-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EVLRJlMBUdcWh17NEbh+SXmSmAuNASMWDf5adCwMgG4hy+8krAShSQQbbgCkpr+i kPp76xxAxrepJdRn2rNX9A== 0000845563-04-000125.txt : 20040817 0000845563-04-000125.hdr.sgml : 20040817 20040817083236 ACCESSION NUMBER: 0000845563-04-000125 CONFORMED SUBMISSION TYPE: 13F-HR/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040630 FILED AS OF DATE: 20040817 EFFECTIVENESS DATE: 20040817 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COHEN & STEERS CAPITAL MANAGEMENT INC CENTRAL INDEX KEY: 0000845563 IRS NUMBER: 013335336 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR/A SEC ACT: 1934 Act SEC FILE NUMBER: 028-02405 FILM NUMBER: 04980584 BUSINESS ADDRESS: STREET 1: 757 THIRD AVE CITY: NEW YORK STATE: NY ZIP: 10017-2013 BUSINESS PHONE: 2128323232 MAIL ADDRESS: STREET 1: 757 THIRD AVE CITY: NEW YORK STATE: NY ZIP: 10017-2013 13F-HR/A 1 f13f2q04.txt Cohen & Steers Capital Management, Inc. FORM 13F June 30, 2004 Value Shares/ Sh/ Name of Issuer Title of CUSIP (x$1000) Prn Amt Prn class - ------------------------------------------------------------------------------- AGL Resources COM 001204106 5607 193002 SH AMB Property Corp. COM 00163T109 75135 2169655 SH Affordable Residential Communities COM 008273104 37514 2259900 SH Alexanders Inc. COM 014752109 2080 12400 SH Ameren Corp COM 023608102 129678 3018579 SH American Electric Power Co COM 025537101 33232 1038499 SH Amli Residential COM 001735109 98292 3350100 SH Apartment Investment COM 03748R101 30770 988433 SH Archstone-Smith Tr. COM 039583109 415763 14175364 SH Arden Realty COM 039793104 277684 9441834 SH Atmos Energy Corp COM 049560105 17379 678863 SH AvalonBay Comm. COM 053484101 348026 6157580 SH BRE Properties COM 05564E106 110453 3178502 SH Boston Properties COM 101121101 356499 7118583 SH Brandywine Realty Tr. COM 105368203 170103 6256100 SH Brookfield Properties COM 112900105 124719 4338065 SH CBL & Associates COM 124830100 95179 1730533 SH CINergy Corp COM 172474108 136996 3605154 SH CRT Properties COM 22876P109 22165 958700 SH Camden Ppty Trust COM 133131102 108381 2366400 SH Capital Lease Funding Inc. COM 140288101 4798 461300 SH CarrAmerica Realty COM 144418100 245308 8114726 SH Catellus Development COM 149113102 124133 5035808 SH Cedar Shopping Centers Inc. COM 150602209 15856 1380000 SH Colonial Property Tr COM 195872106 106077 2753100 SH Commercial Net Lease COM 202218103 25805 1500300 SH Consolidated Edison Inc COM 209115104 93528 2352309 SH Crescent Real Estate COM 225756105 111565 6920905 SH DTE Energy Co COM 233331107 85630 2112245 SH Developers Divers. COM 251591103 145845 4123416 SH Dominion Resources Inc COM 25746U109 52624 834236 SH Duke Energy Corporation COM 264399106 45092 2222380 SH Eastgroup Properties COM 277276101 6848 203400 SH Energy East Corp COM 29266M109 19028 784640 SH Entergy Corp COM 29364G103 69788 1245988 SH Equitable Resources Inc COM 294549100 42059 813372 SH Equity Inns Inc COM 294703103 18296 1969400 SH Equity Office Pptys COM 294741103 432841 15913266 SH Equity Residential COM 29476L107 186600 6276477 SH Essex Property Tr. COM 297178105 102885 1505268 SH Exelon Corp COM 30161N101 67912 2040002 SH FPL Group Inc COM 