State of Wisconsin Investment Board’s Ares Commercial Real Estate ACRE Stock Holding History

State of Wisconsin Investment Board’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
2025 Q3	–	Sell	-52,657	Closed	-$251K	–	2368
2025 Q2	$251K	Buy	+52,657	New	+$234K	﹤0.01%	2130
2022 Q3	–	Sell	-12,425	Closed	-$152K	–	2683
2022 Q2	$152K	Sell	12,425 -20,675	-62%	-$300K	﹤0.01%	2560
2022 Q1	$514K	Buy	33,100 +19,400	+142%	+$285K	﹤0.01%	1851
2021 Q4	$199K	Sell	13,700 -7,900	-37%	-$120K	﹤0.01%	2092
2021 Q3	$326K	Hold	21,600	–	–	﹤0.01%	1876
2021 Q2	$317K	Buy	+21,600	New	+$324K	﹤0.01%	1908
2021 Q1	–	Sell	-27,300	Closed	-$325K	–	2022
2020 Q4	$325K	Sell	27,300 -8,200	-23%	-$87.6K	﹤0.01%	1745
2020 Q3	$324K	Buy	+35,500	New	+$333K	﹤0.01%	1750
2020 Q2	–	Sell	-12,100	Closed	-$85K	–	1711
2020 Q1	$85K	Buy	+12,100	New	+$171K	﹤0.01%	1657

Other funds holding ACRE

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

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

Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return

Hotchkis & Wiley Capital Management Los Angeles, California $32.4B AUM 17.21% 1-Year Est. Return

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

CF Capital Cohasset, Massachusetts $83M AUM 14.05% 1-Year Est. Return

CWA

Cura Wealth Advisors Chicago, Illinois $234M AUM 5.19% 1-Year Est. Return

Northern Trust Chicago, Illinois $757B AUM 28.64% 1-Year Est. Return

BAMF

BI Asset Management Fondsmaeglerselskab Kobenhavn, Denmark $9.55B AUM 31.94% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

State of Wisconsin Investment Board's ACRE Position: Q3 2025 in Review

State of Wisconsin Investment Board sold out of Ares Commercial Real Estate (ACRE) in Q3 2025, closing a stake of 52,657 shares — an estimated $251K sold.

State of Wisconsin Investment Board first reported a position in ACRE in Q1 2020 and held it in 9 quarters. The position peaked at $514K in Q1 2022. 143 funds tracked by Wall St. Rank hold ACRE as of Q3 2025.

State of Wisconsin Investment Board reported no remaining Ares Commercial Real Estate position as of Q3 2025 after selling out during the quarter.
State of Wisconsin Investment Board sold 52,657 Ares Commercial Real Estate shares in Q3 2025, an estimated $251K.
State of Wisconsin Investment Board first reported a position in Ares Commercial Real Estate in Q1 2020 and held it in 9 quarters.
State of Wisconsin Investment Board's Ares Commercial Real Estate position peaked at $514K in Q1 2022.
143 funds tracked by Wall St. Rank held Ares Commercial Real Estate as of Q3 2025.

Based on State of Wisconsin Investment Board's 13F filing for Q3 2025, filed 14 Nov 2025.