Fund Holdings as of Jul 31, 2018, subject to change

Rank Security Description Quantity Market
Value ($)
% of TMV1
1JPMorgan Chase Commercial Mortgage Securities Trust 2014-C2112,747,500$8,589,557.004.36%
2BENCHMARK Mortgage Trust 2018-B111,500,000$7,183,349.003.65%
3Goldman Sachs Mortgage Securities Trust 2014-GC208,505,000$7,028,824.003.57%
4Wells Fargo Commerical Mortgage Trust 2014-LC188,635,000$5,639,402.002.86%
5Goldman Sachs Mortgage Securities Trust 2014-GC228,326,000$5,510,449.002.80%
6BANK 2017-BNK57,500,000$5,001,161.002.54%
7Morgan Stanley Capital I Trust 2016-UB1118,495,500$4,412,956.002.24%
8CFCRE Commercial Mortgage Trust 2016-C35,484,000$4,352,138.002.21%
9Commercial Mortgage Trust 2013-CCRE115,108,000$3,992,503.002.03%
10CSAIL Commercial Mortgage Trust 2015-C45,000,000$3,893,062.001.98%
11Commercial Mortgage Trust 2014-CCRE175,100,000$3,839,601.001.95%
12Commercial Mortgage Trust 2012-CCRE5 Mortgage Trust4,492,405$3,492,482.001.77%
13JPMorgan Chase Commercial Mortgage Securities Trust 2013-C163,550,483$3,276,835.001.66%
14BANK 2017-BNK95,000,000$3,177,213.001.61%
15Wells Fargo Commercial Mortgage Trust 2015-NXS13,440,000$3,101,561.001.57%
16Goldman Sachs Mortgage Securities Trust 2013-GC133,000,000$2,752,015.001.40%
17Morgan Stanley Bank of America Merrill Lynch Trust 2013-C83,000,000$2,737,926.001.39%
18JPMorgan Chase Commercial Mortgage Securities Trust 2013-C1514,000,000$2,650,694.001.35%
19Bank of America Commercial Mortgage Trust 2016-UBS103,500,000$2,553,835.001.30%
20Morgan Stanley Bank of America Merrill Lynch Trust 2015-C263,576,000$2,528,607.001.28%
21Commercial Mortgage Trust 2014-UBS22,932,500$2,521,289.001.28%
22CD Commercial Mortgage Trust 2017-CD53,000,000$2,463,616.001.25%
23FHLMC Multifamily Structured Pass Through Certificates106,043,998$2,419,421.001.23%
24Wells Fargo Commerical Mortgage Trust 2015-C312,886,000$2,300,517.001.17%
25WPT Industrial Real Estate Investment Trust158,441$2,273,628.001.15%
26Goldman Sachs Mortgage Securities Trust 2013-GC162,342,405$2,264,307.001.15%
27Commercial Mortgage Trust 2014-LC172,780,000$2,209,054.001.12%
28Commercial Mortgage Trust 2014-UBS52,715,000$2,177,186.001.11%
29WFRBS Commercial Mortgage Trust 2014-C202,650,000$2,126,008.001.08%
30Independence Realty Trust, Inc.203,950$2,070,093.001.05%
31Morgan Stanley Bank of America Merrill Lynch Trust 2017-C343,450,000$2,042,308.001.04%
32City Office REIT, Inc.154,362$1,968,116.001.00%
33Essential Properties Realty Trust, Inc.142,103$1,961,021.001.00%
34Crown Castle International Corp.17,153$1,901,067.000.97%
35Morgan Stanley Bank of America Merrill Lynch Trust 2015-C2023,967,000$1,899,936.000.96%
36Merlin Properties Socimi SA127,000$1,878,620.000.95%
37Simon Property Group, Inc.10,600$1,867,826.000.95%
38Prologis, Inc.27,800$1,824,236.000.93%
39Altarea SCA8,069$1,771,985.000.90%
40DBJPM Mortgage Trust 2017-C626,153,749$1,700,015.000.86%
41Tanger Factory Outlet Centers, Inc.71,000$1,693,350.000.86%
42Invitation Homes, Inc.70,223$1,622,854.000.82%
43BANK 2018-BNK122,500,000$1,607,452.000.82%
44Spirit Realty Capital, Inc.190,000$1,590,300.000.81%
45Commercial Mortgage Trust 2012-CCRE21,900,000$1,586,547.000.81%
46Equinix, Inc.3,600$1,581,408.000.80%
47Goldman Sachs Mortgage Securities Trust 2013-GCJ142,000,000$1,568,301.000.80%
48EPR Properties22,800$1,515,972.000.77%
49AvalonBay Communities, Inc.8,300$1,467,855.000.75%
50Cromwell Property Group1,670,000$1,377,207.000.70%
51Commercial Mortgage Pass Through Certificates2,000,000$1,319,918.000.67%
52CFCRE Commercial Mortgage Trust 2016-C71,500,000$1,295,043.000.66%
53JPMorgan Chase Commercial Mortgage Securities Trust 2006-CIBC171,539,945$1,288,321.000.65%
54Link REIT129,500$1,283,608.000.65%
55Mitsui Fudosan Co., Ltd.53,000$1,263,677.000.64%
56Propertylink Group1,569,252$1,235,829.000.63%
57MCUBS MidCity Investment Corp.1,675$1,231,364.000.63%
58Deutsche Wohnen AG24,571$1,196,980.000.61%
