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
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
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