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
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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 123 965 SH   OTR   0 965 0
Aflac Inc Common Stock 001055102 408 5,630 SH   OTR   0 5,630 0
AGNC Investment Corp REITS 00123Q104 136 6,832 SH   SOLE   6,832 0 0
Alexandria Real Estate Eqtys. REITS 015271109 1,039 9,404 SH   SOLE   9,404 0 0
Alleghany Corporation Common Stock 017175100 184 300 SH   OTR   0 300 0
American Campus Communities REITS 024835100 654 13,751 SH   SOLE   13,751 0 0
American Express Company Common Stock 025816109 560 7,073 SH   OTR   0 7,073 0
American Tower Corporation REITS 03027X100 352 2,900 SH   SOLE   2,900 0 0
Apache Corporation Common Stock 037411105 185 3,605 SH   OTR   0 3,605 0
Apartment Investmnt & Managemt REITS 03748R101 1,038 23,394 SH   SOLE   23,394 0 0
AT&T Inc Common Stock 00206R102 467 11,250 SH   OTR   0 11,250 0
AvalonBay Communities, Inc. REITS 053484101 4,732 25,774 SH   SOLE   25,774 0 0
Berkshire Hathaway Inc Common Stock 084670702 634 3,804 SH   OTR   0 3,804 0
Boston Properties, Inc. REITS 101121101 3,634 27,443 SH   SOLE   27,443 0 0
Brandywine Realty Trust REITS 105368203 130 8,000 SH   SOLE   8,000 0 0
Brixmor Property Group, Inc. REITS 11120U105 558 26,000 SH   SOLE   26,000 0 0
Camden Property Trust REITS 133131102 745 9,255 SH   SOLE   9,255 0 0
Care Capital Properties, Inc. REITS 141624106 2,402 89,394 SH   SOLE   89,394 0 0
CBL & Associates Properties REITS 124830100 635 66,515 SH   SOLE   66,515 0 0
Chevron Corporation Common Stock 166764100 376 3,500 SH   OTR   0 3,500 0
Citigroup Inc Common Stock 172967424 366 6,115 SH   OTR   0 6,115 0
City Office REIT, Inc. REITS 178587101 211 17,400 SH   SOLE   17,400 0 0
CoreCivic, Inc. REITS 21871N101 513 16,319 SH   SOLE   16,319 0 0
CorEnergy Infrastructure Trust REITS 21870U502 396 11,720 SH   SOLE   11,720 0 0
Corporate Office Properties REITS 22002T108 647 19,555 SH   SOLE   19,555 0 0
CubeSmart REITS 229663109 979 37,700 SH   SOLE   37,700 0 0
DCT Industrial Trust, Inc. REITS 233153204 90 1,860 SH   SOLE   1,860 0 0
DDR Corporation REITS 23317H102 953 76,064 SH   SOLE   76,064 0 0
DiamondRock Hospitality Co. REITS 252784301 3 282 SH   SOLE   282 0 0
Digital Realty Trust, Inc. REITS 253868103 318 2,990 SH   SOLE   2,990 0 0
Douglas Emmett, Inc. REITS 25960P109 399 10,400 SH   SOLE   10,400 0 0
Duke Realty Corporation REITS 264411505 815 31,005 SH   SOLE   31,005 0 0
DuPont Fabros Technology, Inc. REITS 26613Q106 6 112 SH   SOLE   112 0 0
EastGroup Properties, Inc. REITS 277276101 172 2,340 SH   SOLE   2,340 0 0
Emerson Electric Co Common Stock 291011104 237 3,965 SH   OTR   0 3,965 0
Empire State Realty Trust Inc. REITS 292104106 217 10,494 SH   SOLE   10,494 0 0
