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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
BlackRock
1
BlackRock
New York
$126M +$592K +52,577 +0.5%
KKRC
2
Kohlberg Kravis Roberts & Co
New York
$122M – – –
Vanguard Group
3
Vanguard Group
Pennsylvania
$70.1M -$524K -46,572 -0.8%
NSLI
4
Nan Shan Life Insurance
Taiwan
$42.6M – – –
State Street
5
State Street
Massachusetts
$28M -$507K -44,999 -2%
Mirae Asset Global Investments
6
Mirae Asset Global Investments
South Korea
$25.7M -$379K -33,642 -2%
Balyasny Asset Management
7
Balyasny Asset Management
Illinois
$16.1M -$2.18M -193,688 -13%
Allianz Asset Management
8
Allianz Asset Management
Germany
$15.6M – – –
Geode Capital Management
9
Geode Capital Management
Massachusetts
$14.6M +$942K +83,664 +8%
Morgan Stanley
10
Morgan Stanley
New York
$12.9M +$1.77M +157,220 +17%
SI
11
Stephens Inc
Arkansas
$11.4M -$1.26M -112,223 -11%
Goldman Sachs
12
Goldman Sachs
New York
$9.33M +$1.16M +102,820 +15%
JP Morgan Chase
13
JP Morgan Chase
New York
$8.02M +$646K +57,410 +10%
Northern Trust
14
Northern Trust
Illinois
$7.34M -$1.6M -142,398 -19%
Charles Schwab
15
Charles Schwab
California
$7.18M +$1.11M +98,300 +20%
Bank of New York Mellon
16
Bank of New York Mellon
New York
$5.64M -$889K -78,954 -15%
NWM
17
Nicola Wealth Management
British Columbia, Canada
$5.51M +$1.1M +98,000 +28%
VOYA Investment Management
18
VOYA Investment Management
Georgia
$4.76M +$1.46M +129,924 +50%
Principal Financial Group
19
Principal Financial Group
Iowa
$4.01M -$231K -20,511 -6%
VanEck Associates
20
VanEck Associates
New York
$3.74M +$467K +41,510 +16%
RBC
21
Roble Belko & Company
Pennsylvania
$3.38M -$197K -17,485 -6%
Invesco
22
Invesco
Georgia
$3.34M -$6.75M -599,669 -69%
GBI
23
GP Brinson Investments
Illinois
$3.27M – – –
HV
24
HST Ventures
Utah
$3.1M +$2.57M +228,704 +890%
Ameriprise
25
Ameriprise
Minnesota
$2.8M -$10.3K -915 -0.4%
1
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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.