| Filer | Ownership | Change % | Holdings Value | Net Change | Nb Shares | Change % | Reporting Name | Report Period |
|---|---|---|---|---|---|---|---|---|
| VANGUARD GROUP INC | 14% | $1,039,823,750 | 26,238,298 | The Vanguard Group | 31 Dec 2025 | |||
| FMR LLC | 10% | +24% | $787,077,774 | +$140,854,150 | 19,276,948 | +22% | FMR LLC | 30 May 2025 |
| STATE STREET CORP | 6% | $463,595,154 | 11,449,621 | STATE STREET CORPORATION | 31 Dec 2025 | |||
| VICTORY CAPITAL MANAGEMENT INC | 5.2% | +4.8% | $415,247,192 | +$20,732,527 | 9,754,456 | +5.3% | Victory Capital Management, Inc. | 30 Sep 2025 |
As of 31 Dec 2025, 512 institutional investors reported holding 174,479,812 shares of NNN REIT, INC. - COMMON STOCK (NNN). This represents 91% of the company’s total 190,827,017 outstanding shares.
The largest institutional shareholders of NNN REIT, INC. - COMMON STOCK (NNN) together control 73% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.
| Institution | Ownership % | Shares Held | Share Change % | Portfolio % | Holdings Value |
|---|---|---|---|---|---|
| VANGUARD GROUP INC | 14% | 26,238,298 | -0.32% | 0.02% | $1,039,823,749 |
| BlackRock, Inc. | 13% | 25,391,988 | +2% | 0.02% | $1,006,284,491 |
| FMR LLC | 11% | 20,209,835 | -2.9% | 0.04% | $800,915,743 |
| STATE STREET CORP | 6% | 11,449,621 | -4.8% | 0.02% | $453,748,480 |
| VICTORY CAPITAL MANAGEMENT INC | 5% | 9,494,190 | -3.9% | 0.21% | $376,254,750 |
| GEODE CAPITAL MANAGEMENT, LLC | 2.2% | 4,167,840 | +9.1% | 0.01% | $165,200,263 |
| RUSH ISLAND MANAGEMENT, LP | 2% | 3,833,086 | +25% | 9.5% | $151,905,198 |
| AQR CAPITAL MANAGEMENT LLC | 1.9% | 3,692,783 | +13% | 0.08% | $146,344,999 |
| JPMORGAN CHASE & CO | 1.8% | 3,362,208 | +19% | 0.01% | $133,244,310 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 1.7% | 3,334,857 | +5.1% | 0.04% | $132,160,383 |
| FEDERATED HERMES, INC. | 1.6% | 3,036,523 | +2.4% | 0.2% | $120,337,407 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 1.5% | 2,847,591 | +4.2% | 0.02% | $112,850,031 |
| DIMENSIONAL FUND ADVISORS LP | 1.4% | 2,744,434 | +1.2% | 0.02% | $108,763,272 |
| NORGES BANK | 1.4% | 2,726,848 | 0.01% | $108,064,986 | |
| MORGAN STANLEY | 1.3% | 2,499,243 | +4.5% | 0.01% | $99,045,073 |
| Bank of New York Mellon Corp | 0.99% | 1,893,021 | -7% | 0.01% | $75,020,442 |
| NORTHERN TRUST CORP | 0.97% | 1,857,171 | -4.6% | 0.01% | $73,599,687 |
| Mondrian Investment Partners LTD | 0.94% | 1,796,183 | -3% | 1.2% | $71,182,732 |
| EQUITY INVESTMENT CORP | 0.81% | 1,550,997 | -0.29% | 1.2% | $61,466,004 |
| Hudson Bay Capital Management LP | 0.74% | 1,415,961 | +136% | 0.32% | $56,114,534 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.62% | 1,191,557 | -4.5% | 0.01% | $47,221,403 |
| Quantinno Capital Management LP | 0.62% | 1,186,345 | -3.6% | 0.09% | $47,014,857 |
| Legal & General Group Plc | 0.59% | 1,122,516 | +5.4% | 0.01% | $44,485,310 |
| GOLDMAN SACHS GROUP INC | 0.57% | 1,091,233 | +33% | 0.01% | $43,245,564 |
| DEPRINCE RACE & ZOLLO INC | 0.54% | 1,022,580 | +23% | 0.78% | $40,524,845 |
| Period | Reported Shares, Excl. Options | Value, Excl. Options | Value Change | Price (Median) | Investors |
|---|---|---|---|---|---|
| 2025 Q4 | 174,479,812 | $6,916,888,880 | +$175,954,054 | $39.63 | 512 |
| 2025 Q3 | 169,655,629 | $7,220,542,836 | -$140,114 | $42.57 | 501 |
