# EDGAR Filing Document

**Accession Number:** 0001663712
**File Stem:** 0001752724-25-147369
**Filing Date:** 2025-6
**Character Count:** 17636
**Document Hash:** 024387866e600be380e559bc9630c126
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-147369.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0001752724-25-147369

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250618

**PERIOD START**: 20241231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEXPOINT REAL ESTATE STRATEGIES FUND
- **CENTRAL INDEX KEY:** 0001663712

**ORGANIZATION NAME:**
- **EIN:** 811061590
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23129
- **FILM NUMBER:** 251055164

**BUSINESS ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT
- **STREET 2:** SUITE 700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 214-276-6300

**MAIL ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT
- **STREET 2:** SUITE 700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** NEXPOINT REAL ESTATE STRATEGIES FUND

- **b. Investment Company Act file number:** 811-23129

- **c. CIK number of Registrant:** 0001663712

- **d. LEI of Registrant:** 254900I8YGFSQ717PG17

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 200 CRESCENT COURT

  - **City:** DALLAS

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 75201

  - **Telephone number:** 9726284100

**Item A.2. Information about the Series.**

- **a. Name of Series:** NEXPOINT REAL ESTATE STRATEGIES FUND

- **c. LEI of Series:** 254900I8YGFSQ717PG17

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2024-12-31

- **b. Date as of which information is reported:** 2024-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $41833245.29

**Total Liabilities:** $7091959.72

**Net Assets:** $34741285.57

**Cash Not Reported:** $2718729.74

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -5.72%               | -4.01%               | -9.29%               |
| Class ID N/A | -1.01%               | 0.85%                | -4.86%               |
| Class ID N/A | 0.08%                | 1.92%                | -3.75%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $102774.75               | $-300099.94                                |
| Month 2  | $0.00                    | $631288.89                                 |
| Month 3  | $1659.75                 | $-1476000.39                               |

