Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPG	SIMON PROPERTY GROUP INC	42,937	$8.398M	7.8%	$89.91	+25.8%	REITS	828806109
PSA	PUBLIC STORAGE INC	31,990	$6.308M	5.9%	$103.90	+24.5%	REITS	74460D109
VTR	VENTAS INC	77,915	$5.69M	5.3%	$46.82	+14.1%	REITS	92276F100
—	HCP INC	110,750	$4.786M	4.5%	$42.48	—	REITS	40414L109
EQR	EQUITY RESIDENTIAL PROPS TR	53,776	$4.188M	3.9%	$33.98	+33.3%	REITS	29476L107
BXP	BOSTON PROPERTIES INC	27,173	$3.819M	3.6%	$70.38	+28.7%	REITS	101121101
—	CBL & ASSOCIATES PROPERTIES	155,162	$3.074M	2.9%	$20.14	—	REITS	124830100
VNO	VORNADO REALTY TRUST	26,495	$2.963M	2.8%	$82.89	—	REITS	929042109
—	AMERICAN CAPITAL AGENCY CORP	130,732	$2.789M	2.6%	$21.79	—	REITS	02503X105
—	SELECT INCOME REIT	107,131	$2.675M	2.5%	$25.06	—	REITS	81618T100
—	TAUBMAN CENTERS INC	33,748	$2.603M	2.4%	$72.75	—	REITS	876664103
AVB	AVALONBAY COMMUNITIES INC	13,628	$2.375M	2.2%	$92.53	+29.8%	REITS	053484101
HST	HOST HOTELS & RESORTS INC	113,048	$2.281M	2.1%	$13.28	+8.0%	REITS	44107P104
KIM	KIMCO REALTY CORP	79,877	$2.145M	2.0%	$12.86	+23.6%	REITS	49446R109
—	CORRECTIONS CORP OF AMERICA	50,758	$2.045M	1.9%	$31.80	—	REITS	22025Y407
PLD	PROLOGIS INC	44,923	$1.957M	1.8%	$28.60	+10.9%	REITS	74340W103
LQD	ISHARES Iboxx Investment Grade Corporate Bond Fund	15,700	$1.911M	1.8%	$113.58	—	Exchange Traded Fund	464287242
IRM	IRON MOUNTAIN INC	50,900	$1.856M	1.7%	$20.80	0.0%	REITS	46284V101
CDP	CORPORATE OFFICE PROPERTIES	57,355	$1.685M	1.6%	$26.51	—	REITS	22002T108
CPT	CAMDEN PROPERTY TRUST	21,555	$1.684M	1.6%	$45.97	+8.9%	REITS	133131102
DEI	DOUGLAS EMMETT INC	52,200	$1.557M	1.5%	$28.44	—	REITS	25960P109
—	GENERAL GROWTH PROPERTIES	52,162	$1.542M	1.4%	$28.04	—	REITS	370023103
—	HOME PROPERTIES INC	22,060	$1.527M	1.4%	$69.21	—	REITS	437306103
OLP	ONE LIBERTY PROPERTIES INC	60,329	$1.473M	1.4%	$21.52	—	REITS	682406103
—	EQUITY COMMONWEALTH	49,406	$1.311M	1.2%	$25.68	—	REITS	294628102
—	HEALTH CARE REIT INC	16,783	$1.299M	1.2%	$68.61	—	REITS	42217K106
SKT	TANGER FACTORY OUTLET CENTERS	35,161	$1.236M	1.2%	$33.78	—	REITS	875465106
ELS	EQUITY LIFESTYLE PROPERTIES	20,656	$1.134M	1.1%	$51.71	—	REITS	29472R108
ARE	ALEXANDRIA REAL ESTATE EQUIT	10,550	$1.034M	1.0%	$49.15	+33.6%	REITS	015271109
—	ASSOCIATED ESTATES REALTY CP	41,691	$1.029M	1.0%	$15.64	—	REITS	045604105
—	DUKE REALTY CORP	44,765	$974K	0.9%	$15.59	—	REITS	264411505
—	FEDERAL REALTY INVS TRUST	6,507	$958K	0.9%	$112.88	—	REITS	313747206
—	DDR CORP	43,964	$819K	0.8%	$17.32	—	REITS	23317H102
