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ACRE

Ares Commercial Real Estate
ACRE

112 hedge funds and large institutions have $248M invested in Ares Commercial Real Estate in 2017 Q1 according to their latest regulatory filings, with 10 funds opening new positions, 42 increasing their positions, 44 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0.6% less ownership

Funds ownership: 65.6% → 65% (-0.6%)

3% less capital invested

Capital invested by funds: $256M → $248M (-$8.89M)

5% less repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 44

10% less funds holding

Funds holding: 124 → 112 (-12)

41% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 17

75% less call options, than puts

Call options by funds: $29K | Put options by funds: $118K

Holders
112
Holders Change
-12
Holders Change %
-9.68%
% of All Funds
2.79%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
10
Increased
42
Reduced
44
Closed
17
Calls
$29K
Puts
$118K
Net Calls
-$89K
Net Calls Change
-$89K

Top Buyers

1
BlackRock
BlackRock
New York
+$37.2M
2
CCP
Clough Capital Partners
Massachusetts
+$2.03M
3
TC
Telemus Capital
Michigan
+$1.63M
4
N
Nuveen
North Carolina
+$1.59M
5
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$1.19M

Top Sellers

1
AllianceBernstein
AllianceBernstein
Tennessee
-$2.33M
2
Acadian Asset Management
Acadian Asset Management
Massachusetts
-$1.77M
3
Morgan Stanley
Morgan Stanley
New York
-$1.66M
4
Wells Fargo
Wells Fargo
California
-$1.41M
5
JIR
James Investment Research
Ohio
-$1.12M
Name Holding Trade Value Shares
Change 		Change in
Stake
AG
101
Advisor Group
Arizona
$8K – – –
LTFS
102
Ladenburg Thalmann Financial Services
Florida
$7K -$2.95K -219 -30%
QI
103
QS Investors
New York
$6K -$127K -9,400 -95%
HR
104
Howe & Rusling
New York
$5K -$607 -45 -10%
QCG
105
Quadrant Capital Group
Ohio
$3K +$3.9K +289 New
EFSCE
106
Enterprise Financial Services Corp (EFSC)
Missouri
$2K – – –
PA
107
Parallel Advisors
California
$2K – – –
US Bancorp
108
US Bancorp
Minnesota
$2K – – –
Envestnet Asset Management
109
Envestnet Asset Management
Illinois
$1K – – –
JIR
110
James Investment Research
Ohio
– -$1.12M -81,650 Closed
Bank of Montreal
111
Bank of Montreal
Ontario, Canada
– -$947K -70,000 Closed
GC
112
Gratia Capital
California
– -$689K -50,154 Closed
HIM
113
Hillsdale Investment Management
Ontario, Canada
– -$553K -40,300 Closed
Balyasny Asset Management
114
Balyasny Asset Management
Illinois
– -$297K -21,603 Closed
AAM
115
Advisors Asset Management
Colorado
– -$294K -21,444 Closed
CCIA
116
Campbell & Co Investment Adviser
Maryland
– -$211K -15,347 Closed
SB
117
Suntrust Banks
Georgia
– -$209K -15,309 Closed
CA
118
Cetera Advisors
Colorado
– -$188K -13,802 Closed
CS
119
Credit Suisse
Switzerland
– -$189K -13,787 Closed
Grantham, Mayo, Van Otterloo & Co (GMO)
120
Grantham, Mayo, Van Otterloo & Co (GMO)
Massachusetts
– -$159K -11,616 Closed
BF
121
BOK Financial
Oklahoma
– -$154K -11,167 Closed
CCMH
122
Cornerstone Capital Management Holdings
New York
– -$91K -6,700 Closed
SEI Investments
123
SEI Investments
Pennsylvania
– -$89.3K -6,620 -100%
GH
124
GAM Holding
Switzerland
– -$37K -2,686 Closed
MA
125
MUFG Americas
New York
– -$5K -379 Closed
2 3 4
5
6

ACRE Hedge Fund Activity: Q1 2017 in Review

112 of the 4,017 institutional investors tracked by Wall St. Rank reported a position in Ares Commercial Real Estate (ACRE) for Q1 2017, worth a combined $248M — down 3.5% from $256M a quarter earlier.

Sellers outnumbered buyers: 17 funds closed out of ACRE and 10 opened new positions — a net loss of 7 holders — while 44 trimmed existing stakes and 42 added.

The largest buyer was BlackRock, adding an estimated $37.2M. The largest seller was AllianceBernstein, cutting an estimated $2.33M.

  • 112 institutional investors held Ares Commercial Real Estate (ACRE) as of Q1 2017, down from 124 in Q4 2016.
  • Funds reported $248M of Ares Commercial Real Estate stock for Q1 2017, down 3.5% quarter-over-quarter.
  • 10 funds opened new Ares Commercial Real Estate positions in Q1 2017 and 17 closed out, a net change of -7 holders.
  • The largest Ares Commercial Real Estate buyer in Q1 2017 was BlackRock, an estimated $37.2M added.
  • The largest Ares Commercial Real Estate seller in Q1 2017 was AllianceBernstein, an estimated $2.33M sold.

Based on aggregated 13F filings for Q1 2017.