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 Common Stock 88579Y101 169 1,025 SH   OTR   0 1,025 0
AETNA INC Common Stock 00817Y108 661 6,200 SH   OTR   0 6,200 0
AFLAC INC Common Stock 001055102 792 12,375 SH   OTR   0 12,375 0
ALEXANDRIA REAL ESTATE EQUIT REITS 015271109 1,034 10,550 SH   SOLE   10,550 0 0
ALLEGHANY CORP Common Stock 017175100 146 300 SH   OTR   0 300 0
AMERICAN CAMPUS COMMUNITIES REITS 024835100 547 12,751 SH   SOLE   12,751 0 0
AMERICAN CAPITAL AGENCY CORP REITS 02503X105 2,789 130,732 SH   SOLE   130,732 0 0
AMERICAN EXPRESS COMPANY Common Stock 025816109 289 3,700 SH   OTR   0 3,700 0
AMERICAN TOWER CORP REITS 03027X100 490 5,200 SH   SOLE   5,200 0 0
APACHE CORP Common Stock 037411105 143 2,375 SH   OTR   0 2,375 0
APARTMENTS INVESTMENT REITS 03748R101 190 4,836 SH   SOLE   4,836 0 0
ASHFORD HOSPITALITY PRIME INC REITS 044102101 140 8,337 SH   SOLE   8,337 0 0
ASSOCIATED ESTATES REALTY CP REITS 045604105 1,029 41,691 SH   SOLE   41,691 0 0
AT & T INC Common Stock 00206R102 523 16,000 SH   OTR   0 16,000 0
AVALONBAY COMMUNITIES INC REITS 053484101 2,375 13,628 SH   SOLE   13,628 0 0
BERKSHIRE HATHAWAY INC. Common Stock 084670702 666 4,600 SH   OTR   0 4,600 0
BIOMED REALTY TRUST INC REITS 09063H107 305 13,476 SH   SOLE   13,476 0 0
BOSTON PROPERTIES INC REITS 101121101 3,819 27,173 SH   SOLE   27,173 0 0
CAMDEN PROPERTY TRUST REITS 133131102 1,684 21,555 SH   SOLE   21,555 0 0
CBL & ASSOCIATES PROPERTIES REITS 124830100 3,074 155,162 SH   SOLE   155,162 0 0
CHAMBERS STREET PROPERTIES REITS 157842105 350 44,500 SH   SOLE   44,500 0 0
CHEVRON CORPORATION Common Stock 166764100 583 5,550 SH   OTR   0 5,550 0
CITIGROUP INC Common Stock 172967424 638 12,375 SH   OTR   0 12,375 0
CORENERGY INFRASTRUCTURE TRUST REITS 21870U205 513 73,979 SH   SOLE   73,979 0 0
CORESITE REALTY CORP REITS 21870Q105 468 9,621 SH   SOLE   9,621 0 0
CORPORATE OFFICE PROPERTIES REITS 22002T108 1,685 57,355 SH   SOLE   57,355 0 0
CORRECTIONS CORP OF AMERICA REITS 22025Y407 2,045 50,758 SH   SOLE   50,758 0 0
CUBESMART REITS 229663109 601 24,900 SH   SOLE   24,900 0 0
DCT INDUSTRIAL TRUST INC REITS 233153204 139 4,000 SH   SOLE   4,000 0 0
DDR CORP REITS 23317H102 819 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 171 2,600 SH   SOLE   2,600 0 0
DOUGLAS EMMETT INC REITS 25960P109 1,557 52,200 SH   SOLE   52,200 0 0
DUKE REALTY CORP REITS 264411505 974 44,765 SH   SOLE   44,765 0 0
DUPONT FABROS TECHNOLOGY INC REITS 26613Q106 4 112 SH   SOLE   112 0 0
EASTGROUP PROPERTIES INC REITS 277276101 668 11,100 SH   SOLE   11,100 0 0
EMERSON ELECTRIC CO Common Stock 291011104 228 4,025 SH   OTR   0 4,025 0
EQUITY COMMONWEALTH REITS 294628102 1,311 49,406 SH   SOLE   49,406 0 0
EQUITY LIFESTYLE PROPERTIES REITS 29472R108 1,134 20,656 SH   SOLE   20,656 0 0
EQUITY ONE INC REITS 294752100 741 27,770 SH   SOLE   27,770 0 0
EQUITY RESIDENTIAL PROPS TR REITS 29476L107 4,188 53,776 SH   SOLE   53,776 0 0
ESSEX PROPERTY TRUST INC REITS 297178105 255 1,110 SH   SOLE   1,110 0 0
FEDERAL REALTY INVS TRUST REITS 313747206 958 6,507 SH   SOLE   6,507 0 0
FIRST INDUSTRIAL REALTY TR REITS 32054K103 690 32,200 SH   SOLE   32,200 0 0
FIRST POTOMAC REALTY TRUST REITS 33610F109 106 8,900 SH   SOLE   8,900 0 0
FRANLKLIN STREET PROPERTIES C REITS 35471R106 170 13,314 SH   SOLE   13,314 0 0
GENERAL GROWTH PROPERTIES REITS 370023103 1,542 52,162 SH   SOLE   52,162 0 0
HCP INC REITS 40414L109 4,786 110,750 SH   SOLE   110,750 0 0
HEALTH CARE REIT INC REITS 42217K106 1,299 16,783 SH   SOLE   16,783 0 0
HEALTHCARE TRUST OF AMERICA IN REITS 42225P501 561 20,150 SH   SOLE   20,150 0 0
HOME PROPERTIES INC REITS 437306103 1,527 22,060 SH   SOLE   22,060 0 0
HOSPITALITY PROPERTIES TRUST REITS 44106M102 712 21,568 SH   SOLE   21,568 0 0
