CBRE Clarion Global Real Estate Income Fund

Portfolio of Investments (unaudited)

March 31, 2021

Shares			Market Value
		Real Estate Securities*- 129.4%
		Common Stock - 115.8%
		Australia - 5.0%
	2,563,992	Dexus	$	19,040,429
	665,063	Goodman Group		9,178,600
	2,477,595	Ingenia Communities Group		9,548,525
	9,266,266	Vicinity Centres		11,680,413
				49,447,967
		Belgium - 1.7%
	147,379	Shurgard Self Storage SA		6,729,382
	296,029	Warehouses De Pauw CVA		9,804,462
				16,533,844
		Canada - 2.2%
	261,232	Boardwalk Real Estate Investment Trust		7,546,910
	151,916	Canadian Apartment Properties REIT		6,510,081
	669,200	H&R Real Estate Investment Trust		7,592,626
				21,649,617
		Finland - 1.1%
	558,772	Kojamo OYJ		10,954,163
		Germany - 7.4%
	293,937	ADLER Group SA (a)		8,070,039
	604,777	alstria office REIT-AG		9,794,742
	157,643	Grand City Properties SA		3,957,532
	152,405	LEG Immobilien SE		20,090,269
	482,755	Vonovia SE		31,603,160
				73,515,742
		Hong Kong - 7.7%
	2,290,000	CK Asset Holdings Ltd.		13,902,977
	2,586,070	Link REIT		23,550,702
	6,814,000	Sino Land Co. Ltd.		9,483,305
	1,259,000	Sun Hung Kai Properties Ltd.		19,076,616
	3,133,600	Swire Properties Ltd.		9,693,687
				75,707,287
		Ireland - 0.8%
	5,817,833	Hibernia REIT PLC		7,548,816
		Japan - 10.7%
	8,213	AEON REIT Investment Corp.		11,074,543
	2,147	Kenedix Office Investment Corp.		15,291,303
	4,112	Kenedix Residential Next Investment Corp.		8,037,937
	10,695	LaSalle Logiport REIT		16,240,914
	551,500	Mitsui Fudosan Co., Ltd.		12,544,753
	730	Nippon Building Fund, Inc.		4,300,724
	422,600	Nomura Real Estate Holdings, Inc.		10,192,118
	10,959	Orix JREIT, Inc.		19,081,553
	1,567,200	Tokyu Fudosan Holdings Corp.		9,289,737
				106,053,582

Shares			Market Value
		Mexico - 1.5%
	6,890,088	Prologis Property Mexico SA de CV	$	14,884,382
		Singapore - 5.8%
	9,381,444	CapitaLand China Trust		9,565,777
	6,879,700	CapitaLand Integrated Commercial Trust		11,111,156
	9,156,300	CapitaLand Ltd.		25,623,465
	663,000	City Developments Ltd.		3,937,734
	8,338,000	Keppel REIT		7,570,974
				57,809,106
		Sweden - 1.4%
	606,823	Castellum AB		13,408,684
		United Kingdom - 4.6%
	601,780	Big Yellow Group PLC		9,257,579
	2,174,586	Grainger PLC		8,004,740
	1,816,934	Segro PLC		23,503,988
	3,140,193	Target Healthcare REIT PLC		4,913,084
				45,679,391
		United States - 65.9%
	111,194	Alexandria Real Estate Equities, Inc.		18,269,174
	309,885	American Tower Corp.		74,081,108
	490,055	Apartment Income REIT Corp.		20,954,752
	1,011,770	Brixmor Property Group, Inc.		20,468,107
	225,099	Camden Property Trust		24,740,631
	342,458	Crown Castle International Corp. (b)		58,947,296
	695,662	CubeSmart		26,316,893
	134,104	CyrusOne, Inc.		9,081,523
	1,021,997	Duke Realty Corp.		42,852,334
	219,553	Extra Space Storage, Inc.		29,101,750
	615,723	Healthcare Trust of America, Inc., Class A		16,981,640
	290,925	Highwoods Properties, Inc.		12,492,319
	161,029	Hilton Worldwide Holdings, Inc. (a)(b)		19,471,627
	549,376	Hudson Pacific Properties, Inc.		14,904,571
	374,123	Invitation Homes, Inc.		11,968,195
	341,841	Life Storage, Inc. (b)		29,381,234
	676,971	MGM Growth Properties LLC, Class A		22,082,794
	119,400	Mid-America Apartment Communities, Inc.		17,236,584
	696,892	Piedmont Office Realty Trust, Inc., Class A		12,105,014
	539,944	Prologis, Inc.		57,234,064
	492,606	Simon Property Group, Inc. (b)		56,043,785
	303,755	STORE Capital Corp.		10,175,793
	285,785	Ventas, Inc.		15,243,772
	812,218	VEREIT, Inc.		31,367,859
				651,502,819
		Total Common Stock
		(cost $1,003,028,802)		1,144,695,400

See previously submitted notes to financial statements for the annual period ended December 31, 2020.

