CBRE Clarion Global Real Estate Income Fund

Portfolio of Investments (unaudited)

March 31, 2019
Shares		Market             Value ($)
	Real Estate Securities* - 116.0%
	Common Stock - 94.8%
	Australia - 4.1%
2,998,631	GPT Group	$	13,227,779
12,172,094	Mirvac Group		23,777,725
1,452,245	Scentre Group		4,239,884
			41,245,388
	Belgium - 1.5%
140,586	Shurgard Self Storage SA (a)		4,646,520
67,859	Warehouses De Pauw CVA		10,895,952
			15,542,472
	Canada - 3.2%
354,900	Canadian Apartment Properties REIT		13,646,628
520,400	Chartwell Retirement Residences		5,835,242
470,200	Killam Apartment Real Estate Investment Trust		6,828,010
215,200	SmartCentres Real Estate Investment Trust		5,639,547
			31,949,427
	France - 1.1%
65,761	Unibail-Rodamco-Westfield		10,790,938
	Germany - 6.9%
191,784	Deutsche EuroShop AG		5,818,612
396,322	Grand City Properties SA		9,567,717
138,194	LEG Immobilien AG		16,983,479
715,529	Vonovia SE		37,134,611
			69,504,419
	Hong Kong - 7.8%
3,277,200	CK Asset Holdings Ltd.		29,140,130
1,081,700	Hongkong Land Holdings Ltd.		7,690,887
2,880,500	Link REIT		33,685,552
5,232,000	New World Development Co., Ltd.		8,677,844
			79,194,413
	Ireland - 1.0%
7,073,713	Hibernia REIT PLC		10,659,127
	Japan - 10.0%
4,186	AEON REIT Investment Corp.		4,939,166
579,584	Hulic Co. Ltd.		5,686,662
3,510	Hulic Reit, Inc.		5,987,153
15,770	Japan Hotel REIT Investment Corp.		12,723,142
1,098	Kenedix Office Investment Corp.		7,628,513
492,400	Mitsubishi Estate Co. Ltd.		8,921,789
932,200	Mitsui Fudosan Co., Ltd.		23,434,490
282,000	Nomura Real Estate Holdings, Inc.		5,414,013
10,382	Orix JREIT, Inc.		17,830,946
665,200	Tokyo Tatemono Co. Ltd.		8,155,363
			100,721,237
	Mexico - 1.2%
6,043,300	Prologis Property Mexico SA de CV		11,683,142
	Singapore - 1.7%
3,452,300	CapitaLand Ltd.		9,302,987

Shares		Market             Value ($)
	Singapore (continued)
1,247,100	City Developments Ltd.	$	8,332,414
			17,635,401
	Spain - 0.6%
613,729	Inmobiliaria Colonial Socimi SA		6,315,836
	Sweden - 2.2%
516,861	Castellum AB		10,049,905
810,972	Fabege AB		11,803,523
			21,853,428
	United Kingdom - 4.1%
3,124,773	Segro PLC		27,419,076
1,149,176	UNITE Group PLC (The)		13,738,960
			41,158,036
	United States - 49.4%
79,668	Alexandria Real Estate Equities, Inc. (b)		11,357,470
230,640	American Campus Communities, Inc.		10,973,851
30,940	AvalonBay Communities, Inc. (b)		6,210,586
84,389	Camden Property Trust		8,565,483
674,218	Columbia Property Trust, Inc.		15,176,647
1,322,822	Cousins Properties, Inc.		12,778,461
48,140	Crown Castle International Corp. (b)		6,161,920
415,091	CubeSmart		13,299,516
371,491	Douglas Emmett, Inc.		15,015,666
570,859	Duke Realty Corp.		17,456,868
21,806	Equinix, Inc. (b)		9,881,607
371,300	Equity Residential		27,966,316
19,567	Essex Property Trust, Inc. (b)		5,659,559
145,291	Extra Space Storage, Inc. (b)		14,806,606
97,097	Federal Realty Investment Trust (b)		13,384,821
431,712	HCP, Inc.		13,512,586
686,308	Healthcare Trust of America, Inc., Class A		19,621,546
37,532	Hilton Worldwide Holdings, Inc. (b)		3,119,285
580,043	Host Hotels & Resorts, Inc.		10,962,813
330,125	Hudson Pacific Properties, Inc.		11,362,903
677,196	Invitation Homes, Inc.		16,476,179
240,205	Liberty Property Trust		11,630,726
543,616	MGM Growth Properties LLC, Class A		17,531,616
102,359	Pebblebrook Hotel Trust		3,179,271
545,592	Piedmont Office Realty Trust, Inc., Class A		11,375,593
185,097	Prologis, Inc.		13,317,729
47,748	Public Storage (b)		10,398,559
254,701	Regency Centers Corp.		17,189,770
175,275	Simon Property Group, Inc. (b)		31,936,858
581,528	STORE Capital Corp.		19,481,188
274,171	Sun Communities, Inc. (b)		32,494,747
197,971	Taubman Centers, Inc.		10,468,706
99,389	Ventas, Inc. (b)		6,342,012
1,874,544	VEREIT, Inc.		15,689,933
477,301	VICI Properties, Inc.		10,443,346
306,180	Welltower, Inc. (b)		23,759,568
			498,990,311
	Total Common Stock
	(cost $880,948,700)		957,243,575

See previously submitted notes to financial statements for the annual period ended December 31, 2018.