59Industrial Logistics Properties Trust51,237$1,183,575.000.60%
60Wells Fargo Commercial Mortgage Trust 2015-NXS31,500,000$1,155,681.000.59%
61Eurocommercial Properties NV26,783$1,133,738.000.58%
62Essex Property Trust, Inc.4,650$1,118,093.000.57%
63Welltower, Inc.17,372$1,087,487.000.55%
64Dream Industrial Real Estate Investment Trust135,000$1,077,219.000.55%
65Commercial Mortgage Trust 2013-LC61,350,000$1,063,351.000.54%
66Alexandria Real Estate Equities, Inc.8,230$1,048,831.000.53%
67Citycon OYJ464,193$977,048.000.50%
68Kenedix Retail REIT Corp.436$951,819.000.48%
69LB-UBS Commercial Mortgage Trust 2006-C71,226,104$947,047.000.48%
70Covivio8,820$919,464.000.47%
71Physicians Realty Trust58,000$914,080.000.46%
72Vicinity Centres460,000$909,074.000.46%
73LEG Immobilien AG8,000$900,306.000.46%
74Japan Hotel REIT Investment Corp.1,200$878,952.000.45%
75Atrium European Real Estate, Ltd.193,021$862,209.000.44%
76JPMorgan Chase Commercial Mortgage Securities Trust 2017-JP611,924,823$837,967.000.43%
77Extended Stay America, Inc.39,000$830,310.000.42%
78NewRiver REIT PLC219,556$789,609.000.40%
79Klepierre SA20,000$754,699.000.38%
80APAC Realty, Ltd.1,469,200$723,079.000.37%
81Sun Communities, Inc.7,443$721,673.000.37%
82Liberty Property Trust16,816$720,734.000.37%
83Park Hotels & Resorts, Inc.22,972$718,564.000.36%
84Frasers Logistics & Industrial Trust925,025$713,465.000.36%
85Apartment Investment & Management Co., Class A16,400$699,460.000.36%
86CubeSmart22,000$667,920.000.34%
87New World Development Co., Ltd.448,000$638,121.000.32%
88Segro PLC69,224$604,219.000.31%
89Dexus80,000$599,115.000.30%
90Invesco Office J-REIT, Inc.3,980$557,054.000.28%
91Arena REIT325,087$555,504.000.28%
92Kimco Realty Corp.32,000$534,080.000.27%
93Kilroy Realty Corp.7,300$532,535.000.27%
94Macquarie Mexico Real Estate Management SA de CV480,000$527,188.000.27%
95Far East Hospitality Trust1,030,000$522,055.000.26%
96Taubman Centers, Inc.7,600$471,580.000.24%
97TLG Immobilien AG18,000$470,640.000.24%
98Charter Hall Group93,167$463,071.000.23%
99STAG Industrial, Inc.16,704$456,353.000.23%
100Fortune Real Estate Investment Trust364,000$454,475.000.23%
101Sekisui House REIT, Inc.648$418,420.000.21%
102Echo Investment SA328,924$391,501.000.20%
103CapitaLand Retail China Trust334,500$380,854.000.19%
104ADO Properties SA6,497$370,747.000.19%
105DDR Corp.27,000$369,900.000.19%
106LondonMetric Property PLC145,000$358,182.000.18%
107InterXion Holding NV5,430$352,298.000.18%
108Sunstone Hotel Investors, Inc.20,000$325,400.000.17%
109CYS Investments, Inc.43,100$315,061.000.16%
110alstria office REIT-AG20,000$310,580.000.16%
111Daiwa Office Investment Corp.50$304,521.000.15%
112Land & Houses PCL840,000$302,976.000.15%
113Terreno Realty Corp.7,500$276,825.000.14%
114Fabege AB19,000$269,066.000.14%
115City Developments, Ltd.36,200$266,178.000.14%
116Safestore Holdings PLC36,000$264,610.000.13%
117Japan Rental Housing Investments, Inc.320$260,430.000.13%
118PLA Administradora Industrial S de RL de CV165,100$257,778.000.13%
119Industrial & Infrastructure Fund Investment Corp.224$241,599.000.12%
120Propnex, Ltd.500,000$238,734.000.12%
121Irish Residential Properties REIT PLC140,000$224,936.000.11%
122Empiric Student Property PLC171,428$213,758.000.11%
123Primary Health Properties PLC138,725$206,119.000.10%
124LB Commercial Mortgage Trust 2007-C3197,627$200,978.000.10%
125Aventus Retail Property Fund, Ltd.117,094$199,219.000.10%
126Spirit MTA REIT19,000$189,810.000.10%
127Hilton Worldwide Holdings, Inc.2,137$168,096.000.09%
128Retail Value, Inc.4,100$135,464.000.07%
129Bank of America Commercial Mortgage Trust 2008-1119,671$119,820.000.06%
130Kenedix Residential Next Investment Corp.18$26,723.000.01%
131State Street Institutional Treasury Plus Money Market Fund2,925,385$2,925,385.001.49%
132Cash In Escrow250,237$250,237.000.13%

Fund Data as of Aug 16, 2018
Ticker Symbol PGZ
NAV $19.95
Market Price $18.25
Premium/Discount -8.52%
Total Net Assets $137,640,221.51