Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LQD	Ishares Iboxx Investment Grade Corporate Bond Fund	212,500	$24.26M	24.0%	$113.58	—	Exchange Traded Fund	464287242
SPG	Simon Property Group Inc	37,346	$5.682M	5.6%	$88.56	-8.6%	REITS	828806109
VNO	Vornado Realty Trust	38,495	$3.417M	3.4%	$82.89	—	REITS	929042109
—	Hospitality Properties Trust	95,154	$2.569M	2.5%	$26.31	—	REITS	44106M102
—	CBL & Associates Properties	136,362	$2.446M	2.4%	$20.69	—	REITS	124830100
PSA	Public Storage Inc	15,390	$2.315M	2.3%	$97.16	+3.1%	REITS	74460D109
VTR	Ventas Inc	34,315	$1.966M	1.9%	$47.87	-15.2%	REITS	92276F100
—	American Capital Agency Corp	97,400	$1.879M	1.9%	$21.95	—	REITS	02503X105
—	Select Income Reit	70,231	$1.877M	1.9%	$25.83	—	REITS	81618T100
VRE	Mack-Cali Realty Corporation	85,200	$1.829M	1.8%	$23.69	—	REITS	554489104
—	Associated Estates Realty CP	113,848	$1.826M	1.8%	$15.64	—	REITS	045604105
OLP	One Liberty Properties Inc	85,149	$1.712M	1.7%	$21.80	—	REITS	682406103
AVB	Avalonbay Communities Inc	14,228	$1.682M	1.7%	$87.72	-6.3%	REITS	053484101
EQR	Equity Residential Props Tr	31,176	$1.617M	1.6%	$31.42	-6.9%	REITS	29476L107
—	HCP Inc	42,750	$1.552M	1.5%	$43.56	—	REITS	40414L109
—	Lexington Realty Trust	151,320	$1.545M	1.5%	$11.45	—	REITS	529043101
UDR	UDR Inc	61,102	$1.426M	1.4%	$15.79	-1.2%	REITS	902653104
BXP	Boston Properties Inc	13,873	$1.392M	1.4%	$64.00	-3.4%	REITS	101121101
—	Liberty Property Trust	41,050	$1.39M	1.4%	$35.85	—	REITS	531172104
MAA	Mid-America Apartment Comm Inc	21,155	$1.285M	1.3%	$43.10	-5.9%	REITS	59522J103
—	Monmouth REIT Class A	131,689	$1.197M	1.2%	$9.71	—	REITS	609720107
MAC	The Macerich Co	20,043	$1.18M	1.2%	$59.82	—	REITS	554382101
KIM	Kimco Realty Corp	51,377	$1.015M	1.0%	$12.61	-7.8%	REITS	49446R109
—	Health Care Reit Inc	17,283	$926K	0.9%	$66.75	—	REITS	42217K106
PLD	Prologis Inc	24,823	$917K	0.9%	$27.85	-4.0%	REITS	74340W103
CPT	Camden Property Trust	15,263	$868K	0.9%	$42.93	-11.8%	REITS	133131102
—	Duke Realty Corp	56,765	$853K	0.8%	$15.59	—	REITS	264411505
INTC	Intel Corp	32,100	$833K	0.8%	$17.14	+4.6%	Common Stock	458140100
—	Biomed Realty Trust Inc	45,900	$831K	0.8%	$19.80	—	REITS	09063H107
ELME	Washington Real Estate Inv	34,900	$816K	0.8%	$26.91	—	REITS	939653101
SBRA	Sabra Health Care Reit Inc	29,163	$762K	0.8%	$24.80	—	REITS	78573L106
DLR	Digital Realty Trust Inc	15,200	$746K	0.7%	$39.22	-20.7%	REITS	253868103
MSFT	Microsoft Corp	19,900	$745K	0.7%	$26.70	+12.4%	Common Stock	594918104
—	Weingarten Realty Invst	25,998	$712K	0.7%	$30.77	—	REITS	948741103
OHI	Omega Healthcare Investors	23,726	$707K	0.7%	$30.89	—	REITS	681936100
WFC	Wells Fargo & Company	15,300	$694K	0.7%	$27.36	+12.4%	Common Stock	949746101
AFL	Aflac Inc	10,350	$691K	0.7%	$20.11	+22.4%	Common Stock	001055102
BRK/B	Berkshire Hathaway Inc.	5,800	$687K	0.7%	$110.02	+5.1%	Common Stock	084670702
—	SL Green	7,121	$657K	0.7%	$88.19	—	REITS	78440X101
CVX	Chevron Corporation	5,250	$656K	0.6%	$71.30	+1.7%	Common Stock	166764100
