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
Ally Finl Inc COM 02005N100 4,322 183,000 SH   DFND 3 183,000 0 0
American Axle & Mfg Hldgs In COM 024061103 7,974 353,000 SH   DFND 3 353,000 0 0
BHP Billiton Ltd Sponsored ADR 088606108 1,467 31,000 SH Put DFND 3 31,000 0 0
Boise Cascade Co Del COM 09739D100 8,552 230,200 SH   DFND 3 230,200 0 0
Freeport-McMoran Inc CL B 35671D857 2,453 105,000 SH Put DFND 3 105,000 0 0
General Mtrs Co COM 37045V100 6,982 200,000 SH Call DFND 3 200,000 0 0
Golar Lng Ltd Bermuda COM G9456A100 2,553 70,000 SH   DFND 3 70,000 0 0
Good Year Tire & Rubber Co COM 382550101 7,857 275,000 SH   DFND 3 275,000 0 0
Ishares TR China Lg-Cap ETF 464287184 9,614 231,000 SH Put DFND 3 231,000 0 0
Ply Gem Hldgs Inc Common Stock 72941W100 2,603 186,200 SH   DFND 3 186,200 0 0
SPDR S&P 500 ETF TR Tr Unit 78462F103 49,535 241,000 SH Put DFND 3 241,000 0 0
SPDR Series Trust S&P Oilgas Exp 78464A730 3,590 75,000 SH Put DFND 3 75,000 0 0
WCI Cmntys Inc Common Stock 92923C807 6,345 324,033 SH   DFND 3 324,033 0 0
BROOKFIELD INFRAST PARTNERS LP INT UNIT LP Units G16252101 2,047 48,930 SH   DFND   48,930 0 0
Brookfield Residential Properties Inc COM 11283W104 1,960,724 81,493,112 SH   DFND   81,493,112 0 0
GENERAL MOTORS CO *W EXP 07/10/201 37045V126 1,028 60,000 SH   DFND   0 0 60,000
BROOKFIELD PPTY PARTNERS LP LP UNIT LP Units G16249107 1,034,179 45,249,901 SH   DFND   45,249,901 0 0
MACK-CALI REALTY CORP COM 554489104 17,287 906,975 SH   DFND 2 0 0 906,975
EQUITY ONE, INC. COM 294752100 32 1,259 SH   DFND 2 0 0 1,259
AGL RES INC COM 001204106 59,906 1,099,000 SH   DFND 1 870,300 0 228,700
AES CORP COM 00130H105 1,832 133,050 SH   DFND 1 133,050 0 0
AK STL HLDG CORP COM 001547108 44 7,400 SH   DFND 1 7,400 0 0
AGREE REALTY CORP COM 008492100 19,431 625,000 SH   DFND 1 451,800 0 173,200
AGRIUM INC COM 008916108 47 500 SH   DFND 1 500 0 0
ALEXANDERS INC COM 014752109 28,598 65,414 SH   DFND 1 37,646 0 27,768
ALLEGHENY TECHNOLOGIES INC COM 01741R102 37 1,060 SH   DFND 1 1,060 0 0
AMERICAN TOWER CORP NEW COM 03027X100 505,575 5,114,563 SH   DFND 1 4,034,063 0 1,080,500
AMERICAN WTR WKS CO INC NEW COM 030420103 113,396 2,127,511 SH   DFND 1 1,717,911 0 409,600
ANTERO MIDSTREAM PARTNERS LP UNT LTD PARTN 03673L103 3,828 139,200 SH   DFND 1 139,200 0 0
APPLE INC COM 037833100 11,667 105,700 SH   DFND 1 105,700 0 0
ARMOUR RESIDENTIAL REIT INC COM 042315101 4,082 1,109,122 SH   DFND 1 1,109,122 0 0
ATLAS PIPELINE PARTNERS LP UNIT L P INT 049392103 32,908 1,207,193 SH   DFND 1 1,081,793 0 125,400
AVALONBAY CMNTYS INC COM 053484101 126,863 776,440 SH   DFND 1 520,688 0 255,752
AXIALL CORP COM 05463D100 51 1,200 SH   DFND 1 1,200 0 0
B&G FOODS INC NEW COM 05508R106 413 13,810 SH   DFND 1 13,810 0 0
BP PLC SPONSORED ADR 055622104 7,144 187,409 SH   DFND 1 187,409 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 83,706 4,710,546 SH   DFND 1 3,680,946 0 1,029,600
