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
AETNA INC	Common Stock	00817Y108	224	1,995	SH		OTR		0	1,995	0
AFLAC INC	Common Stock	001055102	574	9,090	SH		OTR		0	9,090	0
ALEXANDRIA REAL ESTATE EQUIT	REITS	015271109	1,861	20,474	SH		SOLE		20,474	0	0
ALLEGHANY CORP	Common Stock	017175100	149	300	SH		OTR		0	300	0
AMERICAN CAMPUS COMMUNITIES	REITS	024835100	647	13,751	SH		SOLE		13,751	0	0
AMERICAN CAPITAL AGENCY CORP	REITS	02503X105	2,051	110,232	SH		SOLE		110,232	0	0
AMERICAN EXPRESS COMPANY	Common Stock	025816109	473	7,703	SH		OTR		0	7,703	0
APACHE CORP	Common Stock	037411105	145	2,975	SH		OTR		0	2,975	0
APARTMENTS INVESTMENT	REITS	03748R101	995	23,794	SH		SOLE		23,794	0	0
AT & T INC	Common Stock	00206R102	441	11,250	SH		OTR		0	11,250	0
AVALONBAY COMMUNITIES INC	REITS	053484101	7,380	38,828	SH		SOLE		38,828	0	0
BERKSHIRE HATHAWAY INC.	Common Stock	084670702	575	4,054	SH		OTR		0	4,054	0
BOSTON PROPERTIES INC	REITS	101121101	4,008	31,543	SH		SOLE		31,543	0	0
BRANDYWINE REALTY TRUST	REITS	105368203	112	8,000	SH		SOLE		8,000	0	0
CAMDEN PROPERTY TRUST	REITS	133131102	1,047	12,455	SH		SOLE		12,455	0	0
CARE CAPITAL PROPERTIES INC	REITS	141624106	1,614	60,185	SH		SOLE		60,185	0	0
CBL & ASSOCIATES PROPERTIES	REITS	124830100	2,263	190,362	SH		SOLE		190,362	0	0
CHEVRON CORPORATION	Common Stock	166764100	517	5,420	SH		OTR		0	5,420	0
CITIGROUP INC	Common Stock	172967424	255	6,115	SH		OTR		0	6,115	0
CORENERGY INFRASTRUCTURE TRUST	REITS	21870U502	249	12,389	SH		SOLE		12,389	0	0
CORPORATE OFFICE PROPERTIES	REITS	22002T108	928	35,355	SH		SOLE		35,355	0	0
CORRECTIONS CORP OF AMERICA	REITS	22025Y407	3,644	113,803	SH		SOLE		113,803	0	0
CUBESMART	REITS	229663109	256	7,700	SH		SOLE		7,700	0	0
DCT INDUSTRIAL TRUST INC	REITS	233153204	79	2,000	SH		SOLE		2,000	0	0
DDR CORP	REITS	23317H102	782	43,964	SH		SOLE		43,964	0	0
DIAMONDROCK HOSPITALITY CO	REITS	252784301	3	282	SH		SOLE		282	0	0
DIGITAL REALTY TRUST INC	REITS	253868103	274	3,100	SH		SOLE		3,100	0	0
DOUGLAS EMMETT INC	REITS	25960P109	403	13,400	SH		SOLE		13,400	0	0
DUKE REALTY CORP	REITS	264411505	699	31,005	SH		SOLE		31,005	0	0
DUPONT FABROS TECHNOLOGY INC	REITS	26613Q106	5	112	SH		SOLE		112	0	0
EASTGROUP PROPERTIES INC	REITS	277276101	265	4,400	SH		SOLE		4,400	0	0
EMERSON ELECTRIC CO	Common Stock	291011104	363	6,675	SH		OTR		0	6,675	0
EMPIRE STATE REALTY TRUST INC	REITS	292104106	184	10,494	SH		SOLE		10,494	0	0
EQUITY COMMONWEALTH	REITS	294628102	1,241	44,006	SH		SOLE		44,006	0	0
EQUITY LIFESTYLE PROPERTIES	REITS	29472R108	2,790	38,356	SH		SOLE		38,356	0	0
