Punch & Associates Investment Management’s Ares Commercial Real Estate ACRE Stock Holding History

Punch & Associates 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	-273,614	Closed	-$3.12M	–	182
2015 Q2	$3.12M	Sell	273,614 -26,804	-9%	-$308K	0.39%	109
2015 Q1	$3.32M	Sell	300,418 -57,782	-16%	-$684K	0.41%	98
2014 Q4	$4.11M	Buy	358,200 +20,185	+6%	+$239K	0.53%	82
2014 Q3	$3.95M	Buy	338,015 +2,463	+0.7%	+$30.6K	0.55%	77
2014 Q2	$4.16M	Buy	335,552 +332	+0.1%	+$4.21K	0.56%	67
2014 Q1	$4.5M	Buy	335,220 +285,620	+576%	+$3.83M	0.62%	61
2013 Q4	$650K	Buy	+49,600	New	+$638K	0.09%	164

Other funds holding ACRE

RIM

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

Boston Partners Boston, Massachusetts $95.5B AUM 28.4% 1-Year Est. Return

DFG

Delphi Financial Group Wilmington, Delaware $222M AUM 11.28% 1-Year Est. Return

BFA

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

Acadian Asset Management Boston, Massachusetts $70.5B AUM 36% 1-Year Est. Return

AllianceBernstein Nashville, Tennessee $309B AUM 23.92% 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 $1.66T AUM 25.57% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Punch & Associates Investment Management's ACRE Position: Q3 2015 in Review

Punch & Associates Investment Management sold out of Ares Commercial Real Estate (ACRE) in Q3 2015, closing a stake of 273,614 shares — an estimated $3.12M sold.

Punch & Associates Investment Management first reported a position in ACRE in Q4 2013 and held it in 7 quarters. The position peaked at $4.5M in Q1 2014. 100 funds tracked by Wall St. Rank hold ACRE as of Q3 2015.

Punch & Associates Investment Management reported no remaining Ares Commercial Real Estate position as of Q3 2015 after selling out during the quarter.
Punch & Associates Investment Management sold 273,614 Ares Commercial Real Estate shares in Q3 2015, an estimated $3.12M.
Punch & Associates Investment Management first reported a position in Ares Commercial Real Estate in Q4 2013 and held it in 7 quarters.
Punch & Associates Investment Management's Ares Commercial Real Estate position peaked at $4.5M in Q1 2014.
100 funds tracked by Wall St. Rank held Ares Commercial Real Estate as of Q3 2015.

Based on Punch & Associates Investment Management's 13F filing for Q3 2015, filed 13 Nov 2015.