Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Shares
Description
(1)
Value
Real
Estate
-
3.4%
116,038
City
Developments
Ltd
$
645,821
7,884
Covivio
SA/France
381,949
138,469
Daiwa
House
Industry
Co
Ltd
3,763,846
32,359
Dexus
179,238
49,907
Klepierre
SA
1,328,853
158,131
Lendlease
Corp
Ltd
919,583
57,303
Scentre
Group
108,504
100,886
Swire
Pacific
Ltd
840,210
127,849
Swire
Properties
Ltd
319,676
27,330
Unibail-Rodamco-Westfield
(2)
1,553,641
107,707
Vonovia
SE
2,522,300
Total
Real
Estate
12,563,621
Utilities
-
2.5%
206,037
Iberdrola
SA
(3)
2,579,471
370,823
National
Grid
PLC
4,921,486
24,299
SSE
PLC
526,960
15,541
Verbund
AG
1,291,102
Total
Utilities
9,319,019
Total
Common
Stocks
(cost
$328,191,887)
368,348,262
Total
Long-Term
Investments
(cost
$328,191,887)
368,348,262
Other
Assets
&
Liabilities,
Net
-
0.3%
1,059,861
Net
Assets
-
100%
$
369,408,123
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
365,768,791
$
–
$
2,579,471
$
368,348,262
Total
$
365,768,791
$
–
$
2,579,471
$
368,348,262