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	116	645	SH		OTR		0	645	0
Aflac Inc	Common Stock	001055102	314	3,580	SH		OTR		0	3,580	0
Alexandria Real Estate Eqtys.	REITS	015271109	1,038	7,948	SH		SOLE		7,948	0	0
Alleghany Corp	Common Stock	017175100	107	180	SH		OTR		0	180	0
American Campus Communities	REITS	024835100	564	13,751	SH		SOLE		13,751	0	0
American Express Co	Common Stock	025816109	406	4,093	SH		OTR		0	4,093	0
Apache Corp	Common Stock	037411105	91	2,165	SH		OTR		0	2,165	0
Apartment Investmnt & Managemt	REITS	03748R101	993	22,710	SH		SOLE		22,710	0	0
AT&T Inc	Common Stock	00206R102	294	7,560	SH		OTR		0	7,560	0
AutoZone Inc	Common Stock	053332102	413	580	SH		OTR		0	580	0
AvalonBay Communities, Inc.	REITS	053484101	4,415	24,749	SH		SOLE		24,749	0	0
Berkshire Hathaway Inc	Common Stock	084670702	461	2,324	SH		OTR		0	2,324	0
Boston Properties, Inc.	REITS	101121101	4,041	31,077	SH		SOLE		31,077	0	0
Brandywine Realty Trust	REITS	105368203	146	8,000	SH		SOLE		8,000	0	0
Brixmor Property Group, Inc.	REITS	11120U105	485	26,000	SH		SOLE		26,000	0	0
Camden Property Trust	REITS	133131102	852	9,255	SH		SOLE		9,255	0	0
CBL & Associates Properties	REITS	124830100	776	137,124	SH		SOLE		137,124	0	0
Chevron Corp	Common Stock	166764100	279	2,230	SH		OTR		0	2,230	0
Citigroup Inc	Common Stock	172967424	369	4,955	SH		OTR		0	4,955	0
City Office REIT, Inc.	REITS	178587101	226	17,400	SH		SOLE		17,400	0	0
CoreCivic, Inc.	REITS	21871N101	87	3,851	SH		SOLE		3,851	0	0
CorEnergy Infrastructure Trust	REITS	21870U502	169	4,422	SH		SOLE		4,422	0	0
Corporate Office Properties	REITS	22002T108	449	15,372	SH		SOLE		15,372	0	0
Crown Castle Intern'l Corp.	REITS	22822V101	110	992	SH		SOLE		992	0	0
CubeSmart	REITS	229663109	3,032	104,835	SH		SOLE		104,835	0	0
DCT Industrial Trust, Inc.	REITS	233153204	66	1,131	SH		SOLE		1,131	0	0
DDR Corp.	REITS	23317H102	681	75,971	SH		SOLE		75,971	0	0
DiamondRock Hospitality Co.	REITS	252784301	3	282	SH		SOLE		282	0	0
Digital Realty Trust, Inc.	REITS	253868103	312	2,737	SH		SOLE		2,737	0	0
Douglas Emmett, Inc.	REITS	25960P109	427	10,400	SH		SOLE		10,400	0	0
Duke Realty Corp.	REITS	264411505	836	30,718	SH		SOLE		30,718	0	0
EastGroup Properties, Inc.	REITS	277276101	111	1,259	SH		SOLE		1,259	0	0
Empire State Realty Trust Inc.	REITS	292104106	215	10,494	SH		SOLE		10,494	0	0
Equity Commonwealth	REITS	294628102	169	5,538	SH		SOLE		5,538	0	0
Equity LifeStyle Properties, I	REITS	29472R108	2,103	23,624	SH		SOLE		23,624	0	0
Equity Residential Pptys	REITS	29476L107	4,121	64,615	SH		SOLE		64,615	0	0
Essex Property Trust, Inc.	REITS	297178105	1,183	4,900	SH		SOLE		4,900	0	0
Extra Space Storage, Inc.	REITS	30225T102	2,790	31,909	SH		SOLE		31,909	0	0
ExxonMobil Corp	Common Stock	30231G102	183	2,185	SH		OTR		0	2,185	0
Federal Realty Investment	REITS	313747206	465	3,502	SH		SOLE		3,502	0	0
First Industrial Realty Trust	REITS	32054K103	286	9,096	SH		SOLE		9,096	0	0
FIVE OAKS INVESTMENT CORP	REITS	33830W106	51	12,687	SH		SOLE		12,687	0	0
Forest City Realty Trust, Inc.	REITS	345605109	879	36,486	SH		SOLE		36,486	0	0
Franklin Street Properties Cor	REITS	35471R106	114	10,649	SH		SOLE		10,649	0	0
GGP, Inc.	REITS	36174X101	5,998	256,434	SH		SOLE		256,434	0	0
HCP, Inc.	REITS	40414L109	2,240	85,881	SH		SOLE		85,881	0	0
Healthcare Trust of America	REITS	42225P501	84	2,788	SH		SOLE		2,788	0	0
Hospitality Properties Trust	REITS	44106M102	639	21,406	SH		SOLE		21,406	0	0
Host Hotels & Resorts Inc.	REITS	44107P104	1,323	66,674	SH		SOLE		66,674	0	0
HYSTER YALE MATERIALS	Common Stock	449172105	166	1,945	SH		OTR		0	1,945	0
Intel Corp	Common Stock	458140100	343	7,435	SH		OTR		0	7,435	0
JBG SMITH Properties	REITS	46590V100	564	16,253	SH		SOLE		16,253	0	0
Kilroy Realty Corporation	REITS	49427F108	143	1,915	SH		SOLE		1,915	0	0
Kimco Realty Corp.	REITS	49446R109	376	20,735	SH		SOLE		20,735	0	0
