# EDGAR Filing Document

**Accession Number:** 0001854370
**File Stem:** 0001854370-26-000007
**Filing Date:** 2026-5
**Character Count:** 21900
**Document Hash:** 4e8631c6b5be37f1b4fe64a1866aa98f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001854370-26-000007.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001854370-26-000007

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Thirdline Real Estate Income Fund
- **CENTRAL INDEX KEY:** 0001854370

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23653
- **FILM NUMBER:** 261039510

**BUSINESS ADDRESS:**
- **STREET 1:** 1810 MACTAVISH AVE
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23230
- **BUSINESS PHONE:** 804-564-6810

**MAIL ADDRESS:**
- **STREET 1:** 1810 MACTAVISH AVE
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23230

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Thirdline Trust
- **DATE OF NAME CHANGE:** 20210331

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Thirdline Real Estate Income Fund

- **b. Investment Company Act file number:** 811-23653

- **c. CIK number of Registrant:** 0001854370

- **d. LEI of Registrant:** 549300F1JKGJ8UVL7618

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1810 MacTavish Avenue

  - **City:** Richmond

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 23230

  - **Telephone number:** 804-564-6810

**Item A.2. Information about the Series.**

- **a. Name of Series:** Thirdline Real Estate Income Fund

- **c. LEI of Series:** 549300F1JKGJ8UVL7618

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $64281485.98

**Total Liabilities:** $5103924.02

**Net Assets:** $59177561.96

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -1.97%               | 0.32%                | -0.73%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-1536350.84                               |
| Month 2  | $0.00                    | $-137109.02                                |
| Month 3  | $-2000000.00             | $1632335.28                                |

