# EDGAR Filing Document

**Accession Number:** 0001663712
**File Stem:** 0001752724-23-049893
**Filing Date:** 2023-3
**Character Count:** 19687
**Document Hash:** db247442772f563fc005ab743ce2936e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049893.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049893

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEXPOINT REAL ESTATE STRATEGIES FUND
- **CENTRAL INDEX KEY:** 0001663712
- **IRS NUMBER:** 811061590
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23129
- **FILM NUMBER:** 23691808

**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:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $45340015.52

**Total Liabilities:** $4914215.06

**Net Assets:** $40425800.46

**Cash Not Reported:** $990706.24

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -5.75870528 | **1-Year:** -109.10498666 | **5-Year:** -702.51903581 | **10-Year:** -2199.88777368 | **30-Year:** -1304.89055920

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -32.17544990 | **1-Year:** -722.06851883 | **5-Year:** -1819.04472889 | **10-Year:** -193.63429166 | **30-Year:** -0.00553380

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -8.24%               | -4.69%               | -3.16%               |
| Class ID N/A | -3.74%               | 0.08%                | 1.72%                |
| Class ID N/A | -2.69%               | 1.16%                | 2.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $348527.58               | $-1627439.96                               |
| Month 2  | $10971.70                | $404125.72                                 |
| Month 3  | $293138.37               | $673189.23                                 |

