KKR Real Estate Finance Trust
KREF • NYSE
KKR Real Estate Finance Trust is a reit - mortgage company in the real estate sector on NYSE, led by Matthew A. Salem, with a market cap of $583.5M. As of Q3 2025, 75% of shares are held by 173 institutional investors, with Kohlberg Kravis Roberts & Co. L.P. as the largest holder at 15.23%.
Chief Executive OfficerMatthew A. Salem
Overview
Overview of institutional ownership in KREF as of Q3 2025 with a market cap of $591.1M
All Institutions
- Institutions
- 173
- Value Held
- $443.1M
- Shares Held
- 49.2M
- Avg Position
- $2.6M
- Median Position
- $231.8K
Hedge Funds
- Hedge Funds
- 17
- Value Held
- $39.4M
- Shares Held
- 4.4M
- Avg Position
- $2.3M
- Median Position
- $484.1K
Ownership Breakdown
Based on market cap of $591.1M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.
Biggest Investors
Institutions with the largest positions in KREF as of Q3 2025
| Institution | Position Value |
|---|---|
 Kohlberg Kravis Roberts & Co. L.P. Private Equity | $90.0M 1.62% of portfolio |
B BlackRock, Inc. Institution | $84.5M 0.00% of portfolio |
 VANGUARD GROUP INC Institution | $33.0M 0.00% of portfolio |
N Nan Shan Life Insurance Co., Ltd. Institution | $27.5M 0.59% of portfolio |
 Long Pond Capital, LP Hedge Fund•Long/Short | $20.9M 1.37% of portfolio |
 STATE STREET CORP Institution | $20.4M 0.00% of portfolio |
 GEODE CAPITAL MANAGEMENT LLC ETF Provider | $12.1M 0.00% of portfolio |
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution | $10.8M 0.02% of portfolio |
 Invesco Ltd. ETF Provider | $10.3M 0.00% of portfolio |
 SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager | $8.2M 0.00% of portfolio |
Net Capital Flow
Institutional buying and selling activity for KREF in Q3 2025
- Traded
- +$6.8M
- Buyers
- 87
- Sellers
- 85
- Total Bought
- +$49.7M
- Total Sold
- −$42.9M
- Avg Position
- $2.3M
Biggest Buyers
| Institution | Net Bought |
|---|---|
Long Pond Capital, LP Hedge Fund•Long/Short | +$20.9M +2.3M shares |
N NOMURA HOLDINGS INC Institution | +$5.2M +579.1K shares |
Invesco Ltd. ETF Provider | +$2.7M +304.4K shares |
 GOLDMAN SACHS GROUP INC Institution | +$2.0M +218.2K shares |
 AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy | +$1.6M +180.0K shares |
 MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | +$1.5M +169.0K shares |
 PREVAIL INNOVATIVE WEALTH ADVISORS, LLC RIA/Wealth | +$1.4M +157.6K shares |
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager | +$1.3M +149.8K shares |
N Nokomis Capital, L.L.C. Hedge Fund•Long/Short | +$1.1M +121.4K shares |
 PRUDENTIAL FINANCIAL INC Institution | +$801.5K +89.1K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
VANGUARD GROUP INC Institution | −$14.0M −1.6M shares |
 BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | −$4.7M −536.1K shares |
D D. E. Shaw & Co., Inc. Institution | −$2.8M −312.1K shares |
 MORGAN STANLEY RIA/Wealth | −$2.5M −277.0K shares |
B BlackRock, Inc. Institution | −$2.4M −267.4K shares |
 STEPHENS INC /AR/ RIA/Wealth | −$1.6M −176.2K shares |
 TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy | −$1.6M −172.9K shares |
 AXS Investments LLC Institution | −$1.3M −149.0K shares |
 RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant | −$1.3M −141.3K shares |
 JPMORGAN CHASE & CO Institution | −$1.2M −131.1K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited KREF in Q3 2025
