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KREF

KKR Real Estate Finance Trust
KREF

137 hedge funds and large institutions have $989M invested in KKR Real Estate Finance Trust in 2021 Q2 according to their latest regulatory filings, with 28 funds opening new positions, 58 increasing their positions, 29 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more repeat investments, than reductions

Existing positions increased: 58 | Existing positions reduced: 29

47% more first-time investments, than exits

New positions opened: 28 | Existing positions closed: 19

11% more capital invested

Capital invested by funds: $891M → $989M (+$98.5M)

7% more funds holding

Funds holding: 128 → 137 (+9)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

4.85% less ownership

Funds ownership: 87.11% → 82.25% (-4.9%)

47% less call options, than puts

Call options by funds: $519K | Put options by funds: $971K

Holders
137
Holders Change
+9
Holders Change %
+7.03%
% of All Funds
2.38%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
28
Increased
58
Reduced
29
Closed
19
Calls
$519K
Puts
$971K
Net Calls
-$452K
Net Calls Change
-$452K

Top Buyers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
+$15.2M
2
Invesco
Invesco
Georgia
+$12.5M
3
Aviva
Aviva
United Kingdom
+$7.44M
4
N
Nuveen
North Carolina
+$7.41M
5
First Trust Advisors
First Trust Advisors
Illinois
+$6.88M

Top Sellers

Rank Fund Capital Flow
1
KKRC
Kohlberg Kravis Roberts & Co
New York
-$120M
2
Renaissance Technologies
Renaissance Technologies
New York
-$4.01M
3
Balyasny Asset Management
Balyasny Asset Management
Illinois
-$3.75M
4
Millennium Management
Millennium Management
New York
-$2.62M
5
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$1.72M
Name Holding Trade Value Shares
Change 		Change in
Stake
LPL Financial
76
LPL Financial
California
$404K +$392K +18,700 New
CCIA
77
Campbell & Co Investment Adviser
Maryland
$376K +$364K +17,400 New
KFA
78
Kelleher Financial Advisors
New York
$352K +$340K +16,255 New
RJFSA
79
Raymond James Financial Services Advisors
Florida
$348K +$337K +16,104 New
KPW
80
Kore Private Wealth
New York
$346K -$68.9K -3,291 -17%
State of Tennessee, Department of Treasury
81
State of Tennessee, Department of Treasury
Tennessee
$346K +$12K +572 +4%
JMPWA
82
JP Morgan Private Wealth Advisors
California
$321K – – –
AB
83
Amalgamated Bank
New York
$307K +$297K +14,179 New
BNP Paribas Financial Markets
84
BNP Paribas Financial Markets
France
$299K -$47.1K -2,249 -14%
State of Wisconsin Investment Board
85
State of Wisconsin Investment Board
Wisconsin
$294K +$285K +13,600 New
Royal Bank of Canada
86
Royal Bank of Canada
Ontario, Canada
$269K +$238K +11,388 +1,088%
LSERS
87
Louisiana State Employees Retirement System
Louisiana
$266K -$2.09K -100 -0.8%
MIM
88
MetLife Investment Management
New Jersey
$262K – – –
TRCT
89
Tower Research Capital (TRC)
New York
$250K -$136K -6,509 -36%
SDWIA
90
Schwarz Dygos Wheeler Investment Advisors
Minnesota
$249K – – –
New York State Teachers Retirement System (NYSTRS)
91
New York State Teachers Retirement System (NYSTRS)
New York
$248K -$42.6K -2,033 -15%
Baird Financial Group
92
Baird Financial Group
Wisconsin
$242K – – –
OPERF
93
Oregon Public Employees Retirement Fund
Oregon
$239K – – –
XT
94
XTX Topco
Cayman Islands
$228K +$221K +10,544 New
APA
95
American Portfolios Advisors
New York
$220K +$213K +10,193 New
DT
96
Diversified Trust
Tennessee
$214K +$207K +9,877 New
SIC
97
Samalin Investment Counsel
New York
$212K +$206K +9,820 New
MLICM
98
Metropolitan Life Insurance Company (MetLife)
New York
$207K +$23.9K +1,141 +14%
TW
99
TrinityPoint Wealth
Connecticut
$202K +$196K +9,350 New
Bank of Montreal
100
Bank of Montreal
Ontario, Canada
$200K +$51.8K +2,473 +38%
2 3
4
5 6

KREF Hedge Fund Activity: Q2 2021 in Review

137 of the 5,745 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q2 2021, worth a combined $989M — up 11% from $891M a quarter earlier.

Buyers outnumbered sellers: 28 funds opened new KREF positions and 19 closed out — a net gain of 9 holders — while 58 added to existing stakes and 29 trimmed.

The largest buyer was Vanguard Group, adding an estimated $15.2M. The largest seller was Kohlberg Kravis Roberts & Co, cutting an estimated $120M.

  • 137 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q2 2021, up from 128 in Q1 2021.
  • Funds reported $989M of KKR Real Estate Finance Trust stock for Q2 2021, up 11% quarter-over-quarter.
  • 28 funds opened new KKR Real Estate Finance Trust positions in Q2 2021 and 19 closed out, a net change of +9 holders.
  • The largest KKR Real Estate Finance Trust buyer in Q2 2021 was Vanguard Group, an estimated $15.2M added.
  • The largest KKR Real Estate Finance Trust seller in Q2 2021 was Kohlberg Kravis Roberts & Co, an estimated $120M sold.

Based on aggregated 13F filings for Q2 2021.