CBRE Clarion Global Real Estate Income Fund

Portfolio of Investments (unaudited) continued

March 31, 2021

Shares			Market Value
		Preferred Stock - 13.6%
		United States - 13.6%
	525,265	American Homes 4 Rent, Series D, 6.500%	$	13,294,457
	500,302	Digital Realty Trust, Inc., Series C, 6.625%		12,682,656
	245,403	Digital Realty Trust, Inc., Series J, 5.250%		6,508,087
	301,100	Digital Realty Trust, Inc., Series L, 5.200%		8,024,315
	282,200	Federal Realty Investment Trust, Series C, 5.000%		7,447,258
	405,900	National Storage Affiliates Trust, Series A, 6.000%		10,723,878
	600,000	Pebblebrook Hotel Trust, Series D, 6.375%		14,790,000
	383,644	Pebblebrook Hotel Trust, Series E, 6.375%		9,449,152
	541,950	Pebblebrook Hotel Trust, Series F, 6.300%		13,142,287
	143,517	Rexford Industrial Realty, Inc., Series B, 5.875%		3,692,693
	225,000	Summit Hotel Properties, Inc., Series D, 6.450%		5,679,000
	287,077	Summit Hotel Properties, Inc., Series E, 6.250%		7,047,741
	475,700	Sunstone Hotel Investors, Inc., Series E, 6.950%		12,035,210
	379,377	Sunstone Hotel Investors, Inc., Series F, 6.450%		9,598,238
		Total Preferred Stock
		(cost $131,977,732)		134,114,972
		Total Investments - 129.4%
		(cost $1,135,006,534)		1,278,810,372
		Liabilities in Excess of Other Assets - (29.4)%		(290,890,699	)
		Net Assets - 100.0%	$	987,919,673

Number of   Contracts			Notional Amount		Market    Value
		Written Call Options - (0.1)%
		United States - (0.1)%
	(1,700)	Crown Castle International Corp. Expires 4/16/2021 Strike Price $175.00		170,000	$	(323,000	)
	(800)	Hilton Worldwide Holdings, Inc. Expires 4/16/2021 Strike Price $130.00		80,000		(52,000	)
	(1,700)	Life Storage, Inc. Expires 4/16/2021 Strike Price $90.00		170,000		(46,750	)
	(2,400)	Simon Property Group, Inc. Expires 4/16/2021 Strike Price $130.00		240,000		(108,000	)
		Total Written Call Options (Premiums Received $645,263)			$	(529,750	)

* 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, 2021 is $80,852,000.

See previously submitted notes to financial statements for the annual period ended December 31, 2020.

CBRE Clarion Global Real Estate Income Fund

Portfolio of Investments (unaudited) concluded

March 31, 2021

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, 2021.

Assets	Level 1			Level 2			Level 3		Total
Investments in Real Estate Securities
Common Stock
Australia	$	49,447,967		$	–		$	–	$	49,447,967
Belgium		16,533,844			–			–		16,533,844
Canada		21,649,617			–			–		21,649,617
Finland		10,954,163			–			–		10,954,163
Germany		73,515,742			–			–		73,515,742
Hong Kong		75,707,287			–			–		75,707,287
Ireland		7,548,816			–			–		7,548,816
Japan		106,053,582			–			–		106,053,582
Mexico		14,884,382			–			–		14,884,382
Singapore		57,809,106			–			–		57,809,106
Sweden		13,408,684			–			–		13,408,684
United Kingdom		45,679,391			–			–		45,679,391
United States		651,502,819			–			–		651,502,819
Total Common Stock		1,144,695,400			–			–		1,144,695,400
Preferred Stock
United States		134,114,972			–			–		134,114,972
Total Investment in Real Estate Securities	$	1,278,810,372		$	–		$	–	$	1,278,810,372
Liabilities
Other Financial Instruments
Written Call Options	$	(483,000	)	$	(46,750	)	$	–	$	(529,750)
Total Liabilities	$	(483,000	)	$	(46,750	)	$	–	$	(529,750)

See previously submitted notes to financial statements for the annual period ended December 31, 2020.