Cohen & Steers Infrastructure Fund (UTF) NPORT-P Cohen & Steers Infrastructure Fund Inc (Mar 2023 report)

COHEN & STEERS INFRASTRUCTURE FUND, INC.

SCHEDULE OF INVESTMENTS

March 31, 2023 (Unaudited)

			Shares/Units		Value
COMMON STOCK	116.2	%
AUSTRALIA	9.8	%
RAILWAYS	0.9	%
Aurizon Holdings Ltd.				8,589,984	$	19,347,747
TOLL ROADS	8.9	%
Atlas Arteria Ltd.(a)				18,125,243		76,524,467
Transurban Group(a),(b)				13,335,871		127,335,987
						203,860,454
TOTAL AUSTRALIA						223,208,201
CANADA	14.5	%
DIVERSIFIED UTILITIES	1.3	%
AltaGas Ltd.				1,709,971		28,505,843
ELECTRIC	0.7	%
Hydro One Ltd., 144A(c)				586,251		16,691,778
PIPELINES—C-CORP	8.7	%
Enbridge, Inc.(b)				2,482,869		94,666,844
Keyera Corp.				857,076		18,764,986
Pembina Pipeline Corp.				1,361,563		44,105,977
TC Energy Corp.				1,077,413		41,908,695
						199,446,502
RAILWAYS	3.6	%
Canadian National Railway Co.				688,791		81,273,771
RENEWABLE ENERGY	0.2	%
Tidewater Renewables Ltd.(d)				789,442		4,889,108
TOTAL CANADA						330,807,002
CHINA	3.6	%
GAS DISTRIBUTION	2.0	%
ENN Energy Holdings Ltd., (H shares)				3,279,821		44,910,479
MARINE PORTS	0.6	%
China Merchants Port Holdings Co., Ltd., (H shares)				5,016,000		7,700,521
COSCO SHIPPING Ports Ltd., (H shares)				8,580,000		5,737,250
						13,437,771

1

			Shares/Units		Value
TOLL ROADS	1.0	%
Jiangsu Expressway Co., Ltd., (H shares)				15,514,000	$	14,427,551
Zhejiang Expressway Co., Ltd., (H Shares)				12,350,000		9,825,677
						24,253,228
TOTAL CHINA						82,601,478
FRANCE	1.3	%
ELECTRIC
Engie SA				1,794,411		28,395,995
GERMANY	1.1	%
ELECTRIC
E.ON SE				2,080,126		25,948,983
HONG KONG	1.8	%
ELECTRIC
Power Assets Holdings Ltd.(b)				7,771,500		41,692,701
INDIA	1.4	%
ELECTRIC
Power Grid Corp of India Ltd.				11,860,086		32,622,832
ITALY	0.5	%
ELECTRIC—INTEGRATED ELECTRIC
Enel SpA				1,694,974		10,337,556
JAPAN	2.8	%
ELECTRIC	0.8	%
Kansai Electric Power Co., Inc. /The				1,889,800		18,404,609
GAS DISTRIBUTION	0.6	%
Osaka Gas Co., Ltd.				804,700		13,219,448
RAILWAYS	1.4	%
West Japan Railway Co.(b)				792,100		32,627,855
TOTAL JAPAN						64,251,912
MEXICO	2.9	%
AIRPORTS
Grupo Aeroportuario del Pacifico SAB de CV, Class B				3,394,388		66,216,937
NEW ZEALAND	1.6	%
AIRPORTS
Auckland International Airport Ltd.(b),(d)				6,665,359		36,272,765
PHILIPPINES	0.3	%
MARINE PORTS
International Container Terminal Services, Inc.				1,795,530		7,049,946

2

			Shares/Units		Value
SPAIN	3.6	%
AIRPORTS	1.6	%
Aena SME SA, 144A(c),(d)				234,282	$	37,885,337
COMMUNICATIONS	2.0	%
Cellnex Telecom SA, 144A(c)				1,158,961		45,069,245
TOTAL SPAIN						82,954,582
THAILAND	2.0	%
AIRPORTS
Airports of Thailand PCL(d)				22,244,500		46,226,622
UNITED KINGDOM	4.6	%
ELECTRIC	3.5	%
National Grid PLC				5,870,772		79,413,917
UTILITIES—WATER	1.1	%
Pennon Group PLC				2,239,838		24,201,375
TOTAL UNITED KINGDOM						103,615,292
UNITED STATES	64.4	%
COMMUNICATIONS—TOWERS	7.1	%
American Tower Corp.(b),(e)				414,678		84,735,302
Crown Castle, Inc.(b),(e)				458,121		61,314,915
SBA Communications Corp., Class A(b),(e)				62,900		16,421,303
						162,471,520
ELECTRIC	34.2	%
Alliant Energy Corp.(b),(e)				1,269,705		67,802,247
CenterPoint Energy, Inc.(b),(e),(f)				1,821,518		53,661,920
CMS Energy Corp.(b),(e)				565,740		34,725,121
Dominion Energy, Inc.(b),(e)				720,148		40,263,475
Duke Energy Corp.(b),(e),(f)				656,793		63,360,821
Entergy Corp.(b),(e),(f)				425,010		45,790,577
Evergy, Inc.(b),(e)				763,369		46,657,113
FirstEnergy Corp.(b),(e)				1,370,190		54,889,812
NextEra Energy, Inc.(b),(e)				2,186,986		168,572,881
PPL Corp.(b),(e)				2,809,339		78,071,531
Public Service Enterprise Group, Inc.(b),(e)				614,368		38,367,282
Southern Co./The(b)				1,053,554		73,306,287
Xcel Energy, Inc.				211,943		14,293,436
						779,762,503

