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KREF

KKR Real Estate Finance Trust
KREF

146 hedge funds and large institutions have $967M invested in KKR Real Estate Finance Trust in 2021 Q3 according to their latest regulatory filings, with 28 funds opening new positions, 61 increasing their positions, 30 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

103% more repeat investments, than reductions

Existing positions increased: 61 | Existing positions reduced: 30

47% more first-time investments, than exits

New positions opened: 28 | Existing positions closed: 19

7% more funds holding

Funds holding: 137 → 146 (+9)

0.11% more ownership

Funds ownership: 82.25% → 82.36% (+0.11%)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

2% less capital invested

Capital invested by funds: $989M → $967M (-$22.2M)

55% less call options, than puts

Call options by funds: $527K | Put options by funds: $1.18M

Holders
146
Holders Change
+9
Holders Change %
+6.57%
% of All Funds
2.56%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
28
Increased
61
Reduced
30
Closed
19
Calls
$527K
Puts
$1.18M
Net Calls
-$650K
Net Calls Change
-$198K

Top Buyers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
+$22.6M
2
ECM
Element Capital Management
New York
+$4.93M
3
Northern Trust
Northern Trust
Illinois
+$4.7M
4
State Street
State Street
Massachusetts
+$3.56M
5
Vanguard Group
Vanguard Group
Pennsylvania
+$3.02M

Top Sellers

Rank Fund Capital Flow
1
Temasek Holdings
Temasek Holdings
Singapore
-$52.8M
2
N
Nuveen
North Carolina
-$2.98M
3
JAM
Jupiter Asset Management
United Kingdom
-$2.7M
4
Renaissance Technologies
Renaissance Technologies
New York
-$2.39M
5
Citadel Advisors
Citadel Advisors
Florida
-$1.85M
Name Holding Trade Value Shares
Change 		Change in
Stake
Deutsche Bank
76
Deutsche Bank
Germany
$461K -$7.87K -371 -2%
KFA
77
Kelleher Financial Advisors
New York
$452K +$110K +5,205 +32%
AIG
78
American International Group
New York
$442K +$8.33K +393 +2%
AllianceBernstein
79
AllianceBernstein
Tennessee
$441K -$53.9K -2,540 -11%
CCIA
80
Campbell & Co Investment Adviser
Maryland
$426K +$59.4K +2,800 +16%
LSERS
81
Louisiana State Employees Retirement System
Louisiana
$411K +$153K +7,200 +59%
LPL Financial
82
LPL Financial
California
$409K +$14.1K +665 +4%
AB
83
Amalgamated Bank
New York
$385K +$86.3K +4,071 +29%
Los Angeles Capital Management
84
Los Angeles Capital Management
California
$377K -$66.2K -3,120 -15%
Lazard Asset Management
85
Lazard Asset Management
New York
$373K +$344K +16,234 +1,119%
Citadel Advisors
86
Citadel Advisors
Florida
$364K -$1.85M -87,440 -84%
IFG
87
Independent Financial Group
California
$350K -$811K -38,255 -70%
Royal Bank of Canada
88
Royal Bank of Canada
Ontario, Canada
$349K +$87K +4,102 +33%
MSRPS
89
Maryland State Retirement & Pension System
Maryland
$340K +$337K +15,887 New
KPW
90
Kore Private Wealth
New York
$338K – – –
State of Tennessee, Department of Treasury
91
State of Tennessee, Department of Treasury
Tennessee
$326K -$13.3K -626 -4%
JMPWA
92
JP Morgan Private Wealth Advisors
California
$313K – – –
EH
93
Equitable Holdings
New York
$306K +$307K +14,500 New
IA
94
IndexIQ Advisors
New York
$297K -$192K -9,054 -39%
Bank of Montreal
95
Bank of Montreal
Ontario, Canada
$274K +$79.3K +3,740 +42%
New York State Teachers Retirement System (NYSTRS)
96
New York State Teachers Retirement System (NYSTRS)
New York
$261K +$19K +897 +8%
MIM
97
MetLife Investment Management
New Jersey
$255K – – –
ECG
98
Edge Capital Group
Georgia
$242K +$243K +11,461 New
OPERF
99
Oregon Public Employees Retirement Fund
Oregon
$231K -$2.12K -100 -0.9%
Stifel Financial
100
Stifel Financial
Missouri
$220K +$222K +10,450 New
2 3
4
5 6

KREF Hedge Fund Activity: Q3 2021 in Review

146 of the 5,712 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q3 2021, worth a combined $967M — down 2.2% from $989M a quarter earlier.

Buyers outnumbered sellers: 28 funds opened new KREF positions and 19 closed out — a net gain of 9 holders — while 61 added to existing stakes and 30 trimmed.

The largest buyer was BlackRock, adding an estimated $22.6M. The largest seller was Temasek Holdings, exiting entirely with an estimated $52.8M sold.

  • 146 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q3 2021, up from 137 in Q2 2021.
  • Funds reported $967M of KKR Real Estate Finance Trust stock for Q3 2021, down 2.2% quarter-over-quarter.
  • 28 funds opened new KKR Real Estate Finance Trust positions in Q3 2021 and 19 closed out, a net change of +9 holders.
  • The largest KKR Real Estate Finance Trust buyer in Q3 2021 was BlackRock, an estimated $22.6M added.
  • The largest KKR Real Estate Finance Trust seller in Q3 2021 was Temasek Holdings, an estimated $52.8M sold.

Based on aggregated 13F filings for Q3 2021.