Confluence Investment Management’s Ares Commercial Real Estate ACRE Stock Holding History

Confluence Investment Management’s Portfolio ACRE Stock Details ACRE Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q3	–	Sell	-10,000	Closed	-$114K	–	239
2015 Q2	$114K	Hold	10,000	–	–	﹤0.01%	237
2015 Q1	$110K	Sell	10,000 -10,000	-50%	-$118K	﹤0.01%	236
2014 Q4	$230K	Hold	20,000	–	–	0.01%	238
2014 Q3	$234K	Hold	20,000	–	–	0.01%	249
2014 Q2	$248K	Hold	20,000	–	–	0.01%	251
2014 Q1	$268K	Hold	20,000	–	–	0.01%	246
2013 Q4	$262K	Hold	20,000	–	–	0.01%	249
2013 Q3	$249K	Hold	20,000	–	–	0.02%	249
2013 Q2	$256K	Buy	+20,000	New	+$322K	0.02%	247

Other funds holding ACRE

RIM

RS Investment Management San Francisco, California $9.73B AUM 3.24% 1-Year Est. Return

Boston Partners Boston, Massachusetts $113B AUM 38.87% 1-Year Est. Return

DFG

Delphi Financial Group Wilmington, Delaware $202M AUM 21.25% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

Acadian Asset Management Boston, Massachusetts $84.2B AUM 55.88% 1-Year Est. Return

AllianceBernstein Nashville, Tennessee $302B AUM 26.44% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Forward Management San Francisco, California $907M AUM 0.46% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

State Street Boston, Massachusetts $3.38T AUM 44.17% 1-Year Est. Return

Confluence Investment Management's ACRE Position: Q3 2015 in Review

Confluence Investment Management sold out of Ares Commercial Real Estate (ACRE) in Q3 2015, closing a stake of 10,000 shares — an estimated $114K sold.

Confluence Investment Management first reported a position in ACRE in Q2 2013 and held it in 9 quarters. The position peaked at $268K in Q1 2014. 100 funds tracked by Wall St. Rank hold ACRE as of Q3 2015.

Confluence Investment Management reported no remaining Ares Commercial Real Estate position as of Q3 2015 after selling out during the quarter.
Confluence Investment Management sold 10,000 Ares Commercial Real Estate shares in Q3 2015, an estimated $114K.
Confluence Investment Management first reported a position in Ares Commercial Real Estate in Q2 2013 and held it in 9 quarters.
Confluence Investment Management's Ares Commercial Real Estate position peaked at $268K in Q1 2014.
100 funds tracked by Wall St. Rank held Ares Commercial Real Estate as of Q3 2015.

Based on Confluence Investment Management's 13F filing for Q3 2015, filed 4 Nov 2015.