Pensionfund PDN Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TJX	TJX COMPANIES INC	40,500	$2,777	0.4%	$27.33	0.0%	COMMON STOCK	872540109
SBRA	SABRA HEALTH CARE REIT INC	91,400	$2,776	0.4%	$30.37	—	COMMON STOCK	78573L106
GLPI	GAMING AND LEISURE PROPERTIE	81,000	$2,377	0.3%	$29.35	—	COMMON STOCK	36467J108
—	CAMPUS CREST COMMUNITIES INC	260,000	$1,901	0.3%	$7.31	—	COMMON STOCK	13466Y105
—	AMERICAN REALTY CAPITAL PROP	207,000	$1,873	0.3%	$9.05	—	COMMON STOCK	02917T104
BWA	BORGWARNER INC	18,400	$1,011	0.1%	$41.30	0.0%	COMMON STOCK	099724106

Increased Positions (14)

— MEAD JOHNSON NUTRITION CO 0.9%

Value ($000) $6,233 (+139.9%) Shares 62,000 (+129.6%) Est. Cost $93.99 Unrealized —

— HESS CORP 0.8%

Value ($000) $5,758 (+82.2%) Shares 78,000 (+132.8%) Est. Cost $70.67 Unrealized —

ABBV ABBVIE INC 0.9%

Value ($000) $6,151 (+61.4%) Shares 94,000 (+42.4%) Est. Cost $30.63 Unrealized +31.4%

— MEDTRONIC INC 1.0%

Value ($000) $6,866 (+35.8%) Shares 95,100 (+16.5%) Est. Cost $55.88 Unrealized —

DIS WALT DISNEY CO/THE 0.9%

Value ($000) $6,518 (+32.6%) Shares 69,200 (+25.4%) Est. Cost $61.21 Unrealized +32.8%

JNJ JOHNSON and JOHNSON 1.8%

Value ($000) $12,653 (+14.1%) Shares 121,000 (+16.3%) Est. Cost $62.14 Unrealized +24.4%

GILD GILEAD SCIENCES INC 1.2%

Value ($000) $8,860 (+18.9%) Shares 94,000 (+34.3%) Est. Cost $63.39 Unrealized +13.4%

ADC AGREE REALTY CORP 0.3%

Value ($000) $2,107 (+195.9%) Shares 67,760 (+160.6%) Est. Cost $29.67 Unrealized —

FMC FMC CORP 0.6%

Value ($000) $4,163 (+45.5%) Shares 73,000 (+45.9%) Est. Cost $43.21 Unrealized -11.8%

— DUKE REALTY CORP 0.4%

Value ($000) $2,849 (+49.4%) Shares 141,024 (+27.0%) Est. Cost $16.81 Unrealized —

GIS GENERAL MILLS INC 0.6%

Value ($000) $4,426 (+25.3%) Shares 83,000 (+18.6%) Est. Cost $32.49 Unrealized +8.5%

SKT TANGER FACTORY OUTLET CENTER 0.5%

Value ($000) $3,326 (+27.9%) Shares 90,000 (+13.2%) Est. Cost $34.04 Unrealized —

— SENIOR HOUSING PROP TRUST 0.5%

Value ($000) $3,385 (+22.5%) Shares 153,100 (+15.9%) Est. Cost $24.07 Unrealized —

— SELECT INCOME REIT 0.5%

Value ($000) $3,486 (+13.4%) Shares 142,800 (+11.7%) Est. Cost $27.36 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	MEAD JOHNSON NUTRITION CO	62,000 (+129.6%)	$6,233 (+139.9%)	0.9%	$93.99	—	COMMON STOCK	582839106
—	HESS CORP	78,000 (+132.8%)	$5,758 (+82.2%)	0.8%	$70.67	—	COMMON STOCK	42809H107
ABBV	ABBVIE INC	94,000 (+42.4%)	$6,151 (+61.4%)	0.9%	$30.63	+31.4%	COMMON STOCK	00287Y109
—	MEDTRONIC INC	95,100 (+16.5%)	$6,866 (+35.8%)	1.0%	$55.88	—	COMMON STOCK	585055106
DIS	WALT DISNEY CO/THE	69,200 (+25.4%)	$6,518 (+32.6%)	0.9%	$61.21	+32.8%	COMMON STOCK	254687106
JNJ	JOHNSON and JOHNSON	121,000 (+16.3%)	$12,653 (+14.1%)	1.8%	$62.14	+24.4%	COMMON STOCK	478160104
GILD	GILEAD SCIENCES INC	94,000 (+34.3%)	$8,860 (+18.9%)	1.2%	$63.39	+13.4%	COMMON STOCK	375558103
ADC	AGREE REALTY CORP	67,760 (+160.6%)	$2,107 (+195.9%)	0.3%	$29.67	—	COMMON STOCK	008492100
FMC	FMC CORP	73,000 (+45.9%)	$4,163 (+45.5%)	0.6%	$43.21	-11.8%	COMMON STOCK	302491303
—	DUKE REALTY CORP	141,024 (+27.0%)	$2,849 (+49.4%)	0.4%	$16.81	—	COMMON STOCK	264411505
GIS	GENERAL MILLS INC	83,000 (+18.6%)	$4,426 (+25.3%)	0.6%	$32.49	+8.5%	COMMON STOCK	370334104
SKT	TANGER FACTORY OUTLET CENTER	90,000 (+13.2%)	$3,326 (+27.9%)	0.5%	$34.04	—	COMMON STOCK	875465106
—	SENIOR HOUSING PROP TRUST	153,100 (+15.9%)	$3,385 (+22.5%)	0.5%	$24.07	—	COMMON STOCK	81721M109
—	SELECT INCOME REIT	142,800 (+11.7%)	$3,486 (+13.4%)	0.5%	$27.36	—	COMMON STOCK	81618T100

Exited Positions (9)

