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
3M CO COM 88579Y101 870 4,969 SH   SOLE   4,969 0 0
8X8 INC COM 282914100 2,810 192,361 SH   SOLE   192,361 0 0
A.O. SMITH CORPORATION COM 831865209 17 191 SH   SOLE   191 0 0
ABBOTT LABORATORIES COM 002824100 148 3,770 SH   SOLE   3,770 0 0
ABBVIE INC COM 00287Y109 255 4,123 SH   SOLE   4,123 0 0
ACADIA REALTY TRUST COM SH BEN INT 004239109 39,135 1,101,776 SH   SOLE   1,101,776 0 0
ACCENTURE PLC SHS CLASS A G1151C101 185 1,635 SH   SOLE   1,635 0 0
ACETO CORPORATION COM 004446100 3,674 167,853 SH   SOLE   167,853 0 0
ACTIVISION BLIZZARD INC COM 00507V109 59 1,497 SH   SOLE   1,497 0 0
ACUITY BRANDS INC COM 00508Y102 31 125 SH   SOLE   125 0 0
ADEPTUS HEALTH INC CL A 006855100 1,966 38,061 SH   SOLE   38,061 0 0
ADOBE SYSTEMS INC COM 00724F101 125 1,305 SH   SOLE   1,305 0 0
ADVANCE AUTO PARTS INC COM 00751Y106 31 192 SH   SOLE   192 0 0
ADVANCED ENERGY INDUSTRIES INC COM 007973100 3,793 99,925 SH   SOLE   99,925 0 0
AERCAP HOLDINGS NV SHS N00985106 15 436 SH   SOLE   436 0 0
AES CORP COM 00130H105 22 1,760 SH   SOLE   1,760 0 0
AETNA INC COM 00817Y108 111 912 SH   SOLE   912 0 0
AFFILIATED MANAGERS GROUP INC COM 008252108 19 138 SH   SOLE   138 0 0
AFLAC INC COM 001055102 81 1,116 SH   SOLE   1,116 0 0
AGCO CORPORATION COM 001084102 11 232 SH   SOLE   232 0 0
AGENUS INC COM NEW 00847G705 371 91,632 SH   SOLE   91,632 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 37 839 SH   SOLE   839 0 0
AGL RESOURCES INC COM 001204106 227 3,435 SH   SOLE   3,435 0 0
AGREE REALTY CORPORATION COM 008492100 43 900 SH   SOLE   900 0 0
AIR PRODUCTS & CHEMICALS INC COM 009158106 76 535 SH   SOLE   535 0 0
AKAMAI TECHNOLOGIES COM 00971T101 29 519 SH   SOLE   519 0 0
ALBANY MOLECULAR RESEARCH INC COM 012423109 2,734 203,450 SH   SOLE   203,450 0 0
ALBEMARLE CORPORATION COM 012653101 23 287 SH   SOLE   287 0 0
ALCOA INC COM 013817101 33 3,537 SH   SOLE   3,537 0 0
ALEXANDER'S INC COM 014752109 53 130 SH   SOLE   130 0 0
ALEXANDRIA REAL ESTATE COM 015271109 15,547 150,180 SH   SOLE   150,180 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 69 590 SH   SOLE   590 0 0
ALKERMES PLC SHS G01767105 20 454 SH   SOLE   454 0 0
ALLEGHANY CORPORATION COM 017175100 22 40 SH   SOLE   40 0 0
ALLERGAN PLC SHS G0177J108 233 1,010 SH   SOLE   1,010 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 31 160 SH   SOLE   160 0 0
ALLIANT ENERGY CORP COM 018802108 24 594 SH   SOLE   594 0 0
ALLSTATE CORP COM 020002101 71 1,013 SH   SOLE   1,013 0 0
ALLY FINANCIAL INC COM 02005N100 20 1,200 SH   SOLE   1,200 0 0
ALMOST FAMILY INC COM 020409108 3,463 81,269 SH   SOLE   81,269 0 0
ALNYLAM PHARMACEUTICALS INC COM 02043Q107 12 221 SH   SOLE   221 0 0
ALPHABET INC-CL A CAP STK CL A 02079K305 724 1,029 SH   SOLE   1,029 0 0
ALPHABET INC-CL C CAP STK CL C 02079K107 4,036 5,832 SH   SOLE   5,832 0 0
ALTRIA GROUP INC COM 02209S103 345 5,010 SH   SOLE   5,010 0 0
AMAZON.COM INC COM 023135106 3,234 4,519 SH   SOLE   4,519 0 0
AMERCO COM 023586100 8 22 SH   SOLE   22 0 0
AMEREN CORPORATION COM 023608102 34 635 SH   SOLE   635 0 0
AMERICAN AIRLINES GROUP INC COM 02376R102 14 512 SH   SOLE   512 0 0
AMERICAN ASSETS TRUST INC COM 024013104 59 1,400 SH   SOLE   1,400 0 0
AMERICAN CAMPUS COMMUNITIES COM 024835100 259,455 4,907,409 SH   SOLE   4,907,409 0 0
AMERICAN CAPITAL AGENCY CORPORATION COM 02503X105 228 11,525 SH   SOLE   11,525 0 0
AMERICAN ELECTRIC POWER COM 025537101 307 4,384 SH   SOLE   4,384 0 0
