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	138	20,000	SH		SOLE		20,000	0	0
3M CO	COM	88579Y101	452	3,000	SH		SOLE		0	0	3,000
ABBOTT LABS	COM	002824100	1,533	34,133	SH		SOLE		21,000	0	13,133
ABBVIE INC	COM	00287Y109	1,933	32,633	SH		SOLE		20,000	0	12,633
ABENGOA YIELD PLC	ORD SHS	G00349103	2,661	137,939	SH		SOLE		137,939	0	0
ACCENTURE PLC IRELAND SHS CLASS A	SHS CLASS A	G1151C101	17,094	163,575	SH		SOLE		156,700	0	6,875
ACUITY BRANDS INC	COM	00508Y102	935	4,000	SH		SOLE		4,000	0	0
ADVISORY BOARD CO/THE	COM	00762W107	416	8,382	SH		SOLE		8,382	0	0
AEGEAN MARINE PETROLEUM NETWRK SHS	SHS	Y0017S102	349	41,758	SH		SOLE		41,758	0	0
AETNA INC	COM	00817Y108	1,135	10,500	SH		SOLE		10,500	0	0
AFFILIATED MANAGERS GROUP	COM	008252108	256	1,600	SH		SOLE		1,600	0	0
AGROFRESH SOLUTIONS INC	COM	00856G109	209	33,008	SH		SOLE		33,008	0	0
AIR METHODS CORP	COM PAR $.06	009128307	1,035	24,690	SH		SOLE		15,500	0	9,190
AIR PRODS & CHEMS INC	COM	009158106	690	5,300	SH		SOLE		5,300	0	0
ALEXANDERS INC	COM	014752109	7,257	18,892	SH		SOLE		7,900	0	10,992
ALEXANDRIA REAL ESTATE EQ INC	COM	015271109	5,207	57,628	SH		SOLE		51,528	0	6,100
ALLERGAN PLC	SHS	G0177J108	1,542	4,933	SH		SOLE		1,883	0	3,050
ALLSCRIPT MISYS HEALTCAR SOLNS	COM	01988P108	231	15,000	SH		SOLE		15,000	0	0
ALLY FINANCIAL INC	COM	02005N100	308	16,500	SH		SOLE		16,500	0	0
ALPHABET INC	CAP STK CL C	02079K107	8,469	11,160	SH		SOLE		9,624	0	1,536
ALPHABET INC	CAP STK CL A	02079K305	8,663	11,135	SH		SOLE		9,600	0	1,535
ALPINE GLOBAL PREMIER PPTYS FD	COM SBI	02083A103	4,780	828,464	SH		SOLE		0	0	828,464
ALPINE TOTAL DYNAMIC DIVID FD	COM SH BEN INT N	021060207	4,096	533,269	SH		SOLE		0	0	533,269
ALTISOURCE RESIDENTI	CL B	02153W100	321	25,897	SH		SOLE		25,897	0	0
AMBARELLA INC	SHS	G037AX101	1,193	21,400	SH		SOLE		21,400	0	0
AMERCO	COM	023586100	6,470	16,610	SH		SOLE		11,700	0	4,910
AMERICAN ASSETS TRUST INC	COM	024013104	1,001	26,114	SH		SOLE		26,114	0	0
AMERICAN CAMPUS COMMUNITIES	COM	024835100	620	15,000	SH		SOLE		15,000	0	0
AMERICAN CAP LTD	COM	02503Y103	193	14,000	SH		SOLE		14,000	0	0
AMERICAN ELEC PWR INC	COM	025537101	600	10,300	SH		SOLE		0	0	10,300
AMERICAN TOWER CORP	COM	03027X100	20,490	211,347	SH		SOLE		211,347	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	8,347	139,700	SH		SOLE		139,700	0	0
AMERIPRISE FINL INC	COM	03076C106	1,437	13,500	SH		SOLE		11,500	0	2,000
AMERISOURCEBERGEN CORP	COM	03073E105	933	9,000	SH		SOLE		9,000	0	0
AMETEK INC NEW	COM	031100100	407	7,600	SH		SOLE		0	0	7,600
AMGEN INC	COM	031162100	3,750	23,100	SH		SOLE		15,700	0	7,400
ANHEUSER-BUSCH INBEV	SPONSORED ADR	03524A108	19,000	152,000	SH		SOLE		152,000	0	0
ANSYS INC	COM	03662Q105	874	9,445	SH		SOLE		9,445	0	0
ANTHEM INC	COM	036752103	5,187	37,200	SH		SOLE		34,300	0	2,900
APACHE CORP	COM	037411105	667	15,000	SH		SOLE		15,000	0	0
APOLLO COML REAL EST FIN INC	COM	03762U105	817	47,444	SH		SOLE		47,444	0	0
APOLLO GLOBAL MANAGEMENT	CL A SHS	037612306	190	12,500	SH		SOLE		12,500	0	0
APPLE INC	COM	037833100	35,759	339,717	SH		SOLE		336,507	0	3,210
APPLIED MATLS INC	COM	038222105	7,347	393,500	SH		SOLE		393,500	0	0
ARES MANAGEMENT LP	COM UNIT RP IN	04014Y101	372	28,799	SH		SOLE		28,799	0	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	7,045	207,500	SH		SOLE		207,500	0	0
AT&T INC	COM	00206R102	5,127	148,992	SH		SOLE		137,300	0	11,692
ATLANTIC COAST FED CORP	COM	048426100	290	49,536	SH		SOLE		49,536	0	0
ATLAS FINANCIAL HOLDINGS INC	SHS NEW	G06207115	219	11,000	SH		SOLE		11,000	0	0
AVAGO TECHNOLOGIES LTD	SHS	Y0486S104	18,565	127,900	SH		SOLE		125,000	0	2,900
AVALONBAY CMNTYS INC	COM	053484101	14,017	76,125	SH		SOLE		76,125	0	0
BANC OF CALIFORNIA INC.	COM	05990k106	349	23,895	SH		SOLE		23,895	0	0
BANK COMM HLDGS	COM	06424J103	283	42,381	SH		SOLE		42,381	0	0
BANK OF AMERICA CORPORATION	COM	060505104	25,831	1,534,790	SH		SOLE		1,410,715	0	124,075
BANK OF NEW YORK MELLON CORP	COM	064058100	1,660	40,266	SH		SOLE		0	0	40,266
BANK OF THE OZARKS	COM	063904106	1,622	32,800	SH		SOLE		25,000	0	7,800