CBRE Clarion Global Real Estate Income Fund

Portfolio of Investments (unaudited) continued

March 31, 2019
Shares		Market              Value ($)
	Preferred Stock - 21.2%
	United States - 21.2%
525,265	American Homes 4 Rent, Series D, 6.500%	$	13,919,522
741,000	Brookfield Property REIT, Inc., Series A, 6.375%		18,747,300
500,302	Digital Realty Trust, Inc., Series C, 6.625%		13,147,937
245,403	Digital Realty Trust, Inc., Series J, 5.250%		5,811,143
280,000	EPR Properties, Series G, 5.750%		6,658,400
282,200	Federal Realty Investment Trust, Series C, 5.000%		6,682,496
767,325	iStar, Inc., Series I, 7.500%		19,428,669
284,500	National Storage Affiliates Trust, Series A, 6.000%		7,081,205
500,000	Pebblebrook Hotel Trust, Series D, 6.375%		13,125,000
400,000	Pebblebrook Hotel Trust, Series E, 6.375%		10,520,000
500,000	Pebblebrook Hotel Trust, Series F, 6.300%		12,450,000
272,000	Pennsylvania Real Estate Investment Trust, Series B, 7.375%		5,848,000
341,100	Pennsylvania Real Estate Investment Trust, Series C, 7.200%		7,077,825
600,000	Public Storage, Series B, 5.400%		15,222,000
143,517	Rexford Industrial Realty, Inc., Series B, 5.875%		3,511,861
369,474	SITE Centers Corp., Series J, 6.500%		9,547,208
150,000	STAG Industrial, Inc., Series C, 6.875%		3,963,000
225,000	Summit Hotel Properties, Inc., Series D, 6.450%		5,652,000
287,077	Summit Hotel Properties, Inc., Series E, 6.250%		6,671,669
600,000	Sunstone Hotel Investors, Inc., Series E, 6.950%		16,020,000
379,377	Sunstone Hotel Investors, Inc., Series F, 6.450%		9,685,495
120,000	Taubman Centers, Inc., Series K, 6.250%		3,084,000
	Total Preferred Stock (cost $214,426,340)		213,854,730
	Total Investments - 116.0% (cost $1,095,375,040)		1,171,098,305
	Liabilities in Excess of Other Assets - (16.0)%		(161,380,198	)
	Net Assets - 100.0%	$	1,009,718,107

Number of Contracts	Notional Amount		Market    Value ($)
	Written Call Options - (0.1)%
	United States - (0.1)%
(400)	Alexandria Real Estate Equities, Inc.
	Expires 5/17/2019
	Strike Price $150.00	(40,000)	$            (38,000)
(150)	AvalonBay Communities, Inc.
	Expires 5/17/2019
	Strike Price $210.00	(15,000)	(16,500)
(240)	Crown Castle International Corp.
	Expires 5/17/2019
	Strike Price $130.00	(24,000)	(59,520)
(100)	Equinix, Inc.
	Expires 4/18/2019
	Strike Price $460.00	(10,000)	(48,000)
(100)	Essex Property Trust, Inc.
	Expires 4/18/2019
	Strike Price $300.00	(10,000)	(7,000)
(700)	Extra Space Storage, Inc.
	Expires 4/18/2019
	Strike Price $100.00	(70,000)	(254,800)
(400)	Federal Realty Investment Trust
	Expires 5/17/2019
	Strike Price $145.00	(40,000)	(49,000)
(190)	Hilton Worldwide Holdings, Inc.
	Expires 5/17/2019
	Strike Price $87.50	(19,000)	(20,140)
(230)	Public Storage
	Expires 5/17/2019
	Strike Price $230.00	(23,000)	(37,030)
(800)	Simon Property Group, Inc.
	Expires 5/17/2019
	Strike Price $195.00	(80,000)	(72,800)
(1,000)	Sun Communities, Inc.
	Expires 5/17/2019
	Strike Price $125.00	(100,000)	(50,000)
(500)	Ventas, Inc.
	Expires 5/17/2019
	Strike Price $67.50	(50,000)	(27,500)
(1,500)	Welltower, Inc.
	Expires 5/17/2019
	Strike Price $82.50	(150,000)	(48,750)
	Total Written Call Options (Premiums Received $396,347)		$	(729,040)

* 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.

(b) A portion of the security has been pledged for open written option contracts. The aggregate market value of the collateral as of March 31, 2019 is $79,704,380.

See previously submitted notes to financial statements for the annual period ended December 31, 2018.

CBRE Clarion Global Real Estate Income Fund

Portfolio of Investments (unaudited) concluded

March 31, 2019

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, 2019.

Assets	Level 1			Level 2			Level 3		Total
Investments in Real Estate Securities
Common Stock
Australia	$	41,245,388		$	–		$	–	$	41,245,388
Belgium		15,542,472			–			–		15,542,472
Canada		31,949,427			–			–		31,949,427
France		10,790,938			–			–		10,790,938
Germany		69,504,419			–			–		69,504,419
Hong Kong		79,194,413			–			–		79,194,413
Ireland		10,659,127			–			–		10,659,127
Japan		100,721,237			–			–		100,721,237
Mexico		11,683,142			–			–		11,683,142
Singapore		17,635,401			–			–		17,635,401
Spain		6,315,836			–			–		6,315,836
Sweden		21,853,428			–			–		21,853,428
United Kingdom		41,158,036			–			–		41,158,036
United States		498,990,311			–			–		498,990,311
Total Common Stock		957,243,575			–			–		957,243,575
Preferred Stock
United States		208,202,730			5,652,000			–		213,854,730
Total Investment in Real Estate Securities	$	1,165,446,305		$	5,652,000		$	–	$	1,171,098,305
Liabilities
Other Financial Instruments
Written Call Options	$	(509,790	)	$	(219,250	)	$	–	$	(729,040	)
Total Liabilities	$	(509,790	)	$	(219,250	)	$	–	$	(729,040	)

See previously submitted notes to financial statements for the annual period ended December 31, 2018.