UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 29, 2007
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Cohen & Steers Capital Management Inc.
Address: 280 Park Avenue
10th Floor
New York, NY 10017
Form 13F File Number: 28-2405
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Lisa Phelan
Title: Vice President and Chief Compliance Officer
Phone: (212) 832-3232
Signature, Place, and Dating of Signing:
/s/ Robert Steers New York, NY August 10, 2007
----------------- --------------- ------------------
Report Type (Check only one.):
[ ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[X] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
028-01190 FRANK RUSSELL COMPANY
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 358
Form 13F Information Table Value Total: 19,668,599 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
No. Form 13F File Number Name
01 Cohen & Steers Europe SA
FORM 13F INFORMATION TABLE
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
-------------------------- ------- -------- ------- --------------- ------- -------- --------------------------
TITLE
OF VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (X$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------------------- ------- -------- ------- --------- -------- ------- -------- ------ ------- -------
3M Co Common COM 88579Y101 2,534 29,200 SH Sole 29,200 -
Abbott Laboratories Common COM 002824100 15,856 296,100 SH Sole 296,100 -
ACE Ltd Common COM G0070K103 12,323 197,100 SH Sole 197,100 -
Advent Claymore Conv Sec & Inc COM 00764C109 17,276 625,279 SH Sole 625,279 -
Advent/Claymore Enh Gr & Inc CEF COM 00765E104 4,337 225,749 SH Sole 225,749 -
AES Corp Common COM 00130H105 2,050 93,700 SH Sole 93,700 -
Aflac Inc COM 001055102 20,904 406,700 SH Sole 406,700 -
AGL Resources Inc COM 001204106 13,014 321,500 SH Sole 321,500 -
Alcoa Inc Common COM 013817101 3,725 91,900 SH Sole 91,900 -
Alexandria Real Estate Equitie COM 015271109 140,600 1,452,176 SH Sole 1,312,839 139,337
Allegheny Energy, Inc. COM 017361106 3,156 61,000 SH Sole 61,000 -
Alliant Energy Corp Common COM 018802108 311 8,000 SH Sole 8,000 -
Allstate Corp/The Common COM 020002101 14,049 228,400 SH Sole 228,400 -
Alpine Global Dynamic Div CEF COM 02082E106 6,116 252,203 SH Sole 252,203 -
Alpine Total Dynamic Div Fund COM 021060108 9,272 447,075 SH Sole 447,075 -
Altria Group Inc Common COM 02209S103 12,471 177,800 SH Sole 177,800 -
AMB Property Corp Common COM 00163T109 88,608 1,664,933 SH Sole 1,493,233 171,700
Ameren Corp Common COM 023608102 91,119 1,859,200 SH Sole 1,859,200 -
America Movil SAB de CV ADR COM 02364W105 10,522 169,900 SH Sole 169,900 -
American Campus Communities In COM 024835100 64,986 2,297,132 SH Sole 2,235,632 61,500
American Electric Power Co Inc COM 025537101 12,881 286,000 SH Sole 286,000 -
American International Group I COM 026874107 13,957 199,300 SH Sole 199,300 -
Annaly Capital Management Common COM 035710409 35,447 2,458,200 SH Sole 2,458,200 -
Apartment Invt & Mgmt COM 03748R101 422,958 8,388,682 SH Sole 7,766,671 622,011
Archer Daniels Midland Common COM 039483102 8,789 265,600 SH Sole 265,600 -
Archstone-Smith Trust Common COM 039583109 126,969 2,148,013 SH Sole 2,025,105 122,908
AT&T Common COM 00206R102 48,598 1,171,027 SH Sole 1,171,027 -
Atmos Energy Corp Common COM 049560105 6,328 210,500 SH Sole 210,500 -
AvalonBay Communities Inc Common COM 053484101 500,283 4,208,299 SH Sole 3,818,076 390,223
Baker Hughes Inc Common COM 057224107 8,893 105,700 SH Sole 105,700 -
Bank of America Corp Common COM 060505104 25,750 526,700 SH Sole 526,700 -
Becton Dickinson & Co Common COM 075887109 246 3,300 SH Sole 3,300 -
