AarAIR
13F holders, Q1 2025 (March 31)249holders +4
29new positions
24sold out
8famous investors
$56.00avg. 13F price*
At the end of Q1 2025, 249 institutions reported holding Aar Corp. (AIR) in their 13F filings, up 4 from Q4 2024. 29 opened new positions and 24 sold out. The largest holders were BlackRock, Inc. ($326.3M), Vanguard Group Inc. ($212.8M) and Dimensional Fund Advisors LP ($129.7M). 8 famous investors held it, including Mario Gabelli (0.2% of GAMCO Investors's portfolio), Israel Englander (0.0% of Millennium Management's portfolio) and Ken Fisher (0.0% of Fisher Asset Management's portfolio).
- Company
- Aar Corp.
- CUSIP
- 000361105
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q4 2024 → Q1 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 29 | $28.8M |
| Exits | 24 | $22.9M |
All 13F filers, Q4 2024 → Q1 2025: 1,945,071 shares bought and 2,099,669 shares sold, net −154,598 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 249 holders
| BlackRock, Inc. | 0.01% | Reduce -2.8% | 5,827,559 | $326.3M |
| Vanguard Group Inc. | 0.00% | Reduce -1.1% | 3,800,510 | $212.8M |
| Dimensional Fund Advisors LP | 0.03% | Reduce -8.6% | 2,315,657 | $129.7M |
| State Street Corp. | 0.00% | Reduce -9.4% | 1,729,415 | $96.8M |
| Westwood Holdings Group Inc. | 0.68% | Add +10.3% | 1,589,320 | $89.0M |
| Earnest Partners LLC | 0.40% | Reduce -1.8% | 1,500,303 | $84.0M |
| Invesco Ltd. | 0.01% | Add +8.4% | 1,160,420 | $65.0M |
| Ophir Asset Management Pty Ltd | 8.53% | Add +50.4% | 872,265 | $48.8M |
| American Century Companies Inc. | 0.03% | Reduce -5.4% | 845,546 | $47.3M |
| Loomis Sayles & Co. L P | 0.07% | Add +6.6% | 843,278 | $47.2M |
| Franklin Resources Inc. | 0.01% | Reduce -7.0% | 838,301 | $46.9M |
| Geode Capital Management, LLC | 0.00% | Add +3.5% | 827,322 | $46.3M |
| Fred Alger Management, LLC | 0.17% | Add +32.6% | 533,770 | $29.9M |
| Charles Schwab Investment Management Inc. | 0.01% | Reduce -1.1% | 532,057 | $29.8M |
| Royal Bank of Canada | 0.01% | Add +7.8% | 518,061 | $29.0M |
| Emerald Advisers, LLC | 1.29% | Add +4.2% | 510,814 | $28.6M |
| Principal Financial Group Inc. | 0.02% | Reduce -1.1% | 483,951 | $27.1M |
| Macquarie Group Ltd. | 0.03% | Reduce -0.7% | 390,686 | $21.9M |
| Northern Trust Corp. | 0.00% | Reduce -2.7% | 387,434 | $21.7M |
| Janus Henderson Group PLC | 0.01% | Reduce -2.7% | 378,855 | $21.6M |
| Morgan Stanley | 0.00% | Add +3.0% | 385,264 | $21.6M |
| Emerald Mutual Fund Advisers Trust | 1.15% | Reduce -3.3% | 281,061 | $15.7M |
| Segall Bryant & Hamill, LLC | 0.24% | Add +1.8% | 279,051 | $15.6M |
| GAMCO Investors | 0.17% | Add +1.3% | 278,407 | $15.6M |
| Bank of New York Mellon Corp | 0.00% | Reduce -4.2% | 272,573 | $15.3M |
| Bank of America Corp. | 0.00% | Add +47.5% | 252,567 | $14.1M |
| Sei Investments Co. | 0.02% | Reduce -8.3% | 233,631 | $13.1M |
| Royce & Associates LP | 0.14% | Reduce -11.9% | 231,760 | $13.0M |
| Oberweis Asset Management Inc./ | 0.61% | New | 220,000 | $12.3M |
