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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
GWM
101
Geneos Wealth Management
Colorado
$168K +$162K +7,750 New
SO
102
STRS Ohio
Ohio
$162K +$10.5K +500 +7%
TRSOTSOK
103
Teachers Retirement System of the State of Kentucky
Kentucky
$158K – – –
GTAM
104
Global Trust Asset Management
Florida
$156K +$151K +7,200 New
Zurich Cantonal Bank
105
Zurich Cantonal Bank
Switzerland
$126K – – –
Russell Investments Group
106
Russell Investments Group
United Kingdom
$89K – – –
MOACM
107
Mutual of America Capital Management
New York
$84K +$4.96K +237 +7%
PAM
108
Panagora Asset Management
Massachusetts
$78K – – –
PNC Financial Services Group
109
PNC Financial Services Group
Pennsylvania
$77K +$10.4K +496 +16%
EVM
110
Eaton Vance Management
Massachusetts
$77K +$67.1K +3,203 +913%
CCA
111
Catalyst Capital Advisors
New York
$48K +$8.79K +420 +23%
AIP
112
Ameritas Investment Partners
Nebraska
$47K – – –
Osaic Holdings
113
Osaic Holdings
Arizona
$38K +$9.99K +477 +36%
ASN
114
Advisory Services Network
Georgia
$37K +$35.9K +1,716 New
US Bancorp
115
US Bancorp
Minnesota
$34K +$1.42K +68 +4%
Lazard Asset Management
116
Lazard Asset Management
New York
$31K – – –
S
117
SignatureFD
Georgia
$31K +$1.93K +92 +7%
PG
118
Proffitt & Goodson
Tennessee
$30K -$6.68K -319 -19%
SPIA
119
Steward Partners Investment Advisory
New York
$27K -$15.7K -750 -37%
MAM
120
Meeder Asset Management
Ohio
$26K +$15.7K +749 +160%
SWA
121
Sutton Wealth Advisors
Florida
$25.8K – – –
LC
122
Lindbrook Capital
California
$19K – – –
VCM
123
Versant Capital Management
Arizona
$16K -$12.8K -612 -46%
QCG
124
Quadrant Capital Group
Ohio
$14K – – –
GT
125
Glenmede Trust
Pennsylvania
$11K +$11.3K +538 New
3 4
5
6 7

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.