302571104 9322 145770 SH Federal Realty Inv. COM 313747206 117989 2836954 SH First Industrial Rlty COM 32054K103 192654 5223800 SH FirstEnergy Corp COM 337932107 51634 1380215 SH Gables Residential Tr COM 362418105 162489 4781900 SH General Growth COM 370021107 93699 3168710 SH Glimcher Realty Tr COM 379302102 116747 5277900 SH HRPT Properties Tr. COM 40426W101 72987 7291400 SH Hawaiian Electric Industries COM 419870100 43111 1651764 SH Health Care Ppty COM 421915109 232943 9689808 SH Health Care REIT COM 42217K106 158152 4866225 SH Heritage Property Investment COM 42725M107 123607 4567900 SH Highwoods Properties COM 431284108 71908 3059900 SH Hilton Hotels Corp COM 432848109 82229 4406708 SH Home Properties COM 437306103 96370 2472300 SH Hospitality Pptys Tr COM 44106M102 161869 3826700 SH Host Marriott COM 44107P104 176335 14266570 SH Inland Real Estate Corp COM 457461101 4607 354100 SH Keyspan Corp COM 49337W100 77179 2102970 SH Kilroy Realty COM 49427F108 122345 3587829 SH Kinder Morgan Inc COM 49455P101 15209 256520 SH Kramont Realty Trust COM 50075Q107 56936 3558500 SH LTC Properties COM 502175102 8715 525000 SH Lexington Corporate COM 529043101 33214 1668200 SH Liberty Property Tr COM 531172104 216413 5382061 SH Macerich COM 554382101 287056 5996577 SH Mack-Cali Realty COM 554489104 294837 7125117 SH Maguire Properties COM 559775101 158194 6386510 SH Meristar Hospitality COM 58984Y103 630 92100 SH Mid-America Apartment Communities COM 59522J103 71896 1897500 SH Mills Corp COM 601148109 307667 6588167 SH Mission West COM 605203108 28792 2377500 SH Nationwide Health COM 638620104 145173 7681100 SH New Plan Excel Rlty COM 648053106 83087 3556800 SH Newcastle Investment Corporation COM 65105M108 148476 4957476 SH NiSource Inc COM 65473P105 12905 625862 SH Nstar COM 67019E107 13909 290500 SH PPL Corp COM 69351T106 33001 718983 SH Pan Pacific COM 69806L104 52728 1043708 SH Pennsylvania REIT COM 709102107 14327 418300 SH Pepco Holdings Inc COM 713291102 63364 3466313 SH Pinnacle West Capital Corp COM 723484101 64948 1608028 SH Post Properties COM 737464107 108528 3723085 SH Prentiss Properties COM 740706106 222153 6627472 SH ProLogis COM 743410102 300293 9121897 SH Progress Energy Inc COM 743263105 96890 2199549 SH Public Service Enterprise Group COM 744573106 87160 2177376 SH Public Storage Inc. COM 74460D109 140390 3051297 SH Public Storage-Series A COM 74460D729 21572 826200 SH Puget Energy Inc COM 745310102 30246 1380462 SH Ramco-Gershenson COM 751452202 39909 1647100 SH Reckson Assoc COM 75621K106 249808 9097160 SH Regency Centers Corp COM 758849103 37332 870210 SH Rouse Co. COM 779273101 227968 4799326 SH SL Green Realty COM 78440X101 118866 2539878 SH Scana Corp Hldg Co. COM 80589M102 4075 112054 SH Scottish Power Plc. COM 81013T705 10150 343959 SH Sempra Energy COM 816851109 7268 211105 SH Shurgard Storage COM 82567D104 107647 2878250 SH Simon Property Group COM 828806109 308677 6003062 SH Southern Co COM 842587107 138973 4767528 SH Sovran Self Storage COM 84610H108 38482 1007900 SH Starwood Hotels COM 85590A203 141771 3161002 SH Summit Properties COM 866239106 76812 2995805 SH Sun Communities COM 866674104 106634 2832245 SH TXU Corp COM 873168108 