NREFNYSEReal Estate Investment TrustsFiscal year ends December 31Also trades as NREF.PA
NexPoint Real Estate Finance, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$15.15−0.27 (-1.75%)
Close on Oct 19, 2026
- Market cap
- $817.77M
- P/E (TTM)
- 7.2
- Dividend yield
- 13.20%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
13M
Shares held, 13F filers
Institutional holders
78
8 new, 14 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
0 buys · 1 sales
Net sold $172.73K
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 |
|---|---|---|---|---|
| Dondero James D | 10,034,228 | 54.00% | 13D (active) amendment | Dec 30, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of NREF | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Nexpoint Asset Management, L.P. | 9,439,635 | – | $146.31M | – | 9.78% |
| BlackRock, Inc. | 624,275 | – | $9.68M | +30,273 | 0.00% |
| Vanguard Capital Management LLC | 346,323 | – | $5.37M | +36,847 | 0.00% |
| Raymond James Financial Inc | 292,853 | – | $4.54M | −6,099 | 0.00% |
| Independent Financial Group, LLC | 281,010 | – | $4.36M | +4,409 | 0.08% |
| Morgan Stanley | 195,067 | – | $3.02M | +3,319 | 0.00% |
| Geode Capital Management, LLC | 182,678 | – | $2.83M | +3,429 | 0.00% |
| State Street Corp | 173,362 | – | $2.69M | −2,200 | 0.00% |
| O'Shaughnessy Asset Management, LLC | 155,328 | – | $2.41M | −387 | 0.01% |
| Copley Financial Group, Inc. | 110,587 | – | $1.71M | +80 | 1.04% |
| Ritholtz Wealth Management | 104,618 | – | $1.62M | −7,970 | 0.02% |
| Penserra Capital Management LLC | 80,732 | – | $1.25K | −2,642 | 0.01% |
| 1776 Wealth LLC | 72,399 | – | $1.12M | – | 0.40% |
| Wedbush Securities Inc | 60,117 | – | $932 | −2,365 | 0.02% |
| Northern Trust Corp | 57,141 | – | $885.69K | +7,346 | 0.00% |
| Goldman Sachs Group Inc | 51,585 | – | $799.57K | −19,971 | 0.00% |
| LPL Financial LLC | 50,332 | – | $780.15K | +4,818 | 0.00% |
| Vanguard Portfolio Management LLC | 48,334 | – | $749.18K | +9,593 | 0.00% |
| Cetera Investment Advisers | 41,722 | – | $646.70K | +5,166 | 0.00% |
| Vanguard Fiduciary Trust Co | 41,174 | – | $638.20K | +650 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|
| Q2 2026 | 78 | 13M | 8 / 33 | 20 / 14 | 0M | 0M |
| Q1 2026 | 86 | 13M | 15 / 29 | 29 / 7 | 1M | 0M |
| Q4 2025 | 79 | 13M | 13 / 22 | 34 / 10 | 1M | 0M |
| Q3 2025 | 76 | 12M | 11 / 32 | 20 / 8 | 0M | 0M |
| Q2 2025 | 76 | 12M | 12 / 31 | 24 / 9 | 0M | 0M |
| Q1 2025 | 75 | 12M | 10 / 25 | 25 / 9 | 0M | 0M |
| Q4 2024 | 77 | 12M | 14 / 29 | 15 / 4 | 1M | 0M |
| Q3 2024 | 69 | 12M | 9 / 20 | 23 / 4 | 1M | 0M |
| Q2 2024 | 65 | 12M | 10 / 27 | 18 / 7 | 0M | 0M |
| Q1 2024 | 62 | 12M | 9 / 17 | 26 / 7 | 0M | 0M |
| Q4 2023 | 60 | 12M | 4 / 21 | 24 / 4 | 0M | 0M |
| Q3 2023 | 60 | 12M | 7 / 19 | 22 / 1 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of NREF | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 260,100 | – | $4.03M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 238,810 | – | $3.70M | 0.00% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 85,141 | – | $1.44M | 0.00% | Jul 31, 2026 |
| Hoya Capital High Dividend Yield ETF | 83,913 | – | $1.31M | 1.25% | May 31, 2026 |
| iShares Mortgage Real Estate ETF | 81,593 | – | $1.26M | 0.23% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 75,928 | – | $1.18M | 0.01% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 69,624 | – | $1.08M | 0.00% | Jun 30, 2026 |
| Fidelity Extended Market Index Fund | 39,180 | – | $611.60K | 0.00% | May 31, 2026 |
| Vanguard Russell 2000 Index Fund | 34,216 | – | $534.11K | 0.00% | May 31, 2026 |
