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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
California State Teachers Retirement System (CalSTRS)
76
California State Teachers Retirement System (CalSTRS)
California
$3.56M -$73.8K -1,141 -2%
TCM
77
Tuttle Capital Management
Connecticut
$3.49M +$3.26M +50,374 New
Renaissance Technologies
78
Renaissance Technologies
New York
$3.38M -$6.48M -100,147 -67%
PSUF
79
People's United Financial
Connecticut
$3.29M +$112K +1,734 +4%
California Public Employees Retirement System
80
California Public Employees Retirement System
California
$3.18M +$663K +10,247 +29%
BCP
81
Blue Chip Partners
Michigan
$3.11M +$11.7K +181 +0.4%
RA
82
Rational Advisors
New York
$2.84M +$2.65M +40,922 New
MNG
83
Manning & Napier Group
New York
$2.83M +$157K +2,425 +6%
Comerica Bank
84
Comerica Bank
Texas
$2.66M +$291K +4,503 +13%
CM
85
Castleark Management
Illinois
$2.61M -$4.93M -76,142 -67%
New York State Common Retirement Fund
86
New York State Common Retirement Fund
New York
$2.43M +$349K +5,400 +18%
Public Sector Pension Investment Board (PSP Investments)
87
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$2.39M -$1.72M -26,600 -44%
AAM
88
Advisors Asset Management
Colorado
$2.26M -$1.02M -15,751 -33%
RCAMU
89
Rothschild & Co Asset Management US
Connecticut
$2.25M +$516K +7,976 +33%
TYCC
90
Texas Yale Capital Corp
Florida
$2.19M +$1.02M +15,800 +100%
TIAAOA
91
Teachers Insurance & Annuity Association of America
New York
$2.15M -$1.01M -15,538 -33%
D.E. Shaw & Co
92
D.E. Shaw & Co
New York
$2.06M -$9.39M -145,123 -83%
Stifel Financial
93
Stifel Financial
Missouri
$2.05M -$34.2K -529 -2%
SI
94
Stephens Inc
Arkansas
$1.94M -$29.4K -455 -2%
AG
95
Aperio Group
California
$1.87M +$265K +4,091 +18%
AIG
96
American International Group
New York
$1.79M -$21K -325 -1%
TPSF
97
Texas Permanent School Fund
Texas
$1.77M +$191K +2,949 +13%
IA
98
IndexIQ Advisors
New York
$1.75M -$90.4K -1,397 -5%
State of Tennessee, Department of Treasury
99
State of Tennessee, Department of Treasury
Tennessee
$1.66M +$53K +819 +4%
HI
100
Honeywell International
North Carolina
$1.65M +$1.54M +23,745 New
2 3
4
5 6

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.