REALNasdaqRetail-Miscellaneous RetailFiscal year ends December 31
TheRealReal, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$10.40+0.01 (+0.10%)
Close on Oct 19, 2026
- Market cap
- $1.26B
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
93.0%
113M of 122M shares
Institutional holders
253
51 new, 43 sold out
Net institutional buying
-3M
In Q2 2026
Insider trades, 12 months
0 buys · 80 sales
Net sold $115.06M
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 |
|---|---|---|---|---|
| BlackRock, Inc. | 9,477,749 | 7.90% | 13G (passive) amendment | Jun 30, 2026 |
| Divisadero Street Capital, LLC | 9,198,248 | 7.60% | 13G (passive) | Jun 23, 2026 |
| David L. Kanen | 6,449,537 | 5.90% | 13G (passive) | Aug 26, 2024 |
| FMR LLC | 6,240,173 | 5.20% | 13G (passive) amendment | Jun 30, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of REAL | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 11,408,817 | 9.38% | $134.51M | +2,297,559 | 0.00% |
| Divisadero Street Capital Management, LP | 9,198,248 | 7.56% | $108.45M | +4,855,491 | 2.46% |
| FMR LLC | 5,045,191 | 4.15% | $59.48M | −5,872,562 | 0.00% |
| D. E. Shaw & Co., Inc. | 4,881,501 | 4.01% | $57.55M | +497,704 | 0.03% |
| Vanguard Capital Management LLC | 4,713,711 | 3.87% | $55.57M | +171,161 | 0.00% |
| Two Sigma Investments, LP | 3,996,366 | 3.28% | $47.12M | −472,981 | 0.03% |
| Arrowstreet Capital, Limited Partnership | 3,936,756 | 3.24% | $46.41M | −112,286 | 0.02% |
| American Century Companies Inc | 3,718,683 | 3.06% | $43.84M | +724,209 | 0.02% |
| Woodson Capital Management, LP | 3,300,000 | 2.71% | $38.91M | +630,580 | 6.51% |
| State Street Corp | 3,161,327 | 2.60% | $37.27M | +373,918 | 0.00% |
| Geode Capital Management, LLC | 2,847,301 | 2.34% | $33.58M | −4,746 | 0.00% |
| Goldman Sachs Group Inc | 2,716,327 | 2.23% | $32.03M | +509,988 | 0.00% |
| Nuveen, LLC | 2,348,701 | 1.93% | $27.69M | +119,479 | 0.01% |
| Aqr Capital Management LLC | 2,157,706 | 1.77% | $25.44M | +787,079 | 0.01% |
| AWM Investment Company, Inc. | 1,803,647 | 1.48% | $21.26M | +319,800 | 1.85% |
| Citadel Advisors LLC | 1,726,164 | 1.42% | $20.35M | −101,549 | 0.00% |
| UBS Group AG | 1,602,187 | 1.32% | $18.89M | +195,112 | 0.00% |
| Kanen Wealth Management LLC | 1,589,448 | 1.31% | $18.94M | +197,541 | 4.59% |
| Masters Capital Management LLC | 1,500,000 | 1.23% | $17.69M | −500,000 | 0.45% |
| Qube Research & Technologies Ltd | 1,363,859 | 1.12% | $16.08M | −1,831,623 | 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 | 253 | 113M | 93.0% | 51 / 103 | 69 / 43 | 24M | 27M |
| Q1 2026 | 248 | 116M | 95.3% | 58 / 87 | 73 / 42 | 29M | 23M |
| Q4 2025 | 236 | 117M | 95.8% | 45 / 89 | 81 / 27 | 32M | 18M |
| Q3 2025 | 223 | 104M | 85.4% | 53 / 75 | 75 / 32 | 29M | 20M |
| Q2 2025 | 203 | 95M | 78.0% | 35 / 68 | 64 / 41 | 18M | 15M |
| Q1 2025 | 210 | 91M | 75.0% | 52 / 82 | 54 / 30 | 27M | 12M |
| Q4 2024 | 190 | 77M | 63.4% | 61 / 51 | 57 / 24 | 21M | 17M |
| Q3 2024 | 156 | 74M | 60.6% | 29 / 50 | 43 / 25 | 19M | 9M |
| Q2 2024 | 154 | 70M | 57.9% | 35 / 45 | 47 / 34 | 19M | 20M |
| Q1 2024 | 154 | 71M | 58.5% | 44 / 46 | 36 / 25 | 23M | 12M |
| Q4 2023 | 137 | 60M | 49.0% | 30 / 43 | 36 / 28 | 22M | 5M |
| Q3 2023 | 139 | 46M | 37.5% | 31 / 43 | 29 / 26 | 12M | 11M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of REAL | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 3,442,236 | 2.83% | $40.58M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 2,941,613 | 2.42% | $34.68M | 0.04% | Jun 30, 2026 |
