Agree Realty Corporation

NPORT-P false 0002013853 XXXXXXXX S000087630 C000253489 C000253490 C000253492 New Age Alpha Funds Trust 811-23945 0002013853 529900860B9CQ8SDNS27 555 Theodore Fremd Avenue Suite A-101 Rye 10580 212-922-2699 NAA RISK MANAGED REAL ESTATE FUND S000087630 529900JOIA0Y5B3KRG74 2026-09-30 2026-03-31 N 252974011.03 72762993.28 180211017.75 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0 N NAA Risk Managed RE Fd DRP NAA RISK MANAGED RE FD DRP Agree Realty Corp 98450090H010B37OEB68 Agree Realty Corporation 008492100 20351.00000000 NS USD 1534058.38000000 0.851256709580 Long EC CORP US N 1 N N N Alexandria Real Estate Equities, Inc. MGCJBT4MKTQBVLNUIS88 Alexandria Real Estate Equities, Inc. REIT 015271109 28257.00000000 NS USD 1311689.94000000 0.727863343971 Long EC CORP US N 1 N N N American Homes 4 Rent 549300ZJUO7A58PNUW40 American Homes 4 Rent Class A 02665T306 59302.00000000 NS USD 1655711.84000000 0.918762826308 Long EC CORP US N 1 N N N Americold Realty Trust Inc 894500O3S3W62PQPO460 Americold Realty Trust, Inc. 03064D108 -29037.00000000 NS USD -332764.02000000 -0.18465242811 Short EC CORP US N 1 N N N AvalonBay Communities, Inc. K9G90K85RBWD2LAGQX17 AvalonBay Communities, Inc. REIT 053484101 -6118.00000000 NS USD -999375.30000000 -0.55455837965 Short EC CORP US N 1 N N N BXP Inc 549300OF70FSEUQBT254 BXP, Inc. REIT 101121101 26009.00000000 NS USD 1349867.10000000 0.749048042041 Long EC CORP US N 1 N N N Brixmor Property Group Inc 5299007UXW6Y0W2EGZ95 Brixmor Property Group, Inc. 11120U105 -38297.00000000 NS USD -1102953.60000000 -0.61203449920 Short EC CORP US N 1 N N N Broadstone Net Lease Inc 549300U8D7PT70B49V21 Broadstone Net Lease, Inc. 11135E203 -97351.00000000 NS USD -1778602.77000000 -0.98695562136 Short EC CORP US N 1 N N N CBRE Group Inc. 52990016II9MJ2OSWA10 CBRE Group, Inc. 12504L109 -13919.00000000 NS USD -1885467.74000000 -1.04625553062 Short EC CORP US N 1 N N N Camden Property Trust 5493002MYX22OHYJBD89 Camden Property Trust REIT 133131102 19588.00000000 NS USD 1912964.08000000 1.061513387962 Long EC CORP US N 1 N N N Caretrust Reit Inc 5493001NVXE2B9GPLU96 CareTrust REIT, Inc. REIT 14174T107 39776.00000000 NS USD 1457790.40000000 0.808935223939 Long EC CORP US N 1 N N N Sila Realty Trust Inc 549300HXH142HWKKSW59 Sila Realty Trust, Inc. 146280508 -8517.00000000 NS USD -201682.56000000 -0.11191466677 Short EC CORP US N 1 N N N Centerspace 5493002LG2SH9EEHT720 Centerspace REIT 15202L107 -3207.00000000 NS USD -184242.15000000 -0.10223689555 Short EC CORP US N 1 N N N COPT Defense Properties YY1J47X6LF9TYY8JY420 COPT Defense Properties REIT 22002T108 20422.00000000 NS USD 624913.20000000 0.346767477262 Long EC CORP US N 1 N N N Cousins Properties Inc. 5493007XPYD5EJABN062 Cousins Properties, Inc. REIT 222795502 -81781.00000000 NS USD -1845797.17000000 -1.02424213183 Short EC CORP US N 1 N N N CTO Realty Growth Inc New 254900ZQ99OFO1WXS678 CTO Realty Growth, Inc. 22948Q101 -370.00000000 NS USD -6841.30000000 -0.00379627177 Short EC CORP US N 1 N N N CubeSmart (Maryland) N/A CubeSmart REIT 229663109 41947.00000000 NS USD 1537357.55000000 0.853087435604 Long EC CORP US N 1 N N N Curbline Properties Corp. 529900PGR41LH0I81I15 Curbline Properties Corporation 23128Q101 -72278.00000000 NS USD -1864049.62000000 -1.03437050812 Short EC CORP US N 1 N N N DiamondRock Hospitality Co. 529900KKD4BPVBUAQ734 DiamondRock Hospitality Company REIT 252784301 -102704.00000000 NS USD -962336.48000000 -0.53400535217 Short EC CORP US N 1 N N N Digital Realty Trust Inc. 549300HKCZ31D08NEI41 Digital Realty Trust, Inc. REIT 253868103 44884.00000000 NS USD 8088545.64000000 4.488374651554 Long EC CORP US N 1 N N N Diversified Healthcare Trust N/A Diversified Healthcare Trust 25525P107 -17907.00000000 NS USD -118902.48000000 -0.06597958409 Short EC CORP US N 1 N N N EPR Properties 549300YSSXFHMPOWZ492 EPR Properties REIT 26884U109 15065.00000000 NS USD 752647.40000000 0.417647827195 Long EC CORP US N 1 N N N Easterly Government Properties Inc 549300ERMCEFC6S8HL77 Easterly Government Properties, Inc. 27616P301 -8809.00000000 NS USD -188776.87000000 -0.10475323448 Short EC CORP US N 1 N N N Eastgroup Properties, Inc. 31TIGQQZC4P6JMHKSW85 EastGroup Properties, Inc. 277276101 9498.00000000 NS USD 1757984.82000000 0.975514617224 Long EC CORP US N 1 N N N Equinix, Inc. 549300EVUN2BTLJ3GT74 Equinix, Inc. REIT 29444U700 12573.00000000 NS USD 12324557.52000000 6.838958945949 Long EC CORP US N 1 N N N Equity Lifestyle Properties Inc 529900PEQG66LENB6798 Equity LifeStyle Properties, Inc. REIT 29472R108 34239.00000000 NS USD 2137198.38000000 1.185942128668 Long EC CORP US N 1 N N N Equity Residential 5493008RACSH5EP3PI59 Equity Residential REIT 29476L107 61463.00000000 NS USD 3635536.45000000 2.017377458598 Long EC CORP US N 1 N N N Essential Properties Realty Trust Inc. 2549009LXQLVYCGLZO50 Essential Properties Realty Trust, Inc. REIT 29670E107 36254.00000000 NS USD 1100671.44000000 0.610768117145 Long EC CORP US N 1 N N N Essex Property Trust, Inc. 549300TR2H2VEFX0NC60 Essex Property Trust, Inc. REIT 297178105 11220.00000000 NS USD 2715240.00000000 1.506700330479 Long EC CORP US N 1 N N N Extra Space Storage Inc. 529900SDJHKRQWED6A16 Extra Space Storage, Inc. REIT 30225T102 39096.00000000 NS USD 5126658.48000000 2.844808571644 Long EC CORP US N 1 N N N Federal Realty Investment Trust 549300FHEI1SLVZ0RB48 Federal Realty Investment Trust REIT 313745101 -17596.00000000 NS USD -1868871.16000000 -1.03704600491 Short EC CORP US N 1 N N N First Industrial Realty Trust, Inc. N/A First Industrial Realty Trust, Inc. REIT 32054K103 -32091.00000000 NS USD -1856464.35000000 -1.03016140365 Short EC CORP US N 1 N N N Gaming and Leisure Properties Inc 5493006GWRDBCZYWTM57 Gaming and Leisure Properties, Inc. REIT 36467J108 50317.00000000 NS USD 2232565.29000000 1.238861706611 Long EC CORP US N 1 N N N Global Net Lease Inc 549300NUYANCT5SU8Z65 Global Net Lease, Inc. 379378201 -64682.00000000 NS USD -605423.52000000 -0.33595255581 Short EC CORP US N 1 N N N American Healthcare REIT Inc. 2549004GGE2APGNT6O92 American Healthcare REIT, Inc. 398182303 31726.00000000 NS USD 1496198.16000000 0.830247883109 Long EC CORP US N 1 N N N HRTI LLC 549300L0I14L7I0VLX84 Healthcare Realty Trust, Inc. REIT 42226K105 -106282.00000000 NS USD -1805731.18000000 -1.00200931249 Short EC CORP US N 1 N N N Healthpeak Properties Inc 254900M6MTMZM0I22L81 Healthpeak Properties, Inc. 42250P103 117407.00000000 NS USD 1928997.01000000 1.070410141446 Long EC CORP US N 1 N N N Highwoods