24270 599107 SH Taubman Centers COM 876664103 101040 4414175 SH Town & Country COM 892081100 44072 1746100 SH Urstadt Biddle Class A COM 917286205 9332 630100 SH Vectren Corporation COM 92240G101 14582 581191 SH Ventas Inc. COM 92276F100 253117 10840125 SH Vornado Realty Tr. COM 929042109 486247 8514226 SH Xcel Energy Inc COM 98389B100 18942 1133598 SH iStar Financial COM 45031U101 157252 3931300 SH ACE Ltd. ADR 7.8% (ACE C) PFD 016992496 10043 380400 SH AGL Capital Trust II PFD 001198209 280 10700 SH AOL SR CABCO 7.625% (UYE) PFD 126794205 2758 109900 SH ASBC TR 7.625% (ABW A) PFD 00209E207 1931 75500 SH Abbey Nat. ADR 7.375% (ANB B) PFD 002920700 2764 105700 SH Abbey Nat. ADR 7.375% (ANB C) PFD 002920809 12647 493264 SH Aetna Inc. SR 8.5% (AEF) PFD 00817Y207 849 32000 SH Affordable Residential Pr.A 8.25% PFD 008273203 20100 804000 SH Agrium Inc. PFD 008916207 2658 107600 SH Alexandria Real Est. Pr.B PFD 015271307 3271 122400 SH Alexandria Real Est. Pr.C PFD 015271406 25500 1000000 SH Apartment Inv. Pr.D PFD 03748R309 2526 100605 SH Apartment Inv. Pr.G PFD 03748R408 9386 362400 SH Apartment Inv. Pr.Q PFD 03748R853 2861 109200 SH Apartment Inv. Pr.R PFD 03748R846 47332 1795600 SH Apartment Investments Pr.T PFD 03748R838 2897 120100 SH Bedford Property Investors Pr.B PFD 076446608 11179 465800 SH Brandywine Realty Pr.C PFD 105368401 4843 199319 SH Brandywine Realty Pr.D PFD 105368500 679 27500 SH CBL & Assoc Prop 8.75% Pr.B PFD 124830308 25978 492000 SH CBL & Associates Properties Pr.C PFD 124830506 13688 541227 SH CRT Properties Pr.A PFD 22876P208 3470 135000 SH Capital Automotive 6.75% Pref. Monthly PFD 139733208 6657 300000 SH Capital Automotive REIT Pr.A PFD 139733117 8846 375000 SH Capital Automotive REIT Pr.B PFD 139733307 9700 400000 SH Carramerica Realty Corp. Pr.E PFD 144418704 2731 108000 SH Chelsea Property Pr.A PFD 163421209 9980 176050 SH Chevy Chase Bank 8.00% (CCX C) PFD 166779207 2378 87100 SH Cobank 7.00% 144A PFD 19075Q300 10161 200000 SH Colonial Cap Trust (CNB B) PFD 19560Q203 9565 369300 SH Colonial Properties Trust Pr.C PFD 195872304 1863 71800 SH Colonial Properties Trust Pr.D PFD 195872403 12892 503000 SH Commercial Net Lease Pr.A PFD 202218111 5780 219600 SH Con Edison 7.25% (EPB) PFD 209115203 328 12700 SH Corporate Office Properties Pr.F PFD 22002T405 1241 46400 SH Corporate Office Properties Pr.G PFD 22002T504 985 39400 SH Countrywide Cap TR 6.75% (CFC A) PFD 22238E206 1694 71100 SH Cousins Property Pr.A PFD 222795304 15177 602260 SH Crescent Real Estate Pr.A PFD 225756204 54759 2740700 SH Crescent Real Estate Pr.B PFD 225756402 3747 142900 SH DaimlerChrys SR CBTCS 7.25% (JZO) PFD 21988K206 597 23708 SH DaimlerChrys SR CBTCS 7.4% (XKX) PFD 21988G486 919 37300 SH Dairy Farmers of America 7.875% 144A PFD 23385H208 22152 225000 SH Delphi Trust 8.25% (DPH A) PFD 24717P207 11676 456100 SH Developers Divers. Pr.F PFD 251591871 33842 1311700 SH Developers Divers. Pr.G PFD 251591830 2129 83800 SH Developers Divers. Pr.H PFD 251591822 1272 52500 SH Developers Divers. Pr.I PFD 251591780 13965 600000 SH Dominion CNG TR 7.8% (DMG A) PFD 257206201 2015 78700 SH Duquesne Light Co. 6.50% (DQU H) PFD 266228824 9696 194900 SH EIX Trust 