Cbre Clarion Securities 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

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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
Access Midstream Partners LP	COM	00434L109	970	20,076	SH		SOLE		20,076	0	0
Ameren Corp.	COM	023608102	289	8,300	SH		SOLE		8,300	0	0
American Homes 4 Rent	COM	02665T306	29,784	1,844,200	SH		SOLE		955,600	0	888,600
American Realty Capital Proper	COM	02917T104	10,752	881,300	SH		SOLE		166,100	0	715,200
American Residential Propertie	COM	02927E303	27,986	1,589,222	SH		SOLE		1,287,522	0	301,700
American Tower Corp.	COM	03027X100	3,323	44,820	SH		SOLE		44,820	0	0
American Water Works Co.	COM	030420103	604	14,620	SH		SOLE		14,620	0	0
Apartment Investment and Manag	COM	03748R101	6,901	247,000	SH		SOLE		82,000	0	165,000
AvalonBay Communities Inc.	COM	053484101	346,072	2,723,048	SH		SOLE		1,228,236	0	1,494,812
Aviv REIT Inc	COM	05381L101	1,345	59,000	SH		SOLE		59,000	0	0
Biomed Realty Trust Inc.	COM	09063H107	143,925	7,742,061	SH		SOLE		3,266,111	0	4,475,950
Boston Properties Inc.	COM	101121101	462,096	4,322,690	SH		SOLE		1,838,047	0	2,484,643
Brandywine Realty Trust SBI	COM	105368203	169,526	12,862,398	SH		SOLE		8,370,413	0	4,491,985
BRE Properties Inc.	COM	05564E106	269,993	5,319,010	SH		SOLE		1,851,394	0	3,467,616
Camden Property Trust	COM	133131102	66,146	1,076,597	SH		SOLE		1,047,397	0	29,200
CBL and Associates Properties	COM	124830100	27,493	1,439,419	SH		SOLE		1,336,519	0	102,900
CMS Energy Corporation	COM	125896100	583	22,140	SH		SOLE		22,140	0	0
Cole Real Estate Investments,	COM	19329V105	31,487	2,568,300	SH		SOLE		461,400	0	2,106,900
Commonwealth REIT	COM	203233101	47,976	2,189,702	SH		SOLE		784,800	0	1,404,902
Cousins Properties Inc.	COM	222795106	34,272	3,330,620	SH		SOLE		1,770,880	0	1,559,740
CSX Corporation	COM	126408103	1,991	77,340	SH		SOLE		77,340	0	0
CubeSmart	COM	229663109	22,858	1,281,278	SH		SOLE		329,000	0	952,278
DCT Industrial Trust	COM	233153105	31,115	4,327,480	SH		SOLE		2,612,840	0	1,714,640
DDR Corp.	COM	23317H102	192,196	12,233,991	SH		SOLE		5,374,931	0	6,859,060
Digital Realty Trust Inc.	COM	253868103	16,571	312,073	SH		SOLE		80,316	0	231,757
Dominion Resources Inc. (Virgi	COM	25746U109	1,107	17,710	SH		SOLE		17,710	0	0
Douglas Emmett Inc.	COM	25960P109	232,071	9,887,968	SH		SOLE		5,263,368	0	4,624,600
Duke Realty Corporation	COM	264411505	229,619	14,871,708	SH		SOLE		6,235,708	0	8,636,000
Energy Transfer Partners L.P.	COM	29273R109	204	3,918	SH		SOLE		3,918	0	0
Enterprise Products Partners L	COM	293792107	1,765	28,923	SH		SOLE		28,923	0	0
EPR Properties	COM	26884U109	22,986	471,600	SH		SOLE		106,800	0	364,800
Equity Residential	COM	29476L107	443,756	8,283,671	SH		SOLE		3,371,602	0	4,912,069
Essex Property Trust Inc.	COM	297178105	97,532	660,340	SH		SOLE		213,510	0	446,830
Federal Realty Investment Trus	COM	313747206	34,646	341,509	SH		SOLE		125,338	0	216,171
Forest City Cl. A	COM	345550107	2,246	118,600	SH		SOLE		64,800	0	53,800
General Growth Properties	COM	370023103	416,255	21,578,791	SH		SOLE		9,961,371	0	11,617,420
Genesee & Wyoming Inc	COM	371559105	985	10,600	SH		SOLE		10,600	0	0
HCP Inc.	COM	40414L109	247,767	6,050,479	SH		SOLE		2,266,879	0	3,783,600
Health Care REIT Inc.	COM	42217K106	440,725	7,065,163	SH		SOLE		3,108,012	0	3,957,151
HealthCare Realty Trust	COM	421946104	113,113	4,894,544	SH		SOLE		2,344,322	0	2,550,222
Healthcare Trust of America In	COM	42225P105	49,373	4,693,240	SH		SOLE		2,096,800	0	2,596,440
Highwoods Properties Inc.	COM	431284108	234,055	6,628,573	SH		SOLE		2,803,246	0	3,825,327
Home Properties Inc.	COM	437306103	266	4,600	SH		SOLE		4,600	0	0
Hospitality Properties Trust	COM	44106M102	29,233	1,032,983	SH		SOLE		215,483	0	817,500
Host Hotels & Resorts Inc.	COM	44107P104	636,941	36,046,476	SH		SOLE		17,095,646	0	18,950,830
ITC Holdings Corp.	COM	465685105	436	4,645	SH		SOLE		4,645	0	0
