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
NATIONAL RETAIL PPTYS INC COM COM 637417106 868 28,628 SH   SOLE   0 0 28,628
OMEGA HEALTHCARE INVS INC COM COM 681936100 1,020 34,234 SH   SOLE   0 0 34,234
PS BUSINESS PKS INC CALIF COM COM 69360J107 859 11,245 SH   SOLE   0 0 11,245
PENNSYLVANIA RL ESTATE INVT SH BEN INT SH BEN INT 709102107 753 39,722 SH   SOLE   0 0 39,722
PFIZER INC COM COM 717081103 38,402 1,230,291 SH   SOLE   0 0 1,230,291
PIEDMONT OFFICE REALTY TR IN COM CL A COM CL A 720190206 1,516 91,799 SH   SOLE   0 0 91,799
PROCTER & GAMBLE CO COM COM 742718109 980 12,040 SH   SOLE   0 0 12,040
PUBLIC SVC ENTERPRISE GROUP COM COM 744573106 46,720 1,429,654 SH   SOLE   0 0 1,429,654
PUBLIC STORAGE COM COM 74460D109 6,197 41,172 SH   SOLE   0 0 41,172
RLJ LODGING TR COM COM 74965L101 897 36,901 SH   SOLE   0 0 36,901
REALTY INCOME CORP COM COM 756109104 1,321 35,397 SH   SOLE   0 0 35,397
REGENCY CTRS CORP COM COM 758849103 1,210 26,137 SH   SOLE   0 0 26,137
SL GREEN RLTY CORP COM COM 78440X101 2,494 27,008 SH   SOLE   0 0 27,008
SENIOR HSG PPTYS TR SH BEN INT SH BEN INT 81721M109 1,228 55,244 SH   SOLE   0 0 55,244
SIMON PPTY GROUP INC NEW COM COM 828806109 9,289 61,049 SH   SOLE   0 0 61,049
SOUTHERN CO COM COM 842587107 38,476 917,600 SH   SOLE   0 0 917,600
SPECTRA ENERGY CORP COM COM 847560109 41,796 1,151,094 SH   SOLE   0 0 1,151,094
SYSCO CORP COM COM 871829107 40,450 1,096,885 SH   SOLE   0 0 1,096,885
TAUBMAN CTRS INC COM COM 876664103 934 14,622 SH   SOLE   0 0 14,622
TELEFONICA BRASIL SA SPONSORED ADR SPONSORED ADR 87936R106 39,556 2,017,700 SH   SOLE   0 0 2,017,700
TWO HBRS INVT CORP COM COM 90187B101 39,598 4,185,150 SH   SOLE   0 0 4,185,150
UDR INC COM COM 902653104 39,566 1,662,629 SH   SOLE   0 0 1,662,629
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF TT WRLD ST ETF 922042742 2,702 45,500 SH   SOLE   0 0 45,500
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF F FTSE EUROPE ETF 922042874 9,436 160,490 SH   SOLE   0 0 160,490
VENTAS INC COM COM 92276F100 2,810 49,066 SH   SOLE   0 0 49,066
VANGUARD INDEX FDS TOTAL STK MKT TOTAL STK MKT 922908769 13,620 142,000 SH   SOLE   0 0 142,000
VORNADO RLTY TR SH BEN INT SH BEN INT 929042109 6,921 77,953 SH   SOLE   0 0 77,953
WASHINGTON REAL ESTATE INVT SH BEN INT SH BEN INT 939653101 814 34,882 SH   SOLE   0 0 34,882
WEINGARTEN RLTY INVS SH BEN INT SH BEN INT 948741103 1,413 51,566 SH   SOLE   0 0 51,566
ALEXANDRIA REAL ESTATE EQ IN COM COM 15271109 1,138 17,889 SH   SOLE   0 0 17,889
ALTRIA GROUP INC COM COM 02209S103 49,514 1,264,517 SH   SOLE   0 0 1,264,517
