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
8POINT3 ENERGY PARTNERS LP CL A RPT LTDPT 282539105 5,180 278,200 SH   DFND 1 278,200 0 0
ABB LTD-SPON ADR SPONSORED ADR 000375204 912 43,702 SH   DFND 1 43,702 0 0
AES CORP COM 00130H105 1,764 133,050 SH   DFND 1 133,050 0 0
AGRIUM INC COM 008916108 334 3,150 SH   DFND 1 3,150 0 0
ALEXANDER'S INC COM 014752109 41,406 100,991 SH   DFND 1 73,346 0 27,645
AMERICAN RLTY CAP PPTYS INC COMMON 02917T104 4,065 500,000 SH   DFND 3 500,000 0 0
AMERICAN TOWER CORP COM 03027X100 416,472 4,464,272 SH   DFND 1 3,753,964 0 710,308
AMERICAN WATER WORKS CO INC COM 030420103 128,471 2,641,811 SH   DFND 1 2,208,411 0 433,400
APPLE INC COM 037833100 8,411 67,060 SH   DFND 1 67,060 0 0
ARDMORE SHIPPING CORP COM Y0207T100 288 23,800 SH   DFND 1 23,800 0 0
AVALONBAY COMMUNITIES INC COM 053484101 173,954 1,088,095 SH   DFND 1 847,699 0 240,396
AZURE MIDSTREAM PARTNERS LP COM UNIT LTD PAR 05501X100 1,186 100,000 SH   DFND 1 100,000 0 0
B&G FOODS INC COM 05508R106 394 13,810 SH   DFND 1 13,810 0 0
BALL CORP COM 058498106 1,357 19,345 SH   DFND 1 19,345 0 0
BLACK STONE MINERALS LP COM UNIT 09225M101 191 11,100 SH   DFND 1 11,100 0 0
BOARDWALK PIPELINE PARTNERS COM 096627104 52,653 3,626,271 SH   DFND 1 2,945,371 0 680,900
BOISE CASCADE CO COM 09739D100 1,175 32,040 SH   DFND 1 32,040 0 0
BOISE CASCADE CO DEL COMMON 09739D100 8,767 239,000 SH   DFND 3 239,000 0 0
BP PLC-SPONS ADR SPONSORED ADR 055622104 5,277 132,066 SH   DFND 1 132,066 0 0
BRANDYWINE REALTY TRUST SH BEN INT NEW 105368203 137,252 10,335,276 SH   DFND 1 8,049,883 0 2,285,393
BREITBURN ENERGY PARTNERS LP COM UT LTD PTN 106776107 62 13,075 SH   DFND 1 13,075 0 0
BRIXMOR PROPERTY GROUP INC COM 11120U105 97,462 4,213,656 SH   DFND 1 3,265,787 0 947,869
Brookfield Canada Office Properties Trust Units 112823109 227,973 10,564,117 SH   DFND 2 10,564,117 0 0
BROOKFIELD HIGH INCOME FUND COM 11272P102 96 11,800 SH   DFND 1 0 0 11,800
BROOKFIELD INFRAST PARTNERS LP INT UNIT LP Units G16252101 2,047 48,930 SH   DFND   48,930 0 0
BROOKFIELD MORTGAGE OPPORTUN COM 112792106 371 23,450 SH   DFND 1 0 0 23,450
BROOKFIELD PPTY PARTNERS LP LP UNIT LP Units G16249107 1,034,179 45,249,901 SH   DFND   45,249,901 0 0
BUCKEYE PARTNERS LP UNIT LTD PARTN 118230101 37,993 513,910 SH   DFND 1 376,310 0 137,600
C&J ENERGY SERVICES LTD SHS G3164Q101 786 59,543 SH   DFND 1 59,543 0 0
CALIFORNIA RESOURCES CORP COM 13057Q107 509 84,300 SH   DFND 1 84,300 0 0
CAMDEN PROPERTY TRUST SH BEN INT 133131102 147,791 1,989,644 SH   DFND 1 1,569,046 0 420,598
CBL & ASSOCIATES PROPERTIES COM 124830100 219,077 13,523,295 SH   DFND 1 10,522,999 0 3,000,296
CEMEX SAB-SPONS ADR PART CER SPON ADR NEW 151290889 948 103,480 SH   DFND 1 103,480 0 0
CENTERPOINT ENERGY INC COM 15189T107 121,679 6,394,072 SH   DFND 1 5,311,572 0 1,082,500
CENTURYLINK INC COM 156700106 1,346 45,820 SH   DFND 1 45,820 0 0