BOISE CASCADE CO DEL COM 09739D100 59 1,600 SH   DFND 1 1,600 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 66,320 4,150,210 SH   DFND 1 2,516,054 0 1,634,156
BREITBURN ENERGY PARTNERS LP COM UT LTD PTN 106776107 92 13,075 SH   DFND 1 13,075 0 0
BRIXMOR PPTY GROUP INC COM 11120U105 99,065 3,988,123 SH   DFND 1 2,713,654 0 1,274,469
BROOKDALE SR LIVING INC COM 112463104 70,804 1,930,835 SH   DFND 1 1,272,339 0 658,496
BROOKFIELD HIGH INCOME FD IN COM 11272P102 105 11,800 SH   DFND 1 11,800 0 0
BROOKFIELD MTG OPP INC FD IN COM 112792106 386 23,450 SH   DFND 1 23,450 0 0
CBL & ASSOC PPTYS INC COM 124830100 290,368 14,952,000 SH   DFND 1 10,425,801 0 4,526,199
CRH PLC ADR 12626K203 49 2,050 SH   DFND 1 2,050 0 0
CVR PARTNERS LP COM 126633106 38 3,900 SH   DFND 1 3,900 0 0
CABOT OIL & GAS CORP COM 127097103 74 2,500 SH   DFND 1 2,500 0 0
CAMDEN PPTY TR SH BEN INT 133131102 103,536 1,402,163 SH   DFND 1 946,739 0 455,424
CAMERON INTERNATIONAL CORP COM 13342B105 45 900 SH   DFND 1 900 0 0
CANADIAN PAC RY LTD COM 13645T100 58 300 SH   DFND 1 300 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 109 10,690 SH   DFND 1 10,690 0 0
CENTERPOINT ENERGY INC COM 15189T107 117,769 5,026,400 SH   DFND 1 3,997,300 0 1,029,100
CENTURYLINK INC COM 156700106 1,814 45,820 SH   DFND 1 45,820 0 0
CHESAPEAKE ENERGY CORP COM 165167107 88 4,500 SH   DFND 1 4,500 0 0
CIMAREX ENERGY CO COM 171798101 64 600 SH   DFND 1 600 0 0
COCA COLA CO COM 191216100 6,831 161,800 SH   DFND 1 161,800 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 60,481 9,615,386 SH   DFND 1 7,532,286 0 2,083,100
CONCHO RES INC COM 20605P101 70 700 SH   DFND 1 700 0 0
CORENERGY INFRASTRUCTURE TR COM 21870U205 13,854 2,137,959 SH   DFND 1 1,549,959 0 588,000
CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER 226344109 59,731 7,374,137 SH   DFND 1 5,530,337 0 1,843,800
CROWN CASTLE INTL CORP NEW COM 22822V101 259,796 3,301,092 SH   DFND 1 2,614,492 0 686,600
DCT INDUSTRIAL TRUST INC COM NEW 233153204 59,399 1,665,690 SH   DFND 1 1,130,884 0 534,806
DAKOTA PLAINS H;DGS INC COM 234255107 4,061 2,307,333 SH   DFND 1 2,307,333 0 0
DEERE & CO COM 244199105 29 330 SH   DFND 1 330 0 0
DOMINION DIAMOND CORP COM 257287102 52 2,900 SH   DFND 1 2,900 0 0
DOMINION MIDSTREAM PARTNERS COM UT REP LTD 257454108 2,411 61,500 SH   DFND 1 61,500 0 0
DOMINION RES INC VA NEW COM 25746U109 2,568 33,400 SH   DFND 1 33,400 0 0
DOUGLAS EMMETT INC COM 25960P109 169,833 5,980,045 SH   DFND 1 4,084,508 0 1,895,537
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 32,759 985,533 SH   DFND 1 649,027 0 336,506
DYNEGY INC NEW DEL COM 26817R108 6 185 SH   DFND 1 185 0 0
E HOUSE CHINA HLDGS LTD ADR 26852W103 10,716 1,480,090 SH   DFND 1 1,480,090 0 0
EPR PPTYS CONV PFD 9% SR E 26884U307 2,314 73,498 SH   DFND 1 73,498 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 49,993 568,101 SH   DFND 1 401,001 0 167,100
EV ENERGY PARTNERS LP COM UNITS 26926V107 57,108 2,963,584 SH   DFND 1 2,507,539 0 456,045
EAGLE MATERIALS INC COM 26969P108 40 520 SH   DFND 1 520 0 0
