Independent Order of Foresters 13F-HR Quarterly holdings report by institutional manager

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

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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
3M Co	Common Stock	88579Y101	569	5,200	SH		OTR	0	0	5,200	0
Acadia Realty Trust	REITS	004239109	11	445	SH		SOLE	0	445	0	0
Aetna Inc	Common Stock	00817Y108	712	11,200	SH		OTR	0	0	11,200	0
Aflac Inc	Common Stock	001055102	601	10,350	SH		OTR	0	0	10,350	0
Agree Realty Corp	REITS	008492100	313	10,603	SH		SOLE	0	10,603	0	0
Alexandria Real Estate Equit	REITS	015271109	404	6,150	SH		SOLE	0	6,150	0	0
American Campus Communities	REITS	024835100	502	12,351	SH		SOLE	0	12,351	0	0
American Capital Agency Corp	REITS	02503X105	1,336	58,100	SH		SOLE	0	58,100	0	0
Annaly Capital Management Inc	REITS	035710409	3	200	SH		SOLE	0	200	0	0
Apartments Investment	REITS	03748R101	303	10,094	SH		SOLE	0	10,094	0	0
Associated Estates Realty CP	REITS	045604105	1,400	87,141	SH		SOLE	0	87,141	0	0
Avalonbay Communities Inc	REITS	053484101	1,920	14,228	SH		SOLE	0	14,228	0	0
Berkshire Hathaway Inc.	Common Stock	084670702	649	5,800	SH		OTR	0	0	5,800	0
Biomed Realty Trust Inc	REITS	09063H107	686	33,900	SH		SOLE	0	33,900	0	0
Boston Properties Inc	REITS	101121101	1,537	14,573	SH		SOLE	0	14,573	0	0
Brandywine Realty Trust	REITS	105368203	218	16,192	SH		SOLE	0	16,192	0	0
BRE Properties Inc	REITS	05564E106	85	1,700	SH		SOLE	0	1,700	0	0
Camden Property Trust	REITS	133131102	1,055	15,263	SH		SOLE	0	15,263	0	0
CapLease Inc	REITS	140288101	1,658	196,486	SH		SOLE	0	196,486	0	0
CBL & Associates Properties	REITS	124830100	2,105	98,362	SH		SOLE	0	98,362	0	0
Cedar Shopping Centers Inc	REITS	150602209	125	24,175	SH		SOLE	0	24,175	0	0
Chevron Corporation	Common Stock	166764100	621	5,250	SH		OTR	0	0	5,250	0
Colonial Properties Trust	REITS	195872106	171	7,098	SH		SOLE	0	7,098	0	0
Commonwealth Reit	REITS	203233101	360	15,549	SH		SOLE	0	15,549	0	0
Corporate Office Properties	REITS	22002T108	357	13,988	SH		SOLE	0	13,988	0	0
Cousins Properties Inc	REITS	222795106	98	9,691	SH		SOLE	0	9,691	0	0
Cubesmart	REITS	229663109	50	3,100	SH		SOLE	0	3,100	0	0
DCT Industrial Trust Inc	REITS	233153105	65	9,100	SH		SOLE	0	9,100	0	0
DDR Corp	REITS	23317H102	682	40,964	SH		SOLE	0	40,964	0	0
Diamondrock Hospitality Co	REITS	252784301	221	23,782	SH		SOLE	0	23,782	0	0
Digital Realty Trust Inc	REITS	253868103	836	13,700	SH		SOLE	0	13,700	0	0
Douglas Emmett Inc	REITS	25960P109	167	6,700	SH		SOLE	0	6,700	0	0
Duke Realty Corp	REITS	264411505	885	56,765	SH		SOLE	0	56,765	0	0
DuPont Fabros Technology Inc	REITS	26613Q106	3	112	SH		SOLE	0	112	0	0
EastGroup Properties Inc	REITS	277276101	90	1,600	SH		SOLE	0	1,600	0	0
Education Realty Trust Inc	REITS	28140H104	33	3,200	SH		SOLE	0	3,200	0	0
Emerson Electric Co	Common Stock	291011104	409	7,500	SH		OTR	0	0	7,500	0
Equity Lifestyle Properties	REITS	29472R108	582	7,403	SH		SOLE	0	7,403	0	0
