CBRE Clarion Global Real Estate Income Fund
(Effective October 7, 2021, the name of the Trust changed to CBRE Global Real Estate Income Fund)
Portfolio of Investments (unaudited)
September 30, 2021
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Shares | Market Value |
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Real Estate Securities* - 126.1% |
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Common Stock - 118.6% | ||||||||
Australia - 4.6% | ||||||||
1,178,512 | Dexus | $ | 9,194,023 | |||||
665,063 | Goodman Group | 10,415,255 | ||||||
1,142,957 | Ingenia Communities Group | 5,482,085 | ||||||
5,758,871 | Mirvac Group | 12,438,166 | ||||||
9,803,058 | Vicinity Centres | 11,825,673 | ||||||
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49,355,202 |
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Belgium - 1.4% | ||||||||
147,379 | Shurgard Self Storage SA | 8,087,612 | ||||||
165,831 | Warehouses De Pauw CVA | 6,726,644 | ||||||
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14,814,256 |
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Canada - 2.4% | ||||||||
219,878 | Boardwalk Real Estate Investment Trust | 8,207,783 | ||||||
151,916 | Canadian Apartment Properties REIT | 7,088,254 | ||||||
818,500 | H&R Real Estate Investment Trust | 10,098,398 | ||||||
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25,394,435 |
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France - 0.6% | ||||||||
93,992 | Unibail-Rodamco-Westfield (a) | 6,930,256 | ||||||
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Germany - 5.9% | ||||||||
293,937 | ADLER Group SA | 5,007,677 | ||||||
534,227 | alstria office REIT-AG | 9,726,727 | ||||||
157,643 | Grand City Properties SA | 3,935,365 | ||||||
172,977 | LEG Immobilien SE | 24,497,641 | ||||||
329,326 | Vonovia SE | 19,808,796 | ||||||
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62,976,206 |
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Hong Kong - 5.7% | ||||||||
3,140,000 | Hang Lung Properties Ltd. | 7,163,636 | ||||||
3,943,070 | Link REIT | 33,810,116 | ||||||
2,217,000 | New World Development Co. Ltd. | 9,070,601 | ||||||
4,382,000 | Swire Properties Ltd. | 10,987,859 | ||||||
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61,032,212 |
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Ireland - 0.8% | ||||||||
6,713,031 | Hibernia REIT PLC | 9,087,118 | ||||||
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Japan - 10.7% | ||||||||
2,359 | Activia Properties, Inc. | 9,662,227 | ||||||
7,321 | AEON REIT Investment Corp. | 9,829,136 | ||||||
1,720 | Kenedix Office Investment Corp. | 11,823,796 | ||||||
4,112 | Kenedix Residential Next Investment Corp. | 8,004,718 | ||||||
10,619 | LaSalle Logiport REIT | 17,845,059 | ||||||
1,084,900 | Mitsui Fudosan Co., Ltd. | 25,937,448 | ||||||
530,600 | Nomura Real Estate Holdings, Inc. | 13,876,682 | ||||||
2,593 | Sankei Real Estate, Inc. | 2,835,277 | ||||||
2,426,392 | Tokyu Fudosan Holdings Corp. | 15,005,247 | ||||||
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114,819,590 |
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Mexico - 1.4% | ||||||||
6,890,088 | Prologis Property Mexico SA de CV | 14,957,674 | ||||||
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Shares | Market Value |
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Singapore - 4.3% |
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9,381,444 | CapitaLand China Trust | $ | 8,568,791 | |||||
7,572,912 | CapitaLand Integrated Commercial Trust | 11,323,668 | ||||||
4,481,800 | Capitaland Investment Ltd. (a) | 11,224,307 | ||||||
1,626,000 | City Developments Ltd. | 8,276,120 | ||||||
8,338,000 | Keppel REIT | 6,510,224 | ||||||
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45,903,110 |
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Sweden - 2.3% | ||||||||
507,495 | Castellum AB | 12,442,940 | ||||||
131,216 | Catena AB | 7,109,336 | ||||||
939,769 | Samhallsbyggnadsbolaget i Norden AB | 5,207,720 | ||||||
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24,759,996 |
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United Kingdom - 5.3% | ||||||||
438,333 | Big Yellow Group PLC | 8,244,819 | ||||||
543,069 | Safestore Holdings PLC | 7,681,274 | ||||||
1,523,388 | Segro PLC | 24,546,026 | ||||||
5,003,193 | Target Healthcare REIT PLC | 7,744,473 | ||||||
3,016,296 | Tritax Big Box REIT PLC | 8,646,493 | ||||||
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56,863,085 |
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United States - 73.2% | ||||||||
49,902 | Alexandria Real Estate Equities, Inc. | 9,534,775 | ||||||
305,332 | American Tower Corp. | 81,038,166 | ||||||
219,993 | Apartment Income REIT Corp. | 10,737,858 | ||||||
176,674 | Camden Property Trust | 26,054,115 | ||||||
241,817 | Crown Castle International Corp. | 41,911,722 | ||||||
613,743 | CubeSmart | 29,735,848 | ||||||
134,104 | CyrusOne, Inc. | 10,380,991 | ||||||
1,077,285 | Duke Realty Corp. | 51,569,633 | ||||||
12,038 | Equinix, Inc. | 9,511,585 | ||||||
56,143 | Essex Property Trust, Inc. | 17,951,163 | ||||||
250,385 | Extra Space Storage, Inc. | 42,062,176 | ||||||
615,723 | Healthcare Trust of America, Inc., Class A | 18,262,344 | ||||||
1,217,065 | Host Hotels & Resorts, Inc. (a) | 19,874,671 | ||||||
390,899 | Hudson Pacific Properties, Inc. | 10,268,917 | ||||||
1,141,244 | Invitation Homes, Inc. | 43,743,883 | ||||||
156,377 | Life Storage, Inc. | 17,942,697 | ||||||
382,200 | National Retail Properties, Inc. | 16,507,218 | ||||||
308,731 | Pebblebrook Hotel Trust | 6,918,662 | ||||||
696,892 | Piedmont Office Realty Trust, Inc., Class A | 12,146,828 | ||||||
437,044 | Prologis, Inc. | 54,818,429 | ||||||
271,200 | Realty Income Corp. | 17,590,032 | ||||||
251,712 | Regency Centers Corp. | 16,947,769 | ||||||
513,368 | Simon Property Group, Inc. | 66,722,439 | ||||||
731,143 | SITE Centers Corp. | 11,288,848 | ||||||
585,007 | Spirit Realty Capital, Inc. | 26,933,722 | ||||||
157,054 | Sun Communities, Inc. | 29,070,695 | ||||||
1,376,900 | Sunstone Hotel Investors, Inc. (a) | 16,440,186 | ||||||
388,800 | UDR, Inc. | 20,598,624 | ||||||
311,065 | Ventas, Inc. | 17,173,899 | ||||||
225,170 | Welltower, Inc. | 18,554,008 | ||||||
396,000 | Weyerhaeuser Co. | 14,085,720 | ||||||
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786,377,623 |
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Total Common Stock (cost $1,142,450,768) |
1,273,270,763 | |||||||
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See previously submitted notes to financial statements for the semi-annual period ended June 30, 2021.