AMERICAN EXPRESS CO COM 025816109 127 2,097 SH   SOLE   2,097 0 0
AMERICAN FARMLAND CO COM 02589Y100 1 100 SH   SOLE   100 0 0
AMERICAN HOMES 4 RENT-A CL A 02665T306 11,906 581,351 SH   SOLE   581,351 0 0
AMERICAN INTERNATIONAL GROUP COM NEW 026874784 156 2,941 SH   SOLE   2,941 0 0
AMERICAN TOWER CORPORATION COM 03027X100 375,790 3,307,719 SH   SOLE   3,307,719 0 0
AMERICAN TOWER CORPORATION-A 5.25% PFD CONV SER A 03027X308 17,505 155,600 SH   SOLE   155,600 0 0
AMERICAN TOWER CORPORATION-B 5.5% DEP PFD CONV SE 03027X407 18,072 160,900 SH   SOLE   160,900 0 0
AMERICAN WATER WORKS CO INC COM 030420103 39 456 SH   SOLE   456 0 0
AMERIPRISE FINANCIAL INC COM 03076C106 41 456 SH   SOLE   456 0 0
AMERIS BANCORP COM 03076K108 3,408 114,733 SH   SOLE   114,733 0 0
AMERISAFE INC COM 03071H100 3,554 58,060 SH   SOLE   58,060 0 0
AMERISOURCEBERGEN CORP COM 03073E105 199 2,511 SH   SOLE   2,511 0 0
AMETEK INC COM 031100100 31 679 SH   SOLE   679 0 0
AMGEN INC COM 031162100 293 1,925 SH   SOLE   1,925 0 0
AMPHASTAR PHARMACEUTICALS INC COM 03209R103 4,035 250,331 SH   SOLE   250,331 0 0
AMPHENOL CORPORATION-CL A CL A 032095101 2,357 41,119 SH   SOLE   41,119 0 0
ANADARKO PETROLEUM CORP COM 032511107 71 1,329 SH   SOLE   1,329 0 0
ANALOG DEVICES INC COM 032654105 45 793 SH   SOLE   793 0 0
ANIKA THERAPEUTICS INC COM 035255108 3,097 57,719 SH   SOLE   57,719 0 0
ANNALY CAPITAL MANAGEMENT INC COM 035710409 246 22,187 SH   SOLE   22,187 0 0
ANSYS INC COM 03662Q105 21 233 SH   SOLE   233 0 0
ANTERO RESOURCES CORPORATION COM 03674X106 6 240 SH   SOLE   240 0 0
ANTHEM INC COM 036752103 90 683 SH   SOLE   683 0 0
AON PLC SHS CL A G0408V102 78 717 SH   SOLE   717 0 0
APACHE CORP COM 037411105 54 968 SH   SOLE   968 0 0
APARTMENT INVT & MGMT CO-A CL A 03748R101 16,793 380,273 SH   SOLE   380,273 0 0
APPLE HOSPITALITY REIT INC COM NEW 03784Y200 144,885 7,702,577 SH   SOLE   7,702,577 0 0
APPLE INC COM 037833100 5,342 55,881 SH   SOLE   55,881 0 0
APPLIED MATERIALS INC COM 038222105 69 2,894 SH   SOLE   2,894 0 0
ARAMARK COM 03852U106 19 583 SH   SOLE   583 0 0
ARCH CAPITAL GROUP LTD ORD G0450A105 25 342 SH   SOLE   342 0 0
ARCHER-DANIELS-MIDLAND CO COM 039483102 67 1,561 SH   SOLE   1,561 0 0
ARMADA HOFFLER PROPERTIES INC COM 04208T108 16 1,200 SH   SOLE   1,200 0 0
ARRAY BIOPHARMA INC COM 04269X105 483 135,695 SH   SOLE   135,695 0 0
ARROW ELECTRONICS INC COM 042735100 19 301 SH   SOLE   301 0 0
ARTHUR J GALLAGHER & CO COM 363576109 23 477 SH   SOLE   477 0 0
ASHFORD HOSPITALITY PRIME INC COM 044102101 13 900 SH   SOLE   900 0 0
ASHFORD HOSPITALITY TRUST COM SHS 044103109 34 6,400 SH   SOLE   6,400 0 0
ASHLAND INC COM 044209104 19 162 SH   SOLE   162 0 0
ASSURANT INC COM 04621X108 14 166 SH   SOLE   166 0 0
AT&T INC COM 00206R102 1,030 23,841 SH   SOLE   23,841 0 0
ATMOS ENERGY CORPORATION COM 049560105 22 267 SH   SOLE   267 0 0
AUTODESK INC COM 052769106 28 523 SH   SOLE   523 0 0
AUTOLIV INC COM 052800109 26 246 SH   SOLE   246 0 0
AUTOMATIC DATA PROCESSING COM 053015103 377 4,107 SH   SOLE   4,107 0 0
AUTONATION INC COM 05329W102 12 255 SH   SOLE   255 0 0
AUTOZONE INC COM 053332102 302 380 SH   SOLE   380 0 0
AVALONBAY COMMUNITIES INC COM 053484101 393,981 2,184,052 SH   SOLE   2,184,052 0 0
AVERY DENNISON CORPORATION COM 053611109 21 283 SH   SOLE   283 0 0
AVNET INC COM 053807103 16 404 SH   SOLE   404 0 0
AXALTA COATING SYSTEMS LTD COM G0750C108 9 333 SH   SOLE   333 0 0
