UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT COMPANY
Investment Company Act file number: 811-21326
Exact Name of Registrant
(as specified in charter): Cohen & Steers REIT and Preferred Income Fund, Inc.
Address of Principal Executive Office: 757 Third Avenue
New York, NY 10017
Name and address of agent for service: John E. McLean
757 Third Avenue
New York, NY 10017
Registrant telephone number, including area code: (212) 832-3232
Date of fiscal year end: December 31
Date of reporting period: September 30, 2005
Item 1. Schedule of Investments
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
COMMON STOCK 83.3%
DIVERSIFIED 6.7%
Colonial Properties Trust 300,000 $ 13,344,000
Crescent Real Estate Equities Co. 562,400 11,534,824
Digital Realty Trust 77,000 1,386,000
Entertainment Properties Trust 119,200 5,319,896
iStar Financial 990,000 40,025,700
Spirit Finance Corp. 470,400 5,292,000
Vornado Realty Trust 239,100 20,710,842
--------------
97,613,262
--------------
HEALTH CARE 12.6%
Health Care Property Investors (a) 2,355,200 63,566,848
Health Care REIT 1,745,600 64,744,304
Healthcare Realty Trust 288,900 11,596,446
Medical Properties Trust 26,800 262,640
Nationwide Health Properties 1,362,200 31,739,260
Ventas 335,000 10,787,000
--------------
182,696,498
--------------
HOTEL 2.9%
DiamondRock Hospitality Co. 565,600 6,645,800
Hospitality Properties Trust 545,200 23,367,272
Strategic Hotel Capital 671,500 12,261,590
--------------
42,274,662
--------------
INDUSTRIAL 3.0%
First Industrial Realty Trust 1,073,900 43,009,695
--------------
MORTGAGE 2.5%
Gramercy Capital Corp. 200,000 4,792,000
Newcastle Investment Corp. 1,135,074 31,668,565
--------------
36,460,565
--------------
--------------------------------------------------------------------------------
1
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
OFFICE 26.0%
American Financial Realty Trust 1,404,900 $ 19,949,580
Arden Realty 1,488,700 61,289,779
Brandywine Realty Trust 787,800 24,492,702
CarrAmerica Realty Corp. 935,700 33,638,415
Equity Office Properties Trust 2,533,300 82,864,243
Highwoods Properties 910,200 26,860,002
HRPT Properties Trust 1,466,100 18,194,301
Mack-Cali Realty Corp. 1,199,500 53,905,530
Maguire Properties 1,286,100 38,647,305
Prentiss Properties Trust 389,100 15,797,460
Reckson Associates Realty Corp. 87,500 3,023,125
--------------
378,662,442
--------------
OFFICE/INDUSTRIAL 5.2%
Duke Realty Corp. 584,600 19,806,248
Liberty Property Trust 1,143,300 48,635,982
Mission West Properties 778,800 7,819,152
--------------
76,261,382
--------------
RESIDENTIAL - APARTMENT 11.1%
American Campus Communities 275,500 6,617,510
AMLI Residential Properties Trust 590,400 18,934,128
Apartment Investment & Management Co. 270,200 10,478,356
Archstone-Smith Trust 1,052,067 41,945,911
Camden Property Trust 581,800 32,435,350
Education Realty Trust 399,300 6,668,310
GMH Communities Trust 604,200 8,863,614
Home Properties 348,700 13,686,475
Mid-America Apartment Communities 349,000 16,231,990
Town and Country Trust 173,400 5,032,068
--------------
160,893,712
--------------
--------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
SELF STORAGE 1.4%
Extra Space Storage (Restricted)(b,c) 94,500 $ 1,380,739
Sovran Self Storage 222,200 10,876,690
U-Store-It Trust 402,600 8,160,702
--------------
20,418,131
--------------
SHOPPING CENTER 11.9%
COMMUNITY CENTER 7.9%
Cedar Shopping Centers 577,300 8,353,531
Heritage Property Investment Trust 1,849,600 64,736,000
