Who owns NexPoint Real Estate Finance (NREF)
Which tracked institutional funds hold NREF, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See NREF company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on NREF is one-sided between 2026-Q1 and 2026-Q2: 9 added or opened and 3 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
NREF’s largest tracked holder by dollar value, NEXPOINT ASSET MANAGEMENT, L.P., sizes it at 9.8% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 9.8pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in NREF divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 72 tracked filers holding NREF, 38 increased or opened the position and 39 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in NREF between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
Full exits 3
- MILLENNIUM MANAGEMENT LLC$1M
- Penserra Capital Management LLC$1M
- WEDBUSH SECURITIES INC$842K
Largest adds
- NEXPOINT ASSET MANAGEMENT, L.P.$19M
- BlackRock, Inc.$2M
- VANGUARD CAPITAL MANAGEMENT LLC$1M
- INDEPENDENT FINANCIAL GROUP, LLC$1M
- RAYMOND JAMES FINANCIAL INC$512K
- MORGAN STANLEY$441K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| NEXPOINT ASSET MANAGEMENT, L.P. | 9,439,635 | $146M | 69.3% | 2026-Q2 |
| BlackRock, Inc. added | 624,275 | $10M | 4.6% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 346,323 | $5M | 2.5% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 292,853 | $5M | 2.1% | 2026-Q2 |
| INDEPENDENT FINANCIAL GROUP, LLC added | 281,010 | $4M | 2.1% | 2026-Q2 |
| MORGAN STANLEY added | 195,067 | $3M | 1.4% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 182,678 | $3M | 1.3% | 2026-Q2 |
| STATE STREET CORP trimmed | 173,362 | $3M | 1.3% | 2026-Q2 |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC trimmed | 155,328 | $2M | 1.1% | 2026-Q2 |
| Copley Financial Group, Inc. added | 110,587 | $2M | 0.8% | 2026-Q2 |
| RITHOLTZ WEALTH MANAGEMENT trimmed | 104,618 | $2M | 0.8% | 2026-Q2 |
| 1776 Wealth LLC | 72,399 | $1M | 0.5% | 2026-Q2 |
| NORTHERN TRUST CORP added | 57,141 | $886K | 0.4% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC trimmed | 51,585 | $800K | 0.4% | 2026-Q2 |
| LPL Financial LLC added | 50,332 | $780K | 0.4% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 48,334 | $749K | 0.4% | 2026-Q2 |
| Cetera Investment Advisers added | 41,722 | $647K | 0.3% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 41,174 | $638K | 0.3% | 2026-Q2 |
| Morey & Quinn Wealth Partners, LLC trimmed | 36,562 | $567K | 0.3% | 2026-Q2 |
| JACOBS LEVY EQUITY MANAGEMENT, INC trimmed | 33,387 | $517K | 0.2% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 32,075 | $497K | 0.2% | 2026-Q2 |
| Oak Grove Capital LLC new | 27,000 | $418K | 0.2% | 2026-Q2 |
| Concorde Asset Management, LLC added | 25,950 | $402K | 0.2% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 23,620 | $366K | 0.2% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 23,445 | $363K | 0.2% | 2026-Q2 |
| Navis Wealth Advisors, LLC added | 20,819 | $323K | 0.2% | 2026-Q2 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC new | 18,400 | $285K | 0.1% | 2026-Q2 |
| Bank of New York Mellon Corp added | 17,489 | $271K | 0.1% | 2026-Q2 |
| OPPENHEIMER & CO INC new | 17,357 | $269K | 0.1% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 14,880 | $231K | 0.1% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 15,440 | $208K | 0.1% | 2026-Q2 |
| Nuveen, LLC new | 12,716 | $197K | 0.1% | 2026-Q2 |
| Callan Family Office, LLC | 12,218 | $189K | 0.1% | 2026-Q2 |
| BARCLAYS PLC added | 11,989 | $186K | 0.1% | 2026-Q2 |
| Invesco Ltd. trimmed | 10,694 | $166K | 0.1% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC | 10,141 | $157K | 0.1% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC new | 10,088 | $156K | 0.1% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 10,073 | $156K | 0.1% | 2026-Q2 |
| UBS Group AG trimmed | 8,059 | $125K | 0.1% | 2026-Q2 |
| Daytona Street Capital LLC | 7,000 | $112K | 0.1% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 7,001 | $109K | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 6,759 | $105K | 0.0% | 2026-Q2 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | 5,820 | $90K | 0.0% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND | 5,468 | $85K | 0.0% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 4,862 | $75K | 0.0% | 2026-Q2 |
| CITIGROUP INC trimmed | 3,748 | $58K | 0.0% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed | 3,305 | $51K | 0.0% | 2026-Q2 |