AFL	AFLAC INC	12,375	$792K	0.7%	$20.88	+13.1%	Common Stock	001055102
MAC	THE MACERICH CO	8,934	$753K	0.7%	$77.75	—	REITS	554382101
—	PARAMOUNT GROUP INC	39,000	$752K	0.7%	$18.92	—	REITS	69924R108
—	EQUITY ONE INC	27,770	$741K	0.7%	$25.59	—	REITS	294752100
—	HOSPITALITY PROPERTIES TRUST	21,568	$712K	0.7%	$26.48	—	REITS	44106M102
FR	FIRST INDUSTRIAL REALTY TR	32,200	$690K	0.6%	$21.01	—	REITS	32054K103
—	LIBERTY PROPERTY TRUST	18,850	$673K	0.6%	$35.81	—	REITS	531172104
EGP	EASTGROUP PROPERTIES INC	11,100	$668K	0.6%	$60.99	—	REITS	277276101
BRK/B	BERKSHIRE HATHAWAY INC.	4,600	$666K	0.6%	$110.02	+33.7%	Common Stock	084670702
—	AETNA INC	6,200	$661K	0.6%	$63.57	—	Common Stock	00817Y108
WFC	WELLS FARGO & COMPANY	12,100	$659K	0.6%	$27.36	+45.6%	Common Stock	949746101
C	CITIGROUP INC	12,375	$638K	0.6%	$37.63	+0.8%	Common Stock	172967424
CUBE	CUBESMART	24,900	$601K	0.6%	$17.74	—	REITS	229663109
CVX	CHEVRON CORPORATION	5,550	$583K	0.5%	$70.55	-5.2%	Common Stock	166764100
PG	PROCTER GAMBLE CO	6,875	$563K	0.5%	$59.29	+7.3%	Common Stock	742718109
—	HEALTHCARE TRUST OF AMERICA IN	20,150	$561K	0.5%	$26.95	—	REITS	42225P501
WMT	WAL-MART STORES INC	6,700	$551K	0.5%	$20.01	+15.1%	Common Stock	931142103
—	AMERICAN CAMPUS COMMUNITIES	12,751	$547K	0.5%	$39.21	—	REITS	024835100
MSFT	MICROSOFT CORP	13,325	$542K	0.5%	$27.49	+35.5%	Common Stock	594918104
—	VARIAN MEDICAL SYSTEMS	5,600	$527K	0.5%	$67.41	—	Common Stock	92220P105
T	AT & T INC	16,000	$523K	0.5%	$11.81	-0.1%	Common Stock	00206R102
—	SOVRAN SELF STORAGE INC	5,486	$515K	0.5%	$69.84	—	REITS	84610H108
—	CORENERGY INFRASTRUCTURE TRUST	73,979	$513K	0.5%	$6.58	—	REITS	21870U205
—	SL GREEN	3,921	$503K	0.5%	$88.19	—	REITS	78440X101
REG	REGENCY CENTERS CORP	7,371	$502K	0.5%	$33.45	+33.2%	REITS	758849103
SYK	STRYKER CORP	5,400	$498K	0.5%	$56.92	+44.0%	Common Stock	863667101
AMT	AMERICAN TOWER CORP	5,200	$490K	0.5%	$72.98	+2.3%	REITS	03027X100
—	CORESITE REALTY CORP	9,621	$468K	0.4%	$32.84	—	REITS	21870Q105
—	RETAIL PROPERTIES OF AMERICA	28,314	$454K	0.4%	$13.73	—	REITS	76131V202
—	SPIRIT REALTY CAPITAL	37,015	$447K	0.4%	$11.27	—	REITS	84860W102
INTC	INTEL CORP	13,325	$417K	0.4%	$17.14	+51.8%	Common Stock	458140100
—	POST PROPERTIES INC	7,302	$416K	0.4%	$58.75	—	REITS	737464107
KRG	KITE REALTY GROUP TRUST	12,725	$358K	0.3%	$27.91	—	REITS	49803T300
O	REALTY INCOME CORPORATION	6,800	$351K	0.3%	$25.02	+20.2%	REITS	756109104
—	CHAMBERS STREET PROPERTIES	44,500	$350K	0.3%	$7.64	—	REITS	157842105