AXIS CAPITAL HOLDINGS LIMITED SHS G0692U109 14 252 SH   SOLE   252 0 0
B&G FOODS INC COM 05508R106 3,851 79,901 SH   SOLE   79,901 0 0
B/E AEROSPACE INC COM 073302101 12 261 SH   SOLE   261 0 0
BAKER HUGHES INC COM 057224107 51 1,141 SH   SOLE   1,141 0 0
BALL CORPORATION COM 058498106 28 381 SH   SOLE   381 0 0
BANC OF CALIFORNIA INC COM 05990K106 4,069 224,800 SH   SOLE   224,800 0 0
BANK OF AMERICA CORPORATION COM 060505104 620 46,724 SH   SOLE   46,724 0 0
BANK OF NEW YORK MELLON CORP/THE COM 064058100 111 2,859 SH   SOLE   2,859 0 0
BANNER CORPORATION COM NEW 06652V208 2,590 60,875 SH   SOLE   60,875 0 0
BARD (C.R.) INC COM 067383109 143 609 SH   SOLE   609 0 0
BAXTER INTERNATIONAL INC. COM 071813109 57 1,262 SH   SOLE   1,262 0 0
BB&T CORPORATION COM 054937107 75 2,115 SH   SOLE   2,115 0 0
BECTON DICKINSON & CO COM 075887109 93 551 SH   SOLE   551 0 0
BED BATH & BEYOND INC COM 075896100 159 3,681 SH   SOLE   3,681 0 0
BERKSHIRE HATHAWAY INC-CL B CL B NEW 084670702 441 3,047 SH   SOLE   3,047 0 0
BEST BUY CO INC COM 086516101 55 1,811 SH   SOLE   1,811 0 0
BIOGEN INC COM 09062X103 135 560 SH   SOLE   560 0 0
BIOMARIN PHARMACEUTICAL INC COM 09061G101 35 450 SH   SOLE   450 0 0
BLACKROCK INC COM 09247X101 110 322 SH   SOLE   322 0 0
BLUEROCK RESIDENTIAL GROWTH REIT INC COM CL A 09627J102 9 700 SH   SOLE   700 0 0
BNC BANCORP COM 05566T101 1,109 48,829 SH   SOLE   48,829 0 0
BOEING CO COM 097023105 209 1,611 SH   SOLE   1,611 0 0
BORGWARNER INC COM 099724106 305 10,321 SH   SOLE   10,321 0 0
BOSTON PROPERTIES INC COM 101121101 378,894 2,872,583 SH   SOLE   2,872,583 0 0
BOSTON SCIENTIFIC CORP COM 101137107 81 3,450 SH   SOLE   3,450 0 0
BOTTOMLINE TECHNOLOGIES (DE) COM 101388106 2,642 122,717 SH   SOLE   122,717 0 0
BRANDYWINE REALTY SH BEN INT NEW 105368203 132,808 7,905,234 SH   SOLE   7,905,234 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 314 4,272 SH   SOLE   4,272 0 0
BRIXMOR PROPERTY GROUP INC COM 11120U105 138,830 5,246,795 SH   SOLE   5,246,795 0 0
BROADCOM LTD SHS Y09827109 158 1,016 SH   SOLE   1,016 0 0
BROADRIDGE FINANCIAL SOLUTIONS COM 11133T103 20 304 SH   SOLE   304 0 0
BROWN-FORMAN CORPORATION-CLASS B CL B 115637209 228 2,284 SH   SOLE   2,284 0 0
BUNGE LIMITED COM G16962105 25 429 SH   SOLE   429 0 0
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 30 410 SH   SOLE   410 0 0
CA INC COM 12673P105 28 861 SH   SOLE   861 0 0
CABOT OIL & GAS CORPORATION COM 127097103 30 1,174 SH   SOLE   1,174 0 0
CADENCE DESIGN SYSTEMS INC COM 127387108 341 14,053 SH   SOLE   14,053 0 0
CALPINE CORPORATION COM NEW 131347304 13 867 SH   SOLE   867 0 0
CAMDEN PROPERTY TRUST SH BEN INT 133131102 222,984 2,521,874 SH   SOLE   2,521,874 0 0
CAMPBELL SOUP COMPANY COM 134429109 235 3,526 SH   SOLE   3,526 0 0
CAPITAL ONE FINANCIAL CORP COM 14040H105 88 1,392 SH   SOLE   1,392 0 0
CAPITOL FEDERAL FINANCIAL INC COM 14057J101 3,672 263,234 SH   SOLE   263,234 0 0
CARDINAL HEALTH INC COM 14149Y108 67 861 SH   SOLE   861 0 0
CARE CAPITAL PROPERTIES COM 141624106 57,937 2,210,487 SH   SOLE   2,210,487 0 0
CARETRUST REIT INC COM 14174T107 29 2,100 SH   SOLE   2,100 0 0
CARMAX INC COM 143130102 25 501 SH   SOLE   501 0 0
CARNIVAL CORP(US) UNIT 99/99/9999 143658300 47 1,063 SH   SOLE   1,063 0 0
CATCHMARK TIMBER TRUST INC CL A 14912Y202 4 300 SH   SOLE   300 0 0
CATERPILLAR INC COM 149123101 115 1,523 SH   SOLE   1,523 0 0
CBL & ASSOCIATES PROPERTIES COM 124830100 111 11,900 SH   SOLE   11,900 0 0
