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NLOP

Net Lease Office Properties
NLOP

254 hedge funds and large institutions have $217M invested in Net Lease Office Properties in 2025 Q4 according to their latest regulatory filings, with 37 funds opening new positions, 66 increasing their positions, 61 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

61% more first-time investments, than exits

New positions opened: 37 | Existing positions closed: 23

55% more call options, than puts

Call options by funds: $1.41M | Put options by funds: $905K

3% more funds holding

Funds holding: 247 → 254 (+7)

8% more repeat investments, than reductions

Existing positions increased: 66 | Existing positions reduced: 61

0.09% more ownership

Funds ownership: 56.76% → 56.84% (+0.09%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

13% less capital invested

Capital invested by funds: $250M → $217M (-$32.9M)

Holders
254
Holders Change
+7
Holders Change %
+2.83%
% of All Funds
3.09%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
37
Increased
66
Reduced
61
Closed
23
Calls
$1.41M
Puts
$905K
Net Calls
+$500K
Net Calls Change
-$2.94M

Top Buyers

1
TSW
Thompson Siegel & Walmsley
Virginia
+$6.89M
2
Millennium Management
Millennium Management
New York
+$3.57M
3
Man Group
Man Group
United Kingdom
+$966K
4
BCM
Bluefin Capital Management
New York
+$848K
5
GCWM
Graham Capital Wealth Management
District of Columbia
+$704K

Top Sellers

1
GF
Gabelli Funds
New York
-$2.66M
2
JGC
J. Goldman & Co
New York
-$2.41M
3
Renaissance Technologies
Renaissance Technologies
New York
-$1.88M
4
Russell Investments Group
Russell Investments Group
United Kingdom
-$1.75M
5
UBS Group
UBS Group
Switzerland
-$1.72M
Name Holding Trade Value Shares
Change 		Change in
Stake
Carson Wealth (CWM LLC)
101
Carson Wealth (CWM LLC)
Nebraska
$24K +$8.34K +295 +47%
TRCT
102
Tower Research Capital (TRC)
New York
$23.8K -$8.99K -318 -26%
California State Teachers Retirement System (CalSTRS)
103
California State Teachers Retirement System (CalSTRS)
California
$23.6K -$4.55K -161 -15%
LI
104
LRI Investments
Florida
$22.8K – – –
SCM
105
Sterling Capital Management
North Carolina
$22.4K -$4.81K -170 -16%
VanEck Associates
106
VanEck Associates
New York
$22K +$1.78K +63 +8%
Jones Financial Companies
107
Jones Financial Companies
Missouri
$20.9K +$4.81K +170 +27%
OCM
108
Orion Capital Management
California
$20.5K – – –
AAP
109
Arax Advisory Partners
Colorado
$20.2K -$9.16K -324 -29%
MCM
110
MAI Capital Management
Ohio
$17.6K +$1.98K +70 +11%
EWA
111
EverSource Wealth Advisors
Alabama
$14.6K -$11.9K -420 -43%
FFA
112
Farther Finance Advisors
California
$14.1K +$11.3K +399 +271%
AIS
113
Advocate Investing Services
Maryland
$14K +$15.4K +544 New
CIAM
114
Caitong International Asset Management
Hong Kong
$14K +$13.2K +466 +605%
CIBC Private Wealth Group
115
CIBC Private Wealth Group
Georgia
$13.7K +$10.4K +368 +223%
Northwestern Mutual Wealth Management
116
Northwestern Mutual Wealth Management
Wisconsin
$12.8K +$3.99K +141 +40%
AB
117
Amalgamated Bank
New York
$12K -$424 -15 -3%
IAIM
118
International Assets Investment Management
Florida
$12K +$13.2K +465 New
BW
119
Basepoint Wealth
Iowa
$11.1K +$12.1K +428 New
AW
120
Avion Wealth
Texas
$11K – – –
BLC
121
Brown, Lisle/Cummings
Rhode Island
$10.3K -$141 -5 -1%
PNC Financial Services Group
122
PNC Financial Services Group
Pennsylvania
$10.3K +$3.71K +131 +49%
RFP
123
Root Financial Partners
California
$8.41K -$28 -1 -0.3%
CTWM
124
Cherry Tree Wealth Management
Minnesota
$8.15K – – –
GI
125
GAMMA Investing
California
$7.68K -$2.49K -88 -23%
3 4
5
6 7

NLOP Hedge Fund Activity: Q4 2025 in Review

254 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Net Lease Office Properties (NLOP) for Q4 2025, worth a combined $217M — down 13% from $250M a quarter earlier.

Buyers outnumbered sellers: 37 funds opened new NLOP positions and 23 closed out — a net gain of 14 holders — while 66 added to existing stakes and 61 trimmed.

The largest buyer was Thompson Siegel & Walmsley, adding an estimated $6.89M. The largest seller was Gabelli Funds, exiting entirely with an estimated $2.66M sold.

  • 254 institutional investors held Net Lease Office Properties (NLOP) as of Q4 2025, up from 247 in Q3 2025.
  • Funds reported $217M of Net Lease Office Properties stock for Q4 2025, down 13% quarter-over-quarter.
  • 37 funds opened new Net Lease Office Properties positions in Q4 2025 and 23 closed out, a net change of +14 holders.
  • The largest Net Lease Office Properties buyer in Q4 2025 was Thompson Siegel & Walmsley, an estimated $6.89M added.
  • The largest Net Lease Office Properties seller in Q4 2025 was Gabelli Funds, an estimated $2.66M sold.

Based on aggregated 13F filings for Q4 2025.