7.875% (EIX A) PFD 268540200 31022 1236925 SH EIX Trust 8.6% (EIX B) PFD 26853P206 2419 95900 SH Energy East TR 8.25% (ECT) PFD 29267G200 3155 120900 SH Enterprise Capital 7.44% (PEG S) PFD 293701207 1468 59400 SH Equity Inns Inc. Pr.B PFD 294703301 7216 287500 SH Equity Office Pr.G PFD 294741871 2040 80000 SH FMCC SR 7.6% (FCJ) PFD 345397301 950 38000 SH Federal Realty Pr.B PFD 313747503 10062 380400 SH Felcor Lodging Pr.A PFD 31430F200 7564 318500 SH Felcor Lodging Pr.B PFD 31430F408 20738 829500 SH First Industrial Rlty Pr.D PFD 32054K806 1688 66400 SH First Industrial Rlty Pr.E PFD 32054K889 327 12900 SH First Republic Cap 6.70% (FRC A) PFD 336158209 7525 318700 SH Fleet Boston TR 7.2% (FBF L) PFD 33889V207 2403 94800 SH Fleet Boston TR 7.2% (FBF M) PFD 33889X203 2225 87900 SH Ford Motor SR CORTS 8% (KVU) PFD 22082K209 2169 85000 SH Forest City Enterprises Pr.A PFD 345550404 14679 630000 SH Gables Residential Trust Pr.D PFD 362418402 1121 45200 SH Glimcher Realty Pr.F PFD 379302300 14970 591700 SH Glimcher Realty Pr.G PFD 379302409 15941 671200 SH HRPT Properties Pr.B PFD 40426W309 25377 964900 SH Health Care Property Pr.F PFD 421915125 1551 64000 SH Health Care REIT Pr.D PFD 42217K304 6425 256500 SH Highwoods Prop. Pr.A PFD 431284207 46970 46853 SH Highwoods Properties Pr.B PFD 431284306 3781 154450 SH Highwoods Properties Pr.D PFD 431284504 4872 200900 SH Home Properties Pr.F PFD 437306509 5361 196000 SH Host Marriott Cv Pfd QUIP PFD 441079407 1451 27900 SH Host Marriott Pr.A PFD 44107P203 758 29600 SH Host Marriott Pr.B PFD 44107P302 2436 94400 SH Host Marriott Pr.C PFD 44107P401 4802 182600 SH Host Marriott Pr.E PFD 44107P609 6108 240000 SH ING Group JR 7.05% (IND) PFD 456837202 6110 241600 SH ING Group JR 7.2% (INZ) PFD 456837301 4215 165700 SH Innkeepers USA Pr.C PFD 4576J0401 20116 834682 SH Keystone Property Pr.D PFD 493596308 8537 329600 SH Kilroy Realty Corp. Pr.E PFD 49427F405 10231 415914 SH Kramont Realty Pr.E PFD 50075Q404 10080 400000 SH LTC Properties Pr.F PFD 502175607 19600 800000 SH Laclede TR 7.7% (LG A) PFD 50558V201 1740 66300 SH Lasalle Hotel Prop Pr.A PFD 517942207 34169 1276400 SH Lexington Corp. Pr.B PFD 529043200 2513 100000 SH Liberty Media SR CBTCS 8.75% (XKI) PFD 21988G593 6659 250700 SH Liberty Media SR PPLUS 8.75% (PIS) PFD 740434808 4991 186945 SH Lincoln National TR 7.65% (LNC V) PFD 534042205 1621 63700 SH MBNA TR 8.1% (KRB E) PFD 55270B201 5992 230300 SH MBNA TR 8.125% (KRB D) PFD 55266J200 8778 341542 SH Maguire Properties Pr.A PFD 559775200 45976 1903776 SH Mid-America Apartment Pr.H PFD 59522J806 34295 1363600 SH Mills Corp Pr.B PFD 601148208 32333 1213700 SH Mills Corp Pr.C PFD 601148307 17453 660600 SH Mills Corp. Pr.E PFD 601148406 15493 591117 SH Nat'l Rural Utils JR 7.4% (NRS) PFD 637432600 1238 48300 SH Nationwide Health Pr.P PFD 638620203 32726 342457 SH New Plan Excel Pr.D 7.8% PFD 648053700 2584 50600 SH Newcastle Investment Pr. B PFD 65105M207 7853 286600 SH Nexen Inc. Sub Notes (NXY B) PFD 65334H508 15621 611160 SH Northern States Pwr SR 8% (XCH) PFD 665772794 1561 59700 SH Old Second TR 7.8% (OSBCP) PFD 680280104 936 90000 SH Omega Healthcare Pr. D PFD 681936407 25100 1000000 SH PS Business Parks Pr.D