UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2010
Check here if Amendment [  ]; Amendment Number:


This Amendment (Check only one.):
[  ] is a restatement.

[  ] adds new holdings
entries.
Institutional Investment Manager
Filing this Report:

Name:
Pensioenfonds DSM Nederland.
Address:
P.O. Box 6500

6401 JH Heerlen

Netherlands
13F File
Number:
28-10932
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this submission.
Person Signing this Report on Behalf of Reporting Manager:
Name:
Jos Janssen

Title:
Reporting
Department
Control
Phone:
0131455782878

Signature,
Place,Heerlen
January 27, 2009



Report Type (Check only one.):


[ X]        13F HOLDINGS REPORT.

[  ]        13F NOTICE.

[  ]        13F COMBINATION REPORT.
List of Other Managers Reporting for this
Manager:



FORM 13F SUMMARY PAGE  XE "FORM 13F SUMMARY PAGE"
Report Summary:
Number of Other Included
Managers:
0
Form 13F Information Table
Entry Total:
198
Form 13F Information Table
Value Total:
$510,733 (thousands)


List of Other Included
Managers:





No.  13F File Number
Name











                                            
	FORM 13F INFORMATION TABLE  XE "FORM 13F INFORMATION TABLE"


Name of issuer			title of class	ISIN		Value	Number
								in $*1000

3M CO				common stock	US88579Y1010	2.867	34.310	US
ABBOTT LABORATORIES		common stock	US0028241000	5.277	100.172	US
AETNA INC			common stock	US00817Y1082	983	28.000	US
AGILENT TECHNOLOGIES INC	common stock	US00846U1016	1.938	56.349	US
ALCOA INC			common stock	US0138171014	1.631	114.511	US
ALEXANDRIA REAL ESTATE EQUIT	common stock	US0152711091	1.102	16.300	US
ALTRIA GROUP INC		common stock	US02209S1033	2.682	130.715	US
AMB PROPERTY CORP		common stock	US00163T1097	1.082	39.705	US
AMERICAN INTERNATIONAL GROUP	common stock	US0268747849	251	7.340	US
AMERIPRISE FINANCIAL INC-W/I	common stock	US03076C1062	1.008	22.224	US
AMGEN INC			common stock	US0311621009	5.437	90.864	US
ANALOG DEVICES			common stock	US0326541051	1.541	53.484	US
AOL INC-WHEN ISSUED		common stock	US00184X1054	274	10.839	US
APACHE CORP			common stock	US0374111054	3.467	34.157	US
APARTMENT INVT & MGMT CO -A	common stock	US03748R1014	464	25.210	US
APPLIED MATERIALS INC		common stock	US0382221051	2.199	163.283	US
ARCHER-DANIELS-MIDLAND CO	common stock	US0394831020	3.755	129.940	US
AUTOMATIC DATA PROCESSING	common stock	US0530151036	962	21.625	US
AVALONBAY COMMUNITIES INC	common stock	US0534841012	3.482	40.320	US
AVON PRODUCTS INC		common stock	US0543031027	1.794	52.970	US
BANK OF NEW YORK MELLON CORP	common stock	US0640581007	3.674	118.974	US
BAXTER INTERNATIONAL INC	common stock	US0718131099	2.187	37.572	US
BIOGEN IDEC INC			common stock	US09062X1037	2.870	50.000	US
BIOMED REALTY TRUST INC		common stock	US09063H1077	1.025	62.000	US
BOEING CO			common stock	US0970231058	4.472	61.594	US
BOSTON PROPERTIES INC		common stock	US1011211018	4.211	55.817	US
BOSTON SCIENTIFIC CORP		common stock	US1011371077	1.056	146.249	US
BRANDYWINE REALTY TRUST		common stock	US1053682035	316	25.900	US
BRE PROPERTIES  -CL A		common stock	US05564E1064	1.167	32.638	US
BRISTOL-MYERS SQUIBB CO		common stock	US1101221083	2.451	91.781	US
CAMDEN PROPERTY TRUST		common stock	US1331311027	594	14.269	US
CAMPBELL SOUP CO		common stock	US1344291091	4.419	125.000	US
CARDINAL HEALTH INC		common stock	US14149Y1082	601	16.673	US
CAREFUSION CORP			common stock	US14170T1016	220	8.336	US
