110 4,900 SH   SOLE 3 4,900 0 0
SILICONWARE PRECISION INDS L SPONSD ADR SPL 827084864 18 2,700 SH   SOLE 3 2,700 0 0
SINOPEC SHANGHAI PETROCHEMIC SPON ADR H 82935M109 17 650 SH   SOLE 3 650 0 0
SOCIEDAD QUIMICA MINERA DE C SPON ADR SER B 833635105 13 400 SH   SOLE 3 400 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 411 2,500 SH   SOLE 3 2,500 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,305 6,980 SH   SOLE 3 6,980 0 0
SPRINT CORP COM SER 1 85207U105 256 27,879 SH   SOLE 3 27,879 0 0
TURKCELL ILETISIM HIZMETLERI SPON ADR NEW 900111204 33 2,400 SH   SOLE 3 2,400 0 0
TWENTY FIRST CENTY FOX INC CL B 90130A200 367 11,800 SH   SOLE 3 11,800 0 0
UNITED MICROELECTRONICS CORP SPON ADR NEW 910873405 23 11,000 SH   SOLE 3 11,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 88 900 SH   OTR 3 900 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,899 19,500 SH   SOLE 3 19,500 0 0
UNIVERSAL HEALTH RLTY INCM T SH BEN INT 91359E105 13 300 SH   SOLE 3 300 0 0
UNIVERSAL HLTH SVCS INC CL B 913903100 222 2,700 SH   OTR 3 2,700 0 0
UNIVERSAL HLTH SVCS INC CL B 913903100 164 2,000 SH   SOLE 3 2,000 0 0
VALE S A ADR REPSTG PFD 91912E204 100 8,000 SH   SOLE 3 8,000 0 0
VALE S A ADR REPSTG PFD 91912E204 10,346 831,000 SH   SOLE 3 831,000 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 284 7,000 SH   SOLE 3 7,000 0 0
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 249 3,950 SH   SOLE 3 3,950 0 0
VIACOM INC NEW CL B 92553P201 17,038 200,471 SH   SOLE 3 200,471 0 0
VORNADO RLTY TR SH BEN INT 929042109 625,395 6,345,327 SH   OTR 3 6,345,327 0 0
VORNADO RLTY TR SH BEN INT 929042109 894 9,069 SH   SOLE 3 9,069 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 41 1,700 SH   SOLE 3 1,700 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 199,600 6,653,324 SH   OTR 3 6,653,324 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 87 2,900 SH   SOLE 3 2,900 0 0
WINTHROP RLTY TR SH BEN INT NEW 976391300 10 860 SH   SOLE 3 860 0 0
***ERROR:MISSING*** ***MISSING*** 97651M109 37 2,796 SH   SOLE 3 2,796 0 0
3-D SYS CORP COM NEW 88554D205 591 10,000 SH   DFND 1,2 10,000 0 0
3M COM 88579Y101 3,337 24,600 SH   SOLE 3 24,600 0 0
ABBOTT COM 002824100 1,590 41,300 SH   SOLE 3 41,300 0 0
ABBVIE COM 00287Y109 195 3,800 SH   OTR 3 3,800 0 0
ABBVIE COM 00287Y109 2,241 43,600 SH   SOLE 3 43,600 0 0
ACCENTURE PLC IRELAND CLASS A G1151C101 80 1,000 SH   OTR 3 1,000 0 0
ACCENTURE PLC IRELAND CLASS A G1151C101 1,387 17,400 SH   SOLE 3 17,400 0 0
ACE SHS H0023R105 901 9,100 SH   SOLE 3 9,100 0 0
ACTIVISION BLIZZARD COM 00507V109 241 11,800 SH   SOLE 3 11,800 0 0
ADOBE SYS COM 00724F101 841 12,800 SH   SOLE 3 12,800 0 0
ADVANCE AUTO PARTS COM 00751Y106 234 1,850 SH   SOLE 3 1,850 0 0
ADVANCED SEMICONDUCTOR ENGR ADR 00756M404 31 5,600 SH   SOLE 3 5,600 0 0
AES COM 00130H105 268 18,800 SH   SOLE 3 18,800 0 0
AETNA INC COM 00817Y108 165 2,200 SH   OTR 3 2,200 0 0
AETNA INC COM 00817Y108 725 9,673 SH   SOLE 3 9,673 0 0
AFFILIATED MANAGERS COM 008252108 240 1,200 SH   SOLE 3 1,200 0 0
AFLAC COM 001055102 820 13,000 SH   SOLE 3 13,000 0 0
AGCO COM 001084102 299 5,431 SH   DFND 4,1,2 5,431 0 0
AGCO COM 001084102 165 3,000 SH   SOLE 3 3,000 0 0
AGILENT TECHNOLOGIES COM 00846U101 497 8,890 SH   SOLE 3 8,890 0 0
AGREE REALTY COM 008492100 12 400 SH   SOLE 3 400 0 0
AIR PRODS & CHEMS COM 009158106 679 5,700 SH   SOLE 3 5,700 0 0
AIRGAS COM 009363102 213 2,000 SH   SOLE 3 2,000 0 0
AKAMAI TECHNOLOGIES COM 00971T101 279 4,800 SH   SOLE 3 4,800 0 0
ALASKA AIR GROUP COM 011659109 93 1,000 SH   OTR 3 1,000 0 0
ALASKA AIR GROUP COM 011659109 7,623 81,700 SH   SOLE 3 81,700 0 0
ALBEMARLE COM 012653101 146 2,200 SH   SOLE 3 2,200 0 0
ALCOA COM 013817101 372 28,900 SH   SOLE 3 28,900 0 0
ALEXANDRIA REAL ESTATE EQ COM 015271109 11,676 160,911 SH   OTR 3 160,911 0 0
ALEXANDRIA REAL ESTATE EQ COM 015271109 145 2,000 SH   SOLE 3 2,000 0 0
ALEXION PHARMACEUTICALS COM 015351109 806 5,300 SH   SOLE 3 5,300 0 0
ALLEGHANY CORP COM 017175100 163 400 SH   SOLE 3 400 0 0
ALLERGAN COM 018490102 993 8,000 SH   SOLE 3 8,000 0 0
ALLIANCE DATA SYSTEMS COM 018581108 354 1,300 SH   SOLE 3 1,300 0 0
ALLIANT ENERGY COM 018802108 216 3,800 SH   SOLE 3 3,800 0 0
ALLIANT TECHSYSTEMS INC NOTE 3.000% 8/1 018804AK0 9,324 5,000,000 PRN   DFND 4,1,2 5,000,000 0 0
ALLSTATE COM 020002101 696 12,300 SH   SOLE 3 12,300 0 0
ALTERA COM 021441100 341 9,400 SH   SOLE 3 9,400 0 0
ALTRIA GROUP COM 02209S103 2,029 54,200 SH   SOLE 3 54,200 0 0
ALUMINUM CORP CHINA LTD SPON ADR SHS 022276109 26 3,000 SH   SOLE 3 3,000 0 0
AMAZON COM COM 023135106 740 2,200 SH   DFND 1,2 2,200 0 0
AMAZON COM COM 023135106 3,364 10,000 SH   SOLE 3 10,000 0 0
AMBEV SA ADR 02319V103 139 18,700 SH   SOLE 3 18,700 0 0
AMBEV SA ADR 02319V103 5,921 799,000 SH   SOLE 3 799,000 0 0
AMEREN COM 023608102 276 6,700 SH   SOLE 3 6,700 0 0
AMERICA MOVIL SAB DE CV SPON ADR SHS 02364W105 91 4,600 SH   SOLE 3 4,600 0 0
AMERICA MOVIL SAB DE CV SPON ADR SHS 02364W105 378 19,000 SH   SOLE 3 19,000 0 0
AMERICAN ASSETS TR COM 024013104 13,196 391,118 SH   OTR 3 391,118 0 0
AMERICAN ASSETS TR COM 024013104 30 900 SH   SOLE 3 900 0 0
AMERICAN CAMPUS CMNTYS COM 024835100 7,370 197,310 SH   OTR 3 197,310 0 0
AMERICAN CAMPUS CMNTYS COM 024835100 100 2,668 SH   SOLE 3 2,668 0 0
AMERICAN CAPITAL AGENCY COM 02503X105 215 10,000 SH   SOLE 3 10,000 0 0
AMERICAN ELEC PWR COM 025537101 674 13,300 SH   SOLE 3 13,300 0 0
AMERICAN EXPRESS COM 025816109 90 1,000 SH   OTR 3 1,000 0 0
AMERICAN EXPRESS COM 025816109 10,470 116,300 SH   SOLE 3 116,300 0 0
AMERICAN HOMES 4 CL A 02665T306 20 1,200 SH   SOLE 3 1,200 0 0
AMERICAN INTL GROUP COM NEW 026874784 4,126 82,500 SH   OTR 3 82,500 0 0
AMERICAN INTL GROUP COM NEW 026874784 1,880 37,592 SH   SOLE 3 37,592 0 0
AMERICAN RESIDENTIAL PPTYS COM 02927E303 7 400 SH   SOLE 3 400 0 0
AMERICAN RLTY CAP PPTYS COM 02917T104 482 34,374 SH   SOLE 3 34,374 0 0
AMERICAN TOWER CORP COM 03027X100 909 11,100 SH   SOLE 3 11,100 0 0
AMERICAN WTR WKS CO INC COM 030420103 241 5,300 SH   SOLE 3 5,300 0 0
AMERIPRISE FINL COM 03076C106 330 3,000 SH   OTR 3 3,000 0 0
AMERIPRISE FINL COM 03076C106 7,172 65,160 SH   SOLE 3 65,160 0 0
AMERISOURCEBERGEN COM 03073E105 2,879 43,900 SH   SOLE 3 43,900 0 0
AMETEK INC COM 031100100 376 7,300 SH   SOLE 3 7,300 0 0
AMGEN COM 031162100 2,504 20,300 SH   SOLE 3 20,300 0 0
AMPHENOL CORP CL A 032095101 394 4,300 SH   SOLE 3 4,300 0 0
ANADARKO PETE COM 032511107 170 2,000 SH   OTR 3 2,000 0 0
ANADARKO PETE COM 032511107 1,170 13,800 SH   SOLE 3 13,800 0 0
ANALOG DEVICES COM 032654105 430 8,100 SH   SOLE 3 8,100 0 0
ANGLOGOLD ASHANTI LTD ADR 035128206 46 2,700 SH   SOLE 3 2,700 0 0
ANNALY CAP MGMT COM 035710409 290 26,400 SH   SOLE 3 26,400 0 0
ANSYS COM 03662Q105 162 2,100 SH   SOLE 3 2,100 0 0
AON PLC CL A G0408V102 2,975 35,300 SH   OTR 3 35,300 0 0
AON PLC CL A G0408V102 674 8,000 SH   SOLE 3 8,000 0 0
APACHE COM 037411105 888 10,710 SH   SOLE 3 10,710 0 0
APARTMENT INVT & MGMT CL A 03748R101 203,813 6,744,304 SH   OTR 3 6,744,304 0 0
APARTMENT INVT & MGMT CL A 03748R101 130 4,292 SH   SOLE 3 4,292 0 0
APPLE COM 037833100 4,187 7,800 SH   OTR 3 7,800 0 0
APPLE COM 037833100 443 826 SH   SOLE   826 0 0
APPLE COM 037833100 13,311 24,800 SH   SOLE 3 24,800 0 0
APPLIED MATLS COM 038222105 9,283 454,700 SH   OTR 3 454,700 0 0
APPLIED MATLS COM 038222105 902 44,200 SH   SOLE 3 44,200 0 0
ARCH CAP GROUP ORD G0450A105 213 3,700 SH   SOLE 3 3,700 0 0
ARCHER DANIELS MIDLAND COM 039483102 768 17,700 SH   SOLE 3 17,700 0 0
ARMADA HOFFLER PPTYS COM 04208T108 5 500 SH   SOLE 3 500 0 0
ARROW ELECTRS COM 042735100 160 2,700 SH   SOLE 3 2,700 0 0
ASHFORD HOSPITALITY PRIME COM 044102101 2,234 147,761 SH   OTR 3 147,761 0 0
ASHFORD HOSPITALITY PRIME COM 044102101 5 360 SH   SOLE 3 360 0 0
ASHFORD HOSPITALITY TR INC SHS 044103109 21 1,900 SH   SOLE 3 1,900 0 0
ASHLAND INC COM 044209104 179 1,800 SH   SOLE 3 1,800 0 0
ASSOCIATED ESTATES RLTY COM 045604105 25 1,500 SH   SOLE 3 1,500 0 0
ASSURANT COM 04621X108 136 2,100 SH   SOLE 3 2,100 0 0
AT&T COM 00206R102 312 8,900 SH   OTR 3 8,900 0 0
AT&T COM 00206R102 5,004 142,695 SH   SOLE 3 142,695 0 0
AU OPTRONICS CORP ADR 002255107 14 3,900 SH   SOLE 3 3,900 0 0