### Schedule of Portfolio Investments

| Name                                            | Title                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| REXFORD INDUSTRIAL REALT                        | Rexford Industrial Realty Inc                   | CUSIP: 76169C407<br>LEI: 549300MSLO0DF0EMX355 | Long             | EP               | CORP              | US        |      2500 | NS      | $51250.00     | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| SEMPRA                                          | Sempra                                          | CUSIP: 816851604<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |      4600 | NS      | $94760.00     | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| SOUTHERN CO                                     | Southern Co/The                                 | CUSIP: 842587404<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |      2300 | NS      | $47748.00     | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| SOUTHERN CO                                     | Southern Co/The                                 | CUSIP: 842587883<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |      3754 | NS      | $63630.30     | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| EXCELSIOR STEPHENSON MEDICAL CIV, LLC   /       | EXCELSIOR STEPHENSON MEDICAL CIV, LLC   /       | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $753312.33    | 1.27%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Old Courthouse Owner LLC   /                    | Old Courthouse Owner LLC   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $1659790.49   | 2.80%             |  |  |  | Yes           | 3                  | On Loan: No      |
| EXCELSIOR SANDY SPRINGS CIV, LLC   /            | EXCELSIOR SANDY SPRINGS CIV, LLC   /            | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $538709.25    | 0.91%             |  |  |  | Yes           | 3                  | On Loan: No      |
| PREMIER LEXINGTON PARK, LLC   /                 | PREMIER LEXINGTON PARK, LLC   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |         1 | NS      | $1491000.00   | 2.52%             | 2032-03-31      | Fixed         | 9.00%                 | Yes           | 3                  | On Loan: No      |
| COOK MHP OWNER,LLC    /                         | COOK MHP OWNER,LLC    /                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $663033.60    | 1.12%             |  |  |  | Yes           | 3                  | On Loan: No      |
| GMF GRANITE MANAGER LLC   /                     | GMF GRANITE MANAGER LLC   /                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $631383.20    | 1.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| BAYWOODS ROAD OWNER LLC   /                     | BAYWOODS ROAD OWNER LLC   /                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $2359589.04   | 3.99%             |  |  |  | Yes           | 3                  | On Loan: No      |
| RIVERWALK ACQUISITIONS, LLC   /                 | RIVERWALK ACQUISITIONS, LLC   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $2028164.38   | 3.43%             |  |  |  | Yes           | 3                  | On Loan: No      |
| NW HOUSTON, LLC    /                            | NW HOUSTON, LLC    /                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $984000.00    | 1.66%             |  |  |  | Yes           | 3                  | On Loan: No      |
| E 79TH STREET MESS SELECT, LP   /               | E 79TH STREET MESS SELECT, LP   /               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |         1 | NS      | $500000.00    | 0.84%             | 2026-10-31      | Variable      | 13.63%                | Yes           | 3                  | On Loan: No      |
| PDOFQ2 22 LIVINGSTON SIDE CAR, LLC   /          | PDOFQ2 22 LIVINGSTON SIDE CAR, LLC   /          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |         1 | NS      | $3000000.00   | 5.07%             | 2025-06-30      | Variable      | 11.23%                | Yes           | 3                  | On Loan: No      |
| DETROIT PORTFOLIO CLASS A, LLC   /              | DETROIT PORTFOLIO CLASS A, LLC   /              | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $356000.00    | 0.60%             |  |  |  | Yes           | 3                  | On Loan: No      |
| FC STARCAST SA INVESTORS, LLC   /               | FC STARCAST SA INVESTORS, LLC   /               | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $2000000.00   | 3.38%             |  |  |  | Yes           | 3                  | On Loan: No      |
| AGREE REALTY CORP                               | Agree Realty Corp                               | CUSIP: 008492209<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      3500 | NS      | $58800.00     | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| AMERICAN HOMES 4 RENT                           | American Homes 4 Rent                           | CUSIP: 02665T876<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EP               | CORP              | US        |      2500 | NS      | $55800.00     | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| CMS ENERGY CORP                                 | CMS Energy Corp                                 | CUSIP: 125896837<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |      4450 | NS      | $74537.50     | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| DTE ENERGY CO                                   | DTE Energy Co                                   | CUSIP: 233331818<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |      4250 | NS      | $69912.50     | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| DIGITAL REALTY TRUST INC                        | Digital Realty Trust Inc                        | CUSIP: 253868822<br>LEI: 549300HKCZ31D08NEI41 | Long             | EP               | CORP              | US        |      3800 | NS      | $73720.00     | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| DUKE ENERGY CORP                                | Duke Energy Corp                                | CUSIP: 26441C501<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EP               | CORP              | US        |      5100 | NS      | $123930.00    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| ENTERGY ARKANSAS LLC                            | Entergy Arkansas LLC                            | CUSIP: 29364D100<br>LEI: 549300A0I5ONUIFMLP35 | Long             | EP               | CORP              | US        |      3600 | NS      | $70848.00     | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Real Estate Select Sector SPDR ETF | State Street Real Estate Select Sector SPDR ETF | CUSIP: 999999999<br>LEI: 549300SPMSTD3BRHL041 | N/A              | DE               |  | US        |      2800 | NC      | $91000.00     | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| FEDERAL REALTY INVS TRST                        | Federal Realty Investment Trust                 | CUSIP: 313745200<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EP               | CORP              | US        |      2500 | NS      | $48225.00     | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| KIMCO REALTY CORP                               | Kimco Realty