CARNIVAL CORP			common stock	PA1436583006	2.179	56.042	US
CATERPILLAR INC			common stock	US1491231015	2.273	36.164	US
CBL & ASSOCIATES PROPERTIES	common stock	US1248301004	361	26.362	US
CELANESE CORP-SERIES A		common stock	US1508701034	2.291	71.937	US
CENTRAL EURO DISTRIBUTION CP	common stock	US1534351028	1.639	46.819	US
CENTURYTEL INC			common stock	US1567001060	408	11.499	US
CHEVRON CORP			common stock	US1667641005	7.093	93.542	US
CHUBB CORP			common stock	US1712321017	2.745	52.940	US
CISCO SYSTEMS INC		common stock	US17275R1023	9.768	375.258	US
CLOROX COMPANY			common stock	US1890541097	1.359	21.186	US
COCA-COLA CO/THE		common stock	US1912161007	6.525	118.639	US
COLGATE-PALMOLIVE CO		common stock	US1941621039	2.138	25.071	US
COLONIAL PROPERTIES TRUST	common stock	US1958721060	200	15.500	US
COMCAST CORP-CL A		common stock	US20030N1019	2.857	159.007	US
CONOCOPHILLIPS			common stock	US20825C1045	3.746	73.207	US
CONSOL ENERGY INC		common stock	US20854P1093	2.453	57.499	US
CORNING INC			common stock	US2193501051	2.930	144.980	US
CVS/CAREMARK CORP		common stock	US1266501006	5.943	162.557	US
DCT INDUSTRIAL TRUST INC	common stock	US2331531051	764	146.100	US
DEERE & CO			common stock	US2441991054	1.011	17.000	US
DELL INC			common stock	US24702R1014	1.414	94.166	US
DEVON ENERGY CORPORATION	common stock	US25179M1036	2.577	40.000	US
DIAMOND OFFSHORE DRILLING	common stock	US25271C1027	2.220	25.000	US
DIAMONDROCK HOSPITALITY CO	common stock	US2527843013	729	72.155	US
DIGITAL REALTY TRUST INC	common stock	US2538681030	1.789	33.000	US
DOMINION RESOURCES INC/VA	common stock	US25746U1097	1.465	35.632	US
DOUGLAS EMMETT INC		common stock	US25960P1093	1.019	66.300	US
DR PEPPER SNAPPLE GROUP-W/I	common stock	US26138E1091	1.697	48.254	US
DU PONT (E.I.) DE NEMOURS	common stock	US2635341090	1.542	41.406	US
DUKE ENERGY CORP		common stock	US26441C1053	637	39.015	US
DUKE REALTY CORP		common stock	US2644115055	354	28.524	US
EASTGROUP PROPERTIES		common stock	US2772761019	660	17.500	US
EASTMAN CHEMICAL COMPANY	common stock	US2774321002	2.093	32.868	US
EBAY INC			common stock	US2786421030	1.354	50.225	US
ELI LILLY & CO			common stock	US5324571083	3.916	108.106	US
EMC CORP/MASS			common stock	US2686481027	1.520	84.256	US
EMERSON ELECTRIC CO		common stock	US2910111044	1.762	34.995	US
EQUITY LIFESTYLE PROPERTIES	common stock	US29472R1086	474	8.800	US
EQUITY ONE INC			common stock	US2947521009	425	22.500	US
EQUITY RESIDENTIAL		common stock	US29476L1070	5.331	136.156	US
ESSEX PROPERTY TRUST INC	common stock	US2971781057	900	10.000	US
ESTEE LAUDER COMPANIES-CL A	common stock	US5184391044	3.262	50.281	US
EXTRA SPACE STORAGE INC		common stock	US30225T1025	392	30.900	US
EXXON MOBIL CORP		common stock	US30231G1022	14.319	213.781	US
FAIRPOINT COMMUNICATIONS INC	common stock	US3055601047	0	2.870	US
FEDERAL REALTY INVS TRUST	common stock	US3137472060	3.092	42.468	US
FIRSTENERGY CORP		common stock	US3379321074	1.168	29.882	US
FLUOR CORP			common stock	US3434121022	2.464	52.981	US
FOREST LABORATORIES INC		common stock	US3458381064	1.090	34.758	US
FPL GROUP INC			common stock	US3025711041	2.272	47.000	US
FREEPORT-MCMORAN COPPER-B	common stock	US35671D8570	3.312	39.642	US
GENERAL ELECTRIC CO		common stock	US3696041033	9.137	502.052	US
GENERAL GROWTH PROPERTIES	common stock	US3700211077	488	30.336	US
GENERAL MILLS INC		common stock	US3703341046	3.750	52.968	US
GENZYME CORP - GENL DIVISION	common stock	US3729171047	2.592	50.000	US
