Each N-PORT filing of FREI compared with the one before: positions added and dropped, the largest weight changes, turnover. Computed by Mulden from the filings; dated by filing period and SEC receipt.https://themulden.com/enhttps://themulden.com/funds/frei/https://themulden.com/funds/frei/559 positions became 573: 26 added (3.26% of the fund), 12 dropped (1.34%). Turnover proxy 7.9%. Largest increases: NNN REIT INC 0.07% to 0.39%; SIMON PROPERTY GROUP LP 0.09% to 0.4%; AMERICAN TOWER CORP 1.92% to 2.18%; EXTRA SPACE STORAGE LP 0.18% to 0.4%; REALTY INCOME CORP 0.17% to 0.4%; EQUINIX INC 1.99% to 2.21%. Largest decreases: Fidelity Revere Street Trust 6.66% to 5.14%; PUBLIC STORAGE 0.69% to 0.5%; CURBLINE PROPERTIES CORP 0.25% to 0.06%; FIRST INDUSTRIAL REALTY TRUST INC 0.44% to 0.29%; KIMCO REALTY CORP 0.52% to 0.38%; REALTY INCOME CORP 0.38% to 0.23%. New: VENTAS RLTY LTD PARTNERSHIP (0.38%), BX TR 2026-RISE (0.25%), MERIDIAN ARC HOLDCO LLC (0.24%), BX TRUST 2026-LP3 (0.23%), METRONET INFRASTRUCTURE ISSUER LLC (0.18%), LINEAGE OP LP (0.17%). Gone: MHC COML MTG TR 2021-MHC (0.34%), GS MTG SECS CORP TR 2023-SHIP (0.23%), LINEAGE OP LP (0.18%), GS MTG SECS CORP TR 2023-SHIP (0.16%), LGI HOMES INC (0.15%), ELLINGTON FINANCIAL INC (0.09%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 26 Jun 2026 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/559 positions became 559: 21 added (2.77% of the fund), 21 dropped (2.38%). Turnover proxy 7.3%. Largest increases: Fidelity Revere Street Trust 5.82% to 6.66%; AMERICAN TOWER CORP 1.17% to 1.92%; UDR INC 0.73% to 1.02%; EQUINIX INC 1.74% to 1.99%; KITE REALTY GROUP TRUST 0.22% to 0.47%; KIMCO REALTY CORP 0.29% to 0.52%. Largest decreases: DIGITALBRIDGE GROUP INC 0.44% to 0.1%; DIGITALBRIDGE GROUP INC 0.35% to 0.05%; DIGITALBRIDGE GROUP INC 0.33% to 0.05%; ELME COMMUNITIES 0.2% to 0.03%; TWO HARBORS INVESTMENT COR 0.31% to 0.14%; TWO HARBORS INVESTMENT COR 0.15% to 0.08%. New: LXP INDUSTRIAL TRUST (0.49%), INVENTRUST PROPERTIES CORP (0.22%), BX COML MTG TR 2024-VLT5 (0.19%), CENTURY CMNTYS INC (0.17%), CQP HOLDCO LP (0.17%), FLASH COMPUTE LLC (0.16%). Gone: LXP INDUSTRIAL TRUST (0.5%), ELP COMMERCIAL MORTGAGE TRUST 2021-ELP (0.28%), DIAMONDROCK HOSPITALITY CO (0.21%), BLACKSTONE CQP HOLDCO LP (0.18%), BX 2021-VOLT (0.17%), OPEN TR 2023-AIR (0.14%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Wed, 25 Mar 2026 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/530 positions became 559: 40 added (4.96% of the fund), 11 dropped (1.15%). Turnover proxy 9.7%. Largest increases: EQUINIX INC 1.29% to 1.74%; VICI PROPERTIES LP 0.13% to 0.42%; VICI PROPERTIES LP 0.16% to 0.43%; CROWN CASTLE INC 0.28% to 0.55%; UDR INC 0.5% to 0.73%; SIMON PROPERTY GROUP LP 0.11% to 0.31%. Largest decreases: Fidelity Revere Street Trust 10.52% to 5.82%; CROWN CASTLE INC 0.53% to 0.43%; MORGAN STANLEY CAP I TR 2015-MS1 0.17% to 0.08%; AMERICAN TOWER CORP 1.24% to 1.17%; DIGITAL REALTY TRUST INC 0.68% to 0.62%; MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C9 0.09% to 0.04%. New: KITE REALTY GROUP LP (0.33%), WELLTOWER OP LLC (0.26%), CROWN CASTLE INC (0.25%), HILTON DOMESTIC OPERATING CO INC (0.23%), WULF COMPUTE LLC (0.21%), EXTRA SPACE STORAGE LP (0.18%). Gone: BX COMMERCIAL MORTGAGE TRUST 2021-SOAR (0.32%), SREIT TR 2021-IND (0.24%), CREDIT SUISSE MORTGAGE CAPITAL CERTIFICATE (0.23%), UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC (0.11%), CENTURY CMNTYS INC (0.09%), COMM 2013-LC6 MTG TR (0.08%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Tue, 23 Dec 2025 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/520 positions became 530: 24 added (3.01% of the