COCA-COLA CO/THE COM 191216100 6,347 161,800 SH   DFND 1 161,800 0 0
COLFAX CORP COM 194014106 932 20,203 SH   DFND 1 20,203 0 0
COLUMBIA PIPELINE PARTNERS L COM UT REPSTG 198281107 18,094 718,010 SH   DFND 1 527,410 0 190,600
COOPER TIRE & RUBBER CO COMMON 216831107 4,229 125,000 SH   DFND 3 125,000 0 0
COOPER-STD HLDG INC COMMON 21676P103 1,537 25,000 SH   DFND 3 25,000 0 0
CORPORATE OFFICE PROPERTIES COM 22002T108 91,590 3,890,826 SH   DFND 1 3,027,426 0 863,400
COSAN LTD-CLASS A SHARES SHS A G25343107 6,942 1,127,000 SH   DFND 1 1,127,000 0 0
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344109 30,695 7,432,316 SH   DFND 1 5,862,948 0 1,569,368
CRESTWOOD MIDSTREAM PARTNERS UNIT LTD PARTNER 226378107 9,269 827,600 SH   DFND 1 827,600 0 0
CROWN CASTLE INTL CORP COM 22822V101 208,627 2,598,092 SH   DFND 1 2,183,992 0 414,100
CSX CORP COM 126408103 34,942 1,070,190 SH   DFND 1 918,190 0 152,000
CVR PARTNERS LP COM 126633106 1,111 87,987 SH   DFND 1 87,987 0 0
DAKOTA PLAINS HOLDINGS INC COM 234255107 1,875 1,575,633 SH   DFND 1 1,575,633 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 56,790 1,806,308 SH   DFND 1 1,418,222 0 388,086
DEERE & CO COM 244199105 1,328 13,687 SH   DFND 1 13,687 0 0
DOMINION RESOURCES INC/VA COM 25746U109 2,795 41,800 SH   DFND 1 41,800 0 0
DOUGLAS EMMETT INC COM 25960P109 151,252 5,614,420 SH   DFND 1 4,289,825 0 1,324,595
EDISON INTERNATIONAL COM 281020107 17,452 314,000 SH   DFND 1 314,000 0 0
EMERGE ENERGY SERVICES LP COM REP PARTN 29102H108 5,206 144,200 SH   DFND 1 144,200 0 0
ENABLE MIDSTREAM PARTNERS LP COM UNIT RP IN 292480100 4,035 252,500 SH   DFND 1 252,500 0 0
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 21,078 638,726 SH   DFND 1 638,726 0 0
ENBRIDGE INC COM 29250N105 6,317 135,000 SH   DFND 1 135,000 0 0
ENERGY TRANSFER EQUITY LP COM UT LTD PTN 29273V100 25,675 400,108 SH   DFND 1 319,808 0 80,300
ENERGY TRANSFER PARTNERS LP UNIT LTD PARTN 29273R109 173,405 3,321,940 SH   DFND 1 2,647,440 0 674,500
ENTERPRISE PRODUCTS PARTNERS COM 293792107 155,458 5,201,002 SH   DFND 1 3,894,702 0 1,306,300
EPR 9% Pfd Series E CONV PFD 9% SR E 26884U307 2,389 73,498 SH   DFND 1 73,498 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 35,691 437,711 SH   DFND 1 342,611 0 95,100
Equity Commonwealth 6.25% Pfd Series D CUM PFD S D 6.5% 294628201 428 17,600 SH   DFND 1 17,600 0 0
Equity One Inc. Common Stock 294752100 29 1,259 SH   DFND 2 1,259 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 108,314 1,543,600 SH   DFND 1 1,262,300 0 281,300
ETFS PHYSICAL PALLADIUM SHAR SH BEN INT 26923A106 429 6,581 SH   DFND 1 6,581 0 0
EURONAVE NV ANTWERPEN SHS B38564108 3,679 248,400 SH   DFND 3 248,400 0 0
EV ENERGY PARTNERS LP COM UNITS 26926V107 3,497 305,961 SH   DFND 1 305,961 0 0
EVERSOURCE ENERGY COM 30040W108 48,911 1,077,100 SH   DFND 1 907,800 0 169,300
EXELON CORP COM 30161N101 467 14,866 SH   DFND 1 14,866 0 0
