Company
|
|
Shares
|
|
Value
|
|
|
|
|
|
|
|
Common Stocks continued
|
|
|
|
|
|
Other 2.6%
|
|
|
|
|
|
Iowa Telecommunication Services, Inc.
|
|
37,500
|
|
$
|
744,375
|
|
Total Other (Cost $631,150)
|
|
|
|
744,375
|
|
Total Common Stocks (Cost
$31,843,665)
|
|
|
|
27,984,290
|
|
|
|
|
|
|
|
Preferred Stocks 61.3%
|
|
|
|
|
|
Real Estate 58.0%
|
|
|
|
|
|
Apartments 10.7%
|
|
|
|
|
|
Apartment Investment & Management Co., Series U *
|
|
32,500
|
|
801,125
|
|
Apartment Investment & Management Co., Series V *
|
|
27,700
|
|
683,359
|
|
Apartment Investment & Management Co., Series Y *
|
|
65,000
|
|
1,608,100
|
|
|
|
|
|
3,092,584
|
|
Diversified 6.6%
|
|
|
|
|
|
Cousins Properties, Inc., Series B *
|
|
20,000
|
|
481,600
|
|
Digital Realty Trust, Inc., Series A *
|
|
20,000
|
|
511,200
|
|
LBA Realty LLC, Series B *
|
|
45,000
|
|
902,250
|
|
|
|
|
|
1,895,050
|
|
Health Care 3.9%
|
|
|
|
|
|
Health Care REIT, Inc., Series F *
|
|
26,900
|
|
664,968
|
|
OMEGA Healthcare Investors Inc., Series D *
|
|
19,000
|
|
470,440
|
|
|
|
|
|
1,135,408
|
|
Hospitality 17.9%
|
|
|
|
|
|
Ashford Hospitality Trust, Series D *
|
|
32,000
|
|
745,600
|
|
Eagle Hospitality Properties Trust, Inc., Series A *
|
|
14,000
|
|
252,000
|
|
Entertainment Properties Trust, Series B *
|
|
40,000
|
|
958,800
|
|
Equity Inns, Inc., Series B *
|
|
50,000
|
|
862,500
|
|
FelCor Lodging Trust, Inc., Series C *
|
|
64,000
|
|
1,520,000
|
|
Host Marriott Corp., Series E *
|
|
10,000
|
|
256,250
|
|
Strategic Hotels & Resorts, Inc., Series A *
|
|
10,000
|
|
241,000
|
|
Strategic Hotels & Resorts, Inc., Series B *
|
|
13,700
|
|
328,252
|
|
|
|
|
|
5,164,402
|
|
Manufactured Homes 0.5%
|
|
|
|
|
|
Hilltop Holdings, Inc., Series A
|
|
6,900
|
|
157,113
|
|
|
|
|
|
|
|
Mortgage 4.8%
|
|
|
|
|
|
Anthracite Capital, Inc., Series D *
|
|
6,000
|
|
120,540
|
|
Gramercy Capital Corp., Series A *
|
|
20,000
|
|
450,200
|
|
HomeBanc Corp., Series A *
|
|
10,000
|
|
5,850
|
|
MFA Mortgage Investments, Inc., Series A *
|
|
13,800
|
|
323,886
|
|
RAIT Investment Trust, Series B *
|
|
20,300
|
|
284,403
|
|
Thornburg Mortgage, Inc., Series C *
|
|
10,000
|
|
189,300
|
|
|
|
|
|
1,374,179
|
|
Office 2.8%
|
|
|
|
|
|
Alexandria Real Estate Equities, Inc., Series C *
|
|
31,600
|
|
793,160
|
|
|
|
|
|
|
|
Retail 10.8%
|
|
|
|
|
|
CBL & Associates Properties, Inc., Series D *
|
|
10,000
|
|
239,400
|
|
Glimcher Realty Trust, Series F *
|
|
26,500
|
|
643,155
|
|
Glimcher Realty Trust, Series G *
|
|
41,000
|
|
964,320
|
|
Ramco-Gershenson Properties Trust, Series B *
|
|
36,000
|
|
900,180
|
|
Taubman Centers, Inc., Series G *
|
|
15,000
|
|
375,000
|
|
|
|
|
|
3,122,055
|
|
Total Real Estate (Cost
$18,759,652)
|
|
|
|
16,733,951
|
|
|
|
|
|
|
|
Financial Services 3.3%
|
|
|
|
|
|
Corts-UNUM Provident Financial Trust
|
|
38,000
|
|
960,450
|
|
Total Financial Services (Cost
$982,300)
|
|
|
|
960,450
|
|
Total Preferred Stocks (Cost
$19,741,952)
|
|
|
|
17,694,401
|
|
|
|
|
|
|
|
|