0001752724-24-216957.txt : 20240925 0001752724-24-216957.hdr.sgml : 20240925 20240925143412 ACCESSION NUMBER: 0001752724-24-216957 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240731 FILED AS OF DATE: 20240925 DATE AS OF CHANGE: 20240925 PERIOD START: 20241031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Duff & Phelps Utility & Infrastructure Fund Inc. CENTRAL INDEX KEY: 0001515671 ORGANIZATION NAME: IRS NUMBER: 452261437 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-22533 FILM NUMBER: 241322966 BUSINESS ADDRESS: STREET 1: 10 SOUTH WACKER DRIVE STREET 2: SUITE 1900 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: (866) 270-7598 MAIL ADDRESS: STREET 1: 10 SOUTH WACKER DRIVE STREET 2: SUITE 1900 CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: Duff & Phelps Global Utility Income Fund Inc. DATE OF NAME CHANGE: 20110627 FORMER COMPANY: FORMER CONFORMED NAME: Duff & Phelps Global Utility & Midstream Energy Income Fund Inc. DATE OF NAME CHANGE: 20110316 NPORT-P 1 primary_doc.xml NPORT-P false 0001515671 XXXXXXXX Duff & Phelps Utility & Infrastructure Fund Inc. 811-22533 0001515671 549300SY2NYDO23RIE89 10 South Wacker Drive Suite 1900 Chicago 60606-5802 866-270-7598 Duff & Phelps Utility & Infrastructure Fund Inc. 549300SY2NYDO23RIE89 2024-10-31 2024-07-31 N 614944729.15 164479409.82 450465319.33 0.00000000 0.00000000 125000000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 35000000.00000000 2069039.10000000 N EnLink Midstream LLC 54930000GY1H533OBE23 EnLink Midstream LLC 29336T100 294000.00000000 NS USD 4018980.00000000 0.892184109972 Long EC CORP US N 1 N N N Transurban Group 549300ZR71SUQ4VUTM79 Transurban Group 000000000 1033000.00000000 NS 8788649.85000000 1.951015865787 Long EC CORP AU N 1 N N N AT&T Inc 549300Z40J86GGSTL398 AT&T Inc 00206R102 495000.00000000 NS USD 9528750.00000000 2.115312675828 Long EC CORP US N 1 N N N Targa Resources Corp 5493003QENHHS261UR94 Targa Resources Corp 87612G101 150300.00000000 NS USD 20332584.00000000 4.513684656177 Long EC CORP US N 1 N N N Grupo Aeroportuario del Centro 529900HUSBARAFSXJ605 Grupo Aeroportuario del Centro Norte SAB de CV 400501102 34000.00000000 NS USD 2344300.00000000 0.520417421586 Long EC CORP MX N 1 N N N Edison International 549300I7ROF15MAEVP56 Edison International 281020107 220600.00000000 NS USD 17650206.00000000 3.918216395937 Long EC CORP US N 1 N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 Energy Transfer LP 29273V100 1243185.00000000 NS USD 20226619.95000000 4.490161413554 Long EC CORP US N 1 N N N National Grid PLC 8R95QZMKZLJX5Q2XR704 National Grid PLC 000000000 581250.00000000 NS 7367647.74000000 1.635563810097 Long EC CORP GB N 1 N N N Alliant Energy Corp 5493009ML300G373MZ12 Alliant Energy Corp 018802108 289990.00000000 NS USD 16140843.40000000 3.583148958949 Long EC CORP US N 1 N N N Redeia Corp SA 5493009HMD0C90GUV498 Redeia Corp SA 000000000 230000.00000000 NS 4074779.47000000 0.904571183428 Long EC CORP ES N 1 N N N Evergy Inc 549300PGTHDQY6PSUI61 Evergy Inc 30034W106 268000.00000000 NS USD 15544000.00000000 3.450654097660 Long EC CORP US N 1 N N N Iberdrola SA 5QK37QC7NWOJ8D7WVQ45 