**Designated Index Information**

- **Index Name:** MSCI US REIT Index

- **Index Identifier:** RMZ Index

### Schedule of Portfolio Investments

| Name                                    | Title                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                                     | SFR OPERATING PARTNERSHIP, L.P. CONVERTIBLE NOTE                | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    100000 | PA      | $98150.00     | 0.28%             | N/A             | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| N/A                                     | IQHQ, LP                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1451896 | PA      | $1181950.06   | 3.40%             | 2025-05-23      | Floating      | 16.50%                | No            |                  3 | On Loan: No      |
| IRON MOUNTAIN INCORPORATED              | IRON MOUNTAIN INC REIT                                          | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |      3800 | NS      | $399418.00    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXPOINT RESIDENTIAL TRUST, INC.        | NEXPOINT RESIDENTIAL REIT                                       | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               |  | US        |     28322 | NS      | $1182443.50   | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MID-AMERICA APARTMENT COMMUNITIES, INC. | MID-AMERICA APARTMENT COMM REIT                                 | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               |  | US        |      1800 | NS      | $278226.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                     | NRESF REIT SUB, LLC Common Stock                                | CUSIP: 98919V105<br>LEI: N/A                  | Long             | EC               |  | US        | 149385399 | NS      | $5258366.06   | 15.14%            |  |  |  | No            |                  3 | On Loan: No      |
| FRESB MORTGAGE TRUST                    | FRESB 2020-SB76 MORTGAGE TRUST FRESB 2020-SB76 X1               | CUSIP: 30315EAE6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |  16306074 | PA      | $667852.77    | 1.92%             | 2030-05-25      | Floating      | 1.15%                 | No            |                  2 | On Loan: No      |
| N/A                                     | FREMF 2024-K520 C 6.59                                          | CUSIP: FREM5RR09<br>LEI: N/A                  | Short            | RA               |  | US        |  -1038000 | PA      | $-1038000.00  | -2.99%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                     | FRESB 2020-SB76 X1 5.64                                         | CUSIP: FRESBRR07<br>LEI: N/A                  | Short            | RA               |  | US        |   -317000 | PA      | $-317000.00   | -0.91%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                     | IQHQ SERIES D-1 PREF COMMON STOCK                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   2106000 | PA      | $2065564.80   | 5.95%             | 2049-12-31      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| N/A                                     | DREYFUS TREASURY PRIME CASH MANAGEMENT/ CLASS A                 | CUSIP: 261908107<br>LEI: N/A                  | Long             | STIV             |  | US        |   2402535 | PA      | $2402535.41   | 6.92%             |  |  |  | No            |                  1 | On Loan: No      |
| CIFC FUNDING LTD                        | CIFC 2014-5A SUB - CIFC Funding 2014-V Ltd 10/17/2031           | CUSIP: 12550BAE4<br>LEI: N/A                  | Long             | ABS-MBS          |  | KY        |    291000 | PA      | $160777.50    | 0.46%             | 2031-10-17      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                     | DREAM REIT SUB COMMON STOCK                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |     75000 | NS      | $1500000.00   | 4.32%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                     | UNITED DEVELOPMENT FUNDING I REIT                               | CUSIP: 910187103<br>LEI: N/A                  | Long             | EC               |  | US        |     55029 | NS      | $238649.00    | 0.69%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                     | FHMS K097 X3 5.64                                               | CUSIP: FHMSRRX12<br>LEI: N/A                  | Short            | RA               |  | US        |    -19000 | PA      | $-19000.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                     | FREMF 2024-K515 C 6.59                                          | CUSIP: FREM4RR12<br>LEI: N/A                  | Short            | RA               |  | US        |  -1247000 | PA      | $-1247000.00  | -3.59%            |  |  |  | No            |                  2 | On Loan: No      |
| FREMF MORTGAGE TRUST                    | FREMF 2024-K515 MORTGAGE TRUST FREMF 2024-K515 C                | CUSIP: 356921AG1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   2000000 | PA      | $1748540.00   | 5.03%             | 2029-01-25      | Floating      | 5.90%                 | Yes           |                  2 | On Loan: No      |
| N/A                                     | NRES GERONIMO, LLC                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    600000 | PA      | $576697.20    | 1.66%             | N/A             | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| N/A                                     | IQHQ INC PRIVATE COMPANY                                        | CUSIP: 44988Q106<br>LEI: N/A                  | Long             | EC               |  | US        |    160205 | NS      | $2446330.35   | 7.04%             |  |  |  | No            |                  3 | On Loan: No      |
| Freddie Mac                             | FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CE FHMS K097 X3 | CUSIP: 3137FNX88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |    336832 | PA      | $26720.31     | 0.08%             | 2046-09-25      | Floating      | 2.02%                 | No            |                  2 | On Loan: No      |
