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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
TA
51
Teachers Advisors
New York
$754K – – –
SCM
52
Sterling Capital Management
North Carolina
$707K +$758K +54,214 New
Russell Investments Group
53
Russell Investments Group
United Kingdom
$687K +$202K +14,446 +38%
SGI
54
Summit Global Investments
Utah
$673K +$721K +51,600 New
MERSOM
55
Municipal Employees' Retirement System of Michigan
Michigan
$666K +$714K +51,040 New
First Trust Advisors
56
First Trust Advisors
Illinois
$621K +$105K +7,491 +19%
California Public Employees Retirement System
57
California Public Employees Retirement System
California
$602K -$62.9K -4,495 -9%
SG Americas Securities
58
SG Americas Securities
New York
$555K +$443K +31,655 +290%
California State Teachers Retirement System (CalSTRS)
59
California State Teachers Retirement System (CalSTRS)
California
$536K – – –
JIR
60
James Investment Research
Ohio
$524K +$54.3K +3,885 +11%
RhumbLine Advisers
61
RhumbLine Advisers
Massachusetts
$493K +$155K +11,073 +41%
HIM
62
Hillsdale Investment Management
Ontario, Canada
$454K +$487K +34,800 New
CP
63
Camelot Portfolios
Ohio
$437K -$355K -25,410 -43%
AG
64
Aperio Group
California
$420K +$29.5K +2,110 +7%
New York State Common Retirement Fund
65
New York State Common Retirement Fund
New York
$368K – – –
State Board of Administration of Florida Retirement System
66
State Board of Administration of Florida Retirement System
Florida
$349K +$29.2K +2,089 +8%
Connor, Clark & Lunn Investment Management (CC&L)
67
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$347K -$100K -7,179 -21%
Prudential Financial
68
Prudential Financial
New Jersey
$343K -$118K -8,421 -24%
Los Angeles Capital Management
69
Los Angeles Capital Management
California
$334K +$358K +25,600 New
T. Rowe Price Associates
70
T. Rowe Price Associates
Maryland
$320K +$503 +36 +0.1%
JP Morgan Chase
71
JP Morgan Chase
New York
$309K +$86.8K +6,207 +35%
AM
72
Ares Management
California
$289K -$23.8K -1,699 -7%
AWA
73
Arete Wealth Advisors
Illinois
$269K +$70 +5 +0%
HighTower Advisors
74
HighTower Advisors
Illinois
$263K -$5.59K -400 -2%
Principal Financial Group
75
Principal Financial Group
Iowa
$249K +$267K +19,068 New
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.