Spirit Of America Management 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
AMERICAN CAPITAL	STOCK	02503X105	672	31,600	SH		SOLE		0	0	0
ANNALY CAPITAL M	STOCK	035710409	417	39,000	SH		SOLE		0	0	0
APARTMENT INVEST	STOCK	03748R101	3,901	122,600	SH		SOLE		0	0	0
ARLINGTON ASSET INVEST	STOCK	041356205	3,684	145,000	SH		SOLE		0	0	0
ASHFORD HOSPITAL	STOCK	044103109	1,201	117,500	SH		SOLE		0	0	0
APL 8 1/4 12/31/49	STOCK	049392301	154	6,000	SH		SOLE		0	0	0
ATLAS RESOURCE PTNR LP	STOCK	04941A101	2,686	138,017	SH		SOLE		0	0	0
AVALONBAY COMMUN	STOCK	053484101	4,229	30,000	SH		SOLE		0	0	0
BIOMED REALTY TRUST INC	STOCK	09063H107	2,424	120,000	SH		SOLE		0	0	0
BOSTON PROPERTIE	STOCK	101121101	2,778	24,000	SH		SOLE		0	0	0
BRIXMOR PROPERTY GROUP	STOCK	11120U105	223	10,000	SH		SOLE		0	0	0
CBL & ASSOC PROP	STOCK	124830100	627	35,000	SH		SOLE		0	0	0
CALUMET SPECIALTY PRODUCT	STOCK	131476103	4,803	174,972	SH		SOLE		0	0	0
CAMDEN PROP TR	STOCK	133131102	2,741	40,000	SH		SOLE		0	0	0
CHESAPEAKE LODGING TRUST	STOCK	165240102	292	10,000	SH		SOLE		0	0	0
CHESAPEAKE LODGING TRUST	STOCK	165240201	261	10,000	SH		SOLE		0	0	0
CITY OFFICE REIT, INC.	STOCK	178587101	1,006	74,080	SH		SOLE		0	0	0
CUBESMART	STOCK	229663109	360	20,000	SH		SOLE		0	0	0
CYRUSONE, INC.	STOCK	23283R100	669	27,837	SH		SOLE		0	0	0
DCP MIDSTREAM PA	STOCK	23311P100	1,805	33,155	SH		SOLE		0	0	0
DDR CORP	STOCK	23317H102	1,255	75,000	SH		SOLE		0	0	0
DIAMONDROCK HOSP	STOCK	252784301	3,266	257,600	SH		SOLE		0	0	0
DIGITAL REALTY	STOCK	253868103	6,004	96,250	SH		SOLE		0	0	0
DLR 7 3/8 12/31/49	STOCK	253868871	916	35,161	SH		SOLE		0	0	0
DUPONT FABROS TE	STOCK	26613Q106	4,778	176,700	SH		SOLE		0	0	0
DUPONT FABROS TECHNOLOGY	STOCK	26613Q304	200	7,800	SH		SOLE		0	0	0
ENBRIDGE ENERGY MNGT	STOCK	29250X103	0	1	SH		SOLE		0	0	0
ENTERPRISE PRODUCTS	STOCK	293792107	7,686	190,726	SH		SOLE		0	0	0
EQUITY LIFESTYLE	STOCK	29472R108	638	15,050	SH		SOLE		0	0	0
EQUITY RESIDENTI	STOCK	29476L107	3,621	58,800	SH		SOLE		0	0	0
ESSEX PROPERTY	STOCK	297178105	3,212	17,971	SH		SOLE		0	0	0
EXTRA SPACE STOR	STOCK	30225T102	1,289	25,000	SH		SOLE		0	0	0
FED REALTY INVS	STOCK	313747206	4,738	40,000	SH		SOLE		0	0	0
FELCOR LODGING	STOCK	31430F101	1,663	177,700	SH		SOLE		0	0	0
FELCOR LODGING TRUST INC	STOCK	31430F507	724	28,500	SH		SOLE		0	0	0
FIRST IND REALTY	STOCK	32054K103	507	30,000	SH		SOLE		0	0	0
FIRST POTOMAC RE	STOCK	33610F109	284	24,168	SH		SOLE		0	0	0
GENERAL GROWTH P	STOCK	370023103	942	40,000	SH		SOLE		0	0	0
GRAMERCY PROPERTY TRUST	STOCK	38489R100	1,642	285,000	SH		SOLE		0	0	0
HCP INC	STOCK	40414L109	1,986	50,000	SH		SOLE		0	0	0
HANNON ARMSTRONG	STOCK	41068X100	660	47,791	SH		SOLE		0	0	0
HATTERAS FINANCI	STOCK	41902R103	1,257	70,000	SH		SOLE		0	0	0
HEALTH CARE REIT	STOCK	42217K106	2,139	34,300	SH		SOLE		0	0	0
HUDSON PACIFIC PROP	STOCK	444097109	1,699	68,900	SH		SOLE		0	0	0
INDEPENDENCE REALTY TRUST	STOCK	45378A106	761	78,655	SH		SOLE		0	0	0
KILROY REALTY	STOCK	49427F108	4,755	80,000	SH		SOLE		0	0	0
KIMCO REALTY	STOCK	49446R109	1,627	74,250	SH		SOLE		0	0	0
LASALLE HOTEL PROPERTIES	STOCK	517942108	476	13,900	SH		SOLE		0	0	0
LEXINGTON REALTY	STOCK	529043101	1,589	162,265	SH		SOLE		0	0	0
