| | Amrep Corp | Real Estate - Development | Real Estate | -2.22 | -6.25 | -7.49 | -31.52 | -12.09 | -39.60 | -10.64 | 54.66 |
| | Forestar Group Inc | Real Estate - Development | Real Estate | -6.00 | -5.19 | 9.18 | -5.76 | 29.35 | -1.21 | -26.33 | 64.99 |
| | Lead Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | -0.01 | 2.93 | 14.75 | -22.23 | -16.67 | -29.65 | -78.26 | -77.42 |
| | Century Communities Inc | Real Estate - Development | Real Estate | -2.58 | -5.67 | 6.28 | -9.34 | 13.31 | -19.02 | -29.51 | 21.76 |
| | Sky Harbour Group Corp | Real Estate - Development | Real Estate | -2.29 | -11.03 | -2.51 | -15.18 | -10.84 | -32.68 | -25.13 | 236.61 |
| | Five Point Holdings LLC Cl A | Real Estate - Development | Real Estate | -2.83 | -2.14 | -10.88 | -11.88 | -0.18 | 60.06 | 100.36 | 170.44 |
| | Alset Inc | Real Estate - Development | Real Estate | 4.23 | -11.73 | 16.31 | -21.90 | 190.34 | 181.70 | 226.11 | -10.26 |
| | Howard Hughes Holdings Inc | Real Estate - Development | Real Estate | -6.37 | -7.22 | -5.54 | -5.33 | 13.28 | 4.17 | -1.20 | 5.29 |
| | Belpointe PREP LLC | Real Estate - Development | Real Estate | -3.79 | 1.78 | 5.72 | 0.86 | -2.21 | -18.30 | -12.25 | -35.47 |
| | Safe & Green Development Corp | Real Estate - Development | Real Estate | 42.26 | -2.63 | -73.21 | -81.07 | -74.04 | -88.14 | -99.19 | -99.24 |
| | Smith Douglas Homes Corp | Real Estate - Development | Real Estate | -3.09 | -9.48 | 22.77 | 8.73 | 9.86 | -29.47 | -16.42 | -16.42 |
| | Murano Global Investments Plc | Real Estate - Development | Real Estate | -7.85 | -18.87 | -50.42 | -70.07 | -91.60 | -91.44 | -91.19 | -91.19 |
| | Murano Global Investments Plc Wt | Real Estate - Development | Real Estate | -1.23 | -51.95 | -58.17 | -73.98 | -77.30 | -82.00 | -76.91 | -76.91 |
| | Logistic Properties of the Americas | Real Estate - Development | Real Estate | 6.86 | 1.02 | -6.03 | -53.02 | -55.82 | -70.22 | -81.50 | -81.50 |
| | JFB Construction Holdings Cl A | Real Estate - Development | Real Estate | -3.24 | -6.15 | -15.11 | 134.95 | 164.60 | 301.43 | 301.43 | 301.43 |