Apollo Commercial Real EstatARI
13F holders, Q3 2025 (September 30)At the end of Q3 2025, 262 institutions reported holding Apollo Commercial Real Estat (ARI) in their 13F filings, up 9 from Q2 2025. 31 opened new positions and 20 sold out. The largest holders were BlackRock, Inc. ($212.9M), Vanguard Group Inc. ($154.1M) and State Street Corp. ($54.4M). 6 famous investors held it, including Paul Tudor Jones (0.0% of Tudor Investment Corporation's portfolio), Ken Griffin (0.0% of Citadel Advisors's portfolio) and Cliff Asness (0.0% of AQR Capital Management's portfolio).
- Company
- Apollo Commercial Real Estat
- CUSIP
- 03762U105
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q2 2025 → Q3 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 31 | $8.4M |
| Exits | 20 | $9.1M |
All 13F filers, Q2 2025 → Q3 2025: 5,109,585 shares bought and 4,256,733 shares sold, net +852,852 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 262 holders
| BlackRock, Inc. | 0.00% | Reduce -0.1% | 21,015,430 | $212.9M |
| Vanguard Group Inc. | 0.00% | Reduce -0.3% | 15,208,862 | $154.1M |
| State Street Corp. | 0.00% | Add +1.2% | 5,241,985 | $54.4M |
| Geode Capital Management, LLC | 0.00% | Add +0.6% | 3,157,740 | $32.0M |
| No Street GP LP | 2.02% | Add +33.3% | 3,000,000 | $30.4M |
| Charles Schwab Investment Management Inc. | 0.00% | Add +0.2% | 2,263,663 | $22.9M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.03% | Add +6.9% | 2,085,917 | $21.1M |
| Northern Trust Corp. | 0.00% | Add +1.0% | 1,748,014 | $17.7M |
| Morgan Stanley | 0.00% | Reduce -6.4% | 1,599,801 | $16.2M |
| Invesco Ltd. | 0.00% | Reduce -15.2% | 1,095,257 | $11.1M |
| Van Eck Associates Corp. | 0.01% | Add +3.5% | 1,033,295 | $10.5M |
| Bank of New York Mellon Corp | 0.00% | Reduce -6.3% | 965,236 | $9.8M |
| Cura Wealth Advisors, LLC | 3.24% | Reduce -2.8% | 831,683 | $8.4M |
| Principal Financial Group Inc. | 0.00% | Add +21.9% | 774,154 | $7.8M |
| Citadel Advisors | 0.01% | Reduce -25.8% | 734,458 | $7.4M |
| JPMorgan Chase & Co. | 0.00% | Add +111.8% | 689,903 | $7.0M |
| Apollo Management Holdings, L.P. | 0.12% | No change | 665,573 | $6.7M |
| Goldman Sachs Group Inc. | 0.00% | Add +146.1% | 645,756 | $6.5M |
| Hotchkis & Wiley Capital Management LLC | 0.02% | Reduce -6.3% | 635,462 | $6.4M |
| Victory Capital Management Inc. | 0.00% | Add +11.3% | 594,686 | $6.0M |
| Barclays PLC | 0.00% | Add +43.5% | 537,292 | $5.4M |
| Public Sector Pension Investment Board | 0.02% | Add +17.1% | 509,429 | $5.2M |
| UBS Group AG | 0.00% | Add +99.0% | 488,708 | $5.0M |
| Edgestream Partners, L.P. | 0.14% | Reduce -15.7% | 463,460 | $4.7M |
| Prudential Financial Inc. | 0.01% | Add +89.3% | 435,455 | $4.4M |
| Bank of America Corp. | 0.00% | Reduce -24.4% | 420,456 | $4.3M |
| Rhumbline Advisers | 0.00% | Reduce -0.2% | 404,578 | $4.1M |
| Nuveen, LLC | 0.00% | Reduce -27.5% | 400,622 | $4.1M |
| Balyasny Asset Management L.P. | 0.01% | Add +17.4% | 389,566 | $3.9M |