HST	Host Hotels & Resorts Inc	33,048	$642K	0.6%	$10.74	+6.1%	REITS	44107P104
—	Aetna Inc	9,200	$631K	0.6%	$63.57	—	Common Stock	00817Y108
—	DDR Corp	40,964	$629K	0.6%	$16.65	—	REITS	23317H102
ELS	Equity Lifestyle Properties	17,306	$626K	0.6%	$53.17	—	REITS	29472R108
—	Federal Realty Invs Trust	5,907	$599K	0.6%	$103.61	—	REITS	313747206
—	Penn Real Estate Invest Trust	30,241	$574K	0.6%	$18.83	—	REITS	709102107
FSP	Franlklin Street Properties C	48,114	$573K	0.6%	$13.16	—	REITS	35471R106
—	Government Properties Income	21,800	$542K	0.5%	$24.80	—	REITS	38376A103
WMT	Wal-Mart Stores Inc	6,800	$535K	0.5%	$20.01	+1.7%	Common Stock	931142103
—	Varian Medical Systems	6,800	$528K	0.5%	$67.41	—	Common Stock	92220P105
MMM	3M Co	3,700	$519K	0.5%	$61.26	+18.6%	Common Stock	88579Y101
—	American Campus Communities	15,851	$511K	0.5%	$39.21	—	REITS	024835100
UHT	Universal Health Realty Income	12,587	$504K	0.5%	$43.06	—	REITS	91359E105
—	Total System Services INC	15,100	$503K	0.5%	$24.50	—	Common Stock	891906109
EMR	Emerson Electric Co	7,000	$491K	0.5%	$40.39	+19.3%	Common Stock	291011104
—	Excel Trust Inc	41,732	$475K	0.5%	$12.67	—	REITS	30068C109
REG	Regency Centers Corp	10,271	$475K	0.5%	$33.45	-7.1%	REITS	758849103
—	Senior Housing Prop Trust	21,170	$470K	0.5%	$25.93	—	REITS	81721M109
VMI	Valmont Industries	3,150	$470K	0.5%	$141.23	0.0%	Common Stock	920253101
SYK	Stryker Corp	6,200	$466K	0.5%	$56.92	+10.8%	Common Stock	863667101
—	Ramco Gerhenson Properties	29,050	$457K	0.5%	$15.52	—	REITS	751452202
HIW	Highwood Properties Inc	12,000	$434K	0.4%	$35.58	—	REITS	431284108
PDM	Piedmont Office Realty Trust	25,932	$428K	0.4%	$17.86	—	REITS	720190206
NNN	National Retail Properties	13,300	$403K	0.4%	$31.22	—	REITS	637417106
—	Sovran Self Storage Inc	6,070	$395K	0.4%	$64.81	—	REITS	84610H108
—	Taubman Centers Inc	6,143	$393K	0.4%	$75.21	—	REITS	876664103
ARE	Alexandria Real Estate Equit	6,150	$391K	0.4%	$44.92	-7.2%	REITS	015271109
—	Inland Real Estate Corp	35,300	$371K	0.4%	$10.20	—	REITS	457461200
—	BRE Properties Inc	6,700	$366K	0.4%	$53.45	—	REITS	05564E106
SKT	Tanger Factory Outlet Centers	10,761	$344K	0.3%	$33.45	—	REITS	875465106
—	Chambers Street Properties	44,500	$340K	0.3%	$7.64	—	REITS	157842105
—	Corrections Corp of America	10,490	$336K	0.3%	$34.32	—	REITS	22025Y407
TDS	Telephone and Data Systems	11,700	$302K	0.3%	$25.15	+12.5%	Common Stock	879433829
CDP	Corporate Office Properties	11,988	$284K	0.3%	$25.52	—	REITS	22002T108
LTC	LTC Properties Inc	7,656	$271K	0.3%	$39.03	—	REITS	502175102
—	Apartments Investment	10,094	$261K	0.3%	$30.02	—	REITS	03748R101
—	Cedar Shopping Centers Inc	38,175	$239K	0.2%	$5.17	—	REITS	150602209
AHRT	Armada Hoffler Properties	25,504	$236K	0.2%	$9.88	—	REITS	04208T108
BDN	Brandywine Realty Trust	16,192	$228K	0.2%	$13.46	—	REITS	105368203
ESS	Essex Property Trust Inc	1,520	$218K	0.2%	$105.05	-0.8%	REITS	297178105
—	Post Properties Inc	4,350	$197K	0.2%	$48.29	—	REITS	737464107