BANKWELL FINANCIAL GROUP INC	COM	06654A103	411	20,723	SH		SOLE		20,723	0	0
BECTON DICKINSON & CO	COM	075887109	4,388	28,478	SH		SOLE		22,500	0	5,978
BGC PARTNERS INC	CL A	05541T101	245	25,000	SH		SOLE		25,000	0	0
BIOCRYST PHARMACEUTICALS INC	COM	09058V103	103	10,000	SH		SOLE		10,000	0	0
BLACKSTONE GROUP L P	COM UNIT LTD	09253U108	322	11,000	SH		SOLE		11,000	0	0
BLACKSTONE MORTGAGE TRUST IN	COM CL A	09257W100	252	9,400	SH		SOLE		9,400	0	0
BOFI HOLDING INC	COM	05566U108	674	32,000	SH		SOLE		32,000	0	0
BOSTON PROPERTIES INC	COM	101121101	16,409	128,661	SH		SOLE		123,511	0	5,150
BP PLC	SPONSORED ADR	055622104	12,754	408,000	SH		SOLE		408,000	0	0
BRISTOW GROUP INC	COM	110394103	896	34,600	SH		SOLE		25,000	0	9,600
BROOKDALE SR LIVING INC	COM	112463104	4,615	250,000	SH		SOLE		250,000	0	0
BRYN MAWR BANK CORP	COM	117665109	215	7,500	SH		SOLE		7,500	0	0
BT GROUP PLC	ADR	05577E101	21,441	619,500	SH		SOLE		619,500	0	0
C1 FINANCIAL INC	COM	12591N109	281	11,595	SH		SOLE		11,595	0	0
CALATLANTIC GROUP INC	COM	128195104	6,183	163,055	SH		SOLE		163,055	0	0
CALIFORNIA UTD BK ENCINO CA	COM	126534106	799	31,500	SH		SOLE		31,500	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	1,666	21,700	SH		SOLE		21,700	0	0
CANADIAN PACIFIC RAILWAY LTD	COM	13645T100	16,639	130,400	SH		SOLE		130,400	0	0
CAPITAL ONE FINL CORP	COM	14040H105	666	9,228	SH		SOLE		1,000	0	8,228
CARDTRONICS INC	COM	14161H108	647	19,218	SH		SOLE		19,218	0	0
CARE CAPITAL PROPERTIES INC	COM	141624106	914	29,903	SH		SOLE		29,903	0	0
CARLISLE COS INC	COM	142339100	233	2,628	SH		SOLE		0	0	2,628
CARNIVAL CORP	PAIRED CTF	143658300	11,523	211,500	SH		SOLE		211,500	0	0
CAROLINA TRUST BANK	COM	144200102	555	89,583	SH		SOLE		89,583	0	0
CARTER'S INC	COM	146229109	6,722	75,500	SH		SOLE		75,500	0	0
CATHAY GENERAL BANCORP	COM	149150104	2,669	85,200	SH		SOLE		35,000	0	50,200
CBL & ASSOC PPTYS INC	COM	124830100	4,060	328,191	SH		SOLE		328,191	0	0
CBS CORP NEW	CL B	124857202	10,915	231,600	SH		SOLE		231,600	0	0
CENTERSTATE BANKS INC	COM	15201P109	196	12,493	SH		SOLE		12,493	0	0
CENTRAL FED CORP	COM NEW	15346Q202	126	95,276	SH		SOLE		95,276	0	0
CERNER CORP	COM	156782104	2,046	34,000	SH		SOLE		34,000	0	0
CHART INDUSTRIES INC	COM PAR $0.01	16115Q308	251	14,000	SH		SOLE		14,000	0	0
CHATHAM LODGING TR	COM	16208T102	775	37,842	SH		SOLE		37,842	0	0
CHESAPEAKE LODGING TR	SH BEN INT	165240102	998	39,658	SH		SOLE		39,658	0	0
CHEVRON CORP NEW	COM	166764100	7,231	80,386	SH		SOLE		77,800	0	2,586
CIA SANEAMENTO BASICO DE	SPONSORED ADR	20441A102	1,573	341,900	SH		SOLE		341,900	0	0
CINEMARK HOLDINGS INC	COM	17243V102	2,273	68,000	SH		SOLE		68,000	0	0
CISCO SYS INC	COM	17275R102	13,523	498,000	SH		SOLE		498,000	0	0
CIT GROUP INC	COM NEW	125581801	238	6,000	SH		SOLE		6,000	0	0
CITIGROUP INC	COM NEW	172967424	12,593	243,337	SH		SOLE		243,337	0	0
CITIZENS FINANCIAL GROUP	COM	174610105	16,551	631,967	SH		SOLE		631,967	0	0
CITIZENS FIRST CORP	COM	17462Q107	224	16,434	SH		SOLE		16,434	0	0
CLOVIS ONCOLOGY INC	COM	189464100	210	6,000	SH		SOLE		6,000	0	0
CME GROUP INC	COM	12572Q105	7,565	83,500	SH		SOLE		78,000	0	5,500
CMS ENERGY CORP	COM	125896100	19,909	551,800	SH		SOLE		541,500	0	10,300
CNA FINANCIAL CORP	COM	126117100	211	6,000	SH		SOLE		6,000	0	0
COLGATE PALMOLIVE CO	COM	194162103	7,102	106,600	SH		SOLE		106,600	0	0
COLONY CAPITAL INC	CL A	19624R106	24,231	1,243,907	SH		SOLE		1,216,207	0	27,700
COMCAST CORP NEW	CL A	20030N101	10,804	191,461	SH		SOLE		191,461	0	0
COMERICA INC	COM	200340107	263	6,295	SH		SOLE		6,295	0	0
CONIFER HOLDINGS INC	COM	20731J102	185	20,000	SH		SOLE		20,000	0	0
CONSOLIDATED EDISON INC	COM	209115104	862	13,410	SH		SOLE		0	0	13,410
CORESITE REALTY CORP	COM	21870Q105	2,189	38,601	SH		SOLE		38,601	0	0
CORRECTIONS CORP OF AMERICA	COM NEW	22025Y407	1,984	74,900	SH		SOLE		74,900	0	0
COUSINS PPTYS INC	COM	222795106	350	37,087	SH		SOLE		37,087	0	0
COWEN GROUP INC NEW	CL A	223622101	91	23,823	SH		SOLE		23,823	0	0
CRACKER BARREL OLD COUNTRY	COM	22410J106	2,283	18,000	SH		SOLE		15,000	0	3,000