EQUITY RESIDENTIAL PROPS TR	REITS	29476L107	6,128	81,676	SH		SOLE		81,676	0	0
ESSEX PROPERTY TRUST INC	REITS	297178105	552	2,360	SH		SOLE		2,360	0	0
EXTRA SPACE STORAGE INC	REITS	30225T102	2,532	27,100	SH		SOLE		27,100	0	0
EXXON MOBIL CORP	Common Stock	30231G102	307	3,675	SH		OTR		0	3,675	0
FEDERAL REALTY INVS TRUST	REITS	313747206	1,607	10,307	SH		SOLE		10,307	0	0
FIRST INDUSTRIAL REALTY TR	REITS	32054K103	209	9,200	SH		SOLE		9,200	0	0
FIRST POTOMAC REALTY TRUST	REITS	33610F109	81	8,900	SH		SOLE		8,900	0	0
FRANLKLIN STREET PROPERTIES C	REITS	35471R106	141	13,314	SH		SOLE		13,314	0	0
GENERAL GROWTH PROPERTIES	REITS	370023103	3,898	131,162	SH		SOLE		131,162	0	0
HCP INC	REITS	40414L109	5,193	159,450	SH		SOLE		159,450	0	0
HEALTHCARE TRUST OF AMERICA IN	REITS	42225P501	199	6,750	SH		SOLE		6,750	0	0
HOSPITALITY PROPERTIES TRUST	REITS	44106M102	1,069	40,267	SH		SOLE		40,267	0	0
HOST HOTELS & RESORTS INC	REITS	44107P104	2,701	161,838	SH		SOLE		161,838	0	0
HYSTER YALE MATERIALS	Common Stock	449172105	158	2,375	SH		OTR		0	2,375	0
INTEL CORP	Common Stock	458140100	212	6,555	SH		OTR		0	6,555	0
IRON MOUNTAIN INC	REITS	46284V101	2,420	71,400	SH		SOLE		71,400	0	0
ISHARES Iboxx Investment Grade Corporate Bond Fund	Exchange Traded Fund	464287242	1,865	15,700	SH		SOLE		15,700	0	0
KILROY REALTY CORP	REITS	49427F108	141	2,280	SH		SOLE		2,280	0	0
KIMCO REALTY CORP	REITS	49446R109	1,130	39,277	SH		SOLE		39,277	0	0
KITE REALTY GROUP TRUST	REITS	49803T300	352	12,725	SH		SOLE		12,725	0	0
LASALLE HOTEL PROPERTIES	REITS	517942108	1,109	43,824	SH		SOLE		43,824	0	0
LIBERTY PROPERTY TRUST	REITS	531172104	129	3,850	SH		SOLE		3,850	0	0
LTC PROPERTIES INC	REITS	502175102	81	1,800	SH		SOLE		1,800	0	0
MACK-CALI REALTY CORPORATION	REITS	554489104	773	32,879	SH		SOLE		32,879	0	0
MICROSOFT CORP	Common Stock	594918104	461	8,355	SH		OTR		0	8,355	0
MID-AMERICA APARTMENT COMM INC	REITS	59522J103	308	3,011	SH		SOLE		3,011	0	0
NATIONAL OILWELL VARCO INC	Common Stock	637071101	273	8,771	SH		OTR		0	8,771	0
NATIONAL RETAIL PROPERTIES	REITS	637417106	231	5,000	SH		SOLE		5,000	0	0
NEW YORK REIT INC	REITS	64976L109	511	50,654	SH		SOLE		50,654	0	0
NOW INC/DE	Common Stock	67011P100	143	8,086	SH		OTR		0	8,086	0
OMEGA HEALTHCARE INVESTORS	REITS	681936100	477	13,528	SH		SOLE		13,528	0	0
ONE LIBERTY PROPERTIES INC	REITS	682406103	2,647	118,225	SH		SOLE		118,225	0	0
OWENS REALTY MORTGAGE INC	REITS	690828108	40	2,500	SH		SOLE		2,500	0	0
PARAMOUNT GROUP INC	REITS	69924R108	1,186	74,401	SH		SOLE		74,401	0	0
PENN REAL ESTATE INVEST TRUST	REITS	709102107	469	21,471	SH		SOLE		21,471	0	0
