NPORT-EX 2 NPORT_331986881749622.htm

HTML

COHEN & STEERS REIT AND PREFERRED AND INCOME FUND, INC.

SCHEDULE OF INVESTMENTS

September 30, 2020 (Unaudited)

						Shares				Value
COMMON STOCK			68.4	%
COMMUNICATIONS—TOWERS			14.6	%
American Tower Corp.(a)							247,921			$	59,929,943
Crown Castle International Corp.(a),(b)							342,325				56,997,113
SBA Communications Corp.							112,731				35,902,569
											152,829,625
REAL ESTATE			53.8	%
DATA CENTERS			6.9	%
CyrusOne, Inc.(a),(b),(c)							232,743				16,298,992
Digital Realty Trust, Inc.(a),(b)							34,006				4,990,721
Equinix, Inc.							66,978				50,911,987
											72,201,700
HEALTH CARE			9.5	%
Healthpeak Properties, Inc.(a),(c)							612,946				16,641,484
Medical Properties Trust, Inc.(a)							848,937				14,966,759
Ventas, Inc.(a),(b)							755,299				31,692,346
Welltower, Inc.(a),(b)							646,812				35,632,873
											98,933,462
HOTEL			0.6	%
Host Hotels & Resorts, Inc.(a),(b)							619,768				6,687,297
INDUSTRIALS			6.8	%
BG LLH LLC (Lineage Logistics)‡							60,088				3,460,439
Duke Realty Corp.							495,598				18,287,566
Prologis, Inc.(a)							492,826				49,588,152
											71,336,157
NET LEASE			8.1	%
Agree Realty Corp.(a),(b)							110,356				7,023,056
Broadstone Net Lease, Inc., Class A							423,758				7,110,659
Spirit Realty Capital, Inc.(a),(b)							403,313				13,611,814
VEREIT, Inc.(a)							2,923,331				19,001,651
VICI Properties, Inc.(a),(b)							1,191,384				27,842,644
WP Carey, Inc.							146,591				9,551,870
											84,141,694
OFFICE			1.1	%
Kilroy Realty Corp.(a),(b)							216,317				11,239,831

1

						Shares				Value
RESIDENTIAL			8.2	%
APARTMENT			5.0	%
Apartment Investment & Management Co., Class A(a),(b)							285,532			$	9,628,139
Essex Property Trust, Inc.(a),(b)							110,946				22,276,848
UDR, Inc.(a),(b)							633,310				20,652,239
											52,557,226
MANUFACTURED HOME			1.7	%
Sun Communities, Inc.(a),(b)							123,087				17,307,263
SINGLE FAMILY			1.5	%
Invitation Homes, Inc.(a),(b)							549,307				15,375,103
TOTAL RESIDENTIAL											85,239,592
SELF STORAGE			6.2	%
Extra Space Storage, Inc.(a),(b)							236,765				25,331,487
Public Storage(a),(b)							177,716				39,580,908
											64,912,395
SHOPPING CENTERS—REGIONAL MALL			3.3	%
Simon Property Group, Inc.(a),(b)							526,978				34,084,937
SPECIALTY			1.0	%
Lamar Advertising Co., Class A							163,743				10,834,874
TIMBER			2.1	%
Weyerhaeuser Co.							761,450				21,716,554
TOTAL REAL ESTATE											561,328,493
TOTAL COMMON STOCK (Identified cost—$557,631,574)											714,158,118
PREFERRED SECURITIES—$25 PAR VALUE			18.0	%
BANKS			4.9	%
Bank of America Corp., 6.00%, Series GG(a),(e)							79,775				2,178,655
Bank of America Corp., 5.875%, Series HH(a),(e)							102,500				2,800,300
Bank of America Corp., 5.375%, Series KK(e)							65,250				1,753,268
Capital One Financial Corp., 4.80%, Series J(e)							22,481				548,986
Citigroup, Inc., 6.875% to 11/15/23, Series K(a),(e),(f)							173,345				4,789,522
Citigroup, Inc., 6.30%, Series S(e)							88,403				2,264,885
Citizens Financial Group, Inc., 6.35% to 4/6/24, Series D(e),(f)							32,463				897,602
Dime Community Bancshares, Inc., 5.50%, Series A(e)							89,986				2,027,385
First Citizens BancShares, Inc./NC, 5.375%, Series A(e)							81,147				2,166,625
First Republic Bank, 4.125%, Series K(e)							33,507				851,078
First Republic Bank/CA, 5.50%, Series I(e)							42,910				1,145,697

2

						Shares				Value
GMAC Capital Trust I, 6.065% (3 Month US LIBOR + 5.785%), due 2/15/40, Series 2 (TruPS) (FRN)(a),(g)							126,195			$	3,151,089
Huntington Bancshares, Inc., 6.25%, Series D(a),(e)							110,273				2,787,701
New York Community Bancorp, Inc., 6.375% to 3/17/27, Series A(e),(f)							73,081				2,006,073
Regions Financial Corp., 5.70% to 5/15/29, Series C(a),(e),(f)							149,000				4,036,410
Synovus Financial Corp., 5.875% to 7/1/24, Series E(e),(f)							47,000				1,209,310
TCF Financial Corp., 5.70%, Series C(e)							73,000				1,868,070
Truist Financial Corp., 5.25%, Series O(e)							63,040				1,733,600
Truist Financial Corp., 4.75%, Series R(e)							158,000				4,100,100
Wells Fargo & Co., 5.85% to 9/15/23, Series Q(a),(e),(f)							122,748				3,198,813
Wells Fargo & Co., 4.75%, Series Z(a),(e)							214,893				5,402,410
											50,917,579
ELECTRIC			2.1	%
CMS Energy Corp., 5.875%, due 3/1/79(a)							136,150				3,663,796
Duke Energy Corp., 5.75%, Series A(e)							73,625				2,023,951
Integrys Holding, Inc., 6.00% to 8/1/23, due 8/1/73(a),(f)							122,977				3,381,868
Southern Co./The, 4.95%, due 1/30/80, Series 2020(a)							326,800				8,614,448
Southern Co./The, 4.20%, due 10/15/60, Series C							169,600				4,248,480
											21,932,543
ELECTRIC—FOREIGN			0.3	%
Brookfield Infrastructure Partners LP, 5.125%, Series 13 (Canada)(e)							100,049				2,576,262
Brookfield Renewable Partners LP, 5.25%, Series 17 (Canada)(e)							27,238				716,632
TOTAL ELECTRIC—FOREIGN											3,292,894
FINANCIAL			1.9	%
DIVERSIFIED FINANCIAL SERVICES			0.3	%
Apollo Global Management, Inc., 6.375%, Series B(e)							59,970				1,599,400
Synchrony Financial, 5.625%, Series A(e)							90,000				2,215,800
											3,815,200
INVESTMENT ADVISORY SERVICES			0.2	%
Affiliated Managers Group, Inc., 4.75%, due 9/30/60							67,600				1,732,588
INVESTMENT BANKER/BROKER			1.4	%
Charles Schwab Corp./The, 5.95%, Series D(e)							97,757				2,514,310
Morgan Stanley, 6.875% to 1/15/24, Series F(a),(e),(f)							176,237				4,784,835
Morgan Stanley, 6.375% to 10/15/24, Series I(a),(e),(f)							164,338				4,486,427