CROWN CASTLE INTL CORP	COM	22822V101	4,253	49,200	SH		SOLE		49,200	0	0
CSX CORP	COM	126408103	908	35,000	SH		SOLE		35,000	0	0
CULLEN FROST BANKERS INC	COM	229899109	900	15,000	SH		SOLE		9,000	0	6,000
CVS CAREMARK CORPORATION	COM	126650100	26,359	269,606	SH		SOLE		269,606	0	0
CYRUSONE INC	COM	23283R100	680	18,169	SH		SOLE		18,169	0	0
D R HORTON INC	COM	23331A109	2,605	81,326	SH		SOLE		55,000	0	26,326
DAVITA INC	COM	23918K108	530	7,600	SH		SOLE		7,600	0	0
DDR CORP	COM	23317H102	422	25,075	SH		SOLE		25,075	0	0
DELPHI AUTOMOTIVE PLC	SHS	G27823106	7,081	82,600	SH		SOLE		82,600	0	0
DELUXE CORP	COM	248019101	4,396	80,600	SH		SOLE		65,500	0	15,100
DESCARTES SYSTEMS GRP/THE	COM	249906108	219	10,916	SH		SOLE		10,916	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	676	70,000	SH		SOLE		70,000	0	0
DIGITAL REALTY TRUST INC	COM	253868103	13,809	182,610	SH		SOLE		170,100	0	12,510
DIME COMMUNITY BANCSHARES	COM	253922108	192	11,000	SH		SOLE		11,000	0	0
DIREXION SHS ETF TR	DLY FIN BULL NEW	25459Y694	596	20,500	SH		SOLE		20,500	0	0
DISCOVER FINL SVCS COM	COM	254709108	16,140	301,000	SH		SOLE		301,000	0	0
DISH NETWORK CORP.	CL A	25470M109	2,762	48,300	SH		SOLE		48,300	0	0
DOLLAR GENERAL CORP	COM	256677105	19,261	268,000	SH		SOLE		268,000	0	0
DOMINION RES INC VA NEW	COM	25746U109	3,024	44,700	SH		SOLE		44,700	0	0
DOUGLAS EMMETT INC	COM	25960P109	1,855	59,509	SH		SOLE		59,509	0	0
DTE ENERGY COMPANY	COM	233331107	2,654	33,100	SH		SOLE		33,100	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	2,631	39,500	SH		SOLE		30,000	0	9,500
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,358	19,019	SH		SOLE		0	0	19,019
DUKE REALTY CORP	COM NEW	264411505	1,177	56,000	SH		SOLE		56,000	0	0
DUPONT FABROS TECHNOLOGY INC	COM	26613Q106	1,315	41,352	SH		SOLE		41,352	0	0
DYCOM INDUSTRIES INC	COM	267475101	541	7,732	SH		SOLE		7,732	0	0
E HOUSE CHINA HLDGS LTD	ADR	26852W103	1,333	212,000	SH		SOLE		212,000	0	0
E M C CORP MASS	COM	268648102	20,089	782,300	SH		SOLE		782,300	0	0
EAGLE PHARMACEUTICALS INC	COM	269796108	621	7,000	SH		SOLE		7,000	0	0
EAST WEST BANCORP INC	COM	27579R104	686	16,500	SH		SOLE		16,500	0	0
EASTMAN CHEMICAL CO	COM	277432100	2,660	39,400	SH		SOLE		25,000	0	14,400
ECOLAB INC	COM	278865100	652	5,700	SH		SOLE		0	0	5,700
EDWARDS LIFESCIENCES CORP	COM	28176E108	1,604	20,312	SH		SOLE		20,312	0	0
EMERGENT CAPITAL INC	COM	29102N105	230	62,337	SH		SOLE		62,337	0	0
EMPIRE STATE REALTY TRUST IN	CL A	292104106	821	45,455	SH		SOLE		45,455	0	0
ENBRIDGE INC	COM	29250N105	8,666	261,100	SH		SOLE		261,100	0	0
ENBRIDGE INC	COM	29250N105	3,910	117,600	SH		SOLE		117,600	0	0
ENDURANCE SPECIALTY HOLDINGS	SHS	G30397106	3,035	47,436	SH		SOLE		47,436	0	0
ENERGIZER HLDGS INC	COM	29272W109	5,286	155,200	SH		SOLE		155,200	0	0
ENERGY TRANSFER PARTNERS LP	UNIT LTD PARTN	29273R109	7,218	214,000	SH		SOLE		214,000	0	0
ENTERPRISE FINANCIAL SERVICE	COM	293712105	281	9,919	SH		SOLE		9,919	0	0
EOG RESOURCES INC	COM	26875P101	7,150	101,000	SH		SOLE		101,000	0	0
EPR PROPERTIES	COM SH BEN INT	26884U109	527	9,012	SH		SOLE		9,012	0	0
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	1,927	28,900	SH		SOLE		28,900	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	5,733	70,260	SH		SOLE		70,260	0	0
ESSENT GROUP LTD	COM	G3198U102	286	13,086	SH		SOLE		13,086	0	0
ESSEX PPTY TR INC	COM	297178105	5,761	24,065	SH		SOLE		24,065	0	0
EVERSOURCE ENERGY	COM	30040W108	2,349	46,000	SH		SOLE		46,000	0	0
EXAMWORKS GROUP INC	COM	30066A105	687	25,824	SH		SOLE		25,824	0	0
EXELIXIS INC	COM	30161Q104	85	15,000	SH		SOLE		15,000	0	0
EXELON CORP	COM	30161N101	2,380	85,700	SH		SOLE		85,700	0	0
EXPEDIA INC DEL	COM NEW	30212P303	224	1,800	SH		SOLE		0	0	1,800
EXPRESS SCRIPTS INC	COM	30219G108	7,127	81,535	SH		SOLE		52,084	0	29,451
EXTENDED STAY AMERICA INC	UNIT 99/99/9999B	30224P200	5,047	317,448	SH		SOLE		317,448	0	0
EXTRA SPACE STORAGE INC	COM	30225T102	1,411	16,000	SH		SOLE		16,000	0	0
EXXON MOBIL CORP	COM	30231G102	9,020	115,711	SH		SOLE		102,000	0	13,711