AUTODESK COM 052769106 295 6,000 SH   SOLE 3 6,000 0 0
AUTOLIV COM 052800109 341 3,400 SH   SOLE 3 3,400 0 0
AUTOMATIC DATA PROCESSING COM 053015103 1,020 13,200 SH   SOLE 3 13,200 0 0
AUTOZONE COM 053332102 7,197 13,400 SH   SOLE 3 13,400 0 0
AVAGO TECHNOLOGIES SHS Y0486S104 406 6,300 SH   OTR 3 6,300 0 0
AVAGO TECHNOLOGIES SHS Y0486S104 444 6,900 SH   SOLE 3 6,900 0 0
AVALONBAY CMNTYS COM 053484101 12,060 91,840 SH   OTR 3 91,840 0 0
AVALONBAY CMNTYS COM 053484101 902 6,869 SH   SOLE 3 6,869 0 0
AVERY DENNISON COM 053611109 152 3,000 SH   SOLE 3 3,000 0 0
AVIV REIT INC COM 05381L101 10 400 SH   SOLE 3 400 0 0
AVNET COM 053807103 181 3,900 SH   SOLE 3 3,900 0 0
AVON PRODS COM 054303102 170 11,600 SH   SOLE 3 11,600 0 0
AXIS CAPITAL HOLDINGS SHS G0692U109 133 2,900 SH   SOLE 3 2,900 0 0
B/E AEROSPACE COM 073302101 200 2,300 SH   SOLE 3 2,300 0 0
BAKER HUGHES COM 057224107 794 12,204 SH   SOLE 3 12,204 0 0
BALL COM 058498106 4,056 74,000 SH   SOLE 3 74,000 0 0
BANCO DE CHILE ADR 059520106 16 214 SH   SOLE 3 214 0 0
BANCO SANTANDER CHILE NEW SP ADR COM 05965X109 21 900 SH   SOLE 3 900 0 0
BANCO SANTANDER CHILE NEW SP ADR COM 05965X109 77 3,300 SH   SOLE 3 3,300 0 0
BANK NEW YORK MELLON COM 064058100 4,601 130,371 SH   SOLE 3 130,371 0 0
BANK OF AMERICA COM 060505104 6,557 381,200 SH   OTR 3 381,200 0 0
BANK OF AMERICA COM 060505104 5,583 324,614 SH   SOLE 3 324,614 0 0
BARD C R COM 067383109 2,486 16,800 SH   SOLE 3 16,800 0 0
BAXTER INTL COM 071813109 1,163 15,800 SH   SOLE 3 15,800 0 0
BB&T COM 054937107 787 19,600 SH   SOLE 3 19,600 0 0
BEAM COM 073730103 325 3,900 SH   SOLE 3 3,900 0 0
BECTON DICKINSON & COM 075887109 738 6,300 SH   SOLE 3 6,300 0 0
BED BATH & BEYOND COM 075896100 420 6,100 SH   SOLE 3 6,100 0 0
BERKLEY W R COM 084423102 175 4,200 SH   SOLE 3 4,200 0 0
BEST BUY COM 086516101 198 7,500 SH   SOLE 3 7,500 0 0
BIOGEN IDEC COM 09062X103 1,997 6,530 SH   SOLE 3 6,530 0 0
BIOMARIN PHARMACEUTICAL COM 09061G101 2,791 40,921 SH   DFND 4,1,2 40,921 0 0
BIOMARIN PHARMACEUTICAL COM 09061G101 246 3,600 SH   SOLE 3 3,600 0 0
BIOMED REALTY TRUST COM 09063H107 100 4,900 SH   SOLE 3 4,900 0 0
BLACKROCK COM 09247X101 3,585 11,400 SH   OTR 3 11,400 0 0
BLACKROCK COM 09247X101 1,164 3,700 SH   SOLE 3 3,700 0 0
BLOCK H & R COM 093671105 211 7,000 SH   SOLE 3 7,000 0 0
BOEING COM 097023105 3,752 29,900 SH   SOLE 3 29,900 0 0
BORGWARNER COM 099724106 381 6,200 SH   SOLE 3 6,200 0 0
BOSTON PROPERTIES COM 101121101 414,485 3,619,008 SH   OTR 3 3,619,008 0 0
BOSTON PROPERTIES COM 101121101 962 8,400 SH   SOLE 3 8,400 0 0
BOSTON SCIENTIFIC COM 101137107 510 37,747 SH   SOLE 3 37,747 0 0
BRE PROPERTIES CL A 05564E106 16,094 256,360 SH   OTR 3 256,360 0 0
BRE PROPERTIES CL A 05564E106 138 2,200 SH   SOLE 3 2,200 0 0
BRF SA ADR 10552T107 52 2,600 SH   SOLE 3 2,600 0 0
BRF SA ADR 10552T107 9,087 454,800 SH   SOLE 3 454,800 0 0
BRINKER INTL COM 109641100 7,614 145,169 SH   SOLE 3 145,169 0 0
BRISTOL MYERS SQUIBB COM 110122108 6,244 120,200 SH   SOLE 3 120,200 0 0
BRIXMOR PPTY GROUP COM 11120U105 23 1,100 SH   SOLE 3 1,100 0 0
BROADCOM CL A 111320107 167 5,300 SH   OTR 3 5,300 0 0
BROADCOM CL A 111320107 521 16,550 SH   SOLE 3 16,550 0 0
BROCADE COMMUNICATIONS SYS COM NEW 111621306 2,880 271,400 SH   SOLE 3 271,400 0 0
BUNGE COM G16962105 350 4,400 SH   SOLE 3 4,400 0 0
C H ROBINSON WORLDWIDE COM NEW 12541W209 194 3,700 SH   SOLE 3 3,700 0 0
CA COM 12673P105 276 8,905 SH   SOLE 3 8,905 0 0
CABOT OIL & GAS COM 127097103 393 11,600 SH   SOLE 3 11,600 0 0
CACI INTL INC NOTE 2.125% 5/0 127190AD8 28,859 20,998,000 PRN   DFND 4,1,2 20,998,000 0 0
CALPINE COM NEW 131347304 171 8,200 SH   SOLE 3 8,200 0 0
CAMERON INTERNATIONAL COM 13342B105 402 6,500 SH   SOLE 3 6,500 0 0
CAMPBELL SOUP COM 134429109 238 5,300 SH   SOLE 3 5,300 0 0
CAMPUS CREST CMNTYS COM 13466Y105 14 1,600 SH   SOLE 3 1,600 0 0
CAPITAL ONE FINL COM 14040H105 139 1,800 SH   OTR 3 1,800 0 0
CAPITAL ONE FINL COM 14040H105 1,254 16,254 SH   SOLE 3 16,254 0 0
CARDINAL HEALTH COM 14149Y108 644 9,200 SH   SOLE 3 9,200 0 0
CAREFUSION COM 14170T101 235 5,850 SH   SOLE 3 5,850 0 0
CARMAX COM 143130102 1,699 36,300 SH   OTR 3 36,300 0 0
CARMAX COM 143130102 304 6,500 SH   SOLE 3 6,500 0 0
CARRIAGE SVCS COM 143905107 310 17,000 SH   DFND 4,1,2 17,000 0 0
CARRIAGE SVCS PUT 143905957 3 500 SH   DFND 4,1,2 500 0 0
CATERPILLAR INC COM 149123101 1,719 17,300 SH   SOLE 3 17,300 0 0
CBL & ASSOC PPTYS COM 124830100 77 4,345 SH   SOLE 3 4,345 0 0
CBRE GROUP CL A 12504L109 2,493 90,900 SH   OTR 3 90,900 0 0
CBRE GROUP CL A 12504L109 241 8,800 SH   SOLE 3 8,800 0 0
CEDAR REALTY TRUST COM NEW 150602209 10 1,600 SH   SOLE 3 1,600 0 0
CELGENE COM 151020104 1,536 11,000 SH   SOLE 3 11,000 0 0
CENCOSUD S A SPONSORED ADS 15132H101 15 1,500 SH   SOLE 3 1,500 0 0
CENTERPOINT ENERGY COM 15189T107 291 12,300 SH   SOLE 3 12,300 0 0
CENTRAIS ELETRICAS BRASILEIR ADR 15234Q207 3 1,200 SH   SOLE 3 1,200 0 0
CENTURYLINK COM 156700106 501 15,242 SH   SOLE 3 15,242 0 0
CERNER COM 156782104 473 8,400 SH   SOLE 3 8,400 0 0
CF INDS HLDGS COM 125269100 417 1,600 SH   SOLE 3 1,600 0 0
CHAMBERS STR COM 157842105 47 6,100 SH   SOLE 3 6,100 0 0
CHATHAM LODGING COM 16208T102 14 700 SH   SOLE 3 700 0 0
CHENIERE ENERGY COM NEW 16411R208 255 4,600 SH   SOLE 3 4,600 0 0
CHESAPEAKE ENERGY COM 165167107 379 14,800 SH   SOLE 3 14,800 0 0
CHEVRON CORP COM 166764100 214 1,800 SH   OTR 3 1,800 0 0
CHEVRON CORP COM 166764100 6,185 52,018 SH   SOLE 3 52,018 0 0
CHICAGO BRIDGE & IRON CO N COM 167250109 200 2,300 SH   SOLE 3 2,300 0 0
CHINA MOBILE LIMITED ADR 16941M109 1,738 37,967 SH   DFND 2 37,967 0 0
CHINA MOBILE LIMITED ADR 16941M109 201 4,400 SH   SOLE 3 4,400 0 0
CHINA PETE & CHEM CORP SPON ADR SHS 16941R108 156 1,748 SH   DFND 2 1,748 0 0
CHINA PETE & CHEM CORP SPON ADR SHS 16941R108 110 1,230 SH   SOLE 3 1,230 0 0
CHINA TELECOM CORP LTD SPON ADR SHS 169426103 51 1,105 SH   DFND 2 1,105 0 0
CHINA TELECOM CORP LTD SPON ADR SHS 169426103 23 500 SH   SOLE 3 500 0 0
CHINA UNICOM (HONG KONG) LTD ADR 16945R104 22 1,700 SH   SOLE 3 1,700 0 0
CHIPOTLE MEXICAN GRILL COM 169656105 454 800 SH   SOLE 3 800 0 0
CHUBB COM 171232101 634 7,100 SH   SOLE 3 7,100 0 0
CHURCH & DWIGHT COM 171340102 262 3,800 SH   SOLE 3 3,800 0 0
CIGNA COM 125509109 167 2,000 SH   OTR 3 2,000 0 0
CIGNA COM 125509109 620 7,400 SH   SOLE 3 7,400 0 0
CIMAREX ENERGY COM 171798101 3,192 26,800 SH   OTR 3 26,800 0 0
CIMAREX ENERGY COM 171798101 274 2,300 SH   SOLE 3 2,300 0 0
CINCINNATI FINL COM 172062101 225 4,615 SH   SOLE 3 4,615 0 0
CINTAS COM 172908105 191 3,200 SH   SOLE 3 3,200 0 0
CISCO SYS COM 17275R102 202 9,000 SH   OTR 3 9,000 0 0
CISCO SYS COM 17275R102 3,228 144,000 SH   SOLE 3 144,000 0 0
CIT GROUP COM NEW 125581801 255 5,200 SH   SOLE 3 5,200 0 0
CITIGROUP COM NEW 172967424 2,951 62,000 SH   OTR 3 62,000 0 0
CITIGROUP COM NEW 172967424 3,927 82,503 SH   SOLE 3 82,503 0 0
CITRIX SYS COM 177376100 195 3,400 SH   OTR 3 3,400 0 0
CITRIX SYS COM 177376100 304 5,300 SH   SOLE 3 5,300 0 0
CLEAN ENERGY FUELS COM 184499101 178 20,000 SH   DFND 4,1,2 20,000 0 0
CLEAN ENERGY FUELS PUT 184499951 25 500 SH   DFND 4,1,2 500 0 0
CLEAN ENERGY FUELS PUT 184499951 170 1,000 SH   DFND 4,1,2 1,000 0 0
CLEAN ENERGY FUELS PUT 184499951 100 1,000 SH   DFND 4,1,2 1,000 0 0
CLOROX CO COM 189054109 334 3,800 SH   SOLE 3 3,800 0 0
CME GROUP COM 12572Q105 637 8,600 SH   SOLE 3 8,600 0 0
CMS ENERGY COM 125896100 187 6,400 SH   SOLE 3 6,400 0 0
CNO FINL GROUP COM 12621E103 3,153 174,200 SH   SOLE 3 174,200 0 0
CNOOC LTD ADR 126132109 854 5,682 SH   DFND 2 5,682 0 0
CNOOC LTD ADR 126132109 137 900 SH   SOLE 3 900 0 0
COACH COM 189754104 372 7,500 SH   SOLE 3 7,500 0 0
COBALT INTL ENERGY COM 19075F106 145 7,900 SH   SOLE 3 7,900 0 0
COCA COLA COM 191216100 4,202 108,700 SH   SOLE 3 108,700 0 0
COCA COLA ENTERPRISE INC NE COM 191241108 21 200 SH   SOLE 3 200 0 0
COCA COLA ENTERPRISES INC COM 19122T109 406 8,500 SH   SOLE 3 8,500 0 0
COGNIZANT TECHNOLOGY CL A 192446102 850 16,800 SH   SOLE 3 16,800 0 0
COLGATE PALMOLIVE COM 194162103 1,609 24,800 SH   SOLE 3 24,800 0 0
COLUMBIA PPTY TR COM NEW 198287203 87 3,200 SH   SOLE 3 3,200 0 0
COMCAST CORP CL A 20030N101 7,790 155,670 SH   SOLE 3 155,670 0 0
