CBRE Investment Management Listed Real Assets LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), CBRE Investment Management Listed Real Assets LLC reported 108 stock positions worth $5.4 billion. Its top holding was Realty Income (O) at 6.0% of the portfolio, followed by Equinix (EQIX, 5.8%) and Simon Property (SPG, 5.4%). Compared with Q4 2023, it opened 8 new positions, sold out of 8, added to 34 and reduced 55. The biggest buy was Realty Income (O, shares +172%) and the biggest sale an exit from Spirit Realty Capital (SRC).
- Most Recent 13F
- Q2 2026
- Location
- RADNOR, PA
- CIK
- 0001033984
- Portfolio Value
- $5.4B (Q1 2024)
- SEC Filing
- 0001033984-24-000003 ↗ filed May 10, 2024
Holdings Value
Holdings 108 stocks · $5.4B
| O Realty Income Corp. | 5.95% | 5,910,614 | $319.8M | Add +172.2% |
| EQIX Equinix Inc. | 5.84% | 379,718 | $313.4M | Add +30.1% |
| SPG Simon Property Group Inc. | 5.38% | 1,846,877 | $289.0M | Reduce -8.7% |
| PSA Public Storage | 5.03% | 931,329 | $270.1M | Reduce -15.3% |
| WELL Welltower Inc. | 4.92% | 2,828,262 | $264.3M | Reduce -1.9% |
| PLD Prologis Inc. | 3.92% | 1,616,535 | $210.5M | Add +0.4% |
| REXR Rexford Industrial Realty Inc. | 3.33% | 3,560,376 | $179.1M | Add +10.4% |
| AMT American Tower Corp. | 2.66% | 722,579 | $142.8M | Reduce -10.6% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 2.39% | 999,077 | $128.5M | Add +155.7% |
| NEE Nextera Energy Inc. | 2.34% | 1,964,018 | $125.5M | Reduce -11.6% |
| INVH Invitation Homes Inc. | 2.33% | 3,516,335 | $125.2M | Reduce -23.1% |
| CUBE Cubesmart | 2.27% | 2,701,660 | $122.2M | Reduce -11.3% |
| AVB Avalonbay Communities Inc. | 2.18% | 631,595 | $117.2M | Reduce -24.4% |
| ARE Alexandria Real Estate Equit | 2.18% | 906,325 | $116.8M | Reduce -6.0% |
| CSX CSX Corp. | 1.83% | 2,658,511 | $98.6M | Reduce -3.5% |
| DOC Healthpeak Properties Inc. | 1.82% | 5,201,021 | $97.5M | Add +10.6% |
| SBAC SBA Communications Corp. | 1.79% | 442,949 | $96.0M | Reduce -4.5% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 1.74% | 3,138,150 | $93.5M | Add +26.5% |
| AES AES Corp. | 1.64% | 4,923,746 | $88.3M | Add +55.4% |
| CCI Crown Castle Inc. | 1.62% | 822,397 | $87.0M | Reduce -23.7% |
| WEC WEC Energy Group Inc. | 1.58% | 1,033,563 | $84.9M | Reduce -1.6% |
| AIRC Apartment Income REIT Co. | 1.48% | 2,454,651 | $79.7M | Reduce -4.4% |
| SRE Sempra | 1.36% | 1,017,553 | $73.1M | Reduce -13.5% |
| BRX Brixmor Property Group Inc. | 1.30% | 2,985,420 | $70.0M | Reduce -8.1% |
| TRGP Targa Resources Corp. | 1.29% | 618,218 | $69.2M | Reduce -16.1% |
| EXR Extra Space Storage Inc. | 1.25% | 456,290 | $67.1M | Add +276.1% |
| PPL PPL Corp. | 1.12% | 2,180,204 | $60.0M | Reduce -5.8% |
