TheRealReal, Inc. - Common Stock, par value $0.00001 per share (REAL) Institutional Ownership

13F Institutional Holders and Ownership History from Q1 2019 to Q4 2025

Type / Class: Equity / Common Stock, par value $0.00001 per share
Symbol: REAL on Nasdaq
Shares outstanding: 118,367,347
Price per share: $15.29
All holders as of 31 Dec 2025: Q4 2025
Total 13F shares: 116,110,920
Total reported value: $1,832,148,845
% of total 13F portfolios: 0.01%
Share change: +13,934,299
Value change: +$232,336,095
Number of holders: 232
Price from insider filings: $15.29

Reported Shares, Excluding Options vs Price

Reported Value, Excluding Options

Total Investors

Significant Owners of TheRealReal, Inc. - Common Stock, par value $0.00001 per share (REAL) based on Schedule 13D/G filings

Filer	Ownership	Change %	Holdings Value	Net Change	Nb Shares	Change %	Reporting Name	Report Period
FMR LLC	11%		$198,722,721		12,593,089		FMR LLC	31 Dec 2025
VANGUARD GROUP INC	5.1%		$63,033,848		5,929,807		The Vanguard Group	30 Sep 2025
RILEY TIMOTHY M	4.9%		$91,524,000		5,800,000		Timothy M. Riley	07 Jan 2026
Philotimo Fund, LP	3.9%	-32%	$26,206,533	-$12,409,620	4,296,153	-32%	Kanen David	28 Jan 2025
Woodson Capital Management, LP	3%	-48%	$37,205,000	-$28,154,926	3,500,000	-43%	Woodson Capital Management, LP	10 Sep 2025

As of 31 Dec 2025, 232 institutional investors reported holding 116,110,920 shares of TheRealReal, Inc. - Common Stock, par value $0.00001 per share (REAL). This represents 98% of the company’s total 118,367,347 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of TheRealReal, Inc. - Common Stock, par value $0.00001 per share (REAL) together control 69% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.

Institution	Ownership %	Shares Held	Share Change %	Portfolio %	Holdings Value
FMR LLC	11%	12,458,244	+2543%	0.01%	$196,591,095
BlackRock, Inc.	7.4%	8,767,874	+0.7%	0%	$138,357,051
VANGUARD GROUP INC	5.4%	6,336,596	+6.9%	0%	$99,991,486
Driehaus Capital Management LLC	4%	4,754,440	+54%	0.51%	$75,025,063
D. E. Shaw & Co., Inc.	3.8%	4,490,789	+7.2%	0.05%	$70,864,651
Divisadero Street Capital Management, LP	2.7%	3,150,443	+21%	2.9%	$49,713,991
BNP PARIBAS FINANCIAL MARKETS	2.5%	2,994,577	0%	0.03%	$47,254,425
AMERICAN CENTURY COMPANIES INC	2.4%	2,839,348	+54%	0.02%	$44,804,931
UBS Group AG	2.4%	2,812,487	+216%	0.01%	$44,381,045
STATE STREET CORP	2.3%	2,746,238	+4.2%	0%	$43,335,636
TWO SIGMA INVESTMENTS, LP	2.3%	2,718,631	+3.4%	0.06%	$42,899,997
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	2.2%	2,559,103		0.02%	$40,382,645
Woodson Capital Management, LP	2.1%	2,500,000	-29%	6.1%	$39,450,000
TWO SIGMA ADVISERS, LP	2.1%	2,448,800	+1.8%	0.08%	$38,642,064
GEODE CAPITAL MANAGEMENT, LLC	2.1%	2,447,182	+2.2%	0%	$38,623,503
MARSHALL WACE, LLP	1.9%	2,213,546	-41%	0.03%	$34,929,757
Nuveen, LLC	1.9%	2,208,709	+8.5%	0.01%	$34,853,427
GOLDMAN SACHS GROUP INC	1.8%	2,178,299	-32%	0%	$34,373,558
MASTERS CAPITAL MANAGEMENT LLC	1.7%	2,000,000	+100%	4.4%	$31,560,000
Kanen Wealth Management LLC	1.6%	1,858,310	-56%	9.1%	$29,335,000
JUPITER ASSET MANAGEMENT LTD	1.5%	1,812,763	-7.6%	0.23%	$28,605,400
CITADEL ADVISORS LLC	1.5%	1,770,420	-7.9%	0.02%	$27,937,227
AWM Investment Company, Inc.	1.2%	1,423,847	-0.7%	2.2%	$22,468,306
Squarepoint Ops LLC	1.2%	1,403,558	-12%	0.04%	$22,148,145
Crestwood Capital Management, L.P.	1.1%	1,343,081	-6.9%	13%	$21,193,818