AMERICAN CAMPUS CMNTYS INC COM COM 24835100 684 21,258 SH   SOLE   0 0 21,258
AMERICAN INTL GROUP INC *W EXP 01/19/202 *W EXP 01/19/202 26874156 2 108 SH   SOLE   0 0 108
AMERICAN INTL GROUP INC COM NEW COM NEW 26874784 344 6,754 SH   SOLE   0 0 6,754
APARTMENT INVT & MGMT CO CL A CL A 03748R101 2,056 79,377 SH   SOLE   0 0 79,377
APPLE INC COM COM 37833100 462 825 SH   SOLE   0 0 825
ASHFORD HOSPITALITY PRIME IN COM ADDED COM ADDED 44102101 264 14,549 SH   SOLE   0 0 14,549
ASHFORD HOSPITALITY TR INC COM SHS COM SHS 44103109 1,048 126,677 SH   SOLE   0 0 126,677
AVALONBAY CMNTYS INC COM COM 53484101 2,630 22,246 SH   SOLE   0 0 22,246
BRE PROPERTIES INC CL A CL A 05564E106 1,218 22,267 SH   SOLE   0 0 22,267
BIOMED REALTY TRUST INC COM COM 09063H107 38,246 2,070,896 SH   SOLE   0 0 2,070,896
BOSTON PROPERTIES INC COM COM 101121101 4,671 46,540 SH   SOLE   0 0 46,540
BRANDYWINE RLTY TR SH BEN INT NEW SH BEN INT NEW 105368203 1,244 88,345 SH   SOLE   0 0 88,345
CBL & ASSOC PPTYS INC COM COM 124830100 1,582 88,130 SH   SOLE   0 0 88,130
CPFL ENERGIA S A SPONSORED ADR SPONSORED ADR 126153105 28,768 1,759,388 SH   SOLE   0 0 1,759,388
CHEVRON CORP NEW COM COM 166764100 410 3,288 SH   SOLE   0 0 3,288
CISCO SYS INC COM COM 17275R102 4,140 180,838 SH   SOLE   0 0 180,838
COMMONWEALTH REIT COM SH BEN INT COM SH BEN INT 203233101 2,816 120,826 SH   SOLE   0 0 120,826
CONOCOPHILLIPS COM COM 20825C104 47,502 659,500 SH   SOLE   0 0 659,500
CORPORATE OFFICE PPTYS TR SH BEN INT SH BEN INT 22002T108 967 40,827 SH   SOLE   0 0 40,827
DCT INDUSTRIAL TRUST INC COM COM 233153105 684 96,048 SH   SOLE   0 0 96,048
DDR CORP COM COM 23317H102 1,426 92,800 SH   SOLE   0 0 92,800
DARDEN RESTAURANTS INC COM COM 237194105 40,048 722,446 SH   SOLE   0 0 722,446
DIAMOND OFFSHORE DRILLING IN COM COM 25271C102 46,319 798,275 SH   SOLE   0 0 798,275
DIGITAL RLTY TR INC COM COM 253868103 1,807 36,805 SH   SOLE   0 0 36,805
DOUGLAS EMMETT INC COM COM 25960P109 1,004 43,150 SH   SOLE   0 0 43,150
DOW CHEM CO COM COM 260543103 1,055 23,780 SH   SOLE   0 0 23,780
DR PEPPER SNAPPLE GROUP INC COM COM 26138E109 39,998 804,327 SH   SOLE   0 0 804,327
DUKE REALTY CORP COM NEW COM NEW 264411505 2,170 144,288 SH   SOLE   0 0 144,288
EL PASO PIPELINE PARTNERS L COM UNIT LPI COM UNIT LPI 283702108 33,341 908,302 SH   SOLE   0 0 908,302
EQUITY LIFESTYLE PPTYS INC COM COM 29472R108 985 27,198 SH   SOLE   0 0 27,198
EQUITY ONE COM COM 294752100 762 34,000 SH   SOLE   0 0 34,000
EQUITY RESIDENTIAL SH BEN INT SH BEN INT 29476L107 5,122 98,754 SH   SOLE   0 0 98,754
