Chicago Atlantic Real Estate Finance
REFI
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.
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: 1 → 1 (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: 109 → 95 (-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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VanEck Associates
New York
|
+$2.72M |
| 2 |
Millennium Management
New York
|
+$2.27M |
| 3 |
DA
Doliver Advisors
Houston,
Texas
|
+$494K |
| 4 |
State Street
Boston,
Massachusetts
|
+$332K |
| 5 |
FCG
Fielder Capital Group
Nashville,
Tennessee
|
+$286K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Allspring Global Investments
Charlotte,
North Carolina
|
-$1.65M |
| 2 |
Two Sigma Investments
New York
|
-$1.47M |
| 3 |
Two Sigma Advisers
New York
|
-$1.21M |
| 4 |
BlackRock
New York
|
-$1.18M |
| 5 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
-$946K |
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.