CNS

SEC Filing Summary: Form 13F-HR

Business Context and Reporting Period

Reporting Manager: Cohen & Steers Capital Management Inc.
Reporting Period: Quarter ended June 29, 2007.
Filing Date: August 10, 2007.
Report Type: 13F Combination Report (includes holdings reported by other managers).
Other Managers Included: Cohen & Steers Europe SA; Frank Russell Company.

Key Financial Metrics

Total Portfolio Value: $19,668,599,000 (approx. $19.67 billion).
Total Number of Holdings: 358 entries.
Primary Investment Focus: The portfolio is heavily concentrated in Real Estate Investment Trusts (REITs), Utilities, and Closed-End Funds (CEFs). Significant positions include UDR Inc ($11.9B), Ventas Inc ($10.6B), and Host Hotels & Resorts ($15.7B).

Material Changes and Portfolio Composition

Top Holdings by Value:

• UDR Inc: $11,903,803,000
• Ventas Inc: $10,563,708,000
• Host Hotels & Resorts: $15,739,310,000
• Liberty Property Trust: $12,712,251,000
• Equity Residential: $13,533,508,000

Comparison to Prior Period: This filing is a snapshot of holdings as of June 29, 2007. The provided text does not contain data for the prior quarter (March 31, 2007); therefore, material changes in position size or new entries cannot be calculated from this document alone.

Guidance, Risks, and Unusual Items

Management Commentary: Form 13F filings are regulatory disclosures of holdings and do not contain management guidance, earnings outlook, or strategic commentary.
Risks and Contingencies: No specific risk factors or contingencies are disclosed in this form. The concentration in real estate and utility sectors implies exposure to interest rate fluctuations and sector-specific economic cycles.
Unusual Items: The report includes a significant number of Closed-End Funds (e.g., BlackRock, Eaton Vance, Nuveen) and Master Limited Partnerships (MLPs), consistent with an income-focused investment strategy.

Investor Verification Checklist

• Verify the total portfolio value of $19.67 billion against the firm's total Assets Under Management (AUM) to determine the scope of this specific report.
• Confirm the specific allocation percentages of REITs versus Utilities to assess sector concentration risk.
• Review the "Other Managers" section to understand the split of authority between Cohen & Steers Capital Management and Cohen & Steers Europe SA.
• Compare the top 10 holdings against the previous quarter's 13F filing to identify significant buying or selling activity.
• Check for any "Shared" voting authority entries to understand co-investment structures.