EDISON INTL COM 281020107 13,718 209,500 SH   DFND 1 209,500 0 0
EMERGE ENERGY SVCS LP COM REP PARTN 29102H108 38,831 719,100 SH   DFND 1 719,100 0 0
ENABLE MIDSTREAM PARTNERS LP COM UNIT RP IN 292480100 4,896 252,500 SH   DFND 1 252,500 0 0
ENBRIDGE INC COM 29250N105 6,940 135,000 SH   DFND 1 135,000 0 0
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 24,037 619,680 SH   DFND 1 619,680 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 24,700 380,000 SH   DFND 1 380,000 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 100,873 1,757,982 SH   DFND 1 1,338,082 0 419,900
ENLINK MIDSTREAM PARTNERS LP COM UNIT REP LTD 29336U107 226 7,800 SH   DFND 1 7,800 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 114,753 3,176,982 SH   DFND 1 2,198,382 0 978,600
EQUITY COMWLTH CUM PFD S D 6.5% 294628201 231 9,600 SH   DFND 1 9,600 0 0
EXTERRAN PARTNERS LP COM UNITS 30225N105 7,184 332,300 SH   DFND 1 332,300 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 1,934 124,800 SH   DFND 1 124,800 0 0
FRANCO NEVADA CORP COM 351858105 49 1,000 SH   DFND 1 1,000 0 0
FRONTIER COMMUNICATIONS CORP COM 35906A108 4,233 634,644 SH   DFND 1 634,644 0 0
GENERAL ELECTRIC CO COM 369604103 1,902 75,250 SH   DFND 1 75,250 0 0
GENERAL MLS INC COM 370334104 6,917 129,696 SH   DFND 1 129,696 0 0
GENERAL MTRS CO COM 37045V100 6,713 192,300 SH   DFND 1 192,300 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V118 864 34,193 SH   DFND 1 34,193 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 586 34,193 SH   DFND 1 34,193 0 0
GRAMERCY PPTY TR INC COM 38489R100 16,925 2,452,900 SH   DFND 1 1,333,400 0 1,119,500
HCP INC COM 40414L109 63,848 1,450,101 SH   DFND 1 1,011,207 0 438,894
HSBC HLDGS PLC SPON ADR NEW 404280406 8,473 179,400 SH   DFND 1 179,400 0 0
HIGHWOODS PPTYS INC COM 431284108 136,488 3,082,377 SH   DFND 1 2,043,093 0 1,039,284
HOLLY ENERGY PARTNERS L P COM UT LTD PTN 435763107 3,009 100,600 SH   DFND 1 100,600 0 0
HORSEHEAD HLDG CORP COM 440694305 52 3,300 SH   DFND 1 3,300 0 0
HOST HOTELS & RESORTS INC COM 44107P104 97,474 4,100,706 SH   DFND 1 2,718,527 0 1,382,179
INTL PAPER CO COM 460146103 34 630 SH   DFND 1 630 0 0
INTREPID POTASH INC COM 46121Y102 49 3,500 SH   DFND 1 3,500 0 0
IRON MTN INC COM 46284V101 59,433 1,537,334 SH   DFND 1 1,042,771 0 494,563
ITC HLDGS CORP COM 465685105 63,827 1,578,700 SH   DFND 1 1,266,900 0 311,800
JPMORGAN CHASE & CO COM 46625H100 6,577 105,100 SH   DFND 1 105,100 0 0
JOHNSON & JOHNSON COM 478160104 8,016 76,656 SH   DFND 1 76,656 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 74,017 606,544 SH   DFND 1 494,444 0 112,100
KELLOGG CO COM 487836108 6,421 98,120 SH   DFND 1 98,120 0 0
KINDER MORGAN INC DEL COM 49456B101 156,039 3,688,000 SH   DFND 1 2,953,600 0 734,400
LEJU HLDGS LTD SPONSORED ADS 50187J108 3,581 332,818 SH   DFND 1 332,818 0 0
LA QUINTA HLDGS INC COM 50420D108 17,648 800,000 SH   DFND 1 580,100 0 219,900
LAREDO PETROLEUM INC COM 516806106 68 6,600 SH   DFND 1 6,600 0 0