CBRE GROUP INC CL A 12504L109 23 872 SH   SOLE   872 0 0
CBS CORP-CLASS B CL B 124857202 62 1,135 SH   SOLE   1,135 0 0
CDK GLOBAL INC COM 12508E101 22 398 SH   SOLE   398 0 0
CDW CORPORATION COM 12514G108 16 403 SH   SOLE   403 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 31 4,200 SH   SOLE   4,200 0 0
CELANESE CORP-SERIES A COM SER A 150870103 25 384 SH   SOLE   384 0 0
CELGENE CORP COM 151020104 197 2,000 SH   SOLE   2,000 0 0
CENTENE CORPORATION COM 15135B101 31 435 SH   SOLE   435 0 0
CENTERPOINT ENERGY INC COM 15189T107 28 1,148 SH   SOLE   1,148 0 0
CENTERSTATE BANKS INC COM 15201P109 1,832 116,289 SH   SOLE   116,289 0 0
CENTRAL PACIFIC FINANCIAL CORP COM NEW 154760409 3,160 133,901 SH   SOLE   133,901 0 0
CENTURYLINK INC COM 156700106 42 1,436 SH   SOLE   1,436 0 0
CERNER CORPORATION COM 156782104 46 783 SH   SOLE   783 0 0
CF INDUSTRIES HOLDINGS INC COM 125269100 17 705 SH   SOLE   705 0 0
CHARTER COMMUNICATIONS INC-CL A CL A 16119P108 126 551 SH   SOLE   551 0 0
CHATHAM LODGING TRUST COM 16208T102 1,241 56,476 SH   SOLE   56,476 0 0
CHECK POINT SOFTWARE TECHNOLOGIES ORD M22465104 27 336 SH   SOLE   336 0 0
CHENIERE ENERGY INC COM NEW 16411R208 19 513 SH   SOLE   513 0 0
CHESAPEAKE LODGING TRUST SH BEN INT 165240102 51 2,200 SH   SOLE   2,200 0 0
CHEVRON CORP COM 166764100 505 4,819 SH   SOLE   4,819 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 2,321 5,763 SH   SOLE   5,763 0 0
CHUBB LIMITED COM H1467J104 158 1,206 SH   SOLE   1,206 0 0
CHURCH & DWIGHT CO INC COM 171340102 233 2,266 SH   SOLE   2,266 0 0
CIGNA CORP COM 125509109 86 674 SH   SOLE   674 0 0
CIMAREX ENERGY CO COM 171798101 32 264 SH   SOLE   264 0 0
CINCINNATI FINANCIAL CORP COM 172062101 30 407 SH   SOLE   407 0 0
CINTAS CORPORATION COM 172908105 26 262 SH   SOLE   262 0 0
CISCO SYSTEMS INC COM 17275R102 369 12,877 SH   SOLE   12,877 0 0
CIT GROUP INC COM NEW 125581801 18 569 SH   SOLE   569 0 0
CITIGROUP INC COM NEW 172967424 320 7,544 SH   SOLE   7,544 0 0
CITIZENS FINANCIAL GROUP INC COM 174610105 29 1,474 SH   SOLE   1,474 0 0
CITRIX SYSTEMS INC COM 177376100 32 402 SH   SOLE   402 0 0
CITY OFFICE REIT INC COM 178587101 16 1,200 SH   SOLE   1,200 0 0
CLAYTON WILLIAMS ENERGY INC COM 969490101 1,345 48,981 SH   SOLE   48,981 0 0
CLOROX COMPANY COM 189054109 285 2,059 SH   SOLE   2,059 0 0
CME GROUP INC COM 12572Q105 82 841 SH   SOLE   841 0 0
CMS ENERGY CORPORATION COM 125896100 33 727 SH   SOLE   727 0 0
COACH INC COM 189754104 30 726 SH   SOLE   726 0 0
COCA-COLA CO/THE COM 191216100 477 10,525 SH   SOLE   10,525 0 0
COCA-COLA EUROPEAN PARTNERS SHS G25839104 22 622 SH   SOLE   622 0 0
COGNIZANT TECHNOLOGY SOLUTIONS CORP-A CL A 192446102 1,843 32,201 SH   SOLE   32,201 0 0
COLGATE-PALMOLIVE CO COM 194162103 368 5,029 SH   SOLE   5,029 0 0
COLONY STARWOOD HOMES COM 19625X102 46 1,500 SH   SOLE   1,500 0 0
COLUMBIA BANKING SYSTEM INC COM 197236102 3,225 114,927 SH   SOLE   114,927 0 0
COLUMBIA PIPELINE GROUP INC COM 198280109 24 927 SH   SOLE   927 0 0
COLUMBIA PROPERTY TRUST INC COM NEW 198287203 115,929 5,417,226 SH   SOLE   5,417,226 0 0
COMCAST CORP-CL A CL A 20030N101 732 11,226 SH   SOLE   11,226 0 0
COMERICA INC COM 200340107 22 526 SH   SOLE   526 0 0
COMFORT SYSTEMS USA INC COM 199908104 4,223 129,645 SH   SOLE   129,645 0 0
COMMUNICATIONS SALES & LEASING INC COM 20341J104 29 1,000 SH   SOLE   1,000 0 0
COMMUNITY HEALTHCARE TRUST I COM 20369C106 11 500 SH   SOLE   500 0 0
COMSCORE INC COM 20564W105 1,341 56,140 SH   SOLE   56,140 0 0