3

			Shares/Units		Value
ENERGY—OIL & GAS STORAGE & TRANSPORTATION	1.0	%
Plains All American Pipeline LP(b),(e)				1,764,432	$	22,002,467
ENVIRONMENTAL SERVICES—ENVIROMENTAL CONTROL	0.7	%
Waste Management, Inc.(b)				93,701		15,289,192
FINANCIAL—DIVERSIFIED FINANCIAL SERVICES	1.0	%
Rice Acquisition Corp. IIb,(d)				731,336		7,733,878
Zimmer Energy Transition Acquisition Corp.(b),(d)				1,452,434		15,490,209
						23,224,087
FOOD—FOOD PRODUCTS	0.0	%
Benson Hill, Inc.(b),(d)				962,500		1,106,875
GAS DISTRIBUTION	5.7	%
NiSource, Inc.(b)				2,453,332		68,595,163
Sempra Energy(b),(e)				413,766		62,544,868
						131,140,031
PIPELINES	6.4	%
PIPELINES—C-CORP	4.8	%
Cheniere Energy, Inc.(b),(e)				282,908		44,586,301
DT Midstream, Inc.(b),(e)				631,724		31,188,214
Kinetik Holdings, Inc., Class A				440,807		13,797,259
ONEOK, Inc.(b),(e)				299,430		19,025,782
						108,597,556
PIPELINES—MLP	1.6	%
Energy Transfer LP(b)				1,606,191		20,029,202
MPLX LP(b),(e)				514,959		17,740,337
						37,769,539
TOTAL PIPELINES						146,367,095
RAILWAYS	6.2	%
Norfolk Southern Corp.(b),(e)				281,668		59,713,616
Union Pacific Corp.(b)				404,421		81,393,770
						141,107,386
RENEWABLE ENERGY	0.2	%
Stem, Inc.(b),(d),(e)				637,750		3,616,043
UTILITIES—WATER	1.9	%
American Water Works Co., Inc.(b),(e)				193,162		28,296,301

4

			Shares/Units		Value
Essential Utilities, Inc.(b),(e),(f)				324,963	$	14,184,635
						42,480,936
TOTAL UNITED STATES						1,468,568,135
TOTAL COMMON STOCK (Identified cost—$2,129,340,866)						2,650,770,939
PREFERRED SECURITIES—$25 PAR VALUE	3.5	%
BERMUDA	0.0	%
REINSURANCE
RenaissanceRe Holdings Ltd., 5.75% , Series F(b),(g)				7,000		161,840
CANADA	0.2	%
FINANCIAL	0.1	%
Brookfield BRP Holdings Canada, Inc., 4.625% (b),(g)				100,000		1,535,000
UTILITIES	0.1	%
Algonquin Power & Utilities Corp., 6.875% to 10/17/23, due 10/17/78(b),(h)				29,974		688,203
Algonquin Power & Utilities Corp., 6.20% to 7/1/24, due 7/1/79, Series 19-A(b),(h)				89,073		2,068,275
						2,756,478
TOTAL CANADA						4,291,478
NETHERLANDS	0.1	%
INSURANCE
AEGON Funding Co. LLC, 5.10% , due 12/15/49(b)				65,287		1,409,546
UNITED STATES	3.2	%
BANKS	0.7	%
Bank of America Corp., 6.00% , Series GG(b),(g)				184,373		4,537,420
KeyCorp., 6.20% to 12/15/27(b),(g),(h)				45,600		1,018,248
Regions Financial Corp., 5.70% to 5/15/29, Series C(b),(g),(h)				81,114		1,737,462
Wells Fargo & Co., 4.70% , Series AA(b),(g)				142,405		2,690,030
Wells Fargo & Co., 4.375% , Series CC(b),(g)				58,968		1,037,247
Wells Fargo & Co., 4.75% , Series Z(b),(g)				206,575		3,968,306
						14,988,713
CONSUMER CYCLICAL	0.1	%
Ford Motor Co., 6.50% , due 8/15/62(b)				144,325		3,528,746
ELECTRIC	0.5	%
CMS Energy Corp., 5.875% , due 3/1/79(b)				99,975		2,428,393
Duke Energy Corp., 5.75% , Series A(b),(g)				141,350		3,597,357