| PK Park Hotels & Resorts Inc. | 1.09% | 3,357,311 | $58.7M | Add +1.4% |
| HST Host Hotels & Resorts Inc. | 1.04% | 2,709,495 | $56.0M | Reduce -20.8% |
| PCG P G & E Corp. | 0.99% | 3,160,456 | $53.0M | Add +16.8% |
| VTR Ventas Inc. | 0.92% | 1,132,931 | $49.3M | Reduce -23.8% |
| MAC The Macerich Co. | 0.90% | 2,789,693 | $48.1M | Add +20.5% |
| OGE Oge Energy Corp. | 0.87% | 1,357,699 | $46.6M | Reduce -8.8% |
| ESS Essex Property Trust Inc. | 0.85% | 186,166 | $45.6M | Reduce -60.9% |
| ATO Atmos Energy Corp. | 0.85% | 382,001 | $45.4M | Add +7486.9% |
| CMS CMS Energy Corp. | 0.83% | 740,680 | $44.7M | Reduce -26.7% |
| SO The Southern Co. | 0.82% | 613,265 | $44.0M | Reduce -23.7% |
| HIW Highwoods Properties Inc. | 0.78% | 1,591,892 | $41.7M | Add +62.7% |
| BNL Broadstone Net Lease Inc. | 0.74% | 2,521,667 | $39.5M | Reduce -11.8% |
| REG Regency Centers Corp. | 0.69% | 612,149 | $37.1M | Add +62.8% |
| CPT Camden Property Trust | 0.67% | 367,497 | $36.2M | Reduce -42.5% |
| DUK Duke Energy Corp. | 0.67% | 370,801 | $35.9M | Reduce -14.1% |
| ES Eversource Energy | 0.66% | 593,752 | $35.5M | Reduce -1.2% |
| XIFR XPLR Infrastructure LP filed as NEXTERA ENERGY PARTNERS LP | 0.64% | 1,140,215 | $34.3M | Add +4.9% |
| ALE Allete Inc. | 0.62% | 562,378 | $33.5M | Add +0.4% |
| NI Nisource Inc. | 0.61% | 1,185,326 | $32.8M | Add +16.3% |
| AMH American Homes 4 Rent- A | 0.61% | 891,173 | $32.8M | Add +566.8% |
| HLT Hilton Worldwide Holdings Inc. | 0.60% | 151,350 | $32.3M | Add +14.5% |
| SHO Sunstone Hotel Investors Inc. | 0.59% | 2,839,203 | $31.6M | Reduce -10.4% |
| POR Portland General Electric Co. | 0.56% | 722,193 | $30.3M | Add +79.3% |
| KRC Kilroy Realty Corp. | 0.54% | 798,907 | $29.1M | Reduce -31.7% |
| ROIC Retail Opportunity Investmen | 0.54% | 2,260,008 | $29.0M | Add +18.3% |
| FCPT Four Corners Property Trust | 0.54% | 1,183,873 | $29.0M | Reduce -10.4% |
| CEG Constellation Energy | 0.54% | 156,194 | $28.9M | Reduce -28.9% |
| NSC Norfolk Southern Corp. | 0.54% | 113,108 | $28.8M | New |
| XEL Xcel Energy Inc. | 0.53% | 527,648 | $28.4M | Add +1504.4% |
| UNP Union Pacific Corp. | 0.46% | 101,366 | $24.9M | Reduce -55.3% |
| PEG Public Service Enterprise GP | 0.40% | 321,700 | $21.5M | No change |
| PNW Pinnacle West Capital | 0.38% | 271,504 | $20.3M | New |
| D Dominion Energy Inc. | 0.34% | 369,494 | $18.2M | No change |
| FRT Federal Realty Invs Trust | 0.34% | 177,858 | $18.2M | Add +1.0% |
| BIP Brookfield Infrastructure Pa | 0.34% | 581,011 | $18.1M | Add +16.2% |
| RHP Ryman Hospitality Properties | 0.32% | 148,888 | $17.2M | Reduce -43.8% |
| ESRT Empire State Realty Trust-A | 0.30% | 1,575,053 | $16.0M | Reduce -36.2% |
