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 PRTN LP STOCK 00434L109 1,193 25,000 SH   SOLE   25,000 0 0
AMERICAN REALTY CAP PROP STOCK 02917T104 1,526 100,000 SH   SOLE   100,000 0 0
APARTMENT INVEST STOCK 03748R101 2,253 75,000 SH   SOLE   75,000 0 0
ASHFORD HOSPITAL STOCK 044103109 1,202 105,000 SH   SOLE   105,000 0 0
ASHFORD HOSPITALITY TRUS STOCK 044103505 527 20,000 SH   SOLE   20,000 0 0
ASSOC ESTATES STOCK 045604105 4,020 250,000 SH   SOLE   250,000 0 0
ATLAS PIPELINE P STOCK 049392103 1,146 30,000 SH   SOLE   30,000 0 0
ATLAS RESOURCE PTNR LP STOCK 04941A101 1,643 75,000 SH   SOLE   75,000 0 0
BRE PROPERTIES STOCK 05564E106 1,851 37,000 SH   SOLE   37,000 0 0
BIOMED REALTY TRUST INC STOCK 09063H107 2,225 110,000 SH   SOLE   110,000 0 0
BOARDWALK PIPELINE PART STOCK 096627104 302 10,000 SH   SOLE   10,000 0 0
BOSTON PROPERTIE STOCK 101121101 5,274 50,000 SH   SOLE   50,000 0 0
CBL & ASSOC PROP STOCK 124830100 2,142 100,000 SH   SOLE   100,000 0 0
CBL & ASSOCIATES PROP STOCK 124830803 497 20,000 SH   SOLE   20,000 0 0
CALUMET SPECIALTY PRODUCT STOCK 131476103 3,274 90,000 SH   SOLE   90,000 0 0
CAMDEN PROP TR STOCK 133131102 2,766 40,000 SH   SOLE   40,000 0 0
CHESAPEAKE LODGING TRUST STOCK 165240102 505 24,300 SH   SOLE   24,300 0 0
CHESAPEAKE LODGING TRUST STOCK 165240201 257 10,000 SH   SOLE   10,000 0 0
CORESITE REALTY STOCK 21870Q105 795 25,000 SH   SOLE   25,000 0 0
CUBESMART STOCK 229663109 639 40,000 SH   SOLE   40,000 0 0
DDR CORP STOCK 23317H102 1,249 75,000 SH   SOLE   75,000 0 0
DDR 6.5 12/31/49 PFD STOCK 23317H607 103 4,263 SH   SOLE   4,263 0 0
DDR 6.25 12/31/49 STOCK 23317H805 166 7,000 SH   SOLE   7,000 0 0
DIAMONDROCK HOSP STOCK 252784301 886 95,103 SH   SOLE   95,103 0 0
DIGITAL REALTY STOCK 253868103 4,880 80,000 SH   SOLE   80,000 0 0
DIGITAL REALTY TRUST PFD STOCK 253868889 324 14,400 SH   SOLE   14,400 0 0
DOUGLAS EMMETT STOCK 25960P109 499 20,000 SH   SOLE   20,000 0 0
DUPONT FABROS TE STOCK 26613Q106 4,340 179,700 SH   SOLE   179,700 0 0
DUPONT FABROS TECHNOLOGY STOCK 26613Q304 199 7,800 SH   SOLE   7,800 0 0
EAGLE ROCK ENERGY PTN STOCK 26985R104 394 50,000 SH   SOLE   50,000 0 0
ENTERPRISE PRODUCTS STOCK 293792107 1,967 31,649 SH   SOLE   31,649 0 0
EQUITY ONE INC STOCK 294752100 679 30,000 SH   SOLE   30,000 0 0
EQUITY RESIDENTI STOCK 29476L107 4,355 75,000 SH   SOLE   75,000 0 0
ESSEX PROPERTY STOCK 297178105 1,589 10,000 SH   SOLE   10,000 0 0
FED REALTY INVS STOCK 313747206 2,592 25,000 SH   SOLE   25,000 0 0
FELCOR LODGING STOCK 31430F101 3,703 626,527 SH   SOLE   626,527 0 0
FELCOR LODGING TRUST INC STOCK 31430F507 747 30,000 SH   SOLE   30,000 0 0
