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
ACADIA RLTY TR COM SH BEN INT 004239109 16,101 492,683 SH   DFND 1 374,256 0 118,427
AGRIUM INC COM 008916108 5,801 57,692 SH   DFND 1 0 0 57,692
AMEREN CORP COM 023608102 55,807 1,063,800 SH   DFND 1 990,800 0 73,000
AMERICAN CAMPUS CMNTYS INC COM 024835100 101,919 2,047,800 SH   DFND 1 1,628,200 0 419,600
AMERICAN HOMES 4 RENT CL A 02665T306 139,005 6,625,576 SH   DFND 1 5,337,276 0 1,288,300
AMERICAN TOWER CORP NEW COM 03027X100 281,502 2,663,723 SH   DFND 1 2,431,244 0 232,479
AMERICAN WTR WKS CO INC NEW COM 030420103 81,550 1,127,001 SH   DFND 1 1,055,501 0 71,500
APPLE INC COM 037833100 7,767 67,060 SH   DFND 1 67,060 0 0
ARCH COAL INC CLA 039380407 542 6,943 SH   DFND 1 6,943 0 0
ARCHROCK PARTNERS L P COM UNITS REPSTG 03957U100 2,890 180,200 SH   DFND 1 180,200 0 0
AVALONBAY CMNTS INC COM 053484101 153,220 864,917 SH   DFND 1 696,326 0 168,591
AVANGRID INC COM 05351W103 6,504 171,700 SH   DFND 1 171,700 0 0
B & G FOODS INC NEW COM 05508R106 605 13,810 SH   DFND 1 13,810 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 6,755 188,800 SH   DFND 1 0 0 188,800
BP PLC SPONSORED ADR 055622104 14,631 391,406 SH   DFND 1 227,186 0 164,220
BANK AMER CORP COM 060505104 1,130 51,135 SH   DFND 1 47,160 0 3,975
BAYTEX ENERGY CORP COM 07317Q105 1,279 262,040 SH   DFND 1 243,630 0 18,410
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 39,851 2,295,580 SH   DFND 1 2,152,880 0 142,700
BOSTON PROPERTIES INC COM 101121101 83,988 667,740 SH   DFND 1 531,040 0 136,700
BRIXMOR PPTY GROUP INC COM 11120U105 137,094 5,614,019 SH   DFND 1 4,519,819 0 1,094,200
BROOKDALE SR LIVING INC COM 112463104 136,635 11,001,213 SH   DFND 1 8,948,312 0 2,052,901
BROOKFIELD GLOBL LISTED INFR COM SHS 11273Q109 1,643 128,057 SH   DFND 1 0 0 128,057
BROOKFIELD REAL ASSETS INCOM SHS BEN INT 112830104 846 37,899 SH   DFND 1 0 0 37,899
BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 1,753 26,490 SH   DFND 1 26,490 0 0
CBL & ASSOC PPTS INC COM 124830100 148,034 12,872,520 SH   DFND 1 10,484,085 0 2,388,435
GROUPE CGI INC CL A SUB VTG 39945C109 7,203 150,247 SH   DFND 1 0 0 150,247
CALATLANTIC GROUP INC COM 128195104 3,194 93,900 SH   DFND 1 93,900 0 0
CANADIAN NATL RY CO COM 136375102 17,710 263,400 SH   DFND 1 244,200 0 19,200
CARE CAP PPTYS INC COM 141624106 71,112 2,844,482 SH   DFND 1 2,305,857 0 538,625
CENTURYLINK INC COM 156700106 1,090 45,820 SH   DFND 1 45,820 0 0
CHENIERE ENERGY INC COM NEW 16411R208 51,920 1,253,200 SH   DFND 1 1,178,200 0 75,000
CHENIERE ENERGY PARTNERS LP COM UNIT 16411Q101 8,179 283,800 SH   DFND 1 283,800 0 0
CHEVRON CORP NEW COM 166764100 5,891 50,050 SH   DFND 1 0 0 50,050
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 37,676 4,340,600 SH   DFND 1 4,049,000 0 291,600
