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ACRE

Ares Commercial Real Estate
ACRE

108 hedge funds and large institutions have $241M invested in Ares Commercial Real Estate in 2017 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 37 increasing their positions, 33 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

12% more repeat investments, than reductions

Existing positions increased: 37 | Existing positions reduced: 33

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

1% less capital invested

Capital invested by funds: $243M → $241M (-$2.92M)

2% less funds holding

Funds holding: 110 → 108 (-2)

2.09% less ownership

Funds ownership: 65.3% → 63.21% (-2.1%)

15% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 13

100% less call options, than puts

Call options by funds: $0 | Put options by funds: $335K

Holders
108
Holders Change
-2
Holders Change %
-1.82%
% of All Funds
2.69%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
11
Increased
37
Reduced
33
Closed
13
Calls
–
Puts
$335K
Net Calls
-$335K
Net Calls Change
-$335K

Top Buyers

1
N
Nuveen
North Carolina
+$3.65M
2
Millennium Management
Millennium Management
New York
+$3.14M
3
KCM
Kennedy Capital Management
Missouri
+$1.7M
4
WAM
Wolverine Asset Management
Illinois
+$885K
5
DM
Delphi Management
Massachusetts
+$838K

Top Sellers

1
CCP
Clough Capital Partners
Massachusetts
-$4.57M
2
Acadian Asset Management
Acadian Asset Management
Massachusetts
-$3.44M
3
BlackRock
BlackRock
New York
-$2.5M
4
Russell Investments Group
Russell Investments Group
United Kingdom
-$2.23M
5
Allianz Asset Management
Allianz Asset Management
Germany
-$1.97M
Name Holding Trade Value Shares
Change 		Change in
Stake
TCIM
26
TIAA CREF Investment Management
New York
$1.84M -$57.8K -4,410 -3%
BA
27
Bard Associates
Illinois
$1.83M – – –
LSV Asset Management
28
LSV Asset Management
Illinois
$1.79M +$148K +11,300 +9%
AC
29
Alleghany Corporation
New York
$1.67M – – –
Bank of New York Mellon
30
Bank of New York Mellon
New York
$1.62M -$13.7K -1,046 -0.9%
GCP
31
GSA Capital Partners
United Kingdom
$1.56M -$539K -41,100 -26%
Allianz Asset Management
32
Allianz Asset Management
Germany
$1.45M -$1.97M -150,285 -58%
California Public Employees Retirement System
33
California Public Employees Retirement System
California
$1.24M +$328K +24,998 +37%
PPA
34
Parametric Portfolio Associates
Washington
$1.18M +$142K +10,846 +14%
JIC
35
Joel Isaacson & Co
New York
$1.14M +$170K +13,000 +18%
CP
36
Camelot Portfolios
Ohio
$1.11M +$32.1K +2,447 +3%
Invesco
37
Invesco
Georgia
$1.1M +$18.3K +1,396 +2%
WAM
38
Wolverine Asset Management
Illinois
$898K +$885K +67,538 New
DM
39
Delphi Management
Massachusetts
$850K +$838K +63,888 New
BCM
40
Beck Capital Management
Texas
$783K +$771K +58,800 New
D.E. Shaw & Co
41
D.E. Shaw & Co
New York
$778K -$95K -7,247 -11%
Los Angeles Capital Management
42
Los Angeles Capital Management
California
$776K -$69.6K -5,310 -8%
Goldman Sachs
43
Goldman Sachs
New York
$736K +$469K +35,807 +183%
HCM
44
HGI Capital Management
New York
$725K – – –
Mackenzie Financial
45
Mackenzie Financial
Ontario, Canada
$712K +$286K +21,783 +69%
TA
46
Teachers Advisors
New York
$701K – – –
MERSOM
47
Municipal Employees' Retirement System of Michigan
Michigan
$676K – – –
Royal Bank of Canada
48
Royal Bank of Canada
Ontario, Canada
$659K +$39.8K +3,036 +7%
JP Morgan Chase
49
JP Morgan Chase
New York
$649K +$533K +40,626 +506%
Prudential Financial
50
Prudential Financial
New Jersey
$641K +$18.4K +1,400 +3%
1
2
3 4 5

ACRE Hedge Fund Activity: Q3 2017 in Review

108 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q3 2017, worth a combined $241M — down 1.2% from $243M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of ACRE and 11 opened new positions — a net loss of 2 holders — while 33 trimmed existing stakes and 37 added.

The largest buyer was Nuveen, adding an estimated $3.65M. The largest seller was Clough Capital Partners, exiting entirely with an estimated $4.57M sold.

  • 108 institutional investors held Ares Commercial Real Estate (ACRE) as of Q3 2017, down from 110 in Q2 2017.
  • Funds reported $241M of Ares Commercial Real Estate stock for Q3 2017, down 1.2% quarter-over-quarter.
  • 11 funds opened new Ares Commercial Real Estate positions in Q3 2017 and 13 closed out, a net change of -2 holders.
  • The largest Ares Commercial Real Estate buyer in Q3 2017 was Nuveen, an estimated $3.65M added.
  • The largest Ares Commercial Real Estate seller in Q3 2017 was Clough Capital Partners, an estimated $4.57M sold.

Based on aggregated 13F filings for Q3 2017.