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 372 3,400 SH   OTR   0 3,400 0
AFLAC INC Common Stock 001055102 655 11,275 SH   OTR   0 11,275 0
ALEXANDRIA REAL ESTATE EQUIT REITS 015271109 1,621 19,150 SH   SOLE   19,150 0 0
ALLEGHANY CORP Common Stock 017175100 140 300 SH   OTR   0 300 0
AMERICAN CAMPUS COMMUNITIES REITS 024835100 625 17,251 SH   SOLE   17,251 0 0
AMERICAN CAPITAL AGENCY CORP REITS 02503X105 2,881 154,232 SH   SOLE   154,232 0 0
AMERICAN EXPRESS COMPANY Common Stock 025816109 528 7,125 SH   OTR   0 7,125 0
APACHE CORP Common Stock 037411105 117 2,975 SH   OTR   0 2,975 0
APARTMENTS INVESTMENT REITS 03748R101 769 20,794 SH   SOLE   20,794 0 0
AT & T INC Common Stock 00206R102 461 14,150 SH   OTR   0 14,150 0
AVALONBAY COMMUNITIES INC REITS 053484101 5,263 30,128 SH   SOLE   30,128 0 0
BERKSHIRE HATHAWAY INC. Common Stock 084670702 558 4,300 SH   OTR   0 4,300 0
BIOMED REALTY TRUST INC REITS 09063H107 818 40,976 SH   SOLE   40,976 0 0
BOSTON PROPERTIES INC REITS 101121101 3,794 32,043 SH   SOLE   32,043 0 0
BRANDYWINE REALTY TRUST REITS 105368203 99 8,000 SH   SOLE   8,000 0 0
CAMDEN PROPERTY TRUST REITS 133131102 854 11,555 SH   SOLE   11,555 0 0
CARE CAPITAL PROPERTIES INC REITS 141624106 978 29,685 SH   SOLE   29,685 0 0
CBL & ASSOCIATES PROPERTIES REITS 124830100 1,626 118,362 SH   SOLE   118,362 0 0
CHAMBERS STREET PROPERTIES REITS 157842105 288 44,500 SH   SOLE   44,500 0 0
CHEVRON CORPORATION Common Stock 166764100 477 6,050 SH   OTR   0 6,050 0
CITIGROUP INC Common Stock 172967424 487 9,825 SH   OTR   0 9,825 0
CORENERGY INFRASTRUCTURE TRUST REITS 21870U205 252 56,940 SH   SOLE   56,940 0 0
CORPORATE OFFICE PROPERTIES REITS 22002T108 954 45,355 SH   SOLE   45,355 0 0
CORRECTIONS CORP OF AMERICA REITS 22025Y407 2,979 100,858 SH   SOLE   100,858 0 0
CUBESMART REITS 229663109 210 7,700 SH   SOLE   7,700 0 0
DCT INDUSTRIAL TRUST INC REITS 233153204 67 2,000 SH   SOLE   2,000 0 0
DDR CORP REITS 23317H102 676 43,964 SH   SOLE   43,964 0 0
DIAMONDROCK HOSPITALITY CO REITS 252784301 3 282 SH   SOLE   282 0 0
DIGITAL REALTY TRUST INC REITS 253868103 366 5,600 SH   SOLE   5,600 0 0
DOUGLAS EMMETT INC REITS 25960P109 460 16,000 SH   SOLE   16,000 0 0
DUKE REALTY CORP REITS 264411505 563 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 325 6,000 SH   SOLE   6,000 0 0
EMERSON ELECTRIC CO Common Stock 291011104 235 5,325 SH   OTR   0 5,325 0
EQUITY COMMONWEALTH REITS 294628102 1,198 44,006 SH   SOLE   44,006 0 0
EQUITY LIFESTYLE PROPERTIES REITS 29472R108 2,866 48,956 SH   SOLE   48,956 0 0
