NNN REIT INC NNN
COM · REIT · CUSIP 637417106
(ticker symbol: NNN) a real estate investment trust in the United States
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersOrlando, FL
- Founded1984
- Websitennnreit.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($15.4m this quarter). Holder counts are more reliable. Shares outstanding: 191.9m as of 2026-07-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $46.57. Options: 8 managers hold calls ($17.0m notional), 6 hold puts ($5.0m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 413 |
| Q4 2022 | 429 |
| Q1 2023 | 432 |
| Q2 2023 | 434 |
| Q3 2023 | 408 |
| Q4 2023 | 444 |
| Q1 2024 | 447 |
| Q2 2024 | 457 |
| Q3 2024 | 498 |
| Q4 2024 | 489 |
| Q1 2025 | 482 |
| Q2 2025 | 483 |
| Q3 2025 | 506 |
| Q4 2025 | 521 |
| Q1 2026 | 543 |
| Q2 2026 | 601 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 237 | 205 |
| Q4 2024 | 225 | 233 |
| Q1 2025 | 246 | 224 |
| Q2 2025 | 251 | 208 |
| Q3 2025 | 272 | 181 |
| Q4 2025 | 238 | 238 |
| Q1 2026 | 303 | 186 |
| Q2 2026 | 347 | 198 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $9.5m | $2.9m | 0.31 |
| Q4 2025 | $10.3m | $7.9m | 0.76 |
| Q1 2026 | $12.9m | $6.0m | 0.46 |
| Q2 2026 | $17.0m | $5.0m | 0.29 |
Biggest buyers
| AQR CAPITAL MANAGEMENT LLC | Added | +5.9m |
| COHEN & STEERS, INC. | Added | +4.7m |
| Daiwa Securities Group Inc. | Added | +1.9m |
| Jefferies Financial Group Inc. | Added | +889.3k |
| MORGAN STANLEY | Added | +885.6k |
| Quantinno Capital Management LP | Added | +819.1k |
| BANK OF AMERICA CORP /DE/ | Added | +802.1k |
| BlackRock, Inc. | Added | +780.0k |
| Treasurer of the State of North Carolina | Added | +612.9k |
| HRT FINANCIAL LP | Added | +469.6k |
Biggest sellers
| FMR LLC | Reduced | -7.8m |
| VICTORY CAPITAL MANAGEMENT INC | Reduced | -2.3m |
| Mondrian Investment Partners LTD | Reduced | -642.6k |
| RUSH ISLAND MANAGEMENT, LP | Reduced | -625.2k |
| DEPRINCE RACE & ZOLLO INC | Sold out | -575.2k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -416.2k |
| Artisan Partners Limited Partnership | Reduced | -327.9k |
| D. E. Shaw & Co., Inc. | Reduced | -311.6k |
| SG Americas Securities, LLC | Reduced | -255.3k |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC | Reduced | -228.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $4.7m100.8k shares |
| IMC-Chicago, LLC | Added | $2.9m62.3k shares |
| CITADEL ADVISORS LLC | Added | $2.6m55.4k shares |
| Twin Tree Management, LP | Added | $2.4m51.4k shares |
| D. E. Shaw & Co., Inc. | Added | $2.1m45.5k shares |
| JANE STREET GROUP, LLC | Reduced | $1.8m39.6k shares |
| GROUP ONE TRADING LLC | Added | $414.1k8.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $18.6k400 shares |
Biggest puts
| Walleye Trading LLC | Added | $1.9m41.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.1m24.6k shares |
| CITADEL ADVISORS LLC | Unchanged | $707.3k15.2k shares |
| IMC-Chicago, LLC | Added | $604.9k13.0k shares |
| JANE STREET GROUP, LLC | Reduced | $418.8k9.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $162.9k3.5k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 8.7% |
| FMR LLC 13G · institution -4.3 pts · filed 2026-08-06 | 6.0% |
| STATE STREET CORP 13G · institution new · filed 2026-02-09 | 6.0% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.3% |
| AQR CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-08-13 | 5.1% |
Fell to 5% or below in the last year: VICTORY CAPITAL MANAGEMENT INC (4.4%, 2026-05-12), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 1 | $42.5k | — |
| Q1 2025 | 0 | — | 1 | $2.4m | — |
| Q2 2025 | 0 | — | 1 | $203.9k | — |
| Q3 2025 | 0 | — | 1 | $422.0k | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 3 | $1.9m | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.02% of their portfolio | 26.7m $1.2bn | Added +780.0k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.04% of their portfolio | 16.8m $780.7m | Added +169.4k |
| FMR LLC 0.02% of their portfolio | 11.4m $532.2m | Reduced -7.8m |
| STATE STREET CORP 0.02% of their portfolio | 11.3m $528.0m | Added +14.8k |
