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ACRE

Ares Commercial Real Estate
ACRE

100 hedge funds and large institutions have $225M invested in Ares Commercial Real Estate in 2015 Q3 according to their latest regulatory filings, with 23 funds opening new positions, 38 increasing their positions, 21 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

81% more repeat investments, than reductions

Existing positions increased: 38 | Existing positions reduced: 21

28% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 18

12% more capital invested

Capital invested by funds: $200M → $225M (+$24.3M)

5% more funds holding

Funds holding: 95 → 100 (+5)

3.38% more ownership

Funds ownership: 62.19% → 65.57% (+3.4%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
100
Holders Change
+5
Holders Change %
+5.26%
% of All Funds
2.79%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
23
Increased
38
Reduced
21
Closed
18
Calls
$46K
Puts
–
Net Calls
+$46K
Net Calls Change
+$46K

Top Buyers

Rank Fund Capital Flow
1
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$12.3M
2
RIM
RS Investment Management
California
+$7.01M
3
Renaissance Technologies
Renaissance Technologies
New York
+$4.19M
4
IG
ING Group
Netherlands
+$3.45M
5
Morgan Stanley
Morgan Stanley
New York
+$2.31M

Top Sellers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
-$6.18M
2
CHAM
Clear Harbor Asset Management
Connecticut
-$5.94M
3
MCP
Moab Capital Partners
New York
-$5.82M
4
PAIM
Punch & Associates Investment Management
Minnesota
-$3.12M
5
Balyasny Asset Management
Balyasny Asset Management
Illinois
-$2.63M
Name Holding Trade Value Shares
Change 		Change in
Stake
AC
26
Alleghany Corporation
New York
$1.5M – – –
D.E. Shaw & Co
27
D.E. Shaw & Co
New York
$1.48M +$1.34M +109,107 +753%
BIM
28
BlackRock Investment Management
Delaware
$1.36M +$18.6K +1,516 +1%
Two Sigma Investments
29
Two Sigma Investments
New York
$1.33M +$1.36M +110,636 New
RCM
30
Rotella Capital Management
Washington
$1.33M +$1.36M +110,694 New
TCIM
31
TIAA CREF Investment Management
New York
$1.32M -$92.8K -7,557 -6%
PPA
32
Parametric Portfolio Associates
Washington
$1.3M +$273K +22,226 +26%
CA
33
Corrado Advisors
New Jersey
$1.28M -$11.6K -943 -0.9%
RVPG
34
Relative Value Partners Group
$1.21M +$137K +11,147 +12%
Bank of New York Mellon
35
Bank of New York Mellon
New York
$1.16M -$441K -35,922 -27%
CS
36
Credit Suisse
Switzerland
$1.14M -$171K -13,894 -13%
GCP
37
GSA Capital Partners
United Kingdom
$1.08M +$968K +78,797 +716%
MAM
38
Martingale Asset Management
Massachusetts
$1.07M +$1.1M +89,471 New
Allianz Asset Management
39
Allianz Asset Management
Germany
$967K +$991K +80,634 New
DCM
40
Dialectic Capital Management
Connecticut
$958K +$523K +42,570 +104%
SCM
41
Signia Capital Management
Washington
$906K +$929K +75,586 New
Two Sigma Advisers
42
Two Sigma Advisers
New York
$870K +$892K +72,600 New
JC
43
JBF Capital
Colorado
$833K – – –
CP
44
Camelot Portfolios
Ohio
$750K +$23K +1,872 +3%
State Board of Administration of Florida Retirement System
45
State Board of Administration of Florida Retirement System
Florida
$679K +$404K +32,875 +138%
State of New Jersey Common Pension Fund D
46
State of New Jersey Common Pension Fund D
New Jersey
$659K – – –
Ameriprise
47
Ameriprise
Minnesota
$659K +$662K +53,849 New
HIM
48
Hillsdale Investment Management
Ontario, Canada
$651K +$667K +54,300 New
SCM
49
Sterling Capital Management
North Carolina
$642K +$94.9K +7,728 +17%
California State Teachers Retirement System (CalSTRS)
50
California State Teachers Retirement System (CalSTRS)
California
$591K -$2.46K -200 -0.4%
1
2
3 4 5

ACRE Hedge Fund Activity: Q3 2015 in Review

100 of the 3,582 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q3 2015, worth a combined $225M — up 12% from $200M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new ACRE positions and 18 closed out — a net gain of 5 holders — while 38 added to existing stakes and 21 trimmed.

The largest buyer was Acadian Asset Management, adding an estimated $12.3M. The largest seller was Millennium Management, cutting an estimated $6.18M.

  • 100 institutional investors held Ares Commercial Real Estate (ACRE) as of Q3 2015, up from 95 in Q2 2015.
  • Funds reported $225M of Ares Commercial Real Estate stock for Q3 2015, up 12% quarter-over-quarter.
  • 23 funds opened new Ares Commercial Real Estate positions in Q3 2015 and 18 closed out, a net change of +5 holders.
  • The largest Ares Commercial Real Estate buyer in Q3 2015 was Acadian Asset Management, an estimated $12.3M added.
  • The largest Ares Commercial Real Estate seller in Q3 2015 was Millennium Management, an estimated $6.18M sold.

Based on aggregated 13F filings for Q3 2015.