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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
Mackenzie Financial
51
Mackenzie Financial
Ontario, Canada
$661K – – –
TA
52
Teachers Advisors
New York
$650K – – –
AC
53
Athanor Capital
New York
$587K +$598K +47,500 New
Deutsche Bank
54
Deutsche Bank
Germany
$563K -$336K -26,660 -37%
Balyasny Asset Management
55
Balyasny Asset Management
Illinois
$523K +$179K +14,198 +50%
California State Teachers Retirement System (CalSTRS)
56
California State Teachers Retirement System (CalSTRS)
California
$504K -$18K -1,431 -3%
Bessemer Group
57
Bessemer Group
New Jersey
$487K +$465K +36,900 +1,476%
Allianz Asset Management
58
Allianz Asset Management
Germany
$455K +$253K +20,079 +120%
UBS Group
59
UBS Group
Switzerland
$440K -$12.8K -1,019 -3%
JIR
60
James Investment Research
Ohio
$411K +$419K +33,250 New
AM
61
Ares Management
California
$385K +$71.3K +5,666 +22%
HighTower Advisors
62
HighTower Advisors
Illinois
$373K -$67.2K -5,336 -15%
First Trust Advisors
63
First Trust Advisors
Illinois
$338K +$23.5K +1,865 +7%
NFA
64
Nuveen Fund Advisors
Illinois
$333K -$28.1K -2,229 -8%
OAM
65
Oxford Asset Management
United Kingdom
$333K +$16.9K +1,339 +5%
RhumbLine Advisers
66
RhumbLine Advisers
Massachusetts
$309K -$3.4K -270 -1%
New York State Common Retirement Fund
67
New York State Common Retirement Fund
New York
$305K – – –
T. Rowe Price Associates
68
T. Rowe Price Associates
Maryland
$301K +$655 +52 +0.2%
RJA
69
Raymond James & Associates
Florida
$298K +$303K +24,105 New
State Board of Administration of Florida Retirement System
70
State Board of Administration of Florida Retirement System
Florida
$293K – – –
Manulife (Manufacturers Life Insurance)
71
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$278K -$1.28K -102 -0.5%
Prudential Financial
72
Prudential Financial
New Jersey
$277K -$154K -12,200 -35%
AWA
73
Arete Wealth Advisors
Illinois
$264K -$183K -14,557 -41%
JP Morgan Chase
74
JP Morgan Chase
New York
$261K -$438K -34,782 -62%
Alyeska Investment Group
75
Alyeska Investment Group
Illinois
$250K +$255K +20,283 New
1 2
3
4 5

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.