COMERICA COM 200340107 259 5,000 SH   SOLE 3 5,000 0 0
COMMONWEALTH REIT CV PFD-E 7.25% 203233606 16,206 644,385 SH   OTR 3 0 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR CL A 20440T201 26 600 SH   SOLE 3 600 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR CL A 20440T201 3,697 84,478 SH   SOLE 3 84,478 0 0
COMPANHIA DE SANEAMENTO BASI ADR 20441A102 14 1,500 SH   SOLE 3 1,500 0 0
COMPANHIA DE SANEAMENTO BASI ADR 20441A102 489 52,800 SH   SOLE 3 52,800 0 0
COMPANHIA SIDERURGICA NACION ADR 20440W105 14 3,100 SH   SOLE 3 3,100 0 0
COMPANHIA SIDERURGICA NACION ADR 20440W105 134 30,800 SH   SOLE 3 30,800 0 0
COMPANIA CERVECERIAS UNIDAS ADR 204429104 7 300 SH   SOLE 3 300 0 0
COMPANIA CERVECERIAS UNIDAS ADR 204429104 45 2,000 SH   SOLE 3 2,000 0 0
COMPANIA DE MINAS BUENAVENTU ADR 204448104 10 800 SH   SOLE 3 800 0 0
COMPUTER SCIENCES COM 205363104 262 4,300 SH   SOLE 3 4,300 0 0
CONAGRA FOODS COM 205887102 372 12,000 SH   SOLE 3 12,000 0 0
CONCHO RES COM 20605P101 355 2,900 SH   SOLE 3 2,900 0 0
CONOCOPHILLIPS COM 20825C104 2,216 31,500 SH   SOLE 3 31,500 0 0
CONSOL ENERGY COM 20854P109 260 6,500 SH   SOLE 3 6,500 0 0
CONSOLIDATED EDISON COM 209115104 440 8,200 SH   SOLE 3 8,200 0 0
CONSTELLATION BRANDS CL A 21036P108 382 4,500 SH   SOLE 3 4,500 0 0
CONTINENTAL RESOURCES COM 212015101 149 1,200 SH   SOLE 3 1,200 0 0
CORE LABORATORIES N COM N22717107 198 1,000 SH   SOLE 3 1,000 0 0
CORESITE RLTY COM 21870Q105 16 500 SH   SOLE 3 500 0 0
CORNING COM 219350105 795 38,200 SH   SOLE 3 38,200 0 0
CORPBANCA ADR 21987A209 9 500 SH   SOLE 3 500 0 0
CORRECTIONS CORP AMER COM NEW 22025Y407 95 3,035 SH   SOLE 3 3,035 0 0
COSAN SHS A G25343107 279 24,500 SH   SOLE 3 24,500 0 0
COSTCO WHSL CORP COM 22160K105 45 400 SH   OTR 3 400 0 0
COSTCO WHSL CORP COM 22160K105 1,351 12,100 SH   SOLE 3 12,100 0 0
COUSINS PPTYS COM 222795106 53 4,663 SH   SOLE 3 4,663 0 0
COVANTA HLDG COM 22282E102 141 7,800 SH   SOLE 3 7,800 0 0
COVANTA HLDG CORP NOTE 3.250% 6/0 22282EAC6 12,822 11,000,000 PRN   DFND 4,1,2 11,000,000 0 0
COVIDIEN SHS G2554F113 169 2,300 SH   OTR 3 2,300 0 0
COVIDIEN SHS G2554F113 930 12,625 SH   SOLE 3 12,625 0 0
CPFL ENERGIA S A ADR 126153105 8 500 SH   SOLE 3 500 0 0
CPFL ENERGIA S A ADR 126153105 1,829 112,000 SH   SOLE 3 112,000 0 0
CREE COM 225447101 526 9,300 SH   SOLE 3 9,300 0 0
CROWN CASTLE INTL COM 228227104 708 9,600 SH   SOLE 3 9,600 0 0
CROWN HOLDINGS COM 228368106 201 4,500 SH   SOLE 3 4,500 0 0
CSX COM 126408103 206 7,100 SH   OTR 3 7,100 0 0
CSX COM 126408103 831 28,700 SH   SOLE 3 28,700 0 0
CUBESMART COM 229663109 119,356 6,955,457 SH   OTR 3 6,955,457 0 0
CUBESMART COM 229663109 57 3,300 SH   SOLE 3 3,300 0 0
CUMMINS COM 231021106 10,295 69,100 SH   SOLE 3 69,100 0 0
CVS CAREMARK COM 126650100 342 4,575 SH   OTR 3 4,575 0 0
CVS CAREMARK COM 126650100 4,871 65,074 SH   SOLE 3 65,074 0 0
CYRUSONE COM 23283R100 10 500 SH   SOLE 3 500 0 0
D R HORTON COM 23331A109 2,004 92,566 SH   SOLE 3 92,566 0 0
DANAHER CORP COM 235851102 1,905 25,400 SH   SOLE 3 25,400 0 0
DARDEN RESTAURANTS COM 237194105 208 4,100 SH   SOLE 3 4,100 0 0
DAVITA HEALTHCARE PARTNERS COM 23918K108 337 4,900 SH   SOLE 3 4,900 0 0
DCT INDUSTRIAL TRUST COM 233153105 66 8,400 SH   SOLE 3 8,400 0 0
DDR COM 23317H102 198,881 12,067,996 SH   OTR 3 12,067,996 0 0
DDR COM 23317H102 143 8,658 SH   SOLE 3 8,658 0 0
DEAN FOODS CO COM NEW 242370203 376 24,336 SH   DFND 4,1,2 24,336 0 0
DEERE & COM 244199105 890 9,800 SH   SOLE 3 9,800 0 0
DELPHI AUTOMOTIVE SHS G27823106 7,030 103,600 SH   SOLE 3 103,600 0 0
DELTA AIR LINES INC COM NEW 247361702 152 4,400 SH   SOLE 3 4,400 0 0
DENBURY RES COM NEW 247916208 167 10,200 SH   SOLE 3 10,200 0 0
DENTSPLY INTL INC COM 249030107 203 4,400 SH   SOLE 3 4,400 0 0
DEVON ENERGY CORP COM 25179M103 80 1,200 SH   OTR 3 1,200 0 0
DEVON ENERGY CORP COM 25179M103 703 10,500 SH   SOLE 3 10,500 0 0
DIAMOND OFFSHORE DRILLING COM 25271C102 132 2,700 SH   SOLE 3 2,700 0 0
DIAMONDROCK HOSPITALITY COM 252784301 157,103 13,370,483 SH   OTR 3 13,370,483 0 0
DIAMONDROCK HOSPITALITY COM 252784301 58 4,942 SH   SOLE 3 4,942 0 0
DICKS SPORTING GOODS COM 253393102 126 2,300 SH   SOLE 3 2,300 0 0
DIGITAL RLTY TR COM 253868103 78,285 1,474,852 SH   OTR 3 1,474,852 0 0
DIGITAL RLTY TR COM 253868103 382 7,200 SH   SOLE 3 7,200 0 0
DIRECT TV COM 25490A309 1,030 13,483 SH   SOLE 3 13,483 0 0
DISCOVER FINL COM 254709108 19,488 334,900 SH   SOLE 3 334,900 0 0
DISH NETWORK CL A 25470M109 392 6,300 SH   SOLE 3 6,300 0 0
DOLLAR GEN CORP COM 256677105 483 8,700 SH   SOLE 3 8,700 0 0
DOLLAR TREE COM 256746108 297 5,700 SH   SOLE 3 5,700 0 0
DOMINION RES INC VA COM 25746U109 1,143 16,100 SH   SOLE 3 16,100 0 0
DOUGLAS EMMETT COM 25960P109 96,568 3,558,145 SH   OTR 3 3,558,145 0 0
DOUGLAS EMMETT COM 25960P109 90 3,300 SH   SOLE 3 3,300 0 0
DOVER COM 260003108 646 7,900 SH   SOLE 3 7,900 0 0
DOW CHEM COM 260543103 155 3,200 SH   OTR 3 3,200 0 0
DOW CHEM COM 260543103 1,696 34,900 SH   SOLE 3 34,900 0 0
DR PEPPER SNAPPLE GROUP COM 26138E109 306 5,624 SH   SOLE 3 5,624 0 0
DR REDDYS LABS ADR 256135203 92 2,100 SH   SOLE 3 2,100 0 0
DST SYS INC COM 233326107 8,019 84,600 SH   SOLE 3 84,600 0 0
DTE ENERGY COM 233331107 364 4,900 SH   SOLE 3 4,900 0 0
DU PONT E I DE NEMOURS & COM 263534109 7,804 116,300 SH   SOLE 3 116,300 0 0
DUKE ENERGY CORP COM NEW 26441C204 1,379 19,366 SH   SOLE 3 19,366 0 0
DUKE REALTY COM NEW 264411505 75,571 4,476,973 SH   OTR 3 4,476,973 0 0
DUKE REALTY COM NEW 264411505 294 17,400 SH   SOLE 3 17,400 0 0
DUN & BRADSTREET CORP DEL COM 26483E100 129 1,300 SH   SOLE 3 1,300 0 0
DUPONT FABROS TECHNOLOGY COM 26613Q106 39 1,600 SH   SOLE 3 1,600 0 0
E M C CORP COM 268648102 1,516 55,300 SH   SOLE 3 55,300 0 0
EAGLE MATERIALS COM 26969P108 81 916 SH   OTR 3 916 0 0
EASTGROUP PPTY COM 277276101 50 800 SH   SOLE 3 800 0 0
EASTMAN CHEM COM 277432100 707 8,200 SH   SOLE 3 8,200 0 0
EATON CORP SHS G29183103 1,701 22,648 SH   SOLE 3 22,648 0 0
EBAY COM 278642103 1,746 31,600 SH   SOLE 3 31,600 0 0
ECOLAB COM 278865100 799 7,400 SH   SOLE 3 7,400 0 0
EDISON COM 281020107 498 8,800 SH   SOLE 3 8,800 0 0
EDUCATION RLTY TR COM 28140H104 14,268 1,445,636 SH   OTR 3 1,445,636 0 0
EDUCATION RLTY TR COM 28140H104 30 3,000 SH   SOLE 3 3,000 0 0
EDWARDS LIFESCIENCES COM 28176E108 230 3,100 SH   SOLE 3 3,100 0 0
ELECTRONIC ARTS COM 285512109 244 8,400 SH   SOLE 3 8,400 0 0
EMBOTELLADORA ANDINA S A SPON ADR B 29081P303 4 200 SH   SOLE 3 200 0 0
EMBRAER S A SP ADR REP COM 29082A107 46 1,300 SH   SOLE 3 1,300 0 0
EMBRAER S A SP ADR REP COM 29082A107 4,308 121,400 SH   SOLE 3 121,400 0 0
EMERSON ELEC COM 291011104 1,443 21,600 SH   SOLE 3 21,600 0 0
EMPIRE ST RLTY TR CL A 292104106 53,758 3,557,803 SH   OTR 3 3,557,803 0 0
EMPIRE ST RLTY TR CL A 292104106 30 2,000 SH   SOLE 3 2,000 0 0
EMPRESA NACIONAL DE ELCTRCID ADR 29244T101 22 500 SH   SOLE 3 500 0 0
EMPRESA NACIONAL DE ELCTRCID ADR 29244T101 155 3,600 SH   SOLE 3 3,600 0 0
ENERGEN COM 29265N108 170 2,100 SH   SOLE 3 2,100 0 0
ENERGIZER HLDGS COM 29266R108 191 1,900 SH   SOLE 3 1,900 0 0
ENERNOC COM 292764107 140 6,300 SH   SOLE 3 6,300 0 0
ENERSIS S A ADR 29274F104 26 1,700 SH   SOLE 3 1,700 0 0
ENERSYS NOTE 3.375% 6/0 29275YAA0 38,326 22,011,000 PRN   DFND 4,1,2 22,011,000 0 0
ENSCO PLC CLASS A G3157S106 338 6,400 SH   SOLE 3 6,400 0 0
ENTERGY CORP COM 29364G103 328 4,900 SH   SOLE 3 4,900 0 0
EOG RES COM 26875P101 39 400 SH   OTR 3 400 0 0
EOG RES COM 26875P101 736 7,500 SH   SOLE 3 7,500 0 0
EPR PPTYS CONV PFD 9% SR E 26884U307 46 1,500 SH   OTR 3 0 0 0
EQT COM 26884L109 388 4,000 SH   SOLE 3 4,000 0 0
EQUIFAX COM 294429105 190 2,800 SH   SOLE 3 2,800 0 0
EQUINIX COM NEW 29444U502 259 1,400 SH   SOLE 3 1,400 0 0
EQUITY COM 294752100 36 1,600 SH   SOLE 3 1,600 0 0
EQUITY LIFESTYLE PPTYS COM 29472R108 81 2,000 SH   SOLE 3 2,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 657,903 11,345,103 SH   OTR 3 11,345,103 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,067 18,400 SH   SOLE 3 18,400 0 0
ESSEX PPTY TR COM 297178105 99,909 587,530 SH   OTR 3 587,530 0 0
ESSEX PPTY TR COM 297178105 170 1,000 SH   SOLE 3 1,000 0 0
EVEREST RE GROUP COM G3223R108 214 1,400 SH   SOLE 3 1,400 0 0
