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
ABM INDS INC COM 000957100 7,676 284,492 SH   SOLE   284,492 0 0
ACE LTD SHS H0023R105 4,244 40,923 SH   SOLE   40,923 0 0
ADVANCE AUTO PARTS INC COM 00751Y106 18,932 140,318 SH   SOLE   140,318 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 5,161 66,475 SH   SOLE   66,475 0 0
ALLEGHANY CORP DEL COM 017175100 3,344 7,632 SH   SOLE   7,632 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 13,246 242,697 SH   SOLE   242,697 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 10,828 864,133 SH   SOLE   864,133 0 0
AMERICAN TOWER CORP NEW COM 03027X100 20,386 226,563 SH   SOLE   226,563 0 0
AMETEK INC NEW COM 031100100 4,120 78,815 SH   SOLE   78,815 0 0
AON PLC SHS CL A G0408V102 9,172 101,807 SH   SOLE   101,807 0 0
APPLIED INDL TECHNOLOGIES IN COM 03820C105 16,447 324,198 SH   SOLE   324,198 0 0
ARAMARK COM 03852U106 17,001 656,926 SH   SOLE   656,926 0 0
AUTOZONE INC COM 053332102 18,395 34,304 SH   SOLE   34,304 0 0
AVALONBAY CMNTYS INC COM 053484101 9,105 64,035 SH   SOLE   64,035 0 0
AVERY DENNISON CORP COM 053611109 18,481 360,603 SH   SOLE   360,603 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 10,596 239,298 SH   SOLE   239,298 0 0
BEACON ROOFING SUPPLY INC COM 073685109 6,612 199,634 SH   SOLE   199,634 0 0
BERKLEY W R CORP COM 084423102 9,362 202,165 SH   SOLE   202,165 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 8,263 65,291 SH   SOLE   65,291 0 0
BLACKROCK INC COM 09247X101 4,625 14,472 SH   SOLE   14,472 0 0
BROWN & BROWN INC COM 115236101 37,076 1,207,280 SH   SOLE   1,207,280 0 0
CARMAX INC COM 143130102 14,062 270,379 SH   SOLE   270,379 0 0
CARTER INC COM 146229109 2,070 30,028 SH   SOLE   30,028 0 0
CHOICE HOTELS INTL INC COM 169905106 4,618 98,028 SH   SOLE   98,028 0 0
CHUBB CORP COM 171232101 4,185 45,406 SH   SOLE   45,406 0 0
CINEMARK HOLDINGS INC COM 17243V102 5,021 141,991 SH   SOLE   141,991 0 0
CITIGROUP INC COM NEW 172967424 15,662 332,526 SH   SOLE   332,526 0 0
CLARCOR INC COM 179895107 19,687 318,296 SH   SOLE   318,296 0 0
COCA COLA ENTERPRISES INC NE COM 19122T109 1,596 33,405 SH   SOLE   33,405 0 0
COPART INC COM 217204106 4,452 123,795 SH   SOLE   123,795 0 0
CROWN CASTLE INTL CORP COM 228227104 32,579 438,715 SH   SOLE   438,715 0 0
CROWN HOLDINGS INC COM 228368106 2,488 49,990 SH   SOLE   49,990 0 0
CSX CORP COM 126408103 4,492 145,807 SH   SOLE   145,807 0 0
DANAHER CORP DEL COM 235851102 8,842 112,311 SH   SOLE   112,311 0 0
DENTSPLY INTL INC NEW COM 249030107 6,624 139,895 SH   SOLE   139,895 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 3,705 288,965 SH   SOLE   288,965 0 0
DSW INC CL A 23334L102 9,362 335,059 SH   SOLE   335,059 0 0
DUN & BRADSTREET CORP DEL NE COM 26483E100 25,222 228,878 SH   SOLE   228,878 0 0
EATON VANCE CORP COM NON VTG 278265103 7,713 204,094 SH   SOLE   204,094 0 0
EBAY INC COM 278642103 9,489 189,547 SH   SOLE   189,547 0 0
ECOLAB INC COM 278865100 28,768 258,382 SH   SOLE   258,382 0 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 5,167 100,154 SH   SOLE   100,154 0 0
EPR PPTYS CONV PFD 9% SR E 26884U307 9,856 312,694 SH   SOLE   312,694 0 0
EQUIFAX INC COM 294429105 4,413 60,835 SH   SOLE   60,835 0 0