fund), 14 dropped (2.41%). Turnover proxy 6.9%. Largest increases: Fidelity Revere Street Trust 8.41% to 10.52%; GLP CAP LP / GLP FING II INC 0.1% to 0.32%; GLP CAP LP / GLP FING II INC 0.13% to 0.32%; SUN CMNTYS OPER LTD PRTNRSHP 0.16% to 0.3%; DIGITALBRIDGE GROUP INC 0.01% to 0.15%; AGREE LP 0.01% to 0.14%. Largest decreases: EQUINIX INC 1.48% to 1.29%; EQUITY LIFESTYLE PROPERTIES INC 1.55% to 1.36%; AMERICAN TOWER CORP 1.42% to 1.24%; INVITATION HOMES INC 1.15% to 0.98%; DIGITALBRIDGE GROUP INC 0.46% to 0.36%; PUBLIC STORAGE 0.7% to 0.61%. New: VICI PROPERTIES LP (0.38%), CROWN CASTLE INC (0.28%), SABRA HEALTH CARE LP (0.24%), PRM TR 2025-PRM6 (0.23%), LINEAGE OP LP (0.2%), WHARF 2025-DC E (0.19%). Gone: SUN CMNTYS OPER LTD PRTNRSHP (0.75%), SABRA HEALTH CARE LP (0.34%), BENCHMARK 2020-B18 MORTGAGE TRUST (0.22%), BX COMMERCIAL MORTGAGE TRUST 2021-VINO (0.22%), SUN CMNTYS OPER LTD PRTNRSHP (0.19%), ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO (0.16%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 26 Sep 2025 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/524 positions became 520: 25 added (3.91% of the fund), 29 dropped (3.8%). Turnover proxy 10.6%. Largest increases: Fidelity Revere Street Trust 3.87% to 8.41%; DIGITAL REALTY TRUST INC 0.21% to 0.65%; UDR INC 0.25% to 0.53%; EQUITY RESIDENTIAL 0.12% to 0.36%; AMERICOLD REALTY TRUST 0.06% to 0.23%; WELLTOWER INC 1.28% to 1.41%. Largest decreases: AMERICAN TOWER CORP 1.83% to 1.42%; PROLOGIS INC 1.91% to 1.62%; CROWN CASTLE INC 0.84% to 0.56%; KIMCO REALTY OP LLC 0.29% to 0.07%; SIMON PROPERTY GROUP LP 0.33% to 0.11%; CROWN CASTLE INC 0.7% to 0.49%. New: BX TRUST 2025-ROIC (0.45%), SWCH COML MTG TR 2025-DATA (0.37%), BX COMMERCIAL MORTGAGE TRUST 2025-SPOT (0.37%), BX TR 2025-VLT6 (0.29%), LAS VEGAS SANDS CORP (0.2%), AMERICOLD REALTY OPERATING PARTNERSHIP LP (0.2%). Gone: BBCMS MORTGAGE TRUST 2023-C20 (0.3%), BMO 2023-C5 MTG TR (0.27%), BENCHMARK 2023-V3 MTG TR (0.21%), THE BAHA TRUST (0.21%), NEW FORTRESS ENERGY INC (0.2%), BX COML MTG TR 2024-XL4 (0.2%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Thu, 26 Jun 2025 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/520 positions became 524: 22 added (3.17% of the fund), 18 dropped (3.21%). Turnover proxy 8.7%. Largest increases: PROLOGIS INC 1.41% to 1.91%; SUN COMMUNITIES INC 0.48% to 0.86%; Phillips Edison Grocery Center Operating Partnership I LP 0% to 0.36%; INVITATION HOMES INC 0.76% to 1.06%; FIRST INDUSTRIAL REALTY TRUST INC 0.2% to 0.45%; ESSEX PORTFOLIO LP 0.24% to 0.45%. Largest decreases: Fidelity Revere Street Trust 7.23% to 3.87%; CROWN CASTLE INC 1.18% to 0.84%; UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC 0.47% to 0.17%; VENTAS RLTY LTD PARTNERSHIP 0.33% to 0.2%; ACADIA REALTY TRUST 0.25% to 0.13%; PUBLIC STORAGE 0.8% to 0.69%. New: BX TR 2022-LBA6 (0.41%), BX TRUST 2025-DIME (0.31%), THE BAHA TRUST (0.21%), IRON MOUNTAIN INC (0.2%), BLACKSTONE CQP HOLDCO LP (0.2%), AMERICAN TOWER CORP (0.2%). Gone: BBCMS MTG TR 2023-C19 (0.46%), BENCHMARK 2023-B38 MTG TR (0.43%), BANK 2022-BNK44 (0.33%), BMO 2023-C6 MTG TR (0.3%), PENNYMAC CORP (0.27%), BENCHMARK 2022-B35 MTG TR (0.23%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Mon, 31 Mar 2025 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/511 positions became 520: 23 added (3.84% of the fund), 14 dropped (1.54%). Turnover proxy 9.2%. Largest increases: Fidelity Revere Street Trust 3.58% to 7.23%; SUN COMMUNITIES INC 0.17% to 0.48%; SUN CMNTYS OPER LTD PRTNRSHP 0.61% to 0.74%; EQUINIX INC 1.41% to 1.5%; VICI PPTYS INC 0.78% to 0.87%; AMERICAN HOMES 4 RENT LP 0.42% to 0.5%. Largest decreases: AMERICAN