| Lighthouse Investment Partners, LLC | 0.13% | Add +378.0% | 360,872 | $3.7M |
| Legal & General Group Plc | 0.00% | Reduce -4.7% | 341,584 | $3.5M |
| LPL Financial LLC | 0.00% | Reduce -0.1% | 338,826 | $3.4M |
| Ameriprise Financial Inc. | 0.00% | Reduce -13.8% | 336,724 | $3.4M |
| Tudor Investment Corporation | 0.02% | Reduce -0.8% | 324,130 | $3.3M |
| Allianz Asset Management GmbH | 0.00% | Add +117.5% | 304,979 | $3.1M |
| FJ Capital Management LLC | 0.32% | Add +81.4% | 299,904 | $3.0M |
| Advisors Asset Management, Inc. | 0.05% | Reduce -37.5% | 290,720 | $2.9M |
| BI Asset Management Fondsmaeglerselskab A/S | 0.03% | No change | 279,761 | $2.8M |
| AQR Capital Management | 0.00% | Add +158.1% | 269,701 | $2.7M |
| Wells Fargo & Company | 0.00% | Add +6.1% | 268,900 | $2.7M |
| Two Sigma Investments, LP | 0.00% | Add +3.4% | 265,859 | $2.7M |
| Swiss National Bank | 0.00% | Add +1.5% | 255,839 | $2.6M |
| New Age Alpha Advisors, LLC | 0.11% | Reduce -2.3% | 250,923 | $2.5M |
| Prelude Capital Management, LLC | 0.18% | No change | 225,000 | $2.3M |
| Carmel Capital Partners, LLC | 0.96% | New | 224,614 | $2.3M |
| New York State Teachers Retirement System | 0.00% | No change | 185,197 | $1.9M |
| Wolverine Asset Management LLC | 0.13% | No change | 178,634 | $1.8M |
| Alliancebernstein L.P. | 0.00% | Reduce -12.1% | 171,217 | $1.7M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Add +251.8% | 171,808 | $1.7M |
| LSV Asset Management | 0.00% | Reduce -14.1% | 162,882 | $1.6M |
| Am Investment Strategies LLC | 0.33% | Add +2.5% | 151,963 | $1.5M |
| Marshall Wace, LLP | 0.00% | Reduce -68.3% | 144,562 | $1.5M |
| Palogic Value Management, L.P. | 0.57% | Add +2.4% | 130,933 | $1.3M |
| Qube Research & Technologies Ltd | 0.00% | New | 128,574 | $1.3M |
| AlphaCore Capital LLC | 0.04% | Reduce -3.1% | 124,232 | $1.3M |
| Jane Street Group, LLC | 0.00% | Add +408.1% | 124,695 | $1.3M |
| California State Teachers Retirement System | 0.00% | Add +0.0% | 122,105 | $1.2M |
| Merit Financial Group, LLC | 0.01% | Add +1.7% | 118,666 | $1.2M |
| T. Rowe Price Associates Inc. | 0.00% | Add +4.9% | 113,396 | $1.1M |
| D. E. Shaw & Co. | 0.00% | Reduce -48.5% | 111,562 | $1.1M |
| Penserra Capital Management LLC | 0.01% | Add +3.5% | 110,246 | $1.1M |
| CANADA LIFE ASSURANCE Co | 0.00% | Add +0.9% | 108,565 | $1.1M |
| American Financial Group Inc. | 0.42% | No change | 105,154 | $1.1M |
| Deutsche Bank AG | 0.00% | Add +15.1% | 103,004 | $1.0M |
| Intech Investment Management LLC | 0.01% | Reduce -6.7% | 101,346 | $1.0M |
| Thrivent Financial for Lutherans | 0.00% | Add +0.2% | 94,669 | $959K |
| Atom Investors LP | 0.07% | Add +677.6% | 89,998 | $912K |
| Raymond James Financial Inc. | 0.00% | Add +5.8% | 87,478 | $886K |
| Kestra Advisory Services, LLC | 0.00% | Reduce -9.1% | 86,107 | $872K |
| Samalin Investment Counsel, LLC | 0.29% | Add +1.1% | 81,931 | $830K |
| MetLife Investment Management, LLC | 0.00% | Reduce -2.0% | 81,829 | $829K |
