The RealReal
REAL
223 hedge funds and large institutions have $1.09B invested in The RealReal in 2025 Q3 according to their latest regulatory filings, with 53 funds opening new positions, 75 increasing their positions, 75 reducing their positions, and 32 closing their positions.
140% more capital invested
Capital invested by funds: $454M → $1.09B (+$636M)
134% more call options, than puts
Call options by funds: $44.3M | Put options by funds: $18.9M
66% more first-time investments, than exits
New positions opened: 53 | Existing positions closed: 32
20% more funds holding in top 10
Funds holding in top 10: 5 → 6 (+1)
10% more funds holding
Funds holding: 203 → 223 (+20)
5.17% more ownership
Funds ownership: 83.86% → 89.03% (+5.2%)
0% more repeat investments, than reductions
Existing positions increased: 75 | Existing positions reduced: 75
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DSCM
Divisadero Street Capital Management
Miami,
Florida
|
+$16.7M |
| 2 |
American Century Companies
Kansas City,
Missouri
|
+$13.2M |
| 3 |
N
Nuveen
Charlotte,
North Carolina
|
+$12.4M |
| 4 |
JAM
Jupiter Asset Management
London,
United Kingdom
|
+$12.1M |
| 5 |
BNP Paribas Financial Markets
Paris,
France
|
+$11.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Verition Fund Management
Greenwich,
Connecticut
|
-$22.7M |
| 2 |
WCM
Woodson Capital Management
Greenwich,
Connecticut
|
-$21.5M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$15.2M |
| 4 |
CC
Cannell Capital
Alta,
Wyoming
|
-$7.92M |
| 5 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$6.55M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
PCM
251
Palisade Capital Management
Fort Lee,
New Jersey
| – | -$47.9K | -10,000 | Closed |
|
|
WCM
252
Westend Capital Management
Sausalito,
California
| – | -$17.5K | -3,645 | Closed |
|
|
AMH
253
Apollo Management Holdings
New York
| – | -$13.9K | -2,894 | Closed |
|
254
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$2.4K | -500 | Closed |
|
REAL Hedge Fund Activity: Q3 2025 in Review
223 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in The RealReal (REAL) for Q3 2025, worth a combined $1.09B — up 140% from $454M a quarter earlier.
Buyers outnumbered sellers: 53 funds opened new REAL positions and 32 closed out — a net gain of 21 holders — while 75 added to existing stakes and 75 trimmed.
The largest buyer was Divisadero Street Capital Management, adding an estimated $16.7M. The largest seller was Verition Fund Management, cutting an estimated $22.7M.
- 223 institutional investors held The RealReal (REAL) as of Q3 2025, up from 203 in Q2 2025.
- Funds reported $1.09B of The RealReal stock for Q3 2025, up 140% quarter-over-quarter.
- 53 funds opened new The RealReal positions in Q3 2025 and 32 closed out, a net change of +21 holders.
- The largest The RealReal buyer in Q3 2025 was Divisadero Street Capital Management, an estimated $16.7M added.
- The largest The RealReal seller in Q3 2025 was Verition Fund Management, an estimated $22.7M sold.
Based on aggregated 13F filings for Q3 2025.