CONAGRA FOODS INC COM 205887102 132 2,755 SH   SOLE   2,755 0 0
CONCERT PHARMACEUTICALS INC COM 206022105 628 55,934 SH   SOLE   55,934 0 0
CONCHO RESOURCES INC COM 20605P101 42 351 SH   SOLE   351 0 0
CONOCOPHILLIPS COM 20825C104 141 3,230 SH   SOLE   3,230 0 0
CONSOLIDATED EDISON INC COM 209115104 270 3,351 SH   SOLE   3,351 0 0
CONSTELLATION BRANDS INC-A CL A 21036P108 74 450 SH   SOLE   450 0 0
CONSUMER STAPLES SELECT SECTOR SPDR ETF SBI CONS STPLS 81369Y308 15,580 282,500 SH   SOLE   282,500 0 0
CONTINENTAL RESOURCES INC COM 212015101 13 289 SH   SOLE   289 0 0
CORE LABORATORIES NV COM N22717107 17 136 SH   SOLE   136 0 0
CORENERGY INFRASTRUCTURE TRUST INC COM NEW 21870U502 23 800 SH   SOLE   800 0 0
CORESITE REALTY CORPORATION COM 21870Q105 234 2,640 SH   SOLE   2,640 0 0
CORNING INC COM 219350105 58 2,848 SH   SOLE   2,848 0 0
CORPORATE OFFICE PROPERTIES SH BEN INT 22002T108 103 3,500 SH   SOLE   3,500 0 0
CORRECTIONS CORPORATION OF AMERICA COM NEW 22025Y407 81,310 2,321,819 SH   SOLE   2,321,819 0 0
COSTCO WHOLESALE CORP COM 22160K105 180 1,144 SH   SOLE   1,144 0 0
COUSINS PROPERTIES INC COM 222795106 68,899 6,624,889 SH   SOLE   6,624,889 0 0
COVENANT TRANSPORTATION GROUP INC CL A 22284P105 2,700 149,408 SH   SOLE   149,408 0 0
COWEN GROUP INC CL A 223622101 2,586 873,660 SH   SOLE   873,660 0 0
CREE INC COM 225447101 342 14,009 SH   SOLE   14,009 0 0
CROWN CASTLE INTERNATIONAL CORP-A 4.5% CNV PFD STK SR A 22822V200 6,074 50,200 SH   SOLE   50,200 0 0
CROWN CASTLE INTERNATIONAL CORPORATION COM 22822V101 602,966 5,944,653 SH   SOLE   5,944,653 0 0
CROWN HOLDINGS INC COM 228368106 21 408 SH   SOLE   408 0 0
CSX CORP COM 126408103 67 2,551 SH   SOLE   2,551 0 0
CTRIP.COM INTERNATIONAL-ADR AMERICAN DEP SHS 22943F100 1,207 29,300 SH   SOLE   29,300 0 0
CUBESMART COM 229663109 67,963 2,200,875 SH   SOLE   2,200,875 0 0
CUMMINS INC COM 231021106 50 441 SH   SOLE   441 0 0
CVB FINANCIAL CORP COM 126600105 3,550 216,589 SH   SOLE   216,589 0 0
CVS HEALTH CORPORATION COM 126650100 269 2,811 SH   SOLE   2,811 0 0
CYNOSURE INC CL A 232577205 5,031 103,413 SH   SOLE   103,413 0 0
CYRUSONE INC COM 23283R100 76,861 1,380,904 SH   SOLE   1,380,904 0 0
DANAHER CORP COM 235851102 124 1,614 SH   SOLE   1,614 0 0
DARDEN RESTAURANTS INC COM 237194105 21 329 SH   SOLE   329 0 0
DAVITA HEALTHCARE PARTNERS INC COM 23918K108 243 3,142 SH   SOLE   3,142 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 86,692 1,804,584 SH   SOLE   1,804,584 0 0
DDR CORPORATION COM 23317H102 187,543 10,338,660 SH   SOLE   10,338,660 0 0
DEERE & CO COM 244199105 56 686 SH   SOLE   686 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 44 710 SH   SOLE   710 0 0
DELTA AIR LINES INC COM NEW 247361702 21 573 SH   SOLE   573 0 0
DENTSPLY SIRONA INC COM 24906P109 39 632 SH   SOLE   632 0 0
DEVON ENERGY CORPORATION COM 25179M103 40 1,116 SH   SOLE   1,116 0 0
DHI GROUP INC COM 23331S100 1,883 302,312 SH   SOLE   302,312 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 921 183,185 SH   SOLE   183,185 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 85,509 9,469,467 SH   SOLE   9,469,467 0 0
DICK'S SPORTING GOODS INC COM 253393102 13 278 SH   SOLE   278 0 0
DIGITAL REALTY TRUST INC COM 253868103 257,735 2,364,754 SH   SOLE   2,364,754 0 0
DISCOVER FINANCIAL SERVICES COM 254709108 60 1,118 SH   SOLE   1,118 0 0
DISCOVERY COMMUNICATIONS -C COM SER C 25470F302 15 615 SH   SOLE   615 0 0
