Brookfield Asset Management (BAM) 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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
ABB LTD	SPONSORED ADR	000375204	774	43,702	SH		DFND	1	43,702	0	0
ADVANTAGE OIL & GAS LTD	COM	00765F101	1,079	212,240	SH		DFND	1	212,240	0	0
AES CORP	COM	00130H105	1,273	133,050	SH		DFND	1	133,050	0	0
AGCO CORP	COM	001084102	445	9,823	SH		DFND	1	9,823	0	0
AGRIUM INC	COM	008916108	446	5,000	SH		DFND	1	5,000	0	0
ALCOA INC	COM	013817101	310	31,422	SH		DFND	1	31,422	0	0
ALEXANDERS INC	COM	014752109	38,791	100,991	SH		DFND	1	73,346	0	27,645
ALLIANCE RES PARTNER L P	UT LTD PART	01877R108	39	2,950	SH		DFND	1	2,950	0	0
AMERICAN TOWER CORP NEW	COM	03027X100	300,842	3,103,072	SH		DFND	1	2,627,264	0	475,808
AMERICAN WTR WKS CO INC NEW	COM	030420103	129,443	2,166,425	SH		DFND	1	1,823,025	0	343,400
ANADARKO PETE CORP	COM	032511107	85	1,750	SH		DFND	1	1,750	0	0
APPLE INC	COM	037833100	7,058	67,060	SH		DFND	1	67,060	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	203	5,561	SH		DFND	1	5,561	0	0
ARDMORE SHIPPING CORP	COM	Y0207T100	378	29,790	SH		DFND	1	29,790	0	0
ASPEN TECHNOLOGY INC	COM	045327103	476	12,620	SH		DFND	1	12,620	0	0
AVALONBAY CMNTYS INC	COM	053484101	169,686	921,559	SH		DFND	1	747,663	0	173,896
AVANGRID INC	COM	05351W103	216	5,640	SH		DFND	1	5,640	0	0
AXIALL CORP	COM	05463D100	425	27,610	SH		DFND	1	27,610	0	0
B&G FOODS INC NEW	COM	05508R106	483	13,810	SH		DFND	1	13,810	0	0
BAKER HUGHES INC	COM	057224107	398	8,641	SH		DFND	1	8,641	0	0
BANK AMER CORP	COM	060505104	8,345	495,850	SH		DFND	1	495,850	0	0
BARRICK GOLD CORP	COM	067901108	190	25,824	SH		DFND	1	25,824	0	0
BHP BILLITON LTD	SPONSORED ADR	088606108	675	26,236	SH		DFND	1	26,236	0	0
BOARDWALK PIPELINE PARTNERS	UT LTD PARTNER	096627104	27,072	2,085,681	SH		DFND	1	1,417,381	0	668,300
BOSTON PROPERTIES INC	COM	101121101	25,354	198,800	SH		DFND	1	158,300	0	40,500
BP PLC	SPONSORED ADR	055622104	4,128	132,066	SH		DFND	1	132,066	0	0
BRANDYWINE RLTY TR	SH BEN INT NEW	105368203	172,706	12,643,252	SH		DFND	1	10,171,759	0	2,471,493
BREITBURN ENERGY PARTNERS LP	COM UT LTD PTN	106776107	8	13,075	SH		DFND	1	13,075	0	0
BROOKDALE SR LIVING INC	COM	112463104	14,718	797,300	SH		DFND	1	676,900	0	120,400
Brookfield Canada Office Properties	Trust Units	112823109	200,824	10,564,117	SH		DFND	2	10,564,117	0	0
BROOKFIELD GLOBL LISTED INFR	COM SHS	11273Q109	257	21,930	SH		DFND	1	0	0	21,930
BROOKFIELD HIGH INCOME FD IN	COM	11272P102	81	11,800	SH		DFND	1	0	0	11,800
BROOKFIELD INFRAST PARTNERS LP INT UNIT	LP Units	G16252101	6,309	166,430	SH		DFND		166,430	0	0
BROOKFIELD MTG OPP INC FD IN	COM	112792106	345	23,450	SH		DFND	1	0	0	23,450
BROOKFIELD PPTY PARTNERS LP LP UNIT	LP Units	G16249107	1,051,608	45,249,901	SH		DFND		45,249,901	0	0