Properties, Inc. ZIIGTYKL9T0X3HLTDX53 Highwoods Properties, Inc. REIT 431284108 -69896.00000000 NS USD -1496473.36000000 -0.83040059297 Short EC CORP US N 1 N N N Host Hotels & Resorts Inc N6EL63S0K3PB1YFTDI24 Host Hotels & Resorts, Inc. REIT 44107P104 111152.00000000 NS USD 2129672.32000000 1.181765880127 Long EC CORP US N 1 N N N Independence Realty Trust Inc 549300Z3L8NU44NQEB29 Independence Realty Trust, Inc. 45378A106 44951.00000000 NS USD 669320.39000000 0.371409250309 Long EC CORP US N 1 N N N Invitation Homes Inc. 984500FE452E665C9F85 Invitation Homes, Inc. 46187W107 100330.00000000 NS USD 2493200.50000000 1.383489495330 Long EC CORP US N 1 N N N Iron Mountain Inc. SQL3F6CKNNBM3SQGHX24 Iron Mountain, Inc. 46284V101 51352.00000000 NS USD 5245093.28000000 2.910528637753 Long EC CORP US N 1 N N N Kilroy Realty Corporation 549300CXXI18B214UN80 Kilroy Realty Corporation REIT 49427F108 20130.00000000 NS USD 567867.30000000 0.315112420477 Long EC CORP US N 1 N N N Kimco Realty Corporation 254900ARY41P4V1JL861 Kimco Realty Corporation REIT 49446R109 116643.00000000 NS USD 2620968.21000000 1.454388440131 Long EC CORP US N 1 N N N Kite Realty Group Trust N/A Kite Realty Group Trust REIT 49803T300 38645.00000000 NS USD 948734.75000000 0.526457683800 Long EC CORP US N 1 N N N LTC Properties Inc 549300NRZP8IJG2KY677 LTC Properties, Inc. REIT 502175102 -49461.00000000 NS USD -1837970.76000000 -1.01989921756 Short EC CORP US N 1 N N N Lamar Advertising Company 529900Y8WW4MKVPTB543 Lamar Advertising Company Class A 512816109 15940.00000000 NS USD 2018960.40000000 1.120331278968 Long EC CORP US N 1 N N N LXP Industrial Trust 549300S4MH2ICXDBFV43 LXP Industrial Trust 529043408 10915.00000000 NS USD 504927.90000000 0.280187030906 Long EC CORP US N 1 N N N The Macerich Company 529900PSWCB5KI0JYU46 Macerich Company (The) REIT 554382101 47435.00000000 NS USD 896521.50000000 0.497484288803 Long EC CORP US N 1 N N N Marcus & Millichap Inc 549300B2HE8ULXNB1N48 Marcus & Millichap, Inc. 566324109 -12270.00000000 NS USD -326259.30000000 -0.18104292627 Short EC CORP US N 1 N N N Mid-America Apartment Communities, Inc. 549300FQZKFR5YNSHZ21 Mid-America Apartment Communities, Inc. REIT 59522J103 21166.00000000 NS USD 2584791.92000000 1.434314034886 Long EC CORP US N 1 N N N Millrose Properties Inc. N/A Millrose Properties, Inc. 601137102 -65601.00000000 NS USD -1836828.00000000 -1.01926509429 Short EC CORP US N 1 N N N NNN REIT Inc 5493008JKH5SOTI0JS97 NNN REIT, Inc. REIT 637417106 33496.00000000 NS USD 1407836.88000000 0.781215764483 Long EC CORP US N 1 N N N Nexpoint Residential Trust Inc 549300U2J6XVYBF87166 NexPoint Residential Trust, Inc. 65341D102 17.00000000 NS USD 425.00000000 0.000235834637 Long EC CORP US N 1 N N N Omega Healthcare Investors, Inc. 549300OJ7ENK42CZ8E73 Omega Healthcare Investors, Inc. REIT 681936100 51251.00000000 NS USD 2245818.82000000 1.246216157058 Long EC CORP US N 1 N N N Phillips Edison & Co Inc 549300JPN4YHYPXTJQ85 Phillips Edison & Company, Inc. REIT 71844V201 23119.00000000 NS USD 865112.98000000 0.480055543107 Long EC CORP US N 1 N N N Prologis Inc. 529900DFH19P073LZ636 Prologis, Inc. REIT 74340W103 119829.00000000 NS USD 15838997.22000000 8.789139208998 Long EC CORP US N 1 N N N Public Storage 254900GLQZAD4N7N5Q19 Public