DISCOVERY COMMUNICATIONS INC -A COM SER A 25470F104 11 450 SH   SOLE   450 0 0
DISH NETWORK CORPORATION-A CL A 25470M109 31 588 SH   SOLE   588 0 0
DOLLAR GENERAL CORPORATION COM 256677105 70 745 SH   SOLE   745 0 0
DOLLAR TREE INC COM 256746108 59 626 SH   SOLE   626 0 0
DOMINION RESOURCES INC/VA COM 25746U109 121 1,558 SH   SOLE   1,558 0 0
DOMINO'S PIZZA INC COM 25754A201 17 129 SH   SOLE   129 0 0
DOUGLAS EMMETT INC COM 25960P109 11,792 331,974 SH   SOLE   331,974 0 0
DOVER CORP COM 260003108 294 4,247 SH   SOLE   4,247 0 0
DOW CHEMICAL COM 260543103 146 2,942 SH   SOLE   2,942 0 0
DR HORTON INC COM 23331A109 29 927 SH   SOLE   927 0 0
DR PEPPER SNAPPLE GROUP INC(US) COM 26138E109 46 479 SH   SOLE   479 0 0
DTE ENERGY COMPANY COM 233331107 245 2,470 SH   SOLE   2,470 0 0
DTS INC COM 23335C101 2,241 84,735 SH   SOLE   84,735 0 0
DU PONT (E.I.) DE NEMOURS COM 263534109 466 7,192 SH   SOLE   7,192 0 0
DUKE ENERGY CORPORATION COM NEW 26441C204 498 5,801 SH   SOLE   5,801 0 0
DUKE REALTY CORP COM NEW 264411505 194,337 7,289,461 SH   SOLE   7,289,461 0 0
DUN & BRADSTREET CORP COM 26483E100 14 112 SH   SOLE   112 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 271 5,700 SH   SOLE   5,700 0 0
E*TRADE FINANCIAL CORP COM NEW 269246401 20 846 SH   SOLE   846 0 0
EAGLE BANCORP INC COM 268948106 6,995 145,388 SH   SOLE   145,388 0 0
EAGLE PHARMACEUTICALS INC COM 269796108 483 12,461 SH   SOLE   12,461 0 0
EASTERLY GOVERNMENT PROPERTIES INC COM 27616P103 14 700 SH   SOLE   700 0 0
EASTGROUP PROPERTIES COM 277276101 86,366 1,253,128 SH   SOLE   1,253,128 0 0
EASTMAN CHEMICAL COMPANY COM 277432100 29 434 SH   SOLE   434 0 0
EATON CORPORATION PLC SHS G29183103 389 6,511 SH   SOLE   6,511 0 0
EATON VANCE CORPORATION COM NON VTG 278265103 10 294 SH   SOLE   294 0 0
EBAY INC COM 278642103 2,668 113,987 SH   SOLE   113,987 0 0
ECOLAB INC COM 278865100 82 695 SH   SOLE   695 0 0
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ENDO INTERNATIONAL PLC SHS G30401106 9 549 SH   SOLE   549 0 0
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ESSEX PROPERTY TRUST INC COM 297178105 185,117 811,598 SH   SOLE   811,598 0 0
ESTEE LAUDER COMPANIES INC-CL A CL A 518439104 53 582 SH   SOLE   582 0 0
ETHAN ALLEN INTERIORS INC COM 297602104 3,608 109,192 SH   SOLE   109,192 0 0
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EXPEDIA INC COM NEW 30212P303 34 318 SH   SOLE   318 0 0
EXPEDITORS INTERNATIONAL OF WASHINGTON COM 302130109 230 4,688 SH   SOLE   4,688 0 0
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FLEETCOR TECHNOLOGIES INC COM 339041105 34 237 SH   SOLE   237 0 0
FLEXTRONICS INTERNATIONAL LTD ORD Y2573F102 19 1,583 SH   SOLE   1,583 0 0
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FORMFACTOR INC COM 346375108 3,120 347,069 SH   SOLE   347,069 0 0
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FREEPORT-MCMORAN INC CL B 35671D857 36 3,229 SH   SOLE   3,229 0 0
FRONTIER COMMUNICATIONS CORPORATION COM 35906A108 17 3,419 SH   SOLE   3,419 0 0
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GETTY REALTY CORP COM 374297109 30 1,401 SH   SOLE   1,401 0 0
GILEAD SCIENCES INC COM 375558103 292 3,498 SH   SOLE   3,498 0 0
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GLOBAL NET LEASE INC COM 379378102 38 4,800 SH   SOLE   4,800 0 0
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GLU MOBILE INC COM 379890106 910 413,527 SH   SOLE   413,527 0 0
