Alpine Woods Capital Investors 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
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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
1ST CENTURY BANCSHARES INC	COM	31943X102	140	20,000	SH		SOLE		20,000	0	0
3M CO	COM	88579Y101	555	3,600	SH		SOLE	1	600	0	3,000
ABBOTT LABS	COM	002824100	1,184	24,133	SH		SOLE	1	10,900	0	13,233
ABBVIE INC	COM	00287Y109	2,293	34,133	SH		SOLE	1	21,300	0	12,833
ABENGOA YIELD PLC	ORD SHS	G00349103	6,655	212,496	SH		SOLE		212,496	0	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	16,516	170,655	SH		SOLE	1	163,600	0	7,055
ACE LTD	SHS	H0023R105	356	3,500	SH		SOLE		3,500	0	0
ACUITY BRANDS INC	COM	00508Y102	1,080	6,000	SH		SOLE		6,000	0	0
ADVISORY BOARD CO/THE	COM	00762W107	407	7,437	SH		SOLE		7,437	0	0
AEGEAN MARINE PETROLEUM NETWRK	SHS	Y0017S102	882	71,380	SH		SOLE		71,380	0	0
AIR METHODS CORP	COM PAR $.06	009128307	1,591	38,480	SH		SOLE	1	25,500	0	12,980
ALEXANDERS INC	COM	014752109	7,745	18,892	SH		SOLE	1	7,900	0	10,992
ALEXANDRIA REAL ESTATE EQ INC	COM	015271109	4,900	56,028	SH		SOLE	1	51,528	0	4,500
ALLERGAN PLC	SHS	G0177J108	3,090	10,183	SH		SOLE	1	4,083	0	6,100
ALLIANCE BANCORP INC PA	COM	01890A108	321	14,105	SH		SOLE		14,105	0	0
ALLSCRIPT MISYS HEALTCAR SOLNS	COM	01988P108	205	15,000	SH		SOLE		15,000	0	0
ALLY FINANCIAL INC	COM	02005N100	202	9,000	SH		SOLE		9,000	0	0
ALPINE GLOBAL PREMIER PPTYS FD	COM SBI	02083A103	4,062	627,826	SH		SOLE	1	0	0	627,826
ALPINE TOTAL DYNAMIC DIVID FD	COM SH BEN INT N	021060207	3,657	423,269	SH		SOLE	1	0	0	423,269
ALTISOURCE RESIDENTi	CL B	02153W100	3,734	221,598	SH		SOLE		221,598	0	0
AMBARELLA INC	SHS	G037AX101	1,335	13,000	SH		SOLE		13,000	0	0
AMERCO	COM	023586100	5,629	17,220	SH		SOLE	1	12,200	0	5,020
AMERICAN ASSETS TRUST INC	COM	024013104	1,024	26,114	SH		SOLE		26,114	0	0
AMERICAN CAMPUS COMMUNITIES	COM	024835100	565	15,000	SH		SOLE		15,000	0	0
AMERICAN CAP LTD	COM	02503Y103	244	18,000	SH		SOLE		18,000	0	0
AMERICAN CAPITAL MORTGAGE IN	COM	02504A104	4,797	300,000	SH		SOLE		300,000	0	0
AMERICAN ELEC PWR INC	COM	025537101	1,134	21,400	SH		SOLE	1	11,000	0	10,400
AMERICAN REALTY CAPITAL PROP	COM	02917T104	2,139	263,050	SH		SOLE	1	247,150	0	15,900
AMERICAN TOWER CORP	COM	03027X100	20,640	221,247	SH		SOLE		221,247	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	8,977	184,600	SH		SOLE		184,600	0	0
AMERIPRISE FINL INC	COM	03076C106	1,074	8,600	SH		SOLE	1	6,500	0	2,100
AMETEK INC NEW	COM	031100100	1,249	22,800	SH		SOLE	1	15,000	0	7,800
AMGEN INC	COM	031162100	3,339	21,750	SH		SOLE	1	14,250	0	7,500
ANHEUSER-BUSCH INBEV	SPONSORED ADR	03524A108	17,412	144,300	SH		SOLE		144,300	0	0
ANSYS INC	COM	03662Q105	871	9,550	SH		SOLE		9,550	0	0
ANTHEM INC	COM	036752103	14,149	86,200	SH		SOLE	1	83,300	0	2,900
APACHE CORP	COM	037411105	1,647	28,572	SH		SOLE		28,572	0	0
APOLLO COML REAL EST FIN INC	COM	03762U105	580	35,275	SH		SOLE		35,275	0	0
APOLLO GLOBAL MANAGEMENT	CL A SHS	037612306	1,119	50,500	SH		SOLE		50,500	0	0
APPLE INC	COM	037833100	44,926	358,192	SH		SOLE	1	355,007	0	3,185
APPLIED MATLS INC	COM	038222105	10,594	551,200	SH		SOLE		551,200	0	0
ARATANA THERAPEUTICS INC	COM	03874P101	269	17,800	SH		SOLE		17,800	0	0
ARES COMMERCIAL REAL ESTATE	COM	04013V108	239	21,000	SH		SOLE		21,000	0	0
ARES MANAGEMENT LP	COM UNIT RP IN	04014Y101	555	30,000	SH		SOLE		30,000	0	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	13,347	209,500	SH		SOLE		209,500	0	0
AT&T INC	COM	00206R102	4,658	131,146	SH		SOLE	1	119,700	0	11,446
ATLANTIC COAST FED CORP	COM	048426100	350	78,636	SH		SOLE		78,636	0	0
ATLAS FINANCIAL HOLDINGS INC	SHS NEW	G06207115	218	11,000	SH		SOLE		11,000	0	0
AVAGO TECHNOLOGIES LTD	SHS	Y0486S104	14,064	105,800	SH		SOLE	1	102,900	0	2,900
AVALONBAY CMNTYS INC	COM	053484101	12,889	80,625	SH		SOLE		80,625	0	0
AZZ INC	COM	002474104	317	6,121	SH		SOLE		6,121	0	0
BANC OF CALIFORNIA INC.	COM	05990k106	329	23,895	SH		SOLE		23,895	0	0
BANCO DE CHILE	SPONSORED ADR	059520106	650	9,940	SH		SOLE		9,940	0	0
BANK COMM HLDGS	COM	06424J103	266	46,381	SH		SOLE		46,381	0	0
