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ACRE

Ares Commercial Real Estate
ACRE

90 hedge funds and large institutions have $218M invested in Ares Commercial Real Estate in 2014 Q2 according to their latest regulatory filings, with 11 funds opening new positions, 34 increasing their positions, 28 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

21% more repeat investments, than reductions

Existing positions increased: 34 | Existing positions reduced: 28

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

0.9% less ownership

Funds ownership: 62.48% → 61.58% (-0.9%)

3% less funds holding

Funds holding: 93 → 90 (-3)

9% less capital invested

Capital invested by funds: $239M → $218M (-$20.6M)

15% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 13

99% less call options, than puts

Call options by funds: $7K | Put options by funds: $1.02M

Holders
90
Holders Change
-3
Holders Change %
-3.23%
% of All Funds
2.59%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.09%
New
11
Increased
34
Reduced
28
Closed
13
Calls
$7K
Puts
$1.02M
Net Calls
-$1.01M
Net Calls Change
-$70K

Top Buyers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
+$6.04M
2
MCP
Moab Capital Partners
New York
+$5.67M
3
CHAM
Clear Harbor Asset Management
Connecticut
+$3.16M
4
EWM
Edge Wealth Management
New York
+$2.51M
5
RIM
RS Investment Management
California
+$2.19M

Top Sellers

Rank Fund Capital Flow
1
ICM
Indaba Capital Management
California
-$14.9M
2
O
OppenheimerFunds
New York
-$6.66M
3
CS
Credit Suisse
Switzerland
-$2.1M
4
Bank of America
Bank of America
North Carolina
-$2M
5
SCM
Silver Capital Management
New York
-$1.54M
Name Holding Trade Value Shares
Change 		Change in
Stake
RFC
26
Russell Frank Company
Washington
$1.96M – – –
Citadel Advisors
27
Citadel Advisors
Florida
$1.59M +$680K +53,714 +72%
AC
28
Alleghany Corporation
New York
$1.55M – – –
Bank of New York Mellon
29
Bank of New York Mellon
New York
$1.54M +$144K +11,334 +10%
TCIM
30
TIAA CREF Investment Management
New York
$1.49M +$344K +27,182 +29%
AllianceBernstein
31
AllianceBernstein
Tennessee
$1.43M +$1.45M +114,408 +15,440%
CS
32
Credit Suisse
Switzerland
$1.42M -$2.1M -165,748 -59%
State of New Jersey Common Pension Fund D
33
State of New Jersey Common Pension Fund D
New Jersey
$1.24M +$1.27M +100,000 New
BIM
34
BlackRock Investment Management
Delaware
$1.14M +$221K +17,437 +23%
CA
35
Corrado Advisors
New Jersey
$1.14M +$89.4K +7,059 +8%
Bank of America
36
Bank of America
North Carolina
$952K -$2M -158,121 -67%
Prudential Financial
37
Prudential Financial
New Jersey
$881K -$10.1K -800 -1%
MC
38
Menta Capital
California
$786K +$802K +63,300 New
GC
39
Guggenheim Capital
Illinois
$769K -$33.5K -2,641 -4%
California State Teachers Retirement System (CalSTRS)
40
California State Teachers Retirement System (CalSTRS)
California
$648K +$171K +13,500 +35%
CCP
41
Clough Capital Partners
Massachusetts
$638K – – –
MCA
42
Mendon Capital Advisors
Florida
$621K -$317K -25,000 -33%
CP
43
Camelot Portfolios
Ohio
$567K +$49.7K +3,922 +9%
Two Sigma Investments
44
Two Sigma Investments
New York
$549K +$560K +44,217 New
Charles Schwab
45
Charles Schwab
California
$520K +$144K +11,400 +37%
TA
46
Teachers Advisors
New York
$446K +$51.8K +4,091 +13%
Deutsche Bank
47
Deutsche Bank
Germany
$440K -$1.43M -112,631 -76%
RhumbLine Advisers
48
RhumbLine Advisers
Massachusetts
$367K +$134K +10,540 +55%
PPA
49
Parametric Portfolio Associates
Washington
$362K -$124K -9,774 -25%
Goldman Sachs
50
Goldman Sachs
New York
$332K +$339K +26,761 New
1
2
3 4 5

ACRE Hedge Fund Activity: Q2 2014 in Review

90 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q2 2014, worth a combined $218M — down 8.6% from $239M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of ACRE and 11 opened new positions — a net loss of 2 holders — while 28 trimmed existing stakes and 34 added.

The largest buyer was Millennium Management, opening a new position worth an estimated $6.04M. The largest seller was Indaba Capital Management, exiting entirely with an estimated $14.9M sold.

  • 90 institutional investors held Ares Commercial Real Estate (ACRE) as of Q2 2014, down from 93 in Q1 2014.
  • Funds reported $218M of Ares Commercial Real Estate stock for Q2 2014, down 8.6% quarter-over-quarter.
  • 11 funds opened new Ares Commercial Real Estate positions in Q2 2014 and 13 closed out, a net change of -2 holders.
  • The largest Ares Commercial Real Estate buyer in Q2 2014 was Millennium Management, an estimated $6.04M added.
  • The largest Ares Commercial Real Estate seller in Q2 2014 was Indaba Capital Management, an estimated $14.9M sold.

Based on aggregated 13F filings for Q2 2014.