13F-HR 1 a2189941z13f-hr.txt 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2008 Check here if Amendment |_|; Amendment Number: __________ This Amendment(Check only one): |_| is a restatement |_| adds new holdings entries Institutional Investment Manager Filing this Report: Name: Macquarie Group Limited Address: 1 Martin Place Sydney, NSW 2000 Australia Form 13F File Number: 028-13120 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Kevin O'Neill Title: Executive Director, Risk Management Group Phone: 61 2 8232 7386 Signature, Place, and Date of Signing /s/ Kevin O'Neill Sydney, Australia Feb. 5, 2009 ----------------------------------- [City, State] [Date] [Signature] Report Type (Check only one): |X| 13F HOLDINGS REPORT. (check here if all holdings of this reporting manager are reported in this report.) |_| 13F NOTICE. (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).) |_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 4 Form 13F Information Table Entry Total: 515 Form 13F Information Table Value Total: $1,290,741 (thousands)
List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
NO. 13F FILE # NAME --- ---------- -------------------------------------------------------- 01 28-13122 Macquarie Bank Limited 02 28-13124 Macquarie Investment Management Limited 03 28-11525 Macquarie Capital Investment Management LLC 04 28-13126 Macquarie Capital Investment Management (Australia) Ltd.
Data for Form 13F
AMOUNT AND TYPE OF SECURITY VOTING AUTHORITY MARKET ------------------ (SOLE, SHARED, OR NONE) NAME OF TITLE OF CUSIP VALUE TYPE OF INVESTMENT OTHER -------------------------- ISSUER CLASS NUMBER (X$1000) AMOUNT SECURITY DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ 3M CO COM 88579Y101 $ 11 189 SHS Defined 1 189 3M Co COM 88579Y101 $ 230 4,000 SHS Defined 2 4,000 Abbott Laboratories COM 002824100 $ 17,293 324,020 SHS Defined 2 324,020 Acadia Realty Trust COM 004239109 $ 1,060 74,368 SHS Defined 2 74,368 ACCO Brands Corp COM 00081T108 $ 290 84,000 SHS Defined 2 84,000 ACCURIDE CORP COM 004398103 $ 4 18,275 SHS Defined 2 18,275 Adobe Systems Inc COM 00724F101 $ 575 27,000 SHS Defined 2 27,000 AES CORP COM 00130H105 $ 112 13,599 SHS Defined 1 13,599 AES Corp/The COM 00130H105 $ 80 9,727 SHS Defined 2 9,727 Aetna Inc COM 00817Y108 $ 674 23,645 SHS Defined 2 23,645 AFFYMETRIX INC COM 00826T108 $ 57 18,938 SHS Defined 2 18,938 AGCO Corp COM 001084102 $ 365 15,488 SHS Defined 2 15,488 Alcoa Inc COM 013817101 $ 196 17,377 SHS Defined 2 17,377 ALEXANDER & BALDWIN COM 014482103 $ 19,321 771,009 SHS Sole 771,009 Alexandria Real Estate Equities Inc COM 015271109 $ 3,072 50,972 SHS Defined 2 50,972 Allergan Inc/United States COM 018490102 $ 1,048 26,000 SHS Defined 2 26,000 Allied Capital Corp COM 01903Q108 $ 77 28,685 SHS Defined 2 28,685 Allstate Corp/The COM 020002101 $ 2,185 66,700 SHS Defined 2 66,700 Altera Corp COM 021441100 $ 558 33,400 SHS Defined 2 33,400 ALTRIA GROUP INC COM 02209S103 $ 95 6,315 SHS Defined 1 6,315 Altria Group Inc COM 02209S103 $ 2,184 145,013 SHS Defined 2 145,013 AMB Property Corp COM 00163T109 $ 1,078 46,067 SHS Defined 2 46,067 AMERICA MOVIL-ADR SERIES L Sponsored ADR 02364W105 $ 1,338 43,175 SHS Defined 1 43,175 American Campus Communities COM 024835100 $ 875 42,758 SHS Defined 2 42,758 American Capital Ltd COM 02503Y103 $ 49 15,300 SHS Defined 2 15,300 AMERICAN ELEC PWR INC COM COM 25537101 $ 33 1,000 SHS Sole 1,000 American Electric Power Co Inc COM 025537101 $ 584 17,548 SHS Defined 2 17,548 American International Group Inc COM 026874107 $ 30 18,898 SHS Defined 2 18,898 AMERICAN SCIENCE & ENGINEERI COM 029429107 $ 793 10,720 SHS Defined 2 10,720 American Tower Corp COM 029912201 $ 1,097 37,400 SHS Defined 2 37,400 AMERICAN WATER WORKS CO INC COM 030420103 $ 163 7,800 SHS Defined 2 7,800 AMERICAN WTR WKS CO INC COM 30420103 $ 90 4,300 SHS Sole 4,300 Amerigas Partners LP COM 030975106 $ 1,747 62,113 SHS Defined 3 62,113 AMERIPRISE FINANCIAL INC COM 03076C106 $ 169 7,220 SHS Defined 1 7,220 Ameriprise Financial Inc COM 03076C106 $ 518 22,195 SHS Defined 2 22,195 AmerisourceBergen Corp COM 03073E105 $ 1,890 53,000 SHS Defined 2 53,000 Amgen Inc COM 031162100 $ 3,810 65,976 SHS Defined 2 65,976 AMR Corp COM 001765106 $ 1,013 94,900 SHS Defined 2 94,900 Anadarko Petroleum Corp COM 032511107 $ 17,436 452,300 SHS Defined 2 452,300 ANWORTH MORTGAGE ASSET CORP COM 037347101 $ 161 25,100 SHS Defined 2 25,100 Apartment Investment & Management Co COM 03748R101 $ 149 12,896 SHS Defined 2 12,896 APOLLO GOLD CORP COM 03761E102 $ 884 4,000,000 SHS Sole 4,000,000 