| Fisher Asset Management | 0.01% | Reduce -0.9% | 208,342 | $11.7M |
| Goldman Sachs Group Inc. | 0.00% | Reduce -29.3% | 203,808 | $11.4M |
| Allspring Global Investments Holdings, LLC | 0.02% | Reduce -4.6% | 191,523 | $10.6M |
| FMR LLC | 0.00% | Add +45.0% | 183,772 | $10.3M |
| UBS Group AG | 0.00% | Reduce -44.1% | 183,099 | $10.3M |
| Mairs & Power Inc. | 0.10% | Reduce -4.2% | 180,032 | $10.1M |
| Stansberry Asset Management, LLC | 1.21% | Add +30.3% | 171,963 | $9.6M |
| Raymond James Financial Inc. | 0.00% | Add +41.8% | 158,461 | $8.9M |
| Marshall Wace, LLP | 0.01% | Add +34.0% | 152,127 | $8.5M |
| Ameriprise Financial Inc. | 0.00% | Reduce -4.3% | 149,402 | $8.4M |
| Peregrine Capital Management LLC | 0.27% | Add +3.4% | 146,298 | $8.2M |
| First Eagle Investment Management, LLC | 0.02% | Reduce -34.7% | 139,715 | $7.8M |
| Millennium Management | 0.01% | Add +35.8% | 134,966 | $7.6M |
| Chicago Capital, LLC | 0.20% | No change | 127,951 | $7.2M |
| Phocas Financial Corp. | 1.09% | Reduce -5.5% | 127,347 | $7.1M |
| Envestnet Asset Management Inc. | 0.00% | Add +0.1% | 124,584 | $7.0M |
| Algert Global LLC | 0.17% | Add +100.7% | 123,170 | $6.9M |
| Prudential Financial Inc. | 0.01% | Add +38.2% | 115,387 | $6.5M |
| Rhumbline Advisers | 0.01% | Reduce -3.3% | 112,058 | $6.3M |
| Public Sector Pension Investment Board | 0.03% | Add +27.3% | 111,906 | $6.3M |
| Nuveen, LLC | 0.00% | — | 111,190 | $6.2M |
| Legal & General Group Plc | 0.00% | Reduce -3.1% | 107,601 | $6.0M |
| Thrivent Financial for Lutherans | 0.01% | Reduce -57.8% | 104,443 | $5.8M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Add +4.6% | 97,384 | $5.5M |
| Wells Fargo & Company | 0.00% | Add +0.1% | 93,424 | $5.2M |
| JPMorgan Chase & Co. | 0.00% | Reduce -29.6% | 90,553 | $5.1M |
| Stanley-Laman Group, Ltd. | 0.65% | Reduce -3.0% | 75,073 | $4.2M |
| Citigroup Inc. | 0.00% | Reduce -2.2% | 73,979 | $4.1M |
| Canal Insurance CO | 0.95% | No change | 72,000 | $4.0M |
| Swiss National Bank | 0.00% | Reduce -1.4% | 69,600 | $3.9M |
| Two Sigma Investments, LP | 0.01% | Reduce -43.1% | 66,475 | $3.7M |
| Barclays PLC | 0.00% | Reduce -34.2% | 64,777 | $3.6M |
| Norges Bank | 0.00% | Reduce -46.2% | 55,482 | $3.1M |
| Jane Street Group, LLC | 0.01% | New | 55,312 | $3.1M |
| Qube Research & Technologies Ltd | 0.00% | Reduce -32.3% | 53,775 | $3.0M |
| State of Wisconsin Investment Board | 0.01% | Add +1.2% | 53,748 | $3.0M |
| Intech Investment Management LLC | 0.03% | Add +122.7% | 52,651 | $2.9M |
| Gabelli Funds LLC | 0.02% | Add +10.5% | 49,576 | $2.8M |
| Two Sigma Advisers, LP | 0.01% | Reduce -25.0% | 49,500 | $2.8M |
| Stifel Financial Corp. | 0.00% | Reduce -1.6% | 49,310 | $2.8M |
| New York State Teachers Retirement System | 0.01% | Reduce -12.0% | 48,959 | $2.7M |
| Blair William & Co. | 0.01% | Add +0.3% | 46,097 | $2.6M |
| Susquehanna International Group, LLP | 0.00% | Add +107.4% | 45,521 | $2.5M |
| Alliancebernstein L.P. | 0.00% | Add +5.0% | 42,518 | $2.4M |