BROOKFIELD RENEWABLE ENERGY PARTNERS LP LIMITED PARTNERSHIP	LP Units	G16258108	1,047,906	40,026,986	SH		DFND		40,026,986	0	0
BUNGE LIMITED	COM	G16962105	62	912	SH		DFND	1	912	0	0
C&J ENERGY SVCS LTD	SHS	G3164Q101	335	70,530	SH		DFND	1	70,530	0	0
CABOT OIL & GAS CORP	COM	127097103	91	5,160	SH		DFND	1	5,160	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	128,555	1,674,770	SH		DFND	1	1,346,672	0	328,098
CARE CAP PPTYS INC	COM	141624106	132,650	4,339,247	SH		DFND	1	3,497,249	0	841,998
CBL & ASSOC PPTYS INC	COM	124830100	174,159	14,079,179	SH		DFND	1	11,023,883	0	3,055,296
CBRE CLARION GLOBAL REAL EST	COM	12504G100	1,341	175,595	SH		DFND	1	139,495	0	36,100
CELESTICA INC	SUB VTG SHS	15101Q108	6,914	624,903	SH		DFND	1	0	0	624,903
CENOVUS ENERGY INC	COM	15135U109	1,224	96,760	SH		DFND	1	96,760	0	0
CENTERPOINT ENERGY INC	COM	15189T107	36,921	2,010,952	SH		DFND	1	1,781,752	0	229,200
CENTURYLINK INC	COM	156700106	1,152	45,820	SH		DFND	1	45,820	0	0
CF INDS HLDGS INC	COM	125269100	661	16,220	SH		DFND	1	16,220	0	0
CHICAGO BRIDGE & IRON CO N V	COM	167250109	510	13,100	SH		DFND	1	13,100	0	0
CIMAREX ENERGY CO	COM	171798101	134	1,500	SH		DFND	1	1,500	0	0
CIVEO CORP CDA	COM	17878Y108	1,877	1,322,406	SH		DFND	1	1,322,406	0	0
COCA COLA CO	COM	191216100	6,950	161,800	SH		DFND	1	161,800	0	0
COLUMBIA PIPELINE GROUP INC	COM	198280109	57,258	2,862,904	SH		DFND	1	2,343,304	0	519,600
COLUMBIA PIPELINE PARTNERS L	COM UT REPSTG	198281107	14,351	821,000	SH		DFND	1	579,300	0	241,700
CONCHO RES INC	COM	20605P101	358	3,860	SH		DFND	1	3,860	0	0
CORPORATE OFFICE PPTYS TR	SH BEN INT	22002T108	103,873	4,758,304	SH		DFND	1	3,875,904	0	882,400
COSAN LTD	SHS A	G25343107	3,653	990,100	SH		DFND	1	990,100	0	0
CRESTWOOD EQUITY PARTNERS LP	UNIT LTD PARTNER	226344208	11,451	551,080	SH		DFND	1	453,144	0	97,936
CRH PLC	ADR	12626K203	208	7,240	SH		DFND	1	7,240	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	186,755	2,160,272	SH		DFND	1	1,828,772	0	331,500
CSX CORP	COM	126408103	36,286	1,398,305	SH		DFND	1	1,159,305	0	239,000
CYRUSONE INC	COM	23283R100	58,595	1,564,635	SH		DFND	1	1,265,735	0	298,900
DDR CORP	COM	23317H102	12,380	735,200	SH		DFND	1	735,200	0	0
DHT HOLDINGS INC	SHS NEW	Y2065G121	661	81,780	SH		DFND	1	81,780	0	0
DIGITAL RLTY TR INC	COM	253868103	59,785	790,600	SH		DFND	1	640,100	0	150,500
DYNEGY INC	COMMON	26817R108	4,355	325,000	SH		DFND	3	325,000	0	0
DYNEGY INC	COMMON	26817R108	1,340	100,000	SH	Call	DFND	3	100,000	0	0
ENABLE MIDSTREAM PARTNERS LP	COM UNIT RP IN	292480100	4,107	446,425	SH		DFND	1	272,501	0	173,924
ENBRIDGE ENERGY MANAGEMENT L	SHS UNITS LLI	29250X103	14,846	664,865	SH		DFND	1	664,865	0	0
ENBRIDGE INC	COM	29250N105	178,670	5,370,993	SH		DFND	1	4,435,593	0	935,400
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	15,976	1,162,790	SH		DFND	1	843,290	0	319,500
