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	519	3,700	SH		OTR		0	3,700	0
Acadia Realty Trust	REITS	004239109	11	445	SH		SOLE		445	0	0
Aetna Inc	Common Stock	00817Y108	631	9,200	SH		OTR		0	9,200	0
Aflac Inc	Common Stock	001055102	691	10,350	SH		OTR		0	10,350	0
Agree Realty Corp	REITS	008492100	52	1,803	SH		SOLE		1,803	0	0
Alexandria Real Estate Equit	REITS	015271109	391	6,150	SH		SOLE		6,150	0	0
American Campus Communities	REITS	024835100	511	15,851	SH		SOLE		15,851	0	0
American Capital Agency Corp	REITS	02503X105	1,879	97,400	SH		SOLE		97,400	0	0
Annaly Capital Management Inc	REITS	035710409	2	200	SH		SOLE		200	0	0
Apartments Investment	REITS	03748R101	261	10,094	SH		SOLE		10,094	0	0
Armada Hoffler Properties	REITS	04208T108	236	25,504	SH		SOLE		25,504	0	0
Associated Estates Realty CP	REITS	045604105	1,826	113,848	SH		SOLE		113,848	0	0
Avalonbay Communities Inc	REITS	053484101	1,682	14,228	SH		SOLE		14,228	0	0
Berkshire Hathaway Inc.	Common Stock	084670702	687	5,800	SH		OTR		0	5,800	0
Biomed Realty Trust Inc	REITS	09063H107	831	45,900	SH		SOLE		45,900	0	0
Boston Properties Inc	REITS	101121101	1,392	13,873	SH		SOLE		13,873	0	0
Brandywine Realty Trust	REITS	105368203	228	16,192	SH		SOLE		16,192	0	0
BRE Properties Inc	REITS	05564E106	366	6,700	SH		SOLE		6,700	0	0
Brixmor Property Group Inc	REITS	11120U105	122	6,000	SH		SOLE		6,000	0	0
Camden Property Trust	REITS	133131102	868	15,263	SH		SOLE		15,263	0	0
CBL & Associates Properties	REITS	124830100	2,446	136,362	SH		SOLE		136,362	0	0
Cedar Shopping Centers Inc	REITS	150602209	239	38,175	SH		SOLE		38,175	0	0
Chambers Street Properties	REITS	157842105	340	44,500	SH		SOLE		44,500	0	0
Chevron Corporation	Common Stock	166764100	656	5,250	SH		OTR		0	5,250	0
Commonwealth Reit	REITS	203233101	62	2,649	SH		SOLE		2,649	0	0
Corporate Office Properties	REITS	22002T108	284	11,988	SH		SOLE		11,988	0	0
Corrections Corp of America	REITS	22025Y407	336	10,490	SH		SOLE		10,490	0	0
Cousins Properties Inc	REITS	222795106	100	9,691	SH		SOLE		9,691	0	0
Cubesmart	REITS	229663109	121	7,600	SH		SOLE		7,600	0	0
DCT Industrial Trust Inc	REITS	233153105	65	9,100	SH		SOLE		9,100	0	0
DDR Corp	REITS	23317H102	629	40,964	SH		SOLE		40,964	0	0
Diamondrock Hospitality Co	REITS	252784301	188	16,282	SH		SOLE		16,282	0	0
Digital Realty Trust Inc	REITS	253868103	746	15,200	SH		SOLE		15,200	0	0
Douglas Emmett Inc	REITS	25960P109	156	6,700	SH		SOLE		6,700	0	0
Duke Realty Corp	REITS	264411505	853	56,765	SH		SOLE		56,765	0	0
DuPont Fabros Technology Inc	REITS	26613Q106	3	112	SH		SOLE		112	0	0
EastGroup Properties Inc	REITS	277276101	35	600	SH		SOLE		600	0	0
Education Realty Trust Inc	REITS	28140H104	28	3,200	SH		SOLE		3,200	0	0
Emerson Electric Co	Common Stock	291011104	491	7,000	SH		OTR		0	7,000	0
Equity Lifestyle Properties	REITS	29472R108	626	17,306	SH		SOLE		17,306	0	0
Equity One Inc	REITS	294752100	89	3,970	SH		SOLE		3,970	0	0
