KKR Real Estate Finance Trust Inc. (KREF) shareholders
KREFNYSEReal Estate Investment TrustsFiscal year ends December 31Also trades as KREF.PA
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 28, 2026Score 10/3072% below fair value
$5.42+0.06 (+1.12%)
Close on Nov 13, 2026Market cap $310.60MP/E –Yield 18.45%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
51M
Shares held, 13F filers
Institutional holders
154
34 new, 45 sold out
Net institutional buying
1M
In Q2 2026
Insider trades, 12 months
2 buys · 2 sales
Net sold $1.46M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Long Pond Capital, LP Joint filing with Long Pond Capital GP, LLC (8.92%), John Khoury (8.92%) | 5,733,513 | 8.92% | 13G (passive) | Mar 31, 2026 |
| BlackRock, Inc. | 5,026,321 | 7.80% | 13G (passive) amendment | Mar 31, 2026 |
| Mavik Capital Group, LP Joint filing with Terra Capital Partners, LLC (8.00%), Terra REIT Advisors, LLC (8.00%) and 3 more | 4,708,468 | 8.00% | 13G (passive) amendment | Sep 30, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of KREF | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Kohlberg Kravis Roberts & Co. L.P. | 10,000,001 | – | $68.40M | – | 1.20% |
| BlackRock, Inc. | 5,898,946 | – | $40.35M | +365,925 | 0.00% |
| Long Pond Capital, LP | 5,813,201 | – | $39.76M | +79,688 | 3.82% |
| UBS Group AG | 3,641,056 | – | $24.90M | +3,397,148 | 0.00% |
| Nomura Holdings Inc | 2,704,317 | – | $18.50M | −170,980 | 0.02% |
| Vanguard Capital Management LLC | 2,284,174 | – | $15.62M | −42,834 | 0.00% |
| Dimension Capital Management LLC | 1,588,196 | – | $10.86M | New | 1.27% |
| Geode Capital Management, LLC | 1,409,981 | – | $9.65M | +84,600 | 0.00% |
| Morgan Stanley | 1,290,211 | – | $8.83M | +538,158 | 0.00% |
| State Street Corp | 1,180,293 | – | $8.19M | −98,059 | 0.00% |
| Millennium Management LLC | 969,954 | – | $6.63M | −508,197 | 0.00% |
| Charles Schwab Investment Management Inc | 958,932 | – | $6.56M | −74,367 | 0.00% |
| Aqr Capital Management LLC | 859,781 | – | $5.88M | +792,407 | 0.00% |
| Goldman Sachs Group Inc | 729,036 | – | $4.99M | +88,273 | 0.00% |
| Two Sigma Investments, LP | 643,206 | – | $4.40M | −298,995 | 0.00% |
| Norges Bank | 635,000 | – | $4.34M | New | 0.00% |
| Qube Research & Technologies Ltd | 601,842 | – | $4.12M | +161,578 | 0.00% |
| Northern Trust Corp | 598,251 | – | $4.09M | +83,210 | 0.00% |
| Jane Street Group, LLC | 585,212 | – | $4.00M | +286,178 | 0.00% |
| Wells Fargo & Company/Mn | 557,842 | – | $3.82M | +432,319 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|
| Q2 2026 | 154 | 51M | 34 / 52 | 48 / 45 | 11M | 9M |
| Q1 2026 | 169 | 50M | 46 / 50 | 55 / 38 | 16M | 14M |
| Q4 2025 | 164 | 51M | 19 / 49 | 73 / 28 | 6M | 5M |
| Q3 2025 | 173 | 50M | 26 / 58 | 66 / 22 | 6M | 5M |
| Q2 2025 | 170 | 49M | 21 / 58 | 63 / 28 | 3M | 5M |
| Q1 2025 | 178 | 50M | 25 / 64 | 55 / 16 | 3M | 3M |
| Q4 2024 | 171 | 51M | 26 / 65 | 43 / 24 | 4M | 5M |
| Q3 2024 | 172 | 51M | 38 / 58 | 49 / 15 | 17M | 5M |
| Q2 2024 | 150 | 50M | 23 / 51 | 48 / 26 | 4M | 6M |
| Q1 2024 | 155 | 51M | 24 / 49 | 62 / 28 | 3M | 2M |
| Q4 2023 | 160 | 50M | 23 / 49 | 61 / 17 | 4M | 3M |
| Q3 2023 | 155 | 50M | 11 / 59 | 59 / 10 | 1M | 2M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
109 funds held KREF in Q2 2026, 76% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of KREF | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 1,621,138 | – | $11.09M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,375,169 | – | $9.41M | 0.01% | Jun 30, 2026 |
| iShares Mortgage Real Estate ETF | 615,322 | – | $4.21M | 0.77% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 607,334 | – | $4.15M | 0.00% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 602,427 | – | $4.19M | 0.01% | Jul 31, 2026 |
| VanEck Mortgage REIT Income ETF | 524,073 | – | $3.58M | 0.90% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 477,471 | – | $3.27M | 0.02% | Jun 30, 2026 |
