NNNNYSEReal Estate Investment TrustsFiscal year ends December 31
NNN REIT, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$40.86−0.68 (-1.64%)
Close on Oct 19, 2026
- Market cap
- $7.75B
- P/E (TTM)
- 19.7
- Dividend yield
- 5.78%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
99.4%
191M of 192M shares
Institutional holders
601
100 new, 34 sold out
Net institutional buying
13M
In Q2 2026
Insider trades, 12 months
0 buys · 3 sales
Net sold $1.94M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| AQR Capital Management, LLC | 9,773,107 | 5.14% | 13G (passive) | Jun 30, 2026 |
| BlackRock, Inc. | 21,246,504 | 11.60% | 13G (passive) amendment | Dec 31, 2023 |
| Vanguard Portfolio Management | 16,631,810 | 8.74% | 13G (passive) | Mar 31, 2026 |
| State Street Corporation | 11,449,621 | 6.00% | 13G (passive) | Dec 31, 2025 |
| FMR LLC | 11,436,861 | 6.00% | 13G (passive) amendment | Jun 30, 2026 |
| Vanguard Capital Management | 10,047,239 | 5.28% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of NNN | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 26,708,613 | 13.92% | $1.24B | +780,005 | 0.02% |
| Vanguard Portfolio Management LLC | 16,778,215 | 8.74% | $780.69M | +169,434 | 0.04% |
| FMR LLC | 11,436,861 | 5.96% | $532.16M | −7,799,724 | 0.02% |
| State Street Corp | 11,346,545 | 5.91% | $527.95M | +14,751 | 0.02% |
| Aqr Capital Management LLC | 9,773,107 | 5.09% | $454.74M | +5,915,740 | 0.16% |
| Vanguard Capital Management LLC | 8,557,962 | 4.46% | $398.20M | +84,053 | 0.01% |
| Victory Capital Management Inc | 6,051,488 | 3.15% | $281.58M | −2,267,194 | 0.16% |
| Cohen & Steers, Inc. | 4,979,814 | 2.59% | $231.71K | +4,734,411 | 0.37% |
| Geode Capital Management, LLC | 4,403,909 | 2.29% | $204.96M | +53,850 | 0.01% |
| Morgan Stanley | 3,810,780 | 1.99% | $177.32M | +885,619 | 0.01% |
| Federated Hermes, Inc. | 3,127,776 | 1.63% | $145.54M | +96,121 | 0.21% |
| Charles Schwab Investment Management Inc | 3,115,354 | 1.62% | $144.96M | +138,202 | 0.02% |
| Dimensional Fund Advisors LP | 2,818,943 | 1.47% | $131.17M | +2,415 | 0.02% |
| Quantinno Capital Management LP | 2,576,763 | 1.34% | $119.90M | +819,147 | 0.14% |
| Massachusetts Financial Services Co /Ma/ | 2,558,445 | 1.33% | $128.69M | −416,250 | 0.04% |
| Norges Bank | 2,523,970 | 1.32% | $117.44M | New | 0.01% |
| Rush Island Management, LP | 2,474,091 | 1.29% | $115.12M | −625,193 | 7.63% |
| JPMorgan Chase & Co | 2,414,562 | 1.26% | $114.70M | +156,905 | 0.01% |
| Goldman Sachs Group Inc | 2,023,201 | 1.05% | $94.14M | +13,034 | 0.01% |
| Northern Trust Corp | 1,972,015 | 1.03% | $91.76M | +50,996 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 601 | 191M | 99.4% | 100 / 254 | 164 / 34 | 29M | 16M |
| Q1 2026 | 543 | 178M | 93.0% | 78 / 238 | 139 / 48 | 41M | 12M |
| Q4 2025 | 521 | 176M | 91.6% | 75 / 184 | 185 / 53 | 14M | 11M |
| Q3 2025 | 506 | 173M | 90.1% | 74 / 203 | 138 / 44 | 17M | 13M |
| Q2 2025 | 482 | 168M | 87.7% | 58 / 198 | 156 / 52 | 10M | 11M |
| Q1 2025 | 481 | 171M | 89.3% | 62 / 187 | 161 / 63 | 13M | 13M |
| Q4 2024 | 488 | 172M | 89.8% | 60 / 190 | 168 / 65 | 14M | 13M |
