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, 2012 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: KEMPER CORPORATION Address: One East Wacker Drive, 9th Floor Chicago, IL 60601 13F File Number: 028-02715 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 form. Person Signing this Report on Behalf of Reporting Manager: Name: Richard Roeske Title: Vice President Phone: 312-661-4600 Signature, Place, and Date of Signing: /s/ Richard Roeske Chicago, IL May 07, 2012 KEMPER CORPORATION FORMERLY REPORTED UNDER THE NAME UNITRIN INC. Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 44 Form 13F Information Table Value Total: $213,359 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. No. 13F File Number Name 01 028-00121 TRINITY UNIVERSAL INSURANCE COMPANY FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ABBOTT LABS COM 002824100 3677 60000 SH OTHER 01 0 60000 0 ABITIBIBOWATER INC COM NEW 003687209 49 3404 SH DEFINED 3404 0 0 AIR PRODS & CHEMS INC COM 009158106 1102 12000 SH OTHER 01 0 12000 0 ALTRIA GROUP INC COM 02209S103 3704 120000 SH OTHER 01 0 120000 0 AUTOMATIC DATA PROCESSING IN COM 053015103 1932 35000 SH OTHER 01 0 35000 0 BANK OF AMERICA CORPORATION 7.25%CNV PFD L 060505682 245 250 SH DEFINED 01 250 0 0 BARCLAYS BANK PLC ADS7.75%PFD S4 06739H511 2016 80000 SH DEFINED 80000 0 0 BARCLAYS BANK PLC ADS7.75%PFD S4 06739H511 18144 720000 SH DEFINED 720000 0 0 BLACKROCK INC COM 09247X101 1229 6000 SH OTHER 01 0 6000 0 CATERPILLAR INC DEL COM 149123101 3835 36000 SH OTHER 01 0 36000 0 CHEVRON CORP NEW COM 166764100 6969 65000 SH OTHER 01 0 65000 0 CIT GROUP INC COM NEW 125581801 38 927 SH DEFINED 927 0 0 CIT GROUP INC COM NEW 125581801 252 6099 SH DEFINED 6099 0 0 COCA COLA CO COM 191216100 7401 100000 SH OTHER 01 0 100000 0 CONOCOPHILLIPS COM 20825C104 4181 55000 SH OTHER 01 0 55000 0 DISNEY WALT CO COM DISNEY 254687106 219 5000 SH OTHER 01 0 5000 0 ENTERPRISE PRODS PARTNERS L COM 293792107 3785 75000 SH OTHER 01 0 75000 0 EXXON MOBIL CORP COM 30231G102 9540 110000 SH OTHER 01 0 110000 0 FIFTH STREET FINANCE CORP COM 31678A103 7190 736689 SH DEFINED 01 736689 0 0 FREEPORT-MCMORAN COPPER & GO COM 35671D857 2282 60000 SH OTHER 01 0 60000 0 INTEL CORP COM 458140100 2109 75000 SH OTHER 01 0 75000 0 INTERNATIONAL BUSINESS MACHS COM 459200101 4799 23000 SH OTHER 01 0 23000 0 ISHARES TR IBOXX INV CPBD 464287242 62440 540000 SH DEFINED 540000 0 0 ISHARES TR IBOXX INV CPBD 464287242 5203 45000 SH DEFINED 45000 0 0 JOHNSON & JOHNSON COM 478160104 4287 65000 SH OTHER 01 0 65000 0 JPMORGAN CHASE & CO COM 46625H100 2943 64000 SH OTHER 01 0 64000 0 KRAFT FOODS INC CL A 50075N104 3231 85000 SH OTHER 01 0 85000 0 LAUDER ESTEE COS INC CL A 518439104 526 8500 SH OTHER 01 0 8500 0 MCDONALDS CORP COM 580135101 5199 53000 SH OTHER 01 0 53000 0 MERCK & CO INC NEW COM 58933Y105 2688 70000 SH OTHER 01 0 70000 0 NRG ENERGY INC COM NEW 629377508 2 118 SH DEFINED 118 0 0 OCCIDENTAL PETE CORP DEL COM 674599105 3095 32500 SH OTHER 01 0 32500 0 PEPSICO INC COM 713448108 2986 45000 SH OTHER 01 0 45000 0 PHILIP MORRIS INTL INC COM 718172109 10633 120000 SH OTHER 01 0 120000 0 PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 5099 65000 SH OTHER 01 0 65000 0 PRAXAIR INC COM 74005P104 2064 18000 SH OTHER 01 0 18000 0 PROCTER & GAMBLE CO COM 742718109 4059 60400 SH OTHER 01 0 60400 0 TARGET CORP COM 87612E106 2447 42000 SH OTHER 01 0 42000 0 TEXAS INSTRS INC COM 882508104 1681 50000 SH OTHER 01 0 50000 0 TIME WARNER CABLE INC COM 88732J207 1019 12500 SH OTHER 01 0 12500 0 UNITED TECHNOLOGIES CORP COM 913017109 572 6900 SH OTHER 01 0 6900 0 WAL MART STORES INC COM 931142103 2632 43000 SH OTHER 01 0 43000 0 WALGREEN CO COM 931422109 2177 65000 SH OTHER 01 0 65000 0 WILLIAMS PARTNERS L P COM UNIT L P 96950F104 3678 65000 SH OTHER 01 0 65000 0