Equity Commonwealth REITS 294628102 482 15,431 SH   SOLE   15,431 0 0
Equity LifeStyle Properties, I REITS 29472R108 2,154 27,956 SH   SOLE   27,956 0 0
Equity Residential REITS 29476L107 4,503 72,376 SH   SOLE   72,376 0 0
Essex Property Trust, Inc. REITS 297178105 2,071 8,945 SH   SOLE   8,945 0 0
Extra Space Storage, Inc. REITS 30225T102 4,002 53,800 SH   SOLE   53,800 0 0
ExxonMobil Corporation Common Stock 30231G102 301 3,675 SH   OTR   0 3,675 0
Federal Realty Investment REITS 313747206 1,137 8,517 SH   SOLE   8,517 0 0
First Industrial Realty Trust REITS 32054K103 245 9,200 SH   SOLE   9,200 0 0
First Potomac Realty Trust REITS 33610F109 75 7,300 SH   SOLE   7,300 0 0
FIVE OAKS INVESTMENT CORP REITS 33830W106 65 12,687 SH   SOLE   12,687 0 0
Forest City Realty Trust, Inc. REITS 345605109 797 36,600 SH   SOLE   36,600 0 0
Franklin Street Properties Cor REITS 35471R106 145 11,914 SH   SOLE   11,914 0 0
GGP, Inc. REITS 36174X101 4,389 189,362 SH   SOLE   189,362 0 0
HCP, Inc. REITS 40414L109 2,712 86,715 SH   SOLE   86,715 0 0
Healthcare Trust of America REITS 42225P501 190 6,030 SH   SOLE   6,030 0 0
Hospitality Properties Trust REITS 44106M102 746 23,667 SH   SOLE   23,667 0 0
Host Hotels & Resorts Inc. REITS 44107P104 1,699 91,038 SH   SOLE   91,038 0 0
HYSTER YALE MATERIALS Common Stock 449172105 173 3,075 SH   OTR   0 3,075 0
Intel Corporation Common Stock 458140100 236 6,555 SH   OTR   0 6,555 0
Iron Mountain, Inc. REITS 46284V101 30 853 SH   SOLE   853 0 0
Kilroy Realty Corporation REITS 49427F108 164 2,280 SH   SOLE   2,280 0 0
Kimco Realty Corporation REITS 49446R109 562 25,437 SH   SOLE   25,437 0 0
Kite Realty Group Trust REITS 49803T300 245 11,405 SH   SOLE   11,405 0 0
LaSalle Hotel Properties REITS 517942108 733 25,324 SH   SOLE   25,324 0 0
Liberty Property Trust REITS 531172104 148 3,850 SH   SOLE   3,850 0 0
Life Storage, Inc. REITS 53223X107 3,578 43,576 SH   SOLE   43,576 0 0
LTC Properties, Inc. REITS 502175102 78 1,620 SH   SOLE   1,620 0 0
Macerich Company REITS 554382101 1,477 22,934 SH   SOLE   22,934 0 0
Mack-Cali Realty Corp. REITS 554489104 439 16,278 SH   SOLE   16,278 0 0
Microsoft Corporation Common Stock 594918104 550 8,355 SH   OTR   0 8,355 0
Mid-America Apt. Communities REITS 59522J103 1,910 18,771 SH   SOLE   18,771 0 0
National Oilwell Varco Inc Common Stock 637071101 408 10,171 SH   OTR   0 10,171 0
New York REIT, Inc. REITS 64976L109 471 48,654 SH   SOLE   48,654 0 0
NOW Inc Common Stock 67011P100 164 9,646 SH   OTR   0 9,646 0
Omega Healthcare Investors Inc REITS 681936100 446 13,528 SH   SOLE   13,528 0 0
One Liberty Properties, Inc. REITS 682406103 1,158 49,577 SH   SOLE   49,577 0 0
OWENS REALTY MORTGAGE INC REITS 690828108 298 16,742 SH   SOLE   16,742 0 0
