| Amrep Corp | Real Estate - Development | Real Estate | 0.92 | 14.81 | 27.35 | 62.66 | 86.47 | 120.77 | 230.67 | 170.15 |
| Forestar Group Inc | Real Estate - Development | Real Estate | 1.01 | -1.16 | -7.80 | -3.90 | -13.31 | -10.47 | 98.77 | 38.84 |
| Xinyuan Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | 3.73 | -9.49 | -16.29 | 19.29 | -15.01 | 18.23 | -16.50 | -58.77 |
| Lead Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | 1.38 | 4.51 | 37.50 | 36.65 | -54.07 | -67.07 | -64.52 | -64.52 |
| Century Communities Inc | Real Estate - Development | Real Estate | 1.66 | 2.85 | -4.14 | -8.62 | 5.33 | 24.71 | 95.34 | 27.48 |
| Five Point Holdings LLC Cl A | Real Estate - Development | Real Estate | -1.77 | 3.18 | -0.77 | 25.48 | 20.43 | 50.78 | 81.78 | -37.36 |
| Landsea Homes Corp | Real Estate - Development | Real Estate | 0.74 | 4.19 | -4.71 | -4.96 | 7.16 | 9.08 | 100.92 | 30.12 |
| Alset Inc | Real Estate - Development | Real Estate | -1.82 | 3.85 | -38.29 | -10.74 | 106.11 | -9.24 | -72.86 | -96.30 |
| Landsea Homes Corp Wt | Real Estate - Development | Real Estate | -2.27 | -6.48 | -14.00 | -28.33 | 3.51 | -1.42 | 78.87 | -8.72 |
| Belpointe PREP LLC | Real Estate - Development | Real Estate | 1.91 | 1.78 | 4.23 | 13.05 | 17.19 | -2.07 | -28.97 | -29.69 |
| Corp Inmobiliaria Vesta S.A.B. de C.V. ADR | Real Estate - Development | Real Estate | -0.57 | -4.29 | -5.34 | -13.30 | -34.53 | -33.69 | -22.39 | -22.39 |
| Safe & Green Development Corp | Real Estate - Development | Real Estate | 6.15 | -28.57 | -29.89 | -67.74 | -82.50 | -97.53 | -94.54 | -94.54 |
| Smith Douglas Homes Corp | Real Estate - Development | Real Estate | 6.57 | 10.06 | 1.66 | -6.69 | 25.43 | 39.96 | 39.96 | 39.96 |
| Murano Global Investments Plc | Real Estate - Development | Real Estate | -3.44 | 7.39 | 17.65 | 53.46 | -18.55 | -0.94 | -0.94 | -0.94 |
| Murano Global Investments Plc Wt | Real Estate - Development | Real Estate | 0.00 | -2.16 | 15.34 | 72.79 | -5.52 | 37.01 | 37.01 | 37.01 |
| Logistic Properties of the Americas | Real Estate - Development | Real Estate | -0.96 | -0.65 | -27.10 | -46.67 | -42.91 | -61.50 | -61.50 | -61.50 |
| Howard Hughes Holdings Inc | Real Estate - Diversified | Real Estate | 2.09 | 4.96 | 8.94 | 16.20 | 32.14 | 20.69 | 12.55 | 278.74 |
| Gaucho Group Holdings Inc | Real Estate - Diversified | Real Estate | -16.27 | -36.24 | -71.77 | -74.26 | -74.59 | -77.90 | -99.11 | -99.96 |
| Stratus Properties Inc | Real Estate - Diversified | Real Estate | 0.00 | 8.96 | 21.90 | 13.54 | 8.17 | -3.47 | 5.10 | -9.78 |
| Comstock Holding Cos. Inc Cl A | Real Estate - Diversified | Real Estate | -6.12 | 1.12 | -17.80 | 29.66 | 35.89 | 108.05 | 111.45 | 78.85 |
| St. Joe Co | Real Estate - Diversified | Real Estate | 1.26 | 1.26 | -11.60 | -13.63 | -11.56 | -4.35 | 42.15 | 1.97 |
| IRSA-Inversiones y Representaciones S.A. Gdr | Real Estate Services | Real Estate | -3.07 | 7.27 | 29.43 | 61.29 | 56.97 | 119.47 | 299.28 | 276.58 |
| Jones Lang LaSalle Inc | Real Estate Services | Real Estate | 1.68 | 0.79 | 0.76 | 6.51 | 32.60 | 69.59 | 62.69 | 2.12 |
| Gyrodyne LLC | Real Estate Services | Real Estate | -7.90 | -13.03 | -17.16 | 7.77 | 11.34 | -2.35 | -2.89 | -27.17 |