Apollo Investment Corp COM 03761U106 $ 176 19,067 SHS Defined 2 19,067 Apple Inc COM 037833100 $ 1,613 18,900 SHS Defined 2 18,900 AQUA AMERICA INC COM 03836W103 $ 229 11,141 SHS Defined 1 11,141 Archer-Daniels-Midland Co COM 039483102 $ 499 17,300 SHS Defined 2 17,300 Arena Pharmaceuticals Inc COM 040047102 $ 131 31,400 SHS Defined 2 31,400 ARRIS GROUP INC COM 04269Q100 $ 115 14,500 SHS Defined 2 14,500 ARVINMERITOR INC COM 043353101 $ 60 21,156 SHS Defined 2 21,156 Asyst Technologies Inc COM 04648X107 $ 8 32,900 SHS Defined 2 32,900 AT&T Inc COM 00206R102 $ 1,592 55,860 SHS Defined 2 55,860 ATP Oil & Gas Corp COM 00208J108 $ 76 13,050 SHS Defined 2 13,050 Automatic Data Processing Inc COM 053015103 $ 637 16,200 SHS Defined 2 16,200 Autozone Inc COM 053332102 $ 418 3,000 SHS Defined 2 3,000 AvalonBay Communities Inc COM 053484101 $ 1,558 25,730 SHS Defined 2 25,730 Avis Budget Group Inc COM 053774105 $ 27 38,107 SHS Defined 2 38,107 BANCO SANTANDER SA-SPON ADR Sponsored ADR 05964H105 $ 109 11,438 SHS Defined 1 11,438 BANCO SANTANDER-CHILE-ADR Sponsored ADR 05965X109 $ 260 7,417 SHS Defined 1 7,417 Bank of America Corp COM 060505104 $ 2,369 168,242 SHS Defined 2 168,242 Bank of New York Mellon Corp/The COM 064058100 $ 927 32,733 SHS Defined 2 32,733 Baxter International Inc COM 071813109 $ 1,205 22,493 SHS Defined 2 22,493 BEAZER HOMES USA INC COM 07556Q105 $ 70 44,043 SHS Defined 2 44,043 Becton Dickinson & Co COM 075887109 $ 318 4,655 SHS Defined 2 4,655 Belden Inc COM 077454106 $ 1,292 61,900 SHS Defined 2 61,900 BELO CORPORATION-A COM 080555105 $ 40 25,470 SHS Defined 2 25,470 Berkshire Hathaway Inc COM 084670207 $ 225 70 SHS Defined 2 70 Best Buy Co Inc COM 086516101 $ 751 26,700 SHS Defined 2 26,700 BioMed Realty Trust Inc COM 09063H107 $ 916 78,847 SHS Defined 2 78,847 BJ Services Co COM 055482103 $ 1,415 121,250 SHS Defined 2 121,250 BLACKSTONE GROUP LP/THE COM 09253U108 $ 1,331 203,801 SHS Defined 1 203,801 Blackstone Group LP/The COM 09253U108 $ 141 21,661 SHS Defined 2 21,661 BLUE COAT SYSTEMS INC COM 09534T508 $ 608 72,430 SHS Defined 1 72,430 Boeing Co COM 097023105 $ 1,212 28,400 SHS Defined 2 28,400 Boston Properties Inc COM 101121101 $ 3,180 57,844 SHS Defined 2 57,844 BPZ RESOURCES INC COM 055639108 $ 97 15,200 SHS Defined 2 15,200 BRE Properties Inc COM 05564E106 $ 947 33,893 SHS Defined 2 33,893 Bristol-Myers Squibb Co COM 110122108 $ 1,171 50,360 SHS Defined 2 50,360 Brookfield Properties Corp COM 112900105 $ 219 28,395 SHS Defined 2 28,395 Brown-Forman Corp COM 115637209 $ 6,809 132,248 SHS Defined 2 132,248 Bunge Ltd COM G16962105 $ 894 17,276 SHS Defined 2 17,276 BURLINGTON NORTHERN SANTA FE COM 12189T104 $ 28 368 SHS Defined 1 368 Burlington Northern Santa Fe Corp COM 12189T104 $ 348 4,600 SHS Defined 2 4,600 CA Inc COM 12673P105 $ 1,488 80,300 SHS Defined 2 80,300 Camden Property Trust COM 133131102 $ 436 13,906 SHS Defined 2 13,906 CANO PETROLEUM INC COM 137801106 $ 6 14,100 SHS Defined 2 14,100 Capital One Financial Corp COM 14040H105 $ 2,729 85,570 SHS Defined 2 85,570 Capstead Mortgage Corp COM 14067E506 $ 151 14,000 SHS Defined 2 14,000 Career Education Corp COM 141665109 $ 5,015 279,569 SHS Defined 2 279,569 Carlisle Cos Inc COM 142339100 $ 1,165 56,300 SHS Defined 2 56,300 Casual Male Retail Group Inc COM 148711104 $ 19 36,900 SHS Defined 2 36,900 Caterpillar Inc COM 149123101 $ 523 11,700 SHS Defined 2 11,700 CBS Corp COM 124857202 $ 525 64,149 SHS Defined 2 64,149 Celanese Corp COM 150870103 $ 198 15,933 SHS Defined 2 15,933 Celgene Corp COM 151020104 $ 691 12,500 SHS Defined 2 12,500 CENTENNIAL COMMUNICATIONS CP COM 15133V208 $ 89 11,100 SHS Defined 2 11,100 CENTERPOINT ENERGY INC COM 15189T107 $ 89 7,055 SHS Defined 1 7,055 Centerpoint Energy Inc COM 15189T107 $ 81 6,400 SHS Defined 2 6,400 CENTERPOINT ENERGY INC COM COM 15189T107 $ 27 2,100 SHS Sole 2,100 CENTRAL GARDEN & PET CO COM 153527106 $ 89 15,263 SHS Defined 2 15,263 CENTRAL GARDEN AND PET CO-A COM 153527205 $ 147 24,901 SHS Defined 2 24,901 CF Industries Holdings Inc COM 125269100 $ 220 4,466 SHS Defined 2 4,466 Chevron Corp COM 166764100 $ 1,693 22,882 SHS Defined 2 22,882 CHINA LIFE INSURANCE CO-ADR Sponsored ADR 16939P106 $ 16,946 365,225 SHS Defined 1 365,225 CHINA MOBILE LTD-SPON ADR Sponsored ADR 16941M109 $ 40,915 804,630 SHS Defined 1 804,630 CHINA NETCOM GROUP CORP HK L SPONSORED ADR Sponsored ADR 16940Q101 $ 71 21,100 SHS Sole 21,100 CHINA UNICOM HONG KONG-ADR Sponsored ADR 16945R104 $ 9,173 751,913 SHS Defined 1 751,913 CHINA YUCHAI INTL LTD COM COM G21082105 $ 46 12,100 SHS Sole 12,100 