NNN REIT, Inc.
US ˙ NYSE ˙ US6374171063

SecurityNNN / NNN REIT, Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership2,925,161 shares
Latest Disclosed Value $ 122,944,678
Morgan Stanley reports 17.04% increase in ownership of NNN / NNN REIT, Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 2,925,161 shares of NNN REIT, Inc. (US:NNN) valued at $122,944,517 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 2,499,244 shares of NNN REIT, Inc.. This represents a change in shares of 17.04% during the quarter. The current value of the position is $128,648,581 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F NNN REIT COM 637417106 2,925,161 425,917 17.04 122,945 24.13 0.0074
2026-05-27 2025-12-31 13F/A-1 NNN REIT COM 637417106 2,499,244 107,889 4.51 99,045 -2.71 0.0059
2026-02-13 2025-12-31 13F NNN REIT COM 637417106 2,499,244 107,889 99,045 0.0059
2026-05-27 2025-09-30 13F/A-1 NNN REIT COM 637417106 2,391,355 242,032 11.26 101,800 9.69 0.0062
2025-11-14 2025-09-30 13F NNN REIT COM 637417106 2,391,355 242,032 101,800 0.0062
2025-08-15 2025-06-30 13F NNN REIT COM 637417106 2,149,323 -105,899 -4.70 92,808 -3.51 0.0060
2025-05-15 2025-03-31 13F NNN REIT COM 637417106 2,255,222 -51,229 -2.22 96,185 2.09 0.0069
2025-05-15 2024-12-31 13F/A-1 NNN REIT COM 637417106 2,306,451 149,964 6.95 94,219 -9.90 0.0066
2025-02-14 2024-12-31 13F NNN REIT COM 637417106 2,306,451 149,964 94,219 0.0066
2025-05-14 2024-09-30 13F/A-2 NNN REIT COM 637417106 2,156,487 -11,067 -0.51 104,568 13.25 0.0076
2025-02-14 2024-09-30 13F/A-1 NNN REIT COM 637417106 2,156,487 -11,067 104,568 0.0076
2024-11-14 2024-09-30 13F NNN REIT COM 637417106 2,156,487 -11,067 104,568 0.0009
2025-05-14 2024-06-30 13F/A-2 NNN REIT COM 637417106 2,167,554 -18,140 -0.83 92,338 -1.16 0.0071
2024-10-17 2024-06-30 13F/A-1 NNN REIT COM 637417106 2,167,554 -18,140 92,338 0.0071
2024-08-14 2024-06-30 13F NNN REIT COM 637417106 2,167,554 -18,140 92,338 0.0071
2024-10-17 2024-03-31 13F/A-2 NNN REIT COM 637417106 2,185,694 225,283 11.49 93,417 10.56 0.0075
2024-08-16 2024-03-31 13F/A-1 NNN REIT COM 637417106 2,185,694 225,283 93,417 0.0075
2024-05-15 2024-03-31 13F NNN REIT COM 637417106 2,185,694 225,283 93,417 0.0075
2024-08-16 2023-12-31 13F/A-1 NNN REIT COM 637417106 1,960,411 -353,008 -15.26 84,494 3.35 0.0074
2024-02-13 2023-12-31 13F NNN REIT COM 637417106 1,960,411 -353,008 84,494 0.0074
2023-11-15 2023-09-30 13F NNN REIT COM 637417106 2,313,419 212,276 10.10 81,756 -9.07 0.0083
2023-08-14 2023-06-30 13F NNN REIT COM 637417106 2,101,143 -228,495 -9.81 89,908 -12.59 0.0089
2023-05-15 2023-03-31 13F NATIONAL RETAIL PROPERTIES I COM 637417106 2,329,638 120,647 5.46 102,854 1.75 0.0110
