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REFI

Chicago Atlantic Real Estate Finance

95 hedge funds and large institutions have $88.3M invested in Chicago Atlantic Real Estate Finance in 2025 Q2 according to their latest regulatory filings, with 12 funds opening new positions, 35 increasing their positions, 32 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

9% more repeat investments, than reductions

Existing positions increased: 35 | Existing positions reduced: 32

0% more funds holding in top 10

Funds holding in top 10: 11 (0)

1.48% less ownership

Funds ownership: 31.55%30.07% (-1.5%)

9% less capital invested

Capital invested by funds: $97M → $88.3M (-$8.79M)

13% less funds holding

Funds holding: 10995 (-14)

48% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 23

95% less call options, than puts

Call options by funds: $11K | Put options by funds: $209K

Holders
95
Holders Change
-14
Holders Change %
-12.84%
% of All Funds
1.25%
Holding in Top 10
1
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.01%
New
12
Increased
35
Reduced
32
Closed
23
Calls
$11K
Puts
$209K
Net Calls
-$198K
Net Calls Change
-$390K
Name Holding Trade Value Shares
Change
Change in
Stake
PCM
26
Perritt Capital Management
Illinois
$449K -$276K -19,232 -37%
PWM
27
PBMares Wealth Management
Virginia
$430K
Barclays
28
Barclays
United Kingdom
$403K +$163K +11,380 +65%
Qube Research & Technologies (QRT)
29
Qube Research & Technologies (QRT)
United Kingdom
$378K +$3.25K +226 +0.8%
RhumbLine Advisers
30
RhumbLine Advisers
Massachusetts
$370K +$43K +2,993 +13%
AI
31
Atom Investors
Texas
$360K +$39.3K +2,734 +12%
Susquehanna International Group
32
Susquehanna International Group
Pennsylvania
$327K -$290K -20,211 -46%
Manulife (Manufacturers Life Insurance)
33
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$325K +$14.8K +1,031 +5%
UBS Group
34
UBS Group
Switzerland
$319K +$161K +11,178 +95%
N
35
Nuveen
North Carolina
$317K -$193K -13,424 -37%
T. Rowe Price Associates
36
T. Rowe Price Associates
Maryland
$311K -$235K -16,345 -42%
JP Morgan Chase
37
JP Morgan Chase
New York
$299K -$193K -13,431 -39%
Mariner
38
Mariner
Kansas
$288K -$9.49K -661 -3%
Invesco
39
Invesco
Georgia
$284K +$111K +7,758 +61%
MAM
40
Martingale Asset Management
Massachusetts
$282K +$14.1K +981 +5%
AllianceBernstein
41
AllianceBernstein
Tennessee
$278K +$96.2K +6,700 +51%
AQR Capital Management
42
AQR Capital Management
Connecticut
$273K +$281K +19,591 New
EHC
43
Everett Harris & Co
California
$258K -$86.2K -6,000 -24%
Geode Capital Management
44
Geode Capital Management
Massachusetts
$257K +$20.8K +1,446 +9%
AG
45
AlTi Global
New York
$225K +$7.32K +510 +3%
AWM
46
Ariadne Wealth Management
California
$197K
Royal Bank of Canada
47
Royal Bank of Canada
Ontario, Canada
$193K +$3.22K +224 +2%
State of Wisconsin Investment Board
48
State of Wisconsin Investment Board
Wisconsin
$183K +$188K +13,100 New
HWM
49
HB Wealth Management
Georgia
$174K +$273 +19 +0.2%
Citigroup
50
Citigroup
New York
$169K -$114K -7,943 -40%

REFI Hedge Fund Activity: Q2 2025 in Review

95 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Chicago Atlantic Real Estate Finance (REFI) for Q2 2025, worth a combined $88.3M — down 9.1% from $97M a quarter earlier.

Sellers outnumbered buyers: 23 funds closed out of REFI and 12 opened new positions — a net loss of 11 holders — while 32 trimmed existing stakes and 35 added.

The largest buyer was VanEck Associates, opening a new position worth an estimated $2.72M. The largest seller was Allspring Global Investments, exiting entirely with an estimated $1.65M sold.

  • 95 institutional investors held Chicago Atlantic Real Estate Finance (REFI) as of Q2 2025, down from 109 in Q1 2025.
  • Funds reported $88.3M of Chicago Atlantic Real Estate Finance stock for Q2 2025, down 9.1% quarter-over-quarter.
  • 12 funds opened new Chicago Atlantic Real Estate Finance positions in Q2 2025 and 23 closed out, a net change of -11 holders.
  • The largest Chicago Atlantic Real Estate Finance buyer in Q2 2025 was VanEck Associates, an estimated $2.72M added.
  • The largest Chicago Atlantic Real Estate Finance seller in Q2 2025 was Allspring Global Investments, an estimated $1.65M sold.

Based on aggregated 13F filings for Q2 2025.