Storage REIT 74460D109 28996.00000000 NS USD 7854436.48000000 4.358466301375 Long EC CORP US N 1 N N N The RMR Group Inc. 549300JP4L34E48UJM16 RMR Group, Inc. (The) Class A 74967R106 29780.00000000 NS USD 460696.60000000 0.255642860104 Long EC CORP US N 1 N N N Rayonier Inc HGV8VDVNL0W6SF2U9C50 Rayonier, Inc. REIT 754907103 -18847.00000000 NS USD -388625.14000000 -0.21565004451 Short EC CORP US N 1 N N N Realty Income Corporation 549300CUWDAUZSH43859 Realty Income Corporation REIT 756109104 130391.00000000 NS USD 7977321.38000000 4.426655750352 Long EC CORP US N 1 N N N Regency Centers Corp. 529900053A7X7FJ97S58 Regency Centers Corporation REIT 758849103 28868.00000000 NS USD 2184152.88000000 1.211997416844 Long EC CORP US N 1 N N N Rexford Industrial Realty Inc. 549300MSLO0DF0EMX355 Rexford Industrial Realty, Inc. 76169C100 42814.00000000 NS USD 1401302.22000000 0.777589648788 Long EC CORP US N 1 N N N Ryman Hospitality Properties Inc 529900GCCWW9SRMPJR11 Ryman Hospitality Properties, Inc. REIT 78377T107 11584.00000000 NS USD 1068855.68000000 0.593113391925 Long EC CORP US N 1 N N N SBA Communications Corp. 5299001HX8ZN8Y8QIT49 SBA Communications Corporation 78410G104 -4265.00000000 NS USD -734049.15000000 -0.40732756474 Short EC CORP US N 1 N N N Sabra Health Care REIT, Inc. 549300E3BC7GU7TAZ621 Sabra Health Care REIT, Inc. REIT 78573L106 44480.00000000 NS USD 855350.40000000 0.474638238371 Long EC CORP US N 1 N N N Simon Property Group Inc 529900GQL5X8H7AO3T64 Simon Property Group, Inc. REIT 828806109 42767.00000000 NS USD 7977328.51000000 4.426659706825 Long EC CORP US N 1 N N N SmartStop Self Storage REIT Inc 549300EC266625K12S42 Smartstop Self Storage REIT, Inc. 83192D402 -59390.00000000 NS USD -1798329.20000000 -0.99790191657 Short EC CORP US N 1 N N N STAG Industrial, Inc. 549300QWYX2W6FASVQ07 STAG Industrial, Inc. 85254J102 33963.00000000 NS USD 1224705.78000000 0.679595396158 Long EC CORP US N 1 N N N Sun Communities, Inc. 549300H5GEOJYN41ZG57 Sun Communities, Inc. REIT 866674104 20281.00000000 NS USD 2554594.76000000 1.417557478946 Long EC CORP US N 1 N N N Tanger Inc. UKEW8YSXE4Y581KYOL30 Tanger, Inc. REIT 875465106 21364.00000000 NS USD 725948.72000000 0.402832595400 Long EC CORP US N 1 N N N Terreno Realty Corporation N/A Terreno Realty Corporation 88146M101 18887.00000000 NS USD 1160039.54000000 0.643711774387 Long EC CORP US N 1 N N N UDR Inc P3CH2EG5X6Z1XWU1OO74 UDR, Inc. REIT 902653104 54469.00000000 NS USD 1839962.82000000 1.021004621677 Long EC CORP US N 1 N N N United States Treasury Bills 254900HROIFWPRGM1V77 U.S. Treasury Bill 0.000%, Due 10/1/2026 912797SA6 9000000.00000000 PA USD 8835833.79000000 4.903048603974 Long DBT UST US N 2 2026-10-01 None 0.00000000 N N N N N N Ventas Inc. ORQTRC074CWLT3DKHT41 Ventas, Inc. REIT 92276F100 80001.00000000 NS USD 6542481.78000000 3.630456040748 Long EC CORP US N 1 N N N Vici Properties Inc 254900RKH6RY9KCJQH63 VICI Properties, Inc. 925652109 192500.00000000 NS USD 5259100.00000000 2.918301037118 Long EC CORP US N 1 N N N Vornado Realty Trust N/A Vornado Realty Trust REIT 929042109 29595.00000000 NS USD 769174.05000000 0.426818548390 Long EC CORP US N 1 N N N W. P. Carey Inc 54930042CRNE713E3Q67 WP Carey, Inc. REIT 92936U109 39350.00000000 NS USD 2674226.00000000 