CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC

RADNOR, PA · CIK 1033984 · 13F filing filed 2024-08-13

SEC-registered investment adviser since 1995 · limited liability company

Assets managed$10.8bn
Staff60 · 30 in investment roles
Main clients (by assets)Mutual funds and ETFs 35%, State and local governments 22%, Private funds 21%
Websitecbreim.com
Form ADV · 2026-03-30SEC adviser record

Legal entityCBRE Investment Management Listed Real Assets LLC (US)
Part of CBRE Group, Inc. (US)

$5.5bn reported value +1.1% vs Q1 2024

110positions

41.2%in top 10

7 new 50 added 47 reduced 6 sold out vs Q1 2024

This report includes the holdings of 2 other managers that share the investment decisions:

New York Life Investment Management LLC – files its own report too; $277.6m of shares are in both
IndexIQ Advisors LLC – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	EQUINIX INC COM EQIX	EQIX	509,002	$385.1m7.05%	7.05%	Added +129.3k	+129,284 34.0%
2	REALTY INCOME CORP COM O	O	6,363,707	$336.1m6.15%	6.15%	Added +453.1k	+453,093 7.7%
3	PUBLIC STORAGE COM PSA	PSA	1,062,410	$305.6m5.59%	5.59%	Added +131.1k	+131,081 14.1%
4	SIMON PPTY GROUP INC NEW COM SPG	SPG	1,806,155	$274.2m5.02%	5.02%	Reduced -40.7k	-40,722 -2.2%
5	WELLTOWER INC COM WELL	WELL	1,869,543	$194.9m3.57%	3.57%	Reduced -958.7k	-958,719 -33.9%
6	PROLOGIS INC. COM PLD	PLD	1,584,971	$178.0m3.26%	3.26%	Reduced -31.6k	-31,564 -1.9%
7	REXFORD INDL RLTY INC COM REXR	REXR	3,716,302	$165.7m3.03%	3.03%	Added +155.9k	+155,926 4.4%
8	SUN CMNTYS INC COM SUI	SUI	1,172,174	$141.1m2.58%	2.58%	Added +173.1k	+173,097 17.3%
9	INVITATION HOMES INC COM INVH	INVH	3,835,359	$137.7m2.52%	2.52%	Added +319.0k	+319,024 9.1%
10	AVALONBAY CMNTYS INC COM AVB	AVB	650,683	$134.6m2.46%	2.46%	Added +19.1k	+19,088 3.0%
11	VICI PPTYS INC COM VICI	VICI	4,586,375	$131.4m2.40%	2.40%	Added +1.4m	+1,448,225 46.1%
12	WEC ENERGY GROUP INC COM WEC	WEC	1,525,231	$119.7m2.19%	2.19%	Added +491.7k	+491,668 47.6%
13	CUBESMART COM CUBE	CUBE	2,586,249	$116.8m2.14%	2.14%	Reduced -115.4k	-115,411 -4.3%
14	AMERICAN TOWER CORP NEW COM AMT	AMT	589,547	$114.6m2.10%	2.10%	Reduced -133.0k	-133,032 -18.4%
15	HEALTHPEAK PROPERTIES INC COM DOC	DOC	5,109,278	$100.1m1.83%	1.83%	Reduced -91.7k	-91,743 -1.8%
16	ALEXANDRIA REAL ESTATE EQ IN COM ARE	ARE	830,982	$97.2m1.78%	1.78%	Reduced -75.3k	-75,343 -8.3%
17	CSX CORP COM CSX	CSX	2,656,127	$88.8m1.63%	1.63%	Reduced -2.4k	-2,384 -0.1%
18	BRIXMOR PPTY GROUP INC COM BRX	BRX	3,771,923	$87.1m1.59%	1.59%	Added +786.5k	+786,503 26.3%