PRU PRUDENTIAL FINANCIAL INC 0.5%

Value ($000) $3,482 Shares 39,600 Est. Cost $43.51 Unrealized +22.1%

TGT TARGET CORP 0.4%

Value ($000) $2,601 Shares 41,500 Est. Cost $47.95 Unrealized +1.3%

— DR PEPPER SNAPPLE GROUP INC 0.3%

Value ($000) $2,058 Shares 32,000 Est. Cost $45.92 Unrealized —

— VIACOM INC-CLASS B 0.2%

Value ($000) $1,500 Shares 19,500 Est. Cost $68.02 Unrealized —

— CONSOL ENERGY INC 0.2%

Value ($000) $1,465 Shares 38,700 Est. Cost $27.10 Unrealized —

— FEDERAL REALTY INVS TRUST 0.2%

Value ($000) $1,240 Shares 10,468 Est. Cost $103.65 Unrealized —

HOG HARLEY-DAVIDSON INC 0.2%

Value ($000) $1,083 Shares 18,600 Est. Cost $54.04 Unrealized +19.5%

— DIAMOND OFFSHORE DRILLING 0.1%

Value ($000) $565 Shares 16,500 Est. Cost $68.81 Unrealized —

DNOW NOW INC 0.1%

Value ($000) $418 Shares 13,750 Est. Cost $33.70 Unrealized -18.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PRU	PRUDENTIAL FINANCIAL INC	39,600	$3,482	0.5%	$43.51	+22.1%	—	744320102
TGT	TARGET CORP	41,500	$2,601	0.4%	$47.95	+1.3%	—	87612E106
—	DR PEPPER SNAPPLE GROUP INC	32,000	$2,058	0.3%	$45.92	—	—	26138E109
—	VIACOM INC-CLASS B	19,500	$1,500	0.2%	$68.02	—	—	92553P201
—	CONSOL ENERGY INC	38,700	$1,465	0.2%	$27.10	—	—	20854P109
—	FEDERAL REALTY INVS TRUST	10,468	$1,240	0.2%	$103.65	—	—	313747206
HOG	HARLEY-DAVIDSON INC	18,600	$1,083	0.2%	$54.04	+19.5%	—	412822108
—	DIAMOND OFFSHORE DRILLING	16,500	$565	0.1%	$68.81	—	—	25271C102
DNOW	NOW INC	13,750	$418	0.1%	$33.70	-18.8%	—	67011P100

Decreased Positions (17)

KO COCA-COLA CO/THE 0.8%

Value ($000) $6,122 (-22.0%) Shares 145,000 (-21.2%) Est. Cost $27.89 Unrealized +7.8%

— ACCENTURE PLC-CL A 1.9%

Value ($000) $13,739 (+8.7%) Shares 126,850 (-7.2%) Est. Cost $45.43 Unrealized —

— LASALLE HOTEL PROPERTIES 0.1%

Value ($000) $793 (-55.5%) Shares 19,600 (-62.4%) Est. Cost $24.70 Unrealized —

ELS EQUITY LIFESTYLE PROPERTIES 0.3%

Value ($000) $2,474 (-21.1%) Shares 48,000 (-35.1%) Est. Cost $51.32 Unrealized —

ARE ALEXANDRIA REAL ESTATE EQUIT 0.4%

Value ($000) $2,857 (-15.4%) Shares 32,200 (-29.7%) Est. Cost $45.03 Unrealized +25.4%

— HCP INC 0.9%

Value ($000) $6,146 (-6.0%) Shares 139,593 (-15.2%) Est. Cost $41.99 Unrealized —

VTR VENTAS INC 0.9%

Value ($000) $6,143 (+6.2%) Shares 85,682 (-8.2%) Est. Cost $46.69 Unrealized +3.4%

SPG SIMON PROPERTY GROUP INC 1.8%

Value ($000) $12,622 (-2.7%) Shares 69,308 (-12.2%) Est. Cost $87.97 Unrealized +16.9%

— WEINGARTEN REALTY INVESTORS 0.2%

Value ($000) $1,583 (-16.7%) Shares 45,336 (-24.9%) Est. Cost $30.78 Unrealized —

UDR UDR INC 0.4%

Value ($000) $2,523 (-7.3%) Shares 81,867 (-18.0%) Est. Cost $15.84 Unrealized +28.1%

HST HOST HOTELS and RESORTS INC 0.5%

Value ($000) $3,589 (-5.2%) Shares 150,998 (-14.9%) Est. Cost $10.74 Unrealized +34.7%

— ASSOCIATED ESTATES REALTY CP 0.4%

Value ($000) $2,936 (+7.2%) Shares 126,500 (-19.2%) Est. Cost $16.59 Unrealized —

— PHYSICIANS REALTY TRUST 0.3%

Value ($000) $1,959 (-7.9%) Shares 118,000 (-23.9%) Est. Cost $13.94 Unrealized —