Equity One Inc	REITS	294752100	90	3,970	SH		SOLE	0	3,970	0	0
Equity Residential Props Tr	REITS	29476L107	1,811	31,176	SH		SOLE	0	31,176	0	0
Essex Property Trust Inc	REITS	297178105	242	1,520	SH		SOLE	0	1,520	0	0
Excel Trust Inc	REITS	30068C109	445	34,732	SH		SOLE	0	34,732	0	0
Extra Space Storage Inc	REITS	30225T102	231	5,500	SH		SOLE	0	5,500	0	0
Federal Realty Invs Trust	REITS	313747206	612	5,907	SH		SOLE	0	5,907	0	0
First Industrial Realty Tr	REITS	32054K103	44	2,900	SH		SOLE	0	2,900	0	0
First Potomac Realty Trust	REITS	33610F109	116	8,900	SH		SOLE	0	8,900	0	0
Franlklin Street Properties C	REITS	35471R106	633	48,114	SH		SOLE	0	48,114	0	0
General Growth Properties	REITS	370023103	123	6,162	SH		SOLE	0	6,162	0	0
Glimcher Realty Trust	REITS	379302102	216	19,739	SH		SOLE	0	19,739	0	0
Government Properties Income	REITS	38376A103	373	14,800	SH		SOLE	0	14,800	0	0
HCP Inc	REITS	40414L109	1,498	32,950	SH		SOLE	0	32,950	0	0
Health Care Reit Inc	REITS	42217K106	1,085	16,183	SH		SOLE	0	16,183	0	0
Healthcare Realty Trust Inc	REITS	421946104	99	3,900	SH		SOLE	0	3,900	0	0
Hersha Hospitality Trust	REITS	427825104	5	900	SH		SOLE	0	900	0	0
Highwood Properties Inc	REITS	431284108	427	12,000	SH		SOLE	0	12,000	0	0
Home Properties Inc	REITS	437306103	69	1,060	SH		SOLE	0	1,060	0	0
Hospitality Properties Trust	REITS	44106M102	2,559	97,354	SH		SOLE	0	97,354	0	0
Host Hotels & Resorts Inc	REITS	44107P104	557	33,048	SH		SOLE	0	33,048	0	0
Inland Real Estate Corp	REITS	457461200	360	35,300	SH		SOLE	0	35,300	0	0
Intel Corp	Common Stock	458140100	659	27,200	SH		OTR	0	0	27,200	0
Investors Real Estate Trust	REITS	461730103	9	992	SH		SOLE	0	992	0	0
Ishares Iboxx Investment Grade Corporate Bond Fund	Exchange Traded Fund	464287242	24,136	212,500	SH		SOLE	0	212,500	0	0
ISTAR FINANCIAL INC	REITS	45031U101	2	216	SH		SOLE	0	216	0	0
Kilroy Realty Corp	REITS	49427F108	121	2,280	SH		SOLE	0	2,280	0	0
Kimco Realty Corp	REITS	49446R109	1,101	51,377	SH		SOLE	0	51,377	0	0
Kite Realty Group Trust	REITS	49803T102	46	7,700	SH		SOLE	0	7,700	0	0
LaSalle Hotel Properties	REITS	517942108	217	8,800	SH		SOLE	0	8,800	0	0
Lexington Realty Trust	REITS	529043101	1,719	147,320	SH		SOLE	0	147,320	0	0
Liberty Property Trust	REITS	531172104	967	26,150	SH		SOLE	0	26,150	0	0
LTC Properties Inc	REITS	502175102	295	7,556	SH		SOLE	0	7,556	0	0
Mack-Cali Realty Corporation	REITS	554489104	1,491	60,900	SH		SOLE	0	60,900	0	0
McKesson Corp	Common Stock	58155Q103	470	4,100	SH		OTR	0	0	4,100	0
Microsoft Corp	Common Stock	594918104	687	19,900	SH		OTR	0	0	19,900	0
Mid-America Apartment Comm Inc	REITS	59522J103	1,159	17,100	SH		SOLE	0	17,100	0	0
Monmouth REIT Class A	REITS	609720107	1,059	107,489	SH		SOLE	0	107,489	0	0
MPG Offixce Trust	REITS	553274101	243	78,000	SH		SOLE	0	78,000	0	0
National Retail Properties	REITS	637417106	107	3,100	SH		SOLE	0	3,100	0	0
Natl Health Investors Inc	REITS	63633D104	54	900	SH		SOLE	0	900	0	0
Omega Healthcare Investors	REITS	681936100	736	23,726	SH		SOLE	0	23,726	0	0