BANK OF AMERICA CORPORATION	COM	060505104	19,078	1,120,890	SH		SOLE	1	973,615	0	147,275
BANK OF NEW YORK MELLON CORP	COM	064058100	1,690	40,266	SH		SOLE	1	0	0	40,266
BANK OF THE OZARKS	COM	063904106	686	15,000	SH		SOLE		15,000	0	0
BANKWELL FINANCIAL GROUP INC	COM	06654A103	499	28,000	SH		SOLE		28,000	0	0
BECTON DICKINSON & CO	COM	075887109	3,496	24,678	SH		SOLE	1	19,600	0	5,078
BGC PARTNERS INC	CL A	05541T101	219	25,000	SH		SOLE		25,000	0	0
BLACKSTONE GROUP L P	COM UNIT LTD	09253U108	450	11,000	SH		SOLE		11,000	0	0
BOSTON PROPERTIES INC	COM	101121101	15,948	131,761	SH		SOLE	1	126,611	0	5,150
BRISTOW GROUP INC	COM	110394103	1,727	32,400	SH		SOLE	1	17,000	0	15,400
BROADCOM CORP	CL A	111320107	6,961	135,200	SH		SOLE		135,200	0	0
BT GROUP PLC	ADR	05577E101	16,432	231,800	SH		SOLE		231,800	0	0
C1 FINANCIAL INC	COM	12591N109	403	20,812	SH		SOLE		20,812	0	0
CALIFORNIA UTD BK ENCINO CA	COM	126534106	787	35,500	SH		SOLE		35,500	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	1,560	21,000	SH		SOLE		21,000	0	0
CAMPUS CREST COMMUNITIES, INC.	COM	13466Y105	211	38,000	SH		SOLE		38,000	0	0
CANADIAN PACIFIC RAILWAY LTD	COM	13645T100	20,157	125,800	SH		SOLE		125,800	0	0
CAPITAL ONE FINL CORP	COM	14040H105	1,648	18,728	SH		SOLE	1	10,000	0	8,728
CARDINAL HEALTH INC	COM	14149Y108	909	10,861	SH		SOLE		10,861	0	0
CARDTRONICS INC	COM	14161H108	287	7,746	SH		SOLE		7,746	0	0
CARLISLE COS INC	COM	142339100	263	2,628	SH		SOLE	1	0	0	2,628
CARLYLE GROUP/THE	COM UTS LTD PTN	14309L102	563	20,000	SH		SOLE		20,000	0	0
CARNIVAL CORP	PAIRED CTF	143658300	7,606	154,000	SH		SOLE		154,000	0	0
CAROLINA TRUST BANK	COM	144200102	543	105,786	SH		SOLE		105,786	0	0
CARTER'S INC	COM	146229109	13,479	126,800	SH		SOLE		126,800	0	0
CATHAY GENERAL BANCORP	COM	149150104	1,752	54,000	SH		SOLE	1	20,000	0	34,000
CBL & ASSOC PPTYS INC	COM	124830100	1,429	88,191	SH		SOLE		88,191	0	0
CBS CORP NEW	CL B	124857202	8,719	157,100	SH		SOLE		157,100	0	0
CENTERSTATE BANKS INC	COM	15201P109	169	12,493	SH		SOLE		12,493	0	0
CENTRAL FED CORP	COM NEW	15346Q202	125	95,540	SH		SOLE		95,540	0	0
CENTURY COMMUNITIES INC	COM	156504300	604	30,000	SH		SOLE		30,000	0	0
CERNER CORP	COM	156782104	2,348	34,000	SH		SOLE		34,000	0	0
CHART INDUSTRIES INC	COM PAR $0.01	16115Q308	526	14,700	SH		SOLE		14,700	0	0
CHATHAM LODGING TR	COM	16208T102	1,002	37,842	SH		SOLE		37,842	0	0
CHESAPEAKE LODGING TR	SH BEN INT	165240102	1,209	39,658	SH		SOLE		39,658	0	0
CHEVRON CORP NEW	COM	166764100	10,331	107,086	SH		SOLE	1	104,800	0	2,286
CHUBB CORP	COM	171232101	990	10,405	SH		SOLE		10,405	0	0
CIA SANEAMENTO BASICO	SPONSORED ADR	20441A102	1,385	267,300	SH		SOLE		267,300	0	0
CINEMARK HOLDINGS INC	COM	17243V102	2,129	53,000	SH		SOLE		53,000	0	0
CISCO SYS INC	COM	17275R102	10,446	380,400	SH		SOLE		380,400	0	0
CITIGROUP INC	COM NEW	172967424	12,142	219,799	SH		SOLE		219,799	0	0
CITIZENS FIRST CORP	COM	17462Q107	324	25,934	SH		SOLE		25,934	0	0
CLOVIS ONCOLOGY INC	COM	189464100	527	6,000	SH		SOLE		6,000	0	0
CME GROUP INC	COM	12572Q105	7,631	82,000	SH		SOLE	1	76,500	0	5,500
CMS ENERGY CORP	COM	125896100	16,636	522,500	SH		SOLE	1	510,900	0	11,600
COLGATE PALMOLIVE CO	COM	194162103	6,973	106,600	SH		SOLE		106,600	0	0
COLONY CAPITAL INC	CL A	19624R106	28,793	1,271,207	SH		SOLE		1,271,207	0	0
COMCAST CORP NEW	CL A	20030N101	11,797	196,161	SH		SOLE		196,161	0	0
COMERICA INC	COM	200340107	333	6,495	SH		SOLE		6,495	0	0
CONSOLIDATED EDISON INC	COM	209115104	776	13,400	SH		SOLE	1	0	0	13,400
CORESITE REALTY CORP	COM	21870Q105	1,734	38,171	SH		SOLE		38,171	0	0
CORRECTIONS CORP OF AMERICA	COM NEW	22025Y407	2,355	71,200	SH		SOLE		71,200	0	0
COUSINS PPTYS INC	COM	222795106	385	37,087	SH		SOLE		37,087	0	0
COWEN GROUP INC NEW	CL A	223622101	153	23,823	SH		SOLE		23,823	0	0
CRACKER BARREL OLD COUNTRY	COM	22410J106	2,685	18,000	SH		SOLE	1	15,000	0	3,000
CROWN CASTLE INTL CORP	COM	22822V101	3,662	45,600	SH		SOLE		45,600	0	0
CTS CORP	COM	126501105	298	15,472	SH		SOLE		15,472	0	0
CVS CAREMARK CORPORATION	COM	126650100	25,853	246,500	SH		SOLE		246,500	0	0
CYRUSONE INC	COM	23283R100	535	18,169	SH		SOLE		18,169	0	0