Institutional Holders of TheRealReal, Inc. - Common Stock, par value $0.00001 per share (REAL) across Reporting Periods

Period	Reported Shares, Excl. Options	Value, Excl. Options	Value Change	Puts Notional Value	Calls Notional Value	Price (Median)	Investors
2025 Q4	116,110,920	$1,832,148,845	+$232,336,095	$24,697,278	$52,346,615	$15.78	232
2025 Q3	102,421,319	$1,088,503,600	+$89,672,567	$15,712,445	$35,652,830	$10.63	220
2025 Q2	94,883,554	$454,565,461	+$18,385,426	$6,695,153	$15,578,198	$4.79	200
2025 Q1	90,973,451	$490,360,797	+$42,551,968	$7,653,855	$23,804,319	$5.39	207
2024 Q4	76,943,468	$841,191,134	+$73,569,971	$16,417,400	$99,633,841	$10.93	187
2024 Q3	72,816,351	$228,632,008	+$9,249,262	$1,062,198	$22,629,637	$3.14	154
2024 Q2	69,642,160	$222,170,008	+$20,910,785	$1,537,580	$22,215,303	$3.19	151
2024 Q1	62,373,902	$243,864,856	+$40,929,279	$10,463,942	$29,166,039	$3.91	149
2023 Q4	54,347,770	$109,234,702	+$18,264,704	$9,134,847	$1,190,925	$2.01	130
2023 Q3	45,732,247	$96,492,574	+$553,174	$2,490,011	$2,596,566	$2.11	135
2023 Q2	45,266,681	$100,522,167	-$9,677,093	$775,002	$2,302,752	$2.22	127
2023 Q1	53,432,570	$67,266,980	-$5,608,252	$149,310	$365,274	$1.26	133
2022 Q4	58,013,119	$72,539,803	-$10,850,634	$172,625	$478,375	$1.25	131
2022 Q3	65,140,268	$97,754,050	-$33,883,048	$424,000	$2,319,000	$1.50	140
2022 Q2	80,873,964	$201,517,823	-$42,790,813	$1,329,000	$9,827,000	$2.49	166
2022 Q1	82,842,296	$603,427,511	-$12,608,933	$2,935,300	$8,248,944	$7.26	172
2021 Q4	81,322,663	$944,225,404	-$57,915,229	$11,028,000	$30,463,000	$11.61	177
2021 Q3	84,299,878	$1,110,952,632	-$138,187,421	$19,105,000	$19,116,000	$13.18	162
2021 Q2	90,415,500	$1,786,298,453	+$84,911,078	$11,570,000	$45,141,272	$19.76	172
2021 Q1	85,513,855	$1,934,771,709	+$237,862,318	$12,148,000	$28,132,562	$22.63	177
2020 Q4	75,576,685	$1,476,779,014	+$64,466,584	$6,659,000	$24,894,000	$19.54	171
2020 Q3	74,455,622	$1,079,468,433	+$39,760,239	$5,218,000	$8,627,000	$14.47	143
2020 Q2	72,078,784	$921,916,935	+$154,312,580	$4,149,000	$9,254,000	$12.79	133
2020 Q1	63,108,894	$442,397,211	-$83,044,077	$3,224,000	$1,601,000	$7.01	117
2019 Q4	55,738,717	$1,050,414,607	+$53,216,981	$42,413,000	$12,360,000	$18.85	102
2019 Q3	42,728,336	$954,673,275	+$334,438,226	$25,336,000	$17,523,000	$22.36	107
2019 Q2	26,543,064	$767,078,922	+$767,077,923			$28.90	99
2019 Q1	29	$1,000				$34.48	1