13F-HR 1 f13f-4q03.txt Cohen & Steers Capital Management, Inc. FORM 13F December 31, 2003 Value Shares/ Name of Issuer Title of class CUSIP (x$1000) Prn Amt ------------------------------------------------------------------------------- AMB Property Corp. COM 00163T109 63877 1942725 Alexanders Inc. COM 014752109 1533 12300 Amli Residential COM 001735109 54415 2030400 Apartment Investment COM 03748R101 86316 2501925 Archstone-Smith Tr. COM 039583109 358109 12798739 Arden Realty COM 039793104 272865 8993579 AvalonBay Comm. COM 053484101 319556 6685265 BRE Properties COM 05564E106 78689 2355967 Boston Properties COM 101121101 382965 7946988 Brandywine Realty Tr. COM 105368203 143155 5347600 Brookfield Properties COM 112900105 148188 5163330 CBL & Associates COM 124830100 116350 2059288 Camden Ppty Trust COM 133131102 110994 2505500 CarrAmerica Realty COM 144418100 231414 7770769 Catellus Development COM 149113102 165480 6860681 Cedar Shopping Centers Inc. COM 150602209 17140 1380000 Colonial Property Tr COM 195872106 105601 2666700 Crescent Real Estate COM 225756105 156836 9155655 Developers Divers. COM 251591103 98604 2937251 Equity Inns Inc COM 294703103 17736 1959800 Equity Office Pptys COM 294741103 401353 14008843 Equity Residential COM 29476L107 85410 2894257 Essex Property Tr. COM 297178105 90082 1402708 Federal Realty Inv. COM 313747206 126554 3296544 First Industrial Rlty COM 32054K103 141602 4195600 Gables Residential Tr COM 362418105 138783 3994900 General Growth COM 370021107 133497 4810685 Glimcher Realty Tr COM 379302102 108330 4840500 Health Care Ppty COM 421915109 240233 4729004 Health Care REIT COM 42217K106 161515 4486525 Heritage Property Investment COM 42725M107 122477 4305000 Highwoods Properties COM 431284108 82743 3257600 Hilton Hotels Corp COM 432848109 72011 4203778 Home Properties COM 437306103 36173 895600 Hospitality Pptys Tr COM 44106M102 80731 1955700 Host Marriott COM 44107P104 180044 14613985 Keystone Property COM 493596100 64048 2899400 Kilroy Realty COM 49427F108 136553 4169544 Kramont Realty Trust COM 50075Q107 64425 3559400 Liberty Property Tr COM 531172104 239131 6147331 Macerich COM 554382101 274859 6176616 Mack-Cali Realty COM 554489104 271617 6526122 Maguire Properties COM 559775101 153893 6333030 Meristar Hospitality COM 58984Y103 766 117600 Mid-America Apartment Communities COM 59522J103 57660 1717100 Mills Corp COM 601148109 272511 6193422 Mission West COM 605203108 30297 2339500 Nationwide Health COM 638620104 103537 5296000 New Plan Excel Rlty COM 648053106 50231 2036100 Newcastle Investment Corporation COM 65105M108 102917 3797676 Pan Pacific COM 69806L104 35674 748658 Pennsylvania REIT COM 709102107 13790 379900 Post Properties COM 737464107 101885 3649170 Prentiss Properties COM 740706106 205382 6225572 ProLogis COM 743410102 253056 7885832 Public Storage Inc. COM 74460D109 86398 1991187 Public Storage-Series A COM 74460D729 24703 826200 Ramco-Gershenson COM 751452202 45342 1602200 Reckson Assoc COM 75621K106 196694 8094415 Regency Centers Corp COM 758849103 23722 595270 Rouse Co. COM 779273101 221846 4720136 SL Green Realty COM 78440X101 78588 1914438 Shurgard Storage COM 