- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
November 23 2009 - 12:43PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
|
Investment
Company Act file number
|
811-21437
|
|
|
|
|
Cohen
& Steers REIT and Utility Income Fund, Inc.
|
|
(Exact name of registrant as specified in charter)
|
|
|
|
280 Park Avenue
New York, NY
|
|
10017
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|
(Address of principal executive offices)
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(Zip code)
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|
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|
Francis C. Poli
280 Park Avenue
New York, NY 10017
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|
(Name and address of agent for service)
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Registrant’s
telephone number, including area code:
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(212)
832-3232
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Date of
fiscal year end:
|
December 31
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|
|
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|
|
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Date of
reporting period:
|
September
30, 2009
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Item 1.
Schedule of Investments
COHEN & STEERS REIT AND UTILITY
INCOME FUND, INC.
SCHEDULE OF INVESTMENTS
September 30, 2009 (Unaudited)
|
|
|
Number
of Shares
|
|
Value
|
|
|
COMMON STOCK 116.8%
|
|
|
|
|
|
|
CONSUMER DISCRETIONARY—CABLE & SATELITE 0.4%
|
|
|
|
|
|
|
Eutelsat Communications (France)
(a)
|
|
65,000
|
|
$
|
1,975,594
|
|
|
SES SA (Luxembourg)
|
|
26,000
|
|
589,730
|
|
|
|
|
|
|
2,565,324
|
|
|
ENERGY—OIL & GAS STORAGE &
TRANSPORTATION 7.2%
|
|
|
|
|
|
|
DCP Midstream Partners LP
(b)
|
|
46,738
|
|
1,161,439
|
|
|
Enbridge Energy Partners LP
(b)
|
|
75,981
|
|
3,423,704
|
|
|
Energy Transfer Equity LP
(b)
|
|
32,000
|
|
896,000
|
|
|
Energy Transfer Partners LP
(b)
|
|
64,610
|
|
2,749,156
|
|
|
Enterprise GP Holdings LP
(b)
|
|
30,000
|
|
887,400
|
|
|
Enterprise Products Partners LP
(b)
|
|
204,200
|
|
5,782,944
|
|
|
Kinder Morgan Energy Partners LP
(b),(c)
|
|
86,192
|
|
4,656,092
|
|
|
Magellan Midstream Partners LP
(b),(c)
|
|
106,900
|
|
4,019,440
|
|
|
MarkWest Energy Partners LP
(b)
|
|
122,400
|
|
2,892,312
|
|
|
Spectra Energy Corp.
(b),(c)
|
|
471,326
|
|
8,926,914
|
|
|
TransCanada Corp. (Canada)
|
|
91,000
|
|
2,836,286
|
|
|
Williams Cos. (The)
(b)
|
|
326,000
|
|
5,825,620
|
|
|
Williams Partners LP
(b)
|
|
196,600
|
|
4,578,814
|
|
|
|
|
|
|
48,636,121
|
|
|
INDUSTRIALS 0.7%
|
|
|
|
|
|
|
CONSTRUCTION & ENGINEERING 0.1%
|
|
|
|
|
|
|
Great Lakes Dredge & Dock Corp.
|
|
112,236
|
|
783,407
|
|
|
|
|
|
|
|
|
|
HIGHWAYS & RAILTRACKS 0.6%
|
|
|
|
|
|
|
Anhui Expressway Co. (Hong Kong)
|
|
2,050,000
|
|
1,214,121
|
|
|
Cia de Concessoes Rodoviarias (Brazil)
|
|
165,016
|
|
2,823,231
|
|
|
|
|
|
|
4,037,352
|
|
|
TOTAL INDUSTRIALS
|
|
|
|
4,820,759
|
|
|
|
|
|
|
|
|
|
1
|
|
|
Number
of Shares
|
|
Value
|
|
|
REAL ESTATE 64.5%
|
|
|
|
|
|
|
DIVERSIFIED 5.3%
|
|
|
|
|
|
|
Cousins Properties
|
|
348,878
|
|
$
|
2,888,710
|
|
|
Dexus Property Group (Australia)
|
|
4,207,100
|
|
3,136,220
|
|
|
Lexington Realty Trust
(b)
|
|
552,724
|
|
2,818,892
|
|
|
Vornado Realty Trust
(b)
|
|
423,755
|
|
27,294,060
|
|
|
|
|
|
|
36,137,882
|
|
|
HEALTH CARE 8.5%
|
|
|
|
|
|
|
Brookdale Senior Living
(b)
|
|
352,772
|
|
6,395,756
|
|
|
Chartwell Seniors Housing (Canada)
|
|
277,321
|
|
1,722,491
|
|
|
Cogdell Spencer
(d)
|
|
753,600
|
|
3,617,280
|
|
|
HCP
(b),(c)
|
|
743,685
|
|
21,373,507
|
|
|
Health Care REIT
(b)
|
|
139,318
|
|
5,798,415
|
|
|
LTC Properties
(b)
|
|
9,220
|
|
221,649
|
|
|
Nationwide Health Properties
(b),(c)
|
|
153,806
|
|
4,766,448
|
|
|
Senior Housing Properties Trust
|
|
268,661
|
|
5,134,112
|
|
|
Ventas
(b)
|
|
213,187
|
|
8,207,699
|
|
|
|
|
|
|
57,237,357
|
|
|
HOTEL 4.1%
|
|
|
|
|
|
|
Hospitality Properties Trust
(a),(b)
|
|
365,459
|
|
7,444,400
|
|
|
Host Hotels & Resorts
(b)
|
|
1,691,759
|
|
19,912,003
|
|
|
|
|
|
|
27,356,403
|
|
|
INDUSTRIAL 4.1%
|
|
|
|
|
|
|
AMB Property Corp.
(b)
|
|
228,901
|
|
5,253,278
|
|
|
ProLogis
(b),(c)
|
|
1,902,476
|
|
22,677,514
|
|
|
|
|
|
|
27,930,792
|
|
|
MORTGAGE 0.5%
|
|
|
|
|
|
|
MFA Financial
(b)
|
|
440,652
|
|
3,507,590
|
|
|
|
|
|
|
|
|
|
2
|
|
|
Number
of Shares
|
|
Value
|
|
|
OFFICE 12.5%
|
|
|
|
|
|
|
BioMed Realty Trust
|
|
375,760
|
|
$
|
5,185,488
|
|
|
Boston Properties
(b),(d)
|
|
367,869
|
|
24,113,813
|
|
|
Brandywine Realty Trust
(b)
|
|
525,669
|
|
5,803,386
|
|
|
Brookfield Properties Corp.
