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
3M CO COM 88579Y101 2,160 13,999 SH   SOLE   13,999 0 0
ABBVIE INC COM 00287y109 12,260 182,470 SH   SOLE   182,470 0 0
AIR PRODS & CHEMS INC COM 009158106 483 3,529 SH   SOLE   3,529 0 0
ALTRIA GROUP INC COM 02209s103 451 9,220 SH   SOLE   9,220 0 0
AMAZON COM INC COM 023135106 25,966 59,818 SH   SOLE   59,818 0 0
AMERICAN ASSETS TR INC COM 024013104 5,610 143,075 SH   SOLE   143,075 0 0
AMERICAN CAMPUS CMNTYS INC COM 024835100 3,997 106,040 SH   SOLE   106,040 0 0
AMERICAN EXPRESS CO COM 025816109 16,052 206,535 SH   SOLE   206,535 0 0
AMERICAN TOWER CORP NEW COM 03027x100 250 2,685 SH   SOLE   2,685 0 0
AMERICAN TOWER CORP NEW COM 03027x100 10,009 107,284 SH   SOLE   107,284 0 0
APPLE INC COM 037833100 35,701 284,637 SH   SOLE   284,637 0 0
ARMADA HOFFLER PPTYS INC COM 04208T108 3,428 343,100 SH   SOLE   343,100 0 0
AT&T INC COM 00206r102 342 9,635 SH   SOLE   9,635 0 0
AVALONBAY CMNTYS INC COM 053484101 13,943 87,215 SH   SOLE   87,215 0 0
B/E AEROSPACE INC COM 073302101 7,911 144,093 SH   SOLE   144,093 0 0
BANK AMER CORP COM 060505104 3,487 204,850 SH   SOLE   204,850 0 0
BANK AMER CORP *W EXP 01/16/201 060505146 136 22,000 SH   SOLE   22,000 0 0
BB&T CORP COM 054937107 6,219 154,273 SH   SOLE   154,273 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,082 7,950 SH   SOLE   7,950 0 0
BIOGEN INC COM 09062x103 10,221 25,304 SH   SOLE   25,304 0 0
BORGWARNER INC COM 099724106 14,289 251,382 SH   SOLE   251,382 0 0
BOSTON PROPERTIES INC COM 101121101 13,428 110,941 SH   SOLE   110,941 0 0
BP PLC SPONSORED ADR 055622104 781 19,542 SH   SOLE   19,542 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 21,443 322,255 SH   SOLE   322,255 0 0
BROWN FORMAN CORP CL B 115637209 521 5,205 SH   SOLE   5,205 0 0
BRUKER CORP COM 116794108 10,424 510,713 SH   SOLE   510,713 0 0
CAMDEN PPTY TR SH BEN INT 133131102 16,610 223,615 SH   SOLE   223,615 0 0
CAMERON INTERNATIONAL CORP COM 13342B105 13,289 253,754 SH   SOLE   253,754 0 0
CARLISLE COS INC COM 142339100 13,806 137,897 SH   SOLE   137,897 0 0
CELGENE CORP COM 151020104 11,129 96,160 SH   SOLE   96,160 0 0
CERNER CORP COM 156782104 9,599 139,001 SH   SOLE   139,001 0 0
CHEVRON CORP NEW COM 166764100 754 7,812 SH   SOLE   7,812 0 0
CHICAGO BRIDGE & IRON CO N V COM 167250109 355 7,100 SH   SOLE   7,100 0 0
CISCO SYS INC COM 17275R102 201 7,335 SH   SOLE   7,335 0 0
COCA COLA CO COM 191216100 1,735 44,233 SH   SOLE   44,233 0 0
CONAGRA FOODS INC COM 205887102 252 5,760 SH   SOLE   5,760 0 0
CORESITE RLTY CORP COM 21870q105 6,478 142,565 SH   SOLE   142,565 0 0
COSTCO WHSL CORP NEW COM 22160k105 19,473 144,177 SH   SOLE   144,177 0 0
COUSINS PPTYS INC COM 222795106 6,513 627,410 SH   SOLE   627,410 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 11,695 145,637 SH   SOLE   145,637 0 0
