The RealReal
REAL
236 hedge funds and large institutions have $1.83B invested in The RealReal in 2025 Q4 according to their latest regulatory filings, with 45 funds opening new positions, 88 increasing their positions, 82 reducing their positions, and 27 closing their positions.
134% more call options, than puts
Call options by funds: $68.1M | Put options by funds: $29.2M
68% more capital invested
Capital invested by funds: $1.09B → $1.83B (+$744M)
67% more first-time investments, than exits
New positions opened: 45 | Existing positions closed: 27
17% more funds holding in top 10
Funds holding in top 10: 6 → 7 (+1)
10.61% more ownership
Funds ownership: 89.03% → 99.64% (+11%)
6% more funds holding
Funds holding: 223 → 236 (+13)
7% more repeat investments, than reductions
Existing positions increased: 88 | Existing positions reduced: 82
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$157M |
| 2 |
Arrowstreet Capital
Boston,
Massachusetts
|
+$33.4M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$25.1M |
| 4 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
+$21.7M |
| 5 |
American Century Companies
Kansas City,
Missouri
|
+$13.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KWM
Kanen Wealth Management
Coconut Creek,
Florida
|
-$30.5M |
| 2 |
Marshall Wace
London,
United Kingdom
|
-$20.3M |
| 3 |
Goldman Sachs
New York
|
-$13.3M |
| 4 |
WCM
Woodson Capital Management
Greenwich,
Connecticut
|
-$13.1M |
| 5 |
Morgan Stanley
New York
|
-$11M |
REAL Hedge Fund Activity: Q4 2025 in Review
236 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in The RealReal (REAL) for Q4 2025, worth a combined $1.83B — up 68% from $1.09B a quarter earlier.
Buyers outnumbered sellers: 45 funds opened new REAL positions and 27 closed out — a net gain of 18 holders — while 88 added to existing stakes and 82 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $157M. The largest seller was Kanen Wealth Management, cutting an estimated $30.5M.
- 236 institutional investors held The RealReal (REAL) as of Q4 2025, up from 223 in Q3 2025.
- Funds reported $1.83B of The RealReal stock for Q4 2025, up 68% quarter-over-quarter.
- 45 funds opened new The RealReal positions in Q4 2025 and 27 closed out, a net change of +18 holders.
- The largest The RealReal buyer in Q4 2025 was Fidelity Investments, an estimated $157M added.
- The largest The RealReal seller in Q4 2025 was Kanen Wealth Management, an estimated $30.5M sold.
Based on aggregated 13F filings for Q4 2025.