LEXINGTON REALTY TRUST COM 529043101 39,997 3,642,750 SH   DFND 1 2,711,250 0 931,500
LIBERTY PPTY TRUST SH BEN INT 531172104 121,818 3,237,249 SH   DFND 1 2,193,096 0 1,044,153
MPLX LP COM UNIT REP LTD 55336V100 1,066 14,500 SH   DFND 1 14,500 0 0
MACK CALI RLTY CORP COM 554489104 9,049 474,744 SH   DFND 1 344,444 0 130,300
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 64,268 956,505 SH   DFND 1 672,011 0 284,494
MARLIN MIDSTREAM PARTNERS LP COM UTLTD PTN IN 57118V100 1,818 100,000 SH   DFND 1 100,000 0 0
MARTIN MARIETTA MATLS INC COM 573284106 47 430 SH   DFND 1 430 0 0
MCDONALDS CORP COM 580135101 5,992 63,950 SH   DFND 1 63,950 0 0
METHANEX CORP COM 59151K108 41 900 SH   DFND 1 900 0 0
MID-AMER APT CMNTYS INC COM 59522J103 133,251 1,784,288 SH   DFND 1 1,135,017 0 649,271
MONDELEZ INTL INC CL A 609207105 7,873 216,750 SH   DFND 1 216,750 0 0
MONSANTO CO NEW COM 61166W101 48 400 SH   DFND 1 400 0 0
NRG ENERGY INC COM NEW 629377508 1 25 SH   DFND 1 25 0 0
NRG YIELD INC COM CL A 62942X108 1,199 25,436 SH   DFND 1 25,436 0 0
NATIONAL HEALTH INVS INC COM 63633D104 47,033 672,291 SH   DFND 1 461,291 0 211,000
NEXTERA ENERGY INC COM 65339F101 2,413 22,700 SH   DFND 1 22,700 0 0
NISOURCE INC COM 65473P105 88,150 2,078,034 SH   DFND 1 1,729,834 0 348,200
NOBLE ENERGY INC COM 655044105 76 1,600 SH   DFND 1 1,600 0 0
NORFOLK SOUTHERN CORP COM 655844108 11,597 105,800 SH   DFND 1 105,800 0 0
NORTH AMERN ENERGY PARTNERS COM 656844107 204 64,982 SH   DFND 1 64,982 0 0
NORTHEAST UTILS COM 664397106 92,895 1,735,700 SH   DFND 1 1,384,200 0 351,500
NUCOR CORP COM 670346105 39 790 SH   DFND 1 790 0 0
OCEANEERING INTL INC COM 675232102 47 800 SH   DFND 1 800 0 0
ONEOK INC NEW COM 682680103 72,096 1,448,000 SH   DFND 1 1,190,200 0 257,800
OUTFRONT MEDIA INC COM 69007J106 270,515 10,078,797 SH   DFND 1 6,921,647 0 3,157,150
PBF LOGISTICS LP UNIT LTD PTNR 69318Q104 34 1,600 SH   DFND 1 1,600 0 0
PG&E CORP COM 69331C108 61,593 1,156,900 SH   DFND 1 924,400 0 232,500
PACKAGING CORP AMER COM 695156109 34 440 SH   DFND 1 440 0 0
PARKWAY PPTYS INC COM 70159Q104 52,525 2,856,186 SH   DFND 1 1,828,286 0 1,027,900
PATTERN ENERGY GROUP INC CL A 70338P100 8,912 361,400 SH   DFND 1 361,400 0 0
PEMBINA PIPELINE CORP COM 706327103 43,146 1,185,005 SH   DFND 1 1,185,005 0 0
PHILIP MORRIS INTL INC COM 718172109 5,644 69,300 SH   DFND 1 69,300 0 0
PLUM CREEK TIMBER CO INC COM 729251108 51 1,200 SH   DFND 1 1,200 0 0
PROCTER & GAMBLE CO COM 742718109 7,399 81,230 SH   DFND 1 81,230 0 0
RICE ENERGY INC COM 762760106 69 3,300 SH   DFND 1 3,300 0 0
RICE MIDSTREAM PARTNERS LP UNIT LTD PARTN 762819100 3,876 231,400 SH   DFND 1 231,400 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 15,741 226,300 SH   DFND 1 226,300 0 0
SBA COMMUNICATIONS CORP COM 78388J106 169,482 1,530,175 SH   DFND 1 1,258,075 0 272,100
SL GREEN RLTY CORP COM 78440X101 183,268 1,539,807 SH   DFND 1 1,030,725 0 509,082