(b)
|
|
482,763
|
|
5,435,911
|
|
|
ING Office Fund (Australia)
|
|
6,185,400
|
|
3,055,785
|
|
|
Kilroy Realty Corp.
|
|
228,616
|
|
6,341,808
|
|
|
Liberty Property Trust
(b)
|
|
327,234
|
|
10,644,922
|
|
|
Mack-Cali Realty Corp.
(b),(c)
|
|
550,064
|
|
17,783,569
|
|
|
SL Green Realty Corp.
(b)
|
|
146,856
|
|
6,439,635
|
|
|
|
|
|
|
84,804,317
|
|
|
OFFICE/INDUSTRIAL 0.7%
|
|
|
|
|
|
|
PS Business Parks
(b)
|
|
88,209
|
|
4,526,886
|
|
|
|
|
|
|
|
|
|
RESIDENTIAL 10.9%
|
|
|
|
|
|
|
APARTMENT 10.4%
|
|
|
|
|
|
|
American Campus Communities
(b)
|
|
153,421
|
|
4,119,354
|
|
|
Apartment Investment & Management Co.
(b)
|
|
679,719
|
|
10,025,855
|
|
|
AvalonBay Communities
(b)
|
|
177,419
|
|
12,903,684
|
|
|
Colonial Properties Trust
|
|
83,245
|
|
809,974
|
|
|
Education Realty Trust
(d)
|
|
449,090
|
|
2,663,104
|
|
|
Equity Residential
(b)
|
|
727,091
|
|
22,321,694
|
|
|
Home Properties
(b)
|
|
112,070
|
|
4,829,096
|
|
|
Post Properties
|
|
226,675
|
|
4,080,150
|
|
|
UDR
(b)
|
|
534,062
|
|
8,406,136
|
|
|
|
|
|
|
70,159,047
|
|
|
MANUFACTURED HOME 0.5%
|
|
|
|
|
|
|
Equity Lifestyle Properties
(b)
|
|
80,346
|
|
3,438,005
|
|
|
TOTAL RESIDENTIAL
|
|
|
|
73,597,052
|
|
|
|
|
|
|
|
|
|
SELF STORAGE 4.3%
|
|
|
|
|
|
|
Public Storage
(b)
|
|
251,489
|
|
18,922,032
|
|
|
Sovran Self Storage
|
|
177,072
|
|
5,388,301
|
|
|
|
|
|
|
|
|
|
3
|
|
|
Number
of Shares
|
|
Value
|
|
|
U-Store-It Trust
(d)
|
|
779,100
|
|
$
|
4,869,375
|
|
|
|
|
|
|
29,179,708
|
|
|
SHOPPING CENTER 13.6%
|
|
|
|
|
|
|
COMMUNITY CENTER 4.7%
|
|
|
|
|
|
|
Developers Diversified Realty Corp.
|
|
458,400
|
|
4,235,616
|
|
|
Federal Realty Investment Trust
(b)
|
|
60,880
|
|
3,736,206
|
|
|
Inland Real Estate Corp.
(b)
|
|
312,792
|
|
2,740,058
|
|
|
Kimco Realty Corp.
(b)
|
|
669,408
|
|
8,729,080
|
|
|
Regency Centers Corp.
(b)
|
|
102,328
|
|
3,791,253
|
|
|
Urstadt Biddle Properties—Class A
|
|
154,917
|
|
2,260,239
|
|
|
Weingarten Realty Investors
(b)
|
|
328,960
|
|
6,552,883
|
|
|
|
|
|
|
32,045,335
|
|
|
FREE STANDING 0.8%
|
|
|
|
|
|
|
National Retail Properties
(b)
|
|
250,200
|
|
5,371,794
|
|
|
|
|
|
|
|
|
|
REGIONAL MALL 8.1%
|
|
|
|
|
|
|
Glimcher Realty Trust
|
|
711,295
|
|
2,610,453
|
|
|
Macerich Co.
(b),(c)
|
|
261,816
|
|
7,940,879
|
|
|
Simon Property Group
(b)
|
|
639,317
|
|
44,387,779
|
|
|
|
|
|
|
54,939,111
|
|
|
TOTAL SHOPPING CENTER
|
|
|
|
92,356,240
|
|
|
|
|
|
|
|
|
|
TOTAL REAL ESTATE
|
|
|
|
436,634,227
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 1.9%
|
|
|
|
|
|
|
ALTERNATIVE CARRIERS 0.3%
|
|
|
|
|
|
|
Inmarsat PLC (United Kingdom)
|
|
241,000
|
|
2,124,127
|
|
|
|
|
|
|
|
|
|
INTEGRATED TELECOMMUNICATIONS SERVICES 0.6%
|
|
|
|
|
|
|
AT&T
(b)
|
|
146,000
|
|
3,943,460
|
|
|
|
|
|
|
|
|
|
WIRELESS TELECOMMUNICATIONS SERVICES 1.0%
|
|
|
|
|
|
|
American Tower Corp.
(a)
|
|
125,000
|
|
4,550,000
|
|
|
SBA Communications Corp.
(a)
|
|
83,000
|
|
2,243,490
|
|
|
|
|
|
|
6,793,490
|
|
|
TOTAL TELECOMMUNICATION
SERVICES
|
|
|
|
12,861,077
|
|
|
|
|
|
|
|
|
|
4
|
|
|
Number
of Shares
|
|
Value
|
|
|
UTILITIES 42.1 %
|
|
|
|
|
|
|
ELECTRIC UTILITIES 27.9%
|
|
|
|
|
|
|
Allegheny Energy
|
|
59,000
|
|
$
|
1,564,680
|
|
|
American Electric Power Co.
(b)
|
|
338,963
|
|
10,504,463
|
|
|
Cheung Kong Infrastructure Holdings Ltd. (Hong
Kong)
|
|
353,000
|
|
1,266,237
|
|
|
Cia de Transmissao de Energia Eletrica Paulista
(Brazil)
|
|
30,308
|
|
851,108
|
|
|
Cleco Corp.
