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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
BlackRock
1
BlackRock
New York
$34.2M -$690K -51,939 -2%
Boston Partners
2
Boston Partners
Massachusetts
$30.9M +$2.51M +188,716 +9%
DFG
3
Delphi Financial Group
Delaware
$19M – – –
Vanguard Group
4
Vanguard Group
Pennsylvania
$16.1M +$11.6K +874 +0.1%
State Street
5
State Street
Massachusetts
$9.89M +$522K +39,242 +5%
AllianceBernstein
6
AllianceBernstein
Tennessee
$7.52M -$267K -20,082 -3%
TC
7
Telemus Capital
Michigan
$6.71M +$641K +48,253 +10%
Morgan Stanley
8
Morgan Stanley
New York
$6.54M +$311K +23,379 +5%
Nomura Holdings
9
Nomura Holdings
Japan
$6.29M +$117K +8,823 +2%
Wells Fargo
10
Wells Fargo
California
$5.17M +$77.1K +5,799 +1%
Millennium Management
11
Millennium Management
New York
$4.81M -$281K -21,126 -5%
Neuberger Berman Group
12
Neuberger Berman Group
New York
$4.77M -$472K -35,475 -9%
Bank of America
13
Bank of America
North Carolina
$4.51M +$118K +8,876 +3%
Northern Trust
14
Northern Trust
Illinois
$3.97M -$44.3K -3,335 -1%
AAMU
15
AEGON Asset Management (UK)
United Kingdom
$3.64M +$244K +18,369 +7%
ACM
16
Advisors Capital Management
New Jersey
$3.44M -$47.2K -3,554 -1%
KCM
17
Kennedy Capital Management
Missouri
$3.43M -$455K -34,197 -11%
BCM
18
Buckhead Capital Management
Georgia
$3.07M – – –
Geode Capital Management
19
Geode Capital Management
Massachusetts
$3.03M -$12.5K -941 -0.4%
YMRC
20
Yorktown Management & Research Company
Virginia
$2.97M – – –
RVPG
21
Relative Value Partners Group
$2.96M -$1.06M -79,612 -26%
N
22
Nuveen
North Carolina
$2.84M -$2.69M -202,581 -48%
LSV Asset Management
23
LSV Asset Management
Illinois
$2.4M +$685K +51,500 +38%
DM
24
Delphi Management
Massachusetts
$2.25M +$1.47M +110,538 +173%
CHAM
25
Clear Harbor Asset Management
Connecticut
$2.25M -$47.7K -3,590 -2%
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.