CIA SIDERURGICA NACL-SP ADR Sponsored ADR 20440W105 $ 577 45,006 SHS Defined 1 45,006 Cigna Corp COM 125509109 $ 239 14,163 SHS Defined 2 14,163 Cimarex Energy Co COM 171798101 $ 422 15,765 SHS Defined 2 15,765 CISCO SYSTEMS INC COM 17275R102 $ 914 56,097 SHS Defined 1 56,097 Cisco Systems Inc COM 17275R102 $ 13,957 856,230 SHS Defined 2 856,230 CIT Group Inc COM 125581108 $ 258 56,900 SHS Defined 2 56,900 Citigroup Inc COM 172967101 $ 2,789 415,606 SHS Defined 2 415,606 Cliffs Natural Resources Inc COM 18683K101 $ 1,771 69,146 SHS Defined 2 69,146 Clorox Co COM 189054109 $ 650 11,700 SHS Defined 2 11,700 Coach Inc COM 189754104 $ 261 12,558 SHS Defined 2 12,558 Coca-Cola Co/The COM 191216100 $ 620 13,700 SHS Defined 2 13,700 COEUR D ALENE MINES CORP IDA COM 192108108 $ 2,129 2,477,842 SHS Sole 2,477,842 Colgate-Palmolive Co COM 194162103 $ 219 3,200 SHS Defined 2 3,200 Comcast Corp COM 20030N200 $ 1,463 86,930 SHS Defined 2 86,930 Comverse Technology Inc COM 205862402 $ 2,217 354,100 SHS Defined 2 354,100 CONOCOPHILLIPS COM 20825C104 $ 1,382 26,682 SHS Defined 1 26,682 ConocoPhillips COM 20825C104 $ 179 3,448 SHS Defined 4 3,448 ConocoPhillips COM 20825C104 $ 1,186 22,895 SHS Defined 2 22,895 Constellation Brands Inc COM 21036P108 $ 319 20,200 SHS Defined 2 20,200 Corning Inc COM 219350105 $ 2,148 225,400 SHS Defined 2 225,400 Corporate Office Properties Trust SBI MD COM 22002T108 $ 3,418 111,676 SHS Defined 2 111,676 Coventry Health Care Inc COM 222862104 $ 376 25,250 SHS Defined 2 25,250 CR Bard Inc COM 067383109 $ 9,311 110,500 SHS Defined 2 110,500 CSX Corp COM 126408103 $ 201 6,200 SHS Defined 2 6,200 CUBIST PHARMACEUTICALS INC COM 229678107 $ 707 29,260 SHS Defined 2 29,260 Cummins Inc COM 231021106 $ 246 9,215 SHS Defined 2 9,215 CV Therapeutics Inc COM 126667104 $ 123 13,400 SHS Defined 2 13,400 CVS Caremark Corp COM 126650100 $ 1,845 64,209 SHS Defined 2 64,209 Danaher Corp COM 235851102 $ 1,285 22,700 SHS Defined 2 22,700 DCT Industrial Trust Inc COM 233153105 $ 183 36,136 SHS Defined 2 36,136 Deere & Co COM 244199105 $ 1,170 30,530 SHS Defined 2 30,530 Dell Inc COM 24702R101 $ 1,068 104,300 SHS Defined 2 104,300 DELTA AIR LINES INC COM 247361702 $ 199 17,400 SHS Defined 2 17,400 Developers Diversified Rlty COM 251591103 $ 149 30,621 SHS Defined 2 30,621 Digital Realty Trust Inc COM 253868103 $ 4,173 127,192 SHS Defined 2 127,192 Discover Financial Services COM 254709108 $ 500 52,450 SHS Defined 2 52,450 DISH NETWORK CORP COM 25470M109 $ 267 24,104 SHS Defined 2 24,104 Dollar Financial Corp COM 256664103 $ 140 13,600 SHS Defined 2 13,600 DOLLAR TREE INC COM 256746108 $ 263 6,300 SHS Defined 2 6,300 DOMINION RES INC VA NEW COM COM 25746U109 $ 18 500 SHS Sole 500 DOMINION RESOURCES INC/VA COM 25746U109 $ 428 11,938 SHS Defined 1 11,938 Dominion Resources Inc/VA COM 25746U109 $ 272 7,600 SHS Defined 2 7,600 Douglas Emmett Inc COM 25960P109 $ 3,384 259,371 SHS Defined 2 259,371 DR Horton Inc COM 23331A109 $ 615 86,960 SHS Defined 2 86,960 Dr Pepper Snapple Group Inc COM 26138E109 $ 214 13,196 SHS Defined 2 13,196 DreamWorks Animation SKG Inc COM 26153C103 $ 942 37,300 SHS Defined 2 37,300 DSP Group Inc COM 23332B106 $ 156 19,500 SHS Defined 2 19,500 DST Systems Inc COM 233326107 $ 224 5,900 SHS Defined 2 5,900 DUKE ENERGY CORP COM 26441C105 $ 386 25,731 SHS Defined 1 25,731 Duke Energy Corp COM 26441C105 $ 188 12,547 SHS Defined 2 12,547 DUKE ENERGY CORP NEW COM COM 26441C105 $ 41 2,700 SHS Sole 2,700 Duke Realty Corp COM 264411505 $ 165 15,048 SHS Defined 2 15,048 DUPONT FABROS TECHNOLOGY COM 26613Q106 $ 32 15,659 SHS Defined 2 15,659 Dynegy Inc COM 26817G102 $ 150 74,990 SHS Defined 2 74,990 EastGroup Properties Inc COM 277276101 $ 2,418 68,036 SHS Defined 2 68,036 eBay Inc COM 278642103 $ 5,325 381,420 SHS Defined 2 381,420 Eddie Bauer Holdings Inc COM 071625107 $ 13 24,700 SHS Defined 2 24,700 Edison International COM 281020107 $ 212 6,600 SHS Defined 2 6,600 EF Johnson Technologies Inc COM 26843B101 $ 16 12,100 SHS Defined 2 12,100 EL PASO CORP COM 28336L109 $ 113 14,435 SHS Defined 1 14,435 El Paso Corp COM 28336L109 $ 31 3,900 SHS Defined 2 3,900 Electronic Arts Inc COM 285512109 $ 2,193 136,740 SHS Defined 2 136,740 Eli Lilly & Co COM 532457108 $ 302 7,500 SHS Sole 7,500 Eli Lilly & Co COM 532457108 $ 2,414 59,936 SHS Defined 2 59,936 Embarq Corp COM 29078E105 $ 217 6,047 SHS Defined 2 6,047 EMC Corp/Massachusetts COM 268648102 $ 1,350 128,931 SHS Defined 2 128,931 EMPRESA NAC ELEC-CHIL-SP ADR Sponsored ADR 29244T101 $ 286 8,534 SHS Defined 1 8,534 Enbridge Energy Partners LP COM 