RLJ RLJ LODGING TRUST 0.4%

Value ($000) $2,656 (-5.0%) Shares 79,200 (-19.3%) Est. Cost $23.24 Unrealized —

— DCT INDUSTRIAL TRUST INC 0.1%

Value ($000) $821 (+18.6%) Shares 23,025 (-75.0%) Est. Cost $7.16 Unrealized —

SUI SUN COMMUNITIES INC 0.3%

Value ($000) $2,270 (-4.5%) Shares 37,553 (-20.2%) Est. Cost $48.11 Unrealized —

— CHESAPEAKE LODGING TRUST 0.3%

Value ($000) $1,916 (-1.9%) Shares 51,500 (-23.1%) Est. Cost $22.49 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KO	COCA-COLA CO/THE	145,000 (-21.2%)	$6,122 (-22.0%)	0.8%	$27.89	+7.8%	COMMON STOCK	191216100
—	ACCENTURE PLC-CL A	126,850 (-7.2%)	$13,739 (+8.7%)	1.9%	$45.43	—	COMMON STOCK	000000000
—	LASALLE HOTEL PROPERTIES	19,600 (-62.4%)	$793 (-55.5%)	0.1%	$24.70	—	COMMON STOCK	517942108
ELS	EQUITY LIFESTYLE PROPERTIES	48,000 (-35.1%)	$2,474 (-21.1%)	0.3%	$51.32	—	COMMON STOCK	29472R108
ARE	ALEXANDRIA REAL ESTATE EQUIT	32,200 (-29.7%)	$2,857 (-15.4%)	0.4%	$45.03	+25.4%	COMMON STOCK	015271109
—	HCP INC	139,593 (-15.2%)	$6,146 (-6.0%)	0.9%	$41.99	—	COMMON STOCK	40414L109
VTR	VENTAS INC	85,682 (-8.2%)	$6,143 (+6.2%)	0.9%	$46.69	+3.4%	COMMON STOCK	92276F100
SPG	SIMON PROPERTY GROUP INC	69,308 (-12.2%)	$12,622 (-2.7%)	1.8%	$87.97	+16.9%	COMMON STOCK	828806109
—	WEINGARTEN REALTY INVESTORS	45,336 (-24.9%)	$1,583 (-16.7%)	0.2%	$30.78	—	COMMON STOCK	948741103
UDR	UDR INC	81,867 (-18.0%)	$2,523 (-7.3%)	0.4%	$15.84	+28.1%	COMMON STOCK	902653104
HST	HOST HOTELS and RESORTS INC	150,998 (-14.9%)	$3,589 (-5.2%)	0.5%	$10.74	+34.7%	COMMON STOCK	44107P104
—	ASSOCIATED ESTATES REALTY CP	126,500 (-19.2%)	$2,936 (+7.2%)	0.4%	$16.59	—	COMMON STOCK	045604105
—	PHYSICIANS REALTY TRUST	118,000 (-23.9%)	$1,959 (-7.9%)	0.3%	$13.94	—	COMMON STOCK	71943U104
RLJ	RLJ LODGING TRUST	79,200 (-19.3%)	$2,656 (-5.0%)	0.4%	$23.24	—	COMMON STOCK	74965L101
—	DCT INDUSTRIAL TRUST INC	23,025 (-75.0%)	$821 (+18.6%)	0.1%	$7.16	—	COMMON STOCK	233153105
SUI	SUN COMMUNITIES INC	37,553 (-20.2%)	$2,270 (-4.5%)	0.3%	$48.11	—	COMMON STOCK	866674104
—	CHESAPEAKE LODGING TRUST	51,500 (-23.1%)	$1,916 (-1.9%)	0.3%	$22.49	—	COMMON STOCK	165240102

Unchanged Positions (126)

HAL HALLIBURTON CO 0.4%

Value ($000) $2,619 Shares 66,600 Est. Cost $33.21 Unrealized +18.3%

PWR QUANTA SERVICES INC 0.8%

Value ($000) $5,621 Shares 198,000 Est. Cost $27.23 Unrealized +13.2%

IBM INTL BUSINESS MACHINES CORP 1.1%

Value ($000) $7,878 Shares 49,100 Est. Cost $116.68 Unrealized -13.9%

ORCL ORACLE CORP 1.3%

Value ($000) $9,534 Shares 212,000 Est. Cost $27.58 Unrealized +25.1%

— WISCONSIN ENERGY CORP 0.9%

Value ($000) $6,645 Shares 126,000 Est. Cost $46.64 Unrealized —

KR KROGER CO 0.9%

Value ($000) $6,293 Shares 98,000 Est. Cost $13.44 Unrealized +73.9%

MMM 3M CO 1.2%

Value ($000) $8,669 Shares 52,759 Est. Cost $69.19 Unrealized +29.6%

HD HOME DEPOT INC 1.3%

Value ($000) $9,080 Shares 86,500 Est. Cost $57.87 Unrealized +29.3%

UNH UNITEDHEALTH GROUP INC 1.1%

Value ($000) $7,784 Shares 77,000 Est. Cost $59.54 Unrealized +33.1%

OXY OCCIDENTAL PETROLEUM CORP 0.8%

Value ($000) $5,925 Shares 73,500 Est. Cost $63.26 Unrealized -6.3%

AMGN AMGEN INC 1.3%

Value ($000) $9,557 Shares 60,000 Est. Cost $73.34 Unrealized +54.5%

SLB SCHLUMBERGER LTD 0.8%

Value ($000) $5,808 Shares 68,000 Est. Cost $55.91 Unrealized +20.4%

CVS CVS HEALTH CORPORATION 0.9%

Value ($000) $6,260 Shares 65,000 Est. Cost $43.41 Unrealized +48.4%

AAPL APPLE INC 1.6%

Value ($000) $11,590 Shares 105,000 Est. Cost $17.95 Unrealized +34.2%

A AGILENT TECHNOLOGIES INC 0.4%

Value ($000) $2,542 Shares 62,100 Est. Cost $31.40 Unrealized +17.3%

CTSH COGNIZANT TECH SOLUTIONS-A 0.8%

Value ($000) $5,930 Shares 112,600 Est. Cost $40.87 Unrealized +8.4%

— NOBLE ENERGY INC 0.3%

Value ($000) $1,945 Shares 41,000 Est. Cost $60.04 Unrealized —

— TIME WARNER INC 0.9%

Value ($000) $6,731 Shares 78,800 Est. Cost $57.82 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.8%