1.483941455627 Long EC CORP US N 1 N N N Welltower Inc. 254900F33BIAR82QTA19 Welltower, Inc. REIT 95040Q104 89367.00000000 NS USD 17668749.57000000 9.804477989526 Long EC CORP US N 1 N N N Xenia Hotels & Resorts Inc 54930075IWIPHF5IQL62 Xenia Hotels & Resorts, Inc. 984017103 -74526.00000000 NS USD -1105220.58000000 -0.61329245780 Short EC CORP US N 1 N N N AMERICAN ASSETS TRUS N/A AMERICAN ASSETS TRUS - TRS N/A 21483.00000000 NS USD -68094.17999999 -0.03778580291 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 AMERICAN ASSETS TRUS AMERICAN ASSETS TRUS - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -442636.91000000 USD -68094.17999999 N N N AH REALTY TRUST INC N/A AH REALTY TRUST INC - TRS N/A 50621.00000000 NS USD -8541.00000000 -0.00473944385 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 AH REALTY TRUST INC AH REALTY TRUST INC - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -293743.53999999 USD -8541.00000000 N N N AMERICAN HOMES 4 REN N/A AMERICAN HOMES 4 REN - TRS N/A 13441.00000000 NS USD 4878.42000000 0.002707059790 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 AMERICAN HOMES 4 REN AMERICAN HOMES 4 REN - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -370015.94000000 USD 4878.42000000 N N N AMERICAN TOWER CORP N/A AMERICAN TOWER CORP - TRS N/A 2168.00000000 NS USD -89593.56000000 -0.04971591699 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 AMERICAN TOWER CORP AMERICAN TOWER CORP - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -446230.16000000 USD -89593.56000000 N N N ALEXANDRIA REAL ESTA N/A ALEXANDRIA REAL ESTA - TRS N/A 38159.00000000 NS USD -680934.81000000 -0.37785415037 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 ALEXANDRIA REAL ESTA ALEXANDRIA REAL ESTA - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -2411260.63000000 USD -680934.81000000 N N N N/A N/A BBH Overnight Sweep N/A 4997733.50000000 PA USD 4997733.50000000 2.773267451900 Long STIV CORP US N 1 N N N BXP INC N/A BXP INC - TRS N/A 28152.00000000 NS USD 3662.14000000 0.002032139902 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 BXP INC BXP INC - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -1475623.68000000 USD 3662.14000000 N N N CBL & ASSOCIATES PRO N/A CBL & ASSOCIATES PRO - TRS N/A 4949.00000000 NS USD -1630.28000000 -0.00090465057 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 CBL & ASSOCIATES PRO CBL & ASSOCIATES PRO - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -189657.54000000 USD -1630.28000000 N N N COSTAR GROUP N/A COSTAR GROUP - TRS N/A -43081.00000000 NS USD 640990.03000000 0.355688591076 Short DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 COSTAR GROUP COSTAR GROUP - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD 2352153.15000000 USD 640990.03000000 N N N CUSHMAN & WAKEFIELD N/A CUSHMAN & WAKEFIELD - TRS N/A 102733.00000000 NS USD -230035.00000000 -0.12764757830 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 CUSHMAN & WAKEFIELD CUSHMAN & WAKEFIELD - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1469365.23000000 USD -230035.00000000 N N N HEALTHPEAK PROPERTIE N/A HEALTHPEAK PROPERTIE - TRS N/A 107049.00000000 NS USD -95375.47000000 -0.05292432792 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 HEALTHPEAK PROPERTIE HEALTHPEAK