5

			Shares/Units		Value
Southern Co./The, 4.95% , due 1/30/80, Series 2020(b)				230,000	$	5,198,000
						11,223,750
FINANCIAL	0.5	%
DIVERSIFIED FINANCIAL SERVICES	0.3	%
Apollo Asset Management, Inc., 6.375%, Series A(b),(g)				57,982		1,223,420
Apollo Asset Management, Inc., 6.375%, Series B(b),(g)				6,321		141,590
Carlyle Finance LLC, 4.625%, due 5/15/61(b)				70,000		1,288,000
Oaktree Capital Group LLC, 6.625%, Series A(b),(g)				100,000		2,117,000
Oaktree Capital Group LLC, 6.55%, Series B(b),(g)				66,071		1,375,598
Synchrony Financial, 5.625%, Series A(b),(g)				78,390		1,335,766
						7,481,374
INVESTMENT BANKER/BROKER	0.2	%
Morgan Stanley, 6.375% to 10/15/24, Series I(b),(g),(h)				118,969		2,930,207
TOTAL FINANCIAL						10,411,581
INDUSTRIALS—CHEMICALS	0.3	%
CHS, Inc., 7.10% to 3/31/24, Series 2(b),(g),(h)				135,283		3,391,545
CHS, Inc., 6.75% to 9/30/24, Series 3(b),(g),(h)				137,935		3,448,375
						6,839,920
INSURANCE	0.4	%
LIFE/HEALTH INSURANCE	0.2	%
Athene Holding Ltd., 6.35% to 6/30/29, Series A(b),(g),(h)				115,223		2,506,100
Athene Holding Ltd., 4.875% , Series D(b),(g)				55,443		872,673
Equitable Holdings, Inc., 5.25% , Series A(b),(g)				52,000		1,138,280
Voya Financial, Inc., 5.35% to 9/15/29, Series B(b),(g),(h)				45,010		1,044,232
						5,561,285
MULTI-LINE	0.0	%
American International Group, Inc., 5.85% , Series A(g)				516		12,054
PROPERTY CASUALTY	0.1	%
Enstar Group Ltd., 7.00% to 9/1/28, Series D(b),(g),(h)				77,050		1,718,215
REINSURANCE	0.1	%
Arch Capital Group Ltd., 5.45% , Series F(b),(g)				80,000		1,840,800
TOTAL INSURANCE						9,132,354
INTEGRATED TELECOMMUNICATIONS SERVICES	0.2	%
AT&T, Inc., 5.00% , Series A(b),(g)				13,078		296,347
AT&T, Inc., 4.75% , Series C(b),(g)				182,869		3,889,624

6

			Shares/Units		Value
United States Cellular Corp., 5.50% , due 6/1/70(b)				94,315	$	1,609,957
						5,795,928
PIPELINES	0.3	%
Energy Transfer LP, 7.375% to 5/15/23, Series C(b),(g),(h)				109,692		2,629,317
Energy Transfer LP, 7.625% to 8/15/23, Series D(b),(g),(h)				89,991		2,099,490
Energy Transfer LP, 7.60% to 5/15/24, Series E(b),(g),(h)				113,416		2,742,399
						7,471,206
UTILITIES	0.2	%
NiSource, Inc., 6.50% to 3/15/24, Series B(b),(g),(h)				40,519		972,456
Sempra Energy, 5.75% , due 7/1/79(b)				99,837		2,469,967
Spire, Inc., 5.90% , Series A(b),(g)				76,071		1,829,508
						5,271,931
TOTAL UNITED STATES						74,664,129
TOTAL PREFERRED SECURITIES—$25 PAR VALUE (Identified cost—$88,459,285)						80,526,993
			Principal Amount
PREFERRED SECURITIES—CAPITAL SECURITIES	19.2	%
AUSTRALIA	0.5	%
BANKS	0.2	%
Australia & New Zealand Banking Group Ltd./United Kingdom, 6.75% to 6/15/26, 144A(b),(c),(g),(h),(i)			$	4,000,000		3,844,042
Macquarie Bank Ltd./London, 6.125% to 3/8/27, 144A(c),(g),(h),(i)				1,000,000		862,725
						4,706,767
INSURANCE—PROPERTY CASUALTY	0.3	%
QBE Insurance Group Ltd., 5.875% to 6/17/26, due 6/17/46, Series EMTN(h),(j)				1,800,000		1,701,891
QBE Insurance Group Ltd., 6.75% to 12/2/24, due 12/2/44(h),(j)				5,155,000		5,095,009
						6,796,900
TOTAL AUSTRALIA						11,503,667
CANADA	2.0	%
BANKS	0.4	%
Bank of Nova Scotia/The, 4.90% to 6/4/25(b),(g),(h)				2,000,000		1,825,000