ESSEX PPTY TR INC COM COM 297178105 1,292 9,006 SH   SOLE   0 0 9,006
EXTRA SPACE STORAGE INC COM COM 30225T102 746 17,715 SH   SOLE   0 0 17,715
FEDERAL REALTY INVT TR SH BEN INT NEW SH BEN INT NEW 313747206 1,455 14,356 SH   SOLE   0 0 14,356
FELCOR LODGING TR INC COM COM 31430F101 1,537 188,401 SH   SOLE   0 0 188,401
FOREST CITY ENTERPRISES INC CL A CL A 345550107 1,933 101,224 SH   SOLE   0 0 101,224
GENERAL ELECTRIC CO COM COM 369604103 41,073 1,437,289 SH   SOLE   0 0 1,437,289
HCP INC COM COM 40414L109 3,834 105,571 SH   SOLE   0 0 105,571
HASBRO INC COM COM 418056107 40,240 717,600 SH   SOLE   0 0 717,600
HEALTHCARE RLTY TR COM COM 421946104 580 27,261 SH   SOLE   0 0 27,261
HEALTH CARE REIT INC COM COM 42217K106 2,583 48,233 SH   SOLE   0 0 48,233
HIGHWOODS PPTYS INC COM COM 431284108 1,266 35,029 SH   SOLE   0 0 35,029
HOME PROPERTIES INC COM COM 437306103 1,239 23,118 SH   SOLE   0 0 23,118
HOSPITALITY PPTYS TR COM SH BEN INT COM SH BEN INT 44106M102 19,511 707,959 SH   SOLE   0 0 707,959
IAMGOLD CORP COM COM 450913108 10,178 2,998,222 SH   SOLE   0 0 2,998,222
INTEL CORP COM COM 458140100 43,548 1,646,208 SH   SOLE   0 0 1,646,208
INTEGRYS ENERGY GROUP INC COM COM 45822P105 38,580 695,050 SH   SOLE   0 0 695,050
INTERNATIONAL BUSINESS MACHS COM COM 459200101 656 3,500 SH   SOLE   0 0 3,500
ISHARES U.S. REAL ES ETF U.S. REAL ES ETF 464287739 1,056 16,750 SH   SOLE   0 0 16,750
KKR & CO L P DEL COM UNITS COM UNITS 48248M102 19,404 781,650 SH   SOLE   0 0 781,650
KILROY RLTY CORP COM COM 49427F108 857 17,095 SH   SOLE   0 0 17,095
KIMCO RLTY CORP COM COM 49446R109 2,559 129,610 SH   SOLE   0 0 129,610
LEXINGTON REALTY TRUST COM COM 529043101 1,003 98,280 SH   SOLE   0 0 98,280
LIBERTY PPTY TR SH BEN INT SH BEN INT 531172104 1,709 50,467 SH   SOLE   0 0 50,467
LILLY ELI & CO COM COM 532457108 448 8,800 SH   SOLE   0 0 8,800
LORILLARD INC COM COM 544147101 19,056 368,668 SH   SOLE   0 0 368,668
MACERICH CO COM COM 554382101 42,298 705,086 SH   SOLE   0 0 705,086
MACK CALI RLTY CORP COM COM 554489104 1,450 67,532 SH   SOLE   0 0 67,532
MARKET VECTORS ETF TR OIL SVCS ETF OIL SVCS ETF 57060U191 273 5,700 SH   SOLE   0 0 5,700
MATTEL INC COM COM 577081102 39,618 816,337 SH   SOLE   0 0 816,337
MAXIM INTEGRATED PRODS INC COM COM 57772K101 38,810 1,364,250 SH   SOLE   0 0 1,364,250
MERCK & CO INC NEW COM COM 58933Y105 49,357 967,560 SH   SOLE   0 0 967,560
MID-AMER APT CMNTYS INC COM COM 59522J103 1,665 27,419 SH   SOLE   0 0 27,419
PROSENSA HLDG N V SHS USD SHS USD N71546100 9,323 1,996,253 SH   SOLE   1,996,253 0 0