# EDGAR Filing Document

**Accession Number:** 0001663712
**File Stem:** 0001752724-25-212278
**Filing Date:** 2025-8
**Character Count:** 17281
**Document Hash:** 8ef3c96e4140e66fa9628dbaf912901b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212278.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212278

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20251231

**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
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23129
- **FILM NUMBER:** 251276839

**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:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $36020852.61

**Total Liabilities:** $6924796.47

**Net Assets:** $29096056.14

**Cash Not Reported:** $4022028.00

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -6.63%               | -7.63%               | -9.53%               |
| Class ID N/A | -2.00%               | -3.00%               | -5.02%               |
| Class ID N/A | -1.00%               | -1.94%               | -3.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-29973.50               | $-448146.76                                |
| Month 2  | $-63381.80               | $-521323.37                                |
| Month 3  | $-469113.52              | $-741579.85                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 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      | $66000.00     | 0.23%             | 2030-10-17      | Floating      | 13.37%                | 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        |    291000 | PA      | $103596.00    | 0.36%             | 2031-10-17      | Floating      | 0.00%                 | No            |                  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      | $7500.00      | 0.03%             | 2031-01-22      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| CITADEL SECURITIES LLC                  | CITADEL SECURITIES LLC SLRPA 4.470% 07/01/2025                  | CUSIP: N/A<br>LEI: N/A                        | Long             | RA               |  | US        |         2 | PA      | $2.00         | 0.00%             | 2025-07-01      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST, INC.              | DIGITAL REALTY TRUST INC REIT                                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |      1800 | NS      | $313794.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                     | DREAM REIT SUB COMMON STOCK                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |     75000 | NS      | $1306500.00   | 4.49%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                     | DREYFUS TREASURY PRIME CASH MANAGEMENT/ CLASS A                 | CUSIP: 261908107<br>LEI: N/A                  | Long             | STIV             |  | US        |    658420 | PA      | $658420.03    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ELME COMMUNITIES                        | ELME COMMUNITIES REIT                                           | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               |  | US        |      4320 | NS      | $68688.00     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                     | FHMS K097 X3 5.38                                               | CUSIP: FHMSRRX19<br>LEI: N/A                  | Short            | RA               |  | US        |    -19000 | PA      | $-19000.00    | -0.07%            |  |  |  | No            |                  2 | 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      | $24307.62     | 0.08%             | 2046-09-25      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| N/A                                     | FREMF 2020-KF74 C 6.18                                          | CUSIP: FREMFRR63<br>LEI: N/A                  | Short            | RA               |  | US        |   -395000 | PA      | $-395000.00   | -1.36%            |  |  |  | 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      | $538885.24    | 1.85%             | 2027-01-25      | Floating      | 10.68%                | No            |                  2 | On Loan: No      |
| N/A                                     | FREMF 2024-K515 C 6.18                                          | CUSIP: FREM4RR19<br>LEI: N/A                  | Short            | RA               |  | US        |  -1346000 | PA      | $-1346000.00  | -4.63%            |  |  |  | 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      | $1773300.00   | 6.09%             | 2029-01-25      | Floating      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| N/A                                     | FREMF 2024-K520 C 6.18                                          | CUSIP: FREM5RR16<br>LEI: N/A                  | Short            | RA               |  | US        |  -1119000 | PA      | $-1119000.00  | -3.85%            |  |  |  | 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      | $1516201.23   | 5.21%             | 2029-03-25      | Floating      | 5.78%                 | Yes           |                  2 | 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        |  13366798 | PA      | $487317.35    | 1.67%             | 2030-05-25      | Floating      | 1.09%                 | No            |                  2 | On Loan: No      |
| N/A                                     | FRESB 2020-SB76 X1 5.38                                         | CUSIP: FRESBRR14<br>LEI: N/A                  | Short            | RA               |  | US        |   -348000 | PA      | $-348000.00   | -1.20%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                     | GROUND LEASE REIT (GLR)                                         | CUSIP: 39949R102<br>LEI: N/A                  | Long             | EC               |  | US        |     90000 | NS      | $1722600.00   | 5.92%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                     | IQHQ INC PRIVATE COMPANY                                        | CUSIP: 44988Q106<br>LEI: N/A                  | Long             | EC               |  | US        |    160205 | NS      | $1614866.40   | 5.55%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                     | IQHQ REVOLVING CREDIT NOTE                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1495290 | PA      | $1495290.36   | 5.14%             | 2049-12-31      | Floating      | 13.50%                | 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      | $2106000.00   | 7.24%             | 2049-12-31      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| N/A                                     | IQHQ SERIES E-1 PREF PREFERRED STOCK                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |       112 | PA      | $112000.00    | 0.38%             | 2049-12-31      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| N/A                                     | IQHQ WARRANTS 05/23/2034                                        | CUSIP: 003CVR016<br>LEI: N/A                  | Long             | EC               |  | US        |    130149 | NS      | $288929.69    | 0.99%             |  |  |  | No            |                  3 | On Loan: No      |
| IRON MOUNTAIN INCORPORATED              | IRON MOUNTAIN INC REIT                                          | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |      3800 | NS      | $389766.00    | 1.34%             |  |  |  | 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      | $266418.00    | 0.92%             |  |  |  | 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      | $3886261.12   | 13.36%            |  |  |  | No            |                  1 | On Loan: No      |
| NEXPOINT RESIDENTIAL TRUST, INC.        | NEXPOINT RESIDENTIAL REIT                                       | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               |  | US        |     28322 | NS      | $943689.04    | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                     | NEXPOINT STORAGE PARTNERS SERIES A PREFERRED STOCK              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |      1280 | NS      | $893573.78    | 3.07%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                     | NRES GERONIMO, LLC                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    688095 | PA      | $667127.37    | 2.29%             | N/A             | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| N/A                                     | NRES REIT SUB II COMMON STOCK                                   | CUSIP: 98919V105<br>LEI: N/A                  | Long             | EC               |  | US        |       235 | NS      | $2113999.85   | 7.27%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                     | NRES STORAGE PARTNERS OPERATING CO., LLC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1959600.00   | 6.73%             | 2025-09-08      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| N/A                                     | NRESF REIT SUB, LLC Common Stock                                | CUSIP: 98919V105<br>LEI: N/A                  | Long             | EC               |  | US        | 150193009 | NS      | $5021252.67   | 17.26%            |  |  |  | No            |                  3 | On Loan: No      |
| READY CAPITAL CORPORATION               | READY CAPITAL CORP REIT                                         | CUSIP: 75574U101<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EC               |  | US        |     22892 | NS      | $100038.04    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| RYMAN HOSPITALITY PROPERTIES, INC.      | RYMAN HOSPITALITY PROPERTIES REIT                               | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Short            | EC               |  | US        |     -6900 | NS      | $-680823.00   | -2.34%            |  |  |  | No            |                  1 | On Loan: No      |
| SAFEHOLD INC.                           | SAFEHOLD INC REIT                                               | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |     37256 | NS      | $579703.36    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SL GREEN REALTY CORP.                   | SL GREEN REALTY CORP REIT                                       | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Short            | EC               |  | US        |    -48500 | NS      | $-3002150.00  | -10.32%           |  |  |  | No            |                  1 | On Loan: No      |
| UNITED DEVELOPMENT FUNDING - CVR        | UNITED DEVELOPMENT FUNDING - CVR CONTINGENT VALUE RIGHT         | CUSIP: 910187103<br>LEI: N/A                  | Long             | EC               |  | US        |     22892 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

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

**Signature:** Stephanie Vitiello

**Name of Signer:** Stephanie Vitiello

**Title:** CCO