| 4 | STATE STREET CORP | 499K | $5.6M | -2.2% | 2.342% | 0.00% |
| 5 | SEGALL BRYANT & HAMILL, LLC | 189K | $2.0M | — | 0.885% | 0.02% |
| 6 | CDC Financial, Inc. | 164K | $1.8M | +15.7% | 0.768% | 0.73% |
| 7 | Clayton Partners LLC | 155K | $1.7M | +3.3% | 0.729% | 1.09% |
| 8 | Corient Private Wealth LP | 153K | $1.6M | -2.2% | 0.717% | 0.00% |
| 9 | NORTHERN TRUST CORP | 147K | $1.6M | +3.9% | 0.690% | 0.00% |
| 10 | VANGUARD PORTFOLIO MANAGEMENT LLC | 126K | $1.3M | +20.5% | 0.590% | 0.00% |
| 11 | VANGUARD FIDUCIARY TRUST CO | 116K | $1.2M | +1.4% | 0.544% | 0.00% |
| 12 | Connor, Clark & Lunn Investment Management Ltd. | 114K | $1.2M | -2.1% | 0.534% | 0.00% |
| 13 | DOLIVER ADVISORS, LP | 111K | $1.2M | -0.7% | 0.521% | 0.27% |
| 14 | OSAIC HOLDINGS, INC. | 91K | $978K | +8.6% | 0.428% | 0.00% |
| 15 | ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 89K | $954K | — | 0.417% | 0.00% |
| 16 | INTREPID CAPITAL MANAGEMENT INC | 74K | $792K | 0.0% | 0.347% | 0.28% |
| 17 | MORGAN STANLEY | 64K | $682K | +30.7% | 0.298% | 0.00% |
| 18 | Odyssean, LLC | 63K | $678K | +387.8% | 0.297% | 0.11% |
| 19 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 62K | $662K | +25.4% | 0.290% | 0.00% |
| 20 | COMMONWEALTH EQUITY SERVICES, LLC | 58K | $621K | +13.0% | 0.272% | 0.00% |
| 21 | Quantinno Capital Management LP | 56K | $598K | -26.1% | 0.262% | 0.00% |
| 22 | Bank of New York Mellon Corp | 53K | $571K | +11.2% | 0.250% | 0.00% |
| 23 | RAYMOND JAMES FINANCIAL INC | 49K | $521K | — | 0.228% | 0.00% |
| 24 | AQR CAPITAL MANAGEMENT LLC | 48K | $517K | +156.7% | 0.226% | 0.00% |
| 25 | Atom Investors LP | 42K | $454K | — | 0.198% | 0.04% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in REFI — a direct measure of their conviction.
| 31.49% |
| 3.08 pp |
| $93M |
| 13% |
| Q4 2024 | 101 | +4.1% | 34.57% | +2.87 pp | $108M | +15% |
| Q3 2024 | 97 | — | 31.70% | — | $94M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
13 institutions opened new positions in REFI during Q2 2026, while 13 fully exited. 37 added to existing positions and 47 trimmed.
REFI institutional ownership rose by 2.27 percentage points quarter-over-quarter, with a net change of -1 holders.
The top 10 institutions account for 73.2% of all reported 13F value in REFI, and the top 25 account for 89.4%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Chicago Atlantic Real Estate Finance, Inc. (REFI) Institutional Ownership