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KREF

KKR Real Estate Finance Trust
KREF

129 hedge funds and large institutions have $801M invested in KKR Real Estate Finance Trust in 2020 Q2 according to their latest regulatory filings, with 23 funds opening new positions, 52 increasing their positions, 39 reducing their positions, and 24 closing their positions.

New
Increased
Maintained
Reduced
Closed

33% more repeat investments, than reductions

Existing positions increased: 52 | Existing positions reduced: 39

9% more capital invested

Capital invested by funds: $732M → $801M (+$69.2M)

2.23% more ownership

Funds ownership: 84.79% → 87.01% (+2.2%)

1% less funds holding

Funds holding: 130 → 129 (-1)

4% less first-time investments, than exits

New positions opened: 23 | Existing positions closed: 24

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
129
Holders Change
-1
Holders Change %
-0.77%
% of All Funds
2.65%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.02%
New
23
Increased
52
Reduced
39
Closed
24
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
+$24.4M
2
Vanguard Group
Vanguard Group
Pennsylvania
+$8.32M
3
Mirae Asset Global Investments
Mirae Asset Global Investments
South Korea
+$7.67M
4
WG
Winton Group
United Kingdom
+$4.43M
5
JP Morgan Chase
JP Morgan Chase
New York
+$3.01M

Top Sellers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
-$28.2M
2
Acadian Asset Management
Acadian Asset Management
Massachusetts
-$10.7M
3
CCM
Callodine Capital Management
Massachusetts
-$8.31M
4
SCP
Steamboat Capital Partners
New York
-$5.08M
5
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
-$2.21M
Name Holding Trade Value Shares
Change 		Change in
Stake
Bank of America
76
Bank of America
North Carolina
$297K +$23.1K +1,462 +9%
Allianz Asset Management
77
Allianz Asset Management
Germany
$297K +$283K +17,900 New
DTL
78
Dynamic Technology Lab
Singapore
$297K +$283K +17,909 New
Squarepoint
79
Squarepoint
New York
$294K +$281K +17,735 New
Stifel Financial
80
Stifel Financial
Missouri
$289K +$66.3K +4,192 +32%
Manulife (Manufacturers Life Insurance)
81
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$274K +$17K +1,076 +7%
SG Americas Securities
82
SG Americas Securities
New York
$259K +$91.7K +5,797 +59%
MIM
83
MetLife Investment Management
New Jersey
$249K +$78.1K +4,934 +49%
JMPWA
84
JP Morgan Private Wealth Advisors
California
$246K – – –
New York State Teachers Retirement System (NYSTRS)
85
New York State Teachers Retirement System (NYSTRS)
New York
$239K -$4.75K -300 -2%
Renaissance Technologies
86
Renaissance Technologies
New York
$235K -$1.85M -116,900 -89%
UBS Group
87
UBS Group
Switzerland
$232K +$140K +8,821 +169%
State of Tennessee, Department of Treasury
88
State of Tennessee, Department of Treasury
Tennessee
$227K -$25.5K -1,611 -11%
Citigroup
89
Citigroup
New York
$221K +$82.3K +5,199 +64%
Deutsche Bank
90
Deutsche Bank
Germany
$220K +$67.6K +4,272 +48%
COPPSERS
91
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$194K -$6.63K -419 -3%
IA
92
IndexIQ Advisors
New York
$193K -$65.2K -4,119 -26%
SDWIA
93
Schwarz Dygos Wheeler Investment Advisors
Minnesota
$193K +$198K +12,517 New
GC
94
Guggenheim Capital
Illinois
$170K -$80.1K -5,059 -33%
OPERF
95
Oregon Public Employees Retirement Fund
Oregon
$162K – – –
MLICM
96
Metropolitan Life Insurance Company (MetLife)
New York
$157K +$32K +2,020 +27%
Royal Bank of Canada
97
Royal Bank of Canada
Ontario, Canada
$146K -$6.08K -384 -4%
MSA
98
Mason Street Advisors
Wisconsin
$145K +$5.35K +338 +4%
SO
99
STRS Ohio
Ohio
$126K +$14.2K +900 +13%
TRSOTSOK
100
Teachers Retirement System of the State of Kentucky
Kentucky
$121K – – –
2 3
4
5 6

KREF Hedge Fund Activity: Q2 2020 in Review

129 of the 4,877 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q2 2020, worth a combined $801M — up 9.5% from $732M a quarter earlier.

Sellers outnumbered buyers: 24 funds closed out of KREF and 23 opened new positions — a net loss of 1 holder — while 39 trimmed existing stakes and 52 added.

The largest buyer was Goldman Sachs, adding an estimated $24.4M. The largest seller was Invesco, cutting an estimated $28.2M.

  • 129 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q2 2020, down from 130 in Q1 2020.
  • Funds reported $801M of KKR Real Estate Finance Trust stock for Q2 2020, up 9.5% quarter-over-quarter.
  • 23 funds opened new KKR Real Estate Finance Trust positions in Q2 2020 and 24 closed out, a net change of -1 holder.
  • The largest KKR Real Estate Finance Trust buyer in Q2 2020 was Goldman Sachs, an estimated $24.4M added.
  • The largest KKR Real Estate Finance Trust seller in Q2 2020 was Invesco, an estimated $28.2M sold.

Based on aggregated 13F filings for Q2 2020.