KKR Real Estate Finance Trust
KREF
154 hedge funds and large institutions have $350M invested in KKR Real Estate Finance Trust in 2026 Q2 according to their latest regulatory filings, with 34 funds opening new positions, 52 increasing their positions, 48 reducing their positions, and 45 closing their positions.
33% more funds holding in top 10
Funds holding in top 10: 3 → 4 (+1)
14% more capital invested
Capital invested by funds: $308M → $350M (+$41.7M)
1.59% more ownership
Funds ownership: 78.13% → 79.72% (+1.6%)
8% more repeat investments, than reductions
Existing positions increased: 52 | Existing positions reduced: 48
9% less funds holding
Funds holding: 169 → 154 (-15)
24% less first-time investments, than exits
New positions opened: 34 | Existing positions closed: 45
90% less call options, than puts
Call options by funds: $73K | Put options by funds: $707K
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$22.5M |
| 2 |
DCM
Dimension Capital Management
Coral Gables,
Florida
|
+$10.5M |
| 3 |
AQR Capital Management
Greenwich,
Connecticut
|
+$5.24M |
| 4 |
Morgan Stanley
New York
|
+$3.56M |
| 5 |
Wells Fargo
San Francisco,
California
|
+$2.86M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CC
Conversant Capital
Summit,
New Jersey
|
-$9M |
| 2 |
NC
Nokomis Capital
Dallas,
Texas
|
-$4.53M |
| 3 |
Point72 Asset Management
Stamford,
Connecticut
|
-$4.28M |
| 4 |
Prudential Financial
Newark,
New Jersey
|
-$3.96M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$3.93M |
KREF Hedge Fund Activity: Q2 2026 in Review
154 of the 8,303 institutional investors tracked by Wall St. Rank reported a position in KKR Real Estate Finance Trust (KREF) for Q2 2026, worth a combined $350M — up 14% from $308M a quarter earlier.
Sellers outnumbered buyers: 45 funds closed out of KREF and 34 opened new positions — a net loss of 11 holders — while 48 trimmed existing stakes and 52 added.
The largest buyer was UBS Group, adding an estimated $22.5M. The largest seller was Conversant Capital, exiting entirely with an estimated $9M sold.
- 154 institutional investors held KKR Real Estate Finance Trust (KREF) as of Q2 2026, down from 169 in Q1 2026.
- Funds reported $350M of KKR Real Estate Finance Trust stock for Q2 2026, up 14% quarter-over-quarter.
- 34 funds opened new KKR Real Estate Finance Trust positions in Q2 2026 and 45 closed out, a net change of -11 holders.
- The largest KKR Real Estate Finance Trust buyer in Q2 2026 was UBS Group, an estimated $22.5M added.
- The largest KKR Real Estate Finance Trust seller in Q2 2026 was Conversant Capital, an estimated $9M sold.
Based on aggregated 13F filings for Q2 2026.