(b)
|
|
77,000
|
|
1,931,160
|
|
|
DPL
(b),(c)
|
|
250,956
|
|
6,549,952
|
|
|
Duke Energy Corp.
(b),(c)
|
|
1,274,984
|
|
20,068,248
|
|
|
E.ON AG (ADR) (Germany)
(b)
|
|
85,696
|
|
3,646,365
|
|
|
E.ON AG (Germany)
|
|
57,000
|
|
2,417,248
|
|
|
Electricite de France (France)
|
|
137,600
|
|
8,163,005
|
|
|
Enel S.p.A. (Italy)
|
|
571,520
|
|
3,627,595
|
|
|
Entergy Corp.
(b)
|
|
227,420
|
|
18,161,761
|
|
|
Exelon Corp.
(b),(e)
|
|
346,578
|
|
17,197,200
|
|
|
FirstEnergy Corp.
(b),(c)
|
|
241,182
|
|
11,026,841
|
|
|
Fortum Oyj (Finland)
|
|
39,000
|
|
999,877
|
|
|
FPL Group
(b),(c)
|
|
306,158
|
|
16,909,106
|
|
|
ITC Holdings Corp.
(b)
|
|
78,064
|
|
3,548,009
|
|
|
Northeast Utilities
(b)
|
|
320,871
|
|
7,617,478
|
|
|
NV Energy
(b),(c)
|
|
831,184
|
|
9,633,423
|
|
|
Pepco Holdings
(b)
|
|
234,242
|
|
3,485,521
|
|
|
Pinnacle West Capital Corp.
(b)
|
|
30,762
|
|
1,009,609
|
|
|
PPL Corp.
(b),(c)
|
|
224,000
|
|
6,796,160
|
|
|
Progress Energy
(b)
|
|
170,929
|
|
6,676,487
|
|
|
Scottish and Southern Energy PLC (United Kingdom)
|
|
126,328
|
|
2,368,185
|
|
|
Southern Co.
(b)
|
|
682,396
|
|
21,611,481
|
|
|
Westar Energy
(b)
|
|
75,000
|
|
1,463,250
|
|
|
|
|
|
|
189,094,449
|
|
|
GAS UTILITIES 2.2%
|
|
|
|
|
|
|
EQT Corp.
(b),(c)
|
|
148,000
|
|
6,304,800
|
|
|
Questar Corp.
(b)
|
|
141,199
|
|
5,303,434
|
|
|
|
|
|
|
|
|
|
5
|
|
|
Number
of Shares
|
|
Value
|
|
|
Snam Rete Gas S.p.A. (Italy)
|
|
590,000
|
|
$
|
2,870,725
|
|
|
|
|
|
|
14,478,959
|
|
|
MULTI UTILITIES 11.6%
|
|
|
|
|
|
|
Alliant Energy Corp.
|
|
72,600
|
|
2,021,910
|
|
|
CenterPoint Energy
(b),(c)
|
|
396,944
|
|
4,934,014
|
|
|
CMS Energy Corp.
(b),(c)
|
|
402,494
|
|
5,393,420
|
|
|
Consolidated Edison
(b)
|
|
57,302
|
|
2,345,944
|
|
|
Dominion Resources
(b)
|
|
126,400
|
|
4,360,800
|
|
|
DTE Energy Co.
(b)
|
|
24,000
|
|
843,360
|
|
|
GDF Suez (France)
|
|
120,458
|
|
5,348,976
|
|
|
OGE Energy Corp.
(b)
|
|
84,000
|
|
2,778,720
|
|
|
PG&E Corp.
(b),(c)
|
|
412,555
|
|
16,704,352
|
|
|
Public Service Enterprise Group
(b),(c)
|
|
518,400
|
|
16,298,496
|
|
|
RWE AG (Germany)
|
|
15,000
|
|
1,393,181
|
|
|
Sempra Energy
(b)
|
|
184,500
|
|
9,189,945
|
|
|
United Utilities Group PLC (United Kingdom)
|
|
71,323
|
|
520,455
|
|
|
Wisconsin Energy Corp.
(b),(c)
|
|
146,469
|
|
6,616,005
|
|
|
|
|
|
|
78,749,578
|
|
|
WATER UTILITIES 0.4%
|
|
|
|
|
|
|
American Water Works Co.
(b)
|
|
129,000
|
|
2,572,260
|
|
|
Cia de Saneamento de Minas Gerais (ADR) (Brazil)
|
|
20,262
|
|
346,888
|
|
|
|
|
|
|
2,919,148
|
|
|
TOTAL UTILITIES
|
|
|
|
285,242,134
|
|
|
|
|
|
|
|
|
|
TOTAL COMMON STOCK (Identified cost—$722,219,625)
|
|
|
|
790,759,642
|
|
|
|
|
|
|
|
|
|
PREFERRED SECURITIES—$25 PAR VALUE 22.2%
|
|
|
|
|
|
|
BANK 0.4%
|
|
|
|
|
|
|
Bank of America Corp., 8.625%, Series MER
(b)
|
|
100,000
|
|
2,367,000
|
|
|
|
|
|
|
|
|
|
BANK—FOREIGN 3.6%
|
|
|
|
|
|
|
Barclays Bank PLC, 8.125%
(b)
|
|
207,000
|
|
5,050,800
|
|
|
Deutsche Bank Contingent Capital Trust III, 7.60%
(b)
|
|
172,000
|
|
4,004,160
|
|
|
Deutsche Bank Contingent Capital Trust V, 8.05%
(b)
|
|
114,525
|
|
2,821,896
|
|
|
|
|
|
|
|
|
|
6
|
|
|
Number
of Shares
|
|
Value
|
|
|
Santander Finance Preferred, 4.00%, Series 6
(FRN)
|
|
309,700
|
|
$
|
5,097,662
|
|
|
Santander Finance Preferred, 10.50%, Series 10
|
|
264,087
|
|
7,151,476
|
|
|
|
|
|
|
24,125,994
|
|
|
ELECTRIC—INTEGRATED 0.9%
|
|
|
|
|
|
|
Dominion Resources, 8.375%, Series A
(b)
|
|
235,000
|
|
6,302,700
|
|
|
|
|
|
|
|
|
|
FINANCE 1.3%
|
|
|
|
|
|
|
INVESTMENT ADVISORY SERVICES 0.2%
|
|
|
|
|
|
|