Corp                               | CUSIP: 49446R737<br>LEI: 254900ARY41P4V1JL861 | Long             | EP               | CORP              | US        |      2500 | NS      | $48425.00     | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| MID-AMER APT COMMUNITIES                        | Mid-America Apartment Communities Inc           | CUSIP: 59522J889<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EP               | CORP              | US        |       800 | NS      | $42856.00     | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| NEXTERA ENERGY CAPITAL                          | NextEra Energy Capital Holdings Inc             | CUSIP: 65339K860<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |      5500 | NS      | $125730.00    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| PUBLIC STORAGE                                  | Public Storage                                  | CUSIP: 74460W487<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EP               | CORP              | US        |      4700 | NS      | $70641.00     | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| REGENCY CENTERS CORP                            | Regency Centers Corp                            | CUSIP: 758849889<br>LEI: 529900053A7X7FJ97S58 | Long             | EP               | CORP              | US        |       300 | NS      | $6705.00      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| RIPARIAN BALTIMORE SFR INVESTORS I, LLC   /     | RIPARIAN BALTIMORE SFR INVESTORS I, LLC   /     | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1500 | NS      | $1924000.00   | 3.25%             |  |  |  | Yes           | 3                  | On Loan: No      |
| RIPARIAN BALTIMORE SFR INVESTORS I, LLC   /     | RIPARIAN BALTIMORE SFR INVESTORS I, LLC   /     | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        38 | NS      | $24341.53     | 0.04%             |  |  |  | Yes           | 3                  | On Loan: No      |
| RIPARIAN HOUSING INVESTORS I, LLC   /           | RIPARIAN HOUSING INVESTORS I, LLC   /           | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |         1 | NS      | $2000000.00   | 3.38%             | 2025-07-31      | Fixed         | 15.00%                | Yes           | 3                  | On Loan: No      |
| BUCHANAN MORTGAGE FUND, LLC   /                 | BUCHANAN MORTGAGE FUND, LLC   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $3000000.00   | 5.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| 80-90 Central Ventur LLC   /                    | 80-90 Central Ventur LLC   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $3005000.00   | 5.08%             |  |  |  | Yes           | 3                  | On Loan: No      |
| RC CID Investors, LLC   /                       | RC CID Investors, LLC   /                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $2206000.00   | 3.73%             |  |  |  | Yes           | 3                  | On Loan: No      |
| QFP Rockwell Mezz    /                          | QFP Rockwell Mezz    /                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |         1 | NS      | $5000000.00   | 8.45%             | 2030-12-06      | Fixed         | 12.25%                | Yes           | 3                  | On Loan: No      |
| 232 5TH, LLC    /                               | 232 5TH, LLC    /                               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |         1 | NS      | $2000000.00   | 3.38%             | 2026-11-30      | Variable      | 7.93%                 | Yes           | 3                  | On Loan: No      |
| TCM CRE CREDIT FUND, LP   /                     | TCM CRE CREDIT FUND, LP   /                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2533 | NS      | $2401605.27   | 4.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SANDPIPER LODGING TRUST   /                     | SANDPIPER LODGING TRUST   /                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76190 | NS      | $929444.07    | 1.57%             |  |  |  | Yes           | 3                  | On Loan: No      |
| KAYNE ANDERSON REAL ESTATE DEBT IV, LP   /      | KAYNE ANDERSON REAL ESTATE DEBT IV, LP   /      | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $786193.25    | 1.33%             |  |  |  | Yes           | N/A                | On Loan: No      |
| HEITMAN CORE REAL ESTATE INCOME TRUST   /       | HEITMAN CORE REAL ESTATE INCOME TRUST   /       | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2984 | NS      | $1007100.03   | 1.70%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CMMPT-2, LP    /                                | CMMPT-2, LP    /                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $702275.68    | 1.19%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Beacon Partners Fund II, LP REIT   /            | Beacon Partners Fund II, LP REIT   /            | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4000000 | NS      | $4020904.12   | 6.79%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CBRE U.S. CREDIT PARTNERS, LP   /               | CBRE U.S. CREDIT PARTNERS, LP   /               | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2847 | NS      | $2824238.71   | 4.77%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PEACHTREE SSC MORTGA REIT, LLC   /              | PEACHTREE SSC MORTGA REIT, LLC   /              | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98001 | NS      | $1368923.04   | 2.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| INFINITY RE IMPACT III, LP   /                  | INFINITY RE IMPACT III, LP   /                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $3992594.17   | 6.75%             |  |  |  | Yes           | N/A                | On Loan: No      |
| GOODMAN CAPITAL LIQUID CREDIT STRTGY   /        | GOODMAN CAPITAL LIQUID CREDIT STRTGY   /        | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $5634886.56   | 9.52%             |  |  |  | Yes           | 3                  | On Loan: No      |
| STONEHILL STRAT HOTE CREDIT OPPORTUNITY   /     | STONEHILL STRAT HOTE CREDIT OPPORTUNITY   /     | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $300488.50    | 0.51%             |  |  |  | Yes           | N/A                | On Loan: No      |
| BROOKFIELD INFRASTRUCTUR                        | Brookfield Infrastructure Partners LP           | CUSIP: G16252267<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |      4700 | NS      | $75905.00     | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan US Government Money M                  | JPMorgan U.S. Government Money Market Fund      | CUSIP: 4812C0688<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |   1183777 | PA      | $1183777.44   | 2.00%             |  |  |  | No            | 1                  | On Loan: No      |
| RIVER MILL SELF STORAGE, LLC   /                | RIVER MILL SELF STORAGE, LLC   /                | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         1 | NS      | $1800000.00   | 3.04%             |  |  |  | Yes           | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2026-04-07

**Name of Applicant:** Thirdline Real Estate Income Fund

**Signature:** /s/ Larry Eiben

**Name of Signer:** Larry Eiben

**Title:** Treasurer