Equity Residential Props Tr	REITS	29476L107	1,617	31,176	SH		SOLE		31,176	0	0
Essex Property Trust Inc	REITS	297178105	218	1,520	SH		SOLE		1,520	0	0
Excel Trust Inc	REITS	30068C109	475	41,732	SH		SOLE		41,732	0	0
Extra Space Storage Inc	REITS	30225T102	147	3,500	SH		SOLE		3,500	0	0
Federal Realty Invs Trust	REITS	313747206	599	5,907	SH		SOLE		5,907	0	0
First Industrial Realty Tr	REITS	32054K103	3	200	SH		SOLE		200	0	0
First Potomac Realty Trust	REITS	33610F109	103	8,900	SH		SOLE		8,900	0	0
Franlklin Street Properties C	REITS	35471R106	573	48,114	SH		SOLE		48,114	0	0
General Growth Properties	REITS	370023103	124	6,162	SH		SOLE		6,162	0	0
Glimcher Realty Trust	REITS	379302102	185	19,739	SH		SOLE		19,739	0	0
Government Properties Income	REITS	38376A103	542	21,800	SH		SOLE		21,800	0	0
HCP Inc	REITS	40414L109	1,552	42,750	SH		SOLE		42,750	0	0
Health Care Reit Inc	REITS	42217K106	926	17,283	SH		SOLE		17,283	0	0
Healthcare Realty Trust Inc	REITS	421946104	83	3,900	SH		SOLE		3,900	0	0
Hersha Hospitality Trust	REITS	427825104	33	5,900	SH		SOLE		5,900	0	0
Highwood Properties Inc	REITS	431284108	434	12,000	SH		SOLE		12,000	0	0
Home Properties Inc	REITS	437306103	57	1,060	SH		SOLE		1,060	0	0
Hospitality Properties Trust	REITS	44106M102	2,569	95,154	SH		SOLE		95,154	0	0
Host Hotels & Resorts Inc	REITS	44107P104	642	33,048	SH		SOLE		33,048	0	0
Inland Real Estate Corp	REITS	457461200	371	35,300	SH		SOLE		35,300	0	0
Intel Corp	Common Stock	458140100	833	32,100	SH		OTR		0	32,100	0
Investors Real Estate Trust	REITS	461730103	9	992	SH		SOLE		992	0	0
Ishares Iboxx Investment Grade Corporate Bond Fund	Exchange Traded Fund	464287242	24,259	212,500	SH		SOLE		212,500	0	0
ISTAR FINANCIAL INC	REITS	45031U101	3	216	SH		SOLE		216	0	0
Kilroy Realty Corp	REITS	49427F108	114	2,280	SH		SOLE		2,280	0	0
Kimco Realty Corp	REITS	49446R109	1,015	51,377	SH		SOLE		51,377	0	0
Kite Realty Group Trust	REITS	49803T102	51	7,700	SH		SOLE		7,700	0	0
LaSalle Hotel Properties	REITS	517942108	126	4,100	SH		SOLE		4,100	0	0
Lexington Realty Trust	REITS	529043101	1,545	151,320	SH		SOLE		151,320	0	0
Liberty Property Trust	REITS	531172104	1,390	41,050	SH		SOLE		41,050	0	0
LTC Properties Inc	REITS	502175102	271	7,656	SH		SOLE		7,656	0	0
Mack-Cali Realty Corporation	REITS	554489104	1,829	85,200	SH		SOLE		85,200	0	0
McKesson Corp	Common Stock	58155Q103	161	1,000	SH		OTR		0	1,000	0
Microsoft Corp	Common Stock	594918104	745	19,900	SH		OTR		0	19,900	0
Mid-America Apartment Comm Inc	REITS	59522J103	1,285	21,155	SH		SOLE		21,155	0	0
Monmouth REIT Class A	REITS	609720107	1,197	131,689	SH		SOLE		131,689	0	0
National Retail Properties	REITS	637417106	403	13,300	SH		SOLE		13,300	0	0
Natl Health Investors Inc	REITS	63633D104	50	900	SH		SOLE		900	0	0
Omega Healthcare Investors	REITS	681936100	707	23,726	SH		SOLE		23,726	0	0
One Liberty Properties Inc	REITS	682406103	1,712	85,149	SH		SOLE		85,149	0	0
Parkway Properties Inc	REITS	70159Q104	57	2,973	SH		SOLE		2,973	0	0