TOWER CORP 2.46% to 1.64%; PUBLIC STORAGE 1.08% to 0.8%; CAESARS ENTERTAINMENT INC 0.37% to 0.12%; ESSEX PROPERTY TRUST INC 0.81% to 0.57%; BMO 2023-C5 MTG TR 0.5% to 0.27%; BBCMS MORTGAGE TRUST 2023-C20 0.53% to 0.3%. New: NXPT COML MTG TR (0.36%), BX TRUST 2024-FNX (0.35%), ROCC 2024-CNTR E (0.27%), SIMON PROPERTY GROUP LP (0.27%), CURBLINE PROPERTIES CORP (0.27%), MORGAN STANLEY CAP I TR 2024-NSTB (0.25%). Gone: SITE CENTERS CORP (0.45%), BANK 2022-BNK43 (0.21%), CENTERSPACE (0.16%), TPGI 2021-DGWD G (0.12%), BENCHMARK 2022-B36 MTG TR (0.1%), VENTAS RLTY LTD PARTNERSHIP (0.08%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 27 Dec 2024 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/497 positions became 511: 30 added (3.76% of the fund), 16 dropped (2.43%). Turnover proxy 6.8%. Largest increases: AMERICAN TOWER CORP 2.03% to 2.46%; VICI PPTYS INC 0.5% to 0.78%; EQUINIX INC 1.15% to 1.41%; SAFEHOLD OPERATING PARTNERSHIP LP 0.27% to 0.48%; PROLOGIS INC 1.35% to 1.56%; CROWN CASTLE INC 1.14% to 1.32%. Largest decreases: Fidelity Revere Street Trust 4.39% to 3.58%; PENNYMAC MORTGAGE INVESTMENT TRUST 0.31% to 0.19%; SUNBELT MEZZ 0.16% to 0.05%; PENNYMAC MORTGAGE INVESTMENT TRUST 0.2% to 0.1%; KENNEDY-WILSON INC 0.32% to 0.22%; ESSEX PROPERTY TRUST INC 0.88% to 0.81%. New: BX 2024 VLT4 (0.3%), HILTON WORLDWIDE FINANCE LLC (0.28%), CONE TR 2024-DFW1 (0.21%), VICI PROPERTIES LP (0.21%), BLACKSTONE CQP HOLDCO LP (0.21%), BRIXMOR PROPERTY GROUP INC (0.2%). Gone: GREAT AJAX CORP (0.34%), HILTON WORLDWIDE FINANCE LLC (0.3%), ENERGY TRANSFER LP (0.29%), BLACKSTONE CQP HOLDCO LP (0.22%), MFA FINANCIAL INC (0.22%), IMT TR 2017-APTS (0.2%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Wed, 25 Sep 2024 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/503 positions became 497: 26 added (4.7% of the fund), 32 dropped (4.15%). Turnover proxy 9.8%. Largest increases: SBA SENIOR FINANCE II LLC 0.17% to 0.58%; KIMCO REALTY CORP 0.09% to 0.47%; INVITATION HOMES INC 0.39% to 0.7%; AMERICAN HOMES 4 RENT LP 0.13% to 0.43%; SUN CMNTYS OPER LTD PRTNRSHP 0.39% to 0.62%; KITE REALTY GROUP LP 0% to 0.19%. Largest decreases: Fidelity Revere Street Trust 7.72% to 4.39%; PROLOGIS INC 1.77% to 1.35%; MID-AMERICA APT CMNTYS INC 0.61% to 0.3%; EQUITY LIFESTYLE PROPERTIES INC 1.93% to 1.77%; CROWN CASTLE INC 1.27% to 1.14%; PUBLIC STORAGE 0.11% to 0.02%. New: CROWN CASTLE INC (0.67%), AMERICAN TOWER CORP (0.63%), BX 2024-CNYN (0.4%), DYNEX CAPITAL INC (0.27%), SAFEHOLD OPERATING PARTNERSHIP LP (0.27%), ESSEX PORTFOLIO LP (0.26%). Gone: BX COMMERCIAL MORTGAGE TRUST 2019-XL (0.32%), MORGAN STANLEY CAPITAL I TRUST 2018-H4 (0.3%), BX COMMERCIAL MORTGAGE TRUST 2019-XL (0.29%), PILOT TRAVEL CTRS LLC (0.29%), PUBLIC STORAGE (0.29%), PUBLIC STORAGE (0.27%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 28 Jun 2024 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/493 positions became 503: 31 added (5.04% of the fund), 21 dropped (2.14%). Turnover proxy 8.2%. Largest increases: Fidelity Revere Street Trust 6.4% to 7.72%; GS MTG SECS CORP TR 2023-SHIP 0.11% to 0.32%; SBA SENIOR FINANCE II LLC 0.12% to 0.26%; CBRE SERVICES INC 0.49% to 0.61%; AGREE LP 0.03% to 0.11%; JP MORGAN CHASE COML MTG SECS TR 2012-CIBX 0.07% to 0.14%. Largest decreases: AMERICAN TOWER CORP 2.22% to 1.92%; EQUITY LIFESTYLE PROPERTIES INC 2.21% to 1.93%; RLJ LODGING TRUST LP 0.32% to 0.09%; CHIMERA INVESTMENT CORP 0.56% to 0.35%; GS MTG SECS TR 2019-GSA1 0.34% to 0.14%; BENCHMARK 2022-B35 MTG TR 0.45% to 0.25%. New: REALTY INCOME CORP (0.46%), HILTON WORLDWIDE FINANCE LLC (0.29%), PILOT TRAVEL CTRS LLC (0.29%), REALTY INCOME CORP (0.24%), MSWF COMMERCIAL