FIRST IND REALTY STOCK 32054K103 455 30,000 SH   SOLE   30,000 0 0
Genesis Energy LP STOCK 371927104 1,037 20,000 SH   SOLE   20,000 0 0
GLIMCHER REALTY TRUST STOCK 379302102 546 50,000 SH   SOLE   50,000 0 0
HCP INC STOCK 40414L109 6,816 150,000 SH   SOLE   150,000 0 0
HANNON ARMSTRONG STOCK 41068X100 416 35,000 SH   SOLE   35,000 0 0
HEALTHCARE RLTY STOCK 421946104 2,167 84,994 SH   SOLE   84,994 0 0
HEALTH CARE REIT STOCK 42217K106 2,299 34,300 SH   SOLE   34,300 0 0
HERSHA HOSPITALITY TRUST STOCK 427825104 451 79,980 SH   SOLE   79,980 0 0
HERSHA HOSPITALITY TRUST STOCK 427825302 77 3,000 SH   SOLE   3,000 0 0
HERSHA HOSPITALITY TRUST STOCK 427825401 243 10,000 SH   SOLE   10,000 0 0
HOME PROPERTIES STOCK 437306103 2,680 41,000 SH   SOLE   41,000 0 0
HOST HOTELS & RE STOCK 44107P104 3,444 204,150 SH   SOLE   204,150 0 0
HUDSON PACIFIC PROP STOCK 444097109 553 26,000 SH   SOLE   26,000 0 0
KILROY REALTY STOCK 49427F108 530 10,000 SH   SOLE   10,000 0 0
KILROY REALTY CORP STOCK 49427F801 337 13,985 SH   SOLE   13,985 0 0
KIMCO REALTY STOCK 49446R109 2,143 100,000 SH   SOLE   100,000 0 0
KINDER MORGAN ENERGY STOCK 494550106 854 10,000 SH   SOLE   10,000 0 0
LASALLE HOTEL PROPERTIES STOCK 517942108 618 25,000 SH   SOLE   25,000 0 0
LASALLE HOTEL PROPERTIES STOCK 517942801 230 10,000 SH   SOLE   10,000 0 0
LEXINGTON REALTY STOCK 529043101 1,168 100,000 SH   SOLE   100,000 0 0
MACERICH CO STOCK 554382101 2,439 40,000 SH   SOLE   40,000 0 0
MARKWEST ENERGY PRTN STOCK 570759100 1,985 29,700 SH   SOLE   29,700 0 0
MID-AMERICA APPT COMM STOCK 59522J103 1,755 25,900 SH   SOLE   25,900 0 0
MID-CON ENERGY PARTNERS STOCK 59560V109 451 20,000 SH   SOLE   20,000 0 0
NATL HEALTH INVESTORS STOCK 63633D104 3,005 50,200 SH   SOLE   50,200 0 0
NATIONAL RETAIL STOCK 637417106 86 2,500 SH   SOLE   2,500 0 0
PEBBLEBROOK HOTEL TRUST STOCK 70509V100 259 10,000 SH   SOLE   10,000 0 0
PEBBLEBROOK HOTEL TRUST STOCK 70509V308 1,041 40,000 SH   SOLE   40,000 0 0
PENN REAL ESTATE INVEST STOCK 709102404 106 4,000 SH   SOLE   4,000 0 0
PROLOGIS INC STOCK 74340W103 3,206 85,000 SH   SOLE   85,000 0 0
RLJ LODGING TRUST STOCK 74965L101 112 5,000 SH   SOLE   5,000 0 0
REGENCY CENTERS STOCK 758849103 1,016 20,000 SH   SOLE   20,000 0 0
SL GREEN REALTY STOCK 78440X101 1,764 20,000 SH   SOLE   20,000 0 0
SIMON PROPERTY STOCK 828806109 9,475 60,000 SH   SOLE   60,000 0 0
SOVRAN SELF STORAGE INC STOCK 84610H108 3,306 51,027 SH   SOLE   51,027 0 0
SPECTRA ENERGY STOCK 84756N109 2,300 50,000 SH   SOLE   50,000 0 0
STRATEGIC HOTELS STOCK 86272T106 665 75,000 SH   SOLE   75,000 0 0
SUN COMMUNITIES INC STOCK 866674104 2,239 45,000 SH   SOLE   45,000 0 0
