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value="Sedol"/></identifiers><balance>388357</balance><units>NS</units><curCd>USD</curCd><valUSD>16617796</valUSD><pctVal>3.147</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Japan Metropolitan Fund Invest</name><lei>353800QDHNIP60E1LQ93</lei><title>Japan Retail Fund Investment Corp</title><cusip>J27544105</cusip><identifiers><isin value="JP3039710003"/><ticker value="8953 JP"/><other otherDesc="6513342" value="Sedol"/></identifiers><balance>9591</balance><units>NS</units><currencyConditional curCd="JPY" exchangeRt="144.28"/><valUSD>6401534</valUSD><pctVal>1.212</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JP</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Orix JREIT Inc</name><lei>N/A</lei><title>Orix JREIT Inc</title><cusip>J8996L102</cusip><identifiers><isin value="JP3040880001"/><ticker value="8954 JP"/><other otherDesc="6527774" value="Sedol"/></identifiers><balance>5597</balance><units>NS</units><currencyConditional curCd="JPY" exchangeRt="144.28"/><valUSD>6881812</valUSD><pctVal>1.303</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JP</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>CapitaLand Ascendas REIT</name><lei>549300ILIBAEMQZK3L20</lei><title>Ascendas</title><cusip>Y0205X103</cusip><identifiers><isin value="SG1M77906915"/><ticker value="CLAR SP"/><other otherDesc="6563875" value="Sedol"/></identifiers><balance>3730200</balance><units>NS</units><currencyConditional curCd="SGD" exchangeRt="1.3521"/><valUSD>7503989</valUSD><pctVal>1.421</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>SG</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Mitsui Fudosan Co Ltd</name><lei>353800ND4ZKNZDYKMF33</lei><title>Mitsui Fudosan Co Ltd</title><cusip>J4509L101</cusip><identifiers><isin value="JP3893200000"/><ticker value="8801 JP"/><other otherDesc="6597603" value="Sedol"/></identifiers><balance>839800</balance><units>NS</units><currencyConditional curCd="JPY" exchangeRt="144.28"/><valUSD>16649902</valUSD><pctVal>3.153</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JP</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>United Urban Investment Corp</name><lei>353800GYZWBD7BDCN841</lei><title>United Urban Investment Corp</title><cusip>J9427E105</cusip><identifiers><isin value="JP3045540006"/><ticker value="8960 JP"/><other otherDesc="6723839" value="Sedol"/></identifiers><balance>4114</balance><units>NS</units><currencyConditional curCd="JPY" exchangeRt="144.28"/><valUSD>4145936</valUSD><pctVal>0.785</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JP</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Stockland</name><lei>549300Y8E5TMSOLM7P64</lei><title>Stockland</title><cusip>Q8773B105</cusip><identifiers><isin value="AU000000SGP0"/><ticker value="SGP AU"/><other otherDesc="6850856" value="Sedol"/></identifiers><balance>1944028</balance><units>NS</units><currencyConditional curCd="AUD" exchangeRt="1.5015"/><valUSD>5217737</valUSD><pctVal>0.988</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>AU</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Sun Hung Kai Properties Ltd</name><lei>529900LUMD393RD3S874</lei><title>Sun Hung Kai Properties Ltd</title><cusip>Y82594121</cusip><identifiers><isin value="HK0016000132"/><ticker value="16 HK"/><other otherDesc="6859927" value="Sedol"/></identifiers><balance>598500</balance><units>NS</units><currencyConditional curCd="HKD" exchangeRt="7.8357"/><valUSD>7538822</valUSD><pctVal>1.428</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>HK</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Prologis Inc</name><lei>529900DFH19P073LZ636</lei><title>PROLOGIS INC</title><cusip>74340W103</cusip><identifiers><isin value="US74340W1036"/><ticker value="PLD US"/><other otherDesc="B44WZD7" value="Sedol"/></identifiers><balance>391247</balance><units>NS</units><curCd>USD</curCd><valUSD>47978620</valUSD><pctVal>9.086</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Rexford Industrial Realty Inc</name><lei>549300MSLO0DF0EMX355</lei><title>Rexford Industrial Realty Inc</title><cusip>76169C100</cusip><identifiers><isin value="US76169C1009"/><ticker value="REXR US"/><other otherDesc="BC9ZHL9" value="Sedol"/></identifiers><balance>277570</balance><units>NS</units><curCd>USD</curCd><valUSD>14494705</valUSD><pctVal>2.745</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Gecina SA</name><lei>9695003E4MMA10IBTR26</lei><title>Gecina SA</title><cusip>F4268U171</cusip><identifiers><isin value="FR0010040865"/><ticker value="GFC FP"/><other