PFD 69360J503 21410 805500 SH PS Business Parks Pr.F PFD 69360J701 2685 102100 SH PS Business Parks Pr.H PFD 69360J875 3588 159100 SH PS Business Parks Pr.I PFD 69360J867 7479 340100 SH PS Business Parks Pr.K PFD 69360J834 8733 350000 SH PSEG Funding TR 8.75% (PEG U) PFD 69361X204 5734 211200 SH Pacific Gas & Electric 6.57% (PCG Y) PFD 694308693 6401 255000 SH PartnerRe Capital Trust I Pr.T PFD 70212C209 248 9600 SH Penelec Capital Trust Pr. X PFD 706871209 1877 75000 SH Pennsylvania REIT Pr. A PFD 709102206 17028 289100 SH Post Properties Pr.A PFD 737464206 3270 60000 SH ProLogis Pr.C PFD 743410409 2220 39388 SH Public Storage Pr.R PFD 74460D687 221 8600 SH Puget Sound Energy TR 8.4% (PSD) PFD 74531W201 3478 134900 SH RAMCO-Gershenson Pr.B PFD 751452400 6778 258200 SH Realty Income Pr.D PFD 756109609 1270 50000 SH Reckson Assoc Pr. A PFD 75621K205 4231 162100 SH RenaissanceRe ADR 7.3% (RNR B) PFD G7498P200 1661 65900 SH RenaissanceRe ADR 8.1% (RNR A) PFD G7496G202 954 36700 SH RenaissanceRe Hldngs. 6.08% (RNR C) PFD EP0112524 1005 46100 SH Roslyn Real Estate Variable Rate Ser. D PFD 778198408 10150 100 SH Royal Bank of Scotland Pr.H PFD 780097879 3316 132800 SH SL Green Realty Corp. Pr.C PFD 78440X309 30030 1201200 SH SL Green Realty Corp. Pr.D PFD 78440X408 10653 426100 SH Saul Centers Preferred Series A PFD 804395200 10820 424300 SH Shaw Comm TR 8.45% (SJR A) PFD 82028K606 9599 382442 SH Shaw Comm TR 8.5% (SJR B) PFD 82028K705 16520 658700 SH Simon Property Pr.F PFD 828806604 1459 55700 SH Southern California Edison 7.23% PFD 842400798 8158 82300 SH Southern Union Gas SR 7.55% (SUG C) PFD 844030601 33330 1262500 SH Southwest Gas Capital TR 7.70% (SWX B) PFD 844891200 15780 600000 SH St. Paul TR 7.6% (SPC A) PFD 85231F207 3590 139430 SH Taubman Centers Pr.A PFD 876664202 17962 722800 SH Tel & Data SR 7.6% (TDA) PFD 879433878 5142 205100 SH Torchmark Capital I Pr.T PFD 89102Q201 1072 41000 SH US Cellular 7.50% PFD 911684306 2494 100000 SH United Dominion Pr.B PFD 910197300 918 35300 SH Urstadt Biddle Prop Pr.C PFD 917286403 8760 80000 SH Virginia Power Capital Trust Pr.A PFD 928083203 1594 62061 SH Vodaphone/Centaur STOCK 9.08% (151327202) PFD 151327202 16673 13908 SH Vornado Realty Trust Pr.C PFD 929042406 1250 49400 SH XL Capital ADR 7.625% (XL B) PFD EP0067892 345 13600 SH Zions Bank TR 8% (ZB B) PFD 989703202 261 10000 SH iStar Fin'l Pr.D PFD 45031U408 6763 276600 SH iStar Financial Pr.E PFD 45031U507 22010 889300 SH iStar Financial Pr.F PFD 45031U606 17175 724700 SH iStar Financial Pr.G PFD 45031U705 13893 574100 SH iStar Financial Pr.I PFD 45031U804 8523 366740 SH Voting Authority --------------------------- Put/ Invstmt Other Name of Issuer Call Dscretn Managers Sole Shared None - ------------------------------------------------------------------------------- AGL Resources Sole 193002 AMB Property Corp. Sole 2064355 105300 Affordable Residential Communities Sole 2212800 47100 Alexanders Inc. Sole 12400 Ameren Corp Sole 3018579 American Electric Power Co Sole 1038499 Amli Residential Sole 3339800 10300 Apartment Investment Sole 945933 42500 Archstone-Smith Tr. Sole 13792404 382960 Arden Realty Sole 9302520 139314 Atmos Energy Corp Sole 678863 