D R HORTON INC	COM	23331A109	18,641	681,326	SH		SOLE	1	655,000	0	26,326
DAVITA INC	COM	23918K108	604	7,600	SH		SOLE		7,600	0	0
DDR CORP	COM	23317H102	388	25,075	SH		SOLE		25,075	0	0
DELPHI AUTOMOTIVE PLC	SHS	G27823106	7,028	82,600	SH		SOLE		82,600	0	0
DELUXE CORP	COM	248019101	4,805	77,500	SH		SOLE	1	64,000	0	13,500
DESCARTES SYSTEMS GRP/THE	COM	249906108	377	23,429	SH		SOLE		23,429	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	897	70,000	SH		SOLE		70,000	0	0
DIGITAL REALTY TRUST INC	COM	253868103	12,863	192,900	SH		SOLE	1	180,000	0	12,900
DISCOVER FINL SVCS	COM	254709108	12,665	219,800	SH		SOLE		219,800	0	0
DISH NETWORK CORP.	CL A	25470M109	3,128	46,200	SH		SOLE		46,200	0	0
DOLLAR GENERAL CORP	COM	256677105	7,269	93,500	SH		SOLE		93,500	0	0
DOMINION RES INC VA NEW	COM	25746U109	2,575	38,500	SH		SOLE		38,500	0	0
DOUGLAS EMMETT INC	COM	25960P109	1,603	59,509	SH		SOLE		59,509	0	0
DOVER CORP	COM	260003108	209	2,976	SH		SOLE		2,976	0	0
DTE ENERGY COMPANY	COM	233331107	2,142	28,700	SH		SOLE		28,700	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	3,038	47,500	SH		SOLE	1	38,000	0	9,500
DUKE ENERGY CORP NEW	COM NEW	26441C204	2,537	35,919	SH		SOLE	1	16,000	0	19,919
DUPONT FABROS TECHNOLOGY INC	COM	26613Q106	1,188	40,352	SH		SOLE		40,352	0	0
DYCOM INDUSTRIES INC	COM	267475101	655	11,133	SH		SOLE		11,133	0	0
E HOUSE CHINA HLDGS LTD	ADR	26852W103	1,942	289,000	SH		SOLE		289,000	0	0
E M C CORP MASS	COM	268648102	16,554	627,300	SH		SOLE		627,300	0	0
EAGLE PHARMACEUTICALS INC	COM	269796108	323	4,000	SH		SOLE		4,000	0	0
EAST WEST BANCORP INC	COM	27579R104	829	18,500	SH		SOLE		18,500	0	0
EASTMAN CHEMICAL CO	COM	277432100	3,248	39,700	SH		SOLE	1	25,000	0	14,700
ECOLAB INC	COM	278865100	656	5,800	SH		SOLE	1	0	0	5,800
EDGEWELL PERSONAL CARE CO	COM	28035Q102	11,501	117,900	SH		SOLE		117,900	0	0
EDWARDS LIFESCIENCES CORP	COM	28176E108	1,731	12,156	SH		SOLE		12,156	0	0
EMPIRE STATE REALTY TRUST IN	CL A	292104106	776	45,455	SH		SOLE		45,455	0	0
EMPRESAS ICA S A DE CV	SPONS ADR NEW	292448206	1,566	500,400	SH		SOLE		500,400	0	0
ENBRIDGE INC	COM	29250N105	19,729	101,800	SH		SOLE		421,700	0	0
EOG RESOURCES INC	COM	26875P101	7,092	81,000	SH		SOLE		81,000	0	0
EPR PROPERTIES	COM SH BEN INT	26884U109	494	9,012	SH		SOLE		9,012	0	0
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	1,520	28,900	SH		SOLE		28,900	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	4,797	68,360	SH		SOLE		68,360	0	0
ESSENT GROUP LTD	COM	G3198U102	228	8,352	SH		SOLE		8,352	0	0
ESSEX PPTY TR INC	COM	297178105	5,029	23,665	SH		SOLE		23,665	0	0
EVERSOURCE ENERGY	COM	30040W108	15,662	344,900	SH		SOLE		344,900	0	0
EXAMWORKS GROUP INC	COM	30066A105	423	10,814	SH		SOLE		10,814	0	0
EXELON CORP	COM	30161N101	2,204	70,136	SH		SOLE		70,136	0	0
EXPRESS SCRIPTS INC	COM	30219G108	7,376	82,935	SH		SOLE	1	53,484	0	29,451
EXTENDED STAY AMERICA INC	UNIT 99/99/9999B	30224P200	7,155	381,193	SH		SOLE		381,193	0	0
EXTRA SPACE STORAGE INC	COM	30225T102	1,044	16,000	SH		SOLE		16,000	0	0
EXXON MOBIL CORP	COM	30231G102	13,787	165,711	SH		SOLE	1	152,000	0	13,711
FAIR ISAAC CORP	COM	303250104	1,373	15,120	SH		SOLE		15,120	0	0
FCB FINANCIAL HOLDINGS INC	CL A	30255G103	306	9,619	SH		SOLE		9,619	0	0
FEDERAL REALTY INVT TR	SH BEN INT NEW	313747206	1,550	12,100	SH		SOLE		12,100	0	0
FEDEX CORP COM	COM	31428X106	20,303	119,150	SH		SOLE	1	107,700	0	11,450
FIDELITY NATIONAL FINANCIAL	FNF GROUP COM	31620R303	240	6,500	SH		SOLE		6,500	0	0
FIFTH STREET ASSET MGMT	CL A COM	31679P109	822	80,000	SH		SOLE		80,000	0	0
FIFTH STREET FINANCE CORP	COM	31678A103	229	35,000	SH		SOLE		35,000	0	0
FIRST BANCORP P R	COM NEW	318672706	193	40,000	SH		SOLE		40,000	0	0
FIRST BUS FINL SVCS INC WIS	COM	319390100	352	7,497	SH		SOLE		7,497	0	0
FIRST INTERNET BANCORP	COM	320557101	306	12,500	SH		SOLE		12,500	0	0
FIRSTENERGY CORP	COM	337932107	397	12,200	SH		SOLE	1	0	0	12,200
FISERV INC	COM	337738108	3,736	45,100	SH		SOLE	1	40,000	0	5,100
FLEETMATICS GROUP LTD	COM	G35569105	431	9,199	SH		SOLE		9,199	0	0