82567D104 23925 635450 Simon Property Group COM 828806109 316208 6823662 Sovran Self Storage COM 84610H108 27751 747000 Starwood Hotels COM 85590A203 173561 4825157 Summit Properties COM 866239106 74351 3095385 Sun Communities COM 866674104 92812 2398255 Taubman Centers COM 876664103 100226 4865330 Town & Country COM 892081100 7019 276900 United Dominion COM 910197102 8093 421500 Urstadt Biddle Class A COM 917286205 8916 630100 Ventas Inc. COM 92276F100 227789 10354060 Vornado Realty Tr. COM 929042109 470108 8586451 iShares Cohen & Steers Rlty Majors COM 464287564 402 3790 iStar Financial COM 45031U101 120543 3098800 ACE Ltd. ADR 7.8% (ACE C) PFD 016992496 10594 380400 AOL SR CABCO 7.625% (UYE) PFD 126794205 2750 103200 ASBC TR 7.625% (ABW A) PFD 00209E207 2042 75500 Abbey Nat. ADR 7.375% (ANB B) PFD 002920700 2929 105700 Abbey Nat. ADR 7.375% (ANB C) PFD 002920809 13412 493264 Aetna Inc. SR 8.5% (AEF) PFD 00817Y207 878 32000 Agrium Inc. PFD 008916207 2826 112400 Alexandria Real Est. Pr.B PFD 015271307 3451 122800 Apartment Inv. Pr.D PFD 03748R309 2572 101871 Apartment Inv. Pr.G PFD 03748R408 9815 362700 Apartment Inv. Pr.Q PFD 03748R853 2959 109400 Apartment Inv. Pr.R PFD 03748R846 48822 1796900 Apartment Investments Pr.T PFD 03748R838 3102 120100 CBL & Assoc Prop 8.75% Pr.B PFD 124830308 26962 492000 CBL & Associates Properties Pr.C PFD 124830506 13550 500000 Capital Automotive REIT Pr.A PFD 139733117 6884 275000 Carramerica Realty Corp. Pr.E PFD 144418704 7560 284200 Chelsea Property Pr.A PFD 163421209 9716 176050 Chittenden Corp TR 8% (CHZ A) PFD 170221204 579 21300 Cobank 7.00% 144A PFD 19075Q300 10025 200000 Colonial Cap Trust (CNB B) PFD 19560Q203 8287 309200 Colonial Prop Pr.D PFD 195872403 13854 510100 Colonial Properties Trust PFD 195872304 1928 71900 Commercial Net Lease Pr.A PFD 202218111 6017 219600 Corporate Office Properties Pr.F PFD 22002T405 1257 46400 Countrywide Cap TR 6.75% (CFC A) PFD 22238E206 1832 71100 Cousins Property Pr.A PFD 222795304 18384 674660 Crescent Real Estate Pr.A PFD 225756204 65424 2797100 Crescent Real Estate Pr.B PFD 225756402 4290 153700 DaimlerChrys SR CBTCS 7.25% (JZO) PFD 21988K206 607 23708 DaimlerChrys SR CBTCS 7.4% (XKX) PFD 21988G486 966 37300 DaimlerChrys SR CORTS 7.875% (KCV) PFD 22081L208 258 9600 DaimlerChrys SR CORTS 8% (KCN) PFD 22081E204 274 10000 Dairy Farmers of America 7.875% 144A PFD 23385H208 7311 75000 Delphi Trust 8.25% (DPH A) PFD 24717P207 11853 450000 Developers Divers. Pr.F PFD 251591871 35022 1311700 Developers Divers. Pr.G PFD 251591830 2393 88700 Dominion CNG TR 7.8% (DMG A) PFD 257206201 2142 78700 Energy East TR 8.25% (ECT) PFD 29267G200 1645 61000 Equity Inns Inc. Pr.B PFD 294703301 7817 287500 Equity Office Pr.G PFD 294741871 420 15500 Everest Re TR 7.85% (RE A) PFD 299807206 242 8800 FMCC SR 7.6% (FCJ) PFD 345397301 2141 82800 Federal Realty Pr.B PFD 313747503 10461 380400 Felcor Lodging Pr.A PFD 31430F200 7798 322500 Felcor Lodging Pr.B PFD 31430F408 20975 837000 First Industrial Rlty Pr.D PFD 32054K806 1673 66400 First Industrial Rlty Pr.E PFD 32054K889 357 14200 Fleet Boston TR 7.2% (FBF L) PFD 33889V207 2510 94800 Fleet Boston TR 7.2% (FBF M) PFD 