| Q3 2024 | 498 | 172M | 89.7% | 75 / 171 | 175 / 31 | 32M | 8M |
| Q2 2024 | 457 | 169M | 88.0% | 50 / 155 | 176 / 36 | 9M | 13M |
| Q1 2024 | 447 | 173M | 90.3% | 67 / 175 | 136 / 58 | 18M | 15M |
| Q4 2023 | 444 | 170M | 88.7% | 91 / 144 | 153 / 49 | 22M | 13M |
| Q3 2023 | 408 | 162M | 84.2% | 43 / 175 | 127 / 64 | 17M | 18M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of NNN | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Real Estate Index Fund | 7,237,586 | 3.77% | $343.93M | 0.47% | Jul 31, 2026 |
| iShares Core S&P Mid-Cap ETF | 6,510,651 | 3.39% | $302.94M | 0.24% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 6,038,758 | 3.15% | $280.98M | 0.01% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 4,360,953 | 2.27% | $202.92M | 0.11% | Jun 30, 2026 |
| Victory Sycamore Established Value Fund | 4,259,000 | 2.22% | $198.17M | 1.28% | Jun 30, 2026 |
| Vanguard Small-Cap Value Index Fund | 2,763,883 | 1.44% | $128.60M | 0.19% | Jun 30, 2026 |
| Federated Hermes Strategic Value Dividend Fund | 2,681,914 | 1.40% | $127.44M | 1.28% | Jul 31, 2026 |
| Cohen & Steers Real Estate Securities Fund | 2,473,848 | 1.29% | $115.11M | 1.20% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 2,179,339 | 1.14% | $101.40M | 0.10% | Jun 30, 2026 |
| Fidelity Real Estate Investment Portfolio | 1,850,989 | 0.96% | $87.96M | 2.58% | Jul 31, 2026 |
| State Street(R) SPDR(R) S&P(R) Dividend ETF | 1,849,372 | 0.96% | $86.05M | 0.40% | Jun 30, 2026 |
| Fidelity SAI Real Estate Fund | 1,733,721 | 0.90% | $82.39M | 2.58% | Jul 31, 2026 |
| Fidelity Mid-Cap Stock Fund | 1,418,445 | 0.74% | $67.40M | 0.75% | Jul 31, 2026 |
| Schwab U.S. REIT ETF | 1,343,677 | 0.70% | $59.81M | 0.60% | May 31, 2026 |
| Vanguard Real Estate Ii Index Fund | 1,270,203 | 0.66% | $60.36M | 0.55% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Stephen A. Horn JR | President & CEO | 822,711 | 0.43% | Mar 9, 2026 |
| Jonathan Adamo | EVP Chief Portfolio Operations | 126,358 | 0.07% | Mar 9, 2026 |
| Michelle Lynn Miller | EVP,Chief Acctg & Tech Officer | 93,817 | 0.05% | Feb 23, 2026 |
| Joshua Phillip Lewis | EVP, CIO | 60,298 | 0.03% | Feb 18, 2026 |
| Gina M. Steffens | EVP, General Counsel | 64,963 | 0.03% | Feb 18, 2026 |
| Vincent H. Chao | EVP, Chief Financial Officer | 115,280 | 0.06% | Feb 18, 2026 |
| Kevin B. Habicht | EVP, Chief Financial Officer | 384,945 | 0.20% | Feb 19, 2025 |
| Pamela K.M. Beall | Director | 37,370 | 0.02% | Aug 3, 2026 |
| Edward J. Fritsch | Director | 65,614 | 0.03% | Aug 3, 2026 |
| Betsy D. Holden | Director | 36,003 | 0.02% | Aug 3, 2026 |
| David M. Fick | Director | 72,680 | 0.04% | Aug 3, 2026 |
| Elizabeth Gulacsy | Director | 17,772 | 0.01% | Aug 3, 2026 |
| Kamau Omari Witherspoon | Director | 24,049 | 0.01% | Aug 3, 2026 |
| Steven D. Cosler | Director | 67,123 | 0.03% | Feb 2, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Kamau Omari Witherspoon Director | Jul 31, 2026 | Award | +1,353 | $48.14 | $65.13K | 24,049 |
| Elizabeth Gulacsy Director | Jul 31, 2026 | Award | +1,039 | $48.14 | $50.02K | 17,772 |
| Pamela K.M. Beall Director | Jul 31, 2026 | Award | +831 | $48.14 | $40.00K | 37,370 |
