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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
HI
126
Harbour Investments
Wisconsin
$9K +$8.38K +400 New
Fifth Third Bancorp
127
Fifth Third Bancorp
Ohio
$6K -$230 -11 -4%
Macquarie Group
128
Macquarie Group
Australia
$6K – – –
Group One Trading
129
Group One Trading
Illinois
$6K +$6.28K +300 New
SWM
130
Spire Wealth Management
Virginia
$4K +$4.19K +200 New
LAS
131
Lloyd Advisory Services
Georgia
$1K +$1.05K +50 New
TPCW
132
TD Private Client Wealth
New York
$735 – – –
Nisa Investment Advisors
133
Nisa Investment Advisors
Missouri
$543 -$28.1K -1,343 -5%
AIG
134
American International Group
New York
$444 +$34K +1,623 +9%
Balyasny Asset Management
135
Balyasny Asset Management
Illinois
– -$3.75M -204,089 Closed
Millennium Management
136
Millennium Management
New York
– -$2.62M -142,374 Closed
D.E. Shaw & Co
137
D.E. Shaw & Co
New York
– -$1.72M -93,480 Closed
Arrowstreet Capital
138
Arrowstreet Capital
Massachusetts
– -$1.39M -75,400 Closed
California Public Employees Retirement System
139
California Public Employees Retirement System
California
– -$1.07M -58,100 Closed
Two Sigma Investments
140
Two Sigma Investments
New York
– -$897K -48,801 Closed
Tudor Investment Corp
141
Tudor Investment Corp
Connecticut
– -$733K -39,833 Closed
Stifel Financial
142
Stifel Financial
Missouri
– -$723K -39,300 Closed
CC
143
Claybrook Capital
Massachusetts
– -$500K -27,200 Closed
JG
144
Jefferies Group
New York
– -$493K -26,800 Closed
HSBC Holdings
145
HSBC Holdings
United Kingdom
– -$458K -24,704 Closed
Jane Street
146
Jane Street
New York
– -$406K -22,062 Closed
Verition Fund Management
147
Verition Fund Management
Connecticut
– -$348K -18,924 Closed
QI
148
QS Investors
New York
– -$332K -18,000 Closed
AIM
149
Aigen Investment Management
New York
– -$246K -13,354 Closed
HF
150
HRT Financial
New York
– -$239K -13,024 Closed
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.