| Small Cap Growth Fund | 2,238,888 | 1.84% | $27.07M | 0.49% | Jul 31, 2026 |
| Fidelity Small Cap Growth Fund | 1,465,840 | 1.20% | $17.72M | 0.20% | Jul 31, 2026 |
| Fidelity Small Cap Index Fund | 1,230,356 | 1.01% | $14.88M | 0.04% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 1,149,604 | 0.94% | $13.55M | 0.01% | Jun 30, 2026 |
| Fidelity Enhanced Small Cap Core ETF | 972,727 | 0.80% | $11.47M | 0.20% | Jun 30, 2026 |
| Fidelity Advisor Small Cap Fund | 917,800 | 0.75% | $8.85M | 0.37% | May 31, 2026 |
| College Retirement Equities Fund - Total Global Stock Account | 783,965 | 0.64% | $9.24M | 0.01% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 754,127 | 0.62% | $8.89M | 0.06% | Jun 30, 2026 |
| Fidelity Small Cap Growth K6 Fund | 750,840 | 0.62% | $9.08M | 0.20% | Jul 31, 2026 |
| Bridge Builder Small/Mid Cap Growth Fund | 587,378 | 0.48% | $6.93M | 0.06% | Jun 30, 2026 |
| Nuveen Quant Small/Mid Cap Equity Fund | 582,640 | 0.48% | $7.04M | 0.26% | Jul 31, 2026 |
| State Street(R) SPDR(R) S&P(R) Retail ETF | 564,716 | 0.46% | $6.66M | 1.75% | Jun 30, 2026 |
| Vanguard Russell 2000 Index Fund | 547,142 | 0.45% | $5.27M | 0.03% | May 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 |
|---|---|---|---|---|
| Levesque Rati Sahi | Chief Executive Officer | 1,573,205 | 1.29% | Aug 24, 2026 |
| Todd A. Suko | Chief Legal Officer and Secret | 594,569 | 0.49% | Aug 24, 2026 |
| Steve Ming Lo | Chief Accounting Officer | 187,302 | 0.15% | Aug 24, 2026 |
| Gopal Ajay Madan | Chief Financial Officer | 1,132,441 | 0.93% | Aug 24, 2026 |
| Luke Thomas Friang | Chief Product & Tech Officer | 519,677 | 0.43% | Aug 24, 2026 |
| Chatelle Aileen Lynch | Chief People Officer | 613,577 | 0.50% | Aug 14, 2025 |
| Karen Katz | Director | 253,883 | 0.21% | Jul 29, 2026 |
| Robert J. Krolik | Director | 205,507 | 0.17% | Jul 29, 2026 |
| Mark McCaffrey | Director | 27,755 | 0.02% | Jul 29, 2026 |
| James R. Miller | Director | 198,066 | 0.16% | Jul 29, 2026 |
| Jennifer McKeehan | Director | 18,397 | 0.02% | Jul 29, 2026 |
| Caretha Coleman | Director | 265,933 | 0.22% | Jul 29, 2026 |
| Niki Leondakis | Director | 207,489 | 0.17% | Jan 7, 2026 |
| Gilbert L. Baird III | Director | 26,025 | 0.02% | Nov 19, 2025 |
| John E. Koryl | – | 63,170 | 0.05% | Jan 8, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Todd A. Suko Chief Legal Officer and Secret | Aug 21, 2026 | Sale | −10,895 | $10.97 | $119.52K | 594,569 |
| Todd A. Suko Chief Legal Officer and Secret | Aug 21, 2026 | Sale | −4,193 | $10.98 | $46.04K | 587,897 |
| Todd A. Suko Chief Legal Officer and Secret | Aug 21, 2026 | Sale | −2,479 | $10.98 | $27.22K | 592,090 |
| Steve Ming Lo Chief Accounting Officer | Aug 21, 2026 | Sale | −2,167 | $10.97 | $23.77K | 187,302 |
| Steve Ming Lo Chief Accounting Officer | Aug 21, 2026 | Sale | −8,985 | $10.97 | $98.57K | 178,317 |
| Steve Ming Lo Chief Accounting Officer | Aug 21, 2026 | Sale | −1,407 | $10.98 | $15.45K | 176,910 |
| Gopal Ajay Madan Chief Financial Officer | Aug 21, 2026 | Sale | −4,770 | $10.98 | $52.37K | 1,132,441 |
| Gopal Ajay Madan Chief Financial Officer | Aug 21, 2026 | Sale | −23,581 | $10.98 | $258.92K | 1,108,860 |