Inland Real Estate Corp. 395,700 6,196,662
New Plan Excel Realty Trust 1,029,800 23,633,910
Ramco-Gershenson Properties Trust 390,000 11,384,100
--------------
114,304,203
--------------
REGIONAL MALL 4.0%
Glimcher Realty Trust 1,834,600 44,892,662
Macerich Co. 215,200 13,975,088
--------------
58,867,750
--------------
TOTAL SHOPPING CENTER 173,171,953
--------------
TOTAL COMMON STOCK
(Identified cost-$930,170,017) 1,211,462,302
--------------
--------------------------------------------------------------------------------
3
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
PREFERRED SECURITIES - CAPITAL TRUST 35.2%
BANK 5.4%
AgFirst Farm Credit Bank, 7.30%,
due 10/14/49, 144A(d) 29,100,000 $ 29,230,804
Astoria Capital Trust I, 9.75%,
due 11/1/29, Series B 13,500,000 15,747,750
First Tennessee Bank, 144A (FRN)(d) 2,000 2,020,000
Great Western Financial Trust II, 8.206%,
due 2/1/27, Series A 2,232,000 2,404,380
Roslyn Preferred Trust I, 4.78%,
due 4/1/32, (FRN), 144A(d) 7,500,000 7,537,500
Roslyn Real Estate Asset Corp., 4.813%,
due 9/30/08, Series D (FRN) 100 10,025,000
Sky Financial Capital Trust I, 9.75%,
due 5/1/30, Series B 3,000,000 3,473,700
Webster Capital Trust I, 9.36%,
due 1/29/27, 144A(d) 7,300,000 7,945,685
--------------
78,384,819
--------------
BANK-FOREIGN 7.4%
BNP Paribas Capital Trust V, 7.20%,
due 12/31/49 19,550,000 20,168,484
CA Preferred Funding Trust, 7.00%,
due 1/29/49 (Eurobond) 25,200,000 26,160,473
HBOS Capital Funding LP, 6.85%, due 3/01/49 25,000,000 25,735,825
HSBC Capital Funding LP, 10.176%,
due 12/31/49, 144A (d) 9,680,000 15,039,351
RBS Capital Trust B, 6.80%, due 12/05/49 19,700,000 20,103,161
--------------
107,207,294
--------------
--------------------------------------------------------------------------------
4
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
ELECTRIC - INTEGRATED 3.0%
Dominion Resources Capital Trust III,
8.40%, due 1/15/31 21,732,000 $ 26,838,759
DPL Capital Trust II, 8.125%, due 9/01/31 3,000,000 3,645,000
Entergy Arkansas, 7.40%, Series 12,099 1,237,123
Enterprise Capital Trust II,
due 6/30/28, Series B 3,000,000 2,976,357
Southern California Edison Co.,
6.125%, Series B 92,500 9,291,625
--------------
43,988,864
--------------
FINANCE 4.9%
CREDIT CARD 0.4%
MBNA Capital, 8.278%, due 12/1/26,
Series A 5,200,000 5,587,697
--------------
DIVERSIFIED FINANCIAL SERVICES 2.2%
Old Mutual Capital Funding, 8.00%,
due 5/29/49 (Eurobond) 29,950,000 31,360,435
--------------
INVESTMENT BANKER/BROKER 1.4%
JPM Capital Trust I, 7.54%, due 1/15/27 1,925,000 2,049,101
NBP Capital Trust III, 7.375%, due 10/29/49 16,900,000 17,977,341
--------------
20,026,442
--------------
MORTGAGE LOAN/BROKER 0.9%
Countrywide Capital III, 8.05%,
due 6/15/27, Series B (SKIS) 11,285,000 13,580,595
--------------
TOTAL FINANCE 70,555,169
--------------
FOOD 1.5%
Dairy Farmers of America, 7.875%,
144A(b,d) 135,000 13,209,588
Gruma S.A., 7.75%, due 12/29/49, 144A (d) 9,000,000 9,213,750
--------------
22,423,338
--------------
--------------------------------------------------------------------------------
5
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
INSURANCE 7.3%
LIFE/HEALTH INSURANCE 1.2%
AmerUS Capital I, 8.85%, due 2/1/27,
Series A 2,000,000 $ 2,120,348
Liberty Mutual Insurance, 7.697%,
due 10/15/97, 144A (d) 15,230,000 15,535,910
--------------
17,656,258
--------------
LIFE/HEALTH INSURANCE - FOREIGN 0.2%
Prudential PLC, 6.50%, due 6/29/49 3,000,000 3,026,223
--------------
