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
Access Midstream Partners L UNIT 00434L109 55,671 983,934 SH   DFND 1 649,434 0 334,500
AGRIUM INC COM 008916108 256 2,800 SH   DFND   2,800 0 0
Alexanders Inc COM 014752109 2,288 6,933 SH   DFND 1 0 0 6,933
American Capital Agency Corp COM 02503X105 22,236 1,152,700 SH   DFND 1 729,200 0 423,500
American Tower Corp New COM 03027X100 273,705 3,429,024 SH   DFND 1 2,714,724 0 714,300
Annaly Cap Mgmt Inc COM 035710409 29,667 2,975,600 SH   DFND 1 1,873,600 0 1,102,000
Apple Inc COM 037833100 4,275 7,622 SH   DFND 1 7,622 0 0
ARMOUR Residential REIT Inc COM 042315101 8,050 2,007,500 SH   DFND 1 1,262,800 0 744,700
Associated Estates Rlty Corp COM 045604105 11,104 691,823 SH   DFND 1 420,979 0 270,844
AT&T Inc COM 00206R102 2,876 80,985 SH   DFND 1 80,985 0 0
AvalonBay Cmntys Inc COM 053484101 115,582 977,606 SH   DFND 1 634,086 0 343,520
B & G Foods Inc New COM 05508R106 678 20,000 SH   DFND 1 20,000 0 0
BANK MONTREAL QUE COM 063671101 453 6,800 SH   DFND   6,800 0 0
BANK N S HALIFAX COM 064149107 500 8,000 SH   DFND   8,000 0 0
Bank of America Corporation COM 060505104 49,715 3,192,983 SH   DFND 1 3,192,983 0 0
Bank of America Corporation *W EXP 10/28/201 060505153 347 450,000 SH   DFND 1 450,000 0 0
Barrick Gold Corp COM 067901108 298 16,900 SH   DFND 1 16,900 0 0
Basic Energy Svcs Inc New COM 06985P100 4,512 285,936 SH   DFND 1 285,936 0 0
Beazer Homes USA Inc COM NEW 07556Q881 19,232 787,535 SH   DFND 1 438,655 0 348,880
Blackberry Ltd COM 09228F103 521 70,000 SH   DFND 1 70,000 0 0
BP PLC SPONSORED ADR 055622104 14,527 292,418 SH   DFND 1 292,418 0 0
BreitBurn Energy Partners LP COM UT LTD PTN 106776107 266 13,075 SH   DFND 1 13,075 0 0
British Amern Tob PLC SPONSORED ADR 110448107 945 8,800 SH   DFND 1 8,800 0 0
Brixmor Ppty Group Inc COM 11120U105 28,295 1,391,800 SH   DFND 1 901,100 0 490,700
BROOKDALE SR LIVING INC COM 112463104 1,685 62,000 SH   DFND   0 0 62,000
BROOKFIELD CDA OFFICE PPTYS TR UNIT 112823109 264,103 10,564,117 SH   DFND   0 0 10,564,117
BROOKFIELD INFRAST PARTNERS LP INT UNIT COM G16252101 1,919 48,930 SH   DFND   0 48,930 0
BROOKFIELD OFFICE PPTYS INC COM 112900105 4,800,229 249,362,561 SH   DFND   0 0 249,362,561
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 869,634 45,199,271 SH   DFND   0 45,199,271 0
BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 1,971,318 81,493,112 SH   DFND   0 81,493,112 0
Camden Ppty Tr SH BEN INT 133131102 61,200 1,075,946 SH   DFND 1 700,600 0 375,346
CANADIAN NATURAL RESOURCES COM 136385101 203 6,000 SH   DFND   6,000 0 0
CBL & Assoc Pptys Inc COM 124830100 87,313 4,861,500 SH   DFND 1 3,118,300 0 1,743,200