MACERICH CO	STOCK	554382101	2,528	39,600	SH		SOLE		0	0	0
MARLIN MIDSTREAM PTNRS LP	STOCK	57118V100	2,332	109,362	SH		SOLE		0	0	0
NORTHSTAR ASSET MGMT	STOCK	66705Y104	884	48,000	SH		SOLE		0	0	0
PEBBLEBROOK HOTEL TRUST	STOCK	70509V100	1,434	38,414	SH		SOLE		0	0	0
PROLOGIS INC	STOCK	74340W103	3,959	105,000	SH		SOLE		0	0	0
RLJ LODGING TRUST	STOCK	74965L101	1,281	45,000	SH		SOLE		0	0	0
REGENCY CENTERS	STOCK	758849103	1,077	20,000	SH		SOLE		0	0	0
RYMAN HOSPITALITY PROP	STOCK	78377T107	946	20,000	SH		SOLE		0	0	0
SL GREEN REALTY	STOCK	78440X101	4,053	40,000	SH		SOLE		0	0	0
SIMON PROPERTY	STOCK	828806109	8,484	51,600	SH		SOLE		0	0	0
SOVRAN SELF STORAGE INC	STOCK	84610H108	2,208	29,700	SH		SOLE		0	0	0
SPIRIT REALTY CAPITAL INC	STOCK	84860W102	1,097	100,000	SH		SOLE		0	0	0
STRATEGIC HOTELS	STOCK	86272T106	1,165	100,000	SH		SOLE		0	0	0
SUN COMMUNITIES INC	STOCK	866674104	1,263	25,000	SH		SOLE		0	0	0
SUNSTONE HOTEL INVESTORS	STOCK	867892507	547	20,488	SH		SOLE		0	0	0
TANGER FACTORY	STOCK	875465106	654	20,000	SH		SOLE		0	0	0
TARGA RESOURCES PARTNERS	STOCK	87611X105	6,211	85,844	SH		SOLE		0	0	0
TAUBMAN CENTERS	STOCK	876664103	730	10,000	SH		SOLE		0	0	0
TRADE STREET RESIDENTIAL	STOCK	89255N203	210	29,439	SH		SOLE		0	0	0
UDR INC	STOCK	902653104	773	28,364	SH		SOLE		0	0	0
VNR 7 5/8 12/31/49	STOCK	92205F304	646	26,100	SH		SOLE		0	0	0
VENTAS INC	STOCK	92276F100	2,332	37,650	SH		SOLE		0	0	0
VORNADO RLTY TST	STOCK	929042109	1,000	10,000	SH		SOLE		0	0	0
WP CAREY INC	STOCK	92936U109	1,913	30,000	SH		SOLE		0	0	0
WEINGARTEN RLTY	STOCK	948741103	788	25,000	SH		SOLE		0	0	0
WESTERN GAS PARTNERS LP	STOCK	958254104	3,385	45,131	SH		SOLE		0	0	0
WILLIAMS PARTNER	STOCK	96950F104	5,096	96,061	SH		SOLE		0	0	0
AT&T INC	STOCK	00206R102	893	25,350	SH		SOLE		0	0	0
ABBVIE INC	STOCK	00287Y109	422	7,300	SH		SOLE		0	0	0
ADOBE SYS INC	STOCK	00724F101	291	4,200	SH		SOLE		0	0	0
AEGON NV	STOCK	007924301	382	15,000	SH		SOLE		0	0	0
AEGON NV	STOCK	007924608	553	19,400	SH		SOLE		0	0	0
AETNA INC	STOCK	00817Y108	122	1,500	SH		SOLE		0	0	0
ALTRIA GROUP INC	STOCK	02209S103	1,181	25,700	SH		SOLE		0	0	0
AMERICAN CAPITAL	STOCK	02503X105	672	31,600	SH		SOLE		0	0	0
AGNC 7 3/4 12/31/49	STOCK	02503X303	73	3,000	SH		SOLE		0	0	0
AMERICAN EXPRESS	STOCK	025816109	875	10,000	SH		SOLE		0	0	0
AMERICAN FINANCIAL GROUP	STOCK	025932401	129	5,000	SH		SOLE		0	0	0
AMGEN INC	STOCK	031162100	225	1,600	SH		SOLE		0	0	0
ANNALY CAPITAL M	STOCK	035710409	417	39,000	SH		SOLE		0	0	0
APACHE CORP	STOCK	037411105	282	3,000	SH		SOLE		0	0	0
APARTMENT INVEST	STOCK	03748R101	3,901	122,600	SH		SOLE		0	0	0
APPLE INC	STOCK	037833100	2,539	25,200	SH		SOLE		0	0	0
APPLIED MATERIAL	STOCK	038222105	233	10,800	SH		SOLE		0	0	0
APL 8 1/4 12/31/49	STOCK	049392301	154	6,000	SH		SOLE		0	0	0
BGC PARTNERS INC	STOCK	05541T408	134	5,000	SH		SOLE		0	0	0
BALL CORP	STOCK	058498106	196	3,100	SH		SOLE		0	0	0
BANK OF AMERICA	STOCK	060505104	735	43,100	SH		SOLE		0	0	0
BAC 6 5/8 12/31/49	STOCK	060505344	50	2,000	SH		SOLE		0	0	0
BLACKSTONE GROUP	STOCK	09253U108	157	5,000	SH		SOLE		0	0	0
BOEING CO	STOCK	097023105	790	6,200	SH		SOLE		0	0	0
BBEP 8 1/4 12/31/49	STOCK	106776115	101	4,000	SH		SOLE		0	0	0
CENHAR 6 3/4 12/31/49	STOCK	12542R704	51	2,000	SH		SOLE		0	0	0