MULTI-LINE 5.1%
AFC Capital Trust I, 8.207%, due 2/03/27,
Series B (b) 15,750,000 16,630,834
AXA, 7.10%, due 5/29/49 (Eurobond) 26,500,000 27,385,100
GenAmerica Capital I, 8.525%,
due 6/30/27, 144A (d) 9,000,000 9,847,269
USF&G Capital, 8.312%, due 7/1/46, 144A (d) 3,845,000 4,615,888
Zurich Capital Trust I, 8.376%,
due 6/1/37, 144A (d) 14,212,000 15,229,338
--------------
73,708,429
--------------
PROPERTY CASUALTY 0.8%
Oil Casualty Insurance, 8.00%,
due 9/15/34, 144A (d) 8,000,000 8,187,720
W.R. Berkley Capital Trust, 8.197%,
due 12/15/45 4,100,000 4,210,470
--------------
12,398,190
--------------
TOTAL INSURANCE 106,789,100
--------------
MEDICAL - HOSPITAL 1.0%
Columbia/HCA, 7.50%, due 11/15/95 16,534,000 15,261,461
--------------
OIL - EXPLORATION AND PRODUCTION 0.8%
Pemex Project Funding Master Trust,
7.75%, due 9/29/49 11,000,000 11,464,750
--------------
--------------------------------------------------------------------------------
6
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
PIPELINES 1.7%
K N Capital Trust I, 8.56%, due 4/15/27,
Series B (TruPS) 9,513,000 $ 10,283,943
K N Capital Trust III, 7.63%, due 4/15/28,
(TruPS) 13,330,000 15,108,755
--------------
25,392,698
--------------
REAL ESTATE 0.4%
BF Saul Real Estate Investment Trust,
7.50%, due 3/01/14, 144A(d) 5,000,000 5,150,000
--------------
RETAIL 0.4%
JC Penney Co., 7.625%, due 3/01/97 5,000,000 5,150,000
--------------
TELECOMMUNICATION SERVICES 1.4%
Centaur Funding Corp., 9.08%,
due 4/21/20, 144A(d) 15,954 20,178,938
--------------
TOTAL PREFERRED SECURITIES -
CAPITAL TRUST
(Identified cost-$500,074,862) 511,946,431
--------------
PREFERRED SECURITIES - $25 PAR VALUE 27.9%
AUTOMOTIVE 0.1%
DaimlerChrysler, 7.25%, due 8/01/97,
Series (CBTCS) 36,808 925,721
DaimlerChrysler, 7.50%, due 8/01/97,
Series (CBTCS) 45,000 1,145,250
--------------
2,070,971
--------------
--------------------------------------------------------------------------------
7
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
BANK 2.5%
ASBC Capital I, 7.625%, due 6/15/32,
Series A (TOPrS) 75,500 $ 1,970,550
Cobank ACB, 7.00%, 144A(d) 200,000 10,500,000
Colonial Capital Trust IV, 7.875%,
due 10/01/33, Series 390,000 10,044,450
Countrywide Capital IV, 6.75%,
due 4/01/33, Series 71,100 1,806,651
First Republic Bank, 6.70%, Series A 216,500 5,479,615
Fleet Capital Trust VIII, 7.20%,
due 3/15/32, Series 87,900 2,254,635
HSBC USA, Series F 46,000 1,167,480
JPM Chase Capital XVI, 6.35%,
due 6/01/35, Series P 120,000 3,016,800
Old Second Bancorp Capital Trust I, 7.80%,
due 6/30/33, Series 55,550 595,496
--------------
36,835,677
--------------
BANK-FOREIGN 2.0%
Abbey National PLC, 7.375%, Series C 493,264 12,854,460
Banco Santander Central Hispano SA,
6.41%, Series 1 125,000 3,225,000
HSBC Holdings PLC, 6.20%, Series A 200,000 4,980,000
Northern Rock PLC, 8.00%, Series 30,000 755,400
Royal Bank of Scotland Group PLC, 7.25%,
Series H 55,600 1,420,024
Royal Bank of Scotland Group PLC, 6.35%,
Series N, (ADR) 200,000 5,082,000
--------------
28,316,884
--------------
--------------------------------------------------------------------------------
8
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
ELECTRIC - INTEGRATED 1.9%
Aquila, 7.875%, due 3/01/32, Series 42,400 $ 1,064,240
DTE Energy Trust II, 7.50%, due 6/01/44,
Series 76,800 2,012,160
Energy East Capital Trust I, 8.25%,
due 7/31/31, Series 61,000 1,579,900
Entergy Mississippi, 6.25%, Series 120,000 2,916,000