| Deutsche Bank AG | 0.00% | Reduce -32.3% | 42,499 | $2.4M |
| D. E. Shaw & Co. | 0.00% | Add +41.6% | 42,220 | $2.4M |
| Brant Point Investment Management LLC | 0.56% | New | 40,804 | $2.3M |
| Great Lakes Advisors, LLC | 0.02% | Reduce -23.2% | 38,907 | $2.2M |
| Renaissance Technologies | 0.00% | New | 38,260 | $2.1M |
| First Trust Advisors LP | 0.00% | Add +45.6% | 38,112 | $2.1M |
| Public Employees Retirement System of Ohio | 0.01% | Reduce -36.4% | 36,780 | $2.1M |
| Oppenheimer Asset Management Inc. | 0.03% | Add +10.8% | 36,171 | $2.0M |
| M3F, Inc. | 0.53% | New | 34,462 | $1.9M |
| California State Teachers Retirement System | 0.00% | Reduce -2.0% | 32,837 | $1.8M |
| Citadel Advisors | 0.00% | New | 31,666 | $1.8M |
| CANADA LIFE ASSURANCE Co | 0.00% | Reduce -8.5% | 31,545 | $1.8M |
| Keeley-Teton Advisors, LLC | 0.21% | Add +36.4% | 30,971 | $1.7M |
| ExodusPoint Capital Management, LP | 0.02% | Reduce -14.5% | 30,528 | $1.7M |
| New York State Common Retirement Fund | 0.00% | No change | 28,957 | $1.6M |
| Alberta Investment Management Corp | 0.01% | Reduce -18.2% | 28,278 | $1.6M |
| AQR Capital Management | 0.00% | Reduce -23.8% | 25,988 | $1.5M |
| T. Rowe Price Associates Inc. | 0.00% | Add +4.9% | 25,287 | $1.4M |
| Susquehanna Fundamental Investments, LLC | 0.02% | Reduce -31.6% | 24,371 | $1.4M |
| Natixis Advisors, LLC | 0.00% | Add +57.4% | 23,591 | $1.3M |
| Twinbeech Capital LP | 0.02% | New | 23,139 | $1.3M |
| Russell Investments Group, Ltd. | 0.00% | Add +69568.8% | 22,294 | $1.2M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | Add +4.5% | 20,779 | $1.2M |
| MetLife Investment Management, LLC | 0.01% | Reduce -1.2% | 20,741 | $1.2M |
| Ensign Peak Advisors, Inc | 0.00% | No change | 20,261 | $1.1M |
| Allianz Asset Management GmbH | 0.00% | Add +0.3% | 19,934 | $1.1M |
| State of Alaska, Department of Revenue | 0.01% | Reduce -2.1% | 19,548 | $1.1M |
| Manufacturers Life Insurance Company, The | 0.00% | Add +3.6% | 19,473 | $1.1M |
| Martingale Asset Management L P | 0.03% | Reduce -10.6% | 18,619 | $1.0M |
| Corebridge Financial, Inc. | 0.01% | Reduce -1.9% | 18,253 | $1.0M |
| Illinois Municipal Retirement Fund | 0.01% | Reduce -11.0% | 17,344 | $971K |
| State of Tennessee, Department of Treasury | 0.00% | Add +39.6% | 17,257 | $966K |
| SG Americas Securities, LLC | 0.00% | Reduce -31.3% | 17,262 | $966K |
| Fortress Private Ledger, LLC | 0.53% | Add +0.3% | 16,830 | $942K |
| Louisiana State Employees Retirement System | 0.02% | Reduce -2.9% | 16,600 | $929K |
| Shelton Wealth Management, LLC | 0.52% | Reduce -7.4% | 16,139 | $904K |
| Hennion & Walsh Asset Management, Inc. | 0.04% | Add +13.4% | 15,453 | $865K |
| Comerica Bank | 0.00% | Reduce -1.9% | 15,259 | $854K |
| Victory Capital Management Inc. | 0.00% | Add +0.8% | 14,965 | $838K |
| LPL Financial LLC | 0.00% | Add +28.0% | 14,849 | $831K |
| Versor Investments LP | 0.13% | Add +24.4% | 14,743 | $825K |
| Canada Pension Plan Investment Board | 0.00% | Add +1007.7% | 14,400 | $806K |