7

			Principal Amount		Value
Bank of Nova Scotia/The, 8.625% to 10/27/27, due 10/27/82(b),(h)			$	3,400,000	$	3,465,398
Toronto-Dominion Bank/The, 8.125% to 10/31/27, due 10/31/82(b),(h)				3,200,000		3,256,000
						8,546,398
ELECTRIC	0.3	%
Emera, Inc., 6.75% to 6/15/26, due 6/15/76, Series 16-A(b),(e),(h)				7,268,000		6,799,464
PIPELINES	1.3	%
Enbridge, Inc., 5.75% to 4/15/30, due 7/15/80, Series 20-A(b),(h)				5,980,000		5,334,566
Enbridge, Inc., 6.00% to 1/15/27, due 1/15/77, Series 16-A(b),(h)				4,155,000		3,840,057
Enbridge, Inc., 6.25% to 3/1/28, due 3/1/78(b),(h)				5,913,000		5,381,758
Enbridge, Inc., 7.375% to 10/15/27, due 1/15/83(b),(h)				3,985,000		3,819,742
Enbridge, Inc., 7.625% to 10/15/32, due 1/15/83(b),(h)				1,920,000		1,877,735
Transcanada Trust, 5.50% to 9/15/29, due 9/15/79(b),(h)				5,008,000		4,196,363
Transcanada Trust, 5.875% to 8/15/26, due 8/15/76, Series 16-A(b),(e),(h)				6,499,000		6,066,881
						30,517,102
TOTAL CANADA						45,862,964
FINLAND	0.1	%
BANKS
Nordea Bank Abp, 6.625% to 3/26/26, 144A(b),(c),(g),(h),(i)				1,400,000		1,319,094
FRANCE	1.8	%
BANKS	1.7	%
BNP Paribas SA, 6.625% to 3/25/24, 144A(b),(c),(g),(h),(i)				1,660,000		1,567,156
BNP Paribas SA, 7.00% to 8/16/28, 144A(b),(c),(g),(h),(i)				1,000,000		914,020
BNP Paribas SA, 7.375% to 8/19/25, 144A(b),(c),(g),(h),(i)				6,200,000		5,899,858
BNP Paribas SA, 7.75% to 8/16/29, 144A(b),(c),(g),(h),(i)				3,200,000		3,071,040
BNP Paribas SA, 9.25% to 11/17/27, 144A(b),(c),(g),(h),(i)				5,200,000		5,293,614
Credit Agricole SA, 6.875% to 9/23/24, 144A(b),(c),(g),(h),(i)				2,600,000		2,423,419
Credit Agricole SA, 7.875% to 1/23/24, 144A(b),(c),(g),(h),(i)				5,600,000		5,510,338
Credit Agricole SA, 8.125% to 12/23/25, 144A(b),(c),(g),(h),(i)				3,950,000		3,829,146
Societe Generale SA, 6.75% to 4/6/28, 144A(b),(c),(g),(h),(i)				3,400,000		2,720,404
Societe Generale SA, 7.875% to 12/18/23, 144A(b),(c),(g),(h),(i)				5,400,000		5,070,060
Societe Generale SA, 8.00% to 9/29/25, 144A(b),(c),(g),(h),(i)				1,800,000		1,684,125

8

			Principal Amount		Value
Societe Generale SA, 9.375% to 11/22/27, 144A(b),(c),(g),(h),(i)			$	2,400,000	$	2,277,000
						40,260,180
INSURANCE—FINANCE	0.1	%
CNP Assurances, 4.875% to 10/7/30(g),(h),(i),(j)				2,200,000		1,608,717
TOTAL FRANCE						41,868,897
GERMANY	0.1	%
BANKS
Dresdner Funding Trust I, 8.151% , due 6/30/31, 144A (TruPS)(b),(c)				2,500,000		2,562,500
ITALY	0.1	%
BANKS
Intesa Sanpaolo SpA, 7.70% to 9/17/25, 144A(b),(c),(g),(h),(i)				2,900,000		2,668,000
JAPAN	0.5	%
INSURANCE—LIFE/HEALTH INSURANCE
Dai-ichi Life Insurance Co., Ltd./The, 5.10% to 10/28/24, 144A(b),(c),(g),(h)				2,000,000		1,949,973
Fukoku Mutual Life Insurance Co., 5.00% to 7/28/25(g),(h),(j)				2,800,000		2,712,500
Nippon Life Insurance Co., 5.10% to 10/16/24, due 10/16/44, 144A(b),(c),(h)				5,600,000		5,397,700
						10,060,173
NETHERLANDS	0.5	%
BANKS	0.4	%
ING Groep N.V., 5.75% to 11/16/26(b),(g),(h),(i)				5,000,000		4,329,975
ING Groep N.V., 6.50% to 4/16/25(b),(g),(h),(i)				2,600,000		2,345,276
ING Groep N.V., 6.75% to 4/16/24(g),(h),(i),(j)				2,400,000		2,219,796
						8,895,047
INSURANCE—MULTI-LINE	0.1	%
Aegon NV, 5.50% to 4/11/28, due 4/11/48(b),(h)				2,875,000		2,724,939
TOTAL NETHERLANDS						11,619,986
SPAIN	0.2	%
BANKS
Banco Bilbao Vizcaya Argentaria SA, 6.50% to 3/5/25, Series 9(b),(g),(h),(i)				3,800,000		3,458,000
Banco Santander SA, 7.50% to 2/8/24(g),(h),(i),(j)				1,200,000		1,147,663
						4,605,663