FAIR ISAAC CORP	COM	303250104	1,200	12,741	SH		SOLE		12,741	0	0
FCB FINANCIAL HOLDINGS INC	CL A	30255G103	344	9,619	SH		SOLE		9,619	0	0
FEDERAL REALTY INVT TR	SH BEN INT NEW	313747206	1,768	12,100	SH		SOLE		12,100	0	0
FEDEX CORP	COM	31428X106	17,916	120,250	SH		SOLE		108,800	0	11,450
FIDELITY NATIONAL FINANCIAL IN	FNF GROUP COM	31620R303	277	8,000	SH		SOLE		8,000	0	0
FIDELITY NATL INFORMATION SVCS	COM	31620M106	217	3,576	SH		SOLE		3,576	0	0
FIFTH STREET ASSET MGMT	CL A COM	31679P109	88	26,937	SH		SOLE		26,937	0	0
FIRST BANCORP P R	COM NEW	318672706	130	40,000	SH		SOLE		40,000	0	0
FIRST BUS FINL SVCS INC WIS	COM	319390100	350	13,994	SH		SOLE		13,994	0	0
FIRST INTERNET BANCORP	COM	320557101	316	11,000	SH		SOLE		11,000	0	0
FIRSTENERGY CORP	COM	337932107	387	12,200	SH		SOLE		0	0	12,200
FISERV INC	COM	337738108	4,032	44,080	SH		SOLE		39,000	0	5,080
FIVE OAKS INVESTMENT CORP	COM	33830W106	131	24,000	SH		SOLE		24,000	0	0
FLIR SYS INC	COM	302445101	2,066	73,600	SH		SOLE		73,600	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	13,987	992,670	SH		SOLE		992,670	0	0
FOREST CITY ENTERPRISES INC	CL A	345550107	586	26,700	SH		SOLE		26,700	0	0
FORTRESS INVESTMENT GROUP LLC	CL A	34958B106	1,315	258,300	SH		SOLE		258,300	0	0
G & K SERVICES INC	CL A	361268105	2,459	39,100	SH		SOLE		31,000	0	8,100
GARMIN LTD	SHS	H2906T109	587	15,800	SH		SOLE		15,800	0	0
GATX CORP	COM	361448103	1,889	44,400	SH		SOLE		23,500	0	20,900
GENERAC HOLDINGS INC	COM	368736104	1,858	62,400	SH		SOLE		62,400	0	0
GENERAL ELECTRIC CO	COM	369604103	661	21,216	SH		SOLE		0	0	21,216
GENERAL GROWTH PPTYS INC	COM	370023103	2,171	79,800	SH		SOLE		79,800	0	0
GENESEE & WYOMING INC	CL A	371559105	2,652	49,400	SH		SOLE		49,400	0	0
GEO GROUP INC	COM	36162J106	16,776	580,300	SH		SOLE		580,300	0	0
GILEAD SCIENCES INC	COM	375558103	7,205	71,200	SH		SOLE		64,800	0	6,400
GLACIER BANCORP INC	COM	37637Q105	698	26,300	SH		SOLE		0	0	26,300
GRANA Y MONTERO SA	SPONSORED ADR	38500P208	539	183,371	SH		SOLE		183,371	0	0
GREEN BANCORP INC	COM	39260X100	105	10,000	SH		SOLE		10,000	0	0
GREENBRIER COMPANIES INC	COM	393657101	923	28,300	SH		SOLE		28,300	0	0
GREENLIGHT CAPITAL RE LTD	CLASS A	G4095J109	319	17,025	SH		SOLE		17,025	0	0
GRUBHUB INC	COM	400110102	378	15,615	SH		SOLE		15,615	0	0
GRUPO AVAL ACCIONES Y VALORE	SPONSORED ADS	40053W101	163	25,000	SH		SOLE		25,000	0	0
HARRIS CORP DEL	COM	413875105	18,762	215,900	SH		SOLE		196,600	0	19,300
HARTFORD FINL SVCS GROUP INC	COM	416515104	1,478	34,000	SH		SOLE		34,000	0	0
HAWAIIAN ELEC INDUSTRIES	COM	419870100	909	31,400	SH		SOLE		2,000	0	29,400
HCA HOLDINGS INC	COM	40412C101	8,237	121,800	SH		SOLE		121,800	0	0
HCP INC	COM	40414L109	3,131	81,887	SH		SOLE		81,887	0	0
HEALTH INSURANCE INNOVATIONS	COM CL A	42225K106	395	58,945	SH		SOLE		58,945	0	0
HEICO CORP	CL A	422806208	229	4,652	SH		SOLE		4,652	0	0
HENRY SCHEIN INC	COM	806407102	4,071	25,735	SH		SOLE		17,500	0	8,235
HERON THERAPEUTICS INC	COM	427746102	267	10,000	SH		SOLE		10,000	0	0
HILTON WORLDWIDE HOLDINGS IN	COM	43300A104	6,187	289,091	SH		SOLE		289,091	0	0
HOME DEPOT INC	COM	437076102	2,552	19,300	SH		SOLE		13,000	0	6,300
HORMEL FOODS CORP	COM	440452100	269	3,400	SH		SOLE		0	0	3,400
HOSPITALITY PPTYS TR	COM SH BEN INT	44106M102	418	16,000	SH		SOLE		16,000	0	0
HOST HOTELS & RESORTS INC COM	COM	44107P104	5,749	374,800	SH		SOLE		358,800	0	16,000
HOVNANIAN ENTERPRISES INC	CL A	442487203	18	10,000	SH		SOLE		0	0	10,000
HOWARD HUGHES CORP	COM	44267D107	5,695	50,330	SH		SOLE		50,330	0	0
HUDSON PACIFIC PROPERTIES IN	COM	444097109	468	16,614	SH		SOLE		16,614	0	0
HUMANA INC	COM	444859102	12,978	72,700	SH		SOLE		72,700	0	0
ILLUMINA INC	COM	452327109	6,238	32,500	SH		SOLE		32,500	0	0
INC RESEARCH HOLDINGS INC	CL A	45329R109	442	9,110	SH		SOLE		9,110	0	0
INGERSOLL-RAND PLC	SHS	G47791101	885	16,000	SH		SOLE		16,000	0	0
INTEL CORP COM	COM	458140100	10,286	298,584	SH		SOLE		272,000	0	26,584
INTERNATIONAL BUSINESS MACHS	COM	459200101	2,648	19,240	SH		SOLE		6,600	0	12,640
