Cornerstone Total Return Fund
CRF
89 hedge funds and large institutions have $201M invested in Cornerstone Total Return Fund in 2025 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 35 increasing their positions, 17 reducing their positions, and 8 closing their positions.
106% more repeat investments, than reductions
Existing positions increased: 35 | Existing positions reduced: 17
75% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 8
7% more funds holding
Funds holding: 83 → 89 (+6)
4.43% less ownership
Funds ownership: 25.85% → 21.42% (-4.4%)
17% less capital invested
Capital invested by funds: $243M → $201M (-$42.3M)
50% less funds holding in top 10
Funds holding in top 10: 4 → 2 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
QL
Quarry LP
New York
|
+$7.96M |
| 2 |
KA
Kovack Advisors
Ft. Lauderdale,
Florida
|
+$2.15M |
| 3 |
Raymond James Financial
St Petersburg,
Florida
|
+$1.63M |
| 4 |
SC
Sculptor Capital
New York
|
+$1.12M |
| 5 |
Osaic Holdings
Scottsdale,
Arizona
|
+$1.06M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AGM
Alpine Global Management
New York
|
-$17.3M |
| 2 |
BFM
Boothbay Fund Management
New York
|
-$14.1M |
| 3 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$11M |
| 4 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$10.4M |
| 5 |
YCM
Yakira Capital Management
Westport,
Connecticut
|
-$6.37M |
CRF Hedge Fund Activity: Q4 2025 in Review
89 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Cornerstone Total Return Fund (CRF) for Q4 2025, worth a combined $201M — down 17% from $243M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new CRF positions and 8 closed out — a net gain of 6 holders — while 35 added to existing stakes and 17 trimmed.
The largest buyer was Quarry LP, adding an estimated $7.96M. The largest seller was Alpine Global Management, cutting an estimated $17.3M.
- 89 institutional investors held Cornerstone Total Return Fund (CRF) as of Q4 2025, up from 83 in Q3 2025.
- Funds reported $201M of Cornerstone Total Return Fund stock for Q4 2025, down 17% quarter-over-quarter.
- 14 funds opened new Cornerstone Total Return Fund positions in Q4 2025 and 8 closed out, a net change of +6 holders.
- The largest Cornerstone Total Return Fund buyer in Q4 2025 was Quarry LP, an estimated $7.96M added.
- The largest Cornerstone Total Return Fund seller in Q4 2025 was Alpine Global Management, an estimated $17.3M sold.
Based on aggregated 13F filings for Q4 2025.