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ACRE

Ares Commercial Real Estate
ACRE

110 hedge funds and large institutions have $236M invested in Ares Commercial Real Estate in 2017 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 37 increasing their positions, 40 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

15% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 13

2% more funds holding

Funds holding: 108 → 110 (+2)

0.74% more ownership

Funds ownership: 63.21% → 63.95% (+0.74%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

2% less capital invested

Capital invested by funds: $241M → $236M (-$4.64M)

8% less repeat investments, than reductions

Existing positions increased: 37 | Existing positions reduced: 40

100% less call options, than puts

Call options by funds: $0 | Put options by funds: $213K

Holders
110
Holders Change
+2
Holders Change %
+1.85%
% of All Funds
2.49%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
15
Increased
37
Reduced
40
Closed
13
Calls
–
Puts
$213K
Net Calls
-$213K
Net Calls Change
+$122K

Top Buyers

1
Boston Partners
Boston Partners
Massachusetts
+$2.51M
2
DM
Delphi Management
Massachusetts
+$1.47M
3
ACM
Ativo Capital Management
Illinois
+$1.32M
4
ZIM
Zacks Investment Management
Illinois
+$1.09M
5
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
+$1.04M

Top Sellers

1
N
Nuveen
North Carolina
-$2.69M
2
Allianz Asset Management
Allianz Asset Management
Germany
-$1.22M
3
RVPG
Relative Value Partners Group
-$1.06M
4
Acadian Asset Management
Acadian Asset Management
Massachusetts
-$980K
5
HCM
HGI Capital Management
New York
-$725K
Name Holding Trade Value Shares
Change 		Change in
Stake
Thrivent Financial for Lutherans
26
Thrivent Financial for Lutherans
Minnesota
$2.18M -$260K -19,590 -10%
Acadian Asset Management
27
Acadian Asset Management
Massachusetts
$1.96M -$980K -73,701 -33%
BA
28
Bard Associates
Illinois
$1.76M -$13.3K -1,000 -0.7%
TCIM
29
TIAA CREF Investment Management
New York
$1.75M -$26.7K -2,008 -1%
AC
30
Alleghany Corporation
New York
$1.61M – – –
D.E. Shaw & Co
31
D.E. Shaw & Co
New York
$1.59M +$862K +64,875 +111%
California Public Employees Retirement System
32
California Public Employees Retirement System
California
$1.54M +$348K +26,167 +28%
Bank of New York Mellon
33
Bank of New York Mellon
New York
$1.48M -$86.4K -6,496 -5%
PPA
34
Parametric Portfolio Associates
Washington
$1.36M +$229K +17,218 +19%
GCP
35
GSA Capital Partners
United Kingdom
$1.35M -$164K -12,307 -11%
ACM
36
Ativo Capital Management
Illinois
$1.28M +$1.32M +99,029 New
Hotchkis & Wiley Capital Management
37
Hotchkis & Wiley Capital Management
California
$1.19M +$1.04M +77,932 +560%
JIC
38
Joel Isaacson & Co
New York
$1.11M +$5.42K +408 +0.5%
Invesco
39
Invesco
Georgia
$1.08M +$23.5K +1,767 +2%
ZIM
40
Zacks Investment Management
Illinois
$1.05M +$1.09M +81,759 New
BCM
41
Beck Capital Management
Texas
$999K +$248K +18,677 +32%
Two Sigma Investments
42
Two Sigma Investments
New York
$935K +$650K +48,914 +208%
Deutsche Bank
43
Deutsche Bank
Germany
$931K +$477K +35,903 +98%
Goldman Sachs
44
Goldman Sachs
New York
$921K +$214K +16,078 +29%
MERSOM
45
Municipal Employees' Retirement System of Michigan
Michigan
$872K +$223K +16,750 +33%
WAM
46
Wolverine Asset Management
Illinois
$860K -$11K -825 -1%
CP
47
Camelot Portfolios
Ohio
$745K -$341K -25,656 -31%
JP Morgan Chase
48
JP Morgan Chase
New York
$721K +$95.9K +7,214 +15%
Two Sigma Advisers
49
Two Sigma Advisers
New York
$716K +$168K +12,600 +29%
Royal Bank of Canada
50
Royal Bank of Canada
Ontario, Canada
$702K +$65.8K +4,946 +10%
1
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ACRE Hedge Fund Activity: Q4 2017 in Review

110 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q4 2017, worth a combined $236M — down 1.9% from $241M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new ACRE positions and 13 closed out — a net gain of 2 holders — while 37 added to existing stakes and 40 trimmed.

The largest buyer was Boston Partners, adding an estimated $2.51M. The largest seller was Nuveen, cutting an estimated $2.69M.

  • 110 institutional investors held Ares Commercial Real Estate (ACRE) as of Q4 2017, up from 108 in Q3 2017.
  • Funds reported $236M of Ares Commercial Real Estate stock for Q4 2017, down 1.9% quarter-over-quarter.
  • 15 funds opened new Ares Commercial Real Estate positions in Q4 2017 and 13 closed out, a net change of +2 holders.
  • The largest Ares Commercial Real Estate buyer in Q4 2017 was Boston Partners, an estimated $2.51M added.
  • The largest Ares Commercial Real Estate seller in Q4 2017 was Nuveen, an estimated $2.69M sold.

Based on aggregated 13F filings for Q4 2017.