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KREF

KKR Real Estate Finance Trust
KREF

60 hedge funds and large institutions have $757M invested in KKR Real Estate Finance Trust in 2018 Q2 according to their latest regulatory filings, with 14 funds opening new positions, 25 increasing their positions, 8 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

213% more repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 8

75% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 8

11% more funds holding

Funds holding: 54 → 60 (+6)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

0.53% less ownership

Funds ownership: 72.68% → 72.15% (-0.53%)

2% less capital invested

Capital invested by funds: $776M → $757M (-$18.2M)

Holders
60
Holders Change
+6
Holders Change %
+11.11%
% of All Funds
1.37%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
14
Increased
25
Reduced
8
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$2.99M
2
Renaissance Technologies
Renaissance Technologies
New York
+$2.33M
3
BlackRock
BlackRock
New York
+$1.99M
4
Bank of America
Bank of America
North Carolina
+$1.72M
5
Deutsche Bank
Deutsche Bank
Germany
+$1.42M

Top Sellers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
-$13.6M
2
N
Nuveen
North Carolina
-$6.49M
3
KCM
Kennedy Capital Management
Missouri
-$3.15M
4
SSA
Schonfeld Strategic Advisors
New York
-$2.63M
5
Norges Bank
Norges Bank
Norway
-$2.01M
Name Holding Trade Value Shares
Change 		Change in
Stake
KKRC
1
Kohlberg Kravis Roberts & Co
New York
$470M – – –
NSLI
2
Nan Shan Life Insurance
Taiwan
$69.2M – – –
Capital Research Global Investors
3
Capital Research Global Investors
California
$50.3M – – –
Temasek Holdings
4
Temasek Holdings
Singapore
$48.2M – – –
Vanguard Group
5
Vanguard Group
Pennsylvania
$34.3M -$1.02M -50,669 -3%
BlackRock
6
BlackRock
New York
$21.5M +$1.99M +98,955 +10%
N
7
Nuveen
North Carolina
$14.9M -$6.49M -322,410 -30%
AI
8
ArchPoint Investors
Florida
$5.43M – – –
State Street
9
State Street
Massachusetts
$5.12M +$1.03M +50,972 +25%
OH
10
Oikos Holdings
New York
$4.56M – – –
Northern Trust
11
Northern Trust
Illinois
$3.61M +$533K +26,492 +17%
Acadian Asset Management
12
Acadian Asset Management
Massachusetts
$2.94M +$2.99M +148,563 New
Geode Capital Management
13
Geode Capital Management
Massachusetts
$2.86M +$189K +9,376 +7%
TCIM
14
TIAA CREF Investment Management
New York
$2.38M +$1.29M +64,198 +115%
Renaissance Technologies
15
Renaissance Technologies
New York
$2.29M +$2.33M +115,938 New
Deutsche Bank
16
Deutsche Bank
Germany
$1.85M +$1.42M +70,390 +301%
Bank of America
17
Bank of America
North Carolina
$1.76M +$1.72M +85,406 +2,310%
Charles Schwab
18
Charles Schwab
California
$1.33M +$158K +7,837 +13%
Bank of New York Mellon
19
Bank of New York Mellon
New York
$1.3M +$214K +10,621 +19%
EMG
20
Ellington Management Group
Connecticut
$1.24M +$1.26M +62,467 New
Citadel Advisors
21
Citadel Advisors
Florida
$1.23M +$967K +48,057 +336%
Morgan Stanley
22
Morgan Stanley
New York
$1.16M +$506K +25,177 +75%
Two Sigma Investments
23
Two Sigma Investments
New York
$1.08M +$1.1M +54,588 New
Millennium Management
24
Millennium Management
New York
$901K +$917K +45,572 New
Two Sigma Advisers
25
Two Sigma Advisers
New York
$738K +$750K +37,300 New
1
2 3

KREF Hedge Fund Activity: Q2 2018 in Review

60 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q2 2018, worth a combined $757M — down 2.4% from $776M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new KREF positions and 8 closed out — a net gain of 6 holders — while 25 added to existing stakes and 8 trimmed.

The largest buyer was Acadian Asset Management, opening a new position worth an estimated $2.99M. The largest seller was Fidelity Investments, exiting entirely with an estimated $13.6M sold.

  • 60 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q2 2018, up from 54 in Q1 2018.
  • Funds reported $757M of KKR Real Estate Finance Trust stock for Q2 2018, down 2.4% quarter-over-quarter.
  • 14 funds opened new KKR Real Estate Finance Trust positions in Q2 2018 and 8 closed out, a net change of +6 holders.
  • The largest KKR Real Estate Finance Trust buyer in Q2 2018 was Acadian Asset Management, an estimated $2.99M added.
  • The largest KKR Real Estate Finance Trust seller in Q2 2018 was Fidelity Investments, an estimated $13.6M sold.

Based on aggregated 13F filings for Q2 2018.