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ACRE

Ares Commercial Real Estate
ACRE

109 hedge funds and large institutions have $216M invested in Ares Commercial Real Estate in 2018 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 37 increasing their positions, 39 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

70% more call options, than puts

Call options by funds: $124K | Put options by funds: $73K

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

1% less funds holding

Funds holding: 110 → 109 (-1)

5% less repeat investments, than reductions

Existing positions increased: 37 | Existing positions reduced: 39

8% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 12

1.25% less ownership

Funds ownership: 63.95% → 62.7% (-1.2%)

9% less capital invested

Capital invested by funds: $236M → $216M (-$20.1M)

Holders
109
Holders Change
-1
Holders Change %
-0.91%
% of All Funds
2.5%
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
39
Closed
12
Calls
$124K
Puts
$73K
Net Calls
+$51K
Net Calls Change
+$264K

Top Buyers

1
MAM
Martingale Asset Management
Massachusetts
+$1.87M
2
SFM
Systematic Financial Management
New Jersey
+$1.12M
3
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$994K
4
GIM
Greenwich Investment Management
Connecticut
+$809K
5
AC
Athanor Capital
New York
+$598K

Top Sellers

1
BlackRock
BlackRock
New York
-$2.13M
2
Millennium Management
Millennium Management
New York
-$1.42M
3
Boston Partners
Boston Partners
Massachusetts
-$1.34M
4
GCP
GSA Capital Partners
United Kingdom
-$1.18M
5
Wells Fargo
Wells Fargo
California
-$1.03M
Name Holding Trade Value Shares
Change 		Change in
Stake
Thrivent Financial for Lutherans
26
Thrivent Financial for Lutherans
Minnesota
$2.08M -$13.4K -1,068 -0.6%
Acadian Asset Management
27
Acadian Asset Management
Massachusetts
$1.89M +$6.42K +510 +0.3%
MAM
28
Martingale Asset Management
Massachusetts
$1.83M +$1.87M +148,536 New
Bank of New York Mellon
29
Bank of New York Mellon
New York
$1.74M +$324K +25,745 +22%
TCIM
30
TIAA CREF Investment Management
New York
$1.71M +$33.2K +2,638 +2%
BA
31
Bard Associates
Illinois
$1.65M -$35.2K -2,800 -2%
AC
32
Alleghany Corporation
New York
$1.54M – – –
PPA
33
Parametric Portfolio Associates
Washington
$1.31M +$3.4K +270 +0.3%
ACM
34
Ativo Capital Management
Illinois
$1.22M – – –
Hotchkis & Wiley Capital Management
35
Hotchkis & Wiley Capital Management
California
$1.14M +$9.73K +773 +0.8%
Invesco
36
Invesco
Georgia
$1.14M +$103K +8,195 +10%
SFM
37
Systematic Financial Management
New Jersey
$1.1M +$1.12M +89,195 New
JIC
38
Joel Isaacson & Co
New York
$1.06M +$3.47K +276 +0.3%
WAM
39
Wolverine Asset Management
Illinois
$1.05M +$226K +17,991 +27%
California Public Employees Retirement System
40
California Public Employees Retirement System
California
$1.03M -$446K -35,428 -30%
ZIM
41
Zacks Investment Management
Illinois
$977K -$33.6K -2,670 -3%
Two Sigma Advisers
42
Two Sigma Advisers
New York
$897K +$217K +17,200 +31%
MERSOM
43
Municipal Employees' Retirement System of Michigan
Michigan
$834K – – –
GIM
44
Greenwich Investment Management
Connecticut
$794K +$809K +64,255 New
Goldman Sachs
45
Goldman Sachs
New York
$785K -$99.5K -7,908 -11%
CP
46
Camelot Portfolios
Ohio
$733K +$20.6K +1,633 +3%
Charles Schwab
47
Charles Schwab
California
$727K +$78K +6,200 +12%
Royal Bank of Canada
48
Royal Bank of Canada
Ontario, Canada
$673K – – –
Two Sigma Investments
49
Two Sigma Investments
New York
$665K -$234K -18,618 -26%
BCM
50
Beck Capital Management
Texas
$664K -$298K -23,709 -31%
1
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ACRE Hedge Fund Activity: Q1 2018 in Review

109 of the 4,363 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q1 2018, worth a combined $216M — down 8.5% from $236M a quarter earlier.

Sellers outnumbered buyers: 12 funds closed out of ACRE and 11 opened new positions — a net loss of 1 holder — while 39 trimmed existing stakes and 37 added.

The largest buyer was Martingale Asset Management, opening a new position worth an estimated $1.87M. The largest seller was BlackRock, cutting an estimated $2.13M.

  • 109 institutional investors held Ares Commercial Real Estate (ACRE) as of Q1 2018, down from 110 in Q4 2017.
  • Funds reported $216M of Ares Commercial Real Estate stock for Q1 2018, down 8.5% quarter-over-quarter.
  • 11 funds opened new Ares Commercial Real Estate positions in Q1 2018 and 12 closed out, a net change of -1 holder.
  • The largest Ares Commercial Real Estate buyer in Q1 2018 was Martingale Asset Management, an estimated $1.87M added.
  • The largest Ares Commercial Real Estate seller in Q1 2018 was BlackRock, an estimated $2.13M sold.

Based on aggregated 13F filings for Q1 2018.