Bemis Co Common COM 081437105 2,256 68,000 SH Sole 68,000 -
BioMed Realty Trust Inc Common COM 09063H107 238,814 9,506,914 SH Sole 8,606,914 900,000
Blackrock Corp HY Fund VI CEF COM 09255P107 4,406 327,100 SH Sole 327,100 -
Blackrock Corporate High Y CEF COM 09255L106 2,524 305,600 SH Sole 305,600 -
Blackrock Corporate High Yield COM 09255N102 1,551 114,600 SH Sole 114,600 -
Blackrock Dividend Achievers CEF COM 09250N107 2,871 195,278 SH Sole 195,278 -
Blackrock Global Enrg & Res CEF COM 09250U101 9,786 319,700 SH Sole 319,700 -
Blackrock Global Eq Inc Tr CEF COM 09255D104 490 25,085 SH Sole 25,085 -
Blackrock Health Sciences Trus COM 09250W107 4,888 183,900 SH Sole 183,900 -
Blackrock Inc. Common Stock COM 09247X101 10,405 66,450 SH Sole 66,450 -
Blackrock Ltd Duration Inc Tru COM 09249W101 361 18,954 SH Sole 18,954 -
Blackrock Pfd & Eq Adv Tr CEF COM 092508100 8,764 397,118 SH Sole 397,118 -
Blackrock Real Asset Equity CEF COM 09254B109 5,266 327,100 SH Sole 327,100 -
Blackrock Strat Dvd Achv Trs CEF COM 09249Y107 3,731 256,400 SH Sole 256,400 -
Boeing Co Common COM 097023105 5,356 55,700 SH Sole 55,700 -
Boston Properties Inc Common COM 101121101 606,576 5,939,250 SH Sole 5,284,891 654,359
Brandywine Realty Trust Common COM 105368203 209,731 7,338,382 SH Sole 7,253,799 84,583
BRE Properties Inc Common COM 05564E106 283,691 4,784,803 SH Sole 4,132,503 652,300
Brookfield Properties Co Common COM 112900105 290,815 11,962,775 SH Sole 10,415,887 1,546,888
C&S REIT and Utility Income Fu COM 19247Y108 132 6,201 SH Sole 6,201 -
C&S Select Utility Fund CEF COM 19248A109 152 5,786 SH Sole 5,786 -
Calamos Convertible & Income F COM 12811P108 488 30,000 SH Sole 30,000 -
Calamos Global Total Return CEF COM 128118106 1,170 65,000 SH Sole 65,000 -
Calamos Strat Tot Return Fd CEF COM 128125101 19,704 1,302,300 SH Sole 1,302,300 -
Camden Property Trust Common COM 133131102 219,433 3,276,593 SH Sole 3,038,393 238,200
Canadian Pacific Railway Ltd COM 13645T100 17 250 SH Sole 250 -
Capital And Inc Strat Fd Inc COM 09256A109 4,222 191,200 SH Sole 191,200 -
Carnival Corp Common COM 143658300 3,431 70,350 SH Sole 70,350 -
CBL & Associates Properties COM 124830100 43,081 1,195,020 SH Sole 1,155,420 39,600
Cedar Shopping Centers Inc COM 150602209 92,429 6,441,000 SH Sole 6,351,200 89,800
Chevron Corp Common COM 166764100 12,914 153,300 SH Sole 153,300 -
China Mobile Ltd ADR COM 16941M109 3,458 64,150 SH Sole 64,150 -
Citigroup Inc Common COM 172967101 18,746 365,500 SH Sole 365,500 -
Citizens Communications Co COM 17453B101 28,327 1,855,100 SH Sole 1,855,100 -
Cleco Corp Common COM 12561W105 12,769 521,200 SH Sole 521,200 -
Clough Global Allocation Fd CEF COM 18913Y103 2,099 99,600 SH Sole 99,600 -
Clough Global Equity Fund CEF COM 18914C100 3,534 171,900 SH Sole 171,900 -
Clough Global Opportunities Fu COM 18914E106 11,962 669,000 SH Sole 669,000 -
CMS Energy Corp Common COM 125896100 1,988 115,600 SH Sole 115,600 -
CNOOC Ltd ADR COM 126132109 40 350 SH Sole 350 -
Coca-Cola Co/The Common COM 191216100 2,275 43,500 SH Sole 43,500 -
Colonial Properties Trust Common COM 195872106 144,235 3,957,070 SH Sole 3,899,870 57,200
Comerica Common COM 200340107 6,375 107,200 SH Sole 107,200 -
Comverge Common COM 205859101 493 15,900 SH Sole 15,900 -
ConocoPhillips Common COM 20825C104 10,621 135,300 SH Sole 135,300 -
Consolidated Edison Inc Common COM 209115104 99,566 2,206,700 SH Sole 2,206,700 -
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
--------------------------- ------- --------- ------- ----------------- ------- -------- --------------------------
TITLE
OF VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
