Pensionfund DSM Netherlands 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
ABBOTT LABORATORIES	COMMON STOCK	002824100	2,699	66,000	SH		SOLE	0	0	0	66,000
ABBVIE INC	COMMON STOCK	00287Y109	3,725	66,000	SH		SOLE	0	0	0	66,000
ACCENTURE PLC-CL A	COMMON STOCK	000000000	4,895	60,550	SH		SOLE	0	0	0	60,550
ACTAVIS PLC	COMMON STOCK	000000000	4,238	19,000	SH		SOLE	0	0	0	19,000
AFLAC INC	COMMON STOCK	001055102	2,496	40,100	SH		SOLE	0	0	0	40,100
AGILENT TECHNOLOGIES INC	COMMON STOCK	00846U101	3,567	62,100	SH		SOLE	0	0	0	62,100
AIRGAS INC	COMMON STOCK	009363102	1,394	12,800	SH		SOLE	0	0	0	12,800
ALEXANDRIA REAL ESTATE EQUIT	COMMON STOCK	015271109	3,556	45,800	SH		SOLE	0	0	0	45,800
ALTRIA GROUP INC	COMMON STOCK	02209S103	3,607	86,000	SH		SOLE	0	0	0	86,000
AMERIPRISE FINANCIAL INC	COMMON STOCK	03076C106	1,764	14,700	SH		SOLE	0	0	0	14,700
AMGEN INC	COMMON STOCK	031162100	7,102	60,000	SH		SOLE	0	0	0	60,000
ANADARKO PETROLEUM CORP	COMMON STOCK	032511107	3,284	30,000	SH		SOLE	0	0	0	30,000
APPLE INC	COMMON STOCK	037833100	9,758	105,000	SH		SOLE	0	0	0	105,000
APPLIED MATERIALS INC	COMMON STOCK	038222105	2,429	107,700	SH		SOLE	0	0	0	107,700
ARCHER-DANIELS-MIDLAND CO	COMMON STOCK	039483102	3,776	85,600	SH		SOLE	0	0	0	85,600
ASSOCIATED ESTATES REALTY CP	COMMON STOCK	045604105	2,820	156,500	SH		SOLE	0	0	0	156,500
AVALONBAY COMMUNITIES INC	COMMON STOCK	053484101	4,197	29,520	SH		SOLE	0	0	0	29,520
BANK OF AMERICA CORP	COMMON STOCK	060505104	2,960	192,600	SH		SOLE	0	0	0	192,600
BANK OF NEW YORK MELLON CORP	COMMON STOCK	064058100	2,946	78,600	SH		SOLE	0	0	0	78,600
BAXTER INTERNATIONAL INC	COMMON STOCK	071813109	2,603	36,000	SH		SOLE	0	0	0	36,000
BIOGEN IDEC INC	COMMON STOCK	09062X103	9,901	31,400	SH		SOLE	0	0	0	31,400
BIOMED REALTY TRUST INC	COMMON STOCK	09063H107	3,416	156,500	SH		SOLE	0	0	0	156,500
BOSTON PROPERTIES INC	COMMON STOCK	101121101	2,413	20,417	SH		SOLE	0	0	0	20,417
BRANDYWINE REALTY TRUST	COMMON STOCK	105368203	1,878	120,400	SH		SOLE	0	0	0	120,400
BRISTOL-MYERS SQUIBB CO	COMMON STOCK	110122108	4,900	101,000	SH		SOLE	0	0	0	101,000
CAMDEN PROPERTY TRUST	COMMON STOCK	133131102	2,936	41,269	SH		SOLE	0	0	0	41,269
CATERPILLAR INC	COMMON STOCK	149123101	4,836	44,500	SH		SOLE	0	0	0	44,500
CELANESE CORP-SERIES A	COMMON STOCK	150870103	3,053	47,500	SH		SOLE	0	0	0	47,500
CF Industries Holdings INC	COMMON STOCK	125269100	3,079	12,800	SH		SOLE	0	0	0	12,800
CHESAPEAKE LODGING TRUST	COMMON STOCK	165240102	2,025	67,000	SH		SOLE	0	0	0	67,000
CISCO SYSTEMS INC	COMMON STOCK	17275R102	4,175	168,000	SH		SOLE	0	0	0	168,000
CITIGROUP INC	COMMON STOCK	172967424	5,831	123,800	SH		SOLE	0	0	0	123,800
COACH INC	COMMON STOCK	189754101	1,491	43,600	SH		SOLE	0	0	0	43,600