| 2025 Q2 | 167,873,051 | $7,247,790,593 | +$78,605,092 | $43.18 | 478 |
| 2025 Q1 | 168,145,099 | $7,168,840,233 | -$174,258,862 | $42.65 | 478 |
| 2024 Q4 | 172,201,358 | $7,030,915,918 | +$97,697,057 | $40.85 | 485 |
| 2024 Q3 | 169,057,432 | $8,196,380,050 | +$153,283,066 | $48.49 | 492 |
| 2024 Q2 | 165,481,211 | $7,053,499,443 | +$30,608,200 | $42.60 | 456 |
| 2024 Q1 | 164,939,368 | $7,042,667,284 | +$41,180,908 | $42.74 | 445 |
| 2023 Q4 | 164,021,462 | $7,069,380,830 | +$118,243,877 | $43.10 | 444 |
| 2023 Q3 | 161,641,748 | $5,714,109,748 | -$118,583,860 | $35.34 | 405 |
| 2023 Q2 | 163,068,007 | $6,977,235,507 | +$54,839,622 | $42.79 | 430 |
| 2023 Q1 | 161,901,587 | $7,146,699,720 | -$32,219,626 | $44.15 | 429 |
| 2022 Q4 | 163,014,426 | $7,458,653,280 | +$206,671,199 | $45.76 | 425 |
| 2022 Q3 | 158,988,539 | $6,337,962,829 | -$13,420,309 | $39.86 | 404 |
| 2022 Q2 | 153,594,901 | $6,609,403,356 | +$16,198,746 | $43.00 | 412 |
| 2022 Q1 | 158,999,455 | $7,160,997,641 | +$160,478,936 | $44.94 | 403 |
| 2021 Q4 | 155,293,302 | $7,463,212,754 | +$199,713,627 | $48.07 | 415 |
| 2021 Q3 | 151,163,198 | $6,531,304,787 | -$207,549,107 | $43.19 | 396 |
| 2021 Q2 | 155,953,635 | $7,311,619,259 | +$14,386,812 | $46.88 | 397 |
| 2021 Q1 | 155,947,367 | $6,873,604,513 | -$44,482,179 | $44.07 | 374 |
| 2020 Q4 | 157,111,880 | $6,428,152,514 | +$8,054,745 | $40.92 | 358 |
| 2020 Q3 | 157,396,189 | $5,433,000,235 | -$83,782,064 | $34.51 | 354 |
| 2020 Q2 | 159,574,658 | $5,651,574,405 | +$172,248,959 | $35.48 | 365 |
| 2020 Q1 | 157,825,810 | $5,080,173,079 | +$56,459,858 | $32.19 | 368 |
| 2019 Q4 | 154,469,056 | $8,281,445,752 | -$61,809,712 | $53.62 | 418 |
| 2019 Q3 | 153,459,285 | $8,654,653,264 | +$358,759,101 | $56.40 | 395 |
| 2019 Q2 | 149,056,372 | $7,900,888,777 | +$156,172,051 | $53.01 | 381 |
| 2019 Q1 | 146,587,213 | $8,119,205,517 | +$11,530,680 | $55.39 | 390 |
| 2018 Q4 | 146,291,253 | $7,095,434,467 | +$17,538,253 | $48.51 | 379 |
| 2018 Q3 | 145,882,957 | $6,538,095,910 | +$86,799,257 | $44.82 | 363 |
| 2018 Q2 | 144,039,467 | $6,332,627,608 | +$124,458,842 | $43.96 | 346 |
| 2018 Q1 | 141,202,984 | $5,545,217,310 | +$156,189,520 | $39.26 | 321 |
| 2017 Q4 | 138,567,688 | $5,975,935,600 | -$12,583,161 | $43.13 | 336 |
| 2017 Q3 | 138,682,807 | $5,777,867,671 | +$201,908,856 | $41.66 | 319 |
| 2017 Q2 | 134,097,623 | $5,242,673,246 | -$1,467,264 | $39.10 | 316 |
| 2017 Q1 | 133,956,509 | $5,842,988,274 | +$615,668,951 | $43.62 | 341 |
| 2016 Q4 | 134,885,424 | $5,961,581,825 | -$89,017,316 | $44.20 | 327 |
| 2016 Q3 | 142,052,775 | $7,219,822,203 | +$120,058,064 | $50.85 | 317 |
| 2016 Q2 | 139,712,707 | $7,226,096,461 | +$214,921,708 | $51.72 | 324 |
| 2016 Q1 | 135,196,661 | $6,240,652,360 | +$13,004,397 | $46.20 | 308 |
| 2015 Q4 | 135,148,868 | $5,412,533,929 | +$610,231,920 | $40.05 | 307 |
| 2015 Q3 | 122,643,993 | $4,448,488,086 | -$30,099,400 | $36.27 | 292 |
| 2015 Q2 | 123,574,348 | $4,326,532,775 | +$40,915,038 | $35.01 | 297 |
| 2015 Q1 | 123,273,596 | $5,051,063,557 | +$6,862,720 | $40.97 | 279 |
| 2014 Q4 | 121,055,089 | $4,766,605,785 | -$96,919,405 | $39.37 | 273 |
| 2014 Q3 | 123,450,252 | $4,267,857,875 | -$24,469,585 | $34.57 | 243 |
| 2014 Q2 | 123,955,231 | $4,609,146,674 | +$10,886,006 | $37.19 | 244 |
| 2014 Q1 | 123,857,965 | $4,250,499,970 | +$120,360,501 | $34.32 | 241 |