| | Amrep Corp | Real Estate - Development | Real Estate | -3.37 | -8.36 | -19.24 | -39.70 | -34.60 | -15.20 | 27.32 | 46.89 |
| | Forestar Group Inc | Real Estate - Development | Real Estate | -3.78 | -5.46 | -4.41 | -20.49 | -35.79 | -47.99 | 32.39 | 16.38 |
| | Xinyuan Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | -5.73 | -7.49 | -12.10 | -12.41 | -56.89 | -11.15 | -33.04 | -77.95 |
| | Lead Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | 7.63 | 10.73 | 5.94 | -26.08 | -14.93 | -67.66 | -78.30 | -78.30 |
| | Century Communities Inc | Real Estate - Development | Real Estate | -7.37 | -8.96 | -7.37 | -12.90 | -37.55 | -28.86 | 1.59 | 21.02 |
| | Five Point Holdings LLC Cl A | Real Estate - Development | Real Estate | -5.31 | -7.93 | -11.05 | 30.29 | 16.59 | 62.01 | 110.55 | -20.03 |
| | Landsea Homes Corp | Real Estate - Development | Real Estate | -10.05 | -14.77 | -14.26 | -29.38 | -51.31 | -56.91 | -11.23 | -35.10 |
| | Alset Inc | Real Estate - Development | Real Estate | -5.25 | -6.93 | 0.82 | -22.11 | -39.93 | 43.39 | -41.08 | -91.79 |
| | Landsea Homes Corp Wt | Real Estate - Development | Real Estate | -5.64 | -14.00 | -3.06 | -42.06 | -78.50 | -84.14 | -57.72 | -74.38 |
| | Belpointe PREP LLC | Real Estate - Development | Real Estate | 1.84 | 3.13 | 6.57 | -7.04 | -5.04 | 5.40 | -29.66 | -33.72 |
| | Safe & Green Development Corp | Real Estate - Development | Real Estate | -2.84 | -7.74 | 20.18 | -50.36 | -75.54 | -91.22 | -96.06 | -96.06 |
| | Smith Douglas Homes Corp | Real Estate - Development | Real Estate | -4.01 | -8.84 | -10.88 | -23.76 | -50.89 | -35.22 | -22.21 | -22.21 |
| | Murano Global Investments Plc | Real Estate - Development | Real Estate | 0.00 | -9.85 | -22.32 | -12.12 | 5.67 | -16.15 | -1.25 | -1.25 |
| | Murano Global Investments Plc Wt | Real Estate - Development | Real Estate | 0.90 | -12.11 | -2.77 | 2.50 | 85.10 | 148.48 | 77.49 | 77.49 |
| | Logistic Properties of the Americas | Real Estate - Development | Real Estate | 1.12 | -13.40 | -13.72 | -23.99 | -12.32 | 12.64 | -49.31 | -49.31 |
| | JFB Construction Holdings Cl A | Real Estate - Development | Real Estate | -0.74 | -1.23 | 15.14 | 15.14 | 15.14 | 15.14 | 15.14 | 15.14 |
| | Corp Inmobiliaria Vesta S.A.B. de C.V. ADR | Real Estate - Diversified | Real Estate | 9.17 | 6.82 | 7.01 | -1.08 | -6.17 | -35.22 | -19.97 | -19.97 |
| | Howard Hughes Holdings Inc | Real Estate - Diversified | Real Estate | -5.65 | -6.49 | -8.91 | -7.71 | -7.83 | 6.58 | -5.29 | 333.69 |
| | Stratus Properties Inc | Real Estate - Diversified | Real Estate | -7.14 | -9.83 | -7.20 | -20.13 | -32.53 | -25.33 | -18.95 | -55.72 |
| | Comstock Holding Cos. Inc Cl A | Real Estate - Diversified | Real Estate | 0.44 | -11.13 | 42.19 | 8.98 | -18.46 | 73.33 | 88.41 | 76.02 |
| | St. Joe Co | Real Estate - Diversified | Real Estate | -4.26 | -3.84 | -4.40 | 0.54 | -21.21 | -20.73 | 12.43 | -23.59 |
| | IRSA-Inversiones y Representaciones S.A. Gdr | Real Estate Services | Real Estate | -2.93 | -4.30 | -4.65 | -19.35 | 15.69 | 53.39 | 117.02 | 170.50 |
| | Jones Lang LaSalle Inc | Real Estate Services | Real Estate | -7.52 | -7.39 | -13.12 | -8.64 | -12.35 | 19.40 | 59.64 | -2.72 |
| | Gyrodyne LLC | Real Estate Services | Real Estate | -7.45 | -9.93 | -12.02 | -17.26 | -2.39 | -6.30 | -12.83 | -42.38 |
