Cliff Asness's NNN Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 3.69 M shares of NNN REIT, Inc. (NNN) worth $146.34 M, representing 0.08% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 53 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in NNN, representing a significant commitment to this investment thesis. Largest addition occurred in Q3 2025, adding 1.49 M shares. Largest reduction occurred in Q4 2017, reducing 147,684 shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's NNN REIT (NNN) Holding Value Over Time
Track share changes against reported price movement
Quarterly NNN REIT (NNN) Trades by Cliff Asness
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | +411,769 | Add 12.55% | 3.69 M | $39.63 |
| Q3 2025 | +1.49 M | Add 82.85% | 3.28 M | $42.31 |
| Q2 2025 | +565,610 | Add 46.03% | 1.79 M | $42.71 |
| Q1 2025 | +361,989 | Add 41.76% | 1.23 M | $42.43 |
| Q4 2024 | -98,628 | Reduce 10.22% | 866,763 | $40.67 |
| Q3 2024 | +23,898 | Add 2.54% | 965,391 | $48.06 |
| Q2 2024 | +57,042 | Add 6.45% | 941,493 | $42.19 |
| Q1 2024 | -35,149 | Reduce 3.82% | 884,451 | $42.74 |
| Q4 2023 | +205,129 | Add 28.71% | 919,600 | $43.10 |
| Q3 2023 | +342,330 | Add 91.99% | 714,471 | $35.34 |
| Q2 2023 | +35,964 | Add 10.70% | 372,141 | $42.79 |
| Q1 2023 | +108,657 | Add 47.76% | 336,177 | $43.62 |
| Q4 2022 | -22,712 | Reduce 9.08% | 227,520 | $45.49 |
| Q3 2022 | +2,545 | Add 1.03% | 250,232 | $39.62 |
| Q2 2022 | -114,474 | Reduce 31.61% | 247,687 | $43.00 |
| Q1 2022 | -20,243 | Reduce 5.29% | 362,161 | $44.94 |
| Q4 2021 | -20,441 | Reduce 5.07% | 382,404 | $48.07 |
| Q3 2021 | +5,469 | Add 1.38% | 402,845 | $43.19 |
| Q2 2021 | +140,151 | Add 54.49% | 397,376 | $46.88 |
| Q1 2021 | +228,873 | Add 807.26% | 257,225 | $44.07 |
| Q4 2020 | +6,660 | Add 30.70% | 28,352 | $40.67 |
| Q3 2020 | +14,665 | Add 208.70% | 21,692 | $34.53 |
| Q2 2020 | -17,498 | Reduce 71.35% | 7,027 | $35.29 |
| Q1 2020 | -28,487 | Reduce 53.74% | 24,525 | $32.17 |
| Q4 2019 | -8,084 | Reduce 13.23% | 53,012 | $53.63 |
| Q3 2019 | -1,350 | Reduce 2.16% | 61,096 | $56.40 |
| Q2 2019 | -10,279 | Reduce 14.13% | 62,446 | $53.01 |
| Q1 2019 | +32,473 | Add 80.67% | 72,725 | $55.39 |
| Q4 2018 | -5,524 | Reduce 12.07% | 40,252 | $48.52 |
| Q3 2018 | -3,349 | Reduce 6.82% | 45,776 | $44.83 |
| Q2 2018 | -22,878 | Reduce 31.77% | 49,125 | $43.95 |
| Q1 2018 | -143,445 | Reduce 66.58% | 72,003 | $39.26 |
| Q4 2017 | -147,684 | Reduce 40.67% | 215,448 | $43.13 |
| Q3 2017 | +125,359 | Add 52.72% | 363,132 | $41.66 |
| Q2 2017 | +91,278 | Add 62.31% | 237,773 | $39.10 |
| Q1 2017 | +39,659 | Add 37.12% | 146,495 | $43.63 |
| Q4 2016 | -2,682 | Reduce 2.45% | 106,836 | $44.20 |
| Q3 2016 | +3,564 | Add 3.36% | 109,518 | $50.85 |
| Q2 2016 | +64,150 | Add 153.45% | 105,954 | $51.72 |
| Q1 2016 | -5,538 | Reduce 11.70% | 41,804 | $46.19 |
| Q4 2015 | -2,481 | Reduce 4.98% | 47,342 | $40.05 |
| Q3 2015 | -11,113 | Reduce 18.24% | 49,823 | $36.27 |
| Q2 2015 | -8,564 | Reduce 12.32% | 60,936 | $35.00 |
| Q1 2015 | +34,300 | Add 97.44% | 69,500 | $40.96 |
| Q4 2014 | -10,447 | Reduce 22.89% | 35,200 | $39.38 |
| Q3 2014 | +2,600 | Add 6.04% | 45,647 | $34.57 |
| Q2 2014 | -3,800 | Reduce 8.11% | 43,047 | $37.19 |
| Q1 2014 | -6,114 | Reduce 11.54% | 46,847 | $34.32 |
| Q4 2013 | -28,846 | Reduce 35.26% | 52,961 | $30.32 |
| Q3 2013 | +3,914 | Add 5.02% | 81,807 | $31.82 |
| Q2 2013 | +77,893 | Add 0.00% | 77,893 | $34.41 |
| Q4 2012 | +48,747 | Add 0.00% | 48,747 | $31.20 |
Cliff Asness's NNN REIT Investment FAQs
Cliff Asness first purchased NNN REIT, Inc. (NNN) in Q4 2012, acquiring 48,747 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held NNN REIT, Inc. (NNN) for 53 quarters since Q4 2012.
Cliff Asness's largest addition to NNN REIT, Inc. (NNN) was in Q3 2025, adding 3,281,014 shares worth $138.82 M.
According to the latest 13F filing for Q4 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 3,692,783 shares of NNN REIT, Inc. (NNN), valued at approximately $146.34 M.
As of the Q4 2025 filing, NNN REIT, Inc. (NNN) represents approximately 0.08% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings.
Cliff Asness's peak holding in NNN REIT, Inc. (NNN) was 3,692,783 shares, as reported at the end of Q4 2025.