CULLEN FROST BANKERS INC COM 229899109 501 6,370 SH   SOLE   6,370 0 0
CUMMINS INC COM 231021106 10,412 79,363 SH   SOLE   79,363 0 0
CVR PARTNERS LP COM 126633106 128 10,150 SH   SOLE   10,150 0 0
CVS HEALTH CORP COM 126650100 10,508 100,193 SH   SOLE   100,193 0 0
CYBERONICS INC COM 23251P102 1,874 31,512 SH   SOLE   31,512 0 0
CYRUSONE INC COM 23283R100 8,049 273,295 SH   SOLE   273,295 0 0
DANAHER CORP DEL COM 235851102 291 3,396 SH   SOLE   3,396 0 0
DIAGEO P L C SPON ADR NEW 25243q205 942 8,120 SH   SOLE   8,120 0 0
DISNEY WALT CO COM DISNEY 254687106 336 2,942 SH   SOLE   2,942 0 0
DOUGLAS EMMETT INC COM 25960P109 7,008 260,121 SH   SOLE   260,121 0 0
DOW CHEM CO COM 260543103 5,288 103,350 SH   SOLE   103,350 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 9,937 155,383 SH   SOLE   155,383 0 0
DUKE REALTY CORP COM NEW 264411505 4,328 233,065 SH   SOLE   233,065 0 0
EASTGROUP PPTY INC COM 277276101 10,223 181,805 SH   SOLE   181,805 0 0
EMERSON ELEC CO COM 291011104 8,572 154,639 SH   SOLE   154,639 0 0
EMPIRE ST RLTY TR INC CL A 292104106 4,747 278,255 SH   SOLE   278,255 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 2,518 84,234 SH   SOLE   84,234 0 0
EOG RES INC COM 26875P101 369 4,213 SH   SOLE   4,213 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 3,999 56,995 SH   SOLE   56,995 0 0
ESSEX PPTY TR INC COM 297178105 12,505 58,849 SH   SOLE   58,849 0 0
EXXON MOBIL CORP COM 30231g102 13,023 156,532 SH   SOLE   156,532 0 0
FACEBOOK INC CL A 30303M102 22,665 264,271 SH   SOLE   264,271 0 0
Falcon Oil & Gas #N/A 306071101 152 1,087,500 SH   SOLE   1,087,500 0 0
GENERAL ELECTRIC CO COM 369604103 9,712 365,536 SH   SOLE   365,536 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 10,053 391,770 SH   SOLE   391,770 0 0
GILEAD SCIENCES INC COM 375558103 24,877 212,479 SH   SOLE   212,479 0 0
GLOBALSTAR INC COM 378973408 274 130,000 SH   SOLE   130,000 0 0
GOOGLE INC CL A 38259p508 4,835 8,953 SH   SOLE   8,953 0 0
GOOGLE INC CL C 38259p706 10,343 19,871 SH   SOLE   19,871 0 0
HALLIBURTON CO COM 406216101 3,174 73,690 SH   SOLE   73,690 0 0
HEALTHCARE RLTY TR COM 421946104 3,295 141,645 SH   SOLE   141,645 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 11,038 430,489 SH   SOLE   430,489 0 0
HERSHEY CO COM 427866108 771 8,685 SH   SOLE   8,685 0 0
HEXCEL CORP NEW COM 428291108 10,315 207,374 SH   SOLE   207,374 0 0
HILTON WORLDWIDE HLDGS INC COM 43300a104 964 35,000 SH   SOLE   35,000 0 0
HOME DEPOT INC COM 437076102 203 1,823 SH   SOLE   1,823 0 0
HOST HOTELS & RESORTS INC COM 44107P104 5,486 276,630 SH   SOLE   276,630 0 0
ISHARES TR MSCI EAFE ETF 464287465 1,905 30,005 SH   SOLE   30,005 0 0
JOHNSON & JOHNSON COM 478160104 21,057 216,060 SH   SOLE   216,060 0 0
JPMORGAN CHASE & CO COM 46625h100 932 13,755 SH   SOLE   13,755 0 0
KEURIG GREEN MTN INC COM 49271m100 7,200 93,954 SH   SOLE   93,954 0 0