Kilroy Realty Corp.	COM	49427F108	315,986	6,326,037	SH		SOLE		3,191,637	0	3,134,400
Kimco Realty Corp.	COM	49446R109	264,143	13,089,325	SH		SOLE		5,196,455	0	7,892,870
Kinder Morgan Energy Partners	COM	494550106	222	2,781	SH		SOLE		2,781	0	0
LaSalle Hotels and Properties	COM	517942108	4,589	160,900	SH		SOLE		160,900	0	0
Lexington Corporate Properties	COM	529043101	95,396	8,494,760	SH		SOLE		3,944,760	0	4,550,000
Liberty Property Trust	COM	531172104	501,003	14,073,121	SH		SOLE		7,406,241	0	6,666,880
LTC Properties Inc.	COM	502175102	258	6,800	SH		SOLE		6,800	0	0
Macerich Co.	COM	554382101	490,820	8,696,320	SH		SOLE		4,301,141	0	4,395,179
Mack-Cali Realty Corp.	COM	554489104	4,876	222,227	SH		SOLE		215,727	0	6,500
Magellan Midstream Partners L.	COM	559080106	722	12,787	SH		SOLE		12,787	0	0
MarkWest Energy Partners, L.P.	COM	570759100	672	9,299	SH		SOLE		9,299	0	0
National Retail Properties Onc	COM	637417106	538	16,900	SH		SOLE		16,900	0	0
Nextera Energy Inc	COM	65339F101	920	11,480	SH		SOLE		11,480	0	0
NiSource Inc.	COM	65473P105	593	19,210	SH		SOLE		19,210	0	0
Northeast Utilities	COM	664397106	716	17,360	SH		SOLE		17,360	0	0
Omega Healthcare Investors	COM	681936100	56,803	1,901,670	SH		SOLE		1,901,670	0	0
ONEOK Inc.	COM	682680103	781	14,648	SH		SOLE		14,648	0	0
Pebblebrook Hotel Trust	COM	70509V100	71,657	2,495,881	SH		SOLE		1,035,000	0	1,460,881
Plains All American Pipeline,	COM	726503105	1,279	24,286	SH		SOLE		24,286	0	0
Post Properties Inc.	COM	737464107	186,673	4,146,438	SH		SOLE		1,867,593	0	2,278,845
ProLogis Inc.	COM	74340W103	542,667	14,424,955	SH		SOLE		6,884,050	0	7,540,905
Public Storage	COM	74460D109	328,074	2,043,440	SH		SOLE		826,570	0	1,216,870
Ramco Gershenson Properties Tr	COM	751452202	38,091	2,471,838	SH		SOLE		881,100	0	1,590,738
Realty Income Corp	COM	756109104	19,680	495,097	SH		SOLE		98,197	0	396,900
Regency Centers Corporation	COM	758849103	38,978	806,161	SH		SOLE		257,425	0	548,736
Retail Properties of America,	COM	76131V202	15,405	1,120,346	SH		SOLE		1,120,346	0	0
SBA Communications Corp.	COM	78388J106	1,727	21,470	SH		SOLE		21,470	0	0
Senior Housing Properties Trus	COM	81721M109	153,506	6,576,937	SH		SOLE		2,957,237	0	3,619,700
Simon Property Group Inc.	COM	828806109	872,540	5,886,394	SH		SOLE		2,292,115	0	3,594,279
SL Green Realty Corp.	COM	78440X101	419,073	4,717,166	SH		SOLE		2,335,624	0	2,381,542
Spectra Energy Corp.	COM	847560109	725	21,189	SH		SOLE		21,189	0	0
Spirit Realty Capital Inc.	COM	84860W102	16,356	1,781,678	SH		SOLE		1,781,678	0	0
Starwood Hotels and Resorts Wo	COM	85590A401	141,176	2,124,550	SH		SOLE		1,232,370	0	892,180
Strategic Hotels & Resorts, In	COM	86272T106	100,665	11,597,370	SH		SOLE		5,567,340	0	6,030,030
Sun Communities Inc.	COM	866674104	36,364	853,207	SH		SOLE		473,111	0	380,096
Sunstone Hotel Investors Inc.	COM	867892101	104,081	8,169,610	SH		SOLE		3,849,230	0	4,320,380
Tanger Factory Outlet Centers	COM	875465106	67,446	2,065,726	SH		SOLE		931,122	0	1,134,604
Taubman Centers Inc.	COM	876664103	169,834	2,523,159	SH		SOLE		878,236	0	1,644,923
UDR Inc.	COM	902653104	408,577	17,239,535	SH		SOLE		7,437,600	0	9,801,935
Union Pacific Corp	COM	907818108	1,853	11,930	SH		SOLE		11,930	0	0
Ventas Inc.	COM	92276F100	297,622	4,839,376	SH		SOLE		1,551,950	0	3,287,426
Vornado Realty Trust	COM	929042109	413,038	4,913,604	SH		SOLE		2,114,019	0	2,799,585
Washington REIT	COM	939653101	2,325	92,000	SH		SOLE		92,000	0	0
Western Gas Partners LP	COM	958254104	1,102	18,326	SH		SOLE		18,326	0	0
Weyerhaeuser Co.	COM	962166104	96,414	3,367,600	SH		SOLE		1,400,000	0	1,967,600
William Lyon Homes	COM	552074700	4,326	212,900	SH		SOLE		212,900	0	0
Ramco-Gershenson Pptys Tr 7.25	PERP PFD-D CV	751452608	677	11,500	SH		SOLE		11,500	0	0
Sunstone Hotels 8.00% Series D	CV 8% CUM PFD-D	867892507	2,023	80,100	SH		SOLE		80,100	0	0
Taubman Centers 6.25% Series K	PFD SER K	876664707	1,635	73,100	SH		SOLE		73,100	0	0