COCA-COLA CO/THE	COMMON STOCK	191216100	7,794	184,000	SH		SOLE	0	0	0	184,000
COGNIZANT TECH SOLUTIONS-A	COMMON STOCK	192446102	2,719	55,600	SH		SOLE	0	0	0	55,600
COLGATE-PALMOLIVE CO	COMMON STOCK	194162103	9,886	145,000	SH		SOLE	0	0	0	145,000
COMCAST CORP-CLASS A	COMMON STOCK	20030N101	5,600	105,000	SH		SOLE	0	0	0	105,000
CONOCOPHILLIPS	COMMON STOCK	20825C104	4,115	48,000	SH		SOLE	0	0	0	48,000
CONSOL ENERGY INC	COMMON STOCK	20854P109	1,783	38,700	SH		SOLE	0	0	0	38,700
COSTCO WHOLESALE CORP	COMMON STOCK	22160K105	2,994	26,000	SH		SOLE	0	0	0	26,000
CVS CAREMARK CORP	COMMON STOCK	126650100	4,899	65,000	SH		SOLE	0	0	0	65,000
DCT INDUSTRIAL TRUST INC	COMMON STOCK	233153105	756	92,100	SH		SOLE	0	0	0	92,100
DEERE and CO	COMMON STOCK	244199105	3,079	34,000	SH		SOLE	0	0	0	34,000
DELPHI AUTOMOTIVE PLC	COMMON STOCK	000000000	3,251	47,300	SH		SOLE	0	0	0	47,300
DEVON ENERGY CORPORATION	COMMON STOCK	25179M103	2,104	26,500	SH		SOLE	0	0	0	26,500
DIAMOND OFFSHORE DRILLING	COMMON STOCK	25271C102	819	16,500	SH		SOLE	0	0	0	16,500
DIGITAL REALTY TRUST INC	COMMON STOCK	253868103	4,339	74,400	SH		SOLE	0	0	0	74,400
DOLLAR TREE INC	COMMON STOCK	256746108	2,331	42,800	SH		SOLE	0	0	0	42,800
DOUGLAS EMMETT INC	COMMON STOCK	25960P109	827	29,300	SH		SOLE	0	0	0	29,300
DR PEPPER SNAPPLE GROUP INC	COMMON STOCK	26138E109	1,875	32,000	SH		SOLE	0	0	0	32,000
DU PONT (E.I.) DE NEMOURS	COMMON STOCK	263534109	1,787	27,300	SH		SOLE	0	0	0	27,300
DUKE REALTY CORP	COMMON STOCK	264411505	2,016	111,024	SH		SOLE	0	0	0	111,024
EASTMAN CHEMICAL CO	COMMON STOCK	277432100	4,630	53,000	SH		SOLE	0	0	0	53,000
EBAY INC	COMMON STOCK	278642103	5,226	104,400	SH		SOLE	0	0	0	104,400
ECOLAB INC	COMMON STOCK	278865100	3,229	29,000	SH		SOLE	0	0	0	29,000
ELI LILLY and CO	COMMON STOCK	532457108	4,433	71,300	SH		SOLE	0	0	0	71,300
EMC CORP/MA	COMMON STOCK	268648102	1,467	55,700	SH		SOLE	0	0	0	55,700
EMERSON ELECTRIC CO	COMMON STOCK	291011104	1,533	23,100	SH		SOLE	0	0	0	23,100
EPR PROPERTIES	COMMON STOCK	26884U109	2,782	49,800	SH		SOLE	0	0	0	49,800
EQUITY LIFESTYLE PROPERTIES	COMMON STOCK	29472R108	3,268	74,000	SH		SOLE	0	0	0	74,000
EQUITY RESIDENTIAL	COMMON STOCK	29476L107	3,393	53,856	SH		SOLE	0	0	0	53,856
ESSEX PROPERTY TRUST INC	COMMON STOCK	297178105	925	5,000	SH		SOLE	0	0	0	5,000
ESTEE LAUDER COMPANIES-CL A	COMMON STOCK	518439104	3,193	43,000	SH		SOLE	0	0	0	43,000
EXXON MOBIL CORP	COMMON STOCK	30231G102	11,578	115,000	SH		SOLE	0	0	0	115,000
FEDERAL REALTY INVS TRUST	COMMON STOCK	313747206	1,266	10,468	SH		SOLE	0	0	0	10,468
FMC CORP	COMMON STOCK	302491303	3,563	50,050	SH		SOLE	0	0	0	50,050
FOSSIL GROUP INC	COMMON STOCK	34988V106	2,299	22,000	SH		SOLE	0	0	0	22,000
FRANKLIN RESOURCES INC	COMMON STOCK	354613101	2,950	51,000	SH		SOLE	0	0	0	51,000