| FREMF MORTGAGE TRUST                    | FREMF 2024-K520 MORTGAGE TRUST FREMF 2024-K520 C                | CUSIP: 30336DAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1680560 | PA      | $1477548.35   | 4.25%             | 2029-03-25      | Floating      | 5.59%                 | Yes           |                  2 | On Loan: No      |
| Nexpoint Real Estate Finance Inc        | NEXPOINT REAL ESTATE FINANCE REIT                               | CUSIP: 65342V101<br>LEI: N/A                  | Long             | EC               |  | US        |    281817 | NS      | $4421714.06   | 12.73%            |  |  |  | No            |                  1 | On Loan: No      |
| ELME COMMUNITIES                        | ELME COMMUNITIES REIT                                           | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               |  | US        |      4320 | NS      | $65966.40     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR REAL ESTATE FINANCE TRUST INC.      | KKR Real Estate Finance Trust Inc PREFERRED STOCK               | CUSIP: 48251K209<br>LEI: 549300K23AYZDZ2REL62 | Long             | EP               |  | US        |     40000 | NS      | $768400.00    | 2.21%             |  |  |  | No            |                  2 | On Loan: No      |
| SAFEHOLD INC.                           | SAFEHOLD INC REIT                                               | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |     37256 | NS      | $688490.88    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST, INC.              | DIGITAL REALTY TRUST INC REIT                                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |      1800 | NS      | $319194.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| RYMAN HOSPITALITY PROPERTIES, INC.      | RYMAN HOSPITALITY PROPERTIES REIT                               | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Short            | EC               |  | US        |     -6900 | NS      | $-719946.00   | -2.07%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                     | GROUND LEASE REIT (GLR)                                         | CUSIP: 39949R102<br>LEI: N/A                  | Long             | EC               |  | US        |     90000 | NS      | $1774810.62   | 5.11%             |  |  |  | No            |                  3 | On Loan: No      |
| CIFC FUNDING LTD                        | CIFC 2014-4RA SUB - Cifc Funding 2014-IV-R Ltd 10/17/2030       | CUSIP: 12549WAE2<br>LEI: N/A                  | Long             | ABS-MBS          |  | KY        |    300000 | PA      | $72000.00     | 0.21%             | 2030-10-17      | Floating      | 13.37%                | No            |                  2 | On Loan: No      |
| WAYPOINT RESIDENTIAL, LLC               | WAYPOINT RESIDENTIAL LLC 144A 13.000000% 12/15/2026             | CUSIP: 94677MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $756395.18    | 2.18%             | 2026-12-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| N/A                                     | NEXPOINT STORAGE PARTNERS SERIES A PREFERRED STOCK              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |      1280 | NS      | $1088613.77   | 3.13%             |  |  |  | No            |                  3 | On Loan: No      |
| SL GREEN REALTY CORP.                   | SL GREEN REALTY CORP REIT                                       | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Short            | EC               |  | US        |    -48500 | NS      | $-3294120.00  | -9.48%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                     | NRES STORAGE PARTNERS OPERATING CO., LLC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1998024.00   | 5.75%             | 2025-09-08      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| N/A                                     | IQHQ WARRANTS 05/23/2034                                        | CUSIP: 003CVR016<br>LEI: N/A                  | Long             | EC               |  | US        |    130149 | NS      | $260297.02    | 0.75%             |  |  |  | No            |                  3 | On Loan: No      |
| CIFC FUNDING LTD                        | CIFC 2015-1A SUB - CIFC Funding 2015-I Ltd 01/22/2031           | CUSIP: 12548NAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | KY        |    250000 | PA      | $18750.00     | 0.05%             | 2031-01-22      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                     | FREMF 2020-KF74 C 6.59                                          | CUSIP: FREMFRR56<br>LEI: N/A                  | Short            | RA               |  | US        |   -367000 | PA      | $-367000.00   | -1.06%            |  |  |  | No            |                  2 | On Loan: No      |
| FREMF MORTGAGE TRUST                    | FREMF 2020-KF74 MORTGAGE TRUST FREMF 2020-KF74 C                | CUSIP: 30313MAC4<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    541934 | PA      | $522860.10    | 1.51%             | 2027-01-25      | Floating      | 11.03%                | No            |                  2 | On Loan: No      |
| N/A                                     | NRES REIT SUB II COMMON STOCK                                   | CUSIP: 98919V105<br>LEI: N/A                  | Long             | EC               |  | US        |       235 | NS      | $2222460.31   | 6.40%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                     | NRES CMP HOLDCO COMMON STOCK                                    | CUSIP: 98919V105<br>LEI: N/A                  | Long             | EC               |  | US        |     60377 | NS      | $1466419.79   | 4.22%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2024-12-31

**Name of Applicant:** NEXPOINT REAL ESTATE STRATEGIES FUND

**Signature:** Stephanie Vitiello

**Name of Signer:** Stephanie Vitiello

**Title:** CCO