Value ($000) $5,962 Shares 101,000 Est. Cost $28.67 Unrealized +35.7%

PG PROCTER and GAMBLE CO/THE 1.3%

Value ($000) $9,564 Shares 105,000 Est. Cost $55.38 Unrealized +16.7%

ROST ROSS STORES INC 0.5%

Value ($000) $3,733 Shares 39,600 Est. Cost $30.20 Unrealized +25.3%

CL COLGATE-PALMOLIVE CO 1.7%

Value ($000) $12,454 Shares 180,000 Est. Cost $48.50 Unrealized +7.6%

WFC WELLS FARGO and CO 1.8%

Value ($000) $13,047 Shares 238,000 Est. Cost $27.89 Unrealized +39.0%

AVB AVALONBAY COMMUNITIES INC 0.7%

Value ($000) $4,823 Shares 29,520 Est. Cost $85.93 Unrealized +25.9%

MAC MACERICH CO/THE 0.4%

Value ($000) $2,670 Shares 32,007 Est. Cost $60.58 Unrealized —

DLTR DOLLAR TREE INC 0.4%

Value ($000) $3,012 Shares 42,800 Est. Cost $48.73 Unrealized +29.4%

— GOOGLE INC-CL A 0.8%

Value ($000) $5,577 Shares 10,510 Est. Cost $880.35 Unrealized —

NEE NEXTERA ENERGY INC 0.7%

Value ($000) $5,102 Shares 48,000 Est. Cost $14.15 Unrealized +33.5%

— NATIONAL OILWELL VARCO INC 0.5%

Value ($000) $3,604 Shares 55,000 Est. Cost $71.17 Unrealized —

— ANADARKO PETROLEUM CORP 0.3%

Value ($000) $2,475 Shares 30,000 Est. Cost $93.00 Unrealized —

PFE PFIZER INC 1.6%

Value ($000) $11,170 Shares 358,600 Est. Cost $16.60 Unrealized +8.2%

EQR EQUITY RESIDENTIAL 0.5%

Value ($000) $3,869 Shares 53,856 Est. Cost $31.42 Unrealized +27.0%

— UNITED TECHNOLOGIES CORP 0.9%

Value ($000) $6,670 Shares 58,000 Est. Cost $92.95 Unrealized —

PSA PUBLIC STORAGE 0.7%

Value ($000) $5,226 Shares 28,274 Est. Cost $97.16 Unrealized +20.7%

— GOOGLE INC-CL C 0.8%

Value ($000) $5,532 Shares 10,510 Est. Cost $575.26 Unrealized —

— HEALTH CARE REIT INC 0.4%

Value ($000) $2,940 Shares 38,853 Est. Cost $67.03 Unrealized —

UNP UNION PACIFIC CORP 0.8%

Value ($000) $5,647 Shares 47,400 Est. Cost $67.45 Unrealized +32.6%

VNO VORNADO REALTY TRUST 0.5%

Value ($000) $3,268 Shares 27,765 Est. Cost $82.84 Unrealized —

MAA MID-AMERICA APARTMENT COMM 0.5%

Value ($000) $3,958 Shares 53,000 Est. Cost $43.58 Unrealized +10.9%

MRK MERCK and CO. INC. 1.5%

Value ($000) $10,631 Shares 187,200 Est. Cost $31.08 Unrealized +26.6%

— HOSPITALITY PROPERTIES TRUST 0.5%

Value ($000) $3,485 Shares 112,434 Est. Cost $27.41 Unrealized —

JPM JPMORGAN CHASE and CO 1.7%

Value ($000) $12,453 Shares 199,000 Est. Cost $38.53 Unrealized +16.0%

TRV TRAVELERS COS INC/THE 0.6%

Value ($000) $4,022 Shares 38,000 Est. Cost $63.44 Unrealized +24.5%

CSCO CISCO SYSTEMS INC 0.6%

Value ($000) $4,673 Shares 168,000 Est. Cost $15.57 Unrealized +17.6%

COST COSTCO WHOLESALE CORP 0.5%

Value ($000) $3,686 Shares 26,000 Est. Cost $91.64 Unrealized +19.4%

CMCSA COMCAST CORP-CLASS A 0.8%

Value ($000) $6,044 Shares 105,000 Est. Cost $15.62 Unrealized +36.1%

SBUX STARBUCKS CORP 0.7%

Value ($000) $5,218 Shares 63,600 Est. Cost $24.37 Unrealized +28.3%

KIM KIMCO REALTY CORP 0.4%

Value ($000) $3,236 Shares 128,731 Est. Cost $12.61 Unrealized +13.8%

SO SOUTHERN CO/THE 0.5%

Value ($000) $3,732 Shares 76,000 Est. Cost $26.74 Unrealized +10.3%

— HOME PROPERTIES INC 0.5%

Value ($000) $3,582 Shares 54,600 Est. Cost $61.92 Unrealized —

EPR EPR PROPERTIES 0.5%

Value ($000) $3,302 Shares 57,300 Est. Cost $51.02 Unrealized —

MKC MCCORMICK and CO-NON VTG SHRS 0.5%

Value ($000) $3,938 Shares 53,000 Est. Cost $27.81 Unrealized +4.0%

VFC VF CORP 0.5%

Value ($000) $3,273 Shares 43,700 Est. Cost $50.62 Unrealized +30.7%

UPS UNITED PARCEL SERVICE-CL B 0.5%

Value ($000) $3,257 Shares 29,300 Est. Cost $55.38 Unrealized +28.1%

FOSL FOSSIL GROUP INC 0.3%

Value ($000) $2,436 Shares 22,000 Est. Cost $116.53 Unrealized -10.4%

COP CONOCOPHILLIPS 0.5%

Value ($000) $3,315 Shares 48,000 Est. Cost $39.96 Unrealized +22.3%

AMAT APPLIED MATERIALS INC 0.4%

Value ($000) $2,684 Shares 107,700 Est. Cost $12.22 Unrealized +60.9%

— KRAFT FOODS GROUP INC 0.5%

Value ($000) $3,424 Shares 54,650 Est. Cost $56.01 Unrealized —

ZBH ZIMMER HOLDINGS INC 0.4%

Value ($000) $2,994 Shares 26,400 Est. Cost $67.30 Unrealized +42.9%

CAT CATERPILLAR INC 0.6%

