NPORT-P false 0001597634 XXXXXXXX APOLLO DIVERSIFIED REAL ESTATE FUND 811-22933 0001597634 549300M19PM53MCLJ804 9 W 57th St NEW YORK 10019 8889262688 Apollo Diversified Real Estate Fund 549300M19PM53MCLJ804 2026-09-30 2026-06-30 N 3435843524.97 179974053.55 3255869471.42 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 147500000.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 6020776.43000000 N Camden Property Trust 5493002MYX22OHYJBD89 133131102 245410.00000000 NS USD 28096990.90000000 0.862964291002 Long EC CORP US N 1 N N N Epr Properties 549300YSSXFHMPOWZ492 26884U109 86610.00000000 NS USD 5024246.10000000 0.154313498870 Long EC CORP US N 1 N N N N/A N/A N/A 85518.34000000 NS USD 98105700.57000000 3.013195136696 Long RE CORP US N N/A N N N Areit Cre Trust N/A 04002DAJ0 2500000.00000000 PA USD 2500252.00000000 0.076792144830 Long ABS-MBS CORP US Y 2 2043-07-25 Floating 6.38600000 N N N N N N N/A N/A N/A 5945.88130000 NS USD 12926707.06000000 0.397027803892 Long RE CORP US N N/A N N N N/A N/A N/A 37982.00500000 NS USD 17418713.02000000 0.534994205784 Long RE CORP US N N/A N N N Brightspire Capital, Inc N/A 116686AJ5 5000000.00000000 PA USD 4976609.50000000 0.152850399676 Long ABS-MBS CORP US Y 2 2043-08-19 Floating 6.48900000 N N N N N N Acres Plc N/A 00501XAJ0 4000000.00000000 PA USD 3992287.60000000 0.122618171122 Long ABS-MBS CORP US Y 2 2044-08-18 Floating 6.48700000 N N N N N N N/A N/A N/A 108233.71600000 NS USD 34630050.43000000 1.063619126441 Long RE CORP US N N/A N N N Equity Residential 5493008RACSH5EP3PI59 29476L107 222720.00000000 NS USD 15129369.60000000 0.464679856880 Long EC CORP US N 1 N N N Equity Lifestyle Properties Inc 529900PEQG66LENB6798 29472R108 264680.00000000 NS USD 17058626.00000000 0.523934578758 Long EC CORP US N 1 N N N Vici Properties Inc 254900RKH6RY9KCJQH63 925652109 1699715.00000000 NS USD 45127433.25000000 1.386033243842 Long EC CORP US N 1 N N N N/A N/A N/A 22977580.15370000 NS USD 34211548.87000000 1.050765369137 Long RE CORP US N N/A N N N N/A N/A N/A 39675.54050000 NS USD 54115804.51000000 1.662099939356 Long RE CORP US N N/A N N N Starwood Commercial Mortgage Trust N/A 863922AJ9 2000000.00000000 PA USD 1992533.60000000 0.061198202737 Long ABS-MBS CORP US Y 2 2042-11-19 Floating 6.28900000 N N N N N N Host Hotels & Resorts Inc N6EL63S0K3PB1YFTDI24 44107P104 802070.00000000 NS USD 19017079.70000000 0.584086059558 Long EC CORP US N 1 N N N Mf1 N/A 55287NAA5 29250000.00000000 PA USD 29276014.95000000 0.899176555048 Long ABS-MBS CORP US Y 2 2041-02-18 Floating 4.98700000 N N N N N N N/A N/A N/A 2752.07800000 NS USD 3495195.81000000 0.107350612199 Long RE CORP US N N/A N N N Cousins Properties Inc 5493007XPYD5EJABN062 222795502 503863.00000000 NS USD 15105812.74000000 0.463956337089 Long EC CORP US N 1 N N N N/A N/A N/A N/A NS USD 35788560.07000000 1.099201315782 Long RE CORP US N N/A N N N Rfm Re-remic Trust N/A 74983PAQ3 15292000.00000000 PA USD 11894721.63000000 0.365331649023 Long ABS-MBS CORP US Y 2 2031-01-30 Variable 1.86100000 N N N N N N Comm Mortgage Trust N/A 12593GAK8 3422998.10000000 PA USD 3310398.58000000 0.101674794062 Long ABS-MBS CORP US N 2 2050-07-10 Variable 