Iberdrola SA 000000000 633000.00000000 NS 8344082.56000000 1.852325185079 Long EC CORP ES N 1 N N N Canadian Pacific Kansas City L N/A Canadian Pacific Kansas City Ltd 13646K108 48700.00000000 NS 4083935.83000000 0.906603828253 Long EC CORP CA N 1 N N N NiSource Inc 549300D8GOWWH0SJB189 NiSource Inc 65473P105 576000.00000000 NS USD 18000000.00000000 3.995868100739 Long EC CORP US N 1 N N N PPL Corp 9N3UAJSNOUXFKQLF3V18 PPL Corp 69351T106 530235.00000000 NS USD 15758584.20000000 3.498290217643 Long EC CORP US N 1 N N N Duke Energy Corp I1BZKREC126H0VB1BL91 Duke Energy Corp 26441C204 250300.00000000 NS USD 27350281.00000000 6.071561966341 Long EC CORP US N 1 N N N DTE Energy Co 549300IX8SD6XXD71I78 DTE Energy Co 233331107 179000.00000000 NS USD 21574870.00000000 4.789463045032 Long EC CORP US N 1 N N N Atmos Energy Corp QVLWEGTD2S8GJMO8D383 Atmos Energy Corp 049560105 111800.00000000 NS USD 14296984.00000000 3.173825683465 Long EC CORP US N 1 N N N Enel SpA WOCMU6HCI0OJWNPRZS33 Enel SpA 000000000 900000.00000000 NS 6422720.85000000 1.425796964692 Long EC CORP IT N 1 N N N Pennon Group PLC 213800V1CCTS41GWH423 Pennon Group PLC 000000000 430000.00000000 NS 3427276.30000000 0.760830224421 Long EC CORP GB N 1 N N N ONEOK Inc 2T3D6M0JSY48PSZI1Q41 ONEOK Inc 682680103 225000.00000000 NS USD 18749250.00000000 4.162196110432 Long EC CORP US N 1 N N N Sempra PBBKGKLRK5S5C0Y4T545 Sempra 816851109 171400.00000000 NS USD 13722284.00000000 3.046246494715 Long EC CORP US N 1 N N N Southern Co/The 549300FC3G3YU2FBZD92 Southern Co/The 842587107 322000.00000000 NS USD 26893440.00000000 5.970146611952 Long EC CORP US N 1 N N N WEC Energy Group Inc 549300IGLYTZUK3PVP70 WEC Energy Group Inc 92939U106 170300.00000000 NS USD 14656018.00000000 3.253528600558 Long EC CORP US N 1 N N N NextEra Energy Inc 254900RHL9MEUS5NKX63 NextEra Energy Inc 65339F101 443000.00000000 NS USD 33840770.00000000 7.512402963747 Long EC CORP US N 1 N N N Xcel Energy Inc LGJNMI9GH8XIDG5RCM61 Xcel Energy Inc 98389B100 290300.00000000 NS USD 16918684.00000000 3.755823872338 Long EC CORP US N 1 N N N E.ON SE Q9MAIUP40P25UFBFG033 E.ON SE 000000000 560000.00000000 NS 7857567.90000000 1.744322495611 Long EC CORP DE N 1 N N N CSX Corp 549300JVQR4N1MMP3Q88 CSX Corp 126408103 185000.00000000 NS USD 6493500.00000000 1.441509417341 Long EC CORP US N 1 N N N Cheniere Energy Inc MIHC87W9WTYSYZWV1J40 Cheniere Energy Inc 16411R208 129000.00000000 NS USD 23560560.00000000 5.230271674419 Long EC CORP US N 1 N N N DT Midstream Inc N/A DT Midstream Inc 23345M107 66000.00000000 NS USD 4973760.00000000 1.104138273596 Long EC CORP US N 1 N N N Crown Castle Inc 54930012H97VSM0I2R19 Crown Castle Inc 22822V101 39000.00000000 NS USD 4293120.00000000 0.953041181146 Long EC CORP US N 1 N N N Norfolk Southern Corp 54930036C8MWP850MI84 Norfolk Southern Corp 655844108 25900.00000000 NS USD 6463604.00000000 1.434872724411 Long EC CORP US N 1 N N N Orsted AS W9NG6WMZIYEU8VEDOG48 Orsted AS 000000000 75000.00000000 NS 4463845.46000000 0.990940982235 Long EC CORP DK N 1 N N N Pembina Pipeline Corp 5493002W3L9YICM6FU21 Pembina Pipeline Corp 706327103 302000.00000000 NS 