19	HOST HOTELS & RESORTS INC COM HST	HST	4,594,200	$82.6m1.51%	1.51%	Added +1.9m	+1,884,705 69.6%
20	NEXTERA ENERGY INC COM NEE	NEE	1,114,560	$78.9m1.44%	1.44%	Reduced -849.5k	-849,458 -43.2%
21	TARGA RES CORP COM TRGP	TRGP	607,655	$78.3m1.43%	1.43%	Reduced -10.6k	-10,563 -1.7%
22	SBA COMMUNICATIONS CORP NEW CL A SBAC	SBAC	392,344	$77.0m1.41%	1.41%	Reduced -50.6k	-50,605 -11.4%
23	SEMPRA COM SRE	SRE	976,599	$74.3m1.36%	1.36%	Reduced -41.0k	-40,954 -4.0%
24	AES CORP COM AES	AES	4,219,383	$74.1m1.36%	1.36%	Reduced -704.4k	-704,363 -14.3%
25	PG&E CORP COM PCG	PCG	4,236,944	$74.0m1.35%	1.35%	Added +1.1m	+1,076,488 34.1%
26	CROWN CASTLE INC COM CCI	CCI	749,192	$73.2m1.34%	1.34%	Reduced -73.2k	-73,205 -8.9%
27	ATMOS ENERGY CORP COM ATO	ATO	593,409	$69.2m1.27%	1.27%	Added +211.4k	+211,408 55.3%
28	AMERICOLD REALTY TRUST INC COM COLD	COLD	2,598,859	$66.4m1.21%	1.21%	New
29	XCEL ENERGY INC COM XEL	XEL	1,098,186	$58.7m1.07%	1.07%	Added +570.5k	+570,538 108.1%
30	OGE ENERGY CORP COM OGE	OGE	1,638,085	$58.5m1.07%	1.07%	Added +280.4k	+280,386 20.6%
31	EXTRA SPACE STORAGE INC COM EXR	EXR	338,327	$52.6m0.96%	0.96%	Reduced -118.0k	-117,963 -25.9%
32	PORTLAND GEN ELEC CO COM NEW POR	POR	1,161,649	$50.2m0.92%	0.92%	Added +439.5k	+439,456 60.9%
33	PPL CORP COM PPL	PPL	1,764,243	$48.8m0.89%	0.89%	Reduced -416.0k	-415,961 -19.1%
34	CMS ENERGY CORP COM CMS	CMS	730,879	$43.5m0.80%	0.80%	Reduced -9.8k	-9,801 -1.3%
35	EQUITY RESIDENTIAL SH BEN INT VMRK	VMRK	616,026	$42.7m0.78%	0.78%	Added +545.6k	+545,614 774.9%
36	CAMDEN PPTY TR SH BEN INT CPT	CPT	389,042	$42.4m0.78%	0.78%	Added +21.5k	+21,545 5.9%
37	DUKE ENERGY CORP NEW COM NEW DUK	DUK	413,668	$41.5m0.76%	0.76%	Added +42.9k	+42,867 11.6%
38	STAG INDL INC COM STAG	STAG	1,144,937	$41.3m0.76%	0.76%	Added +980.3k	+980,312 595.5%
39	NISOURCE INC COM NI	NI	1,431,566	$41.2m0.75%	0.75%	Added +246.2k	+246,240 20.8%
40	REGENCY CTRS CORP COM REG	REG	630,774	$39.2m0.72%	0.72%	Added +18.6k	+18,625 3.0%
41	PARK HOTELS & RESORTS INC COM PK	PK	2,598,355	$38.9m0.71%	0.71%	Reduced -759.0k	-758,956 -22.6%
42	ESSEX PPTY TR INC COM ESS	ESS	140,902	$38.4m0.70%	0.70%	Reduced -45.3k	-45,264 -24.3%
43	SUNSTONE HOTEL INVS INC NEW COM SHO	SHO	3,635,074	$38.0m0.70%	0.70%	Added +795.9k	+795,871 28.0%
44	FEDERAL RLTY INVT TR NEW SH BEN INT NEW FRT	FRT	353,844	$35.7m0.65%	0.65%	Added +176.0k	+175,986 99.0%
45	NEXTERA ENERGY INC UNIT 09/01/2025 NEE 6.926 09.01.25	NEE 6.926 09.01.25	856,000	$35.5m0.65%	0.65%	Added +34.0k	+34,000 4.1%
46	AGREE RLTY CORP COM ADC	ADC	569,965	$35.3m0.65%	0.65%	Added +331.0k	+330,974 138.5%
