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ACRE

Ares Commercial Real Estate
ACRE

105 hedge funds and large institutions have $205M invested in Ares Commercial Real Estate in 2016 Q1 according to their latest regulatory filings, with 16 funds opening new positions, 38 increasing their positions, 29 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

60% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 10

31% more repeat investments, than reductions

Existing positions increased: 38 | Existing positions reduced: 29

6% more funds holding

Funds holding: 99 → 105 (+6)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0.98% less ownership

Funds ownership: 66.99% → 66.01% (-0.98%)

7% less capital invested

Capital invested by funds: $219M → $205M (-$14.5M)

100% less call options, than puts

Call options by funds: $0 | Put options by funds: $162K

Holders
105
Holders Change
+6
Holders Change %
+6.06%
% of All Funds
2.8%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
16
Increased
38
Reduced
29
Closed
10
Calls
–
Puts
$162K
Net Calls
-$162K
Net Calls Change
-$162K

Top Buyers

1
CHAM
Clear Harbor Asset Management
Connecticut
+$1.76M
2
Boston Partners
Boston Partners
Massachusetts
+$1.12M
3
TC
Telemus Capital
Michigan
+$913K
4
JIC
Joel Isaacson & Co
New York
+$730K
5
Vanguard Group
Vanguard Group
Pennsylvania
+$600K

Top Sellers

1
FM
Forward Management
California
-$4.46M
2
RIM
RS Investment Management
California
-$3.59M
3
Millennium Management
Millennium Management
New York
-$1.11M
4
BFA
BlackRock Fund Advisors
California
-$1.01M
5
CS
Credit Suisse
Switzerland
-$625K
Name Holding Trade Value Shares
Change 		Change in
Stake
Millennium Management
26
Millennium Management
New York
$1.27M -$1.11M -107,037 -48%
BIM
27
BlackRock Investment Management
Delaware
$1.22M -$6.71K -644 -0.6%
MAM
28
Martingale Asset Management
Massachusetts
$1.22M +$65.2K +6,262 +6%
Bank of New York Mellon
29
Bank of New York Mellon
New York
$1.06M +$6.85K +658 +0.7%
SCM
30
Signia Capital Management
Washington
$983K +$139K +13,338 +17%
TC
31
Telemus Capital
Michigan
$960K +$913K +87,675 New
PPA
32
Parametric Portfolio Associates
Washington
$940K -$307K -29,508 -26%
D.E. Shaw & Co
33
D.E. Shaw & Co
New York
$926K -$181K -17,394 -17%
CA
34
Corrado Advisors
New Jersey
$887K -$184K -17,704 -18%
Goldman Sachs
35
Goldman Sachs
New York
$883K +$272K +26,081 +48%
Allianz Asset Management
36
Allianz Asset Management
Germany
$825K -$83.3K -8,000 -10%
DCM
37
Dialectic Capital Management
Connecticut
$825K +$96.8K +9,300 +14%
GCP
38
GSA Capital Partners
United Kingdom
$820K -$288K -27,700 -27%
CP
39
Camelot Portfolios
Ohio
$785K +$74.8K +7,180 +11%
JIC
40
Joel Isaacson & Co
New York
$767K +$730K +70,079 New
JC
41
JBF Capital
Colorado
$761K – – –
PNC Financial Services Group
42
PNC Financial Services Group
Pennsylvania
$674K +$170K +16,285 +36%
SCM
43
Sterling Capital Management
North Carolina
$657K +$67.2K +6,457 +12%
California State Teachers Retirement System (CalSTRS)
44
California State Teachers Retirement System (CalSTRS)
California
$635K +$80.9K +7,769 +15%
Los Angeles Capital Management
45
Los Angeles Capital Management
California
$624K +$259K +24,900 +77%
TA
46
Teachers Advisors
New York
$561K – – –
State Board of Administration of Florida Retirement System
47
State Board of Administration of Florida Retirement System
Florida
$530K -$86K -8,265 -15%
Citigroup
48
Citigroup
New York
$483K +$182K +17,443 +65%
Invesco
49
Invesco
Georgia
$478K +$59.5K +5,719 +15%
Charles Schwab
50
Charles Schwab
California
$459K – – –
1
2
3 4 5

ACRE Hedge Fund Activity: Q1 2016 in Review

105 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q1 2016, worth a combined $205M — down 6.6% from $219M a quarter earlier.

Buyers outnumbered sellers: 16 funds opened new ACRE positions and 10 closed out — a net gain of 6 holders — while 38 added to existing stakes and 29 trimmed.

The largest buyer was Clear Harbor Asset Management, adding an estimated $1.76M. The largest seller was Forward Management, exiting entirely with an estimated $4.46M sold.

  • 105 institutional investors held Ares Commercial Real Estate (ACRE) as of Q1 2016, up from 99 in Q4 2015.
  • Funds reported $205M of Ares Commercial Real Estate stock for Q1 2016, down 6.6% quarter-over-quarter.
  • 16 funds opened new Ares Commercial Real Estate positions in Q1 2016 and 10 closed out, a net change of +6 holders.
  • The largest Ares Commercial Real Estate buyer in Q1 2016 was Clear Harbor Asset Management, an estimated $1.76M added.
  • The largest Ares Commercial Real Estate seller in Q1 2016 was Forward Management, an estimated $4.46M sold.

Based on aggregated 13F filings for Q1 2016.