--------------------------- ------- -------- ------- -------- --- ---- ------- -------- ---- ------ ------
Constellation Energy Group Inc COM 210371100 25,018 287,000 SH Sole 287,000 -
Corporate Office Properties Tr COM 22002T108 3,798 92,600 SH Sole 92,600 -
Costco Wholesale Corp Common COM 22160K105 7,157 122,300 SH Sole 122,300 -
Countrywide Financial Corp COM 222372104 3,459 95,150 SH Sole 95,150 -
DCP Midstream Partners LP Common COM 23311P100 17,604 377,600 SH Sole 377,600 -
DCT Industrial Trust Common COM 233153105 100,147 9,307,314 SH Sole 9,180,114 127,200
Developers Diversified Realty COM 251591103 232,808 4,416,775 SH Sole 3,942,894 473,881
Devon Energy Corp Common COM 25179M103 12,245 156,400 SH Sole 156,400 -
Diageo PLC ADR COM 25243Q205 10,097 121,200 SH Sole 121,200 -
DiamondRock Hospitality Co COM 252784301 85,963 4,505,400 SH Sole 4,448,300 57,100
Digital Realty Trust Inc Common COM 253868103 5,550 147,300 SH Sole 147,300 -
Dividend Cap Real Inc Alloc COM 25537T105 5,718 395,712 SH Sole 395,712 -
Dominion Resources Inc/VA Common COM 25746U109 62,765 727,200 SH Sole 727,200 -
Douglas Emmett Common COM 25960P109 44,915 1,815,463 SH Sole 1,607,863 207,600
Dow 30 Enhanced Preimium & Ino COM 260537105 61 3,200 SH Sole 3,200 -
Dow 30 Prem & Div Inc Fund COM 260582101 483 23,000 SH Sole 23,000 -
Dow Chemical Co/The Common COM 260543103 7,929 179,300 SH Sole 179,300 -
DPL Inc Common COM 233293109 10,188 359,500 SH Sole 359,500 -
DREMAN/CLAYMORE CEF COM 26153R100 4,530 210,900 SH Sole 210,900 -
DTE Energy Co Common COM 233331107 95,799 1,986,700 SH Sole 1,986,700 -
Duke Energy Corp Common COM 26441C105 157,693 8,617,120 SH Sole 8,617,120 -
Duke Realty Corp Common COM 264411505 1,261 35,345 SH Sole 35,345 -
Duncan Energy Partners Common COM 265026104 3,882 147,900 SH Sole 147,900 -
DWS Glbl Commodities Stk COM 23338Y100 5,192 279,001 SH Sole 279,001 -
DWS RREEF Real Estate COM 233384106 5,345 225,547 SH Sole 225,547 -
DWS RREEF Real Estate II COM 23338X102 8,161 450,900 SH Sole 450,900 -
Dynegy Inc Class A Common COM 26817G102 562 59,500 SH Sole 59,500 -
E.ON AG ADR COM 268780103 86,661 1,557,538 SH Sole 1,557,538 -
EastGroup Properties Inc Common COM 277276101 129,450 2,954,131 SH Sole 2,707,790 246,341
Eastman Chemical Company Common COM 277432100 2,252 35,000 SH Sole 35,000 -
Eaton Vance Enh Eqt Inc II COM 278277108 17,058 830,884 SH Sole 830,884 -
Eaton Vance Enhanced Eq Incm COM 278274105 4,294 209,283 SH Sole 209,283 -
Eaton Vance Ltd Duration Inc F COM 27828H105 21 1,157 SH Sole 1,157 -
Eaton Vance T/M Buy-Write Inco COM 27828X100 4,831 236,790 SH Sole 236,790 -
Eaton Vance T/M Buy-Write Opp COM 27828Y108 11,704 598,962 SH Sole 598,962 -
Eaton Vance TA Gl Div & Inc COM 27828S101 11,819 427,000 SH Sole 427,000 -
Eaton Vance TA GL Div Opp COM 27828U106 2,363 69,500 SH Sole 69,500 -
Eaton Vance Tax Man Glbl Br COM 27829C105 18,632 959,900 SH Sole 959,900 -
Eaton Vance Tax Man Glbl COM 27829F108 7,712 395,462 SH Sole 395,462 -
Eaton Vance Tax-Adv Dvd Inc COM 27828G107 12,576 426,900 SH Sole 426,900 -
Eaton Vance Tax-Mgd Dvsfied Eq COM 27828N102 17,938 918,017 SH Sole 918,017 -
Edison International Common COM 281020107 56,908 1,014,040 SH Sole 1,014,040 -
Education Realty Trust Inc COM 28140H104 58,382 4,161,200 SH Sole 4,060,300 100,900
EI Du Pont de Nemours & Co COM 263534109 4,474 88,000 SH Sole 88,000 -
Eli Lilly and Co Common COM 532457108 4,705 84,200 SH Sole 84,200 -
Enel SpA -Spon ADR Common COM 29265W108 11,648 216,900 SH Sole 216,900 -
Energy Income And Growth Fd COM 292697109 3,323 119,100 SH Sole 119,100 -
EnergySouth Common COM 292970100 510 10,000 SH Sole 10,000 -