FLIR SYS INC	COM	302445101	2,268	73,600	SH		SOLE		73,600	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	8,483	565,170	SH		SOLE		565,170	0	0
FOREST CITY ENTERPRISES INC	CL A	345550107	553	25,000	SH		SOLE		25,000	0	0
FORTRESS INVESTMENT GROUP LLC	CL A	34958B106	2,316	317,300	SH		SOLE		317,300	0	0
G & K SERVICES INC	CL A	361268105	2,856	41,300	SH		SOLE	1	31,000	0	10,300
GARMIN LTD	SHS	H2906T109	782	17,800	SH		SOLE		17,800	0	0
GATX CORP	COM	361448103	3,620	68,100	SH		SOLE	1	43,500	0	24,600
GENERAC HOLDINGS INC	COM	368736104	2,174	54,700	SH		SOLE	1	49,000	0	5,700
GENERAL ELECTRIC CO	COM	369604103	4,439	167,084	SH		SOLE	1	70,500	0	96,584
GENERAL GROWTH PPTYS INC	COM	370023103	2,336	91,018	SH		SOLE		91,018	0	0
GENESEE & WYOMING INC	CL A	371559105	3,253	42,700	SH		SOLE		42,700	0	0
GEO GROUP INC	COM	36162J106	17,804	521,200	SH		SOLE		521,200	0	0
GILEAD SCIENCES INC	COM	375558103	7,341	62,700	SH		SOLE	1	56,300	0	6,400
GLACIER BANCORP INC NEW	COM	37637Q105	786	26,700	SH		SOLE	1	0	0	26,700
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	417	10,000	SH		SOLE		10,000	0	0
GOOGLE INC	CL C	38259P706	5,601	10,760	SH		SOLE	1	9,224	0	1,536
GOOGLE INC	CL A	38259P508	5,797	10,735	SH		SOLE	1	9,200	0	1,535
GRAINGER W W INC	COM	384802104	1,515	6,400	SH		SOLE	1	5,500	0	900
GRANA Y MONTERO SA	SPONSORED ADR	38500P208	1,278	182,100	SH		SOLE		182,100	0	0
GREAT LAKES DREDGE & DOCK CORP	COM	390607109	1,639	275,000	SH		SOLE		275,000	0	0
GREEN BANCORP INC	COM	39260X100	154	10,000	SH		SOLE		10,000	0	0
GREENBRIER COMPANIES INC	COM	393657101	1,382	29,500	SH		SOLE	1	25,000	0	4,500
GREENHILL & CO INC	COM	395259104	331	8,000	SH		SOLE		8,000	0	0
GRUPO AEROPORTUARIO SUR	SPON ADR SER B	40051E202	2,979	21,000	SH		SOLE		21,000	0	0
GRUPO AVAL ACCIONES Y VALORE	SPONSORED ADS	40053W101	245	25,000	SH		SOLE		25,000	0	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	1,422	34,200	SH		SOLE		34,200	0	0
HATTERAS FINL CORP	COM	41902R103	326	20,000	SH		SOLE		20,000	0	0
HCA HOLDINGS INC	COM	40412C101	6,704	73,900	SH		SOLE		73,900	0	0
HEALTH CARE REIT INC	COM	42217K106	2,350	35,803	SH		SOLE		35,803	0	0
HEALTH INSURANCE INNOVATIONS	COM CL A	42225K106	581	116,923	SH		SOLE		116,923	0	0
HEALTHWAYS INC	COM	422245100	363	30,282	SH		SOLE		30,282	0	0
HENRY SCHEIN INC	COM	806407102	3,688	25,950	SH		SOLE	1	17,500	0	8,450
HERBALIFE LTD	COM USD SHS	G4412G101	386	7,000	SH		SOLE		7,000	0	0
HERON THERAPEUTICS INC	COM	427746102	312	10,000	SH		SOLE		10,000	0	0
HESS CORP	COM	42809H107	401	6,000	SH		SOLE		6,000	0	0
HILTON WORLDWIDE HOLDINGS IN	COM	43300A104	7,852	285,000	SH		SOLE		285,000	0	0
HOME DEPOT INC	COM	437076102	2,145	19,300	SH		SOLE	1	13,000	0	6,300
HOME PROPERTIES INC	COM	437306103	2,593	35,500	SH		SOLE		35,500	0	0
HORMEL FOODS CORP	COM	440452100	530	9,400	SH		SOLE	1	0	0	9,400
HOST HOTELS & RESORTS INC	COM	44107P104	3,441	173,500	SH		SOLE	1	157,000	0	16,500
HOVNANIAN ENTERPRISES INC	CL A	442487203	27	10,000	SH		SOLE	1	0	0	10,000
HOWARD HUGHES CORP	COM	44267D107	7,895	55,000	SH		SOLE		55,000	0	0
HUDSON PACIFIC PROPERTIES IN	COM	444097109	304	10,714	SH		SOLE		10,714	0	0
HUMANA INC	COM	444859102	15,149	79,200	SH		SOLE		79,200	0	0
ILLUMINA INC	COM	452327109	7,250	33,200	SH		SOLE		33,200	0	0
IMPERIAL HOLDINGS INC	COM	452834104	371	64,141	SH		SOLE		64,141	0	0
INTEGRATED DEVICE TECH INC	COM	458118106	269	12,392	SH		SOLE		12,392	0	0
INTEL CORP	COM	458140100	9,234	303,584	SH		SOLE	1	265,000	0	38,584
INTERNATIONAL BUSINESS MACHS	COM	459200101	3,130	19,240	SH		SOLE	1	5,500	0	13,740
INTL FLAVORS & FRAGRANCES	COM	459506101	2,934	26,850	SH		SOLE	1	15,400	0	11,450
INTUITIVE SURGICAL INC	COM NEW	46120E602	2,762	5,700	SH		SOLE	1	5,100	0	600
INVENSENSE INC	COM	46123D205	265	17,574	SH		SOLE		17,574	0	0
INVESCO LTD	SHS	G491BT108	11,210	299,000	SH		SOLE		299,000	0	0
INVESTAR HOLDING CORP	COM	46134L105	699	46,000	SH		SOLE		46,000	0	0
IPG PHOTONICS CORP	COM	44980X109	469	5,500	SH		SOLE		5,500	0	0
IROBOT CORP	COM	462726100	354	11,100	SH		SOLE		11,100	0	0
ISIS PHARMACEUTICALS INC	COM	464330109	576	10,000	SH		SOLE		10,000	0	0
ITC HLDGS CORP	COM	465685105	2,079	64,600	SH		SOLE	1	54,300	0	10,300