33889X203 2342 87900 Ford Motor SR 7.5% (F A) PFD 345370852 2630 101951 Ford Motor SR CORTS 8% (KVU) PFD 22082K209 3340 125000 Ford Motor SR SATURNS 8.125% (DKL) PFD 804085207 852 32200 GMAC SR 7.25% (GKM) PFD 370425407 2726 104900 Glimcher Realty Pr.F PFD 379302300 15870 600000 HRPT Properties Pr.B PFD 40426W309 26872 964900 Health Care Property Pr.F PFD 421915125 5625 225000 Health Care REIT Pr.D PFD 42217K304 3776 141300 Highwoods Prop. Pr.A PFD 431284207 47439 46853 Highwoods Properties Pr.B PFD 431284306 1387 54900 Highwoods Properties Pr.D PFD 431284504 4441 177200 Home Properties Pr.F PFD 437306509 5380 196000 Host Marriot Pr.A PFD 44107P203 792 29600 Host Marriot Pr.B PFD 44107P302 2549 94400 Host Marriot Pr.C PFD 44107P401 4978 182600 Host Marriott Cv Pfd QUIP PFD 441079407 2234 43800 ING Group JR 7.05% (IND) PFD 456837202 6468 241600 ING Group JR 7.2% (INZ) PFD 456837301 4494 165700 Innkeepers Pr.A PFD 4576J0302 10037 399900 Innkeepers USA Pr.C PFD 4576J0401 12650 500000 Keystone Property Pr.D PFD 493596308 14498 534000 Kilroy Realty Corp. Pr.E PFD 49427F405 6756 264414 LTC Properties CV Pr.E PFD 502175508 8069 262500 Laclede TR 7.7% (LG A) PFD 50558V201 1299 47900 Lasalle Hotel Prop Pr.A PFD 517942207 35014 1226400 Lehman Bros. Holdings 6.50% (LEH F) PFD 524908720 5729 212500 Liberty Media SR CBTCS 8.75% (XKI) PFD 21988G593 5396 197500 Liberty Media SR PPLUS 8.75% (PIS) PFD 740434808 2443 89545 Lincoln National TR 7.65% (LNC V) PFD 534042205 1407 52300 MBNA TR 8.1% (KRB E) PFD 55270B201 4525 166300 MBNA TR 8.125% (KRB D) PFD 55266J200 6269 234100 Mid-America Apartment Pr.H PFD 59522J806 34857 1334500 Mills Corp Pr.B PFD 601148208 33463 1219500 Mills Corp Pr.C PFD 601148307 13940 506900 Mills Corp. Pr.E PFD 601148406 14355 529700 Nat'l Rural Utils JR 7.4% (NRS) PFD 637432600 1292 48300 Nationwide Health Pr.P PFD 638620203 32259 342457 New Plan Excel Pr.D 7.8% PFD 648053700 2677 50600 Newcastle Investment Pr. B PFD 65105M207 7998 287400 Nexen Inc. Sub Notes (NXY B) PFD 65334H508 15854 606260 Northern States Pwr SR 8% (XCH) PFD 665772794 1138 41700 Old Second TR 7.8% (OSBCP) PFD 680280104 981 90000 PS Business Parks Pr.A PFD 69360J305 651 25600 PS Business Parks Pr.D PFD 69360J503 21835 806300 PS Business Parks Pr.F PFD 69360J701 2742 102100 PSEG Funding TR 8.75% (PEG U) PFD 69361X204 5617 199900 Pennsylvania REIT Pr. A PFD 709102206 17672 290900 Post Properties Pr.A PFD 737464206 3660 60000 ProLogis Pr.C PFD 743410409 2299 39388 ProLogis Pr.D PFD 743410508 1002 40048 Protective Life TR 7.5% (PL S) PFD 69340M204 898 33700 Puget Sound Energy TR 8.4% (PSD) PFD 74531W201 2572 95800 RAMCO-Gershenson Pr.B PFD 751452400 7241 258600 Realty Income Pr.B PFD 756109302 756 29400 Reckson Assoc Pr. A PFD 75621K205 3015 119400 RenaissanceRe ADR 7.3% (RNR B) PFD G7498P200 1760 65900 RenaissanceRe ADR 8.1% (RNR A) PFD G7496G202 842 30900 SL Green Realty Corp. Pr.C PFD 78440X309 10300 400000 Saul Centers Preferred Series A PFD 804395200 5310 200000 Shaw Comm TR 8.45% (SJR A) PFD 82028K606 4701 186192 Shaw Comm TR 8.5% (SJR B) PFD 82028K705 10877 432300 Shurgard Storage Pr.D PFD 82567D401 484 17900 Simon Property Pr.F PFD 828806604 