PIEDMONT OFFICE REALTY TRUST	REITS	720190206	475	23,372	SH		SOLE		23,372	0	0
POST PROPERTIES INC	REITS	737464107	961	16,097	SH		SOLE		16,097	0	0
PROCTER GAMBLE CO	Common Stock	742718109	491	5,966	SH		OTR		0	5,966	0
PROLOGIS INC	REITS	74340W103	1,491	33,723	SH		SOLE		33,723	0	0
PUBLIC STORAGE INC	REITS	74460D109	8,239	29,890	SH		SOLE		29,890	0	0
RAMCO GERHENSON PROPERTIES	REITS	751452202	212	11,750	SH		SOLE		11,750	0	0
REALTY INCOME CORPORATION	REITS	756109104	708	11,328	SH		SOLE		11,328	0	0
REGENCY CENTERS CORP	REITS	758849103	551	7,371	SH		SOLE		7,371	0	0
RETAIL PROPERTIES OF AMERICA	REITS	76131V202	798	50,314	SH		SOLE		50,314	0	0
SABRA HEALTH CARE REIT INC	REITS	78573L106	357	17,800	SH		SOLE		17,800	0	0
SELECT INCOME REIT	REITS	81618T100	3,136	136,231	SH		SOLE		136,231	0	0
SENIOR HOUSING PROP TRUST	REITS	81721M109	1,082	60,500	SH		SOLE		60,500	0	0
SIMON PROPERTY GROUP INC	REITS	828806109	10,727	51,620	SH		SOLE		51,620	0	0
SL GREEN	REITS	78440X101	380	3,921	SH		SOLE		3,921	0	0
SOVRAN SELF STORAGE INC	REITS	84610H108	883	7,486	SH		SOLE		7,486	0	0
SPIRIT REALTY CAPITAL	REITS	84860W102	405	36,015	SH		SOLE		36,015	0	0
STAPLES INC	Common Stock	855030102	273	24,720	SH		OTR		0	24,720	0
STRYKER CORP	Common Stock	863667101	341	3,175	SH		OTR		0	3,175	0
SUN COMMUNITIES INC	REITS	866674104	229	3,200	SH		SOLE		3,200	0	0
SUNSTONE HOTEL INVESTORS INC	REITS	867892101	233	16,616	SH		SOLE		16,616	0	0
TANGER FACTORY OUTLET CENTERS	REITS	875465106	3,559	97,789	SH		SOLE		97,789	0	0
TAUBMAN CENTERS INC	REITS	876664103	2,025	28,448	SH		SOLE		28,448	0	0
TELEPHONE AND DATA SYSTEMS	Common Stock	879433829	223	7,418	SH		OTR		0	7,418	0
THE MACERICH CO	REITS	554382101	1,167	14,734	SH		SOLE		14,734	0	0
UDR INC	REITS	902653104	482	12,502	SH		SOLE		12,502	0	0
VALMONT INDUSTRIES	Common Stock	920253101	242	1,956	SH		OTR		0	1,956	0
VARIAN MEDICAL SYSTEMS	Common Stock	92220P105	338	4,230	SH		OTR		0	4,230	0
VENTAS INC	REITS	92276F100	7,174	113,941	SH		SOLE		113,941	0	0
VEREIT INC	REITS	92339V100	106	12,000	SH		SOLE		12,000	0	0
VORNADO REALTY TRUST	REITS	929042109	3,643	38,595	SH		SOLE		38,595	0	0
WAL-MART STORES INC	Common Stock	931142103	396	5,788	SH		OTR		0	5,788	0
WASHINGTON REAL ESTATE INV	REITS	939653101	1	32	SH		SOLE		32	0	0
WEINGARTEN REALTY INVST	REITS	948741103	375	9,998	SH		SOLE		9,998	0	0
WELLS FARGO & COMPANY	Common Stock	949746101	468	9,680	SH		OTR		0	9,680	0
WELLTOWER INC	REITS	95040Q104	1,829	26,383	SH		SOLE		26,383	0	0
WP GLIMCHER INC	REITS	92939N102	718	75,673	SH		SOLE		75,673	0	0