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 292 1,780 SH   SOLE   1,780 0 0
ABBOTT LABS COM 002824100 309 6,870 SH   SOLE   6,870 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 354 3,960 SH   SOLE   3,960 0 0
ACCESS MIDSTREAM PARTNERS L UNIT 00434L109 1,662 30,660 SH   SOLE   30,660 0 0
ACTUANT CORP CL A NEW 00508X203 2,966 108,900 SH   SOLE   108,900 0 0
AEROPOSTALE COM 007865108 2,478 1,068,200 SH   SOLE   1,068,200 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 2,689 30,300 SH   SOLE   30,300 0 0
ALLIANCEBERNSTEIN GBL HGH IN COM 01879R106 373 30,000 SH   SOLE   30,000 0 0
ALLIANZGI EQUITY & CONV INCO COM 018829101 1,241 60,000 SH   SOLE   60,000 0 0
ALTRIA GROUP INC COM 02209S103 359 7,280 SH   SOLE   7,280 0 0
AMAZON COM INC COM 023135106 29,127 93,850 SH   SOLE   93,850 0 0
AMERICAN ASSETS TR INC COM 024013104 2,934 73,700 SH   SOLE   73,700 0 0
AMERICAN CAP LTD COM 02503Y103 292 20,000 SH   SOLE   20,000 0 0
AMERICAN RESIDENTIAL PPTYS I COM 02927E303 545 31,000 SH   SOLE   31,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100 2,565 25,950 SH   SOLE   25,950 0 0
ANADARKO PETE CORP COM 032511107 3,833 46,460 SH   SOLE   46,460 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 1,602 14,260 SH   SOLE   14,260 0 0
ANTERO RES CORP COM 03674X106 1,877 46,250 SH   SOLE   46,250 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 762 20,500 SH   SOLE   20,500 0 0
APPLE INC COM 037833100 471 4,270 SH   SOLE   4,270 0 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 974 180,070 SH   SOLE   180,070 0 0
AUTOLIV INC COM 052800109 4,778 45,026 SH   SOLE   0 0 45,026
AUTOZONE INC COM 053332102 421 680 SH   SOLE   680 0 0
AVALONBAY CMNTYS INC COM 053484101 701 4,289 SH   SOLE   4,289 0 0
AVIV REIT INC MD COM 05381L101 2,207 64,000 SH   SOLE   64,000 0 0
BANK NEW YORK MELLON CORP COM 064058100 5,436 134,000 SH   SOLE   134,000 0 0
BARD C R INC COM 067383109 292 1,750 SH   SOLE   1,750 0 0
BARRICK GOLD CORP COM 067901108 2,968 276,000 SH   SOLE   276,000 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 2,260 10 SH   SOLE   0 0 10
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 36,637 244,000 SH   SOLE   244,000 0 0
BLACKROCK CR ALLCTN INC TR COM 092508100 1,292 100,000 SH   SOLE   100,000 0 0
BLACKROCK DEBT STRAT FD INC COM 09255R103 260 70,000 SH   SOLE   70,000 0 0
BLACKROCK GLOBAL OPP EQTY TR COM 092501105 211 16,100 SH   SOLE   16,100 0 0
BLACKROCK INCOME TR INC COM 09247F100 264 41,321 SH   SOLE   41,321 0 0
BLACKROCK INTL GRWTH & INC T COM BENE INTER 092524107 202 30,000 SH   SOLE   30,000 0 0
BLACKROCK MUNIHLDS INVSTM QL COM 09254P108 1,211 84,800 SH   SOLE   84,800 0 0
BLACKROCK MUNIYIELD CALI QLT COM 09254N103 356 23,400 SH   SOLE   23,400 0 0
BLACKROCK RES & COMM STRAT T SHS 09257A108 572 58,880 SH   SOLE   58,880 0 0
BOSTON PROPERTIES INC COM 101121101 2,885 22,420 SH   SOLE   22,420 0 0
CAMDEN PPTY TR SH BEN INT 133131102 2,668 36,126 SH   SOLE   36,126 0 0
CAMPBELL SOUP CO COM 134429109 237 5,390 SH   SOLE   5,390 0 0
CARMAX INC COM 143130102 1,365 20,500 SH   SOLE   0 0 20,500
