Investment objective & strategy
As of April 30, 2025 · prospectusObjective. The Fund seeks to obtain a favorable long-term total return through both capital appreciation and current income, by investing primarily in equity securities of companies principally engaged in or related to the real estate industry.
Strategy. Under normal circumstances, the Fund invests at least 80% of its assets in the securities of companies that are principally engaged in or related to the real estate industry (real estate securities), including those that own significant real estate assets, such as real estate investment trusts (REITs). The Fund will invest primarily in equity securities of such companies. The Fund is actively managed using a research-oriented process with a focus on cash flows, asset values and Teachers Advisors, LLCs (Advisors) belief in managements ability to increase shareholder value. The Fund does not invest directly in real estate. The Fund concentrates its investments in the real estate industry. From time to time, the Fund may also invest in debt securities of … Under normal circumstances, the Fund invests at least 80% of its assets in the securities of companies that are principally engaged in or related to the real estate industry (real estate securities), including those that own significant real estate assets, such as real estate investment trusts (REITs). The Fund will invest primarily in equity securities of such companies. The Fund is actively managed using a research-oriented process with a focus on cash flows, asset values and Teachers Advisors, LLCs (Advisors) belief in managements ability to increase shareholder value. The Fund does not invest directly in real estate. The Fund concentrates its investments in the real estate industry. From time to time, the Fund may also invest in debt securities of companies principally engaged in or related to the real estate industry. For purposes of the 80% investment policy, the term assets means net assets, plus the amount of any borrowings for investment purposes. An issuer is principally engaged in or principally related to the real estate industry if at least 50% of its assets, gross income or net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate, or to products or services related to the real estate industry. The Fund typically invests in securities issued by equity REITs (which directly own real estate), mortgage REITs (which make short-term construction or real estate development loans or invest in long-term mortgages or mortgage pools), real estate brokers and developers, homebuilders, companies that manage real estate and companies that own substantial amounts of real estate. Businesses related to the real estate industry include manufacturers and distributors of building supplies and financial institutions that make or service mortgage loans. The Fund also may invest up to 15% of its assets in real estate securities of foreign issuers and up to 20% of its assets in equity (including preferred stock) and debt securities of issuers that are not engaged in or related to the real estate industry. The benchmark index for the Fund is the FTSE Nareit All Equity REITs Index.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| WELLTOWER INC | — | $294.77M | 11.42% |
| PROLOGIS INC REIT | — | $183.00M | 7.09% |
| EQUINIX INC | — | $177.47M | 6.88% |
| DIGITAL REALTY TRUST INC | — | $139.20M | 5.39% |
| AMERICAN TOWER CORP | — | $127.30M | 4.93% |
| SIMON PROPERTY | — | $110.71M | 4.29% |
| VENTAS INC REIT | — | $95.85M | 3.71% |
| IRON MOUNTAIN INC | — | $65.68M | 2.54% |
| CROWN CASTLE INC | — | $64.84M | 2.51% |
| EQUITY RESIDENTIAL REIT | — | $58.94M | 2.28% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Nuveen Life Real Estate Securities Select Fund · TLRSX | 98% | 0.57% |
| Nuveen Real Estate Securities Fund · FREAX, FRLCX, FARCX, FREGX | 87% | 0.78% |
| THRIVENT REAL ESTATE SECURITIES PORTFOLIO | 72% | 0.89% |
Advisers
| Firm | Role |
|---|---|
| Teachers Advisors, LLC | Adviser |
Footnotes
- Expense ratio as of April 30, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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