9

			Principal Amount		Value
SWITZERLAND	1.0	%
BANKS	0.5	%
Credit Suisse Group AG, 5.25% to 2/11/27, 144A(c),(d),(g),(h),(i),(k)			$	1,600,000	$	92,000
Credit Suisse Group AG, 6.375% to 8/21/26, 144A(c),(d),(g),(h),(i),(k)				2,000,000		115,000
Credit Suisse Group AG, 7.25% to 9/12/25, 144A(c),(d),(g),(h),(i),(k)				1,200,000		69,000
Credit Suisse Group AG, 7.50% to 7/17/23, 144A(c),(d),(g),(h),(i),(k)				3,600,000		207,000
UBS Group AG, 6.875% to 8/7/25(g),(h),(i),(j)				5,400,000		4,887,000
UBS Group AG, 7.00% to 1/31/24, 144A(b),(c),(e),(g),(h),(i)				5,400,000		5,136,534
						10,506,534
INSURANCE	0.5	%
FINANCE	0.1	%
Zurich Finance Ireland Designated Activity Co., 3.00% to 1/19/31, due 4/19/51, Series EMTN(h),(j)				3,600,000		2,748,528
LIFE/HEALTH INSURANCE	0.1	%
Argentum Netherlands BV for Swiss Re Ltd., 5.625% to 8/15/27, due 8/15/52(h),(j)				3,700,000		3,461,831
MULTI-LINE	0.3	%
Argentum Netherlands BV for Zurich Insurance Co. Ltd., 5.125% to 6/1/28, due 6/1/48(h),(j)				7,000,000		6,573,273
TOTAL INSURANCE						12,783,632
TOTAL SWITZERLAND						23,290,166
UNITED KINGDOM	2.6	%
BANKS	1.5	%
Barclays PLC, 8.00% to 6/15/24(b),(g),(h),(i)				5,000,000		4,512,500
Barclays PLC, 8.00% to 3/15/29(b),(g),(h),(i)				4,400,000		3,767,500
HSBC Capital Funding Dollar 1 LP, 10.176% to 6/30/30, 144A(b),(c),(e),(g),(h)				7,566,000		9,108,789
HSBC Holdings PLC, 6.50% to 3/23/28(b),(g),(h),(i)				2,800,000		2,456,757
Lloyds Banking Group PLC, 7.50% to 6/27/24(b),(g),(h),(i)				4,534,000		4,289,663
Lloyds Banking Group PLC, 7.50% to 9/27/25(b),(g),(h),(i)				3,400,000		3,163,088
Natwest Group PLC, 6.00% to 12/29/25(b),(g),(h),(i)				2,000,000		1,829,200
Natwest Group PLC, 8.00% to 8/10/25(b),(g),(h),(i)				6,000,000		5,937,000
						35,064,497
INSURANCE	0.3	%
Beazley Insurance DAC, 5.50% , due 9/10/29(j)				2,600,000		2,367,300
Lancashire Holdings Ltd., 5.625% to 3/18/31, due 9/18/41(h),(j)				1,300,000		1,069,592

10

			Principal Amount			Value
Phoenix Group Holdings PLC, 5.625% to 1/29/25(g),(h),(i),(j)			$	4,400,000		$	3,717,076
							7,153,968
INTEGRATED TELECOMMUNICATIONS SERVICES	0.5	%
Vodafone Group PLC, 4.125% to 3/4/31, due 6/4/81(b),(h)				2,090,000			1,652,668
Vodafone Group PLC, 6.25% to 7/3/24, due 10/3/78(h),(j)				5,731,000			5,579,415
Vodafone Group PLC, 7.00% to 1/4/29, due 4/4/79(b),(h)				4,500,000			4,482,427
							11,714,510
OIL & GAS	0.3	%
BP Capital Markets PLC, 4.375% to 6/22/25(b),(g),(h)				3,000,000			2,864,741
BP Capital Markets PLC, 4.875% to 3/22/30(b),(g),(h)				3,550,000			3,237,156
							6,101,897
TOTAL UNITED KINGDOM							60,034,872
UNITED STATES	9.8	%
BANKS	5.6	%
AgriBank FCB, 6.875% to 1/1/24(b),(g),(h)				37,000	†		3,718,500
Ally Financial, Inc., 4.70% to 5/15/28, Series C(b),(g),(h)				1,936,000			1,296,152
Bank of America Corp., 5.875% to 3/15/28, Series FF(b),(g),(h)				2,682,000			2,416,482
Bank of America Corp., 6.10% to 3/17/25, Series AA(b),(g),(h)				7,429,000			7,301,444
Bank of America Corp., 6.25% to 9/5/24, Series X(b),(g),(h)				7,423,000			7,265,261
Bank of America Corp., 6.30% to 3/10/26, Series DD(b),(g),(h)				6,000,000			6,022,500
Bank of America Corp., 6.50% to 10/23/24, Series Z(b),(g),(h)				6,806,000			6,806,000
Bank of New York Mellon Corp./The, 4.625% to 9/20/26, Series F(b),(g),(h)				3,500,000			3,138,954
Citigroup, Inc., 3.875% to 2/18/26(b),(g),(h)				3,250,000			2,752,750
Citigroup, Inc., 4.15% to 11/15/26, Series Y(b),(g),(h)				2,310,000			1,894,200
Citigroup, Inc., 5.00% to 9/12/24, Series U(b),(g),(h)				4,704,000			4,410,000
Citigroup, Inc., 5.95% to 5/15/25, Series P(b),(e),(g),(h)				6,000,000			5,599,173
Citigroup, Inc., 6.25% to 8/15/26, Series T(b),(e),(g),(h)				7,850,000			7,536,000
Citigroup, Inc., 9.094% (3 Month US LIBOR + 4.23%), Series B (FRN)((b),(e),(g),(l)				5,675,000			5,653,719
Citizens Financial Group, Inc., 5.65% to 10/6/25, Series F(b),(g),(h)				2,000,000			1,730,864
Citizens Financial Group, Inc., 6.375% to 4/6/24, Series C(b),(g),(h)				800,000			692,000
CoBank ACB, 6.25% to 10/1/26, Series I(b),(e),(g),(h)				2,866,000			2,708,762
Comerica, Inc., 5.625% to 7/1/25(b),(g),(h)				1,997,000			1,679,078
Farm Credit Bank of Texas, 6.75% to 9/15/23, 144A(b),(c),(g),(h),(m)				35,300	†		3,525,587
First Horizon Bank, 5.66% (3 Month US LIBOR + 0.85%, Floor 3.75%), 144A (FRN)(b),(c),(g),(l)				1,806	†		1,508,010

