TCW funds, an investment management company, recently published its third-quarter 2025 investor letter for the TCW Global Real Estate Fund. The fund, specifically the I Share, saw a return of +2.37% in the quarter, slightly lower than the +4.50% return of the S&P Global REIT Index. The fund’s performance was positively impacted by its overweight allocation in Diversified Real Estate Activities but negatively affected by its overweight in Telecom Tower REITs.
For more detailed information, interested parties can access the full investor letter by downloading it from this link. In the letter, TCW Global Real Estate Fund highlighted Travel + Leisure Co. (NYSE:TNL) as one of its top stock picks for the quarter. Travel + Leisure Co. is a hospitality services and travel products company operating in Vacation Ownership and Travel and Membership segments. The stock had a one-month return of 6.50% and gained nearly 45% over the past 52 weeks.
According to TCW Global Real Estate Fund’s investor letter, Travel + Leisure Co. (NYSE:TNL) was one of the best-performing securities in the quarter. The fund also mentioned Merlin Properties SOCIMI, S.A. as another strong performer during the period.
While Travel + Leisure Co. (NYSE:TNL) is not among the 30 most popular stocks held by hedge funds, it did see an increase in the number of hedge fund portfolios holding its shares in the third quarter of 2025. The company reported impressive financial figures, with revenues exceeding $1 billion, adjusted EBITDA of $266 million, and adjusted earnings per share of $1.80, all showing significant year-over-year growth.
Despite the potential of Travel + Leisure Co. (NYSE:TNL) as an investment, TCW Global Real Estate Fund believes that certain AI stocks offer greater upside potential with less downside risk. For investors seeking undervalued AI stocks that could benefit from current market trends, TCW Global Real Estate Fund recommends checking out their free report on the best short-term AI stock.
In conclusion, TCW Global Real Estate Fund’s third-quarter 2025 investor letter provides valuable insights into the fund’s performance and top stock picks. Investors looking for opportunities in the real estate and hospitality sectors may find the information in the letter helpful in making informed investment decisions.