CBRE CLARION GLOBAL REAL EST COM 12504G100 1,528 170,000 SH   SOLE   170,000 0 0
CENTRAL GOLDTRUST TR UNIT 153546106 1,626 40,000 SH   SOLE   40,000 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 3,816 22,900 SH   SOLE   22,900 0 0
CHATHAM LODGING TR COM 16208T102 290 10,000 SH   SOLE   10,000 0 0
CLOROX CO DEL COM 189054109 276 2,650 SH   SOLE   2,650 0 0
COHEN & STEERS INFRASTRUCTUR COM 19248A109 454 20,000 SH   SOLE   20,000 0 0
COLFAX CORP COM 194014106 3,043 59,000 SH   SOLE   59,000 0 0
COLONY FINL INC COM 19624R106 548 23,000 SH   SOLE   23,000 0 0
CONCHO RES INC COM 20605P101 3,064 30,710 SH   SOLE   30,710 0 0
CORESITE RLTY CORP COM 21870Q105 2,933 75,100 SH   SOLE   75,100 0 0
CREDIT ACCEP CORP MICH COM 225310101 2,728 20,000 SH   SOLE   0 0 20,000
CRESTWOOD MIDSTREAM PARTNERS UNIT LTD PARTNER 226378107 946 62,260 SH   SOLE   62,260 0 0
CUBESMART COM 229663109 2,983 135,140 SH   SOLE   135,140 0 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 724 20,300 SH   SOLE   20,300 0 0
DIAMONDBACK ENERGY INC COM 25278X109 2,808 46,980 SH   SOLE   46,980 0 0
DOLLAR GEN CORP NEW COM 256677105 3,245 45,900 SH   SOLE   45,900 0 0
DOUBLELINE INCOME SOLUTIONS COM 258622109 597 30,000 SH   SOLE   30,000 0 0
DOUGLAS EMMETT INC COM 25960P109 3,131 110,250 SH   SOLE   110,250 0 0
EATON VANCE MUN BD FD COM 27827X101 257 20,000 SH   SOLE   20,000 0 0
EATON VANCE TAX MNGD GBL DV COM 27829F108 475 50,000 SH   SOLE   50,000 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 2,956 80,793 SH   SOLE   80,793 0 0
EMERSON ELEC CO COM 291011104 205 3,320 SH   SOLE   3,320 0 0
ENDO INTL PLC SHS G30401106 284 3,940 SH   SOLE   3,940 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 1,874 32,650 SH   SOLE   32,650 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 1,160 17,840 SH   SOLE   17,840 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 1,090 30,200 SH   SOLE   30,200 0 0
EOG RES INC COM 26875P101 4,687 50,900 SH   SOLE   50,900 0 0
EQT MIDSTREAM PARTNERS LP UNIT LTD PARTN 26885B100 1,416 16,090 SH   SOLE   16,090 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 701 27,300 SH   SOLE   27,300 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 3,020 58,590 SH   SOLE   58,590 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 2,948 41,030 SH   SOLE   41,030 0 0
ESSEX PPTY TR INC COM 297178105 1,177 5,695 SH   SOLE   5,695 0 0
EXTERRAN HLDGS INC COM 30225X103 2,597 79,700 SH   SOLE   79,700 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 711 34,600 SH   SOLE   34,600 0 0
FIRST TR HIGH INCOME L/S FD COM 33738E109 256 16,000 SH   SOLE   16,000 0 0
FLEETCOR TECHNOLOGIES INC COM 339041105 4,194 28,200 SH   SOLE   28,200 0 0
FORT DEARBORN INCOME SECS IN COM 347200107 251 17,698 SH   SOLE   17,698 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 257 32,000 SH   SOLE   32,000 0 0
GENERAL DYNAMICS CORP COM 369550108 3,289 23,900 SH   SOLE   23,900 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 720 25,600 SH   SOLE   25,600 0 0