otherDesc="7742468" value="Sedol"/></identifiers><balance>30677</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.91651"/><valUSD>3265149</valUSD><pctVal>0.618</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>FR</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>SBA Communications Corp</name><lei>5299001HX8ZN8Y8QIT49</lei><title>SBA Communications Corp</title><cusip>78410G104</cusip><identifiers><isin value="US78410G1040"/><ticker value="SBAC US"/><other otherDesc="BZ6TS23" value="Sedol"/></identifiers><balance>37713</balance><units>NS</units><curCd>USD</curCd><valUSD>8740365</valUSD><pctVal>1.655</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>SITE Centers Corp</name><lei>W2AVA6SODOQ1LCYJQR54</lei><title>SITE Centers Corp</title><cusip>82981J109</cusip><identifiers><isin value="US82981J1097"/><ticker value="SITC US"/><other otherDesc="BGL0KF5" value="Sedol"/></identifiers><balance>1147535</balance><units>NS</units><curCd>USD</curCd><valUSD>15170413</valUSD><pctVal>2.873</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Spirit Realty Capital Inc</name><lei>549300LTU6LVPZSHMJ25</lei><title>SPIRIT REALTY CAPITAL INC</title><cusip>84860W300</cusip><identifiers><isin value="US84860W3007"/><ticker value="SRC US"/><other otherDesc="BHHZBZ8" value="Sedol"/></identifiers><balance>388831</balance><units>NS</units><curCd>USD</curCd><valUSD>15312165</valUSD><pctVal>2.9</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>STAG Industrial Inc</name><lei>549300QWYX2W6FASVQ07</lei><title>STAG Industrial Inc</title><cusip>85254J102</cusip><identifiers><isin value="US85254J1025"/><ticker value="STAG US"/><other otherDesc="B64BRQ5" value="Sedol"/></identifiers><balance>348571</balance><units>NS</units><curCd>USD</curCd><valUSD>12506727</valUSD><pctVal>2.369</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Janus Henderson US Holdings Inc</name><lei>8T2ZO87FU1KVPZIG9I59</lei><title>Janus Henderson Cash Liquidity Fund</title><cusip>N/A</cusip><identifiers><isin value="DU0000100962"/></identifiers><balance>5467028</balance><units>NS</units><curCd>USD</curCd><valUSD>5468121</valUSD><pctVal>1.036</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>PF</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Janus Henderson Cash Collateral Fund</name><lei>N/A</lei><title>Janus Henderson Cash Collateral Fund</title><cusip>N/A</cusip><identifiers><other otherDesc="896" value="Internal 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value="Sedol"/></identifiers><balance>353775</balance><units>NS</units><curCd>USD</curCd><valUSD>15198174</valUSD><pctVal>2.878</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>VICI Properties Inc</name><lei>254900RKH6RY9KCJQH63</lei><title>VICI Properties Inc</title><cusip>925652109</cusip><identifiers><isin value="US9256521090"/><ticker value="VICI US"/><other otherDesc="BYWH073" value="Sedol"/></identifiers><balance>818070</balance><units>NS</units><curCd>USD</curCd><valUSD>25711940</valUSD><pctVal>4.869</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Welltower Inc</name><lei>T6IZ0MBEG5ACZDTR7D06</lei><title>Welltower Inc</title><cusip>95040Q104</cusip><identifiers><isin value="US95040Q1040"/><ticker value="WELL US"/><other otherDesc="BYVYHH4" value="Sedol"/></identifiers><balance>300758</balance><units>NS</units><curCd>USD</curCd><valUSD>24328315</valUSD><pctVal>4.607</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Goodman Group</name><lei>N/A</lei><title>Goodman Group</title><cusip>Q4229W132</cusip><identifiers><isin value="AU000000GMG2"/><ticker value="GMG AU"/><other otherDesc="B03FYZ4" value="Sedol"/></identifiers><balance>572410</balance><units>NS</units><currencyConditional curCd="AUD" 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exchangeRt="144.28"/><valUSD>4310837</valUSD><pctVal>0.816</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JP</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Helical PLC</name><lei>2138003SBD2Z7WV2MP70</lei><title>Helical PLC</title><cusip>G43904195</cusip><identifiers><isin value="GB00B0FYMT95"/><ticker value="HLCL LN"/><other otherDesc="B0FYMT9" value="Sedol"/></identifiers><balance>841515</balance><units>NS</units><currencyConditional curCd="GBP" exchangeRt="0.78753"/><valUSD>2778229</valUSD><pctVal>0.526</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>GB</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Link REIT</name><lei>529900XUE70U36QX5M62</lei><title>Link</title><cusip>Y5281M111</cusip><identifiers><isin value="HK0823032773"/><ticker value="823 HK"/><other