Ameriprise Financial, 7.75%, due 6/15/39
(b)
|
|
50,000
|
|
1,237,500
|
|
|
|
|
|
|
|
|
|
INVESTMENT BANKER/BROKER 0.3%
|
|
|
|
|
|
|
Bear Stearns Capital Trust III, 7.80%, 5/15/31
(b)
|
|
90,000
|
|
2,255,400
|
|
|
|
|
|
|
|
|
|
MORTGAGE LOAN/BROKER 0.8%
|
|
|
|
|
|
|
Countrywide Capital IV, 6.75%, due 4/1/33
|
|
150,000
|
|
3,025,500
|
|
|
Countrywide Capital V, 7.00%, due 11/1/36
|
|
105,000
|
|
2,159,850
|
|
|
|
|
|
|
5,185,350
|
|
|
TOTAL FINANCE
|
|
|
|
8,678,250
|
|
|
|
|
|
|
|
|
|
INSURANCE 2.2%
|
|
|
|
|
|
|
MULTI-LINE 0.4%
|
|
|
|
|
|
|
MetLife, 6.50%, Series B
(b)
|
|
100,000
|
|
2,373,000
|
|
|
|
|
|
|
|
|
|
MULTI-LINE—FOREIGN 0.9%
|
|
|
|
|
|
|
Allianz SE, 8.375%
(b)
|
|
167,300
|
|
4,008,508
|
|
|
ING Groep N.V., 7.375%
(b)
|
|
142,000
|
|
2,357,200
|
|
|
|
|
|
|
6,365,708
|
|
|
PROPERTY CASUALTY—FOREIGN 0.5%
|
|
|
|
|
|
|
Arch Capital Group Ltd., 8.00%
(b)
|
|
129,000
|
|
3,160,500
|
|
|
|
|
|
|
|
|
|
REINSURANCE—FOREIGN 0.4%
|
|
|
|
|
|
|
Aspen Insurance Holdings Ltd., 7.401%,
Series A
(b)
|
|
150,000
|
|
3,045,000
|
|
|
TOTAL INSURANCE
|
|
|
|
14,944,208
|
|
|
|
|
|
|
|
|
|
INTEGRATED TELECOMMUNICATIONS SERVICES 0.9%
|
|
|
|
|
|
|
Telephone & Data Systems, 7.60%, due
12/1/41, Series A
(b)
|
|
263,375
|
|
6,057,625
|
|
|
|
|
|
|
|
|
|
MEDIA—DIVERSIFIED SERVICES 1.0%
|
|
|
|
|
|
|
Comcast Corp., 7.00%, due 9/15/55, Series B
(b)
|
|
280,000
|
|
6,994,400
|
|
|
|
|
|
|
|
|
|
7
|
|
|
Number
of Shares
|
|
Value
|
|
|
REAL ESTATE 11.5%
|
|
|
|
|
|
|
DIVERSIFIED 1.0%
|
|
|
|
|
|
|
Duke Realty Corp., 8.375%, Series O
(b)
|
|
77,300
|
|
$
|
1,876,071
|
|
|
Forest City Enterprises, 7.375%, Class A
(b)
|
|
259,975
|
|
5,168,303
|
|
|
|
|
|
|
7,044,374
|
|
|
HEALTH CARE 4.4%
|
|
|
|
|
|
|
Health Care REIT, 7.875%, Series D
(b)
|
|
134,813
|
|
3,242,253
|
|
|
Health Care REIT, 7.625%, Series F
(b)
|
|
200,000
|
|
4,738,000
|
|
|
LTC Properties, 8.00%, Series F
(b)
|
|
432,226
|
|
10,114,089
|
|
|
Omega Healthcare Investors, 8.375%, Series D
(b)
|
|
469,618
|
|
11,540,862
|
|
|
|
|
|
|
29,635,204
|
|
|
HOTEL 0.9%
|
|
|
|
|
|
|
Host Hotels & Resorts, 8.875%,
Series E
(b)
|
|
80,000
|
|
2,000,000
|
|
|
LaSalle Hotel Properties, 8.00%, Series E
(b)
|
|
170,000
|
|
3,762,100
|
|
|
|
|
|
|
5,762,100
|
|
|
OFFICE 2.3%
|
|
|
|
|
|
|
Alexandria Real Estate Equities, 8.375%,
Series C
(b)
|
|
200,025
|
|
4,844,605
|
|
|
Brandywine Realty Trust, 7.50%, Series C
(b)
|
|
160,010
|
|
3,534,621
|
|
|
SL Green Realty Corp., 7.625%, Series C
(b)
|
|
235,050
|
|
5,211,058
|
|
|
SL Green Realty Corp., 7.875%, Series D
(b)
|
|
94,650
|
|
2,153,288
|
|
|
|
|
|
|
15,743,572
|
|
|
OFFICE/INDUSTRIAL 0.8%
|
|
|
|
|
|
|
PS Business Parks, 6.875%, Series I
(b)
|
|
245,000
|
|
5,191,550
|
|
|
|
|
|
|
|
|
|
RESIDENTIAL- APARTMENT 0.4%
|
|
|
|
|
|
|
Apartment Investment & Management Co.,
8.00%, Series T
(b)
|
|
138,400
|
|
2,952,072
|
|
|
|
|
|
|
|
|
|
SHOPPING CENTER 1.7%
|
|
|
|
|
|
|
COMMUNITY CENTER 1.4%
|
|
|
|
|
|
|
Developers Diversified Realty Corp., 7.50%,
Series I
(b)
|
|
295,555
|
|
5,201,768
|
|
|
Kimco Realty Corp., 7.75%, Series G
(b)
|
|
88,700
|
|
2,159,845
|
|
|
Saul Centers, 8.00%, Series A
(b)
|
|
96,300
|
|
2,226,456
|
|
|
|
|
|
|
9,588,069
|
|
|
|
|
|
|
|
|
|
8
|
|
|
Number
of Shares
|
|
Value
|
|
|
REGIONAL MALL 0.3%
|
|
|
|
|
|
|
CBL & Associates Properties, 7.75%,
Series C
(b)
|
|
114,710
|
|
$
|
2,236,845
|
|
|
TOTAL SHOPPING CENTER
|
|
|
|
11,824,914
|
|
|
|
|
|
|
|
|
|
TOTAL REAL ESTATE
|
|
|
|
78,153,786
|
|
|
|
|
|
|
|
|
|
UTILITIES—MULTI UTILITIES 0.4%
|
|
|
|
|
|
|
Xcel Energy, 7.60%
(b)
|
|
100,000