EXCEL TR COM 30068C109 16 1,300 SH   SOLE 3 1,300 0 0
EXELON COM 30161N101 773 23,026 SH   SOLE 3 23,026 0 0
EXPEDIA INC COM NEW 30212P303 201 2,775 SH   SOLE 3 2,775 0 0
EXPEDITORS INTL WASH COM 302130109 226 5,700 SH   SOLE 3 5,700 0 0
EXPRESS SCRIPTS HLDG COM 30219G108 1,625 21,645 SH   SOLE 3 21,645 0 0
EXTERRAN HLDGS INC NOTE 4.250% 6/1 30225XAA1 9,525 5,000,000 PRN   DFND 4,1,2 5,000,000 0 0
EXTRA SPACE STORAGE COM 30225T102 213,850 4,408,369 SH   OTR 3 4,408,369 0 0
EXTRA SPACE STORAGE COM 30225T102 155 3,200 SH   SOLE 3 3,200 0 0
EXXON MOBIL COM 30231G102 580 5,934 SH   OTR 3 5,934 0 0
EXXON MOBIL COM 30231G102 11,778 120,581 SH   SOLE 3 120,581 0 0
F M C COM NEW 302491303 314 4,100 SH   SOLE 3 4,100 0 0
F5 NETWORKS COM 315616102 309 2,900 SH   SOLE 3 2,900 0 0
FACEBOOK CL A 30303M102 859 14,262 SH   SOLE   14,262 0 0
FACEBOOK CL A 30303M102 3,000 49,800 SH   SOLE 3 49,800 0 0
FAMILY DLR STORES COM 307000109 2,518 43,400 SH   OTR 3 43,400 0 0
FAMILY DLR STORES COM 307000109 174 3,000 SH   SOLE 3 3,000 0 0
FASTENAL COM 311900104 370 7,500 SH   SOLE 3 7,500 0 0
FEDEX COM 31428X106 6,389 48,200 SH   OTR 3 48,200 0 0
FEDEX COM 31428X106 1,100 8,300 SH   SOLE 3 8,300 0 0
FELCOR LODGING TR COM 31430F101 28 3,100 SH   SOLE 3 3,100 0 0
FIBRIA CELULOSE S A SP ADR COM 31573A109 11 1,000 SH   SOLE 3 1,000 0 0
FIBRIA CELULOSE S A SP ADR COM 31573A109 2,139 193,400 SH   SOLE 3 193,400 0 0
FIDELITY NATIONAL CL A 31620R105 212 6,738 SH   SOLE 3 6,738 0 0
FIDELITY NATL INFORMATION COM 31620M106 8,008 149,829 SH   SOLE 3 149,829 0 0
FIFTH THIRD COM 316773100 10,596 461,600 SH   SOLE 3 461,600 0 0
FIREEYE COM 31816Q101 92 1,500 SH   DFND 1,2 1,500 0 0
FIRST INDUSTRIAL REALTY COM 32054K103 104,824 5,425,669 SH   OTR 3 5,425,669 0 0
FIRST INDUSTRIAL REALTY COM 32054K103 48 2,500 SH   SOLE 3 2,500 0 0
FIRST POTOMAC RLTY COM 33610F109 21 1,600 SH   SOLE 3 1,600 0 0
FIRST SOLAR COM 336433107 363 5,200 SH   SOLE 3 5,200 0 0
FIRSTENERGY COM 337932107 365 10,735 SH   SOLE 3 10,735 0 0
FISERV COM 337738108 414 7,300 SH   SOLE 3 7,300 0 0
FLEETCOR TECHNOLOGIES COM 339041105 230 2,000 SH   SOLE 3 2,000 0 0
FLEXTRONICS INTL ORD Y2573F102 172 18,600 SH   SOLE 3 18,600 0 0
FLIR SYS COM 302445101 166 4,600 SH   SOLE 3 4,600 0 0
FLOWSERVE COM 34354P105 321 4,100 SH   SOLE 3 4,100 0 0
FLUOR CORP COM 343412102 350 4,500 SH   SOLE 3 4,500 0 0
FMC TECHNOLOGIES COM 30249U101 345 6,600 SH   SOLE 3 6,600 0 0
FOREST LABS COM 345838106 591 6,400 SH   SOLE 3 6,400 0 0
FOSSIL GROUP COM 34988V106 175 1,500 SH   SOLE 3 1,500 0 0
FRANKLIN RES COM 354613101 8,810 162,600 SH   OTR 3 162,600 0 0
FRANKLIN RES COM 354613101 596 11,000 SH   SOLE 3 11,000 0 0
FRANKLIN STREET PPTYS COM 35471R106 29 2,300 SH   SOLE 3 2,300 0 0
FREEPORT-MCMORAN COPPER & COM 35671D857 946 28,608 SH   SOLE 3 28,608 0 0
FRONTIER COMMUNICATIONS COM 35906A108 193 33,763 SH   SOLE 3 33,763 0 0
GAMESTOP CORP CL A 36467W109 152 3,700 SH   SOLE 3 3,700 0 0
GAP INC COM 364760108 260 6,500 SH   SOLE 3 6,500 0 0
GARMIN SHS H2906T109 188 3,400 SH   SOLE 3 3,400 0 0
GENERAL DYNAMICS COM 369550108 87 800 SH   OTR 3 800 0 0
GENERAL DYNAMICS COM 369550108 1,133 10,400 SH   SOLE 3 10,400 0 0
GENERAL ELECTRIC COM 369604103 412 15,900 SH   OTR 3 15,900 0 0
GENERAL ELECTRIC COM 369604103 15,055 581,500 SH   SOLE 3 581,500 0 0
GENERAL GROWTH PPTYS INC COM 370023103 16,377 744,392 SH   OTR 3 744,392 0 0
GENERAL GROWTH PPTYS INC COM 370023103 673 30,578 SH   SOLE 3 30,578 0 0
GENERAL MLS COM 370334104 886 17,100 SH   SOLE 3 17,100 0 0
GENERAL MTRS COM 37045V100 10,629 308,800 SH   OTR 3 308,800 0 0
GENERAL MTRS COM 37045V100 219 6,390 SH   SOLE   6,390 0 0
GENERAL MTRS COM 37045V100 1,119 32,500 SH   SOLE 3 32,500 0 0
GENUINE PARTS COM 372460105 391 4,500 SH   SOLE 3 4,500 0 0
GEO GROUP COM 36159R103 58 1,800 SH   SOLE 3 1,800 0 0
GETTY RLTY CORP COM 374297109 13 700 SH   SOLE 3 700 0 0
GILEAD SCIENCES COM 375558103 3,075 43,400 SH   SOLE 3 43,400 0 0
GLADSTONE COML COM 376536108 7 400 SH   SOLE 3 400 0 0
GLOBAL PMTS COM 37940X102 8,817 123,987 SH   SOLE 3 123,987 0 0
GOLD FIELDS LTD NEW ADR 38059T106 19 5,100 SH   SOLE 3 5,100 0 0
GOLDMAN SACHS GROUP COM 38141G104 1,901 11,600 SH   SOLE 3 11,600 0 0
GOOGLE CL A 38259P508 9,919 8,900 SH   SOLE 3 8,900 0 0
GRAINGER W W COM 384802104 379 1,500 SH   SOLE 3 1,500 0 0
GRAMERCY PPTY TR COM 38489R100 5 1,000 SH   SOLE 3 1,000 0 0
GRUPO AEROPORTUARIO CTR NORT ADR 400501102 93 3,200 SH   SOLE 3 3,200 0 0
GRUPO TELEVISA SA SPON ADR ORD 40049J206 127 3,800 SH   SOLE 3 3,800 0 0
GRUPO TELEVISA SA SPON ADR ORD 40049J206 240 7,200 SH   SOLE 3 7,200 0 0
HALLIBURTON COM 406216101 12,850 218,200 SH   SOLE 3 218,200 0 0
HANESBRANDS COM 410345102 168 2,200 SH   OTR 3 2,200 0 0
HARLEY DAVIDSON COM 412822108 80 1,200 SH   OTR 3 1,200 0 0
HARLEY DAVIDSON COM 412822108 393 5,900 SH   SOLE 3 5,900 0 0
HARMONY GOLD MNG LTD ADR 413216300 8 2,600 SH   SOLE 3 2,600 0 0
HARRIS CORP COM 413875105 4,814 65,800 SH   SOLE 3 65,800 0 0
HARTFORD FINL SVCS GROUP COM 416515104 335 9,500 SH   OTR 3 9,500 0 0
HARTFORD FINL SVCS GROUP COM 416515104 423 12,000 SH   SOLE 3 12,000 0 0
HASBRO COM 418056107 217 3,900 SH   SOLE 3 3,900 0 0
HAWAIIAN HOLDINGS INC NOTE 5.000% 3/1 419879AD3 12,917 7,000,000 PRN   DFND 4,1,2 7,000,000 0 0
HCA HOLDINGS COM 40412C101 452 8,600 SH   SOLE 3 8,600 0 0
HCP COM 40414L109 212,777 5,485,345 SH   OTR 3 5,485,345 0 0
HCP COM 40414L109 970 25,000 SH   SOLE 3 25,000 0 0
HDFC BANK LTD ADR REPS SHS 40415F101 406 9,900 SH   SOLE 3 9,900 0 0
HEALTH CARE REIT COM 42217K106 168,710 2,830,703 SH   OTR 3 2,830,703 0 0
HEALTH CARE REIT COM 42217K106 977 16,400 SH   SOLE 3 16,400 0 0
HEALTH NET COM 42222G108 4,102 120,600 SH   OTR 3 120,600 0 0
HEALTHCARE RLTY COM 421946104 60 2,500 SH   SOLE 3 2,500 0 0
HEALTHCARE TR AMER CL A 42225P105 120,476 10,577,338 SH   OTR 3 10,577,338 0 0
HEALTHCARE TR AMER CL A 42225P105 52 4,600 SH   SOLE 3 4,600 0 0
HEALTHWAYS PUT 422245950 2 570 SH   DFND 4,1,2 570 0 0
HEALTHWAYS INC NOTE 1.500% 7/0 ADDED 422245AB6 10,799 10,000,000 PRN   DFND 4,1,2 10,000,000 0 0
HELMERICH & PAYNE COM 423452101 204 1,900 SH   OTR 3 1,900 0 0
HELMERICH & PAYNE COM 423452101 312 2,900 SH   SOLE 3 2,900 0 0
HERBALIFE PUT G4412G951 474 900 SH   DFND 4,1,2 900 0 0
HERBALIFE LTD COM SHS G4412G101 1,489 26,000 SH   DFND 4,1,2 26,000 0 0
HERBALIFE LTD COM SHS G4412G101 137 2,400 SH   SOLE 3 2,400 0 0
HERSHEY COM 427866108 438 4,200 SH   SOLE 3 4,200 0 0
HERTZ GLOBAL HOLDINGS COM 42805T105 314 11,800 SH   SOLE 3 11,800 0 0
HESS COM 42809H107 684 8,250 SH   SOLE 3 8,250 0 0
HEWLETT PACKARD COM 428236103 411 12,700 SH   OTR 3 12,700 0 0
HEWLETT PACKARD COM 428236103 9,546 295,000 SH   SOLE 3 295,000 0 0
HEXCEL CORP COM 428291108 392 9,000 SH   SOLE 3 9,000 0 0
HIGHWOODS PPTYS COM 431284108 47,027 1,224,340 SH   OTR 3 1,224,340 0 0
HIGHWOODS PPTYS COM 431284108 88 2,300 SH   SOLE 3 2,300 0 0
HOLLYFRONTIER COM 436106108 266 5,600 SH   SOLE 3 5,600 0 0
HOLOGIC COM 436440101 176 8,200 SH   SOLE 3 8,200 0 0
HOME DEPOT COM 437076102 2,999 37,900 SH   SOLE 3 37,900 0 0
HOME PROPERTIES COM 437306103 225,716 3,754,418 SH   OTR 3 3,754,418 0 0
HOME PROPERTIES COM 437306103 90 1,500 SH   SOLE 3 1,500 0 0
HOMEAWAY COM 43739Q100 2,523 67,000 SH   DFND 4,1,2 67,000 0 0
HONEYWELL INTL COM 438516106 12,912 139,200 SH   SOLE 3 139,200 0 0
HORMEL FOODS COM 440452100 177 3,600 SH   SOLE 3 3,600 0 0
HOSPIRA COM 441060100 200 4,620 SH   SOLE 3 4,620 0 0
HOST HOTELS & RESORTS COM 44107P104 455,230 22,491,580 SH   OTR 3 22,491,580 0 0
HOST HOTELS & RESORTS COM 44107P104 848 41,908 SH   SOLE 3 41,908 0 0
HUANENG PWR INTL INC SPON ADR SHS 443304100 46 1,200 SH   SOLE 3 1,200 0 0
HUDSON CITY COM 443683107 184 18,700 SH   SOLE 3 18,700 0 0
HUDSON PAC PPTYS COM 444097109 30 1,300 SH   SOLE 3 1,300 0 0
HUMANA COM 444859102 473 4,200 SH   SOLE 3 4,200 0 0
HUNT J B TRANS SVCS COM 445658107 201 2,800 SH   SOLE 3 2,800 0 0
HUNTINGTON BANCSHARES COM 446150104 205 20,600 SH   OTR 3 20,600 0 0
ICICI BK ADR 45104G104 359 8,200 SH   SOLE 3 8,200 0 0
ICICI BK ADR 45104G104 5,825 133,000 SH   SOLE 3 133,000 0 0
ICONIX BRAND GROUP COM 451055107 10,811 275,300 SH   SOLE 3 275,300 0 0
IHS CL A 451734107 182 1,500 SH   SOLE 3 1,500 0 0