CSX CORP	STOCK	126408103	1,371	42,750	SH		SOLE		0	0	0
CPE 10 12/31/49 PFD	STOCK	13123X409	268	5,000	SH		SOLE		0	0	0
CAPITAL ONE FINA	STOCK	14040H105	204	2,500	SH		SOLE		0	0	0
CATERPILLAR INC	STOCK	149123101	297	3,000	SH		SOLE		0	0	0
CELGENE CORP	STOCK	151020104	284	3,000	SH		SOLE		0	0	0
CENTURYLINK INC	STOCK	156700106	74	1,800	SH		SOLE		0	0	0
CHEVRON CORP	STOCK	166764100	477	4,000	SH		SOLE		0	0	0
CISCO SYSTEMS	STOCK	17275R102	466	18,500	SH		SOLE		0	0	0
C 6 7/8 12/31/49	STOCK	172967333	76	3,000	SH		SOLE		0	0	0
CITIGROUP INC	STOCK	172967424	751	14,500	SH		SOLE		0	0	0
COMCAST CORP-A	STOCK	20030N101	667	12,400	SH		SOLE		0	0	0
CONOCOPHILLIPS	STOCK	20825C104	1,155	15,100	SH		SOLE		0	0	0
CORNING INC	STOCK	219350105	416	21,500	SH		SOLE		0	0	0
DEVON ENERGY CO	STOCK	25179M103	348	5,100	SH		SOLE		0	0	0
DIAMONDROCK HOSP	STOCK	252784301	3,266	257,600	SH		SOLE		0	0	0
DIGITAL REALTY	STOCK	253868103	6,004	96,250	SH		SOLE		0	0	0
DLR 7 3/8 12/31/49	STOCK	253868871	916	35,161	SH		SOLE		0	0	0
WALT DISNEY CO	STOCK	254687106	1,959	22,000	SH		SOLE		0	0	0
DOVER CORP	STOCK	260003108	177	2,200	SH		SOLE		0	0	0
DOW CHEMICAL	STOCK	260543103	454	8,650	SH		SOLE		0	0	0
DU PONT (EI)	STOCK	263534109	969	13,500	SH		SOLE		0	0	0
EOG RESOURCES	STOCK	26875P101	465	4,700	SH		SOLE		0	0	0
ENTERGY CORP	STOCK	29364G103	294	3,800	SH		SOLE		0	0	0
ENTERPRISE PRODUCTS	STOCK	293792107	7,686	190,726	SH		SOLE		0	0	0
EXELON CORP	STOCK	30161N101	355	10,400	SH		SOLE		0	0	0
EXXON MOBIL CORP	STOCK	30231G102	1,204	12,800	SH		SOLE		0	0	0
FORD MOTOR CO	STOCK	345370860	670	45,300	SH		SOLE		0	0	0
FREEPORT-MCMORAN	STOCK	35671D857	196	6,000	SH		SOLE		0	0	0
GENERAL ELECTRIC	STOCK	369604103	1,099	42,881	SH		SOLE		0	0	0
GILEAD SCIENCES	STOCK	375558103	766	7,200	SH		SOLE		0	0	0
GOLDMAN SACHS GP	STOCK	38141G104	847	4,615	SH		SOLE		0	0	0
GOODYEAR TIRE	STOCK	382550101	181	8,000	SH		SOLE		0	0	0
HCA HOLDINGS INC	STOCK	40412C101	317	4,500	SH		SOLE		0	0	0
HALLIBURTON CO	STOCK	406216101	458	7,100	SH		SOLE		0	0	0
HARTFORD FINL SV	STOCK	416515104	522	14,000	SH		SOLE		0	0	0
HELMERICH & PAYN	STOCK	423452101	254	2,600	SH		SOLE		0	0	0
HERSHEY CO/THE	STOCK	427866108	367	3,850	SH		SOLE		0	0	0
HEWLETT-PACKARD	STOCK	428236103	390	11,000	SH		SOLE		0	0	0
HOME DEPOT INC	STOCK	437076102	1,633	17,800	SH		SOLE		0	0	0
HONEYWELL INTL	STOCK	438516106	391	4,200	SH		SOLE		0	0	0
IMS HEALTH HOLDINGS, INC.	STOCK	44970B109	411	15,700	SH		SOLE		0	0	0
INTEL CORP	STOCK	458140100	919	26,400	SH		SOLE		0	0	0
IBM	STOCK	459200101	543	2,858	SH		SOLE		0	0	0
JPMORGAN CHASE	STOCK	46625H100	1,218	20,227	SH		SOLE		0	0	0
JOHNSON&JOHNSON	STOCK	478160104	1,067	10,010	SH		SOLE		0	0	0
JOHNSON CONTROLS	STOCK	478366107	629	14,300	SH		SOLE		0	0	0
JPM 6.27 12/31/49	STOCK	48127A161	307	12,000	SH		SOLE		0	0	0
KKR FINANCIAL HOLDINGS	STOCK	48248A603	77	3,000	SH		SOLE		0	0	0
KIMBERLY-CLARK	STOCK	494368103	344	3,200	SH		SOLE		0	0	0
KINDER MORGAN IN	STOCK	49456B101	433	11,295	SH		SOLE		0	0	0
KRAFT FOODS GROUP INC	STOCK	50076Q106	310	5,499	SH		SOLE		0	0	0
LTS 8 12/31/49 PFD	STOCK	50575Q201	170	7,000	SH		SOLE		0	0	0
MARATHON OIL	STOCK	565849106	188	5,000	SH		SOLE		0	0	0
MASCO CORP	STOCK	574599106	120	5,000	SH		SOLE		0	0	0
MCDONALDS CORP	STOCK	580135101	681	7,180	SH		SOLE		0	0	0