3

						Shares				Value
Morgan Stanley, 5.85% to 4/15/27, Series K(e),(f)							101,056			$	2,764,892
											14,550,464
TOTAL FINANCIAL											20,098,252
INDUSTRIALS—CHEMICALS			0.8	%
CHS, Inc., 7.10% to 3/31/24, Series 2(a),(e),(f)							150,229				4,003,603
CHS, Inc., 6.75% to 9/30/24, Series 3(e),(f)							90,453				2,374,391
CHS, Inc., 7.50%, Series 4(a),(e)							74,495				2,076,921
TOTAL INDUSTRIALS—CHEMICALS											8,454,915
INSURANCE			3.9	%
LIFE/HEALTH INSURANCE			1.6	%
Athene Holding Ltd., 6.35% to 6/30/29, Series A(e),(f)							78,974				2,120,452
Athene Holding Ltd., 6.375% to 6/30/25, Series C(e),(f)							75,707				2,051,660
Equitable Holdings, Inc., 5.25%, Series A(e)							75,800				1,935,174
MetLife, Inc., 4.75%, Series F(a),(e)							97,200				2,529,144
Prudential Financial, Inc., 4.125%, due 9/1/60							100,210				2,550,344
Unum Group, 6.25%, due 6/15/58							126,920				3,299,920
Voya Financial, Inc., 5.35% to 9/15/29, Series B(e),(f)							85,037				2,389,540
											16,876,234
MULTI-LINE			0.9	%
Allstate Corp./The, 5.10%, Series H(a),(e)							142,225				3,808,785
American International Group, Inc., 5.85%, Series A(a),(e)							90,041				2,450,016
WR Berkley Corp., 5.10%, due 12/30/59							94,400				2,475,168
WR Berkley Corp., 5.75%, due 6/1/56(a)							35,246				897,363
											9,631,332
MULTI-LINE—FOREIGN			0.4	%
Aegon Funding Co. LLC, 5.10%, due 12/15/49 (Netherlands)(a)							104,000				2,648,880
PartnerRe Ltd., 6.50%, Series G (Bermuda)(e)							58,756				1,506,504
											4,155,384
PROPERTY CASUALTY—FOREIGN			0.3	%
Enstar Group Ltd., 7.00% to 9/1/28, Series D (Bermuda)(a),(e),(f)							132,981				3,493,411
REINSURANCE			0.5	%
Arch Capital Group Ltd., 5.25%, Series E(e)							67,337				1,704,299

4

						Shares				Value
Arch Capital Group Ltd., 5.45%, Series F(a),(e)							112,593			$	2,911,655
											4,615,954
REINSURANCE—FOREIGN			0.2	%
RenaissanceRe Holdings Ltd., 5.75%, Series F (Bermuda)(a),(e)							54,600				1,482,936
TOTAL INSURANCE											40,255,251
INTEGRATED TELECOMMUNICATIONS SERVICES			0.7	%
AT&T, Inc., 5.00%, Series A(e)							60,425				1,613,952
AT&T, Inc., 4.75%, Series C(e)							88,000				2,244,000
United States Cellular Corp., 6.25%, due 9/1/69							133,600				3,497,648
											7,355,600
PIPELINES			0.4	%
Energy Transfer Operating LP, 7.625% to 8/15/23, Series D(e),(f)							135,000				2,320,650
Energy Transfer Operating LP, 7.60% to 5/15/24, Series E(e),(f)							111,530				1,941,737
											4,262,387
PIPELINES—FOREIGN			0.3	%
Enbridge, Inc., 6.375% to 4/15/23, due 4/15/78, Series B (Canada)(a),(f)							112,871				2,844,349
REAL ESTATE			1.3	%
DIVERSIFIED			0.4	%
Lexington Realty Trust, 6.50%, Series C ($50 Par Value)(a),(e)							76,536				4,473,529
INDUSTRIALS			0.3	%
Monmouth Real Estate Investment Corp., 6.125%, Series C(e)							140,000				3,469,200
OFFICE			0.4	%
Brookfield Property Partners LP, 5.75%, Series A(e)							104,400				1,865,628
Brookfield Property Partners LP, 6.375%, Series A2(e)							92,000				1,824,360
											3,689,988
SELF STORAGE			0.2	%
National Storage Affiliates Trust, 6.00%, Series A(e)							86,179	†			2,282,882
TOTAL REAL ESTATE											13,915,599
UTILITIES			1.1	%
ELECTRIC UTILITIES			0.2	%
NextEra Energy Capital Holdings, Inc., 5.65%, due 3/1/79, Series N(a)							71,749				1,968,075
GAS UTILITIES			0.8	%
Sempra Energy, 5.75%, due 7/1/79							87,200				2,329,112