Enernoc Inc Common COM 292764107 763 20,000 SH Sole 20,000 -
Entergy Corp Common COM 29364G103 145,610 1,356,404 SH Sole 1,356,404 -
Enterprise Products Ptnrs Common COM 293792107 15,100 474,700 SH Sole 474,700 -
Entertainment Properties Trust COM 29380T105 66,413 1,234,900 SH Sole 1,208,600 26,300
Equitable Resources Inc Common COM 294549100 72,517 1,463,220 SH Sole 1,463,220 -
Equity Inns Inc Common COM 294703103 22,315 996,200 SH Sole 910,400 85,800
Equity Lifestyle Properties COM 29472R108 68,206 1,306,886 SH Sole 1,167,886 139,000
Equity One Inc Common COM 294752100 109,104 4,270,253 SH Sole 3,970,195 300,058
Equity Residential Common COM 29476L107 617,534 13,533,508 SH Sole 12,144,093 1,389,415
Essex Property Trust Inc Common COM 297178105 101,540 873,095 SH Sole 783,564 89,531
Evergreen Global Div Opptnty COM 30024H101 8,216 405,739 SH Sole 405,739 -
Evergreen Util & High Income COM 30034Q109 1,268 46,726 SH Sole 46,726 -
Exelon Corp Common COM 30161N101 179,815 2,476,797 SH Sole 2,476,797 -
Extra Space Storage Inc Common COM 30225T102 126,000 7,636,358 SH Sole 6,879,158 757,200
Exxon Mobil Corp Common COM 30231G102 12,402 147,850 SH Sole 147,850 -
Fairpoint Communications Inc COM 305560104 34,453 1,941,000 SH Sole 1,941,000 -
Federal Realty Invs Trust Common COM 313747206 259,342 3,356,744 SH Sole 2,914,713 442,031
Fiduciary/Claymore Mlp Oppor COM 31647Q106 3,768 154,700 SH Sole 154,700 -
Fifth Third Bancorp Common COM 316773100 5,938 149,300 SH Sole 149,300 -
First Industrial Realty Trust COM 32054K103 49,772 1,284,100 SH Sole 1,284,100 -
First Potomac Realty Trust COM 33610F109 45,724 1,963,250 SH Sole 1,884,513 78,737
FirstEnergy Corp Common COM 337932107 101,966 1,575,255 SH Sole 1,575,255 -
Forest City Enterprises Inc COM 345550107 20,795 338,240 SH Sole 243,540 94,700
Fortress Investment Group COM 34958B106 6,867 288,300 SH Sole 288,300 -
FPL Group Inc Common COM 302571104 110,418 1,946,036 SH Sole 1,946,036 -
Freddie Mac Common COM 313400301 8,868 146,100 SH Sole 146,100 -
Gabelli Dividend & Income Tr COM 36242H104 12,126 542,808 SH Sole 542,808 -
Gabelli Global Deal Fund COM 36245G103 457 24,700 SH Sole 24,700 -
General Dynamics Corp Common COM 369550108 14,205 181,600 SH Sole 181,600 -
General Electric Co Common COM 369604103 14,902 389,300 SH Sole 389,300 -
General Growth Properties Inc COM 370021107 241,311 4,557,322 SH Sole 3,465,073 1,092,249
General Mills Inc Common COM 370334104 2,284 39,100 SH Sole 39,100 -
Glimcher Realty Trust Common COM 379302102 146,731 5,869,234 SH Sole 5,712,934 156,300
GlobalSantaFe Corp Common COM G3930E101 10,664 147,600 SH Sole 147,600 -
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
--------------------------- ------- --------- ------- ----------------- ------- -------- --------------------------
TITLE
OF VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
--------------------------- ------- --------- ------- -------- --- ---- ------- -------- ------ ------- ------
GMH Communities Trust Common COM 36188G102 20,672 2,133,300 SH Sole 2,133,300 -
Gramercy Capital Corp/New York COM 384871109 60,533 2,198,000 SH Sole 2,198,000 -
H & Q Life Sciences Invstrs CEF COM 404053100 1,896 140,000 SH Sole 140,000 -
HCC Insurance Holdings Inc COM 404132102 14,129 422,900 SH Sole 422,900 -
Health Care Property Investors COM 421915109 250,484 8,658,306 SH Sole 8,590,406 67,900
Health Care REIT Inc Common COM 42217K106 191,782 4,751,786 SH Sole 4,685,157 66,629
Healthcare Realty Trust Inc COM 421946104 1,945 70,000 SH Sole 70,000 -
Hewlett-Packard Co Common COM 428236103 31 700 SH Sole 700 -