CBRE Clarion Global Real Estate Income Fund
(Effective October 7, 2021, the name of the Trust changed to CBRE Global Real Estate Income Fund)
Portfolio of Investments (unaudited) continued
September 30, 2021
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Shares | Market Value | |||||||
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Preferred Stock - 7.5% |
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United States - 7.5% | ||||||||
245,403 | Digital Realty Trust, Inc., Series J, 5.250% | $ | 6,351,030 | |||||
301,100 | Digital Realty Trust, Inc., Series L, 5.200% | 8,189,920 | ||||||
282,200 | Federal Realty Investment Trust, Series C, 5.000% | 7,187,634 | ||||||
405,900 | National Storage Affiliates Trust, Series A, 6.000% | 10,638,639 | ||||||
383,644 | Pebblebrook Hotel Trust, Series E, 6.375% | 9,441,479 | ||||||
541,950 | Pebblebrook Hotel Trust, Series F, 6.300% | 13,451,199 | ||||||
262,125 | Pebblebrook Hotel Trust, Series G, 6.375% | 6,697,294 | ||||||
143,517 | Rexford Industrial Realty, Inc., Series B, 5.875% | 3,758,710 | ||||||
287,077 | Summit Hotel Properties, Inc., Series E, 6.250% | 7,472,614 | ||||||
265,000 | Sunstone Hotel Investors, Inc., Series H, 6.125% | 6,852,900 | ||||||
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Total Preferred Stock (cost $74,816,008) |
80,041,419 | |||||||
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Total Investments - 126.1% (cost $1,217,266,776) |
1,353,312,182 | |||||||
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Liabilities in Excess of Other Assets - (26.1)% | (279,855,353 | ) | ||||||
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Net Assets - 100.0% | $ | 1,073,456,829 | ||||||
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* | Includes U.S. Real Estate Investment Trusts (REIT) and Real Estate Operating Companies (REOC) as well as entities similarly formed under the laws of non-U.S. countries. |
(a) | Non-income producing security. |
See previously submitted notes to financial statements for the semi-annual period ended June 30, 2021.
CBRE Clarion Global Real Estate Income Fund
(Effective October 7, 2021, the name of the Trust changed to CBRE Global Real Estate Income Fund)
Portfolio of Investments (unaudited) concluded
September 30, 2021
Securities Valuation
The following is a summary of various inputs used in determining the value of the Trusts investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical investments. Level 2 includes other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Trusts own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of inputs used as of September 30, 2021.
Assets |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Investments in Real Estate Securities |
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Common Stock |
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Australia |
$ | 49,355,202 | $ | | $ | | $ | 49,355,202 | ||||||||
Belgium |
14,814,256 | | | 14,814,256 | ||||||||||||
Canada |
25,394,435 | | | 25,394,435 | ||||||||||||
France |
6,930,256 | | | 6,930,256 | ||||||||||||
Germany |
62,976,206 | | | 62,976,206 | ||||||||||||
Hong Kong |
61,032,212 | | | 61,032,212 | ||||||||||||
Ireland |
9,087,118 | | | 9,087,118 | ||||||||||||
Japan |
114,819,590 | | | 114,819,590 | ||||||||||||
Mexico |
14,957,674 | | | 14,957,674 | ||||||||||||
Singapore |
45,903,110 | | | 45,903,110 | ||||||||||||
Sweden |
24,759,996 | | | 24,759,996 | ||||||||||||
United Kingdom |
56,863,085 | | | 56,863,085 | ||||||||||||
United States |
786,377,623 | | | 786,377,623 | ||||||||||||
Total Common Stock |
1,273,270,763 | | | 1,273,270,763 | ||||||||||||
Preferred Stock |
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United States |
80,041,419 | | | 80,041,419 | ||||||||||||
Total Investment in Real Estate Securities |
$ | 1,353,312,182 | $ | | $ | | $ | 1,353,312,182 |
See previously submitted notes to financial statements for the semi-annual period ended June 30, 2021.