| KMI Kinder Morgan Inc. | 0.29% | 856,733 | $15.7M | Reduce -65.2% |
| DLR Digital Realty Trust Inc. | 0.25% | 95,001 | $13.7M | Add +44.7% |
| CWEN Clearway Energy Inc. Class C | 0.25% | 593,656 | $13.7M | No change |
| AKR Acadia Realty Trust | 0.25% | 803,962 | $13.7M | Add +54.0% |
| ADC Agree Realty Corp. | 0.25% | 238,991 | $13.7M | Add +57.4% |
| LNG Cheniere Energy Inc. | 0.25% | 81,975 | $13.2M | Reduce -76.2% |
| NNN NNN REIT Inc. | 0.24% | 301,175 | $12.9M | Reduce -1.6% |
| VRE Veris Residential Inc. | 0.23% | 827,967 | $12.6M | Add +8.3% |
| NSA National Storage Affiliates | 0.23% | 316,068 | $12.4M | No change |
| PAGP Plains GP Holdings LP | 0.20% | 588,835 | $10.7M | Add +1986.0% |
| MAR Marriott International Class A | 0.19% | 41,086 | $10.4M | Reduce -40.8% |
| SKT Tanger Inc. | 0.18% | 332,701 | $9.8M | Reduce -41.2% |
| KRG Kite Realty Group Trust | 0.18% | 451,202 | $9.8M | Add +22.3% |
| PDM Piedmont Realty Trust Inc. | 0.18% | 1,381,109 | $9.7M | Reduce -4.7% |
| CUZ Cousins Properties Inc. | 0.18% | 400,991 | $9.6M | New |
| WTRG Essential Utilities Inc. | 0.18% | 259,126 | $9.6M | Add +155.3% |
| HR Healthcare Realty Trust Inc. | 0.18% | 666,620 | $9.4M | No change |
| SR Spire Inc. | 0.16% | 137,287 | $8.4M | New |
| CWT California Water Service Grp | 0.15% | 177,225 | $8.2M | New |
| UNIT Uniti Group LLC Com SHS | 0.15% | 1,374,800 | $8.1M | No change |
| NTST Netstreit Corp. | 0.14% | 401,549 | $7.4M | New |
| BXP BXP Inc. filed as BOSTON PROPERTIES INC | 0.13% | 109,509 | $7.2M | Add +12.8% |
| AMLP Alerian MLP ETF | 0.13% | 145,074 | $6.9M | Reduce -9.9% |
| IRT Independence Realty Trust Inc. | 0.13% | 418,300 | $6.7M | No change |
| ELME Elme Communities | 0.13% | 484,479 | $6.7M | Add +4.4% |
| STAG Stag Industrial Inc. | 0.12% | 164,625 | $6.3M | No change |
| VNO Vornado Realty Trust | 0.10% | 178,095 | $5.1M | Reduce -82.3% |
| WY Weyerhaeuser Co. | 0.10% | 142,530 | $5.1M | Reduce -37.2% |
| MAA Mid-America Apartment Comm | 0.08% | 34,004 | $4.5M | Reduce -22.1% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.08% | 70,412 | $4.4M | No change |
| MPT Medical Properties Trust Inc. | 0.07% | 850,100 | $4.0M | No change |
| LNT Alliant Energy Corp. | 0.06% | 65,996 | $3.3M | Reduce -40.7% |
| KIM Kimco Realty Corp. | 0.06% | 163,796 | $3.2M | New |
| HUDSON PAC PPTYS INC | 0.05% | 454,631 | $2.9M | No change |
| UDR Udr Inc. | 0.03% | 47,039 | $1.8M | New |
| CSR Centerspace | 0.03% | 27,813 | $1.6M | Reduce -5.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $32.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 822,000 | $32.0M | Add +10.9% |
Total filed on the 13F, all lines: $5.4B.