Enterprise Capital Trust, 7.44% 214,900 5,361,755
Enterprise Capital Trust III, 7.25%,
due 6/30/47, Series C 69,700 1,738,318
Northern States Power Co., 8.00%,
due 7/01/42, Notes (PINES) 41,700 1,091,706
NVP Capital I, 8.20%, due 3/31/37, Series A 2,600 65,286
NVP Capital III, 7.75%, due 9/30/38,
Series B 81,900 2,055,690
PSEG Funding Trust II, 8.75%, due 12/31/32,
Series 199,900 5,307,345
Puget Sound Energy Capital Trust II, 8.40%,
due 6/30/41 (TOPrS) 70,800 1,808,232
Sierra Pacific Power Co., 7.80%, Series 1 40,000 1,008,000
Virginia Power Capital Trust II, 7.375%,
due 7/30/42, Series (TruPS) 79,761 2,083,357
--------------
28,091,989
--------------
FINANCE 1.3%
CIT Group, 6.35%, Series A 200,000 5,074,000
MBNA Capital, 8.125%, Series D (TruPS) 234,100 6,168,535
MBNA Capital, 8.10%, due 2/15/33,
Series E (TOPrs) 166,300 4,431,895
Merrill Lynch & Co., Series 1 (FRN) 140,000 3,521,000
--------------
19,195,430
--------------
--------------------------------------------------------------------------------
9
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
GAS-DISTRIBUTION 3.2%
Dominion CNG Capital Trust I, 7.80%,
due 10/31/41, Series 78,700 $ 2,043,839
Laclede Capital Trust I, 7.70%,
due 12/01/32 (TOPrS) 56,300 1,469,430
Southern Union Co., 7.55%, Series A (e) 1,040,000 27,684,800
Southwest Gas Capital Trust II, 7.70%,
due 9/15/43, Series 600,000 15,780,000
--------------
46,978,069
--------------
INSURANCE 5.6%
LIFE/HEALTH INSURANCE 0.6%
AmerUs Group Co., 7.25%, Series A 120,000 2,976,000
Principal Financial Group, 6.518%, Series B 200,000 5,350,000
--------------
8,326,000
--------------
LIFE/HEALTH INSURANCE - FOREIGN 0.2%
Prudential PLC, 6.50%, Series A 120,000 3,018,000
--------------
MULTI-LINE 2.8%
Aegon NV, 6.375%, Series 400,000 10,196,000
ING Groep NV, 7.05%, Series 241,600 6,257,440
ING Groep NV, 7.20%, Series 165,700 4,326,427
MetLife, 6.50%, Series B 800,000 20,280,000
--------------
41,059,867
--------------
PROPERTY CASUALTY 1.4%
ACE Ltd; 7.80%, Series C 389,300 10,258,055
Berkley W R Capital Trust II, 6.75%,
due 7/26/45, Series 380,000 9,367,000
--------------
19,625,055
--------------
REINSURANCE 0.2%
EverestRe Capital Trust II, 6.20%,
due 3/29/34, Series B 100,000 2,329,000
--------------
--------------------------------------------------------------------------------
10
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
REINSURANCE - FOREIGN 0.4%
PartnerRe Ltd., 6.75%, Series C 206,500 $ 5,176,955
PartnerRe Ltd., 6.50%, Series D 54,000 1,341,900
--------------
6,518,855
--------------
TOTAL INSURANCE 80,876,777
--------------
MEDIA 1.5%
CABLE TELEVISION 0.8%
Shaw Communications, 8.50%, Series B (COPrS) 479,700 12,193,974
--------------
DIVERSIFIED SERVICES 0.7%
AOL Time Warner, 7.625%, due 5/01/32,
Series A-1 (CABCO) 117,600 3,122,280
Liberty Media Corp., 8.75%, due 2/01/30,
(CBTCS) 153,600 3,898,368
Liberty Media Corp., 8.75%, (PPLUS) 95,345 2,407,461
--------------
9,428,109
--------------
TOTAL MEDIA 21,622,083
--------------
OIL - EXPLORATION 1.1%
Nexen, 7.35%, due 11/1/43, Series B 608,660 15,952,979
--------------
REAL ESTATE 7.5%
DIVERSIFIED 1.4%
Digital Realty Trust, 8.50%, Series A 29,000 764,150
Digital Realty Trust, 7.875%, Series B 40,000 998,000
iStar Financial, 7.875%, Series E 400,000 10,460,000
iStar Financial, 7.80%, Series F 243,600 6,457,836
iStar Financial, 7.65%, Series G 80,000 2,014,400
--------------
20,694,386
--------------
HEALTH CARE 0.5%
Health Care REIT, 7.875%, Series D 100,000 2,589,500