MORTGAGE TRUST 23-2 (0.24%), SIMON PROPERTY GROUP LP (0.24%). Gone: SPIRIT REALTY CAPITAL INC (0.5%), SPIRIT REALTY LP (0.24%), NEW FORTRESS ENERGY INC (0.22%), BANK 2022-BNK39 (0.16%), GS MTG SECS TR 2013-GCJ16 (0.14%), MORGAN STANLEY BK AMER MERRILL LYNCH TR 2013-C13 (0.14%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Wed, 27 Mar 2024 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/472 positions became 493: 62 added (9.91% of the fund), 41 dropped (5.71%). Turnover proxy 15.6%. Largest increases: CROWN CASTLE INC 0.11% to 0.63%; VENTAS RLTY LTD PARTNERSHIP 0.06% to 0.37%; MSWF COML MTG TR 2023-1 0.09% to 0.36%; VICI PROPERTIES LP / VICI NOTE CO INC 0.28% to 0.54%; OMEGA HEALTHCARE INVESTORS INC 0.1% to 0.31%; DIGITAL REALTY TRUST LP 0.11% to 0.28%. Largest decreases: Fidelity Revere Street Trust 10.95% to 6.4%; PROLOGIS INC 2.01% to 1.73%; VERITAS MULTIFAMILY PORTFOLIO POOL A 0.36% to 0.1%; SUNBELT MEZZ 0.41% to 0.17%; CHIMERA INVESTMENT CORP 0.78% to 0.57%; CHIMERA INVESTMENT CORP 0.22% to 0.01%. New: BBCMS MORTGAGE TRUST 2023-C20 (0.55%), BMO 2023-C5 MTG TR (0.52%), BBCMS MTG TR 2023-C19 (0.5%), INVITATION HOMES OPERATING PARTNERSHIP LP (0.5%), CBRE SERVICES INC (0.49%), BENCHMARK 2023-B38 MTG TR (0.47%). Gone: BARCLAYS COMMERCIAL MORTGAGE SECURITIES LLC (0.45%), BANK 2021-BNK36 (0.44%), HOWARD HUGHES CORP (0.41%), NECESSITY RETAIL REIT INC/THE (0.38%), BENCHMARK 2019-B13 MTG TR (0.38%), CAMB COML MTG TR 2019-LIFE (0.32%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 29 Dec 2023 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/474 positions became 472: 33 added (3.73% of the fund), 35 dropped (3.16%). Turnover proxy 7.7%. Largest increases: Fidelity Revere Street Trust 9.7% to 10.95%; EXTRA SPACE STORAGE INC 0.35% to 0.59%; SBA COMMUNICATIONS CORP 0.13% to 0.35%; SUN CMNTYS OPER LTD PRTNRSHP 0.01% to 0.22%; PUBLIC STORAGE 0.33% to 0.53%; BANK 2022-BNK44 0.23% to 0.36%. Largest decreases: BX 2021-BXMF 0.38% to 0.05%; EQUITY LIFESTYLE PROPERTIES INC 2.51% to 2.22%; CROWN CASTLE INC 1.65% to 1.43%; AMERICAN TOWER CORP 2.4% to 2.18%; BX COMMERCIAL MORTGAGE TRUST 2021-VINO 0.43% to 0.25%; VERITAS MULTIFAMILY PORTFOLIO POOL A 0.51% to 0.36%. New: AMERICAN TOWER CORP (0.33%), SUN CMNTYS OPER LTD PRTNRSHP (0.27%), PUBLIC STORAGE (0.22%), CITIGROUP COMMERCIAL MORTGAGE TRUST 2023-SMRT (0.2%), BBCMS 2022 (0.19%), BANK 2021-BN35 (0.13%). Gone: VMC FINANCE 2021-HT1 (0.38%), LIFE STORAGE INC (0.32%), REALOGY GROUP LLC / REALOGY CO-ISSUER CORP (0.23%), SERVICE PROPERTIES TRUST (0.17%), MORGAN STANLEY CAP I TR 2011-C3 (0.16%), BX TR 2021-LGCY (0.15%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Mon, 25 Sep 2023 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/493 positions became 474: 5 added (0.57% of the fund), 24 dropped (2.25%). Turnover proxy 6%. Largest increases: Fidelity Revere Street Trust 8.84% to 9.7%; PUBLIC STORAGE 0.08% to 0.44%; PUBLIC STORAGE 0.13% to 0.33%; EQUINIX INC 0.32% to 0.44%; AMERICAN HOMES 4 RENT LP 0.1% to 0.21%; PUBLIC STORAGE 0.06% to 0.16%. Largest decreases: MED TR 2021-MDLN 0.34% to 0.07%; OFFICE PROPERTIES INCOME TRUST 0.4% to 0.15%; DIVERSIFIED HEALTHCARE TR 0.34% to 0.1%; LXP INDUSTRIAL TRUST 1.07% to 0.86%; BX TR 2021-LGCY 0.35% to 0.15%; EQUITY LIFESTYLE PROPERTIES INC 2.68% to 2.51%. New: AMERICAN TOWER CORP (0.34%), UNITI GROUP LP / UNITI GROUP FINANCE INC / CSL CAPITAL LLC (0.15%), CUSHMAN and WAKEFIELD US BORROWER LLC (0.06%), PUBLIC STORAGE (0.02%), SAFEHOLD INC (0%). Gone: DIGITALBRIDGE GROUP INC (0.43%), ISTAR INC (0.24%), CLEAR CHANNEL OUTDOOR HOLDINGS INC (0.23%), SLG OFFICE TR 2021-OVA (0.23%), ISTAR INC (0.16%), ISTAR INC (0.15%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Tue, 27 Jun 2023 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/494 positions became 493: 14 added (1.61% of the fund), 15 dropped (1.33%). Turnover proxy 7.9%. Largest increases: BENCHMARK 2022-B35 MTG TR 0.19% to 0.54%; CROWN CASTLE INC 1.46% to 1.81%; AMERICAN TOWER CORP 0.14% to 0.43%; PROLOGIS INC 1.74% to 2%; WELLTOWER OP 1.03% to 1.26%; VENTAS INC 0.81% to 1.03%. Largest decreases: Fidelity Revere Street Trust 12.02% to 8.84%; REDWOOD TRUST INC 0.56% to 0.17%; BX 2021-XL2 0.45% to 0.14%; GAMING AND LEISURE PROPERTIES INC 0.73% to 0.42%; DIVERSIFIED HEALTHCARE TR 0.58% to 0.34%; RWT HOLDINGS INC 0.32% to 0.08%. New: BENCHMARK 2022-B34 MORTGAGE TRUST (0.42%), CITIGROUP COML MTG TR 2019-C7 (0.27%), BENCHMARK 2021-B29 MORTGAGE TRUST (0.25%), BANK 2022-BNK44 (0.22%), PUBLIC STORAGE (0.13%), WELLTOWER INC (0.1%). Gone: BX COML MTG TR 2021-CIP (0.48%), JPMCC COML MTG SECS TR 2016-JP4 (0.15%), BX TR 2021-ARIA (0.13%), DBCCRE 2014-ARCP MORTGAGE TRUST (0.1%), ILPT COML MTG TR 2022-LPF2 (0.1%), MTN COML MTG TR 2022-LPFL (0.1%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Mon, 27 Mar 2023 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/512 positions became 494: 30 added (2.42% of the fund), 48 dropped (4.88%). Turnover proxy 10.2%. Largest increases: PROLOGIS INC 1.15% to 1.74%; VICI PROPERTIES LP / VICI NOTE CO INC 0.03% to 0.25%; UDR INC 0.13% to 0.35%; BOSTON PPTY LTD PARTNERSHIP 0.03% to 0.18%; HILTON DOMESTIC OPERATING CO INC 0.09% to 0.23%; PUBLIC STORAGE 1.05% to 1.19%. Largest decreases: Fidelity Revere Street Trust 12.65% to 12.02%; CREDIT SUISSE MORTGAGE TRUST 2021-4SZN 0.41% to 0.02%; AMERICAN TOWER CORP 2.72% to 2.46%; MFA FINANCIAL INC 0.56% to 0.3%; TWO HARBORS INVESTMENT COR 0.53% to 0.28%; BX 2021-21M MTG TR 0.26% to 0.04%. New: BANK 2021-BNK36 (0.4%), BANK 2022-BNK43 (0.19%), BENCHMARK 2022-B35 MTG TR (0.19%), BANK 2022-BNK42 (0.19%), AGNC INVESTMENT CORP (0.14%), DIGITALBRIDGE GROUP INC (0.13%). Gone: TWO HARBORS INVESTMENT COR (0.59%), DUKE REALTY CORP (0.47%), ISTAR INC (0.34%), ISTAR INC (0.28%), BANK 2019-BNK19 (0.27%), EXTENDED STAY AMER TR 2021-ESH (0.26%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Wed, 28 Dec 2022 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/562 positions became 512: 34 added (2.32% of the fund), 84 dropped (9.97%). Turnover proxy 17.7%. Largest increases: Fidelity Revere Street Trust 5.52% to 12.65%; PROLOGIS INC 0.04% to 1.15%; PUBLIC STORAGE 0.49% to 1.05%; AMERICAN TOWER CORP 0.07% to 0.44%; DUKE REALTY CORP 0.12% to 0.47%; VICI PROPERTIES LP 0.15% to 0.45%. Largest decreases: ISTAR INC 0.71% to 0.02%; EQUITY LIFESTYLE PROPERTIES INC 3.37% to 2.71%; CUSHMAN and WAKEFIELD US BORROWER LLC 0.7% to 0.08%; MFA FINANCIAL INC 1.09% to 0.56%; NEW RESIDENTIAL INVT CORP 0.43% to 0.13%; LXP INDUSTRIAL TRUST 1.22% to 0.97%. New: CAESARS ENTERTAINMENT INC (0.28%), GLP CAP LP / GLP FING II INC (0.17%), EQUITY RESIDENTIAL (0.16%), BENCHMARK 2022-B35 MTG TR (0.14%), UDR INC (0.13%), BANK 2022-BNK42 (0.1%). Gone: INVESCO MORTGAGE CAPITAL INC (0.87%), CAESARS RESORT COLLECTION LLC (0.61%), BALLYS CORP (0.55%), INVESCO MORTGAGE CAPITAL INC (0.45%), PLAYA RESORTS HLDG B V (0.36%), DIVERSIFIED HEALTHCARE TR (0.34%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Tue, 27 Sep 2022 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/566 positions became 562: 45 added (6.01% of the fund), 49 dropped (8.62%). Turnover proxy 12.7%. Largest increases: LIFE STORAGE INC 0.03% to 0.3%; EQUITY LIFESTYLE PROPERTIES INC 3.15% to 3.37%; CROWN CASTLE INTERNATIONAL CORP 1.23% to 1.45%; BENCHMARK 2019-B13 MTG TR 0.27% to 0.49%; WELLTOWER