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GRUPO AEROPORTUARIO DEL SURESTE SA-ADR SPON ADR SER B 40051E202 3,620 22,689 SH   SOLE   22,689 0 0
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HALLIBURTON CO COM 406216101 101 2,239 SH   SOLE   2,239 0 0
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HANMI FINANCIAL CORPORATION COM NEW 410495204 2,650 112,826 SH   SOLE   112,826 0 0
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HARMAN INTERNATIONAL COM 413086109 14 200 SH   SOLE   200 0 0
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HCP INC COM 40414L109 423,547 11,971,364 SH   SOLE   11,971,364 0 0
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HEALTH CARE SELECT SECTOR SPDR FUND ETF SBI HEALTHCARE 81369Y209 15,764 219,800 SH   SOLE   219,800 0 0
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HESS CORPORATION COM 42809H107 45 749 SH   SOLE   749 0 0
HEWLETT PACKARD ENTERPRISE COMPANY COM 42824C109 81 4,452 SH   SOLE   4,452 0 0
HEWLETT-PACKARD COMPANY COM 40434L105 55 4,419 SH   SOLE   4,419 0 0
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HOLOGIC INC COM 436440101 23 671 SH   SOLE   671 0 0
HOME DEPOT INC COM 437076102 414 3,245 SH   SOLE   3,245 0 0
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HOST HOTELS & RESORTS COM 44107P104 265,595 16,384,654 SH   SOLE   16,384,654 0 0
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ITRON INC COM 465741106 331 7,676 SH   SOLE   7,676 0 0
IXYS CORPORATION COM 46600W106 1,729 168,727 SH   SOLE   168,727 0 0
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JAZZ PHARMACEUTICALS PLC SHS USD G50871105 25 177 SH   SOLE   177 0 0
JD.COM INC-ADR SPON ADR CL A 47215P106 42 2,000 SH   SOLE   2,000 0 0
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KEYCORP COM 493267108 24 2,138 SH   SOLE   2,138 0 0
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L BRANDS INC COM 501797104 43 646 SH   SOLE   646 0 0
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LOCKHEED MARTIN CORP COM 539830109 175 704 SH   SOLE   704 0 0
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MARKEL CORPORATION COM 570535104 37 39 SH   SOLE   39 0 0
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MARSH & MCLENNAN COS COM 571748102 93 1,365 SH   SOLE   1,365 0 0
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MAXIM INTEGRATED PRODUCTS INC COM 57772K101 30 842 SH   SOLE   842 0 0
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MEDNAX INC COM 58502B106 19 262 SH   SOLE   262 0 0
MEDTRONIC PLC SHS G5960L103 312 3,598 SH   SOLE   3,598 0 0
MELCO CROWN ENTERTAINMENT LTD-ADR ADR 585464100 3 266 SH   SOLE   266 0 0
MERCK & CO. INC. COM 58933Y105 409 7,102 SH   SOLE   7,102 0 0
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METLIFE INC COM 59156R108 98 2,472 SH   SOLE   2,472 0 0
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MID-AMERICA APARTMENT COM 59522J103 336,978 3,167,085 SH   SOLE   3,167,085 0 0
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MOHAWK INDUSTRIES INC COM 608190104 31 164 SH   SOLE   164 0 0
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MONDELEZ INTERNATIONAL INC CL A 609207105 183 4,015 SH   SOLE   4,015 0 0
MONMOUTH REAL ESTATE INVESTMENT COR-CL A CL A 609720107 30 2,300 SH   SOLE   2,300 0 0
MONOGRAM RESIDENTIAL TRUST INC COM 60979P105 62 6,100 SH   SOLE   6,100 0 0
MONSANTO CO COM 61166W101 119 1,151 SH   SOLE   1,151 0 0
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MOODY'S CORP COM 615369105 44 466 SH   SOLE   466 0 0