| First Trust Advisors LP | 0.00% | Reduce -0.4% | 78,533 | $796K |
| Osaic Holdings, Inc. | 0.00% | Add +13.3% | 74,860 | $787K |
| Lido Advisors, LLC | 0.00% | Reduce -0.1% | 75,737 | $786K |
| Cambridge Investment Research Advisors, Inc. | 0.00% | Add +103.8% | 76,090 | $771K |
| Caxton Associates LLP | 0.02% | New | 73,909 | $749K |
| Novare Capital Management LLC | 0.06% | Add +43.2% | 72,675 | $736K |
| Bramshill Investments, LLC | 0.05% | Reduce -2.3% | 69,986 | $709K |
| Cetera Investment Advisers | 0.00% | Add +27.9% | 69,554 | $705K |
| Y-Intercept (Hong Kong) Ltd | 0.02% | Add +114.3% | 69,016 | $699K |
| PFG Investments, LLC | 0.04% | Add +63.5% | 68,354 | $692K |
| WINTON GROUP Ltd | 0.03% | Add +349.6% | 66,700 | $676K |
| State of Alaska, Department of Revenue | 0.01% | Reduce -13.7% | 65,718 | $665K |
| Bank of Montreal | 0.00% | Reduce -8.8% | 63,965 | $648K |
| Illinois Municipal Retirement Fund | 0.01% | Reduce -5.2% | 63,430 | $643K |
| Manufacturers Life Insurance Company, The | 0.00% | Reduce -5.8% | 63,070 | $639K |
| Louisiana State Employees Retirement System | 0.01% | Add +0.5% | 60,000 | $608K |
| Triumph Capital Management | 0.16% | Add +8.7% | 59,535 | $603K |
| Janus Henderson Group PLC | 0.00% | No change | 59,476 | $602K |
| Stifel Financial Corp. | 0.00% | Add +10.9% | 58,575 | $593K |
| State Board of Administration of Florida Retirement System | 0.00% | No change | 57,264 | $580K |
| Two Sigma Advisers, LP | 0.00% | Reduce -42.2% | 56,500 | $572K |
| State of Tennessee, Department of Treasury | 0.00% | Reduce -0.3% | 54,451 | $552K |
| Ieq Capital, LLC | 0.00% | Add +168.5% | 53,375 | $541K |
| Royal Bank of Canada | 0.00% | Reduce -16.5% | 51,819 | $525K |
| SG Americas Securities, LLC | 0.00% | Add +65.4% | 51,296 | $520K |
| QRG Capital Management, Inc. | 0.01% | Reduce -35.5% | 50,589 | $512K |
| State of Wyoming | 0.06% | Add +19.6% | 48,984 | $496K |
| Hennion & Walsh Asset Management, Inc. | 0.02% | New | 46,939 | $475K |
| MAS Advisors LLC | 0.74% | Add +10.6% | 45,912 | $465K |
| Citigroup Inc. | 0.00% | Reduce -63.2% | 45,883 | $465K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | No change | 45,011 | $456K |
| Inspire Investing, LLC | 0.04% | Add +10.4% | 44,921 | $455K |
| Mariner, LLC | 0.00% | Add +19.3% | 44,185 | $448K |
| Sei Investments Co. | 0.00% | Add +0.1% | 43,047 | $436K |
| Handelsbanken Fonder AB | 0.00% | No change | 42,302 | $429K |
| Fox Run Management, L.L.C. | 0.07% | Add +32.9% | 42,282 | $428K |
| Yousif Capital Management, LLC | 0.00% | Reduce -14.7% | 40,395 | $409K |
| Mercer Global Advisors Inc. | 0.00% | Add +1.9% | 39,221 | $397K |
| New York State Common Retirement Fund | 0.00% | No change | 39,132 | $396K |
| Arizona State Retirement System | 0.00% | Add +1.4% | 39,059 | $396K |
| Police & Firemen's Retirement System of New Jersey | 0.00% | Add +21.8% | 38,669 | $392K |
| Amalgamated Bank | 0.00% | Add +3.2% | 38,257 | $388K |