| Gopal Ajay Madan Chief Financial Officer | Aug 21, 2026 | Sale | −8,067 | $10.98 | $88.58K | 1,137,211 |
| Luke Thomas Friang Chief Product & Tech Officer | Aug 21, 2026 | Sale | −2,514 | $10.98 | $27.60K | 519,677 |
| Luke Thomas Friang Chief Product & Tech Officer | Aug 21, 2026 | Sale | −8,528 | $10.98 | $93.64K | 511,149 |
| Luke Thomas Friang Chief Product & Tech Officer | Aug 21, 2026 | Sale | −2,501 | $10.98 | $27.46K | 508,648 |
| Luke Thomas Friang Chief Product & Tech Officer | Aug 21, 2026 | Sale | −8,485 | $10.98 | $93.17K | 522,191 |
| Levesque Rati Sahi Chief Executive Officer | Aug 21, 2026 | Sale | −8,071 | $10.98 | $88.62K | 1,573,205 |
| Levesque Rati Sahi Chief Executive Officer | Aug 21, 2026 | Sale | −56,145 | $10.98 | $616.47K | 1,496,844 |
| Levesque Rati Sahi Chief Executive Officer | Aug 21, 2026 | Sale | −20,216 | $10.98 | $221.97K | 1,552,989 |
| Caretha Coleman Director | Jul 27, 2026 | Award | +14,150 | – | – | 265,933 |
| Robert J. Krolik Director | Jul 27, 2026 | Award | +14,150 | – | – | 205,507 |
| Mark McCaffrey Director | Jul 27, 2026 | Award | +14,150 | – | – | 27,755 |
| James R. Miller Director | Jul 27, 2026 | Award | +14,150 | – | – | 198,066 |
| Jennifer McKeehan Director | Jul 27, 2026 | Award | +14,150 | – | – | 18,397 |
| Karen Katz Director | Jul 27, 2026 | Award | +14,150 | – | – | 253,883 |
| Mark McCaffrey Director | Jun 30, 2026 | Award | +742 | – | – | 13,605 |
| Karen Katz Director | Jun 30, 2026 | Award | +1,378 | – | – | 239,733 |
| Luke Thomas Friang Chief Product & Tech Officer | May 21, 2026 | Sale | −8,202 | $9.25 | $75.87K | 535,498 |
| Luke Thomas Friang Chief Product & Tech Officer | May 21, 2026 | Sale | −2,405 | $9.25 | $22.25K | 533,093 |
| Luke Thomas Friang Chief Product & Tech Officer | May 21, 2026 | Sale | −2,417 | $9.25 | $22.36K | 530,676 |
| Luke Thomas Friang Chief Product & Tech Officer | May 21, 2026 | Sale | −8,159 | $9.25 | $75.47K | 543,700 |
| Steve Ming Lo Chief Accounting Officer | May 21, 2026 | Sale | −2,084 | $9.25 | $19.28K | 190,822 |
| Steve Ming Lo Chief Accounting Officer | May 21, 2026 | Sale | −8,640 | $9.25 | $79.92K | 192,906 |
| Steve Ming Lo Chief Accounting Officer | May 21, 2026 | Sale | −1,353 | $9.25 | $12.52K | 189,469 |
| Gopal Ajay Madan Chief Financial Officer | May 21, 2026 | Sale | −22,678 | $9.25 | $209.77K | 1,157,623 |
| Gopal Ajay Madan Chief Financial Officer | May 21, 2026 | Sale | −4,587 | $9.25 | $42.43K | 1,145,278 |
| Gopal Ajay Madan Chief Financial Officer | May 21, 2026 | Sale | −7,758 | $9.25 | $71.76K | 1,150,859 |
| Levesque Rati Sahi Chief Executive Officer | May 21, 2026 | Sale | −19,438 | $9.25 | $179.80K | 1,643,032 |
| Levesque Rati Sahi Chief Executive Officer | May 21, 2026 | Sale | −53,994 | $9.25 | $499.44K | 1,589,038 |
| Levesque Rati Sahi Chief Executive Officer | May 21, 2026 | Sale | −7,762 | $9.25 | $71.80K | 1,581,276 |
| Todd A. Suko Chief Legal Officer and Secret | May 21, 2026 | Sale | −4,142 | $9.25 | $38.31K | 607,843 |
| Todd A. Suko Chief Legal Officer and Secret | May 21, 2026 | Sale | −2,449 | $9.25 | $22.65K | 605,394 |
| Todd A. Suko Chief Legal Officer and Secret | May 21, 2026 | Sale | −10,762 | $9.25 | $99.55K | 611,985 |
| Steve Ming Lo Chief Accounting Officer | Apr 13, 2026 | Award | +31,310 | – | – | 201,546 |
| Jennifer McKeehan Director | Apr 13, 2026 | Award | +4,247 | – | – | 4,247 |
| Karen Katz Director | Mar 31, 2026 | Award | +1,988 | – | – | 238,355 |