SUNSTONE HOTEL INVESTORS STOCK 867892101 906 75,000 SH   SOLE   75,000 0 0
SUNSTONE HOTEL INVESTORS STOCK 867892507 838 31,934 SH   SOLE   31,934 0 0
TC PIPELINES LP STOCK 87233Q108 483 10,000 SH   SOLE   10,000 0 0
TANGER FACTORY STOCK 875465106 1,702 50,858 SH   SOLE   50,858 0 0
TARGA RESOURCES PARTNERS STOCK 87611X105 2,523 50,000 SH   SOLE   50,000 0 0
TAUBMAN CENTERS STOCK 876664103 1,353 18,000 SH   SOLE   18,000 0 0
TAUBMAN CENTERS INC STOCK 876664608 497 20,000 SH   SOLE   20,000 0 0
UDR INC STOCK 902653104 3,979 156,091 SH   SOLE   156,091 0 0
VNR 7.875 12/31/49 STOCK 92205F205 504 20,000 SH   SOLE   20,000 0 0
VENTAS INC STOCK 92276F100 1,737 25,000 SH   SOLE   25,000 0 0
VORNADO RLTY TST STOCK 929042109 2,486 30,000 SH   SOLE   30,000 0 0
VORNADO REALTY TRUST STOCK 929042844 448 20,000 SH   SOLE   20,000 0 0
WEINGARTEN RLTY STOCK 948741103 769 25,000 SH   SOLE   25,000 0 0
WESTERN GAS PARTNERS LP STOCK 958254104 1,298 20,000 SH   SOLE   20,000 0 0
WILLIAMS PARTNER STOCK 96950F104 1,032 20,000 SH   SOLE   20,000 0 0
AT&T INC STOCK 00206R102 897 25,350 SH   SOLE   25,350 0 0
ABBOTT LABS STOCK 002824100 255 7,300 SH   SOLE   7,300 0 0
ABBVIE INC STOCK 00287Y109 302 7,300 SH   SOLE   7,300 0 0
ACTAVIS INC STOCK 00507K103 776 6,150 SH   SOLE   6,150 0 0
ADOBE SYS INC STOCK 00724F101 191 4,200 SH   SOLE   4,200 0 0
AEGON NV STOCK 007924301 123 5,000 SH   SOLE   5,000 0 0
AEGON NV STOCK 007924608 83 3,000 SH   SOLE   3,000 0 0
ALTRIA GROUP INC STOCK 02209S103 899 25,700 SH   SOLE   25,700 0 0
AMERICAN EXPRESS STOCK 025816109 748 10,000 SH   SOLE   10,000 0 0
AMERICAN FINANCIAL GROUP STOCK 025932401 128 5,000 SH   SOLE   5,000 0 0
AMERICAN REALTY CAP PROP STOCK 02917T104 53 3,500 SH   SOLE   3,500 0 0
AMERICAN TOWER-A STOCK 03027X100 296 4,050 SH   SOLE   4,050 0 0
APACHE CORP STOCK 037411105 251 3,000 SH   SOLE   3,000 0 0
APPLE INC STOCK 037833100 1,505 3,800 SH   SOLE   3,800 0 0
ARBOR RLTY 7.75 12/31/49 STOCK 038923702 49 2,000 SH   SOLE   2,000 0 0
ARLINGTON ASSET STOCK 041356304 96 4,000 SH   SOLE   4,000 0 0
BGC PARTNERS INC STOCK 05541T408 133 5,000 SH   SOLE   5,000 0 0
BANK OF AMERICA STOCK 060505104 683 53,100 SH   SOLE   53,100 0 0
CR BARD INC STOCK 067383109 326 3,000 SH   SOLE   3,000 0 0
BLACKSTONE GROUP STOCK 09253U108 105 5,000 SH   SOLE   5,000 0 0
BOEING CO STOCK 097023105 986 9,630 SH   SOLE   9,630 0 0
BRISTOL-MYER SQB STOCK 110122108 223 5,000 SH   SOLE   5,000 0 0
BROADCOM CORP-A STOCK 111320107 101 3,000 SH   SOLE   3,000 0 0
CSX CORP STOCK 126408103 991 42,750 SH   SOLE   42,750 0 0
CST BRANDS STOCK 12646R105 30 966 SH   SOLE   966 0 0
