Thirdline Real Estate Income Fund
Fund
TREIX
Price as of:
$10.05
+ $0.01
+ 0.10%
Primary Theme
fund company
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
4.9%
1 yr return
4.0%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$64.5 M
Holdings in Top 10
58.8%
52 WEEK LOW AND HIGH
$10.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.96%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 58.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$50,000
IRA
$50,000
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
TREIX - Profile
Distributions
- YTD Total Return 4.9%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.52%
- Dividend Yield 7.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameThirdline Real Estate Income Fund
-
Fund Family NameThrivent
-
Inception DateNov 22, 2022
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDarren M. Bagwell
Fund Description
TREIX - Performance
Return Ranking - Trailing
| Period | TREIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.9% | -13.1% | 23.9% | 67.62% |
| 1 Yr | 4.0% | -8.5% | 28.1% | 81.90% |
| 3 Yr | N/A* | -20.9% | 24.0% | N/A |
| 5 Yr | N/A* | -0.1% | 36.7% | N/A |
| 10 Yr | N/A* | -6.0% | 13.0% | 67.44% |
* Annualized
Return Ranking - Calendar
| Period | TREIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.5% | -13.1% | 52.1% | 48.08% |
| 2022 | N/A | -34.9% | 34.0% | N/A |
| 2021 | N/A | -4.9% | 83.5% | N/A |
| 2020 | N/A | -23.4% | 126.4% | N/A |
| 2019 | N/A | -25.1% | 36.9% | N/A |
Total Return Ranking - Trailing
| Period | TREIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.9% | -13.1% | 23.9% | 67.62% |
| 1 Yr | 4.0% | -8.5% | 28.1% | 81.90% |
| 3 Yr | N/A* | -20.9% | 24.0% | N/A |
| 5 Yr | N/A* | -0.1% | 36.7% | N/A |
| 10 Yr | N/A* | -6.0% | 13.0% | 68.60% |
* Annualized
Total Return Ranking - Calendar
| Period | TREIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.1% | -12.2% | 57.6% | 50.00% |
| 2022 | N/A | -32.2% | 35.5% | N/A |
| 2021 | N/A | -2.5% | 83.6% | N/A |
| 2020 | N/A | -22.2% | 127.8% | N/A |
| 2019 | N/A | -25.1% | 37.6% | N/A |
NAV & Total Return History
TREIX - Holdings
Concentration Analysis
| TREIX | Category Low | Category High | TREIX % Rank | |
|---|---|---|---|---|
| Net Assets | 64.5 M | 1.31 M | 6.25 B | 86.67% |
| Number of Holdings | 55 | 26 | 317 | 45.71% |
| Net Assets in Top 10 | 38 M | 547 K | 3.65 B | 85.71% |
| Weighting of Top 10 | 58.84% | 16.8% | 76.1% | 18.10% |
Top 10 Holdings
- GOODMAN CAPITAL LIQUID CREDIT STRTGY / 9.45%
- BARINGS REAL ESTATE DEBT INCOME FUND LP / 7.94%
- IFM USIDF (OFFSHORE) B, LP / 6.80%
- Beacon Partners Fund II, LP REIT / 6.45%
- INFINITY RE IMPACT III, LP / 5.92%
- E 79TH STREET MESS SELECT, LP / 5.19%
- PDOFQ2 22 LIVINGSTON SIDE CAR, LLC / 4.65%
- CBRE U.S. CREDIT PARTNERS, LP / 4.62%
- RHINO 117 SOUTH INVESTORS, LLC / 4.02%
- TCM CRE CREDIT FUND, LP / 3.81%
Asset Allocation
| Weighting | Return Low | Return High | TREIX % Rank | |
|---|---|---|---|---|
| Stocks | 99.03% | 0.00% | 100.27% | 60.00% |
| Bonds | 17.09% | 0.00% | 83.60% | 1.90% |
| Preferred Stocks | 1.46% | 0.00% | 6.24% | 7.62% |
| Cash | 0.28% | 0.00% | 21.06% | 85.71% |
| Other | 0.03% | -0.08% | 23.81% | 10.48% |
| Convertible Bonds | 0.00% | 0.00% | 0.43% | 82.86% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | TREIX % Rank | |
