The topological string captures certain superstring amplitudes which
are also encoded in the underlying string effective action. However, unlike the topological string free energy, the effective action that comprises higher-order derivative couplings is not defined in terms of duality covariant variables. This puzzle is resolved in the context of real special geometry by introducing the so-called Hesse potential, which is defined in terms of duality covariant variables and is related by a Legendre transformation to the function that encodes the effective action. It is demonstrated that the Hesse potential contains a unique subsector that possesses all the characteristic properties of a topological string free energy. In particular, this subsector captures the holomorphic anomaly equation of perturbative type II topological string theory. Time permitting, we will also comment on non-perturbative corrections.