Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in NREF held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. | 9.4M | $127.2M | 0.0% | 50.514% | 8.73% |
| 2 | BlackRock, Inc. | 594K | $8.0M | -5.0% | 3.179% | 0.00% |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 309K | $4.2M | β | 1.656% | 0.00% |
| 4 | RAYMOND JAMES FINANCIAL INC | 299K | $4.0M | -4.8% | 1.600% | 0.00% |
| 5 | MORGAN STANLEY | 192K | $2.6M | -1.3% | 1.026% | 0.00% |
| 6 | GEODE CAPITAL MANAGEMENT, LLC | 179K | $2.4M | +2.9% | 0.959% | 0.00% |
| 7 | STATE STREET CORP | 176K | $2.4M | +2.8% | 0.940% | 0.00% |
| 8 | O'SHAUGHNESSY ASSET MANAGEMENT, LLC | 156K | $2.1M | -1.3% | 0.833% | 0.01% |
| 9 | RITHOLTZ WEALTH MANAGEMENT | 113K | $1.5M | +16.4% | 0.603% | 0.03% |
| 10 | Copley Financial Group, Inc. | 111K | $1.5M | -10.4% | 0.591% | 0.90% |
| 11 | MILLENNIUM MANAGEMENT LLC | 102K | $1.4M | +17.3% | 0.547% | 0.00% |
| 12 | 1776 Wealth LLC | 72K | $975K | 0.0% | 0.387% | 0.38% |
| 13 | GOLDMAN SACHS GROUP INC | 72K | $964K | -20.0% | 0.383% | 0.00% |
| 14 | INDEPENDENT FINANCIAL GROUP, LLC | 48K | $730K | β | 0.256% | 0.00% |
| 15 | NORTHERN TRUST CORP | 50K | $671K | -5.1% | 0.266% | 0.00% |
| 16 | LPL Financial LLC | 46K | $613K | +2.2% | 0.244% | 0.00% |
| 17 | VANGUARD FIDUCIARY TRUST CO | 41K | $546K | β | 0.217% | 0.00% |
| 18 | VANGUARD PORTFOLIO MANAGEMENT LLC | 39K | $522K | β | 0.207% | 0.00% |
| 19 | Morey & Quinn Wealth Partners, LLC | 38K | $510K | 0.0% | 0.203% | 0.36% |
| 20 | JACOBS LEVY EQUITY MANAGEMENT, INC | 37K | $498K | β | 0.198% | 0.00% |
| 21 | Cetera Investment Advisers | 37K | $492K | +83.2% | 0.196% | 0.00% |
| 22 | HighTower Advisors, LLC | 28K | $373K | +12.3% | 0.148% | 0.00% |
| 23 | BANK OF AMERICA CORP /DE/ | 27K | $362K | -6.8% | 0.144% | 0.00% |
| 24 | Russell Investments Group, Ltd. | 23K | $312K | +3.9% | 0.124% | 0.00% |
| 25 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 20K | $272K | -15.7% | 0.108% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in NREF β a direct measure of their conviction.
Filings activity in NREF during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new NREF position in Q1 2026
Institutions that fully closed their NREF position in Q1 2026
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 83 | +9.2% | 56.61% | 2.67 pp | $168M | 4.5% |
| Q4 2025 | 76 | +5.6% | 59.28% | +3.72 pp | $176M | +6.7% |
| Q3 2025 | 72 | 4.0% | 55.56% | +2.17 pp | $165M | +4.1% |
| Q2 2025 | 75 | +1.4% | 53.39% | 5.57 pp | $158M | 9.4% |
| Q1 2025 | 74 | 1.3% | 58.96% | 1.46 pp | $175M | 2.4% |
| Q4 2024 | 75 | +10% | 60.42% | +0.35 pp | $179M | +0.6% |
| Q3 2024 | 68 | +3.0% | 60.07% | +6.86 pp | $178M | +13% |
| Q2 2024 | 66 | β | 53.21% | β | $158M | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying NREF stock.
Based on Q1 2026 13F filings, institutional ownership of NexPoint Real Estate Finance, Inc. stands at 56.6%, held across 83 reporting institutions.
HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. is the largest reported institutional holder of NREF, with approximately 9,439,635 shares worth $0.13B as of Q1 2026.
Yes β 1 widely-followed marquee investor appear among the top 25 institutional holders of NREF, including MILLENNIUM MANAGEMENT LLC.
Our composite Smart Money Score for NREF is 43 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
17 institutions opened new positions in NREF during Q1 2026, while 10 fully exited. 16 added to existing positions and 48 trimmed.
NREF institutional ownership fell by 2.67 percentage points quarter-over-quarter, with a net change of +7 holders.
The top 10 institutions account for 92.8% of all reported 13F value in NREF, and the top 25 account for 98.3%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
NexPoint Real Estate Finance, Inc. (NREF) Institutional Ownership