ILLINOIS TOOL WKS COM 452308109 1,846 22,700 SH   OTR 3 22,700 0 0
ILLINOIS TOOL WKS COM 452308109 952 11,700 SH   SOLE 3 11,700 0 0
ILLUMINA COM 452327109 505 3,400 SH   SOLE 3 3,400 0 0
IMPERIAL HLDGS COM 452834104 115 20,000 SH   DFND 4,1,2 20,000 0 0
IMPERIAL HLDGS PUT 452834954 65 1,000 SH   DFND 4,1,2 1,000 0 0
INFOSYS LTD ADR 456788108 114 2,100 SH   SOLE 3 2,100 0 0
INFOSYS LTD ADR 456788108 2,579 47,600 SH   SOLE 3 47,600 0 0
INGERSOLL-RAND SHS G47791101 460 8,044 SH   SOLE 3 8,044 0 0
INLAND REAL ESTATE COM NEW 457461200 24 2,300 SH   SOLE 3 2,300 0 0
INTEGRYS ENERGY GROUP COM 45822P105 131 2,200 SH   SOLE 3 2,200 0 0
INTEL COM 458140100 3,960 153,400 SH   OTR 3 153,400 0 0
INTEL COM 458140100 3,438 133,200 SH   SOLE 3 133,200 0 0
INTERCONTINENTALEXCHANGE COM 45866F104 13 69 SH   DFND 1,2 69 0 0
INTERCONTINENTALEXCHANGE COM 45866F104 624 3,155 SH   SOLE 3 3,155 0 0
INTERNATIONAL COM 459506101 191 2,000 SH   SOLE 3 2,000 0 0
INTERNATIONAL BUSINESS COM 459200101 265 1,377 SH   SOLE   1,377 0 0
INTERNATIONAL BUSINESS COM 459200101 6,179 32,100 SH   SOLE 3 32,100 0 0
INTERNATIONAL GAME COM 459902102 122 8,700 SH   SOLE 3 8,700 0 0
INTERPUBLIC GROUP COS COM 460690100 177 10,300 SH   SOLE 3 10,300 0 0
INTL PAPER COM 460146103 629 13,700 SH   SOLE 3 13,700 0 0
INTUIT COM 461202103 567 7,300 SH   SOLE 3 7,300 0 0
INTUITIVE SURGICAL COM NEW 46120E602 482 1,100 SH   SOLE 3 1,100 0 0
INVESCO SHS G491BT108 446 12,050 SH   SOLE 3 12,050 0 0
IRON MTN COM 462846106 134 4,877 SH   SOLE 3 4,877 0 0
ITC HLDGS COM 465685105 235 6,300 SH   SOLE 3 6,300 0 0
ITRON COM 465741106 1,567 44,100 SH   OTR 3 44,100 0 0
JACOBS ENGR GROUP INC COM 469814107 248 3,900 SH   SOLE 3 3,900 0 0
JAMES RIVER COAL PUT 470355957 25 3,335 SH   DFND 4,1,2 3,335 0 0
JAMES RIVER COAL CO NOTE 10.000% 6/0 470355AK4 692 4,074,000 PRN   DFND 4,1,2 4,074,000 0 0
JETBLUE AIRWAYS CORP DBCV 6.750%10/1 477143AF8 27,123 14,995,000 PRN   DFND 4,1,2 14,995,000 0 0
JOHNSON & COM 478160104 216 2,200 SH   OTR 3 2,200 0 0
JOHNSON & COM 478160104 7,711 78,500 SH   SOLE 3 78,500 0 0
JOHNSON CTLS COM 478366107 913 19,300 SH   SOLE 3 19,300 0 0
JOY GLOBAL COM 481165108 180 3,100 SH   SOLE 3 3,100 0 0
JPMORGAN CHASE & COM 46625H100 5,027 82,800 SH   OTR 3 82,800 0 0
JPMORGAN CHASE & COM 46625H100 14,918 245,720 SH   SOLE 3 245,720 0 0
JUNIPER NETWORKS COM 48203R104 412 16,000 SH   SOLE 3 16,000 0 0
KANSAS CITY COM NEW 485170302 337 3,300 SH   SOLE 3 3,300 0 0
KB FINANCIAL GROUP INC ADR 48241A105 260 7,400 SH   SOLE 3 7,400 0 0
KBR COM 48242W106 123 4,600 SH   SOLE 3 4,600 0 0
KELLOGG COM 487836108 420 6,700 SH   SOLE 3 6,700 0 0
KEURIG GREEN MTN COM 49271M100 348 3,300 SH   SOLE 3 3,300 0 0
KEYCORP COM 493267108 347 24,400 SH   SOLE 3 24,400 0 0
KILROY RLTY COM 49427F108 216,629 3,698,002 SH   OTR 3 3,698,002 0 0
KILROY RLTY COM 49427F108 146 2,500 SH   SOLE 3 2,500 0 0
KIMBERLY CLARK COM 494368103 1,158 10,500 SH   SOLE 3 10,500 0 0
KIMCO RLTY COM 49446R109 289,736 13,242,058 SH   OTR 3 13,242,058 0 0
KIMCO RLTY COM 49446R109 508 23,200 SH   SOLE 3 23,200 0 0
KINDER MORGAN INC COM 49456B101 595 18,300 SH   SOLE 3 18,300 0 0
KINDER MORGAN MANAGEMENT SHS 49455U100 182 2,539 SH   SOLE 3 2,539 0 0
KITE RLTY GROUP COM 49803T102 20 3,300 SH   SOLE 3 3,300 0 0
KLA-TENCOR COM 482480100 339 4,900 SH   SOLE 3 4,900 0 0
KODIAK OIL & GAS COM 50015Q100 243 20,000 SH   SOLE 3 20,000 0 0
KOHLS COM 500255104 318 5,600 SH   SOLE 3 5,600 0 0
KOREA ELECTRIC PWR ADR 500631106 129 7,500 SH   SOLE 3 7,500 0 0
KRAFT FOODS GROUP COM 50076Q106 926 16,503 SH   SOLE 3 16,503 0 0
KROGER COM 501044101 607 13,900 SH   SOLE 3 13,900 0 0
KT CORP ADR 48268K101 13 900 SH   SOLE 3 900 0 0
L BRANDS COM 501797104 369 6,500 SH   SOLE 3 6,500 0 0
L-3 COMMUNICATIONS HLDGS COM 502424104 177 1,500 SH   OTR 3 1,500 0 0
L-3 COMMUNICATIONS HLDGS COM 502424104 307 2,600 SH   SOLE 3 2,600 0 0
LABORATORY CORP AMER COM NEW 50540R409 2,887 29,400 SH   OTR 3 29,400 0 0
LABORATORY CORP AMER COM NEW 50540R409 226 2,300 SH   SOLE 3 2,300 0 0
LAM RESEARCH COM 512807108 275 5,000 SH   SOLE 3 5,000 0 0
LAS VEGAS SANDS COM 517834107 137 1,700 SH   OTR 3 1,700 0 0
LAS VEGAS SANDS COM 517834107 5,146 63,700 SH   SOLE 3 63,700 0 0
LATAM AIRLS GROUP S A ADR 51817R106 42 2,800 SH   SOLE 3 2,800 0 0
LATAM AIRLS GROUP S A ADR 51817R106 110 7,287 SH   SOLE 3 7,287 0 0
LAUDER ESTEE COS CL A 518439104 441 6,600 SH   SOLE 3 6,600 0 0
LEAPFROG ENTERPRISES CL A 52186N106 154 20,549 SH   DFND 4,1,2 20,549 0 0
LEGG MASON COM 524901105 204 4,150 SH   SOLE 3 4,150 0 0
LEGGETT & PLATT COM 524660107 163 5,000 SH   SOLE 3 5,000 0 0
LEIDOS HLDGS COM 525327102 107 3,025 SH   SOLE 3 3,025 0 0
LENNAR CL A 526057104 155 3,900 SH   SOLE 3 3,900 0 0
LEUCADIA NATL COM 527288104 238 8,500 SH   SOLE 3 8,500 0 0
LEVEL 3 COMMUNICATIONS COM NEW 52729N308 168 4,300 SH   SOLE 3 4,300 0 0
LEXINGTON REALTY COM 529043101 57 5,246 SH   SOLE 3 5,246 0 0
LIBERTY GLOBAL PLC CL A G5480U104 246 5,903 SH   SOLE 3 5,903 0 0
LIBERTY MEDIA CORP CL A 531229102 379 2,900 SH   SOLE 3 2,900 0 0
LILLY ELI & COM 532457108 1,601 27,200 SH   SOLE 3 27,200 0 0
LINCOLN NATL CORP COM 534187109 367 7,249 SH   SOLE 3 7,249 0 0
LINEAR TECHNOLOGY COM 535678106 321 6,600 SH   SOLE 3 6,600 0 0
LINKEDIN CORP CL A 53578A108 518 2,800 SH   SOLE 3 2,800 0 0
LIVE NATION ENTERTAINMENT COM 538034109 3,295 151,500 SH   OTR 3 151,500 0 0
LKQ COM 501889208 179 6,800 SH   SOLE 3 6,800 0 0
LOCKHEED MARTIN COM 539830109 1,224 7,500 SH   SOLE 3 7,500 0 0
LOEWS COM 540424108 410 9,300 SH   SOLE 3 9,300 0 0
LORILLARD COM 544147101 3,656 67,600 SH   SOLE 3 67,600 0 0
LOWES COS COM 548661107 11,599 237,200 SH   SOLE 3 237,200 0 0
LSI COM 502161102 146 13,200 SH   SOLE 3 13,200 0 0
LTC PPTYS COM 502175102 34 900 SH   SOLE 3 900 0 0
LULULEMON ATHLETICA COM 550021109 158 3,000 SH   SOLE 3 3,000 0 0
M & T BK COM 55261F104 412 3,400 SH   SOLE 3 3,400 0 0
MACERICH COM 554382101 322,308 5,171,000 SH   OTR 3 5,171,000 0 0
MACERICH COM 554382101 501 8,045 SH   SOLE 3 8,045 0 0
MACK CALI RLTY COM 554489104 76,448 3,677,159 SH   OTR 3 3,677,159 0 0
MACK CALI RLTY COM 554489104 48 2,300 SH   SOLE 3 2,300 0 0
MACYS COM 55616P104 13,002 219,298 SH   SOLE 3 219,298 0 0
MANPOWERGROUP COM 56418H100 977 12,400 SH   SOLE 3 12,400 0 0
MARATHON OIL COM 565849106 323 9,120 SH   DFND 4,1,2 9,120 0 0
MARATHON OIL COM 565849106 654 18,400 SH   SOLE 3 18,400 0 0
MARATHON PETE COM 56585A102 122 1,400 SH   OTR 3 1,400 0 0
MARATHON PETE COM 56585A102 7,237 83,150 SH   SOLE 3 83,150 0 0
MARRIOTT INTL INC CL A 571903202 15,300 273,117 SH   SOLE 3 273,117 0 0
MARSH & MCLENNAN COS COM 571748102 740 15,000 SH   SOLE 3 15,000 0 0
MARTIN MARIETTA MATLS COM 573284106 167 1,300 SH   SOLE 3 1,300 0 0
MARVELL TECHNOLOGY GROUP ORD G5876H105 197 12,500 SH   SOLE 3 12,500 0 0
MASCO COM 574599106 224 10,100 SH   SOLE 3 10,100 0 0
MASTEC COM 576323109 321 7,400 SH   SOLE 3 7,400 0 0
MASTERCARD CL A 57636Q104 6,970 93,300 SH   OTR 3 93,300 0 0
MASTERCARD CL A 57636Q104 2,114 28,300 SH   SOLE 3 28,300 0 0
MATTEL COM 577081102 369 9,200 SH   SOLE 3 9,200 0 0
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MCDONALDS COM 580135101 206 2,097 SH   OTR 3 2,097 0 0
MCDONALDS COM 580135101 2,637 26,900 SH   SOLE 3 26,900 0 0
MCGRAW HILL FINL COM 580645109 3,327 43,600 SH   SOLE 3 43,600 0 0
MCKESSON COM 58155Q103 1,165 6,600 SH   SOLE 3 6,600 0 0
MDU RES GROUP COM 552690109 216 6,300 SH   SOLE 3 6,300 0 0
MEAD JOHNSON NUTRITION COM 582839106 474 5,700 SH   SOLE 3 5,700 0 0
MEADWESTVACO COM 583334107 199 5,300 SH   SOLE 3 5,300 0 0
MEDICAL PPTYS TRUST COM 58463J304 56 4,400 SH   SOLE 3 4,400 0 0
MEDTRONIC COM 585055106 1,674 27,200 SH   SOLE 3 27,200 0 0
MEDTRONIC CALL 585055906 116 1,000 SH   DFND 4,1,2 1,000 0 0
MERCK & CO INC COM 58933Y105 4,545 80,058 SH   SOLE 3 80,058 0 0
METLIFE COM 59156R108 1,484 28,100 SH   SOLE 3 28,100 0 0
METTLER TOLEDO COM 592688105 165 700 SH   SOLE 3 700 0 0
MGM RESORTS COM 552953101 253 9,800 SH   SOLE 3 9,800 0 0
MICHAEL KORS HLDGS SHS G60754101 476 5,100 SH   SOLE 3 5,100 0 0
MICROCHIP TECHNOLOGY COM 595017104 430 9,000 SH   SOLE 3 9,000 0 0
MICROCHIP TECHNOLOGY INC SDCV 2.125%12/1 595017AB0 50,788 27,346,000 PRN   DFND 4,1,2 27,346,000 0 0