GENERAL MTRS CO COM 37045V100 3,268 93,600 SH   SOLE   93,600 0 0
GENPACT LIMITED SHS G3922B107 12,683 670,000 SH   SOLE   670,000 0 0
GOLDCORP INC NEW COM 380956409 3,080 166,300 SH   SOLE   166,300 0 0
GOOGLE INC CL A 38259P508 3,184 6,000 SH   SOLE   0 0 6,000
GUIDANCE SOFTWARE INC COM 401692108 2,928 403,900 SH   SOLE   403,900 0 0
GULFPORT ENERGY CORP COM NEW 402635304 6,440 154,280 SH   SOLE   154,280 0 0
HALLMARK FINL SVCS INC EC COM NEW 40624Q203 2,330 192,715 SH   SOLE   192,715 0 0
HATTERAS FINL CORP COM 41902R103 369 20,000 SH   SOLE   20,000 0 0
HEALTH CARE REIT INC COM 42217K106 2,995 39,590 SH   SOLE   39,590 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 3,005 111,560 SH   SOLE   111,560 0 0
HORMEL FOODS CORP COM 440452100 305 5,850 SH   SOLE   5,850 0 0
HORSEHEAD HLDG CORP COM 440694305 3,619 228,600 SH   SOLE   228,600 0 0
INTEL CORP COM 458140100 349 9,620 SH   SOLE   9,620 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 279 1,740 SH   SOLE   1,740 0 0
INTUIT COM 461202103 372 4,040 SH   SOLE   4,040 0 0
INVESCO CALIF VALUE MUN INC COM 46132H106 1,357 105,500 SH   SOLE   105,500 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 422 27,300 SH   SOLE   27,300 0 0
INVESCO MUN OPPORTUNITY TR COM 46132C107 1,863 144,830 SH   SOLE   144,830 0 0
INVESCO MUN TR COM 46131J103 2,054 162,270 SH   SOLE   162,270 0 0
INVESCO TR INVT GRADE MUNS COM 46131M106 1,727 129,950 SH   SOLE   129,950 0 0
ISHARES MSCI CDA ETF 464286509 718 24,890 SH   SOLE   24,890 0 0
ISHARES MSCI SINGAP ETF 464286673 256 19,540 SH   SOLE   19,540 0 0
ISHARES MSCI FRANCE ETF 464286707 556 22,570 SH   SOLE   22,570 0 0
ISHARES MSCI TURKEY ETF 464286715 272 5,000 SH   SOLE   5,000 0 0
ISHARES MSCI TAIWAN ETF 464286731 310 20,500 SH   SOLE   20,500 0 0
ISHARES MSCI SZ CAP ETF 464286749 794 25,050 SH   SOLE   25,050 0 0
ISHARES MSCI SWEDEN ETF 464286756 351 11,090 SH   SOLE   11,090 0 0
ISHARES MSCI SPAN CP ETF 464286764 831 24,000 SH   SOLE   24,000 0 0
ISHARES MSCI GERMANY ETF 464286806 1,577 57,530 SH   SOLE   57,530 0 0
ISHARES MSCI NETHERL ETF 464286814 217 9,060 SH   SOLE   9,060 0 0
ISHARES MSCI MALAYSI ETF 464286830 160 11,870 SH   SOLE   11,870 0 0
ISHARES MSCI JAPAN ETF 464286848 232 20,600 SH   SOLE   20,600 0 0
ISHARES MSCI ITALCPD ETF 464286855 405 29,790 SH   SOLE   29,790 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 1,082 26,000 SH   SOLE   26,000 0 0
ISHARES TR 7-10 Y TR BD ETF 464287440 689 6,500 SH   SOLE   6,500 0 0
ISHARES TR MSCI PHILIPS ETF 46429B408 382 10,000 SH   SOLE   10,000 0 0
ISHARES TR MSCI INDIA ETF 46429B598 285 9,500 SH   SOLE   9,500 0 0
ISHARES TR MSCI UTD KNGDM 46434V548 2,436 135,120 SH   SOLE   135,120 0 0
KIMCO RLTY CORP COM 49446R109 2,891 115,000 SH   SOLE   115,000 0 0
KINDER MORGAN INC DEL COM 49456B101 2,057 48,600 SH   SOLE   48,600 0 0
KINDER MORGAN INC DEL *W EXP 05/25/201 49456B119 420 98,586 SH   SOLE   98,586 0 0
KOFAX LTD COM USD G5307C105 3,642 518,000 SH   SOLE   518,000 0 0
L BRANDS INC COM 501797104 5,297 61,200 SH   SOLE   61,200 0 0
LASALLE HOTEL PPTYS COM SH BEN INT 517942108 704 17,400 SH   SOLE   17,400 0 0