EXTERRAN PARTNERS LP COM UNITS 30225N105 11,016 489,600 SH   DFND 1 489,600 0 0
EXXON MOBIL CORP COM 30231G102 250 3,000 SH   DFND 1 3,000 0 0
FIBRIA CELULOSE SA-SPON ADR SP ADR REP COM 31573A109 1,159 85,184 SH   DFND 1 85,184 0 0
FORD MOTOR CO COM PAR $0.01 345370860 1,873 124,800 SH   DFND 1 124,800 0 0
GENER8 MARITIME INC COMMON Y26889108 3,067 225,000 SH   DFND 3 225,000 0 0
GENERAL ELECTRIC CO COM 369604103 1,999 75,250 SH   DFND 1 75,250 0 0
General Growth Properties Common Stock 370023103 7,685,298 299,504,977 SH   DFND 2 299,504,977 0 0
GENERAL MILLS INC COM 370334104 7,227 129,696 SH   DFND 1 129,696 0 0
GENERAL MOTORS CO COM 37045V100 9,442 283,300 SH   DFND 1 283,300 0 0
GENERAL MOTORS-CW16 *W EXP 07/10/201 37045V118 813 34,193 SH   DFND 1 34,193 0 0
GENERAL MOTORS-CW19 *W EXP 07/10/201 37045V126 545 34,193 SH   DFND 1 34,193 0 0
GENERAL MTRS CO COMMON 37045V100 6,666 200,000 SH Call DFND 3 200,000 0 0
GOLAR LNG LTD BERMUDA COMMON G9456A100 3,533 75,500 SH   DFND 3 75,500 0 0
GRAMERCY PROPERTY TRUST INC COM 38489R605 15,048 643,892 SH   DFND 1 436,017 0 207,875
GRANITE CONSTRUCTION INC COM 387328107 744 20,965 SH   DFND 1 20,965 0 0
GREENBRIER COS INC COMMON 393657101 3,514 75,000 SH Call DFND 3 75,000 0 0
GRUPO AEROPORTUARIO PAC-ADR SPON ADR B 400506101 18,455 269,454 SH   DFND 1 269,454 0 0
HALLIBURTON CO COM 406216101 1,388 32,216 SH   DFND 1 32,216 0 0
HCP INC COM 40414L109 193,126 5,295,487 SH   DFND 1 4,141,687 0 1,153,800
HEALTH CARE REIT INC COM 42217K106 3,685 144,964 SH   DFND 1 144,964 0 0
HERSHA HOSPITALITY TRUST PR SHS BEN INT 427825500 20,723 808,248 SH   DFND 1 642,773 0 165,475
HIGHWOODS PROPERTIES INC COM 431284108 111,124 2,781,576 SH   DFND 1 2,030,070 0 751,506
HOST HOTELS & RESORTS INC COM 44107P104 122,448 6,174,869 SH   DFND 1 4,769,315 0 1,405,554
HOVNANIAN ENTERPRISES-A CL A 442487203 9,323 3,504,991 SH   DFND 1 2,831,591 0 673,400
HSBC HOLDINGS PLC-SPONS ADR SPON ADR NEW 404280406 8,608 192,100 SH   DFND 1 192,100 0 0
IRON MOUNTAIN INC COM 46284V101 1,649 53,186 SH   DFND 1 53,186 0 0
ISTAR FINANCIAL INC COM 45031U101 15,490 1,162,900 SH   DFND 1 939,200 0 223,700
ITC HOLDINGS CORP COM 465685105 76,554 2,378,940 SH   DFND 1 1,983,840 0 395,100
JOHNSON & JOHNSON COM 478160104 7,471 76,656 SH   DFND 1 76,656 0 0
JPMORGAN CHASE & CO COM 46625H100 10,577 156,100 SH   DFND 1 156,100 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 62,303 683,144 SH   DFND 1 570,344 0 112,800
KELLOGG CO COM 487836108 6,152 98,120 SH   DFND 1 98,120 0 0
KINDER MORGAN INC COM 49456B101 174,717 4,551,119 SH   DFND 1 4,159,019 0 392,100
LEXINGTON REALTY TRUST COM 529043101 16,444 1,939,100 SH   DFND 1 1,487,600 0 451,500
LOWE'S COS INC COM 548661107 1,021 15,241 SH   DFND 1 15,241 0 0
Mack-Cali Realty Corp. Common Stock 554489104 16,716 906,975 SH   DFND 2 906,975 0 0
MACQUARIE INFRASTRUCTURE CO COM 55608B105 11,411 138,100 SH   DFND 1 138,100 0 0
