CBRE Global Real Estate Income Fund
Portfolio of Investments (unaudited)
March 31, 2026
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| Shares | Market value | |||||
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| Real Estate Securities*- 147.2% |
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| Common Stock - 139.1% |
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Australia - 6.7% |
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| 551,090 |
Charter Hall Group | $ | 7,031,722 | |||
| 1,105,903 |
Goodman Group | 19,344,800 | ||||
| 2,514,808 |
GPT Group (The) | 7,802,421 | ||||
| 3,941,566 |
Scentre Group | 8,962,583 | ||||
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| 43,141,526 | ||||||
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Belgium - 4.3% |
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| 278,702 |
Aedifica SA | 22,301,940 | ||||
| 193,764 |
Warehouses De Pauw CVA | 4,983,077 | ||||
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| 27,285,017 | ||||||
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Canada - 1.7% |
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| 176,498 |
Canadian Apartment Properties REIT | 4,491,021 | ||||
| 939,900 |
H&R Real Estate Investment Trust | 6,580,074 | ||||
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| 11,071,095 | ||||||
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France - 4.4% |
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| 224,975 |
Carmila SA | 4,313,382 | ||||
| 339,819 |
Klepierre SA | 12,693,780 | ||||
| 103,653 |
Unibail-Rodamco-Westfield | 11,333,875 | ||||
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| 28,341,037 | ||||||
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Germany - 1.5% |
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| 105,598 |
LEG Immobilien SE | 6,825,726 | ||||
| 189,168 |
TAG Immobilien AG | 2,929,391 | ||||
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| 9,755,117 | ||||||
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Hong Kong - 5.8% |
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| 4,706,470 |
Link REIT | 21,622,797 | ||||
| 614,000 |
Sun Hung Kai Properties Ltd. | 10,118,211 | ||||
| 1,985,210 |
Swire Properties Ltd. | 5,757,975 | ||||
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| 37,498,983 | ||||||
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Japan - 11.2% |
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| 9,417 |
Activia Properties, Inc. | 8,275,169 | ||||
| 7,321 |
AEON REIT Investment Corp. | 5,738,442 | ||||
| 8,994 |
KDX Realty Investment Corp. | 9,079,366 | ||||
| 10,619 |
LaSalle Logiport REIT | 9,898,785 | ||||
| 115,100 |
Mitsubishi Estate Co. Ltd. | 3,126,200 | ||||
| 1,681,100 |
Mitsui Fudosan Co. Ltd. | 17,493,626 | ||||
| 4,385 |
Orix JREIT, Inc. | 2,651,562 | ||||
| 420,000 |
Sumitomo Realty & Development Co. Ltd. | 11,594,946 | ||||
| 180,300 |
Tokyo Tatemono Co. Ltd. | 4,065,222 | ||||
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| 71,923,318 | ||||||
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Singapore - 4.2% |
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| 1,542,600 |
CapitaLand Ascendas REIT | 2,953,317 | ||||
| 13,702,944 |
CapitaLand China Trust | 6,797,569 | ||||
| 4,325,500 |
CapitaLand Integrated Commercial Trust | 7,677,708 | ||||
| 1,187,100 |
CapitaLand Investment Ltd. | 2,502,742 | ||||
| 408,400 |
City Developments Ltd. | 2,598,895 | ||||
| 5,878,600 |
Frasers Logistics & Commercial Trust | 4,078,089 | ||||
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| 26,608,320 | ||||||
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Sweden - 2.0% |
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| 1,109,753 |
Castellum AB | 12,680,395 | ||||
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| Shares | Market value | |||||
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United Kingdom - 5.6% |
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| 2,598,836 |
Land Securities Group PLC | $ | 18,951,845 | |||
| 2,079,232 |
LondonMetric Property PLC | 4,976,535 | ||||
| 829,603 |
Safestore Holdings PLC | 6,941,438 | ||||
| 2,696,061 |
Tritax Big Box REIT PLC | 5,023,650 | ||||
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| 35,893,468 | ||||||
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United States - 91.7% |
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| 178,107 |
Alexandria Real Estate Equities, Inc. | 8,267,727 | ||||
| 209,073 |
American Tower Corp. | 36,081,818 | ||||
| 600,397 |
Americold Realty Trust, Inc. | 6,880,550 | ||||
| 132,817 |
AvalonBay Communities, Inc. | 21,695,657 | ||||
| 395,606 |
Brixmor Property Group, Inc. | 11,393,453 | ||||
| 469,259 |
Broadstone Net Lease, Inc., Class A | 8,573,362 | ||||
| 185,460 |
Crown Castle, Inc. | 15,079,753 | ||||
| 659,781 |
CubeSmart | 24,180,974 | ||||
| 83,082 |
EastGroup Properties, Inc. | 15,377,647 | ||||
| 640,539 |
Empire State Realty Trust, Inc., Class A | 3,330,803 | ||||
| 68,674 |
Equinix, Inc. | 67,317,002 | ||||
| 315,862 |
Essential Properties Realty Trust, Inc. | 9,589,570 | ||||
| 31,700 |
Essex Property Trust, Inc. | 7,671,400 | ||||
| 194,962 |
Extra Space Storage, Inc. | 25,565,367 | ||||
| 94,074 |
Federal Realty Investment Trust | 9,991,600 | ||||
| 253,344 |
First Industrial Realty Trust, Inc. | 14,655,950 | ||||
