Realty Income Corporation

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 1,419 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Holdings scope. Unlike some REITs in this project (e.g. Welltower, which discloses only four segment-level combined equity-method totals with no individual venture named), Realty Income's Q2 2026 10-Q Note 4 'Investments in Unconsolidated Entities' and the FY2025 10-K Note 5 both name each individual unconsolidated venture with its own ownership percentage and carrying amount: Data Center Joint Venture (80.0%, with Digital Realty Trust, Inc.), Bellagio Las Vegas Joint Venture Common Equity Interest (21.9%), Bellagio Las Vegas Joint Venture Preferred Equity Interest (n/a%), and Passport Park Joint Venture (95.0%, with Trammell Crow Company). All four are recorded as holdings above with per-venture figures actually stated in the filing; none of the four combines multiple unnamed investees into one number. The four rows sum exactly to the balance-sheet total 'Investment in unconsolidated entities' of $1,348,453,000 at 30 Jun 2026 ($348,861,000 + $242,877,000 + $650,000,000 + $106,715,000), confirming these four are the complete disaggregation Realty Income provides.
• Excluded as consolidated, not a holding: U.S. Core Plus Fund (the 'Fund'), Realty Income's strategic joint venture with Apollo Global Management, Inc. and Realty Income, L.P. Realty Income is the primary beneficiary of this VIE (it has both the power to direct the Fund's significant activities, through its role as sole exclusive Manager independent of its equity ownership, and the obligation to absorb losses/right to receive benefits), so the Fund is consolidated rather than equity-method, per the Q2 2026 10-Q. Consolidated VIE selected financial data disclosed separately (net real estate $7.35 billion, total assets $8.48 billion, total liabilities $0.99 billion at 30 Jun 2026) is not a holding under the brief's exclusion of controlled operating subsidiaries.
• Confirmed no loans recorded as equity, and one preferred-equity investment deliberately kept in (not excluded as a loan). Realty Income's Note 5 'Investments in Loans and Financing Receivables' (its actual loan book, mezzanine/unsecured loans, ADC arrangements) was checked and is structurally separate from Note 4's equity-method investments; nothing from Note 5 is recorded as a holding here. The one preferred-equity position that is recorded (Bellagio Las Vegas Joint Venture, preferred equity, $650,000,000) sits inside Note 4's equity-method balance on Realty Income's own balance sheet, not inside Note 5, even though its income is labeled 'interest and dividend income on loans and preferred equity investments' in the income statement; the balance-sheet classification, not the income-statement label, was used to decide this is equity rather than a loan.
• Thousands-convention check (rule 10). Implied price per share (value_usd / shares) was computed for every Q2 2026 13F register row: all thirteen non-Vanguard, non-Vanguard-successor lines cluster between $61.96 and $63.05 per share, consistent with the 10-Q's own stated $61.96 NYSE closing price for O on 30 Jun 2026. Cohen & Steers' raw XML value implied $0.062/share (about 1000x low) and T. Rowe Price's raw XML value also implied $0.062/share (about 1000x low); both report VALUE in thousands of dollars. Cohen & Steers is rescaled to 6,712,849 shares / $415,928,000 ($61.96/share) and is included as a top-12 register row above. T. Rowe Price is rescaled to 1,338,537 shares / $82,936,000 ($61.95/share) but ranks below the top 12 by share count and is not included as a register row; see unknowns.
• Vanguard case: 13F-NT successor case, same pattern as this project's Welltower file. Vanguard Group Inc's own Q2 2026 EDGAR submissions history shows Form 13F-NT filed 13 Aug 2026 (accession 0000102909-26-002714), a notice filing with no holdings. The register row above sums the two project-verified Vanguard successor CIKs, Vanguard Capital Management LLC and Vanguard Portfolio Management LLC, which each filed their own 13F-HR holding Realty Income shares. Per the binding rule for this case, the summed row is NOT marked is_aggregate: it is a family roll-up with no separate member rows elsewhere in this register, not a proxy container that other listed rows roll into.
• Capital Group: checked, holds none of Realty Income's stock in Q2 2026. All three project-verified Capital Group CIKs (Capital Research Global Investors 0001422848, Capital International Investors 0001562230, Capital World Investors 0001422849) were checked directly against CUSIP 756109104 and against the broader 'REALTY' fragment in their own Q2 2026 13F-HR information tables; none returned a match for Realty Income Corporation. Unlike this project's Welltower file (where all three Capital Group entities held Welltower), Capital Group is absent from Realty Income's register entirely and is not included as a row.
• MFS Investment Management: checked, holds none of Realty Income's stock in Q2 2026. MFS's Q2 2026 13F-HR information table was searched for 'REALTY INC' and, more broadly, 'REALTY' (which matched three unrelated issuers: Americold Realty Trust, Kimco Realty Corp, and Piedmont Realty Trust); CUSIP 756109104 does not appear anywhere in MFS's table.
• Register reconciliation against the proxy's stale >5% table. Realty Income's 2026 proxy statement (beneficial ownership as of 2 Mar 2026, citing earlier Schedule 13G filings) lists The Vanguard Group, Inc. at 113,920,044 shares (12.2%), BlackRock, Inc. at 91,615,098 shares (9.8%), and State Street Corporation at 61,025,701 shares (6.5%). This register instead uses each manager's Q2 2026 Form 13F-HR (30 Jun 2026 position date), which for all three names is meaningfully higher (Vanguard combined 143,963,814; BlackRock 112,931,238; State Street 65,929,425), consistent with continued accumulation and Vanguard's post-13G internal realignment into its successor filing entities.
• No fresh 2026 Schedule 13D/13G found. EDGAR's own SC 13D/13G filing list for CIK 0000726728 (browse-edgar atom feed) was checked; the entries returned are dated 2024 or earlier (routine annual amendments from State Street and BlackRock), so no activist filer or newly-crossed 5% threshold holder was found for 2026.
• Market cap and shares outstanding. shares_outstanding (946,218,033) is the Q2 2026 10-Q cover-page figure ('As of July 30, 2026, there were 946,218,033 shares of common stock outstanding'). share_price_usd (62.40) and market_cap_usd are from stockanalysis.com's 17 Aug 2026 4:00pm ET close ('Shares Outstanding: 945.90 million', close price $62.40, market cap $59.02 billion); market_cap_usd here is calculated as 946,218,033 x $62.40 = $59,044,005,259 using the 10-Q's filed share count rather than stockanalysis.com's own slightly lower rounded figure, so it differs marginally (about $20 million, or 0.03%) from stockanalysis.com's displayed $59.02 billion.
• Self-gate check: this register has 13 rows (12 institutional plus the insider group), none marked is_aggregate with a rolls_up_into member elsewhere in this file (Vanguard's two successor entities are pre-summed into one row rather than listed separately, so there is no double-count risk within this file). Summing all 13 rows' raw shares (143,963,814 + 112,931,238 + 65,929,425 + 31,265,152 + 19,117,994 + 14,440,511 + 13,069,240 + 12,978,009 + 11,068,868 + 9,614,803 + 6,712,849 + 6,221,941 + 1,134,486) gives 448,448,330 against 946,218,033 shares outstanding, or 47.39%. This is within the brief's 15-55% outer band and close to the 25-45% expected range; re-checked for a double count and found none, each of the twelve institutional names is a distinct manager (Vanguard's own successor entities and Capital Group's absence were both individually verified), so the concentration is read as a heavily institutionally-owned large-cap REIT, not a detected error.