Paramount Group, Inc. REITS 69924R108 1,196 73,777 SH   SOLE   73,777 0 0
Pennsylvania REIT REITS 709102107 141 9,291 SH   SOLE   9,291 0 0
Piedmont Office Realty Trust REITS 720190206 436 20,372 SH   SOLE   20,372 0 0
Procter & Gamble Co Common Stock 742718109 269 2,996 SH   OTR   0 2,996 0
Prologis, Inc. REITS 74340W103 1,475 28,423 SH   SOLE   28,423 0 0
Public Storage REITS 74460D109 7,773 35,509 SH   SOLE   35,509 0 0
Quality Care Properties REITS 747545101 486 25,788 SH   SOLE   25,788 0 0
Ramco-Gershenson Properties REITS 751452202 165 11,750 SH   SOLE   11,750 0 0
Regency Centers Corporation REITS 758849103 489 7,371 SH   SOLE   7,371 0 0
Retail Properties of America REITS 76131V202 685 47,514 SH   SOLE   47,514 0 0
Select Income REIT REITS 81618T100 2,275 88,226 SH   SOLE   88,226 0 0
Senior Housing Properties Trus REITS 81721M109 575 28,400 SH   SOLE   28,400 0 0
Simon Property Group, Inc. REITS 828806109 9,897 57,530 SH   SOLE   57,530 0 0
SL Green Realty Corporation REITS 78440X101 951 8,921 SH   SOLE   8,921 0 0
Spirit Realty Capital, Inc. REITS 84860W102 223 22,015 SH   SOLE   22,015 0 0
Staples Inc Common Stock 855030102 274 31,260 SH   OTR   0 31,260 0
STORE Capital Corporation REITS 862121100 346 14,500 SH   SOLE   14,500 0 0
Stryker Corporation Common Stock 863667101 343 2,605 SH   OTR   0 2,605 0
Sun Communities, Inc. REITS 866674104 949 11,817 SH   SOLE   11,817 0 0
Sunstone Hotel Investors, Inc. REITS 867892101 255 16,616 SH   SOLE   16,616 0 0
Tanger Factory Outlet Ctrs Inc REITS 875465106 3,863 117,889 SH   SOLE   117,889 0 0
Taubman Centers, Inc. REITS 876664103 1,812 27,448 SH   SOLE   27,448 0 0
Telephone & Data Systems Inc Common Stock 879433829 167 6,298 SH   OTR   0 6,298 0
Tier REIT, Inc. REITS 88650V208 962 55,438 SH   SOLE   55,438 0 0
UDR, Inc. REITS 902653104 408 11,242 SH   SOLE   11,242 0 0
Uniti Group, Inc. REITS 91325V108 2,208 85,435 SH   SOLE   85,435 0 0
Valmont Industries Inc Common Stock 920253101 192 1,236 SH   OTR   0 1,236 0
Varex Imaging Corp Common Stock 92214X106 255 7,598 SH   OTR   0 7,598 0
Varian Medical Systems Inc Common Stock 92220P105 342 3,750 SH   OTR   0 3,750 0
Ventas, Inc. REITS 92276F100 3,515 54,041 SH   SOLE   54,041 0 0
VEREIT, Inc. REITS 92339V100 102 12,000 SH   SOLE   12,000 0 0
Vornado Realty Trust REITS 929042109 3,101 30,915 SH   SOLE   30,915 0 0
Wal-Mart Stores Inc Common Stock 931142103 351 4,868 SH   OTR   0 4,868 0
Washington Prime Grp,Inc. REITS 93964W108 709 81,573 SH   SOLE   81,573 0 0
Washington Real Estate Invmt REITS 939653101 1 32 SH   SOLE   32 0 0
Weingarten Realty Investors REITS 948741103 524 15,698 SH   SOLE   15,698 0 0
Wells Fargo & Company Common Stock 949746101 647 11,630 SH   OTR   0 11,630 0
Welltower, Inc. REITS 95040Q104 4,361 61,583 SH   SOLE   61,583 0 0