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ACRE

Ares Commercial Real Estate
ACRE

142 hedge funds and large institutions have $291M invested in Ares Commercial Real Estate in 2019 Q4 according to their latest regulatory filings, with 19 funds opening new positions, 58 increasing their positions, 43 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

35% more repeat investments, than reductions

Existing positions increased: 58 | Existing positions reduced: 43

27% more first-time investments, than exits

New positions opened: 19 | Existing positions closed: 15

5% more capital invested

Capital invested by funds: $276M → $291M (+$14.5M)

0.74% more ownership

Funds ownership: 62.81% → 63.55% (+0.74%)

1% more funds holding

Funds holding: 141 → 142 (+1)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

100% less call options, than puts

Call options by funds: $1K | Put options by funds: $405K

Holders
142
Holders Change
+1
Holders Change %
+0.71%
% of All Funds
2.8%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
19
Increased
58
Reduced
43
Closed
15
Calls
$1K
Puts
$405K
Net Calls
-$404K
Net Calls Change
-$422K

Top Buyers

Rank Fund Capital Flow
1
CIM
Centersquare Investment Management
Pennsylvania
+$5.1M
2
Morgan Stanley
Morgan Stanley
New York
+$3.65M
3
KCM
Kennedy Capital Management
Missouri
+$3.04M
4
Goldman Sachs
Goldman Sachs
New York
+$1.87M
5
BlackRock
BlackRock
New York
+$1.56M

Top Sellers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
-$3.78M
2
Grantham, Mayo, Van Otterloo & Co (GMO)
Grantham, Mayo, Van Otterloo & Co (GMO)
Massachusetts
-$2.22M
3
AllianceBernstein
AllianceBernstein
Tennessee
-$2.02M
4
WG
Winton Group
United Kingdom
-$1.7M
5
N
Nuveen
North Carolina
-$1.19M
Name Holding Trade Value Shares
Change 		Change in
Stake
Invesco
26
Invesco
Georgia
$2.43M -$573K -36,951 -19%
Mackenzie Financial
27
Mackenzie Financial
Ontario, Canada
$2.27M +$1.28M +82,724 +136%
Bank of New York Mellon
28
Bank of New York Mellon
New York
$2.25M +$42.9K +2,767 +2%
Two Sigma Investments
29
Two Sigma Investments
New York
$2.21M -$221K -14,256 -9%
Citadel Advisors
30
Citadel Advisors
Florida
$1.94M -$228K -14,689 -11%
BA
31
Bard Associates
Illinois
$1.93M -$31.4K -2,025 -2%
UBS Group
32
UBS Group
Switzerland
$1.85M +$232K +14,949 +15%
Two Sigma Advisers
33
Two Sigma Advisers
New York
$1.67M -$901K -58,100 -36%
JIC
34
Joel Isaacson & Co
New York
$1.61M +$9.27K +598 +0.6%
NA
35
Navellier & Associates
Nevada
$1.61M +$477K +30,746 +43%
Bessemer Group
36
Bessemer Group
New Jersey
$1.49M +$9.3K +600 +0.6%
Prudential Financial
37
Prudential Financial
New Jersey
$1.49M +$31.5K +2,032 +2%
RVPG
38
Relative Value Partners Group
$1.45M -$30.3K -1,953 -2%
PAM
39
Panagora Asset Management
Massachusetts
$1.44M +$619K +39,950 +79%
CS
40
Credit Suisse
Switzerland
$1.21M +$98.2K +6,338 +9%
Victory Capital Management
41
Victory Capital Management
Texas
$1.18M +$613K +39,575 +114%
Royal Bank of Canada
42
Royal Bank of Canada
Ontario, Canada
$1.16M +$72.8K +4,697 +7%
JP Morgan Chase
43
JP Morgan Chase
New York
$1.15M -$579K -37,348 -34%
Allianz Asset Management
44
Allianz Asset Management
Germany
$1.07M -$158K -10,170 -13%
Charles Schwab
45
Charles Schwab
California
$1.07M +$13.5K +871 +1%
Russell Investments Group
46
Russell Investments Group
United Kingdom
$1.03M – – –
SGI
47
Summit Global Investments
Utah
$989K +$65K +4,195 +7%
Ameriprise
48
Ameriprise
Minnesota
$944K +$729K +47,035 +375%
Neuberger Berman Group
49
Neuberger Berman Group
New York
$943K -$91.8K -5,923 -9%
SSA
50
Schonfeld Strategic Advisors
New York
$860K +$676K +43,600 +407%
1
2
3 4 5

ACRE Hedge Fund Activity: Q4 2019 in Review

142 of the 5,075 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q4 2019, worth a combined $291M — up 5.2% from $276M a quarter earlier.

Buyers outnumbered sellers: 19 funds opened new ACRE positions and 15 closed out — a net gain of 4 holders — while 58 added to existing stakes and 43 trimmed.

The largest buyer was Centersquare Investment Management, opening a new position worth an estimated $5.1M. The largest seller was Millennium Management, cutting an estimated $3.78M.

  • 142 institutional investors held Ares Commercial Real Estate (ACRE) as of Q4 2019, up from 141 in Q3 2019.
  • Funds reported $291M of Ares Commercial Real Estate stock for Q4 2019, up 5.2% quarter-over-quarter.
  • 19 funds opened new Ares Commercial Real Estate positions in Q4 2019 and 15 closed out, a net change of +4 holders.
  • The largest Ares Commercial Real Estate buyer in Q4 2019 was Centersquare Investment Management, an estimated $5.1M added.
  • The largest Ares Commercial Real Estate seller in Q4 2019 was Millennium Management, an estimated $3.78M sold.

Based on aggregated 13F filings for Q4 2019.