THE REALREAL INC REAL
COM · Common Stock · CUSIP 88339P101 · ISIN US88339P1012
American consignment company
- SectorConsumer discretionary
- IndustryRetail-Miscellaneous Retail
- HeadquartersSan Francisco, CA
- Founded2011
- Websitetherealreal.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 ($89.7k this quarter). Holder counts are more reliable. Shares outstanding: 121.7m as of 2026-07-31, 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 ≈ $11.80. Options: 10 managers hold calls ($36.3m notional), 10 hold puts ($17.4m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 164 |
| Q4 2022 | 142 |
| Q1 2023 | 143 |
| Q2 2023 | 136 |
| Q3 2023 | 141 |
| Q4 2023 | 139 |
| Q1 2024 | 155 |
| Q2 2024 | 155 |
| Q3 2024 | 157 |
| Q4 2024 | 192 |
| Q1 2025 | 211 |
| Q2 2025 | 204 |
| Q3 2025 | 223 |
| Q4 2025 | 236 |
| Q1 2026 | 248 |
| Q2 2026 | 254 |
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 | 77 | 67 |
| Q4 2024 | 104 | 81 |
| Q1 2025 | 131 | 83 |
| Q2 2025 | 102 | 105 |
| Q3 2025 | 126 | 106 |
| Q4 2025 | 128 | 108 |
| Q1 2026 | 137 | 114 |
| Q2 2026 | 152 | 111 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $46.0m | $18.9m | 0.41 |
| Q4 2025 | $70.9m | $29.2m | 0.41 |
| Q1 2026 | $54.3m | $14.9m | 0.27 |
| Q2 2026 | $36.3m | $17.4m | 0.48 |
Biggest buyers
| Divisadero Street Capital Management, LP | Added | +4.9m |
| BlackRock, Inc. | Added | +2.3m |
| Balyasny Asset Management L.P. | New | +1.2m |
| GILDER GAGNON HOWE & CO LLC | Added | +963.1k |
| AQR CAPITAL MANAGEMENT LLC | Added | +787.1k |
| AMERICAN CENTURY COMPANIES INC | Added | +724.2k |
| NOMURA HOLDINGS INC | Added | +723.1k |
| ROYCE & ASSOCIATES LP | Added | +701.0k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. | New | +673.2k |
| Woodson Capital Management, LP | Added | +630.6k |
Biggest sellers
| FMR LLC | Reduced | -5.9m |
| JANE STREET GROUP, LLC | Reduced | -2.1m |
| Qube Research & Technologies Ltd | Reduced | -1.8m |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -1.4m |
| Driehaus Capital Management LLC | Reduced | -1.2m |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -1.2m |
| Point72 Asset Management, L.P. | Reduced | -1.1m |
| Squarepoint Ops LLC | Reduced | -949.7k |
| Engineers Gate Manager LP | Reduced | -766.3k |
| MARSHALL WACE, LLP | Reduced | -653.6k |
Biggest calls
| UBS Group AG | Unchanged | $8.9m757.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $8.0m675.7k shares |
| GROUP ONE TRADING LLC | Reduced | $4.4m372.1k shares |
| JANE STREET GROUP, LLC | Added | $4.3m366.8k shares |
| PEAK6 LLC | New | $3.5m300.0k shares |
| CITADEL ADVISORS LLC | Added | $3.4m286.6k shares |
| IMC-Chicago, LLC | Reduced | $1.8m152.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.6m138.3k shares |
| Walleye Trading LLC | Added | $320.7k27.2k shares |
| Walleye Capital LLC | Reduced | $4.7k400 shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $4.5m382.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.4m286.5k shares |
| JANE STREET GROUP, LLC | Added | $2.1m179.5k shares |
| GROUP ONE TRADING LLC | Reduced | $1.9m161.3k shares |
| SIMPLEX TRADING, LLC | Added | $1.9m160.3k shares |
| Walleye Trading LLC | Added | $1.2m99.8k shares |
| Crawford Fund Management, LLC | Reduced | $924.3k78.4k shares |
| PEAK6 LLC | Unchanged | $906.7k76.9k shares |
| IMC-Chicago, LLC | Added | $458.6k38.9k shares |
| JPMORGAN CHASE & CO | New | $100.1k8.2k 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 |
|---|---|
| BlackRock, Inc. 13G · institution filed 2026-07-30 | 7.9% |
| Divisadero Street Capital Management, LP 13G · passive investor new · filed 2026-06-30 | 7.6% |
| FMR LLC 13G · institution -5.6 pts · filed 2026-07-08 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27), RILEY TIMOTHY M (4.9%, 2026-01-16), GreyLion Partners LP (0.0%, 2026-01-13)
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 | $813.7k | — |
| Q1 2025 | 0 | — | 6 | $2.7m | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 2 | $3.6m | — |
| Q4 2025 | 0 | — | 6 | $108.6m | — |
| Q1 2026 | 0 | — | 5 | $3.0m | — |
| Q2 2026 | 0 | — | 5 | $1.5m | — |
| Q3 2026 | 0 | — | 5 | $1.9m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-21 | Sahi Levesque Rati Chief Executive Officer | Sold | $927.1k84.4k shares |
| 2026-08-21 | Madan Gopal Ajay Chief Financial Officer | Sold | $399.9k36.4k shares |
| 2026-08-21 | Friang Luke Thomas Chief Product & Tech Officer | Sold | $241.9k22.0k shares |