2023-02-14 2022-12-31 13F NATIONAL RETAIL PROPERTIES I COM 637417106 2,208,991 87,162 4.11 101,083 19.52 0.0115
2022-11-14 2022-09-30 13F NATIONAL RETAIL PROPERTIES I COM 637417106 2,121,829 -209,114 -8.97 84,576 -15.62 0.0115
2022-10-27 2022-06-30 13F/A-1 NATIONAL RETAIL PROPERTIES I COM 637417106 2,330,943 246,903 11.85 100,230 7.02 0.0130
2022-08-15 2022-06-30 13F NATIONAL RETAIL PROPERTIES I COM 637417106 2,330,943 246,903 100,230 0.0026
2022-10-27 2022-03-31 13F/A-1 NATIONAL RETAIL PROPERTIES I COM 637417106 2,084,040 384,136 22.60 93,656 14.61 0.0126
2022-05-13 2022-03-31 13F NATIONAL RETAIL PROPERTIES I COM 637417106 2,084,040 384,136 93,656 0.0126
2022-02-14 2021-12-31 13F NATIONAL RETAIL PROPERTIES I COM 637417106 1,699,904 568,326 50.22 81,714 67.20 0.0101
2021-11-15 2021-09-30 13F NATIONAL RETAIL PROPERTIES I COM 637417106 1,131,578 188,485 19.99 48,873 10.54 0.0066
2021-08-23 2021-06-30 13F/A-1 NATIONAL RETAIL PROPERTIES I COM 637417106 943,093 130,339 16.04 44,212 23.44 0.0058
2021-08-16 2021-06-30 13F NATIONAL RETAIL PROPERTIES I COM 637417106 943,093 130,339 44,212 0.0012
2021-05-17 2021-03-31 13F NATIONAL RETAIL PROPERTIES I COM 637417106 812,754 293,548 56.54 35,817 68.57 0.0053
2021-02-16 2020-12-31 13F NATIONAL RETAIL PROPERTIES I COM 637417106 519,206 117,698 29.31 21,247 53.34 0.0033
2020-11-13 2020-09-30 13F NATIONAL RETAIL PROPERTIES I COM 637417106 401,508 -65,246 -13.98 13,856 -16.33 0.0027
2020-08-14 2020-06-30 13F NATIONAL RETAIL PROPERTIES I COM 637417106 466,754 73,905 18.81 16,561 30.97 0.0037
2020-05-26 2020-03-31 13F/A-1 NATIONAL RETAIL PROPERTIES I COM 637417106 392,849 -179,959 -31.42 12,645 -58.83 0.0034
2020-05-15 2020-03-31 13F NATIONAL RETAIL PROPERTIES I COM 637417106 392,849 -179,959 12,645 971.3996
2020-02-14 2019-12-31 13F NATIONAL RETAIL PPTYS COM 637417106 572,808 217,213 61.08 30,714 53.15 0.0071
2019-11-14 2019-09-30 13F NATIONAL RETAIL PPTYS COM 637417106 355,595 -49,777 -12.28 20,055 -6.67 0.0053
2019-08-14 2019-06-30 13F NATIONAL RETAIL PPTYS COM 637417106 405,372 -88,118 -17.86 21,489 -21.38 0.0057
2019-05-15 2019-03-31 13F NATIONAL RETAIL PPTYS COM 637417106 493,490 -38,142 -7.17 27,333 5.98 0.0077
2019-02-14 2018-12-31 13F NATIONAL RETAIL PPTYS COM 637417106 531,632 -90,775 -14.58 25,791 -7.55 0.0077
2019-04-23 2018-09-30 13F/A-2 NATIONAL RETAIL PPTYS COM 637417106 622,407 -10,542 -1.67 27,897 0.26 0.0070
2018-11-20 2018-09-30 13F/A-1 NATIONAL RETAIL PPTYS COM 637417106 622,407 0 27,897 0.0070
2018-11-14 2018-09-30 13F NATIONAL RETAIL PPTYS COM 637417106 622,407 -10,542 27,897
2019-04-23 2018-06-30 13F/A-1 NATIONAL RETAIL PPTYS COM 637417106 632,949 -543,636 -46.20 27,825 -39.76 0.0075