|---|---|---|---|---|
| Energy | 83.72% | 0.00% | 89.67% | 1.90% |
| Basic Materials | 8.62% | 2.49% | 100.00% | 91.43% |
| Consumer Cyclical | 6.22% | 0.00% | 43.37% | 19.05% |
| Industrials | 0.50% | 0.00% | 63.67% | 80.95% |
| Utilities | 0.00% | 0.00% | 35.93% | 92.38% |
| Technology | 0.00% | 0.00% | 17.68% | 90.48% |
| Real Estate | 0.00% | 0.00% | 36.20% | 87.62% |
| Healthcare | 0.00% | 0.00% | 22.67% | 89.52% |
| Financial Services | 0.00% | 0.00% | 4.52% | 84.76% |
| Communication Services | 0.00% | 0.00% | 0.21% | 82.86% |
| Consumer Defense | 0.00% | 0.00% | 33.96% | 88.57% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | TREIX % Rank | |
|---|---|---|---|---|
| US | 99.03% | 0.00% | 99.96% | 17.14% |
| Non US | 0.00% | 0.00% | 89.12% | 94.29% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | TREIX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 0.28% | 0.00% | 100.00% | 75.24% |
| Derivative | 0.03% | -0.08% | 0.47% | 3.81% |
| Securitized | 0.00% | 0.00% | 0.00% | 83.17% |
| Corporate | 0.00% | 0.00% | 96.42% | 86.14% |
| Municipal | 0.00% | 0.00% | 0.00% | 83.17% |
| Government | 0.00% | 0.00% | 91.38% | 84.16% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | TREIX % Rank | |
|---|---|---|---|---|
| US | 17.09% | 0.00% | 83.40% | 1.90% |
| Non US | 0.00% | 0.00% | 2.40% | 83.81% |
TREIX - Expenses
Operational Fees
| TREIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.96% | 0.08% | 4.45% | 48.57% |
| Management Fee | 0.80% | 0.00% | 1.25% | 61.90% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.03% | 0.25% | N/A |
Sales Fees
| TREIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| TREIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| TREIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 58.00% | 4.00% | 169.00% | 65.52% |
TREIX - Distributions
Dividend Yield Analysis
| TREIX | Category Low | Category High | TREIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.98% | 0.00% | 12.19% | 72.38% |
Dividend Distribution Analysis
| TREIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
| TREIX | Category Low | Category High | TREIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.52% | -35.65% | 6.21% | 78.85% |
Capital Gain Distribution Analysis
| TREIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.175 | OrdinaryDividend |
| Jun 28, 2024 | $0.175 | OrdinaryDividend |
| Jun 30, 2023 | $0.156 | OrdinaryDividend |
| Oct 21, 2022 | $0.150 | OrdinaryDividend |
TREIX - Fund Manager Analysis
Managers
Darren M. Bagwell
Start Date
Tenure
Tenure Rank
Oct 10, 2011
3.81
3.8%
Darren M. Bagwell, CFA has served as portfolio manager for the Thrivent Small Cap Stock Portfolio since 2010. He has been with Thrivent since 2002 in an investment management capacity and currently is Director of Research.
David C. Francis
Start Date
Tenure
Tenure Rank
Oct 10, 2011
3.81
3.8%
Francis is vice president of Investment Equities and has been with Thrivent since 2001. He was managing director of institutional asset management for First Union National Bank of North Carolina, his employer since 1994. One year prior to this, Francis served as director of equity management. He also worked for Federated Investors as senior vice president and portfolio manager for 16 years. Francis holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.16 | 24.18 | 7.58 | 0.54 |