J & J SNACK FOODS CORP	COM	466032109	307	2,775	SH		SOLE		2,775	0	0
JARDEN CORP	COM	471109108	1,347	26,025	SH		SOLE	1	21,075	0	4,950
JAZZ PHARMACEUTICALS PLC	SHS USD	G50871105	5,400	30,670	SH		SOLE	1	23,800	0	6,870
JMP GROUP INC	COM	46629U107	98	12,500	SH		SOLE		12,500	0	0
JOHNSON & JOHNSON	COM	478160104	14,958	153,479	SH		SOLE	1	46,730	0	106,749
JPMORGAN CHASE & CO	COM	46625H100	5,579	82,327	SH		SOLE	1	58,000	0	24,327
JUNIPER NETWORKS INC	COM	48203R104	766	29,500	SH		SOLE		29,500	0	0
JUNO THERAPEUTICS INC	COM	48205A109	533	10,000	SH		SOLE		10,000	0	0
JUST ENERGY GROUP INC	COM	48213W101	55	10,500	SH		SOLE	1	0	0	10,500
KANSAS CITY SOUTHERN	COM NEW	485170302	7,761	85,100	SH		SOLE		85,100	0	0
KAR AUCTION SERVICES INC	COM	48238T109	16,351	437,200	SH		SOLE		437,200	0	0
KENNEDY-WILSON HLDGS INC	COM	489398107	552	22,461	SH		SOLE		22,461	0	0
KILROY RLTY CORP	COM	49427F108	9,500	141,473	SH		SOLE		141,473	0	0
KIMCO REALTY CORP	COM	49446R109	1,127	50,000	SH		SOLE		50,000	0	0
KINDER MORGAN HOLDCO LLC	COM	49456B101	806	21,000	SH		SOLE		21,000	0	0
KITE PHARMA INC	COM	49803L109	610	10,000	SH		SOLE		10,000	0	0
KKR & CO L P DEL	COM UNITS	48248M102	409	17,900	SH		SOLE		17,900	0	0
KNIGHT TRANSPORTATION INC	COM	499064103	398	14,867	SH		SOLE		14,867	0	0
KRAFT FOODS GROUP	COM	50076Q106	7,629	89,600	SH		SOLE	1	86,000	0	3,600
L-3 COMMUNICATIONS HLDGS INC	COM	502424104	590	5,200	SH		SOLE		5,200	0	0
LA QUINTA HOLDINGS INC	COM	50420D108	9,513	416,316	SH		SOLE		416,316	0	0
LASALLE HOTEL PPTYS	COM SH BEN INT	517942108	426	12,000	SH		SOLE		12,000	0	0
LAZARD LTD	SHS A	G54050102	8,099	144,000	SH		SOLE		144,000	0	0
LENNAR CORP	CL A	526057104	24,785	485,600	SH		SOLE	1	463,500	0	22,100
LENNAR CORP	CL B	526057302	587	13,620	SH		SOLE		13,620	0	0
LGI HOMES INC	COM	50187T106	3,448	174,307	SH		SOLE		174,307	0	0
LIBERTY PROPERTY TRUST	SH BEN INT	531172104	764	23,708	SH		SOLE		23,708	0	0
LIBERTY TAX INC	CL A	53128T102	498	20,119	SH		SOLE		20,119	0	0
LIGAND PHARMACEUTICALS INC	COM NEW	53220K504	397	3,939	SH		SOLE		3,939	0	0
LINCOLN ELEC HLDGS INC	COM	533900106	1,480	24,300	SH		SOLE	1	15,000	0	9,300
LINEAR TECHNOLOGY CORP	COM	535678106	1,062	24,000	SH		SOLE		24,000	0	0
LIVE NATION ENTERTAINMENT IN	COM	538034109	320	11,645	SH		SOLE		11,645	0	0
LOCKHEED MARTIN CORP	COM	539830109	3,309	17,800	SH		SOLE	1	15,200	0	2,600
LPL FINANCIAL HOLDINGS	COM	50212V100	226	4,869	SH		SOLE		4,869	0	0
M & T BK CORP	COM	55261F104	9,883	79,105	SH		SOLE	1	0	0	79,105
MACERICH CO	COM	554382101	2,307	30,928	SH		SOLE		30,928	0	0
MACK CALI RLTY CORP	COM	554489104	277	15,000	SH		SOLE		15,000	0	0
MAGNA INTL INC	COM	559222401	7,202	128,400	SH		SOLE		128,400	0	0
MALLINCKRODT PLC	SHS	G5785G107	1,518	12,894	SH		SOLE		12,894	0	0
MASTEC INC	COM	576323109	2,758	138,800	SH		SOLE		138,800	0	0
MAXIMUS INC	COM	577933104	3,812	58,000	SH		SOLE	1	25,000	0	33,000
MCDERMOTT INTL INC	COM	580037109	64	12,000	SH		SOLE		12,000	0	0
MCDONALDS CORP	COM	580135101	8,081	85,000	SH		SOLE		85,000	0	0
MCKESSON CORP	COM	58155Q103	19,918	88,600	SH		SOLE	1	77,900	0	10,700
MEDALLION FINL CORP	COM	583928106	287	34,404	SH		SOLE	1	10,104	0	24,300
MEDIVATION INC	COM	58501N101	457	4,000	SH		SOLE		4,000	0	0
MEDLEY CAPITAL CORP	COM	58503F106	267	30,000	SH		SOLE		30,000	0	0
MEDNAX INC	COM	58502B106	6,848	92,400	SH		SOLE	1	57,000	0	35,400
MEDTRONIC INC	SHS	G5960L103	17,414	235,000	SH		SOLE	1	231,000	0	4,000
MERCK & CO INC NEW	COM	58933Y105	7,202	126,500	SH		SOLE	1	119,000	0	7,500
MERITAGE HOMES CORP	COM	59001A102	262	5,566	SH		SOLE		5,566	0	0
META FINANCIAL GROUP INC	COM	59100U108	549	12,793	SH		SOLE		12,793	0	0
METLIFE INC	COM	59156R108	1,433	25,600	SH		SOLE		25,600	0	0
MIDDLEBY CORP	COM	596278101	943	8,400	SH		SOLE	1	6,000	0	2,400
MITEK SYSTEMS INC	COM NEW	606710200	52	13,700	SH		SOLE		13,700	0	0
MOBILEYE NV	ORD SHS	N51488117	1,914	36,000	SH		SOLE		36,000	0	0
MOELIS & CO	CL A	60786M105	249	8,654	SH		SOLE		8,654	0	0
MONARCH FINANCIAL HOLDINGS INC	COM	60907Q100	185	14,760	SH		SOLE		14,760	0	0
MONDELEZ INTERN	CL A	609207105	16,876	410,200	SH		SOLE		410,200	0	0
MYLAN NV	SHS EURO	N59465109	271	4,000	SH		SOLE		4,000	0	0