| AQR CAPITAL MANAGEMENT LLC 0.16% of their portfolio | 9.8m $454.7m | Added +5.9m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 8.6m $398.2m | Added +84.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.16% of their portfolio | 6.1m $281.6m | Reduced -2.3m |
| COHEN & STEERS, INC. 0.37% of their portfolio | 5.0m $231.7m | Added +4.7m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.4m $205.0m | Added +53.9k |
| MORGAN STANLEY 0.01% of their portfolio | 3.8m $177.3m | Added +885.6k |
| FEDERATED HERMES, INC. 0.21% of their portfolio | 3.1m $145.5m | Added +96.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 3.1m $145.0m | Added +138.2k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 2.8m $131.2m | Added +2.4k |
| Quantinno Capital Management LP 0.14% of their portfolio | 2.6m $119.9m | Added +819.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.04% of their portfolio | 2.6m $128.7m | Reduced -416.2k |
| NORGES BANK 0.01% of their portfolio | 2.5m $117.4m | Not comparable |
| RUSH ISLAND MANAGEMENT, LP 7.63% of their portfolio | 2.5m $115.1m | Reduced -625.2k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.4m $114.7m | Added +156.9k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 2.0m $94.1m | Added +13.0k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.0m $91.8m | Added +51.0k |
| Daiwa Securities Group Inc. 0.20% of their portfolio | 1.9m $89.8m | Added +1.9m |
| TWO SIGMA INVESTMENTS, LP 0.07% of their portfolio | 1.9m $89.7m | Added +80.0k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.9m $87.7m | Added +802.1k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.8m $85.4m | Reduced -63.8k |
| EQUITY INVESTMENT CORP 1.48% of their portfolio | 1.7m $77.6m | Added +4.6k |
| Jefferies Financial Group Inc. 0.61% of their portfolio | 1.4m $66.6m | Added +889.3k |
| PRUDENTIAL FINANCIAL INC 0.07% of their portfolio | 1.4m $63.5m | Added +4.0k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 1.2m $55.9m | Added +22.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.2m $54.9m | Reduced -17.9k |
| UBS Group AG 0.01% of their portfolio | 1.2m $54.8m | Added +144.9k |
| Mondrian Investment Partners LTD 0.81% of their portfolio | 1.1m $52.3m | Reduced -642.6k |
| Hudson Bay Capital Management LP 0.24% of their portfolio | 1.1m $51.3m | Reduced -8.2k |
| Legal & General Group Plc 0.01% of their portfolio | 968.8k $45.1m | Reduced -73.1k |
| Epoch Investment Partners, Inc. 0.26% of their portfolio | 967.9k $45.0m | Reduced -52.3k |
| Treasurer of the State of North Carolina 0.10% of their portfolio | 848.3k $39.5m | Added +612.9k |
| Allianz Asset Management GmbH 0.04% of their portfolio | 843.2k $36.5m | Reduced -15.7k |
| Clearbridge Investments, LLC 0.03% of their portfolio | 812.5k $37.8m | Reduced -16.5k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 761.0k $35.4m | Added +45.3k |
| Invesco Ltd. 0.00% of their portfolio | 725.3k $33.7m | Reduced -11.9k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 689.2k $32.2m | Added +171.7k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 680.7k $31.7m | Added +57.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 657.6k $30.6m | Reduced -174.9k |
| IEQ CAPITAL, LLC 0.14% of their portfolio | 632.3k $29.4m | Added +242.9k |
| Arbejdsmarkedets Tillaegspension 0.64% of their portfolio | 628.2k $29.2m | Added +30.1k |
| Creative Planning 0.02% of their portfolio | 618.9k $28.8m | Added +166.3k |
| ProShare Advisors LLC 0.04% of their portfolio | 600.4k $27.9m | Reduced -6.2k |
| Artisan Partners Limited Partnership 0.04% of their portfolio | 589.2k $27.4m | Reduced -327.9k |
| Fisher Asset Management, LLC 0.01% of their portfolio | 574.7k $26.7m | Added +393.2k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 570.6k $26.6m | Reduced -17.0k |
| HRT FINANCIAL LP 0.06% of their portfolio | 549.5k $25.6m | Added +469.6k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 530.9k $24.7m | Added +5.4k |