One Liberty Properties Inc	REITS	682406103	1,891	86,094	SH		SOLE	0	86,094	0	0
Parkway Properties Inc	REITS	70159Q104	50	2,973	SH		SOLE	0	2,973	0	0
Penn Real Estate Invest Trust	REITS	709102107	547	28,978	SH		SOLE	0	28,978	0	0
Pfizer Inc	Common Stock	717081103	404	14,400	SH		OTR	0	0	14,400	0
Piedmont Office Realty Trust	REITS	720190206	892	49,932	SH		SOLE	0	49,932	0	0
Post Properties Inc	REITS	737464107	156	3,150	SH		SOLE	0	3,150	0	0
Preferred Apartment Commun	REITS	74039L103	78	9,697	SH		SOLE	0	9,697	0	0
Prologis Inc	REITS	74340W103	936	24,823	SH		SOLE	0	24,823	0	0
PS Business Parks Inc CA	REITS	69360J107	210	2,908	SH		SOLE	0	2,908	0	0
Public Storage Inc	REITS	74460D109	2,575	16,790	SH		SOLE	0	16,790	0	0
Ramco Gerhenson Properties	REITS	751452202	451	29,050	SH		SOLE	0	29,050	0	0
Regency Centers Corp	REITS	758849103	522	10,271	SH		SOLE	0	10,271	0	0
Retail Properties of America	REITS	76131V202	52	3,614	SH		SOLE	0	3,614	0	0
Rouse Properties Inc	REITS	779287101	408	20,782	SH		SOLE	0	20,782	0	0
Sabra Health Care Reit Inc	REITS	78573L106	593	22,734	SH		SOLE	0	22,734	0	0
Saul Centers Inc	REITS	804395101	22	500	SH		SOLE	0	500	0	0
Select Income Reit	REITS	81618T100	40	1,433	SH		SOLE	0	1,433	0	0
Senior Housing Prop Trust	REITS	81721M109	549	21,170	SH		SOLE	0	21,170	0	0
Simon Property Group Inc	REITS	828806109	5,900	37,346	SH		SOLE	0	37,346	0	0
SL Green	REITS	78440X101	628	7,121	SH		SOLE	0	7,121	0	0
Sovran Self Storage Inc	REITS	84610H108	536	8,270	SH		SOLE	0	8,270	0	0
Stryker Corp	Common Stock	863667101	602	9,300	SH		OTR	0	0	9,300	0
Sun Communities Inc	REITS	866674104	67	1,340	SH		SOLE	0	1,340	0	0
Sunstone Hotel Investors Inc	REITS	867892101	52	4,328	SH		SOLE	0	4,328	0	0
Tanger Factory Outlet Centers	REITS	875465106	360	10,761	SH		SOLE	0	10,761	0	0
Taubman Centers Inc	REITS	876664103	462	6,143	SH		SOLE	0	6,143	0	0
TELPHONE AND DATA SYSTEMS	Common Stock	879433829	150	6,100	SH		OTR	0	0	6,100	0
Terreno Realty Corp	REITS	88146M101	101	5,428	SH		SOLE	0	5,428	0	0
The Macerich Co	REITS	554382101	649	10,643	SH		SOLE	0	10,643	0	0
Total System Services INC	Common Stock	891906109	370	15,100	SH		OTR	0	0	15,100	0
Trade Street Residential Inc REIT	REITS	89255N203	4	408	SH		SOLE	0	408	0	0
UDR Inc	REITS	902653104	1,356	53,202	SH		SOLE	0	53,202	0	0
Universal Health Realty Income	REITS	91359E105	542	12,587	SH		SOLE	0	12,587	0	0
Varian Medical Systems	Common Stock	92220P105	573	8,500	SH		OTR	0	0	8,500	0
Ventas Inc	REITS	92276F100	2,000	28,815	SH		SOLE	0	28,815	0	0
Vornado Realty Trust	REITS	929042109	3,090	37,295	SH		SOLE	0	37,295	0	0
Wal-Mart Stores Inc	Common Stock	931142103	473	6,350	SH		OTR	0	0	6,350	0
Washington Real Estate Inv	REITS	939653101	939	34,900	SH		SOLE	0	34,900	0	0
Weingarten Realty Invst	REITS	948741103	800	25,998	SH		SOLE	0	25,998	0	0
Wells Fargo & Company	Common Stock	949746101	631	15,300	SH		OTR	0	0	15,300	0
Winthrop Realty Trust	REITS	976391300	10	801	SH		SOLE	0	801	0	0