| Schonfeld Strategic Advisors LLC | 0.01% | New | 13,870 | $777K |
| New England Research & Management, Inc. | 0.37% | Reduce -9.6% | 13,150 | $736K |
| Engineers Gate Manager LP | 0.01% | Add +44.1% | 12,825 | $718K |
| Yousif Capital Management, LLC | 0.01% | Reduce -5.0% | 12,703 | $711K |
| Voya Investment Management LLC | 0.00% | Add +2.6% | 12,528 | $701K |
| Teachers Retirement System of the State of Kentucky | 0.01% | No change | 11,393 | $638K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | No change | 10,709 | $600K |
| Mengis Capital Management, Inc. | 0.12% | Reduce -1.0% | 10,365 | $580K |
| Maryland State Retirement & Pension System | 0.01% | Reduce -13.3% | 10,306 | $577K |
| Arizona State Retirement System | 0.00% | Reduce -1.1% | 10,302 | $577K |
| Amalgamated Bank | 0.00% | Reduce -2.6% | 10,048 | $563K |
| State Board of Administration of Florida Retirement System | 0.00% | No change | 9,811 | $549K |
| Moody National Bank Trust Division | 0.06% | Add +0.2% | 9,439 | $528K |
| Synovus Financial Corp. | 0.01% | Add +37.0% | 9,427 | $528K |
| Harbor Capital Advisors, Inc. | 0.02% | New | 9,387 | $526K |
| Virtus Advisers, LLC | 0.35% | New | 9,369 | $525K |
| Greenwood Capital Associates LLC | 0.07% | Reduce -30.0% | 9,236 | $517K |
| Bank of Montreal | 0.00% | Add +17.9% | 8,711 | $488K |
| Commonwealth of Pennsylvania Public School Empls Retrmt SYS | 0.00% | Add +12.1% | 8,443 | $473K |
| Pathstone Holdings, LLC | 0.00% | Add +6.5% | 8,234 | $462K |
| ProShare Advisors LLC | 0.00% | Reduce -21.9% | 8,232 | $461K |
| Rafferty Asset Management, LLC | 0.00% | Reduce -9.7% | 8,151 | $456K |
| Oregon Public Employees Retirement Fund | 0.01% | Reduce -3.3% | 8,055 | $451K |
| NJ State Employees Deferred Compensation Plan | 0.06% | No change | 8,000 | $448K |
| Fourpath Capital Management, LLC | 0.08% | No change | 7,850 | $440K |
| Cibc World Markets Corp. | 0.00% | Add +137.1% | 7,752 | $434K |
| Police & Firemen's Retirement System of New Jersey | 0.00% | Add +5.2% | 7,748 | $434K |
| PDT Partners, LLC | 0.03% | No change | 7,700 | $431K |
| US Bancorp \de | 0.00% | Add +23.8% | 7,573 | $424K |
| Truist Financial Corp. | 0.00% | Reduce -2.1% | 7,551 | $423K |
| Connable Office Inc. | 0.04% | No change | 7,430 | $416K |
| KLP Kapitalforvaltning As | 0.00% | No change | 7,400 | $414K |
| PNC Financial Services Group, Inc. | 0.00% | Add +66.8% | 7,294 | $408K |
| Sheets Smith Wealth Management | 0.05% | Add +3.8% | 7,281 | $408K |
| Polymer Capital Management (US) LLC | 0.12% | Add +91.0% | 7,183 | $402K |
| Integrated Investment Consultants, LLC | 0.08% | Reduce -1.3% | 7,086 | $397K |
| Shay Capital LLC | 0.11% | Reduce -22.6% | 7,000 | $392K |
| BNP Paribas Financial Markets | 0.00% | Reduce -70.7% | 6,478 | $363K |
| Inspire Investing, LLC | 0.04% | Reduce -6.4% | 6,086 | $341K |
| Massar Capital Management, LP | 0.40% | New | 6,000 | $336K |
| DAVENPORT & Co LLC | 0.00% | No change | 6,000 | $336K |
| Verition Fund Management LLC | 0.00% | Reduce -21.9% | 5,902 | $330K |
