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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
LSERS
126
Louisiana State Employees Retirement System
Louisiana
$971K +$66.2K +1,023 +8%
OPERF
127
Oregon Public Employees Retirement Fund
Oregon
$926K +$15.6K +241 +2%
COPPSERS
128
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$894K +$69.4K +1,073 +9%
MLICM
129
Metropolitan Life Insurance Company (MetLife)
New York
$870K -$5.31K -82 -0.6%
USAA
130
United Services Automobile Association
Texas
$865K +$244K +3,766 +43%
MSA
131
Mason Street Advisors
Wisconsin
$837K +$88K +1,360 +13%
Macquarie Group
132
Macquarie Group
Australia
$832K – – –
MC
133
Menta Capital
California
$790K +$408K +6,300 +124%
MERSOM
134
Municipal Employees' Retirement System of Michigan
Michigan
$766K +$69.9K +1,080 +11%
Daiwa Securities Group
135
Daiwa Securities Group
Japan
$742K +$149K +2,300 +27%
TRSOTSOK
136
Teachers Retirement System of the State of Kentucky
Kentucky
$656K +$64.7K +1,000 +12%
PIA
137
Piedmont Investment Advisors
North Carolina
$648K +$74.4K +1,150 +14%
GHCM
138
Glen Harbor Capital Management
California
$620K – – –
BAM
139
Blueshift Asset Management
New Jersey
$613K +$572K +8,845 New
ACI
140
AMP Capital Investors
Australia
$599K +$4.4K +68 +0.8%
PI
141
PineBridge Investments
New York
$586K -$528K -8,161 -49%
GKIM
142
GW&K Investment Management
Massachusetts
$580K +$1.17K +18 +0.2%
Zurich Cantonal Bank
143
Zurich Cantonal Bank
Switzerland
$574K -$33.6K -520 -6%
NGA
144
Naples Global Advisors
Florida
$571K -$171K -2,650 -24%
BNP Paribas Financial Markets
145
BNP Paribas Financial Markets
France
$570K +$419K +6,483 +374%
FWIA
146
Fort Washington Investment Advisors
Ohio
$569K -$155K -2,400 -23%
CGH
147
Crossmark Global Holdings
Texas
$548K +$28.5K +440 +6%
XK
148
Xact Kapitalforvaltning
Sweden
$536K – – –
SCM
149
Symons Capital Management
Pennsylvania
$521K – – –
HSBC Holdings
150
HSBC Holdings
United Kingdom
$516K +$120K +1,859 +33%
4 5
6
7 8

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.