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Agree Realty
ADC

240 hedge funds and large institutions have $2.8B invested in Agree Realty in 2019 Q1 according to their latest regulatory filings, with 28 funds opening new positions, 96 increasing their positions, 77 reducing their positions, and 32 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more repeat investments, than reductions

Existing positions increased: 96 | Existing positions reduced: 77

20% more capital invested

Capital invested by funds: $2.34B → $2.8B (+$465M)

2% less funds holding

Funds holding: 245 → 240 (-5)

7.34% less ownership

Funds ownership: 114.77% → 107.43% (-7.3%)

13% less first-time investments, than exits

New positions opened: 28 | Existing positions closed: 32

67% less funds holding in top 10

Funds holding in top 10: 3 → 1 (-2)

Holders
240
Holders Change
-5
Holders Change %
-2.04%
% of All Funds
5.19%
Holding in Top 10
1
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-66.67%
% of All Funds
0.02%
New
28
Increased
96
Reduced
77
Closed
32
Calls
$266K
Puts
–
Net Calls
+$266K
Net Calls Change
+$264K

Top Buyers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
+$83.9M
2
Invesco
Invesco
Georgia
+$46.5M
3
State Street
State Street
Massachusetts
+$19.7M
4
BlackRock
BlackRock
New York
+$19.3M
5
Deutsche Bank
Deutsche Bank
Germany
+$6M

Top Sellers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
-$12.1M
2
MPAM
Monarch Partners Asset Management
Massachusetts
-$11.2M
3
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$9.39M
4
MWNA
Marshall Wace North America
New York
-$7.05M
5
HRES
Heitman Real Estate Securities
Illinois
-$7M
Name Holding Trade Value Shares
Change 		Change in
Stake
Millennium Management
51
Millennium Management
New York
$6.26M +$5.43M +83,908 +1,322%
CEP
52
Chicago Equity Partners
Illinois
$5.89M +$3.64M +56,180 +195%
CS
53
Credit Suisse
Switzerland
$5.79M -$10.2K -157 -0.2%
New York State Teachers Retirement System (NYSTRS)
54
New York State Teachers Retirement System (NYSTRS)
New York
$5.46M +$129K +2,001 +3%
SMDAM
55
Sumitomo Mitsui DS Asset Management
Japan
$5.37M -$4.11M -63,482 -45%
Bank of America
56
Bank of America
North Carolina
$5.32M -$2.29M -35,435 -32%
BNP Paribas Asset Management
57
BNP Paribas Asset Management
France
$5.28M -$4.11M -63,482 -45%
CIMLRA
58
CBRE Investment Management Listed Real Assets
Pennsylvania
$5.21M -$1.09M -16,897 -18%
MPAM
59
Monarch Partners Asset Management
Massachusetts
$5.13M -$11.2M -173,133 -70%
WBC
60
Westpac Banking Corp
Australia
$5.06M -$1.9M -29,400 -29%
HNB
61
Huntington National Bank
Ohio
$4.85M -$130K -2,016 -3%
LIMS
62
Lasalle Investment Management Securities
Maryland
$4.77M -$4.92K -76 -0.1%
VRS
63
Virginia Retirement Systems
Virginia
$4.6M -$1.68M -25,900 -28%
Thrivent Financial for Lutherans
64
Thrivent Financial for Lutherans
Minnesota
$4.59M +$908K +14,032 +27%
Citigroup
65
Citigroup
New York
$4.46M +$1.9M +29,427 +84%
RJA
66
Raymond James & Associates
Florida
$4.42M +$138K +2,140 +3%
Envestnet Asset Management
67
Envestnet Asset Management
Illinois
$4.41M -$19.3K -299 -0.5%
Swiss National Bank
68
Swiss National Bank
Switzerland
$4.36M +$518K +8,000 +15%
ERSOT
69
Employees Retirement System of Texas
Texas
$4.3M -$2.39M -37,000 -37%
Prudential Financial
70
Prudential Financial
New Jersey
$4.21M +$314K +4,855 +9%
AAMU
71
Amundi Asset Management US
Massachusetts
$4.12M +$80.4K +1,243 +2%
ASRS
72
Arizona State Retirement System
Arizona
$4.02M +$315K +4,866 +9%
First Trust Advisors
73
First Trust Advisors
Illinois
$3.84M +$2M +30,888 +126%
Barclays
74
Barclays
United Kingdom
$3.68M +$1.49M +23,087 +77%
SO
75
STRS Ohio
Ohio
$3.65M -$361K -5,574 -10%
1 2
3
4 5

ADC Hedge Fund Activity: Q1 2019 in Review

240 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Agree Realty (ADC) for Q1 2019, worth a combined $2.8B — up 20% from $2.34B a quarter earlier.

Sellers outnumbered buyers: 32 funds closed out of ADC and 28 opened new positions — a net loss of 4 holders — while 77 trimmed existing stakes and 96 added.

The largest buyer was Vanguard Group, adding an estimated $83.9M. The largest seller was JP Morgan Chase, cutting an estimated $12.1M.

  • 240 institutional investors held Agree Realty (ADC) as of Q1 2019, down from 245 in Q4 2018.
  • Funds reported $2.8B of Agree Realty stock for Q1 2019, up 20% quarter-over-quarter.
  • 28 funds opened new Agree Realty positions in Q1 2019 and 32 closed out, a net change of -4 holders.
  • The largest Agree Realty buyer in Q1 2019 was Vanguard Group, an estimated $83.9M added.
  • The largest Agree Realty seller in Q1 2019 was JP Morgan Chase, an estimated $12.1M sold.

Based on aggregated 13F filings for Q1 2019.