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KREF

KKR Real Estate Finance Trust
KREF

51 hedge funds and large institutions have $818M invested in KKR Real Estate Finance Trust in 2017 Q3 according to their latest regulatory filings, with 7 funds opening new positions, 17 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

40% more first-time investments, than exits

New positions opened: 7 | Existing positions closed: 5

31% more repeat investments, than reductions

Existing positions increased: 17 | Existing positions reduced: 13

4% more funds holding

Funds holding: 49 → 51 (+2)

0.06% more ownership

Funds ownership: 72.27% → 72.34% (+0.06%)

2% less capital invested

Capital invested by funds: $835M → $818M (-$17.1M)

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
51
Holders Change
+2
Holders Change %
+4.08%
% of All Funds
1.27%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.02%
New
7
Increased
17
Reduced
13
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
+$5.92M
2
LCM
Laurion Capital Management
New York
+$2.59M
3
N
Nuveen
North Carolina
+$2M
4
KCM
Kennedy Capital Management
Missouri
+$1.59M
5
Northern Trust
Northern Trust
Illinois
+$1.55M

Top Sellers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
-$7.07M
2
Westfield Capital Management
Westfield Capital Management
Massachusetts
-$4.31M
3
Alyeska Investment Group
Alyeska Investment Group
Illinois
-$1.84M
4
Goldman Sachs
Goldman Sachs
New York
-$1.41M
5
Citadel Advisors
Citadel Advisors
Florida
-$1.35M
Name Holding Trade Value Shares
Change 		Change in
Stake
KKRC
1
Kohlberg Kravis Roberts & Co
New York
$500M – – –
NSLI
2
Nan Shan Life Insurance
Taiwan
$73.6M – – –
Temasek Holdings
3
Temasek Holdings
Singapore
$51.3M – – –
Fidelity Investments
4
Fidelity Investments
Massachusetts
$34.2M -$7.07M -339,456 -17%
Capital Research Global Investors
5
Capital Research Global Investors
California
$31.6M – – –
N
6
Nuveen
North Carolina
$29M +$2M +96,195 +7%
Vanguard Group
7
Vanguard Group
Pennsylvania
$18.2M +$937K +45,008 +5%
BlackRock
8
BlackRock
New York
$15.1M +$5.92M +284,262 +65%
Teacher Retirement System of Texas
9
Teacher Retirement System of Texas
Texas
$10.3M -$195K -9,348 -2%
Citadel Advisors
10
Citadel Advisors
Florida
$10.3M -$1.35M -64,619 -12%
SSA
11
Schonfeld Strategic Advisors
New York
$6.28M – – –
AI
12
ArchPoint Investors
Florida
$6.01M – – –
AM
13
Ares Management
California
$4.21M – – –
KCM
14
Kennedy Capital Management
Missouri
$3.65M +$1.59M +76,616 +79%
State Street
15
State Street
Massachusetts
$2.74M +$583K +28,009 +27%
LCM
16
Laurion Capital Management
New York
$2.61M +$2.59M +124,200 New
Geode Capital Management
17
Geode Capital Management
Massachusetts
$2.58M +$47.5K +2,280 +2%
Northern Trust
18
Northern Trust
Illinois
$2.36M +$1.55M +74,513 +198%
Alyeska Investment Group
19
Alyeska Investment Group
Illinois
$2.35M -$1.84M -88,197 -44%
ZDA
20
Zweig-DiMenna Associates
New York
$2.24M +$1.04M +50,000 +89%
Norges Bank
21
Norges Bank
Norway
$2.1M – – –
Charles Schwab
22
Charles Schwab
California
$841K +$43.9K +2,107 +6%
Bank of New York Mellon
23
Bank of New York Mellon
New York
$738K -$32.4K -1,557 -4%
OAM
24
Oxford Asset Management
United Kingdom
$603K -$82.2K -3,947 -12%
TCIM
25
TIAA CREF Investment Management
New York
$561K -$25K -1,199 -4%
1
2 3

KREF Hedge Fund Activity: Q3 2017 in Review

51 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q3 2017, worth a combined $818M — down 2% from $835M a quarter earlier.

Buyers outnumbered sellers: 7 funds opened new KREF positions and 5 closed out — a net gain of 2 holders — while 17 added to existing stakes and 13 trimmed.

The largest buyer was BlackRock, adding an estimated $5.92M. The largest seller was Fidelity Investments, cutting an estimated $7.07M.

  • 51 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q3 2017, up from 49 in Q2 2017.
  • Funds reported $818M of KKR Real Estate Finance Trust stock for Q3 2017, down 2% quarter-over-quarter.
  • 7 funds opened new KKR Real Estate Finance Trust positions in Q3 2017 and 5 closed out, a net change of +2 holders.
  • The largest KKR Real Estate Finance Trust buyer in Q3 2017 was BlackRock, an estimated $5.92M added.
  • The largest KKR Real Estate Finance Trust seller in Q3 2017 was Fidelity Investments, an estimated $7.07M sold.

Based on aggregated 13F filings for Q3 2017.