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ACRE

Ares Commercial Real Estate
ACRE

88 hedge funds and large institutions have $221M invested in Ares Commercial Real Estate in 2013 Q4 according to their latest regulatory filings, with 22 funds opening new positions, 35 increasing their positions, 22 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

120% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 10

59% more repeat investments, than reductions

Existing positions increased: 35 | Existing positions reduced: 22

33% more funds holding in top 10

Funds holding in top 10: 3 → 4 (+1)

25% more capital invested

Capital invested by funds: $176M → $221M (+$44.7M)

14% more funds holding

Funds holding: 77 → 88 (+11)

8.13% more ownership

Funds ownership: 51.22% → 59.35% (+8.1%)

81% less call options, than puts

Call options by funds: $775K | Put options by funds: $4.13M

Holders
88
Holders Change
+11
Holders Change %
+14.29%
% of All Funds
2.55%
Holding in Top 10
4
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+33.33%
% of All Funds
0.12%
New
22
Increased
35
Reduced
22
Closed
10
Calls
$775K
Puts
$4.13M
Net Calls
-$3.35M
Net Calls Change
-$982K

Top Buyers

Rank Fund Capital Flow
1
FCM
Frontier Capital Management
Massachusetts
+$8.91M
2
DFG
Delphi Financial Group
Delaware
+$4.86M
3
Renaissance Technologies
Renaissance Technologies
New York
+$3.77M
4
BIT
BlackRock Institutional Trust
California
+$3.33M
5
SONJCPFA
State of New Jersey Common Pension Fund A
New Jersey
+$1.86M

Top Sellers

Rank Fund Capital Flow
1
SONJCPFE
State of New Jersey Common Pension Fund E
New Jersey
-$7.77M
2
AM
Ares Management
California
-$6.21M
3
Morgan Stanley
Morgan Stanley
New York
-$1.64M
4
PG
PEAK6 Group
Illinois
-$1.62M
5
MCA
Mendon Capital Advisors
Florida
-$1.46M
Name Holding Trade Value Shares
Change 		Change in
Stake
Susquehanna International Group
26
Susquehanna International Group
Pennsylvania
$1.78M +$1.55M +120,300 +786%
RFC
27
Russell Frank Company
Washington
$1.67M +$546K +42,447 +49%
AC
28
Alleghany Corporation
New York
$1.64M +$1.61M +125,115 New
California Public Employees Retirement System
29
California Public Employees Retirement System
California
$1.46M +$1.42M +110,600 +12,289%
Wells Fargo
30
Wells Fargo
California
$1.42M +$822K +63,895 +144%
DRZID
31
DePrince Race & Zollo Inc (DRZ)
Florida
$1.35M -$27K -2,100 -2%
Bank of New York Mellon
32
Bank of New York Mellon
New York
$1.35M +$17K +1,323 +1%
Alyeska Investment Group
33
Alyeska Investment Group
Illinois
$1.31M +$1.29M +100,000 New
QI
34
Quotient Investors
New York
$1.27M +$1.25M +96,900 New
TCIM
35
TIAA CREF Investment Management
New York
$1.22M +$320K +24,900 +37%
Bank of America
36
Bank of America
North Carolina
$1.18M -$77.8K -6,049 -6%
Prudential Financial
37
Prudential Financial
New Jersey
$1.18M +$661K +51,400 +134%
Two Sigma Investments
38
Two Sigma Investments
New York
$995K +$977K +75,959 New
CA
39
Corrado Advisors
New Jersey
$989K +$304K +23,657 +46%
BIM
40
BlackRock Investment Management
Delaware
$954K -$6.43K -500 -0.7%
PCM
41
Prelude Capital Management
New York
$904K +$102K +7,950 +13%
CHAM
42
Clear Harbor Asset Management
Connecticut
$874K +$858K +66,700 New
GC
43
Guggenheim Capital
Illinois
$863K -$1.13M -87,866 -57%
CCA
44
Catalyst Capital Advisors
New York
$825K – – –
D.E. Shaw & Co
45
D.E. Shaw & Co
New York
$752K +$738K +57,408 New
CCP
46
Clough Capital Partners
Massachusetts
$673K – – –
PG
47
PEAK6 Group
Illinois
$655K -$1.62M -126,344 -72%
PAIM
48
Punch & Associates Investment Management
Minnesota
$650K +$638K +49,600 New
Deutsche Bank
49
Deutsche Bank
Germany
$634K +$203K +15,749 +48%
DCM
50
Dialectic Capital Management
Connecticut
$570K -$212K -16,500 -28%
1
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ACRE Hedge Fund Activity: Q4 2013 in Review

88 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q4 2013, worth a combined $221M — up 25% from $176M a quarter earlier.

Buyers outnumbered sellers: 22 funds opened new ACRE positions and 10 closed out — a net gain of 12 holders — while 35 added to existing stakes and 22 trimmed.

The largest buyer was Frontier Capital Management, opening a new position worth an estimated $8.91M. The largest seller was State of New Jersey Common Pension Fund E, exiting entirely with an estimated $7.77M sold.

  • 88 institutional investors held Ares Commercial Real Estate (ACRE) as of Q4 2013, up from 77 in Q3 2013.
  • Funds reported $221M of Ares Commercial Real Estate stock for Q4 2013, up 25% quarter-over-quarter.
  • 22 funds opened new Ares Commercial Real Estate positions in Q4 2013 and 10 closed out, a net change of +12 holders.
  • The largest Ares Commercial Real Estate buyer in Q4 2013 was Frontier Capital Management, an estimated $8.91M added.
  • The largest Ares Commercial Real Estate seller in Q4 2013 was State of New Jersey Common Pension Fund E, an estimated $7.77M sold.

Based on aggregated 13F filings for Q4 2013.