KKR Real Estate Finance Trust Inc.: which funds bought and sold

Institutions that bought and sold KKR Real Estate Finance Trust shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 84 institutions that filed 13F reports for both quarters added to or opened positions in KKR Real Estate Finance Trust, and 89 cut or closed them. Together they added a net 853K shares, +1.7% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 1.6M shares (−25.8%); index fund managers were net buyers of 370K shares (+2.9%). 32 opened a new position and 43 sold out entirely.

Bought, Q2 2026 84 institutions, 32 of them new holders Sold, Q2 2026 89 institutions, 43 of them sold out

Net change, all compared +853K shares (+1.7%)

Net change, active managers −1.6M shares (−25.8%), 9 bought, 15 sold

Buyers versus sellers

institutions compared, 193

84 bought 20 89 sold

Active managers and hedge funds 9 bought · 15 sold · −1.6M

Index fund managers 6 bought · 3 sold · +370K

Other institutions 69 bought · 71 sold · +2.1M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
UBS Group AG	+3.4M +1392.8%	3.6M	$24.9M
Dimension Capital Management LLC	+1.6M New position	1.6M	$10.9M
AQR Capital Management LLC Hedge fund	+792K +1176.1%	860K	$5.9M
Morgan Stanley	+538K +71.6%	1.3M	$8.8M
Wells Fargo & Company	+432K +344.4%	558K	$3.8M
Blackrock, Inc. Index funds	+366K +6.6%	5.9M	$40.3M
Jain Global LLC Hedge fund	+329K New position	329K	$2.2M
Jane Street Group, LLC	+286K +95.7%	585K	$4M
Quantinno Capital Management LP	+206K +171.5%	326K	$2.2M
One William Street Capital Management, L.P.	+202K New position	202K	$1.4M
Bank Of America Corp	+191K +90.7%	401K	$2.7M
Xtx Topco Ltd	+178K +120.8%	326K	$2.2M
Qube Research & Technologies Ltd Hedge fund	+162K +36.7%	602K	$4.1M
Corient Private Wealth LP	+137K +210.3%	202K	$1.4M
Tidal Investments LLC	+89K New position	89K	$608,739
Goldman Sachs Group Inc	+88K +13.8%	729K	$5M
Geode Capital Management, LLC Index funds	+85K +6.4%	1.4M	$9.6M
Northern Trust Corp Index funds	+83K +16.2%	598K	$4.1M
Long Pond Capital, LP	+80K +1.4%	5.8M	$39.8M
State Of Wisconsin Investment Board	+79K New position	79K	$538,055

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
AQR Capital Management LLC Hedge fund	+792K +1176.1%	860K	$5.9M
Jain Global LLC Hedge fund	+329K New position	329K	$2.2M
Qube Research & Technologies Ltd Hedge fund	+162K +36.7%	602K	$4.1M
Price T Rowe Associates Inc Active manager	+49K +44.9%	158K	$1.1M
Tudor Investment Corp Et Al Hedge fund	+26K New position	26K	$178,073
Squarepoint Ops LLC Hedge fund	+24K +48.3%	75K	$514,060
Alliancebernstein L.P. Active manager	+16K +41.3%	55K	$334,764
Neuberger Berman Group LLC Active manager	+15K New position	15K	$103,838
Intech Investment Management LLC Active manager	+70 +0.5%	13K	$89,235

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Conversant Capital LLC	−1.5M Sold out	0	—
Point72 Asset Management, L.P. Hedge fund	−699K Sold out	0	—
Nokomis Capital, L.L.C.	−684K −61.1%	436K	$3M
Prudential Financial Inc	−648K Sold out	0	—
Citadel Advisors LLC Hedge fund	−594K −64.9%	321K	$2.2M
Millennium Management LLC Hedge fund	−508K −34.4%	970K	$6.6M
Waterfall Asset Management, LLC	−475K Sold out	0	—
Condor Capital Management	−411K Sold out	0	—
Two Sigma Investments, LP Hedge fund	−299K −31.7%	643K	$4.4M
Y-Intercept (Hong Kong) Ltd	−262K Sold out	0	—
Endure Capital Management, LLC	−253K Sold out	0	—
Balyasny Asset Management L.P. Hedge fund	−246K −88.9%	31K	$210,864
Bi Asset Management Fondsmaeglerselskab A/S	−215K −74.9%	72K	$493,000
Nomura Holdings Inc	−171K −5.9%	2.7M	$18.5M
Marshall Wace, LLP Hedge fund	−171K Sold out	0	—
HRT Financial LP	−161K Sold out	0	—
FMR LLC Active manager	−149K −49.2%	154K	$1.1M
Exoduspoint Capital Management, LP Hedge fund	−148K −49.8%	149K	$1M
Penserra Capital Management LLC	−141K Sold out	0	—
Swiss National Bank	−112K Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Point72 Asset Management, L.P. Hedge fund	−699K Sold out	0	—
Citadel Advisors LLC Hedge fund	−594K −64.9%	321K	$2.2M
Millennium Management LLC Hedge fund	−508K −34.4%	970K	$6.6M
Two Sigma Investments, LP Hedge fund	−299K −31.7%	643K	$4.4M
Balyasny Asset Management L.P. Hedge fund	−246K −88.9%	31K	$210,864
Marshall Wace, LLP Hedge fund	−171K Sold out	0	—
FMR LLC Active manager	−149K −49.2%	154K	$1.1M
Exoduspoint Capital Management, LP Hedge fund	−148K −49.8%	149K	$1M
Brevan Howard Capital Management LP Hedge fund	−68K Sold out	0	—
Algert Global LLC Hedge fund	−58K Sold out	0	—

New positions

largest by value

Institution	Shares	Value June 30, 2026
Dimension Capital Management LLC	1.6M	$10.9M
Jain Global LLCHedge fund	329K	$2.2M
One William Street Capital Management, L.P.	202K	$1.4M
Tidal Investments LLC	89K	$608,739
State Of Wisconsin Investment Board	79K	$538,055
Ieq Capital, LLC	58K	$399,463
Mercer Global Advisors Inc	42K	$289,524
SG Americas Securities, LLC	34K	$230,000
Mariner, LLC	30K	$206,259
Wealth Enhancement Advisory Services, LLC	27K	$200,376

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Conversant Capital LLC	1.5M	$9M
Point72 Asset Management, L.P.Hedge fund	699K	$4.3M
Prudential Financial Inc	648K	$4M
Waterfall Asset Management, LLC	475K	$3.1M
Condor Capital Management	411K	$2.5M
Y-Intercept (Hong Kong) Ltd	262K	$1.6M
Endure Capital Management, LLC	253K	$1.5M
Marshall Wace, LLPHedge fund	171K	$1M
HRT Financial LP	161K	$986,000
Penserra Capital Management LLC	141K	$863,000

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 152
Ten largest holders: 70.1%
Index fund managers: 25.8%
Active managers and hedge funds: 9.2%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	9	15	3	5	−1.6M	−25.8%
Index fund managers	6	3	0	0	+370K	+2.9%
Other institutions	69	71	29	38	+2.1M	+7.0%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on KKR Real Estate Finance Trust.

Only managers that filed a holdings report for both quarters are compared (193 here). 9 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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