| Goldman Sachs Absolute Return Tracker Fund | 27,387 | – | $424.50K | 0.01% | Jun 30, 2026 |
| iShares Micro-Cap ETF | 24,042 | – | $372.65K | 0.02% | Jun 30, 2026 |
| Ultra-Small Company Fund | 18,400 | – | $285.20K | 0.29% | Jun 30, 2026 |
| Schwab Small-Cap Index Fund | 17,435 | – | $295.70K | 0.00% | Jul 31, 2026 |
| U.S. Small Cap Equity Fund | 16,211 | – | $274.94K | 0.03% | Jul 31, 2026 |
| Master Small Cap Index Series | 15,920 | – | $246.76K | 0.00% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| James D. Dondero | President, Director, 10% owner | 6,435,917 | Apr 6, 2026 |
| Paul Richards | See Remarks | 78,113 | Apr 6, 2026 |
| Matt McGraner | See Remarks | 319,844 | Apr 6, 2026 |
| Dennis Charles Sauter Jr | General Counsel and Secretary | 33,017 | Apr 6, 2026 |
| Brian Mitts | Director | 98,482 | Apr 6, 2026 |
| Carol Swain | Director | 11,563 | Apr 6, 2026 |
| Edward N. Constantino | Director | 33,898 | Apr 6, 2026 |
| Catherine D. Wood | Director | 30,228 | Apr 6, 2026 |
| Arthur B. Laffer | Director | 65,009 | Apr 6, 2026 |
| Scott F. Kavanaugh | Director | 25,309 | Apr 6, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Matt McGraner See Remarks | Apr 4, 2026 | Tax withholding | −18,776 | $13.36 | $250.85K | 318,044 |
| Matt McGraner See Remarks | Apr 4, 2026 | Option exercise | +32,010 | – | – | 336,820 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Apr 4, 2026 | Tax withholding | −1,229 | $13.36 | $16.42K | 33,017 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Apr 4, 2026 | Option exercise | +3,238 | – | – | 34,246 |
| Brian Mitts Director | Apr 4, 2026 | Option exercise | +6,837 | – | – | 98,387 |
| Brian Mitts Director | Apr 4, 2026 | Returned to company | −1,025 | – | – | 97,362 |
| Brian Mitts Director | Apr 4, 2026 | Tax withholding | −2,448 | $13.36 | $32.71K | 94,914 |
| Paul Richards See Remarks | Apr 4, 2026 | Option exercise | +6,894 | – | – | 69,736 |
| Paul Richards See Remarks | Apr 4, 2026 | Tax withholding | −4,044 | $13.36 | $54.03K | 65,692 |
| James D. Dondero President, Director, 10% owner | Apr 4, 2026 | Option exercise | +33,284 | – | – | 492,250 |
| Matt McGraner See Remarks | Apr 3, 2026 | Option exercise | +36,830 | – | – | 322,448 |
| Matt McGraner See Remarks | Apr 3, 2026 | Tax withholding | −17,638 | $13.36 | $235.64K | 304,810 |
| Carol Swain Director | Apr 3, 2026 | Returned to company | −2,759 | – | – | 11,563 |
| Carol Swain Director | Apr 3, 2026 | Option exercise | +5,518 | – | – | 14,322 |
| Arthur B. Laffer Director | Apr 3, 2026 | Option exercise | +5,518 | – | – | 65,009 |
| Scott F. Kavanaugh Director | Apr 3, 2026 | Option exercise | +5,518 | – | – | 25,309 |
| Edward N. Constantino Director | Apr 3, 2026 | Returned to company | −2,759 | – | – | 33,898 |
| Edward N. Constantino Director | Apr 3, 2026 | Option exercise | +5,518 | – | – | 36,657 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Apr 3, 2026 | Option exercise | +4,311 | – | – | 32,478 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Apr 3, 2026 | Tax withholding | −1,470 | $13.36 | $19.64K | 31,008 |
| Brian Mitts Director | Apr 3, 2026 | Returned to company | −2,759 | – | – | 91,550 |
| Brian Mitts Director | Apr 3, 2026 | Option exercise | +5,518 | – | – | 94,309 |
| Catherine D. Wood Director | Apr 3, 2026 | Option exercise | +5,518 | – | – | 30,228 |
| Paul Richards See Remarks | Apr 3, 2026 | Tax withholding | −6,825 | $13.36 | $91.18K | 62,842 |
| Paul Richards See Remarks | Apr 3, 2026 | Option exercise | +15,087 | – | – | 69,667 |
| James D. Dondero President, Director, 10% owner | Apr 3, 2026 | Option exercise | +36,830 | – | – | 458,966 |