11704646.36000000 2.598345723353 Long EC CORP CA N 1 N N N Eversource Energy SJ7XXD41SQU3ZNWUJ746 Eversource Energy 30040W108 197000.00000000 NS USD 12787270.00000000 2.838680238252 Long EC CORP US N 1 N N N Ameren Corp XRZQ5S7HYJFPHJ78L959 Ameren Corp 023608102 125660.00000000 NS USD 9961068.20000000 2.211284148314 Long EC CORP US N 1 N N N CMS Energy Corp 549300IA9XFBAGNIBW29 CMS Energy Corp 125896100 208500.00000000 NS USD 13510800.00000000 2.999298596414 Long EC CORP US N 1 N N N Enterprise Products Partners L K4CDIF4M54DJZ6TB4Q48 Enterprise Products Partners LP 293792107 484000.00000000 NS USD 13968240.00000000 3.100846924414 Long EC CORP US N 1 N N N Public Service Enterprise Grou PUSS41EMO3E6XXNV3U28 Public Service Enterprise Group Inc 744573106 118000.00000000 NS USD 9412860.00000000 2.089585945040 Long EC CORP US N 1 N N N Entergy Corp 4XM3TW50JULSLG8BNC79 Entergy Corp 29364G103 110000.00000000 NS USD 12756700.00000000 2.831893922261 Long EC CORP US N 1 N N N Flughafen Zurich AG 529900PFO97GCN5SYB55 Flughafen Zurich AG 000000000 17000.00000000 NS 3939390.49000000 0.874515821963 Long EC CORP CH N 1 N N N CenterPoint Energy Inc 21TPXMRRHFKOBHDC8J74 CenterPoint Energy Inc 15189T107 674000.00000000 NS USD 18703500.00000000 4.152039945676 Long EC CORP US N 1 N N N INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 NEXTERA ENERGY INC 000000000 -1200.00000000 NC USD -58800.00000000 -0.01305316912 N/A DE CORP US N 1 INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 Call Written NextEra Energy Inc NextEra Energy Inc 100.00000000 85.00000000 USD 2024-09-20 XXXX 132786.64000000 N N N Union Pacific Corp 549300LMMRSZZCZ8CL11 Union Pacific Corp 907818108 33600.00000000 NS USD 8290128.00000000 1.840347668124 Long EC CORP US N 1 N N N Severn Trent PLC 213800RPBXRETY4A4C59 Severn Trent PLC 000000000 175000.00000000 NS 5784010.84000000 1.284008022771 Long EC CORP GB N 1 N N N Williams Cos Inc/The D71FAKCBLFS2O0RBPG08 Williams Cos Inc/The 969457100 372147.00000000 NS USD 15979992.18000000 3.547441166784 Long EC CORP US N 1 N N N RWE AG 529900GB7KCA94ACC940 RWE AG 000000000 290000.00000000 NS 10824772.72000000 2.403020222755 Long EC CORP DE N 1 N N N MPLX LP 5493000CZJ19CK4P3G36 MPLX LP 55336V100 428575.00000000 NS USD 18351581.50000000 4.073916617442 Long EC CORP US N 1 N N N Aena SME SA 959800R7QMXKF0NFMT29 Aena SME SA 000000000 34400.00000000 NS 6518867.94000000 1.447140914132 Long EC CORP ES N 1 N N N INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 DTE ENERGY CO 000000000 -900.00000000 NC USD -195300.00000000 -0.04335516889 N/A DE CORP US N 1 INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 Call Written DTE Energy Co DTE Energy Co 100.00000000 125.00000000 USD 2024-10-18 XXXX -46948.15000000 N N N Plains All American Pipeline L 5521FA2ITF25TVH63740 Plains All American Pipeline LP 726503105 560000.00000000 NS USD 10186400.00000000 2.261306156742 Long EC CORP US N 1 N N N 2024-09-25 Duff & Phelps Utility and Infrastructure Fund Inc. Amy Hackett Amy Hackett Vice President and Assistant Treasurer XXXX NPORT-EX 2 VIPHG20VIRTUS073124.htm
DUFF & PHELPS UTILITY AND INFRASTRUCTURE FUND INC.
