NNN REIT
521 hedge funds and large institutions have $6.94B invested in NNN REIT in 2025 Q4 according to their latest regulatory filings, with 75 funds opening new positions, 184 increasing their positions, 185 reducing their positions, and 53 closing their positions.
42% more first-time investments, than exits
New positions opened: 75 | Existing positions closed: 53
31% more call options, than puts
Call options by funds: $10.3M | Put options by funds: $7.86M
3% more funds holding
Funds holding: 506 → 521 (+15)
2.16% more ownership
Funds ownership: 90.06% → 92.22% (+2.2%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
1% less repeat investments, than reductions
Existing positions increased: 184 | Existing positions reduced: 185
4% less capital invested
Capital invested by funds: $7.22B → $6.94B (-$280M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Hudson Bay Capital Management
Stamford,
Connecticut
|
+$33.4M |
| 2 |
RIM
Rush Island Management
New York
|
+$31.3M |
| 3 |
JFG
Jefferies Financial Group
New York
|
+$29M |
| 4 |
LIMS
Lasalle Investment Management Securities
Baltimore,
Maryland
|
+$24.7M |
| 5 |
JP Morgan Chase
New York
|
+$22.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CIM
Centersquare Investment Management
Conshohocken,
Pennsylvania
|
-$60.5M |
| 2 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$30.2M |
| 3 |
Fidelity Investments
Boston,
Massachusetts
|
-$25.1M |
| 4 |
State Street
Boston,
Massachusetts
|
-$23.6M |
| 5 |
FGP
Freestone Grove Partners
San Francisco,
California
|
-$21M |
NNN Hedge Fund Activity: Q4 2025 in Review
521 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in NNN REIT (NNN) for Q4 2025, worth a combined $6.94B — down 3.9% from $7.22B a quarter earlier.
Buyers outnumbered sellers: 75 funds opened new NNN positions and 53 closed out — a net gain of 22 holders — while 184 added to existing stakes and 185 trimmed.
The largest buyer was Hudson Bay Capital Management, adding an estimated $33.4M. The largest seller was Centersquare Investment Management, exiting entirely with an estimated $60.5M sold.
- 521 institutional investors held NNN REIT (NNN) as of Q4 2025, up from 506 in Q3 2025.
- Funds reported $6.94B of NNN REIT stock for Q4 2025, down 3.9% quarter-over-quarter.
- 75 funds opened new NNN REIT positions in Q4 2025 and 53 closed out, a net change of +22 holders.
- The largest NNN REIT buyer in Q4 2025 was Hudson Bay Capital Management, an estimated $33.4M added.
- The largest NNN REIT seller in Q4 2025 was Centersquare Investment Management, an estimated $60.5M sold.
Based on aggregated 13F filings for Q4 2025.