| Pictet Asset Management Holding SA | 0.00% | No change | 5,404 | $303K |
| Teacher Retirement System of Texas | 0.00% | New | 5,251 | $294K |
| HRT Financial LP | 0.00% | New | 5,205 | $291K |
| HSBC Holdings PLC | 0.00% | Add +3.2% | 5,190 | $291K |
| Mutual of America Capital Management LLC | 0.00% | Reduce -3.8% | 5,138 | $288K |
| Gotham Asset Management | 0.00% | Add +31.3% | 5,105 | $286K |
| Creative Planning | 0.00% | New | 4,996 | $280K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 4,648 | $260K |
| Jain Global LLC | 0.01% | New | 4,400 | $246K |
| Petrus Trust Company, LTA | 0.02% | New | 4,015 | $225K |
| HighTower Advisors, LLC | 0.00% | Reduce -3.7% | 3,784 | $212K |
| WoodTrust Financial Corp | 0.03% | No change | 3,750 | $210K |
| Caprock Group, LLC | 0.01% | Add +10.2% | 3,742 | $210K |
| Connor, Clark & Lunn Investment Management Ltd. | 0.00% | New | 3,740 | $209K |
| Harel Insurance Investments & Financial Services Ltd. | 0.00% | Add +37.7% | 3,733 | $209K |
| EntryPoint Capital, LLC | 0.09% | New | 3,661 | $205K |
| Ameritas Investment Partners, Inc. | 0.01% | No change | 3,655 | $205K |
| Clearstead Advisors, LLC | 0.00% | No change | 3,594 | $201K |
| Central Pacific Bank - Trust Division | 0.03% | Add +40.0% | 3,500 | $196K |
| PEAK6 LLC | 0.01% | Reduce -36.8% | 2,730 | $153K |
| KBC Group NV | 0.00% | No change | 1,887 | $106K |
| State of Wyoming | 0.01% | Add +128.5% | 1,821 | $102K |
| MAI Capital Management | 0.00% | No change | 1,786 | $100K |
| Nisa Investment Advisors, LLC | 0.00% | Reduce -1.2% | 1,568 | $88K |
| Toth Financial Advisory Corp. | 0.01% | No change | 1,400 | $78K |
| DekaBank Deutsche Girozentrale | 0.00% | No change | 1,251 | $71K |
| GAMMA Investing LLC | 0.00% | Add +88.5% | 1,131 | $63K |
| Smartleaf Asset Management LLC | 0.01% | Add +1.5% | 1,027 | $59K |
| Geneos Wealth Management Inc. | 0.00% | No change | 1,035 | $58K |
| Cwm, LLC | 0.00% | Add +12.1% | 900 | $50K |
| Tower Research Capital LLC (TRC) | 0.00% | Reduce -64.0% | 841 | $47K |
| Osaic Holdings, Inc. | 0.00% | Reduce -68.5% | 653 | $37K |
| Steward Partners Investment Advisory, LLC | 0.00% | Add +97.6% | 648 | $36K |
| Versant Capital Management, Inc | 0.01% | Add +36.4% | 592 | $33K |
| Hughes Financial Services, LLC | 0.01% | New | 500 | $28K |
| Sterling Capital Management LLC | 0.00% | Reduce -45.0% | 488 | $27K |
| Putney Financial Group LLC | 0.03% | No change | 484 | $27K |
| Abound Wealth Management | 0.01% | Add +14433.3% | 436 | $24K |
| Banque Cantonale Vaudoise | 0.00% | — | 390 | $22K |
| Coldstream Capital Management Inc. | 0.00% | New | 322 | $18K |
| FNY Investment Advisers, LLC | 0.01% | New | 301 | $16K |
| Quadrant Capital Group LLC | 0.00% | Add +7.2% | 283 | $16K |
| IFP Advisors, Inc | 0.00% | Reduce -40.6% | 256 | $14K |
| Fifth Third Bancorp | 0.00% | Reduce -1.2% | 238 | $13K |
| Washington Trust Advisors, Inc. | 0.00% | No change | 213 | $12K |
| Signaturefd, LLC | 0.00% | Add +4.0% | 210 | $12K |