1521 55700 Southern California Edison 7.23% PFD 842400798 1230 12300 Southern Union Gas SR 7.55% (SUG C) PFD 844030601 27799 1040000 Southwest Gas Capital TR 7.70% (SWX B) PFD 844891200 16290 600000 St. Paul TR 7.6% (SPC A) PFD 85231F207 3080 114130 Taubman Centers Pr.A PFD 876664202 18445 725600 Tel & Data SR 7.6% (TDA) PFD 879433878 4690 175600 Torchmark Capital I Pr.T PFD 89102Q201 1111 41000 United Dominion Pr.B PFD 910197300 967 35300 Urstadt Biddle Prop Pr.C PFD 917286304 8420 80000 Virginia Power Capital Trust Pr.A PFD 928083203 1715 62061 Vodaphone/Centaur STOCK 9.08% (151327202) PFD 151327202 16697 13908 Vornado Realty Pr.B PFD 929042307 524 20400 Vornado Realty Trust Pr.C PFD 929042406 1270 49400 Zions Bank TR 8% (ZB B) PFD 989703202 507 18600 iStar Fin'l Pr.D PFD 45031U408 5235 206900 iStar Financial Pr.E PFD 45031U507 11930 460600 iStar Financial Pr.F PFD 45031U606 15546 594500 iStar Financial Pr.G PFD 45031U705 12625 500000 Voting Authority ----------------------- Sh/ Put/ Invst Other Name of Issuer Prn Call Dscrn Mgrs Sole Shared None ------------------------------------------------------------------------------- AMB Property Corp. SH Sole 1842725 100000 Alexanders Inc. SH Sole 12300 Amli Residential SH Sole 2020100 10300 Apartment Investment SH Sole 2421937 79988 Archstone-Smith Tr. SH Sole 12470779 327960 Arden Realty SH Sole 8811765 181814 AvalonBay Comm. SH Sole 6425681 259584 BRE Properties SH Sole 2214267 141700 Boston Properties SH Sole 7603500 343488 Brandywine Realty Tr. SH Sole 5335100 12500 Brookfield Properties SH Sole 4900730 262600 CBL & Associates SH Sole 1994688 64600 Camden Ppty Trust SH Sole 2501200 4300 CarrAmerica Realty SH Sole 7630215 140554 Catellus Development SH Sole 6513891 346789 Cedar Shopping Centers Inc. SH Sole 1380000 Colonial Property Tr SH Sole 2659800 6900 Crescent Real Estate SH Sole 8999955 155700 Developers Divers. SH Sole 2837369 99882 Equity Inns Inc SH Sole 1948200 11600 Equity Office Pptys SH Sole 13736545 272298 Equity Residential SH Sole 2744357 149900 Essex Property Tr. SH Sole 1331508 71200 Federal Realty Inv. SH Sole 3141444 155100 First Industrial Rlty SH Sole 4187700 7900 Gables Residential Tr SH Sole 3984700 10200 General Growth SH Sole 4633485 177200 Glimcher Realty Tr SH Sole 4840500 Health Care Ppty SH Sole 4716900 12104 Health Care REIT SH Sole 4481025 5500 Heritage Property Investment SH Sole 4295900 9100 Highwoods Properties SH Sole 3257600 Hilton Hotels Corp SH Sole 3951678 252100 Home Properties SH Sole 895600 Hospitality Pptys Tr SH Sole 1951600 4100 Host Marriott SH Sole 13806785 807200 Keystone Property SH Sole 2886000 13400 Kilroy Realty SH Sole 4002744 166800 Kramont Realty Trust SH Sole 3544700 14700 Liberty Property Tr SH Sole 6088489 58842 Macerich SH Sole 6032498 144118 Mack-Cali Realty SH Sole 6444722 81400 Maguire Properties SH Sole 6193630 139400 Meristar Hospitality SH Sole 117600 Mid-America Apartment Communities SH Sole 1711000 6100 Mills Corp SH Sole 6040122 153300 Mission West SH Sole 2331400 8100 Nationwide Health SH Sole 5290500 5500 New Plan Excel Rlty SH Sole 2033400 2700 Newcastle Investment Corporation SH Sole 3797676 Pan