INTL FLAVORS & FRAGRANCES	COM	459506101	3,058	25,556	SH		SOLE		14,400	0	11,156
INTRA-CELLULAR THERAPIES INC	COM	46116X101	2,794	51,944	SH		SOLE		34,444	0	17,500
INTUITIVE SURGICAL INC	COM NEW	46120E602	3,796	6,950	SH		SOLE		5,500	0	1,450
INVENSENSE INC	COM	46123D205	176	17,174	SH		SOLE		17,174	0	0
INVESCO LTD	SHS	G491BT108	10,044	300,000	SH		SOLE		300,000	0	0
INVESTAR HOLDING CORP	COM	46134L105	595	33,818	SH		SOLE		33,818	0	0
IONIS PHARMACEUTICALS INC	COM	462222100	619	10,000	SH		SOLE		10,000	0	0
IPG PHOTONICS CORP	COM	44980X109	446	5,000	SH		SOLE		5,000	0	0
ITC HLDGS CORP	COM	465685105	1,574	40,100	SH		SOLE		34,400	0	5,700
JARDEN CORP	COM	471109108	1,230	21,525	SH		SOLE		16,575	0	4,950
JAZZ PHARMACEUTICALS PLC	SHS USD	G50871105	4,381	31,170	SH		SOLE		23,300	0	7,870
JOHNSON & JOHNSON	COM	478160104	15,046	146,479	SH		SOLE		43,030	0	103,449
JPMORGAN CHASE & CO	COM	46625H100	5,634	85,327	SH		SOLE		61,000	0	24,327
JUNIPER NETWORKS INC	COM	48203R104	428	15,500	SH		SOLE		15,500	0	0
JUNO THERAPEUTICS INC	COM	48205A109	572	13,000	SH		SOLE		13,000	0	0
JUST ENERGY GROUP INC	COM	48213W101	75	10,500	SH		SOLE		0	0	10,500
KANSAS CITY SOUTHERN	COM NEW	485170302	13,605	182,200	SH		SOLE		182,200	0	0
KAR AUCTION SERVICES INC	COM	48238T109	6,665	180,000	SH		SOLE		180,000	0	0
KB HOME	COM	48666K109	2,466	200,000	SH		SOLE		200,000	0	0
KENNEDY-WILSON HLDGS INC	COM	489398107	758	31,461	SH		SOLE		31,461	0	0
KILROY RLTY CORP	COM	49427F108	11,050	174,623	SH		SOLE		174,623	0	0
KIMCO REALTY CORP	COM	49446R109	1,347	50,900	SH		SOLE		50,900	0	0
KITE PHARMA INC	COM	49803L109	924	15,000	SH		SOLE		15,000	0	0
KKR & CO L P DEL	COM UNITS	48248M102	279	17,900	SH		SOLE		17,900	0	0
KNIGHT TRANSPORTATION INC	COM	499064103	385	15,869	SH		SOLE		15,869	0	0
KRAFT HEINZ CO/THE	COM	500754106	6,454	88,700	SH		SOLE		85,500	0	3,200
LA QUINTA HOLDINGS INC	COM	50420D108	2,740	201,316	SH		SOLE		201,316	0	0
LADDER CAPITAL CORP	CL A	505743104	199	16,000	SH		SOLE		16,000	0	0
LASALLE HOTEL PPTYS	COM SH BEN INT	517942108	340	13,500	SH		SOLE		13,500	0	0
LAZARD LTD	SHS A	G54050102	7,517	167,000	SH		SOLE		167,000	0	0
LENNAR CORP	CL A	526057104	23,056	471,400	SH		SOLE		449,200	0	22,200
LENNAR CORP	CL B	526057302	547	13,620	SH		SOLE		13,620	0	0
LGI HOMES INC	COM	50187T106	7,207	296,207	SH		SOLE		269,607	0	26,600
LIBERTY PROPERTY TRUST	SH BEN INT	531172104	736	23,708	SH		SOLE		23,708	0	0
LIBERTY TAX INC	CL A	53128T102	479	20,119	SH		SOLE		20,119	0	0
LIGAND PHARMACEUTICALS INC	COM NEW	53220K504	328	3,025	SH		SOLE		3,025	0	0
LINCOLN ELEC HLDGS INC	COM	533900106	649	12,500	SH		SOLE		5,000	0	7,500
LIVE NATION ENTERTAINMENT IN	COM	538034109	419	17,058	SH		SOLE		17,058	0	0
LOCKHEED MARTIN CORP	COM	539830109	586	2,700	SH		SOLE		200	0	2,500
LOWES COS INC	COM	548661107	684	9,000	SH		SOLE		9,000	0	0
LPL FINANCIAL HOLDINGS	COM	50212V100	208	4,869	SH		SOLE		4,869	0	0
M & T BK CORP	COM	55261F104	9,574	79,005	SH		SOLE		0	0	79,005
MACERICH CO	COM	554382101	2,584	32,028	SH		SOLE		32,028	0	0
MACK CALI RLTY CORP	COM	554489104	350	15,000	SH		SOLE		15,000	0	0
MAGNA INTL INC	COM	559222401	5,828	143,700	SH		SOLE		143,700	0	0
MALLINCKRODT PLC	SHS	G5785G107	783	10,494	SH		SOLE		10,494	0	0
MARATHON PETROLEUM CORP	COM	56585A102	10,575	204,000	SH		SOLE		204,000	0	0
MASTEC INC	COM	576323109	1,947	112,000	SH		SOLE		112,000	0	0
MAXIMUS INC	COM	577933104	3,516	62,500	SH		SOLE		30,000	0	32,500
MCDONALDS CORP	COM	580135101	9,782	82,800	SH		SOLE		82,800	0	0
MCKESSON CORP	COM	58155Q103	20,177	102,300	SH		SOLE		91,900	0	10,400
MEDALLION FINL CORP	COM	583928106	453	64,404	SH		SOLE		43,104	0	21,300
MEDIVATION INC	COM	58501N101	387	8,000	SH		SOLE		8,000	0	0
MEDNAX INC	COM	58502B106	6,550	91,400	SH		SOLE		57,000	0	34,400
MEDTRONIC INC COM	SHS	G5960L103	17,307	225,000	SH		SOLE		221,000	0	4,000
MERCK & CO INC NEW	COM	58933Y105	396	7,500	SH		SOLE		0	0	7,500
META FINANCIAL GROUP INC	COM	59100U108	491	10,694	SH		SOLE		10,694	0	0
MICHAEL KORS HOLDINGS LTD	SHS	G60754101	240	6,000	SH		SOLE		0	0	6,000
MIDDLEBY CORP	COM	596278101	798	7,400	SH		SOLE		5,000	0	2,400