11

			Principal Amount		Value
Goldman Sachs Group, Inc./The, 3.65% to 8/10/26, Series U(b),(g),(h)			$	4,170,000	$	3,414,188
Goldman Sachs Group, Inc./The, 4.125% to 11/10/26, Series V(b),(g),(h)				1,000,000		830,006
Goldman Sachs Group, Inc./The, 5.30% to 11/10/26, Series O(b),(g),(h)				1,645,000		1,542,387
Goldman Sachs Group, Inc./The, 5.50% to 8/10/24, Series Q(b),(g),(h)				1,000,000		968,520
Huntington Bancshares, Inc./OH., 4.45% to 10/15/27, Series G(b),(g),(h)				1,000,000		833,750
Huntington Bancshares, Inc./OH., 5.625% to 7/15/30, Series F(b),(g),(h)				894,000		764,370
JPMorgan Chase & Co., 5.00% to 8/1/24, Series FF(b),(g),(h)				1,043,000		1,002,036
JPMorgan Chase & Co., 6.10% to 10/1/24, Series X(b),(g),(h)				2,500,000		2,443,750
JPMorgan Chase & Co., 6.125% to 4/30/24, Series U(b),(g),(h)				1,436,000		1,405,126
JPMorgan Chase & Co., 6.75% to 2/1/24, Series S(b),(g),(h)				8,790,000		8,826,083
PNC Financial Services Group, Inc./The, 6.20% to 9/15/27, Series V(b),(g),(h)				4,450,000		4,197,907
PNC Financial Services Group, Inc./The, 8.492% (3 Month US LIBOR + 3.678%), Series O (FRN)(b),(g),(l)				1,000,000		989,904
Truist Financial Corp., 4.80% to 9/1/24, Series N(b),(g),(h)				1,810,000		1,588,275
Truist Financial Corp., 5.10% to 3/1/30, Series Q(b),(g),(h)				2,109,000		1,857,090
Truist Financial Corp., 5.125% to 12/15/27, Series M(b),(g),(h)				500,000		425,000
US Bancorp, 5.30% to 4/15/27, Series J(b),(g),(h)				1,500,000		1,280,253
Wells Fargo & Co., 3.90% to 3/15/26, Series BB(b),(g),(h)				7,400,000		6,536,679
Wells Fargo & Co., 5.875% to 6/15/25, Series U(b),(g),(h)				7,521,000		7,408,185
Wells Fargo & Co., 5.95% , due 12/15/36(b)				2,830,000		2,908,474
						126,877,419
ELECTRIC	1.1	%
American Electric Power Co., Inc., 3.875% to 11/15/26, due 2/15/62(b),(h)				4,200,000		3,366,976
CenterPoint Energy, Inc., 6.125% to 9/1/23, Series A(b),(g),(h)				1,960,000		1,855,875
CMS Energy Corp., 4.75% to 3/1/30, due 6/1/50(b),(h)				1,125,000		974,790
Dominion Energy, Inc., 4.35% to 1/15/27, Series C(b),(g),(h)				8,000,000		6,658,014
Duke Energy Corp., 4.875% to 9/16/24(b),(g),(h)				3,580,000		3,444,318
Southern Co./The, 4.00% to 10/15/25, due 1/15/51, Series B(b),(h)				3,000,000		2,759,812
Southern Co./The, 5.113% , due 8/1/27(b)				6,000,000		6,017,777
						25,077,562

12

			Principal Amount		Value
FINANCIAL	0.7	%
CREDIT CARD	0.3	%
Discover Financial Services, 6.125% to 6/23/25, Series D(b),(g),(h)			$	7,200,000	$	6,663,843
INVESTMENT BANKER/BROKER	0.4	%
Charles Schwab Corp./The, 4.00% to 6/1/26, Series I(b),(e),(g),(h)				6,983,000		5,701,759
Charles Schwab Corp./The, 5.375% to 6/1/25, Series G(b),(g),(h)				2,936,000		2,796,540
						8,498,299
TOTAL FINANCIAL						15,162,142
INFRASTRUCTURE—GAS—DISTRIBUTION	0.2	%
Sempra Energy, 4.875% to 10/15/25(b),(g),(h)				5,780,000		5,427,788
INSURANCE	1.9	%
LIFE/HEALTH INSURANCE	1.5	%
Corebridge Financial, Inc., 6.875% to 9/15/27, due 12/15/52, 144A(b),(c),(h)				7,170,000		6,405,696
MetLife Capital Trust IV, 7.875% , due 12/15/37, 144A (TruPS)(b),(c),(e)				5,850,000		6,126,722
MetLife, Inc., 9.25% , due 4/8/38, 144A(b),(c)				6,500,000		7,678,532
Prudential Financial, Inc., 5.625% to 6/15/23, due 6/15/43(b),(e),(h)				9,275,000		9,143,944
Prudential Financial, Inc., 6.00% to 6/1/32, due 9/1/52(b),(h)				4,500,000		4,220,100
Voya Financial, Inc., 5.65% to 5/15/23, due 5/15/53(b),(h)				1,396,000		1,349,534
Voya Financial, Inc., 6.125% to 9/15/23, Series A(b),(g),(h)				1,310,000		1,252,141
						36,176,669
MULTI-LINE	0.1	%
MetLife, Inc., 10.75% , due 8/1/39(b)				1,000,000		1,299,392
PROPERTY CASUALTY	0.2	%
Assurant, Inc., 7.00% to 3/27/28, due 3/27/48(b),(h)				3,200,000		3,004,568
Liberty Mutual Group, Inc., 7.80% , due 3/15/37, 144A(b),(c)				1,680,000		1,767,923
						4,772,491
REINSURANCE	0.1	%
AXIS Specialty Finance LLC, 4.90% to 1/15/30, due 1/15/40(b),(h)				1,760,000		1,429,083
TOTAL INSURANCE						43,677,635

