| Landsea Homes Corp Wt | Real Estate - Development | Real Estate | 5.11 | -10.14 | 2.74 | -44.52 | -76.37 | -84.44 | -55.20 | -72.85 |
| Safe & Green Development Corp | Real Estate - Development | Real Estate | 6.82 | 3.68 | 23.68 | -44.92 | -76.10 | -91.40 | -95.95 | -95.95 |
| Xinyuan Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | -0.76 | -1.87 | -6.76 | -6.51 | -57.95 | -6.09 | -28.97 | -76.61 |
| Smith Douglas Homes Corp | Real Estate - Development | Real Estate | 0.26 | -3.23 | -7.16 | -21.89 | -48.22 | -30.01 | -18.96 | -18.96 |
| Landsea Homes Corp | Real Estate - Development | Real Estate | 2.80 | -5.24 | -4.68 | -22.52 | -45.96 | -51.69 | -1.31 | -27.84 |
| Alset Inc | Real Estate - Development | Real Estate | -2.01 | 1.04 | 6.41 | -29.71 | -43.60 | 38.57 | -37.82 | -91.34 |
| Forestar Group Inc | Real Estate - Development | Real Estate | 1.04 | -1.02 | -0.65 | -16.43 | -32.78 | -44.59 | 37.60 | 20.96 |
| Amrep Corp | Real Estate - Development | Real Estate | -2.08 | -2.77 | -16.42 | -37.81 | -32.65 | -12.48 | 31.76 | 52.01 |
| Century Communities Inc | Real Estate - Development | Real Estate | 1.18 | -2.24 | 0.00 | -6.16 | -32.35 | -22.66 | 9.67 | 30.65 |
| Lead Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | 1.96 | 2.88 | -1.57 | -33.25 | -19.87 | -69.95 | -79.84 | -79.84 |
| Logistic Properties of the Americas | Real Estate - Development | Real Estate | -9.48 | -14.94 | -14.68 | -25.46 | -14.77 | 2.82 | -49.88 | -49.88 |
| Belpointe PREP LLC | Real Estate - Development | Real Estate | -8.73 | 1.27 | 4.65 | -8.07 | -6.15 | 5.55 | -30.93 | -34.92 |
| JFB Construction Holdings Cl A | Real Estate - Development | Real Estate | -8.56 | -2.17 | 16.00 | 16.00 | 16.00 | 16.00 | 16.00 | 16.00 |
| Five Point Holdings LLC Cl A | Real Estate - Development | Real Estate | -0.57 | -4.01 | -6.06 | 40.16 | 22.84 | 70.00 | 122.36 | -15.54 |
| Murano Global Investments Plc | Real Estate - Development | Real Estate | -3.66 | -9.01 | -18.23 | -4.76 | 23.91 | -16.67 | 3.95 | 3.95 |
| Murano Global Investments Plc Wt | Real Estate - Development | Real Estate | -15.93 | -14.46 | -3.64 | -1.85 | 83.45 | 143.80 | 75.90 | 75.90 |