Pacific SH Sole 706258 42400 Pennsylvania REIT SH Sole 375500 4400 Post Properties SH Sole 3487070 162100 Prentiss Properties SH Sole 6132272 93300 ProLogis SH Sole 7505332 380500 Public Storage Inc. SH Sole 1884787 106400 Public Storage-Series A SH Sole 826200 Ramco-Gershenson SH Sole 1592100 10100 Reckson Assoc SH Sole 7901615 192800 Regency Centers Corp SH Sole 564270 31000 Rouse Co. SH Sole 4509136 211000 SL Green Realty SH Sole 1817538 96900 Shurgard Storage SH Sole 593950 41500 Simon Property Group SH Sole 6588860 234802 Sovran Self Storage SH Sole 744100 2900 Starwood Hotels SH Sole 4518857 306300 Summit Properties SH Sole 2937585 157800 Sun Communities SH Sole 2284055 114200 Taubman Centers SH Sole 4625230 240100 Town & Country SH Sole 272500 4400 United Dominion SH Sole 400400 21100 Urstadt Biddle Class A SH Sole 630100 Ventas Inc. SH Sole 10231060 123000 Vornado Realty Tr. SH Sole 8333399 253052 iShares Cohen & Steers Rlty Majors SH Sole 3790 iStar Financial SH Sole 3090000 8800 ACE Ltd. ADR 7.8% (ACE C) SH Sole 380400 AOL SR CABCO 7.625% (UYE) SH Sole 103200 ASBC TR 7.625% (ABW A) SH Sole 75500 Abbey Nat. ADR 7.375% (ANB B) SH Sole 105700 Abbey Nat. ADR 7.375% (ANB C) SH Sole 493264 Aetna Inc. SR 8.5% (AEF) SH Sole 32000 Agrium Inc. SH Sole 112400 Alexandria Real Est. Pr.B SH Sole 122800 Apartment Inv. Pr.D SH Sole 101871 Apartment Inv. Pr.G SH Sole 362700 Apartment Inv. Pr.Q SH Sole 109400 Apartment Inv. Pr.R SH Sole 1796900 Apartment Investments Pr.T SH Sole 120100 CBL & Assoc Prop 8.75% Pr.B SH Sole 492000 CBL & Associates Properties Pr.C SH Sole 500000 Capital Automotive REIT Pr.A SH Sole 270000 5000 Carramerica Realty Corp. Pr.E SH Sole 284200 Chelsea Property Pr.A SH Sole 176050 Chittenden Corp TR 8% (CHZ A) SH Sole 21300 Cobank 7.00% 144A SH Sole 200000 Colonial Cap Trust (CNB B) SH Sole 309200 Colonial Prop Pr.D SH Sole 510100 Colonial Properties Trust SH Sole 71900 Commercial Net Lease Pr.A SH Sole 219600 Corporate Office Properties Pr.F SH Sole 46400 Countrywide Cap TR 6.75% (CFC A) SH Sole 71100 Cousins Property Pr.A SH Sole 674660 Crescent Real Estate Pr.A SH Sole 2797100 Crescent Real Estate Pr.B SH Sole 153700 DaimlerChrys SR CBTCS 7.25% (JZO) SH Sole 23708 DaimlerChrys SR CBTCS 7.4% (XKX) SH Sole 37300 DaimlerChrys SR CORTS 7.875% (KCV) SH Sole 9600 DaimlerChrys SR CORTS 8% (KCN) SH Sole 10000 Dairy Farmers of America 7.875% 144A SH Sole 75000 Delphi Trust 8.25% (DPH A) SH Sole 450000 Developers Divers. Pr.F SH Sole 1311700 Developers Divers. Pr.G SH Sole 88700 Dominion CNG TR 7.8% (DMG A) SH Sole 78700 Energy East TR 8.25% (ECT) SH Sole 61000 Equity Inns Inc. Pr.B SH Sole 287500 Equity Office Pr.G SH Sole 15500 Everest Re TR 7.85% (RE A) SH Sole 8800 FMCC SR 7.6% (FCJ) SH Sole 82800 Federal Realty Pr.B SH Sole 380400 Felcor Lodging Pr.A SH Sole 322500 Felcor Lodging Pr.B SH Sole 837000 First Industrial Rlty Pr.D SH Sole 66400 First Industrial Rlty Pr.E SH Sole 14200 Fleet Boston TR 7.2% (FBF L) SH Sole 94800 Fleet Boston TR 7.2% (FBF M) SH Sole 87900 Ford Motor SR 7.5% (F A) SH Sole 101951 Ford Motor SR CORTS 8% (KVU) SH Sole 125000 Ford Motor SR SATURNS 8.125% (DKL) SH Sole 32200 GMAC SR 7.25% (GKM) SH