CA INC STOCK 12673P105 186 6,500 SH   SOLE   6,500 0 0
CPE 10 12/31/49 PFD STOCK 13123X409 225 5,000 SH   SOLE   5,000 0 0
CALUMET SPECIALTY PRODUCT STOCK 131476103 109 3,000 SH   SOLE   3,000 0 0
CAPITAL ONE FINA STOCK 14040H105 157 2,500 SH   SOLE   2,500 0 0
CATERPILLAR INC STOCK 149123101 495 6,000 SH   SOLE   6,000 0 0
CENTURYLINK INC STOCK 156700106 64 1,800 SH   SOLE   1,800 0 0
CHEVRON CORP STOCK 166764100 473 4,000 SH   SOLE   4,000 0 0
CISCO SYSTEMS STOCK 17275R102 450 18,500 SH   SOLE   18,500 0 0
CITIGROUP INC STOCK 172967424 696 14,500 SH   SOLE   14,500 0 0
CONAGRA FOODS STOCK 205887102 87 2,500 SH   SOLE   2,500 0 0
CONOCOPHILLIPS STOCK 20825C104 914 15,100 SH   SOLE   15,100 0 0
CONS EDISON INC STOCK 209115104 274 4,700 SH   SOLE   4,700 0 0
DEVON ENERGY CO STOCK 25179M103 265 5,100 SH   SOLE   5,100 0 0
WALT DISNEY CO STOCK 254687106 1,522 24,100 SH   SOLE   24,100 0 0
DOW CHEMICAL STOCK 260543103 278 8,650 SH   SOLE   8,650 0 0
DU PONT (EI) STOCK 263534109 709 13,500 SH   SOLE   13,500 0 0
DUKE ENERGY CORP STOCK 26441C204 74 1,100 SH   SOLE   1,100 0 0
DUKE ENERGY CORP STOCK 26441C303 49 2,000 SH   SOLE   2,000 0 0
EMC CORP/MASS STOCK 268648102 243 10,300 SH   SOLE   10,300 0 0
ENTERPRISE PRODUCTS STOCK 293792107 208 3,348 SH   SOLE   3,348 0 0
EQUITY RESIDENTI STOCK 29476L107 372 6,400 SH   SOLE   6,400 0 0
EXPRESS SCRIPT STOCK 30219G108 288 4,668 SH   SOLE   4,668 0 0
EXXON MOBIL CORP STOCK 30231G102 1,450 16,050 SH   SOLE   16,050 0 0
FORD MOTOR CO STOCK 345370860 39 2,500 SH   SOLE   2,500 0 0
GENERAL ELECTRIC STOCK 369604103 1,168 50,381 SH   SOLE   50,381 0 0
GE 4.7% PFD STOCK 369622394 80 3,500 SH   SOLE   3,500 0 0
GOLDMAN SACHS GP STOCK 38141G104 698 4,615 SH   SOLE   4,615 0 0
GOLDMAN SACHS GROUP INC STOCK 38145G209 74 3,000 SH   SOLE   3,000 0 0
GOLDMAN SACHS GROUP INC STOCK 38145X111 51 2,000 SH   SOLE   2,000 0 0
HCA HOLDINGS INC STOCK 40412C101 162 4,500 SH   SOLE   4,500 0 0
HALLIBURTON CO STOCK 406216101 296 7,100 SH   SOLE   7,100 0 0
HARTFORD FINL SV STOCK 416515104 232 7,500 SH   SOLE   7,500 0 0
HELMERICH & PAYN STOCK 423452101 100 1,600 SH   SOLE   1,600 0 0
HERSHEY CO/THE STOCK 427866108 312 3,500 SH   SOLE   3,500 0 0
HEWLETT-PACKARD STOCK 428236103 198 8,000 SH   SOLE   8,000 0 0
HOME DEPOT INC STOCK 437076102 1,549 20,000 SH   SOLE   20,000 0 0
INTEL CORP STOCK 458140100 639 26,400 SH   SOLE   26,400 0 0
IBM STOCK 459200101 833 4,358 SH   SOLE   4,358 0 0
JPMORGAN CHASE STOCK 46625H100 1,210 22,927 SH   SOLE   22,927 0 0
JOHNSON&JOHNSON STOCK 478160104 902 10,510 SH   SOLE   10,510 0 0
KKR FINANCIAL HOLDINGS STOCK 48248A603 78 3,000 SH   SOLE   3,000 0 0