LEAR CORP COM NEW 521865204 2,687 27,400 SH   SOLE   27,400 0 0
LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 3,071 104,400 SH   SOLE   104,400 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 1,036 15,430 SH   SOLE   15,430 0 0
MASONITE INTL CORP NEW COM 575385109 2,766 45,000 SH   SOLE   45,000 0 0
MCG CAPITAL CORP COM 58047P107 1,237 322,900 SH   SOLE   322,900 0 0
MFS CHARTER INCOME TR SH BEN INT 552727109 184 20,000 SH   SOLE   20,000 0 0
MFS INVT GRADE MUN TR SH BEN INT 59318B108 113 12,000 SH   SOLE   12,000 0 0
MICROSOFT CORP COM 594918104 2,950 63,500 SH   SOLE   63,500 0 0
MORGAN STANLEY EM MKTS DM DE COM 617477104 634 60,000 SH   SOLE   60,000 0 0
MORGAN STANLEY EMER MKTS DEB COM 61744H105 91 10,000 SH   SOLE   10,000 0 0
MORNINGSTAR INC COM 617700109 1,553 24,000 SH   SOLE   0 0 24,000
MPLX LP COM UNIT REP LTD 55336V100 1,317 17,910 SH   SOLE   17,910 0 0
NEWMONT MINING CORP COM 651639106 2,948 156,000 SH   SOLE   156,000 0 0
NEWS CORP NEW CL A 65249B109 2,421 154,300 SH   SOLE   154,300 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 1,008 17,450 SH   SOLE   17,450 0 0
NUVEEN AMT-FREE MUN INCOME F COM 670657105 1,833 132,690 SH   SOLE   132,690 0 0
NUVEEN CAL AMT-FREE MUN INC COM 670651108 501 34,000 SH   SOLE   34,000 0 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 439 50,000 SH   SOLE   50,000 0 0
NUVEEN DIV ADVANTAGE MUN FD COM 67070F100 2,629 186,300 SH   SOLE   186,300 0 0
NUVEEN DIVID ADV MUN FD 3 COM SH BEN INT 67070X101 2,961 214,900 SH   SOLE   214,900 0 0
NUVEEN DIVID ADVANTAGE MUN F COM 67066V101 1,107 77,240 SH   SOLE   77,240 0 0
NUVEEN DIVID ADVANTAGE MUN I COM 67071L106 899 63,700 SH   SOLE   63,700 0 0
NUVEEN INVT QUALITY MUN FD I COM 67062E103 498 32,700 SH   SOLE   32,700 0 0
NUVEEN MD PREM INCOME MUN FD COM 67061Q107 735 58,100 SH   SOLE   58,100 0 0
NUVEEN MTG OPPTY TERM FD 2 COM 67074R100 811 35,000 SH   SOLE   35,000 0 0
NUVEEN MUN ADVANTAGE FD INC COM 67062H106 2,467 180,580 SH   SOLE   180,580 0 0
NUVEEN MUN MKT OPPORTUNITY F COM 67062W103 2,887 211,800 SH   SOLE   211,800 0 0
NUVEEN PERFORMANCE PLUS MUN COM 67062P108 398 27,000 SH   SOLE   27,000 0 0
NUVEEN PFD INCOME OPPRTNY FD COM 67073B106 725 75,800 SH   SOLE   75,800 0 0
NUVEEN PREM INCOME MUN FD COM 67062T100 2,241 161,700 SH   SOLE   161,700 0 0
NUVEEN PREM INCOME MUN FD 2 COM 67063W102 2,739 193,430 SH   SOLE   193,430 0 0
NUVEEN PREMIER MUN INCOME FD COM 670988104 490 35,100 SH   SOLE   35,100 0 0
NUVEEN QUALITY INCOME MUN FD COM 670977107 1,676 119,950 SH   SOLE   119,950 0 0
NUVEEN QUALITY MUN FD INC COM 67062N103 1,846 140,100 SH   SOLE   140,100 0 0
NUVEEN QUALITY PFD INC FD 3 COM 67072W101 500 60,000 SH   SOLE   60,000 0 0
NUVEEN QUALITY PFD INCOME FD COM 67072C105 1,647 185,000 SH   SOLE   185,000 0 0
NUVEEN SELECT QUALITY MUN FD COM 670973106 3,099 222,020 SH   SOLE   222,020 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 28,875 557,100 SH   SOLE   557,100 0 0
OASIS PETE INC NEW COM 674215108 1,717 103,830 SH   SOLE   103,830 0 0