CDN IMPERIAL BK OF COMMERCE COM 136069101 478 5,600 SH   DFND   5,600 0 0
CenturyLink Inc COM 156700106 1,484 45,820 SH   DFND 1 45,820 0 0
Chevron Corp New COM 166764100 999 8,000 SH   DFND 1 8,000 0 0
Chicago Bridge & Iron Co NV COM 167250109 3,450 41,500 SH   DFND 1 41,500 0 0
ClubCorp Hldgs Inc COM 18948M108 23,018 1,297,500 SH   DFND 1 732,000 0 565,500
Coca Cola Co COM 191216100 6,681 161,800 SH   DFND 1 161,800 0 0
Cohen & Steers REIT and Pfd In COM 19247X100 4,774 304,100 SH   DFND 1 304,100 0 0
Cohen & Steers Slt Pfd Incm COM 19248Y107 1,982 80,268 SH   DFND 1 80,268 0 0
Companhia De Saneamento Basi SPONSORED ADR 20441A102 53,588 4,725,600 SH   DFND 1 4,276,300 0 449,300
ConocoPhillips COM 20825C104 530 7,500 SH   DFND 1 7,500 0 0
Consolidated Tomoka Ld Co COM 210226106 4,205 115,878 SH   DFND 1 60,409 0 55,469
CorEnergy Infrastructure Tr COM 21870U205 2,940 412,900 SH   DFND 1 412,900 0 0
Corporate Office Pptys Tr SH BEN INT 22002T108 42,903 1,811,024 SH   DFND 1 1,155,824 0 655,200
Crestwood Equity Partners LP UNIT LTD PARTNER 226344109 48,952 3,539,537 SH   DFND 1 3,012,037 0 527,500
Crosstex Energy L P COM 22765U102 215 7,800 SH   DFND 1 7,800 0 0
Crown Castle Intl Corp COM 228227104 152,242 2,073,290 SH   DFND 1 1,598,090 0 475,200
Crown Castle Intl Corp CNV PFD STK SR A 228227500 1,938 19,310 SH   DFND 1 19,310 0 0
CYS Invts Inc COM 12673A108 7,414 1,000,600 SH   DFND 1 629,800 0 370,800
DIANA SHIPPING INC DSX COM Y2066G104 665 50,000 SH   DFND   0 0 50,000
Douglas Emmett Inc COM 25960P109 95,826 4,114,454 SH   DFND 1 2,597,654 0 1,516,800
DuPont Fabros Technology Inc COM 26613Q106 41,431 1,676,708 SH   DFND 1 1,076,874 0 599,834
Emerge Energy Svcs LP COM REP PARTN 29102H108 6,454 145,600 SH   DFND 1 145,600 0 0
Emeritus Corp COM 291005106 2,228 102,997 SH   DFND 1 64,198 0 38,799
Enbridge Energy Management L SHS UNITS LLI 29250X103 6,732 234,740 SH   DFND 1 234,740 0 0
ENBRIDGE INC COM 29250N105 585 13,400 SH   DFND   13,400 0 0
Enbridge Inc COM 29250N105 5,897 135,000 SH   DFND 1 135,000 0 0
Energy Transfer Equity L P COM UT LTD PTN 29273V100 76,226 932,541 SH   DFND 1 679,441 0 253,100
Energy Transfer Prtnrs L P UNIT LTD PARTN 29273R109 7,929 138,500 SH   DFND 1 138,500 0 0
Enterprise Prods Partners L COM 293792107 69,492 1,048,141 SH   DFND 1 658,141 0 390,000
EPR PPTYS CONV PFD 9% SR E 26884U307 5,832 207,898 SH   DFND 1 207,898 0 0
EQT Midstream Partners LP UNIT LTD PARTN 26885B100 31,776 540,501 SH   DFND 1 438,501 0 102,000
Equity Lifestyle Pptys Inc COM 29472R108 33,500 924,648 SH   DFND 1 599,348 0 325,300
Equity Residential SH BEN INT 29476L107 157,846 3,043,107 SH   DFND 1 1,945,007 0 1,098,100