MYRIAD GENETICS INC	COM	62855J104	340	10,000	SH		SOLE		10,000	0	0
NATIONAL GRID PLC	SPON ADR NEW	636274300	2,828	43,800	SH		SOLE		43,800	0	0
NATIONAL RESEARCH CORP	CL B	637372301	350	10,595	SH		SOLE		10,595	0	0
NATUS MEDICAL INC	COM	639050103	461	10,830	SH		SOLE		10,830	0	0
NEWLINK GENETICS CORP	COM	651511107	1,771	40,000	SH		SOLE		40,000	0	0
NEWMARKET CORP	COM	651587107	355	800	SH		SOLE		800	0	0
NEXSTAR BROADCASTING GROUP	CL A	65336K103	572	10,222	SH		SOLE		10,222	0	0
NEXTERA ENERGY INC	COM	65339F101	5,273	53,788	SH		SOLE	1	38,100	0	15,688
NIC INC	COM	62914B100	505	27,613	SH		SOLE		27,613	0	0
NMI HOLDINGS INC	CL A	629209305	201	25,000	SH		SOLE		25,000	0	0
NN INC	COM	629337106	201	7,879	SH		SOLE		7,879	0	0
NOKIA CORP	SPONSORED ADR	654902204	107	15,600	SH		SOLE		15,600	0	0
NORTHROP GRUMMAN CORP	COM	666807102	2,444	15,407	SH		SOLE	1	11,200	0	4,207
NORTHSTAR ASSET MANAGEMEN	COM	66705Y104	2,420	130,872	SH		SOLE		130,872	0	0
NORTHSTAR REALTY FINANCE	COM NEW	66704R704	26,983	1,697,072	SH		SOLE	1	1,657,372	0	39,700
NOVARTIS A G	SPONSORED ADR	66987V109	27,470	279,339	SH		SOLE	1	275,572	0	3,767
NRG ENERGY INC	COM NEW	629377508	1,293	56,500	SH		SOLE		56,500	0	0
O REILLY AUTOMOTIVE INC	COM	67103H107	226	1,000	SH		SOLE	1	0	0	1,000
OAKTREE CAPITAL GROUP LLC	UNIT CL A	674001201	798	15,000	SH		SOLE		15,000	0	0
OCCIDENTAL PETE CORP DEL	COM	674599105	14,076	181,000	SH		SOLE		181,000	0	0
OCH ZIFF CAP MGMT GROUP	CL A	67551U105	1,988	162,700	SH		SOLE		162,700	0	0
OFG BANCORP	COM	67103X102	213	20,000	SH		SOLE		20,000	0	0
OLD LINE BANCSHARES INC	COM	67984M100	793	49,926	SH		SOLE		49,926	0	0
OM ASSET MANAGEMENT LTD	SHS	G67506108	2,114	118,809	SH		SOLE		118,809	0	0
OMEGA HEALTHCARE INVS INC	COM	681936100	1,044	30,413	SH		SOLE		30,413	0	0
ON ASSIGNMENT INC	COM	682159108	393	10,000	SH		SOLE		10,000	0	0
ONCOMED PHARMACEUTICALS INC	COM	68234X102	450	20,000	SH		SOLE		20,000	0	0
ORASURE TECHNOLOGIES INC	COM	68554V108	189	35,000	SH		SOLE		35,000	0	0
OWENS REALTY MORTGAGE INC	COM	690828108	195	13,000	SH		SOLE		13,000	0	0
PACIFIC MERCANTILE BANCORP	COM	694552100	103	13,602	SH		SOLE		13,602	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	978	57,664	SH		SOLE		57,664	0	0
PACKAGING CORP OF AMERICA	COM	695156109	9,311	149,000	SH		SOLE		149,000	0	0
PARAMOUNT GROUP INC	COM	69924R108	2,342	136,499	SH		SOLE		136,499	0	0
PARK STERLING BANK	COM	70086Y105	199	27,613	SH		SOLE		27,613	0	0
PATRICK INDUSTRIES INC	COM	703343103	410	10,767	SH		SOLE		10,767	0	0
PATTERN ENERGY GROUP INC	CL A	70338P100	11,270	397,107	SH		SOLE	1	377,707	0	19,400
PDF SOLUTIONS INC	COM	693282105	249	15,582	SH		SOLE		15,582	0	0
PEBBLEBROOK HOTEL TR	COM	70509V100	643	15,000	SH		SOLE		15,000	0	0
PENN VA CORP	COM	707882106	394	90,000	SH		SOLE		90,000	0	0
PENNYMAC FINANCIAL SERVICE	CL A	70932B101	262	14,448	SH		SOLE		14,448	0	0
PERRIGO CO Plc	SHS	G97822103	1,201	6,500	SH		SOLE	1	5,300	0	1,200
PFIZER INC	COM	717081103	2,418	72,102	SH		SOLE	1	49,000	0	23,102
PG&E CORP	COM	69331C108	309	6,300	SH		SOLE	1	0	0	6,300
PHILLIPS 66	COM	718546104	7,291	90,500	SH		SOLE		90,500	0	0
PINNACLE FOODS INC	COM	72348P104	13,234	290,600	SH		SOLE		290,600	0	0
PNC FINL SVCS GROUP INC	COM	693475105	526	5,500	SH		SOLE		5,500	0	0
POLARIS INDUSTRIES INC	COM	731068102	1,629	11,000	SH		SOLE		11,000	0	0
POPEYES LOUISIANA KITCHEN INC	COM	732872106	350	5,833	SH		SOLE		5,833	0	0
POPULAR INC	COM NEW	733174700	202	7,000	SH		SOLE		7,000	0	0
PORTOLA PHARMACEUTICALS INC	COM	737010108	410	9,000	SH		SOLE		9,000	0	0
PPG INDS INC	COM	693506107	1,032	9,000	SH		SOLE		9,000	0	0
PRA GROUP INC	COM	69354N106	480	7,703	SH		SOLE		7,703	0	0
PRECISION CASTPARTS CORP	COM	740189105	3,726	18,641	SH		SOLE	1	16,000	0	2,641
PRICELINE GROUP INC	COM NEW	741503403	507	440	SH		SOLE	1	200	0	240
PROCTER & GAMBLE CO	COM	742718109	2,624	33,536	SH		SOLE	1	14,200	0	19,336
PROGRESSIVE WASTE SOLUTIONS	COM	74339G101	2,656	98,900	SH		SOLE		98,900	0	0
PROLOGIS INC	COM	74340W103	3,918	105,592	SH		SOLE		105,592	0	0
PROSHARES	ULT S&P REGLBKG	74347X484	217	2,000	SH		SOLE		2,000	0	0