Value ($000) $4,073 Shares 44,500 Est. Cost $63.99 Unrealized +14.6%

— GENERAL GROWTH PROPERTIES 0.3%

Value ($000) $1,843 Shares 65,500 Est. Cost $19.86 Unrealized —

ECL ECOLAB INC 0.4%

Value ($000) $3,031 Shares 29,000 Est. Cost $81.64 Unrealized +18.4%

LLY ELI LILLY and CO 0.7%

Value ($000) $4,919 Shares 71,300 Est. Cost $42.21 Unrealized +30.8%

MO ALTRIA GROUP INC 0.6%

Value ($000) $4,237 Shares 86,000 Est. Cost $16.28 Unrealized +46.0%

C CITIGROUP INC 0.9%

Value ($000) $6,699 Shares 123,800 Est. Cost $36.70 Unrealized +7.7%

KMB KIMBERLY-CLARK CORP 0.6%

Value ($000) $4,044 Shares 35,000 Est. Cost $63.06 Unrealized +20.7%

INTC INTEL CORP 0.9%

Value ($000) $6,797 Shares 187,300 Est. Cost $17.18 Unrealized +55.0%

EMN EASTMAN CHEMICAL CO 0.6%

Value ($000) $4,021 Shares 53,000 Est. Cost $48.74 Unrealized +14.1%

BXP BOSTON PROPERTIES INC 0.4%

Value ($000) $2,627 Shares 20,417 Est. Cost $64.00 Unrealized +23.8%

DLR DIGITAL REALTY TRUST INC 0.6%

Value ($000) $4,416 Shares 66,600 Est. Cost $37.62 Unrealized +17.8%

— LIBERTY PROPERTY TRUST 0.3%

Value ($000) $2,224 Shares 59,096 Est. Cost $36.96 Unrealized —

— KELLOGG CO 0.6%

Value ($000) $4,254 Shares 65,000 Est. Cost $39.38 Unrealized +3.3%

BDN BRANDYWINE REALTY TRUST 0.3%

Value ($000) $1,924 Shares 120,400 Est. Cost $13.58 Unrealized —

ABT ABBOTT LABORATORIES 0.4%

Value ($000) $2,971 Shares 66,000 Est. Cost $28.85 Unrealized +22.4%

— MONSANTO CO 0.5%

Value ($000) $3,823 Shares 32,000 Est. Cost $98.81 Unrealized —

— INLAND REAL ESTATE CORP 0.3%

Value ($000) $2,327 Shares 212,500 Est. Cost $10.26 Unrealized —

DE DEERE and CO 0.4%

Value ($000) $3,008 Shares 34,000 Est. Cost $68.04 Unrealized +3.8%

CPT CAMDEN PROPERTY TRUST 0.4%

Value ($000) $3,047 Shares 41,269 Est. Cost $41.27 Unrealized +16.3%

— BIOMED REALTY TRUST INC 0.5%

Value ($000) $3,371 Shares 156,500 Est. Cost $20.45 Unrealized —

WM WASTE MANAGEMENT INC 0.4%

Value ($000) $2,643 Shares 51,500 Est. Cost $30.75 Unrealized +27.0%

MCK MCKESSON CORP 0.4%

Value ($000) $3,031 Shares 14,600 Est. Cost $101.46 Unrealized +84.2%

BIIB BIOGEN IDEC INC 1.0%

Value ($000) $7,264 Shares 21,400 Est. Cost $213.68 Unrealized +51.4%

DVN DEVON ENERGY CORPORATION 0.2%

Value ($000) $1,622 Shares 26,500 Est. Cost $37.00 Unrealized +11.2%

XOM EXXON MOBIL CORP 1.5%

Value ($000) $10,632 Shares 115,000 Est. Cost $53.80 Unrealized +7.8%

USB US BANCORP 0.4%

Value ($000) $2,594 Shares 57,700 Est. Cost $22.41 Unrealized +29.9%

— TIME WARNER CABLE 0.4%

Value ($000) $2,996 Shares 19,700 Est. Cost $112.47 Unrealized —

PM PHILIP MORRIS INTERNATIONAL 1.0%

Value ($000) $7,005 Shares 86,000 Est. Cost $49.85 Unrealized -1.3%

HIW HIGHWOODS PROPERTIES INC 0.2%

Value ($000) $1,364 Shares 30,802 Est. Cost $35.61 Unrealized —

BAC BANK OF AMERICA CORP 0.5%

Value ($000) $3,446 Shares 192,600 Est. Cost $10.57 Unrealized +28.3%

— GENERAL ELECTRIC CO 1.6%

Value ($000) $11,422 Shares 452,000 Est. Cost $23.45 Unrealized —

— SL GREEN REALTY CORP 0.1%

Value ($000) $1,062 Shares 8,923 Est. Cost $88.17 Unrealized —

— PETSMART INC 0.2%

Value ($000) $1,138 Shares 14,000 Est. Cost $76.29 Unrealized —

NEM NEWMONT MINING CORP 0.1%

Value ($000) $686 Shares 36,300 Est. Cost $25.34 Unrealized -38.0%

— ST JUDE MEDICAL INC 0.3%

Value ($000) $1,938 Shares 29,800 Est. Cost $45.64 Unrealized —

BK BANK OF NEW YORK MELLON CORP 0.4%

Value ($000) $3,189 Shares 78,600 Est. Cost $21.22 Unrealized +40.2%

— RETAIL OPPORTUNITY INVESTMEN 0.2%

Value ($000) $1,167 Shares 69,500 Est. Cost $13.90 Unrealized —

ESS ESSEX PROPERTY TRUST INC 0.1%

Value ($000) $1,033 Shares 5,000 Est. Cost $105.05 Unrealized +31.7%

PEP PEPSICO INC 1.2%

Value ($000) $8,700 Shares 92,000 Est. Cost $56.00 Unrealized +22.5%

— MEADWESTVACO CORP 0.2%

Value ($000) $1,687 Shares 38,000 Est. Cost $34.11 Unrealized —

AMP AMERIPRISE FINANCIAL INC 0.3%

Value ($000) $1,944 Shares 14,700 Est. Cost $59.57 Unrealized +67.9%

— JOY GLOBAL INC 0.1%

Value ($000) $726 Shares 15,600 Est. Cost $48.53 Unrealized —

PNC PNC FINANCIAL SERVICES GROUP 0.3%