Essex Ppty Tr Inc COM 297178105 64,309 448,117 SH   DFND 1 288,417 0 159,700
EV Energy Partners LP COM UNITS 26926V107 56,953 1,678,550 SH   DFND 1 1,417,450 0 261,100
Exterran Partners LP COM UNITS 30225N105 10,045 332,300 SH   DFND 1 332,300 0 0
Frontier Communications Corp COM 35906A108 3,752 795,044 SH   DFND 1 795,044 0 0
General Electric Co COM 369604103 1,191 42,500 SH   DFND 1 42,500 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 5,124,996 255,356,037 SH   DFND 2 0 0 255,356,037
General Mls Inc COM 370334104 6,473 129,696 SH   DFND 1 129,696 0 0
GENERAL MOTORS CO *W EXP 07/10/201 37045V126 1,387 60,000 SH   DFND   0 0 60,000
General Mtrs Co COM 37045V100 26,450 647,164 SH   DFND 1 647,164 0 0
General Mtrs Co *W EXP 7/10/201 37045V118 1,354 43,447 SH   DFND 1 43,447 0 0
General Mtrs Co *W EXP 7/10/201 37045V126 1,005 43,447 SH   DFND 1 43,447 0 0
Genesee & Wyo Inc CL A 371559105 12,333 128,400 SH   DFND 1 128,400 0 0
Halliburton Co COM 406216101 16,718 329,410 SH   DFND 1 329,410 0 0
HCP Inc COM 40414L109 61,987 1,706,697 SH   DFND 1 1,119,033 0 587,664
Highwoods Pptys Inc COM 431284108 94,734 2,619,123 SH   DFND 1 1,544,815 0 1,074,308
Home Ln Servicing Solutions ORD SHS G6648D109 4,936 215,000 SH   DFND 1 215,000 0 0
Host Hotels & Resorts Inc COM 44107P104 45,025 2,316,113 SH   DFND 1 1,477,313 0 838,800
Hyatt Hotels Corp COM CL A 448579102 30,512 616,909 SH   DFND 1 398,909 0 218,000
Iron Mtn Inc COM 462846106 117,294 3,864,014 SH   DFND 1 2,451,845 0 1,412,169
iShares CORE S&P500 ETF 464287200 2,897 15,607 SH   DFND 1 15,607 0 0
iShares MSCI EMG MKT ETF 464287234 6,162 147,425 SH   DFND 1 147,425 0 0
iShares S&P 500 GRWT ETF 464287309 1,191 12,059 SH   DFND 1 12,059 0 0
iShares S&P 500 VAL ETF 464287408 778 9,103 SH   DFND 1 9,103 0 0
iShares MSCI EAFE ETF 464287465 8,943 133,290 SH   DFND 1 133,290 0 0
iShares RUS MID-CAP ETF 464287499 20,819 138,814 SH   DFND 1 138,814 0 0
iShares CORE S&P MCP ETF 464287507 5,103 38,133 SH   DFND 1 38,133 0 0
iShares RUSS 1000 ETF 464287622 1,917 18,582 SH   DFND 1 18,582 0 0
iShares RUSSELL 2000 ETF 464287655 11,016 95,493 SH   DFND 1 95,493 0 0
iShares CORE S&P SCP ETF 464287804 1,413 13,100 SH   DFND 1 13,100 0 0
iShares SP SMCP600VL ETF 464287879 2,133 19,167 SH   DFND 1 19,167 0 0
iShares SP SMCP600GR ETF 464287887 2,277 19,199 SH   DFND 1 19,199 0 0
iShares EAFE VALUE ETF 464288877 269 4,699 SH   DFND 1 4,699 0 0
iShares EAFE GRWTH ETF 464288885 289 4,037 SH   DFND 1 4,037 0 0
ITC Hldgs Corp COM 465685105 1,073 11,200 SH   DFND 1 11,200 0 0
Johnson & Johnson COM 478160104 7,020 76,656 SH   DFND 1 76,656 0 0
JPMorgan Chase & Co *W EXP 10/28/201 46634E114 1,939 100,000 SH   DFND 1 100,000 0 0