PROSPERITY BANCSHARES INC	COM	743606105	1,761	30,500	SH		SOLE	1	8,500	0	22,000
PROTO LABS INC	COM	743713109	337	5,000	SH		SOLE		5,000	0	0
PROVIDENCE SERVICE CORP	COM	743815102	380	8,577	SH		SOLE		8,577	0	0
PROVIDENT FINL HLDGS INC	COM	743868101	329	19,651	SH		SOLE		19,651	0	0
PRUDENTIAL FINL INC	COM	744320102	11,973	136,800	SH		SOLE		136,800	0	0
PUBLIC STORAGE	COM	74460D109	4,843	26,265	SH		SOLE		26,265	0	0
PULTE GROUP INC	COM	745867101	1,388	68,872	SH		SOLE	1	55,976	0	12,896
QUALCOMM INC	COM	747525103	11,276	180,038	SH		SOLE	1	174,000	0	6,038
RADNET INC	COM	750491102	123	18,336	SH		SOLE	1	0	0	18,336
RAYMOND JAMES FINANCIAL INC	COM	754730109	238	4,000	SH		SOLE		4,000	0	0
RAYTHEON CO	COM NEW	755111507	10,784	112,713	SH		SOLE	1	107,800	0	4,913
RECEPTOS INC	COM	756207106	287	1,510	SH		SOLE		1,510	0	0
REGENERON PHARMACEUTICALS	COM	75886F107	1,275	2,500	SH		SOLE	1	1,500	0	1,000
REGIONS FINANCIAL CORP NEW	COM	7591EP100	11,154	1,076,653	SH		SOLE		1,076,653	0	0
REPUBLIC FIRST BANCORP INC	COM	760416107	253	73,000	SH		SOLE		73,000	0	0
RETAIL PROPERTIES OF AME	CL A	76131V202	488	35,000	SH		SOLE		35,000	0	0
RIVERVIEW BANCORP INC	COM	769397100	47	11,000	SH		SOLE		11,000	0	0
ROCKWELL MEDICAL INC	COM	774374102	161	10,000	SH		SOLE		10,000	0	0
ROSS STORES INC	COM	778296103	2,693	55,400	SH		SOLE		55,400	0	0
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	7,121	90,500	SH		SOLE		90,500	0	0
RR DONNELLEY & SONS CO	COM	257867101	15,485	888,400	SH		SOLE	1	858,000	0	30,400
RUSH ENTERPRISES INC	CL A	781846209	289	11,024	SH		SOLE		11,024	0	0
RYDER SYSTEM INC	COM	783549108	14,757	168,900	SH		SOLE		168,900	0	0
RYLAND GROUP INC	COM	783764103	7,697	166,000	SH		SOLE		166,000	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	1,219	47,344	SH		SOLE		47,344	0	0
SCANA CORP NEW	COM	80589M102	441	8,700	SH		SOLE	1	0	0	8,700
SCHLUMBERGER LTD	COM	806857108	7,421	86,100	SH		SOLE		86,100	0	0
SCORPIO TANKERS INC	SHS	Y7542C106	11,432	1,133,033	SH		SOLE		1,133,033	0	0
SELECT MEDICAL HOLDINGS CORP	COM	81619Q105	486	30,000	SH		SOLE		30,000	0	0
SEMGROUP CORP	CL A	81663A105	2,790	35,100	SH		SOLE		35,100	0	0
SHORE BANCSHARES INC	COM	825107105	368	39,000	SH		SOLE		39,000	0	0
SIGMA ALDRICH CORP	COM	826552101	2,055	14,750	SH		SOLE	1	10,000	0	4,750
SIGNATURE BK NEW YORK N Y	COM	82669G104	732	5,000	SH		SOLE		5,000	0	0
SILVERCREST ASSET MANAGEMENT	CL A	828359109	152	10,774	SH		SOLE		10,774	0	0
SIMON PPTY GROUP INC NEW	COM	828806109	36,999	213,842	SH		SOLE	1	210,260	0	3,582
SL GREEN RLTY CORP	COM	78440X101	4,607	41,922	SH		SOLE		41,922	0	0
SNAP ON INC	COM	833034101	27,439	172,300	SH		SOLE	1	156,000	0	16,300
SOUTHERN CO	COM	842587107	302	7,200	SH		SOLE	1	0	0	7,200
SOUTHERN NATL BANCORP OF VA IN	COM	843395104	937	84,598	SH		SOLE		84,598	0	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	489	16,736	SH		SOLE		16,736	0	0
STAG INDUSTRIAL INC	COM	85254J102	891	44,537	SH		SOLE		44,537	0	0
STARWOOD HOTELS&RESORTS WRLDWD	COM	85590A401	9,342	115,200	SH		SOLE		115,200	0	0
STARWOOD PPTY TR INC	COM	85571B105	19,053	883,289	SH		SOLE		883,289	0	0
STARWOOD WAYPOINT RESIDE	COM SHS	85571W109	6,855	288,509	SH		SOLE		288,509	0	0
STEIN MART INC	COM	858375108	2,335	223,045	SH		SOLE		223,045	0	0
STRATEGIC HOTELS & RESORTS INC	COM	86272T106	303	25,000	SH		SOLE		25,000	0	0
STRYKER CORP	COM	863667101	297	3,100	SH		SOLE		3,100	0	0
SUMMIT ST BK SANTA ROSA CALIF	COM	866264203	485	37,000	SH		SOLE		37,000	0	0
SUSQUEHANNA BANCSHARES INC PA	COM	869099101	155	11,003	SH		SOLE	1	0	0	11,003
SYMANTEC CORP	COM	871503108	791	34,000	SH		SOLE		34,000	0	0
T-MOBILE US INC	COM	872590104	4,079	105,200	SH		SOLE		105,200	0	0
TAUBMAN CTRS INC	COM	876664103	1,328	19,106	SH		SOLE		19,106	0	0
TAYLOR MORRISON HOME CORP	CL A	87724P106	2,749	135,000	SH		SOLE		135,000	0	0
TE CONNECTIVITY LTD	REG SHS	H84989104	16,883	262,563	SH		SOLE		262,563	0	0
TEAM HEALTH HOLDINGS INC	COM	87817A107	1,267	19,400	SH		SOLE	1	16,000	0	3,400
TEEKAY LNG PARTNERS LP	PRTNRSP UNITS	Y8564M105	934	29,000	SH		SOLE		29,000	0	0
TELEFLEX INC	COM	879369106	1,639	12,100	SH		SOLE	1	7,500	0	4,600