Portfolio Sells Q4 2023 → Q1 2024
| SRC Spirit Realty Capital Inc. | Sold out | 0.00% | −2.15 |
| ESS Essex Property Trust Inc. | Reduce -60.9% | 0.85% | −1.32 |
| PSA Public Storage | Reduce -15.3% | 5.03% | −1.11 |
| LNG Cheniere Energy Inc. | Reduce -76.2% | 0.25% | −0.83 |
| AVB Avalonbay Communities Inc. | Reduce -24.4% | 2.18% | −0.68 |
| CCI Crown Castle Inc. | Reduce -23.7% | 1.62% | −0.66 |
| UNP Union Pacific Corp. | Reduce -55.3% | 0.46% | −0.56 |
| AMT American Tower Corp. | Reduce -10.6% | 2.66% | −0.54 |
| INVH Invitation Homes Inc. | Reduce -23.1% | 2.33% | −0.53 |
| KMI Kinder Morgan Inc. | Reduce -65.2% | 0.29% | −0.50 |
| CPT Camden Property Trust | Reduce -42.5% | 0.67% | −0.49 |
| VTR Ventas Inc. | Reduce -23.8% | 0.92% | −0.44 |
| VNO Vornado Realty Trust | Reduce -82.3% | 0.10% | −0.43 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −0.43 |
| SBAC SBA Communications Corp. | Reduce -4.5% | 1.79% | −0.37 |
| CUBE Cubesmart | Reduce -11.3% | 2.27% | −0.32 |
| KRC Kilroy Realty Corp. | Reduce -31.7% | 0.54% | −0.31 |
| TCN Tricon Residential Inc. | Sold out | 0.00% | −0.30 |
| SRE Sempra | Reduce -13.5% | 1.36% | −0.25 |
| CMS CMS Energy Corp. | Reduce -26.7% | 0.83% | −0.24 |
| SO The Southern Co. | Reduce -23.7% | 0.82% | −0.21 |
| RHP Ryman Hospitality Properties | Reduce -43.8% | 0.32% | −0.21 |
| HST Host Hotels & Resorts Inc. | Reduce -20.8% | 1.04% | −0.18 |
| BNL Broadstone Net Lease Inc. | Reduce -11.8% | 0.74% | −0.17 |
| AIRC Apartment Income REIT Co. | Reduce -4.4% | 1.48% | −0.15 |
| ESRT Empire State Realty Trust-A | Reduce -36.2% | 0.30% | −0.14 |
| NEE Nextera Energy Inc. | Reduce -11.6% | 2.34% | −0.14 |
| SKT Tanger Inc. | Reduce -41.2% | 0.18% | −0.10 |
| DUK Duke Energy Corp. | Reduce -14.1% | 0.67% | −0.10 |
| MAR Marriott International Class A | Reduce -40.8% | 0.19% | −0.09 |
| OGE Oge Energy Corp. | Reduce -8.8% | 0.87% | −0.09 |
| H Hyatt Hotels Corp. Class A | Reduce -92.6% | 0.01% | −0.08 |
| BRX Brixmor Property Group Inc. | Reduce -8.1% | 1.30% | −0.08 |
| FCPT Four Corners Property Trust | Reduce -10.4% | 0.54% | −0.07 |
| ARE Alexandria Real Estate Equit | Reduce -6.0% | 2.18% | −0.07 |
| SITC Site Centers Corp. | Sold out | 0.00% | −0.06 |
| WY Weyerhaeuser Co. | Reduce -37.2% | 0.10% | −0.05 |
| AEE Ameren Corporation | Sold out | 0.00% | −0.05 |
| LNT Alliant Energy Corp. | Reduce -40.7% | 0.06% | −0.04 |
| WEC WEC Energy Group Inc. | Reduce -1.6% | 1.58% | −0.04 |
| SHO Sunstone Hotel Investors Inc. | Reduce -10.4% | 0.59% | −0.03 |
| PPL PPL Corp. | Reduce -5.8% | 1.12% | −0.03 |
| EXC Exelon Corp. | Sold out | 0.00% | −0.03 |
| MAA Mid-America Apartment Comm | Reduce -22.1% | 0.08% | −0.02 |
| BDN Brandywine Realty Trust | Sold out | 0.00% | −0.02 |
| ES Eversource Energy | Reduce -1.2% | 0.66% | −0.02 |
| PDM Piedmont Realty Trust Inc. | Reduce -4.7% | 0.18% | −0.01 |
| ENLC Enlink Midstream LLC | Sold out | 0.00% | −0.01 |
| NNN NNN REIT Inc. | Reduce -1.6% | 0.24% | −0.00 |
| CSR Centerspace | Reduce -5.2% | 0.03% | −0.00 |
Portfolio Buys Q4 2023 → Q1 2024
| O Realty Income Corp. | Add +172.2% | 5.95% | +3.67 |
