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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
BlackRock
1
BlackRock
New York
$20M -$1.18M -82,415 -5%
Vanguard Group
2
Vanguard Group
Pennsylvania
$12.9M +$249K +17,345 +2%
FCG
3
Fielder Capital Group
Tennessee
$10.8M +$286K +19,883 +3%
State Street
4
State Street
Massachusetts
$7.32M +$332K +23,119 +5%
Corient Private Wealth
5
Corient Private Wealth
Florida
$3.29M -$66.7K -4,648 -2%
ICM
6
Intrepid Capital Management
Florida
$3M -$12.7K -885 -0.4%
VanEck Associates
7
VanEck Associates
New York
$2.64M +$2.72M +189,386 New
SMA
8
Sage Mountain Advisors
Georgia
$2.29M +$121K +8,400 +5%
Millennium Management
9
Millennium Management
New York
$2.2M +$2.27M +157,946 New
Northern Trust
10
Northern Trust
Illinois
$1.93M -$64.9K -4,517 -3%
Renaissance Technologies
11
Renaissance Technologies
New York
$1.37M +$215K +15,000 +18%
Connor, Clark & Lunn Investment Management (CC&L)
12
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$1.35M -$246K -17,148 -15%
HighTower Advisors
13
HighTower Advisors
Illinois
$1.19M +$43.8K +3,052 +4%
DA
14
Doliver Advisors
Texas
$1.13M +$494K +34,400 +74%
PCM
15
Penserra Capital Management
California
$987K +$15.5K +1,079 +2%
Two Sigma Advisers
16
Two Sigma Advisers
New York
$945K -$1.21M -84,600 -56%
Charles Schwab
17
Charles Schwab
California
$787K +$71.9K +5,010 +10%
AI
18
AdvisorShares Investments
Maryland
$726K -$356K -24,800 -32%
Commonwealth Equity Services
19
Commonwealth Equity Services
Massachusetts
$671K +$21K +1,464 +3%
Morgan Stanley
20
Morgan Stanley
New York
$671K -$195K -13,611 -22%
Bank of New York Mellon
21
Bank of New York Mellon
New York
$666K +$28.9K +2,015 +4%
Two Sigma Investments
22
Two Sigma Investments
New York
$553K -$1.47M -102,581 -72%
MFG
23
Magnus Financial Group
New York
$485K -$9.79K -682 -2%
TI
24
Tidal Investments
Wisconsin
$457K +$29.8K +2,078 +7%
GIA
25
Gladstone Institutional Advisory
Florida
$453K

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.