EQUINIX INC COM NEW 29444U502 13,416 63,858 SH   SOLE   63,858 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 3,603 81,588 SH   SOLE   81,588 0 0
EVEREST RE GROUP LTD COM G3223R108 4,364 27,192 SH   SOLE   27,192 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 7,591 327,745 SH   SOLE   327,745 0 0
EXTRA SPACE STORAGE INC COM 30225T102 4,362 81,912 SH   SOLE   81,912 0 0
FACTSET RESH SYS INC COM 303075105 4,331 36,008 SH   SOLE   36,008 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 13,233 241,744 SH   SOLE   241,744 0 0
FISERV INC COM 337738108 28,888 478,911 SH   SOLE   478,911 0 0
FLEETCOR TECHNOLOGIES INC COM 339041105 34,010 258,041 SH   SOLE   258,041 0 0
FULLER H B CO COM 359694106 14,961 311,030 SH   SOLE   311,030 0 0
G & K SVCS INC CL A 361268105 4,233 81,295 SH   SOLE   81,295 0 0
GAMING & LEISURE PPTYS INC COM 36467J108 8,838 260,185 SH   SOLE   260,185 0 0
GILDAN ACTIVEWEAR INC COM 375916103 23,712 402,724 SH   SOLE   402,724 0 0
GRACE W R & CO DEL NEW COM 38388F108 3,853 40,757 SH   SOLE   40,757 0 0
GRACO INC COM 384109104 3,822 48,952 SH   SOLE   48,952 0 0
GRAINGER W W INC COM 384802104 4,310 16,952 SH   SOLE   16,952 0 0
HCP INC COM 40414L109 3,687 89,096 SH   SOLE   89,096 0 0
HEALTHCARE RLTY TR COM 421946104 4,295 168,956 SH   SOLE   168,956 0 0
HEARTLAND PMT SYS INC COM 42235N108 14,764 358,255 SH   SOLE   358,255 0 0
HIGHWOODS PPTYS INC COM 431284108 6,462 154,034 SH   SOLE   154,034 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A104 4,514 193,748 SH   SOLE   193,748 0 0
HOME DEPOT INC COM 437076102 14,320 176,873 SH   SOLE   176,873 0 0
HONEYWELL INTL INC COM 438516106 10,751 115,660 SH   SOLE   115,660 0 0
HYATT HOTELS CORP COM CL A 448579102 7,649 125,433 SH   SOLE   125,433 0 0
INGERSOLL-RAND PLC SHS G47791101 4,423 70,757 SH   SOLE   70,757 0 0
INTERXION HOLDING N.V SHS N47279109 11,690 426,941 SH   SOLE   426,941 0 0
INTUIT COM 461202103 6,688 83,055 SH   SOLE   83,055 0 0
INVESCO LTD SHS G491BT108 8,751 231,817 SH   SOLE   231,817 0 0
JONES LANG LASALLE INC COM 48020Q107 4,427 35,026 SH   SOLE   35,026 0 0
KAR AUCTION SVCS INC COM 48238T109 6,636 208,206 SH   SOLE   208,206 0 0
LA QUINTA HLDGS INC COM 50420D108 7,908 413,173 SH   SOLE   413,173 0 0
LAMAR ADVERTISING CO CL A 512815101 20,503 386,857 SH   SOLE   386,857 0 0
LENNOX INTL INC COM 526107107 3,797 42,394 SH   SOLE   42,394 0 0
LIBERTY PPTY TR SH BEN INT 531172104 3,559 93,833 SH   SOLE   93,833 0 0
LKQ CORP COM 501889208 58,434 2,189,341 SH   SOLE   2,189,341 0 0
LOWES COS INC COM 548661107 34,622 721,434 SH   SOLE   721,434 0 0
M D C HLDGS INC COM 552676108 17,771 586,679 SH   SOLE   586,679 0 0
MASTERCARD INC CL A 57636Q104 4,978 67,752 SH   SOLE   67,752 0 0
MCGRAW HILL FINL INC COM 580645109 3,131 37,705 SH   SOLE   37,705 0 0
MEDNAX INC COM 58502B106 6,531 112,308 SH   SOLE   112,308 0 0
MERITAGE HOMES CORP COM 59001A102 16,980 402,277 SH   SOLE   402,277 0 0
METTLER TOLEDO INTERNATIONAL COM 592688105 6,661 26,310 SH   SOLE   26,310 0 0
MID-AMER APT CMNTYS INC COM 59522J103 36,969 506,072 SH   SOLE   506,072 0 0
MONDELEZ INTL INC CL A 609207105 4,440 118,055 SH   SOLE   118,055 0 0
MWI VETERINARY SUPPLY INC COM 55402X105 10,108 71,189 SH   SOLE   71,189 0 0
NORFOLK SOUTHERN CORP COM 655844108 5,973 57,973 SH   SOLE   57,973 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 15,926 105,752 SH   SOLE   105,752 0 0
