BDREX seeks to generate a return comprised of both current income and long-term capital appreciation with low-to-moderate volatility and low correlation to the broader markets.
|Top 10 Holdings as of 12/31/20||Type||Weight|
|TCM CRE Credit Fund LP||Private Real Estate Fund||21.0%|
|CBRE U.S. Core Partners LP||Private Real Estate Fund||11.2%|
|Vanguard Real Estate ETF||N.A.||9.3%|
|iShares U.S. Real Estate ETF||N.A.||7.0%|
|Clarion Lion Properties Fund||Private Real Estate Fund||5.6%|
|Clarion Lion Industrial Trust||Private Real Estate Fund||5.6%|
|Voya Commercial Mortgage Lending Fund LP||Private Real Estate Fund||5.5%|
|USAA US Government Building Open-End Feeder LP||Private Real Estate Fund||4.7%|
|Sentinel Real Estate Fund LP||Private Real Estate Fund||4.1%|
|PA MAC FUND LP||Private Real Estate Fund||2.2%|
Weight represents the position’s percentage of gross assets. Holdings are subject to change.