Kite Realty Group Trust	REITS	49803T300	180	9,159	SH		SOLE		9,159	0	0
LaSalle Hotel Properties	REITS	517942108	711	25,324	SH		SOLE		25,324	0	0
Liberty Property Trust	REITS	531172104	166	3,850	SH		SOLE		3,850	0	0
Life Storage, Inc.	REITS	53223X107	2,985	33,513	SH		SOLE		33,513	0	0
LTC Properties, Inc.	REITS	502175102	37	843	SH		SOLE		843	0	0
Macerich Co.	REITS	554382101	4,655	70,878	SH		SOLE		70,878	0	0
Mack-Cali Realty Corp.	REITS	554489104	254	11,785	SH		SOLE		11,785	0	0
Macy's Inc	Common Stock	55616P104	242	9,620	SH		OTR		0	9,620	0
Microsoft Corp	Common Stock	594918104	391	4,575	SH		OTR		0	4,575	0
Mid-America Apt. Communities	REITS	59522J103	1,540	15,318	SH		SOLE		15,318	0	0
National Oilwell Varco Inc	Common Stock	637071101	219	6,081	SH		OTR		0	6,081	0
New York REIT, Inc.	REITS	64976L109	127	32,437	SH		SOLE		32,437	0	0
NOW Inc	Common Stock	67011P100	138	12,556	SH		OTR		0	12,556	0
Omega Healthcare Investors Inc	REITS	681936100	1,639	59,528	SH		SOLE		59,528	0	0
One Liberty Properties, Inc.	REITS	682406103	827	31,916	SH		SOLE		31,916	0	0
OUTFRONT Media Inc	REITS	69007J106	325	14,000	SH		SOLE		14,000	0	0
OWENS REALTY MORTGAGE INC	REITS	690828108	221	13,779	SH		SOLE		13,779	0	0
Paramount Group, Inc.	REITS	69924R108	216	13,648	SH		SOLE		13,648	0	0
Pennsylvania REIT	REITS	709102107	318	26,718	SH		SOLE		26,718	0	0
Piedmont Office Realty Trust	REITS	720190206	399	20,372	SH		SOLE		20,372	0	0
Prologis, Inc.	REITS	74340W103	1,452	22,511	SH		SOLE		22,511	0	0
Public Storage	REITS	74460D109	6,326	30,266	SH		SOLE		30,266	0	0
Quality Care Properties	REITS	747545101	297	21,494	SH		SOLE		21,494	0	0
Ramco-Gershenson Properties	REITS	751452202	171	11,593	SH		SOLE		11,593	0	0
Regency Centers Corp.	REITS	758849103	490	7,082	SH		SOLE		7,082	0	0
Retail Properties of America	REITS	76131V202	539	40,113	SH		SOLE		40,113	0	0
RLJ Lodging Trust	REITS	74965L101	439	20,000	SH		SOLE		20,000	0	0
Sabra Health Care REIT, Inc.	REITS	78573L106	1,800	95,918	SH		SOLE		95,918	0	0
Select Income REIT	REITS	81618T100	2,117	84,240	SH		SOLE		84,240	0	0
Senior Housing Properties Trus	REITS	81721M109	519	27,115	SH		SOLE		27,115	0	0
Simon Property Group, Inc.	REITS	828806109	10,727	62,460	SH		SOLE		62,460	0	0
SL Green Realty Corp.	REITS	78440X101	894	8,859	SH		SOLE		8,859	0	0
Spirit Realty Capital, Inc.	REITS	84860W102	321	37,425	SH		SOLE		37,425	0	0
STORE Capital Corp.	REITS	862121100	401	15,400	SH		SOLE		15,400	0	0
Stryker Corporation	Common Stock	863667101	154	995	SH		OTR		0	995	0
Sun Communities, Inc.	REITS	866674104	1,104	11,900	SH		SOLE		11,900	0	0
Sunstone Hotel Investors, Inc.	REITS	867892101	275	16,616	SH		SOLE		16,616	0	0
Tanger Factory Outlet Ctrs Inc	REITS	875465106	3,786	142,799	SH		SOLE		142,799	0	0
Taubman Centers, Inc.	REITS	876664103	3,218	49,189	SH		SOLE		49,189	0	0
Tier REIT, Inc.	REITS	88650V208	525	25,738	SH		SOLE		25,738	0	0
UDR, Inc.	REITS	902653104	338	8,770	SH		SOLE		8,770	0	0
Uniti Group, Inc.	REITS	91325V108	3,303	185,655	SH		SOLE		185,655	0	0
Valmont Industries Inc	Common Stock	920253101	137	826	SH		OTR		0	826	0
Varex Imaging Corp	Common Stock	92214X106	261	6,488	SH		OTR		0	6,488	0
Varian Medical Systems Inc	Common Stock	92220P105	104	940	SH		OTR		0	940	0
Ventas, Inc.	REITS	92276F100	2,829	47,141	SH		SOLE		47,141	0	0
VEREIT, Inc.	REITS	92339V100	93	12,000	SH		SOLE		12,000	0	0
Vornado Realty Trust	REITS	929042109	2,620	33,506	SH		SOLE		33,506	0	0
Wal-Mart Stores Inc	Common Stock	931142103	236	2,388	SH		OTR		0	2,388	0
Washington Prime Grp,Inc.	REITS	93964W108	561	78,861	SH		SOLE		78,861	0	0
Washington Real Estate Invmt	REITS	939653101	1	32	SH		SOLE		32	0	0
Weingarten Realty Investors	REITS	948741103	442	13,456	SH		SOLE		13,456	0	0
Wells Fargo & Co	Common Stock	949746101	429	7,070	SH		OTR		0	7,070	0
Welltower, Inc.	REITS	95040Q104	3,353	52,587	SH		SOLE		52,587	0	0