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
AETNA INC Common Stock 00817Y108 433 3,400 SH   OTR   0 3,400 0
AFLAC INC Common Stock 001055102 701 11,275 SH   OTR   0 11,275 0
ALEXANDRIA REAL ESTATE EQUIT REITS 015271109 1,080 12,350 SH   SOLE   12,350 0 0
ALLEGHANY CORP Common Stock 017175100 140 300 SH   OTR   0 300 0
AMERICAN CAMPUS COMMUNITIES REITS 024835100 650 17,251 SH   SOLE   17,251 0 0
AMERICAN CAPITAL AGENCY CORP REITS 02503X105 2,695 146,732 SH   SOLE   146,732 0 0
AMERICAN EXPRESS COMPANY Common Stock 025816109 554 7,125 SH   OTR   0 7,125 0
APACHE CORP Common Stock 037411105 137 2,375 SH   OTR   0 2,375 0
APARTMENTS INVESTMENT REITS 03748R101 1,026 27,794 SH   SOLE   27,794 0 0
ASHFORD HOSPITALITY PRIME INC REITS 044102101 66 4,374 SH   SOLE   4,374 0 0
AT & T INC Common Stock 00206R102 502 14,150 SH   OTR   0 14,150 0
AVALONBAY COMMUNITIES INC REITS 053484101 4,811 30,128 SH   SOLE   30,128 0 0
BERKSHIRE HATHAWAY INC. Common Stock 084670702 585 4,300 SH   OTR   0 4,300 0
BIOMED REALTY TRUST INC REITS 09063H107 405 20,976 SH   SOLE   20,976 0 0
BOSTON PROPERTIES INC REITS 101121101 3,453 28,543 SH   SOLE   28,543 0 0
BRANDYWINE REALTY TRUST REITS 105368203 106 8,000 SH   SOLE   8,000 0 0
CAMDEN PROPERTY TRUST REITS 133131102 1,118 15,055 SH   SOLE   15,055 0 0
CBL & ASSOCIATES PROPERTIES REITS 124830100 1,690 104,362 SH   SOLE   104,362 0 0
CHAMBERS STREET PROPERTIES REITS 157842105 354 44,500 SH   SOLE   44,500 0 0
CHEVRON CORPORATION Common Stock 166764100 583 6,050 SH   OTR   0 6,050 0
CITIGROUP INC Common Stock 172967424 621 11,250 SH   OTR   0 11,250 0
CORENERGY INFRASTRUCTURE TRUST REITS 21870U205 350 55,481 SH   SOLE   55,481 0 0
CORESITE REALTY CORP REITS 21870Q105 227 5,000 SH   SOLE   5,000 0 0
CORPORATE OFFICE PROPERTIES REITS 22002T108 1,350 57,355 SH   SOLE   57,355 0 0
CORRECTIONS CORP OF AMERICA REITS 22025Y407 2,581 78,058 SH   SOLE   78,058 0 0
CUBESMART REITS 229663109 664 28,700 SH   SOLE   28,700 0 0
DCT INDUSTRIAL TRUST INC REITS 233153204 126 4,000 SH   SOLE   4,000 0 0
DDR CORP REITS 23317H102 680 43,964 SH   SOLE   43,964 0 0
DIAMONDROCK HOSPITALITY CO REITS 252784301 4 282 SH   SOLE   282 0 0
DIGITAL REALTY TRUST INC REITS 253868103 173 2,600 SH   SOLE   2,600 0 0
DOUGLAS EMMETT INC REITS 25960P109 431 16,000 SH   SOLE   16,000 0 0
DUKE REALTY CORP REITS 264411505 549 29,565 SH   SOLE   29,565 0 0
DUPONT FABROS TECHNOLOGY INC REITS 26613Q106 3 112 SH   SOLE   112 0 0
EASTGROUP PROPERTIES INC REITS 277276101 618 11,000 SH   SOLE   11,000 0 0