Penn Real Estate Invest Trust	REITS	709102107	574	30,241	SH		SOLE		30,241	0	0
Piedmont Office Realty Trust	REITS	720190206	428	25,932	SH		SOLE		25,932	0	0
Post Properties Inc	REITS	737464107	197	4,350	SH		SOLE		4,350	0	0
Preferred Apartment Commun	REITS	74039L103	78	9,697	SH		SOLE		9,697	0	0
Prologis Inc	REITS	74340W103	917	24,823	SH		SOLE		24,823	0	0
PS Business Parks Inc CA	REITS	69360J107	130	1,708	SH		SOLE		1,708	0	0
Public Storage Inc	REITS	74460D109	2,315	15,390	SH		SOLE		15,390	0	0
Ramco Gerhenson Properties	REITS	751452202	457	29,050	SH		SOLE		29,050	0	0
Regency Centers Corp	REITS	758849103	475	10,271	SH		SOLE		10,271	0	0
Retail Properties of America	REITS	76131V202	46	3,614	SH		SOLE		3,614	0	0
Rouse Properties Inc	REITS	779287101	1	32	SH		SOLE		32	0	0
Sabra Health Care Reit Inc	REITS	78573L106	762	29,163	SH		SOLE		29,163	0	0
Saul Centers Inc	REITS	804395101	24	500	SH		SOLE		500	0	0
Select Income Reit	REITS	81618T100	1,877	70,231	SH		SOLE		70,231	0	0
Senior Housing Prop Trust	REITS	81721M109	470	21,170	SH		SOLE		21,170	0	0
Simon Property Group Inc	REITS	828806109	5,682	37,346	SH		SOLE		37,346	0	0
SL Green	REITS	78440X101	657	7,121	SH		SOLE		7,121	0	0
Sovran Self Storage Inc	REITS	84610H108	395	6,070	SH		SOLE		6,070	0	0
Spirit Realty Capital	REITS	84860W102	13	1,300	SH		SOLE		1,300	0	0
Stryker Corp	Common Stock	863667101	466	6,200	SH		OTR		0	6,200	0
Sun Communities Inc	REITS	866674104	57	1,340	SH		SOLE		1,340	0	0
Sunstone Hotel Investors Inc	REITS	867892101	58	4,328	SH		SOLE		4,328	0	0
Tanger Factory Outlet Centers	REITS	875465106	344	10,761	SH		SOLE		10,761	0	0
Taubman Centers Inc	REITS	876664103	393	6,143	SH		SOLE		6,143	0	0
Telephone and Data Systems	Common Stock	879433829	302	11,700	SH		OTR		0	11,700	0
Terreno Realty Corp	REITS	88146M101	96	5,428	SH		SOLE		5,428	0	0
The Macerich Co	REITS	554382101	1,180	20,043	SH		SOLE		20,043	0	0
Tiptree Financial Inc	REITS	88822Q103	128	17,550	SH		SOLE		17,550	0	0
Total System Services INC	Common Stock	891906109	503	15,100	SH		OTR		0	15,100	0
Trade Street Residential Inc REIT	REITS	89255N203	3	408	SH		SOLE		408	0	0
UDR Inc	REITS	902653104	1,426	61,102	SH		SOLE		61,102	0	0
Universal Health Realty Income	REITS	91359E105	504	12,587	SH		SOLE		12,587	0	0
Valmont Industries	Common Stock	920253101	470	3,150	SH		OTR		0	3,150	0
Varian Medical Systems	Common Stock	92220P105	528	6,800	SH		OTR		0	6,800	0
Ventas Inc	REITS	92276F100	1,966	34,315	SH		SOLE		34,315	0	0
Vornado Realty Trust	REITS	929042109	3,417	38,495	SH		SOLE		38,495	0	0
Wal-Mart Stores Inc	Common Stock	931142103	535	6,800	SH		OTR		0	6,800	0
Washington Real Estate Inv	REITS	939653101	816	34,900	SH		SOLE		34,900	0	0
Weingarten Realty Invst	REITS	948741103	712	25,998	SH		SOLE		25,998	0	0
Wells Fargo & Company	Common Stock	949746101	694	15,300	SH		OTR		0	15,300	0
Whitestone Reit	REITS	966084204	161	12,082	SH		SOLE		12,082	0	0
Winthrop Realty Trust	REITS	976391300	9	801	SH		SOLE		801	0	0