HOST HOTELS & RESORTS INC REITS 44107P104 2,281 113,048 SH   SOLE   113,048 0 0
INTEL CORP Common Stock 458140100 417 13,325 SH   OTR   0 13,325 0
IRON MOUNTAIN INC REITS 46284V101 1,856 50,900 SH   SOLE   50,900 0 0
ISHARES Iboxx Investment Grade Corporate Bond Fund Exchange Traded Fund 464287242 1,911 15,700 SH   SOLE   15,700 0 0
KILROY REALTY CORP REITS 49427F108 174 2,280 SH   SOLE   2,280 0 0
KIMCO REALTY CORP REITS 49446R109 2,145 79,877 SH   SOLE   79,877 0 0
KITE REALTY GROUP TRUST REITS 49803T300 358 12,725 SH   SOLE   12,725 0 0
LASALLE HOTEL PROPERTIES REITS 517942108 155 4,000 SH   SOLE   4,000 0 0
LIBERTY PROPERTY TRUST REITS 531172104 673 18,850 SH   SOLE   18,850 0 0
LTC PROPERTIES INC REITS 502175102 131 2,856 SH   SOLE   2,856 0 0
MACK-CALI REALTY CORPORATION REITS 554489104 94 4,879 SH   SOLE   4,879 0 0
MICROSOFT CORP Common Stock 594918104 542 13,325 SH   OTR   0 13,325 0
MID-AMERICA APARTMENT COMM INC REITS 59522J103 213 2,755 SH   SOLE   2,755 0 0
NATIONAL OILWELL VARCO INC Common Stock 637071101 347 6,950 SH   OTR   0 6,950 0
NEW YORK REIT INC REITS 64976L109 341 32,600 SH   SOLE   32,600 0 0
NOW INC/DE Common Stock 67011P100 124 5,736 SH   OTR   0 5,736 0
ONE LIBERTY PROPERTIES INC REITS 682406103 1,473 60,329 SH   SOLE   60,329 0 0
PARAMOUNT GROUP INC REITS 69924R108 752 39,000 SH   SOLE   39,000 0 0
PENN REAL ESTATE INVEST TRUST REITS 709102107 173 7,471 SH   SOLE   7,471 0 0
PIEDMONT OFFICE REALTY TRUST REITS 720190206 26 1,407 SH   SOLE   1,407 0 0
POST PROPERTIES INC REITS 737464107 416 7,302 SH   SOLE   7,302 0 0
PROCTER GAMBLE CO Common Stock 742718109 563 6,875 SH   OTR   0 6,875 0
PROLOGIS INC REITS 74340W103 1,957 44,923 SH   SOLE   44,923 0 0
PUBLIC STORAGE INC REITS 74460D109 6,308 31,990 SH   SOLE   31,990 0 0
RAMCO GERHENSON PROPERTIES REITS 751452202 219 11,750 SH   SOLE   11,750 0 0
REALTY INCOME CORPORATION REITS 756109104 351 6,800 SH   SOLE   6,800 0 0
REGENCY CENTERS CORP REITS 758849103 502 7,371 SH   SOLE   7,371 0 0
RETAIL PROPERTIES OF AMERICA REITS 76131V202 454 28,314 SH   SOLE   28,314 0 0
SELECT INCOME REIT REITS 81618T100 2,675 107,131 SH   SOLE   107,131 0 0
SIMON PROPERTY GROUP INC REITS 828806109 8,398 42,937 SH   SOLE   42,937 0 0
SL GREEN REITS 78440X101 503 3,921 SH   SOLE   3,921 0 0
SOVRAN SELF STORAGE INC REITS 84610H108 515 5,486 SH   SOLE   5,486 0 0
SPIRIT REALTY CAPITAL REITS 84860W102 447 37,015 SH   SOLE   37,015 0 0
STAPLES INC Common Stock 855030102 138 8,500 SH   OTR   0 8,500 0
STRYKER CORP Common Stock 863667101 498 5,400 SH   OTR   0 5,400 0
TANGER FACTORY OUTLET CENTERS REITS 875465106 1,236 35,161 SH   SOLE   35,161 0 0
TAUBMAN CENTERS INC REITS 876664103 2,603 33,748 SH   SOLE   33,748 0 0
TELEPHONE AND DATA SYSTEMS Common Stock 879433829 259 10,400 SH   OTR   0 10,400 0
THE MACERICH CO REITS 554382101 753 8,934 SH   SOLE   8,934 0 0
TOTAL SYSTEM SERVICES INC Common Stock 891906109 271 7,100 SH   OTR   0 7,100 0
UDR INC REITS 902653104 286 8,402 SH   SOLE   8,402 0 0
URBAN EDGE PROPERTIES REITS 91704F104 184 7,747 SH   SOLE   7,747 0 0
VALMONT INDUSTRIES Common Stock 920253101 264 2,150 SH   OTR   0 2,150 0
VARIAN MEDICAL SYSTEMS Common Stock 92220P105 527 5,600 SH   OTR   0 5,600 0
VENTAS INC REITS 92276F100 5,690 77,915 SH   SOLE   77,915 0 0
VORNADO REALTY TRUST REITS 929042109 2,963 26,495 SH   SOLE   26,495 0 0
WAL-MART STORES INC Common Stock 931142103 551 6,700 SH   OTR   0 6,700 0
WASHINGTON REAL ESTATE INV REITS 939653101 1 32 SH   SOLE   32 0 0
WEINGARTEN REALTY INVST REITS 948741103 108 2,998 SH   SOLE   2,998 0 0
WELLS FARGO & COMPANY Common Stock 949746101 659 12,100 SH   OTR   0 12,100 0
WP GLIMCHER INC REITS 92939N102 310 18,673 SH   SOLE   18,673 0 0