Value ($000) $1,989 Shares 21,800 Est. Cost $51.33 Unrealized +19.5%

AFL AFLAC INC 0.3%

Value ($000) $2,450 Shares 40,100 Est. Cost $22.45 Unrealized +1.1%

— HEALTHCARE REALTY TRUST INC 0.1%

Value ($000) $756 Shares 27,682 Est. Cost $25.50 Unrealized —

CF CF Industries Holdings INC 0.5%

Value ($000) $3,489 Shares 12,800 Est. Cost $27.49 Unrealized +40.8%

— COACH INC 0.2%

Value ($000) $1,638 Shares 43,600 Est. Cost $54.52 Unrealized —

ADM ARCHER-DANIELS-MIDLAND CO 0.6%

Value ($000) $4,451 Shares 85,600 Est. Cost $23.37 Unrealized +54.1%

MCD MCDONALD'S CORP 0.8%

Value ($000) $6,034 Shares 64,400 Est. Cost $71.80 Unrealized -1.7%

— PRECISION CASTPARTS CORP 0.6%

Value ($000) $4,360 Shares 18,100 Est. Cost $227.24 Unrealized —

CE CELANESE CORP-SERIES A 0.4%

Value ($000) $2,848 Shares 47,500 Est. Cost $37.17 Unrealized +27.1%

EL ESTEE LAUDER COMPANIES-CL A 0.5%

Value ($000) $3,277 Shares 43,000 Est. Cost $58.22 Unrealized +10.1%

— DU PONT (E.I.) DE NEMOURS 0.3%

Value ($000) $2,019 Shares 27,300 Est. Cost $52.51 Unrealized —

— AIRGAS INC 0.2%

Value ($000) $1,474 Shares 12,800 Est. Cost $101.54 Unrealized —

NSC NORFOLK SOUTHERN CORP 0.4%

Value ($000) $2,959 Shares 27,000 Est. Cost $57.67 Unrealized +48.8%

BAX BAXTER INTERNATIONAL INC 0.4%

Value ($000) $2,638 Shares 36,000 Est. Cost $30.40 Unrealized +6.2%

— PRICELINE GROUP INC/THE 0.4%

Value ($000) $3,124 Shares 2,740 Est. Cost $1011.00 Unrealized —

QCOM QUALCOMM INC 1.2%

Value ($000) $8,325 Shares 112,000 Est. Cost $45.76 Unrealized +16.6%

BEN FRANKLIN RESOURCES INC 0.4%

Value ($000) $2,824 Shares 51,000 Est. Cost $32.15 Unrealized +3.3%

NUS NU SKIN ENTERPRISES INC - A 0.2%

Value ($000) $1,245 Shares 28,500 Est. Cost $57.45 Unrealized -46.6%

MOS MOSAIC CO/THE 0.2%

Value ($000) $1,141 Shares 25,000 Est. Cost $46.26 Unrealized -23.4%

MET METLIFE INC 0.6%

Value ($000) $4,354 Shares 80,500 Est. Cost $28.08 Unrealized +16.7%

EBAY EBAY INC 0.4%

Value ($000) $3,053 Shares 54,400 Est. Cost $19.82 Unrealized +1.9%

— EMC CORP/MA 0.2%

Value ($000) $1,657 Shares 55,700 Est. Cost $23.61 Unrealized —

EMR EMERSON ELECTRIC CO 0.2%

Value ($000) $1,426 Shares 23,100 Est. Cost $40.02 Unrealized +16.0%

MSFT MICROSOFT CORP 1.1%

Value ($000) $7,804 Shares 168,000 Est. Cost $26.70 Unrealized +49.3%

— PRAXAIR INC 0.5%

Value ($000) $3,369 Shares 26,000 Est. Cost $125.26 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HAL	HALLIBURTON CO	66,600	$2,619	0.4%	$33.21	+18.3%	COMMON STOCK	406216101
PWR	QUANTA SERVICES INC	198,000	$5,621	0.8%	$27.23	+13.2%	COMMON STOCK	74762E102
IBM	INTL BUSINESS MACHINES CORP	49,100	$7,878	1.1%	$116.68	-13.9%	COMMON STOCK	459200101
ORCL	ORACLE CORP	212,000	$9,534	1.3%	$27.58	+25.1%	COMMON STOCK	68389X105
—	WISCONSIN ENERGY CORP	126,000	$6,645	0.9%	$46.64	—	COMMON STOCK	976657106
KR	KROGER CO	98,000	$6,293	0.9%	$13.44	+73.9%	COMMON STOCK	501044101
MMM	3M CO	52,759	$8,669	1.2%	$69.19	+29.6%	COMMON STOCK	88579Y101
HD	HOME DEPOT INC	86,500	$9,080	1.3%	$57.87	+29.3%	COMMON STOCK	437076102
UNH	UNITEDHEALTH GROUP INC	77,000	$7,784	1.1%	$59.54	+33.1%	COMMON STOCK	91324P102
OXY	OCCIDENTAL PETROLEUM CORP	73,500	$5,925	0.8%	$63.26	-6.3%	COMMON STOCK	674599105
AMGN	AMGEN INC	60,000	$9,557	1.3%	$73.34	+54.5%	COMMON STOCK	031162100
SLB	SCHLUMBERGER LTD	68,000	$5,808	0.8%	$55.91	+20.4%	COMMON STOCK	806857108
CVS	CVS HEALTH CORPORATION	65,000	$6,260	0.9%	$43.41	+48.4%	COMMON STOCK	126650100
AAPL	APPLE INC	105,000	$11,590	1.6%	$17.95	+34.2%	COMMON STOCK	037833100
A	AGILENT TECHNOLOGIES INC	62,100	$2,542	0.4%	$31.40	+17.3%	COMMON STOCK	00846U101
CTSH	COGNIZANT TECH SOLUTIONS-A	112,600	$5,930	0.8%	$40.87	+8.4%	COMMON STOCK	192446102
—	NOBLE ENERGY INC	41,000	$1,945	0.3%	$60.04	—	COMMON STOCK	655044105
—	TIME WARNER INC	78,800	$6,731	0.9%	$57.82	—	COMMON STOCK	887317303
BMY	BRISTOL-MYERS SQUIBB CO	101,000	$5,962	0.8%	$28.67	+35.7%	COMMON STOCK	110122108
PG	PROCTER and GAMBLE CO/THE	105,000	$9,564	1.3%	$55.38	+16.7%	COMMON STOCK	742718109
ROST	ROSS STORES INC	39,600	$3,733	0.5%	$30.20	+25.3%	COMMON STOCK	778296103
