| | Murano Global Investments Plc | Real Estate - Development | Real Estate | -10.20 | -14.22 | -51.66 | -59.86 | -87.85 | -93.83 | -92.86 | -92.86 |
| | RenX Enterprises Corp | Real Estate - Development | Real Estate | -17.81 | -13.12 | 3.43 | -35.69 | -35.69 | -35.69 | -35.69 | -35.69 |
| | Logistic Properties of the Americas | Real Estate - Development | Real Estate | 2.92 | 3.35 | -13.03 | -21.59 | -57.49 | -74.60 | -84.56 | -84.56 |
| | Murano Global Investments Plc Wt | Real Estate - Development | Real Estate | -17.42 | 9.82 | -7.08 | -21.05 | -72.23 | -79.17 | -56.42 | -56.42 |
| | Belpointe PREP LLC | Real Estate - Development | Real Estate | -0.36 | -0.06 | -4.55 | -17.54 | -17.80 | -21.85 | 7.91 | -48.07 |
| | Five Point Holdings LLC Cl A | Real Estate - Development | Real Estate | 1.48 | 3.58 | -2.31 | -10.71 | 0.00 | -2.65 | 77.42 | 147.75 |
| | Howard Hughes Holdings Inc | Real Estate - Development | Real Estate | -0.94 | 1.83 | 0.44 | -0.98 | 10.58 | 11.95 | 12.90 | 10.38 |
| | Sky Harbour Group Corp | Real Estate - Development | Real Estate | -1.23 | 5.48 | -6.14 | 1.03 | -13.73 | -19.09 | -27.97 | 54.90 |
| | Alset Inc | Real Estate - Development | Real Estate | -3.97 | -2.42 | -17.97 | 3.86 | 105.08 | 120.00 | 127.23 | 21.61 |
| | Smith Douglas Homes Corp | Real Estate - Development | Real Estate | -4.69 | -5.01 | -18.76 | 4.41 | -16.90 | -26.84 | -38.96 | -28.92 |
| | Lead Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | -2.90 | 4.69 | -12.99 | 9.84 | -10.07 | -6.29 | -67.32 | -78.39 |
| | JFB Construction Holdings Cl A | Real Estate - Development | Real Estate | -2.08 | -27.25 | -16.94 | 23.66 | 176.18 | 484.71 | 484.71 | 484.71 |
| | Century Communities Inc | Real Estate - Development | Real Estate | -2.14 | -0.89 | 8.15 | 27.77 | 9.39 | 1.00 | -13.54 | 28.70 |
| | Forestar Group Inc | Real Estate - Development | Real Estate | -1.27 | -0.27 | 13.95 | 28.41 | 7.70 | 28.13 | -7.11 | 110.73 |
| | Amrep Corp | Real Estate - Development | Real Estate | 0.23 | 11.06 | 26.37 | 28.78 | 20.25 | -6.87 | 24.57 | 110.48 |