29250R106 $ 13,377 524,574 SHS Defined 3 524,574 Enbridge Energy Partners LP COM 29250R106 $ 32,547 1,279,153 SHS Defined 4 1,279,153 ENERGY PARTNERS LTD COM 29270U105 $ 27 20,000 SHS Defined 2 20,000 Energy Transfer Partners LP COM 29273R109 $ 17,169 504,818 SHS Defined 3 504,818 Energy Transfer Partners LP COM 29273R109 $ 45,655 1,344,282 SHS Defined 4 1,344,282 ENERSIS S.A. -SPONS ADR Sponsored ADR 29274F104 $ 177 13,900 SHS Defined 1 13,900 ENTERCOM COMMUNICATIONS-CL A COM 293639100 $ 22 18,249 SHS Defined 2 18,249 ENTERGY CORP COM 29364G103 $ 323 3,888 SHS Defined 1 3,888 Entergy Corp COM 29364G103 $ 266 3,200 SHS Defined 2 3,200 Enterprise Products Partners LP COM 293792107 $ 15,027 724,889 SHS Defined 3 724,889 Enterprise Products Partners LP COM 293792107 $ 41,926 2,027,234 SHS Defined 4 2,027,234 EOG Resources Inc COM 26875P101 $ 8,229 123,590 SHS Defined 2 123,590 Equity Lifestyle Properties Inc COM 29472R108 $ 240 6,249 SHS Defined 2 6,249 Equity Residential COM 29476L107 $ 2,936 98,598 SHS Defined 2 98,598 Essex Property Trust Inc COM 297178105 $ 3,367 43,923 SHS Defined 2 43,923 Estee Lauder Cos Inc/The COM 518439104 $ 6,927 223,746 SHS Defined 2 223,746 EXELON CORP COM 30161N101 $ 754 13,553 SHS Defined 1 13,553 Exelon Corp COM 30161N101 $ 11,918 214,320 SHS Defined 3 214,320 Exelon Corp COM 30161N101 $ 19,216 346,150 SHS Defined 4 346,150 Exelon Corp COM 30161N101 $ 3,014 54,195 SHS Defined 2 54,195 Express Scripts Inc COM 302182100 $ 623 11,332 SHS Defined 2 11,332 Extra Space Storage Inc COM 30225T102 $ 148 14,343 SHS Defined 2 14,343 Exxon Mobil Corp COM 30231G102 $ 4,197 52,572 SHS Defined 2 52,572 Fairpoint Communications Inc COM 305560104 $ 118 35,900 SHS Defined 2 35,900 Federal Realty Invs Trust COM 313747206 $ 4,855 78,300 SHS Defined 2 78,300 FedEx Corp COM 31428X106 $ 1,418 22,100 SHS Defined 2 22,100 First Solar Inc COM 336433107 $ 1,191 8,630 SHS Defined 2 8,630 FirstEnergy Corp COM 337932107 $ 514 10,575 SHS Defined 2 10,575 Flowers Foods Inc COM 343498101 $ 555 22,800 SHS Defined 2 22,800 Force Protection Inc COM 345203202 $ 111 18,600 SHS Defined 2 18,600 Forest Laboratories Inc COM 345838106 $ 1,655 64,974 SHS Defined 2 64,974 Fortune Brands Inc COM 349631101 $ 6,847 165,869 SHS Defined 2 165,869 Foster Wheeler Ltd COM G36535139 $ 250 10,700 SHS Defined 2 10,700 FPL Group Inc COM 302571104 $ 533 10,600 SHS Defined 2 10,600 FREEPORT-MCMORAN COPPER COM 35671D857 $ 123 5,034 SHS Defined 1 5,034 Freeport-McMoRan Copper & Gold Inc COM 35671D857 $ 1,288 52,681 SHS Defined 2 52,681 FRIEDMAN BILLINGS RAMSEY-A COM 358434108 $ 6 32,644 SHS Defined 2 32,644 FRONTIER OIL CORP COM 35914P105 $ 259 20,520 SHS Defined 2 20,520 Gannett Co Inc COM 364730101 $ 1,114 139,216 SHS Defined 2 139,216 Gap Inc/The COM 364760108 $ 569 42,500 SHS Defined 2 42,500 Genentech Inc COM 368710406 $ 19,386 233,820 SHS Defined 2 233,820 General Dynamics Corp COM 369550108 $ 703 12,200 SHS Defined 2 12,200 General Electric Co COM 369604103 $ 1,978 122,100 SHS Defined 2 122,100 General Growth Properties Inc COM 370021107 $ 41 31,600 SHS Defined 2 31,600 General Mills Inc COM 370334104 $ 2,638 43,418 SHS Defined 2 43,418 General Motors Corp COM 370442105 $ 40 12,468 SHS Defined 2 12,468 Genworth Financial Inc COM 37247D106 $ 148 52,436 SHS Defined 2 52,436 Gilead Sciences Inc COM 375558103 $ 2,369 46,322 SHS Defined 2 46,322 Globalstar Inc COM 378973408 $ 10 49,300 SHS Defined 2 49,300 GOL LINHAS AEREAS INTEL-ADR Sponsored ADR 38045R107 $ 395 93,447 SHS Defined 1 93,447 GOLDMAN SACHS GROUP INC COM 38141G104 $ 555 6,577 SHS Defined 1 6,577 Goldman Sachs Group Inc/The COM 38141G104 $ 1,362 16,135 SHS Defined 2 16,135 Google Inc COM 38259P508 $ 2,474 8,040 SHS Defined 2 8,040 GOOGLE INC-CL A COM 38259P508 $ 2,120 6,891 SHS Defined 1 6,891 Grubb & Ellis Co COM 400095204 $ 59 47,200 SHS Defined 2 47,200 H&E Equipment Services Inc COM 404030108 $ 106 13,700 SHS Defined 2 13,700 Halliburton Co COM 406216101 $ 472 25,960 SHS Defined 2 25,960 Harley-Davidson Inc COM 412822108 $ 4,525 266,649 SHS Defined 2 266,649 Harris & Harris Group Inc COM 413833104 $ 152 38,913 SHS Defined 2 38,913 Harris Stratex Networks Inc COM 41457P106 $ 103 19,900 SHS Defined 2 19,900 Health Care Property Investors Inc COM 40414L109 $ 4,655 167,804 SHS Defined 2 167,804 Health Care REIT Inc COM 42217K106 $ 1,224 28,994 SHS Defined 2 28,994 Health Management Associates Inc COM 421933102 $ 36 20,007 SHS Defined 2 20,007 Health Net Inc COM 42222G108 $ 557 51,131 SHS Defined 2 51,131 Healthcare Realty Trust Inc COM 421946104 $ 279 11,880 