5

						Shares				Value
South Jersey Industries, Inc., 5.625%, due 9/16/79(a)							136,000			$	3,522,400
Spire, Inc., 5.90%, Series A(e)							80,475				2,195,358
											8,046,870
MULTI-UTILITIES			0.1	%
NiSource, Inc., 6.50% to 3/15/24, Series B(e),(f)							64,445				1,778,038
TOTAL UTILITIES											11,792,983
UTILITIES—FOREIGN			0.3	%
Algonquin Power & Utilities Corp., 6.20% to 7/1/24, due 7/1/79, Series 19-A (Canada)(a),(f)							110,080				3,065,728
TOTAL PREFERRED SECURITIES—$25 PAR VALUE (Identified cost—$179,638,220)											188,188,080
						Principal Amount
PREFERRED SECURITIES—CAPITAL SECURITIES			45.0	%
BANKS			10.9	%
Bank of America Corp., 6.10% to 3/17/25, Series AA(a),(e),(f)						$	1,600,000				1,742,888
Bank of America Corp., 5.875% to 3/15/28, Series FF(a),(b),(e),(f)							8,331,000				9,001,418
Bank of America Corp., 6.25% to 9/5/24, Series X(a),(e),(f)							5,200,000				5,581,752
Bank of America Corp., 6.50% to 10/23/24, Series Z(a),(e),(f)							4,513,000				5,018,003
Bank of New York Mellon Corp./The, 4.70% to 9/20/25, Series G(a),(e),(f)							1,918,000				2,039,793
Citigroup Capital III, 7.625%, due 12/1/36(a)							4,700,000				6,661,504
Citigroup, Inc., 5.90% to 2/15/23(a),(e),(f)							1,300,000				1,331,785
Citigroup, Inc., 5.95% to 1/30/23(a),(e),(f)							961,000				989,887
Citigroup, Inc., 5.95% to 5/15/25, Series P(a),(e),(f)							2,500,000				2,623,837
Citigroup, Inc., 6.25% to 8/15/26, Series T(a),(e),(f)							4,825,000				5,363,156
Citigroup, Inc., 5.00% to 9/12/24, Series U(a),(e),(f)							4,594,000				4,580,284
Citizens Financial Group, Inc., 5.65% to 10/6/25, Series F(a),(e),(f)							1,000,000				1,045,370
Citizens Financial Group, Inc., 6.375% to 4/6/24, Series C(a),(e),(f)							1,800,000				1,790,001
CoBank ACB, 6.25% to 10/1/22, Series F(a),(e),(f)							33,000	†			3,448,500
CoBank ACB, 6.125%, Series G(a),(b),(e)							46,500	†			4,748,580
CoBank ACB, 6.25% to 10/1/26, Series I(a),(b),(e),(f)							4,334,000				4,594,040
Comerica, Inc., 5.625% to 7/1/25(a),(e),(f)							1,430,000				1,505,075
Dresdner Funding Trust I, 8.151%, due 6/30/31, 144A(a),(h)							3,585,906				5,230,123
Farm Credit Bank of Texas, 6.75% to 9/15/23, 144A(a),(e),(f),(h)							63,000	†			6,678,000

6

						Principal Amount				Value
Farm Credit Bank of Texas, 5.70% to 9/15/25, Series 4, 144A(e),(f),(h)						$	2,875,000			$	3,025,938
Fifth Third Bancorp, 4.50% to 9/30/25, Series L(e),(f)							1,200,000				1,210,500
First Horizon Bank, 3.75% (3 Month US LIBOR + 0.85%), 144A (FRN)(e),(g),(h)							2,500	†			1,878,125
Goldman Sachs Group, Inc./The, 5.50% to 8/10/24, Series Q(e),(f)							1,990,000				2,101,272
Huntington Bancshares, Inc., 4.45% to 10/15/27, Series G(e),(f)							4,143,000				4,111,928
JPMorgan Chase & Co., 6.75% to 2/1/24, Series S(a),(e),(f)							3,276,000				3,553,369
Regions Financial Corp., 5.75% to 6/15/25, Series D(e),(f)							990,000				1,059,300
Truist Financial Corp., 5.125% to 12/15/27, Series M(a),(e),(f)							4,500,000				4,547,761
Truist Financial Corp., 4.95% to 9/1/25, Series P(e),(f)							3,598,000				3,795,890
Truist Financial Corp., 5.10% to 3/1/30, Series Q(a),(e),(f)							6,200,000				6,717,390
Wells Fargo & Co., 5.95%, due 12/1/36							3,700,000				4,849,188
Wells Fargo & Co., 5.875% to 6/15/25, Series U(e),(f)							2,930,000				3,158,082
											113,982,739
BANKS—FOREIGN			14.3	%
Banco Bilbao Vizcaya Argentaria SA, 6.50% to 3/5/25, Series 9 (Spain)(a),(e),(f),(i)							3,600,000				3,600,541
Banco BPM SpA, 6.125% to 1/21/25 (Italy)(e),(f),(i),(j)							1,400,000				1,425,992
Banco de Sabadell SA, 6.50% to 5/18/22 (Spain)(e),(f),(i),(j)							400,000				422,063
Bank of China Hong Kong Ltd., 5.90% to 9/14/23, 144A (Hong Kong)(a),(e),(f),(h)							5,800,000				6,220,912
Bank of Ireland Group PLC, 6.00% to 3/1/26 (Ireland)(e),(f),(i),(j)							1,000,000				1,154,028
Bank of Ireland Group PLC, 7.50% to 5/19/25 (Ireland)(e),(f),(i),(j)							1,800,000				2,246,978
Bank of Montreal, 4.30% to 10/26/25, due 11/26/80 (Canada)(f)							1,400,000				1,053,362
Bank of Nova Scotia/The, 4.90% to 6/4/25 (Canada)(a),(e),(f)							2,740,000				2,842,750
Barclays PLC, 6.125% to 12/15/25 (United Kingdom)(e),(f),(i)							1,400,000				1,422,592
Barclays PLC, 7.125% to 6/15/25 (United Kingdom)(e),(f),(i)							1,800,000				2,427,728
Barclays PLC, 7.875% to 3/15/22 (United Kingdom)(e),(f),(i),(j)							3,600,000				3,715,880
Barclays PLC, 8.00% to 6/15/24 (United Kingdom)(a),(b),(e),(f),(i)							2,400,000				2,557,231
BNP Paribas SA, 6.625% to 3/25/24, 144A (France)(a),(e),(f),(h),(i)							1,796,000				1,908,250
BNP Paribas SA, 7.00% to 8/16/28, 144A (France)(a),(e),(f),(h),(i)							1,400,000				1,616,391
BNP Paribas SA, 7.195% to 6/25/37, 144A (France)(a),(e),(f),(h)							3,400,000				3,691,712
BNP Paribas SA, 7.375% to 8/19/25, 144A (France)(a),(e),(f),(h),(i)							4,500,000				5,015,003
Commerzbank AG, 6.125% to 10/9/25 (Germany)(e),(f),(i),(j)							2,600,000				2,983,287
Credit Agricole SA, 6.875% to 9/23/24, 144A (France)(a),(e),(f),(h),(i)							2,000,000				2,155,150
Credit Agricole SA, 7.875% to 1/23/24, 144A (France)(a),(e),(f),(h),(i)							3,200,000				3,546,013
Credit Agricole SA, 8.125% to 12/23/25, 144A (France)(a),(e),(f),(h),(i)							5,500,000				6,483,356