ENERGY TRANSFER PARTNERS L P	UNIT LTD PARTN	29273R109	113,944	3,378,130	SH		DFND	1	2,628,930	0	749,200
ENLINK MIDSTREAM PARTNERS LP	COM UNIT REP LTD	29336U107	129	7,800	SH		DFND	1	7,800	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	155,645	6,084,662	SH		DFND	1	4,349,162	0	1,735,500
EPR PPTYS	PFD C CNV 5.75%	26884U208	262	10,952	SH		DFND	1	10,952	0	0
EPR PPTYS	CONV PFD 9% SR E	26884U307	2,041	65,398	SH		DFND	1	65,398	0	0
EQT MIDSTREAM PARTNERS LP	UNIT LTD PARTN	26885B100	38,201	506,251	SH		DFND	1	366,851	0	139,400
EQUITY COMWLTH	CUM PFD S D 6.5%	294628201	1,462	58,830	SH		DFND	1	58,830	0	0
Equity One Inc.	Common Stock	294752100	34	1,259	SH		DFND	2	1,259	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	174,834	2,142,844	SH		DFND	1	1,727,044	0	415,800
EURONAV NV ANTWERPEN	SHS	B38564108	532	38,860	SH		DFND	1	38,860	0	0
EV ENERGY PARTNERS LP	COM UNITS	26926V107	44	16,011	SH		DFND	1	16,011	0	0
EVERSOURCE ENERGY	COM	30040W108	158,798	3,109,430	SH		DFND	1	2,601,130	0	508,300
FIBRIA CELULOSE S A	SP ADR REP COM	31573A109	592	46,685	SH		DFND	1	46,685	0	0
FIRST MAJESTIC SILVER CORP	COM	32076V103	988	303,184	SH		DFND	1	0	0	303,184
FORD MTR CO DEL	COM PAR $0.01	345370860	1,758	124,800	SH		DFND	1	124,800	0	0
FORTRESS TRANS INFRST INVS L	COM REP LTD LIAB	34960P101	6,514	578,557	SH		DFND	1	44,400	0	534,157
FORTUNE BRANDS HOME & SEC IN	COM	34964C106	1,104	19,905	SH		DFND	1	19,905	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	162	23,985	SH		DFND	1	23,985	0	0
GASLOG LTD	SHS	G37585109	623	75,000	SH		DFND	3	75,000	0	0
GENER8 MARITIME INC	COM	Y26889108	262	27,800	SH		DFND	1	27,800	0	0
GENERAL ELECTRIC CO	COM	369604103	3,512	112,750	SH		DFND	1	112,750	0	0
General Growth Properties	Common Stock	370023103	8,149,531	299,504,977	SH		DFND	2	299,504,977	0	0
GENERAL MLS INC	COM	370334104	7,478	129,696	SH		DFND	1	129,696	0	0
GENERAL MTRS CO	COM	37045V100	8,966	263,650	SH		DFND	1	263,650	0	0
GENERAL MTRS CO	*W EXP 07/10/201	37045V118	831	34,193	SH		DFND	1	34,193	0	0
GENERAL MTRS CO	*W EXP 07/10/201	37045V126	557	34,193	SH		DFND	1	34,193	0	0
GENESEE & WYO INC	CL A	371559105	579	10,800	SH		DFND	1	10,800	0	0
GPO AEROPORTUARIO DEL PAC SA	SPON ADR B	400506101	15,595	176,657	SH		DFND	1	176,657	0	0
GRAMERCY PPTY TR	COM	385002100	15,895	2,059,010	SH		DFND	1	1,629,665	0	429,345
GRANITE CONSTR INC	COM	387328107	371	8,667	SH		DFND	1	8,667	0	0
GROUPE CGI INC	CL A SUB VTG	39945C109	21,083	526,258	SH		DFND	1	0	0	526,258
GULFPORT ENERGY CORP	COM NEW	402635304	735	29,940	SH		DFND	1	29,940	0	0
HALLIBURTON CO	COM	406216101	376	11,072	SH		DFND	1	11,072	0	0
HCP INC	COM	40414L109	79,605	2,081,727	SH		DFND	1	1,587,627	0	494,100
HERSHA HOSPITALITY TR	PR SHS BEN INT	427825500	83,056	3,816,924	SH		DFND	1	3,077,649	0	739,275