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MSCI INC COM 55354G100 20 255 SH   SOLE   255 0 0
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MYLAN NV SHS EURO N59465109 50 1,167 SH   SOLE   1,167 0 0
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NASDAQ INC COM 631103108 22 347 SH   SOLE   347 0 0
NATIONAL HEALTH INVESTORS INC COM 63633D104 14,557 193,857 SH   SOLE   193,857 0 0
NATIONAL OILWELL VARCO INC COM 637071101 36 1,072 SH   SOLE   1,072 0 0
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WASTE CONNECTIONS INC COM 94106B101 32 448 SH   SOLE   448 0 0
WASTE MANAGEMENT INC COM 94106L109 77 1,168 SH   SOLE   1,168 0 0
WATERS CORP COM 941848103 30 214 SH   SOLE   214 0 0
WEATHERFORD INTERNATIONAL PLC ORD SHS G48833100 12 2,157 SH   SOLE   2,157 0 0
WEC ENERGY GROUP INC COM 92939U106 53 808 SH   SOLE   808 0 0
WEINGARTEN REALTY INVESTORS SH BEN INT 948741103 219,910 5,387,300 SH   SOLE   5,387,300 0 0
WELLS FARGO & COMPANY COM 949746101 873 18,442 SH   SOLE   18,442 0 0
WELLTOWER INC COM 95040Q104 238,034 3,125,032 SH   SOLE   3,125,032 0 0
WELLTOWER INC-I 6.5% 6.50% PFD PREPET 95040Q203 17,303 255,200 SH   SOLE   255,200 0 0
WERNER ENTERPRISES INC COM 950755108 2,726 118,689 SH   SOLE   118,689 0 0
WESTAR ENERGY INC COM 95709T100 20 362 SH   SOLE   362 0 0
WESTERN DIGITAL CORPORATION COM 958102105 34 718 SH   SOLE   718 0 0
WESTERN UNION COMPANY COM 959802109 29 1,498 SH   SOLE   1,498 0 0
WESTROCK COMPANY COM 96145D105 29 734 SH   SOLE   734 0 0
WEYERHAEUSER CO-A 6.375% PREF CONV SER A 962166872 7,833 155,500 SH   SOLE   155,500 0 0
WEYERHAEUSER COMPANY COM 962166104 569,432 19,127,717 SH   SOLE   19,127,717 0 0
WHIRLPOOL CORP COM 963320106 34 205 SH   SOLE   205 0 0
WHITESTONE REIT COM 966084204 23 1,500 SH   SOLE   1,500 0 0
WHITEWAVE FOODS COMPANY COM 966244105 24 521 SH   SOLE   521 0 0
WHOLE FOODS MARKET INC COM 966837106 29 893 SH   SOLE   893 0 0
WILLIAM LYON HOMES CL A NEW 552074700 2,364 146,677 SH   SOLE   146,677 0 0
WILLIAMS COS INC COM 969457100 44 2,030 SH   SOLE   2,030 0 0
WILLIS TOWERS WATSON PLC SHS G96629103 43 342 SH   SOLE   342 0 0
WILSHIRE BANCORP INC COM 97186T108 2,506 240,478 SH   SOLE   240,478 0 0
WINTHROP REALTY TRUST INC SH BEN INT NEW 976391300 12 1,400 SH   SOLE   1,400 0 0
WORKDAY INC-CLASS A CL A 98138H101 23 310 SH   SOLE   310 0 0
WP CAREY INC COM 92936U109 243 3,500 SH   SOLE   3,500 0 0
WP GLIMCHER INC COM 92939N102 139 12,400 SH   SOLE   12,400 0 0
WR BERKLEY CORP COM 084423102 18 295 SH   SOLE   295 0 0
WR GRACE & CO COM 38388F108 14 185 SH   SOLE   185 0 0
WW GRAINGER INC COM 384802104 34 148 SH   SOLE   148 0 0
WYNDHAM WORLDWIDE CORPORATION COM 98310W108 22 304 SH   SOLE   304 0 0
WYNN RESORTS LTD COM 983134107 23 254 SH   SOLE   254 0 0
XCEL ENERGY INC COM 98389B100 59 1,328 SH   SOLE   1,328 0 0
XENIA HOTELS & RESORTS INC COM 984017103 104 6,200 SH   SOLE   6,200 0 0
XEROX CORPORATION COM 984121103 23 2,384 SH   SOLE   2,384 0 0
XILINX INC COM 983919101 33 723 SH   SOLE   723 0 0
XL GROUP PLC SHS G98290102 27 802 SH   SOLE   802 0 0
XYLEM INC COM 98419M100 20 457 SH   SOLE   457 0 0
YAHOO! INC COM 984332106 396 10,547 SH   SOLE   10,547 0 0
YUM! BRANDS INC COM 988498101 87 1,046 SH   SOLE   1,046 0 0
ZILLOW GROUP INC-C CL C CAP STK 98954M200 10 280 SH   SOLE   280 0 0
ZIMMER BIOMET HOLDINGS INC COM 98956P102 58 483 SH   SOLE   483 0 0
ZOETIS INC CL A 98978V103 57 1,209 SH   SOLE   1,209 0 0