PROPERTIE - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1838112.37000000 USD -95375.47000000 N N N EQUITY RESIDENTIAL N/A EQUITY RESIDENTIAL - TRS N/A 26501.00000000 NS USD -111379.35000000 -0.06180496142 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 EQUITY RESIDENTIAL EQUITY RESIDENTIAL - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1667777.17000000 USD -111379.35000000 N N N EMPIRE STATE REALTY N/A EMPIRE STATE REALTY - TRS N/A -23120.00000000 NS USD 37371.73000000 0.020737760913 Short DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 EMPIRE STATE REALTY EMPIRE STATE REALTY - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD 156113.17000000 USD 37371.73000000 N N N EXTRA SPACE STORAGE N/A EXTRA SPACE STORAGE - TRS N/A 11047.00000000 NS USD -46219.45000000 -0.02564740523 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 EXTRA SPACE STORAGE EXTRA SPACE STORAGE - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1479250.85000000 USD -46219.45000000 N N N HOST HOTELS & RESORT N/A HOST HOTELS & RESORT - TRS N/A 80318.00000000 NS USD 88076.89000000 0.048874309184 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 HOST HOTELS & RESORT HOST HOTELS & RESORT - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1451930.55000000 USD 88076.89000000 N N N INNOVATIVE INDUSTRIA N/A INNOVATIVE INDUSTRIA - TRS N/A 12096.00000000 NS USD -80844.11000000 -0.04486080319 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 INNOVATIVE INDUSTRIA INNOVATIVE INDUSTRIA - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -695113.57000000 USD -80844.11000000 N N N INDUSTRIAL LOGISTICS N/A INDUSTRIAL LOGISTICS - TRS N/A 48452.00000000 NS USD -2863.17000000 -0.00158878743 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 INDUSTRIAL LOGISTICS INDUSTRIAL LOGISTICS - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -274848.81000000 USD -2863.17000000 N N N INVENTRUST PPTYS COR N/A INVENTRUST PPTYS COR - TRS N/A -59928.00000000 NS USD -109805.44000000 -0.06093159084 Short DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 INVENTRUST PPTYS COR INVENTRUST PPTYS COR - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD 1693972.78000000 USD -109805.44000000 N N N JONES LANG LASALLE I N/A JONES LANG LASALLE I - TRS N/A 6217.00000000 NS USD 124398.87000000 0.069029558543 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 JONES LANG LASALLE I JONES LANG LASALLE I - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1745002.72000000 USD 124398.87000000 N N N ST JOE CO/THE N/A ST JOE CO/THE - TRS N/A -12499.00000000 NS USD 18366.81000000 0.010191835232 Short DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 ST JOE CO/THE ST JOE CO/THE - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD 802643.28000000 USD 18366.81000000 N N N KIMCO REALTY CORP N/A KIMCO REALTY CORP - TRS N/A 85853.00000000 NS USD 125673.48000000 0.069736846042 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 KIMCO REALTY CORP KIMCO REALTY CORP - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1755409.93000000 USD 125673.48000000 N N N KILROY REALTY CORP N/A KILROY REALTY CORP - TRS N/A 29115.00000000 NS USD -272236.89000000 -0.15106561929 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 KILROY REALTY CORP KILROY