FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

 OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response... 0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                       
1. Name and Address of Reporting Person * NEXPOINT DIVERSIFIED REAL ESTATE TRUST 2. Date of Event Requiring Statement (MM/DD/YYYY)
12/23/2022 

 3. Issuer Name and Ticker or Trading Symbol NexPoint Real Estate Finance, Inc. [NREF]
(Last)        (First)        (Middle)
300 CRESCENT COURT, SUITE 700		 4. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                          ___X___ 10% Owner
_____ Officer (give title below)        _____ Other (specify below)
(Street)
DALLAS, TX 75201      
(City)              (State)              (Zip)
 5. If Amendment, Date Original Filed(MM/DD/YYYY)
 

 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock  2100000  I  See Footnote (1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(MM/DD/YYYY)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Class B OP Units (2)  (3)  (3) Common Stock  4869081.43   (3) I  See Footnote (1)

Explanation of Responses:
(1)  These securities are owned directly by NexPoint Real Estate Opportunities, LLC ("NREO"), which is a wholly owned subsidiary of NexPoint Diversified Real Estate Trust Operating Partnership, L.P. (the "NXDT OP"), which is a wholly owned subsidiary of NexPoint Diversified Real Estate Trust ("NXDT"). The NXDT OP and NXDT are indirect beneficial owners of the reported securities.
(2)  Represents common units of limited partnership interest ("OP Units") in NexPoint Real Estate Finance Operating Partnership, L.P., the operating partnership (the "OP") of NexPoint Real Estate Finance, Inc. (the "Issuer").
(3)  The OP Units are redeemable, subject to certain requirements, for cash or, at the election of the Issuer, for shares of the Issuer's common stock on a one-for-one basis. The OP Units were vested as of the date of issuance and have no expiration date.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
NEXPOINT DIVERSIFIED REAL ESTATE TRUST
300 CRESCENT COURT, SUITE 700
DALLAS, TX 75201
X

NexPoint Real Estate Opportunities, LLC
300 CRESCENT COURT, SUITE 700
DALLAS, TX 75201
X


Signatures
/s/ Brian Mitts, Authorized Officer 12/23/2022
**Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
NexPoint Real Estate Fin... (NYSE:NREF)
Historical Stock Chart
From May 2023 to Jun 2023 Click Here for more NexPoint Real Estate Fin... Charts.
NexPoint Real Estate Fin... (NYSE:NREF)
Historical Stock Chart
From Jun 2022 to Jun 2023 Click Here for more NexPoint Real Estate Fin... Charts.