JPMorgan Chase & Co COM 46625H100 34,158 584,100 SH   DFND 1 584,100 0 0
JUST ENERGY GROUP INC COM 48213W101 239 33,368 SH   DFND   33,368 0 0
KBR Inc COM 48242W106 957 30,000 SH   DFND 1 30,000 0 0
Kellogg Co COM 487836108 5,992 98,120 SH   DFND 1 98,120 0 0
Kinder Morgan Inc DEL COM 49456B101 2,081 57,800 SH   DFND 1 57,800 0 0
Liberty Ppty Tr SH BEN INT 531172104 95,834 2,829,465 SH   DFND 1 1,814,996 0 1,014,469
LOWES COS INC COM 548661107 2,056 41,500 SH   DFND   0 0 41,500
Mack Cali Rlty Corp COM 554489104 65,656 3,056,601 SH   DFND 1 1,844,300 0 1,212,301
Markwest Energy Partners L P UNIT LTD PARTN 570759100 60,095 908,744 SH   DFND 1 683,744 0 225,000
Marlin Midstream Partners LP COM UTLTD PTN IN 57118V100 1,680 100,000 SH   DFND 1 100,000 0 0
McDonalds Corp COM 580135101 7,155 73,750 SH   DFND 1 73,750 0 0
Merck & Co Inc New COM 58933Y105 2,212 44,200 SH   DFND 1 44,200 0 0
Microsoft Corp COM 594918104 4,269 114,095 SH   DFND 1 114,095 0 0
Mid-America Apt Cmntys Inc COM 59522J103 104,585 1,721,842 SH   DFND 1 1,091,342 0 630,500
Mondelez IntL Inc CL A 609207105 7,649 216,750 SH   DFND 1 216,750 0 0
MPLX LP COM UNIT REP LTD 55336V100 34,193 767,702 SH   DFND 1 658,902 0 108,800
National Grid PLC SPON ADR NEW 636274300 16,644 254,800 SH   DFND 1 254,800 0 0
Neuberger Berman Re Es Sec F COM 64190A103 4,130 951,724 SH   DFND 1 951,724 0 0
NextEra Energy Inc COM 65339F101 788 9,200 SH   DFND 1 9,200 0 0
Niska Gas Storage Partners L UNIT LTD LIABI 654678101 185 12,500 SH   DFND 1 12,500 0 0
NiSource Inc COM 65473P105 76,058 2,313,202 SH   DFND 1 1,837,502 0 475,700
North Amern Energy Partners COM 656844107 4,100 705,698 SH   DFND 1 705,698 0 0
Northeast Utils COM 664397106 67,223 1,585,816 SH   DFND 1 1,441,216 0 144,600
NRG Yield Inc COM CL A 62942X108 1,046 26,136 SH   DFND 1 26,136 0 0
Ocwen Finl Corp COM NEW 675746309 2,773 50,000 SH   DFND 1 50,000 0 0
OGE Energy Corp COM 670837103 13,262 391,200 SH   DFND 1 391,200 0 0
PAA Nat Gas Storage L P COM UNIT LTD 693139107 4,009 174,300 SH   DFND 1 174,300 0 0
Pattern Energy Group Inc CL A 70338P100 1,031 34,000 SH   DFND 1 34,000 0 0
Patterson UTI Energy Inc COM 703481101 1,013 40,000 SH   DFND 1 40,000 0 0
Pembina Pipeline Corp COM 706327103 26,736 758,888 SH   DFND 1 758,888 0 0
Penn Natl Gaming Inc COM 707569109 7,642 533,300 SH   DFND 1 333,000 0 200,300
Philip Morris Intl Inc COM 718172109 7,867 90,300 SH   DFND 1 90,300 0 0
Plains All Amern Pipeline L UNIT LTD PARTN 726503105 5,053 97,600 SH   DFND 1 97,600 0 0
Plains GP Hldgs L P SHS A REP LTPN 72651A108 742 27,700 SH   DFND 1 27,700 0 0
Procter & Gamble Co COM 742718109 6,612 81,230 SH   DFND 1 81,230 0 0