CITIGROUP INC COM NEW 172967424 1,699 28,580 SH   DFND 1 26,580 0 2,000
CIVEO CORP CDA COM 17878Y108 5,897 2,680,361 SH   DFND 1 2,680,361 0 0
COCA COLA CO COM 191216100 6,708 161,800 SH   DFND 1 161,800 0 0
COMMUNICATIONS SALES&LEAS IN COM 20341J104 67,117 2,641,351 SH   DFND 1 2,149,951 0 491,400
CONE MIDSTREAM PARTNERS LP COM UNIT REPST 206812109 3,872 164,400 SH   DFND 1 164,400 0 0
CORENERGY INFRASTRUCTURE TR DEP SHS REPSTG 21870U304 268 10,900 SH   DFND 1 10,900 0 0
CORECIVIC INC COM 21871N101 2,111 86,300 SH   DFND 1 86,300 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 5,571 64,200 SH   DFND 1 64,200 0 0
CYRUSONE INC COM 23283R100 134,732 3,012,123 SH   DFND 1 2,433,497 0 578,626
DDR CORP COM 23317H102 24,776 1,622,500 SH   DFND 1 1,390,600 0 231,900
DEVON ENERGY CORP NEW COM 25179M103 1,165 25,500 SH   DFND 1 23,700 0 1,800
EPR PPTYS PFD C CNV 5.75% 26884U208 97 3,403 SH   DFND 1 3,403 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 25,787 336,291 SH   DFND 1 307,791 0 28,500
EV ENERGY PARTNERS LP COM UNITS 26926V107 33 16,011 SH   DFND 1 16,011 0 0
EDISON INTL COM 281020107 62,854 873,097 SH   DFND 1 824,597 0 48,500
LILLY ELI & CO COM 532457108 1,528 20,770 SH   DFND 1 19,300 0 1,470
ENLINK MIDSTREAM PARTNERS LP COM UNIT REP LTD 29336U107 144 7,800 SH   DFND 1 7,800 0 0
ENABLE MIDSTREAM PARTNERS LP COM UNIT RP IN 292480100 14,637 930,500 SH   DFND 1 874,900 0 55,600
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 8,707 336,192 SH   DFND 1 336,192 0 0
ENBRIDGE ENERGY PARTNERS L P COM 29250R106 45,450 1,783,750 SH   DFND 1 1,654,750 0 129,000
ENBRIDGE INC COM 29250N105 157,726 3,752,212 SH   DFND 1 3,392,841 0 359,371
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 22,583 1,169,500 SH   DFND 1 1,042,800 0 126,700
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 80,451 2,246,594 SH   DFND 1 2,091,594 0 155,000
ENTERPRISE PRODS PARTNERS L COM 293792107 113,045 4,180,661 SH   DFND 1 3,848,461 0 332,200
EQUITY COMWLTH COM SH BEN INT 294628102 14,942 494,102 SH   DFND 1 385,002 0 109,100
EQUITY COMWLTH CUM PFD S D 6.5% 294628201 641 25,046 SH   DFND 1 25,046 0 0
ESSEX PPTY TR INC COM 297178105 128,934 554,555 SH   DFND 1 440,555 0 114,000
EXXON MOBIL CORP COM 30231G102 5,055 56,000 SH   DFND 1 0 0 56,000
FIRST MAJESTIC SILVER CORP COM 32076V103 1,607 210,579 SH   DFND 1 0 0 210,579
FORD MTR CO DEL COM PAR $0.01 345370860 1,514 124,800 SH   DFND 1 124,800 0 0
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 7,104 534,157 SH   DFND 1 0 0 534,157
GENERAL ELECTRIC CO COM 369604103 2,378 75,250 SH   DFND 1 75,250 0 0
GENERAL MLS INC COM 370334104 8,011 129,696 SH   DFND 1 129,696 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 587 34,193 SH Call DFND 1 34,193 0 0
GENERAL MTRS CO COM 37045V100 776 22,276 SH   DFND 1 22,276 0 0
