Investment Portfolio Surge
Walleye Capital Dramatically Expands Real Estate, Retail Holdings in Q1 While Trimming Media Stakes.
Anonymous
Key Points
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In Q1, Walleye Capital LLC bought 169,556 additional shares of iShares U.S. Real Estate ETF (IYR), bringing its total stake to 180,000 shares worth about $17.021 million.
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Walleye Capital LLC added 94,478 shares to its Five Below, Inc. (FIVE) position in Q1, increasing the holding to 121,615 shares valued at about $27.787 million.
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Walleye Capital LLC sold 33,375 shares of Nexstar Media Group, Inc. (NXST) in Q1, reducing the stake to 83,172 shares worth about $15.040 million (roughly 0.27% of the company).
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Walleye Capital LLC trimmed ACV Auctions Inc. (ACVA) by 22.4% in Q1, selling 594,774 shares and ending with 2,058,536 shares valued at about $8.728 million.
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NXST also drew notable activity from other funds in the quarter, with Millennium Management increasing to 72,650 shares, UBS Asset Management increasing to 132,809 shares, MIRAE Asset Global ETFs Holdings to 15,870 shares, and Acadian Asset Management opening a new position valued at about $654,000.
Walleye Capital LLC made a dramatic move into real estate in the first quarter, boosting its stake in iShares U.S. Real Estate ETF (IYR) by 1,623.5%, according to Watchlist News. The firm now holds 180,000 shares worth about $17.0 million — up from just 10,444 shares at the end of last year.
At the same time, Walleye pushed deeper into consumer retail. It added 94,478 shares of Five Below, Inc. (FIVE), growing that position by 348.2% to 121,615 shares valued at roughly $27.8 million. The moves signal a clear tilt toward real estate and retail heading into Q2.
Walleye's Real Estate Bet Jumps 1,623% in One Quarter
The IYR purchase was one of the biggest percentage increases in Walleye's Q1 filings. The firm added 169,556 shares of the iShares U.S. Real Estate ETF in just three months, according to Watchlist News. IYR tracks a broad basket of U.S. real estate investment trusts, giving Walleye wide exposure to the property sector without picking individual stocks.
The $17.0 million stake is now one of Walleye's more notable ETF positions. Real estate has faced pressure from high interest rates, but some investors see value building. Walleye's move could reflect a bet that rates will ease and property stocks will rebound.
Five Below Position Triples as Retail Discount Play Grows
Walleye also piled into Five Below, the discount retail chain. It bought 94,478 new shares in Q1, bringing its total to 121,615 shares. That position is now worth about $27.8 million — making it Walleye's largest disclosed holding by dollar value in this filing round, per Watchlist News.
Five Below sells products mostly priced between $1 and $25. It tends to attract budget-conscious shoppers. With consumer spending under pressure in 2025, discount retailers like Five Below have drawn fresh interest from institutional investors looking for defensive plays.
Walleye Trims Nexstar and ACV Auctions Positions
Not all of Walleye's Q1 moves were buys. The firm sold 33,375 shares of Nexstar Media Group (NXST), cutting its stake by 28.6% to 83,172 shares worth about $15.0 million. That holding now equals roughly 0.27% of the company. Nexstar is one of the largest local TV broadcasters in the U.S.
Walleye also trimmed its ACV Auctions (ACVA) stake by 22.4%, selling 594,774 shares and ending the quarter with 2,058,536 shares valued at about $8.7 million. ACV runs a digital wholesale auto auction platform. Despite Walleye's cut, the stock remains one of its larger holdings by share count.
Other Funds Also Active in Nexstar During the Quarter
Walleye was not the only fund moving on Nexstar in Q1. Millennium Management grew its NXST position to 72,650 shares. UBS Asset Management increased to 132,809 shares. MIRAE Asset Global ETFs Holdings added shares to reach 15,870. Acadian Asset Management opened a brand-new position worth about $654,000, according to Watchlist News.
The mixed activity around Nexstar — with Walleye selling while others buy — reflects divided views on traditional media stocks. Broadcast TV faces long-term pressure from streaming, but Nexstar's local news dominance keeps some investors interested in the name.
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