# EDGAR Filing Document

**Accession Number:** 0001663712
**File Stem:** 0002048251-26-001890
**Filing Date:** 2026-3
**Character Count:** 14461
**Document Hash:** ddc4a08d53d21d442450ead8b9457303
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-001890.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0002048251-26-001890

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**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:** 26709353

**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:** 2025-12-31

**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:** $29728710.41

**Total Liabilities:** $3169086.84

**Net Assets:** $26559623.57

**Cash Not Reported:** $4062812.25

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -1.70%               | -4.03%               | -6.36%               |
| Class ID N/A | 3.24%                | 0.75%                | -1.70%               |
| Class ID N/A | 4.34%                | 1.82%                | -0.63%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-8610.47                | $933294.33                                 |
| Month 2  | $0.00                    | $462183.20                                 |
| Month 3  | $0.00                    | $-177009.84                                |

**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      | $63690.00     | 0.24%             | 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      | $88755.00     | 0.33%             | 2031-10-17      | Floating      | 0.00%                 | No            | 2                  | On Loan: No      |
| CIFC FUNDING LTD                        | CIFC 2015-1A SUB - CIFC Funding 2015-I Ltd 1/22/2031            | CUSIP: 12548NAG8<br>LEI: N/A                  | Long             | ABS-MBS          |  | KY        |    250000 | PA      | $125.00       | 0.00%             | 2031-01-22      | Floating      | 0.00%                 | No            | 2                  | On Loan: No      |
| CITADEL SECURITIES LLC                  | CITADEL SECURITIES LLC SLRPA 3.940% 01/02/2026                  | CUSIP: N/A<br>LEI: N/A                        | Long             | RA               |  | US        |         2 | PA      | $2.00         | 0.00%             | 2026-01-02      | Fixed         | 3.94%                 | No            | 2                  | On Loan: No      |
| N/A                                     | DREAM REIT SUB COMMON STOCK                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |     75000 | NS      | $1306500.00   | 4.92%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                     | DREYFUS TREASURY PRIME CASH MANAGEMENT/ CLASS A                 | CUSIP: 261908107<br>LEI: N/A                  | Long             | STIV             |  | US        |    554692 | PA      | $554692.21    | 2.09%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                     | FHMS K097 X3 1/7/2026                                           | CUSIP: FHMSRRX25<br>LEI: N/A                  | Short            | RA               |  | US        |    -17000 | PA      | $-17000.00    | -0.06%            |  |  |  | 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      | $22025.14     | 0.08%             | 2046-09-25      | Floating      | 2.02%                 | No            | 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        |  12655607 | PA      | $501220.27    | 1.89%             | 2030-05-25      | Floating      | 0.00%                 | No            | 2                  | On Loan: No      |
| N/A                                     | FRESB 2020-SB76 X1 4.83                                         | CUSIP: FRESBRR20<br>LEI: N/A                  | Short            | RA               |  | US        |   -288000 | PA      | $-288000.00   | -1.08%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                     | GROUND LEASE REIT (GLR)                                         | CUSIP: 39949R102<br>LEI: N/A                  | Long             | EC               |  | US        |     80000 | NS      | $1466400.00   | 5.52%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                     | IQHQ INC PRIVATE COMPANY                                        | CUSIP: 44988Q106<br>LEI: N/A                  | Long             | EC               |  | US        |    160205 | NS      | $937199.25    | 3.53%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A                                     | IQHQ REVOLVING CREDIT NOTE                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1546171 | PA      | $1527230.60   | 5.75%             | 2049-12-31      | Floating      | 13.50%                | No            | N/A                | 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      | $2079464.40   | 7.83%             | 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        |    112000 | PA      | $112011.20    | 0.42%             | 2049-12-31      | Fixed         | 16.50%                | No            | 3                  | On Loan: No      |
| N/A                                     | IQHQ WARRANTS 05/23/2034                                        | CUSIP: 003CVR016<br>LEI: N/A                  | Long             | EC               |  | US        |    251707 | NS      | $1472485.95   | 5.54%             |  |  |  | No            | 3                  | On Loan: No      |
| MID-AMERICA APARTMENT COMMUNITIES, INC. | MID-AMERICA APARTMENT COMM REIT                                 | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               |  | US        |       550 | NS      | $76400.50     | 0.29%             |  |  |  | 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      | $3967988.15   | 14.94%            |  |  |  | No            | 1                  | On Loan: No      |
| NEXPOINT RESIDENTIAL TRUST, INC.        | NEXPOINT RESIDENTIAL REIT                                       | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               |  | US        |     28322 | NS      | $852492.20    | 3.21%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                     | NEXPOINT STORAGE PARTNERS OPERATING COMPANY, LLC COMMON STOCK   | CUSIP: NPALP0527<br>LEI: N/A                  | Long             | EC               |  | US        |        41 | NS      | $25389.25     | 0.10%             |  |  |  | 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      | $793538.17    | 2.99%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                     | NRES CMP HOLDCO COMMON STOCK                                    | CUSIP: 98919V105<br>LEI: N/A                  | Long             | EC               |  | US        |      1000 | NS      | $173820.00    | 0.65%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                     | NRES GERONIMO, LLC                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    364603 | PA      | $355389.70    | 1.34%             | 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      | $1815091.17   | 6.83%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                     | NRES STORAGE PARTNERS OPERATING CO., LLC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1377880.00   | 5.19%             | 2026-10-01      | 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        | 154944094 | NS      | $4726724.53   | 17.80%            |  |  |  | No            | 3                  | On Loan: No      |
| RYMAN HOSPITALITY PROPERTIES, INC.      | RYMAN HOSPITALITY PROPERTIES REIT                               | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Short            | EC               |  | US        |     -6900 | NS      | $-652878.00   | -2.46%            |  |  |  | No            | 1                  | On Loan: No      |
| SAFEHOLD INC.                           | SAFEHOLD INC REIT                                               | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |     37256 | NS      | $510034.64    | 1.92%             |  |  |  | No            | 1                  | On Loan: No      |
| SL GREEN REALTY CORP.                   | SL GREEN REALTY CORP REIT                                       | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Short            | EC               |  | US        |    -48500 | NS      | $-2224695.00  | -8.38%            |  |  |  | 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            | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

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

**Signature:** Stephanie Vitiello

**Name of Signer:** Stephanie Vitiello

**Title:** CCO