|
|
2,598,000
|
|
|
|
|
|
|
|
|
|
TOTAL PREFERRED SECURITIES—$25
PAR VALUE
(Identified cost—$162,553,274)
|
|
|
|
150,221,963
|
|
|
|
|
|
|
|
|
|
PREFERRED SECURITIES—CAPITAL SECURITIES 15.3%
|
|
|
|
|
|
|
BANK 4.4%
|
|
|
|
|
|
|
Astoria Capital Trust I, 9.75%, due 11/1/29, Series B
(b),(f)
|
|
3,000,000
|
|
3,083,850
|
|
|
Bank of America Corp., 8.125%, due 12/29/49
|
|
3,000,000
|
|
2,670,870
|
|
|
Citigroup Capital XXI, 8.30%, due 12/21/57
|
|
4,000,000
|
|
3,595,000
|
|
|
CoBank ACB, 11.00%, Series C, 144A
(g)
|
|
80,000
|
|
3,685,000
|
|
|
JPMorgan Chase & Co., 7.90%, due 4/29/49
(b),(c)
|
|
3,070,000
|
|
2,956,707
|
|
|
PNC Preferred Funding Trust I, 8.70%, due
12/31/49, 144A
(b),(c),(g)
|
|
7,300,000
|
|
6,904,289
|
|
|
Sovereign Capital Trust VI, 7.908%, due 6/13/36
(b)
|
|
3,415,000
|
|
3,111,328
|
|
|
Wachovia Capital Trust III, 5.80%, due 3/29/49
(FRN)
(b)
|
|
2,250,000
|
|
1,586,250
|
|
|
Wells Fargo & Co, 7.98%, due 2/28/49
(b)
|
|
2,500,000
|
|
2,287,500
|
|
|
|
|
|
|
29,880,794
|
|
|
BANK—FOREIGN 1.7%
|
|
|
|
|
|
|
Barclays Bank PLC, 6.278%, due 12/31/49
(b)
|
|
4,500,000
|
|
3,397,500
|
|
|
Groupe BPCE SA, 12.50%, due 06/29/49, 144A
(g)
|
|
1,113,000
|
|
1,257,690
|
|
|
Rabobank Nederland, 11.00%, due 12/29/49, 144A
(b),(c),(g)
|
|
3,750,000
|
|
4,606,575
|
|
|
Societe Generale, 8.75%, due 10/07/49
|
|
1,000,000
|
|
999,000
|
|
|
Standard Chartered PLC, 7.014%, due 12/30/49, 144A
(b),(g)
|
|
2,000,000
|
|
1,644,416
|
|
|
|
|
|
|
11,905,181
|
|
|
FINANCE 1.1%
|
|
|
|
|
|
|
CREDIT CARD 0.7%
|
|
|
|
|
|
|
Capital One Capital III, 7.686%, due 8/15/36
(b)
|
|
3,500,000
|
|
3,010,000
|
|
|
Capital One Capital V, 10.25%, due 08/15/39
|
|
1,500,000
|
|
1,661,680
|
|
|
|
|
|
|
4,671,680
|
|
|
|
|
|
|
|
|
|
9
|
|
|
Number
of Shares
|
|
Value
|
|
|
DIVERSIFIED FINANCIAL SERVICES 0.4%
|
|
|
|
|
|
|
ZFS Finance USA Trust II, 6.45%, due 12/15/65,
144A
(b),(c),(g)
|
|
3,080,000
|
|
$
|
2,802,800
|
|
|
TOTAL FINANCE
|
|
|
|
7,474,480
|
|
|
|
|
|
|
|
|
|
FOOD 1.1%
|
|
|
|
|
|
|
Dairy Farmers of America, 7.875%, 144A
(b),(f),(g)
|
|
42,500
|
|
3,077,268
|
|
|
HJ Heinz Finance Co, 8.00%, due 7/15/13, 144A
(b),(g)
|
|
40
|
|
4,121,250
|
|
|
|
|
|
|
7,198,518
|
|
|
INSURANCE 4.0%
|
|
|
|
|
|
|
MULTI-LINE 1.9%
|
|
|
|
|
|
|
AXA SA, 8.60%, due 12/15/30
(b),(c)
|
|
4,800,000
|
|
5,003,376
|
|
|
Metlife Capital Trust IV, 7.875%, due 12/15/67,
144A
(b),(g)
|
|
1,500,000
|
|
1,432,500
|
|
|
MetLife Capital Trust X, 9.25%,due 4/8/38, 144A
(b),(g)
|
|
3,600,000
|
|
3,753,641
|
|
|
Old Mutual Capital Funding, 8.00%, due 5/29/49,
(Eurobond)
|
|
3,500,000
|
|
2,870,000
|
|
|
|
|
|
|
13,059,517
|
|
|
PROPERTY CASUALTY 2.1%
|
|
|
|
|
|
|
Catlin Insurance Co., 7.249%, due 12/1/49, 144A
(b),(g)
|
|
5,000,000
|
|
3,375,000
|
|
|
Liberty Mutual Group, 7.00%, due 3/15/37, 144A
(b),(g)
|
|
2,000,000
|
|
1,464,108
|
|
|
Liberty Mutual Group, 7.80%, due 3/15/37, 144A
(b),(g)
|
|
7,000,000
|
|
5,425,000
|
|
|
Liberty Mutual Group, 10.75%, due 6/15/58, 144A
(b),(g)
|
|
4,000,000
|
|
3,860,000
|
|
|
|
|
|
|
14,124,108
|
|
|
TOTAL INSURANCE
|
|
|
|
27,183,625
|
|
|
|
|
|
|
|
|
|
PIPELINES 0.9%
|
|
|
|
|
|
|
Enbridge Energy Partners LP, 8.05%, due 10/1/37
(b)
|
|
3,000,000
|
|
2,673,762
|
|
|
Enterprise Products Operating LP, 8.375%, due
8/1/66
(b)
|
|
3,500,000
|
|
3,276,626
|
|
|
|
|
|
|
5,950,388
|
|
|
UTILITIES 2.1%
|
|
|
|
|
|
|
ELECTRIC UTILITIES 0.6%
|
|
|
|
|
|
|
DPL Capital Trust II, 8.125%, due 9/1/31
(b)
|
|
4,000,000
|
|
3,922,228
|
|
|
|
|
|
|
|
|
|
GAS UTILITIES 1.0%
|
|
|
|
|
|
|
Southern Union Co., 7.20%, due 11/1/66