MARKWEST ENERGY PARTNERS LP UNIT LTD PARTN 570759100 18,775 333,015 SH   DFND 1 247,221 0 85,794
MCDONALD'S CORP COM 580135101 6,080 63,950 SH   DFND 1 63,950 0 0
MID-AMERICA APARTMENT COMM COM 59522J103 185,372 2,545,964 SH   DFND 1 1,903,444 0 642,520
MILACRON HOLDINGS CORP COM 59870L106 925 47,000 SH   DFND 1 47,000 0 0
MONDELEZ INTERNATIONAL INC-A CL A 609207105 8,917 216,750 SH   DFND 1 216,750 0 0
MONSANTO CO COM 61166W101 208 1,955 SH   DFND 1 1,955 0 0
NATIONAL OILWELL VARCO INC COM 637071101 478 9,900 SH   DFND 1 9,900 0 0
NATIONSTAR MORTGAGE HOLDINGS COM 63861C109 34,406 2,048,000 SH   DFND 1 1,644,000 0 404,000
NATL HEALTH INVESTORS INC COM 63633D104 41,036 658,680 SH   DFND 1 467,480 0 191,200
NEXTERA ENERGY INC COM 65339F101 1,432 14,610 SH   DFND 1 14,610 0 0
NGL ENERGY PARTNERS LP COM UNIT REPST 62913M107 11,710 386,090 SH   DFND 1 386,090 0 0
NISOURCE INC COM 65473P105 109,956 2,411,834 SH   DFND 1 2,140,734 0 271,100
NORTHSTAR ASSET MANAGEMENT COM 66705Y104 16,994 919,100 SH   DFND 1 742,100 0 177,000
NORTHSTAR REALTY FINANCE COM NEW 66704R704 124,153 7,808,368 SH   DFND 1 6,159,068 0 1,649,300
NUSTAR ENERGY LP UNIT COM 67058H102 10,101 170,186 SH   DFND 1 170,186 0 0
OLD DOMINION FREIGHT LINE COM 679580100 1,460 21,275 SH   DFND 1 21,275 0 0
ONE GAS INC COM 68235P108 48,681 1,143,813 SH   DFND 1 996,673 0 147,140
OUTFRONT MEDIA INC COM 69007J106 222,960 8,833,608 SH   DFND 1 6,938,438 0 1,895,170
P G & E CORP COM 69331C108 205,204 4,179,300 SH   DFND 1 3,454,200 0 725,100
PACKAGING CORP OF AMERICA COM 695156109 1,115 17,835 SH   DFND 1 17,835 0 0
PARKER DRILLING CO COMMON 701081101 2,294 691,000 SH   DFND 3 691,000 0 0
PARKWAY PROPERTIES INC COM 70159Q104 73,568 4,218,352 SH   DFND 1 3,266,586 0 951,766
PATTERN ENERGY GROUP INC CL A 70338P100 9,069 319,560 SH   DFND 1 319,560 0 0
PEMBINA PIPELINE CORP COM 706327103 41,389 1,281,405 SH   DFND 1 1,281,405 0 0
PFIZER INC COM 717081103 6,375 190,125 SH   DFND 1 190,125 0 0
PHILIP MORRIS INTERNATIONAL COM 718172109 6,114 76,265 SH   DFND 1 76,265 0 0
PLAINS ALL AMER PIPELINE LP UNIT LTD PARTN 726503105 228 5,230 SH   DFND 1 5,230 0 0
PLAINS GP HOLDINGS LP-CL A SHS A REP LTPN 72651A108 44,114 1,707,200 SH   DFND 1 1,324,100 0 383,100
PLY GEM HLDGS INC COMMON 72941W100 4,405 373,600 SH   DFND 3 373,600 0 0
POTASH CORP OF SASKATCHEWAN COM 73755L107 269 8,683 SH   DFND 1 8,683 0 0
PROCTER & GAMBLE CO/THE COM 742718109 6,355 81,230 SH   DFND 1 81,230 0 0
PROLOGIS INC COM 74340W103 316,947 8,543,051 SH   DFND 1 6,616,229 0 1,926,822
PULTEGROUP INC COM 745867101 29,433 1,460,700 SH   DFND 1 1,175,700 0 285,000
RICE MIDSTREAM PARTNERS LP UNIT LTD PARTN 762819100 5,950 342,720 SH   DFND 1 342,720 0 0
Rouse Common Stock 779287101 316,988 19,387,624 SH   DFND 2 19,387,624 0 0
ROYAL DUTCH SHELL-SPON ADR-B SPON ADR B 780259107 13,873 241,900 SH   DFND 1 241,900 0 0
SBA COMMUNICATIONS CORP-CL A COM 78388J106 162,226 1,411,032 SH   DFND 1 1,195,032 0 216,000