### 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      | $100000.00    | 0.25%             | N/A             | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                                | AMSR 2021-SFR1 F 5.68                                                | CUSIP: AMSRDAG06<br>LEI: N/A                  | Short            | RA               |  | US        |   -416000 | PA      | $-416000.00   | -1.03%            |  |  |  | No            |                  2 | On Loan: No      |
| NEXPOINT RESIDENTIAL TRUST, INC.                                   | NEXPOINT RESIDENTIAL REIT                                            | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               |  | US        |     28322 | NS      | $1232573.44   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                | FHMS K097 X3  5.33                                                   | CUSIP: FREMRR059<br>LEI: N/A                  | Short            | RA               |  | US        |    -23000 | PA      | $-23000.00    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                | NRESF REIT SUB, LLC Common Stock                                     | CUSIP: 98919V105<br>LEI: N/A                  | Long             | EC               |  | US        | 146785142 | NS      | $5718895.91   | 14.15%            |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                                                | FREMF 21K-F103 CS 5.88                                               | CUSIP: FREMFRR05<br>LEI: N/A                  | Short            | RA               |  | US        |  -1073000 | PA      | $-1073000.00  | -2.65%            |  |  |  | No            |                  2 | On Loan: No      |
| iShares US Real Estate ETF                                         | ISHARES US REAL ESTATE ETF MUTUAL FUND                               | CUSIP: 464287739<br>LEI: N/A                  | Short            | EC               | RF                | US        |    -10715 | NS      | $-902095.85   | -2.23%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST             | J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES T JPMCC 2022-NXSS E | CUSIP: 465979AN2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1300000 | PA      | $1284530.00   | 3.18%             | 2039-08-15      | Floating      | 10.11%                | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                                        | FREDDIE MAC MULTIFAMILY STRUCTURED CREDIT RISK MSCR 2021-MN3 B1      | CUSIP: 35563GAC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGA              | US        |   1500000 | PA      | $1297500.00   | 3.21%             | 2051-11-25      | Floating      | 10.37%                | Yes           |                  2 | On Loan: No      |
| N/A                                                                | PROG 2020-SFR3 H  5.68                                               | CUSIP: N/A<br>LEI: N/A                        | Short            | RA               |  | US        |   -265000 | PA      | $-265000.00   | -0.66%            |  |  |  | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management; Institutional Shares | DREYFUS TREASURY PRIME CASH MANAGEMENT/ CLASS A                      | CUSIP: 261908107<br>LEI: N/A                  | Long             | STIV             |  | US        |   5770293 | PA      | $5770292.55   | 14.27%            |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST             | J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES T JPMCC 2022-NXSS F | CUSIP: 465979AQ5<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    700000 | PA      | $691740.00    | 1.71%             | 2039-08-15      | Floating      | 10.71%                | Yes           |                  2 | On Loan: No      |
| N/A                                                                | AMSR 2020-SFR4 G2  5.63                                              | CUSIP: AMSRSFR09<br>LEI: N/A                  | Short            | RA               |  | US        |   -306000 | PA      | $-306000.00   | -0.76%            |  |  |  | No            |                  2 | 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        |    250000 | PA      | $48750.00     | 0.12%             | 2031-10-17      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| AMSR TRUST                                                         | AMSR 2021-SFR1 TRUST AMSR 2021-SFR1 F                                | CUSIP: 00179DAG1<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1057000 | PA      | $832387.50    | 2.06%             | 2038-06-17      | Floating      | 3.60%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                | UNITED DEVELOPMENT FUNDING I REIT                                    | CUSIP: 910187103<br>LEI: N/A                  | Long             | EC               |  | US        |     55029 | NS      | $51176.97     | 0.13%             |  |  |  | No            |                  3 | On Loan: No      |
| AFC GAMMA, INC.                                                    | AFC GAMMA INC REIT                                                   | CUSIP: 00109K105<br>LEI: 5493005G0MGS3E0E7218 | Long             | EC               |  | US        |     32859 | NS      | $516872.07    | 1.28%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                                                | STAR 2021-SFR1 G  5.63                                               | CUSIP: STARSFR09<br>LEI: N/A                  | Short            | RA               |  | US        |   -314000 | PA      | $-314000.00   | -0.78%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                | AMSR 2021-SFR1 F 6.23                                                | CUSIP: MSCRRR004<br>LEI: N/A                  | Short            | RA               |  | US        |   -668000 | PA      | $-668000.00   | -1.65%            |  |  |  | No            |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL MASTER TRUST                                  | PROGRESS RESIDENTIAL 2020-SFR3 TRUST PROG 2020-SFR3 H                | CUSIP: 74333AAQ3<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    575000 | PA      | $533312.50    | 1.32%             | 2027-10-17      | Fixed         | 6.23%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                | IQHQ INC PRIVATE COMPANY                                             | CUSIP: 44988Q106<br>LEI: N/A                  | Long             | EC               |  | US        |    160205 | NS      | $4485740.00   | 11.10%            |  |  |  | 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      | $34642.16     | 0.09%             | 2046-09-25      | Floating      | 2.02%                 | No            |                  2 | On Loan: No      |
| STAR TRUST                                                         | STAR 2021-SFR1 TRUST STAR 2021-SFR1 G                                | CUSIP: 85521DAN2<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    526000 | PA      | $483920.00    | 1.20%             | 2038-04-17      | Floating      | 7.54%                 | Yes           |                  2 | On Loan: No      |
| MID-AMERICA APARTMENTS, L.P.                                       | MID-AMERICA APARTMENTS LP 2.875000% 09/15/2051                       | CUSIP: 59523UAU1<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1101297.33   | 2.72%             | 2051-09-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MFA FINANCIAL, INC.                                                | MFA FINANCIAL INC REIT                                               | CUSIP: 55272X607<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EC               |  | US        |     22500 | NS      | $221625.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexpoint Real Estate Finance Inc                                   | NEXPOINT REAL ESTATE FINANCE REIT                                    | CUSIP: 65342V101<br>LEI: N/A                  | Long             | EC               |  | US        |    281817 | NS      | $4478077.53   | 11.08%            |  |  |  | No            |                  1 | On Loan: No      |
| AMSR TRUST                                                         | AMSR 2020-SFR4 TRUST AMSR 2020-SFR4 G2                               | CUSIP: 66981FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |    526000 | PA      | $468140.00    | 1.16%             | 2037-11-17      | Fixed         | 4.87%                 | Yes           |                  2 | On Loan: No      |
| ELME COMMUNITIES                                                   | ELME COMMUNITIES REIT                                                | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               |  | US        |    124320 | NS      | $2212896.00   | 5.47%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                | GROUND LEASE REIT (GLR)                                              | CUSIP: 39949R102<br>LEI: N/A                  | Long             | EC               |  | US        |     90000 | NS      | $1800000.00   | 4.45%             |  |  |  | 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      | $67500.00     | 0.17%             | 2030-10-17      | Floating      | 1.14%                 | No            |                  2 | On Loan: No      |
| WAYPOINT RESIDENTIAL, LLC                                          | WAYPOINT RESIDENTIAL LLC 144A 12.500000% 12/15/2026                  | CUSIP: 94677MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980400.00    | 2.43%             | 2026-12-15      | Fixed         | 12.50%                | 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      | $1700349.32   | 4.21%             |  |  |  | No            |                  3 | On Loan: No      |
| FREMF MORTGAGE TRUST                                               | FREMF 2021-KF112 MORTGAGE TRUST FREMF 21K-F103 CS                    | CUSIP: 30319FAE9<br>LEI: N/A                  | Long             | ABS-MBS          |  | US        |   1789028 | PA      | $1789028.25   | 4.43%             | 2031-01-25      | Floating      | 9.98%                 | Yes           |                  2 | 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      | $53125.00     | 0.13%             | 2031-01-22      | Floating      | 0.00%                 | 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        |    768575 | PA      | $749360.61    | 1.85%             | 2027-01-25      | Floating      | 10.39%                | No            |                  2 | On Loan: No      |
| UDR, INC.                                                          | UDR INC MTN 2.100000% 08/01/2032                                     | CUSIP: 90265EAT7<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1202947.67   | 2.98%             | 2032-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Bluerock Homes Trust Inc                                           | BLUEROCK HOMES TRUST INC COMMON STOCK                                | CUSIP: 09631H100<br>LEI: N/A                  | Long             | EC               |  | US        |      3506 | NS      | $74712.86     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                                | FREMF 2020-KF74 C  5.98                                              | CUSIP: FREMFRR33<br>LEI: N/A                  | Short            | RA               |  | US        |   -901000 | PA      | $-901000.00   | -2.23%            |  |  |  | No            |                  2 | On Loan: No      |
| SAFEHOLD INC.                                                      | SAFEHOLD INC REIT                                                    | CUSIP: 78645L100<br>LEI: 549300MHMP6BIE0XV355 | Long             | EC               |  | US        |     37256 | NS      | $1066266.72   | 2.64%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                                                | NRES REIT SUB II COMMON STOCK                                        | CUSIP: 98919V105<br>LEI: N/A                  | Long             | EC               |  | US        |       165 | NS      | $2341586.81   | 5.79%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

**Name of Applicant:** NEXPOINT

**Signature:** Stephanie Vitiello

**Name of Signer:** Stephanie Vitiello

**Title:** CCO