| Mark McCaffrey Director | Mar 31, 2026 | Award | +963 | – | – | 12,863 |
| Gopal Ajay Madan Chief Financial Officer | Mar 19, 2026 | Sale | −51,585 | $9.29 | $479.22K | 1,179,307 |
| Steve Ming Lo Chief Accounting Officer | Feb 23, 2026 | Sale | −8,796 | $10.72 | $94.29K | 172,351 |
| Steve Ming Lo Chief Accounting Officer | Feb 23, 2026 | Sale | −2,115 | $10.72 | $22.67K | 170,236 |
| Steve Ming Lo Chief Accounting Officer | Feb 23, 2026 | Sale | −6,051 | $10.72 | $64.87K | 181,147 |
| Levesque Rati Sahi Chief Executive Officer | Feb 23, 2026 | Sale | −5,265 | $10.72 | $56.44K | 1,598,913 |
| Levesque Rati Sahi Chief Executive Officer | Feb 23, 2026 | Sale | −15,339 | $10.72 | $164.43K | 1,583,574 |
| Levesque Rati Sahi Chief Executive Officer | Feb 23, 2026 | Sale | −26,294 | $10.72 | $281.87K | 1,557,280 |
| Levesque Rati Sahi Chief Executive Officer | Feb 23, 2026 | Sale | −19,721 | $10.72 | $211.41K | 1,537,559 |
| Levesque Rati Sahi Chief Executive Officer | Feb 23, 2026 | Award | +179,691 | – | – | 1,662,470 |
| Levesque Rati Sahi Chief Executive Officer | Feb 23, 2026 | Sale | −54,780 | $10.72 | $587.24K | 1,482,779 |
| Gopal Ajay Madan Chief Financial Officer | Feb 23, 2026 | Award | +106,181 | – | – | 1,230,892 |
| Gopal Ajay Madan Chief Financial Officer | Feb 23, 2026 | Sale | −23,511 | $10.72 | $252.04K | 1,132,581 |
| Gopal Ajay Madan Chief Financial Officer | Feb 23, 2026 | Sale | −7,870 | $10.72 | $84.37K | 1,124,711 |
| Luke Thomas Friang Chief Product & Tech Officer | Feb 23, 2026 | Sale | −8,848 | $10.72 | $94.85K | 490,417 |
| Luke Thomas Friang Chief Product & Tech Officer | Feb 23, 2026 | Sale | −2,440 | $10.72 | $26.16K | 479,656 |
| Luke Thomas Friang Chief Product & Tech Officer | Feb 23, 2026 | Award | +72,203 | – | – | 551,859 |
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 |
|---|---|---|---|---|---|
| Leondakis Niki Former Director | Apr 27, 2026 | 12,945 | $160.13K | Apr 27, 2026 | Stock Option Exercise |
| Leondakis Niki Former Director | Apr 24, 2026 | 7,055 | $87.27K | Apr 24, 2026 | Stock Option Exercise |
| Lo Steve Officer | Dec 9, 2025 | 43,926 | $634.73K | Dec 9, 2025 | Restricted Stock |
| Lo Steve Officer | Dec 8, 2025 | 17,874 | $253.70K | Dec 8, 2025 | Restricted Stock |
| Lo Steve Officer | Dec 5, 2025 | 555 | $8.02K | Dec 5, 2025 | Restricted Stock |
| Madan Gopal Ajay Officer | Nov 26, 2025 | 28,520 | $420.02K | Nov 26, 2025 | Restricted Stock |
| Lo Steve Officer | Nov 25, 2025 | 59,789 | $864.25K | Nov 25, 2025 | Restricted Stock |
| Andrew Suko Todd Officer | Nov 25, 2025 | 75,359 | $1.06M | Nov 25, 2025 | Performance Shares |
| Andrew Suko Todd Officer | Nov 18, 2025 | 75,623 | $1.06M | Nov 18, 2025 | Employee Stock Purchase Plan |
| Growth Equity Fund II LP PWP Affiliate | Nov 17, 2025 | 5,785,182 | $82.03M | Nov 17, 2025 | Private Placement |
| Partners LP GreyLion Affiliate | Nov 17, 2025 | 236,112 | $3.35M | Nov 17, 2025 | RSU Vesting |
| Growth Equity Fund II B. LP PWP Affiliate | Nov 17, 2025 | 1,665,148 | $23.61M | Nov 17, 2025 | Private Placement |
| Lo Steve Officer | Nov 13, 2025 | 13,542 | $193.24K | Nov 13, 2025 | Stock Option Exercise |
| Sahi Levesque Rati Officer | Aug 18, 2025 | 60,750 | $486.24K | Aug 18, 2025 | Exercised Shares |
| Sahi Levesque Rati Officer | Aug 18, 2025 | 199,421 | $1.58M | Aug 18, 2025 | Restricted Stock |