TERRENO RLTY CORP	COM	88146M101	1,006	51,058	SH		SOLE		51,058	0	0
TEVA PHARMACEUTICAL INDS LTD	ADR	881624209	24,020	406,427	SH		SOLE	1	394,000	0	12,427
TEXAS CAPITAL BANCSHARES INC	COM	88224Q107	436	7,000	SH		SOLE		7,000	0	0
THERAPEUTICSMD INC	COM	88338N107	236	30,000	SH		SOLE		30,000	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	19,847	152,950	SH		SOLE	1	148,800	0	4,150
THIRD POINT REINSURANCE LTD	COM	G8827U100	236	16,000	SH		SOLE		16,000	0	0
THOR INDS INC	COM	885160101	10,524	187,000	SH		SOLE	1	177,500	0	9,500
TIFFANY & CO NEW	COM	886547108	974	10,610	SH		SOLE	1	3,900	0	6,710
TIME WARNER CABLE INC	COM	88732J207	4,722	26,500	SH		SOLE		26,500	0	0
TIME WARNER INC	COM NEW	887317303	8,085	92,500	SH		SOLE		92,500	0	0
TJX COS INC NEW	COM	872540109	16,053	242,600	SH		SOLE		242,600	0	0
TOLL BROTHERS INC	COM	889478103	1,703	44,600	SH		SOLE	1	35,000	0	9,600
TRAVELCENTERS OF AMERICA LLC	COM	894174101	1,871	126,000	SH		SOLE		126,000	0	0
TRINITY INDUSTRIES INC	COM	896522109	2,006	75,900	SH		SOLE	1	58,000	0	17,900
TRIUMPH BANCORP INC	COM	89679E300	192	14,600	SH		SOLE		14,600	0	0
TWO HBRS INVT CORP	COM	90187B101	16,703	1,714,843	SH		SOLE		1,714,843	0	0
UDR INC	COM	902653104	1,182	36,900	SH		SOLE		36,900	0	0
ULTA SALON COSMETICS & FRAGR	COM	90384S303	1,584	10,255	SH		SOLE		10,255	0	0
UNION PAC CORP	COM	907818108	13,949	146,260	SH		SOLE	1	116,160	0	30,100
UNITED RENTALS INC	COM	911363109	1,744	19,900	SH		SOLE	1	12,500	0	7,400
UNITED TECHNOLOGIES CORP	COM	913017109	9,729	87,700	SH		SOLE		87,700	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	7,589	62,206	SH		SOLE		62,206	0	0
UNIVERSAL DISPLAY CORP	COM	91347P105	279	5,400	SH		SOLE		5,400	0	0
UNIVERSAL HEALTH SERVICES	CL B	913903100	8,270	58,200	SH		SOLE	1	49,800	0	8,400
UNUM GROUP	COM	91529Y106	257	7,200	SH		SOLE		7,200	0	0
URBAN EDGE PROPERTIES	COM	91704F104	539	25,924	SH		SOLE		25,924	0	0
US CONCRETE INC	COM NEW	90333L201	384	10,124	SH		SOLE		10,124	0	0
US ECOLOGY INC	COM	91732J102	926	19,000	SH		SOLE		19,000	0	0
V F CORP	COM	918204108	3,368	48,300	SH		SOLE	1	37,300	0	11,000
VALLEY NATL BANCORP	COM	919794107	1,693	164,243	SH		SOLE	1	108,548	0	55,695
VALSPAR CORP	COM	920355104	2,397	29,300	SH		SOLE	1	14,000	0	15,300
VENTAS INC	COM	92276F100	4,980	80,212	SH		SOLE	1	55,712	0	24,500
VERASTEM INC	COM	92337C104	121	16,020	SH		SOLE		16,020	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	1,659	35,597	SH		SOLE	1	29,000	0	6,597
VODAFONE GROUP PLC NEW	SPNSR ADR NO PAR	92857W308	17,782	487,848	SH		SOLE		487,848	0	0
VORNADO RLTY TR	SH BEN INT	929042109	4,923	51,855	SH		SOLE	1	46,117	0	5,738
WALGREENS BOOTS ALLIANCE INC	COM	931427108	2,753	32,600	SH		SOLE	1	24,900	0	7,700
WALT DISNEY CO/THE	COM DISNEY	254687106	17,429	152,700	SH		SOLE		152,700	0	0
WASHINGTON TRUST BANCORP	COM	940610108	569	14,400	SH		SOLE	1	8,000	0	6,400
WATSCO INC	COM	942622200	371	3,000	SH		SOLE		3,000	0	0
WCI COMMUNITIES INC	COM PAR $0.01	92923C807	7,678	314,780	SH		SOLE		314,780	0	0
WD-40 CO	COM	929236107	262	3,000	SH		SOLE		3,000	0	0
WEIS MARKETS INC	COM	948849104	590	14,000	SH		SOLE		14,000	0	0
WELLS FARGO & CO NEW	COM	949746101	64,264	1,142,674	SH		SOLE	1	221,619	0	921,055
WESTERN DIGITAL CORP	COM	958102105	7,348	93,700	SH		SOLE		93,700	0	0
WESTLAKE CHEMICAL CORP	COM	960413102	1,008	14,700	SH		SOLE		14,700	0	0
WHIRLPOOL CORP	COM	963320106	1,436	8,300	SH		SOLE	1	2,000	0	6,300
WILLIAMS COS INC	COM	969457100	22,262	387,900	SH		SOLE		387,900	0	0
WISCONSIN ENERGY CORP	COM	92939U106	630	14,000	SH		SOLE		14,000	0	0
WISDOMTREE INVESTMENTS INC	COM	97717P104	221	10,040	SH		SOLE		10,040	0	0
WP GLIMCHER INC	COM	92939N102	409	30,236	SH		SOLE		30,236	0	0
WR BERKLEY CORP	COM	084423102	1,039	20,000	SH		SOLE		20,000	0	0
XCEL ENERGY INC	COM	98389B100	2,330	72,400	SH		SOLE		72,400	0	0
XEROX CORP	COM	984121103	373	35,006	SH		SOLE		35,006	0	0
ZELTIQ AESTHETICS INC	COM	98933Q108	914	31,000	SH		SOLE		31,000	0	0
ZILLOW GROUP INC	CL A	98954M101	318	3,660	SH		SOLE		3,660	0	0
ZIMMER BIOMET HOLDINGS INC	COM	98956P102	3,703	33,900	SH		SOLE	1	22,500	0	11,400
ZOETIS INC	CL A	98978V103	336	6,958	SH		SOLE	1	0	0	6,958