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 139 915 SH   OTR   0 915 0
Aflac Inc Common Stock 001055102 396 5,100 SH   OTR   0 5,100 0
AGNC Investment Corp REITS 00123Q104 145 6,832 SH   SOLE   6,832 0 0
Alexandria Real Estate Eqtys. REITS 015271109 1,133 9,404 SH   SOLE   9,404 0 0
Alleghany Corporation Common Stock 017175100 155 260 SH   OTR   0 260 0
American Campus Communities REITS 024835100 650 13,751 SH   SOLE   13,751 0 0
American Express Company Common Stock 025816109 566 6,713 SH   OTR   0 6,713 0
Apache Corporation Common Stock 037411105 148 3,085 SH   OTR   0 3,085 0
Apartment Investmnt & Managemt REITS 03748R101 1,005 23,394 SH   SOLE   23,394 0 0
AT&T Inc Common Stock 00206R102 406 10,770 SH   OTR   0 10,770 0
AutoZone Inc Common Stock 053332102 285 500 SH   OTR   0 500 0
AvalonBay Communities, Inc. REITS 053484101 4,376 22,774 SH   SOLE   22,774 0 0
Berkshire Hathaway Inc Common Stock 084670702 612 3,614 SH   OTR   0 3,614 0
Boston Properties, Inc. REITS 101121101 3,499 28,443 SH   SOLE   28,443 0 0
Brandywine Realty Trust REITS 105368203 140 8,000 SH   SOLE   8,000 0 0
Brixmor Property Group, Inc. REITS 11120U105 465 26,000 SH   SOLE   26,000 0 0
Camden Property Trust REITS 133131102 791 9,255 SH   SOLE   9,255 0 0
Care Capital Properties, Inc. REITS 141624106 2,387 89,394 SH   SOLE   89,394 0 0
CBL & Associates Properties REITS 124830100 1,269 150,515 SH   SOLE   150,515 0 0
Chevron Corporation Common Stock 166764100 332 3,180 SH   OTR   0 3,180 0
Citigroup Inc Common Stock 172967424 379 5,665 SH   OTR   0 5,665 0
City Office REIT, Inc. REITS 178587101 221 17,400 SH   SOLE   17,400 0 0
CoreCivic, Inc. REITS 21871N101 174 6,319 SH   SOLE   6,319 0 0
CorEnergy Infrastructure Trust REITS 21870U502 261 7,768 SH   SOLE   7,768 0 0
Corporate Office Properties REITS 22002T108 685 19,555 SH   SOLE   19,555 0 0
CubeSmart REITS 229663109 906 37,700 SH   SOLE   37,700 0 0
DCT Industrial Trust, Inc. REITS 233153204 99 1,860 SH   SOLE   1,860 0 0
DDR Corporation REITS 23317H102 690 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 338 2,990 SH   SOLE   2,990 0 0
Douglas Emmett, Inc. REITS 25960P109 397 10,400 SH   SOLE   10,400 0 0
Duke Realty Corporation REITS 264411505 867 31,005 SH   SOLE   31,005 0 0
DuPont Fabros Technology, Inc. REITS 26613Q106 7 112 SH   SOLE   112 0 0
EastGroup Properties, Inc. REITS 277276101 196 2,340 SH   SOLE   2,340 0 0
Empire State Realty Trust Inc. REITS 292104106 218 10,494 SH   SOLE   10,494 0 0
Equity Commonwealth REITS 294628102 488 15,431 SH   SOLE   15,431 0 0
Equity LifeStyle Properties, I REITS 29472R108 1,982 22,956 SH   SOLE   22,956 0 0
Equity Residential REITS 29476L107 4,435 67,376 SH   SOLE   67,376 0 0
Essex Property Trust, Inc. REITS 297178105 1,272 4,945 SH   SOLE   4,945 0 0
Extra Space Storage, Inc. REITS 30225T102 4,196 53,800 SH   SOLE   53,800 0 0
ExxonMobil Corporation Common Stock 30231G102 251 3,105 SH   OTR   0 3,105 0
Federal Realty Investment REITS 313747206 1,076 8,517 SH   SOLE   8,517 0 0
First Industrial Realty Trust REITS 32054K103 263 9,200 SH   SOLE   9,200 0 0
First Potomac Realty Trust REITS 33610F109 81 7,300 SH   SOLE   7,300 0 0
FIVE OAKS INVESTMENT CORP REITS 33830W106 62 12,687 SH   SOLE   12,687 0 0
Forest City Realty Trust, Inc. REITS 345605109 885 36,600 SH   SOLE   36,600 0 0
Franklin Street Properties Cor REITS 35471R106 132 11,914 SH   SOLE   11,914 0 0
GGP, Inc. REITS 36174X101 5,993 254,362 SH   SOLE   254,362 0 0
HCP, Inc. REITS 40414L109 2,260 70,715 SH   SOLE   70,715 0 0
Healthcare Trust of America REITS 42225P501 188 6,030 SH   SOLE   6,030 0 0
Hospitality Properties Trust REITS 44106M102 690 23,667 SH   SOLE   23,667 0 0
Host Hotels & Resorts Inc. REITS 44107P104 1,481 81,038 SH   SOLE   81,038 0 0
HYSTER YALE MATERIALS Common Stock 449172105 195 2,775 SH   OTR   0 2,775 0
Intel Corporation Common Stock 458140100 211 6,265 SH   OTR   0 6,265 0
Iron Mountain, Inc. REITS 46284V101 29 853 SH   SOLE   853 0 0