| Edward J. Fritsch Director | Jul 31, 2026 | Award | +1,118 | $48.14 | $53.82K | 65,614 |
| Betsy D. Holden Director | Jul 31, 2026 | Award | +1,217 | $48.14 | $58.59K | 36,003 |
| David M. Fick Director | Jul 31, 2026 | Award | +1,715 | $48.14 | $82.56K | 72,680 |
| Betsy D. Holden Director | Apr 30, 2026 | Award | +1,243 | $43.52 | $54.10K | 34,786 |
| Pamela K.M. Beall Director | Apr 30, 2026 | Award | +833 | $43.52 | $36.25K | 36,539 |
| Edward J. Fritsch Director | Apr 30, 2026 | Award | +833 | $43.52 | $36.25K | 64,496 |
| Elizabeth Gulacsy Director | Apr 30, 2026 | Award | +1,049 | $43.52 | $45.65K | 16,733 |
| Kamau Omari Witherspoon Director | Apr 30, 2026 | Award | +1,391 | $43.52 | $60.54K | 22,696 |
| David M. Fick Director | Apr 30, 2026 | Award | +1,787 | $43.52 | $77.77K | 70,965 |
| Stephen A. Horn JR President & CEO | Mar 9, 2026 | Sale | −33,192 | $44.98 | $1.49M | 822,711 |
| Jonathan Adamo EVP Chief Portfolio Operations | Mar 6, 2026 | Sale | −6,000 | $44.99 | $269.94K | 126,358 |
| Michelle Lynn Miller EVP,Chief Acctg & Tech Officer | Feb 20, 2026 | Sale | −4,000 | $44.03 | $176.12K | 93,817 |
| Gina M. Steffens EVP, General Counsel | Feb 17, 2026 | Award | +5,320 | $44.34 | $235.89K | 64,963 |
| Gina M. Steffens EVP, General Counsel | Feb 17, 2026 | Award | +24,828 | $44.34 | $1.10M | 89,791 |
| Jonathan Adamo EVP Chief Portfolio Operations | Feb 17, 2026 | Award | +30,382 | $44.34 | $1.35M | 132,358 |
| Jonathan Adamo EVP Chief Portfolio Operations | Feb 17, 2026 | Award | +6,510 | $44.34 | $288.65K | 101,976 |
| Michelle Lynn Miller EVP,Chief Acctg & Tech Officer | Feb 17, 2026 | Returned to company | −6,981 | – | – | 97,817 |
| Michelle Lynn Miller EVP,Chief Acctg & Tech Officer | Feb 17, 2026 | Award | +4,067 | $44.34 | $180.33K | 85,817 |
| Michelle Lynn Miller EVP,Chief Acctg & Tech Officer | Feb 17, 2026 | Award | +18,981 | $44.34 | $841.62K | 104,798 |
| Joshua Phillip Lewis EVP, CIO | Feb 17, 2026 | Award | +4,648 | $44.34 | $206.09K | 60,298 |
| Joshua Phillip Lewis EVP, CIO | Feb 17, 2026 | Award | +21,692 | $44.34 | $961.82K | 81,990 |
| Stephen A. Horn JR President & CEO | Feb 17, 2026 | Award | +37,803 | $44.34 | $1.68M | 749,911 |
| Stephen A. Horn JR President & CEO | Feb 17, 2026 | Returned to company | −70,421 | – | – | 855,903 |
| Stephen A. Horn JR President & CEO | Feb 17, 2026 | Award | +176,413 | $44.34 | $7.82M | 926,324 |
| Vincent H. Chao EVP, Chief Financial Officer | Feb 17, 2026 | Award | +44,920 | $44.34 | $1.99M | 115,280 |
| Vincent H. Chao EVP, Chief Financial Officer | Feb 17, 2026 | Award | +9,626 | $44.34 | $426.82K | 70,360 |
| Pamela K.M. Beall Director | Jan 30, 2026 | Award | +867 | $41.82 | $36.26K | 35,706 |
| Elizabeth Gulacsy Director | Jan 30, 2026 | Award | +1,077 | $41.82 | $45.04K | 15,684 |
| Kamau Omari Witherspoon Director | Jan 30, 2026 | Award | +1,428 | $41.82 | $59.72K | 21,305 |
| David M. Fick Director | Jan 30, 2026 | Award | +1,833 | $41.82 | $76.66K | 69,178 |
| Steven D. Cosler Director | Jan 30, 2026 | Award | +1,568 | $41.82 | $65.57K | 67,123 |
| Edward J. Fritsch Director | Jan 30, 2026 | Award | +867 | $41.82 | $36.26K | 63,663 |