REALTY CORP - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1091440.44000000 USD -272236.89000000 N N N KITE REALTY GROUP TR N/A KITE REALTY GROUP TR - TRS N/A 43756.00000000 NS USD -10821.64000000 -0.00600498245 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 KITE REALTY GROUP TR KITE REALTY GROUP TR - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -1083923.62999999 USD -10821.64000000 N N N LINEAGE INC N/A LINEAGE INC - TRS N/A 48892.00000000 NS USD -222356.93000000 -0.12338697865 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 LINEAGE INC LINEAGE INC - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1830963.82000000 USD -222356.93000000 N N N N/A N/A Wells Fargo Margin Deposit N/A 1387653.17000000 PA USD 1387653.17000000 0.770015722304 Long STIV CORP US N N/A N N N NATL HEALTH INVESTOR N/A NATL HEALTH INVESTOR - TRS N/A -22432.00000000 NS USD -34043.18000000 -0.01889073177 Short DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 NATL HEALTH INVESTOR NATL HEALTH INVESTOR - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD 1787703.73000000 USD -34043.18000000 N N N NEWMARK GROUP INC-CL N/A NEWMARK GROUP INC-CL - TRS N/A -37404.00000000 NS USD -23100.69000000 -0.01281868905 Short DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 NEWMARK GROUP INC-CL NEWMARK GROUP INC-CL - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD 537143.88000000 USD -23100.69000000 N N N NNN REIT INC N/A NNN REIT INC - TRS N/A 19739.00000000 NS USD -11550.34000000 -0.00640934175 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 NNN REIT INC NNN REIT INC - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -821035.25000000 USD -11550.34000000 N N N REALTY INCOME CORP N/A REALTY INCOME CORP - TRS N/A 14936.00000000 NS USD 17730.09000000 0.009838516102 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 REALTY INCOME CORP REALTY INCOME CORP - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -875022.56000000 USD 17730.09000000 N N N OPENDOOR TECHNOLOGIE N/A OPENDOOR TECHNOLOGIE - TRS N/A 370727.00000000 NS USD -130010.94000000 -0.07214372440 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 OPENDOOR TECHNOLOGIE OPENDOOR TECHNOLOGIE - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1861387.46000000 USD -130010.94000000 N N N OUTFRONT MEDIA INC N/A OUTFRONT MEDIA INC - TRS N/A 19756.00000000 NS USD 192274.16000000 0.106693898298 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 OUTFRONT MEDIA INC OUTFRONT MEDIA INC - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -319940.52000000 USD 192274.16000000 N N N PARK HOTELS & RESORT N/A PARK HOTELS & RESORT - TRS N/A 86853.00000000 NS USD -17969.00999999 -0.00997109401 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 PARK HOTELS & RESORT PARK HOTELS & RESORT - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -943188.84000000 USD -17969.00999999 N N N N/A N/A MORGAN STANLEY & COMPANY MARGIN DEPOSIT ACCOUNT N/A 24967722.28000000 PA USD 24967722.28000000 13.85471465159 Long STIV CORP US N N/A N N N N/A N/A MORGAN STANLEY & COMPANY MARGIN DEPOSIT ACCOUNT N/A -18622.82000000 PA USD -18622.82000000 -0.01033389646 Short STIV CORP US N 1 N N N REGENCY CENTERS CORP N/A REGENCY CENTERS CORP - TRS N/A 11714.00000000 NS USD 100417.66000000 0.055722264517 