Net Lease Office Properties (NLOP)

Highly Crowded

Held by 246 of 5,944 reporting institutions (93th percentile) — extremely crowded.

Data as of Q1 2026

Institutional Ownership

53.17%

QoQ Change

-3.49%

Total Value

$84.7B

Shares Outstanding

14.8M

Crowding AnalysisHighly Crowded

Holders246of 5,944

Avg: 68

Uncrowded93th percentileCrowded

Institutional Activity

Buy/Sell Ratio1.15x

79th percentile

109 buying95 selling

+37

New

-43

Closed

-524,314

Net shares

Holding Period Distribution

estimate

Median: 4 QAvg: 4.2 QHolders: 246

Ownership Concentration

Top 5: 48.9%Top 10: 62.8%

BlackRock,20.9%

VANGUARD CAPITAL MANAGEMENT11.2%

THOMPSON SIEGEL & WALMSLEY6.9%

STATE STREET5.3%

GEODE CAPITAL MANAGEMENT,4.6%

Others (241)51.1%

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Conviction-Weighted Ownership

Median weight: 0.00%Avg weight: 0.02%Max: 0.13%High conviction (>1%): 0

BlackRock,

VANGUARD CAPITAL MANAGEMENT

THOMPSON SIEGEL & WALMSLEY

STATE STREET

GEODE CAPITAL MANAGEMENT,

MILLENNIUM MANAGEMENT

TWO SIGMA INVESTMENTS,

DIMENSIONAL FUND ADVISORS

Man Group

K2 PRINCIPAL FUND, L.P.

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Whale Moves Timeline (8 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWVANGUARD CAPITAL MANAGEMENT$10M880K shr

NEWTWO SIGMA INVESTMENTS$3M285K shr

BOUGHTBlackRock$3M273K shr

NEWMan Group$2M172K shr

BOUGHTMILLENNIUM MANAGEMENT$2M139K shr

BOUGHTTHOMPSON SIEGEL & WALMSLEY$6.3B244K shr

NEWMILLENNIUM MANAGEMENT$4M164K shr

SOLDJ. Goldman & Co$2M85K shr

BOUGHTBlackRock$345K13K shr

BOUGHTK2 PRINCIPAL FUND, L.P.$250K10K shr

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Institutional Trends (8 Quarters)

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Institutional Holders

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