KITE RLTY GROUP TR COM NEW 49803t300 10,244 418,640 SH   SOLE   418,640 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540r409 545 4,500 SH   SOLE   4,500 0 0
LAUDER ESTEE COS INC CL A 518439104 11,962 138,035 SH   SOLE   138,035 0 0
LINKEDIN CORP COM CL A 53578a108 5,547 26,843 SH   SOLE   26,843 0 0
MACERICH CO COM 554382101 5,381 72,125 SH   SOLE   72,125 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 1,519 20,700 SH   SOLE   20,700 0 0
MARKEL CORP COM 570535104 200 250 SH   SOLE   250 0 0
MASTERCARD INC CL A 57636q104 421 4,503 SH   SOLE   4,503 0 0
MERCK & CO INC NEW COM 58933y105 5,326 93,551 SH   SOLE   93,551 0 0
MICROSOFT CORP COM 594918104 9,157 207,399 SH   SOLE   207,399 0 0
MONSANTO CO NEW COM 61166w101 18,786 176,247 SH   SOLE   176,247 0 0
NATIONAL OILWELL VARCO INC COM 637071101 1,874 38,806 SH   SOLE   38,806 0 0
Nestle SA Spo[ns ADR #N/A 641069406 6,725 93,202 SH   SOLE   93,202 0 0
NORDIC AMERICAN TANKERS LIMI COM g65773106 747 52,500 SH   SOLE   52,500 0 0
NORTHWESTERN CORP COM NEW 668074305 287 5,880 SH   SOLE   5,880 0 0
NOVARTIS A G SPONSORED ADR 66987v109 10,550 107,280 SH   SOLE   107,280 0 0
NOVO-NORDISK A S ADR 670100205 548 10,000 SH   SOLE   10,000 0 0
NUSTAR ENERGY LP UNIT COM 67058h102 2,617 44,095 SH   SOLE   44,095 0 0
PEPSICO INC COM 713448108 4,633 49,639 SH   SOLE   49,639 0 0
PFIZER INC COM 717081103 989 29,482 SH   SOLE   29,482 0 0
PHILIP MORRIS INTL INC COM 718172109 888 11,075 SH   SOLE   11,075 0 0
PLUM CREEK TIMBER CO INC COM 729251108 337 8,300 SH   SOLE   8,300 0 0
POLARIS INDS INC COM 731068102 11,922 80,491 SH   SOLE   80,491 0 0
PROCTER & GAMBLE CO COM 742718109 14,765 188,717 SH   SOLE   188,717 0 0
PROLOGIS INC COM 74340W103 7,727 208,271 SH   SOLE   208,271 0 0
QUALCOMM INC COM 747525103 14,203 226,773 SH   SOLE   226,773 0 0
Roche Holding AG #N/A 771195104 24,522 699,243 SH   SOLE   699,243 0 0
ROGERS COMMUNICATIONS INC CL B 775109200 510 14,363 SH   SOLE   14,363 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 634 11,125 SH   SOLE   11,125 0 0
SABINE ROYALTY TR UNIT BEN INT 785688102 2,044 54,137 SH   SOLE   54,137 0 0
SCHLUMBERGER LTD COM 806857108 16,252 188,560 SH   SOLE   188,560 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369y407 1,887 24,674 SH   SOLE   24,674 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369y308 1,653 34,726 SH   SOLE   34,726 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369y506 1,279 17,012 SH   SOLE   17,012 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369y605 1,817 74,530 SH   SOLE   74,530 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369y209 2,112 28,394 SH   SOLE   28,394 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369y704 1,695 31,363 SH   SOLE   31,363 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369y100 1,607 33,203 SH   SOLE   33,203 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369y803 1,766 42,659 SH   SOLE   42,659 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369y886 1,494 36,041 SH   SOLE   36,041 0 0