7

				Principal Amount				Value
Credit Suisse Group AG, 7.125% to 7/29/22 (Switzerland)(e),(f),(i),(j)				$	3,400,000			$	3,541,916
Credit Suisse Group AG, 5.25% to 2/11/27, 144A (Switzerland)(e),(f),(h),(i)					3,600,000				3,616,200
Credit Suisse Group AG, 6.375% to 8/21/26, 144A (Switzerland)(a),(e),(f),(h),(i)					2,700,000				2,887,880
Credit Suisse Group AG, 7.25% to 9/12/25, 144A (Switzerland)(a),(e),(f),(h),(i)					2,000,000				2,168,890
Credit Suisse Group AG, 7.50% to 12/11/23, 144A (Switzerland)(a),(e),(f),(h),(i)					1,800,000				1,969,875
Credit Suisse Group AG, 7.50% to 7/17/23, 144A (Switzerland)(a),(e),(f),(h),(i)					7,000,000				7,404,670
DNB Bank ASA, 6.50% to 3/26/22 (Norway)(e),(f),(i),(j)					1,300,000				1,351,918
HSBC Capital Funding Dollar 1 LP, 10.176% to 6/30/30, 144A (United Kingdom)(a),(e),(f),(h)					3,692,000				6,205,569
HSBC Holdings PLC, 6.375% to 3/30/25 (United Kingdom)(a),(b),(e),(f),(i)					3,000,000				3,141,277
HSBC Holdings PLC, 6.50% to 3/23/28 (United Kingdom)(a),(e),(f),(i)					2,300,000				2,444,176
HSBC Holdings PLC, 6.875% to 6/1/21 (United Kingdom)(a),(e),(f),(i)					1,800,000				1,836,239
ING Groep N.V., 5.75% to 11/16/26 (Netherlands)(e),(f),(i)					1,400,000				1,455,419
ING Groep N.V., 6.875% to 4/16/22 (Netherlands)(e),(f),(i),(j)					1,600,000				1,671,000
Intesa Sanpaolo SpA, 7.70% to 9/17/25, 144A (Italy)(e),(f),(h),(i)					1,400,000				1,470,603
Intesa Sanpaolo SpA, 5.875% to 9/1/31, Series EMTN (Italy)(e),(f),(i),(j)					750,000				861,553
Lloyds Banking Group PLC, 7.50% to 6/27/24 (United Kingdom)(a),(e),(f),(i)					1,666,000				1,750,916
Nationwide Building Society, 5.75% to 6/20/27 (United Kingdom)(e),(f),(i),(j)					1,000,000				1,330,673
Nationwide Building Society, 10.25% (United Kingdom)(e),(j)					1,260,000				2,658,248
Natwest Group PLC, 8.00% to 8/10/25 (United Kingdom)(e),(f),(i)					3,300,000				3,670,326
Natwest Group PLC, 8.625% to 8/15/21 (United Kingdom)(a),(b),(e),(f),(i)					1,800,000				1,848,996
Natwest Group PLC, 6.00% to 12/29/25 (United Kingdom)(e),(f),(i)					800,000				816,000
Nordea Bank Abp, 6.625% to 3/26/26, 144A (Finland)(e),(f),(h),(i)					1,400,000				1,580,831
Raiffeisen Bank International AG, 6.00% to 6/15/26 (Austria)(e),(f),(i),(j)					1,800,000				2,082,046
RBS Capital Trust II, 6.425% to 1/3/34 (United Kingdom)(e),(f)					900,000				1,398,204

8

						Principal Amount				Value
Royal Bank of Canada, 4.50% to 10/24/25, due 11/24/80, Series 1 (Canada)(f)						$	2,800,000			$	2,146,025
Societe Generale SA, 6.75% to 4/6/28, 144A (France)(e),(f),(h),(i)							5,000,000				5,235,325
Societe Generale SA, 7.375% to 9/13/21, 144A (France)(a),(e),(f),(h),(i)							2,000,000				2,054,440
Societe Generale SA, 7.875% to 12/18/23, 144A (France)(e),(f),(h),(i)							1,400,000				1,482,341
Societe Generale SA, 8.00% to 9/29/25, 144A (France)(e),(f),(h),(i)							1,600,000				1,786,741
Standard Chartered PLC, 7.50% to 4/2/22, 144A (United Kingdom)(e),(f),(h),(i)							2,400,000				2,464,692
Standard Chartered PLC, 7.75% to 4/2/23, 144A (United Kingdom)(e),(f),(h),(i)							2,300,000				2,447,752
Stichting AK Rabobank Certificaten, 6.50% (Netherlands)(e),(j)							3,290,175				4,606,473
Svenska Handelsbanken AB, 4.375% to 3/1/27 (Sweden)(e),(f),(i),(j)							600,000				610,875
Svenska Handelsbanken AB, 4.75% to 3/1/31 (Sweden)(e),(f),(i),(j)							1,200,000				1,227,000
UBS Group Funding Switzerland AG, 6.875% to 8/7/25 (Switzerland)(e),(f),(i),(j)							2,000,000				2,203,750
UBS Group Funding Switzerland AG, 7.00% to 2/19/25 (Switzerland)(e),(f),(i),(j)							1,600,000				1,785,608
UBS Group Funding Switzerland AG, 7.00% to 1/31/24, 144A (Switzerland)(e),(f),(h),(i)							2,600,000				2,777,307
UniCredit SpA, 7.50% to 6/3/26 (Italy)(e),(f),(i),(j)							600,000				763,164
UniCredit SpA, 8.00% to 6/3/24 (Italy)(e),(f),(i),(j)							1,600,000				1,708,400
											148,952,537
ELECTRIC			1.8	%
CenterPoint Energy, Inc., 6.125% to 9/1/23, Series A(a),(e),(f)							2,800,000				2,847,491
CMS Energy Corp., 4.75% to 3/1/30, due 6/1/50(a),(f)							3,300,000				3,503,389
Duke Energy Corp., 4.875% to 9/16/24(a),(e),(f)							2,300,000				2,436,016
Sempra Energy, 4.875% to 10/15/25(e),(f)							5,430,000				5,592,900
Southern California Edison Co., 6.25% to 2/1/22, Series E(e),(f)							1,400,000				1,378,534
Southern Co./The, 4.00% to 10/15/25, due 1/15/51, Series B(f)							3,160,000				3,172,348
											18,930,678
FINANCIAL			0.9	%
Apollo Management Holdings LP, 4.95% to 12/17/24, due 1/14/50, 144A(a),(f),(h)							1,424,000				1,424,114
Charles Schwab Corp./The, 5.375% to 6/1/25, Series G(e),(f)							5,783,000				6,280,627
Discover Financial Services, 6.125% to 6/23/25, Series D(e),(f)							790,000				837,637