EMERSON ELECTRIC CO Common Stock 291011104 223 4,025 SH   OTR   0 4,025 0
EQUITY COMMONWEALTH REITS 294628102 1,344 52,406 SH   SOLE   52,406 0 0
EQUITY LIFESTYLE PROPERTIES REITS 29472R108 1,033 19,656 SH   SOLE   19,656 0 0
EQUITY ONE INC REITS 294752100 718 30,770 SH   SOLE   30,770 0 0
EQUITY RESIDENTIAL PROPS TR REITS 29476L107 4,494 64,076 SH   SOLE   64,076 0 0
ESSEX PROPERTY TRUST INC REITS 297178105 522 2,460 SH   SOLE   2,460 0 0
FEDERAL REALTY INVS TRUST REITS 313747206 910 7,107 SH   SOLE   7,107 0 0
FIRST INDUSTRIAL REALTY TR REITS 32054K103 435 23,200 SH   SOLE   23,200 0 0
FIRST POTOMAC REALTY TRUST REITS 33610F109 92 8,900 SH   SOLE   8,900 0 0
FRANLKLIN STREET PROPERTIES C REITS 35471R106 151 13,314 SH   SOLE   13,314 0 0
GENERAL GROWTH PROPERTIES REITS 370023103 1,338 52,162 SH   SOLE   52,162 0 0
HCP INC REITS 40414L109 4,038 110,750 SH   SOLE   110,750 0 0
HEALTH CARE REIT INC REITS 42217K106 2,052 31,283 SH   SOLE   31,283 0 0
HEALTHCARE TRUST OF AMERICA IN REITS 42225P501 401 16,750 SH   SOLE   16,750 0 0
HOME PROPERTIES INC REITS 437306103 1,224 16,760 SH   SOLE   16,760 0 0
HOSPITALITY PROPERTIES TRUST REITS 44106M102 809 28,067 SH   SOLE   28,067 0 0
HOST HOTELS & RESORTS INC REITS 44107P104 2,518 127,048 SH   SOLE   127,048 0 0
HYSTER YALE MATERIALS Common Stock 449172105 137 1,975 SH   OTR   0 1,975 0
INTEL CORP Common Stock 458140100 405 13,325 SH   OTR   0 13,325 0
IRON MOUNTAIN INC REITS 46284V101 2,650 85,500 SH   SOLE   85,500 0 0
ISHARES Iboxx Investment Grade Corporate Bond Fund Exchange Traded Fund 464287242 1,817 15,700 SH   SOLE   15,700 0 0
KILROY REALTY CORP REITS 49427F108 153 2,280 SH   SOLE   2,280 0 0
KIMCO REALTY CORP REITS 49446R109 1,849 82,077 SH   SOLE   82,077 0 0
KITE REALTY GROUP TRUST REITS 49803T300 311 12,725 SH   SOLE   12,725 0 0
LIBERTY PROPERTY TRUST REITS 531172104 349 10,850 SH   SOLE   10,850 0 0
LTC PROPERTIES INC REITS 502175102 75 1,800 SH   SOLE   1,800 0 0
MACK-CALI REALTY CORPORATION REITS 554489104 274 14,879 SH   SOLE   14,879 0 0
MICROSOFT CORP Common Stock 594918104 588 13,325 SH   OTR   0 13,325 0
MID-AMERICA APARTMENT COMM INC REITS 59522J103 201 2,755 SH   SOLE   2,755 0 0
NATIONAL OILWELL VARCO INC Common Stock 637071101 461 9,550 SH   OTR   0 9,550 0
NATIONAL RETAIL PROPERTIES REITS 637417106 175 5,000 SH   SOLE   5,000 0 0
NEW YORK REIT INC REITS 64976L109 324 32,600 SH   SOLE   32,600 0 0
NOW INC/DE Common Stock 67011P100 161 8,086 SH   OTR   0 8,086 0
OMEGA HEALTHCARE INVESTORS REITS 681936100 464 13,528 SH   SOLE   13,528 0 0