| 2026-08-21 | Suko Todd A Chief Legal Officer and Secret | Sold | $192.8k17.6k shares |
| 2026-08-21 | Lo Steve Ming Chief Accounting Officer | Sold | $137.8k12.6k shares |
| 2026-05-21 | Sahi Levesque Rati Chief Executive Officer | Sold | $751.0k81.2k shares |
| 2026-05-21 | Madan Gopal Ajay Chief Financial Officer | Sold | $324.0k35.0k shares |
| 2026-05-21 | Friang Luke Thomas Chief Product & Tech Officer | Sold | $195.9k21.2k shares |
| 2026-05-21 | Suko Todd A Chief Legal Officer and Secret | Sold | $160.5k17.4k shares |
| 2026-05-21 | Lo Steve Ming Chief Accounting Officer | Sold | $111.7k12.1k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 11.4m $134.5m | Added +2.3m |
| Divisadero Street Capital Management, LP 2.53% of their portfolio | 9.2m $108.4m | Added +4.9m |
| FMR LLC 0.00% of their portfolio | 5.0m $59.5m | Reduced -5.9m |
| D. E. Shaw & Co., Inc. 0.04% of their portfolio | 4.9m $57.6m | Added +497.7k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 4.7m $55.6m | Added +171.2k |
| TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio | 4.0m $47.1m | Reduced -473.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 3.9m $46.4m | Reduced -112.3k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 3.7m $43.8m | Added +724.2k |
| Woodson Capital Management, LP 6.51% of their portfolio | 3.3m $38.9m | Added +630.6k |
| STATE STREET CORP 0.00% of their portfolio | 3.2m $37.3m | Added +373.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.8m $33.6m | Reduced -4.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 2.7m $32.0m | Added +510.0k |
| Nuveen, LLC 0.01% of their portfolio | 2.3m $27.7m | Added +119.5k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 2.2m $25.4m | Added +787.1k |
| AWM Investment Company, Inc. 1.85% of their portfolio | 1.8m $21.3m | Added +319.8k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 1.7m $20.4m | Reduced -101.5k |
| UBS Group AG 0.00% of their portfolio | 1.6m $18.9m | Added +195.1k |
| Kanen Wealth Management LLC 4.63% of their portfolio | 1.6m $18.9m | Added +197.5k |
| MASTERS CAPITAL MANAGEMENT LLC 2.49% of their portfolio | 1.5m $17.7m | Reduced -500.0k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 1.4m $16.1m | Reduced -1.8m |
| Crestwood Capital Management, L.P. 10.04% of their portfolio | 1.3m $15.3m | Reduced -117.7k |
| ROYCE & ASSOCIATES LP 0.12% of their portfolio | 1.3m $15.0m | Added +701.0k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 1.2m $14.7m | Added +213.2k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 1.2m $14.0m | New |
| Driehaus Capital Management LLC 0.08% of their portfolio | 1.2m $13.8m | Reduced -1.2m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.1m $12.7m | Reduced -483.0k |
| GILDER GAGNON HOWE & CO LLC 0.12% of their portfolio | 1.0m $12.0m | Added +963.1k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 971.4k $11.9m | Added +265.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 957.2k $11.3m | Added +120.5k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 956.5k $11.3m | Added +95.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 947.9k $11.2m | Reduced -1.4m |
| Atika Capital Management LLC 1.10% of their portfolio | 940.0k $11.1m | Added +488.9k |
| Squarepoint Ops LLC 0.02% of their portfolio | 833.6k $9.8m | Reduced -949.7k |
| KINGDON CAPITAL MANAGEMENT, L.L.C. 1.29% of their portfolio | 813.0k $9.6m | Added +413.0k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 804.4k $9.5m | Reduced -653.6k |
| NOMURA HOLDINGS INC 0.04% of their portfolio | 759.8k $9.0m | Added +723.1k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 751.0k $8.9m | Reduced -1.1m |
| TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio | 715.7k $8.4m | Reduced -236.7k |
| BARCLAYS PLC 0.00% of their portfolio | 713.6k $8.4m | Added +412.7k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 695.9k $8.2m | Added +33.5k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.51% of their portfolio | 673.2k $7.9m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 633.3k $7.5m | Reduced -135.7k |
| JUPITER ASSET MANAGEMENT LTD 0.04% of their portfolio | 607.1k $7.2m | Reduced -356.5k |
| MORGAN STANLEY 0.00% of their portfolio | 594.1k $7.0m | Reduced -97.5k |
| Interval Partners, LP 0.22% of their portfolio | 590.2k $7.0m | Reduced -327.8k |