9

						Principal Amount				Value
General Motors Financial Co., Inc., 5.70% to 9/30/30, Series C(e),(f)						$	1,220,000			$	1,227,625
											9,770,003
FOOD			1.4	%
Dairy Farmers of America, Inc., 7.875%, 144A(d),(e),(h)							52,100	†			4,689,000
Dairy Farmers of America, Inc., 7.875%, Series B, 144A(d),(e),(h)							82,000	†			7,380,000
Land O’ Lakes, Inc., 7.00%, 144A(e),(h)							1,650,000				1,435,244
Land O’ Lakes, Inc., 7.25%, 144A(e),(h)							945,000				880,546
											14,384,790
INDUSTRIALS—DIVERSIFIED MANUFACTURING			0.2	%
General Electric Co., 5.00% to 1/21/21, Series D(a),(b),(e),(f)							2,123,000				1,694,959
INSURANCE			8.5	%
LIFE/HEALTH INSURANCE			4.0	%
Equitable Holdings, Inc., 4.95% to 9/15/25, Series B(e),(f)							3,480,000				3,558,300
MetLife Capital Trust IV, 7.875%, due 12/15/37, 144A (TruPS)(a),(h)							4,381,000				6,042,122
MetLife, Inc., 10.75%, due 8/1/39(a)							3,592,000				5,847,938
MetLife, Inc., 9.25%, due 4/8/38, 144A(a),(b),(h)							9,265,000				14,020,677
MetLife, Inc., 5.875% to 3/15/28, Series D(e),(f)							1,671,000				1,824,734
MetLife, Inc., 3.85% to 9/15/25, Series G(e),(f)							3,730,000				3,725,338
Prudential Financial, Inc., 5.20% to 3/15/24, due 3/15/44(f)							1,300,000				1,378,871
Prudential Financial, Inc., 5.625% to 6/15/23, due 6/15/43(a),(b),(f)							1,264,000				1,344,580
SBL Holdings, Inc., 7.00% to 5/13/25, 144A(e),(f),(h)							1,600,000				1,362,000
Voya Financial, Inc., 5.65% to 5/15/23, due 5/15/53(a),(f)							2,000,000				2,058,490
											41,163,050
LIFE/HEALTH INSURANCE—FOREIGN			0.8	%
Achmea BV, 4.625% to 3/24/29 (Netherlands)(e),(f),(i),(j)							3,200,000				3,741,784
Fukoku Mutual Life Insurance Co., 6.50% to 9/19/23 (Japan)(e),(f),(j)							1,264,000				1,414,100
Legal & General Group PLC, 5.625% to 3/24/31 (United Kingdom)(e),(f),(i),(j)							2,700,000				3,577,835
											8,733,719
MULTI-LINE			0.8	%
American International Group, Inc., 8.175% to 5/15/38, due 5/15/58(a),(f)							3,930,000				5,626,485
American International Group, Inc., 5.75% to 4/1/28, due 4/1/48, Series A-9(a),(f)							1,719,000				1,876,834

10

						Principal Amount				Value
Hartford Financial Services Group, Inc./The, 2.405% (3 Month US LIBOR + 2.125%), due 2/12/47, 144A, Series ICON (FRN)(g),(h)						$	1,000,000			$	861,953
											8,365,272
MULTI-LINE—FOREIGN			0.5	%
AXA SA, 6.379% to 12/14/36, 144A (France)(a),(e),(f),(h)							4,099,000				5,569,988
PROPERTY CASUALTY			0.8	%
Assurant, Inc., 7.00% to 3/27/28, due 3/27/48(a),(f)							2,900,000				3,129,324
Enstar Finance LLC, 5.75% to 9/1/25, due 9/1/40(f)							1,660,000				1,692,417
Markel Corp., 6.00% to 6/1/25(e),(f)							1,700,000				1,799,875
PartnerRe Finance B LLC, 4.50% to 4/1/30, due 10/1/50(f)							2,060,000				2,070,280
											8,691,896
PROPERTY CASUALTY—FOREIGN			1.3	%
Mitsui Sumitomo Insurance Co., Ltd., 4.95% to 3/6/29, 144A (Japan)(a),(e),(f),(h)							2,000,000				2,396,630
QBE Insurance Group Ltd., 6.75% to 12/2/24, due 12/2/44 (Australia)(f),(j)							2,403,000				2,684,139
QBE Insurance Group Ltd., 5.875% to 5/12/25, 144A (Australia)(e),(f),(h)							2,000,000				2,127,500
QBE Insurance Group Ltd., 5.875% to 6/17/26, due 6/17/46, Series EMTN (Australia)(f),(j)							2,600,000				2,853,640
VIVAT NV, 6.25% to 11/16/22 (Netherlands)(e),(f),(j)							3,200,000				3,240,960
											13,302,869
REINSURANCE			0.3	%
AXIS Specialty Finance LLC, 4.90% to 1/15/30, due 1/15/40(a),(f)							3,350,000				3,350,909
TOTAL INSURANCE											89,177,703
INTEGRATED TELECOMMUNICATIONS SERVICES—FOREIGN			0.7	%
Vodafone Group PLC, 7.00% to 1/4/29, due 4/4/79 (United Kingdom)(a),(f)							6,150,000				7,307,650
OIL & GAS—FOREIGN			0.8	%
BP Capital Markets PLC, 4.875% to 3/22/30 (United Kingdom)(e),(f)							7,350,000				7,882,875
PIPELINES			0.1	%
Energy Transfer Operating LP, 7.125% to 5/15/30, Series G(e),(f)							1,400,000				1,107,750