SM ENERGY CO COM 78454L100 69 1,800 SH   DFND 1 1,800 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 16,679 549,201 SH   DFND 1 363,438 0 185,763
SANDERSON FARMS INC COM 800013104 42 500 SH   DFND 1 500 0 0
SCHLUMBERGER LTD COM 806857108 77 900 SH   DFND 1 900 0 0
SEMGROUP CORP CL A 81663A105 3,967 58,000 SH   DFND 1 58,000 0 0
SEMPRA ENERGY COM 816851109 190,832 1,713,645 SH   DFND 1 1,450,945 0 262,700
SIMON PPTY GROUP INC NEW COM 828806109 299,448 1,644,327 SH   DFND 1 1,123,133 0 521,194
SOUTHCROSS ENERGY PARTNERS L COM UNIT LTDPT 84130C100 1,924 120,998 SH   DFND 1 120,998 0 0
SPECTRA ENERGY CORP COM 847560109 123,874 3,412,502 SH   DFND 1 2,952,602 0 459,900
STILLWATER MNG CO COM 86074Q102 55 3,750 SH   DFND 1 3,750 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 96 2,300 SH   DFND 1 2,300 0 0
TALLGRASS ENERGY PARTNERS LP COM UNIT 874697105 40 900 SH   DFND 1 900 0 0
TARGA RES CORP COM 87612G101 74,977 707,000 SH   DFND 1 581,200 0 125,800
TERRAFORM PWR INC CL A COM 88104R100 1,022 33,100 SH   DFND 1 33,100 0 0
TOLL BROTHERS INC COM 889478103 23,773 693,700 SH   DFND 1 503,100 0 190,600
TRANSCANADA CORP COM 89353D107 5,310 108,150 SH   DFND 1 108,150 0 0
UIL HLDG CORP COM 902748102 31,047 713,060 SH   DFND 1 569,060 0 144,000
UNION PAC CORP COM 907818108 158,419 1,329,800 SH   DFND 1 1,118,800 0 211,000
VALERO ENERGY CORP NEW COM 91913Y100 69 1,400 SH   DFND 1 1,400 0 0
VALERO ENERGY PARTNERS LP COM UNT REP LP 91914J102 1,008 23,300 SH   DFND 1 23,300 0 0
VECTOR GROUP LTD COM 92240M108 1,074 50,400 SH   DFND 1 50,400 0 0
VENTAS INC COM 92276F100 189,868 2,648,096 SH   DFND 1 1,697,797 0 950,299
VERIZON COMMUNICATIONS INC COM 92343V104 351 7,500 SH   DFND 1 7,500 0 0
VIVINT SOLAR INC COM 92854Q106 430 46,600 SH   DFND 1 46,600 0 0
VORNADO RLTY TR SH BEN INT 929042109 268,386 2,280,057 SH   DFND 1 1,487,780 0 792,277
WCI CMNTYS INC COM PAR $0.01 92923C807 39,787 2,032,000 SH   DFND 1 1,746,800 0 285,200
WASHINGTON PRIME GROUP INC COM 92939N102 119,488 6,938,929 SH   DFND 1 4,780,138 0 2,158,791
WESTERN REFNG INC COM 959319104 64 1,700 SH   DFND 1 1,700 0 0
WEYERHAEUSER CO COM 962166104 17,908 498,982 SH   DFND 1 344,972 0 154,010
WILLIAMS COS INC DEL COM 969457100 237,621 5,287,508 SH   DFND 1 4,540,008 0 747,500
WINDSTREAM HLDGS INC COM 97382A101 452 54,900 SH   DFND 1 54,900 0 0
WPX ENERGY INC COM 98212B103 50 4,300 SH   DFND 1 4,300 0 0
XCEL ENERGY INC COM 98389B100 1,922 53,500 SH   DFND 1 53,500 0 0
TEEKAY CORPORATION COM Y8564W103 112,520 2,211,035 SH   DFND 1 1,829,535 0 381,500
BROOKFIELD RENEWABLE ENERGY PARTNERS L P LIMITED PARTNERSHIP PARTNERSHIP UNIT G16258108 1,242,037 40,026,986 SH   DFND   40,026,986 0 0
TECUMSEH PRODS CO COM 878895309 2,715 878,750 SH   DFND 4 878,750 0 0
General Growth Properties COM 370023103 8,749,984 311,055,268 SH   DFND 2 311,055,268 0 0
Rouse COM 779287101 367,388 19,837,416 SH   DFND 2 19,837,416 0 0
Brookfield Canada Office Properties TR UNIT 112823109 241,073 10,564,117 SH   DFND 2 10,564,117 0 0