| 219,124 |
Gaming and Leisure Properties, Inc. | 9,722,532 | ||||
| 154,564 |
Getty Realty Corp. | 4,915,135 | ||||
| 767,475 |
Healthpeak Properties, Inc. | 12,609,614 | ||||
| 418,300 |
Independence Realty Trust, Inc. | 6,228,487 | ||||
| 435,438 |
Invitation Homes, Inc. | 10,820,634 | ||||
| 119,996 |
Iron Mountain, Inc. | 12,256,392 | ||||
| 171,316 |
Lineage, Inc. | 5,612,312 | ||||
| 696,892 |
Piedmont Realty Trust, Inc. (a) | 4,578,580 | ||||
| 58,179 |
Prologis, Inc. | 7,690,100 | ||||
| 126,830 |
Regency Centers Corp. | 9,595,958 | ||||
| 572,115 |
Rexford Industrial Realty, Inc. | 18,725,324 | ||||
| 181,377 |
Simon Property Group, Inc. | 33,832,252 | ||||
| 353,181 |
STAG Industrial, Inc. | 12,735,707 | ||||
| 262,148 |
Sun Communities, Inc. | 33,020,162 | ||||
| 1,408,200 |
Sunstone Hotel Investors, Inc. | 12,687,882 | ||||
| 210,642 |
Ventas, Inc. | 17,226,303 | ||||
| 772,448 |
VICI Properties, Inc. | 21,103,279 | ||||
| 137,828 |
Vornado Realty Trust | 3,582,150 | ||||
| 339,302 |
Welltower, Inc. |
67,083,398 | ||||
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| 589,678,834 | ||||||
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| Total Common Stock (cost $1,125,087,595) |
893,877,110 | |||||
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| Preferred Stock - 8.1% |
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| United States - 8.1% |
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| 245,403 |
Digital Realty Trust, Inc., Series J, 5.250% | 4,971,865 | ||||
| 301,100 |
Digital Realty Trust, Inc., Series L, 5.200% | 5,841,340 | ||||
| 282,200 |
Federal Realty Investment Trust, Series C, 5.000% | 5,443,638 | ||||
| 383,644 |
Pebblebrook Hotel Trust, Series E, 6.375% | 7,369,801 | ||||
| 541,950 |
Pebblebrook Hotel Trust, Series F, 6.300% | 10,459,635 | ||||
| 262,125 |
Pebblebrook Hotel Trust, Series G, 6.375% | 5,085,225 | ||||
| 143,517 |
Rexford Industrial Realty, Inc., Series B, 5.875% | 3,102,120 | ||||
| 287,077 |
Summit Hotel Properties, Inc., Series E, 6.250% | 4,980,786 | ||||
| 265,000 |
Sunstone Hotel Investors, Inc., Series H, 6.125% |
5,111,850 | ||||
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| Total Preferred Stock (cost $61,743,975) |
52,366,260 | |||||
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See previously submitted notes to financial statements for the annual period ended December 31, 2025.
CBRE Global Real Estate Income Fund
Portfolio of Investments (unaudited) continued
March 31, 2026
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| Shares | Market value | |||||
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| Right - 0.0% |
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Singapore - 0.0% |
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| 43,192 |
CapitaLand Ascendas REIT, expires 04/20/26(a) (cost $0) |
$ | 4,017 | |||
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| Total Investments - 147.2% (cost $1,186,831,570) |
946,247,387 | |||||
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| Liabilities in Excess of Other Assets - (47.2)% |
(303,444,992 | ) | ||||
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| Net Assets - 100.0% |
$ | 642,802,395 | ||||
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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 annual period ended December 31, 2025.
CBRE Global Real Estate Income Fund
Portfolio of Investments (unaudited) concluded
March 31, 2026
Securities Valuation
The following is a summary of various inputs used in determining the value of the Trust’s 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 Trust’s 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 March 31, 2026.
| Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
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| INVESTMENT IN REAL ESTATE SECURITIES |
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| Common Stock |
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| Australia |
$ | 43,141,526 | $ | – | $ | – | $ | 43,141,526 | ||||||||
| Belgium |
27,285,017 | – | – | 27,285,017 | ||||||||||||
| Canada |
11,071,095 | – | – | 11,071,095 | ||||||||||||
| France |
28,341,037 | – | – | 28,341,037 | ||||||||||||
| Germany |
9,755,117 | – | – | 9,755,117 | ||||||||||||
| Hong Kong |
37,498,983 | – | – | 37,498,983 | ||||||||||||
| Japan |
71,923,318 | – | – | 71,923,318 | ||||||||||||
| Singapore |
26,608,320 | – | – | 26,608,320 | ||||||||||||
| Sweden |
12,680,395 | – | – | 12,680,395 | ||||||||||||
| United Kingdom |
35,893,468 | – | – | 35,893,468 | ||||||||||||
| United States |
589,678,834 | – | – | 589,678,834 | ||||||||||||
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| Total Common Stock |
893,877,110 | – | – | 893,877,110 | ||||||||||||
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| Preferred Stock |
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| United States |
52,366,260 | – | – | 52,366,260 | ||||||||||||
| Right |
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| Singapore |
– | 4,017 | – | 4,017 | ||||||||||||
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| TOTAL INVESTMENT IN REAL ESTATE SECURITIES |
$ | 946,243,370 | $ | 4,017 | $ | – | $ | 946,247,387 | ||||||||
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See previously submitted notes to financial statements for the annual period ended December 31, 2025.