CL	COLGATE-PALMOLIVE CO	180,000	$12,454	1.7%	$48.50	+7.6%	COMMON STOCK	194162103
WFC	WELLS FARGO and CO	238,000	$13,047	1.8%	$27.89	+39.0%	COMMON STOCK	949746101
AVB	AVALONBAY COMMUNITIES INC	29,520	$4,823	0.7%	$85.93	+25.9%	COMMON STOCK	053484101
MAC	MACERICH CO/THE	32,007	$2,670	0.4%	$60.58	—	COMMON STOCK	554382101
DLTR	DOLLAR TREE INC	42,800	$3,012	0.4%	$48.73	+29.4%	COMMON STOCK	256746108
—	GOOGLE INC-CL A	10,510	$5,577	0.8%	$880.35	—	COMMON STOCK	38259P508
NEE	NEXTERA ENERGY INC	48,000	$5,102	0.7%	$14.15	+33.5%	COMMON STOCK	65339F101
—	NATIONAL OILWELL VARCO INC	55,000	$3,604	0.5%	$71.17	—	COMMON STOCK	637071101
—	ANADARKO PETROLEUM CORP	30,000	$2,475	0.3%	$93.00	—	COMMON STOCK	032511107
PFE	PFIZER INC	358,600	$11,170	1.6%	$16.60	+8.2%	COMMON STOCK	717081103
EQR	EQUITY RESIDENTIAL	53,856	$3,869	0.5%	$31.42	+27.0%	COMMON STOCK	29476L107
—	UNITED TECHNOLOGIES CORP	58,000	$6,670	0.9%	$92.95	—	COMMON STOCK	913017109
PSA	PUBLIC STORAGE	28,274	$5,226	0.7%	$97.16	+20.7%	COMMON STOCK	74460D109
—	GOOGLE INC-CL C	10,510	$5,532	0.8%	$575.26	—	COMMON STOCK	38259P706
—	HEALTH CARE REIT INC	38,853	$2,940	0.4%	$67.03	—	COMMON STOCK	42217K106
UNP	UNION PACIFIC CORP	47,400	$5,647	0.8%	$67.45	+32.6%	COMMON STOCK	907818108
VNO	VORNADO REALTY TRUST	27,765	$3,268	0.5%	$82.84	—	COMMON STOCK	929042109
MAA	MID-AMERICA APARTMENT COMM	53,000	$3,958	0.5%	$43.58	+10.9%	COMMON STOCK	59522J103
MRK	MERCK and CO. INC.	187,200	$10,631	1.5%	$31.08	+26.6%	COMMON STOCK	58933Y105
—	HOSPITALITY PROPERTIES TRUST	112,434	$3,485	0.5%	$27.41	—	COMMON STOCK	44106M102
JPM	JPMORGAN CHASE and CO	199,000	$12,453	1.7%	$38.53	+16.0%	COMMON STOCK	46625H100
TRV	TRAVELERS COS INC/THE	38,000	$4,022	0.6%	$63.44	+24.5%	COMMON STOCK	89417E109
CSCO	CISCO SYSTEMS INC	168,000	$4,673	0.6%	$15.57	+17.6%	COMMON STOCK	17275R102
COST	COSTCO WHOLESALE CORP	26,000	$3,686	0.5%	$91.64	+19.4%	COMMON STOCK	22160K105
CMCSA	COMCAST CORP-CLASS A	105,000	$6,044	0.8%	$15.62	+36.1%	COMMON STOCK	20030N101
SBUX	STARBUCKS CORP	63,600	$5,218	0.7%	$24.37	+28.3%	COMMON STOCK	855244109
KIM	KIMCO REALTY CORP	128,731	$3,236	0.4%	$12.61	+13.8%	COMMON STOCK	49446R109
SO	SOUTHERN CO/THE	76,000	$3,732	0.5%	$26.74	+10.3%	COMMON STOCK	842587107
—	HOME PROPERTIES INC	54,600	$3,582	0.5%	$61.92	—	COMMON STOCK	437306103
EPR	EPR PROPERTIES	57,300	$3,302	0.5%	$51.02	—	COMMON STOCK	26884U109
MKC	MCCORMICK and CO-NON VTG SHRS	53,000	$3,938	0.5%	$27.81	+4.0%	COMMON STOCK	579780206
VFC	VF CORP	43,700	$3,273	0.5%	$50.62	+30.7%	COMMON STOCK	918204108
UPS	UNITED PARCEL SERVICE-CL B	29,300	$3,257	0.5%	$55.38	+28.1%	COMMON STOCK	911312106
FOSL	FOSSIL GROUP INC	22,000	$2,436	0.3%	$116.53	-10.4%	COMMON STOCK	34988V106
COP	CONOCOPHILLIPS	48,000	$3,315	0.5%	$39.96	+22.3%	COMMON STOCK	20825C104
AMAT	APPLIED MATERIALS INC	107,700	$2,684	0.4%	$12.22	+60.9%	COMMON STOCK	038222105
—	KRAFT FOODS GROUP INC	54,650	$3,424	0.5%	$56.01	—	COMMON STOCK	50076Q106
ZBH	ZIMMER HOLDINGS INC	26,400	$2,994	0.4%	$67.30	+42.9%	COMMON STOCK	98956P102
CAT	CATERPILLAR INC	44,500	$4,073	0.6%	$63.99	+14.6%	COMMON STOCK	149123101
—	GENERAL GROWTH PROPERTIES	65,500	$1,843	0.3%	$19.86	—	COMMON STOCK	370023103
ECL	ECOLAB INC	29,000	$3,031	0.4%	$81.64	+18.4%	COMMON STOCK	278865100
LLY	ELI LILLY and CO	71,300	$4,919	0.7%	$42.21	+30.8%	COMMON STOCK	532457108
MO	ALTRIA GROUP INC	86,000	$4,237	0.6%	$16.28	+46.0%	COMMON STOCK	02209S103
C	CITIGROUP INC	123,800	$6,699	0.9%	$36.70	+7.7%	COMMON STOCK	172967424
KMB	KIMBERLY-CLARK CORP	35,000	$4,044	0.6%	$63.06	+20.7%	COMMON STOCK	494368103
INTC	INTEL CORP	187,300	$6,797	0.9%	$17.18	+55.0%	COMMON STOCK	458140100
EMN	EASTMAN CHEMICAL CO	53,000	$4,021	0.6%	$48.74	+14.1%	COMMON STOCK	277432100
BXP	BOSTON PROPERTIES INC	20,417	$2,627	0.4%	$64.00	+23.8%	COMMON STOCK	101121101
DLR	DIGITAL REALTY TRUST INC	66,600	$4,416	0.6%	$37.62	+17.8%	COMMON STOCK	253868103
—	LIBERTY PROPERTY TRUST	59,096	$2,224	0.3%	$36.96	—	COMMON STOCK	531172104
—	KELLOGG CO	65,000	$4,254	0.6%	$39.38	+3.3%	COMMON STOCK	487836108
BDN	BRANDYWINE REALTY TRUST	120,400	$1,924	0.3%	$13.58	—	COMMON STOCK	105368203