KIMBERLY-CLARK STOCK 494368103 311 3,200 SH   SOLE   3,200 0 0
KIMCO REALTY STOCK 49446R109 255 11,890 SH   SOLE   11,890 0 0
KIM 5.625% STOCK 49446R745 48 2,000 SH   SOLE   2,000 0 0
KRAFT FOODS GROUP INC STOCK 50076Q106 307 5,499 SH   SOLE   5,499 0 0
LTS 8 12/31/49 PFD STOCK 50575Q201 175 7,000 SH   SOLE   7,000 0 0
ESTEE LAUDER COMPANIES STOCK 518439104 520 7,900 SH   SOLE   7,900 0 0
ELI LILLY & CO STOCK 532457108 246 5,000 SH   SOLE   5,000 0 0
MARATHON OIL STOCK 565849106 173 5,000 SH   SOLE   5,000 0 0
MASCO CORP STOCK 574599106 97 5,000 SH   SOLE   5,000 0 0
MCDONALDS CORP STOCK 580135101 929 9,380 SH   SOLE   9,380 0 0
MCKESSON CORP STOCK 58155Q103 687 6,000 SH   SOLE   6,000 0 0
MERCK & CO STOCK 58933Y105 818 17,600 SH   SOLE   17,600 0 0
METLIFE INC STOCK 59156R108 315 6,875 SH   SOLE   6,875 0 0
MICROSOFT CORP STOCK 594918104 882 25,550 SH   SOLE   25,550 0 0
MILLER ENERGY 10.75% STOCK 600527204 105 5,000 SH   SOLE   5,000 0 0
MONDELEZ INTERNATIONAL STOCK 609207105 471 16,500 SH   SOLE   16,500 0 0
NEXTERA ENERGY CAPITAL STOCK 65339K605 24 1,000 SH   SOLE   1,000 0 0
NEXTERA ENERGY CAPITAL STOCK 65339K704 119 5,000 SH   SOLE   5,000 0 0
NEXTERA ENERGY PREF STOCK 65339K803 113 5,000 SH   SOLE   5,000 0 0
NUCOR CORP STOCK 670346105 87 2,000 SH   SOLE   2,000 0 0
Oaktree Capital Group LLC STOCK 674001201 105 2,000 SH   SOLE   2,000 0 0
ORACLE CORP STOCK 68389X105 946 30,800 SH   SOLE   30,800 0 0
PACKAGING CORP OF AMER STOCK 695156109 655 13,380 SH   SOLE   13,380 0 0
PEPSICO INC STOCK 713448108 1,084 13,250 SH   SOLE   13,250 0 0
PFIZER INC STOCK 717081103 793 28,300 SH   SOLE   28,300 0 0
PHILIP MORRIS STOCK 718172109 1,039 12,000 SH   SOLE   12,000 0 0
PROCTER & GAMBLE STOCK 742718109 762 9,900 SH   SOLE   9,900 0 0
PROLOGIS INC STOCK 74340W103 286 7,588 SH   SOLE   7,588 0 0
PRUDENTL FINL STOCK 744320102 219 3,000 SH   SOLE   3,000 0 0
PUBLIC STORAGE STOCK 74460D125 51 2,000 SH   SOLE   2,000 0 0
PUBLIC STORAGE STOCK 74460W404 62 2,500 SH   SOLE   2,500 0 0
QUALCOMM INC STOCK 747525103 458 7,500 SH   SOLE   7,500 0 0
QWEST CORP STOCK 74913G501 130 5,000 SH   SOLE   5,000 0 0
CTL 6 1/8 06/01/53 STOCK 74913G600 121 5,000 SH   SOLE   5,000 0 0
SCHLUMBERGER LTD STOCK 806857108 901 12,575 SH   SOLE   12,575 0 0
SENIOR HOUSING PROP TRUS STOCK 81721M208 120 5,000 SH   SOLE   5,000 0 0
SIMON PROPERTY STOCK 828806109 680 4,309 SH   SOLE   4,309 0 0
STARWOOD PROPERT STOCK 85571B105 290 11,700 SH   SOLE   11,700 0 0
SUNCOR ENERGY STOCK 867224107 118 4,000 SH   SOLE   4,000 0 0
SYMANTEC CORP STOCK 871503108 654 29,100 SH   SOLE   29,100 0 0
TARGET CORP STOCK 87612E106 551 8,000 SH   SOLE   8,000 0 0