2018-08-14 2018-06-30 13F NATIONAL RETAIL PPTYS COM 637417106 632,949 -543,636 27,825
2019-04-23 2018-03-31 13F/A-1 NATIONAL RETAIL PPTYS COM 637417106 1,176,585 -312,888 -21.01 46,192 -28.10 0.0128
2018-05-14 2018-03-31 13F NATIONAL RETAIL PPTYS COM 637417106 1,176,585 -312,888 46,192
2019-04-23 2017-12-31 13F/A-1 NATIONAL RETAIL PPTYS COM 637417106 1,489,473 -292,231 -16.40 64,241 -13.45 0.0176
2018-02-14 2017-12-31 13F NATIONAL RETAIL PPTYS COM 637417106 1,489,473 -292,231 64,241
2017-11-14 2017-09-30 13F NATIONAL RETAIL PPTYS COM 637417106 1,781,704 -129,385 -6.77 74,225 -0.67 0.0222
2017-08-11 2017-06-30 13F NATIONAL RETAIL PPTYS COM 637417106 1,911,089 -787,452 -29.18 74,724 -36.52 0.0226
2017-05-22 2017-03-31 13F/A-1 NATIONAL RETAIL PPTYS COM 637417106 2,698,541 141,458 5.53 117,711 4.15 0.0362
2017-05-12 2017-03-31 13F NATIONAL RETAIL PPTYS COM 637417106 2,698,541 117,711
2017-02-22 2016-12-31 13F/A-1 NATIONAL RETAIL PPTYS COM 637417106 2,557,083 3,576 0.14 113,023 -12.96 0.0370
2017-02-13 2016-12-31 13F NATIONAL RETAIL PPTYS COM 637417106 2,557,083 113,023
2016-11-10 2016-09-30 13F NATIONAL RETAIL PPTYS COM 637417106 2,553,507 -116,268 -4.35 129,845 -5.96 0.0443
2016-08-12 2016-06-30 13F NATIONAL RETAIL PPTYS COM 637417106 2,669,775 9,960 0.37 138,081 12.37 0.0499
2016-05-12 2016-03-31 13F NATIONAL RETAIL PPTYS COM 637417106 2,659,815 -171,538 -6.06 122,884 8.37 0.0473
2016-02-09 2015-12-31 13F NATIONAL RETAIL PPTYS COM 637417106 2,831,353 8,394 0.30 113,396 10.75 0.0410
2016-02-08 2015-09-30 13F/A-1 NATIONAL RETAIL PPTYS COM 637417106 2,822,959 -485,417 -14.67 102,389 -11.60 0.0378
2015-11-09 2015-09-30 13F NATIONAL RETAIL PPTYS COM 637417106 2,822,959 102,389
2015-08-12 2015-06-30 13F NATIONAL RETAIL PPTYS COM 637417106 3,308,376 383,829 13.12 115,827 -3.33 0.0401
2015-05-14 2015-03-31 13F NATIONAL RETAIL PPTYS COM 637417106 2,924,547 -100,760 -3.33 119,818 0.60 0.0441
2015-02-13 2014-12-31 13F NATIONAL RETAIL PPTYS COM 637417106 3,025,307 -150,384 -4.74 119,107 8.49 0.0436
2014-12-16 2014-09-30 13F/A-1 NATIONAL RETAIL PPTYS COM 637417106 3,175,691 57,525 1.84 109,784 2.59 0.0422
2014-11-14 2014-09-30 13F NATIONAL RETAIL PPTYS COM 637417106 3,175,691 109,784
2014-05-13 2014-03-31 13F NATIONAL RETAIL PPTYS COM 637417106 3,118,166 1,098,780 54.41 107,015 74.72 0.0448
2014-02-13 2013-12-31 13F NATIONAL RETAIL PPTYS COM 637417106 2,019,386 162,492 8.75 61,248 3.66 0.0261
2013-11-13 2013-09-30 13F NATIONAL RETAIL PPTY INC COM 637417106 1,856,894 1,192,275 179.39 59,086 158.44 0.0279
2013-08-08 2013-06-30 13F NATIONAL RETAIL PPTY INC COM 637417106 664,619 664,619 22,863 0.0115
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.