MCKESSON CORP	STOCK	58155Q103	1,168	6,000	SH		SOLE		0	0	0
MERCK & CO	STOCK	58933Y105	919	15,500	SH		SOLE		0	0	0
METLIFE INC	STOCK	59156R108	584	10,875	SH		SOLE		0	0	0
MICROSOFT CORP	STOCK	594918104	1,694	36,550	SH		SOLE		0	0	0
MICRON TECH	STOCK	595112103	212	6,200	SH		SOLE		0	0	0
MILLER ENERGY 10.75%	STOCK	600527204	127	5,000	SH		SOLE		0	0	0
MILL 10 1/2 12/31/49	STOCK	600527303	297	12,000	SH		SOLE		0	0	0
MYLAN INC	STOCK	628530107	373	8,200	SH		SOLE		0	0	0
NAVIOS MARITIME HOLDINGS	STOCK	63938Y308	49	2,000	SH		SOLE		0	0	0
NETAPP INC	STOCK	64110D104	129	3,000	SH		SOLE		0	0	0
NEXTERA ENERGY	STOCK	65339F101	479	5,100	SH		SOLE		0	0	0
NORFOLK SOUTHERN	STOCK	655844108	112	1,000	SH		SOLE		0	0	0
NUCOR CORP	STOCK	670346105	109	2,000	SH		SOLE		0	0	0
ORACLE CORP	STOCK	68389X105	1,179	30,800	SH		SOLE		0	0	0
OXLC 8 1/8 06/30/24	STOCK	691543409	50	2,000	SH		SOLE		0	0	0
PACKAGING CORP OF AMER	STOCK	695156109	599	9,380	SH		SOLE		0	0	0
PAYCHEX INC	STOCK	704326107	194	4,400	SH		SOLE		0	0	0
PEPSICO INC	STOCK	713448108	1,233	13,250	SH		SOLE		0	0	0
PPHM 10 1/2 12/31/49	STOCK	713661403	59	2,500	SH		SOLE		0	0	0
PFIZER INC	STOCK	717081103	591	20,000	SH		SOLE		0	0	0
PHILIP MORRIS	STOCK	718172109	784	9,400	SH		SOLE		0	0	0
PITNEY BOWES INC	STOCK	724479100	100	4,000	SH		SOLE		0	0	0
PROCTER & GAMBLE	STOCK	742718109	829	9,900	SH		SOLE		0	0	0
PROLOGIS INC	STOCK	74340W103	3,959	105,000	SH		SOLE		0	0	0
PRUDENTL FINL	STOCK	744320102	528	6,000	SH		SOLE		0	0	0
QUALCOMM INC	STOCK	747525103	815	10,900	SH		SOLE		0	0	0
CTL 6 7/8 10/1/54	STOCK	74913G105	292	12,000	SH		SOLE		0	0	0
QWEST CORP	STOCK	74913G501	126	5,000	SH		SOLE		0	0	0
RITE AID CORP	STOCK	767754104	133	27,500	SH		SOLE		0	0	0
SCHLUMBERGER LTD	STOCK	806857108	1,279	12,575	SH		SOLE		0	0	0
SIMON PROPERTY	STOCK	828806109	8,484	51,600	SH		SOLE		0	0	0
SPECTRA ENERGY	STOCK	84756N109	1,445	27,275	SH		SOLE		0	0	0
SYMANTEC CORP	STOCK	871503108	496	21,100	SH		SOLE		0	0	0
SYNCHRONY FINANCIAL	STOCK	87165B103	25	1,000	SH		SOLE		0	0	0
TARGA RESOURCES PARTNERS	STOCK	87611X105	6,211	85,844	SH		SOLE		0	0	0
TELEPHONE & DATA SYSTEM	STOCK	879433837	100	4,000	SH		SOLE		0	0	0
TEREX CORP	STOCK	880779103	95	3,000	SH		SOLE		0	0	0
TESORO CORP	STOCK	881609101	122	2,000	SH		SOLE		0	0	0
TEXAS INSTRUMENT	STOCK	882508104	712	14,925	SH		SOLE		0	0	0
THERMO FISHER	STOCK	883556102	329	2,700	SH		SOLE		0	0	0
3M CO	STOCK	88579Y101	1,084	7,650	SH		SOLE		0	0	0
TIME INC	STOCK	887228104	36	1,525	SH		SOLE		0	0	0
TIME WARNER INC	STOCK	887317303	918	12,200	SH		SOLE		0	0	0
TRAVELERS COS IN	STOCK	89417E109	423	4,500	SH		SOLE		0	0	0
US BANCORP	STOCK	902973304	406	9,700	SH		SOLE		0	0	0
UNITED PARCEL-B	STOCK	911312106	460	4,676	SH		SOLE		0	0	0
US CELLULAR CORP	STOCK	911684405	506	19,992	SH		SOLE		0	0	0
UNITED TECH CORP	STOCK	913017109	454	4,300	SH		SOLE		0	0	0
UNITEDHEALTH GRP	STOCK	91324P102	1,363	15,800	SH		SOLE		0	0	0
VALERO ENERGY	STOCK	91913Y100	403	8,700	SH		SOLE		0	0	0
VNR 7 5/8 12/31/49	STOCK	92205F304	646	26,100	SH		SOLE		0	0	0
VNR 7 3/4 12/31/49	STOCK	92205F403	50	2,000	SH		SOLE		0	0	0
VERIZON COMMUNIC	STOCK	92343V104	1,022	20,440	SH		SOLE		0	0	0
VISA INC-CLASS A	STOCK	92826C839	715	3,350	SH		SOLE		0	0	0