Health Care REIT, 7.625%, Series F 10,000 253,000
Omega Healthcare Investors, 8.375%, Series D 200,000 5,188,000
--------------
8,030,500
--------------
--------------------------------------------------------------------------------
11
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
HOTEL 0.3%
Eagle Hospitality Properties Trust, 8.25%,
Series A 50,000 $ 1,255,000
Innkeepers USA Trust, 8.00%, Series C 93,500 2,445,025
--------------
3,700,025
--------------
OFFICE 1.7%
Cousins Properties, 7.75%, Series A 457,500 11,895,000
Kilroy Realty Corp., 7.80%, Series E 100,000 2,556,000
Maguire Properties, 7.625%, Series A 248,900 6,309,615
SL Green Realty Corp., 7.625%, Series C 100,000 2,539,000
SL Green Realty Corp., 7.875%, Series D 60,000 1,544,400
--------------
24,844,015
--------------
RESIDENTIAL - APARTMENT 2.1%
Apartment Investment & Management Co.,
8.00%, Series T 93,700 2,370,610
Apartment Investment & Management Co.,
8.00%, Series V 101,000 2,565,400
Apartment Investment & Management Co.,
7.875%, Series Y 110,000 2,761,000
Associated Estates Realty Corp., 8.70%,
Series B 40,000 1,042,000
Hovnanian Enterprises, 7.625%, Series A 130,500 3,151,445
Mid-America Apartment Communities, 8.30%,
Series H 690,600 18,024,660
--------------
29,915,115
--------------
SHOPPING CENTER 1.5%
COMMUNITY CENTER 0.3%
Developers Diversified Realty Corp., 8.00%,
Series G 38,700 1,003,104
Developers Diversified Realty Corp., 7.50%,
Series I 47,800 1,216,032
Saul Centers, 8.00%, Series A 69,400 1,814,810
--------------
4,033,946
--------------
--------------------------------------------------------------------------------
12
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Number
of Shares Value
------------- --------------
REGIONAL MALL 1.2%
Glimcher Realty Trust, 8.75%, Series F 277,800 $ 7,170,018
Glimcher Realty Trust, 8.125%, Series G 240,000 6,093,600
Mills Corp., 8.75%, Series E 197,600 5,236,400
--------------
18,500,018
--------------
TOTAL SHOPPING CENTER 22,533,964
--------------
TOTAL REAL ESTATE 109,718,005
--------------
TELECOMMUNICATION SERVICES 1.2%
Telephone & Data Systems, 6.625%,
due 3/31/45, Series 249,852 6,266,288
Telephone & Data Systems, 7.60%,
due 12/01/41, Series A 197,800 5,053,790
United States Cellular Corp., 7.50%,
due 6/15/34, Series 201,500 5,299,450
Verizon South, 7.00%, due 4/30/41, Series F 4,000 102,040
--------------
16,721,568
--------------
TOTAL PREFERRED SECURITIES -
$25 PAR VALUE
(Identified cost-$399,195,122) 406,380,432
--------------
Principal
Amount
-------------
CORPORATE BONDS 1.3%
CELLULAR TELECOMMUNICATIONS 0.1%
Rogers Wireless Communications, 8.00%,
due 12/15/12, 144A (d) $ 1,000,000 1,061,250
--------------
MEDIA 0.5%
Liberty Media Corp., 8.25%, due 2/01/30 5,250,000 5,053,660
Rogers Cable, 8.75%, due 5/01/32 3,000,000 3,442,500
--------------
8,496,160
--------------
--------------------------------------------------------------------------------
13
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Principal
Amount Value
------------- ---------------
TELEPHONE - INTEGRATED 0.7%
Citizens Communications Co., 9.00%,
due 8/15/31 $ 9,925,000 $ 10,111,094
---------------
TOTAL CORPORATE BONDS
(Identified cost-$20,778,547) 19,668,504
---------------
COMMERCIAL PAPER 0.1%
San Paolo U.S. Finance Co., 2.75%,
due 10/03/05 (Identified cost-$1,689,742) 1,690,000 1,689,742
---------------
TOTAL INVESTMENTS
(Identified cost $1,851,908,290) 147.8% 2,151,147,411
OTHER ASSETS IN EXCESS OF LIABILITIES 2.1% 29,916,225