SCHEDULE OF INVESTMENTS July 31, 2024
(Unaudited)
Shares   Description   Value
Common Stocks & MLP Interests—135.6%
    ■ Airport Services—2.8%
34,400  
Aena SME S.A. (Spain)(1)
  $6,518,868
17,000  
Flughafen Zurich AG Registered Shares (Switzerland)(1)
  3,939,390
34,000  
Grupo Aeroportuario del Centro Norte SAB de C.V. ADR (Mexico)
  2,344,300
        12,802,558
    ■ Electric, Gas and Water—75.7%
289,990  
Alliant Energy Corp. (1)
  16,140,843
125,660  
Ameren Corp. (1)
  9,961,068
111,800  
Atmos Energy Corp. (1)
  14,296,984
674,000  
CenterPoint Energy, Inc. (1)
  18,703,500
208,500  
CMS Energy Corp.
  13,510,800
179,000  
DTE Energy Co. (1)(2)
  21,574,870
250,300  
Duke Energy Corp. (1)
  27,350,281
220,600  
Edison International (1)
  17,650,206
900,000  
Enel SpA (Italy)(1)
  6,422,721
110,000  
Entergy Corp. (1)
  12,756,700
268,000  
Evergy, Inc. (1)
  15,544,000
197,000  
Eversource Energy (1)
  12,787,270
633,000  
Iberdrola S.A. (Spain)(1)
  8,344,083
443,000  
NextEra Energy, Inc. (1)(2)
  33,840,770
75,000  
Orsted AS (Denmark)(1)(3)
  4,463,845
430,000  
Pennon Group plc (United Kingdom)
  3,427,276
530,235  
PPL Corp. (1)
  15,758,584
118,000  
Public Service Enterprise Group, Inc. (1)
  9,412,860
230,000  
Redeia Corp. S.A. (Spain)(1)
  4,074,780
290,000  
RWE AG (Germany)(1)
  10,824,773
175,000  
Severn Trent plc (United Kingdom)
  5,784,011
322,000  
Southern Co. (The) (1)
  26,893,440
170,300  
WEC Energy Group, Inc. (1)
  14,656,018
290,300  
Xcel Energy, Inc. (1)
  16,918,684
        341,098,367
    ■ Highways & Railtracks—2.0%
1,033,000  
Transurban Group (Australia)
  8,788,650
Shares   Description   Value
    ■ Integrated Telecommunication Services—2.1%
495,000  
AT&T, Inc. (1)
  $9,528,750
    ■ Multi-Utilities—10.4%
560,000  
E.ON SE (Germany)(1)
  7,857,568
581,250  
National Grid plc (United Kingdom)
  7,367,648
576,000  
NiSource, Inc. (1)
  18,000,000
171,400  
Sempra (1)
  13,722,284
        46,947,500
    ■ Oil & Gas Storage, Transportation and Production—36.0%
129,000  
Cheniere Energy, Inc. (1)
  23,560,560
66,000  
DT Midstream, Inc. (1)
  4,973,760
1,243,185  
Energy Transfer LP (1)
  20,226,620
294,000  
EnLink Midstream LLC (1)
  4,018,980
484,000  
Enterprise Products Partners LP
  13,968,240
428,575  
MPLX LP (1)
  18,351,582
225,000  
ONEOK, Inc. (1)
  18,749,250
302,000  
Pembina Pipeline Corp. (Canada)
  11,704,646
560,000  
Plains All American Pipeline

LP (1)
  10,186,400
150,300  
Targa Resources Corp.
  20,332,584
372,147  
Williams Cos., Inc. (The) (1)
  15,979,992
        162,052,614
    ■ Railroads—5.6%
48,700  
Canadian Pacific Kansas City Ltd. (Canada)
  4,083,936
185,000  
CSX Corp. (1)
  6,493,500
25,900  
Norfolk Southern Corp. (1)
  6,463,604
33,600  
Union Pacific Corp. (1)
  8,290,128
        25,331,168
The accompanying notes are an integral part of these financial statements.
1
DUFF & PHELPS UTILITY AND INFRASTRUCTURE FUND INC.