WAL-MART STORES	STOCK	931142103	392	5,124	SH		SOLE		0	0	0
WALGREEN CO	STOCK	931422109	284	4,800	SH		SOLE		0	0	0
WELLS FARGO & CO	STOCK	949746101	1,540	29,686	SH		SOLE		0	0	0
WESTERN DIGITAL CORP	STOCK	958102105	243	2,500	SH		SOLE		0	0	0
WILLIAMS PARTNER	STOCK	96950F104	5,096	96,061	SH		SOLE		0	0	0
WISCONSIN ENERGY CORP	STOCK	976657106	877	20,400	SH		SOLE		0	0	0
WYNDHAM WORLDWID	STOCK	98310W108	447	5,500	SH		SOLE		0	0	0
XEROX CORP	STOCK	984121103	380	28,700	SH		SOLE		0	0	0
ACTAVIS PLC	STOCK	G0083B108	1,568	6,500	SH		SOLE		0	0	0
COVIDIEN PLC	STOCK	G2554F113	926	10,700	SH		SOLE		0	0	0
TSAKOS ENGY 8 12/31/49	STOCK	G9108L124	50	2,000	SH		SOLE		0	0	0
TYCO INTL LTD	STOCK	H89128104	343	7,700	SH		SOLE		0	0	0
LYONDELLBASELL INDU-CL A	STOCK	N53745100	402	3,700	SH		SOLE		0	0	0
CMRE 8 1/2 12/31/49	STOCK	Y1771G128	78	3,000	SH		SOLE		0	0	0
TEEKAY LNG PARTNERS	STOCK	Y8564M105	1,143	26,236	SH		SOLE		0	0	0
AFLAC INC	STOCK	001055300	266	10,950	SH		SOLE		0	0	0
AEGON NV	STOCK	007924608	553	19,400	SH		SOLE		0	0	0
AMERICAN FINANCIAL GROUP	STOCK	025932500	262	10,800	SH		SOLE		0	0	0
ARLINGTON ASSET INVEST	STOCK	041356205	3,684	145,000	SH		SOLE		0	0	0
ATLAS PIPELINE P	STOCK	049392103	1,979	54,292	SH		SOLE		0	0	0
ATLAS RESOURCE PTNR LP	STOCK	04941A101	2,686	138,017	SH		SOLE		0	0	0
AVIVA PLC	STOCK	05382A203	463	16,490	SH		SOLE		0	0	0
BANK OF NEW YORK MELLON	STOCK	064058209	249	10,800	SH		SOLE		0	0	0
BUCKEYE PARTNERS LP	STOCK	118230101	2,695	33,841	SH		SOLE		0	0	0
CBL & ASSOCIATES PROP	STOCK	124830803	641	26,400	SH		SOLE		0	0	0
CALUMET SPECIALTY PRODUCT	STOCK	131476103	4,803	174,972	SH		SOLE		0	0	0
CITY NATIONAL CORP	STOCK	17800X202	288	13,000	SH		SOLE		0	0	0
DDR 6.25 12/31/49	STOCK	23317H805	311	12,676	SH		SOLE		0	0	0
DIGITAL REALTY TRUST INC	STOCK	253868707	824	32,000	SH		SOLE		0	0	0
DIGITAL REALTY TRUST INC	STOCK	253868806	323	12,800	SH		SOLE		0	0	0
DIGITAL REALTY TRUST PFD	STOCK	253868889	356	16,000	SH		SOLE		0	0	0
DUKE ENERGY CORP	STOCK	26441C303	217	9,030	SH		SOLE		0	0	0
EAGLE ROCK ENERGY PTN	STOCK	26985R104	356	100,000	SH		SOLE		0	0	0
ENBRIDGE ENERGY	STOCK	29250R106	4,531	116,637	SH		SOLE		0	0	0
ENERGY TRANSFER PARTNERS	STOCK	29273R109	5,785	90,409	SH		SOLE		0	0	0
ENLINK MIDSTREAM PTNR	STOCK	29336U107	3,296	108,231	SH		SOLE		0	0	0
ENTERGY NEW ORLEANS INC	STOCK	29364P509	476	20,000	SH		SOLE		0	0	0
ENTERGY LOUISIANA LLC	STOCK	29364W504	482	20,000	SH		SOLE		0	0	0
EQC 7 1/2 11/15/19	STOCK	294628300	1,508	74,047	SH		SOLE		0	0	0
EQC 5 3/4 08/01/42	STOCK	294628508	217	10,000	SH		SOLE		0	0	0
HEALTH CARE REIT INC	STOCK	42217K700	829	32,000	SH		SOLE		0	0	0
HUDSON PACIFIC PROPERTIE	STOCK	444097208	567	22,000	SH		SOLE		0	0	0
JPM 5.45	STOCK	46637G124	114	5,030	SH		SOLE		0	0	0
JPM 6.3 12/31/49	STOCK	481246700	349	14,000	SH		SOLE		0	0	0
KKR FINANCIAL HOLDINGS	STOCK	48248A405	840	30,000	SH		SOLE		0	0	0
KKR FINANCIAL HOLDINGS	STOCK	48248A504	267	10,000	SH		SOLE		0	0	0
KRC 6 7/8 12/31/49	STOCK	49427F702	641	24,949	SH		SOLE		0	0	0
KIM 5.625%	STOCK	49446R745	635	27,000	SH		SOLE		0	0	0
KIMCO REALTY CORP	STOCK	49446R778	1,019	44,110	SH		SOLE		0	0	0
KIMCO REALTY CORP	STOCK	49446R794	898	36,000	SH		SOLE		0	0	0
KINDER MORGAN ENERGY	STOCK	494550106	5,592	59,946	SH		SOLE		0	0	0