AvalonBay Comm. Sole 5921796 235784 BRE Properties Sole 3010202 168300 Boston Properties Sole 6785295 333288 Brandywine Realty Tr. Sole 6240700 15400 Brookfield Properties Sole 4099965 238100 CBL & Associates Sole 1655633 74900 CINergy Corp Sole 3605154 CRT Properties Sole 954100 4600 Camden Ppty Trust Sole 2362300 4100 Capital Lease Funding Inc. Sole 461300 CarrAmerica Realty Sole 7959072 155654 Catellus Development Sole 4754019 281789 Cedar Shopping Centers Inc. Sole 1380000 Colonial Property Tr Sole 2746200 6900 Commercial Net Lease Sole 1500300 Consolidated Edison Inc Sole 2352309 Crescent Real Estate Sole 6855205 65700 DTE Energy Co Sole 2112245 Developers Divers. Sole 3960634 162782 Dominion Resources Inc Sole 834236 Duke Energy Corporation Sole 2222380 Eastgroup Properties Sole 200700 2700 Energy East Corp Sole 784640 Entergy Corp Sole 1245988 Equitable Resources Inc Sole 813372 Equity Inns Inc Sole 1957800 11600 Equity Office Pptys Sole 15669168 244098 Equity Residential Sole 6038177 238300 Essex Property Tr. Sole 1423168 82100 Exelon Corp Sole 2040002 FPL Group Inc Sole 145770 Federal Realty Inv. Sole 2684554 152400 First Industrial Rlty Sole 5215900 7900 FirstEnergy Corp Sole 1380215 Gables Residential Tr Sole 4773500 8400 General Growth Sole 3055410 113300 Glimcher Realty Tr Sole 5266100 11800 HRPT Properties Tr. Sole 7291400 Hawaiian Electric Industries Sole 1651764 Health Care Ppty Sole 9671800 18008 Health Care REIT Sole 4861025 5200 Heritage Property Investment Sole 4558800 9100 Highwoods Properties Sole 3052900 7000 Hilton Hotels Corp Sole 4095908 310800 Home Properties Sole 2465200 7100 Hospitality Pptys Tr Sole 3821300 5400 Host Marriott Sole 13466570 800000 Inland Real Estate Corp Sole 352700 1400 Keyspan Corp Sole 2102970 Kilroy Realty Sole 3454729 133100 Kinder Morgan Inc Sole 256520 Kramont Realty Trust Sole 3543800 14700 LTC Properties Sole 525000 Lexington Corporate Sole 1663400 4800 Liberty Property Tr Sole 5342719 39342 Macerich Sole 5858259 138318 Mack-Cali Realty Sole 7019617 105500 Maguire Properties Sole 6251210 135300 Meristar Hospitality Sole 92100 Mid-America Apartment Communities Sole 1893500 4000 Mills Corp Sole 6400367 187800 Mission West Sole 2371900 5600 Nationwide Health Sole 7675600 5500 New Plan Excel Rlty Sole 3552100 4700 Newcastle Investment Corporation Sole 4957476 NiSource Inc Sole 625862 Nstar Sole 290500 PPL Corp Sole 718983 Pan Pacific Sole 988108 55600 Pennsylvania REIT Sole 413900 4400 Pepco Holdings Inc Sole 3466313 Pinnacle West Capital Corp Sole 1608028 Post Properties Sole 3562085 161000 Prentiss Properties Sole 6535572 91900 ProLogis Sole 8624597 497300 Progress Energy Inc Sole 2199549 Public Service Enterprise Group Sole 2177376 Public Storage Inc. Sole 2885697 165600 Public Storage-Series A Sole 826200 Puget Energy Inc Sole 1380462 Ramco-Gershenson Sole 1641700 5400 Reckson Assoc Sole 8927060 170100 Regency Centers Corp Sole 819710 50500 Rouse Co. Sole 4569226 230100 SL Green Realty Sole 2398378 141500 Scana Corp Hldg Co. Sole 112054 Scottish Power Plc. Sole 343959 Sempra Energy Sole 211105 Shurgard Storage Sole 2745850 132400 Simon Property Group Sole 5777660 225402 Southern Co Sole 4767528 Sovran