GOOGLE INC-CL A			common stock	US38259P5089	5.331	9.400	US
GRAMERCY CAPITAL CORP		common stock	US3848711095	7	2.419	US
HALLIBURTON CO			common stock	US4062161017	1.069	35.476	US
HARLEY-DAVIDSON INC		common stock	US4128221086	789	28.110	US
HCP				common stock	US40414L1098	3.841	116.393	US
HEALTH CARE REIT INC		common stock	US42217K1060	2.508	55.453	US
HEALTHCARE REALTY TRUST INC	common stock	US4219461047	913	39.182	US
HESS CORP			common stock	US42809H1077	5.058	80.866	US
HEWLETT-PACKARD CO		common stock	US4282361033	946	17.800	US
HIGHWOODS PROPERTIES INC	common stock	US4312841087	479	15.102	US
HOME PROPERTIES INC		common stock	US4373061039	1.067	22.800	US
HONEYWELL INTERNATIONAL INC	common stock	US4385161066	1.650	36.452	US
HOSPIRA INC			common stock	US4410601003	485	8.570	US
HOSPITALITY PROPERTIES TRUST	common stock	US44106M1027	1.076	44.934	US
HOST HOTELS & RESORTS INC.	common stock	US44107P1049	2.893	197.498	US
HRPT PROPERTIES TRUST		common stock	US40426W1018	612	78.643	US
INTEL CORP			common stock	US4581401001	6.330	283.987	US
INTERNATIONAL PAPER CO		common stock	US4601461035	592	24.038	US
INTL BUSINESS MACHINES CORP	common stock	US4592001014	7.345	57.274	US
INVESCO LTD			common stock	BMG491BT1088	1.159	52.913	US
JOHNSON & JOHNSON		common stock	US4781601046	9.156	140.429	US
JOY GLOBAL INC			common stock	US4811651086	2.698	47.670	US
JP MORGAN CHASE & CO		common stock	US46625H1005	6.683	149.348	US
KIMBERLY-CLARK CORP		common stock	US4943681035	3.326	52.895	US
KIMCO REALTY CORP		common stock	US49446R1095	1.247	79.731	US
KRAFT FOODS INC-A		common stock	US50075N1046	2.735	90.457	US
KROGER CO			common stock	US5010441013	3.215	148.424	US
LASALLE HOTEL PROPERTIES	common stock	US5179421087	795	34.100	US
LIBERTY PROPERTY TRUST		common stock	US5311721048	1.598	47.096	US
MACERICH CO/THE			common stock	US5543821012	1.372	35.807	US
MACK-CALI REALTY CORP		common stock	US5544891048	984	27.921	US
MARATHON OIL CORP		common stock	US5658491064	683	21.600	US
MCDONALD'S CORP			common stock	US5801351017	6.507	97.533	US
MCGRAW-HILL COMPANIES INC	common stock	US5806451093	2.551	71.545	US
MCKESSON CORP			common stock	US58155Q1031	1.449	22.045	US
MEAD JOHNSON NUTRITION CO-A	common stock	US5828391061	1.062	20.414	US
MEADWESTVACO CORP		common stock	US5833341077	1.467	57.425	US
MEDTRONIC INC			common stock	US5850551061	2.176	48.317	US
MERCK & CO. INC.		common stock	US58933Y1055	7.596	203.381	US
METLIFE INC			common stock	US59156R1086	867	20.000	US
MICROSOFT CORP			common stock	US5949181045	14.131	482.480	US
MONSANTO CO			common stock	US61166W1018	3.525	49.357	US
MONSTER WORLDWIDE INC		common stock	US6117421072	517	31.100	US
NATIONAL OILWELL VARCO INC	common stock	US6370711011	2.667	65.734	US
NATIONAL RETAIL PROPERTIES INC	common stock	US6374171063	1.024	44.836	US
NATIONWIDE HEALTH PPTYS INC	common stock	US6386201049	1.582	45.000	US
NOBLE CORP			common stock	CH0033347318	4.117	98.447	US
NORFOLK SOUTHERN CORP		common stock	US6558441084	2.273	40.678	US
NORTHROP GRUMMAN CORP		common stock	US6668071029	2.227	33.961	US
OMEGA HEALTHCARE INVESTORS	common stock	US6819361006	782	40.100	US
ORACLE CORP			common stock	US68389X1054	8.267	321.546	US
PEPSICO INC			common stock	US7134481081	9.234	139.577	US
PFIZER INC			common stock	US7170811035	8.069	470.493	US
PHILIP MORRIS INTERNATIONAL	common stock	US7181721090	6.825	130.841	US