13

			Principal Amount		Value
PIPELINES	0.1	%
Energy Transfer LP, 7.125% to 5/15/30, Series G(b),(g),(h)			$	1,857,000	$	1,566,380
REAL ESTATE	0.1	%
VICI Properties LP/VICI Note Co., Inc., 5.75% , due 2/1/27, 144A(b),(c)				1,700,000		1,670,457
UTILITIES	0.1	%
NextEra Energy Capital Holdings, Inc., 5.65% to 5/1/29, due 5/1/79(b),(h)				3,438,000		3,042,858
TOTAL UNITED STATES						222,502,241
TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES (Identified cost—$466,506,105)						437,898,223
CORPORATE BONDS	0.3	%
ITALY	0.1	%
ELECTRIC
Enel Finance America LLC, 7.10%, due 10/14/27, 144A (USD)(b),(c)				600,000		645,340
Enel Finance International NV, 7.50%, due 10/14/32, 144A (USD)(b),(c)				400,000		446,110
						1,091,450
UNITED STATES	0.2	%
ELECTRIC	0.1	%
American Electric Power Co., Inc., 5.75%, due 11/1/27(b)				1,015,000		1,056,061
Southern California Edison Co., 5.85%, due 11/1/27(b)				1,000,000		1,054,422
						2,110,483
REAL ESTATE	0.1	%
Spirit Realty LP, 3.40%, due 1/15/30(b)				3,060,000		2,633,385
TOTAL UNITED STATES						4,743,868
TOTAL CORPORATE BONDS (Identified cost—$5,613,963)						5,835,318
			Number of Shares
SHORT-TERM INVESTMENTS	1.3	%
MONEY MARKET FUNDS
State Street Institutional Treasury Money Market Fund, Premier Class, 4.53%(n)				30,214,361		30,214,361

14

			Value
TOTAL SHORT-TERM INVESTMENTS (Identified cost—$30,214,361)			$	30,214,361
TOTAL INVESTMENTS IN SECURITIES (Identified cost—$2,720,134,580)	140.5	%		3,205,245,834
WRITTEN OPTION CONTRACTS (Premiums received—$707,367)	(0.0	)		(457,969	)
LIABILITIES IN EXCESS OF OTHER ASSETS	(40.5	)		(924,235,087	)
NET ASSETS (Equivalent to $23.72 per share based on 96,129,786 shares of common stock outstanding)	100.0	%	$	2,280,552,778

Exchange-Traded Option Contracts

Written Options
Description	Exercise Price		Expiration Date		Number of Contracts			Notional Amount(o)			Premiums Received			Value
Call — American Water Works Co Inc	$	150.00		4/21/23		(785	)	$	(11,499,465	)	$	(115,842	)	$	(86,350	)
Call — Energy Corp.		110.00		4/21/23		(934	)		(10,062,916	)		(87,395	)		(84,060	)
Call — Cheniere Energy		170.00		5/19/23		(408	)		(6,430,080	)		(101,008	)		(105,672	)
Put — Constellation Energy Corp.		75.00		4/21/23		(1,227	)		(9,631,950	)		(221,556	)		(129,252	)
Put — Nextera Energy Inc		70.00		4/21/23		(753	)		(5,804,124	)		(86,271	)		(26,355	)
Put — Sempra Energy		140.00		4/21/23		(438	)		(6,620,808	)		(95,295	)		(26,280	)
						(4,545	)	$	(50,049,343	)	$	(707,367	)	$	(457,969	)

15

Centrally Cleared Interest Rate Swap Contracts
Notional Amount		Fixed Rate Payable		Fixed Payment Frequency	Floating Rate Receivable (resets monthly)		Floating Payment Frequency	Maturity Date	Value		Upfront Receipts (Payments)			Unrealized Appreciation (Depreciation)
	$255,000,000		0.670%	Monthly		4.778%(p)	Monthly	9/15/25	$	20,295,748	$	—		$	20,295,748
	212,500,000		1.240%	Monthly		4.673%(p)	Monthly	2/3/26		15,690,669		(49,838	)		15,640,831
	85,000,000		0.898%	Monthly		4.662%(p)	Monthly	5/1/26		7,468,452		—			7,468,452
	255,000,000		1.237%	Monthly		4.709%(p)	Monthly	9/15/27		24,634,099		—			24,634,099
									$	68,088,968	$	(49,838	)	$	68,039,130

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 three months ended March 31, 2023.

