| | Amrep Corp | Real Estate - Development | Real Estate | -1.73 | 0.92 | -0.71 | 14.62 | 43.11 | 76.53 | 143.64 | 110.27 |
| | Forestar Group Inc | Real Estate - Development | Real Estate | -0.22 | 0.73 | -1.92 | 0.03 | 0.70 | 35.28 | 174.18 | 62.24 |
| | Xinyuan Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | -0.52 | -3.51 | -11.90 | 28.89 | 41.54 | 41.03 | -10.47 | -66.52 |
| | Lead Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | -3.53 | 2.50 | 4.39 | -19.61 | -45.67 | -69.02 | -73.55 | -73.55 |
| | Century Communities Inc | Real Estate - Development | Real Estate | -1.61 | -2.89 | -12.75 | -12.44 | 12.20 | 47.90 | 107.36 | 39.44 |
| | Five Point Holdings LLC Cl A | Real Estate - Development | Real Estate | -0.26 | -0.51 | -6.02 | 16.42 | 33.11 | 78.08 | 71.05 | -47.01 |
| | Landsea Homes Corp | Real Estate - Development | Real Estate | -3.83 | -5.75 | -12.47 | -11.47 | -5.92 | 48.08 | 122.43 | 19.45 |
| | Alset Inc | Real Estate - Development | Real Estate | 0.59 | -2.86 | 31.78 | 39.14 | 189.61 | 29.77 | -57.71 | -95.73 |
| | Landsea Homes Corp Wt | Real Estate - Development | Real Estate | -9.55 | -14.00 | -26.60 | -21.82 | -12.53 | 26.47 | 66.34 | -31.09 |
| | Belpointe PREP LLC | Real Estate - Development | Real Estate | -0.83 | -2.91 | -5.10 | -7.57 | 8.71 | -5.07 | -28.80 | -34.52 |
| | Corp Inmobiliaria Vesta S.A.B. de C.V. ADR | Real Estate - Development | Real Estate | -1.42 | -2.96 | -7.00 | -11.31 | -31.33 | -18.70 | -20.44 | -20.44 |
| | Safe & Green Development Corp | Real Estate - Development | Real Estate | -7.07 | 26.20 | -46.39 | -43.04 | -71.86 | -82.19 | -90.17 | -90.17 |
| | Murano Global Investments Plc | Real Estate - Development | Real Estate | 0.00 | -8.64 | -16.85 | -11.22 | -7.15 | -23.08 | -23.08 | -23.08 |
| | Murano Global Investments Plc Wt | Real Estate - Development | Real Estate | 0.00 | 3.22 | 13.33 | 21.43 | 97.44 | 22.65 | 22.65 | 22.65 |
| | Logistic Properties of the Americas | Real Estate - Development | Real Estate | -0.38 | -7.10 | -17.97 | -53.99 | 15.44 | -50.94 | -50.94 | -50.94 |
| | Smith Douglas Homes Corp | Real Estate - Development | Real Estate | -0.12 | 3.00 | -9.93 | 6.11 | 17.30 | 41.79 | 41.79 | 41.79 |
| | Howard Hughes Holdings Inc | Real Estate - Diversified | Real Estate | -0.87 | -2.35 | -2.91 | 8.00 | 20.22 | 19.04 | 0.89 | 213.80 |
| | Gaucho Group Holdings Inc | Real Estate - Diversified | Real Estate | 3.83 | -1.07 | -10.14 | -29.15 | -25.00 | -53.90 | -97.90 | -99.87 |
| | Stratus Properties Inc | Real Estate - Diversified | Real Estate | 1.64 | 3.75 | -11.58 | -15.51 | 1.23 | -9.46 | -22.26 | -22.49 |
| | Comstock Holding Cos. Inc Cl A | Real Estate - Diversified | Real Estate | 9.60 | 10.40 | 21.67 | 90.82 | 61.21 | 189.75 | 210.87 | 175.62 |
| | St. Joe Co | Real Estate - Diversified | Real Estate | -1.55 | -9.04 | -10.50 | -16.45 | -10.55 | 13.54 | 49.64 | 13.96 |
| | IRSA-Inversiones y Representaciones S.A. Gdr | Real Estate Services | Real Estate | -1.22 | 5.82 | 13.44 | 42.18 | 43.29 | 123.13 | 204.28 | 177.04 |
| | Jones Lang LaSalle Inc | Real Estate Services | Real Estate | -0.39 | 4.11 | 0.82 | 7.58 | 48.07 | 117.70 | 70.98 | 5.34 |
| | Gyrodyne LLC | Real Estate Services | Real Estate | 0.00 | -4.13 | 33.46 | 27.89 | 31.77 | 11.76 | 11.82 | -18.42 |