HIGHWOODS PPTYS INC	COM	431284108	89,282	2,047,766	SH		DFND	1	1,558,960	0	488,806
HOST HOTELS & RESORTS INC	COM	44107P104	156,807	10,222,161	SH		DFND	1	8,313,207	0	1,908,954
HSBC HLDGS PLC	SPON ADR NEW	404280406	1,974	50,000	SH	Put	DFND	3	50,000	0	0
HUDSON PAC PPTYS INC	COM	444097109	122,391	4,349,381	SH		DFND	1	3,530,453	0	818,928
HYATT HOTELS CORP	COM CL A	448579102	8,895	189,181	SH		DFND	1	150,681	0	38,500
INTL PAPER CO	COM	460146103	268	7,127	SH		DFND	1	7,127	0	0
ISHARES	MSCI TURKEY ETF	464286715	1,239	34,100	SH		DFND	1	34,100	0	0
ISHARES TR	IBOXX HI YD ETF	464288513	2,881	35,750	SH		DFND	3	35,750	0	0
ISHARES TR	IBOXX HI YD ETF	464288513	12,087	150,000	SH	Put	DFND	3	150,000	0	0
ISTAR INC	COM	45031U101	13,165	1,122,400	SH		DFND	1	898,700	0	223,700
ITC HLDGS CORP	COM	465685105	49,624	1,264,310	SH		DFND	1	1,049,210	0	215,100
JOHNSON & JOHNSON	COM	478160104	7,874	76,656	SH		DFND	1	76,656	0	0
JPMORGAN CHASE & CO	COM	46625H100	8,547	129,450	SH		DFND	1	129,450	0	0
KELLOGG CO	COM	487836108	7,091	98,120	SH		DFND	1	98,120	0	0
KILROY RLTY CORP	COM	49427F108	97,085	1,534,222	SH		DFND	1	1,243,522	0	290,700
KINDER MORGAN INC DEL	COM	49456B101	31,846	2,134,483	SH		DFND	1	2,134,483	0	0
LA QUINTA HLDGS INC	COM	50420D108	20,155	1,480,900	SH		DFND	1	1,179,800	0	301,100
LEXINGTON REALTY TRUST	PFD CONV SER C	529043309	152	3,200	SH		DFND	1	3,200	0	0
LOUISIANA PAC CORP	COM	546347105	481	26,722	SH		DFND	1	26,722	0	0
LOWES COS INC	COM	548661107	748	9,841	SH		DFND	1	9,841	0	0
M & T BANK CORP	COM	55261F104	2,084	17,200	SH		DFND	1	17,200	0	0
MACQUARIE INFRASTRUCTURE COR	COM	55608B105	10,621	146,307	SH		DFND	1	146,307	0	0
MCDONALDS CORP	COM	580135101	7,555	63,950	SH		DFND	1	63,950	0	0
MGM RESORTS INTERNATIONAL	COM	552953101	11,898	523,700	SH		DFND	1	413,800	0	109,900
MID-AMERICA APT COMNTYS INC	COM	59522J103	81,314	895,432	SH		DFND	1	745,912	0	149,520
MONDELEZ INTL INC	CL A	609207105	9,719	216,750	SH		DFND	1	216,750	0	0
MONSANTO CO NEW	COM	61166W101	637	6,473	SH		DFND	1	6,473	0	0
MPLX LP	COM UNIT REP LTD	55336V100	19,552	497,148	SH		DFND	1	361,049	0	136,099
NATIONAL OILWELL VARCO INC	COM	637071101	1,058	31,610	SH		DFND	1	31,610	0	0
NEW GOLD INC CDA	COM	644535106	1,218	523,469	SH		DFND	1	0	0	523,469
NEWMONT MINING CORP	COM	651639106	195	10,888	SH		DFND	1	10,888	0	0
NEXTERA ENERGY INC	COM	65339F101	1,071	10,310	SH		DFND	1	10,310	0	0
NISOURCE INC	COM	65473P105	90,800	4,654,064	SH		DFND	1	3,905,664	0	748,400
NORTHSTAR ASSET MGMT GROUP I	COM	66705Y104	10,683	880,000	SH		DFND	1	703,000	0	177,000
NORTHSTAR REALTY EUROPE CORP	COM	66706L101	30	2,600	SH		DFND	1	2,600	0	0
NORTHSTAR RLTY FIN CORP	COM	66704R803	100,775	5,917,528	SH		DFND	1	4,770,578	0	1,146,950
NORTHWESTERN CORP	COM NEW	668074305	200	3,700	SH		DFND	1	3,700	0	0
NRG YIELD INC	CL A NEW	62942X306	102	7,360	SH		DFND	1	7,360	0	0