LIQUIDATION VALUE OF PREFERRED SHARES (49.9)% (726,000,000)
------- ---------------
NET ASSETS APPLICABLE TO COMMON SHARES
(Equivalent to $30.16 per share based on
48,251,666 shares of common stock outstanding) 100.0% $1,455,063,636
======= ==============
--------------------------------------------------------------------------------
Note: Percentages indicated are based on the net assets applicable to common
shares of the fund.
(a) 75,000 shares segregated as collateral for interest rate swap transactions.
(b) Fair valued security. Aggregate holdings equal 2.1% of net assets applicable
to common shares.
(c) Resale is restricted. Security acquired 6/20/05 at a cost of $1,272,915;
equals 0.1% of net assets applicable to common shares.
(d) Resale is restricted to qualified institutional investors. Aggregate
holdings equal 12.0% of net assets applicable to common shares.
(e) 74,000 shares segregated as collateral for interest rate swap transactions.
--------------------------------------------------------------------------------
14
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Glossary of Portfolio Abbreviations
ADR American Depositary Receipt
CABCO Corporate Asset Backed Corporation
CBTCS Corporate Backed Trust Certificates
COPrS Canadian Origin Preferred Securities
FRN Floating Rate Note
PINES Public Income Notes
PPLUS Preferred Plus Trust
SKIS Subordinated Capital Income Securities
TOPrS Trust Originated Preferred Securities
TruPS Trust Preferred Securities
--------------------------------------------------------------------------------
15
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
--------------------------------------------------------------------------------
SCHEDULE OF INVESTMENTS--(Continued)
September 30, 2005 (Unaudited)
Interest Rate Swaps:
Unrealized
Notional Fixed Floating Rate(a) Appreciation/
Counterparty Amount Rate (reset monthly) Termination Date (Depreciation)
------------------------- -------------- ---------- ---------------- --------------------- ----------------
Merrill Lynch Derivative $43,625,000 3.320% 3.818% October 22, 2007 $ 1,008,467
Merrill Lynch Derivative $58,500,000 3.207% 3.700% October 2, 2008 2,172,863
Merrill Lynch Derivative $20,000,000 3.410% 3.740% January 13, 2009 680,850
Royal Bank of Canada $58,125,000 3.398% 3.830% August 25, 2007 1,143,162
Royal Bank of Canada $43,250,000 3.452% 3.771% September 16, 2008 1,266,756
UBS AG $58,125,000 2.832% 3.830% August 25, 2006 797,355
UBS AG $58,125,000 3.990% 3.830% August 25, 2009 1,102,520
UBS AG $58,125,000 4.397% 3.830% August 25, 2010 367,697
UBS AG $58,125,000 4.595% 3.830% August 25, 2011 (84,994)
----------------
$ 8,454,676
================
----------------------------
(a) Based on LIBOR (London Interbank Offered Rate). Represents rates in effect
at September 30, (2005.)
--------------------------------------------------------------------------------
16
--------------------------------------------------------------------------------
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 PREFERRED INCOME FUND, INC.
By: /s/ Adam M. Derechin
--------------------------------
Name: Adam M. Derechin
Title: President
Date: November 17, 2005
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/ Jay J. Chen
-------------------------------- ------------------------------------
Name: Adam M. Derechin Name: Jay J. Chen
Title: President and principal Title: Treasurer and principal
executive officer financial officer
Date: November 17, 2005