| Schwab Fundamental U.S. Small Company ETF | 409,864 | – | $2.73M | 0.03% | May 31, 2026 |
| Fidelity Extended Market Index Fund | 308,708 | – | $2.06M | 0.00% | May 31, 2026 |
| Vanguard Russell 2000 Index Fund | 283,571 | – | $1.89M | 0.01% | May 31, 2026 |
| Schwab U.S. Small-Cap ETF | 256,305 | – | $1.71M | 0.01% | May 31, 2026 |
| iShares Micro-Cap ETF | 180,710 | – | $1.24M | 0.08% | Jun 30, 2026 |
| iShares ESG Aware MSCI USA Small-Cap ETF | 164,088 | – | $1.09M | 0.05% | May 31, 2026 |
| Fidelity Enhanced Small Cap Core ETF | 149,181 | – | $1.02M | 0.02% | Jun 30, 2026 |
| Hoya Capital High Dividend Yield ETF | 141,966 | – | $946.91K | 0.91% | May 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| Matthew A. Salem | Chief Executive Officer, Director | 703,075 | Apr 27, 2026 |
| Kendra Decious | CFO and Treasurer | 70,569 | Oct 5, 2026 |
| W. Patrick Mattson | President, COO and Secretary | 500,287 | Apr 27, 2026 |
| Kelly Galligan | General Counsel and Secretary | 9,580 | Dec 22, 2025 |
| Christen E.J. Lee | Director | 219,505 | Oct 5, 2026 |
| Deborah H. McAneny | Director | 80,099 | Apr 16, 2026 |
| Jonathan A. Langer | Director | 73,513 | Apr 16, 2026 |
| Irene M. Esteves | Director | 69,968 | Apr 16, 2026 |
| Paula Madoff | Director | 70,182 | Apr 16, 2026 |
| Terrance R. Ahern | Director | 79,247 | Apr 16, 2026 |
| Ralph F. Rosenberg | Director | 0 | Dec 3, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Kendra Decious CFO and Treasurer | Oct 1, 2026 | Tax withholding | −9,672 | $6.21 | $60.06K | 70,569 |
| Christen E.J. Lee Director | Oct 1, 2026 | Tax withholding | −3,358 | $6.21 | $20.85K | 215,775 |
| W. Patrick Mattson President, COO and Secretary | Apr 24, 2026 | Buy | +40,000 | $6.03 | $241.20K | 500,287 |
| Matthew A. Salem Chief Executive Officer, Director | Apr 24, 2026 | Buy | +60,000 | $6.04 | $362.40K | 703,075 |
| Deborah H. McAneny Director | Apr 14, 2026 | Award | +16,691 | – | – | 80,099 |
| Paula Madoff Director | Apr 14, 2026 | Award | +16,691 | – | – | 70,182 |
| Irene M. Esteves Director | Apr 14, 2026 | Award | +16,691 | – | – | 69,968 |
| Jonathan A. Langer Director | Apr 14, 2026 | Award | +16,691 | – | – | 73,513 |
| Terrance R. Ahern Director | Apr 14, 2026 | Award | +16,691 | – | – | 79,247 |
| W. Patrick Mattson President and COO | Dec 18, 2025 | Award | +73,500 | – | – | 460,287 |
| Matthew A. Salem Chief Executive Officer, Director | Dec 18, 2025 | Award | +81,250 | – | – | 643,075 |
| Kendra Decious CFO and Treasurer | Dec 18, 2025 | Award | +24,000 | – | – | 80,241 |
| Kelly Galligan General Counsel and Secretary | Dec 18, 2025 | Award | −6,500 | – | – | 9,580 |
| Ralph F. Rosenberg Director | Dec 3, 2025 | Sale | −125,289 | $8.25 | $1.03M | 0 |
| Ralph F. Rosenberg Director | Dec 3, 2025 | Sale | −125,289 | $8.25 | $1.03M | 0 |
| Christen E.J. Lee Director | Nov 7, 2025 | Buy | +10,000 | $7.80 | $78.00K | 229,133 |
| Matthew A. Salem Chief Executive Officer, Director | Nov 6, 2025 | Buy | +32,000 | $7.84 | $250.88K | 561,825 |
| Terrance R. Ahern Director | Nov 6, 2025 | Buy | +23,700 | $7.81 | $185.10K | 62,556 |
| W. Patrick Mattson President and COO | Nov 6, 2025 | Buy | +13,000 | $7.91 | $102.83K | 386,787 |
| Jonathan A. Langer Director | Nov 3, 2025 | Other | −14,086 | – | – | 56,822 |
| Kelly Galligan General Counsel and Secretary | Oct 1, 2025 | Tax withholding | −420 | $9.00 | $3.78K | 3,080 |
| Christen E.J. Lee Director | Oct 1, 2025 | Tax withholding | −10,074 | $9.00 | $90.67K | 219,133 |
| Kendra Decious CFO and Treasurer | Oct 1, 2025 | Tax withholding | −8,799 | $9.00 | $79.19K | 56,241 |
| Jonathan A. Langer Director | Apr 25, 2025 | Award | +12,387 | – | – | 70,908 |
| Irene M. Esteves Director | Apr 25, 2025 | Award | +12,387 | – | – | 53,277 |
| Deborah H. McAneny Director | Apr 25, 2025 | Award | +12,387 | – | – | 63,408 |