47	ATLANTICA SUSTAINABLE INFR P SHS ABY	ABY	1,604,400	$35.2m0.64%	0.64%	New
48	UDR INC COM UDR	UDR	855,529	$35.2m0.64%	0.64%	Added +808.5k	+808,490 1718.8%
49	NEXTERA ENERGY PARTNERS LP COM UNIT PART IN XIFR	XIFR	1,251,068	$34.6m0.63%	0.63%	Added +110.9k	+110,853 9.7%
50	ALLETE INC COM NEW ALE	ALE	546,136	$34.1m0.62%	0.62%	Reduced -16.2k	-16,242 -2.9%
51	INDEPENDENCE RLTY TR INC COM IRT	IRT	1,784,799	$33.4m0.61%	0.61%	Added +1.4m	+1,366,499 326.7%
52	RETAIL OPPORTUNITY INVTS COR COM ROIC	ROIC	2,620,244	$32.6m0.60%	0.60%	Added +360.2k	+360,236 15.9%
53	FOUR CORNERS PPTY TR INC COM FCPT	FCPT	1,229,835	$30.3m0.56%	0.56%	Added +46.0k	+45,962 3.9%
54	HILTON WORLDWIDE HLDGS INC COM HLT	HLT	135,223	$29.5m0.54%	0.54%	Reduced -16.1k	-16,127 -10.7%
55	EVERGY INC COM EVRG	EVRG	540,785	$28.6m0.52%	0.52%	New
56	PLAINS GP HLDGS L P LTD PARTNR INT A PAGP	PAGP	1,413,198	$26.6m0.49%	0.49%	Added +824.4k	+824,363 140.0%
57	MACERICH CO COM MAC	MAC	1,669,687	$25.8m0.47%	0.47%	Reduced -1.1m	-1,120,006 -40.1%
58	HIGHWOODS PPTYS INC COM HIW	HIW	964,303	$25.3m0.46%	0.46%	Reduced -627.6k	-627,589 -39.4%
59	NNN REIT INC COM NNN	NNN	576,423	$24.6m0.45%	0.45%	Added +275.2k	+275,248 91.4%
60	CALIFORNIA WTR SVC GROUP COM CWT	CWT	479,439	$23.2m0.43%	0.43%	Added +302.2k	+302,214 170.5%
61	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	763,329	$22.1m0.40%	0.40%	New
62	ELME COMMUNITIES SH BEN INT ELME	ELME	1,369,403	$21.8m0.40%	0.40%	Added +884.9k	+884,924 182.7%
63	DOMINION ENERGY INC COM D	D	369,494	$18.1m0.33%	0.33%	Unchanged
64	BROOKFIELD INFRAST PARTNERS LP INT UNIT BIP	BIP	653,300	$17.9m0.33%	0.33%	Added +72.3k	+72,289 12.4%
65	DIGITAL RLTY TR INC COM DLR	DLR	114,181	$17.4m0.32%	0.32%	Added +19.2k	+19,180 20.2%
66	BROADSTONE NET LEASE INC COM BNL	BNL	1,078,392	$17.1m0.31%	0.31%	Reduced -1.4m	-1,443,275 -57.2%
67	CLEARWAY ENERGY INC CL C CWEN	CWEN	593,656	$14.7m0.27%	0.27%	Unchanged
68	AMERICAN HOMES 4 RENT CL A AMH	AMH	388,059	$14.4m0.26%	0.26%	Reduced -503.1k	-503,114 -56.5%
69	VENTAS INC COM VTR	VTR	277,447	$14.2m0.26%	0.26%	Reduced -855.5k	-855,484 -75.5%
70	KITE RLTY GROUP TR COM NEW KRG	KRG	615,597	$13.8m0.25%	0.25%	Added +164.4k	+164,395 36.4%
71	NATIONAL STORAGE AFFILIATES COM SHS BEN IN NSA	NSA	316,068	$13.0m0.24%	0.24%	Unchanged
72	CONSTELLATION ENERGY CORP COM CEG	CEG	62,465	$12.5m0.23%	0.23%	Reduced -93.7k	-93,729 -60.0%
73	EVERSOURCE ENERGY COM ES	ES	219,929	$12.5m0.23%	0.23%	Reduced -373.8k	-373,823 -63.0%
74	VERIS RESIDENTIAL INC COM COM		795,377	$11.9m0.22%	0.22%	Reduced -32.6k	-32,590 -3.9%