MICRON TECHNOLOGY COM 595112103 681 28,800 SH   SOLE 3 28,800 0 0
MICROSOFT COM 594918104 361 8,800 SH   OTR 3 8,800 0 0
MICROSOFT COM 594918104 8,866 216,300 SH   SOLE 3 216,300 0 0
MID-AMER APT CMNTYS COM 59522J103 127 1,856 SH   SOLE 3 1,856 0 0
MOBILE TELESYSTEMS OJSC ADR 607409109 2,186 125,000 SH   OTR 3 125,000 0 0
MOBILE TELESYSTEMS OJSC ADR 607409109 140 8,010 SH   SOLE 3 8,010 0 0
MODUSLINK GLOBAL SOLUTIONS PUT 60786L957 2 30 SH   DFND 4,1,2 30 0 0
MODUSLINK GLOBAL SOLUTIONS PUT 60786L957 2 500 SH   DFND 4,1,2 500 0 0
MOHAWK INDS COM 608190104 292 2,150 SH   SOLE 3 2,150 0 0
MOLYCORP INC COM 608753109 879 187,500 SH   DFND 4,1,2 187,500 0 0
MONDELEZ INTL CL A 609207105 1,631 47,211 SH   SOLE 3 47,211 0 0
MONMOUTH REAL ESTATE INVT CL A 609720107 10 1,100 SH   SOLE 3 1,100 0 0
MONSANTO CO COM 61166W101 171 1,500 SH   OTR 3 1,500 0 0
MONSANTO CO COM 61166W101 1,616 14,206 SH   SOLE 3 14,206 0 0
MONSTER BEVERAGE COM 611740101 299 4,300 SH   SOLE 3 4,300 0 0
MOODYS COM 615369105 3,641 45,900 SH   SOLE 3 45,900 0 0
MORGAN COM NEW 617446448 243 7,800 SH   OTR 3 7,800 0 0
MORGAN COM NEW 617446448 1,286 41,270 SH   SOLE 3 41,270 0 0
MOSAIC CO COM 61945C103 415 8,300 SH   SOLE 3 8,300 0 0
MOTOROLA SOLUTIONS COM NEW 620076307 5,620 87,413 SH   SOLE 3 87,413 0 0
MURPHY OIL COM 626717102 295 4,700 SH   SOLE 3 4,700 0 0
MYLAN COM 628530107 3,374 69,100 SH   SOLE 3 69,100 0 0
MYRIAD GENETICS COM 62855J104 3,077 90,000 SH   SOLE 3 90,000 0 0
NABORS INDUSTRIES SHS G6359F103 187 7,600 SH   SOLE 3 7,600 0 0
NASDAQ OMX GROUP COM 631103108 159 4,300 SH   SOLE 3 4,300 0 0
NATIONAL HEALTH INVS COM 63633D104 42 700 SH   SOLE 3 700 0 0
NATIONAL OILWELL VARCO COM 637071101 8,714 111,900 SH   OTR 3 111,900 0 0
NATIONAL OILWELL VARCO COM 637071101 968 12,433 SH   SOLE 3 12,433 0 0
NATIONAL RETAIL PPTYS COM 637417106 150,372 4,381,470 SH   OTR 3 4,381,470 0 0
NATIONAL RETAIL PPTYS COM 637417106 106 3,100 SH   SOLE 3 3,100 0 0
NETAPP COM 64110D104 196 5,300 SH   OTR 3 5,300 0 0
NETAPP COM 64110D104 351 9,500 SH   SOLE 3 9,500 0 0
NETFLIX COM 64110L106 493 1,400 SH   SOLE 3 1,400 0 0
NEW YORK CMNTY BANCORP COM 649445103 190 11,800 SH   SOLE 3 11,800 0 0
NEWELL RUBBERMAID COM 651229106 263 8,800 SH   SOLE 3 8,800 0 0
NEWMONT MINING COM 651639106 40 1,700 SH   OTR 3 1,700 0 0
NEWMONT MINING COM 651639106 326 13,900 SH   SOLE 3 13,900 0 0
NEWS CORP CL A 65249B109 202 11,737 SH   SOLE 3 11,737 0 0
NEXTERA ENERGY COM 65339F101 235 2,462 SH   OTR 3 2,462 0 0
NEXTERA ENERGY COM 65339F101 4,093 42,800 SH   SOLE 3 42,800 0 0
NIELSEN HOLDINGS N COM N63218106 303 6,800 SH   SOLE 3 6,800 0 0
NISOURCE COM 65473P105 316 8,900 SH   SOLE 3 8,900 0 0
NOBLE ENERGY COM 655044105 3,950 55,600 SH   SOLE 3 55,600 0 0
NORDSTROM COM 655664100 262 4,200 SH   SOLE 3 4,200 0 0
NORFOLK SOUTHERN COM 655844108 175 1,800 SH   OTR 3 1,800 0 0
NORFOLK SOUTHERN COM 655844108 826 8,500 SH   SOLE 3 8,500 0 0
NORTHEAST COM 664397106 395 8,680 SH   SOLE 3 8,680 0 0
NORTHERN TR COM 665859104 413 6,300 SH   SOLE 3 6,300 0 0
NORTHROP GRUMMAN COM 666807102 18,902 153,200 SH   SOLE 3 153,200 0 0
NRG ENERGY COM NEW 629377508 280 8,800 SH   SOLE 3 8,800 0 0
NRG YIELD INC CL A 62942X108 273 6,900 SH   SOLE 3 6,900 0 0
NUANCE COMMUNICATIONS COM 67020Y100 139 8,100 SH   SOLE 3 8,100 0 0
NUCOR COM 670346105 445 8,800 SH   SOLE 3 8,800 0 0
NVIDIA COM 67066G104 81 4,500 SH   OTR 3 4,500 0 0
NVIDIA COM 67066G104 275 15,350 SH   SOLE 3 15,350 0 0
O REILLY AUTOMOTIVE INC COM 67103H107 445 3,000 SH   SOLE 3 3,000 0 0
OCCIDENTAL PETE CORP COM 674599105 162 1,700 SH   OTR 3 1,700 0 0
OCCIDENTAL PETE CORP COM 674599105 2,087 21,900 SH   SOLE 3 21,900 0 0
OCEANEERING INTL COM 675232102 180 2,500 SH   SOLE 3 2,500 0 0
OCWEN FINL COM NEW 675746309 98 2,500 SH   SOLE 3 2,500 0 0
OGE ENERGY COM 670837103 173 4,700 SH   SOLE 3 4,700 0 0
OMEGA HEALTHCARE INVS COM 681936100 162,751 4,855,346 SH   OTR 3 4,855,346 0 0
OMEGA HEALTHCARE INVS COM 681936100 107 3,200 SH   SOLE 3 3,200 0 0
OMNICARE COM 681904108 167 2,800 SH   SOLE 3 2,800 0 0
OMNICARE INC NOTE 3.750%12/1 681904AN8 44,911 19,624,000 PRN   DFND 4,1,2 19,624,000 0 0
OMNICOM GROUP COM 681919106 515 7,100 SH   SOLE 3 7,100 0 0
ONE LIBERTY PPTYS COM 682406103 6 300 SH   SOLE 3 300 0 0
ONEOK INC COM 682680103 344 5,800 SH   SOLE 3 5,800 0 0
ORACLE COM 68389X105 15,321 374,500 SH   OTR 3 374,500 0 0
ORACLE COM 68389X105 4,160 101,683 SH   SOLE 3 101,683 0 0
ORMAT TECHNOLOGIES COM 686688102 135 4,500 SH   SOLE 3 4,500 0 0
OSHKOSH COM 688239201 3,638 61,800 SH   SOLE 3 61,800 0 0
OWENS CORNING COM 690742101 121 2,800 SH   OTR 3 2,800 0 0
OWENS ILL COM NEW 690768403 183 5,400 SH   SOLE 3 5,400 0 0
P T TELEKOMUNIKASI INDONESIA ADR 715684106 31 800 SH   SOLE 3 800 0 0
PACCAR COM 693718108 778 11,537 SH   SOLE 3 11,537 0 0
PALL COM 696429307 304 3,400 SH   SOLE 3 3,400 0 0
PANDORA MEDIA COM 698354107 378 12,468 SH   SOLE   12,468 0 0
PAPA JOHNS INTL COM 698813102 3,090 59,300 SH   SOLE 3 59,300 0 0
PARKER HANNIFIN COM 701094104 718 6,000 SH   SOLE 3 6,000 0 0
PARKWAY PPTYS COM 70159Q104 11,909 652,537 SH   OTR 3 652,537 0 0
PARKWAY PPTYS COM 70159Q104 31 1,700 SH   SOLE 3 1,700 0 0
PARTNERRE COM G6852T105 186 1,800 SH   SOLE 3 1,800 0 0
PATTERN ENERGY GROUP CL A 70338P100 312 11,500 SH   SOLE 3 11,500 0 0
PATTERSON COMPANIES COM 703395103 134 3,200 SH   SOLE 3 3,200 0 0
PAYCHEX COM 704326107 392 9,200 SH   SOLE 3 9,200 0 0
PDL BIOPHARMA COM 69329Y104 1,701 204,719 SH   DFND 4,1,2 204,719 0 0
PDL BIOPHARMA PUT 69329Y954 15 525 SH   DFND 4,1,2 525 0 0
PEABODY ENERGY COM 704549104 157 9,600 SH   SOLE 3 9,600 0 0
PEBBLEBROOK HOTEL COM 70509V100 80,930 2,396,506 SH   OTR 3 2,396,506 0 0
PEBBLEBROOK HOTEL COM 70509V100 54 1,600 SH   SOLE 3 1,600 0 0
PENN NATL GAMING COM 707569109 869 70,500 SH   OTR 3 70,500 0 0
PENTAIR SHS H6169Q108 111 1,400 SH   OTR 3 1,400 0 0
PENTAIR SHS H6169Q108 443 5,580 SH   SOLE 3 5,580 0 0
PEOPLES UNITED FINANCIAL COM 712704105 181 12,200 SH   SOLE 3 12,200 0 0
PEPCO HOLDINGS COM 713291102 131 6,400 SH   SOLE 3 6,400 0 0
PEPSICO COM 713448108 209 2,500 SH   OTR 3 2,500 0 0
PEPSICO COM 713448108 3,506 41,985 SH   SOLE 3 41,985 0 0
PERRIGO CO SHS G97822103 77 500 SH   OTR 3 500 0 0
PERRIGO CO SHS G97822103 572 3,700 SH   SOLE 3 3,700 0 0
PETROCHINA CO LTD SPONSORED ADR 71646E100 27 251 SH   DFND 2 251 0 0
PETROCHINA CO LTD SPONSORED ADR 71646E100 109 1,000 SH   SOLE 3 1,000 0 0
PETROLEO BRASILEIRO SA PETRO ADR 71654V408 55 4,200 SH   SOLE 3 4,200 0 0
PETROLEO BRASILEIRO SA PETRO ADR 71654V408 1,475 112,200 SH   SOLE 3 112,200 0 0
PETSMART COM 716768106 207 3,000 SH   SOLE 3 3,000 0 0
PFIZER COM 717081103 327 10,183 SH   OTR 3 10,183 0 0
PFIZER COM 717081103 29,346 913,621 SH   SOLE 3 913,621 0 0
PG&E COM 69331C108 510 11,800 SH   SOLE 3 11,800 0 0
PHARMACYCLICS COM 716933106 180 1,800 SH   SOLE 3 1,800 0 0
PHILIP MORRIS INTL COM 718172109 125 1,528 SH   OTR 3 1,528 0 0
PHILIP MORRIS INTL COM 718172109 3,545 43,300 SH   SOLE 3 43,300 0 0
PHILIPPINE LONG DISTANCE TEL ADR 718252604 561 9,200 SH   SOLE 3 9,200 0 0
PHILLIPS COM 718546104 4,196 54,450 SH   SOLE 3 54,450 0 0
PHYSICIANS RLTY COM 71943U104 6 400 SH   SOLE 3 400 0 0
PIEDMONT OFFICE REALTY TR IN CL A 720190206 69 4,000 SH   SOLE 3 4,000 0 0
PINNACLE WEST CAP COM 723484101 148 2,700 SH   SOLE 3 2,700 0 0
PIONEER NAT RES COM 723787107 730 3,900 SH   SOLE 3 3,900 0 0
PLANTRONICS INC COM 727493108 301 6,788 SH   DFND 4,1,2 6,788 0 0
PLUM CREEK TIMBER CO COM 729251108 214 5,100 SH   SOLE 3 5,100 0 0
PNC FINL SVCS GROUP COM 693475105 1,261 14,496 SH   SOLE 3 14,496 0 0
POLARIS INDS COM 731068102 210 1,500 SH   SOLE 3 1,500 0 0
POSCO ADR 693483109 347 5,000 SH   SOLE 3 5,000 0 0
POST PPTYS COM 737464107 69 1,400 SH   SOLE 3 1,400 0 0
PPG INDS COM 693506107 1,432 7,400 SH   SOLE 3 7,400 0 0
PPL COM 69351T106 590 17,800 SH   SOLE 3 17,800 0 0
PRAXAIR COM 74005P104 1,729 13,200 SH   SOLE 3 13,200 0 0
PRECISION CASTPARTS COM 740189105 1,163 4,600 SH   SOLE 3 4,600 0 0
PRICE T ROWE GROUP COM 74144T108 609 7,400 SH   SOLE 3 7,400 0 0
PRICELINE COM COM NEW 741503403 1,824 1,530 SH   SOLE 3 1,530 0 0
PRINCIPAL FINL GROUP COM 74251V102 5,712 124,200 SH   SOLE 3 124,200 0 0