MOBILEYE NV	ORD SHS	N51488117	1,953	46,200	SH		SOLE		38,000	0	8,200
MOELIS & CO	CL A	60786M105	253	8,654	SH		SOLE		8,654	0	0
MONARCH FINANCIAL HOLDINGS INC	COM	60907Q100	292	16,236	SH		SOLE		16,236	0	0
MONDELEZ INTERN	CL A	609207105	16,846	375,700	SH		SOLE		375,700	0	0
MONEYGRAM INTERNATIONAL INC	COM NEW	60935Y208	63	10,000	SH		SOLE		10,000	0	0
MORGAN STANLEY	COM NEW	617446448	254	8,000	SH		SOLE		8,000	0	0
MYLAN NV	SHS EURO	N59465109	8,732	161,500	SH		SOLE		161,500	0	0
NATIONAL RESEARCH CORP	CL B	637372301	380	10,595	SH		SOLE		10,595	0	0
NATUS MEDICAL INC	COM	639050103	206	4,288	SH		SOLE		4,288	0	0
NEW RESIDENTIAL INVESTMENT	COM NEW	64828T201	231	19,000	SH		SOLE		19,000	0	0
NEWLINK GENETICS CORP	COM	651511107	1,456	40,000	SH		SOLE		40,000	0	0
NEWMARKET CORP	COM	651587107	305	800	SH		SOLE		800	0	0
NEXSTAR BROADCASTING GROUP	CL A	65336K103	600	10,222	SH		SOLE		10,222	0	0
NEXTERA ENERGY INC	COM	65339F101	20,829	200,488	SH		SOLE		186,100	0	14,388
NMI HOLDINGS INC	CL A	629209305	284	42,000	SH		SOLE		42,000	0	0
NOKIA CORP	SPONSORED ADR	654902204	270	38,500	SH		SOLE		38,500	0	0
NORTHROP GRUMMAN CORP	COM	666807102	1,776	9,407	SH		SOLE		5,200	0	4,207
NORTHSTAR ASSET MANAGEMEN	COM	66705Y104	1,589	130,872	SH		SOLE		130,872	0	0
NORTHSTAR REALTY EUROPE CORP	COM	66706L101	11,500	973,783	SH		SOLE		956,733	0	17,050
NORTHSTAR REALTY FINANCE	COM	66704R803	19,030	1,117,436	SH		SOLE		1,117,436	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	18,665	216,939	SH		SOLE		213,172	0	3,767
NRG ENERGY INC	COM NEW	629377508	1,514	128,600	SH		SOLE		128,600	0	0
NRG YIELD INC	CL A NEW	62942X306	11,989	861,900	SH		SOLE		861,900	0	0
NRG YIELD INC	CL C	62942X405	8,148	552,000	SH		SOLE		552,000	0	0
O REILLY AUTOMOTIVE INC	COM	67103H107	253	1,000	SH		SOLE		0	0	1,000
OAKTREE CAPITAL GROUP LLC	UNIT CL A	674001201	907	19,000	SH	��	SOLE		19,000	0	0
OCCIDENTAL PETE CORP DEL	COM	674599105	6,910	102,200	SH		SOLE		102,200	0	0
OCH ZIFF CAP MGMT GROUP	CL A	67551U105	976	156,700	SH		SOLE		156,700	0	0
OFG BANCORP	COM	67103X102	73	10,000	SH		SOLE		10,000	0	0
OLD LINE BANCSHARES INC	COM	67984M100	773	44,018	SH		SOLE		44,018	0	0
OM ASSET MANAGEMENT LTD	SHS	G67506108	2,529	165,000	SH		SOLE		165,000	0	0
OMEGA HEALTHCARE INVS INC	COM	681936100	1,064	30,413	SH		SOLE		30,413	0	0
ON ASSIGNMENT INC	COM	682159108	674	15,000	SH		SOLE		15,000	0	0
ORACLE CORP	COM	68389X105	913	25,000	SH		SOLE		25,000	0	0
OWENS REALTY MORTGAGE INC	COM	690828108	201	15,000	SH		SOLE		15,000	0	0
PACIFIC MERCANTILE BANCORP	COM	694552100	97	13,602	SH		SOLE		13,602	0	0
PACIFIC PREMIER BANCORP	COM	69478X105	475	22,364	SH		SOLE		22,364	0	0
PACKAGING CORP OF AMERICA	COM	695156109	6,431	102,000	SH		SOLE		102,000	0	0
PARAMOUNT GROUP INC	COM	69924R108	2,471	136,499	SH		SOLE		136,499	0	0
PATRICK INDUSTRIES INC	COM	703343103	557	12,805	SH		SOLE		12,805	0	0
PATTERN ENERGY GROUP INC	CL A	70338P100	11,779	563,300	SH		SOLE		548,700	0	14,600
PEBBLEBROOK HOTEL TR	COM	70509V100	476	17,000	SH		SOLE		17,000	0	0
PENNYMAC FINANCIAL SERVICE	CL A	70932B101	222	14,448	SH		SOLE		14,448	0	0
PEPSICO INC	COM	713448108	699	7,000	SH		SOLE		7,000	0	0
PERRIGO CO Plc	SHS	G97822103	10,259	70,900	SH		SOLE		70,900	0	0
PFIZER INC	COM	717081103	10,930	338,602	SH		SOLE		315,700	0	22,902
PG&E CORP	COM	69331C108	335	6,300	SH		SOLE		0	0	6,300
PHILLIPS 66	COM	718546104	9,121	111,500	SH		SOLE		111,500	0	0
PINNACLE FOODS INC	COM	72348P104	892	21,000	SH		SOLE		21,000	0	0
PINNACLE WEST CAP CORP	COM	723484101	787	12,200	SH		SOLE		12,200	0	0
PIPER JAFFRAY COS	COM	724078100	242	6,000	SH		SOLE		6,000	0	0
POLARIS INDUSTRIES INC	COM	731068102	945	11,000	SH		SOLE		11,000	0	0
POPEYES LOUISIANA KITCHEN INC	COM	732872106	581	9,939	SH		SOLE		9,939	0	0
PORTOLA PHARMACEUTICALS INC	COM	737010108	309	6,000	SH		SOLE		6,000	0	0
PPG INDS INC	COM	693506107	1,848	18,700	SH		SOLE		18,700	0	0
PRA GROUP INC	COM	69354N106	416	11,978	SH		SOLE		11,978	0	0
PRECISION CASTPARTS CORP	COM	740189105	1,216	5,241	SH		SOLE		3,000	0	2,241