| Vanguard Global Advisers, LLC | 3,291 | $51K | 0.0% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 3,169 | $49K | 0.0% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1,885 | $29K | 0.0% | 2026-Q2 |
| Police & Firemen's Retirement System of New Jersey | 1,846 | $29K | 0.0% | 2026-Q2 |
| STRS OHIO | 1,700 | $26K | 0.0% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 1,591 | $25K | 0.0% | 2026-Q2 |
| NISA INVESTMENT ADVISORS, LLC trimmed | 1,037 | $16K | 0.0% | 2026-Q2 |
| Tower Research Capital LLC (TRC) trimmed | 819 | $13K | 0.0% | 2026-Q2 |
| Legal & General Group Plc | 717 | $11K | 0.0% | 2026-Q2 |
| Ameritas Investment Partners, Inc. | 588 | $9K | 0.0% | 2026-Q2 |
| FMR LLC added | 478 | $7K | 0.0% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP | 300 | $5K | 0.0% | 2026-Q2 |
| GAMMA Investing LLC added | 242 | $4K | 0.0% | 2026-Q2 |
| Arax Advisory Partners added | 198 | $3K | 0.0% | 2026-Q2 |
| Sterling Capital Management LLC trimmed | 125 | $2K | 0.0% | 2026-Q2 |
| EverSource Wealth Advisors, LLC added | 125 | $2K | 0.0% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM trimmed | 94 | $1K | 0.0% | 2026-Q2 |
| MassMutual Private Wealth & Trust, FSB | 64 | $992 | 0.0% | 2026-Q2 |
| PNC Financial Services Group, Inc. | 40 | $620 | 0.0% | 2026-Q2 |
| Essential Partners LLC added | 17 | $264 | 0.0% | 2026-Q2 |
| Allworth Financial LP added | 9 | $140 | 0.0% | 2026-Q2 |
| IFP Advisors, Inc trimmed | 7 | $108 | 0.0% | 2026-Q2 |
| True Wealth Design, LLC added | 4 | $62 | 0.0% | 2026-Q2 |
| ROTHSCHILD INVESTMENT LLC added | 4 | $62 | 0.0% | 2026-Q2 |
| Farther Finance Advisors, LLC new | 4 | $62 | 0.0% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC added | 102,222 | $1M | 0.7% | 2026-Q1 stale (1 quarter behind) |
| Penserra Capital Management LLC added | 83,374 | $1M | 0.5% | 2026-Q1 stale (1 quarter behind) |
| WEDBUSH SECURITIES INC trimmed | 62,482 | $842K | 0.4% | 2026-Q1 stale (1 quarter behind) |
| HighTower Advisors, LLC added | 27,710 | $373K | 0.2% | 2026-Q1 stale (1 quarter behind) |
| TWO SIGMA INVESTMENTS, LP trimmed | 11,991 | $162K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| PFG Investments, LLC added | 11,299 | $152K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| SG Americas Securities, LLC new | 7,948 | $107K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| Strategic Wealth Partners, Ltd. added | 6,185 | $83K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| ACADIAN ASSET MANAGEMENT LLC trimmed | 3,637 | $48K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Legacy Wealth Managment, LLC/ID trimmed | 2,381 | $32K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Advisory Services Network, LLC trimmed | 358 | $5K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| VANGUARD GROUP INC trimmed | 397,174 | $6M | 2.6% | 2025-Q4 stale (2 quarters behind) |
| Berkeley Capital Partners, LLC added | 40,909 | $576K | 0.3% | 2025-Q4 stale (2 quarters behind) |
| JANE STREET GROUP, LLC trimmed | 22,422 | $316K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Summit Asset Management, LLC | 40,083 | $568K | 0.3% | 2025-Q3 stale (3 quarters behind) |
| Vident Advisory, LLC new | 18,120 | $257K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| HSBC HOLDINGS PLC trimmed | 13,930 | $198K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| HRT FINANCIAL LP new | 11,733 | $166K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| MARSHALL WACE, LLP added | 56,732 | $782K | 0.4% | 2025-Q2 stale (4 quarters behind) |
| Cambridge Investment Research Advisors, Inc. trimmed | 37,938 | $523K | 0.2% | 2025-Q2 stale (4 quarters behind) |
| Corton Capital Inc. added | 17,104 | $236K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| Kapitalo Investimentos Ltda new | 12,496 | $172K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| Atria Wealth Solutions, Inc. trimmed | 11,674 | $161K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 11,273 | $155K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| Legacy Investment Solutions, LLC added | 1,774 | $24K | 0.0% | 2025-Q2 stale (4 quarters behind) |
| Ameritas Advisory Services, LLC new | 600 | $8K | 0.0% | 2025-Q2 stale (4 quarters behind) |
| OLIVER LAGORE VANVALIN INVESTMENT GROUP | 500 | $8K | 0.0% | 2025-Q2 stale (4 quarters behind) |
| Transce3nd, LLC | 554 | $8K | 0.0% | 2025-Q2 stale (4 quarters behind) |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.