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KREF

KKR Real Estate Finance Trust
KREF

126 hedge funds and large institutions have $800M invested in KKR Real Estate Finance Trust in 2020 Q3 according to their latest regulatory filings, with 14 funds opening new positions, 48 increasing their positions, 35 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

37% more repeat investments, than reductions

Existing positions increased: 48 | Existing positions reduced: 35

0% less capital invested

Capital invested by funds: $801M → $800M (-$1.31M)

2% less funds holding

Funds holding: 129 → 126 (-3)

5.63% less ownership

Funds ownership: 87.01% → 81.39% (-5.6%)

13% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 16

Holders
126
Holders Change
-3
Holders Change %
-2.33%
% of All Funds
2.54%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.04%
New
14
Increased
48
Reduced
35
Closed
16
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
JIC
JRM Investment Counsel
Nebraska
+$5.04M
2
TD Asset Management
TD Asset Management
Ontario, Canada
+$4.16M
3
BlackRock
BlackRock
New York
+$3.78M
4
Vanguard Group
Vanguard Group
Pennsylvania
+$1.82M
5
AG
AlphaSimPlex Group
Massachusetts
+$1.19M

Top Sellers

Rank Fund Capital Flow
1
WG
Winton Group
United Kingdom
-$5.47M
2
Millennium Management
Millennium Management
New York
-$2.91M
3
KKRC
Kohlberg Kravis Roberts & Co
New York
-$2.58M
4
N
Nuveen
North Carolina
-$2.11M
5
Citadel Advisors
Citadel Advisors
Florida
-$1.42M
Name Holding Trade Value Shares
Change 		Change in
Stake
KKRC
1
Kohlberg Kravis Roberts & Co
New York
$361M -$2.58M -150,260 -0.7%
BlackRock
2
BlackRock
New York
$80.8M +$3.78M +220,209 +5%
NSLI
3
Nan Shan Life Insurance
Taiwan
$57.9M – – –
Vanguard Group
4
Vanguard Group
Pennsylvania
$49.9M +$1.82M +105,875 +4%
Goldman Sachs
5
Goldman Sachs
New York
$41M +$1.12M +65,086 +3%
Temasek Holdings
6
Temasek Holdings
Singapore
$40.3M – – –
Mirae Asset Global Investments
7
Mirae Asset Global Investments
South Korea
$30.7M +$221K +12,883 +0.7%
State Street
8
State Street
Massachusetts
$18.9M +$546K +31,766 +3%
JIC
9
JRM Investment Counsel
Nebraska
$8.74M +$5.04M +293,577 +125%
JP Morgan Chase
10
JP Morgan Chase
New York
$7.51M -$448K -26,103 -5%
Barclays
11
Barclays
United Kingdom
$7.29M +$165K +9,579 +2%
TD Asset Management
12
TD Asset Management
Ontario, Canada
$6.64M +$4.16M +242,100 +152%
Geode Capital Management
13
Geode Capital Management
Massachusetts
$6.47M +$84.3K +4,910 +1%
WG
14
Winton Group
United Kingdom
$5.71M -$5.47M -318,225 -48%
Bank of New York Mellon
15
Bank of New York Mellon
New York
$5.67M -$199K -11,569 -3%
Northern Trust
16
Northern Trust
Illinois
$5.58M -$110K -6,410 -2%
Wells Fargo
17
Wells Fargo
California
$4.91M +$801K +46,615 +19%
Principal Financial Group
18
Principal Financial Group
Iowa
$4.52M +$992K +57,728 +27%
Charles Schwab
19
Charles Schwab
California
$3M +$295K +17,196 +10%
CS
20
Credit Suisse
Switzerland
$2.58M +$185K +10,792 +7%
VanEck Associates
21
VanEck Associates
New York
$2.53M +$185K +10,794 +8%
N
22
Nuveen
North Carolina
$2.15M -$2.11M -122,819 -49%
Ameriprise
23
Ameriprise
Minnesota
$2.1M +$154K +8,967 +8%
Schroder Investment Management Group
24
Schroder Investment Management Group
United Kingdom
$1.87M +$39K +2,269 +2%
Morgan Stanley
25
Morgan Stanley
New York
$1.85M +$389K +22,672 +25%
1
2 3 4 5

KREF Hedge Fund Activity: Q3 2020 in Review

126 of the 4,956 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q3 2020, worth a combined $800M — down 0.16% from $801M a quarter earlier.

Sellers outnumbered buyers: 16 funds closed out of KREF and 14 opened new positions — a net loss of 2 holders — while 35 trimmed existing stakes and 48 added.

The largest buyer was JRM Investment Counsel, adding an estimated $5.04M. The largest seller was Winton Group, cutting an estimated $5.47M.

  • 126 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q3 2020, down from 129 in Q2 2020.
  • Funds reported $800M of KKR Real Estate Finance Trust stock for Q3 2020, down 0.16% quarter-over-quarter.
  • 14 funds opened new KKR Real Estate Finance Trust positions in Q3 2020 and 16 closed out, a net change of -2 holders.
  • The largest KKR Real Estate Finance Trust buyer in Q3 2020 was JRM Investment Counsel, an estimated $5.04M added.
  • The largest KKR Real Estate Finance Trust seller in Q3 2020 was Winton Group, an estimated $5.47M sold.

Based on aggregated 13F filings for Q3 2020.