| Guggenheim Capital LLC | 0.00% | Reduce -5.7% | 37,358 | $378K |
| Russell Investments Group, Ltd. | 0.00% | Add +8029.7% | 36,990 | $375K |
| Teachers Retirement System of the State of Kentucky | 0.00% | Reduce -12.8% | 36,500 | $370K |
| Verition Fund Management LLC | 0.00% | New | 35,929 | $364K |
| KLP Kapitalforvaltning As | 0.00% | Add +37.0% | 34,100 | $353K |
| BNP Paribas Financial Markets | 0.00% | Add +138.0% | 34,380 | $348K |
| Commonwealth of Pennsylvania Public School Empls Retrmt SYS | 0.00% | Add +1.4% | 33,262 | $337K |
| Renaissance Technologies | 0.00% | New | 32,540 | $330K |
| One Wealth Map LLC | 0.17% | No change | 33,233 | $324K |
| Ensign Peak Advisors, Inc | 0.00% | Reduce -63.2% | 31,915 | $323K |
| Quantinno Capital Management LP | 0.00% | Add +62.6% | 30,800 | $312K |
| Capstone Investment Advisors, LLC | 0.00% | New | 30,009 | $304K |
| HighTower Advisors, LLC | 0.00% | Add +65.7% | 29,434 | $298K |
| Oregon Public Employees Retirement Fund | 0.00% | Add +0.3% | 29,415 | $298K |
| PNC Financial Services Group, Inc. | 0.00% | Reduce -6.4% | 29,102 | $295K |
| Private Advisor Group, LLC | 0.00% | Add +8.8% | 28,592 | $290K |
| Squarepoint Ops LLC | 0.00% | New | 28,302 | $287K |
| Susquehanna International Group, LLP | 0.00% | Reduce -87.0% | 27,168 | $275K |
| Global Assets Advisory, LLC | 0.08% | New | 26,633 | $270K |
| Voya Investment Management LLC | 0.00% | Reduce -35.3% | 26,235 | $266K |
| ProShare Advisors LLC | 0.00% | Reduce -15.5% | 26,167 | $265K |
| STRS Ohio | 0.00% | Reduce -4.9% | 25,400 | $257K |
| Commonwealth Equity Services, LLC | 0.00% | Reduce -33.8% | 24,838 | $252K |
| Acadian Asset Management LLC | 0.00% | New | 24,577 | $248K |
| Simplex Trading, LLC | 0.01% | Reduce -87.6% | 24,342 | $246K |
| Global Retirement Partners, LLC | 0.01% | Add +93.5% | 23,684 | $240K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 23,479 | $238K |
| Beacon Pointe Advisors, LLC | 0.00% | Add +109.4% | 23,038 | $233K |
| Cerity Partners LLC | 0.00% | New | 22,621 | $229K |
| Envestnet Asset Management Inc. | 0.00% | Add +16.8% | 22,574 | $229K |
| Longboard Asset Management, LP | 0.36% | New | 21,927 | $222K |
| Nisa Investment Advisors, LLC | 0.00% | Reduce -14.3% | 20,182 | $211K |
| Creative Planning | 0.00% | Add +12.1% | 19,162 | $194K |
| Millennium Management | 0.00% | Reduce -47.8% | 18,851 | $191K |
| Maryland State Retirement & Pension System | 0.00% | Reduce -50.0% | 18,625 | $189K |
| Cwm, LLC | 0.00% | Add +179.2% | 17,922 | $182K |
| Quadrature Capital Ltd | 0.00% | New | 17,920 | $182K |
| AlphaQuest LLC | 0.01% | Reduce -31.4% | 17,504 | $177K |
| FMR LLC | 0.00% | Reduce -16.1% | 17,288 | $175K |
| Teacher Retirement System of Texas | 0.00% | Reduce -13.7% | 17,285 | $175K |
| Chiron Capital Management, LLC | 0.15% | No change | 16,920 | $171K |
| Motiv8 Investments LLC | 0.09% | Add +3.2% | 16,708 | $169K |
| Evergreen Capital Management LLC | 0.00% | New | 15,689 | $163K |