| Walleye Capital LLC 0.03% of their portfolio | 587.7k $6.9m | Added +496.9k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 581.9k $6.9m | Added +337.2k |
| Capricorn Fund Managers Ltd 0.55% of their portfolio | 581.6k $6.9m | Added +32.8k |
| Shay Capital LLC 0.73% of their portfolio | 563.2k $6.6m | Added +294.3k |
| POLEN CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 496.6k $5.9m | Added +274.7k |
| Hillsdale Investment Management Inc. 0.13% of their portfolio | 495.8k $5.8m | Added +60.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 483.9k $5.7m | Reduced -1.2m |
| Portolan Capital Management, LLC 0.21% of their portfolio | 478.2k $5.6m | New |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 459.9k $5.4m | Added +379.0k |
| FEDERATED HERMES, INC. 0.01% of their portfolio | 450.8k $5.3m | Reduced -854 |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 423.3k $5.0m | Reduced -2.1m |
| PANAGORA ASSET MANAGEMENT INC 0.01% of their portfolio | 407.4k $4.8m | Added +69.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 406.0k $4.8m | Reduced -74.2k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 404.2k $4.8m | Added +387.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 383.7k $4.5m | Added +42.4k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 354.5k $4.2m | Reduced -67.5k |
| MYDA Advisors LLC 0.97% of their portfolio | 340.0k $4.0m | Unchanged |
| Man Group plc 0.01% of their portfolio | 328.9k $3.9m | Added +76.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 299.0k $3.5m | Reduced -49.7k |
| Allspring Global Investments Holdings, LLC 0.01% of their portfolio | 289.7k $3.5m | Added +54.1k |
| RBF Capital, LLC 0.13% of their portfolio | 255.0k $3.0m | Reduced -15.0k |
| FIFTH THIRD BANCORP 0.00% of their portfolio | 251.1k $3.0m | Added +1.1k |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 244.3k $2.9m | Added +149.2k |
| ESSEX INVESTMENT MANAGEMENT CO LLC 0.36% of their portfolio | 230.7k $2.7m | New |
| Archon Capital Management LLC 1.10% of their portfolio | 229.1k $2.7m | Reduced -100.0k |
| Swiss National Bank 0.00% of their portfolio | 220.8k $2.6m | Added +27.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 198.2k $2.3m | Reduced -36.7k |
| Blueshift Asset Management, LLC 0.53% of their portfolio | 195.4k $2.3m | New |
| ZAZOVE ASSOCIATES LLC 0.18% of their portfolio | 185.0k $2.2m | Reduced -70.0k |
| ALGERT GLOBAL LLC 0.02% of their portfolio | 175.5k $2.1m | Added +40.2k |
| CITIGROUP INC 0.00% of their portfolio | 169.2k $2.0m | Added +40.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 160.7k $1.9m | Added +38.7k |
| MACKENZIE FINANCIAL CORP 0.00% of their portfolio | 157.0k $1.9m | Added +51.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 145.3k $1.7m | Added +18.9k |
| Fund 1 Investments, LLC 0.30% of their portfolio | 142.6k $1.7m | New |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 140.0k $1.7m | New |
| PDT Partners, LLC 0.08% of their portfolio | 133.5k $1.6m | Unchanged |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 133.1k $1.6m | Reduced -3.4k |
| Manatuck Hill Partners, LLC 0.52% of their portfolio | 132.8k $1.6m | Reduced -120.0k |
| Quantum Private Wealth, LLC 0.39% of their portfolio | 128.5k $1.5m | Reduced -5.0k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 127.2k $1.5m | Reduced -54.8k |
| Mariner, LLC 0.00% of their portfolio | 123.4k $1.5m | Added +61.8k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 122.3k $1.4m | Added +19.4k |
| Verition Fund Management LLC 0.01% of their portfolio | 120.0k $1.4m | Added +108.3k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio | 118.7k $1.4m | Reduced -165.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 117.6k $1.4m | Reduced -251.2k |
| Aquatic Capital Management LLC 0.05% of their portfolio | 116.5k $1.4m | New |
| Diametric Capital, LP 0.14% of their portfolio | 115.6k $1.4m | Added +66.7k |
| ExodusPoint Capital Management, LP 0.01% of their portfolio | 109.9k $1.3m | Reduced -71.6k |
| ANGELES WEALTH MANAGEMENT, LLC 0.06% of their portfolio | 109.4k $1.3m | New |
| INDEPENDENT FINANCIAL GROUP, LLC 0.02% of their portfolio | 108.5k $1.3m | Added +11.1k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 101.0k $916.9k | Unchanged |
| IEQ CAPITAL, LLC 0.01% of their portfolio | 100.9k $1.2m | Added +17.7k |
| Atom Investors LP 0.11% of their portfolio | 100.7k $1.2m | New |
| Jump Financial, LLC 0.01% of their portfolio | 99.3k $1.2m | Reduced -306.0k |