Highland Distressed Opprtnties COM 430067108 2,280 160,000 SH Sole 160,000 -
Highwoods Properties Inc Common COM 431284108 130,476 3,479,356 SH Sole 3,445,456 33,900
Hilton Hotels Corp Common COM 432848109 215,492 6,438,361 SH Sole 5,610,061 828,300
HJ Heinz Co Common COM 423074103 4,576 96,400 SH Sole 96,400 -
Home Properties Inc Common COM 437306103 253,818 4,887,700 SH Sole 4,758,835 128,865
Hospitality Properties Trust COM 44106M102 153,793 3,706,764 SH Sole 3,664,864 41,900
Host Hotels & Resorts Common COM 44107P104 363,893 15,739,310 SH Sole 14,363,811 1,375,499
HRPT Properties Trust Common COM 40426W101 74,931 7,204,900 SH Sole 7,120,100 84,800
HSBC Holdings PLC ADR COM 404280406 10,159 110,700 SH Sole 110,700 -
ING Clarion Global Real Estate COM 44982G104 16,164 834,913 SH Sole 834,913 -
ING Clarion Real Estate Income COM 449788108 4,056 252,700 SH Sole 252,700 -
ING Global Advntge & Premium COM 44982N109 7,767 346,600 SH Sole 346,600 -
ING Global Eqty Div & Premium COM 45684E107 3,553 170,551 SH Sole 170,551 -
ING Risk Managed Natural Res COM 449810100 6,651 346,200 SH Sole 346,200 -
Inland Real Estate Corp Common COM 457461200 109,870 6,470,600 SH Sole 6,251,500 219,100
Integrys Energy Group Inc Common COM 45822P105 10,131 199,700 SH Sole 199,700 -
Intel Corp Common COM 458140100 3,507 147,600 SH Sole 147,600 -
International Business Machine COM 459200101 3,600 34,200 SH Sole 34,200 -
iStar Financial Inc Common COM 45031U101 149,627 3,375,300 SH Sole 3,332,500 42,800
ITC Holdings Corp Common COM 465685105 21,063 518,400 SH Sole 518,400 -
JC Penney Co Inc Common COM 708160106 8,838 122,100 SH Sole 122,100 -
JM Smucker Company Common COM 832696405 242 3,800 SH Sole 3,800 -
John Han Bk & Thrift Opp Fd CEF COM 409735107 10,193 1,123,760 SH Sole 1,123,760 -
John Hancock T/A Dvd Income CEF COM 41013V100 14,316 733,400 SH Sole 733,400 -
Johnson & Johnson Common COM 478160104 14,419 234,000 SH Sole 234,000 -
Johnson Controls Common COM 478366107 7,004 60,500 SH Sole 60,500 -
JPMorgan Chase & Co Common COM 46625H100 10,557 217,900 SH Sole 217,900 -
Kayne Anderson Energy Tot Rt CEF COM 48660P104 7,797 269,332 SH Sole 269,332 -
Kayne Anderson Mlp Investmen CEF COM 486606106 6,828 205,600 SH Sole 205,600 -
Keycorp Common COM 493267108 3,701 107,800 SH Sole 107,800 -
Kilroy Realty Corp Common COM 49427F108 191,432 2,702,304 SH Sole 2,402,592 299,712
Kimberly-Clark Corp Common COM 494368103 4,388 65,600 SH Sole 65,600 -
Kimco Realty Corp Common COM 49446R109 32,958 865,731 SH Sole 784,531 81,200
Kinder Morgan Energy Partners COM 494550106 15,375 278,592 SH Sole 278,592 -
Kraft Foods Inc Common COM 50075N104 7,136 202,453 SH Sole 202,453 -
LaSalle Hotel Properties Common COM 517942108 13,595 313,100 SH Sole 193,000 120,100
Leggett & Platt Common COM 524660107 3,943 178,800 SH Sole 178,800 -
Liberty All Star Equity Fund CEF COM 530158104 3,881 432,186 SH Sole 432,186 -
Liberty Property Trust Common COM 531172104 558,449 12,712,251 SH Sole 12,181,566 530,685
LMP Cap & Inc CEF CEF COM 50208A102 10,972 536,259 SH Sole 536,259 -
Lockheed Martin Corp Common COM 539830109 12,256 130,200 SH Sole 130,200 -
Macerich Co/The Common COM 554382101 544,618 6,607,837 SH Sole 5,789,633 818,204
Mack-Cali Realty Corp Common COM 554489104 393,035 9,037,351 SH Sole 8,718,346 319,005
Macquarie Global Infr Tot Rt CEF COM 55608D101 1,896 59,000 SH Sole 59,000 -
Macquarie/Ft Gl Int/Ut Dv In CEF COM 55607W100 1,690 60,500 SH Sole 60,500 -
Madison/Claymore Covered Cal CEF COM 556582104 2,408 163,489 SH Sole 163,489 -
Magellan Midstream Holdings COM 55907R108 1,194 39,800 SH Sole 39,800 -
Magellan Midstream Partners COM 559080106 6,153 132,100 SH Sole 132,100 -