otherDesc="B0PB4M7" value="Sedol"/></identifiers><balance>1736300</balance><units>NS</units><currencyConditional curCd="HKD" exchangeRt="7.8357"/><valUSD>9639094</valUSD><pctVal>1.825</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>HK</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Japan Hotel REIT Investment Co</name><lei>353800L8KG849FP1JI68</lei><title>Japan Hotel Investment Corp</title><cusip>J2761Q107</cusip><identifiers><isin value="JP3046400002"/><ticker value="8985 JP"/><other otherDesc="B1530B1" value="Sedol"/></identifiers><balance>8450</balance><units>NS</units><currencyConditional curCd="JPY" exchangeRt="144.28"/><valUSD>4304651</valUSD><pctVal>0.815</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JP</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Safestore Holdings PLC</name><lei>213800WGA3YSJC1YOH73</lei><title>Safestore Holdings PLC</title><cusip>G77733106</cusip><identifiers><isin value="GB00B1N7Z094"/><ticker value="SAFE LN"/><other otherDesc="B1N7Z09" value="Sedol"/></identifiers><balance>420758</balance><units>NS</units><currencyConditional curCd="GBP" 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exchangeRt="144.28"/><valUSD>5258927</valUSD><pctVal>0.996</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JP</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>VGP NV</name><lei>315700NENYPIXFR94T49</lei><title>VGP NV</title><cusip>B9738D109</cusip><identifiers><isin value="BE0003878957"/><ticker value="VGP BB"/><other otherDesc="B29L881" value="Sedol"/></identifiers><balance>55000</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.91651"/><valUSD>5370918</valUSD><pctVal>1.017</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>BE</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Tricon Residential Inc</name><lei>984500EFFDE9C3A9G721</lei><title>Tricon Residential Inc</title><cusip>89612W102</cusip><identifiers><isin value="CA89612W1023"/><ticker value="TCN CN"/><other otherDesc="B4NP281" value="Sedol"/></identifiers><balance>1510328</balance><units>NS</units><currencyConditional curCd="CAD" 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exchangeRt="0.78753"/><valUSD>7911532</valUSD><pctVal>1.498</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>GB</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Swire Properties Ltd</name><lei>5299001L12PHYVQ92465</lei><title>Swire Properties Ltd</title><cusip>Y83191109</cusip><identifiers><isin value="HK0000063609"/><ticker value="1972 HK"/><other otherDesc="B67C2G0" value="Sedol"/></identifiers><balance>2212800</balance><units>NS</units><currencyConditional curCd="HKD" exchangeRt="7.8357"/><valUSD>5439020</valUSD><pctVal>1.03</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>HK</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Workspace Group PLC</name><lei>2138003GUZRFIN3UT430</lei><title>Workspace Group PLC</title><cusip>G5595E136</cusip><identifiers><isin value="GB00B67G5X01"/><ticker value="WKP LN"/><other otherDesc="B67G5X0" value="Sedol"/></identifiers><balance>594000</balance><units>NS</units><currencyConditional curCd="GBP" exchangeRt="0.78753"/><valUSD>3566127</valUSD><pctVal>0.675</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>GB</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Chartwell Retirement Residences</name><lei>549300M7UBEIZBWP4069</lei><title>Chartwell Retirement Residences</title><cusip>16141A103</cusip><identifiers><isin value="CA16141A1030"/><ticker value="CSH-U"/><other otherDesc="B8S8C94" value="Sedol"/></identifiers><balance>1248258</balance><units>NS</units><currencyConditional curCd="CAD" 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exchangeRt="0.91651"/><valUSD>2643401</valUSD><pctVal>0.501</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>DE</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Vonovia SE</name><lei>5299005A2ZEP6AP7KM81</lei><title>Vonovia SE</title><cusip>D9581T100</cusip><identifiers><isin value="DE000A1ML7J1"/><ticker value="VNA GR"/><other otherDesc="BBJPFY1" value="Sedol"/></identifiers><balance>258661</balance><units>NS</units><currencyConditional curCd="EUR" 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exchangeRt="144.28"/><valUSD>2616078</valUSD><pctVal>0.495</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JP</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>CTP NV</name><lei>3157000YTVO4TN65UM14</lei><title>CTP NV</title><cusip>N2368S105</cusip><identifiers><isin value="NL00150006R6"/><ticker value="CTPNV NA"/><other