TAUBMAN CENTERS INC STOCK 876664608 62 2,500 SH   SOLE   2,500 0 0
TELEPHONE & DATA SYSTEM STOCK 879433837 103 4,000 SH   SOLE   4,000 0 0
TESORO CORP STOCK 881609101 105 2,000 SH   SOLE   2,000 0 0
TEXAS INSTRUMENT STOCK 882508104 520 14,925 SH   SOLE   14,925 0 0
THERMO FISHER STOCK 883556102 229 2,700 SH   SOLE   2,700 0 0
3M CO STOCK 88579Y101 1,022 9,350 SH   SOLE   9,350 0 0
TIME WARNER INC STOCK 887317303 705 12,200 SH   SOLE   12,200 0 0
TRAVELERS COS IN STOCK 89417E109 360 4,500 SH   SOLE   4,500 0 0
US BANCORP STOCK 902973304 351 9,700 SH   SOLE   9,700 0 0
US AIRWAYS GROUP INC STOCK 90341W108 69 4,200 SH   SOLE   4,200 0 0
UNITED PARCEL-B STOCK 911312106 495 5,726 SH   SOLE   5,726 0 0
US CELLULAR CORP STOCK 911684405 145 5,742 SH   SOLE   5,742 0 0
UNITED TECH CORP STOCK 913017109 121 1,300 SH   SOLE   1,300 0 0
UNITEDHEALTH GRP STOCK 91324P102 1,035 15,800 SH   SOLE   15,800 0 0
VALERO ENERGY STOCK 91913Y100 302 8,700 SH   SOLE   8,700 0 0
VERIZON COMMUNIC STOCK 92343V104 1,029 20,440 SH   SOLE   20,440 0 0
VISA INC-CLASS A STOCK 92826C839 612 3,350 SH   SOLE   3,350 0 0
VORNADO REALTY TRUST STOCK 929042851 118 5,000 SH   SOLE   5,000 0 0
VORNADO REALTY TRUST STOCK 929042869 103 4,000 SH   SOLE   4,000 0 0
WAL-MART STORES STOCK 931142103 479 6,424 SH   SOLE   6,424 0 0
WELLS FARGO & CO STOCK 949746101 1,225 29,686 SH   SOLE   29,686 0 0
WELLS FARGO & COMPANY STOCK 949746721 116 5,000 SH   SOLE   5,000 0 0
WELLS FARGO & COMPANY STOCK 949746747 70 3,000 SH   SOLE   3,000 0 0
WILLIAMS PARTNER STOCK 96950F104 258 5,000 SH   SOLE   5,000 0 0
WISCONSIN ENERGY CORP STOCK 976657106 578 14,100 SH   SOLE   14,100 0 0
WYNDHAM WORLDWID STOCK 98310W108 630 11,000 SH   SOLE   11,000 0 0
WARNER CHILCOT-A STOCK B446CM7 398 20,000 SH   SOLE   20,000 0 0
TYCO INTL LTD STOCK B64GC98 254 7,700 SH   SOLE   7,700 0 0
COVIDIEN PLC STOCK B68SQD2 672 10,700 SH   SOLE   10,700 0 0
Tsakos Engy 8 12/31/49 STOCK B8DJHM0 49 2,000 SH   SOLE   2,000 0 0
PENTAIR LTD-REGISTERED STOCK B8DTTS0 107 1,847 SH   SOLE   1,847 0 0
ACCENTURE PLC-A STOCK G1151C101 626 8,700 SH   SOLE   8,700 0 0
AFLAC INC STOCK 001055300 496 20,000 SH   SOLE   20,000 0 0
AEGON NV STOCK 007924608 556 20,000 SH   SOLE   20,000 0 0
ALEXANDRIA REAL ESTATE E STOCK 015271703 1,000 40,000 SH   SOLE   40,000 0 0
AMERICAN FINANCIAL GROUP STOCK 025932401 256 10,000 SH   SOLE   10,000 0 0
AMERICAN FINANCIAL GROUP STOCK 025932500 495 20,000 SH   SOLE   20,000 0 0
ATLAS PIPELINE P STOCK 049392103 1,318 34,500 SH   SOLE   34,500 0 0
AVIVA PLC STOCK 05382A203 549 20,100 SH   SOLE   20,100 0 0
BANK OF NEW YORK MELLON STOCK 064058209 473 20,000 SH   SOLE   20,000 0 0