DRH	Diamondrock Hospitality Co	16,282	$188K	0.2%	$9.29	—	REITS	252784301
—	Glimcher Realty Trust	19,739	$185K	0.2%	$10.94	—	REITS	379302102
MCK	McKesson Corp	1,000	$161K	0.2%	$101.46	+38.5%	Common Stock	58155Q103
WSR	Whitestone Reit	12,082	$161K	0.2%	$13.33	—	REITS	966084204
DEI	Douglas Emmett Inc	6,700	$156K	0.2%	$24.93	—	REITS	25960P109
EXR	Extra Space Storage Inc	3,500	$147K	0.1%	$26.60	+6.1%	REITS	30225T102
—	PS Business Parks Inc CA	1,708	$130K	0.1%	$72.21	—	REITS	69360J107
TIPT	Tiptree Financial Inc	17,550	$128K	0.1%	$7.42	+2.2%	REITS	88822Q103
—	LaSalle Hotel Properties	4,100	$126K	0.1%	$24.66	—	REITS	517942108
—	General Growth Properties	6,162	$124K	0.1%	$19.96	—	REITS	370023103
BRX	Brixmor Property Group Inc	6,000	$122K	0.1%	$20.33	—	REITS	11120U105
CUBE	Cubesmart	7,600	$121K	0.1%	$15.94	—	REITS	229663109
KRC	Kilroy Realty Corp	2,280	$114K	0.1%	$53.07	—	REITS	49427F108
—	First Potomac Realty Trust	8,900	$103K	0.1%	$13.03	—	REITS	33610F109
—	Cousins Properties Inc	9,691	$100K	0.1%	$10.11	—	REITS	222795106
TRNO	Terreno Realty Corp	5,428	$96,000	0.1%	$18.61	—	REITS	88146M101
—	Equity One Inc	3,970	$89,000	0.1%	$22.67	—	REITS	294752100
—	Healthcare Realty Trust Inc	3,900	$83,000	0.1%	$25.38	—	REITS	421946104
—	Preferred Apartment Commun	9,697	$78,000	0.1%	$8.04	—	REITS	74039L103
—	DCT Industrial Trust Inc	9,100	$65,000	0.1%	$7.14	—	REITS	233153105
—	Commonwealth Reit	2,649	$62,000	0.1%	$23.15	—	REITS	203233101
SHO	Sunstone Hotel Investors Inc	4,328	$58,000	0.1%	$12.01	—	REITS	867892101
SUI	Sun Communities Inc	1,340	$57,000	0.1%	$50.00	—	REITS	866674104
—	Home Properties Inc	1,060	$57,000	0.1%	$65.09	—	REITS	437306103
—	Parkway Properties Inc	2,973	$57,000	0.1%	$16.82	—	REITS	70159Q104
ADC	Agree Realty Corp	1,803	$52,000	0.1%	$29.52	—	REITS	008492100
—	Kite Realty Group Trust	7,700	$51,000	0.1%	$5.97	—	REITS	49803T102
NHI	Natl Health Investors Inc	900	$50,000	0.0%	$60.00	—	REITS	63633D104
—	Retail Properties of America	3,614	$46,000	0.0%	$14.39	—	REITS	76131V202
EGP	EastGroup Properties Inc	600	$35,000	0.0%	$56.25	—	REITS	277276101
—	Hersha Hospitality Trust	5,900	$33,000	0.0%	$5.59	—	REITS	427825104
—	Education Realty Trust Inc	3,200	$28,000	0.0%	$10.31	—	REITS	28140H104
BFS	Saul Centers Inc	500	$24,000	0.0%	$44.00	—	REITS	804395101
—	Spirit Realty Capital	1,300	$13,000	0.0%	$9.17	—	REITS	84860W102
AKR	Acadia Realty Trust	445	$11,000	0.0%	$24.72	—	REITS	004239109
—	Winthrop Realty Trust	801	$9,000	0.0%	$12.48	—	REITS	976391300
—	Investors Real Estate Trust	992	$9,000	0.0%	$9.07	—	REITS	461730103
—	ISTAR FINANCIAL INC	216	$3,000	0.0%	$9.26	—	REITS	45031U101
FR	First Industrial Realty Tr	200	$3,000	0.0%	$15.17	—	REITS	32054K103
—	DuPont Fabros Technology Inc	112	$3,000	0.0%	$26.79	—	REITS	26613Q106
—	Trade Street Residential Inc REIT	408	$3,000	0.0%	$9.80	—	REITS	89255N203
—	Annaly Capital Management Inc	200	$2,000	0.0%	$15.00	—	REITS	035710409
—	Rouse Properties Inc	32	$1,000	0.0%	$19.63	—	REITS	779287101