Maguire Properties Inc Common COM 559775101 232,972 6,786,234 SH Sole 6,285,634 500,600
Masco Corp Common COM 574599106 3283 115300 SH Sole 115300 0
Medtronic Common COM 585055106 14,293 275600 SH Sole 275600 0
Merck and Co Inc Common COM 589331107 7306 146700 SH Sole 146700 0
Microchip Technology Inc Common COM 595017104 6915 186700 SH Sole 186700 0
Microsoft Common COM 594918104 10485 355800 SH Sole 355800 0
Mid-America Apartment Comm COM 59522J103 139732 2662582 SH Sole 2549682 112900
Mirant Corp Common COM 60467R100 4606 108000 SH Sole 108000 0
Mission West Properties Common COM 605203108 37827 2713600 SH Sole 2647000 66600
Monsanto Co Common COM 61166W101 9044 133900 SH Sole 133900 0
Morgan Stanley Common COM 617446448 6895 82200 SH Sole 82200 0
Morgan Stanley Emerging Mkts CEF COM 61744G107 811 29800 SH Sole 29800 0
Nasdaq Premium Income & Growth COM 63110R105 6071 315354 SH Sole 315354 0
National City Corp Common COM 635405103 6031 181000 SH Sole 181000 0
National Fuel Gas Co Common COM 636180101 2261 52200 SH Sole 52200 0
National Retail Properties COM 637417106 20422 934200 SH Sole 934200 0
Nationwide Health Properties I COM 638620104 231694 8518170 SH Sole 8431226 86944
Neuberger Berman Dvd Adv Fd CEF COM 64127J102 3745 165700 SH Sole 165700 0
Neuberger Berman Income Opp CEF COM 64126L108 3261 207700 SH Sole 207700 0
Neuberger Berman Real Estate CEF COM 64190A103 8219 477847 SH Sole 477847 0
Neuberger Berman Realty Inc CEF COM 64126G109 5692 253086 SH Sole 253086 0
Newcastle Investment Corp Common COM 65105M108 135001 5384976 SH Sole 5348276 36700
Newell Rubbermaid Inc Common COM 651229106 2119 72000 SH Sole 72000 0
NFJ Dvd Interest & Pr Strat CEF COM 65337H109 12893 509000 SH Sole 509000 0
Nicholas Applegate Eq & Cvrt CEF COM 65370K100 3782 155000 SH Sole 155000 0
Nicholas-Applegate Conv. & Inc COM 65370G109 2596 168904 SH Sole 168904 0
Nicholas-Applegate Intl & Prem COM 65370C108 2835 100000 SH Sole 100000 0
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
--------------------------- ------- --------- ------- ----------------- ------- -------- --------------------------
TITLE
OF VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
--------------------------- ------- --------- ------- -------- --- ---- ------- -------- ------ ------- ------
Nike Inc Common COM 654106103 10824 185700 SH Sole 185700 0
Nokia OYJ ADR COM 654902204 6825 242800 SH Sole 242800 0
Nordstrom Inc Common COM 655664100 3584 70100 SH Sole 70100 0
Northeast Utilities Common COM 664397106 16,854 594,300 SH Sole 594,300 0
NRG Energy Common COM 629377508 14924 359000 SH Sole 359000 0
NSTAR Common COM 67019E107 27583 850013 SH Sole 850013 0
Nuveen Diversified Dividend an COM 6706EP105 6179 334200 SH Sole 334200 0
Nuveen Equity Prem & Growth CEF COM 6706EW100 1790 93700 SH Sole 93700 0
Nuveen Equity Premium Income CEF COM 6706ER101 4284 234460 SH Sole 234460 0
Nuveen Global Value Oppty CEF COM 6706EH103 2524 130100 SH Sole 130100 0
Nuveen Real Estate Income Fd CEF COM 67071B108 8478 352500 SH Sole 352500 0
Nuveen Tax-Adv Tot Ret Strat CEF COM 67090H102 2002 75500 SH Sole 75500 0
OGE Energy Corp Common COM 670837103 6359 173500 SH Sole 173500 0
Old Mutual Claymore Long-Short COM 68003N103 2834 149700 SH Sole 149700 0
Omega Healthcare Investors Inc COM 681936100 30587 1932200 SH Sole 1852500 79700
Oneok Inc Common COM 682680103 4950 98200 SH Sole 98200 0
Paccar Inc Common COM 693718108 3464 39800 SH Sole 39800 0
Parkway Properties Inc/Md Common COM 70159Q104 112936 2351373 SH Sole 2063173 288200
Paychex Inc Common COM 704326107 5285 135100 SH Sole 135100 0
Pepco Holdings Inc Common COM 713291102 66834 2370000 SH Sole 2370000 0