PRICELINE GROUP INC	COM NEW	741503403	306	240	SH		SOLE		0	0	240
PROCTER & GAMBLE CO	COM	742718109	2,949	37,136	SH		SOLE		18,000	0	19,136
PROGRESSIVE WASTE SOLUTIONS	COM	74339G101	2,718	115,400	SH		SOLE		115,400	0	0
PROLOGIS INC	COM	74340W103	4,446	103,592	SH		SOLE		103,592	0	0
PROSPERITY BANCSHARES INC	COM	743606105	1,125	23,500	SH		SOLE		1,500	0	22,000
PROTO LABS INC	COM	743713109	637	10,000	SH		SOLE		10,000	0	0
PROVIDENCE SERVICE CORP	COM	743815102	402	8,577	SH		SOLE		8,577	0	0
PROVIDENT FINL HLDGS INC	COM	743868101	371	19,651	SH		SOLE		19,651	0	0
PRUDENTIAL FINL INC	COM	744320102	1,978	24,300	SH		SOLE		24,300	0	0
PUBLIC STORAGE	COM	74460D109	6,605	26,665	SH		SOLE		26,665	0	0
PULTE GROUP INC	COM	745867101	1,227	68,872	SH		SOLE		55,976	0	12,896
QUALCOMM INC	COM	747525103	1,507	30,150	SH		SOLE		26,000	0	4,150
RADIAN GROUP INC	COM	750236101	187	14,000	SH		SOLE		14,000	0	0
RADNET INC	COM	750491102	113	18,336	SH		SOLE		0	0	18,336
RAYMOND JAMES FINANCIAL INC	COM	754730109	272	4,700	SH		SOLE		4,700	0	0
RAYTHEON CO	COM NEW	755111507	11,546	92,713	SH		SOLE		87,800	0	4,913
REGENERON PHARMACEUTICALS	COM	75886F107	2,063	3,800	SH		SOLE		2,800	0	1,000
REGIONS FINANCIAL CORP NEW	COM	7591EP100	16,703	1,739,853	SH		SOLE		1,739,853	0	0
REPUBLIC FIRST BANCORP INC	COM	760416107	316	73,000	SH		SOLE		73,000	0	0
RESOURCE AMERICA INC	CL A	761195205	123	20,000	SH		SOLE		20,000	0	0
RIVERVIEW BANCORP INC	COM	769397100	52	11,000	SH		SOLE		11,000	0	0
ROCKWELL MEDICAL INC	COM	774374102	154	15,000	SH		SOLE		15,000	0	0
ROGERS CORP	COM	775133101	354	6,864	SH		SOLE		6,864	0	0
ROSS STORES INC	COM	778296103	2,981	55,400	SH		SOLE		55,400	0	0
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	9,160	90,500	SH		SOLE		90,500	0	0
RYDER SYSTEM INC	COM	783549108	6,422	113,000	SH		SOLE		113,000	0	0
RYMAN HOSPITALITY PROPERTIES	COM	78377T107	1,549	30,000	SH		SOLE		30,000	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	958	47,344	SH		SOLE		47,344	0	0
SCANA CORP NEW	COM	80589M102	284	4,700	SH		SOLE		0	0	4,700
SCHLUMBERGER LTD	COM	806857108	879	12,600	SH		SOLE		12,600	0	0
SCORPIO TANKERS INC	SHS	Y7542C106	189	23,601	SH		SOLE		23,601	0	0
SELECT COMFORT CORPORATION	COM	81616X103	277	12,920	SH		SOLE		12,920	0	0
SELECT MEDICAL HOLDINGS CORP	COM	81619Q105	275	23,077	SH		SOLE		23,077	0	0
SEMGROUP CORP	CL A	81663A105	932	32,300	SH		SOLE		32,300	0	0
SHORE BANCSHARES INC	COM	825107105	305	28,000	SH		SOLE		28,000	0	0
SIGNATURE BK NEW YORK N Y	COM	82669G104	844	5,500	SH		SOLE		5,500	0	0
SIMON PPTY GROUP INC NEW	COM	828806109	41,373	212,779	SH		SOLE		208,137	0	4,642
SL GREEN RLTY CORP	COM	78440X101	4,109	36,371	SH		SOLE		36,371	0	0
SNAP ON INC	COM	833034101	29,435	171,700	SH		SOLE		155,500	0	16,200
SOLAR CAPITAL LTD	COM	83413U100	181	11,000	SH		SOLE		11,000	0	0
SOLAREDGE TECHNOLOGIES INC	COM	83417M104	1,220	43,300	SH		SOLE		20,000	0	23,300
SOUTHERN CO	COM	842587107	337	7,200	SH		SOLE		0	0	7,200
SOUTHERN NATL BANCORP OF VA IN	COM	843395104	731	56,000	SH		SOLE		56,000	0	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	402	16,736	SH		SOLE		16,736	0	0
STAG INDUSTRIAL INC	COM	85254J102	822	44,537	SH		SOLE		44,537	0	0
STARWOOD HOTELS&RESORTS WRLDWD	COM	85590A401	5,051	72,900	SH		SOLE		72,900	0	0
STARWOOD PPTY TR INC	COM	85571B105	17,265	839,744	SH		SOLE		804,444	0	35,300
STATE STR CORP	COM	857477103	8,169	123,100	SH		SOLE		112,000	0	0
STEIN MART INC	COM	858375108	807	119,875	SH		SOLE		119,875	0	0
SUMMIT ST BK SANTA ROSA CALIF	COM	866264203	509	37,000	SH		SOLE		37,000	0	0
SVB FINANCIAL GROUP	COM	78486Q101	1,379	11,600	SH		SOLE		11,600	0	0
SYMANTEC CORP	COM	871503108	767	36,500	SH		SOLE		36,500	0	0
SYNCHRONOSS TECHNOLOGIES INC	COM	87157B103	352	10,000	SH		SOLE		10,000	0	0
T-MOBILE US INC	COM	872590104	3,509	89,700	SH		SOLE		89,700	0	0
TAUBMAN CTRS INC	COM	876664103	1,466	19,106	SH		SOLE		19,106	0	0
TAYLOR MORRISON HOME CORP	CL A	87724P106	1,600	100,000	SH		SOLE		100,000	0	0
TE CONNECTIVITY LTD	REG SHS	H84989104	14,451	223,663	SH		SOLE		223,663	0	0