SHS Defined 2 11,880 Healthsouth Corp COM 421924309 $ 1,766 161,100 SHS Defined 2 161,100 Hercules Offshore Inc COM 427093109 $ 82 17,300 SHS Defined 2 17,300 Hersha Hospitality Trust COM 427825104 $ 73 24,300 SHS Defined 2 24,300 Hess Corp COM 42809H107 $ 2,307 43,000 SHS Defined 2 43,000 Hewlett-Packard Co COM 428236103 $ 3,899 107,444 SHS Defined 2 107,444 Highbury Financial Inc COM 42982Y208 $ 39 23,900 SHS Defined 2 23,900 Highwoods Properties Inc COM 431284108 $ 1,667 61,117 SHS Defined 2 61,117 Home Depot Inc COM 437076102 $ 1,766 76,700 SHS Defined 2 76,700 Home Properties Inc COM 437306103 $ 3,121 77,027 SHS Defined 2 77,027 Honeywell International Inc COM 438516106 $ 558 17,000 SHS Defined 2 17,000 Host Hotels & Resorts Inc COM 44107P104 $ 768 101,504 SHS Defined 2 101,504 HOVNANIAN ENTERPRISES-A COM 442487203 $ 250 145,111 SHS Defined 2 145,111 HRPT Properties Trust COM 40426W101 $ 99 29,356 SHS Defined 2 29,356 Human Genome Sciences Inc COM 444903108 $ 51 24,100 SHS Defined 2 24,100 Humana Inc COM 444859102 $ 660 17,700 SHS Defined 2 17,700 ICICI BANK LTD-SPON ADR Sponsored ADR 45104G104 $ 2,502 129,988 SHS Defined 1 129,988 IDEARC INC COM 451663108 $ 11 128,668 SHS Defined 2 128,668 Illinois Tool Works Inc COM 452308109 $ 354 10,100 SHS Defined 2 10,100 IMA EXPLORATION INC COM 449664101 $ 32 128,000 SHS Sole 128,000 Incyte Corp COM 45337C102 $ 125 32,900 SHS Defined 2 32,900 Inland Real Estate Corp COM 457461200 $ 1,448 111,692 SHS Defined 2 111,692 Intel Corp COM 458140100 $ 8,924 608,700 SHS Defined 2 608,700 INTERACTIVE BROKERS GRO-CL A COM 45841N107 $ 567 31,700 SHS Sole 31,700 IntercontinentalExchange Inc COM 45865V100 $ 1,608 19,500 SHS Defined 2 19,500 International Business Machines Corp COM 459200101 $ 1,362 16,180 SHS Defined 2 16,180 INTREPID POTASH INC COM 46121Y102 $ 399 19,200 SHS Sole 19,200 INVESTORS REAL ESTATE TRUST COM 461730103 $ 150 14,000 SHS Defined 2 14,000 IPATH MSCI INDIA INDEX ETN COM 06739F291 $ 1,266 40,000 SHS Defined 2 40,000 iShares FTSE/Xinhua China 25 Index Fund COM 464287184 $ 5,818 200,000 SHS Defined 2 200,000 iShares MSCI Brazil Index Fund COM 464286400 $ 1,819 52,000 SHS Defined 2 52,000 iShares MSCI EAFE Index Fund COM 464287465 $ 2,741 61,092 SHS Defined 2 61,092 iShares MSCI Emerging Markets Index Fund COM 464287234 $ 6,302 252,395 SHS Defined 2 252,395 iShares MSCI Mexico Index Fund COM 464286822 $ 968 30,000 SHS Defined 2 30,000 iShares MSCI South Korea Index Fund COM 464286772 $ 4,196 150,000 SHS Defined 2 150,000 iShares MSCI Taiwan Index Fund COM 464286731 $ 2,277 300,000 SHS Defined 2 300,000 JC Penney Co Inc COM 708160106 $ 1,976 100,300 SHS Defined 2 100,300 Johnson & Johnson COM 478160104 $ 17,698 295,798 SHS Defined 2 295,798 JPMORGAN CHASE & CO COM 46625H100 $ 1,904 60,373 SHS Defined 1 60,373 JPMorgan Chase & Co COM 46625H100 $ 2,286 72,500 SHS Defined 2 72,500 Kellogg Co COM 487836108 $ 6,600 150,511 SHS Defined 2 150,511 Kimberly-Clark Corp COM 494368103 $ 268 5,088 SHS Defined 2 5,088 Kimco Realty Corp COM 49446R109 $ 1,385 75,829 SHS Defined 2 75,829 Kinder Morgan Energy Partners LP COM 494550106 $ 14,532 317,630 SHS Defined 3 317,630 Kinder Morgan Energy Partners LP COM 494550106 $ 34,532 755,002 SHS Defined 4 755,002 Knot Inc/The COM 499184109 $ 121 14,600 SHS Defined 2 14,600 Kohl's Corp COM 500255104 $ 228 6,300 SHS Defined 2 6,300 Kraft Foods Inc COM 50075N104 $ 272 10,118 SHS Defined 2 10,118 Kroger Co/The COM 501044101 $ 661 25,030 SHS Defined 2 25,030 Lam Research Corp COM 512807108 $ 1,132 53,200 SHS Defined 2 53,200 Las Vegas Sands Corp COM 517834107 $ 424 71,500 SHS Defined 2 71,500 LCA-Vision Inc COM 501803308 $ 43 10,419 SHS Defined 2 10,419 Lear Corp COM 521865105 $ 50 35,220 SHS Defined 2 35,220 Lexmark International Inc COM 529771107 $ 1,572 58,455 SHS Defined 2 58,455 Liberty Media Corp - Interactive COM 53071M104 $ 174 55,774 SHS Defined 2 55,774 LIFE TECHNOLOGIES CORP COM 53217V109 $ 794 34,055 SHS Defined 2 34,055 Linear Technology Corp COM 535678106 $ 53 2,397 SHS Sole 2,397 Linear Technology Corp COM 535678106 $ 6,893 311,600 SHS Defined 2 311,600 Lockheed Martin Corp COM 539830109 $ 3,111 37,000 SHS Defined 2 37,000 Longtop Financial Techno ADR Sponsored ADR 54318P108 $ 3,240 214,300 SHS Sole 214,300 LORILLARD INC COM 544147101 $ 231 4,100 SHS Defined 2 4,100 LSI Corp COM 502161102 $ 109 33,271 SHS Defined 2 33,271 Ltd Brands Inc COM 532716107 $ 2,557 254,700 SHS Defined 2 254,700 Macerich Co/The COM 554382101 $ 1,638 90,266 SHS Defined 2 90,266 Mack-Cali Realty Corp COM 554489104 $ 358 14,594 SHS Defined 