EQUITY ONE INC REITS 294752100 749 30,770 SH   SOLE   30,770 0 0
EQUITY RESIDENTIAL PROPS TR REITS 29476L107 5,685 75,676 SH   SOLE   75,676 0 0
ESSEX PROPERTY TRUST INC REITS 297178105 550 2,460 SH   SOLE   2,460 0 0
EXTRA SPACE STORAGE INC REITS 30225T102 1,436 18,600 SH   SOLE   18,600 0 0
EXXON MOBIL CORP Common Stock 30231G102 273 3,675 SH   OTR   0 3,675 0
FEDERAL REALTY INVS TRUST REITS 313747206 970 7,107 SH   SOLE   7,107 0 0
FIRST INDUSTRIAL REALTY TR REITS 32054K103 193 9,200 SH   SOLE   9,200 0 0
FIRST POTOMAC REALTY TRUST REITS 33610F109 98 8,900 SH   SOLE   8,900 0 0
FRANLKLIN STREET PROPERTIES C REITS 35471R106 143 13,314 SH   SOLE   13,314 0 0
GENERAL GROWTH PROPERTIES REITS 370023103 1,874 72,162 SH   SOLE   72,162 0 0
HCP INC REITS 40414L109 4,124 110,750 SH   SOLE   110,750 0 0
HEALTHCARE TRUST OF AMERICA IN REITS 42225P501 165 6,750 SH   SOLE   6,750 0 0
HOSPITALITY PROPERTIES TRUST REITS 44106M102 1,746 68,267 SH   SOLE   68,267 0 0
HOST HOTELS & RESORTS INC REITS 44107P104 2,606 164,838 SH   SOLE   164,838 0 0
HYSTER YALE MATERIALS Common Stock 449172105 137 2,375 SH   OTR   0 2,375 0
INTEL CORP Common Stock 458140100 401 13,325 SH   OTR   0 13,325 0
IRON MOUNTAIN INC REITS 46284V101 2,652 85,500 SH   SOLE   85,500 0 0
ISHARES Iboxx Investment Grade Corporate Bond Fund Exchange Traded Fund 464287242 1,822 15,700 SH   SOLE   15,700 0 0
KILROY REALTY CORP REITS 49427F108 149 2,280 SH   SOLE   2,280 0 0
KIMCO REALTY CORP REITS 49446R109 2,005 82,077 SH   SOLE   82,077 0 0
KITE REALTY GROUP TRUST REITS 49803T300 303 12,725 SH   SOLE   12,725 0 0
LASALLE HOTEL PROPERTIES REITS 517942108 256 9,000 SH   SOLE   9,000 0 0
LIBERTY PROPERTY TRUST REITS 531172104 27 850 SH   SOLE   850 0 0
LTC PROPERTIES INC REITS 502175102 77 1,800 SH   SOLE   1,800 0 0
MACK-CALI REALTY CORPORATION REITS 554489104 281 14,879 SH   SOLE   14,879 0 0
MICROSOFT CORP Common Stock 594918104 589 13,325 SH   OTR   0 13,325 0
MID-AMERICA APARTMENT COMM INC REITS 59522J103 345 4,211 SH   SOLE   4,211 0 0
NATIONAL OILWELL VARCO INC Common Stock 637071101 360 9,550 SH   OTR   0 9,550 0
NATIONAL RETAIL PROPERTIES REITS 637417106 181 5,000 SH   SOLE   5,000 0 0
NEW YORK REIT INC REITS 64976L109 408 40,600 SH   SOLE   40,600 0 0
NOW INC/DE Common Stock 67011P100 120 8,086 SH   OTR   0 8,086 0
OMEGA HEALTHCARE INVESTORS REITS 681936100 476 13,528 SH   SOLE   13,528 0 0
ONE LIBERTY PROPERTIES INC REITS 682406103 2,210 103,595 SH   SOLE   103,595 0 0
PARAMOUNT GROUP INC REITS 69924R108 912 54,300 SH   SOLE   54,300 0 0