TEAM HEALTH HOLDINGS INC	COM	87817A107	834	19,000	SH		SOLE		19,000	0	0
TELEFLEX INC	COM	879369106	1,538	11,700	SH		SOLE		7,500	0	4,200
TERRAFORM POWER INC	CL A COM	88104R100	4,629	368,000	SH		SOLE		368,000	0	0
TERRENO RLTY CORP	COM	88146M101	1,155	51,058	SH		SOLE		51,058	0	0
TEVA PHARMACEUTICAL INDS LTD	ADR	881624209	21,899	333,627	SH		SOLE		321,300	0	12,327
THERAPEUTICSMD INC	COM	88338N107	166	16,000	SH		SOLE		16,000	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	18,362	129,450	SH		SOLE		125,400	0	4,050
TIFFANY & CO NEW	COM	886547108	1,122	14,710	SH		SOLE		6,000	0	8,710
TJX COS INC NEW	COM	872540109	14,927	210,500	SH		SOLE		210,500	0	0
TOLL BROTHERS INC	COM	889478103	633	19,000	SH		SOLE		10,000	0	9,000
TORTOISE PIPELINE & ENERGY F	COM	89148H108	303	20,876	SH		SOLE		0	0	20,876
TRAVELCENTERS OF AMERICA LLC	COM	894174101	2,094	222,800	SH		SOLE		222,800	0	0
TRI POINTE HOMES LLC	COM	87265H109	5,091	401,800	SH		SOLE		401,800	0	0
TRINITY INDUSTRIES INC	COM	896522109	2,123	88,400	SH		SOLE		63,000	0	25,400
TWO HBRS INVT CORP	COM	90187B101	9,695	1,196,931	SH		SOLE		1,196,931	0	0
UDR INC	COM	902653104	1,386	36,900	SH		SOLE		36,900	0	0
ULTA SALON COSMETICS & FRAGR	COM	90384S303	1,897	10,255	SH		SOLE		10,255	0	0
UNION PAC CORP	COM	907818108	14,936	191,000	SH		SOLE		161,900	0	29,100
UNITED RENTALS INC	COM	911363109	1,465	20,200	SH		SOLE		11,000	0	9,200
UNITED TECHNOLOGIES CORP	COM	913017109	961	10,000	SH		SOLE		10,000	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	7,318	62,206	SH		SOLE		62,206	0	0
UNIVERSAL DISPLAY CORP	COM	91347P105	294	5,400	SH		SOLE		5,400	0	0
UNIVERSAL HEALTH SERVICES	CL B	913903100	8,675	72,600	SH		SOLE		64,200	0	8,400
UNUM GROUP	COM	91529Y106	206	6,200	SH		SOLE		6,200	0	0
URBAN EDGE PROPERTIES	COM	91704F104	643	27,424	SH		SOLE		27,424	0	0
US CONCRETE INC	COM NEW	90333L201	353	6,696	SH		SOLE		6,696	0	0
V F CORP	COM	918204108	1,986	31,900	SH		SOLE		20,900	0	11,000
VALLEY NATL BANCORP	COM	919794107	1,459	148,078	SH		SOLE		108,548	0	39,530
VALSPAR CORP	COM	920355104	2,422	29,200	SH		SOLE		14,000	0	15,200
VENTAS INC	COM	92276F100	4,509	79,912	SH		SOLE		55,712	0	24,200
VEREIT INC	COM	92339V100	717	90,550	SH		SOLE		77,750	0	12,800
VERIZON COMMUNICATIONS INC	COM	92343V104	1,886	40,797	SH		SOLE		34,200	0	6,597
VODAFONE GROUP PLC NEW	SPNSR ADR NO PAR	92857W308	15,686	486,248	SH		SOLE		486,248	0	0
VORNADO RLTY TR	SH BEN INT	929042109	5,208	52,105	SH		SOLE		46,367	0	5,738
WALGREENS BOOTS ALLIANCE INC	COM	931427108	2,946	34,600	SH		SOLE		27,000	0	7,600
WALT DISNEY CO/THE	COM DISNEY	254687106	6,851	65,200	SH		SOLE		65,200	0	0
WASHINGTON TRUST BANCORP	COM	940610108	633	16,020	SH		SOLE		0	0	16,020
WASTE MGMT INC DEL	COM	94106L109	907	17,000	SH		SOLE		17,000	0	0
WCI COMMUNITIES INC	COM PAR $0.01	92923C807	6,122	274,780	SH		SOLE		274,780	0	0
WEINGARTEN RLTY INVS	SH BEN INT	948741103	727	21,030	SH		SOLE		21,030	0	0
WELLS FARGO & CO NEW	COM	949746101	62,007	1,140,674	SH		SOLE		221,619	0	919,055
WELLTOWER INC	COM	95040Q104	1,687	24,803	SH		SOLE		24,803	0	0
WESTERN DIGITAL CORP	COM	958102105	10,479	174,500	SH		SOLE		174,500	0	0
WESTLAKE CHEMICAL CORP	COM	960413102	685	12,610	SH		SOLE		12,610	0	0
WHIRLPOOL CORP	COM	963320106	1,204	8,200	SH		SOLE		2,000	0	6,200
WILLIAM LYON HOMES	CL A NEW	552074700	4,814	291,771	SH		SOLE		291,771	0	0
WILLIAMS-SONOMA INC	COM	969904101	1,425	24,400	SH		SOLE		24,400	0	0
WILLIAMS COS INC	COM	969457100	6,271	244,000	SH		SOLE		244,000	0	0
WISCONSIN ENERGY CORP	COM	92939U106	718	14,000	SH		SOLE		14,000	0	0
WISDOMTREE INVESTMENTS INC	COM	97717P104	264	16,852	SH		SOLE		16,852	0	0
WP GLIMCHER INC	COM	92939N102	2,911	274,383	SH		SOLE		274,383	0	0
WR BERKLEY CORP	COM	084423102	1,095	20,000	SH		SOLE		20,000	0	0
ZEBRA TECHNOLOGIES CORP	CL A	989207105	1,393	20,000	SH		SOLE		20,000	0	0
ZELTIQ AESTHETICS INC	COM	98933Q108	713	25,000	SH		SOLE		25,000	0	0
ZIMMER BIOMET HOLDINGS INC	COM	98956P102	16,353	159,400	SH		SOLE		148,000	0	11,400
ZOETIS INC	CL A	98978V103	332	6,935	SH		SOLE		0	0	6,935