SEMPRA ENERGY COM 816851109 8,073 81,596 SH   SOLE   81,596 0 0
SIMON PPTY GROUP INC NEW COM 828806109 27,447 158,632 SH   SOLE   158,632 0 0
SOUTHERN CO COM 842587107 356 8,500 SH   SOLE   8,500 0 0
SOVRAN SELF STORAGE INC COM 84610H108 16,879 194,210 SH   SOLE   194,210 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 14,302 69,479 SH   SOLE   69,479 0 0
SPIRIT AIRLS INC COM 848577102 7,611 122,566 SH   SOLE   122,566 0 0
STARBUCKS CORP COM 855244109 25,421 474,140 SH   SOLE   474,140 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 317 3,915 SH   SOLE   3,915 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 8,161 100,645 SH   SOLE   100,645 0 0
SUNESIS PHARMACEUTICALS INC COM NEW 867328601 30 10,000 SH   SOLE   10,000 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 5,087 160,460 SH   SOLE   160,460 0 0
TECO ENERGY INC COM 872375100 1,380 78,144 SH   SOLE   78,144 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 16,212 124,935 SH   SOLE   124,935 0 0
TRACTOR SUPPLY CO COM 892356106 9,250 102,851 SH   SOLE   102,851 0 0
TWITTER INC COM 90184L102 9,829 271,382 SH   SOLE   271,382 0 0
UDR INC COM 902653104 9,775 305,171 SH   SOLE   305,171 0 0
UNILEVER PLC SPON ADR NEW 904767704 482 11,210 SH   SOLE   11,210 0 0
UNITED TECHNOLOGIES CORP COM 913017109 1,668 15,040 SH   SOLE   15,040 0 0
URBAN EDGE PPTYS COM 91704F104 3,806 183,080 SH   SOLE   183,080 0 0
VANGUARD INDEX FDS EXTEND MKT ETF 922908652 2,665 28,971 SH   SOLE   28,971 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 784 19,184 SH   SOLE   19,184 0 0
VARIAN MED SYS INC COM 92220p105 556 6,593 SH   SOLE   6,593 0 0
VERIZON COMMUNICATIONS INC COM 92343v104 8,153 174,919 SH   SOLE   174,919 0 0
VERTEX PHARMACEUTICALS INC COM 92532f100 7,838 63,474 SH   SOLE   63,474 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857w308 659 18,091 SH   SOLE   18,091 0 0
VORNADO RLTY TR SH BEN INT 929042109 11,121 117,150 SH   SOLE   117,150 0 0
WAL-MART STORES INC COM 931142103 2,769 39,037 SH   SOLE   39,037 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 4,252 163,840 SH   SOLE   163,840 0 0
WASTE MGMT INC DEL COM 94106L109 5,818 125,518 SH   SOLE   125,518 0 0
WATERS CORP COM 941848103 4,840 37,701 SH   SOLE   37,701 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 2,997 91,688 SH   SOLE   91,688 0 0
WELLS FARGO & CO NEW COM 949746101 13,355 237,456 SH   SOLE   237,456 0 0
West Loop Realty Fund Class I #N/A 46141P420 22,079 1,805,295 SH   SOLE   1,805,295 0 0
WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 3,043 48,027 SH   SOLE   48,027 0 0
WESTLAKE CHEM PARTNERS LP COM UNIT RP LP 960417103 392 18,000 SH   SOLE   18,000 0 0