- New Positions
- 10
- New Value
- $22.1M
- Exited Positions
- 22
- Exited Value
- $10.0M
New Positions
| Institution | Position Value |
|---|---|
Long Pond Capital, LP Hedge Fund•Long/Short | $20.9M 2.3M shares |
 Soltis Investment Advisors LLC RIA/Wealth | $436.1K 48.5K shares |
 FourThought Financial Partners, LLC RIA/Wealth | $281.9K 31.3K shares |
 MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth | $151.5K 16.8K shares |
 FRANKLIN RESOURCES INC Institution | $134.1K 14.9K shares |
$126.0K 14.6K shares | |
 Cloud Capital Management, LLC RIA/Wealth | $47.4K 5.3K shares |
 GHP Investment Advisors, Inc. RIA/Wealth | $10.8K 1.2K shares |
V Vermillion Wealth Management, Inc. RIA/Wealth | $2.9K 326.0 shares |
S Salomon & Ludwin, LLC Institution | $751.0 83.0 shares |
Exited Positions
| Institution | Previous Position |
|---|---|
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | $4.7M 536.1K shares |
AXS Investments LLC Institution | $1.3M 149.0K shares |
 TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy | $1.1M 119.8K shares |
S Sophron Capital Management L.P. Hedge Fund•Long/Short | $501.1K 57.1K shares |
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy | $402.3K 45.9K shares |
T TEACHER RETIREMENT SYSTEM OF TEXAS Institution | $307.5K 35.1K shares |
T TEXAS PERMANENT SCHOOL FUND Institution | $244.2K 27.8K shares |
B Brevan Howard Capital Management LP Institution | $240.2K 27.4K shares |
 Quantbot Technologies LLC Hedge Fund•Quant | $233.6K 26.6K shares |
Q Qube Research & Technologies Ltd Institution | $219.4K 25.0K shares |
Options Activity
Institutions with the largest Call and Put options positions in KREF as of Q3 2025
- Call Positions
- 1
- Call Value
- $351.9K
- Put Positions
- 2
- Put Value
- $90.9K
Call Positions
| Institution | Position Value |
|---|---|
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $351.9K 391.0 contracts |
Put Positions
| Institution | Position Value |
|---|---|
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $90.9K 101.0 contracts |
W WOLVERINE TRADING, LLC Institution | - - contracts |
Most Committed Institutions
Institutions with KREF as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
Kohlberg Kravis Roberts & Co. L.P. Private Equity | 1.62% $90.0M |
N Nokomis Capital, L.L.C. Hedge Fund•Long/Short | 1.50% $4.2M |
Long Pond Capital, LP Hedge Fund•Long/Short | 1.37% $20.9M |
N Nan Shan Life Insurance Co., Ltd. Institution | 0.59% $27.5M |
G GP Brinson Investments LLC Institution | 0.38% $942.4K |
 CURA WEALTH ADVISORS, LLC RIA/Wealth | 0.34% $888.3K |
 CONDOR CAPITAL MANAGEMENT RIA/Wealth | 0.28% $3.4M |
PREVAIL INNOVATIVE WEALTH ADVISORS, LLC RIA/Wealth | 0.28% $1.4M |
 GFS Advisors, LLC RIA/Wealth | 0.25% $1.9M |
 Transce3nd, LLC RIA/Wealth | 0.16% $10.6K |
Hedge Fund Spotlight
Discover hedge funds investing in KREF
AIGEN INVESTMENT MANAGEMENT, LP
Hedge Fund • Long/Short
Portfolio ManagerJuhua Zhu
- Portfolio Value
- $646.1M
- Positions
- 764
- Last Reported
- Q3 2025
Sector Allocation
Position in KKR Real Estate Finance Trust
- Market Value
- $94.6K
- Shares Held
- 10.5K
- Portfolio Weight
- 0.01%
- Owned Since
- 2025-Q1
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Internet Content & Information Communication Services | $7.1M | 1.10% | |
Conglomerates Industrials | $7.1M | 1.10% | |
Medical - Devices Healthcare | $6.7M | 1.04% |