Glossary of Portfolio Abbreviations

EMTN	Euro Medium Term Note
FRN	Floating Rate Note
LIBOR	London Interbank Offered Rate
MLP	Master Limited Partnership
TruPS	Trust Preferred Securities
USD	United States Dollar

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

† Represents shares.

(a) Stapled security. A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

(b) All or a portion of the security is pledged as collateral in connection with the Fund’s revolving credit agreement. $2,088,970,158 in aggregate has been pledged as collateral.

(c) 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 $203,013,274 which represents 8.9% of the net assets of the Fund, of which 0.0% are illiquid.

(d) Non-income producing security.

(e) A portion of the security has been rehypothecated in connection with the Fund’s revolving credit agreement. $883,774,265 in aggregate has been rehypothecated.

(f) All or a portion of the security is pledged in connection with written option contracts. $28,574,350 in aggregate has been pledged as collateral.

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

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

16

(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 $104,242,786 which represents 4.6% of the net assets of the Fund (3.2% 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 $44,889,591 which represents 2.0% of the net assets of the Fund, of which 0.0% are illiquid.

(k) Security is in default.

(l) Variable rate. Rate shown is in effect at March 31, 2023.

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

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

(o) Represents the number of contracts multiplied by notional contract size multiplied by the underlying price.

(p) Based on 1-Month LIBOR. Represents rates in effect at March 31, 2023.

17

Sector Summary	% of Managed Assets
Electric		33.4
Pipelines		11.9
Railways		8.5
Banks		8.1
Toll Roads		7.1
Communications		6.4
Gas Distributions		5.9
Airports		5.8
Insurance		2.9
Utilities		2.4
Financial		1.6
Diversified Utilities		0.9
Energy		0.7
Marine Ports		0.6
Integrated Telecommunications Services		0.5
Environmental Services		0.5
Other		2.8
		100.0

18

COHEN & STEERS INFRASTRUCTURE FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Note 1. 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 based upon prices provided by a third-party pricing service or counterparty. Over-the-counter (OTC) options are valued based upon prices provided by a third-party pricing service or counterparty.

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).

The Board of Directors has designated the investment manager as the Fund’s “Valuation Designee” under Rule 2a-5 under the 1940 Act. As Valuation Designee, the investment manager is authorized to make fair valuation determinations, 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

COHEN & STEERS INFRASTRUCTURE FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

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.

Foreign equity fair value pricing procedures utilized by the Fund may cause certain non-U.S. equity holdings to be fair valued on the basis of fair value factors provided by a pricing service to reflect any significant market movements between the time the Fund values such securities and the earlier closing of foreign 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 INFRASTRUCTURE FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

The following is a summary of the inputs used as of March 31, 2023 in valuing the Fund’s investments carried at value:

	Quoted Prices in Active Markets for Identical Investments (Level  1)			Other Significant Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
Common Stock:
Canada	$	330,807,002		$	—		$	—		$	330,807,002
Mexico		66,216,937			—			—			66,216,937
United States		1,445,344,048			23,224,087			—			1,468,568,135
Other Countries		—			785,178,865			—			785,178,865
Preferred Securities—$25 Par Value		80,526,993			—			—			80,526,993
Preferred Securities—Capital Securities:
United States		—			218,976,654			3,525,587(a	)		222,502,241
Other Countries		—			215,395,982			—			215,395,982
Corporate Bonds		—			5,835,318			—			5,835,318
Short-Term Investments		—			30,214,361			—			30,214,361
Total Investments in Securities(b)	$	1,922,894,980		$	1,278,825,267		$	3,525,587		$	3,205,245,834
Interest Rate Swap Contracts	$	—		$	68,039,130		$	—		$	68,039,130
Total Derivative Assets(b)	$	—		$	68,039,130		$	—		$	68,039,130
Written Option Contracts	$	(328,717	)	$	(129,252	)	$	—		$	(457,969	)
Total Derivative Liabilities(b)	$	(328,717	)	$	(129,252	)	$	—		$	(457,969	)

(a) 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.

(b) 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:

	Preferred Securities— Capital Securities— Banks
Balance as of December 31, 2022	$	—
Transfer in of Level 3(a)		3,525,587
Balance as of March 31, 2023	$	3,525,587

(a) Transfers from Level 2 to Level 3 are due to a decrease in market activity (e.g. frequency of trades), which resulted in a lack of available market inputs to determine prices.

COHEN & STEERS INFRASTRUCTURE FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

Note 2. Derivative Investments

Option Contracts: The Fund may purchase and write exchange-listed and OTC put or call options on securities, stock indices and other financial instruments for hedging purposes, to enhance portfolio returns and/or 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

COHEN & STEERS INFRASTRUCTURE FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

depending on the size and risk profile of the particular 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 option contracts activity for the three months ended March 31, 2023:

	Purchased Option Contracts		Written Option Contracts
Average Notional Amount(a),(b)	$	6,244,983	$	28,416,273

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

(b) 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 January 1, 2023 through January 20, 2023 for purchased options and three months for written option contracts.