CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC

CIK 0001033984 · Q1 2026

13F Equity AUM

$6.7B

-0.9% QoQ

Positions

-1 QoQ

AUM Rank

#829

Top 7%

Skill Alpha (FF)

-2.7%/yr^ns

No Clear Edge

Rank #6,040 · Top 73%

vs S&P -10.3%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 27.2%Top 10: 39.9%Top 20: 59.9%

WELL8.8%

EQIX7.7%

PLD4.3%

SPG3.3%

XEL3.1%

AMT2.8%

PEG2.6%

PPL2.6%

WEC2.4%

VEN2.3%

Others (86)60.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Real Estate65.3%

Utilities28.9%

Energy3.8%

Other1.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 96Median: 0.49%Avg: 1.04%

0–0.5%

49(9.7%)

0.5–1%

10(7.7%)

1–3%

32(55.5%)

3–5%

3(10.7%)

5%+

2(16.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 96Unique: 0vs 20 funds

1.3%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

2.4%

JPMORGAN CHASE & CO

BANK OF AMERICA CORP /DE/

MORGAN STANLEY

1.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.3%

VANGUARD CAPITAL MANAGEMENT LLC

2.7%

STATE STREET CORP

2.7%

GEODE CAPITAL MANAGEMENT, LLC

2.7%

FMR LLC

3.1%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New8Increased31Decreased50Exited9

New Positions

EVRG1.7%

+1.4M

AEP1.5%

+752K

OGS0.5%

+371K

MAA0.2%

+130K

Janus Living Inc0.2%

+528K

EPR0.1%

+187K

CURB0.1%

+139K

KMI0.0%

+6K

Increased

GLPI1.0%

+1.4M(+2122%)

PPL2.6%

+1.2M(+34%)

O1.2%

+897K(+197%)

EQR1.4%

+855K(+123%)

EPRT1.0%

+683K(+45%)

GTY0.7%

+567K(+71%)

SO1.1%

+560K(+303%)

BNLEUR0.2%

+554K(+476%)

CPT1.1%

+502K(+187%)

AMT2.8%

+321K(+41%)

Decreased

AES0.9%

-3,466,533(-44%)

DOC0.6%

-3,153,680(-55%)

UDR1.3%

-2,151,001(-46%)

VICI2.2%

-1,716,713(-24%)

WTRG0.2%

-1,670,277(-85%)

AMH1.4%

-1,598,741(-33%)

HST0.3%

-1,287,891(-59%)

INVH0.2%

-1,284,251(-75%)

CNP0.0%

-1,029,436(-99%)

IRT0.2%

-1,002,755(-54%)

Exited

-508,222

-1,350,832

-608,327

-542,675

-371,785

-316,068

-800,659

UNIT

-380,042

-3,337

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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