PENN REAL ESTATE INVEST TRUST REITS 709102107 228 11,471 SH   SOLE   11,471 0 0
PIEDMONT OFFICE REALTY TRUST REITS 720190206 418 23,372 SH   SOLE   23,372 0 0
POST PROPERTIES INC REITS 737464107 1,317 22,597 SH   SOLE   22,597 0 0
PROCTER GAMBLE CO Common Stock 742718109 445 6,200 SH   OTR   0 6,200 0
PROLOGIS INC REITS 74340W103 1,475 37,923 SH   SOLE   37,923 0 0
PUBLIC STORAGE INC REITS 74460D109 6,325 29,890 SH   SOLE   29,890 0 0
RAMCO GERHENSON PROPERTIES REITS 751452202 177 11,750 SH   SOLE   11,750 0 0
REALTY INCOME CORPORATION REITS 756109104 843 17,800 SH   SOLE   17,800 0 0
REGENCY CENTERS CORP REITS 758849103 458 7,371 SH   SOLE   7,371 0 0
RETAIL PROPERTIES OF AMERICA REITS 76131V202 708 50,314 SH   SOLE   50,314 0 0
SABRA HEALTH CARE REIT INC REITS 78573L106 181 7,800 SH   SOLE   7,800 0 0
SELECT INCOME REIT REITS 81618T100 3,008 158,631 SH   SOLE   158,631 0 0
SENIOR HOUSING PROP TRUST REITS 81721M109 1,118 69,000 SH   SOLE   69,000 0 0
SIMON PROPERTY GROUP INC REITS 828806109 9,010 49,037 SH   SOLE   49,037 0 0
SL GREEN REITS 78440X101 424 3,921 SH   SOLE   3,921 0 0
SOVRAN SELF STORAGE INC REITS 84610H108 423 4,486 SH   SOLE   4,486 0 0
SPIRIT REALTY CAPITAL REITS 84860W102 329 36,015 SH   SOLE   36,015 0 0
STAPLES INC Common Stock 855030102 100 8,500 SH   OTR   0 8,500 0
STRYKER CORP Common Stock 863667101 364 3,875 SH   OTR   0 3,875 0
SUNSTONE HOTEL INVESTORS INC REITS 867892101 225 17,000 SH   SOLE   17,000 0 0
TANGER FACTORY OUTLET CENTERS REITS 875465106 2,581 78,289 SH   SOLE   78,289 0 0
TAUBMAN CENTERS INC REITS 876664103 3,043 44,048 SH   SOLE   44,048 0 0
TELEPHONE AND DATA SYSTEMS Common Stock 879433829 204 8,150 SH   OTR   0 8,150 0
THE MACERICH CO REITS 554382101 1,132 14,734 SH   SOLE   14,734 0 0
TOTAL SYSTEM SERVICES INC Common Stock 891906109 259 5,700 SH   OTR   0 5,700 0
UDR INC REITS 902653104 431 12,502 SH   SOLE   12,502 0 0
URBAN EDGE PROPERTIES REITS 91704F104 86 4,000 SH   SOLE   4,000 0 0
VALMONT INDUSTRIES Common Stock 920253101 204 2,150 SH   OTR   0 2,150 0
VARIAN MEDICAL SYSTEMS Common Stock 92220P105 339 4,600 SH   OTR   0 4,600 0
VENTAS INC REITS 92276F100 5,646 100,741 SH   SOLE   100,741 0 0
VORNADO REALTY TRUST REITS 929042109 2,694 29,795 SH   SOLE   29,795 0 0
WAL-MART STORES INC Common Stock 931142103 399 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 430 12,998 SH   SOLE   12,998 0 0
WELLS FARGO & COMPANY Common Stock 949746101 589 11,475 SH   OTR   0 11,475 0
WELLTOWER INC REITS 95040Q104 2,118 31,283 SH   SOLE   31,283 0 0
WP GLIMCHER INC REITS 92939N102 497 42,673 SH   SOLE   42,673 0 0