4.52200000 N N N N N N American Healthcare Reit Inc 2549004GGE2APGNT6O92 398182303 281320.00000000 NS USD 14670838.00000000 0.450596626455 Long EC CORP US N 1 N N N Invitation Homes Inc 984500FE452E665C9F85 46187W107 2608707.00000000 NS USD 78809038.47000000 2.420522049848 Long EC CORP US N 1 N N N Omega Healthcare Investors Inc 549300OJ7ENK42CZ8E73 681936100 357078.00000000 NS USD 17025479.04000000 0.522916510918 Long EC CORP US N 1 N N N/A N/A N/A 7380.56900000 NS USD 140659386.09000000 4.320178905349 Long RE CORP US N N/A N N N N/A N/A N/A 200783.11900000 NS USD 219045840.31000000 6.727721803124 Long RE CORP US N N/A N N N Marriott International Inc/md 225YDZ14ZO8E1TXUSU86 571903202 14300.00000000 NS USD 5299437.00000000 0.162765646673 Long EC CORP US N 1 N N N Bluerock Private Real Estate Fund 549300DVMSW84SP6UG83 09631P102 124596.00000000 NS USD 1620993.96000000 0.049786822666 Long EC RF US N 1 N N N Bmo Mortgage Trust N/A 09663VAN0 2802800.00000000 PA USD 2405898.58000000 0.073894196346 Long ABS-MBS CORP US Y 2 2058-10-15 Fixed 4.50000000 N N N N N N Ventas Inc ORQTRC074CWLT3DKHT41 92276F100 581300.00000000 NS USD 51619440.00000000 1.585427193968 Long EC CORP US N 1 N N N Public Storage 254900GLQZAD4N7N5Q19 74460D109 143980.00000000 NS USD 45830273.80000000 1.407620121208 Long EC CORP US N 1 N N Acrec Llc N/A 004970AA7 15000000.00000000 PA USD 14996955.00000000 0.460612906372 Long ABS-MBS CORP KY Y 2 2030-02-18 Floating 5.08700000 N N N N N N Simon Property Group Inc 529900GQL5X8H7AO3T64 828806109 169000.00000000 NS USD 37796850.00000000 1.160883454689 Long EC CORP US N 1 N N Loancore Issuer, Ltd. N/A 53947FAA9 1700000.00000000 PA USD 1699183.83000000 0.052188327723 Long ABS-MBS CORP US Y 2 2029-11-01 Floating 5.02104000 N N N N N N Yucca Growth Infrastructure, LLC N/A N/A 2612474.75000000 PA USD 2573287.63000000 0.079035343787 Long LON CORP US N 3 2026-09-18 Floating 6.54200000 N N N N N N N/A N/A N/A 38914.66360000 NS USD 57144279.44000000 1.755115797534 Long RE CORP US N N/A N N N First Industrial Realty Trust Inc N/A 32054K103 208950.00000000 NS USD 12810724.50000000 0.393465543150 Long EC CORP US N 1 N N N Hyatt Hotels Corp T27JQIMTYSH41TCD5186 448579102 30000.00000000 NS USD 5815200.00000000 0.178606668696 Long EC CORP US N 1 N N N Bxp Inc 549300OF70FSEUQBT254 101121101 140410.00000000 NS USD 9310587.10000000 0.285963156131 Long EC CORP US N 1 N N N Gaming And Leisure Properties Inc 5493006GWRDBCZYWTM57 36467J108 63350.00000000 NS USD 2820975.50000000 0.086642770073 Long EC CORP US N 1 N N N Barclays Commercial Mortgage Securities Llc N/A 05494NAL5 1689250.00000000 PA USD 1465157.14000000 0.045000487668 Long ABS-MBS CORP US Y 2 2058-09-15 Fixed 4.50000000 N N N N N N Hilton Worldwide Holdings Inc 549300HVGPK36ICB0B89 43300A203 16100.00000000 NS USD 5320406.00000000 0.163409683548 Long EC CORP US N 1 N N N Areit Cre Trust N/A 04002DAA9 20000000.00000000 PA USD 20043514.00000000 0.615611718342 Long ABS-MBS CORP US Y 2 2043-07-25 Floating 5.18600000 N N N N N N N/A N/A N/A 118170.61240000 NS USD 115143646.17000000 3.536494542570 Long RE CORP US N N/A N N N Yucca Growth Infrastructure, LLC N/A N/A 17591972.57990000 