New Mountain Net Lease Trust
What its SEC filings show.
New Mountain Net Lease Trust is a non-traded REIT registered with the SEC under CIK 2033695 (incorporated in MD). Its most recent filing is an ABS-15G dated Nov 6, 2026. As of Sep 30, 2026 it reported total assets of $1.91B (up 36.9% from $1.40B a year earlier) and stockholders' equity of $550.3M. Net income (loss) for the nine months to Sep 30, 2026 was $10.9M. It raised $170.6M from new shares in the nine months to Sep 30, 2026; paid $41.0M in distributions in the nine months to Sep 30, 2026; spent $6.1M repurchasing shares in the nine months to Sep 30, 2026.
What the figures say together
Our arithmetic on the issuer's own figures, only pairing numbers from the same period or date, and ranked against the 111 other vehicles of this type we track.
- Cash from operations was $63.4M against $41.0M of distributions paid in the nine months to Sep 30, 2026: operations covered 155% of the payout. It ranks 20th of the 34 vehicles of this type that report the same figures (1st = best covered).
- In the nine months to Sep 30, 2026 it raised $170.6M and paid $6.1M to buy back shares: a net inflow of $164.5M.
- Liabilities were 68% of total assets at Sep 30, 2026. It ranks 46th of the 77 vehicles of this type that report the same figures (1st = least leveraged).
- The management fee ran at about 1.28% a year of stockholders' equity ($5.2M in the nine months to Sep 30, 2026, annualised; our arithmetic). It ranks 11th of the 22 vehicles of this type that report the same figures (1st = lowest fee).
Key figures, as filed.
| Figure | Latest | Period | A year earlier | Change | Source |
|---|---|---|---|---|---|
| Total assets | $1.91B | as of Sep 30, 2026 | $1.40B | +36.9% | 10-Q · Nov 6, 2026 |
| Real estate, net | $1.69B | as of Sep 30, 2026 | $1.26B | +34.4% | 10-Q · Nov 6, 2026 |
| Cash and equivalents | $10.2M | as of Sep 30, 2026 | $559K | +1722.9% | 10-Q · Nov 6, 2026 |
| Total liabilities | $1.29B | as of Sep 30, 2026 | $968.5M | +33.4% | 10-Q · Nov 6, 2026 |
| Long-term debt | $1.23B | as of Sep 30, 2026 | $923.1M | +32.7% | 10-Q · Nov 6, 2026 |
| Debt (carrying amount) | $1.03B | as of Sep 30, 2026 | — | — | 10-Q · Nov 6, 2026 |
| Stockholders' equity | $550.3M | as of Sep 30, 2026 | $368.9M | +49.2% | 10-Q · Nov 6, 2026 |
| Shares outstanding | 41.6M shares | as of Sep 30, 2026 | 30.3M shares | +37.3% | 10-Q · Nov 6, 2026 |
| Figure | Latest | Period | A year earlier | Change | Source |
|---|---|---|---|---|---|
| Revenues | $97.9M | nine months to Sep 30, 2026 | $81.7M | +19.8% | 10-Q · Nov 6, 2026 |
| Net income (loss) | $10.9M | nine months to Sep 30, 2026 | $11.9M | −8.3% | 10-Q · Nov 6, 2026 |
| Cash from operations | $63.4M | nine months to Sep 30, 2026 | $39.9M | +59.1% | 10-Q · Nov 6, 2026 |
| Management fees | $5.2M | nine months to Sep 30, 2026 | $3.3M | +59.2% | 10-Q · Nov 6, 2026 |
| Figure | Latest | Period | A year earlier | Change | Source |
|---|---|---|---|---|---|
| Capital raised (common stock issued) | $170.6M | nine months to Sep 30, 2026 | $66.7M | +155.9% | 10-Q · Nov 6, 2026 |
| Distributions paid to common | $41.0M | nine months to Sep 30, 2026 | $29.3M | +39.6% | 10-Q · Nov 6, 2026 |
| Distributions declared per share | $1.39 | nine months to Sep 30, 2026 | $1.20 | +15.7% | 10-Q · Nov 6, 2026 |
| Share repurchases (cash paid) | $6.1M | nine months to Sep 30, 2026 | $270.6M | −97.7% | 10-Q · Nov 6, 2026 |
| Shares repurchased | 302,620 shares | nine months to Sep 30, 2026 | 13.5M shares | −97.8% | 10-Q · Nov 6, 2026 |
Flows (revenues, income, cash, distributions, repurchases) are shown for the period the issuer reported them in, which may be a quarter, a year-to-date span or a full year; “a year earlier” compares only periods of the same length. A vehicle that does not tag a figure in XBRL will not show it here even if the PDF discloses it.
Filing timeline.
The last 25 documents this issuer filed with the SEC. Marked rows are the ones that tend to matter to holders.
- Nov 6, 2026ABS-15G · FilingItems 2.01EDGAR ↗
- Nov 6, 202610-Q · Quarterly reportEDGAR ↗
- Nov 4, 20268-K · Current reportItems 3.02EDGAR ↗
- Oct 30, 20268-K · Current reportItems 7.01EDGAR ↗
- Oct 16, 20268-K · Current reportItems 1.01EDGAR ↗
- Oct 7, 20268-K · Current reportItems 3.02EDGAR ↗
- Sep 30, 20268-K · Current reportItems 7.01EDGAR ↗
- Sep 8, 20268-K · Current reportItems 3.02EDGAR ↗
- Aug 31, 20268-K · Current reportItems 7.01EDGAR ↗
- Aug 6, 20268-K · Current reportItems 3.02EDGAR ↗
- Aug 3, 20268-K · Current reportItems 7.01EDGAR ↗
- Jul 30, 202610-Q · Quarterly reportEDGAR ↗
- Jul 22, 2026ABS-15G · FilingItems 2.01EDGAR ↗
- Jul 7, 20268-K · Current reportItems 3.02EDGAR ↗
- Jun 30, 20268-K · Current reportItems 7.01EDGAR ↗
- Jun 5, 20268-K · Current reportItems 3.02EDGAR ↗
- May 29, 20268-K · Current reportItems 7.01EDGAR ↗
- May 12, 202610-Q · Quarterly reportEDGAR ↗
- May 6, 20268-K · Current reportItems 3.02EDGAR ↗
- Apr 30, 20268-K · Current reportItems 7.01EDGAR ↗
- Apr 6, 20268-K · Current reportItems 3.02EDGAR ↗
- Mar 31, 20268-K · Current reportItems 7.01EDGAR ↗
- Mar 31, 202610-K · Annual reportEDGAR ↗
- Mar 17, 20264/A · OWNERSHIP DOCUMENTEDGAR ↗
- Mar 4, 20268-K · Current reportItems 3.02EDGAR ↗
Our reads on New Mountain Net Lease Trust.
Source: SEC EDGAR, XBRL company facts and filing index for CIK 2033695, retrieved Nov 10, 2026. Figures are reproduced as tagged by the issuer; errors in the source carry through, which is why every row links to the filing. Nothing here is investment advice.
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