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KREF

KKR Real Estate Finance Trust
KREF

155 hedge funds and large institutions have $615M invested in KKR Real Estate Finance Trust in 2023 Q2 according to their latest regulatory filings, with 16 funds opening new positions, 66 increasing their positions, 48 reducing their positions, and 27 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more repeat investments, than reductions

Existing positions increased: 66 | Existing positions reduced: 48

2% more capital invested

Capital invested by funds: $603M → $615M (+$12.4M)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

3.44% less ownership

Funds ownership: 76.45% → 73.01% (-3.4%)

7% less funds holding

Funds holding: 166 → 155 (-11)

20% less call options, than puts

Call options by funds: $431K | Put options by funds: $537K

41% less first-time investments, than exits

New positions opened: 16 | Existing positions closed: 27

Holders
155
Holders Change
-11
Holders Change %
-6.63%
% of All Funds
2.43%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
16
Increased
66
Reduced
48
Closed
27
Calls
$431K
Puts
$537K
Net Calls
-$106K
Net Calls Change
+$225K

Top Buyers

Rank Fund Capital Flow
1
HV
HST Ventures
Utah
+$2.57M
2
Morgan Stanley
Morgan Stanley
New York
+$1.77M
3
VOYA Investment Management
VOYA Investment Management
Georgia
+$1.46M
4
Goldman Sachs
Goldman Sachs
New York
+$1.16M
5
Charles Schwab
Charles Schwab
California
+$1.11M

Top Sellers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
-$10M
2
Invesco
Invesco
Georgia
-$6.75M
3
JIC
JRM Investment Counsel
Nebraska
-$3.89M
4
Balyasny Asset Management
Balyasny Asset Management
Illinois
-$2.18M
5
TD Asset Management
TD Asset Management
Ontario, Canada
-$2.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
Bessemer Group
151
Bessemer Group
New Jersey
$1K +$1.17K +104 New
FMII
152
Farmers & Merchants Investments Inc
Nebraska
$487 – – –
AWM
153
Abound Wealth Management
Tennessee
$487 +$450 +40 New
HNB
154
Huntington National Bank
Ohio
$12 – – –
TD Asset Management
155
TD Asset Management
Ontario, Canada
– -$2.1M -184,100 Closed
First Trust Advisors
156
First Trust Advisors
Illinois
– -$1.73M -151,780 Closed
Qube Research & Technologies (QRT)
157
Qube Research & Technologies (QRT)
United Kingdom
– -$1.53M -134,686 Closed
Voloridge Investment Management
158
Voloridge Investment Management
Florida
– -$1.35M -118,925 Closed
CF
159
Cantor Fitzgerald
New York
– -$786K -69,000 Closed
Neuberger Berman Group
160
Neuberger Berman Group
New York
– -$780K -68,447 Closed
Renaissance Technologies
161
Renaissance Technologies
New York
– -$617K -54,200 Closed
SG Americas Securities
162
SG Americas Securities
New York
– -$408K -35,815 Closed
CSS
163
Cubist Systematic Strategies
Connecticut
– -$386K -33,920 Closed
EMFAT
164
Emerald Mutual Fund Advisers Trust
Pennsylvania
– -$307K -26,920 Closed
JF
165
Jump Financial
Illinois
– -$281K -24,641 Closed
Two Sigma Advisers
166
Two Sigma Advisers
New York
– -$221K -19,400 Closed
YIH
167
Y-Intercept (HK)
Hong Kong
– -$210K -18,445 Closed
AAM
168
Advisors Asset Management
Colorado
– -$201K -17,641 Closed
GCP
169
GSA Capital Partners
United Kingdom
– -$192K -16,843 Closed
BFM
170
Boothbay Fund Management
New York
– -$176K -15,451 Closed
TC
171
Telemus Capital
Michigan
– -$122K -10,700 Closed
AGP
172
Autumn Glory Partners
Texas
– -$114K -10,000 Closed
SIM
173
Sandia Investment Management
Massachusetts
– -$114K -10,000 Closed
QT
174
Quantbot Technologies
New York
– -$37.8K -3,323 Closed
ASN
175
Advisory Services Network
Georgia
– -$22.9K -2,010 Closed
4 5 6
7
8

KREF Hedge Fund Activity: Q2 2023 in Review

155 of the 6,369 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q2 2023, worth a combined $615M — up 2.1% from $603M a quarter earlier.

Sellers outnumbered buyers: 27 funds closed out of KREF and 16 opened new positions — a net loss of 11 holders — while 48 trimmed existing stakes and 66 added.

The largest buyer was HST Ventures, adding an estimated $2.57M. The largest seller was Millennium Management, cutting an estimated $10M.

  • 155 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q2 2023, down from 166 in Q1 2023.
  • Funds reported $615M of KKR Real Estate Finance Trust stock for Q2 2023, up 2.1% quarter-over-quarter.
  • 16 funds opened new KKR Real Estate Finance Trust positions in Q2 2023 and 27 closed out, a net change of -11 holders.
  • The largest KKR Real Estate Finance Trust buyer in Q2 2023 was HST Ventures, an estimated $2.57M added.
  • The largest KKR Real Estate Finance Trust seller in Q2 2023 was Millennium Management, an estimated $10M sold.

Based on aggregated 13F filings for Q2 2023.