11

						Principal Amount				Value
PIPELINES—FOREIGN			3.2	%
Enbridge, Inc., 6.25% to 3/1/28, due 3/1/78 (Canada)(a),(f)						$	5,330,000			$	5,419,251
Enbridge, Inc., 6.00% to 1/15/27, due 1/15/77, Series 16-A (Canada)(a),(f)							4,012,000				4,043,488
Enbridge, Inc., 5.75% to 4/15/30, due 7/15/80, Series 20-A (Canada)(f)							4,620,000				4,793,054
Transcanada Trust, 5.50% to 9/15/29, due 9/15/79 (Canada)(a),(f)							9,014,000				9,436,019
Transcanada Trust, 5.625% to 5/20/25, due 5/20/75 (Canada)(f)							2,733,000				2,791,034
Transcanada Trust, 5.875% to 8/15/26, due 8/15/76, Series 16-A (Canada)(a),(f)							7,002,000				7,464,541
											33,947,387
REAL ESTATE—RETAIL—FOREIGN			0.8	%
Scentre Group Trust 2, 4.75% to 6/24/26, due 9/24/80, 144A (Australia)(f),(h)							2,700,000				2,682,069
Scentre Group Trust 2, 5.125% to 6/24/30, due 9/24/80, 144A (Australia)(f),(h)							5,300,000				5,213,297
											7,895,366
UTILITIES			1.4	%
ELECTRIC UTILITIES			0.3	%
NextEra Energy Capital Holdings, Inc., 5.65% to 5/1/29, due 5/1/79(a),(f)							3,150,000				3,581,227
ELECTRIC UTILITIES—FOREIGN			1.1	%
Emera, Inc., 6.75% to 6/15/26, due 6/15/76, Series 16-A (Canada)(a),(f)							9,100,000				10,116,880
Enel SpA, 8.75% to 9/24/23, due 9/24/73, 144A (Italy)(a),(f),(h)							1,110,000				1,299,177
											11,416,057
TOTAL UTILITIES											14,997,284
TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES (Identified cost—$436,340,619)											470,031,721

12

						Principal Amount				Value
CORPORATE BONDS			0.4	%
BANKS—FOREIGN			0.1	%
UniCredit SpA, 5.459% to 6/30/30, due 6/30/35, 144A (Italy)(f),(h)						$	1,000,000			$	1,020,789
INSURANCE			0.3	%
Brighthouse Financial, Inc., 4.70%, due 6/22/47(a),(b)							3,500,000				3,354,403
TOTAL CORPORATE BONDS (Identified cost—$3,823,997)											4,375,192
						Shares
SHORT-TERM INVESTMENTS			0.6	%
MONEY MARKET FUNDS
State Street Institutional Treasury Money Market Fund, Premier Class, 0.02%(k)							6,183,632				6,183,632
TOTAL SHORT-TERM INVESTMENTS (Identified cost—$6,183,632)											6,183,632
TOTAL INVESTMENTS IN SECURITIES (Identified cost—$1,183,618,042)			132.4	%							1,382,936,743
WRITTEN OPTION CONTRACTS			(0.1	)							(911,785	)
LIABILITIES IN EXCESS OF OTHER ASSETS			(32.3	)							(337,751,549	)
NET ASSETS (Equivalent to $21.95 per share based on 47,582,193 shares of common stock outstanding)			100.0	%						$	1,044,273,409

Exchange-Traded Option Contracts
Written Options
Description		Exercise Price				Expiration Date		Number of Contracts				Notional Amount(l)				Premiums Received				Value
Put — Healthcare Trust of America		$	25.00			10/16/20			(1,370	)		$	(3,562,000	)		$	(94,479	)		$	(58,225	)
Put — Lamar Advertising Co.			60.00			10/16/20			(182	)			(1,204,294	)			(37,315	)			(7,280	)

13

Put — Medical Properties Trust, Inc.			17.00				11/20/20				(1,454	)			(2,563,402	)			(116,266	)			(101,780	)
Put — Welltower, Inc.			50.00				11/20/20				(301	)			(1,658,209	)			(76,562	)			(62,608	)
Put — WP Carey, Inc.			65.00				10/16/20				(269	)			(1,752,804	)			(41,179	)			(51,917	)
											(3,576	)		$	(10,740,709	)		$	(365,801	)		$	(281,810	)

Over-the-Counter Option Contracts

Written Options
Description		Counterparty		Exercise Price				Expiration Date		Number of Contracts				Notional Amount(l)				Premiums Received				Value
Put — CyrusOne, Inc.		Goldman Sachs International		$	65.00			11/20/20			(475	)		$	(3,326,425	)		$	(86,925	)		$	(89,267	)
Put — Healthpeak Properties, Inc.		Goldman Sachs International			31.53			10/16/20			(1,233	)			(3,347,595	)			(659,655	)			(540,708	)
											(1,708	)		$	(6,674,020	)		$	(746,580	)		$	(629,975	)

Centrally Cleared Interest Rate Swap Contracts

Notional Amount		Fixed Rate Payable(m)		Fixed Payment Frequency		Floating Rate Receivable(m) (resets monthly)		Floating Payment Frequency		Maturity Date		Value				Upfront Receipts (Payments)				Unrealized Appreciation (Depreciation)
$87,500,000		1.240%		Monthly		1 month LIBOR		Monthly		2/3/26		$	(4,295,609	)		$	(38,325	)		$	(4,333,934	)

The total amount of all interest rate swap contracts as presented in the table above are representative of the volume of activity for this derivative type during the period ended September 30, 2020.

Forward Foreign Currency Exchange Contracts

Counterparty		Contracts to Deliver						In Exchange For						Settlement Date		Unrealized Appreciation (Depreciation)
Brown Brothers Harriman		CAD			1,842,892			USD			1,397,171			10/2/20		$	13,146
Brown Brothers Harriman		CAD			2,867,016			USD			2,199,121			10/2/20			45,972
Brown Brothers Harriman		EUR			754,348			USD			892,313			10/2/20			7,878
Brown Brothers Harriman		EUR			990,197			USD			1,179,260			10/2/20			18,304
Brown Brothers Harriman		EUR			16,972,131			USD			20,293,747			10/2/20			394,776
Brown Brothers Harriman		GBP			8,949,901			USD			11,974,744			10/2/20			426,246
Brown Brothers Harriman		USD			2,109,234			EUR			1,775,841			10/2/20			(27,150	)
Brown Brothers Harriman		USD			11,561,303			GBP			8,949,901			10/2/20			(12,805	)
Brown Brothers Harriman		USD			3,535,250			CAD			4,709,908			10/2/20			1,923
Brown Brothers Harriman		USD			19,858,555			EUR			16,940,835			10/2/20			3,723
Brown Brothers Harriman		CAD			4,288,866			USD			3,219,301			11/3/20			(1,980	)
Brown Brothers Harriman		EUR			17,380,650			USD			20,386,112			11/3/20			(5,285	)
Brown Brothers Harriman		GBP			8,714,046			USD			11,257,763			11/3/20			11,721
																$	876,469

14

Glossary of Portfolio Abbreviations

CAD		Canadian Dollar
EMTN		Euro Medium Term Note
EUR		Euro Currency
FRN		Floating Rate Note
GBP		Great British Pound
LIBOR		London Interbank Offered Rate
TruPS		Trust Preferred Securities
USD		United States Dollar

Note: Percentages indicated are based on the net assets of the Fund.

