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ACRE

Ares Commercial Real Estate
ACRE

112 hedge funds and large institutions have $243M invested in Ares Commercial Real Estate in 2018 Q4 according to their latest regulatory filings, with 17 funds opening new positions, 51 increasing their positions, 29 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

240% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 5

76% more repeat investments, than reductions

Existing positions increased: 51 | Existing positions reduced: 29

12% more funds holding

Funds holding: 100 → 112 (+12)

1.6% more ownership

Funds ownership: 63.17% → 64.77% (+1.6%)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

4% less capital invested

Capital invested by funds: $253M → $243M (-$10.4M)

88% less call options, than puts

Call options by funds: $40K | Put options by funds: $329K

Holders
112
Holders Change
+12
Holders Change %
+12%
% of All Funds
2.5%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
17
Increased
51
Reduced
29
Closed
5
Calls
$40K
Puts
$329K
Net Calls
-$289K
Net Calls Change
-$304K

Top Buyers

Rank Fund Capital Flow
1
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$3.01M
2
Millennium Management
Millennium Management
New York
+$1.72M
3
Renaissance Technologies
Renaissance Technologies
New York
+$1.39M
4
ZIM
Zacks Investment Management
Illinois
+$1.2M
5
BCM
Beck Capital Management
Texas
+$1.04M

Top Sellers

Rank Fund Capital Flow
1
Boston Partners
Boston Partners
Massachusetts
-$4.63M
2
AllianceBernstein
AllianceBernstein
Tennessee
-$2.1M
3
Neuberger Berman Group
Neuberger Berman Group
New York
-$1.82M
4
ACM
Ativo Capital Management
Illinois
-$1.26M
5
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
-$741K
Name Holding Trade Value Shares
Change 		Change in
Stake
DM
26
Delphi Management
Massachusetts
$2.09M -$134K -9,596 -6%
Thrivent Financial for Lutherans
27
Thrivent Financial for Lutherans
Minnesota
$1.94M -$265K -18,942 -11%
D.E. Shaw & Co
28
D.E. Shaw & Co
New York
$1.89M -$651K -46,580 -24%
Invesco
29
Invesco
Georgia
$1.83M +$323K +23,100 +20%
Bank of New York Mellon
30
Bank of New York Mellon
New York
$1.82M +$55.5K +3,970 +3%
Allianz Asset Management
31
Allianz Asset Management
Germany
$1.76M +$27.1K +1,937 +1%
AllianceBernstein
32
AllianceBernstein
Tennessee
$1.7M -$2.1M -149,886 -54%
BA
33
Bard Associates
Illinois
$1.68M -$13.6K -975 -0.8%
BCM
34
Beck Capital Management
Texas
$1.53M +$1.04M +74,066 +170%
Neuberger Berman Group
35
Neuberger Berman Group
New York
$1.48M -$1.82M -130,450 -53%
Two Sigma Investments
36
Two Sigma Investments
New York
$1.37M +$192K +13,748 +15%
Two Sigma Advisers
37
Two Sigma Advisers
New York
$1.32M +$93.7K +6,700 +7%
JIC
38
Joel Isaacson & Co
New York
$1.25M +$4.05K +290 +0.3%
ZIM
39
Zacks Investment Management
Illinois
$1.12M +$1.2M +85,963 New
Citadel Advisors
40
Citadel Advisors
Florida
$1.11M +$422K +30,160 +55%
OAM
41
Oxford Asset Management
United Kingdom
$1.08M +$490K +35,043 +73%
GIM
42
Greenwich Investment Management
Connecticut
$1.02M +$56.3K +4,030 +5%
CHAM
43
Clear Harbor Asset Management
Connecticut
$912K -$70.6K -5,050 -7%
UBS Group
44
UBS Group
Switzerland
$910K +$351K +25,112 +56%
DCM
45
Dupont Capital Management
Delaware
$906K +$275K +19,652 +39%
Mackenzie Financial
46
Mackenzie Financial
Ontario, Canada
$893K – – –
Royal Bank of Canada
47
Royal Bank of Canada
Ontario, Canada
$855K +$63K +4,506 +7%
Bessemer Group
48
Bessemer Group
New Jersey
$848K +$336K +24,000 +59%
Charles Schwab
49
Charles Schwab
California
$823K +$37.8K +2,700 +4%
Goldman Sachs
50
Goldman Sachs
New York
$812K -$276K -19,749 -24%
1
2
3 4 5

ACRE Hedge Fund Activity: Q4 2018 in Review

112 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q4 2018, worth a combined $243M — down 4.1% from $253M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new ACRE positions and 5 closed out — a net gain of 12 holders — while 51 added to existing stakes and 29 trimmed.

The largest buyer was Acadian Asset Management, adding an estimated $3.01M. The largest seller was Boston Partners, cutting an estimated $4.63M.

  • 112 institutional investors held Ares Commercial Real Estate (ACRE) as of Q4 2018, up from 100 in Q3 2018.
  • Funds reported $243M of Ares Commercial Real Estate stock for Q4 2018, down 4.1% quarter-over-quarter.
  • 17 funds opened new Ares Commercial Real Estate positions in Q4 2018 and 5 closed out, a net change of +12 holders.
  • The largest Ares Commercial Real Estate buyer in Q4 2018 was Acadian Asset Management, an estimated $3.01M added.
  • The largest Ares Commercial Real Estate seller in Q4 2018 was Boston Partners, an estimated $4.63M sold.

Based on aggregated 13F filings for Q4 2018.