INC 0.8% to 0.98%; HILTON GRAND VACATIONS BORROWER ESCROW LLC 0.19% to 0.33%. Largest decreases: Fidelity Revere Street Trust 6.74% to 5.52%; ISTAR INC 1.15% to 0.71%; OPG TR 2021-PORT 0.32% to 0.1%; APARTMENT INCOME REIT CORP 0.23% to 0.06%; BX COMMERCIAL MORTGAGE TRUST 2021-PAC 0.36% to 0.25%; BX TR 2021-ARIA 0.28% to 0.18%. New: MFA FINANCIAL INC (1.09%), SUNBELT MEZZ (0.48%), BENCHMARK 2022-B32 MTG TR (0.42%), GS MTG SECS TR 2019-GSA1 (0.37%), BARCLAYS COMMERCIAL MORTGAGE SECURITIES LLC (0.34%), BANK 2019-BNK19 (0.24%). Gone: MFA FINANCIAL INC (1.32%), SBA SENIOR FINANCE II LLC (0.59%), MONMOUTH REAL ESTATE INVT CORP (0.57%), PILOT TRAVEL CTRS LLC (0.45%), ISTAR INC (0.35%), BX COML MTG TR 2020-BXLP (0.34%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 24 Jun 2022 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/544 positions became 566: 54 added (10.96% of the fund), 32 dropped (3.22%). Turnover proxy 14%. Largest increases: GAMING AND LEISURE PROPERTIES INC 0.34% to 0.79%; SBA SENIOR FINANCE II LLC 0.31% to 0.59%; VENTAS INC 0.75% to 1.01%; AVALONBAY COMMUNITIES INC 0.32% to 0.53%; CAESARS RESORT COLLECTION LLC 0.42% to 0.54%; FOUR SEASONS HLDGS INC 0.11% to 0.23%. Largest decreases: Fidelity Revere Street Trust 9.35% to 6.74%; MID-AMERICA APT CMNTYS INC 2.54% to 1.03%; DIGITAL REALTY TRUST INC 1.33% to 0.2%; AMERICAN TOWER CORP 3.45% to 2.59%; NEW RESIDENTIAL INVT CORP 0.97% to 0.45%; BROOKFIELD ASSET MANAGEMENT INC 0.63% to 0.17%. New: WELLTOWER INC (0.8%), ESSEX PROPERTY TRUST INC (0.65%), SPIRIT REALTY CAPITAL INC (0.56%), VICI PPTYS INC (0.55%), MED TR 2021-MDLN (0.49%), BX COML MTG TR 2021-CIP (0.48%). Gone: M/I HOMES INC (0.26%), DYNEX CAPITAL INC (0.25%), HAMILTON PROJECTS ACQUIROR LLC (0.24%), BROADMARK REALTY CAPITAL INC (0.19%), CBL and ASSOCS LTD PARTNERSHIP (0.19%), DBUBS 2011-LC1 MTG TR (0.16%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Tue, 22 Mar 2022 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/507 positions became 544: 64 added (10.52% of the fund), 27 dropped (3.45%). Turnover proxy 12.1%. Largest increases: BX COML MTG TR 2020-BXLP 0.09% to 0.35%; EXTENDED STAY AMER TR 2021-ESH 0.08% to 0.24%; HILTON USA TR 2016-HHV 0.13% to 0.27%; CAMB COML MTG TR 2019-LIFE 0.1% to 0.2%; CTR PARTNERSHIP LP / CARETRUST CAP CORP 0.18% to 0.28%; LEXINGTON CORP PPTYS TR REIT 1.21% to 1.28%. Largest decreases: Fidelity Revere Street Trust 12.52% to 9.35%; WESTERN ASSET MORTGAGE CAPITAL CORP 0.7% to 0.06%; NEW RESIDENTIAL INVT CORP 1.54% to 0.97%; MID-AMERICA APT CMNTYS INC 2.77% to 2.54%; AMERICAN TOWER CORP 3.62% to 3.45%; CROWN CASTLE INTERNATIONAL CORP 1.35% to 1.2%. New: BX TRUST (0.59%), HOME PARTNERS AMER 2021-2 TR (0.45%), BALLYS CORP (0.43%), PILOT TRAVEL CTRS LLC (0.38%), AMERICAN FIN TR FINAN OP (0.36%), BX COMMERCIAL MORTGAGE TRUST 2021-PAC (0.36%). Gone: ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO (0.38%), ASHTON WOODS USA LLC / ASHTON WOODS FINANCE CO (0.33%), HILTON GRAND VACATIONS BORROWER LLC (0.32%), VICI PPTYS 1 LLC (0.27%), VEREIT INC (0.23%), FARMLAND PARTNERS INC (0.23%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Tue, 21 Dec 2021 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/482 positions became 507: 69 added (10.94% of the fund), 44 dropped (7.4%). Turnover proxy 17.5%. Largest increases: Fidelity Revere Street Trust 8.37% to 12.52%; CAESARS RESORT COLLECTION LLC 0.13% to 0.44%; EQUITY LIFESTYLE PROPERTIES INC 3.42% to 3.67%; INVESCO MORTGAGE CAPITAL INC 0.69% to 0.92%; CUSHMAN and WAKEFIELD US BORROWER LLC 0.46% to 0.65%; ISTAR INC 1.19% to 1.38%. Largest decreases: APARTMENT INCOME REIT CORP 1.47% to 0.64%; NEW RESIDENTIAL