BOARDWALK PIPELINE PART STOCK 096627104 3,017 99,900 SH   SOLE   99,900 0 0
BUCKEYE PARTNERS LP STOCK 118230101 2,245 32,000 SH   SOLE   32,000 0 0
CBL & ASSOCIATES PROP STOCK 124830803 913 36,696 SH   SOLE   36,696 0 0
CALUMET SPECIALTY PRODUCT STOCK 131476103 2,712 74,550 SH   SOLE   74,550 0 0
CITY NATIONAL CORP STOCK 17800X202 467 20,000 SH   SOLE   20,000 0 0
COMMONWEALTH REIT STOCK 203233507 1,673 80,565 SH   SOLE   80,565 0 0
COMMONWEALTH REIT STOCK 203233705 221 10,000 SH   SOLE   10,000 0 0
CROSSTEX ENERGY LP STOCK 22765U102 1,330 64,500 SH   SOLE   64,500 0 0
DDR 6.25 12/31/49 STOCK 23317H805 386 16,276 SH   SOLE   16,276 0 0
DTE ENERGY COMPANY STOCK 233331701 239 10,000 SH   SOLE   10,000 0 0
DIGITAL REALTY TRUST INC STOCK 253868707 1,024 40,000 SH   SOLE   40,000 0 0
DIGITAL REALTY TRUST INC STOCK 253868806 500 20,000 SH   SOLE   20,000 0 0
DIGITAL REALTY TRUST PFD STOCK 253868889 450 20,000 SH   SOLE   20,000 0 0
DUKE ENERGY CORP STOCK 26441C303 491 20,000 SH   SOLE   20,000 0 0
EAGLE ROCK ENERGY PTN STOCK 26985R104 1,890 240,187 SH   SOLE   240,187 0 0
ENBRIDGE ENERGY STOCK 29250R106 2,558 83,900 SH   SOLE   83,900 0 0
ENERGY TRANSFER PARTNERS STOCK 29273R109 3,639 72,000 SH   SOLE   72,000 0 0
ENTERGY NEW ORLEANS INC STOCK 29364P509 452 20,000 SH   SOLE   20,000 0 0
ENTERGY LOUISIANA LLC STOCK 29364W504 456 20,000 SH   SOLE   20,000 0 0
FIFTH STREET FINANCE COR STOCK 31679B209 612 24,700 SH   SOLE   24,700 0 0
GENERAL ELEC CAP CORP STOCK 369622428 240 10,000 SH   SOLE   10,000 0 0
HEALTH CARE REIT INC STOCK 42217K700 1,018 40,000 SH   SOLE   40,000 0 0
HUDSON PACIFIC PROPERTIE STOCK 444097208 529 20,000 SH   SOLE   20,000 0 0
JPM 5.45 STOCK 46637G124 238 10,000 SH   SOLE   10,000 0 0
KKR FINANCIAL HOLDINGS STOCK 48248A405 832 30,000 SH   SOLE   30,000 0 0
KKR FINANCIAL HOLDINGS STOCK 48248A504 266 10,000 SH   SOLE   10,000 0 0
KIM 5.625% STOCK 49446R745 719 30,000 SH   SOLE   30,000 0 0
KIMCO REALTY CORP STOCK 49446R778 1,872 78,200 SH   SOLE   78,200 0 0
KIMCO REALTY CORP STOCK 49446R794 996 40,000 SH   SOLE   40,000 0 0
KIMCO REALTY CORP STOCK 49446R828 256 10,000 SH   SOLE   10,000 0 0
KINDER MORGAN ENERGY STOCK 494550106 3,523 41,250 SH   SOLE   41,250 0 0
NATL RETAIL PROPERTIES STOCK 637417601 508 20,000 SH   SOLE   20,000 0 0
NEXTERA ENERGY CAPITAL STOCK 65339K605 121 5,000 SH   SOLE   5,000 0 0
NEXTERA ENERGY CAPITAL STOCK 65339K704 478 20,000 SH   SOLE   20,000 0 0
NEE 5% STOCK 65339K886 339 15,000 SH   SOLE   15,000 0 0
PNC FINANCIAL SERVICES STOCK 693475832 243 10,000 SH   SOLE   10,000 0 0
PNC FINANCIAL SERVICES STOCK 693475857 255 9,500 SH   SOLE   9,500 0 0