ABT	ABBOTT LABORATORIES	66,000	$2,971	0.4%	$28.85	+22.4%	COMMON STOCK	002824100
—	MONSANTO CO	32,000	$3,823	0.5%	$98.81	—	COMMON STOCK	61166W101
—	INLAND REAL ESTATE CORP	212,500	$2,327	0.3%	$10.26	—	COMMON STOCK	457461200
DE	DEERE and CO	34,000	$3,008	0.4%	$68.04	+3.8%	COMMON STOCK	244199105
CPT	CAMDEN PROPERTY TRUST	41,269	$3,047	0.4%	$41.27	+16.3%	COMMON STOCK	133131102
—	BIOMED REALTY TRUST INC	156,500	$3,371	0.5%	$20.45	—	COMMON STOCK	09063H107
WM	WASTE MANAGEMENT INC	51,500	$2,643	0.4%	$30.75	+27.0%	COMMON STOCK	94106L109
MCK	MCKESSON CORP	14,600	$3,031	0.4%	$101.46	+84.2%	COMMON STOCK	58155Q103
BIIB	BIOGEN IDEC INC	21,400	$7,264	1.0%	$213.68	+51.4%	COMMON STOCK	09062X103
DVN	DEVON ENERGY CORPORATION	26,500	$1,622	0.2%	$37.00	+11.2%	COMMON STOCK	25179M103
XOM	EXXON MOBIL CORP	115,000	$10,632	1.5%	$53.80	+7.8%	COMMON STOCK	30231G102
USB	US BANCORP	57,700	$2,594	0.4%	$22.41	+29.9%	COMMON STOCK	902973304
—	TIME WARNER CABLE	19,700	$2,996	0.4%	$112.47	—	COMMON STOCK	88732J207
PM	PHILIP MORRIS INTERNATIONAL	86,000	$7,005	1.0%	$49.85	-1.3%	COMMON STOCK	718172109
HIW	HIGHWOODS PROPERTIES INC	30,802	$1,364	0.2%	$35.61	—	COMMON STOCK	431284108
BAC	BANK OF AMERICA CORP	192,600	$3,446	0.5%	$10.57	+28.3%	COMMON STOCK	060505104
—	GENERAL ELECTRIC CO	452,000	$11,422	1.6%	$23.45	—	COMMON STOCK	369604103
—	SL GREEN REALTY CORP	8,923	$1,062	0.1%	$88.17	—	COMMON STOCK	78440X101
—	PETSMART INC	14,000	$1,138	0.2%	$76.29	—	COMMON STOCK	716768106
NEM	NEWMONT MINING CORP	36,300	$686	0.1%	$25.34	-38.0%	COMMON STOCK	651639106
—	ST JUDE MEDICAL INC	29,800	$1,938	0.3%	$45.64	—	COMMON STOCK	790849103
BK	BANK OF NEW YORK MELLON CORP	78,600	$3,189	0.4%	$21.22	+40.2%	COMMON STOCK	064058100
—	RETAIL OPPORTUNITY INVESTMEN	69,500	$1,167	0.2%	$13.90	—	COMMON STOCK	76131N101
ESS	ESSEX PROPERTY TRUST INC	5,000	$1,033	0.1%	$105.05	+31.7%	COMMON STOCK	297178105
PEP	PEPSICO INC	92,000	$8,700	1.2%	$56.00	+22.5%	COMMON STOCK	713448108
—	MEADWESTVACO CORP	38,000	$1,687	0.2%	$34.11	—	COMMON STOCK	583334107
AMP	AMERIPRISE FINANCIAL INC	14,700	$1,944	0.3%	$59.57	+67.9%	COMMON STOCK	03076C106
—	JOY GLOBAL INC	15,600	$726	0.1%	$48.53	—	COMMON STOCK	481165108
PNC	PNC FINANCIAL SERVICES GROUP	21,800	$1,989	0.3%	$51.33	+19.5%	COMMON STOCK	693475105
AFL	AFLAC INC	40,100	$2,450	0.3%	$22.45	+1.1%	COMMON STOCK	001055102
—	HEALTHCARE REALTY TRUST INC	27,682	$756	0.1%	$25.50	—	COMMON STOCK	421946104
CF	CF Industries Holdings INC	12,800	$3,489	0.5%	$27.49	+40.8%	COMMON STOCK	125269100
—	COACH INC	43,600	$1,638	0.2%	$54.52	—	COMMON STOCK	189754101
ADM	ARCHER-DANIELS-MIDLAND CO	85,600	$4,451	0.6%	$23.37	+54.1%	COMMON STOCK	039483102
MCD	MCDONALD'S CORP	64,400	$6,034	0.8%	$71.80	-1.7%	COMMON STOCK	580135101
—	PRECISION CASTPARTS CORP	18,100	$4,360	0.6%	$227.24	—	COMMON STOCK	740189105
CE	CELANESE CORP-SERIES A	47,500	$2,848	0.4%	$37.17	+27.1%	COMMON STOCK	150870103
EL	ESTEE LAUDER COMPANIES-CL A	43,000	$3,277	0.5%	$58.22	+10.1%	COMMON STOCK	518439104
—	DU PONT (E.I.) DE NEMOURS	27,300	$2,019	0.3%	$52.51	—	COMMON STOCK	263534109
—	AIRGAS INC	12,800	$1,474	0.2%	$101.54	—	COMMON STOCK	009363102
NSC	NORFOLK SOUTHERN CORP	27,000	$2,959	0.4%	$57.67	+48.8%	COMMON STOCK	655844108
BAX	BAXTER INTERNATIONAL INC	36,000	$2,638	0.4%	$30.40	+6.2%	COMMON STOCK	071813109
—	PRICELINE GROUP INC/THE	2,740	$3,124	0.4%	$1011.00	—	COMMON STOCK	741503403
QCOM	QUALCOMM INC	112,000	$8,325	1.2%	$45.76	+16.6%	COMMON STOCK	747525103
BEN	FRANKLIN RESOURCES INC	51,000	$2,824	0.4%	$32.15	+3.3%	COMMON STOCK	354613101
NUS	NU SKIN ENTERPRISES INC - A	28,500	$1,245	0.2%	$57.45	-46.6%	COMMON STOCK	67018T105
MOS	MOSAIC CO/THE	25,000	$1,141	0.2%	$46.26	-23.4%	COMMON STOCK	61945C103
MET	METLIFE INC	80,500	$4,354	0.6%	$28.08	+16.7%	COMMON STOCK	59156R108
EBAY	EBAY INC	54,400	$3,053	0.4%	$19.82	+1.9%	COMMON STOCK	278642103
—	EMC CORP/MA	55,700	$1,657	0.2%	$23.61	—	COMMON STOCK	268648102
EMR	EMERSON ELECTRIC CO	23,100	$1,426	0.2%	$40.02	+16.0%	COMMON STOCK	291011104
MSFT	MICROSOFT CORP	168,000	$7,804	1.1%	$26.70	+49.3%	COMMON STOCK	594918104
—	PRAXAIR INC	26,000	$3,369	0.5%	$125.26	—	COMMON STOCK	74005P104