Public Storage COM 74460D109 1,806 12,000 SH   DFND 1 12,000 0 0
QEP Midstream Partners LP COM UNIT RP LTD 74735R115 597 25,700 SH   DFND 1 25,700 0 0
QEP Res Inc. COM 74733V100 5,342 174,300 SH   DFND 1 174,300 0 0
ROUSE PPTYS INC COM 779287101 430,211 19,387,624 SH   DFND 2 0 0 19,387,624
ROYAL BANK OF CANADA COM 780087102 1,170 17,400 SH   DFND   17,400 0 0
Royal Dutch Shell PLC SPON ADR B 780259107 10,011 130,900 SH   DFND 1 130,900 0 0
SBA Communications Corp COM 78388J106 117,164 1,304,143 SH   DFND 1 1,043,943 0 260,200
Scorpio Bulkers Inc COM Y7546A106 2,512 250,000 SH   DFND 1 250,000 0 0
Select Income REIT COM SH BEN INT 81618T100 7,220 270,000 SH   DFND 1 168,700 0 101,300
SemGroup Corp CL A 81663A105 98,863 1,515,600 SH   DFND 1 1,234,800 0 280,800
Sempra Energy COM 816851109 162,393 1,809,193 SH   DFND 1 1,416,593 0 392,600
Simon Ppty Group Inc New COM 828806109 196,749 1,293,040 SH   DFND 1 860,094 0 432,946
SL Green Rlty Corp COM 78440X101 59,143 640,214 SH   DFND 1 411,363 0 228,851
SPDR S&P 500 ETF Tr TR UNIT 78462F103 28,191 152,641 SH   DFND 1 152,641 0 0
SPDR S&P MidCap 400 ETF Tr UTSER1 S&PDCRP 78467Y107 3,819 15,640 SH   DFND 1 15,640 0 0
Spectra Energy Corp COM 847560109 216,366 6,074,285 SH   DFND 1 4,891,385 0 1,182,900
Sun Life Finl Inc COM 866796105 7,170 191,100 SH   DFND 1 191,100 0 0
Superior Energy Svcs Inc COM 868157108 4,859 182,600 SH   DFND 1 182,600 0 0
Tallgrass Energy Partners LP COM UNIT 874697105 3,076 118,300 SH   DFND 1 118,300 0 0
Targa Res Corp COM 87612G101 48,291 547,700 SH   DFND 1 425,000 0 122,700
Teekay Corporation COM Y8564W103 99,443 2,071,290 SH   DFND 1 1,737,990 0 333,300
TORONTO DOMINION BK ONT COM NEW 891160509 603 6,400 SH   DFND   6,400 0 0
TRANSCANADA CORP COM 89353D107 183 4,000 SH   DFND   4,000 0 0
TransCanada Corp COM 89353D107 4,938 108,150 SH   DFND 1 108,150 0 0
TRW Automotive Hldgs Corp COM 87264S106 12,888 173,250 SH   DFND 1 173,250 0 0
Union Pac Corp COM 907818108 152,964 910,500 SH   DFND 1 737,600 0 172,900
Valero Energy Partners LP COM UNT REP LP 91914J102 6,594 191,400 SH   DFND 1 191,400 0 0
Ventas Inc COM 92276F100 160,515 2,802,279 SH   DFND 1 1,798,379 0 1,003,900
Verizon Communications Inc COM 92343V104 369 7,500 SH   DFND 1 7,500 0 0
Waste Connections Inc COM 941053100 78,168 1,791,600 SH   DFND 1 1,378,800 0 412,800
Western Refng Logistics LP COM UNIT REP LTD 95931Q205 4,566 176,500 SH   DFND 1 176,500 0 0
Weyerhaeuser Co COM 962166104 62,363 1,975,388 SH   DFND 1 1,173,588 0 801,800
Williams Cos Inc Del COM 969457100 170,297 4,415,281 SH   DFND 1 3,648,781 0 766,500
Windstream Hldgs Inc COM 97382A101 438 54,900 SH   DFND 1 54,900 0 0