Self Storage Sole 1005000 2900 Starwood Hotels Sole 2873202 287800 Summit Properties Sole 2840905 154900 Sun Communities Sole 2705045 127200 TXU Corp Sole 599107 Taubman Centers Sole 4193675 220500 Town & Country Sole 1740500 5600 Urstadt Biddle Class A Sole 630100 Vectren Corporation Sole 581191 Ventas Inc. Sole 10622725 217400 Vornado Realty Tr. Sole 8230574 283652 Xcel Energy Inc Sole 1133598 iStar Financial Sole 3924000 7300 ACE Ltd. ADR 7.8% (ACE C) Sole 380400 AGL Capital Trust II Sole 10700 AOL SR CABCO 7.625% (UYE) Sole 109900 ASBC TR 7.625% (ABW A) Sole 75500 Abbey Nat. ADR 7.375% (ANB B) Sole 105700 Abbey Nat. ADR 7.375% (ANB C) Sole 493264 Aetna Inc. SR 8.5% (AEF) Sole 32000 Affordable Residential Pr.A 8.25% Sole 804000 Agrium Inc. Sole 107600 Alexandria Real Est. Pr.B Sole 122400 Alexandria Real Est. Pr.C Sole 1000000 Apartment Inv. Pr.D Sole 100605 Apartment Inv. Pr.G Sole 362400 Apartment Inv. Pr.Q Sole 109200 Apartment Inv. Pr.R Sole 1795600 Apartment Investments Pr.T Sole 120100 Bedford Property Investors Pr.B Sole 465800 Brandywine Realty Pr.C Sole 199319 Brandywine Realty Pr.D Sole 27500 CBL & Assoc Prop 8.75% Pr.B Sole 492000 CBL & Associates Properties Pr.C Sole 541227 CRT Properties Pr.A Sole 135000 Capital Automotive 6.75% Pref. Monthly Sole 300000 Capital Automotive REIT Pr.A Sole 370000 5000 Capital Automotive REIT Pr.B Sole 400000 Carramerica Realty Corp. Pr.E Sole 108000 Chelsea Property Pr.A Sole 176050 Chevy Chase Bank 8.00% (CCX C) Sole 87100 Cobank 7.00% 144A Sole 200000 Colonial Cap Trust (CNB B) Sole 369300 Colonial Properties Trust Pr.C Sole 71800 Colonial Properties Trust Pr.D Sole 503000 Commercial Net Lease Pr.A Sole 219600 Con Edison 7.25% (EPB) Sole 12700 Corporate Office Properties Pr.F Sole 46400 Corporate Office Properties Pr.G Sole 39400 Countrywide Cap TR 6.75% (CFC A) Sole 71100 Cousins Property Pr.A Sole 602260 Crescent Real Estate Pr.A Sole 2740700 Crescent Real Estate Pr.B Sole 142900 DaimlerChrys SR CBTCS 7.25% (JZO) Sole 23708 DaimlerChrys SR CBTCS 7.4% (XKX) Sole 37300 Dairy Farmers of America 7.875% 144A Sole 225000 Delphi Trust 8.25% (DPH A) Sole 456100 Developers Divers. Pr.F Sole 1311700 Developers Divers. Pr.G Sole 83800 Developers Divers. Pr.H Sole 52500 Developers Divers. Pr.I Sole 600000 Dominion CNG TR 7.8% (DMG A) Sole 78700 Duquesne Light Co. 6.50% (DQU H) Sole 194900 EIX Trust 7.875% (EIX A) Sole 1236925 EIX Trust 8.6% (EIX B) Sole 95900 Energy East TR 8.25% (ECT) Sole 120900 Enterprise Capital 7.44% (PEG S) Sole 59400 Equity Inns Inc. Pr.B Sole 287500 Equity Office Pr.G Sole 80000 FMCC SR 7.6% (FCJ) Sole 38000 Federal Realty Pr.B Sole 380400 Felcor Lodging Pr.A Sole 318500 Felcor Lodging Pr.B Sole 829500 First Industrial Rlty Pr.D Sole 66400 First Industrial Rlty Pr.E Sole 12900 First Republic Cap 6.70% (FRC A) Sole 318700 Fleet Boston TR 7.2% (FBF L) Sole 94800 Fleet Boston TR 7.2% (FBF M) Sole 87900 Ford Motor SR CORTS 8% (KVU) Sole 85000 Forest City Enterprises Pr.A Sole 630000 Gables Residential Trust Pr.D Sole 45200 Glimcher Realty Pr.F Sole 591700 Glimcher Realty Pr.G Sole 668400 2800 HRPT Properties Pr.B Sole 964900 Health Care Property Pr.F Sole 59000 5000 Health Care REIT Pr.D Sole 