2 14,594 MACQUARIE INFRASTRUCTURE COMPANY MEMBERSHIP INT 55608B105 $ 12,035 3,192,247 SHS Sole 3,192,247 Magellan Midstream Partners LP COM 559080106 $ 16,942 560,819 SHS Defined 3 560,819 Magellan Midstream Partners LP COM 559080106 $ 34,382 1,141,271 SHS Defined 4 1,141,271 Marathon Oil Corp COM 565849106 $ 903 32,999 SHS Defined 2 32,999 MARKET VECTORS AGRIBUSINESS COM 57060U605 $ 1,940 69,670 SHS Defined 1 69,670 Marsh & McLennan Cos Inc COM 571748102 $ 2,386 98,311 SHS Defined 2 98,311 Masco Corp COM 574599106 $ 474 42,563 SHS Defined 2 42,563 Mastercard Inc COM 57636Q104 $ 982 6,870 SHS Defined 2 6,870 Mattel Inc COM 577081102 $ 5,552 347,000 SHS Defined 2 347,000 Maxim Integrated Products Inc COM 57772K101 $ 2,940 257,400 SHS Defined 2 257,400 McClatchy Co COM 579489105 $ 28 34,406 SHS Defined 2 34,406 McDonald's Corp COM 580135101 $ 697 11,200 SHS Defined 2 11,200 McGraw-Hill Cos Inc/The COM 580645109 $ 4,272 184,236 SHS Defined 2 184,236 McKesson Corp COM 58155Q103 $ 778 20,080 SHS Defined 2 20,080 MEDIA GENERAL INC -CL A COM 584404107 $ 21 11,813 SHS Defined 2 11,813 Medtronic Inc COM 585055106 $ 11,998 381,869 SHS Defined 2 381,869 MEMC Electronic Materials Inc COM 552715104 $ 1,127 78,918 SHS Defined 2 78,918 MENTOR CORP COM 587188103 $ 695 22,460 SHS Defined 2 22,460 Merck & Co Inc COM 589331107 $ 2,393 78,730 SHS Defined 2 78,730 MetLife Inc COM 59156R108 $ 3,639 104,400 SHS Defined 2 104,400 MetroPCS Communications Inc COM 591708102 $ 1,409 94,900 SHS Defined 2 94,900 MFA FINANCIAL INC COM 55272X102 $ 152 25,800 SHS Defined 2 25,800 Microsoft Corp COM 594918104 $ 15,916 818,728 SHS Defined 2 818,728 MIRANT CORP COM 60467R100 $ 72 3,832 SHS Defined 1 3,832 Mirant Corp COM 60467R100 $ 293 15,553 SHS Defined 2 15,553 MODUSLINK GLOBAL SOLUTIONS I COM 60786L107 $ 187 64,700 SHS Defined 2 64,700 Monsanto Co COM 61166W101 $ 1,780 25,300 SHS Defined 2 25,300 Moody's Corp COM 615369105 $ 5,142 255,933 SHS Defined 2 255,933 MOSAIC CO/THE COM 61945A107 $ 183 5,302 SHS Defined 1 5,302 Mosaic Co/The COM 61945A107 $ 228 6,600 SHS Defined 2 6,600 Motorola Inc COM 620076109 $ 1,274 287,600 SHS Defined 2 287,600 MSCI INC-A COM 55354G100 $ 179 10,100 SHS Defined 2 10,100 MYRIAD GENETICS INC COM 62855J104 $ 992 14,970 SHS Defined 2 14,970 Nasdaq Omx Group Inc COM 631103108 $ 1,154 46,700 SHS Defined 2 46,700 National City Corp COM 635405103 $ 175 96,900 SHS Defined 2 96,900 National Retail Properties Inc COM 637417106 $ 188 10,949 SHS Defined 2 10,949 National Semiconductor Corp COM 637640103 $ 148 14,707 SHS Defined 2 14,707 Nationwide Health Properties Inc COM 638620104 $ 286 9,969 SHS Defined 2 9,969 NETAPP INC COM 64110D104 $ 1,481 106,000 SHS Defined 2 106,000 NEWCASTLE INVESTMENT CORP COM 65105M108 $ 22 26,578 SHS Defined 2 26,578 Newmont Mining Corp COM 651639106 $ 627 15,400 SHS Defined 2 15,400 News Corp COM 65248E104 $ 195 21,300 SHS Defined 2 21,300 NII Holdings Inc COM 62913F201 $ 527 29,000 SHS Defined 2 29,000 NISOURCE INC COM 65473P105 $ 62 5,652 SHS Defined 1 5,652 NiSource Inc COM 65473P105 $ 127 11,572 SHS Defined 2 11,572 NISOURCE INC COM COM 65473P105 $ 24 2,200 SHS Sole 2,200 NOAH ED HLDGS LTD ADR Sponsored ADR 65487R303 $ 64 20,200 SHS Sole 20,200 Noble Corp COM G65422100 $ 266 12,027 SHS Defined 2 12,027 Noble Energy Inc COM 655044105 $ 2,455 49,882 SHS Defined 2 49,882 Norfolk Southern Corp COM 655844108 $ 245 5,200 SHS Defined 2 5,200 Northrop Grumman Corp COM 666807102 $ 1,447 32,119 SHS Defined 2 32,119 Nova Biosource Fuels Inc COM 65488W103 $ 2 25,100 SHS Defined 2 25,100 NOVATEL WIRELESS INC COM 66987M604 $ 113 24,300 SHS Defined 2 24,300 Nu Skin Enterprises Inc COM 67018T105 $ 468 44,900 SHS Defined 2 44,900 Occidental Petroleum Corp COM 674599105 $ 1,224 20,400 SHS Defined 2 20,400 OCH-ZIFF CAPITAL MANAGEMEN-A COM 67551U105 $ 367 71,300 SHS Sole 71,300 Odyssey HealthCare Inc COM 67611V101 $ 103 11,100 SHS Defined 2 11,100 Office Depot Inc COM 676220106 $ 206 69,080 SHS Defined 2 69,080 OFFICEMAX INC COM 67622P101 $ 122 16,000 SHS Defined 2 16,000 OIL STATES INTERNATIONAL INC COM 678026105 $ 402 21,503 SHS Defined 2 21,503 Omega Healthcare Investors Inc COM 681936100 $ 212 13,253 SHS Defined 2 13,253 Omnicom Group Inc COM 681919106 $ 1,098 40,800 SHS Defined 2 40,800 ON Semiconductor Corp COM 682189105 $ 247 72,600 SHS Defined 2 72,600 ORACLE CORP COM 68389X105 $ 5 306 SHS Defined 1 306 Oracle Corp COM 68389X105 $ 12,415 700,231 SHS Defined 2 700,231 Orion Marine Group Inc COM 68628V308 $ 128 13,200 SHS Defined 2 13,200 P G & E CORP COM 69331C108 $ 298 7,691 SHS Defined 1 7,691 PACIFIC RIM MINING CORP COM NEW 694915208 $ 311 2,000,000 SHS Sole 2,000,000 PAETEC HOLDING CORP COM 695459107 $ 80 55,801 SHS Defined 2 55,801 Palm Inc COM 696643105 $ 41 13,400 SHS Defined 2 13,400 PARAMOUNT GOLD AND SILVER CORP COM 69924P102 $ 219 476,200 SHS Sole 476,200 Parkervision Inc COM 701354102 $ 29 11,800 SHS Defined 2 11,800 Patterson-UTI Energy Inc COM 703481101 $ 471 40,880 SHS Defined 2 40,880 PepsiCo Inc COM 713448108 $ 613 11,193 SHS Defined 2 11,193 PETROLEO BRASILEIRO S.A.