Net Lease Office Properties
NLOP
261 hedge funds and large institutions have $263M invested in Net Lease Office Properties in 2025 Q1 according to their latest regulatory filings, with 26 funds opening new positions, 62 increasing their positions, 72 reducing their positions, and 38 closing their positions.
343% more call options, than puts
Call options by funds: $8.91M | Put options by funds: $2.01M
5% less funds holding
Funds holding: 276 → 261 (-15)
11.16% less ownership
Funds ownership: 67.71% → 56.54% (-11%)
14% less repeat investments, than reductions
Existing positions increased: 62 | Existing positions reduced: 72
16% less capital invested
Capital invested by funds: $312M → $263M (-$49.7M)
32% less first-time investments, than exits
New positions opened: 26 | Existing positions closed: 38
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AVI
Asset Value Investors
London,
United Kingdom
|
+$6.92M |
| 2 |
Pacer Advisors
Malvern,
Pennsylvania
|
+$4.49M |
| 3 |
TSW
Thompson Siegel & Walmsley
Richmond,
Virginia
|
+$3.69M |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$3.16M |
| 5 |
Invesco
Atlanta,
Georgia
|
+$2.74M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPC
Long Pond Capital
New York
|
-$26.9M |
| 2 |
Morgan Stanley
New York
|
-$22.7M |
| 3 |
CP
Castalian Partners
Excelsior,
Minnesota
|
-$6.36M |
| 4 |
JGC
J. Goldman & Co
New York
|
-$4.3M |
| 5 |
National Bank of Canada
Montreal,
Quebec, Canada
|
-$3.53M |
NLOP Hedge Fund Activity: Q1 2025 in Review
261 of the 7,472 institutional investors tracked by Wall St. Rank reported a position in Net Lease Office Properties (NLOP) for Q1 2025, worth a combined $263M — down 16% from $312M a quarter earlier.
Sellers outnumbered buyers: 38 funds closed out of NLOP and 26 opened new positions — a net loss of 12 holders — while 72 trimmed existing stakes and 62 added.
The largest buyer was Asset Value Investors, adding an estimated $6.92M. The largest seller was Long Pond Capital, exiting entirely with an estimated $26.9M sold.
- 261 institutional investors held Net Lease Office Properties (NLOP) as of Q1 2025, down from 276 in Q4 2024.
- Funds reported $263M of Net Lease Office Properties stock for Q1 2025, down 16% quarter-over-quarter.
- 26 funds opened new Net Lease Office Properties positions in Q1 2025 and 38 closed out, a net change of -12 holders.
- The largest Net Lease Office Properties buyer in Q1 2025 was Asset Value Investors, an estimated $6.92M added.
- The largest Net Lease Office Properties seller in Q1 2025 was Long Pond Capital, an estimated $26.9M sold.
Based on aggregated 13F filings for Q1 2025.