otherDesc="BLF7T27" value="Sedol"/></identifiers><balance>247372</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.91651"/><valUSD>3211887</valUSD><pctVal>0.608</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>NL</invCountry><isRestrictedSec>Y</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Merlin Properties Socimi SA</name><lei>959800L8KD863DP30X04</lei><title>Merlin Properties Socimi SA</title><cusip>E7390Z100</cusip><identifiers><isin value="ES0105025003"/><ticker value="MRL SM"/><other otherDesc="BNGNB77" value="Sedol"/></identifiers><balance>650369</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.91651"/><valUSD>5563379</valUSD><pctVal>1.054</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>ES</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Capitaland Investment Ltd/Sing</name><lei>254900AT4UQDU7SNXX49</lei><title>Capitaland Investment Ltd/Singapore</title><cusip>Y1091P105</cusip><identifiers><isin value="SGXE62145532"/><ticker value="CLI SP"/><other otherDesc="BNHXFJ6" value="Sedol"/></identifiers><balance>2466600</balance><units>NS</units><currencyConditional curCd="SGD" exchangeRt="1.3521"/><valUSD>6038345</valUSD><pctVal>1.144</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>SG</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Fastighets AB Balder</name><lei>549300GHKJCEZOAEUU82</lei><title>Fastighets AB Balder - Class B</title><cusip>W2951M127</cusip><identifiers><isin value="SE0017832488"/><ticker value="BALDB SS"/><other otherDesc="BPMRNZ9" value="Sedol"/></identifiers><balance>846748</balance><units>NS</units><currencyConditional curCd="SEK" exchangeRt="10.7815"/><valUSD>3091221</valUSD><pctVal>0.585</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>SE</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Cellnex Telecom SA</name><lei>5493008T4YG3AQUI7P67</lei><title>Cellnex Telecom SA</title><cusip>E2R41M104</cusip><identifiers><isin value="ES0105066007"/><ticker value="CLNX SM"/><other otherDesc="BX90C05" value="Sedol"/></identifiers><balance>145515</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.91651"/><valUSD>5872931</valUSD><pctVal>1.112</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>ES</invCountry><isRestrictedSec>Y</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Vicinity Ltd</name><lei>549300S7GOEVR0EGFN47</lei><title>Vicinity Centres</title><cusip>Q9395F102</cusip><identifiers><isin value="AU000000VCX7"/><ticker value="VCX AU"/><other otherDesc="BY7QXS7" value="Sedol"/></identifiers><balance>5490684</balance><units>NS</units><currencyConditional curCd="AUD" exchangeRt="1.5015"/><valUSD>6746795</valUSD><pctVal>1.278</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>AU</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Land Securities Group PLC</name><lei>213800V8IAVKS37D6B88</lei><title>Land Securities Group PLC</title><cusip>G5375M142</cusip><identifiers><isin value="GB00BYW0PQ60"/><ticker value="LAND LN"/><other otherDesc="BYW0PQ6" value="Sedol"/></identifiers><balance>594011</balance><units>NS</units><currencyConditional curCd="GBP" exchangeRt="0.78753"/><valUSD>4331024</valUSD><pctVal>0.82</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>GB</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Frasers Logistics &amp; Industrial</name><lei>N/A</lei><title>Frasers Logistics &amp; Industrial Trust</title><cusip>Y26465107</cusip><identifiers><isin value="SG1CI9000006"/><ticker value="FLT"/><other otherDesc="BYYFHZ2" value="Sedol"/></identifiers><balance>5330300</balance><units>NS</units><currencyConditional curCd="SGD" exchangeRt="1.3521"/><valUSD>4927797</valUSD><pctVal>0.933</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>SG</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>CK Asset Holdings Ltd</name><lei>5299006GJZSGP78B8S35</lei><title>CK Asset Holdings Ltd</title><cusip>G2177B101</cusip><identifiers><isin value="KYG2177B1014"/><ticker value="1113 HK"/><other otherDesc="BYZQ077" value="Sedol"/></identifiers><balance>454000</balance><units>NS</units><currencyConditional curCd="HKD" exchangeRt="7.8357"/><valUSD>2514593</valUSD><pctVal>0.476</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>HK</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec></invstOrSecs><explntrNotes><explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/></explntrNotes><signature><ncom:dateSigned>2023-08-14</ncom:dateSigned><ncom:nameOfApplicant>JANUS INVESTMENT FUND</ncom:nameOfApplicant><ncom:signature>JESPER NERGAARD</ncom:signature><ncom:signerName>JESPER NERGAARD</ncom:signerName><ncom:title>VP, CFO, TREASURER, AND PRINCIPAL ACCOUNTING OFFICER</ncom:title></signature></formData><documents>XXXX</documents></edgarSubmission>