ONE LIBERTY PROPERTIES INC REITS 682406103 2,044 95,975 SH   SOLE   95,975 0 0
PARAMOUNT GROUP INC REITS 69924R108 755 44,000 SH   SOLE   44,000 0 0
PENN REAL ESTATE INVEST TRUST REITS 709102107 245 11,471 SH   SOLE   11,471 0 0
PIEDMONT OFFICE REALTY TRUST REITS 720190206 25 1,407 SH   SOLE   1,407 0 0
POST PROPERTIES INC REITS 737464107 1,592 29,302 SH   SOLE   29,302 0 0
PROCTER GAMBLE CO Common Stock 742718109 485 6,200 SH   OTR   0 6,200 0
PROLOGIS INC REITS 74340W103 1,777 47,923 SH   SOLE   47,923 0 0
PUBLIC STORAGE INC REITS 74460D109 5,895 31,990 SH   SOLE   31,990 0 0
RAMCO GERHENSON PROPERTIES REITS 751452202 192 11,750 SH   SOLE   11,750 0 0
REALTY INCOME CORPORATION REITS 756109104 790 17,800 SH   SOLE   17,800 0 0
REGENCY CENTERS CORP REITS 758849103 435 7,371 SH   SOLE   7,371 0 0
RETAIL PROPERTIES OF AMERICA REITS 76131V202 701 50,314 SH   SOLE   50,314 0 0
SELECT INCOME REIT REITS 81618T100 2,698 130,631 SH   SOLE   130,631 0 0
SIMON PROPERTY GROUP INC REITS 828806109 7,788 45,037 SH   SOLE   45,037 0 0
SL GREEN REITS 78440X101 431 3,921 SH   SOLE   3,921 0 0
SOVRAN SELF STORAGE INC REITS 84610H108 216 2,486 SH   SOLE   2,486 0 0
SPIRIT REALTY CAPITAL REITS 84860W102 252 26,015 SH   SOLE   26,015 0 0
STAPLES INC Common Stock 855030102 130 8,500 SH   OTR   0 8,500 0
STRYKER CORP Common Stock 863667101 449 4,700 SH   OTR   0 4,700 0
TANGER FACTORY OUTLET CENTERS REITS 875465106 1,276 40,289 SH   SOLE   40,289 0 0
TAUBMAN CENTERS INC REITS 876664103 2,952 42,448 SH   SOLE   42,448 0 0
TELEPHONE AND DATA SYSTEMS Common Stock 879433829 240 8,150 SH   OTR   0 8,150 0
THE MACERICH CO REITS 554382101 666 8,934 SH   SOLE   8,934 0 0
TOTAL SYSTEM SERVICES INC Common Stock 891906109 296 7,100 SH   OTR   0 7,100 0
UDR INC REITS 902653104 269 8,402 SH   SOLE   8,402 0 0
URBAN EDGE PROPERTIES REITS 91704F104 83 4,000 SH   SOLE   4,000 0 0
VALMONT INDUSTRIES Common Stock 920253101 255 2,150 SH   OTR   0 2,150 0
VARIAN MEDICAL SYSTEMS Common Stock 92220P105 388 4,600 SH   OTR   0 4,600 0
VENTAS INC REITS 92276F100 5,338 86,015 SH   SOLE   86,015 0 0
VORNADO REALTY TRUST REITS 929042109 2,514 26,495 SH   SOLE   26,495 0 0
WAL-MART STORES INC Common Stock 931142103 436 6,150 SH   OTR   0 6,150 0
WASHINGTON REAL ESTATE INV REITS 939653101 1 32 SH   SOLE   32 0 0
WEINGARTEN REALTY INVST REITS 948741103 425 12,998 SH   SOLE   12,998 0 0
WELLS FARGO & COMPANY Common Stock 949746101 646 11,475 SH   OTR   0 11,475 0
WP GLIMCHER INC REITS 92939N102 388 28,673 SH   SOLE   28,673 0 0