SCHEDULE OF INVESTMENTS—(Continued)
July 31, 2024
(Unaudited)
Shares   Description   Value
    ■ Telecom Tower REITs—1.0%
39,000  
Crown Castle, Inc. (1)
  $4,293,120
    Total Common Stocks & MLP Interests
(Cost $517,969,435) 		  610,842,727
TOTAL INVESTMENTS BEFORE WRITTEN OPTIONS—135.6%
(Cost $517,969,435) 		  610,842,727
    ■ Written Options—(0.0)%
    (see Open Written Option Contracts on the next page)
    Total Written Options
(Premiums received $339,938) 		  (254,100)
TOTAL INVESTMENTS AFTER WRITTEN OPTIONS—135.6%
(Cost $517,629,497) 		  610,588,627
    Secured borrowings—(27.8)%   (125,000,000)
    Mandatory Redeemable Preferred Shares at liquidation value—(7.8)%   (35,000,000)
   
Other assets less other liabilities—(0.0)%
  (198,979)
NET ASSETS APPLICABLE TO COMMON STOCK—100.0%   $450,389,648
(1) All or a portion of the security is segregated as collateral for borrowings. The value of securities segregated as collateral is $336,601,424.
(2) All or a portion of the security is segregated as collateral for written options. The value of securities segregated as collateral is $20,014,500.
(3) Non-income producing.
The percentage shown for each investment category is the total value of that category as a percentage of the net assets applicable to common stock of the Fund.
The accompanying notes are an integral part of these financial statements.
2
DUFF & PHELPS UTILITY AND INFRASTRUCTURE FUND INC.
SCHEDULE OF INVESTMENTS—(Continued)
July 31, 2024
(Unaudited)
Open Written Option Contracts as of July 31, 2024, were as follows:
Description of Option   Number of
Contracts 		  Contract
Notional
Amount 		  Strike
Price 		  Expiration
Date 		  Value
Exchange-Traded Call Options                    
DTE Energy Co.
  (900)   $(11,250)   $125.00   10/18/24   $(195,300)
NextEra Energy, Inc.
  (1,200)   (10,200)   85.00   9/20/24   (58,800)
                    $(254,100)
The accompanying notes are an integral part of these financial statements.
3
DUFF & PHELPS UTILITY AND INFRASTRUCTURE FUND INC.
SCHEDULE OF INVESTMENTS—(Continued)
July 31, 2024
(Unaudited)
Sector Allocation*
Electric, Gas and Water 56%
Oil & Gas Storage, Transportation and Production 26
Multi-Utilities 8
Railroads 4
Airport Services 2
Integrated Telecommunication Services 2
Highways & Railtracks 1
Telecom Tower REITs 1
Total 100%
 
    
Country Weightings*
United States 83%
Germany 4
Canada 3
Spain 3
United Kingdom 3
Italy 1
Australia 1
Denmark 1
Switzerland 1
Total 100%
 
    
Currency Exposure*
United States Dollar 83%
Euro 8
Canadian Dollar 3
United Kingdom Pound Sterling 3
Australian Dollar 1
Danish Krone 1
Swiss Franc 1
Total 100%
 
* Percentages are based on total investments before written options rather than net assets applicable to common stock.
The accompanying notes are an integral part of these financial statements.
4
DUFF & PHELPS UTILITY AND INFRASTRUCTURE FUND INC.
SCHEDULE OF INVESTMENTS—(Continued)
July 31, 2024
(Unaudited)
Note 1. Investment Valuation
The Fund’s investments are carried at fair value which is defined as the price that the Fund might reasonably expect to receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. The three-tier hierarchy of inputs established to classify fair value measurements for disclosure purposes is summarized in the three broad levels listed below:
Level 1—quoted prices in active markets for identical securities
Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.)
Level 3—significant unobservable inputs (including the Investment Adviser’s Valuation Committee’s own assumptions in determining fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. For more information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements contained in its annual report. The following is a summary of the inputs used to value each of the Fund’s investments at July 31, 2024:
  Level 1
Common stocks & MLP interests
$610,842,727
Written options
(254,100)
Total investments
$610,588,627
There were no Level 3 priced securities held and there were no transfers into or out of Level 3.
Other information regarding the Fund is available on the Fund’s website www.dpimc.com/dpg or the Securities and Exchange Commission’s website at www.sec.gov.
5