| James D. Dondero President, Director, 10% owner | Mar 13, 2026 | Option exercise | +38,438 | – | – | 408,412 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Mar 13, 2026 | Tax withholding | −1,161 | $13.15 | $15.27K | 28,167 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Mar 13, 2026 | Option exercise | +2,917 | – | – | 29,328 |
| Brian Mitts Director | Mar 13, 2026 | Tax withholding | −2,004 | $13.15 | $26.35K | 88,791 |
| Brian Mitts Director | Mar 13, 2026 | Returned to company | −1,249 | – | – | 90,795 |
| Brian Mitts Director | Mar 13, 2026 | Option exercise | +8,333 | – | – | 92,044 |
| Paul Richards See Remarks | Mar 13, 2026 | Tax withholding | +5,580 | $13.15 | $73.38K | 54,580 |
| Paul Richards See Remarks | Mar 13, 2026 | Option exercise | +10,000 | – | – | 60,160 |
| Matt McGraner See Remarks | Mar 13, 2026 | Tax withholding | −13,554 | $13.15 | $178.24K | 285,618 |
| Matt McGraner See Remarks | Mar 13, 2026 | Option exercise | +38,438 | – | – | 299,172 |
| Brian Mitts Director | Feb 21, 2026 | Tax withholding | −2,806 | $14.86 | $41.70K | 83,711 |
| Brian Mitts Director | Feb 21, 2026 | Returned to company | −830 | – | – | 86,517 |
| Brian Mitts Director | Feb 21, 2026 | Option exercise | +5,538 | – | – | 87,347 |
| Matt McGraner See Remarks | Feb 21, 2026 | Option exercise | +17,308 | – | – | 268,076 |
| Matt McGraner See Remarks | Feb 21, 2026 | Tax withholding | −7,342 | $14.86 | $109.10K | 260,734 |
| James D. Dondero President, Director, 10% owner | Feb 21, 2026 | Option exercise | +17,308 | – | – | 369,974 |
| Paul Richards See Remarks | Feb 21, 2026 | Option exercise | +4,568 | – | – | 53,399 |
| Paul Richards See Remarks | Feb 21, 2026 | Tax withholding | −3,239 | $14.86 | $48.13K | 50,160 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Feb 21, 2026 | Option exercise | +2,146 | – | – | 27,422 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Feb 21, 2026 | Tax withholding | −1,011 | $14.86 | $15.02K | 26,411 |
| James D. Dondero President, Director, 10% owner | Dec 30, 2025 | Option exercise | −852,273 | – | – | 3,649,759 |
| Brian Mitts Director | Dec 18, 2025 | Sale | −11,904 | $14.51 | $172.73K | 0 |
| James D. Dondero President, Director, 10% owner | Sep 22, 2025 | Sale | −66,000 | $14.33 | $945.78K | 2,797,486 |
| James D. Dondero President, Director, 10% owner | Sep 22, 2025 | Buy | +66,000 | $14.33 | $945.78K | 319,490 |
| Paul Richards See Remarks | Apr 9, 2025 | Buy | +1,000 | $12.28 | $12.28K | 48,831 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Apr 4, 2025 | Tax withholding | −1,184 | $14.21 | $16.82K | 25,276 |
| Dennis Charles Sauter Jr General Counsel and Secretary | Apr 4, 2025 | Option exercise | +3,238 | – | – | 26,460 |
| Paul Richards See Remarks | Apr 4, 2025 | Tax withholding | −3,583 | $14.21 | $50.91K | 47,831 |
| Paul Richards See Remarks | Apr 4, 2025 | Option exercise | +6,895 | – | – | 51,414 |
| Brian Mitts Director | Apr 4, 2025 | Tax withholding | −3,372 | $14.21 | $47.92K | 81,809 |
| Brian Mitts Director | Apr 4, 2025 | Option exercise | +6,837 | – | – | 85,181 |
| James D. Dondero President, Director, 10% owner | Apr 4, 2025 | Option exercise | +33,284 | – | – | 317,752 |
| Matt McGraner See Remarks | Apr 4, 2025 | Tax withholding | −16,634 | $14.21 | $236.37K | 250,768 |
| Matt McGraner See Remarks | Apr 4, 2025 | Option exercise | +32,010 | – | – | 267,402 |
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 |
|---|---|---|---|---|---|
| Brian Mitts Director | Dec 11, 2025 | 11,904 | $180.58K | Dec 12, 2025 | Purchases of issuer securities through a 401(k) Plan |