SEMPRA ENERGY COM 816851109 184,122 1,860,945 SH   DFND 1 1,617,745 0 243,200
SIMON PROPERTY GROUP INC COM 828806109 436,380 2,522,139 SH   DFND 1 1,984,849 0 537,290
SL GREEN REALTY CORP COM 78440X101 179,802 1,636,198 SH   DFND 1 1,248,198 0 388,000
SM ENERGY CO COM 78454L100 641 13,900 SH   DFND 1 13,900 0 0
SOUTHWEST GAS CORP COM 844895102 3,677 69,100 SH   DFND 1 69,100 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 41,890 203,500 SH Put DFND 3 203,500 0 0
SPECTRA ENERGY CORP COM 847560109 35,626 1,092,817 SH   DFND 1 1,092,817 0 0
SUMMIT MIDSTREAM PARTNERS LP COM UNIT LTD 866142102 6,750 204,300 SH   DFND 1 204,300 0 0
SUNOCO LOGISTICS PARTNERS LP COM UNITS 86764L108 57,362 1,508,330 SH   DFND 1 1,237,330 0 271,000
SUNSTONE HOTEL INVESTORS INC COM 867892101 27,027 1,800,594 SH   DFND 1 1,389,794 0 410,800
SYNGENTA AG-ADR SPONSORED ADR 87160A100 465 5,694 SH   DFND 1 5,694 0 0
TALLGRASS ENERGY GP LP SHS CL A 874696107 11,658 362,600 SH   DFND 1 262,300 0 100,300
TARGA RESOURCES CORP COM 87612G101 49,990 560,300 SH   DFND 1 501,500 0 58,800
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 55,347 1,433,861 SH   DFND 1 1,179,261 0 254,600
TECUMSEH PRODS CO COMMON 878895309 2,170 878,750 SH   DFND 4 878,750 0 0
TEEKAY CORP COM Y8564W103 12,923 301,792 SH   DFND 1 301,792 0 0
TEEKAY OFFSHORE PARTNERS LP PARTNERSHIP UN Y8565J101 15,885 785,197 SH   DFND 1 785,197 0 0
TEREX CORP COM 880779103 891 38,340 SH   DFND 1 38,340 0 0
TESCO CORP COM 88157K101 179 16,400 SH   DFND 1 16,400 0 0
THOMPSON CREEK METALS CO INC COMMON 884768102 562 685,902 SH   DFND 3 685,902 0 0
TOLL BROTHERS INC COM 889478103 20,309 531,800 SH   DFND 1 341,200 0 190,600
TRANSCANADA CORP COM 89353D107 4,393 108,150 SH   DFND 1 108,150 0 0
TRINITY INDS INC COMMON 896522109 9,515 360,000 SH   DFND 3 360,000 0 0
TRINITY INDS INC COMMON 896522109 2,643 100,000 SH Call DFND 3 100,000 0 0
UNION PACIFIC CORP COM 907818108 161,786 1,696,400 SH   DFND 1 1,460,800 0 235,600
UNITED CONTINENTAL HOLDINGS COM 910047109 859 16,202 SH   DFND 1 16,202 0 0
UTI WORLDWIDE INC ORD G87210103 926 92,715 SH   DFND 1 92,715 0 0
VECTOR GROUP LTD COM 92240M108 2,649 112,900 SH   DFND 1 112,900 0 0
VENTAS INC COM 92276F100 231,745 3,732,399 SH   DFND 1 2,919,299 0 813,100
VERIZON COMMUNICATIONS INC COM 92343V104 350 7,500 SH   DFND 1 7,500 0 0
VORNADO REALTY TRUST SH BEN UNIT 929042109 206,181 2,171,925 SH   DFND 1 1,590,745 0 581,180
WABCO HOLDINGS INC COM 92927K102 1,324 10,700 SH   DFND 1 10,700 0 0
WEYERHAEUSER CO COM 962166104 16,808 533,582 SH   DFND 1 377,372 0 156,210
WILLIAMS COS INC COM 969457100 269,320 4,692,808 SH   DFND 1 4,124,708 0 568,100
WILLIAMS PARTNERS LP COM UNIT LTD PAR 96949L105 74,795 1,544,398 SH   DFND 1 1,245,256 0 299,142
WP GLIMCHER INC COM 92939N102 79,083 5,844,980 SH   DFND 1 4,501,016 0 1,343,964
XCEL ENERGY INC COM 98389B100 2,088 64,900 SH   DFND 1 64,900 0 0