| Advisors Asset Management, Inc. | 0.00% | No change | 206 | $12K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +16.6% | 169 | $9K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | Add +64.0% | 164 | $9K |
| UMB Bank, n.a. | 0.00% | Add +32.8% | 154 | $9K |
| Hantz Financial Services, Inc. | 0.00% | No change | 117 | $7K |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | No change | 117 | $7K |
| HHM Wealth Advisors, LLC | 0.00% | No change | 116 | $6K |
| Spire Wealth Management | 0.00% | No change | 116 | $6K |
| Principal Securities, Inc. | 0.00% | No change | 96 | $6K |
| Jones Financial Companies LLLP | 0.00% | Add +137.5% | 95 | $5K |
| Group One Trading LLC | 0.00% | New | 95 | $5K |
| Bellevue Asset Management, LLC | 0.00% | No change | 81 | $5K |
| Kestra Investment Management, LLC | 0.00% | New | 75 | $4K |
| Covestor Ltd | 0.00% | Add +3900.0% | 80 | $4K |
| Bessemer Group Inc. | 0.00% | Reduce -44.8% | 74 | $4K |
| Rothschild Investment LLC | 0.00% | Add +100.0% | 70 | $4K |
| Parallel Advisors, LLC | 0.00% | No change | 65 | $4K |
| Colonial Trust Co / SC | 0.00% | Reduce -27.3% | 56 | $3K |
| Moisand Fitzgerald Tamayo, LLC | 0.00% | No change | 52 | $3K |
| Larson Financial Group LLC | 0.00% | Add +1175.0% | 51 | $3K |
| Carolinas Wealth Consulting LLC | 0.00% | No change | 41 | $2K |
| SBI Securities Co., Ltd. | 0.00% | No change | 34 | $2K |
| Parkside Financial Bank & Trust | 0.00% | Add +153.8% | 33 | $2K |
| Private Wealth Management Group, LLC | 0.00% | No change | 29 | $2K |
| Brooklyn Investment Group | 0.00% | New | 29 | $2K |
| Raffa Wealth Management, LLC | 0.00% | No change | 26 | $1K |
| SVB Wealth LLC | 0.00% | New | 26 | $1K |
| Farmers & Merchants Investments Inc. | 0.00% | No change | 25 | $1K |
| Farther Finance Advisors, LLC | 0.00% | No change | 25 | $1K |
| Bell Investment Advisors, Inc | 0.00% | No change | 24 | $1K |
| Hemington Wealth Management | 0.00% | Add +122.2% | 20 | $1K |
| JFS Wealth Advisors, LLC | 0.00% | No change | 11 | $616 |
| True Wealth Design, LLC | 0.00% | New | 10 | $560 |
| Stephens Consulting, LLC | 0.00% | New | 10 | $560 |
| Garde Capital, Inc. | 0.00% | New | 10 | $560 |
| Federation des caisses Desjardins du Quebec | 0.00% | No change | 10 | $560 |
| Global Financial Private Client, LLC | 0.00% | Reduce -97.6% | 6 | $336 |
| DiNuzzo Private Wealth, Inc. | 0.00% | Add +50.0% | 6 | $336 |
| WealthTrak Capital Management LLC | 0.00% | No change | 5 | $280 |
| Huntington National Bank | 0.00% | No change | 5 | $280 |
| SJS Investment Consulting Inc. | 0.00% | No change | 5 | $280 |
| Lindbrook Capital, LLC | 0.00% | Add +300.0% | 4 | $224 |
| Sound Income Strategies, LLC | 0.00% | New | 1 | $56 |
| Parkworth Wealth Management, Inc. | 0.00% | No change | 1 | $56 |
| HFM Investment Advisors, LLC | 0.00% | — | 1 | $56 |
| Lazard Asset Management LLC | 0.00% | Reduce -98.6% | 8 | $0 |
"% of holder's portfolio" is AIR's weight in each manager's 13F, not the share of Aar Corp. the manager owns.