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Cbre Investment Management Listed Real Assets

SEC-registered adviser since 1995Radnor, PACRD 106256

$10.8B
AUM
44
Clients
See fees
Fee
30
Advisory staff

From Form ADV filed 30 March 2026 · data retrieved 15 October 2026SEC record

Cbre Investment Management Listed Real Assets is an investment adviser headquartered in Radnor, Pennsylvania, and registered with the SEC since 1995. Its clients include investment companies, state or municipal government entities and pooled investment vehicles.

Its services include portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. Fee arrangements include a percentage of assets under management and performance-based fees. Cbre Investment Management Listed Real Assets Holdings LLC owns 75% or more of Cbre Investment Management Listed Real Assets.

Clients

Cbre Investment Management Listed Real Assets serves 44 clients, 15 of them state or municipal government entities. The average client has about $245 million with the firm.

Regulatory assets by client type
  • Investment companies6 clients35%
  • Pooled investment vehicles13 clients21%
  • Pension and profit-sharing plans5 clients8%
  • State or municipal government entities15 clients22%
  • Insurance companies10%
  • OtherSovereign wealth funds and foreign official institutions, Charitable organizations, Corporations and other businesses5%
Show client breakdown
Investment companies
Clients
6
Regulatory AUM
$3,772,385,405
Share
34.9%
Avg. per client
$628.7M
Pooled investment vehicles
Clients
13
Regulatory AUM
$2,226,101,420
Share
20.6%
Avg. per client
$171.2M
Pension and profit-sharing plans
Clients
5
Regulatory AUM
$816,613,717
Share
7.6%
Avg. per client
$163.3M
Charitable organizations
Clients
5
Regulatory AUM
$115,811,803
Share
1.1%
Avg. per client
$23.2M
State or municipal government entities
Clients
15
Regulatory AUM
$2,330,755,178
Share
21.6%
Avg. per client
$155.4M
Insurance companies
Clients
Not reported
Regulatory AUM
$1,121,449,969
Share
10.4%
Avg. per client
—
Sovereign wealth funds and foreign official institutions
Clients
Not reported
Regulatory AUM
$248,956,245
Share
2.3%
Avg. per client
—
Corporations and other businesses
Clients
Not reported
Regulatory AUM
$168,786,928
Share
1.6%
Avg. per client
—

Total

Clients
44
Regulatory AUM
$10,800,860,665
Share
100%
Avg. per client
$245.5M

What it does

Cbre Investment Management Listed Real Assets provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.

Cbre Investment Management Listed Real Assets provided financial planning to 0 clients last fiscal year and advises no private funds.

100.0% of assets ($10.80B across 50 accounts) are managed with discretion. 56% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks99%
  • Cash1%

Custodians

Cbre Investment Management Listed Real Assets’ client accounts are held mainly at J.P. Morgan, with 13% of managed assets, and Citigroup, with 5%. Cbre Investment Management Listed Real Assets does not have custody of client assets.

Managed account assets by custodian
  • J.P. MorganJP Morgan Chase Bank · New York, NY · $1.45B13%
  • CitigroupCitigroup · New York, NY · $575.8M5%
  • Northern TrustNorthern Trust · Chicago, IL · $346.8M3%
  • All other custodians$8.43B78%

Ownership and leadership

Cbre Investment Management Listed Real Assets Holdings LLC owns 75% or more of Cbre Investment Management Listed Real Assets.

Who owns the firm
Cbre Investment Management Listed Real Assets LLC· the adviser

  • Cbre Investment Management Listed Real Assets Holdings LLC

    Control person · since July 2011

    Owns 75% or more of Cbre Investment Management Listed Real Assets LLC

Leadership

  • Joseph Smith
    President / Chief Investment Officer - Listed Real Assets
  • Jonathan Blome
    Chief Financial Officer / Chief Operating Officer
  • Jeff Chang
    Chief Compliance Officer
  • Jeremy Anagnos
    Chief Investment Officer - Listed Infrastructure
  • David Makowicz
    Managing Director, Listed Business Development Strategist
  • Christopher Reich
    Portfolio Manager / Head of Quantitative Research
  • Kenneth Weinberg
    Chief Investment Officer - Listed Real Estate

Staff

  • 60 employees
  • 30 in advisory functions
  • 3 broker-dealer reps
  • 6 soliciting firms

Reported holdings

Cbre Investment Management Listed Real Assets’ reported 13F holdings total $7.18B across 101 positions, and the ten largest make up 38.2% of it.

$7.18B
Reported 13F value
101
Positions
38.2%
In the 10 largest
+6.5%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Welltower Inc.9.0%
  2. Equinix Inc.6.6%
  3. Prologis Inc.3.4%
  4. American Tower Corp.3.3%
  5. Xcel Energy Inc.3.0%
  6. American Electric Power Co Inc.3.0%
  7. PPL Corp.2.7%
  8. Udr Inc.2.5%
  9. Atmos Energy Corp.2.4%
  10. Brixmor Property Group Inc.2.3%

Together, the ten largest are 38.2% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $7.18B is not its $10.80B in regulatory assets and does not represent any individual client's portfolio.

Fees

Cbre Investment Management Listed Real Assets is paid through a percentage of assets under management and performance-based fees.

Cbre Investment Management Listed Real Assets’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Cbre Investment Management Listed Real Assets has 3 offices, with 1 listed address in 1 state.

Listed office addresses by state

Pennsylvania · 1 listed address

  • 555 East Lancaster Avenue, Suite 120, RadnorHQ

Registration details

Legal name
Cbre Investment Management Listed Real Assets LLC
Headquarters
555 East Lancaster Avenue, Suite 120, Radnor, PA 19087
Phone
610-995-8900
Website
Not reported
SEC file
801-49083
Structure
Delaware LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Cbre Investment Management Listed Real Assets have?

Cbre Investment Management Listed Real Assets has 44 clients and manages $10.8 billion for them, as of March 2026. They include 15 state or municipal government entities, 13 pooled investment vehicles and 6 investment companies.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026

What services does Cbre Investment Management Listed Real Assets offer?

Cbre Investment Management Listed Real Assets provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Cbre Investment Management Listed Real Assets use?

Cbre Investment Management Listed Real Assets’ separately managed account assets are held at JP Morgan Chase Bank (New York, NY), with $1,446,761,682, Citigroup (New York, NY), with $575,800,383 and Northern Trust (Chicago, IL), with $346,798,597. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026

How many financial advisors does Cbre Investment Management Listed Real Assets have?

Cbre Investment Management Listed Real Assets has 0 investment adviser representatives registered with state securities authorities, out of 60 employees, and 30 perform investment advisory functions. 3 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Cbre Investment Management Listed Real Assets invest in?

At the end of its last fiscal year, Cbre Investment Management Listed Real Assets’ separately managed accounts held 99% exchange-traded equities and 1% cash and equivalents. It advises no private funds of its own.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Cbre Investment Management Listed Real Assets?

Cbre Investment Management Listed Real Assets is owned through a chain of holding companies by Cbre Group, Inc. Its direct owner is Cbre Investment Management Listed Real Assets Holdings LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026

How does Cbre Investment Management Listed Real Assets get paid?

Cbre Investment Management Listed Real Assets is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 30 March 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 106256.
  3. Form 13F-HR, filed 14 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Cbre Investment Management Listed Real Assets LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.