| EQIX Equinix Inc. | Add +30.1% | 5.84% | +1.52 |
| SUI Sun Communities Inc. | Add +155.7% | 2.39% | +1.43 |
| EXR Extra Space Storage Inc. | Add +276.1% | 1.25% | +0.89 |
| ATO Atmos Energy Corp. | Add +7486.9% | 0.85% | +0.83 |
| NSC Norfolk Southern Corp. | New | 0.54% | +0.54 |
| AES AES Corp. | Add +55.4% | 1.64% | +0.53 |
| AMH American Homes 4 Rent- A | Add +566.8% | 0.61% | +0.52 |
| XEL Xcel Energy Inc. | Add +1504.4% | 0.53% | +0.49 |
| PNW Pinnacle West Capital | New | 0.38% | +0.38 |
| HIW Highwoods Properties Inc. | Add +62.7% | 0.78% | +0.36 |
| VICI Vici Properties Inc. | Add +26.5% | 1.74% | +0.29 |
| POR Portland General Electric Co. | Add +79.3% | 0.56% | +0.24 |
| MAC The Macerich Co. | Add +20.5% | 0.90% | +0.24 |
| REG Regency Centers Corp. | Add +62.8% | 0.69% | +0.23 |
| PAGP Plains GP Holdings LP | Add +1986.0% | 0.20% | +0.19 |
| CUZ Cousins Properties Inc. | New | 0.18% | +0.18 |
| PK Park Hotels & Resorts Inc. | Add +1.4% | 1.09% | +0.16 |
| HLT Hilton Worldwide Holdings Inc. | Add +14.5% | 0.60% | +0.16 |
| SR Spire Inc. | New | 0.16% | +0.16 |
| CWT California Water Service Grp | New | 0.15% | +0.15 |
| NTST Netstreit Corp. | New | 0.14% | +0.14 |
| NI Nisource Inc. | Add +16.3% | 0.61% | +0.11 |
| WTRG Essential Utilities Inc. | Add +155.3% | 0.18% | +0.11 |
| DOC Healthpeak Properties Inc. | Add +10.6% | 1.82% | +0.11 |
| DLR Digital Realty Trust Inc. | Add +44.7% | 0.25% | +0.09 |
| AKR Acadia Realty Trust | Add +54.0% | 0.25% | +0.09 |
| PCG P G & E Corp. | Add +16.8% | 0.99% | +0.09 |
| ADC Agree Realty Corp. | Add +57.4% | 0.25% | +0.08 |
| KIM Kimco Realty Corp. | New | 0.06% | +0.06 |
| BIP Brookfield Infrastructure Pa | Add +16.2% | 0.34% | +0.05 |
| ROIC Retail Opportunity Investmen | Add +18.3% | 0.54% | +0.05 |
| UDR Udr Inc. | New | 0.03% | +0.03 |
| XIFR XPLR Infrastructure LP | Add +4.9% | 0.64% | +0.03 |
| KRG Kite Realty Group Trust | Add +22.3% | 0.18% | +0.03 |
| REXR Rexford Industrial Realty Inc. | Add +10.4% | 3.33% | +0.02 |
| VRE Veris Residential Inc. | Add +8.3% | 0.23% | +0.01 |
| BXP BXP Inc. | Add +12.8% | 0.13% | +0.01 |
| FRT Federal Realty Invs Trust | Add +1.0% | 0.34% | +0.01 |
| ELME Elme Communities | Add +4.4% | 0.13% | +0.00 |
| ALE Allete Inc. | Add +0.4% | 0.62% | −0.00 |
| PLD Prologis Inc. | Add +0.4% | 3.92% | −0.01 |
Notes & Other Activity Q4 2023 → Q1 2024
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Add +10.9% | 822,000 | $32.0M |
| AES CORP/THE (AES 6.875 02/15/24) | UNIT 02/15/2024 | Sold out | 331,300 | $25.2Mbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 99 | $7.2B | WELL, EQIX, PLD, AMT, XEL |
| Q1 2026 | 94 | $6.7B | WELL, EQIX, PLD, SPG, XEL |
| Q4 2025 | 95 | $6.8B | WELL, EQIX, PLD, SPG, VICI |
| Q3 2025 | 103 | $7.0B | WELL, EQIX, SPG, PLD, VICI |
| Q2 2025 | 104 | $6.5B | WELL, EQIX, SPG, O, INVH |
| Q1 2025 | 107 | $6.5B | WELL, EQIX, SPG, O, PLD |
| Q4 2024 | 112 | $5.6B | EQIX, O, SPG, WELL, INVH |
| Q3 2024 | 109 | $6.3B | EQIX, O, SPG, WELL, INVH |
| Q2 2024 | 109 | $5.4B | EQIX, O, PSA, SPG, WELL |
| Q1 2024 | 108 | $5.4B | O, EQIX, SPG, PSA, WELL |