OLD DOMINION FGHT LINES INC COM 679580100 21,583 338,933 SH   SOLE   338,933 0 0
PANERA BREAD CO CL A 69840W108 9,797 65,390 SH   SOLE   65,390 0 0
PARTNERRE LTD COM G6852T105 4,288 39,266 SH   SOLE   39,266 0 0
PATTERSON COMPANIES INC COM 703395103 8,749 221,448 SH   SOLE   221,448 0 0
PENTAIR PLC SHS G7S00T104 13,645 189,202 SH   SOLE   189,202 0 0
PERKINELMER INC COM 714046109 6,323 134,996 SH   SOLE   134,996 0 0
PRAXAIR INC COM 74005P104 4,419 33,268 SH   SOLE   33,268 0 0
PREMIER INC CL A 74051N102 8,897 306,799 SH   SOLE   306,799 0 0
PROCTER & GAMBLE CO COM 742718109 16,857 214,498 SH   SOLE   214,498 0 0
PROGRESSIVE WASTE SOLUTIONS COM 74339G101 4,436 172,819 SH   SOLE   172,819 0 0
PUBLIC STORAGE COM 74460D109 3,800 22,179 SH   SOLE   22,179 0 0
RALPH LAUREN CORP CL A 751212101 4,562 28,388 SH   SOLE   28,388 0 0
RLJ LODGING TR COM 74965L101 18,573 642,873 SH   SOLE   642,873 0 0
ROPER INDS INC NEW COM 776696106 21,872 149,800 SH   SOLE   149,800 0 0
ROSS STORES INC COM 778296103 17,165 259,569 SH   SOLE   259,569 0 0
RYLAND GROUP INC COM 783764103 10,025 254,188 SH   SOLE   254,188 0 0
SBA COMMUNICATIONS CORP COM 78388J106 44,346 433,485 SH   SOLE   433,485 0 0
SCHEIN HENRY INC COM 806407102 8,815 74,289 SH   SOLE   74,289 0 0
SEAWORLD ENTMT INC COM 81282V100 333 11,741 SH   SOLE   11,741 0 0
SENSIENT TECHNOLOGIES CORP COM 81725T100 12,159 218,223 SH   SOLE   218,223 0 0
SIMON PPTY GROUP INC NEW COM 828806109 8,173 49,153 SH   SOLE   49,153 0 0
SMUCKER J M CO COM NEW 832696405 16,397 153,860 SH   SOLE   153,860 0 0
SOLERA HOLDINGS INC COM 83421A104 7,560 112,588 SH   SOLE   112,588 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 19,712 1,735,222 SH   SOLE   1,735,222 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 4,422 54,713 SH   SOLE   54,713 0 0
STERICYCLE INC COM 858912108 17,350 146,515 SH   SOLE   146,515 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 9,283 621,771 SH   SOLE   621,771 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 15,344 438,779 SH   SOLE   438,779 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 16,830 142,624 SH   SOLE   142,624 0 0
TOLL BROTHERS INC COM 889478103 4,591 124,427 SH   SOLE   124,427 0 0
UNIFIRST CORP MASS COM 904708104 4,820 45,468 SH   SOLE   45,468 0 0
UNION PAC CORP COM 907818108 7,426 74,444 SH   SOLE   74,444 0 0
UNITED NAT FOODS INC COM 911163103 4,234 65,040 SH   SOLE   65,040 0 0
UNITED STATIONERS INC COM 913004107 12,423 299,573 SH   SOLE   299,573 0 0
VANTIV INC CL A 92210H105 4,780 142,163 SH   SOLE   142,163 0 0
VENTAS INC COM 92276F100 10,304 160,751 SH   SOLE   160,751 0 0
VERISK ANALYTICS INC CL A 92345Y106 9,057 150,895 SH   SOLE   150,895 0 0
VISA INC COM CL A 92826C839 34,642 164,404 SH   SOLE   164,404 0 0
WATERS CORP COM 941848103 3,983 38,139 SH   SOLE   38,139 0 0
WATSCO INC COM 942622200 24,995 243,235 SH   SOLE   243,235 0 0
WEX INC COM 96208T104 1,097 10,454 SH   SOLE   10,454 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 3,777 6,207 SH   SOLE   6,207 0 0
WYNDHAM WORLDWIDE CORP COM 98310W108 4,346 57,400 SH   SOLE   57,400 0 0
XL GROUP PLC SHS G98290102 3,196 97,660 SH   SOLE   97,660 0 0
ZOETIS INC CL A 98978V103 14,823 459,328 SH   SOLE   459,328 0 0