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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
Mackenzie Financial
51
Mackenzie Financial
Ontario, Canada
$691K – – –
Charles Schwab
52
Charles Schwab
California
$680K +$143K +10,752 +26%
TA
53
Teachers Advisors
New York
$679K – – –
California State Teachers Retirement System (CalSTRS)
54
California State Teachers Retirement System (CalSTRS)
California
$545K -$25.7K -1,933 -4%
UBS Group
55
UBS Group
Switzerland
$472K -$62.5K -4,698 -11%
AWA
56
Arete Wealth Advisors
Illinois
$464K -$5.98K -450 -1%
HighTower Advisors
57
HighTower Advisors
Illinois
$458K +$16K +1,202 +4%
Prudential Financial
58
Prudential Financial
New Jersey
$447K -$179K -13,500 -28%
Citadel Advisors
59
Citadel Advisors
Florida
$423K +$436K +32,761 New
OAM
60
Orinda Asset Management
California
$387K +$399K +30,000 New
NFA
61
Nuveen Fund Advisors
Illinois
$376K -$242K -18,215 -38%
Balyasny Asset Management
62
Balyasny Asset Management
Illinois
$363K -$177K -13,300 -32%
JG
63
Jefferies Group
New York
$333K +$172K +12,911 +100%
OAM
64
Oxford Asset Management
United Kingdom
$332K +$340K +25,595 New
AM
65
Ares Management
California
$329K -$77.7K -5,843 -19%
First Trust Advisors
66
First Trust Advisors
Illinois
$329K +$39.9K +2,999 +13%
RhumbLine Advisers
67
RhumbLine Advisers
Massachusetts
$326K -$63K -4,741 -16%
New York State Common Retirement Fund
68
New York State Common Retirement Fund
New York
$319K – – –
T. Rowe Price Associates
69
T. Rowe Price Associates
Maryland
$313K – – –
State Board of Administration of Florida Retirement System
70
State Board of Administration of Florida Retirement System
Florida
$306K – – –
Cambridge Investment Research Advisors
71
Cambridge Investment Research Advisors
Iowa
$300K +$309K +23,250 New
AG
72
Aperio Group
California
$293K +$1.57K +118 +0.5%
Manulife (Manufacturers Life Insurance)
73
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$292K -$14.6K -1,099 -5%
Los Angeles Capital Management
74
Los Angeles Capital Management
California
$291K -$474K -35,686 -61%
CCMLC
75
Cardinal Capital Management LLC (Connecticut)
Connecticut
$290K – – –
1 2
3
4 5

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.