-ADR Sponsored ADR 71654V408 $ 2,413 98,527 SHS Defined 1 98,527 Pfizer Inc COM 717081103 $ 3,146 177,644 SHS Defined 2 177,644 PG&E Corp COM 69331C108 $ 217 5,600 SHS Defined 2 5,600 PG&E CORP COM COM 69331C108 $ 35 900 SHS Sole 900 Philip Morris International Inc COM 718172109 $ 18,349 421,709 SHS Defined 2 421,709 Plains All American Pipeline LP COM 726503105 $ 1,751 50,475 SHS Defined 4 50,475 PMC - Sierra Inc COM 69344F106 $ 66 13,600 SHS Defined 2 13,600 POPULAR INC COM 733174106 $ 1,196 231,700 SHS Defined 2 231,700 Post Properties Inc COM 737464107 $ 324 19,661 SHS Defined 2 19,661 POWERSHARES QQQ COM 73935A104 $ 996 33,500 SHS Defined 1 33,500 POWERSHARES WILDERH CLEAN EN COM 73935X500 $ 430 49,933 SHS Defined 1 49,933 PPL CORPORATION COM 69351T106 $ 235 7,643 SHS Defined 1 7,643 PPL Corporation COM 69351T106 $ 46 1,500 SHS Defined 2 1,500 PRAXAIR INC COM 74005P104 $ 11 177 SHS Defined 1 177 Praxair Inc COM 74005P104 $ 600 10,100 SHS Defined 2 10,100 PRIMEDIA INC COM 74157K846 $ 30 13,784 SHS Defined 2 13,784 Principal Financial Group Inc COM 74251V102 $ 466 20,657 SHS Defined 2 20,657 Procter & Gamble Co COM 742718109 $ 10,389 168,060 SHS Defined 2 168,060 Prologis COM 743410102 $ 290 20,900 SHS Defined 2 20,900 Prudential Financial Inc COM 744320102 $ 275 9,100 SHS Defined 2 9,100 Public Storage Inc COM 74460D109 $ 6,053 76,234 SHS Defined 2 76,234 Puget Energy Inc COM 745310102 $175,437 6,433,319 SHS Sole 5,967,915 465,404 Pulte Homes Inc COM 745867101 $ 289 26,425 SHS Defined 2 26,425 Qualcomm Inc COM 747525103 $ 1,860 51,900 SHS Defined 2 51,900 R.H. DONNELLEY CORP COM 74955W307 $ 18 48,784 SHS Defined 2 48,784 RALCORP HOLDINGS INC COM 751028101 $ 974 16,680 SHS Defined 2 16,680 Range Resources Corp COM 75281A109 $ 230 6,700 SHS Defined 2 6,700 Realty Income Corp COM 756109104 $ 2,475 106,988 SHS Defined 2 106,988 Regency Centers Corp COM 758849103 $ 1,697 36,397 SHS Defined 2 36,397 RELIANT ENERGY INC COM 75952B105 $ 42 7,206 SHS Defined 1 7,206 Reliant Energy Inc COM 75952B105 $ 144 24,923 SHS Defined 2 24,923 Rentech Inc COM 760112102 $ 42 61,400 SHS Defined 2 61,400 REPSOL YPF SA -SPONSORED ADR Sponsored ADR 76026T205 $ 272 12,629 SHS Defined 1 12,629 RETAIL VENTURES INC COM 76128Y102 $ 117 33,700 SHS Defined 2 33,700 RIGEL PHARMACEUTICALS INC COM 766559603 $ 97 12,100 SHS Defined 2 12,100 Royal Caribbean Cruises Ltd COM 000886286 $ 446 32,400 SHS Defined 2 32,400 Royal Dutch Shell PLC COM 780259206 $ 716 13,523 SHS Defined 2 13,523 ROYAL GOLD INC COM 780287108 $ 369 7,500 SHS Defined 2 7,500 RSC Holdings Inc COM 74972L102 $ 107 12,600 SHS Defined 2 12,600 Ruby Tuesday Inc COM 781182100 $ 25 16,108 SHS Defined 2 16,108 Rudolph Technologies Inc COM 781270103 $ 61 17,200 SHS Defined 2 17,200 Safeguard Scientifics Inc COM 786449108 $ 174 254,453 SHS Defined 2 254,453 SANDISK CORP COM 80004C101 $ 323 33,688 SHS Defined 1 33,688 SanDisk Corp COM 80004C101 $ 729 75,900 SHS Defined 2 75,900 Schering-Plough Corp COM 806605101 $ 3,339 196,085 SHS Defined 2 196,085 Schlumberger Ltd COM 806857108 $ 10,244 242,000 SHS Defined 2 242,000 Scotts Miracle-Gro Co/The COM 810186106 $ 6,194 208,427 SHS Defined 2 208,427 Seachange International Inc COM 811699107 $ 92 12,800 SHS Defined 2 12,800 Sealed Air Corp COM 81211K100 $ 302 20,200 SHS Defined 2 20,200 SEMICONDUCTOR MANUFACT-ADR Sponsored ADR 81663N206 $ 399 188,970 SHS Defined 1 188,970 Sempra Energy COM 816851109 $ 1,454 34,100 SHS Defined 2 34,100 Senior Housing Properties Trust COM 81721M109 $ 463 25,847 SHS Defined 2 25,847 SEQUENOM INC COM 817337405 $ 789 39,790 SHS Defined 2 39,790 Shutterfly Inc COM 82568P304 $ 105 15,000 SHS Defined 2 15,000 Simon Property Group Inc COM 828806109 $ 5,317 100,141 SHS Defined 2 100,141 SIRF TECHNOLOGY HOLDINGS INC COM 82967H101 $ 30 23,068 SHS Defined 1 23,068 SMART MODULAR TECHNOLOGIES COM G82245104 $ 24 15,620 SHS Defined 2 15,620 Sonus Networks Inc COM 835916107 $ 623 394,100 SHS Defined 2 394,100 Southern Co COM 842587107 $ 296 8,000 SHS Defined 2 8,000 SOUTHERN CO COM COM 842587107 $ 37 1,000 SHS