GENERAL ELECTRIC CO	COMMON STOCK	369604103	11,879	452,000	SH		SOLE	0	0	0	452,000
GENERAL GROWTH PROPERTIES	COMMON STOCK	370023103	1,543	65,500	SH		SOLE	0	0	0	65,500
GENERAL MILLS INC	COMMON STOCK	370334104	3,678	70,000	SH		SOLE	0	0	0	70,000
GILEAD SCIENCES INC	COMMON STOCK	375558103	3,233	39,000	SH		SOLE	0	0	0	39,000
GOOGLE INC-CL A	COMMON STOCK	38259P508	6,145	10,510	SH		SOLE	0	0	0	10,510
GOOGLE INC-CL C	COMMON STOCK	38259P706	6,046	10,510	SH		SOLE	0	0	0	10,510
HALLIBURTON CO	COMMON STOCK	406216101	4,729	66,600	SH		SOLE	0	0	0	66,600
HARLEY-DAVIDSON INC	COMMON STOCK	412822108	1,299	18,600	SH		SOLE	0	0	0	18,600
HCP INC	COMMON STOCK	40414L109	6,811	164,593	SH		SOLE	0	0	0	164,593
HEALTH CARE REIT INC	COMMON STOCK	42217K106	2,435	38,853	SH		SOLE	0	0	0	38,853
HEALTHCARE REALTY TRUST INC	COMMON STOCK	421946104	704	27,682	SH		SOLE	0	0	0	27,682
HESS CORP	COMMON STOCK	42809H107	3,313	33,500	SH		SOLE	0	0	0	33,500
HIGHWOODS PROPERTIES INC	COMMON STOCK	431284108	1,292	30,802	SH		SOLE	0	0	0	30,802
HOME DEPOT INC	COMMON STOCK	437076102	7,003	86,500	SH		SOLE	0	0	0	86,500
HOME PROPERTIES INC	COMMON STOCK	437306103	3,492	54,600	SH		SOLE	0	0	0	54,600
HOSPITALITY PROPERTIES TRUST	COMMON STOCK	44106M102	3,418	112,434	SH		SOLE	0	0	0	112,434
HOST HOTELS and RESORTS INC	COMMON STOCK	44107P104	3,907	177,498	SH		SOLE	0	0	0	177,498
INLAND REAL ESTATE CORP	COMMON STOCK	457461200	2,259	212,500	SH		SOLE	0	0	0	212,500
INTEL CORP	COMMON STOCK	458140100	5,788	187,300	SH		SOLE	0	0	0	187,300
INTERNATIONAL PAPER CO	COMMON STOCK	460146103	858	17,000	SH		SOLE	0	0	0	17,000
INTL BUSINESS MACHINES CORP	COMMON STOCK	459200101	8,900	49,100	SH		SOLE	0	0	0	49,100
JOHNSON and JOHNSON	COMMON STOCK	478160104	10,880	104,000	SH		SOLE	0	0	0	104,000
JOY GLOBAL INC	COMMON STOCK	481165108	961	15,600	SH		SOLE	0	0	0	15,600
JPMORGAN CHASE and CO	COMMON STOCK	46625H100	7,663	133,000	SH		SOLE	0	0	0	133,000
KELLOGG CO	COMMON STOCK	487836108	2,858	43,500	SH		SOLE	0	0	0	43,500
KIMBERLY-CLARK CORP	COMMON STOCK	494368103	3,893	35,000	SH		SOLE	0	0	0	35,000
KIMCO REALTY CORP	COMMON STOCK	49446R109	2,958	128,731	SH		SOLE	0	0	0	128,731
KRAFT FOODS GROUP INC	COMMON STOCK	50076Q106	3,276	54,650	SH		SOLE	0	0	0	54,650
KROGER CO	COMMON STOCK	501044101	4,844	98,000	SH		SOLE	0	0	0	98,000
LASALLE HOTEL PROPERTIES	COMMON STOCK	517942108	1,839	52,100	SH		SOLE	0	0	0	52,100
LIBERTY PROPERTY TRUST	COMMON STOCK	531172104	2,242	59,096	SH		SOLE	0	0	0	59,096
MACERICH CO/THE	COMMON STOCK	554382101	2,136	32,007	SH		SOLE	0	0	0	32,007
MCCORMICK and CO-NON VTG SHRS	COMMON STOCK	579780206	3,794	53,000	SH		SOLE	0	0	0	53,000
MCDONALD'S CORP	COMMON STOCK	580135101	6,488	64,400	SH		SOLE	0	0	0	64,400