PNC FINANCIAL SERVICES GROUP	common stock	US6934751057	1.611	26.984	US
PRAXAIR INC			common stock	US74005P1049	2.330	28.069	US
PROCTER & GAMBLE CO		common stock	US7427181091	8.852	139.906	US
PROLOGIS			common stock	US7434101025	1.423	107.772	US
PRUDENTIAL FINANCIAL INC	common stock	US7443201022	2.128	35.178	US
PS BUSINESS PARKS INC/CA	common stock	US69360J1079	503	9.426	US
PUBLIC STORAGE INC		common stock	US74460D1090	5.177	56.274	US
QUALCOMM INC			common stock	US7475251036	5.960	142.039	US
QUANTA SERVICES INC		common stock	US74762E1029	5.748	300.000	US
REALTY INCOME CORP		common stock	US7561091049	1.525	49.696	US
REGENCY CENTERS CORP		common stock	US7588491032	846	22.579	US
SENIOR HOUSING PROP TRUST	common stock	US81721M1099	1.105	49.900	US
SIMON PROPERTY GROUP INC	common stock	US8288061091	8.684	103.508	US
SL GREEN REALTY CORP		common stock	US78440X1019	1.439	25.123	US
SOUTHERN CO			common stock	US8425871071	3.810	114.908	US
SPECTRA ENERGY CORP-W/I		common stock	US8475601097	439	19.507	US
STARBUCKS CORP			common stock	US8552441094	2.340	96.405	US
SUN COMMUNITIES INC		common stock	US8666741041	281	11.153	US
TANGER FACTORY OUTLET CENTER	common stock	US8754651060	1.001	23.200	US
TARGET CORP			common stock	US87612E1064	1.482	28.174	US
TAUBMAN CENTERS INC		common stock	US8766641034	1.166	29.196	US
TELEPHONE & DATA SPECIAL SHS	common stock	US8794338603	93	3.100	US
TELEPHONE AND DATA SYSTEMS	common stock	US8794331004	105	3.100	US
TEREX CORP			common stock	US8807791038	908	40.000	US
TETRA TECHNOLOGIES INC		common stock	US88162F1057	672	55.000	US
TEXAS INSTRUMENTS INC		common stock	US8825081040	2.322	94.889	US
THE ST JOE COMPANY		common stock	US7901481009	353	10.900	US
THE WALT DISNEY CO.		common stock	US2546871060	2.922	83.690	US
TIME WARNER CABLE-W/I		common stock	US88732J2078	1.594	29.905	US
TIME WARNER INC			common stock	US8873173038	3.729	119.239	US
TRANSOCEAN LTD			common stock	CH0048265513	2.160	25.000	US
TRAVELCENTERS OF AMERICA LLC	common stock	US8941741014	19	5.343	US
TRAVELERS COS INC./THE		common stock	US89417E1091	3.102	57.509	US
TYCO INTERNATIONAL LTD		common stock	CH0100383485	1.041	27.212	US
U-STORE-IT TRUST		common stock	US91274F1049	82	11.400	US
UDR				common stock	US9026531049	1.488	84.367	US
UNITED PARCEL SERVICE-CL B	common stock	US9113121068	2.860	44.408	US
UNITED TECHNOLOGIES CORP	common stock	US9130171096	6.467	87.856	US
UNITEDHEALTH GROUP INC		common stock	US91324P1021	2.171	66.456	US
US BANCORP			common stock	US9029733048	2.264	87.497	US
VENTAS INC			common stock	US92276F1003	2.995	63.085	US
VIACOM INC-CLASS B W/I		common stock	US92553P2011	1.019	29.631	US
VORNADO REALTY TRUST		common stock	US9290421091	4.520	59.715	US
W.P. CAREY & CO. LLC		common stock	US92930Y1073	652	22.200	US
WAL-MART STORES INC		common stock	US9311421039	10.614	190.894	US
WALGREEN CO			common stock	US9314221097	1.393	37.568	US
WASHINGTON REAL ESTATE INV	common stock	US9396531017	771	25.236	US
WASTE MANAGEMENT INC		common stock	US94106L1098	1.550	45.028	US
WEINGARTEN REALTY INVESTORS	common stock	US9487411038	805	37.336	US
WELLPOINT INC			common stock	US94973V1070	2.218	34.453	US
WELLS FARGO & COMPANY		common stock	US9497461015	5.689	182.820	US
WESTERN UNION CO-W/I		common stock	US9598021098	2.072	122.172	US
WEYERHAEUSER CO			common stock	US9621661043	2.539	56.092	US
WYNDHAM WORLDWIDE CORP-W/I	common stock	US98310W1080	412	16.000	US
ZIMMER HOLDINGS INC		common stock	US98956P1021	2.368	40.000	US