GRAMERCY PPTY TR COM 385002100 105,116 11,450,516 SH   DFND 1 9,122,437 0 2,328,079
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 49,632 2,308,469 SH   DFND 1 1,876,540 0 431,929
HIGHWOODS PPTYS INC COM 431284108 79,269 1,553,986 SH   DFND 1 1,254,986 0 299,000
HILTON WORLDWIDE HLDGS INC COM 43300A104 95,757 3,520,492 SH   DFND 1 2,798,243 0 722,249
HUDSON PAC PPTYS INC COM 444097109 65,137 1,872,830 SH   DFND 1 1,488,830 0 384,000
ION GEOPHYSICAL CORP COM NEW 462044207 226 37,750 SH   DFND 1 37,750 0 0
JOHNSON & JOHNSON COM 478160104 8,832 76,656 SH   DFND 1 76,656 0 0
KELLOGG CO COM 487836108 7,232 98,120 SH   DFND 1 98,120 0 0
KEYCORP NEW COM 493267108 1,690 92,520 SH   DFND 1 86,020 0 6,500
KILROY RLTY CORP COM 49427F108 150,064 2,049,500 SH   DFND 1 1,628,700 0 420,800
KINDER MORGAN INC DEL COM 49456B101 195,091 9,420,150 SH   DFND 1 8,703,350 0 716,800
LASALLE HOTEL PPTYS COM SHS BEN INT 517942108 107,173 3,517,333 SH   DFND 1 2,836,168 0 681,165
LENNAR CORP CL A 526057104 3,044 70,900 SH   DFND 1 70,900 0 0
LEXINGTON REALTY TRUST PFD CONV SER C 529043309 322 6,459 SH   DFND 1 6,459 0 0
LIFE STORAGE INC COM 53223X107 18,484 216,800 SH   DFND 1 172,900 0 43,900
MGM GROWTH PPTYS LLC CL A COM 55303A105 81,895 3,235,681 SH   DFND 1 2,701,581 0 534,100
MGM RESORTS INTERNATIONAL COM 552953101 5,198 180,300 SH   DFND 1 180,300 0 0
MPLX LP COM UNIT REP LTD 55336V100 45,307 1,308,697 SH   DFND 1 1,194,744 0 113,953
MCDONALDS CORP COM 580135101 7,784 63,950 SH   DFND 1 63,950 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 77,832 6,327,840 SH   DFND 1 5,125,840 0 1,202,000
MONDELEZ INTL INC CL A 609207105 12,296 277,370 SH   DFND 1 273,200 0 4,170
NRG YIELD INC CL C 62942X405 1,504 95,200 SH   DFND 1 95,200 0 0
NRG YIELD INC CL A NEW 62942X306 7,918 515,500 SH   DFND 1 515,500 0 0
NEW GOLD INC CDA COM 644535106 1,274 363,581 SH   DFND 1 0 0 363,581
NEW HOME CO INC COM 645370107 3,929 335,553 SH   DFND 1 335,553 0 0
NEXTERA ENERGY INC COM 65339F101 31,466 263,400 SH   DFND 1 263,400 0 0
NISOURCE INC COM 65473P105 57,023 2,575,579 SH   DFND 1 2,455,224 0 120,355
NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 1,968 68,100 SH   DFND 1 68,100 0 0
ONE GAS INC COM 68235P108 20,220 316,131 SH   DFND 1 297,231 0 18,900
OMEGA HEALTHCARE INVS INC COM 681936100 97,548 3,120,526 SH   DFND 1 2,572,204 0 548,322
PG&E CORP COM 69331C108 195,071 3,209,989 SH   DFND 1 2,987,189 0 222,800
PNC FINL SVCS GROUP INC COM 693475105 1,951 16,680 SH   DFND 1 15,500 0 1,180
PATTERN ENERGY GROUP INC CL A 70338P100 4,309 226,900 SH   DFND 1 226,900 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 2,963 99,600 SH   DFND 1 99,600 0 0
PEMBINA PIPELINE CORP COM 706327103 22,610 721,917 SH   DFND 1 721,917 0 0
PFIZER INC COM 717081103 8,068 248,395 SH   DFND 1 244,325 0 4,070
PHILIP MORRIS INTL INC COM 718172109 6,977 76,265 SH   DFND 1 76,265 0 0