MCGRAW HILL FINANCIAL INC	COMMON STOCK	580645109	3,902	47,000	SH		SOLE	0	0	0	47,000
MCKESSON CORP	COMMON STOCK	58155Q103	2,719	14,600	SH		SOLE	0	0	0	14,600
MEAD JOHNSON NUTRITION CO	COMMON STOCK	582839106	2,516	27,000	SH		SOLE	0	0	0	27,000
MEADWESTVACO CORP	COMMON STOCK	583334107	1,682	38,000	SH		SOLE	0	0	0	38,000
MEDTRONIC INC	COMMON STOCK	585055106	5,203	81,600	SH		SOLE	0	0	0	81,600
MERCK and CO. INC.	COMMON STOCK	58933Y105	10,830	187,200	SH		SOLE	0	0	0	187,200
METLIFE INC	COMMON STOCK	59156R108	4,473	80,500	SH		SOLE	0	0	0	80,500
MICROSOFT CORP	COMMON STOCK	594918104	7,006	168,000	SH		SOLE	0	0	0	168,000
MID-AMERICA APARTMENT COMM	COMMON STOCK	59522J103	3,872	53,000	SH		SOLE	0	0	0	53,000
MONSANTO CO	COMMON STOCK	61166W101	3,992	32,000	SH		SOLE	0	0	0	32,000
MOSAIC CO/THE	COMMON STOCK	61945C103	1,236	25,000	SH		SOLE	0	0	0	25,000
NATIONAL OILWELL VARCO INC	COMMON STOCK	637071101	4,529	55,000	SH		SOLE	0	0	0	55,000
NEWMONT MINING CORP	COMMON STOCK	651639106	923	36,300	SH		SOLE	0	0	0	36,300
NEXTERA ENERGY INC	COMMON STOCK	65339F101	4,919	48,000	SH		SOLE	0	0	0	48,000
NOBLE ENERGY INC	COMMON STOCK	655044105	3,176	41,000	SH		SOLE	0	0	0	41,000
NORFOLK SOUTHERN CORP	COMMON STOCK	655844108	2,782	27,000	SH		SOLE	0	0	0	27,000
NOW INC/DE-W/I	COMMON STOCK	67011P100	498	13,750	SH		SOLE	0	0	0	13,750
NU SKIN ENTERPRISES INC - A	COMMON STOCK	67018T105	2,108	28,500	SH		SOLE	0	0	0	28,500
OCCIDENTAL PETROLEUM CORP	COMMON STOCK	674599105	7,543	73,500	SH		SOLE	0	0	0	73,500
ORACLE CORP	COMMON STOCK	68389X105	8,592	212,000	SH		SOLE	0	0	0	212,000
PEPSICO INC	COMMON STOCK	713448108	8,219	92,000	SH		SOLE	0	0	0	92,000
PETSMART INC	COMMON STOCK	716768106	837	14,000	SH		SOLE	0	0	0	14,000
PFIZER INC	COMMON STOCK	717081103	10,643	358,600	SH		SOLE	0	0	0	358,600
PHILIP MORRIS INTERNATIONAL	COMMON STOCK	718172109	7,251	86,000	SH		SOLE	0	0	0	86,000
PHYSICIANS REALTY TRUST	COMMON STOCK	71943U104	748	52,000	SH		SOLE	0	0	0	52,000
PNC FINANCIAL SERVICES GROUP	COMMON STOCK	693475105	1,941	21,800	SH		SOLE	0	0	0	21,800
PRAXAIR INC	COMMON STOCK	74005P104	3,454	26,000	SH		SOLE	0	0	0	26,000
PRECISION CASTPARTS CORP	COMMON STOCK	740189105	4,568	18,100	SH		SOLE	0	0	0	18,100
PRICELINE.COM INC	COMMON STOCK	741503403	3,296	2,740	SH		SOLE	0	0	0	2,740
PROCTER and GAMBLE CO/THE	COMMON STOCK	742718109	8,252	105,000	SH		SOLE	0	0	0	105,000
PROLOGIS INC	COMMON STOCK	74340W103	552	13,422	SH		SOLE	0	0	0	13,422
PRUDENTIAL FINANCIAL INC	COMMON STOCK	744320102	3,515	39,600	SH		SOLE	0	0	0	39,600
PUBLIC STORAGE	COMMON STOCK	74460D109	4,845	28,274	SH		SOLE	0	0	0	28,274
QUALCOMM INC	COMMON STOCK	747525103	8,870	112,000	SH		SOLE	0	0	0	112,000
QUANTA SERVICES INC	COMMON STOCK	74762E102	6,847	198,000	SH		SOLE	0	0	0	198,000