‡ Restricted security. Aggregate holdings equal 0.3% of the net assets of the Fund. This security was acquired on August 3, 2020, at a cost of $3,755,469 ($62.50 per share). Security value is determined based on significant unobservable inputs (Level 3).

† Represents shares.

(a) All or a portion of the security is pledged as collateral in connection with the Fund’s credit agreement. $745,355,529 in aggregate has been pledged as collateral.

(b) A portion of the security has been rehypothecated in connection with the Fund’s credit agreement. $314,758,084 in aggregate has been rehypothecated.

(c) All or a portion of the security is pledged in connection with exchange-traded written option contracts. $11,759,841 in aggregate has been pledged as collateral.

(d) Security value is determined based on significant unobservable inputs (Level 3).

(e) Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer.

(f) Security converts to floating rate after the indicated fixed-rate coupon period.

(g) Variable rate. Rate shown is in effect at September 30, 2020.

(h) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. Aggregate holdings amounted to $151,407,195 which represents 14.5% of the net assets of the Fund, of which 0.4% are illiquid.

(i) Contingent Capital security (CoCo). CoCos are debt or preferred securities with loss absorption characteristics built into the terms of the security for the benefit of the issuer. Aggregate holdings amounted to $125,448,902 which represents 12.0% of the net assets of the Fund, (9.0% of the managed assets of the Fund).

(j) Securities exempt from registration under Regulation S of the Securities Act of 1933. These securities are subject to resale restrictions. Aggregate holdings amounted to $55,863,311 which represents 5.3% of the net assets of the Fund, of which 0.3% are illiquid.

(k) Rate quoted represents the annualized seven-day yield.

(l) Amount represents number of contracts multiplied by notional contract size multiplied by the underlying price.

(m) Represents a forward-starting interest rate swap contract with interest receipts and payments commencing on December 28, 2020 (effective date).

15

COHEN & STEERS REIT AND PREFERRED AND INCOME FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Note 1. Portfolio Valuation

Portfolio Valuation: Investments in securities that are listed on the New York Stock Exchange (NYSE) are valued, except as indicated below, at the last sale price reflected at the close of the NYSE on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price. Centrally cleared interest rate swaps are valued at the price determined by the relevant exchange or clearinghouse. Exchange-traded options are valued at their last sale price as of the close of options trading on applicable exchanges on the valuation date. In the absence of a last sale price on such day, options are valued at the average of the quoted bid and ask prices as of the close of business. Over-the-counter (OTC) options are valued based upon prices provided by a third-party pricing service or counterparty. Forward foreign currency exchange contracts are valued daily at the prevailing forward exchange rate.

Securities not listed on the NYSE but listed on other domestic or foreign securities exchanges (including NASDAQ) are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price reflected at the close of the exchange representing the principal market for such securities on the business day as of which such value is being determined. If after the close of a foreign market, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain non-U.S. equity holdings may be fair valued pursuant to procedures established by the Board of Directors.

Readily marketable securities traded in the OTC market, including listed securities whose primary market is believed by Cohen & Steers Capital Management, Inc. (the investment manager) to be OTC, are valued on the basis of prices provided by a third-party pricing service or third-party broker-dealers when such prices are believed by the investment manager, pursuant to delegation by the Board of Directors, to reflect the fair value of such securities.

Fixed-income securities are valued on the basis of prices provided by a third-party pricing service or third-party broker-dealers when such prices are believed by the investment manager, pursuant to delegation by the Board of Directors, to reflect the fair value of such securities. The pricing services or broker-dealers use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services or broker-dealers may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the pricing services or broker-dealers also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, and other unique security features which are then used to calculate the fair values.

Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates fair value. Investments in open-end mutual funds are valued at net asset value (NAV).

COHEN & STEERS REIT AND PREFERRED AND INCOME FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

The policies and procedures approved by the Fund’s Board of Directors delegate authority to make fair value determinations to the investment manager, subject to the oversight of the Board of Directors. The investment manager has established a valuation committee (Valuation Committee) to administer, implement and oversee the fair valuation process according to the policies and procedures approved annually by the Board of Directors. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities for which market prices are unavailable, or securities for which the investment manager determines that the bid and/or ask price or a counterparty valuation does not reflect market value, will be valued at fair value, as determined in good faith by the Valuation Committee, pursuant to procedures approved by the Fund’s Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include, but are not limited to, recent transactions in comparable securities, information relating to the specific security and developments in the markets.

The Fund’s use of fair value pricing may cause the NAV of Fund shares to differ from the NAV that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.

Fair value is defined as the price that the Fund would expect to receive upon the sale of an investment or expect to pay to transfer a liability in an orderly transaction with an independent buyer in the principal market or, in the absence of a principal market, the most advantageous market for the investment or liability. The hierarchy of inputs that are used in determining the fair value of the Fund’s investments is summarized below.

• Level 1 — quoted prices in active markets for identical investments

• Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, credit risk, etc.)

• Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing investments may or may not be an indication of the risk associated with those investments. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy.

COHEN & STEERS REIT AND PREFERRED AND INCOME FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

The following is a summary of the inputs used as of September 30, 2020 in valuing the Fund’s investments carried at value:    

		Total				Quoted Prices in Active Markets for Identical Investments (Level 1)				Other Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Common Stock:
Real Estate—Industrials		$	71,336,157			$	67,875,718			$	—			$	3,460,439	(a)
Other Industries			642,821,961				642,821,961				—				—
Preferred Securities —$25 Par Value:
Electric			21,932,543				18,550,675				3,381,868				—
Other Industries			166,255,537				166,255,537				—				—
Preferred Securities —Capital Securities:
Food			14,384,790				—				2,315,790				12,069,000	(b)
Other Industries			455,646,931				—				455,646,931				—
Corporate Bonds			4,375,192				—				4,375,192				—
Short-Term Investments			6,183,632				—				6,183,632				—
Total Investments in Securities(c)		$	1,382,936,743			$	895,503,891			$	471,903,413			$	15,529,439
Forward Foreign Currency Exchange Contracts		$	923,689			$	—			$	923,689			$	—
Total Derivative Assets(c)		$	923,689			$	—			$	923,689			$	—
Forward Foreign Currency Exchange Contracts		$	(47,220	)		$	—			$	(47,220	)		$	—
Written Option Contracts			(911,785	)			(281,810	)			(629,975	)			—
Interest Rate Swap Contracts			(4,333,934	)			—				(4,333,934	)			—
Total Derivative Liabilities(c)		$	(5,292,939	)		$	(281,810	)		$	(5,011,129	)		$	—

(a) Restricted security, where observable inputs are limited, has been fair valued by the Valuation Committee, pursuant to the Fund’s fair value procedures and classified as Level 3 security.