MARLIN MIDSTREAM PTNRS LP	STOCK	57118V100	2,332	109,362	SH		SOLE		0	0	0
NATL RETAIL PROPERTIES	STOCK	637417601	414	16,000	SH		SOLE		0	0	0
NEXTERA ENERGY CAPITAL	STOCK	65339K704	208	8,775	SH		SOLE		0	0	0
NEE 5%	STOCK	65339K886	144	6,700	SH		SOLE		0	0	0
PNC FINANCIAL SERVICES	STOCK	693475832	120	5,250	SH		SOLE		0	0	0
PS BUSINESS PARKS 5.7	STOCK	69360J644	164	7,200	SH		SOLE		0	0	0
PS BUSINESS PARKS INC	STOCK	69360J685	1,080	44,900	SH		SOLE		0	0	0
PS BUSINESS PARKS INC	STOCK	69360J719	380	15,000	SH		SOLE		0	0	0
PITNEY BOWES INC	STOCK	724479506	200	7,700	SH		SOLE		0	0	0
PROTECTIVE LIFE CORP	STOCK	743674608	324	12,600	SH		SOLE		0	0	0
PUBLIC STORAGE	STOCK	74460D125	925	36,000	SH		SOLE		0	0	0
PUBLIC STORAGE	STOCK	74460D141	420	16,000	SH		SOLE		0	0	0
PUBLIC STORAGE	STOCK	74460W206	343	13,836	SH		SOLE		0	0	0
PUBLIC STORAGE	STOCK	74460W404	192	7,840	SH		SOLE		0	0	0
REGENCY CENTERS CORP	STOCK	758849707	1,160	45,134	SH		SOLE		0	0	0
REGENCY CENTERS CORP	STOCK	758849806	766	31,275	SH		SOLE		0	0	0
REGENCY ENERGY P	STOCK	75885Y107	2,418	74,114	SH		SOLE		0	0	0
SCE TRUST I	STOCK	78406T201	450	19,125	SH		SOLE		0	0	0
EIX 5.1	STOCK	78407R204	166	7,700	SH		SOLE		0	0	0
SENIOR HOUSING PROP TRUS	STOCK	81721M208	940	40,000	SH		SOLE		0	0	0
STANLEY BLACK & DECKER I	STOCK	854502705	511	20,687	SH		SOLE		0	0	0
STATE STREET CORP	STOCK	857477509	231	10,050	SH		SOLE		0	0	0
TC PIPELINES LP	STOCK	87233Q108	777	11,475	SH		SOLE		0	0	0
TARGA RESOURCES PARTNERS	STOCK	87611X105	6,211	85,844	SH		SOLE		0	0	0
TAUBMAN CENTERS INC	STOCK	876664608	1,073	42,562	SH		SOLE		0	0	0
TAUBMAN CENTERS PFD	STOCK	876664707	805	32,108	SH		SOLE		0	0	0
TELEPHONE & DATA SYSTEM	STOCK	879433795	129	5,700	SH		SOLE		0	0	0
US BANCORP	STOCK	902973833	232	8,100	SH		SOLE		0	0	0
US CELLULAR CORP	STOCK	911684405	506	19,992	SH		SOLE		0	0	0
VENTAS REALTY LP	STOCK	92276M204	241	10,000	SH		SOLE		0	0	0
VORNADO REALTY TRUST	STOCK	929042844	314	13,626	SH		SOLE		0	0	0
VORNADO REALTY TRUST	STOCK	929042869	418	15,817	SH		SOLE		0	0	0
VORNADO REALTY TRUST	STOCK	929042877	327	12,811	SH		SOLE		0	0	0
WELLS FARGO & COMPANY	STOCK	949746747	502	22,050	SH		SOLE		0	0	0
WILLIAMS PARTNER	STOCK	96950F104	5,096	96,061	SH		SOLE		0	0	0
AEGON NV	STOCK	007924301	382	15,000	SH		SOLE		0	0	0
AEGON NV	STOCK	007924608	553	19,400	SH		SOLE		0	0	0
ALEXANDRIA REAL ESTATE E	STOCK	015271703	273	10,800	SH		SOLE		0	0	0
ARCP 6.7 12/31/49	STOCK	02917T401	347	15,029	SH		SOLE		0	0	0
ARLINGTON ASSET INVEST	STOCK	041356205	3,684	145,000	SH		SOLE		0	0	0
ATLAS PIPELINE P	STOCK	049392103	1,979	54,292	SH		SOLE		0	0	0
ATLAS RESOURCE PTNR LP	STOCK	04941A101	2,686	138,017	SH		SOLE		0	0	0
AVIVA PLC	STOCK	05382A203	463	16,490	SH		SOLE		0	0	0
BGC PARTNERS INC-CL A	STOCK	05541T101	270	36,300	SH		SOLE		0	0	0
BREITBURN ENERGY PARTNERS	STOCK	106776107	639	31,464	SH		SOLE		0	0	0
CBL 7 3/8	STOCK	124830605	122	4,800	SH		SOLE		0	0	0
CBL & ASSOCIATES PROP	STOCK	124830803	641	26,400	SH		SOLE		0	0	0
CHSCP 7 7/8 12/31/49	STOCK	12542R308	112	4,000	SH		SOLE		0	0	0
CALUMET SPECIALTY PRODUCT	STOCK	131476103	4,803	174,972	SH		SOLE		0	0	0
C 6 7/8 12/34/2049	STOCK	172967341	316	12,000	SH		SOLE		0	0	0
CITY OFFICE REIT, INC.	STOCK	178587101	1,006	74,080	SH		SOLE		0	0	0
