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KREF

KKR Real Estate Finance Trust
KREF

103 hedge funds and large institutions have $909M invested in KKR Real Estate Finance Trust in 2019 Q2 according to their latest regulatory filings, with 15 funds opening new positions, 47 increasing their positions, 22 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

114% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 22

50% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 10

3.76% more ownership

Funds ownership: 75.67% → 79.43% (+3.8%)

3% more funds holding

Funds holding: 100 → 103 (+3)

1% more capital invested

Capital invested by funds: $898M → $909M (+$10.7M)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

Holders
103
Holders Change
+3
Holders Change %
+3%
% of All Funds
2.24%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
15
Increased
47
Reduced
22
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
CGM
Capital Growth Management
Massachusetts
+$17.7M
2
CCM
Callodine Capital Management
Massachusetts
+$5.71M
3
N
Nuveen
North Carolina
+$5.1M
4
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$3.9M
5
BlackRock
BlackRock
New York
+$2.33M

Top Sellers

Rank Fund Capital Flow
1
EM
Elliott Management
New York
-$10.4M
2
Renaissance Technologies
Renaissance Technologies
New York
-$5M
3
Bank of America
Bank of America
North Carolina
-$2.78M
4
Deutsche Bank
Deutsche Bank
Germany
-$2.62M
5
First Trust Advisors
First Trust Advisors
Illinois
-$2.17M
Name Holding Trade Value Shares
Change 		Change in
Stake
RhumbLine Advisers
51
RhumbLine Advisers
Massachusetts
$729K +$102K +5,064 +16%
Connor, Clark & Lunn Investment Management (CC&L)
52
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$664K -$125K -6,190 -16%
Deutsche Bank
53
Deutsche Bank
Germany
$651K -$2.62M -129,930 -80%
AM
54
Ares Management
California
$583K +$591K +29,250 New
MAM
55
Meeder Asset Management
Ohio
$575K +$468K +23,170 +409%
New York State Common Retirement Fund
56
New York State Common Retirement Fund
New York
$556K +$204K +10,100 +57%
Voloridge Investment Management
57
Voloridge Investment Management
Florida
$507K +$514K +25,462 New
SCM
58
Shapiro Capital Management
Georgia
$498K – – –
P
59
&Partners
Tennessee
$478K +$21.4K +1,060 +5%
California Public Employees Retirement System
60
California Public Employees Retirement System
California
$477K +$484K +23,966 New
Stifel Financial
61
Stifel Financial
Missouri
$436K +$451K +22,317 New
AllianceBernstein
62
AllianceBernstein
Tennessee
$420K +$129K +6,400 +44%
GCP
63
GSA Capital Partners
United Kingdom
$417K +$58.5K +2,898 +16%
UBS AM
64
UBS AM
Illinois
$398K +$125K +6,198 +45%
LPL Financial
65
LPL Financial
California
$384K +$86.8K +4,295 +29%
USAA
66
United Services Automobile Association
Texas
$381K +$31.1K +1,537 +9%
Susquehanna International Group
67
Susquehanna International Group
Pennsylvania
$361K +$367K +18,146 New
KPW
68
Kore Private Wealth
New York
$359K – – –
SCM
69
Symons Capital Management
Pennsylvania
$335K -$1.41K -70 -0.4%
Thrivent Financial for Lutherans
70
Thrivent Financial for Lutherans
Minnesota
$329K -$261K -12,906 -44%
AIG
71
American International Group
New York
$320K +$47.6K +2,357 +17%
IA
72
IndexIQ Advisors
New York
$304K -$23.9K -1,181 -7%
Manulife (Manufacturers Life Insurance)
73
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$287K +$291K +14,425 New
Russell Investments Group
74
Russell Investments Group
United Kingdom
$279K +$149K +7,369 +109%
WCM
75
Weld Capital Management
New York
$269K +$273K +13,521 New
1 2
3
4 5

KREF Hedge Fund Activity: Q2 2019 in Review

103 of the 4,605 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q2 2019, worth a combined $909M — up 1.2% from $898M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new KREF positions and 10 closed out — a net gain of 5 holders — while 47 added to existing stakes and 22 trimmed.

The largest buyer was Capital Growth Management, adding an estimated $17.7M. The largest seller was Elliott Management, exiting entirely with an estimated $10.4M sold.

  • 103 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q2 2019, up from 100 in Q1 2019.
  • Funds reported $909M of KKR Real Estate Finance Trust stock for Q2 2019, up 1.2% quarter-over-quarter.
  • 15 funds opened new KKR Real Estate Finance Trust positions in Q2 2019 and 10 closed out, a net change of +5 holders.
  • The largest KKR Real Estate Finance Trust buyer in Q2 2019 was Capital Growth Management, an estimated $17.7M added.
  • The largest KKR Real Estate Finance Trust seller in Q2 2019 was Elliott Management, an estimated $10.4M sold.

Based on aggregated 13F filings for Q2 2019.