Sole 104900 Glimcher Realty Pr.F SH Sole 600000 HRPT Properties Pr.B SH Sole 964900 Health Care Property Pr.F SH Sole 220000 5000 Health Care REIT Pr.D SH Sole 141300 Highwoods Prop. Pr.A SH Sole 46853 Highwoods Properties Pr.B SH Sole 54900 Highwoods Properties Pr.D SH Sole 177200 Home Properties Pr.F SH Sole 196000 Host Marriot Pr.A SH Sole 29600 Host Marriot Pr.B SH Sole 94400 Host Marriot Pr.C SH Sole 182600 Host Marriott Cv Pfd QUIP SH Sole 43800 ING Group JR 7.05% (IND) SH Sole 241600 ING Group JR 7.2% (INZ) SH Sole 165700 Innkeepers Pr.A SH Sole 399900 Innkeepers USA Pr.C SH Sole 496000 4000 Keystone Property Pr.D SH Sole 534000 Kilroy Realty Corp. Pr.E SH Sole 260314 4100 LTC Properties CV Pr.E SH Sole 262500 Laclede TR 7.7% (LG A) SH Sole 47900 Lasalle Hotel Prop Pr.A SH Sole 1226400 Lehman Bros. Holdings 6.50% (LEH F) SH Sole 212500 Liberty Media SR CBTCS 8.75% (XKI) SH Sole 197500 Liberty Media SR PPLUS 8.75% (PIS) SH Sole 89545 Lincoln National TR 7.65% (LNC V) SH Sole 52300 MBNA TR 8.1% (KRB E) SH Sole 166300 MBNA TR 8.125% (KRB D) SH Sole 234100 Mid-America Apartment Pr.H SH Sole 1334500 Mills Corp Pr.B SH Sole 1219500 Mills Corp Pr.C SH Sole 506900 Mills Corp. Pr.E SH Sole 529700 Nat'l Rural Utils JR 7.4% (NRS) SH Sole 48300 Nationwide Health Pr.P SH Sole 342457 New Plan Excel Pr.D 7.8% SH Sole 50600 Newcastle Investment Pr. B SH Sole 287400 Nexen Inc. Sub Notes (NXY B) SH Sole 606260 Northern States Pwr SR 8% (XCH) SH Sole 41700 Old Second TR 7.8% (OSBCP) SH Sole 90000 PS Business Parks Pr.A SH Sole 25600 PS Business Parks Pr.D SH Sole 806300 PS Business Parks Pr.F SH Sole 102100 PSEG Funding TR 8.75% (PEG U) SH Sole 199900 Pennsylvania REIT Pr. A SH Sole 290900 Post Properties Pr.A SH Sole 60000 ProLogis Pr.C SH Sole 39388 ProLogis Pr.D SH Sole 40048 Protective Life TR 7.5% (PL S) SH Sole 33700 Puget Sound Energy TR 8.4% (PSD) SH Sole 95800 RAMCO-Gershenson Pr.B SH Sole 258600 Realty Income Pr.B SH Sole 29400 Reckson Assoc Pr. A SH Sole 119400 RenaissanceRe ADR 7.3% (RNR B) SH Sole 65900 RenaissanceRe ADR 8.1% (RNR A) SH Sole 30900 SL Green Realty Corp. Pr.C SH Sole 394800 5200 Saul Centers Preferred Series A SH Sole 200000 Shaw Comm TR 8.45% (SJR A) SH Sole 186192 Shaw Comm TR 8.5% (SJR B) SH Sole 432300 Shurgard Storage Pr.D SH Sole 17900 Simon Property Pr.F SH Sole 55700 Southern California Edison 7.23% SH Sole 12300 Southern Union Gas SR 7.55% (SUG C) SH Sole 1040000 Southwest Gas Capital TR 7.70% (SWX B) SH Sole 600000 St. Paul TR 7.6% (SPC A) SH Sole 114130 Taubman Centers Pr.A SH Sole 725600 Tel & Data SR 7.6% (TDA) SH Sole 175600 Torchmark Capital I Pr.T SH Sole 41000 United Dominion Pr.B SH Sole 35300 Urstadt Biddle Prop Pr.C SH Sole 80000 Virginia Power Capital Trust Pr.A SH Sole 62061 Vodaphone/Centaur STOCK 9.08% (151327202) SH Sole 13908 Vornado Realty Pr.B SH Sole 20400 Vornado Realty Trust Pr.C SH Sole 49400 Zions Bank TR 8% (ZB B) SH Sole 18600 iStar Fin'l Pr.D SH Sole 206900 iStar Financial Pr.E SH Sole 460600 iStar Financial Pr.F SH Sole 594500 iStar Financial Pr.G SH Sole 494700 5300 REPORT SUMMARY 207 DATA RECORDS 10983094 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED