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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
Vanguard Group
1
Vanguard Group
Pennsylvania
$41.5M +$89.2K +3,154 +0.2%
BlackRock
2
BlackRock
New York
$35.5M +$379K +13,390 +1%
AVI
3
Asset Value Investors
United Kingdom
$19.7M -$164K -5,800 -0.8%
TSW
4
Thompson Siegel & Walmsley
Virginia
$13.5M +$6.89M +243,575 +87%
JGC
5
J. Goldman & Co
New York
$13.3M -$2.41M -85,126 -14%
Geode Capital Management
6
Geode Capital Management
Massachusetts
$11M +$216K +7,623 +2%
State Street
7
State Street
Massachusetts
$10.7M +$89.3K +3,158 +0.8%
Dimensional Fund Advisors
8
Dimensional Fund Advisors
Texas
$5.02M +$21K +741 +0.4%
Millennium Management
9
Millennium Management
New York
$4.22M +$3.57M +126,250 +338%
KPF
10
K2 Principal Fund
Ontario, Canada
$3.98M +$274K +9,700 +7%
Northern Trust
11
Northern Trust
Illinois
$2.76M -$239K -8,466 -7%
Morgan Stanley
12
Morgan Stanley
New York
$2.75M +$31.4K +1,110 +1%
Arrowstreet Capital
13
Arrowstreet Capital
Massachusetts
$2.62M -$291K -10,280 -9%
VIM
14
VELA Investment Management
Ohio
$2.43M +$622K +21,991 +30%
GCWM
15
Graham Capital Wealth Management
District of Columbia
$2.19M +$704K +24,899 +42%
DS
16
DRW Securities
Illinois
$2.06M -$595K -21,029 -21%
GCIA
17
Gabelli & Co Investment Advisers
New York
$2M -$1.01M -35,619 -31%
Two Sigma Investments
18
Two Sigma Investments
New York
$1.81M -$910K -32,156 -31%
RC
19
Rangeley Capital
Connecticut
$1.77M -$43K -1,520 -2%
MM
20
Marnell Management
Michigan
$1.75M +$1.92M +68,027 New
Raymond James Financial
21
Raymond James Financial
Florida
$1.5M +$48.3K +1,709 +3%
Man Group
22
Man Group
United Kingdom
$1.49M +$966K +34,159 +144%
Bank of New York Mellon
23
Bank of New York Mellon
New York
$1.45M +$368 +13 +0%
MG
24
Marex Group
$1.31M +$203K +7,169 +16%
MAM
25
Martingale Asset Management
Massachusetts
$1.3M +$11K +389 +0.8%
1
2 3 4 5

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.