NexPoint Real Estate Finance, Inc. (NREF) shareholders
NREFNYSEReal Estate Investment TrustsFiscal year ends December 31Also trades as NREF.PA
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 10, 2026Score 12/3079% below fair value
$12.67−0.52 (-3.94%)
Close on Nov 12, 2026Market cap $238.81MP/E 4.4Yield 15.79%
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 Joint filing with Nexpoint Asset Management, L.P. (30.70%), Highland Opportunities & Income Fund (23.50%) and 2 more | 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 | – | $1.25M | −2,642 | 0.01% |
| 1776 Wealth LLC | 72,399 | – | $1.12M | – | 0.40% |
| Wedbush Securities Inc | 60,117 | – | $932.00K | −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)
79 funds held NREF in Q2 2026, 72% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| 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.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
6.13%
0M shares short
Days to cover
9.3
At 0M shares a day
Change since last report
-0.9%
From 1M shares
Short volume, 20 days
52.2%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of NexPoint Real Estate Finance's stock actually held short. Settlement fails (shares not delivered on time) peaked at 23,414 shares on Oct 2, 2026 over the last 90 days.
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 |
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