Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Cohen & Steers Realty Shares L  CSRSX Release date as of 2024-03-31. Data on page is subject to change. Snapshot Total Returns Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-03-31 Out of 236 Real Estate Funds Morningstar® Style Box™ What is this? As of 2024-03-31 Total Fund Assets ($ Mil) 5,562.31 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks total return through investment in real estate securities. Under normal market conditions, the fund invests at least 80% of its total assets in common stocks and other equity securities issued by real estate companies. It may invest up to 20% of its total assets in securities of foreign issuers which meet the same criteria for investment as domestic companies, including investments in such companies in the form of American Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs") and European Depositary Receipts ("EDRs"). The fund is non-diversified.

Morningstar Category: Real Estate Real estate portfolios invest primarily in real estate investment trusts of various types. REITs are companies that develop and manage real estate properties. There are several different types of REITs, including apartment, factory-outlet, health-care, hotel, industrial, mortgage, office, and shopping center REITs. Some portfolios in this category also invest in real estate operating companies.

Performance Growth of $10,000 (from 2014-01-01 to 2024-03-31) Investment: Cohen & Steers Realty Shares L Benchmark 1: MSCI ACWI NR USD Benchmark 2: S&P United States REIT TR USD Category: Real Estate This graph presents historical performance for the investment as well as an index and/or peer group. If the investment, index and/or peer group have performed similarly, the line representing the fund will overlay the index and/or peer group. Therefore, the line(s) representing the index and/or peer group history may be hidden. Total Annualized Returns % YTD 1 Year 3 Year 5 Year 10 Year Since Inception Investment -0.49 9.53 3.39 5.73 7.65 10.74 MSCI ACWI NR USD 8.20 23.22 6.96 10.92 8.66 --- S&P United States REIT TR USD -0.36 10.36 4.10 4.05 6.45 --- Category -0.97 8.45 1.69 3.45 5.85 9.62 Morningstar Rating --- --- --- # of compared Real Estate funds covered (3 yrs : out of 236 funds) (5 yrs : out of 217 funds) (10 yrs : out of 160 funds) Ratings reflect risk-adjusted performance and are derived from a weighted average of the performance figures associated with its three, five and ten-year (if applicable) time periods. Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown. Fees and Expenses Total Annual Operating Expense 0.93% Prospectus Net Expense Ratio 0.88% Maximum Sales Charge --- The total annual operating expense shown is before management fee waivers or expense caps. For more information on waivers/reimbursements, please see the prospectus. The total annual operating expense is also referred to as the prospectus gross expense ratio. Waiver Data Type Date % ExpenseRatio Contractual 2024-06-30 0.05

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 98.7 Non-U.S. Stocks 0.0 Bonds 0.0 Cash 0.4 Other 0.9 Data through 2024-03-31 Morningstar Equity Sectors % of Stocks Cyclical 100.00 Basic Materials 0.00 Consumer Cyclical 2.09 Financial Services 0.00 Real Estate 97.91 Sensitive 0.00 Communication Services 0.00 Energy 0.00 Industrials 0.00 Technology 0.00 Defensive 0.00 Consumer Defensive 0.00 Healthcare 0.00 Utilities 0.00 Data through 2024-03-31 Holding Status Total Number of Stock Holdings 30 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 64.56 Turnover % (as of 2023-12-31) 35.00 30 Day SEC Yield % 2.26 Top Holdings Sector P/E % of Net Assets American Tower Corp --- 9.81 Prologis Inc --- 8.27 Welltower Inc --- 8.08 Simon Property Group Inc --- 7.44 Digital Realty Trust Inc --- 7.26 Crown Castle Inc --- 4.94 Realty Income Corp --- 4.79 Iron Mountain Inc --- 4.69 Invitation Homes Inc --- 4.65 Equinix Inc --- 4.63 Data through 2024-03-31

Principal Risks    Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, Nondiversification, Active Management, Market/Market Volatility, Equity Securities, ETF, Industry and Sector Investing, Other, Preferred Stocks, Shareholder Activity, Real Estate/REIT Sector Show Risk Definitions

Other Information Inception Date: 1991-07-02 Portfolio Manager(s) Jon Y. Cheigh   (2007-10-17) Jon Cheigh, Executive Vice President, Chief Investment Officer, leads the investment department. Mr. Cheigh joined the company in 2005 as a REIT analyst and has served as a portfolio manager since 2008. He was appointed Chief Investment Officer in 2019 and served as Head of Global Real Estate from 2012 to 2023. Mr. Cheigh holds a BA degree cum laude from Williams College and an MBA degree from the University of Chicago. He is based in New York. Jason Yablon   (2013-05-01) Jason A. Yablon, Executive Vice President, is Head of Listed Real Estate and a senior portfolio manager for listed real estate securities portfolios and oversees the research process for listed real estate securities. He has 24 years of experience. Prior to joining Cohen & Steers in 2004, Mr.Yablon was a sell-side analyst at Morgan Stanley for four years, focusing most recently on apartment and health care REITs. Mr. Yablon has a BA from the University of Pennsylvania. He is based in New York. Mathew Kirschner   (2020-11-30) Mathew Kirschner, CFA, Senior Vice President, is a portfolio manager for U.S. real estate portfolios. He has 23 years of experience. Prior to joining the firm in 2004, Mr. Kirschner was a product research and development analyst at AllianceBernstein for three years. Mr. Kirschner has a BA from Emory University and an MBA from New York University Stern School of Business, with a concentration in Finance and Accounting. He is based in New York. Ji Zhang   (2024-01-01) Ms. Zhang joined Cohen & Steers Capital Management, Inc in 2018 and currently serves as Vice President, and a member of the Global Real Estate investment team. Ms. Zhang is a Chartered Financial Analyst charterholder. She is based in New York. Ji Zhang – Advisor, and a member of the global real estate investment team. Investment Advisor(s) Cohen & Steers Capital Management, Inc. Issuer Cohen & Steers

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