CRESTWOOD MIDSTREAM PTN	STOCK	226378107	1,313	57,901	SH		SOLE		0	0	0
DDR 6.5 12/31/49 PFD	STOCK	23317H607	227	9,000	SH		SOLE		0	0	0
DDR 6.25 12/31/49	STOCK	23317H805	311	12,676	SH		SOLE		0	0	0
DIGITAL REALTY	STOCK	253868103	6,004	96,250	SH		SOLE		0	0	0
DLR 7 3/8 12/31/49	STOCK	253868871	916	35,161	SH		SOLE		0	0	0
ENBRIDGE ENERGY	STOCK	29250R106	4,531	116,637	SH		SOLE		0	0	0
ENERGY TRANSFER PARTNERS	STOCK	29273R109	5,785	90,409	SH		SOLE		0	0	0
ETR 6 05/01/51	STOCK	29364N835	55	2,150	SH		SOLE		0	0	0
EQC 6 1/2 12/31/49	STOCK	294628201	143	6,000	SH		SOLE		0	0	0
EQC 7 1/2 11/15/19	STOCK	294628300	1,508	74,047	SH		SOLE		0	0	0
EQC 7 1/4 12/31/49	STOCK	294628409	362	14,060	SH		SOLE		0	0	0
GDP 9 3/4	STOCK	382410884	225	8,850	SH		SOLE		0	0	0
GRAMERCY PROPERTY TRUST	STOCK	38489R100	1,642	285,000	SH		SOLE		0	0	0
GPT 7 1/8 12/31/49	STOCK	38489R506	75	3,000	SH		SOLE		0	0	0
HUDSON PACIFIC PROPERTIE	STOCK	444097208	567	22,000	SH		SOLE		0	0	0
INDEPENDENCE REALTY TRUST	STOCK	45378A106	761	78,655	SH		SOLE		0	0	0
JPM 6.3 12/31/49	STOCK	481246700	349	14,000	SH		SOLE		0	0	0
JPM 6.27 12/31/49	STOCK	48127A161	307	12,000	SH		SOLE		0	0	0
KRC 6 7/8 12/31/49	STOCK	49427F702	641	24,949	SH		SOLE		0	0	0
KINDER MORGAN ENERGY	STOCK	494550106	5,592	59,946	SH		SOLE		0	0	0
LHO 7 1/2	STOCK	517942702	272	10,339	SH		SOLE		0	0	0
LEXINGTON REALTY	STOCK	529043101	1,589	162,265	SH		SOLE		0	0	0
MARLIN MIDSTREAM PTNRS LP	STOCK	57118V100	2,332	109,362	SH		SOLE		0	0	0
MILL 10 1/2 12/31/49	STOCK	600527303	297	12,000	SH		SOLE		0	0	0
NORTHERN TRUST CORP	STOCK	665859872	49	2,000	SH		SOLE		0	0	0
PEB 7 7/8 12/31/49	STOCK	70509V209	154	6,000	SH		SOLE		0	0	0
PEB 8.00% 12/31/49	STOCK	70509V308	69	2,600	SH		SOLE		0	0	0
PITNEY BOWES INC	STOCK	724479506	200	7,700	SH		SOLE		0	0	0
CTL 6 7/8 10/1/54	STOCK	74913G105	292	12,000	SH		SOLE		0	0	0
QWEST CORP	STOCK	74913G204	52	2,000	SH		SOLE		0	0	0
REALTY INCOME CORP	STOCK	756109807	118	4,500	SH		SOLE		0	0	0
SLG 6 1/2	STOCK	78440X507	205	8,100	SH		SOLE		0	0	0
TAUBMAN CENTERS INC	STOCK	876664608	1,073	42,562	SH		SOLE		0	0	0
TAUBMAN CENTERS PFD	STOCK	876664707	805	32,108	SH		SOLE		0	0	0
US CELLULAR CORP	STOCK	911684405	506	19,992	SH		SOLE		0	0	0
Vanguard Nat Res	STOCK	92205F106	410	14,929	SH		SOLE		0	0	0
VNR 7 5/8 12/31/49	STOCK	92205F304	646	26,100	SH		SOLE		0	0	0
WILLIAMS PARTNER	STOCK	96950F104	5,096	96,061	SH		SOLE		0	0	0
ZION 6.95 09/15/28	STOCK	989701818	533	20,000	SH		SOLE		0	0	0
ACCESS MIDSTREAM PRTN LP	STOCK	00434L109	2,496	39,220	SH		SOLE		0	0	0
AMERICAN MIDSTREAM PRTNS	STOCK	02752P100	930	31,975	SH		SOLE		0	0	0
AMERIGAS PARTNERS LP	STOCK	030975106	563	12,346	SH		SOLE		0	0	0
ATLAS PIPELINE P	STOCK	049392103	1,979	54,292	SH		SOLE		0	0	0
ATLAS RESOURCE PTNR LP	STOCK	04941A101	2,686	138,017	SH		SOLE		0	0	0
BLUEKNIGHT ENERGY PARTNER	STOCK	09625U109	1,057	128,284	SH		SOLE		0	0	0
BREITBURN ENERGY PARTNERS	STOCK	106776107	639	31,464	SH		SOLE		0	0	0
BUCKEYE PARTNERS LP	STOCK	118230101	2,695	33,841	SH		SOLE		0	0	0
CALUMET SPECIALTY PRODUCT	STOCK	131476103	4,803	174,972	SH		SOLE		0	0	0
CONE MIDSTREAM PARTNERS	STOCK	206812109	71	2,530	SH		SOLE		0	0	0
CRESTWOOD MIDSTREAM PTN	STOCK	226378107	1,313	57,901	SH		SOLE		0	0	0
DCP MIDSTREAM PA	STOCK	23311P100	1,805	33,155	SH		SOLE		0	0	0