PA USD 17328092.99000000 0.532210923751 Long LON CORP US N 3 2026-09-18 Floating 2.15800000 N N N N N N Loancore Issuer, Ltd. N/A 538912AJ5 2000000.00000000 PA USD 1996350.80000000 0.061315443310 Long ABS-MBS CORP US Y 2 2042-08-18 Floating 6.28700000 N N N N N N American Homes 4 Rent 549300ZJUO7A58PNUW40 02665T876 40284.00000000 NS USD 906390.00000000 0.027838646725 Long EP CORP US N 1 N N N Americold Realty Trust Inc 894500O3S3W62PQPO460 03064D108 227720.00000000 NS USD 3579758.40000000 0.109947847462 Long EC CORP US N 1 N N N Pfp Iii N/A 716966AA4 10000000.00000000 PA USD 10012597.00000000 0.307524521111 Long ABS-MBS CORP KY Y 2 2043-08-18 Floating 5.13700000 N N N N N N Iron Mountain Inc SQL3F6CKNNBM3SQGHX24 46284V101 265539.00000000 NS USD 33540231.09000000 1.030146674626 Long EC CORP US N 1 N N Bspdf Issuer Ltd N/A 05594VAJ1 1000000.00000000 PA USD 990747.00000000 0.030429567545 Long ABS-MBS CORP US Y 2 2031-09-18 Floating 6.38700000 N N N N N N N/A N/A N/A 36855.47070000 NS USD 105623175.34000000 3.244085067511 Long RE CORP US N N/A N N N Healthcare Realty Trust Inc 549300L0I14L7I0VLX84 42226K105 677181.00000000 NS USD 13658740.77000000 0.419511313027 Long EC CORP US N 1 N N N Macerich Co/the 529900PSWCB5KI0JYU46 554382101 609640.00000000 NS USD 15356831.60000000 0.471666070608 Long EC CORP US N 1 N N American Homes 4 Rent 549300ZJUO7A58PNUW40 02665T868 181301.00000000 NS USD 4217061.26000000 0.129521815816 Long EP CORP US N 1 N N N Kite Realty Group Trust N/A 49803T300 768330.00000000 NS USD 21805205.40000000 0.669719888693 Long EC CORP US N 1 N N N Realty Income Corp 549300CUWDAUZSH43859 756109104 508760.00000000 NS USD 31522769.60000000 0.968182842607 Long EC CORP US N 1 N N N Realty Income U.S. Core Plus Fund, L.P. N/A N/A 122594.06900000 NS USD 145589324.53000000 4.471595861197 Long RE CORP US N N/A N N N N/A N/A N/A 55699.37900000 NS USD 84411461.65000000 2.592593541939 Long RE CORP US N N/A N N N N/A N/A N/A 4354.20700000 NS USD 10886802.56000000 0.334374662607 Long RE CORP US N N/A N N N Extra Space Storage Inc 529900SDJHKRQWED6A16 30225T102 286510.00000000 NS USD 41629903.00000000 1.278610932208 Long EC CORP US N 1 N N N/A N/A N/A 129.13100000 NS USD 13369033.45000000 0.410613311355 Long RE CORP US N N/A N N N N/A N/A N/A 1023.27430000 NS USD 9091909.54000000 0.279246745602 Long RE CORP US N N/A N N N N/A N/A N/A N/A NS USD 116747009.19000000 3.585739852743 Long RE CORP US N N/A N N N N/A N/A N/A 124737.32300000 NS USD 131091145.23000000 4.026302232958 Long RE CORP US N N/A N N N Brixmor Property Group Inc 5299007UXW6Y0W2EGZ95 11120U105 1024300.00000000 NS USD 32296179.00000000 0.991937154836 Long EC CORP US N 1 N N N N/A N/A N/A N/A NS USD 25338234.00000000 0.778232488200 Long RE CORP US N N/A N N N Acore Issuer, Llc N/A 00485EAJ2 2000000.00000000 PA USD 1990213.60000000 0.061126946810 Long ABS-MBS CORP KY Y 2 2030-11-20 Floating 6.38900000 N N N N N N Agree Realty Corp 98450090H010B37OEB68 008492100 315810.00000000 NS USD 23919449.40000000 0.734656275688 Long EC CORP US N 1 N N N Lineage Inc N/A 53566V106 363006.00000000 NS USD 15700009.50000000 0.482206354948 Long EC CORP US N 1 N N N Core Scientific Inc 