(b)
|
|
8,750,000
|
|
6,934,375
|
|
|
|
|
|
|
|
|
|
10
|
|
|
Number
of Shares
|
|
Value
|
|
|
MULTI UTILITIES 0.5%
|
|
|
|
|
|
|
Dominion Resources Capital Trust I, 7.83%, due
12/1/27
(b)
|
|
4,000,000
|
|
$
|
3,888,672
|
|
|
TOTAL UTILITIES
|
|
|
|
14,745,275
|
|
|
|
|
|
|
|
|
|
TOTAL PREFERRED SECURITIES—CAPITAL
SECURITIES
(Identified cost—$107,079,268)
|
|
|
|
104,338,261
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal
Amount
|
|
|
|
|
CORPORATE BONDS 4.8%
|
|
|
|
|
|
|
FINANCE-INVESTMENT — BANKER/BROKER 0.4%
|
|
|
|
|
|
|
Raymond James Financial, 8.60%, due 08/15/19
|
|
$
|
2,000,000
|
|
2,212,272
|
|
|
|
|
|
|
|
|
|
INTEGRATED TELECOMMUNICATIONS SERVICES 1.4%
|
|
|
|
|
|
|
Citizens Communications Co., 7.875%, due 1/15/27
(b)
|
|
2,000,000
|
|
1,835,000
|
|
|
Citizens Communications Co., 9.00%, due 8/15/31
(b)
|
|
5,500,000
|
|
5,417,500
|
|
|
Frontier Communication, 8.125%, due 10/01/18
|
|
2,500,000
|
|
2,528,125
|
|
|
|
|
|
|
9,780,625
|
|
|
MEDIA 1.1%
|
|
|
|
|
|
|
Cablevision System Corp., 8.625, due 09/15/17,
144A
(g)
|
|
2,500,000
|
|
2,593,750
|
|
|
Rogers Cable, 8.75%, due 5/1/32
(b)
|
|
3,430,000
|
|
4,513,383
|
|
|
|
|
|
|
7,107,133
|
|
|
OIL & GAS EXPLORATION &
PRODUCTION 0.5%
|
|
|
|
|
|
|
Nexen, 7.50%, due 07/30/39
|
|
3,000,000
|
|
3,276,987
|
|
|
|
|
|
|
|
|
|
REAL ESTATE 1.4%
|
|
|
|
|
|
|
DIVERSIFIED 0.3%
|
|
|
|
|
|
|
Dexus Property Group, 7.125%, due 10/15/14, 144A
(g)
|
|
2,000,000
|
|
2,001,020
|
|
|
|
|
|
|
|
|
|
HOTEL 0.3%
|
|
|
|
|
|
|
Hospitality Properties Trust, 7.875%, due 8/15/14
|
|
2,000,000
|
|
2,005,844
|
|
|
|
|
|
|
|
|
|
OFFICE 0.4%
|
|
|
|
|
|
|
Brandywine Operating Partnership LP, 7.50%, due
05/15/15
|
|
2,500,000
|
|
2,503,973
|
|
|
|
|
|
|
|
|
|
11
|
|
|
Principal
Amount
|
|
Value
|
|
|
SHOPPING CENTER—COMMUNITY CENTER 0.4%
|
|
|
|
|
|
|
Developers Diversified Realty Corp., 9.625, due
3/15/2016
|
|
$
|
2,750,000
|
|
$
|
2,761,899
|
|
|
TOTAL REAL ESTATE
|
|
|
|
9,272,736
|
|
|
|
|
|
|
|
|
|
TOTAL CORPORATE BONDS (Identified cost—$30,352,221)
|
|
|
|
31,649,753
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number
of Shares
|
|
|
|
|
SHORT-TERM INVESTMENT 1.8%
|
|
|
|
|
|
|
MONEY MARKET FUND
|
|
|
|
|
|
|
Federated U.S. Treasury Cash Reserves Fund, 0.001%
(h)
(Identified cost—$12,404,396)
|
|
12,404,396
|
|
12,404,396
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS
(Identified cost—$1,034,608,784)
|
160.9
|
%
|
|
|
1,089,374,015
|
|
|
|
|
|
|
|
|
|
|
WRITTEN CALL OPTIONS
|
0.0
|
%
|
|
|
(63,475
|
)
|
|
|
|
|
|
|
|
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS
|
(60.9
|
)%
|
|
|
(412,050,609
|
)
|
|
|
|
|
|
|
|
|
|
NET ASSETS (Equivalent to $11.51 per share based
on 58,858,135 shares of common stock outstanding)
|
100.0
|
%
|
|
|
$
|
677,259,931
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Contracts
|
|
|
|
|
WRITTEN CALL OPTION
|
|
|
|
|
|
|
|
Utilities Custom Basket, Strike Price 101,
10/15/09
(Premiums Received—$137,500)
|
|
|
125,000
|
|
$
|
(63,475
|
)
|
|
|
|
|
|
|
|
|
|
12
Glossary
of Portfolio Abbreviations
|
ADR
|
|
American Depositary Receipt
|
|
FRN
|
|
Floating Rate Note
|
|
REIT
|
|
Real Estate Investment Trust
|
Note:
Percentages indicated are based on the net assets of the Fund.
(a)
Non-income producing
security.
(b)
A portion or all of the
security is pledged in connection with the revolving credit agreement:
$734,035,888 has been pledged as collateral.
(c)
Re-hypothecated in connection
with the Fund’s outstanding revolving credit agreement.
Aggregate
holdings equal 17.8% of net assets of the Fund.
