$NREF

$15.41 +$0.11 (0.72%) Close

$NREF Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Ownership

13F as of Q2 2026 · 18.8M shares outstanding

Who owns NREF?

By type of holder

Institutions 68.4% Insiders 7.7% Everyone else 23.9%

Concentration Top 10 holders own 171.7%

Dondero James D 53.2% · Nexpoint Asset Management, L.P. 50.1%

Institutional ownership

68.4%

+0.1 pts vs last qtr

Institutional holders

-9 vs last qtr

Net shares bought

+22.5K

by institutions in Q2 2026

New / sold out

7 / 16

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

Vanguard Capital Management LLC +36.8K
BlackRock, Inc. +30.3K

Biggest sellers in Q2 2026

Millennium Management LLC SOLD OUT −102.2K
Goldman Sachs Group Inc −20.0K

Who is planning to sell?

Notices of proposed sale, last 12 months

$181K

1 notice from 1 person

Shares covered

11.9K

0.06% of the company

Arranged in advance

of the value is under a 10b5-1 plan

Under a 10b5-1 plan No plan

Largest proposed sellers

Mitts Brian Director $181K

Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2020–FY2025

+125.3%

+17.64% a year

Each share's claim on the business

−55.6%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

$4.79M vs $22.3M

over 6 fiscal years

Diluted shares, split-adjusted

Buybacks Stock-based comp

How patient are the owners?

Institutional shares by how long they've been held

5+ years86% 3–5 years2% 1–3 years10% Under 1 year2%

Quarterly turnover

1.7%

of institutional shares changed hands

Top 10 managers, median time held

5 years

Super Investors

Investment managers reporting NREF on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
NA Nexpoint Asset Management, L.P. 13D · 30.7%	9.4M	50.08%	Unchanged	≤2021	9.8%
Shares held by quarter Peak holding9.4M (Q4'25) Change over 8 quarters+852.3K Share of the company50.080% Disclosed stake13D · 30.7% Nexpoint Asset Management, L.P.'s full portfolio →
B BlackRock, Inc.	624.3K	3.31%	+30.3K (+5.1%)	≤2021	0.0%
Shares held by quarter Peak holding662.4K (Q3'24) Change over 8 quarters−38.2K Share of the company3.310% BlackRock, Inc.'s full portfolio →

Nexpoint Asset Management, L.P.

13D · 30.7%

9.4M

% of company

50.08%

Change vs last qtr

Unchanged

Held since

≤2021

BlackRock, Inc.

624.3K

% of company

3.31%

Change vs last qtr

+30.3K (+5.1%)

Held since

≤2021

28 more super investors behind a free account

See every manager holding NexPoint Real Estate Finance, Inc., how their position has changed, and how long they've held it.

Institutional Funds

Mutual funds and ETFs reporting NREF on Form N-PORT; together they hold 27.6% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
HO Highland Opportunities and Income Fund Highland Opportunities and Income Fund	$44.5M	2.9M	15.24%	6.83%	June 30, 2026
HG Highland Global Allocation Fund Highland Global Allocation Fund	$14M	901.4K	4.78%	4.85%	June 30, 2026

Highland Opportunities and Income Fund

Position value

$44.5M

% of company

15.24%

% of the fund

6.83%

As of

June 30, 2026

Highland Global Allocation Fund

Position value

$14M

% of company

4.78%

% of the fund

4.85%

As of

June 30, 2026

23 more funds behind a free account

See every fund holding NexPoint Real Estate Finance, Inc. and how much of the fund the position is.

Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G

Holder	Shares	% of company	Change vs last qtr	8 quarters	Held since	% of their book
DJ Dondero James D 5%+ holder 13D · 54.0%	10.0M	53.24%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company53.240% Disclosed stake13D · 54.0% View the 13D/G filing →
HO Highland Opportunities & Income Fund 5%+ holder 13D · 23.5%	4.4M	23.20%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company23.200% Disclosed stake13D · 23.5% View the 13D/G filing →

Dondero James D

5%+ holder13D · 54.0%

10.0M

% of company

53.24%

Change vs last qtr

—

Held since

—

Highland Opportunities & Income Fund

5%+ holder13D · 23.5%

4.4M

% of company

23.20%

Change vs last qtr

—

Held since

—

12 more holders behind a free account

See every insider and 5%+ holder of NexPoint Real Estate Finance, Inc..

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