Kilroy Realty Corporation REITS 49427F108 171 2,280 SH   SOLE   2,280 0 0
Kimco Realty Corporation REITS 49446R109 467 25,437 SH   SOLE   25,437 0 0
Kite Realty Group Trust REITS 49803T300 216 11,405 SH   SOLE   11,405 0 0
LaSalle Hotel Properties REITS 517942108 755 25,324 SH   SOLE   25,324 0 0
Liberty Property Trust REITS 531172104 157 3,850 SH   SOLE   3,850 0 0
Life Storage, Inc. REITS 53223X107 3,911 52,776 SH   SOLE   52,776 0 0
LTC Properties, Inc. REITS 502175102 83 1,620 SH   SOLE   1,620 0 0
Macerich Company REITS 554382101 3,712 63,934 SH   SOLE   63,934 0 0
Mack-Cali Realty Corp. REITS 554489104 442 16,278 SH   SOLE   16,278 0 0
Microsoft Corporation Common Stock 594918104 521 7,565 SH   OTR   0 7,565 0
Mid-America Apt. Communities REITS 59522J103 1,978 18,771 SH   SOLE   18,771 0 0
National Oilwell Varco Inc Common Stock 637071101 286 8,671 SH   OTR   0 8,671 0
New York REIT, Inc. REITS 64976L109 420 48,654 SH   SOLE   48,654 0 0
NOW Inc Common Stock 67011P100 180 11,166 SH   OTR   0 11,166 0
Omega Healthcare Investors Inc REITS 681936100 447 13,528 SH   SOLE   13,528 0 0
One Liberty Properties, Inc. REITS 682406103 1,162 49,577 SH   SOLE   49,577 0 0
OWENS REALTY MORTGAGE INC REITS 690828108 284 16,742 SH   SOLE   16,742 0 0
Paramount Group, Inc. REITS 69924R108 1,180 73,777 SH   SOLE   73,777 0 0
Pennsylvania REIT REITS 709102107 332 29,291 SH   SOLE   29,291 0 0
Piedmont Office Realty Trust REITS 720190206 429 20,372 SH   SOLE   20,372 0 0
Procter & Gamble Co Common Stock 742718109 194 2,226 SH   OTR   0 2,226 0
Prologis, Inc. REITS 74340W103 1,432 24,423 SH   SOLE   24,423 0 0
Public Storage REITS 74460D109 7,822 37,509 SH   SOLE   37,509 0 0
Quality Care Properties REITS 747545101 472 25,788 SH   SOLE   25,788 0 0
Ramco-Gershenson Properties REITS 751452202 152 11,750 SH   SOLE   11,750 0 0
Regency Centers Corporation REITS 758849103 462 7,371 SH   SOLE   7,371 0 0
Retail Properties of America REITS 76131V202 580 47,514 SH   SOLE   47,514 0 0
Select Income REIT REITS 81618T100 2,360 98,226 SH   SOLE   98,226 0 0
Senior Housing Properties Trus REITS 81721M109 580 28,400 SH   SOLE   28,400 0 0
Simon Property Group, Inc. REITS 828806109 11,053 68,330 SH   SOLE   68,330 0 0
SL Green Realty Corporation REITS 78440X101 944 8,921 SH   SOLE   8,921 0 0
Spirit Realty Capital, Inc. REITS 84860W102 608 82,015 SH   SOLE   82,015 0 0
Staples Inc Common Stock 855030102 191 18,930 SH   OTR   0 18,930 0
STORE Capital Corporation REITS 862121100 326 14,500 SH   SOLE   14,500 0 0
Stryker Corporation Common Stock 863667101 314 2,265 SH   OTR   0 2,265 0
Sun Communities, Inc. REITS 866674104 868 9,900 SH   SOLE   9,900 0 0
Sunstone Hotel Investors, Inc. REITS 867892101 268 16,616 SH   SOLE   16,616 0 0
Tanger Factory Outlet Ctrs Inc REITS 875465106 3,972 152,889 SH   SOLE   152,889 0 0
Taubman Centers, Inc. REITS 876664103 2,778 46,648 SH   SOLE   46,648 0 0
Telephone & Data Systems Inc Common Stock 879433829 121 4,368 SH   OTR   0 4,368 0
Tier REIT, Inc. REITS 88650V208 1,024 55,438 SH   SOLE   55,438 0 0
UDR, Inc. REITS 902653104 438 11,242 SH   SOLE   11,242 0 0
Uniti Group, Inc. REITS 91325V108 1,972 78,435 SH   SOLE   78,435 0 0
Valmont Industries Inc Common Stock 920253101 174 1,166 SH   OTR   0 1,166 0
Varex Imaging Corp Common Stock 92214X106 243 7,198 SH   OTR   0 7,198 0
Varian Medical Systems Inc Common Stock 92220P105 282 2,730 SH   OTR   0 2,730 0
Ventas, Inc. REITS 92276F100 3,755 54,041 SH   SOLE   54,041 0 0
VEREIT, Inc. REITS 92339V100 98 12,000 SH   SOLE   12,000 0 0
Vornado Realty Trust REITS 929042109 3,091 32,915 SH   SOLE   32,915 0 0
Wal-Mart Stores Inc Common Stock 931142103 258 3,408 SH   OTR   0 3,408 0
Washington Prime Grp,Inc. REITS 93964W108 683 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 473 15,698 SH   SOLE   15,698 0 0
Wells Fargo & Company Common Stock 949746101 607 10,960 SH   OTR   0 10,960 0
Welltower, Inc. REITS 95040Q104 4,011 53,583 SH   SOLE   53,583 0 0
Whitestone REIT REITS 966084204 245 20,000 SH   SOLE   20,000 0 0