75	ACADIA RLTY TR COM SH BEN INT AKR	AKR	644,136	$11.5m0.21%	0.21%	Reduced -159.8k	-159,826 -19.9%
76	AMERICAN WTR WKS CO INC NEW COM AWK	AWK	85,072	$11.0m0.20%	0.20%	Added +81.8k	+81,755 2464.7%
77	HEALTHCARE RLTY TR CL A COM HR	HR	666,620	$11.0m0.20%	0.20%	Unchanged
78	AMEREN CORP COM AEE	AEE	152,027	$10.8m0.20%	0.20%	New
79	MARRIOTT INTL INC NEW CL A MAR	MAR	44,671	$10.8m0.20%	0.20%	Added +3.6k	+3,585 8.7%
80	EMPIRE ST RLTY TR INC CL A ESRT	ESRT	1,129,271	$10.6m0.19%	0.19%	Reduced -445.8k	-445,782 -28.3%
81	BXP INC COM BXP	BXP	171,674	$10.6m0.19%	0.19%	Added +62.2k	+62,165 56.8%
82	ESSENTIAL UTILS INC COM WTRG	WTRG	273,803	$10.2m0.19%	0.19%	Added +14.7k	+14,677 5.7%
83	NETSTREIT CORP COM NTST	NTST	620,738	$10.0m0.18%	0.18%	Added +219.2k	+219,189 54.6%
84	TANGER INC COM SKT	SKT	357,723	$9.7m0.18%	0.18%	Added +25.0k	+25,022 7.5%
85	PIEDMONT OFFICE REALTY TR IN COM CL A PDM	PDM	1,328,817	$9.6m0.18%	0.18%	Reduced -52.3k	-52,292 -3.8%
86	KILROY RLTY CORP COM KRC	KRC	281,090	$8.8m0.16%	0.16%	Reduced -517.8k	-517,817 -64.8%
87	FIRST INDL RLTY TR INC COM FR	FR	147,203	$7.0m0.13%	0.13%	New
88	ALPS ETF TR ALERIAN MLP AMLP	AMLP	141,981	$6.8m0.12%	0.12%	Reduced -3.1k	-3,093 -2.1%
89	HYATT HOTELS CORP COM CL A H	H	39,843	$6.1m0.11%	0.11%	Added +37.0k	+36,986 1294.6%
90	MID-AMER APT CMNTYS INC COM MAA	MAA	38,563	$5.5m0.10%	0.10%	Added +4.6k	+4,559 13.4%
91	VORNADO RLTY TR SH BEN INT VNO	VNO	181,325	$4.8m0.09%	0.09%	Added +3.2k	+3,230 1.8%
92	UNITI GROUP INC COM COM		1,374,800	$4.0m0.07%	0.07%	Unchanged
93	MEDICAL PPTYS TRUST INC COM MPT	MPT	640,100	$2.8m0.05%	0.05%	Reduced -210.0k	-210,000 -24.7%
94	WEYERHAEUSER CO MTN BE COM NEW WY	WY	92,798	$2.6m0.05%	0.05%	Reduced -49.7k	-49,732 -34.9%
95	ALLIANT ENERGY CORP COM LNT	LNT	50,697	$2.6m0.05%	0.05%	Reduced -15.3k	-15,299 -23.2%
96	UNION PAC CORP COM UNP	UNP	9,895	$2.2m0.04%	0.04%	Reduced -91.5k	-91,471 -90.2%
97	HUDSON PAC PPTYS INC COM COM		454,631	$2.2m0.04%	0.04%	Unchanged
98	CENTERSPACE COM CSR	CSR	29,004	$2.0m0.04%	0.04%	Added +1.2k	+1,191 4.3%
99	Essential Properties Realty COM COM		58,150	$1.6m0.03%	0.03%	New
100	NORFOLK SOUTHN CORP COM NSC	NSC	7,446	$1.6m0.03%	0.03%	Reduced -105.7k	-105,662 -93.4%

Sold out since Q1 2024

Security	Ticker	Shares held before	Value then
APARTMENT INCOME REIT CORP AIRC	AIRC	2,454,651	$79.7m2.5m shares
SOUTHERN CO SO	SO	613,265	$44.0m613.3k shares
PUBLIC SVC ENTERPRISE GRP IN PEG	PEG	321,700	$21.5m321.7k shares
PINNACLE WEST CAP CORP PNW	PNW	271,504	$20.3m271.5k shares
SPIRE INC SR	SR	137,287	$8.4m137.3k shares
KIMCO RLTY CORP KIM	KIM	163,796	$3.2m163.8k shares