NexPoint Real Estate Finance
NREF
79 hedge funds and large institutions have $182M invested in NexPoint Real Estate Finance in 2025 Q4 according to their latest regulatory filings, with 13 funds opening new positions, 22 increasing their positions, 34 reducing their positions, and 10 closing their positions.
93% more call options, than puts
Call options by funds: $27K | Put options by funds: $14K
30% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 10
8% more capital invested
Capital invested by funds: $168M → $182M (+$13.5M)
5.87% more ownership
Funds ownership: 66.89% → 72.76% (+5.9%)
4% more funds holding
Funds holding: 76 → 79 (+3)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
35% less repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 34
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NAM
Nexpoint Asset Management
Dallas,
Texas
|
+$11.9M |
| 2 |
IFG
Independent Financial Group
San Diego,
California
|
+$2.32M |
| 3 |
OSAM
O'Shaughnessy Asset Management
Stamford,
Connecticut
|
+$652K |
| 4 |
RWM
Ritholtz Wealth Management
New York
|
+$409K |
| 5 |
Morgan Stanley
New York
|
+$403K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$738K |
| 2 |
SAM
Summit Asset Management
Memphis,
Tennessee
|
-$568K |
| 3 |
Vanguard Group
Malvern,
Pennsylvania
|
-$488K |
| 4 |
VA
Vident Advisory
Alpharetta,
Georgia
|
-$257K |
| 5 |
HSBC Holdings
London,
United Kingdom
|
-$198K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
MCM
76
MAI Capital Management
Independence,
Ohio
| $85 | +$84 | +6 | New |
|
|
AF
77
Allworth Financial
Folsom,
California
| $15 | -$28 | -2 | -67% |
|
|
AAP
78
Arax Advisory Partners
Denver,
Colorado
| $14 | -$1.73K | -124 | -99% |
|
|
RIL
79
Rothschild Investment LLC
Chicago,
Illinois
| $14 | +$14 | +1 | New |
|
|
SAM
80
Summit Asset Management
Memphis,
Tennessee
| – | -$568K | -40,083 | Closed |
|
|
VA
81
Vident Advisory
Alpharetta,
Georgia
| – | -$257K | -18,120 | Closed |
|
|
82
HSBC Holdings
London,
United Kingdom
| – | -$198K | -13,930 | Closed |
|
|
HF
83
HRT Financial
New York
| – | -$166K | -11,733 | Closed |
|
|
PI
84
PFG Investments
Woodbury,
New York
| – | -$153K | -10,765 | Closed |
|
85
Simplex Trading
Chicago,
Illinois
| – | -$24K | -1,714 | Closed |
|
|
ASN
86
Advisory Services Network
Atlanta,
Georgia
| – | -$14.1K | -993 | Closed |
|
|
PWMG
87
Private Wealth Management Group
Princeton,
New Jersey
| – | -$2.64K | -186 | Closed |
|
|
PWA
88
Physician Wealth Advisors
Midvale,
Utah
| – | -$965 | -68 | Closed |
|
|
TWD
89
True Wealth Design
Akron,
Ohio
| – | -$71 | -5 | Closed |
|
NREF Hedge Fund Activity: Q4 2025 in Review
79 of the 8,225 institutional investors tracked by Wall St. Rank reported a position in NexPoint Real Estate Finance (NREF) for Q4 2025, worth a combined $182M — up 8% from $168M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new NREF positions and 10 closed out — a net gain of 3 holders — while 22 added to existing stakes and 34 trimmed.
The largest buyer was Nexpoint Asset Management, adding an estimated $11.9M. The largest seller was Millennium Management, cutting an estimated $738K.
- 79 institutional investors held NexPoint Real Estate Finance (NREF) as of Q4 2025, up from 76 in Q3 2025.
- Funds reported $182M of NexPoint Real Estate Finance stock for Q4 2025, up 8% quarter-over-quarter.
- 13 funds opened new NexPoint Real Estate Finance positions in Q4 2025 and 10 closed out, a net change of +3 holders.
- The largest NexPoint Real Estate Finance buyer in Q4 2025 was Nexpoint Asset Management, an estimated $11.9M added.
- The largest NexPoint Real Estate Finance seller in Q4 2025 was Millennium Management, an estimated $738K sold.
Based on aggregated 13F filings for Q4 2025.