PS BUSINESS PARKS 5.7 STOCK 69360J644 233 10,000 SH   SOLE   10,000 0 0
PS BUSINESS PARKS INC STOCK 69360J685 1,345 54,900 SH   SOLE   54,900 0 0
PS BUSINESS PARKS INC STOCK 69360J719 503 20,000 SH   SOLE   20,000 0 0
PITNEY BOWES INC STOCK 724479506 253 10,000 SH   SOLE   10,000 0 0
PROTECTIVE LIFE CORP STOCK 743674608 501 20,000 SH   SOLE   20,000 0 0
PUBLIC STORAGE STOCK 74460D125 1,533 60,000 SH   SOLE   60,000 0 0
PUBLIC STORAGE STOCK 74460D141 514 20,000 SH   SOLE   20,000 0 0
PUBLIC STORAGE STOCK 74460W206 550 22,000 SH   SOLE   22,000 0 0
PUBLIC STORAGE STOCK 74460W404 271 11,000 SH   SOLE   11,000 0 0
PUBLIC STORAGE STOCK 74460W602 459 19,000 SH   SOLE   19,000 0 0
PUBLIC STORAGE STOCK 74460W800 236 10,000 SH   SOLE   10,000 0 0
PUBLIC STORAGE STOCK 74460W875 233 10,000 SH   SOLE   10,000 0 0
QWEST CORP STOCK 74913G204 541 20,450 SH   SOLE   20,450 0 0
REGENCY CENTERS CORP STOCK 758849707 1,323 52,000 SH   SOLE   52,000 0 0
REGENCY CENTERS CORP STOCK 758849806 1,076 44,275 SH   SOLE   44,275 0 0
REGENCY ENERGY P STOCK 75885Y107 2,158 80,000 SH   SOLE   80,000 0 0
SCE TRUST I STOCK 78406T201 944 40,000 SH   SOLE   40,000 0 0
EIX 5.1 STOCK 78407R204 338 15,000 SH   SOLE   15,000 0 0
SENIOR HOUSING PROP TRUS STOCK 81721M208 957 40,000 SH   SOLE   40,000 0 0
STANLEY BLACK & DECKER I STOCK 854502705 978 40,000 SH   SOLE   40,000 0 0
STATE STREET CORP STOCK 857477509 750 30,000 SH   SOLE   30,000 0 0
TC PIPELINES LP STOCK 87233Q108 1,192 24,684 SH   SOLE   24,684 0 0
TARGA RESOURCES PARTNERS STOCK 87611X105 2,270 45,000 SH   SOLE   45,000 0 0
TAUBMAN CENTERS INC STOCK 876664608 1,005 40,462 SH   SOLE   40,462 0 0
TAUBMAN CENTERS PFD STOCK 876664707 971 40,000 SH   SOLE   40,000 0 0
TELEPHONE & DATA SYSTEM STOCK 879433795 240 10,000 SH   SOLE   10,000 0 0
US BANCORP STOCK 902973817 178 6,500 SH   SOLE   6,500 0 0
US BANCORP STOCK 902973833 281 10,000 SH   SOLE   10,000 0 0
US CELLULAR CORP STOCK 911684405 486 19,200 SH   SOLE   19,200 0 0
VENTAS REALTY LP STOCK 92276M204 236 10,000 SH   SOLE   10,000 0 0
VORNADO REALTY TRUST STOCK 929042802 1,025 40,775 SH   SOLE   40,775 0 0
VORNADO REALTY TRUST STOCK 929042844 448 20,000 SH   SOLE   20,000 0 0
VORNADO REALTY TRUST STOCK 929042851 1,415 60,000 SH   SOLE   60,000 0 0
VORNADO REALTY TRUST STOCK 929042869 516 20,000 SH   SOLE   20,000 0 0
VORNADO REALTY TRUST STOCK 929042877 404 16,000 SH   SOLE   16,000 0 0
VORNADO REALTY LP STOCK 929043602 1,088 41,159 SH   SOLE   41,159 0 0
WELLS FARGO & COMPANY STOCK 949746747 936 40,000 SH   SOLE   40,000 0 0
WILLIAMS PARTNER STOCK 96950F104 2,322 45,000 SH   SOLE   45,000 0 0