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ACRE

Ares Commercial Real Estate
ACRE

110 hedge funds and large institutions have $243M invested in Ares Commercial Real Estate in 2017 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 36 increasing their positions, 39 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.31% more ownership

Funds ownership: 65% → 65.3% (+0.31%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

2% less capital invested

Capital invested by funds: $248M → $243M (-$4.14M)

8% less repeat investments, than reductions

Existing positions increased: 36 | Existing positions reduced: 39

2% less funds holding

Funds holding: 112 → 110 (-2)

13% less first-time investments, than exits

New positions opened: 13 | Existing positions closed: 15

Holders
110
Holders Change
-2
Holders Change %
-1.79%
% of All Funds
2.74%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
13
Increased
36
Reduced
39
Closed
15
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AAMU
AEGON Asset Management (UK)
United Kingdom
+$3.51M
2
YMRC
Yorktown Management & Research Company
Virginia
+$3.08M
3
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$1.84M
4
BlackRock
BlackRock
New York
+$1.53M
5
Millennium Management
Millennium Management
New York
+$1.33M

Top Sellers

Rank Fund Capital Flow
1
Acadian Asset Management
Acadian Asset Management
Massachusetts
-$4.8M
2
MAM
Martingale Asset Management
Massachusetts
-$2M
3
Morgan Stanley
Morgan Stanley
New York
-$1M
4
Renaissance Technologies
Renaissance Technologies
New York
-$914K
5
SCA
Secor Capital Advisors
New York
-$885K
Name Holding Trade Value Shares
Change 		Change in
Stake
Russell Investments Group
26
Russell Investments Group
United Kingdom
$2.23M -$364K -27,134 -14%
GCP
27
GSA Capital Partners
United Kingdom
$2.07M -$738K -55,045 -26%
Millennium Management
28
Millennium Management
New York
$2.02M +$1.33M +99,449 +181%
N
29
Nuveen
North Carolina
$1.89M -$699K -52,143 -27%
TCIM
30
TIAA CREF Investment Management
New York
$1.86M – – –
BA
31
Bard Associates
Illinois
$1.8M – – –
SCM
32
Signia Capital Management
Washington
$1.71M -$31.5K -2,349 -2%
AC
33
Alleghany Corporation
New York
$1.64M – – –
LSV Asset Management
34
LSV Asset Management
Illinois
$1.61M +$69.7K +5,200 +4%
Bank of New York Mellon
35
Bank of New York Mellon
New York
$1.6M -$15.9K -1,185 -1%
CCMLC
36
Cardinal Capital Management LLC (Connecticut)
Connecticut
$1.43M +$55.1K +4,114 +4%
Two Sigma Advisers
37
Two Sigma Advisers
New York
$1.12M -$134K -10,000 -10%
Invesco
38
Invesco
Georgia
$1.06M -$327K -24,395 -23%
CP
39
Camelot Portfolios
Ohio
$1.06M +$51K +3,807 +5%
PPA
40
Parametric Portfolio Associates
Washington
$1.02M +$30.9K +2,305 +3%
JIC
41
Joel Isaacson & Co
New York
$950K – – –
California Public Employees Retirement System
42
California Public Employees Retirement System
California
$889K +$259K +19,300 +40%
MAM
43
Martingale Asset Management
Massachusetts
$861K -$2M -149,161 -69%
D.E. Shaw & Co
44
D.E. Shaw & Co
New York
$860K -$133K -9,953 -13%
Los Angeles Capital Management
45
Los Angeles Capital Management
California
$832K – – –
SCM
46
Sterling Capital Management
North Carolina
$828K -$6.1K -455 -0.7%
PNC Financial Services Group
47
PNC Financial Services Group
Pennsylvania
$723K -$130K -9,668 -15%
HCM
48
HGI Capital Management
New York
$713K +$730K +54,487 New
NFA
49
Nuveen Fund Advisors
Illinois
$696K -$196K -14,656 -22%
TA
50
Teachers Advisors
New York
$689K -$38.2K -2,850 -5%
1
2
3 4 5

ACRE Hedge Fund Activity: Q2 2017 in Review

110 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q2 2017, worth a combined $243M — down 1.7% from $248M a quarter earlier.

Sellers outnumbered buyers: 15 funds closed out of ACRE and 13 opened new positions — a net loss of 2 holders — while 39 trimmed existing stakes and 36 added.

The largest buyer was AEGON Asset Management (UK), opening a new position worth an estimated $3.51M. The largest seller was Acadian Asset Management, cutting an estimated $4.8M.

  • 110 institutional investors held Ares Commercial Real Estate (ACRE) as of Q2 2017, down from 112 in Q1 2017.
  • Funds reported $243M of Ares Commercial Real Estate stock for Q2 2017, down 1.7% quarter-over-quarter.
  • 13 funds opened new Ares Commercial Real Estate positions in Q2 2017 and 15 closed out, a net change of -2 holders.
  • The largest Ares Commercial Real Estate buyer in Q2 2017 was AEGON Asset Management (UK), an estimated $3.51M added.
  • The largest Ares Commercial Real Estate seller in Q2 2017 was Acadian Asset Management, an estimated $4.8M sold.

Based on aggregated 13F filings for Q2 2017.