NRG YIELD INC	CL C	62942X405	103	7,010	SH		DFND	1	7,010	0	0
NUSTAR ENERGY LP	UNIT COM	67058H102	6,827	170,256	SH		DFND	1	170,256	0	0
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	92	4,350	SH		DFND	1	4,350	0	0
ONE GAS INC	COM	68235P108	48,653	969,763	SH		DFND	1	845,923	0	123,840
OUTFRONT MEDIA INC	COM	69007J106	210,401	9,638,171	SH		DFND	1	7,806,201	0	1,831,970
PARKER DRILLING CO	COMMON	701081101	3,458	1,900,000	SH		DFND	3	1,900,000	0	0
PATTERN ENERGY GROUP INC	CL A	70338P100	6,689	319,910	SH		DFND	1	319,910	0	0
PEMBINA PIPELINE CORP	COM	706327103	34,258	1,574,385	SH		DFND	1	1,574,385	0	0
PEMBINA PIPELINE CORP	COM	706327103	50,301	2,307,044	SH		DFND	1	1,574,385	0	732,659
PENGROWTH ENERGY CORP	COM	70706P104	178	241,900	SH		DFND	1	241,900	0	0
PFIZER INC	COM	717081103	6,137	190,125	SH		DFND	1	190,125	0	0
PG&E CORP	COM	69331C108	196,937	3,702,526	SH		DFND	1	3,088,826	0	613,700
PHILIP MORRIS INTL INC	COM	718172109	6,704	76,265	SH		DFND	1	76,265	0	0
PLUM CREEK TIMBER CO INC	COM	729251108	95	2,000	SH		DFND	1	2,000	0	0
PLY GEM HLDGS INC	COMMON	72941W100	1,254	100,000	SH		DFND	3	100,000	0	0
POTASH CORP OF SASK INC	COM	73755L107	297	17,401	SH		DFND	1	17,401	0	0
PPG INDS INC	COM	693506107	1,032	10,450	SH		DFND	1	10,450	0	0
PROCTER & GAMBLE CO	COM	742718109	6,450	81,230	SH		DFND	1	81,230	0	0
PROLOGIS INC	COM	74340W103	319,932	7,454,157	SH		DFND	1	6,037,635	0	1,416,522
RICE ENERGY INC	COM	762760106	450	41,360	SH		DFND	1	41,360	0	0
RICE MIDSTREAM PARTNERS LP	UNIT LTD PARTN	762819100	10,489	777,610	SH		DFND	1	557,710	0	219,900
RIO TINTO PLC	SPONSORED ADR	767204100	752	25,849	SH		DFND	1	25,849	0	0
Rouse	Common Stock	779287101	282,284	19,387,624	SH		DFND	2	19,387,624	0	0
ROYAL DUTCH SHELL PLC	SPONSORED ADR B	780259107	11,429	248,250	SH		DFND	1	248,250	0	0
SBA COMMUNICATIONS CORP	COM	78388J106	199,882	1,902,372	SH		DFND	1	1,604,572	0	297,800
SCHLUMBERGER LTD	COM	806857108	89	1,290	SH		DFND	1	1,290	0	0
SCORPIO TANKERS INC	SHS	Y7542C106	457	57,050	SH		DFND	1	57,050	0	0
SEMGROUP CORP	CL A	81663A105	56,861	1,970,250	SH		DFND	1	1,559,190	0	411,060
SEMPRA ENERGY	COM	816851109	68,120	724,605	SH		DFND	1	638,105	0	86,500
SERVICE CORP INTERNATIONAL	COMMON	817565104	7,156	275,000	SH		DFND	3	275,000	0	0
SILVER STD RES INC	COM	82823L106	4,909	948,076	SH		DFND	1	0	0	948,076
SIMON PPTY GROUP INC NEW	COM	828806109	430,189	2,212,454	SH		DFND	1	1,807,964	0	404,490
SL GREEN RLTY CORP	COM	78440X101	274,686	2,431,284	SH		DFND	1	1,942,384	0	488,900
SM ENERGY CO	COM	78454L100	2,809	142,919	SH		DFND	1	142,919	0	0
SOUTHERN COPPER CORP	COM	84265V105	244	9,373	SH		DFND	1	9,373	0	0
SOUTHWEST GAS CORP	COM	844895102	21,513	390,023	SH		DFND	1	318,963	0	71,060
SPDR S&P 500 ETF TR	TR UNIT	78462F103	21,917	107,500	SH	Put	DFND	3	107,500	0	0
SPECTRA ENERGY CORP	COM	847560109	17,445	728,737	SH		DFND	1	728,737	0	0
