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REFI

Chicago Atlantic Real Estate Finance

97 hedge funds and large institutions have $84.9M invested in Chicago Atlantic Real Estate Finance in 2025 Q3 according to their latest regulatory filings, with 16 funds opening new positions, 36 increasing their positions, 25 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

44% more repeat investments, than reductions

Existing positions increased: 36 | Existing positions reduced: 25

14% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 14

2% more funds holding

Funds holding: 9597 (+2)

1.35% more ownership

Funds ownership: 30.07%31.41% (+1.3%)

4% less capital invested

Capital invested by funds: $88.3M → $84.9M (-$3.33M)

100% less call options, than puts

Call options by funds: $1K | Put options by funds: $663K

100% less funds holding in top 10

Funds holding in top 10: 10 (-1)

Holders
97
Holders Change
+2
Holders Change %
+2.11%
% of All Funds
1.27%
Holding in Top 10
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
New
16
Increased
36
Reduced
25
Closed
14
Calls
$1K
Puts
$663K
Net Calls
-$662K
Net Calls Change
-$464K
Name Holding Trade Value Shares
Change
Change in
Stake
AAP
76
Arax Advisory Partners
Colorado
$16.8K +$18K +1,313 New
SCM
77
Sterling Capital Management
North Carolina
$16K +$10.8K +786 +169%
California State Teachers Retirement System (CalSTRS)
78
California State Teachers Retirement System (CalSTRS)
California
$13.8K +$14.8K +1,081 New
SS
79
Sunbelt Securities
Texas
$11.2K +$12.1K +879 New
AB
80
Amalgamated Bank
New York
$7K
FDCDDQ
81
Federation des caisses Desjardins du Quebec
Quebec, Canada
$6.39K
WIM
82
Westside Investment Management
California
$6.39K
EP
83
Essential Partners
California
$6.33K +$6.06K +442 +834%
PNC Financial Services Group
84
PNC Financial Services Group
Pennsylvania
$5.19K +$5.57K +406 New
AUB
85
Atlantic Union Bankshares
Virginia
$4.5K +$4.83K +352 New
A
86
AlphaQuest
New York
$3.85K
HCA
87
Harbor Capital Advisors
Illinois
$3K
LFG
88
Larson Financial Group
Missouri
$2.9K -$46.3K -3,374 -94%
IA
89
IFP Advisors
Florida
$2.9K -$41 -3 -1%
GI
90
GAMMA Investing
California
$1.75K -$165 -12 -8%
VCM
91
Versant Capital Management
Arizona
$1.65K +$1.77K +129 New
C
92
Covestor
United Kingdom
$1K +$494 +36 +54%
SAM
93
Smartleaf Asset Management
Massachusetts
$929 +$974 +71 New
AF
94
Allworth Financial
California
$231 -$82 -6 -25%
TWD
95
True Wealth Design
Ohio
$205 +$41 +3 +23%
RIL
96
Rothschild Investment LLC
Illinois
$26 +$27 +2 New
CA
97
Clearstead Advisors
Ohio
$13 +$14 +1 New
Two Sigma Advisers
98
Two Sigma Advisers
New York
-$945K -67,700 Closed
AI
99
Atom Investors
Texas
-$360K -25,764 Closed
Susquehanna International Group
100
Susquehanna International Group
Pennsylvania
-$321K -23,414 Closed

REFI Hedge Fund Activity: Q3 2025 in Review

97 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Chicago Atlantic Real Estate Finance (REFI) for Q3 2025, worth a combined $84.9M — down 3.8% from $88.3M a quarter earlier.

Buyers outnumbered sellers: 16 funds opened new REFI positions and 14 closed out — a net gain of 2 holders — while 36 added to existing stakes and 25 trimmed.

The largest buyer was Clayton Partners, opening a new position worth an estimated $1.89M. The largest seller was Two Sigma Advisers, exiting entirely with an estimated $945K sold.

  • 97 institutional investors held Chicago Atlantic Real Estate Finance (REFI) as of Q3 2025, up from 95 in Q2 2025.
  • Funds reported $84.9M of Chicago Atlantic Real Estate Finance stock for Q3 2025, down 3.8% quarter-over-quarter.
  • 16 funds opened new Chicago Atlantic Real Estate Finance positions in Q3 2025 and 14 closed out, a net change of +2 holders.
  • The largest Chicago Atlantic Real Estate Finance buyer in Q3 2025 was Clayton Partners, an estimated $1.89M added.
  • The largest Chicago Atlantic Real Estate Finance seller in Q3 2025 was Two Sigma Advisers, an estimated $945K sold.

Based on aggregated 13F filings for Q3 2025.