Sole 1,000 SOUTHERN COPPER CORP COM 84265V105 $ 108 6,712 SHS Defined 1 6,712 Southern Copper Corp COM 84265V105 $ 551 34,299 SHS Defined 2 34,299 SPDR GOLD TRUST COM 78463V107 $ 512 5,914 SHS Defined 1 5,914 SPDR S&P HOMEBUILDERS ETF COM 78464A888 $ 5,498 458,932 SHS Defined 1 458,932 SPDR TRUST SERIES 1 COM 78462F103 $ 3,234 35,842 SHS Defined 1 35,842 SPDR Trust Series 1 COM 78462F103 $ 1,107 12,265 SHS Defined 2 12,265 Sprint Nextel Corp COM 852061100 $ 185 100,862 SHS Defined 2 100,862 SPX Corp COM 784635104 $ 284 6,997 SHS Defined 2 6,997 St Jude Medical Inc COM 790849103 $ 1,925 58,393 SHS Defined 2 58,393 Staples Inc COM 855030102 $ 655 36,550 SHS Defined 2 36,550 Starbucks Corp COM 855244109 $ 4,831 510,669 SHS Defined 2 510,669 Starwood Hotels & Resorts Worldwide Inc COM 85590A401 $ 455 25,413 SHS Defined 2 25,413 Strategic Hotels & Resorts Inc COM 86272T106 $ 60 35,981 SHS Defined 2 35,981 STRAYER EDUCATION INC COM 863236105 $ 643 3,000 SHS Defined 2 3,000 Streettracks Gold Trust COM 78463V107 $ 1,377 15,910 SHS Defined 2 15,910 Sun Microsystems Inc COM 866810203 $ 219 57,357 SHS Defined 2 57,357 Sunoco Inc COM 86764P109 $ 282 6,480 SHS Defined 2 6,480 SUNPOWER CORP-CLASS A COM 867652109 $ 792 21,400 SHS Defined 2 21,400 SUPERVALU Inc COM 868536103 $ 343 23,481 SHS Defined 2 23,481 Surgutneftegaz-SP ADR Sponsored ADR 868861204 $ 456 89,460 SHS Defined 2 89,460 TRW Automotive Holdings Corp COM 87264S106 $ 295 81,807 SHS Defined 2 81,807 TTM Technologies Inc COM 87305R109 $ 91 17,400 SHS Defined 2 17,400 Tyco Electronics Ltd COM G9144P105 $ 1,610 99,312 SHS Defined 2 99,312 Tyco International Ltd COM G9143X208 $ 387 17,894 SHS Defined 2 17,894 UDR Inc COM 902653104 $ 238 17,278 SHS Defined 2 17,278 Ultra Petroleum Corp COM 903914109 $ 628 18,200 SHS Defined 2 18,200 Union Pacific Corp COM 907818108 $ 292 6,100 SHS Defined 2 6,100 United Parcel Service Inc COM 911312106 $ 221 4,000 SHS Defined 2 4,000 United States Steel Corp COM 912909108 $ 54 1,455 SHS Defined 4 1,455 United States Steel Corp COM 912909108 $ 598 16,071 SHS Defined 2 16,071 United Technologies Corp COM 913017109 $ 343 6,400 SHS Defined 2 6,400 UnitedHealth Group Inc COM 91324P102 $ 3,495 131,406 SHS Defined 2 131,406 US Bancorp COM 902973304 $ 318 12,700 SHS Defined 2 12,700 UST Inc COM 902911106 $ 1,085 15,643 SHS Defined 2 15,643 Valero Energy Corp COM 91913Y100 $ 162 7,493 SHS Defined 4 7,493 Valero Energy Corp COM 91913Y100 $ 854 39,463 SHS Defined 2 39,463 VALUECLICK INC COM 92046N102 $ 227 33,152 SHS Defined 1 33,152 VALUEVISION MEDIA INC-CL A COM 92047K107 $ 9 28,290 SHS Defined 2 28,290 Varian Medical Systems Inc COM 92220P105 $ 559 15,958 SHS Defined 2 15,958 Ventas Inc COM 92276F100 $ 3,422 102,056 SHS Defined 2 102,056 Verizon Communications Inc COM 92343V104 $ 1,247 36,790 SHS Defined 2 36,790 Viacom Inc COM 92553P201 $ 1,034 54,264 SHS Defined 2 54,264 VIMPELCOM-SP ADR Sponsored ADR 68370R109 $ 173 24,107 SHS Defined 1 24,107 Visa Inc COM 92826C839 $ 913 17,400 SHS Sole 17,400 Visa Inc COM 92826C839 $ 1,986 37,860 SHS Defined 2 37,860 Vornado Realty Trust COM 929042109 $ 4,201 69,666 SHS Defined 2 69,666 Wachovia Corp COM 929903102 $ 89 16,081 SHS Defined 2 16,081 Walgreen Co COM 931422109 $ 13,628 552,400 SHS Defined 2 552,400 Wal-Mart Stores Inc COM 931142103 $ 19,634 350,224 SHS Defined 2 350,224 Walt Disney Co/The COM 254687106 $ 306 13,500 SHS Defined 2 13,500 Washington Real Estate Investment Trust COM 939653101 $ 200 7,073 SHS Defined 2 7,073 Weatherford International Ltd COM G95089101 $ 399 36,855 SHS Defined 2 36,855 Weight Watchers International Inc COM 948626106 $ 6,477 220,167 SHS Defined 2 220,167 Weingarten Realty Investors COM 948741103 $ 206 9,964 SHS Defined 2 9,964 WellPoint Inc COM 94973V107 $ 3,570 84,734 SHS Defined 2 84,734 Wells Fargo & Co COM 949746101 $ 2,029 68,819 SHS Defined 2 68,819 Western Digital Corp COM 958102105 $ 458 39,970 SHS Defined 2 39,970 Western Union Co/The COM 959802109 $ 3,420 238,488 SHS Defined 2 238,488 Whirlpool Corp COM 963320106 $ 794 19,200 SHS Defined 2 19,200 WHITE MOUNTAINS INSURANCE GP COM G9618E107 $ 708 2,650 SHS Defined 2 2,650 Windstream Corp COM 97381W104 $ 310 33,716 SHS Defined 2 33,716 Wyeth COM 983024100 $ 5,153 137,377 SHS Defined 2 137,377 XCEL ENERGY INC COM 98389B100 $ 171 9,222 SHS Defined 1 9,222 Xcel Energy Inc COM 98389B100 $ 150 8,100 SHS Defined 2 8,100 XCEL ENERGY INC COM COM 98389B100 $ 32 1,700 SHS Sole 1,700 Xilinx Inc COM 983919101 $ 311 17,443 SHS Defined 2 17,443 XTO Energy Inc COM 98385X106 $ 1,790 50,760 SHS Defined 2 50,760