| Safe & Green Development Corp | Real Estate - Development | Real Estate | -18.40 | -34.21 | -40.34 | -47.50 | -74.68 | -92.93 | -97.74 | -97.74 |
| Landsea Homes Corp | Real Estate - Development | Real Estate | -2.46 | -4.03 | -4.65 | -24.68 | -42.46 | -41.38 | -10.93 | -28.40 |
| Logistic Properties of the Americas | Real Estate - Development | Real Estate | -1.80 | 0.22 | -23.19 | -30.42 | -5.88 | -3.61 | -57.47 | -57.47 |
| Landsea Homes Corp Wt | Real Estate - Development | Real Estate | -1.41 | -24.38 | -19.28 | -54.96 | -77.73 | -76.67 | -72.78 | -79.58 |
| Five Point Holdings LLC Cl A | Real Estate - Development | Real Estate | -0.95 | 0.19 | -1.70 | -15.97 | 28.64 | 79.04 | 115.29 | -11.69 |
| Century Communities Inc | Real Estate - Development | Real Estate | -0.28 | -3.38 | -19.00 | -26.84 | -38.19 | -31.15 | -15.31 | 3.47 |
| Belpointe PREP LLC | Real Estate - Development | Real Estate | 0.00 | 0.97 | -12.34 | 0.58 | -6.74 | 2.77 | -33.42 | -37.63 |
| Murano Global Investments Plc Wt | Real Estate - Development | Real Estate | 0.00 | -6.60 | -48.28 | -39.98 | -15.45 | 50.00 | 8.22 | 8.22 |
| Forestar Group Inc | Real Estate - Development | Real Estate | 0.62 | -2.22 | -8.54 | -14.66 | -37.94 | -37.84 | -1.57 | 18.03 |
| Smith Douglas Homes Corp | Real Estate - Development | Real Estate | 0.77 | -2.78 | 1.03 | -14.04 | -41.61 | -33.11 | -18.33 | -18.33 |
| Amrep Corp | Real Estate - Development | Real Estate | 0.93 | 0.44 | 15.53 | -24.36 | -26.56 | 10.49 | 62.34 | 81.21 |
| Murano Global Investments Plc | Real Estate - Development | Real Estate | 1.53 | -2.35 | -0.40 | -2.64 | 9.79 | -0.50 | 3.53 | 3.53 |
| Alset Inc | Real Estate - Development | Real Estate | 1.57 | 5.76 | -2.53 | 9.32 | -32.52 | 87.29 | -38.54 | -87.30 |
| Xinyuan Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | 1.57 | 1.98 | -3.43 | -5.58 | -33.95 | -2.88 | -31.10 | -77.44 |
| Lead Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | 9.68 | 4.96 | 10.93 | -16.05 | -30.97 | -55.99 | -78.06 | -78.06 |
| JFB Construction Holdings Cl A | Real Estate - Development | Real Estate | 10.41 | 15.44 | 2.70 | 30.29 | 30.29 | 30.29 | 30.29 | 30.29 |