STILLWATER MNG CO	COM	86074Q102	178	20,844	SH		DFND	1	20,844	0	0
SUMMIT MIDSTREAM PARTNERS LP	COM UNIT LTD	866142102	3,893	207,900	SH		DFND	1	207,900	0	0
SUNOCO LOGISTICS PRTNRS L P	COM UNITS	86764L108	44,891	1,746,750	SH		DFND	1	1,411,250	0	335,500
SUNSTONE HOTEL INVES INC NEW	COM	867892101	56,823	4,549,501	SH		DFND	1	3,681,701	0	867,800
SYNGENTA AG	SPONSORED ADR	87160A100	1,513	19,224	SH		DFND	1	19,224	0	0
TARGA RES CORP	COM	87612G101	21,415	791,400	SH		DFND	1	643,100	0	148,300
TARGA RESOURCES PARTNERS LP	COM UNIT	87611X105	10,438	631,481	SH		DFND	1	631,481	0	0
TESORO LOGISTICS LP	COM UNIT LP	88160T107	236	4,700	SH		DFND	1	4,700	0	0
TOLL BROTHERS INC	COM	889478103	19,010	570,880	SH		DFND	1	398,000	0	172,880
TRANSALTA CORPORATION	COMMON SHARES	89346D107	46,671	13,222,864	SH		DFND	4	13,222,864	0	0
TRANSCANADA CORP	COM	89353D107	47,915	1,466,200	SH		DFND	1	1,231,200	0	235,000
TRI POINTE GROUP INC	COM	87265H109	23,471	1,852,500	SH		DFND	1	1,469,100	0	383,400
TRINITY INDS INC	COMMON	896522109	7,807	325,000	SH		DFND	3	325,000	0	0
TRINITY INDS INC	COMMON	896522109	2,402	100,000	SH	Call	DFND	3	100,000	0	0
TRINITY INDS INC	COMMON	896522109	19,216	800,000	SH		DFND	5	800,000	0	0
UNION PAC CORP	COM	907818108	141,025	1,803,400	SH		DFND	1	1,513,500	0	289,900
UNITED CONTL HLDGS INC	COM	910047109	413	7,209	SH		DFND	1	7,209	0	0
VALE S A	ADR	91912E105	106	32,330	SH		DFND	1	32,330	0	0
VALEANT PHARMACEUTICALS INTL	COM	91911K102	23,135	227,605	SH		DFND	1	0	0	227,605
VENTAS INC	COM	92276F100	205,832	3,647,579	SH		DFND	1	2,950,779	0	696,800
VEREIT INC	COMMON	92339V100	3,960	500,000	SH		DFND	3	500,000	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	346	7,500	SH		DFND	1	7,500	0	0
VERMILION ENERGY INC	COM	923725105	3,134	115,250	SH		DFND	1	115,250	0	0
VORNADO RLTY TR	SH BEN INT	929042109	189,409	1,894,851	SH		DFND	1	1,426,371	0	468,480
VULCAN MATLS CO	COM	929160109	49	523	SH		DFND	1	523	0	0
WABCO HLDNGS INC	COM	92927K102	807	7,900	SH		DFND	1	7,900	0	0
WCI CMNTYS INC	COM PAR $0.01	92923C807	15,611	700,700	SH		DFND	1	588,500	0	112,200
WEATHERFORD INTL PLC	ORD SHS	G48833100	155	18,500	SH		DFND	1	18,500	0	0
WELLTOWER INC	COM	95040Q104	217,000	3,189,777	SH		DFND	1	2,564,477	0	625,300
WESTPORT INNOVATIONS INC	COM NEW	960908309	3,424	1,703,261	SH		DFND	1	0	0	1,703,261
WESTROCK CO	COM	96145D105	169	3,725	SH		DFND	1	3,725	0	0
WEYERHAEUSER CO	COM	962166104	13,618	454,258	SH		DFND	1	314,648	0	139,610
WILLIAMS COS INC DEL	COM	969457100	128,543	5,001,688	SH		DFND	1	4,151,988	0	849,700
WILLIAMS PARTNERS L P NEW	COM UNIT LTD PAR	96949L105	50,009	1,795,685	SH		DFND	1	1,491,743	0	303,942
WP GLIMCHER IN	COM	92939N102	62,343	5,875,908	SH		DFND	1	4,617,244	0	1,258,664
XCEL ENERGY INC	COM	98389B100	1,113	31,000	SH		DFND	1	31,000	0	0