| Betsy D. Holden Director | Jan 30, 2026 | Award | +1,276 | $41.82 | $53.36K | 33,543 |
| Pamela K.M. Beall Director | Oct 31, 2025 | Award | +888 | $40.84 | $36.27K | 34,839 |
| Elizabeth Gulacsy Director | Oct 31, 2025 | Award | +1,087 | $40.84 | $44.39K | 14,607 |
| David M. Fick Director | Oct 31, 2025 | Award | +1,851 | $40.84 | $75.59K | 67,345 |
| Edward J. Fritsch Director | Oct 31, 2025 | Award | +888 | $40.84 | $36.27K | 62,796 |
| Steven D. Cosler Director | Oct 31, 2025 | Award | +1,583 | $40.84 | $64.65K | 65,555 |
| Kamau Omari Witherspoon Director | Oct 31, 2025 | Award | +1,472 | $40.84 | $60.12K | 19,877 |
| Betsy D. Holden Director | Oct 31, 2025 | Award | +1,288 | $40.84 | $52.60K | 32,267 |
| Michelle Lynn Miller EVP,Chief Acctg & Tech Officer | Aug 21, 2025 | Sale | −10,000 | $42.20 | $422.00K | 81,750 |
| Joshua Phillip Lewis EVP, CIO | Aug 1, 2025 | Award | +10,000 | $41.26 | $412.60K | 55,650 |
| Elizabeth Gulacsy Director | Jul 31, 2025 | Award | +1,033 | $42.10 | $43.49K | 13,520 |
| Kamau Omari Witherspoon Director | Jul 31, 2025 | Award | +1,399 | $42.10 | $58.90K | 18,405 |
| David M. Fick Director | Jul 31, 2025 | Award | +1,739 | $42.10 | $73.21K | 65,494 |
| Betsy D. Holden Director | Jul 31, 2025 | Award | +1,219 | $42.10 | $51.32K | 30,979 |
| Edward J. Fritsch Director | Jul 31, 2025 | Award | +861 | $42.10 | $36.25K | 61,908 |
| Steven D. Cosler Director | Jul 31, 2025 | Award | +1,492 | $42.10 | $62.81K | 63,972 |
| Pamela K.M. Beall Director | Jul 31, 2025 | Award | +861 | $42.10 | $36.25K | 33,951 |
| Jonathan Adamo EVP, Portfolio Operations | Jun 11, 2025 | Sale | −4,800 | $42.47 | $203.86K | 95,466 |
| Elizabeth Gulacsy Director | Apr 30, 2025 | Award | +1,036 | $41.38 | $42.87K | 12,487 |
| Pamela K.M. Beall Director | Apr 30, 2025 | Award | +876 | $41.38 | $36.25K | 33,090 |
| Betsy D. Holden Director | Apr 30, 2025 | Award | +1,223 | $41.38 | $50.61K | 29,760 |
| Kamau Omari Witherspoon Director | Apr 30, 2025 | Award | +1,405 | $41.38 | $58.14K | 17,006 |
| Steven D. Cosler Director | Apr 30, 2025 | Award | +1,497 | $41.38 | $61.95K | 62,480 |
| Edward J. Fritsch Director | Apr 30, 2025 | Award | +876 | $41.38 | $36.25K | 61,047 |
| David M. Fick Director | Apr 30, 2025 | Award | +1,745 | $41.38 | $72.21K | 63,755 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Stephen A. Horn, Jr. Affiliate | Mar 9, 2026 | 33,192 | $1.50M | Mar 9, 2026 | Vested RSUs |
| Michelle Lynn Miller Director | Feb 19, 2026 | 4,000 | $175.16K | Feb 19, 2026 | Stock Award |
| Michelle Lynn Miller Officer | Aug 21, 2025 | 10,000 | $422.20K | Aug 21, 2025 | Stock Award |
| Stephen A. Horn, Jr. CEO | Mar 17, 2025 | 55,356 | $2.34M | Mar 17, 2025 | Vested RSUs |
| Michelle Lynn Miller Director | Nov 13, 2024 | 1,000 | $42.68K | Nov 13, 2024 | Stock Award |
| Stephen A. Horn, Jr. CEO | Aug 23, 2024 | 28,192 | $1.30M | Aug 23, 2024 | Common Stock Grant |
| Kevin B. Habicht Officer | Aug 19, 2024 | 24,222 | $1.09M | Aug 19, 2024 | Stock Award |
| Christopher Paul Tessitore Officer | Nov 28, 2023 | 47,717 | $1.85M | Nov 21, 2023 | Restricted Stock Award |