| Paula Madoff Director | Apr 25, 2025 | Award | +12,387 | – | – | 53,491 |
| Terrance R. Ahern Director | Apr 25, 2025 | Award | +12,387 | – | – | 38,856 |
| Matthew A. Salem Chief Executive Officer, Director | Dec 16, 2024 | Award | +81,250 | – | – | 529,825 |
| W. Patrick Mattson President and COO | Dec 16, 2024 | Award | +73,500 | – | – | 373,787 |
| Kendra Decious CFO and Treasurer | Dec 16, 2024 | Award | +24,000 | – | – | 65,040 |
| Kelly Galligan General Counsel and Secretary | Dec 16, 2024 | Award | +3,500 | – | – | 3,500 |
| Kendra Decious CFO and Treasurer | Oct 1, 2024 | Tax withholding | −7,253 | $12.35 | $89.57K | 41,040 |
| Matthew A. Salem Chief Executive Officer, Director | Oct 1, 2024 | Tax withholding | −11,734 | $12.35 | $144.91K | 448,575 |
| Vincent J. Napolitano General Counsel and Secretary | Oct 1, 2024 | Tax withholding | −3,659 | $12.35 | $45.19K | 24,359 |
| W. Patrick Mattson President and COO | Oct 1, 2024 | Tax withholding | −8,159 | $12.35 | $100.76K | 300,287 |
| Christen E.J. Lee Director | Oct 1, 2024 | Tax withholding | −22,110 | $12.35 | $273.06K | 229,207 |
| Paula Madoff Director | Apr 19, 2024 | Award | +11,270 | – | – | 41,104 |
| Deborah H. McAneny Director | Apr 19, 2024 | Award | +11,270 | – | – | 51,021 |
| Irene M. Esteves Director | Apr 19, 2024 | Award | +11,270 | – | – | 40,890 |
| Jonathan A. Langer Director | Apr 19, 2024 | Award | +11,270 | – | – | 58,521 |
| Terrance R. Ahern Director | Apr 19, 2024 | Award | +11,270 | – | – | 26,469 |
| W. Patrick Mattson President and COO | Feb 8, 2024 | Buy | +10,000 | $9.72 | $97.20K | 308,446 |
| Matthew A. Salem Chief Executive Officer, Director | Feb 8, 2024 | Buy | +26,000 | $9.72 | $252.72K | 460,309 |
| Christen E.J. Lee Director | Feb 8, 2024 | Gift | −2,646 | – | – | 254,981 |
| Christen E.J. Lee Director | Feb 8, 2024 | Gift | −3,664 | – | – | 251,317 |
| Christen E.J. Lee Director | Dec 18, 2023 | Award | +25,000 | – | – | 257,627 |
| Vincent J. Napolitano General Counsel and Secretary | Dec 18, 2023 | Award | +12,500 | – | – | 28,018 |
| Kendra Decious CFO and Treasurer | Dec 18, 2023 | Award | +24,000 | – | – | 48,293 |
| W. Patrick Mattson President and COO | Dec 18, 2023 | Award | +68,500 | – | – | 298,446 |
| Matthew A. Salem Chief Executive Officer, Director | Dec 18, 2023 | Award | +76,250 | – | – | 434,309 |
| Kendra Decious CFO and Treasurer | Oct 2, 2023 | Tax withholding | −4,029 | $11.87 | $47.82K | 24,293 |
| Vincent J. Napolitano General Counsel and Secretary | Oct 2, 2023 | Tax withholding | −2,787 | $11.87 | $33.08K | 15,518 |
| W. Patrick Mattson President and COO | Oct 2, 2023 | Tax withholding | −15,705 | $11.87 | $186.42K | 229,946 |
| Matthew A. Salem Chief Executive Officer | Oct 2, 2023 | Tax withholding | −28,758 | $11.87 | $341.36K | 358,059 |
| Christen E.J. Lee Director | Oct 2, 2023 | Tax withholding | −30,654 | $11.87 | $363.86K | 232,627 |
| Christen E.J. Lee Director | May 12, 2023 | Buy | +10,000 | $10.17 | $101.70K | 15,000 |
| W. Patrick Mattson President and COO | May 1, 2023 | Buy | +8,000 | $10.60 | $84.80K | 245,651 |
| Matthew A. Salem Chief Executive Officer, Director | Apr 27, 2023 | Buy | +25,000 | $10.70 | $267.50K | 386,817 |
| Irene M. Esteves Director | Apr 21, 2023 | Award | +9,674 | – | – | 29,620 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
10.21%
6M shares short
Days to cover
5.6
At 1M shares a day
Change since last report
-4.4%
From 6M shares
Short volume, 20 days
54.8%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of KKR Real Estate Finance Trust's stock actually held short. Settlement fails (shares not delivered on time) peaked at 175,818 shares on Sep 21, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Ralph F. Rosenberg Director | Dec 3, 2025 | 250,578 | $2.09M | Dec 3, 2025 | Acquired in a distribution by a feeder vehicle in connection with the IPO |
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