PHILLIPS 66 PARTNERS LP COM UNIT REP INT 718549207 13,828 284,300 SH   DFND 1 257,100 0 27,200
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 39,445 1,221,600 SH   DFND 1 1,109,700 0 111,900
POTASH CORP SASK INC COM 73755L107 5,751 317,900 SH   DFND 1 0 0 317,900
PROCTER AND GAMBLE CO COM 742718109 6,830 81,230 SH   DFND 1 81,230 0 0
PUBLIC STORAGE COM 74460D109 103,852 464,660 SH   DFND 1 368,460 0 96,200
QTS RLTY TR INC COM CL A 74736A103 9,637 194,100 SH   DFND 1 153,800 0 40,300
RICE MIDSTREAM PARTNERS LP UNIT LTD PARTN 762819100 26,494 1,077,881 SH   DFND 1 950,481 0 127,400
RIO TINTO PLC SPONSORED ADR 767204100 6,625 172,250 SH   DFND 1 0 0 172,250
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 15,353 264,850 SH   DFND 1 158,350 0 106,500
SBA COMMUNICATIONS CORP COM 78388J106 194,384 1,882,467 SH   DFND 1 1,673,767 0 208,700
SM ENERGY CO COM 78454L100 777 22,540 SH   DFND 1 20,960 0 1,580
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 2,934 80,500 SH   DFND 1 80,500 0 0
SEMPRA ENERGY COM 816851109 72,872 724,085 SH   DFND 1 688,985 0 35,100
SIMON PPTY GROUP INC NEW COM 828806109 402,264 2,264,105 SH   DFND 1 1,832,848 0 431,257
SOUTHWEST GAS CORP COM 844895102 40,173 524,310 SH   DFND 1 499,110 0 25,200
SPECTRA ENERGY CORP COM 847560109 13,000 316,369 SH   DFND 1 316,369 0 0
STATOIL ASA SPONSORED ADR 85771P102 5,864 321,500 SH   DFND 1 0 0 321,500
SUNCOR ENERGY INC NEW COM 867224107 6,225 189,500 SH   DFND 1 0 0 189,500
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 29,827 1,241,752 SH   DFND 1 1,143,752 0 98,000
TOTAL S A SPONSORED ADR 89151E109 5,278 103,550 SH   DFND 1 0 0 103,550
TRI POINTE GROUP INC COM 87265H109 1,770 154,200 SH   DFND 1 154,200 0 0
TARGA RES CORP COM 87612G101 88,661 1,581,262 SH   DFND 1 1,516,362 0 64,900
TESORO LOGISTICS LP COM UNIT LP 88160T107 2,693 53,000 SH   DFND 1 53,000 0 0
TOLL BROTHERS INC COM 889478103 2,486 80,184 SH   DFND 1 80,184 0 0
TRANSCANADA CORP COM 89353D107 224,705 4,988,873 SH   DFND 1 4,591,273 0 397,600
UNION PAC CORP COM 907818108 17,895 172,600 SH   DFND 1 160,000 0 12,600
VALEANT PHARMACEUTICALS INTL COM 91911K102 1,060 73,189 SH   DFND 1 0 0 73,189
VENTAS INC COM 92276F100 2,063 33,000 SH   DFND 1 33,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 400 7,500 SH   DFND 1 7,500 0 0
VORNADO RLTY TR SH BEN INT 929042109 181,534 1,739,329 SH   DFND 1 1,391,752 0 347,577
WASHINGTON PRIME GROUP NEW COM 93964W108 49,396 4,745,048 SH   DFND 1 3,822,519 0 922,529
WELLTOWER INC WF UTILITIES INC 95040Q104 143,544 2,144,688 SH   DFND 1 1,705,588 0 439,100
WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 36,896 627,908 SH   DFND 1 578,908 0 49,000
WEYERHAEUSER CO COM 962166104 13,494 448,458 SH   DFND 1 300,248 0 148,210
WHITING PETE CORP NEW COM 966387102 1,225 101,900 SH   DFND 1 94,800 0 7,100