Petro-Canada Common COM 71644E102 7145 134400 SH Sole 134400 0
Pfizer Inc Common COM 717081103 13755 537950 SH Sole 537950 0
PG&E Corp Common COM 69331C108 104077 2297507 SH Sole 2297507 0
PIMCO Corporate Opportunity COM 72201B101 536 35455 SH Sole 35455 0
PIMCO Global StocksPLUS & Inc COM 722011103 1037 38800 SH Sole 38800 0
Pinnacle West Capital Corp COM 723484101 40651 1020100 SH Sole 1020100 0
Pitney Bowes Inc Common COM 724479100 4588 98000 SH Sole 98000 0
Plum Creek Timber co Common COM 729251108 93208 2237361 SH Sole 2227061 10300
PNC Financial Services Group COM 693475105 422 5900 SH Sole 5900 0
PNM Resources Common COM 69349H107 1943 69900 SH Sole 69900 0
Post Properties Inc Common COM 737464107 29166 559486 SH Sole 500675 58811
PPG Industries Inc Common COM 693506107 2382 31300 SH Sole 31300 0
PPL Corp Common COM 69351T106 66361 1418278 SH Sole 1418278 0
Procter & Gamble Co Common COM 742718109 14190 231900 SH Sole 231900 0
Progress Energy Inc Common COM 743263105 91392 2004650 SH Sole 2004650 0
Prologis Common COM 743410102 431880 7590162.03 SH Sole 6802531.03 787631
PS Business Parks Inc Common COM 69360J107 35824 565312 SH Sole 506829 58483
Public Service Enterprise Grou COM 744573106 129778 1478443 SH Sole 1478443 0
Public Storage Inc Common COM 74460D109 557235 7253775.36 SH Sole 6398790.36 854985
Public Storage Inc Series A COM 74460D729 21489 826200 SH Sole 802400 23800
Questar Corp Common COM 748356102 596 11278 SH Sole 11278 0
Ramco-Gershenson Properties COM 751452202 53798 1497300 SH Sole 1448100 49200
Rayonier Inc Common COM 754907103 23166 513216 SH Sole 510816 2400
Real Estate Income Fund CEF COM 50208C108 6803 315534 SH Sole 315534 0
Reaves Utility Inc CEF COM 756158101 2994 119000 SH Sole 119000 0
Regency Centers Corp Common COM 758849103 125256 1776685 SH Sole 1584628 192057
Rio Tinto Plc ADR ADR COM 767204100 31 100 SH Sole 100 0
RR Donnelley & Sons Co Common COM 257867101 2345 53900 SH Sole 53900 0
SCANA Corp Common COM 80589M102 6012 157000 SH Sole 157000 0
Schlumberger LTD Common COM 806857108 8885 104600 SH Sole 104600 0
Sempra Energy Common COM 816851109 12644 213468 SH Sole 213468 0
Senior Housing Prop Trust Common COM 81721M109 150383 7389835 SH Sole 7161443 228392
Sierra Pacific Resources Common COM 826428104 1108 63100 SH Sole 63100 0
Simon Property Group Inc Common COM 828806109 656466 7055744 SH Sole 5693211 1362533
SL Green Realty Corp Common COM 78440X101 331676 2677182.6 SH Sole 2349021.6 328161
Sonoco Products Common COM 835495102 2522 58900 SH Sole 58900 0
Source Capital Inc CEF COM 836144105 689 10000 SH Sole 10000 0
South Jersey Industries Common COM 838518108 672 19000 SH Sole 19000 0
Southern Union Co Common COM 844030106 987 30300 SH Sole 30300 0
Sovran Self Storage Inc Common COM 84610H108 134029 2782993 SH Sole 2709993 73000
Spectra Energy Corp Common COM 847560109 102902 3963860 SH Sole 3963860 0
Starwood Hotels & Resorts Worl COM 85590A401 204117 3043341 SH Sole 2654002 389339
Strategic Hotel Capital Inc COM 86272T106 246049 10940404 SH Sole 10173204 767200
Sun Communities Inc Common COM 866674104 41333 1388411 SH Sole 1234211 154200
Sunamerica Focused Alpha Gr CEF COM 867037103 7096 372500 SH Sole 372500 0
Sunstone Hotel Investors Inc COM 867892101 47026 1656424 SH Sole 1495659 160765
Supervalu Common COM 868536103 3761 81200 SH Sole 81200 0
Targa Resources Partners LP COM 87611X105 13166 393000 SH Sole 393000 0
Taubman Centers Inc Common COM 876664103 73701 1485599 SH Sole 1157781 327818
TCW Strategic Income Fund CEF COM 872340104 834 173400 SH Sole 173400 0
Teco Energy Common COM 872375100 13263 772000 SH Sole 772000 0