PROCTER & GAMBLE COM 742718109 89 1,100 SH   OTR 3 1,100 0 0
PROCTER & GAMBLE COM 742718109 5,943 73,737 SH   SOLE 3 73,737 0 0
PROGRESSIVE CORP COM 743315103 392 16,200 SH   SOLE 3 16,200 0 0
PROLOGIS COM 74340W103 657,515 16,103,730 SH   OTR 3 16,103,730 0 0
PROLOGIS COM 74340W103 1,147 28,084 SH   SOLE 3 28,084 0 0
PROLOGIS NOTE 3.250% 3/1 743410AY8 2,895 2,497,000 PRN   DFND 4,1,2 2,497,000 0 0
PRUDENTIAL FINL COM 744320102 322 3,800 SH   OTR 3 3,800 0 0
PRUDENTIAL FINL COM 744320102 10,886 128,600 SH   SOLE 3 128,600 0 0
PS BUSINESS PKS INC COM 69360J107 42 500 SH   SOLE 3 500 0 0
PUBLIC COM 74460D109 540,255 3,206,450 SH   OTR 3 3,206,450 0 0
PUBLIC COM 74460D109 1,382 8,200 SH   SOLE 3 8,200 0 0
PUBLIC SVC ENTERPRISE COM 744573106 515 13,500 SH   SOLE 3 13,500 0 0
PULTE GROUP COM 745867101 157 8,200 SH   SOLE 3 8,200 0 0
PVH COM 693656100 299 2,400 SH   SOLE 3 2,400 0 0
QEP RES COM 74733V100 150 5,100 SH   SOLE 3 5,100 0 0
QTS RLTY TR INC CL A 74736A103 10 400 SH   SOLE 3 400 0 0
QUALCOMM COM 747525103 197 2,500 SH   OTR 3 2,500 0 0
QUALCOMM COM 747525103 4,479 56,800 SH   SOLE 3 56,800 0 0
QUANTA SVCS COM 74762E102 520 14,100 SH   SOLE 3 14,100 0 0
QUEST DIAGNOSTICS COM 74834L100 220 3,800 SH   SOLE 3 3,800 0 0
RACKSPACE HOSTING COM 750086100 108 3,300 SH   SOLE 3 3,300 0 0
RALPH LAUREN CL A 751212101 3,106 19,300 SH   OTR 3 19,300 0 0
RALPH LAUREN CL A 751212101 274 1,700 SH   SOLE 3 1,700 0 0
RANGE RES COM 75281A109 357 4,300 SH   SOLE 3 4,300 0 0
RAYMOND JAMES FINANCIAL COM 754730109 168 3,000 SH   SOLE 3 3,000 0 0
RAYONIER COM 754907103 138 3,000 SH   SOLE 3 3,000 0 0
RAYTHEON COM NEW 755111507 7,508 76,000 SH   SOLE 3 76,000 0 0
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REALTY INCOME COM 756109104 185,168 4,531,765 SH   OTR 3 4,531,765 0 0
REALTY INCOME COM 756109104 427 10,450 SH   SOLE 3 10,450 0 0
RED HAT COM 756577102 286 5,400 SH   SOLE 3 5,400 0 0
REGENCY CTRS COM 758849103 268,644 5,261,338 SH   OTR 3 5,261,338 0 0
REGENCY CTRS COM 758849103 332 6,500 SH   SOLE 3 6,500 0 0
REGENERON COM 75886F107 661 2,200 SH   SOLE 3 2,200 0 0
REGIONS FINL CORP COM 7591EP100 427 38,435 SH   SOLE 3 38,435 0 0
RENAISSANCERE HOLDINGS COM G7496G103 127 1,300 SH   SOLE 3 1,300 0 0
REPUBLIC SVCS COM 760759100 167 4,900 SH   OTR 3 4,900 0 0
REPUBLIC SVCS COM 760759100 280 8,200 SH   SOLE 3 8,200 0 0
RESMED COM 761152107 161 3,600 SH   SOLE 3 3,600 0 0
RETAIL OPPORTUNITY INVTS COM 76131N101 25 1,700 SH   SOLE 3 1,700 0 0
RETAIL PPTYS AMER CL A 76131V202 98,291 7,259,333 SH   OTR 3 7,259,333 0 0
RETAIL PPTYS AMER CL A 76131V202 66 4,900 SH   SOLE 3 4,900 0 0
REXFORD INDL RLTY COM 76169C100 2,090 147,413 SH   OTR 3 147,413 0 0
REXFORD INDL RLTY COM 76169C100 6 400 SH   SOLE 3 400 0 0
REYNOLDS AMERICAN COM 761713106 459 8,600 SH   SOLE 3 8,600 0 0
RLJ LODGING COM 74965L101 122,355 4,575,742 SH   OTR 3 4,575,742 0 0
RLJ LODGING COM 74965L101 83 3,100 SH   SOLE 3 3,100 0 0
ROBERT HALF INTL COM 770323103 185 4,400 SH   SOLE 3 4,400 0 0
ROCK-TENN CL A 772739207 232 2,200 SH   SOLE 3 2,200 0 0
ROCKWELL AUTOMATION COM 773903109 650 5,220 SH   SOLE 3 5,220 0 0
ROCKWELL COLLINS COM 774341101 287 3,600 SH   SOLE 3 3,600 0 0
ROCKWOOD HLDGS COM 774415103 335 4,500 SH   SOLE 3 4,500 0 0
ROPER INDS INC COM 776696106 387 2,900 SH   SOLE 3 2,900 0 0
ROSS STORES COM 778296103 122 1,700 SH   OTR 3 1,700 0 0
ROSS STORES COM 778296103 415 5,800 SH   SOLE 3 5,800 0 0
ROUSE PPTYS COM 779287101 12 707 SH   SOLE 3 707 0 0
ROWAN COMPANIES PLC CL A G7665A101 172 5,100 SH   SOLE 3 5,100 0 0
ROYAL CARIBBEAN CRUISES COM V7780T103 218 4,000 SH   SOLE 3 4,000 0 0
RTI INTL METALS COM 74973W107 217 7,800 SH   SOLE 3 7,800 0 0
RYMAN HOSPITALITY PPTYS COM 78377T107 55 1,300 SH   SOLE 3 1,300 0 0
SABRA HEALTH CARE REIT COM 78573L106 25 900 SH   SOLE 3 900 0 0
SAFEWAY COM NEW 786514208 240 6,500 SH   SOLE 3 6,500 0 0
SALESFORCE COM COM 79466L302 279 4,900 SH   SOLE   4,900 0 0
SALESFORCE COM COM 79466L302 896 15,700 SH   SOLE 3 15,700 0 0
SANDISK COM 80004C101 170 2,100 SH   OTR 3 2,100 0 0
SANDISK COM 80004C101 3,889 47,900 SH   SOLE 3 47,900 0 0
SASOL LTD ADR 803866300 106 1,900 SH   SOLE 3 1,900 0 0
SAUL CTRS COM 804395101 14 300 SH   SOLE 3 300 0 0
SBA COMMUNICATIONS COM 78388J106 327 3,600 SH   SOLE 3 3,600 0 0
SCANA CORP COM 80589M102 159 3,100 SH   SOLE 3 3,100 0 0
SCHEIN HENRY COM 806407102 298 2,500 SH   SOLE 3 2,500 0 0
SCHLUMBERGER COM 806857108 80 825 SH   OTR 3 825 0 0
SCHLUMBERGER COM 806857108 3,482 35,717 SH   SOLE 3 35,717 0 0
SCHWAB CHARLES CORP COM 808513105 883 32,300 SH   SOLE 3 32,300 0 0
SCRIPPS NETWORKS INTERACT IN CL COM 811065101 190 2,500 SH   SOLE 3 2,500 0 0
SEAGATE TECHNOLOGY SHS G7945M107 489 8,700 SH   SOLE 3 8,700 0 0
SEALED AIR CORP COM 81211K100 145 4,400 SH   SOLE 3 4,400 0 0
SEARS HLDGS COM 812350106 78 1,625 SH   SOLE 3 1,625 0 0
SEI INVESTMENTS COM 784117103 138 4,100 SH   SOLE 3 4,100 0 0
SEMPRA COM 816851109 3,435 35,500 SH   SOLE 3 35,500 0 0
SENSATA TECHNOLOGIES HLDG SHS N7902X106 136 3,200 SH   SOLE 3 3,200 0 0
SERVICENOW COM 81762P102 222 3,700 SH   SOLE 3 3,700 0 0
SHERWIN WILLIAMS COM 824348106 453 2,300 SH   SOLE 3 2,300 0 0
SHINHAN FINANCIAL GROUP CO L SPN ADR RESTRD 824596100 360 8,200 SH   SOLE 3 8,200 0 0
SIGMA ALDRICH COM 826552101 336 3,600 SH   SOLE 3 3,600 0 0
SILVER BAY RLTY TR COM 82735Q102 14 900 SH   SOLE 3 900 0 0
SIMON PPTY GROUP INC COM 828806109 1,442,734 8,797,158 SH   OTR 3 8,797,158 0 0
SIMON PPTY GROUP INC COM 828806109 2,806 17,111 SH   SOLE 3 17,111 0 0
SIRIUS XM HLDGS COM 82968B103 287 89,700 SH   SOLE 3 89,700 0 0
SIX FLAGS ENTMT CORP COM 83001A102 7,384 183,900 SH   SOLE 3 183,900 0 0
SK TELECOM LTD ADR 78440P108 29 1,300 SH   SOLE 3 1,300 0 0
SL GREEN RLTY COM 78440X101 422,026 4,194,252 SH   OTR 3 4,194,252 0 0
SL GREEN RLTY COM 78440X101 493 4,900 SH   SOLE 3 4,900 0 0
SLM COM 78442P106 4,698 191,900 SH   SOLE 3 191,900 0 0
SMUCKER J M COM NEW 832696405 301 3,100 SH   SOLE 3 3,100 0 0
SOLARCITY COM 83416T100 187 3,000 SH   DFND 1,2 3,000 0 0
SOLAZYME COM 83415T101 130 11,200 SH   SOLE 3 11,200 0 0
SOLAZYME PUT 83415T951 59 500 SH   DFND 4,1,2 500 0 0
SOUTHERN COM 842587107 1,046 23,800 SH   SOLE 3 23,800 0 0
SOUTHWEST AIRLS COM 844741108 142 6,000 SH   SOLE 3 6,000 0 0
SOUTHWESTERN ENERGY COM 845467109 442 9,600 SH   SOLE 3 9,600 0 0
SOVRAN SELF STORAGE COM 84610H108 66 900 SH   SOLE 3 900 0 0
SPDR GOLD TRUST SHS 78463V107 494 4,000 SH   SOLE 3 4,000 0 0
SPDR S&P 500 ETF PUT 78462F953 87 250 SH   DFND 4,1,2 250 0 0
SPECTRA ENERGY COM 847560109 687 18,596 SH   SOLE 3 18,596 0 0
SPIRIT AIRLS COM 848577102 546 9,200 SH   SOLE 3 9,200 0 0
SPIRIT RLTY CAP INC COM 84860W102 101 9,200 SH   SOLE 3 9,200 0 0
SPX COM 784635104 147 1,500 SH   SOLE 3 1,500 0 0
ST JUDE MED COM 790849103 6,814 104,200 SH   SOLE 3 104,200 0 0
STAG INDL COM 85254J102 2,360 97,919 SH   OTR 3 97,919 0 0
STAG INDL COM 85254J102 27 1,100 SH   SOLE 3 1,100 0 0
STANLEY BLACK & DECKER COM 854502101 335 4,124 SH   SOLE 3 4,124 0 0
STAPLES COM 855030102 212 18,700 SH   SOLE 3 18,700 0 0
STARBUCKS COM 855244109 1,504 20,500 SH   SOLE 3 20,500 0 0
STARWOOD HOTELS&RESORTS COM 85590A401 2,277 28,600 SH   OTR 3 28,600 0 0
STARWOOD HOTELS&RESORTS COM 85590A401 454 5,700 SH   SOLE 3 5,700 0 0
STARWOOD WAYPOINT RESIDENTL SHS 85571W109 29 1,000 SH   SOLE 3 1,000 0 0
STATE STR COM 857477103 1,554 22,343 SH   SOLE 3 22,343 0 0
STERICYCLE COM 858912108 295 2,600 SH   SOLE 3 2,600 0 0
STRATEGIC HOTELS & RESORTS COM 86272T106 16,110 1,580,964 SH   OTR 3 1,580,964 0 0
STRATEGIC HOTELS & RESORTS COM 86272T106 49 4,800 SH   SOLE 3 4,800 0 0
STRYKER COM 863667101 660 8,100 SH   SOLE 3 8,100 0 0
SUMMIT HOTEL COM 866082100 19 2,000 SH   SOLE 3 2,000 0 0
SUN CMNTYS COM 866674104 1,775 39,359 SH   OTR 3 39,359 0 0
SUN CMNTYS COM 866674104 41 900 SH   SOLE 3 900 0 0
SUNPOWER COM 867652406 181 5,600 SH   SOLE 3 5,600 0 0
SUNSTONE HOTEL INVS INC COM 867892101 29,374 2,139,416 SH   OTR 3 2,139,416 0 0
SUNSTONE HOTEL INVS INC COM 867892101 63 4,570 SH   SOLE 3 4,570 0 0
SUNTRUST BKS COM 867914103 611 15,348 SH   SOLE 3 15,348 0 0
SUPERIOR ENERGY SVCS COM 868157108 129 4,200 SH   SOLE 3 4,200 0 0
SYMANTEC COM 871503108 361 18,100 SH   SOLE 3 18,100 0 0