INVT CORP 2.17% to 1.54%; ACADIA REALTY TRUST 1.16% to 0.59%; DYNEX CAPITAL INC 0.67% to 0.28%; CROWN CASTLE INTERNATIONAL CORP 1.53% to 1.35%; DIGITAL REALTY TRUST INC 1.52% to 1.36%. New: DIGITALBRIDGE GROUP INC (0.5%), DIGITALBRIDGE GROUP INC (0.44%), BX COMMERCIAL MORTGAGE TRUST 2021 (0.41%), DIGITALBRIDGE GROUP INC (0.38%), DIGITALBRIDGE GROUP INC (0.37%), SBA SENIOR FINANCE II LLC (0.33%). Gone: AGNC INVESTMENT CORP (1.54%), COLONY CAPITAL INC (0.51%), COLONY CAPITAL INC (0.47%), ELLINGTON FINANCIAL INC (0.45%), COLONY CAPITAL INC (0.37%), FORESTAR GROUP INC (0.34%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 24 Sep 2021 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/489 positions became 482: 23 added (2.83% of the fund), 30 dropped (3.69%). Turnover proxy 9.4%. Largest increases: DIGITAL RLTY TR INC 0.36% to 1.52%; EQUITY LIFESTYLE PPTYS INC 2.73% to 3.42%; Fidelity Revere Street Trust 7.76% to 8.37%; AMERICAN TOWER CORP 3.05% to 3.63%; MFA FINANCIAL INC 1.22% to 1.56%; MID-AMERICA APT CMNTYS INC 2.37% to 2.66%. Largest decreases: WESTERN ASSET MTG CAP CORP 1.03% to 0.81%; CBRE GROUP INC 0.38% to 0.19%; WILLSCOT MOBILE MINI HOLDINGS CORP 0.39% to 0.22%; WEYERHAEUSER CO 0.48% to 0.35%; GS MTG SECS TR 2012-GCJ7 0.17% to 0.05%; LIGHTSTONE HOLDCO LLC 0.23% to 0.12%. New: GS MTG SECS TR 2021 (0.32%), EXTRA SPACE STORAGE INC (0.32%), MHC COML MTG TR 2021-MHC (0.24%), CLEAR CHANNEL OUTDOOR HOLDINGS INC (0.23%), ENERGY TRANSFER LP (0.21%), LIFE 2021-BMR MTG TR (0.2%). Gone: KENNEDY-WILSON INC (0.89%), HOWARD HUGHES CORP (0.43%), DBUBS 2011-LC1 MTG TR (0.25%), TWO HARBORS INVESTMENT COR (0.21%), ENERGY TRANSFER OPERATING LP (0.19%), MORGAN STANLEY CAP CITIGROUP TR 2016-SNR (0.16%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Mon, 28 Jun 2021 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/502 positions became 489: 16 added (5% of the fund), 29 dropped (6.84%). Turnover proxy 10.5%. Largest increases: Fidelity Revere Street Trust 6.26% to 7.76%; MFA FINANCIAL INC 0.76% to 1.22%; ISTAR INC 0.7% to 1.09%; NEW RESIDENTIAL INVT CORP 1.94% to 2.22%; ACADIA RLTY TR 0.64% to 0.9%; MID-AMERICA APT CMNTYS INC 2.18% to 2.37%. Largest decreases: AMERICAN HOMES 4 RENT 0.58% to 0.43%; CROWN CASTLE INTL CORP 1.5% to 1.36%; VEREIT INC 0.43% to 0.31%; MOTEL 6 TR 2017-MTL6 0.16% to 0.06%; BLUEROCK RESIDENTIAL GROWTH REIT INC 0.18% to 0.09%; EQUINIX INC 1.13% to 1.04%. New: APARTMENT INCOME REIT CORP (1.44%), PENNYMAC CORP (0.61%), VERITAS MULTIFAMILY PORTFOLIO POOL A (0.54%), LAMAR ADVERTISING CO (0.41%), KENNEDY-WILSON INC (0.36%), ARBOR RLTY TR INC (0.35%). Gone: APARTMENT INVT and MGMT CO (1.4%), PENNYMAC CORP (0.63%), GS MTG SECS CORP TR 2016-RENT (0.57%), TWO HARBORS INVESTMENT COR (0.39%), GS MTG SECS CORP TR 2016-RENT (0.39%), ARBOR RLTY TR INC (0.36%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Wed, 17 Mar 2021 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/529 positions became 502: 16 added (2.86% of the fund), 43 dropped (4.34%). Turnover proxy 9.6%. Largest increases: NEW RESIDENTIAL INVT CORP 1.11% to 1.94%; MID-AMERICA APT CMNTYS INC 1.67% to 2.18%; COLONY CAPITAL INC 0.23% to 0.45%; WASHINGTON REAL ESTATE INVS TR 0.24% to 0.45%; AGNC INVESTMENT CORP 1.36% to 1.48%; WESTERN ASSET MTG CAP CORP 0.89% to 1.01%. Largest decreases: Fidelity Revere Street Trust 8.54% to 6.26%; APARTMENT INVT and MGMT CO 1.88% to 1.4%; HOWARD HUGHES CORP 0.65% to 0.46%; SAFEHOLD INC 0.35% to 0.15%; EQUITY LIFESTYLE PPTYS INC 2.94% to 2.74%; ACADIA RLTY TR 0.78% to 0.64%. New: RWT HOLDINGS INC (0.56%), CBRE GROUP INC (0.34%), ISTAR INC (0.32%), DIGITAL RLTY TR INC (0.31%), DOUGLAS EMMETT INC (0.26%), MRCD 