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 REGENCY CENTERS CORP REGENCY CENTERS CORP - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -793923.38000000 USD 100417.66000000 N N N SAFEHOLD INC N/A SAFEHOLD INC - TRS N/A 19145.00000000 NS USD -53576.57000000 -0.02972990812 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 SAFEHOLD INC SAFEHOLD INC - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -309368.28000000 USD -53576.57000000 N N N SABRA HEALTH CARE RE N/A SABRA HEALTH CARE RE - TRS N/A 40015.00000000 NS USD 25829.23000000 0.014332769617 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 SABRA HEALTH CARE RE SABRA HEALTH CARE RE - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -715506.18000000 USD 25829.23000000 N N N SITE CENTERS CORP N/A SITE CENTERS CORP - TRS N/A 184535.00000000 NS USD -9202.11000000 -0.00510629711 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 SITE CENTERS CORP SITE CENTERS CORP - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -1004663.90000000 USD -9202.11000000 N N N SIMON PROPERTY GROUP N/A SIMON PROPERTY GROUP - TRS N/A 4899.00000000 NS USD 147254.09000000 0.081712035056 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 SIMON PROPERTY GROUP SIMON PROPERTY GROUP - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -734943.32000000 USD 147254.09000000 N N N Urban Edge Prop N/A Urban Edge Prop - TRS N/A -90373.00000000 NS USD -75898.50000000 -0.04211645933 Short DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 Urban Edge Prop Urban Edge Prop - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD 1692356.70000000 USD -75898.50000000 N N N VICI PROPERTIES INC N/A VICI PROPERTIES INC - TRS N/A 51795.00000000 NS USD -81403.96000000 -0.04517146677 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 VICI PROPERTIES INC VICI PROPERTIES INC - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1490967.96000000 USD -81403.96000000 N N N VORNADO REALTY N/A VORNADO REALTY - TRS N/A 71291.00000000 NS USD -416662.63000000 -0.23120818871 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 VORNADO REALTY VORNADO REALTY - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -2236120.18000000 USD -416662.63000000 N N N VENTAS INC N/A VENTAS INC - TRS N/A 5320.00000000 NS USD 8180.49000000 0.004539395039 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 VENTAS INC VENTAS INC - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -424675.91000000 USD 8180.49000000 N N N N/A N/A Wells Fargo Margin Deposit N/A 1626771.99000000 PA USD 1626771.99000000 0.902703958010 Long STIV CORP US N N/A N N N WP CAREY INC N/A WP CAREY INC - TRS N/A 20413.00000000 NS USD 162972.17000000 0.090434076692 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 WP CAREY INC WP CAREY INC - TRS Y Underlying Return 2026-11-25 0.00000000 USD 0.00000000 USD -1192075.30000000 USD 162972.17000000 N N N CHIRON REAL ESTATE I N/A CHIRON REAL ESTATE I - TRS N/A 18434.00000000 NS USD 3799.19000000 0.002108189636 Long DE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 CHIRON REAL ESTATE I CHIRON REAL ESTATE I - TRS Y Underlying Return 2026-11-23 0.00000000 USD 0.00000000 USD -605378.09000000 USD 3799.19000000 N N N 2026-05-19 New Age Alpha Funds Trust Keith D. Kemp Keith D. Kemp President