(b) Level 3 investments are valued by a third-party pricing service. The inputs for these securities are not readily available or cannot be reasonably estimated. A change in the significant unobservable inputs could result in a significantly lower or higher value in such Level 3 investments.

(c) Portfolio holdings are disclosed individually on the Schedule of Investments.

The following is a reconciliation of investments for which significant unobservable inputs (Level 3) were used in determining fair value:     

		Common Stock— Real Estate— Industrials				Preferred Securities— Capital Securities— Food
Balance as of December 31, 2019		$	—			$	5,178,636
Purchases			3,755,469				—
Transfers in			—				7,380,000
Change in unrealized appreciation (depreciation)			(295,030	)			(489,636	)
Balance as of September 30, 2020		$	3,460,439			$	12,069,000

COHEN & STEERS REIT AND PREFERRED AND INCOME FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

The change in unrealized appreciation (depreciation) attributable to securities owned on September 30, 2020 which were valued using significant unobservable inputs (Level 3) amounted to $(784,666).

The following table summarizes the quantitative inputs and assumptions used for investments categorized in Level 3 of the fair value hierarchy.

Fair Value at September 30, 2020

Valuation Technique

Unobservable Inputs

Range/Weighted Average

Valuation from an Increase in Input (a)

Common Stock— Real Estate—Industrials

$

3,460,439

Market Comparable Companies

Enterprise Value/ EBITDA Ratio

19.3x – 30.1x / 22.8%

Increase

Liquidity Discount

41%

Decrease

The significant unobservable inputs utilized in the fair value measurement of the Fund’s Level 3 equity investment in Common Stock—Real Estate—Industrials are the enterprise value to (EBITDA) ratio and Liquidity Discount.

(a) Represents the directional change in the fair value of the Level 3 investments that could have resulted from an increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may result in a materially higher or lower fair value measurement.

Note 2. Derivative Investments

Forward Foreign Currency Exchange Contracts: The Fund enters into forward foreign currency exchange contracts to hedge the currency exposure associated with certain of its non-U.S. dollar denominated securities. A forward foreign currency exchange contract is a commitment between two parties to purchase or sell foreign currency at a set price on a future date. The market value of a forward foreign currency exchange contract fluctuates with changes in foreign currency exchange rates. These contracts are marked to market daily and the change in value is recorded by the Fund as unrealized appreciation and/or depreciation on forward foreign currency exchange contracts. Realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed are included in net realized gain or loss on forward foreign currency exchange contracts. For federal income tax purposes, the Fund has made an election to treat gains and losses from forward foreign currency exchange contracts as capital gains and losses.

Forward foreign currency exchange contracts involve elements of market risk in excess of the amounts reflected on the Schedule of Investments. The Fund bears the risk of an unfavorable change in the foreign exchange rate underlying the contract. Risks may also arise upon entering these contracts from the potential inability of the counterparties to meet the terms of their contracts. In connection with these contracts, securities may be identified as collateral in accordance with the terms of the respective contracts.

COHEN & STEERS REIT AND PREFERRED AND INCOME FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

Options: The Fund may purchase and write exchange-listed and OTC put or call options on securities, stock indices, currencies and other financial instruments for hedging purposes, to enhance portfolio returns and reduce overall volatility.

When the Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded as a liability. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by the Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying investment. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.

Put and call options purchased are accounted for in the same manner as portfolio securities. Premiums paid for purchasing options which expire are treated as realized losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss when the underlying transaction is executed. The risk associated with purchasing an option is that the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the risk of loss of the premium and change in market value should the counterparty not perform under the contract.

Centrally Cleared Interest Rate Swap Contracts: The Fund uses interest rate swaps in connection with borrowing under its credit agreement. The interest rate swaps are intended to reduce interest rate risk by countering the effect that an increase in short-term interest rates could have on the performance of the Fund’s shares as a result of the floating rate structure of interest owed pursuant to the credit agreement. When entering into interest rate swaps, the Fund agrees to pay the other party to the interest rate swap (which is known as the counterparty) a fixed rate payment in exchange for the counterparty’s agreement to pay the Fund a variable rate payment that was intended to approximate the Fund’s variable rate payment obligation on the credit agreement, the accruals for which would begin at a specific date in the future (“the effective date”). The payment obligation is based on the notional amount of the swap. Depending on the state of interest rates in general, the use of interest rate swaps could enhance or harm the overall performance of the Fund. Swaps are marked-to-market daily and changes in the value are recorded as unrealized appreciation (depreciation).

Immediately following execution of the swap agreement, the swap agreement is novated to a central counterparty (the CCP) and the Fund’s counterparty on the swap agreement becomes the CCP. The Fund is required to interface with the CCP through a broker. Upon entering into a centrally cleared swap, the Fund is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular

COHEN & STEERS REIT AND PREFERRED AND INCOME FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

swap. Securities deposited as initial margin are designated on the Schedule of Investments and cash deposited is recorded as cash collateral pledged for interest rate swap contracts. The daily change in valuation of centrally cleared swaps is recorded as a receivable or payable for variation margin on interest rate swap contracts. Any upfront payments paid or received upon entering into a swap agreement would be recorded as assets or liabilities, respectively, and amortized or accreted over the life of the swap and recorded as realized gain (loss). Payments received from or paid to the counterparty during the term of the swap agreement, or at termination, are recorded as realized gain (loss).

Swap agreements involve, to varying degrees, elements of market and counterparty risk, and exposure to loss in excess of the related amounts reflected on the Schedule of Investments. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of contractual terms in the agreements and that there may be unfavorable changes in interest rates.

The following summarizes the volume of the Fund’s forward foreign currency exchange contracts and option contracts activity for the nine months ended September 30, 2020:

		Purchased Option Contracts(a),(b)				Written Option Contracts(a),(b)				Forward Foreign Currency Exchange Contracts
Average Notional Amount		$	6,670,039			$	17,985,168			$	35,266,495

(a) Average notional amounts represent the average for all months in which the Fund had option contracts outstanding at month end. For the period, this represents three months and nine months for purchased and written option contracts, respectively.

(b) Notional amount is calculated using the number of contracts multiplied by notional contract size multiplied by the underlying price.