Teva Pharmaceutical ADR COM 881624209 10275 249100 SH Sole 249100 0
The Southern Co Common COM 842587107 127522 3718924 SH Sole 3718924 0
Thomas Properties Group Inc COM 884453101 24175 1512800 SH Sole 937800 575000
Time Warner Common COM 887317105 10539 500900 SH Sole 500900 0
Total SA Spon ADR COM 89151E109 36 450 SH Sole 450 0
TS&W/Claymore T/A Balanced CEF COM 87280R108 1177 78100 SH Sole 78100 0
TXU Corp Common COM 873168108 123232 1831080 SH Sole 1831080 0
U-Store-It Trust Common COM 91274F104 92211 5626054 SH Sole 5180821 445233
UDR INC Common COM 902653104 313070 11903803 SH Sole 11017054 886749
Union Pacific Corp Common COM 907818108 35 300 SH Sole 300 0
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
--------------------------- ------- --------- ------- ----------------- ------- -------- --------------------------
TITLE
OF VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (X1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
--------------------------- ------- --------- ------- -------- --- ---- ------- -------- ------ ------- ------
United Parcel Service Inc Common COM 911312106 14074 192800 SH Sole 192800 0
Universal Compression Partners COM 913430104 7538 206000 SH Sole 206000 0
Urstadt Biddle Properties Inc COM 917286205 33593 1974877 SH Sole 1889777 85100
US Bancorp Common COM 902973304 16650 505300 SH Sole 505300 0
Valero Energy Corp Common COM 91913Y100 2290 31000 SH Sole 31000 0
Vectren Corp Common COM 92240G101 19448 722167 SH Sole 722167 0
Ventas Inc Common COM 92276F100 382935 10563708 SH Sole 10356218 207490
Verizon Communications Inc COM 92343V104 47350 1150100 SH Sole 1150100 0
VF Corp Common COM 918204108 2509 27400 SH Sole 27400 0
Vornado Realty Trust Common COM 929042109 688568 6268822 SH Sole 5814919 453903
Wachovia Corp Common COM 929903102 11880 231800 SH Sole 231800 0
Washington Mututal Inc. Common COM 939322103 6524 153000 SH Sole 153000 0
Washington Real Estate Inv COM 939653101 43996 1293995 SH Sole 1268195 25800
Waste Management Inc Common COM 94106L109 2511 64300 SH Sole 64300 0
Weingarten Realty Investors COM 948741103 99462 2419993 SH Sole 2166568 253425
Wells Fargo & Co Common COM 949746101 19108 543300 SH Sole 543300 0
Western Asset High Income Fund COM 95766J102 4101 375174 SH Sole 375174 0
Western Asset Managed Inc Fund COM 95766K109 2275 340100 SH Sole 340100 0
Western Asset Opportunity Fund COM 95766L107 4371 664287 SH Sole 664287 0
Whole Foods Market Common COM 966837106 115 3000 SH Sole 3000 0
Williams Cos Inc Common COM 969457100 2286 72300 SH Sole 72300 0
Windstream Corp Common COM 97381W104 12280 832000 SH Sole 832000 0
Wisconsin Energy Group Common COM 976657106 2167 49000 SH Sole 49000 0
Worthington Industries Common COM 981811102 6833 315600 SH Sole 315600 0
Xcel Energy Inc Common COM 98389B100 64595 3155603 SH Sole 3155603 0
Yum! Brands Common COM 988498101 10693 326800 SH Sole 326800 0
Barclays Bank PLC 6.625% (BCS) ADR 06739F390 2371 92800 SH Sole 92800 0
HSBC Holdings PLC 6.20% (HBC A) ADR 404280604 503 21100 SH Sole 21100 0
Prudential PLC 6.52% (PUK A) PER G7293H189 644 25900 SH Sole 25900 0
Royal Bank of Scotland Pfd H SPON ADR 780097879 3232 127400 SH Sole 127400 0
Teekay LNG Partners LP Common PRTNR Y8564M105 6484 179700 SH Sole 179700 0
Teekay Offshore Partners LP PRTNR Y8565J101 7304 214200 SH Sole 214200 0
Williams Partners LP Common COM UNIT 96950F104 41757 864900 SH Sole 864900 0
Crescent Real Estate EQT Pfd A PFD CV 225756204 35211 1416375 SH Sole 1394675 21700
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358 Data Records
19,668,599 Value Total
01 Other Manager on whose behalf report is filed