5299003RGB2LAZ65RK73 21874A106 619999.00000000 NS USD 15865774.41000000 0.487297618939 Long EC CORP US N 1 N N N American Homes 4 Rent 549300ZJUO7A58PNUW40 02665T306 924070.00000000 NS USD 30974826.40000000 0.951353445581 Long EC CORP US N 1 N N N Fs Rialto Issuer Ltd N/A 30343TAJ8 8000000.00000000 PA USD 7991157.60000000 0.245438512512 Long ABS-MBS CORP KY Y 2 2044-01-19 Floating 6.28900000 N N N N N N Udr Inc P3CH2EG5X6Z1XWU1OO74 902653104 754130.00000000 NS USD 30104869.60000000 0.924633799489 Long EC CORP US N 1 N N Essex Property Trust Inc 549300TR2H2VEFX0NC60 297178105 48060.00000000 NS USD 14013815.40000000 0.430416990699 Long EC CORP US N 1 N N N N/A N/A N/A 10588.55210000 NS USD 13236284.26000000 0.406536084329 Long RE CORP US N N/A N N N Regency Centers Corp 529900053A7X7FJ97S58 758849889 103013.00000000 NS USD 2328093.80000000 0.071504518852 Long EP CORP US N 1 N N N N/A N/A N/A N/A NS USD 100714097.84000000 3.093308829609 Long RE CORP US N N/A N N N N/A N/A N/A N/A NS USD 15564478.28000000 0.478043681315 Long RE CORP US N N/A N N N Mf1 N/A 55287KAA1 25000000.00000000 PA USD 25043080.00000000 0.769167198495 Long ABS-MBS CORP US Y 2 2030-04-18 Floating 5.12510000 N N N N N N N/A N/A N/A 71009.10530000 NS USD 120860981.64000000 3.712095423385 Long RE CORP US N N/A N N N Churchill Downs Inc 529900FODTBQC8MIS994 171484108 499482.00000000 NS USD 44773566.48000000 1.375164664094 Long EC CORP US N 1 N N N Saul Centers Inc N/A 804395879 45749.00000000 NS USD 984060.99000000 0.030224215025 Long EP CORP US N 1 N N N Bsprt Issuer, Ltd. N/A 05619BAJ6 1500000.00000000 PA USD 1497985.65000000 0.046008774711 Long ABS-CBDO CORP US Y 2 2043-01-17 Floating 6.33200000 N N N N N N N/A N/A N/A 158318.41010000 NS USD 172583049.09000000 5.300674692426 Long RE CORP US N N/A N N N Msilf Treasury Portfolio 549300D1XR6GP7EZ0T47 61747C582 7178911.63000000 NS USD 7178911.63000000 0.220491383116 Long STIV RF US N 1 N N N Pfp Iii N/A 69382JAA9 16000000.00000000 PA USD 16041251.20000000 0.492687171301 Long ABS-MBS CORP KY Y 2 2030-06-18 Floating 5.12620000 N N N N N N N/A N/A N/A 4859.82000000 NS USD 8370244.53000000 0.257081698252 Long RE CORP US N N/A N N N Hudson Pacific Propertie 529900EURZA5HRSXQ389 444097307 9210.00000000 NS USD 128019.00000000 0.003931945095 Long EP CORP US N 1 N N N Wyndham Hotels & Resorts Inc 549300FE3MQ4RVXXC673 98311A105 58850.00000000 NS USD 4955758.50000000 0.152209987025 Long EC CORP US N 1 N N N N/A N/A N/A 206747478.79730000 NS USD 259854496.93000000 7.981109169486 Long RE CORP US N N/A N N N Gs Mortgage Securities Trust 549300WZ62L3Y22NOZ64 36252AAH9 2737348.00000000 PA USD 2572556.23000000 0.079012879741 Long ABS-MBS CORP US N 2 2048-11-10 Variable 4.23800000 N N N N N N N/A N/A N/A 16791.97230000 NS USD 63466799.80000000 1.949304183018 Long RE CORP US N N/A N N N Kimco Realty Corp 254900ARY41P4V1JL861 49446R109 1242255.00000000 NS USD 31491164.25000000 0.967212123410 Long EC CORP US N 1 N N N/A N/A N/A 113734.68000000 NS USD 112080763.02000000 3.442421878513 Long RE CORP US N N/A N N N 2026-07-30 APOLLO DIVERSIFIED REAL ESTATE FUND Kenneth Seifert Kenneth Seifert Treasurer (Principal Financial Officer) XXXX