(d)
A portion of the security is
segregated as collateral for interest rate swap transactions: $11,672,750 has
been segregated as collateral.
(e)
All or a portion of the
security is pledged in connection with written option contracts: $17,197,200
has been pledged to brokers.
(f)
Illiquid security. Aggregate holdings equal 0.9% of net assets
of the Fund.
(g)
Resale is restricted to
qualified institutional investors.
Aggregate holdings equal 7.7% of net assets of the Fund.
(h)
Rate quoted represents the
seven day yield of the fund.
13
Interest rate
swaps outstanding at September 30, 2009 are as follows:
|
|
|
|
|
Fixed
|
|
Floating Rate(a)
|
|
|
|
|
|
|
|
|
Notional
|
|
Rate
|
|
(reset monthly)
|
|
Termination
|
|
Unrealized
|
|
|
Counterparty
|
|
Amount
|
|
Payable
|
|
Receivable
|
|
Date
|
|
Depreciation
|
|
|
Merrill
Lynch Derivative Products AG
|
|
$
|
31,000,000
|
|
3.461
|
%
|
0.246
|
%
|
March 29,
2010
|
|
$
|
(490,099
|
)
|
|
Merrill
Lynch Derivative Products Ag
|
|
$
|
70,000,000
|
|
3.600
|
%
|
0.246
|
%
|
January 29,
2014
|
|
(3,758,317
|
)
|
|
Royal
Bank of Canada
|
|
$
|
40,000,000
|
|
3.498
|
%
|
0.246
|
%
|
November 22,
2012
|
|
(2,083,428
|
)
|
|
Royal
Bank of Canada
|
|
$
|
40,000,000
|
|
3.634
|
%
|
0.246
|
%
|
March 31,
2014
|
|
(2,180,615
|
)
|
|
UBS
AG
|
|
$
|
60,000,000
|
|
3.639
|
%
|
0.243
|
%
|
April 17,
2013
|
|
(3,429,468
|
)
|
|
|
|
|
|
|
|
|
|
|
|
$
|
(11,941,927
|
)(b)
|
(a) Based on
LIBOR (London Interbank Offered Rate).
Represents rates in effect at September 30, 2009.
(b) $4,248,000
is segregated as collateral for interest rate swap transactions.
NOTES TO FINANCIAL STATEMENTS
Note 1.
Portfolio
Valuation:
Investments in
securities that are listed on the New York Stock Exchange are valued, except as
indicated below, at the last sale price reflected at the close of the New York
Stock Exchange 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 asked prices for the day or, if no asked price is
available, at the bid price.
Exchange traded options are valued at their last sale price as of the
close of options trading on applicable exchanges. In the absence of a last
sale, options are valued at the average of the quoted bid and asked prices as
of the close of business. Over-the-counter options quotations are provided by
the respective counterparty.
Securities not listed on the New York Stock Exchange but listed on
other domestic or foreign securities exchanges or admitted to trading on the
National Association of Securities Dealers Automated Quotations, Inc.
(Nasdaq) national market system are valued in a similar manner. Securities
traded on more than one securities exchange are valued at the last sale price
on the business day as of which such value is being determined as reflected on
the tape at the close of the exchange representing the principal market for
such securities. If after a close of the
foreign market, but prior to the close of business on the day the securities
are being valued, market conditions change significantly, certain foreign
securities may be fair valued pursuant to procedures established by the Board
of Directors.
Readily marketable securities traded in the over-the-counter market,
including listed securities whose primary market is believed by Cohen &
Steers Capital Management, Inc. (the investment manager) to be
over-the-counter, are valued at the official closing prices as reported by
sources as the Board of Directors deem appropriate to reflect their fair market
value. If there has been no sale on such day, the securities are valued at the
mean of the closing bid and asked prices for the day, or if no asked price is
available, at the bid price. However, certain fixed-income securities may be
valued on the basis of prices provided by a pricing service when such prices are
believed by the Board of Directors to reflect the fair market value of such
securities. Interest rate swaps are valued utilizing quotes received from an
outside pricing service.
Securities for which market prices are unavailable, or
securities for which the investment manager determines that bid and/or asked
price does not reflect market value, will be valued at fair value 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 net asset value of Fund shares
to differ from the net asset value 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.
NOTES TO FINANCIAL STATEMENTS (Continued)
Short-term
debt securities with a maturity date of 60 days or less are valued at amortized
cost, which approximates value.
Fair
value is defined as the price that the Fund would receive to sell an investment
or 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, prepayment speeds, 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 securities are not necessarily an
indication of the risk associated with investing in those securities.
The
following is a summary of the inputs used as of September 30, 2009 in
valuing the Fund’s investments carried at value:
|
|
|
Fair Value Measurements at September 30, 2009 Using
|
|
|
|
|
Total
|
|
Quoted
Prices In
Active
Market for
Identical
Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
|
Common Stock
|
|
$
|
790,759,642
|
|
$
|
790,759,642
|
|
$
|
—
|
|
$
|
—
|
|
|
Preferred Securities - $25 Par Value
|
|
150,221,963
|
|
150,221,963
|
|
—
|
|
—
|
|
|
Preferred Securities - Capital Securities – Bank -
Foreign
|
|
11,905,181
|
|
—
|
|
7,249,991
|
|
4,655,190
|
|
|
Preferred Securities - Capital Securities – Food
|
|
7,198,518
|
|
—
|
|
4,121,250
|
|
3,077,268
|
|
|
Preferred Securities - Capital Securities – Other
Industries
|
|
85,234,562
|
|
—
|
|
85,234,562
|
|
—
|
|
|
Corporate Bonds – Real Estate – Diversified
|
|
2,001,020
|
|
—
|
|
—
|
|
2,001,020
|
|
|
Corporate Bonds – Other Industries
|
|
29,648,733
|
|
—
|
|
29,648,733
|
|
—
|
|
|
Money Market Funds
|
|
12,404,396
|
|
—
|
|
12,404,396
|
|
—
|
|
|
Total Investments
|
|
$
|
1,089,374,015
|
|
$
|
940,981,605
|
|
$
|
138,658,932
|
|
$
|
9,733,478
|
|
|
Other Financial
Instruments*
|
|
$
|
(12,005,402
|
)
|
$
|
—
|
|
$
|
(12,005,402
|
)
|
$
|
—
|
|
NOTES TO FINANCIAL STATEMENTS (Continued)
*Other
financial instruments are interest swaps and written options.