OCWEN FINL CORP COM NEW 675746309 3,097 205,100 SH   SOLE   205,100 0 0
ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 828 20,900 SH   SOLE   20,900 0 0
ORACLE CORP COM 68389X105 349 7,750 SH   SOLE   7,750 0 0
PERRIGO CO PLC SHS G97822103 256 1,530 SH   SOLE   1,530 0 0
PHILIP MORRIS INTL INC COM 718172109 262 3,220 SH   SOLE   3,220 0 0
PIMCO DYNAMIC CR INCOME FD COM SHS 72202D106 1,239 60,000 SH   SOLE   60,000 0 0
PIONEER NAT RES CO COM 723787107 4,550 30,570 SH   SOLE   30,570 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 1,023 19,930 SH   SOLE   19,930 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 920 35,810 SH   SOLE   35,810 0 0
POST PPTYS INC COM 737464107 3,341 56,854 SH   SOLE   56,854 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 2,065 20,000 SH   SOLE   20,000 0 0
PROLOGIS INC COM 74340W103 2,771 64,400 SH   SOLE   64,400 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 2,259 28,400 SH   SOLE   28,400 0 0
PUTNAM MANAGED MUN INCOM TR COM 746823103 580 80,000 SH   SOLE   80,000 0 0
PUTNAM MUN OPPORTUNITIES TR SH BEN INT 746922103 1,946 162,270 SH   SOLE   162,270 0 0
PUTNAM PREMIER INCOME TR SH BEN INT 746853100 630 120,000 SH   SOLE   120,000 0 0
QUALCOMM INC COM 747525103 221 2,970 SH   SOLE   2,970 0 0
RANGE RES CORP COM 75281A109 7,205 134,780 SH   SOLE   134,780 0 0
REGENCY CTRS CORP COM 758849103 665 10,420 SH   SOLE   10,420 0 0
REGENCY ENERGY PARTNERS L P COM UNITS L P 75885Y107 991 41,310 SH   SOLE   41,310 0 0
RETAIL PPTYS AMER INC CL A 76131V202 2,920 174,960 SH   SOLE   174,960 0 0
RICE ENERGY INC COM 762760106 3,160 150,700 SH   SOLE   150,700 0 0
ROCKWELL COLLINS INC COM 774341101 285 3,370 SH   SOLE   3,370 0 0
SCHWAB CHARLES CORP NEW COM 808513105 3,101 102,700 SH   SOLE   102,700 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 297 3,940 SH   SOLE   3,940 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 606 8,400 SH   SOLE   8,400 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 1,472 18,600 SH   SOLE   18,600 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 940 38,000 SH   SOLE   38,000 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,443 25,500 SH   SOLE   25,500 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,654 40,000 SH   SOLE   40,000 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 1,058 22,400 SH   SOLE   22,400 0 0
SEMGROUP CORP CL A 81663A105 1,477 21,600 SH   SOLE   21,600 0 0
SHUTTERFLY INC COM 82568P304 4,511 108,200 SH   SOLE   108,200 0 0
SIGMA ALDRICH CORP COM 826552101 364 2,650 SH   SOLE   2,650 0 0
SIMON PPTY GROUP INC NEW COM 828806109 2,560 14,060 SH   SOLE   14,060 0 0
SIX FLAGS ENTMT CORP NEW COM 83001A102 5,256 121,800 SH   SOLE   121,800 0 0
SOLAR CAP LTD COM 83413U100 490 27,200 SH   SOLE   27,200 0 0
SOUTHWESTERN ENERGY CO COM 845467109 2,126 77,910 SH   SOLE   77,910 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,817 16,000 SH   SOLE   16,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 22,502 109,500 SH   SOLE   109,500 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 2,900 243,900 SH   SOLE   243,900 0 0