—	NATIONAL OILWELL VARCO INC	6,950	$347K	0.3%	$69.13	—	Common Stock	637071101
—	NEW YORK REIT INC	32,600	$341K	0.3%	$10.58	—	REITS	64976L109
—	WP GLIMCHER INC	18,673	$310K	0.3%	$16.60	—	REITS	92939N102
—	BIOMED REALTY TRUST INC	13,476	$305K	0.3%	$20.47	—	REITS	09063H107
AXP	AMERICAN EXPRESS COMPANY	3,700	$289K	0.3%	$71.02	0.0%	Common Stock	025816109
UDR	UDR INC	8,402	$286K	0.3%	$15.79	+42.1%	REITS	902653104
—	TOTAL SYSTEM SERVICES INC	7,100	$271K	0.3%	$24.50	—	Common Stock	891906109
VMI	VALMONT INDUSTRIES	2,150	$264K	0.2%	$141.23	-13.2%	Common Stock	920253101
TDS	TELEPHONE AND DATA SYSTEMS	10,400	$259K	0.2%	$25.15	-0.6%	Common Stock	879433829
ESS	ESSEX PROPERTY TRUST INC	1,110	$255K	0.2%	$114.57	+38.9%	REITS	297178105
EMR	EMERSON ELECTRIC CO	4,025	$228K	0.2%	$41.81	+3.8%	Common Stock	291011104
—	RAMCO GERHENSON PROPERTIES	11,750	$219K	0.2%	$15.52	—	REITS	751452202
MAA	MID-AMERICA APARTMENT COMM INC	2,755	$213K	0.2%	$43.10	+21.9%	REITS	59522J103
—	APARTMENTS INVESTMENT	4,836	$190K	0.2%	$31.28	—	REITS	03748R101
UE	URBAN EDGE PROPERTIES	7,747	$184K	0.2%	$23.75	—	REITS	91704F104
KRC	KILROY REALTY CORP	2,280	$174K	0.2%	$53.07	—	REITS	49427F108
—	PENN REAL ESTATE INVEST TRUST	7,471	$173K	0.2%	$18.55	—	REITS	709102107
DLR	DIGITAL REALTY TRUST INC	2,600	$171K	0.2%	$39.22	+17.5%	REITS	253868103
FSP	FRANLKLIN STREET PROPERTIES C	13,314	$170K	0.2%	$13.16	—	REITS	35471R106
MMM	3M CO	1,025	$169K	0.2%	$61.26	+58.1%	Common Stock	88579Y101
—	LASALLE HOTEL PROPERTIES	4,000	$155K	0.1%	$38.75	—	REITS	517942108
—	ALLEGHANY CORP	300	$146K	0.1%	$486.67	—	Common Stock	017175100
—	APACHE CORP	2,375	$143K	0.1%	$86.86	—	Common Stock	037411105
—	ASHFORD HOSPITALITY PRIME INC	8,337	$140K	0.1%	$15.23	—	REITS	044102101
—	DCT INDUSTRIAL TRUST INC	4,000	$139K	0.1%	$35.64	—	REITS	233153204
—	STAPLES INC	8,500	$138K	0.1%	$10.84	—	Common Stock	855030102
LTC	LTC PROPERTIES INC	2,856	$131K	0.1%	$39.03	—	REITS	502175102
DNOW	NOW INC/DE	5,736	$124K	0.1%	$33.37	-30.3%	Common Stock	67011P100
—	WEINGARTEN REALTY INVST	2,998	$108K	0.1%	$30.77	—	REITS	948741103
—	FIRST POTOMAC REALTY TRUST	8,900	$106K	0.1%	$13.03	—	REITS	33610F109
VRE	MACK-CALI REALTY CORPORATION	4,879	$94,000	0.1%	$23.69	—	REITS	554489104
PDM	PIEDMONT OFFICE REALTY TRUST	1,407	$26,000	0.0%	$17.86	—	REITS	720190206
DRH	DIAMONDROCK HOSPITALITY CO	282	$4,000	0.0%	$9.29	—	REITS	252784301
—	DUPONT FABROS TECHNOLOGY INC	112	$4,000	0.0%	$26.79	—	REITS	26613Q106
ELME	WASHINGTON REAL ESTATE INV	32	$1,000	0.0%	$26.91	—	REITS	939653101