EQT MIDSTREAM PTNS	STOCK	26885B100	930	10,378	SH		SOLE		0	0	0
EV Energy Partner LP	STOCK	26926V107	520	14,654	SH		SOLE		0	0	0
EL PASO PIPELINE PARTNERS	STOCK	283702108	1,089	27,106	SH		SOLE		0	0	0
ENABLE MIDSTREAM PARTNERS	STOCK	292480100	782	31,738	SH		SOLE		0	0	0
ENBRIDGE INC	STOCK	29250N105	168	3,502	SH		SOLE		0	0	0
ENBRIDGE ENERGY	STOCK	29250R106	4,531	116,637	SH		SOLE		0	0	0
ENERGY TRANSFER PARTNERS	STOCK	29273R109	5,785	90,409	SH		SOLE		0	0	0
ENERGY TRANSFER EQUITY LP	STOCK	29273V100	2,037	33,028	SH		SOLE		0	0	0
ENLINK MIDSTREAM PTNR	STOCK	29336U107	3,296	108,231	SH		SOLE		0	0	0
ENTERPRISE PRODUCTS	STOCK	293792107	7,686	190,726	SH		SOLE		0	0	0
EXTERRAN PARTNERS LP	STOCK	30225N105	915	31,212	SH		SOLE		0	0	0
FERRELLGAS PARTNERS LP	STOCK	315293100	563	20,954	SH		SOLE		0	0	0
Genesis Energy LP	STOCK	371927104	2,695	51,198	SH		SOLE		0	0	0
GLOBAL PARTNERS LP	STOCK	37946R109	828	19,874	SH		SOLE		0	0	0
HANNON ARMSTRONG	STOCK	41068X100	660	47,791	SH		SOLE		0	0	0
KINDER MORGAN ENERGY	STOCK	494550106	5,592	59,946	SH		SOLE		0	0	0
KINDER MORGAN IN	STOCK	49456B101	433	11,295	SH		SOLE		0	0	0
LRR ENERGY LP	STOCK	50214A104	614	34,227	SH		SOLE		0	0	0
LEGACY RESERVES LP	STOCK	524707304	682	22,971	SH		SOLE		0	0	0
LINN ENERGY LLC	STOCK	536020100	547	18,153	SH		SOLE		0	0	0
MAGELLAN MIDSTRE	STOCK	559080106	3,124	37,106	SH		SOLE		0	0	0
MARKWEST ENERGY PRTN	STOCK	570759100	1,692	22,027	SH		SOLE		0	0	0
MARLIN MIDSTREAM PTNRS LP	STOCK	57118V100	2,332	109,362	SH		SOLE		0	0	0
MARTIN MIDSTREAM PTN	STOCK	573331105	2,011	53,919	SH		SOLE		0	0	0
MEMORIAL PRODUCTION PRTNS	STOCK	586048100	781	35,494	SH		SOLE		0	0	0
MID-CON ENERGY PARTNERS	STOCK	59560V109	536	24,415	SH		SOLE		0	0	0
MIDCOAST ENERGY PTN	STOCK	59564N103	1,594	71,456	SH		SOLE		0	0	0
MILLER ENEGRY RESOURCES	STOCK	600527105	44	10,000	SH		SOLE		0	0	0
NEW SOURCE ENERGY PTN	STOCK	64881E109	520	21,784	SH		SOLE		0	0	0
NUSTAR ENERGY LP	STOCK	67058H102	953	14,450	SH		SOLE		0	0	0
OILTANKING PARTNERS LP	STOCK	678049107	1,737	35,019	SH		SOLE		0	0	0
PLAINS ALL AMER	STOCK	726503105	3,067	52,112	SH		SOLE		0	0	0
QR Energy LP	STOCK	74734R108	698	35,925	SH		SOLE		0	0	0
REGENCY ENERGY P	STOCK	75885Y107	2,418	74,114	SH		SOLE		0	0	0
SOUTHCROSS ENERGY PTN	STOCK	84130C100	1,040	48,725	SH		SOLE		0	0	0
SPECTRA ENERGY	STOCK	84756N109	1,445	27,275	SH		SOLE		0	0	0
SUBURBAN PROPANE PTN	STOCK	864482104	561	12,588	SH		SOLE		0	0	0
SUMMIT MIDSTREAM PTN	STOCK	866142102	1,200	23,592	SH		SOLE		0	0	0
SUNOCO LOGISTICS	STOCK	86764L108	1,316	27,260	SH		SOLE		0	0	0
TALLGRASS ENERGY PARTNERS	STOCK	874697105	1,254	27,681	SH		SOLE		0	0	0
TARGA RESOURCES PARTNERS	STOCK	87611X105	6,211	85,844	SH		SOLE		0	0	0
USA COMPRESSION PTN	STOCK	90290N109	1,765	72,674	SH		SOLE		0	0	0
Vanguard Nat Res	STOCK	92205F106	410	14,929	SH		SOLE		0	0	0
WESTERN GAS PARTNERS LP	STOCK	958254104	3,385	45,131	SH		SOLE		0	0	0
WILLIAMS COS INC	STOCK	969457100	170	3,076	SH		SOLE		0	0	0
WILLIAMS PARTNER	STOCK	96950F104	5,096	96,061	SH		SOLE		0	0	0
TEEKAY LNG PARTNERS	STOCK	Y8564M105	1,143	26,236	SH		SOLE		0	0	0
TEEKAY OFFSHORE PARTNERS	STOCK	Y8565J101	545	16,233	SH		SOLE		0	0	0
TRANSOCEAN PARTNERS	STOCK	Y8977Y100	778	29,722	SH		SOLE		0	0	0