STORE CAP CORP COM 862121100 730 33,800 SH   SOLE   33,800 0 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 2,888 218,280 SH   SOLE   218,280 0 0
SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 1,476 35,326 SH   SOLE   35,326 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 2,891 175,100 SH   SOLE   175,100 0 0
SUPPORT COM INC COM 86858W101 1,120 530,600 SH   SOLE   530,600 0 0
TALLGRASS ENERGY PARTNERS LP COM UNIT 874697105 1,189 26,600 SH   SOLE   26,600 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 2,902 78,500 SH   SOLE   78,500 0 0
TARGA RES CORP COM 87612G101 792 7,470 SH   SOLE   7,470 0 0
TAUBMAN CTRS INC COM 876664103 2,904 38,000 SH   SOLE   38,000 0 0
TEEKAY CORPORATION COM Y8564W103 3,639 71,500 SH   SOLE   71,500 0 0
TEEKAY OFFSHORE PARTNERS L P PARTNERSHIP UN Y8565J101 921 34,410 SH   SOLE   34,410 0 0
TEMPLETON GLOBAL INCOME FD COM 880198106 431 60,000 SH   SOLE   60,000 0 0
TEMPUR SEALY INTL INC COM 88023U101 2,971 54,100 SH   SOLE   54,100 0 0
TESORO LOGISTICS LP COM UNIT LP 88160T107 1,348 22,900 SH   SOLE   22,900 0 0
TEXAS INSTRS INC COM 882508104 303 5,670 SH   SOLE   5,670 0 0
TRANSDIGM GROUP INC COM 893641100 4,064 20,700 SH   SOLE   20,700 0 0
TRULIA INC COM 897888103 7,121 154,700 SH   SOLE   154,700 0 0
TWENTY FIRST CENTY FOX INC CL B 90130A200 3,752 101,700 SH   SOLE   101,700 0 0
TWO HBRS INVT CORP COM 90187B101 1,618 161,500 SH   SOLE   161,500 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 8,085 98,150 SH   SOLE   98,150 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 6,083 152,000 SH   SOLE   152,000 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 7,576 200,000 SH   SOLE   200,000 0 0
VIOLIN MEMORY INC COM 92763A101 11,101 2,317,500 SH   SOLE   2,317,500 0 0
VISA INC COM CL A 92826C839 296 1,130 SH   SOLE   1,130 0 0
VITESSE SEMICONDUCTOR CORP COM NEW 928497304 3,244 858,212 SH   SOLE   858,212 0 0
VORNADO RLTY TR SH BEN INT 929042109 2,999 25,480 SH   SOLE   25,480 0 0
WABCO HLDGS INC COM 92927K102 2,682 25,600 SH   SOLE   25,600 0 0
WELLS FARGO & CO NEW COM 949746101 3,706 67,600 SH   SOLE   67,600 0 0
WESCO AIRCRAFT HLDGS INC COM 950814103 2,941 210,400 SH   SOLE   210,400 0 0
WESTERN ASSET EMRG MKT DEBT COM 95766A101 158 10,000 SH   SOLE   10,000 0 0
WESTERN ASSET GLB HI INCOME COM 95766B109 183 16,500 SH   SOLE   16,500 0 0
WESTERN ASSET MUN HI INCM FD COM 95766N103 138 17,900 SH   SOLE   17,900 0 0
WESTERN GAS EQUITY PARTNERS COMUNT LTD PT 95825R103 982 16,300 SH   SOLE   16,300 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 5,105 103,700 SH   SOLE   103,700 0 0
WISDOMTREE TR EUROPE SMCP DV 97717W869 926 18,000 SH   SOLE   18,000 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 1,713 30,800 SH   SOLE   30,800 0 0
XOOM CORP COM 98419Q101 2,313 132,100 SH   SOLE   132,100 0 0
YADKIN FINL CORP COM 984305102 14,216 723,458 SH   SOLE   723,458 0 0
YANDEX N V SHS CLASS A N97284108 2,478 138,000 SH   SOLE   138,000 0 0
ZILLOW INC CL A 98954A107 21,578 203,770 SH   SOLE   203,770 0 0