2019-PARK G (0.24%). Gone: RWT HOLDINGS INC (0.49%), ISTAR INC (0.26%), MATTAMY GROUP CORP (0.26%), COLONY CAPITAL OPERATING CO LLC (0.25%), TRI POINTE HLDGS INC (0.25%), WILLIAMS SCOTSMAN INTL INC (0.23%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 18 Dec 2020 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/532 positions became 529: 18 added (2.88% of the fund), 21 dropped (2.74%). Turnover proxy 9.4%. Largest increases: Fidelity Revere Street Trust 7.65% to 8.54%; LEXINGTON CORP PPTYS TR REIT 0.87% to 1.23%; AGNC INVESTMENT CORP 1.02% to 1.36%; EQUITY LIFESTYLE PPTYS INC 2.6% to 2.94%; NEW RESIDENTIAL INVT CORP 0.84% to 1.11%; REDWOOD TRUST INC 0.71% to 0.91%. Largest decreases: VEREIT OPER PARTNERSHIP LP 0.32% to 0.01%; EQUITY RESIDENTIAL 0.4% to 0.11%; SAFEHOLD INC 0.54% to 0.35%; BROOKFIELD ASSET MGMT INC 0.74% to 0.55%; INVITATION HOMES OPERATING PARTNERSHIP LP 0.47% to 0.27%; DTZ US BORROWER LLC 0.42% to 0.24%. New: DIVERSIFIED HEALTHCARE TR (0.45%), HAMILTON PROJECTS ACQUIROR LLC (0.35%), WILLSCOT MOBILE MINI HOLDINGS CORP (0.35%), COLONY CAPITAL OPERATING CO LLC (0.25%), WASHINGTON REAL ESTATE INVS TR (0.24%), NEXPOINT RESIDENTIAL TRUST INC (0.22%). Gone: MOXIE PATRIOT LLC (0.6%), WILLIAMS SCOTSMAN CORP (0.24%), COLONY CAP INC (0.23%), GEO GROUP INC NEW (0.19%), AMERICAN HOMES 4 RENT 2014-SFR3 TR (0.17%), VB-S1 ISSUER LLC (0.17%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Wed, 16 Sep 2020 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/587 positions became 532: 29 added (4.5% of the fund), 84 dropped (8.11%). Turnover proxy 16.9%. Largest increases: AGNC INVESTMENT CORP 0.35% to 1.02%; AMERICAN TOWER CORP 2.66% to 3.17%; TWO HARBORS INVESTMENT COR 0.07% to 0.41%; MID-AMERICA APT CMNTYS INC 1.25% to 1.57%; CROWN CASTLE INTL CORP 1.46% to 1.68%; EQUINIX INC 1.03% to 1.25%. Largest decreases: MFA FINANCIAL INC 1.59% to 0.5%; NEW RESIDENTIAL INVT CORP 1.76% to 0.84%; VENTAS INC 1.42% to 0.85%; FIDELITY REVERE STREET TRUST 7.99% to 7.65%; SABRA HEALTH CARE REIT INC 0.77% to 0.44%; ACADIA RLTY TR 1.25% to 0.95%. New: DTZ US BORROWER LLC (0.42%), NEW RESIDENTIAL INVT CORP (0.36%), AGNC INVESTMENT CORP (0.3%), MFA FINANCIAL INC (0.29%), MATTAMY GROUP CORP (0.29%), INVITATION HOMES INC (0.28%). Gone: PENNYMAC CORP (0.53%), DTZ US BORROWER LLC (0.47%), MATTAMY GROUP CORP (0.38%), BX TRUST 2019 (0.27%), STORE CAP CORP (0.27%), SBA SENIOR FINANCE II LLC (0.23%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Thu, 25 Jun 2020 12:00:00 GMThttps://themulden.com/funds/frei/https://themulden.com/funds/frei/581 positions became 587: 41 added (5.35% of the fund), 35 dropped (4.15%). Turnover proxy 9.5%. Largest increases: NEW RESIDENTIAL INVT CORP 1.45% to 1.76%; ISTAR INC 0.46% to 0.72%; AMERICAN FINANCE TRUST INC 0.11% to 0.33%; CHIMERA INVESTMENT CORP 0.52% to 0.73%; AMERICAN TOWER CORP 2.48% to 2.66%; ANNALY CAPITAL MANAGEMENT INC 0.29% to 0.47%. Largest decreases: VENTAS INC 2.14% to 1.42%; APARTMENT INVT and MGMT CO 2.47% to 2.13%; FIDELITY REVERE STREET TRUST 8.28% to 7.99%; ACADIA RLTY TR 1.52% to 1.25%; MID-AMERICA APT CMNTYS INC 1.48% to 1.25%; VEREIT INC 0.7% to 0.53%. New: PENNYMAC CORP (0.39%), DIVERSIFIED HEALTHCARE TR (0.39%), AGNC INVESTMENT CORP (0.35%), BROADMARK REALTY CAPITAL INC (0.34%), PUBLIC STORAGE (0.3%), BX TR 2019-OC11 (0.29%). Gone: RWT HOLDINGS INC (0.54%), SENIOR HOUSING PPTYS TR (0.53%), TRINITY MERGER (0.3%), COLONY CAPITAL INC (0.22%), MRP GENERATION HOLDINGS LLC (0.22%), EXANTAS CAPITAL CORP (0.22%). Weights are shares of the fund's own investments, securities-lending collateral excluded; positions matched on identifiers.Fri, 20 Mar 2020 12:00:00 GMT