256500 Highwoods Prop. Pr.A Sole 46853 Highwoods Properties Pr.B Sole 154450 Highwoods Properties Pr.D Sole 200900 Home Properties Pr.F Sole 196000 Host Marriott Cv Pfd QUIP Sole 27900 Host Marriott Pr.A Sole 29600 Host Marriott Pr.B Sole 94400 Host Marriott Pr.C Sole 182600 Host Marriott Pr.E Sole 240000 ING Group JR 7.05% (IND) Sole 241600 ING Group JR 7.2% (INZ) Sole 165700 Innkeepers USA Pr.C Sole 830682 4000 Keystone Property Pr.D Sole 329600 Kilroy Realty Corp. Pr.E Sole 411814 4100 Kramont Realty Pr.E Sole 400000 LTC Properties Pr.F Sole 800000 Laclede TR 7.7% (LG A) Sole 66300 Lasalle Hotel Prop Pr.A Sole 1276400 Lexington Corp. Pr.B Sole 100000 Liberty Media SR CBTCS 8.75% (XKI) Sole 250700 Liberty Media SR PPLUS 8.75% (PIS) Sole 186945 Lincoln National TR 7.65% (LNC V) Sole 63700 MBNA TR 8.1% (KRB E) Sole 230300 MBNA TR 8.125% (KRB D) Sole 341542 Maguire Properties Pr.A Sole 1898276 5500 Mid-America Apartment Pr.H Sole 1363600 Mills Corp Pr.B Sole 1213700 Mills Corp Pr.C Sole 660600 Mills Corp. Pr.E Sole 591117 Nat'l Rural Utils JR 7.4% (NRS) Sole 48300 Nationwide Health Pr.P Sole 342457 New Plan Excel Pr.D 7.8% Sole 50600 Newcastle Investment Pr. B Sole 286600 Nexen Inc. Sub Notes (NXY B) Sole 611160 Northern States Pwr SR 8% (XCH) Sole 59700 Old Second TR 7.8% (OSBCP) Sole 90000 Omega Healthcare Pr. D Sole 1000000 PS Business Parks Pr.D Sole 805500 PS Business Parks Pr.F Sole 102100 PS Business Parks Pr.H Sole 159100 PS Business Parks Pr.I Sole 340100 PS Business Parks Pr.K Sole 350000 PSEG Funding TR 8.75% (PEG U) Sole 211200 Pacific Gas & Electric 6.57% (PCG Y) Sole 255000 PartnerRe Capital Trust I Pr.T Sole 9600 Penelec Capital Trust Pr. X Sole 75000 Pennsylvania REIT Pr. A Sole 289100 Post Properties Pr.A Sole 60000 ProLogis Pr.C Sole 39388 Public Storage Pr.R Sole 8600 Puget Sound Energy TR 8.4% (PSD) Sole 134900 RAMCO-Gershenson Pr.B Sole 258200 Realty Income Pr.D Sole 50000 Reckson Assoc Pr. A Sole 162100 RenaissanceRe ADR 7.3% (RNR B) Sole 65900 RenaissanceRe ADR 8.1% (RNR A) Sole 36700 RenaissanceRe Hldngs. 6.08% (RNR C) Sole 46100 Roslyn Real Estate Variable Rate Ser. D Sole 100 Royal Bank of Scotland Pr.H Sole 132800 SL Green Realty Corp. Pr.C Sole 1196000 5200 SL Green Realty Corp. Pr.D Sole 426100 Saul Centers Preferred Series A Sole 424300 Shaw Comm TR 8.45% (SJR A) Sole 382442 Shaw Comm TR 8.5% (SJR B) Sole 658700 Simon Property Pr.F Sole 55700 Southern California Edison 7.23% Sole 82300 Southern Union Gas SR 7.55% (SUG C) Sole 1262500 Southwest Gas Capital TR 7.70% (SWX B) Sole 600000 St. Paul TR 7.6% (SPC A) Sole 139430 Taubman Centers Pr.A Sole 722800 Tel & Data SR 7.6% (TDA) Sole 205100 Torchmark Capital I Pr.T Sole 41000 US Cellular 7.50% Sole 100000 United Dominion Pr.B Sole 35300 Urstadt Biddle Prop Pr.C Sole 80000 Virginia Power Capital Trust Pr.A Sole 62061 Vodaphone/Centaur STOCK 9.08% (151327202) Sole 13908 Vornado Realty Trust Pr.C Sole 49400 XL Capital ADR 7.625% (XL B) Sole 13600 Zions Bank TR 8% (ZB B) Sole 10000 iStar Fin'l Pr.D Sole 276600 iStar Financial Pr.E Sole 889300 iStar Financial Pr.F Sole 724700 iStar Financial Pr.G Sole 568800 5300 iStar Financial Pr.I Sole 366740 -----END PRIVACY-ENHANCED MESSAGE-----