SYNOPSYS COM 871607107 188 4,900 SH   SOLE 3 4,900 0 0
SYSCO COM 871829107 567 15,700 SH   SOLE 3 15,700 0 0
T-MOBILE US COM 872590104 243 7,350 SH   SOLE 3 7,350 0 0
TAIWAN SEMICONDUCTOR MFG LTD ADR 874039100 448 22,400 SH   SOLE 3 22,400 0 0
TANGER FACTORY OUTLET CTRS COM 875465106 8,273 236,360 SH   OTR 3 236,360 0 0
TANGER FACTORY OUTLET CTRS COM 875465106 88 2,500 SH   SOLE 3 2,500 0 0
TARGET COM 87612E106 980 16,200 SH   SOLE 3 16,200 0 0
TATA MTRS LTD ADR 876568502 375 10,600 SH   SOLE 3 10,600 0 0
TAUBMAN CTRS COM 876664103 153,677 2,170,892 SH   OTR 3 2,170,892 0 0
TAUBMAN CTRS COM 876664103 113 1,600 SH   SOLE 3 1,600 0 0
TD AMERITRADE HLDG COM 87236Y108 194 5,700 SH   SOLE 3 5,700 0 0
TE CONNECTIVITY LTD SHS H84989104 7,767 129,000 SH   OTR 3 129,000 0 0
TE CONNECTIVITY LTD SHS H84989104 7,203 119,625 SH   SOLE 3 119,625 0 0
TELEFONICA BRASIL SA ADR 87936R106 17 800 SH   SOLE 3 800 0 0
TELEFONICA BRASIL SA ADR 87936R106 4,742 223,260 SH   SOLE 3 223,260 0 0
TENET HEALTHCARE COM NEW 88033G407 5,754 134,400 SH   OTR 3 134,400 0 0
TERADATA CORP COM 88076W103 241 4,900 SH   SOLE 3 4,900 0 0
TERRENO RLTY COM 88146M101 11 600 SH   SOLE 3 600 0 0
TESLA MTRS COM 88160R101 625 3,000 SH   DFND 1,2 3,000 0 0
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TESORO COM 881609101 157 3,100 SH   SOLE 3 3,100 0 0
TEXAS INSTRS COM 882508104 1,401 29,700 SH   SOLE 3 29,700 0 0
TEXTRON COM 883203101 306 7,800 SH   SOLE 3 7,800 0 0
THE ADT COM 00101J106 177 5,912 SH   SOLE 3 5,912 0 0
THERMO FISHER SCIENTIFIC COM 883556102 204 1,694 SH   OTR 3 1,694 0 0
THERMO FISHER SCIENTIFIC COM 883556102 1,166 9,700 SH   SOLE 3 9,700 0 0
TIFFANY & CO COM 886547108 2,188 25,400 SH   OTR 3 25,400 0 0
TIFFANY & CO COM 886547108 586 6,800 SH   SOLE 3 6,800 0 0
TIM PARTICIPACOES S A ADR 88706P205 10 400 SH   SOLE 3 400 0 0
TIM PARTICIPACOES S A ADR 88706P205 3,300 127,136 SH   SOLE 3 127,136 0 0
TIME WARNER COM NEW 887317303 1,875 28,699 SH   SOLE 3 28,699 0 0
TIME WARNER CABLE COM 88732J207 82 600 SH   OTR 3 600 0 0
TIME WARNER CABLE COM 88732J207 1,037 7,560 SH   SOLE 3 7,560 0 0
TJX COS INC COM 872540109 4,640 76,500 SH   SOLE 3 76,500 0 0
TOLL BROTHERS COM 889478103 176 4,900 SH   SOLE 3 4,900 0 0
TORCHMARK COM 891027104 216 2,750 SH   SOLE 3 2,750 0 0
TOTAL SYS SVCS COM 891906109 151 4,951 SH   SOLE 3 4,951 0 0
TOWERS WATSON & CL A 891894107 171 1,500 SH   SOLE 3 1,500 0 0
TRACTOR SUPPLY COM 892356106 297 4,200 SH   SOLE 3 4,200 0 0
TRANSDIGM GROUP COM 893641100 222 1,200 SH   SOLE 3 1,200 0 0
TRAVELERS COMPANIES COM 89417E109 853 10,023 SH   SOLE 3 10,023 0 0
TRIMBLE NAVIGATION COM 896239100 233 6,000 SH   SOLE 3 6,000 0 0
TRINITY INDS INC NOTE 3.875% 6/0 DELETED 896522AF6 3,974 2,500,000 PRN   DFND 4,1,2 2,500,000 0 0
TRIPADVISOR COM 896945201 290 3,200 SH   SOLE 3 3,200 0 0
TRIUMPH GROUP INC COM 896818101 116 1,800 SH   OTR 3 1,800 0 0
TRW AUTOMOTIVE HLDGS COM 87264S106 6,366 78,000 SH   SOLE 3 78,000 0 0
TWENTY FIRST CENTY FOX CL A 90130A101 4,765 149,050 SH   SOLE 3 149,050 0 0
TYCO INTERNATIONAL SHS H89128104 692 16,325 SH   SOLE 3 16,325 0 0
TYSON FOODS CL A 902494103 299 6,800 SH   OTR 3 6,800 0 0
TYSON FOODS CL A 902494103 343 7,800 SH   SOLE 3 7,800 0 0
U M H PROPERTIES COM 903002103 4 400 SH   SOLE 3 400 0 0
UDR COM 902653104 298,638 11,561,686 SH   OTR 3 11,561,686 0 0
UDR COM 902653104 351 13,600 SH   SOLE 3 13,600 0 0
ULTA SALON COSMETCS & FRAG COM 90384S303 175 1,800 SH   SOLE 3 1,800 0 0
ULTRAPAR PARTICIPACOES S A SP ADR COM 90400P101 22 900 SH   SOLE 3 900 0 0
ULTRAPAR PARTICIPACOES S A SP ADR COM 90400P101 12,946 537,400 SH   SOLE 3 537,400 0 0
UNDER ARMOUR CL A 904311107 218 1,900 SH   SOLE 3 1,900 0 0
UNION PAC COM 907818108 6,390 34,050 SH   OTR 3 34,050 0 0
UNION PAC COM 907818108 14,703 78,350 SH   SOLE 3 78,350 0 0
UNITED CONTL HLDGS COM 910047109 85 1,900 SH   SOLE 3 1,900 0 0
UNITED RENTALS COM 911363109 779 8,200 SH   SOLE 3 8,200 0 0
UNITED TECHNOLOGIES COM 913017109 3,575 30,600 SH   SOLE 3 30,600 0 0
UNITEDHEALTH GROUP COM 91324P102 9,357 114,126 SH   SOLE 3 114,126 0 0
UNUM COM 91529Y106 272 7,700 SH   SOLE 3 7,700 0 0
URBAN OUTFITTERS COM 917047102 146 4,000 SH   SOLE 3 4,000 0 0
URSTADT BIDDLE PPTYS CL A 917286205 14 700 SH   SOLE 3 700 0 0
US BANCORP COM NEW 902973304 7,380 172,200 SH   SOLE 3 172,200 0 0
V F COM 918204108 87 1,400 SH   OTR 3 1,400 0 0
V F COM 918204108 594 9,600 SH   SOLE 3 9,600 0 0
VALE S ADR 91912E105 173 12,500 SH   SOLE 3 12,500 0 0
VALE S ADR 91912E105 916 66,200 SH   SOLE 3 66,200 0 0
VALERO ENERGY CORP COM 91913Y100 764 14,392 SH   SOLE 3 14,392 0 0
VANTIV CL A 92210H105 88 2,900 SH   SOLE 3 2,900 0 0
VARIAN MED SYS COM 92220P105 227 2,700 SH   SOLE 3 2,700 0 0
VECTOR GROUP PUT 92240M958 1 250 SH   DFND 4,1,2 250 0 0
VECTOR GROUP PUT 92240M958 4 453 SH   DFND 4,1,2 453 0 0
VENTAS COM 92276F100 534,750 8,828,630 SH   OTR 3 8,828,630 0 0
VENTAS COM 92276F100 989 16,324 SH   SOLE 3 16,324 0 0
VERISIGN COM 92343E102 4,259 79,000 SH   SOLE 3 79,000 0 0
VERISK ANALYTICS CL A 92345Y106 246 4,100 SH   SOLE 3 4,100 0 0
VERIZON COMMUNICATIONS COM 92343V104 5,316 111,748 SH   SOLE 3 111,748 0 0
VERTEX PHARMACEUTICALS COM 92532F100 460 6,500 SH   SOLE 3 6,500 0 0
VISA INC CL A 92826C839 2,914 13,500 SH   OTR 3 13,500 0 0
VISA INC CL A 92826C839 3,799 17,600 SH   SOLE 3 17,600 0 0
VIVUS COM 928551100 237 40,000 SH   DFND 4,1,2 40,000 0 0
VIVUS PUT 928551950 53 500 SH   DFND 4,1,2 500 0 0
VMWARE INC CL COM 928563402 421 3,900 SH   SOLE 3 3,900 0 0
VULCAN MATLS COM 929160109 239 3,600 SH   SOLE 3 3,600 0 0
W P CAREY COM 92936U109 90 1,500 SH   SOLE 3 1,500 0 0
WABCO HLDGS COM 92927K102 2,586 24,500 SH   SOLE 3 24,500 0 0
WAL-MART STORES COM 931142103 199 2,600 SH   OTR 3 2,600 0 0
WAL-MART STORES COM 931142103 3,401 44,500 SH   SOLE 3 44,500 0 0
WALGREEN COM 931422109 1,611 24,400 SH   SOLE 3 24,400 0 0
WASTE MGMT INC COM 94106L109 517 12,300 SH   SOLE 3 12,300 0 0
WATERS COM 941848103 260 2,400 SH   SOLE 3 2,400 0 0
WEATHERFORD INTERNATIONAL LT SHS H27013103 370 21,300 SH   SOLE 3 21,300 0 0
WEBMD HEALTH COM 94770V102 1,459 35,250 SH   DFND 4,1,2 35,250 0 0
WEBMD HEALTH PUT 94770V952 21 2,165 SH   DFND 4,1,2 2,165 0 0
WEBMD HEALTH PUT 94770V952 104 1,500 SH   DFND 4,1,2 1,500 0 0
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WELLPOINT COM 94973V107 836 8,400 SH   SOLE 3 8,400 0 0
WELLS FARGO & CO COM 949746101 5,667 113,926 SH   OTR 3 113,926 0 0
WELLS FARGO & CO COM 949746101 6,999 140,709 SH   SOLE 3 140,709 0 0
WESTAR ENERGY COM 95709T100 91 2,600 SH   OTR 3 2,600 0 0
WESTERN DIGITAL COM 958102105 6,308 68,700 SH   SOLE 3 68,700 0 0
WESTERN UN COM 959802109 245 14,946 SH   SOLE 3 14,946 0 0
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WHIRLPOOL COM 963320106 344 2,300 SH   SOLE 3 2,300 0 0
WHITESTONE COM 966084204 7 500 SH   SOLE 3 500 0 0
WHITING PETE CORP COM 966387102 215 3,100 SH   SOLE 3 3,100 0 0
WHOLE FOODS MKT COM 966837106 502 9,900 SH   SOLE 3 9,900 0 0
WILLIAMS COS INC COM 969457100 747 18,400 SH   SOLE 3 18,400 0 0
WILLIS GROUP HOLDINGS SHS G96666105 216 4,900 SH   SOLE 3 4,900 0 0
WINDSTREAM HLDGS COM 97382A101 154 18,700 SH   SOLE 3 18,700 0 0
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WOODWARD COM 980745103 179 4,300 SH   SOLE 3 4,300 0 0
WORKDAY CL A 98138H101 183 2,000 SH   SOLE 3 2,000 0 0
WYNDHAM WORLDWIDE COM 98310W108 5,866 80,100 SH   SOLE 3 80,100 0 0
WYNN RESORTS COM 983134107 533 2,400 SH   SOLE 3 2,400 0 0
XCEL ENERGY COM 98389B100 410 13,500 SH   SOLE 3 13,500 0 0
XEROX COM 984121103 358 31,653 SH   SOLE 3 31,653 0 0
XILINX COM 983919101 423 7,800 SH   SOLE 3 7,800 0 0
XL GROUP SHS G98290102 266 8,500 SH   SOLE 3 8,500 0 0
XYLEM COM 98419M100 226 6,200 SH   SOLE 3 6,200 0 0
YAHOO COM 984332106 71 2,000 SH   DFND 1,2 2,000 0 0
YAHOO COM 984332106 861 23,993 SH   SOLE   23,993 0 0
YAHOO COM 984332106 10,580 294,700 SH   SOLE 3 294,700 0 0
YANZHOU COAL MNG CO LTD SPON ADR SHS 984846105 8 1,000 SH   SOLE 3 1,000 0 0
YELP CL A 985817105 192 2,500 SH   DFND 1,2 2,500 0 0
YUM BRANDS COM 988498101 912 12,100 SH   SOLE 3 12,100 0 0
ZIMMER HLDGS COM 98956P102 454 4,800 SH   SOLE 3 4,800 0 0
ZOETIS CL A 98978V103 339 11,700 SH   SOLE 3 11,700 0 0