Following
is a reconciliation of investments in which significant unobservable inputs
(Level 3) were used in determining fair value:
|
|
|
Investments
in Securities
|
|
|
|
|
|
|
|
Balance as of December 31, 2008
|
|
$
|
3,429,612
|
|
|
|
|
|
|
|
Accrued discounts
|
|
882
|
|
|
|
|
|
|
|
Realized loss
|
|
(799,030
|
)
|
|
|
|
|
|
|
Change in unrealized appreciation
|
|
2,445,787
|
|
|
|
|
|
|
|
Net purchases
|
|
4,656,227
|
|
|
|
|
|
|
|
Balance as of September 30, 2009
|
|
$
|
9,733,478
|
|
Note 2
.
Derivative
Instruments
The following is a summary of the market valuations of the
Fund’s derivative instruments as of September 30, 2009:
|
Written Options
|
|
$
|
(63,475
|
)
|
|
Interest Rate Swaps
|
|
(11,941,927
|
)
|
|
Total
|
|
$
|
(12,005,402
|
)
|
Interest Rate Swaps:
The Fund uses interest rate
swaps in connection with the sale of preferred shares and borrowing under its
credit agreement. The interest rate swaps are intended to reduce the risk that
an increase in short-term interest rates could have on the performance of the
Fund’s common shares as a result of the floating rate structure of the
preferred shares and the credit agreement. In these 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
agreeing to pay the Fund a variable rate payment that is intended to
approximate the Fund’s variable rate payment obligation on the preferred shares
and the credit agreement. 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
common shares. The market value of interest rate swaps is based on pricing
models that consider the time value of money, volatility,
NOTES TO FINANCIAL STATEMENTS (Continued)
the
current market and contractual prices of the underlying financial instrument.
Unrealized appreciation is reported as an asset and unrealized depreciation is
reported as a liability on the Statement of Assets and Liabilities. The change
in value of swaps, including the accrual of periodic amounts of interest to be
paid or received on swaps, is reported as unrealized appreciation or
depreciation in the Statement of Operations. A realized gain or loss is
recorded upon payment or receipt of a periodic payment or termination of swap
agreements. Swap agreements involve, to varying degrees, elements of market and
counterparty risk, and exposure to loss in excess of the related amounts
reflected in the Statement of Assets and Liabilities. The Fund’s maximum risk
of loss from counterparty credit risk is the discounted net value of the cash
flows to be received from or paid to the counterparty over the contract’s
remaining life, to the extent that such amount is positive.
Options:
The Fund may
write covered call options on an index or a security with the intention of
earning option premiums. Option premiums generate current income and may help
increase distributable income. When a Fund writes (sells) an option, an amount
equal to the premium received by the Fund is recorded in the Statement of
Assets and Liabilities 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 or loss on the option
to the extent of the premiums received. Premiums received from writing options
which are exercised or are closed, are added to or offset against the proceeds
or amount paid on the transaction 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 index or security. Other risks include the
possibility of an illiquid options market or the inability of the
counterparties to fulfill their obligations under the contract.
Note 3
.
Income
Tax Information
As
of September 30, 2009, the federal tax cost and net unrealized
appreciation on securities were as follows:
|
Gross unrealized appreciation
|
|
$
|
121,750,288
|
|
|
Gross unrealized depreciation
|
|
(66,985,057
|
)
|
|
Net unrealized appreciation
|
|
$
|
54,765,231
|
|
|
|
|
|
|
|
Cost for federal income tax purposes
|
|
$
|
1,034,608,784
|
|
Note 4. Merger
On June 10, 2009, the
Board of Directors of the Fund and Cohen & Steers Select Utility Fund, Inc.
(“UTF”) approved a merger, subject to approval by the Fund’s shareholders, in
which the Fund would merge with and into UTF in accordance with Maryland
General Corporation Law. If each fund’s shareholders approve the merger,
shareholders of the Fund would become shareholders of UTF. In connection with
the merger, all of the Fund’s assets and liabilities will be combined with UTF,
and each shareholder of the Fund will receive a number of shares of UTF in
exchange for
NOTES
TO FINANCIAL STATEMENTS (Continued)
their shares of the Fund
having an aggregate net asset value equal to the aggregate net asset value of
the Fund’s shares held as of the close of business of the New York Stock
Exchange on the closing date of the merger. The merger is subject to approval
of the shareholders of each of the Fund and UTF and shareholders will vote
separately on the merger. If shareholders approve the merger, the closing date
of the merger is expected to be on or about December 18, 2009.
The Investment Manager may
elect to consummate the merger at or prior to the closing date and will
promptly notify Fund shareholders of any such change.
Merger related expenses,
which will be borne by the Fund, are estimated to be approximately $395,000.
Item 2.
Controls and Procedures
(a)
The registrant’s
principal executive officer and principal financial officer have concluded that
the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under
the Investment Company Act of 1940) are effective based on their evaluation of
these disclosure controls and procedures required by Rule 30a-3(b) under
the Investment Company Act of 1940 and Rule 13a-15(b) or 15d-15(b) under
the Securities Exchange Act as of a date within 90 days of the filing of this
report.
(b)
During the last
fiscal quarter, there were no changes in the registrant’s internal control over
financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940) that has materially affected, or is reasonably likely to
materially affect, the registrant’s internal control over financial reporting.
Item 3. Exhibits.
(a)
Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
COHEN &
STEERS REIT AND UTILITY INCOME FUND, INC.
|
By:
|
/s/
Adam M. Derechin
|
|
|
|
Name: Adam M. Derechin
|
|
|
|
Title:
President
|
|
|
|
|
|
|
|
Date:
November 23, 2009
|
|
Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons
on behalf of the registrant and in the capacities and on the dates indicated.
|
By:
|
/s/
Adam M. Derechin
|
|
By:
|
/s/
James Giallanza
|
|
|
Name:
Adam M. Derechin
|
|
|
Name:
James Giallanza
|
|
|
Title:
President and principal executive officer
|
|
|
Title:
Treasurer and principal financial officer
|
|
|
|
|
|
|
|
|
Date:
November 23, 2009
|
|
|
|
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