WILLIAMS COS INC DEL COM 969457100 117,536 3,774,432 SH   DFND 1 3,557,313 0 217,119
WILLIAMS PARTNERS L P NEW COM UNIT LTD PAR 96949L105 18,369 483,002 SH   DFND 1 483,002 0 0
General Growth Properties Common Stock 370023103 6,450,676 258,233,612 SH   DFND 2 2,877,575 0 0
Brookfield Canada Office Properties Common Stock 112823109 206,132 10,564,117 SH   SOLE 2 0 0 0
Equity One Inc. Common Stock 294752100 39 1,259 SH   DFND 2 1,259 0 0
Norbord Inc. COM 65548P403 437,403 17,322,897 SH   DFND 2 0 0 0
ATKORE INTL GROUP INC COMMON 047649108 2,671 111,727 SH   DFND 3 111,727 0 0
BROOKDALE SR LIVING INC COMMON 112463104 6,831 550,000 SH   DFND 3 550,000 0 0
CALPINE CORP COMMON 131347304 5,144 450,000 SH   DFND 3 450,000 0 0
CARE CAP PPTYS INC COMMON 141624106 2,705 108,200 SH Put DFND 3 108,200 0 0
CIVEO CORP CDA COMMON 17878Y108 3,692 1,677,985 SH   DFND 3 1,677,985 0 0
DYNEGY INC NEW DEL COMMON 26817R108 2,327 275,000 SH   DFND 3 275,000 0 0
CURRENCYSHARES EURO TR EURO SHS 23130C108 38,348 375,000 SH Put DFND 3 375,000 0 0
GENCO SHIPPING & TRADING LTD COMMON Y2685T131 1,107 150,000 SH   DFND 3 150,000 0 0
HELCA MNG CO COMMON 422704106 2,882 550,000 SH   DFND 3 550,000 0 0
INTERACTIVE BROKERS GROUP IN COMMON 45841N107 7,302 200,000 SH   DFND 3 200,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 13,485 100,000 SH Put DFND 3 100,000 0 0
ISHARES TR 20 YR TR BD ETF 464287432 19,061 160,000 SH Put DFND 3 160,000 0 0
SPDR SERIES TRUST S&P INS ETF 78464A789 24,885 300,000 SH Call DFND 3 300,000 0 0
KRATON CORP COMMON 50077C106 12,816 450,000 SH   DFND 3 450,000 0 0
ISHARES TR IBOXX INV CP ETF 464287242 41,013 350,000 SH Put DFND 3 350,000 0 0
PARKER DRILLING CO COMMON 701081101 1,950 750,000 SH   DFND 3 750,000 0 0
SERVICE CORP INTL COMMON 817565104 11,360 400,000 SH   DFND 3 400,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 78,236 350,000 SH Put DFND 3 350,000 0 0
TERRAFORM PWR INC CL A COM 88104R100 8,006 625,000 SH   DFND 3 625,000 0 0
ISHARES MSCI TURKEY ETF 464286715 4,871 150,000 SH Put DFND 3 150,000 0 0
TRANSALTA CORPORATION COMMON SHARES 89346D107 77,510 14,007,164 SH   DFND 4 14,007,164 0 0
TERRAFORM POWER INC COMMON SHARES 88104R100 133,865 10,450,000 SH   DFND 4 10,450,000 0 0
KKR & CO L P DEL COM 48248M102 99,967 6,495,561 SH   DFND   6,495,561 0 0
Norbord Inc. COM 65548P403 709,130 28,084,344 SH   DFND   0 0 0
BROOKFIELD INFRAST PARTNERS LP INT UNIT LP Units G16252101 8,355 249,645 SH   DFND   249,645 0 0
BROOKFIELD PPTY PARTNERS LP LP UNIT LP Units G16249107 1,106,807 50,332,307 SH   DFND   50,332,307 0 0
BROOKFIELD RENEWABLE ENERGY PARTNERS LP LIMITED PARTNERSHIP LP Units G16258108 1,515,599 51,125,944 SH   DFND   51,125,944 0 0
Brookfield Business Partners LP LP Units G16234109 596,309 24,784,250 SH   DFND   24,784,250 0 0