The RealReal, Inc.
US ˙ NasdaqGS ˙ US88339P1012

SecurityREAL / The RealReal, Inc.
InstitutionDriehaus Capital Management Llc
Latest Disclosed Ownership2,340,520 shares
Latest Disclosed Value $ 21,251,922
Driehaus Capital Management Llc reports 50.77% decrease in ownership of REAL / The RealReal, Inc.

On May 15, 2026 - Driehaus Capital Management Llc filed a 13F-HR form disclosing ownership of 2,340,520 shares of The RealReal, Inc. (US:REAL) valued at $21,251,922 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 4,754,440 shares of The RealReal, Inc.. This represents a change in shares of -50.77% during the quarter. The current value of the position is $21,345,542 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 RealReal COM 88339P101 2,340,520 -2,413,920 -50.77 21,252 -71.67 0.1557
2026-02-17 2025-12-31 13F RealReal COM 88339P101 4,754,440 1,660,008 53.64 75,025 128.09 0.5096
2025-11-14 2025-09-30 13F REALREAL COM 88339P101 3,094,432 1,425,006 85.36 32,894 311.37 0.2356
2025-08-14 2025-06-30 13F REALREAL COM 88339P101 1,669,426 -141,225 -7.80 7,997 -18.07 0.0640
2025-05-15 2025-03-31 13F REALREAL COM 88339P101 1,810,651 861,902 90.85 9,759 -5.88 0.0941
2025-02-14 2024-12-31 13F REALREAL COM 88339P101 948,749 948,749 10,370 0.0856
2021-05-17 2021-03-31 13F REALREAL COM 88339P101 0 -107,800 -100.00 0 -100.00
2021-02-16 2020-12-31 13F REALREAL COM 88339P101 107,800 -45,300 -29.59 2,106 -4.92 0.0340
2020-11-16 2020-09-30 13F REALREAL COM 88339P101 153,100 153,100 2,215 0.0455
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.