RETAIL OPPORTUNITY INVESTMEN	COMMON STOCK	76131N101	1,502	95,500	SH		SOLE	0	0	0	95,500
RLJ LODGING TRUST	COMMON STOCK	74965L101	2,837	98,200	SH		SOLE	0	0	0	98,200
ROSS STORES INC	COMMON STOCK	778296103	2,619	39,600	SH		SOLE	0	0	0	39,600
SCHLUMBERGER LTD	COMMON STOCK	806857108	8,021	68,000	SH		SOLE	0	0	0	68,000
SELECT INCOME REIT	COMMON STOCK	81618T100	3,314	111,800	SH		SOLE	0	0	0	111,800
SENIOR HOUSING PROP TRUST	COMMON STOCK	81721M109	2,723	112,100	SH		SOLE	0	0	0	112,100
SIMON PROPERTY GROUP INC	COMMON STOCK	828806109	13,121	78,908	SH		SOLE	0	0	0	78,908
SL GREEN REALTY CORP	COMMON STOCK	78440X101	976	8,923	SH		SOLE	0	0	0	8,923
SOUTHERN CO/THE	COMMON STOCK	842587107	3,449	76,000	SH		SOLE	0	0	0	76,000
ST JUDE MEDICAL INC	COMMON STOCK	790849103	2,064	29,800	SH		SOLE	0	0	0	29,800
STARBUCKS CORP	COMMON STOCK	855244109	4,921	63,600	SH		SOLE	0	0	0	63,600
SUN COMMUNITIES INC	COMMON STOCK	866674104	2,345	47,053	SH		SOLE	0	0	0	47,053
TANGER FACTORY OUTLET CENTER	COMMON STOCK	875465106	2,780	79,500	SH		SOLE	0	0	0	79,500
TARGET CORP	COMMON STOCK	87612E106	2,405	41,500	SH		SOLE	0	0	0	41,500
TIME WARNER CABLE	COMMON STOCK	88732J207	2,902	19,700	SH		SOLE	0	0	0	19,700
TIME WARNER INC	COMMON STOCK	887317303	5,536	78,800	SH		SOLE	0	0	0	78,800
TIME-INC-W/I	COMMON STOCK	000000000	239	9,850	SH		SOLE	0	0	0	9,850
TRAVELERS COS INC/THE	COMMON STOCK	89417E109	3,575	38,000	SH		SOLE	0	0	0	38,000
UDR INC	COMMON STOCK	902653104	2,859	99,867	SH		SOLE	0	0	0	99,867
UNION PACIFIC CORP	COMMON STOCK	907818108	4,728	47,400	SH		SOLE	0	0	0	47,400
UNITED PARCEL SERVICE-CL B	COMMON STOCK	911312106	3,008	29,300	SH		SOLE	0	0	0	29,300
UNITED TECHNOLOGIES CORP	COMMON STOCK	913017109	6,696	58,000	SH		SOLE	0	0	0	58,000
UNITEDHEALTH GROUP INC	COMMON STOCK	91324P102	6,295	77,000	SH		SOLE	0	0	0	77,000
US BANCORP	COMMON STOCK	902973304	2,500	57,700	SH		SOLE	0	0	0	57,700
VENTAS INC	COMMON STOCK	92276F100	5,986	93,382	SH		SOLE	0	0	0	93,382
VF CORP	COMMON STOCK	918204108	2,753	43,700	SH		SOLE	0	0	0	43,700
VIACOM INC-CLASS B	COMMON STOCK	92553P201	1,691	19,500	SH		SOLE	0	0	0	19,500
VORNADO REALTY TRUST	COMMON STOCK	929042109	2,963	27,765	SH		SOLE	0	0	0	27,765
WALT DISNEY CO/THE	COMMON STOCK	254687106	4,733	55,200	SH		SOLE	0	0	0	55,200
WASTE MANAGEMENT INC	COMMON STOCK	94106L109	2,304	51,500	SH		SOLE	0	0	0	51,500
WEINGARTEN REALTY INVESTORS	COMMON STOCK	948741103	1,981	60,336	SH		SOLE	0	0	0	60,336
WELLS FARGO and CO	COMMON STOCK	949746101	12,509	238,000	SH		SOLE	0	0	0	238,000
WISCONSIN ENERGY CORP	COMMON STOCK	976657106	5,912	126,000	SH		SOLE	0	0	0	126,000
ZIMMER HOLDINGS INC	COMMON STOCK	98956P102	2,742	26,400	SH		SOLE	0	0	0	26,400
3M CO	COMMON STOCK	88579Y101	7,557	52,759	SH		SOLE	0	0	0	52,759