Monthly Portfolio Holdings


Portfolio holdings sorted alphabetically
as of April 30, 2008

Security Description

Symbol

Alexander & Baldwin, Inc.
ALEX
Alexandria Real Estate Equities, Inc.
ARE
AMB Property Corporation
AMB
Ambac Financial Group, Inc.
ABK
American Campus Communities
ACC
AvalonBay Communities
AVB
Boston Properties, Inc.
BXP
Brixton Plc
BXTN LN
Burlington Northern Santa Fe Co.
BNI
Cogdell Spencer, Inc.
CSA
Corporate Office Properties Trust
OFC
Cousins Properties, Inc.
CUZ
DCT Industrial Trust, Inc.
DCT
Derwent London Plc
DLN LN
Digital Realty Trust, Inc.
DLR
Equity Residential Pfd - Series E
EQR E
Essex Property Trust, Inc.
ESS
Federal Realty Investment Trust FRT
First Potomac Realty Trust
FPO
Forest City Enterprises - A
FCE A
General Growth Properties, Inc.
GGP
Gramercy Capital Corp.
GKK
Kimco Realty Corp.
KIM
Minerva Plc
MNR LN
Mitsubishi Estate Co., Ltd.
8802 JP
Mitsui Fudosan Co., Ltd.
8801 JP
ProLogis - Conv. Bond
743410AP7
Regency Centers Corporation
REG
SL Green Realty Corp. - Conv. Bond
78444FAA4
Taubman Centers, Inc.
TCO
U-Store-It Trust
YSI
Ventas, Inc.
VTR


Portfolio holdings are subject to change. The holdings above may not represent the entire portfolio. For a complete listing of portfolio holdings review the most recent Annual Report, Semi-Annual report, or Form N-Q.