| AGF MANAGEMENT LTD 0.10% of their portfolio | 529.1k $24.6m | Reduced -7.5k |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC 0.85% of their portfolio | 512.6k $23.9m | Reduced -228.4k |
| ALGERT GLOBAL LLC 0.28% of their portfolio | 506.4k $23.6m | Added +241.3k |
| APG Asset Management US Inc. 0.16% of their portfolio | 500.4k $23.3m | Unchanged |
| Sound Income Strategies, LLC 1.03% of their portfolio | 492.9k $22.9m | Added +16.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 474.5k $22.1m | Added +6.6k |
| Verity & Verity, LLC 1.52% of their portfolio | 473.8k $22.0m | Added +2.3k |
| STIFEL FINANCIAL CORP 0.02% of their portfolio | 471.0k $21.9m | Added +12.9k |
| Gotham Asset Management, LLC 0.05% of their portfolio | 469.2k $21.8m | Reduced -215.0k |
| RENAISSANCE TECHNOLOGIES LLC 0.03% of their portfolio | 441.8k $20.6m | Added +329.6k |
| CANADA LIFE ASSURANCE Co 0.03% of their portfolio | 440.9k $20.5m | Added +7.1k |
| Corient Private Wealth LP 0.03% of their portfolio | 434.7k $20.2m | Added +114.3k |
| SNYDER CAPITAL MANAGEMENT L P 0.35% of their portfolio | 431.3k $20.1m | Reduced -12.9k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 429.0k $20.0m | Added +318.2k |
| Aberdeen Group plc 0.03% of their portfolio | 404.1k $18.8m | Reduced -137.0k |
| Mariner, LLC 0.02% of their portfolio | 394.4k $18.4m | Added +235.3k |
| Swiss National Bank 0.01% of their portfolio | 381.8k $17.8m | Added +6.1k |
| TECTONIC ADVISORS LLC 0.85% of their portfolio | 379.6k $17.7m | Added +21.2k |
| Jain Global LLC 0.20% of their portfolio | 364.4k $17.0m | Added +43.5k |
| Gerald Baker Financial Group LLC 4.59% of their portfolio | 346.5k $16.1m | Added +1.2k |
| Cerity Partners LLC 0.02% of their portfolio | 342.5k $15.9m | Added +193.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 340.0k $15.8m | Added +331.9k |
| California Public Employees Retirement System 0.01% of their portfolio | 339.1k $15.8m | Reduced -111.7k |
| Asset Management One Co., Ltd. 0.04% of their portfolio | 325.0k $15.1m | Added +16.3k |
| Nuveen, LLC 0.00% of their portfolio | 317.3k $14.8m | Reduced -9.1k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 315.4k $14.7m | Reduced -69.6k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.02% of their portfolio | 311.5k $14.5m | Added +293.6k |
| NOMURA ASSET MANAGEMENT CO LTD 0.03% of their portfolio | 308.2k $14.3m | Added +12.9k |
| Gillson Capital LP 0.80% of their portfolio | 290.6k $13.5m | New |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 287.4k $13.4m | Reduced -3.6k |
| CITIGROUP INC 0.01% of their portfolio | 287.0k $13.4m | Reduced -67.1k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.04% of their portfolio | 276.9k $12.9m | Reduced -2.2k |
| Caisse de depot et placement du Quebec 0.02% of their portfolio | 275.2k $12.8m | Added +266.4k |
| Susquehanna Portfolio Strategies, LLC 0.20% of their portfolio | 275.1k $12.8m | Added +36.2k |
| M&G PLC 0.06% of their portfolio | 271.7k $12.8m | Added +7.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 271.1k $11.4m | Reduced -30.2k |
| DANSKE BANK A/S 0.02% of their portfolio | 266.2k $12.4m | Reduced -11.8k |
| CAPTRUST FINANCIAL ADVISORS 0.02% of their portfolio | 258.9k $12.0m | Added +61.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 258.8k $12.0m | Added +2.5k |
| Schonfeld Strategic Advisors LLC 0.06% of their portfolio | 246.5k $11.5m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 241.8k $11.3m | Added +15.4k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 240.0k $11.2m | Added +27.3k |
| Amundi 0.00% of their portfolio | 227.2k $10.6m | Added +117.3k |
| Verition Fund Management LLC 0.07% of their portfolio | 227.0k $10.6m | New |
| LPL Financial LLC 0.00% of their portfolio | 226.9k $10.6m | Reduced -4.2k |
| Edgestream Partners, L.P. 0.31% of their portfolio | 222.4k $10.3m | Added +55.6k |
| MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio | 221.7k $10.3m | Added +128.0k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio | 221.6k $9.2m | Added +132.5k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 221.1k $10.3m | Reduced -4.7k |