| CIBC Bancorp USA Inc. | 0.00% | — | 14,897 | $151K |
| Mutual of America Capital Management LLC | 0.00% | Reduce -10.9% | 14,630 | $148K |
| Diversify Wealth Management, LLC | 0.01% | No change | 15,001 | $146K |
| Pictet Asset Management Holding SA | 0.00% | No change | 13,835 | $140K |
| Entropy Technologies, LP | 0.01% | Reduce -63.6% | 13,458 | $136K |
| Rockefeller Capital Management L.P. | 0.00% | New | 13,401 | $136K |
| Jump Financial, LLC | 0.00% | Reduce -29.7% | 13,305 | $135K |
| Pathstone Holdings, LLC | 0.00% | New | 13,207 | $134K |
| CIBC Asset Management Inc | 0.00% | No change | 12,660 | $128K |
| State of Wisconsin Investment Board | 0.00% | Reduce -74.5% | 12,411 | $126K |
| Zacks Investment Management | 0.00% | New | 12,408 | $126K |
| Crossmark Global Holdings, Inc. | 0.00% | No change | 12,370 | $125K |
| Evoke Wealth, LLC | 0.00% | Add +6.7% | 11,988 | $124K |
| Neuberger Berman Group LLC | 0.00% | Add +4.0% | 12,201 | $124K |
| Abel Hall, LLC | 0.05% | New | 12,048 | $122K |
| Institute for Wealth Management, LLC. | 0.01% | New | 11,893 | $120K |
| HighPoint Advisor Group LLC | 0.01% | Reduce -1.9% | 11,856 | $120K |
| Legacy Financial Strategies, LLC | 0.02% | No change | 11,700 | $119K |
| Ameritas Investment Partners, Inc. | 0.00% | Reduce -17.3% | 11,675 | $118K |
| Independent Financial Group, LLC | 0.00% | Reduce -16.6% | 11,550 | $117K |
| Accuvest Global Advisors | 0.07% | Add +0.0% | 11,216 | $114K |
| Franklin Resources Inc. | 0.00% | New | 11,197 | $113K |
| Xponance LLC | 0.00% | Add +1.0% | 10,885 | $110K |
| Bartlett & Co. Wealth Management LLC | 0.00% | No change | 10,625 | $110K |
| Anfield Capital Management, LLC | 0.03% | No change | 10,862 | $110K |
| Keybank National Association | 0.00% | No change | 10,669 | $108K |
| Koshinski Asset Management, Inc. | 0.01% | Add +1.8% | 10,621 | $108K |
| Advisory Services Network, LLC | 0.00% | No change | 10,373 | $105K |
| Mutual Advisors, LLC | 0.00% | New | 10,036 | $103K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +18.6% | 8,346 | $85K |
| Arax Advisory Partners | 0.00% | New | 8,281 | $84K |
| Resources Management Corp. /CT/ | 0.01% | No change | 6,700 | $68K |
| Smartleaf Asset Management LLC | 0.00% | Add +9.3% | 6,279 | $64K |
| EMC Capital Management | 0.03% | No change | 5,813 | $59K |
| Harbour Investments, Inc. | 0.00% | Add +5.1% | 5,359 | $54K |
| Tower Research Capital LLC (TRC) | 0.00% | Reduce -64.2% | 5,154 | $52K |
| Sterling Capital Management LLC | 0.00% | Add +143.1% | 5,044 | $51K |
| Hollencrest Capital Management | 0.00% | No change | 5,000 | $51K |
| Danske Bank A/S | 0.00% | No change | 4,900 | $50K |
| NewEdge Advisors, LLC | 0.00% | Reduce -0.2% | 4,622 | $47K |
| Principal Securities, Inc. | 0.00% | No change | 4,506 | $46K |
| Public Employees Retirement System of Ohio | 0.00% | Add +1.7% | 4,289 | $43K |
| Signaturefd, LLC | 0.00% | Add +2.7% | 4,169 | $42K |
| KBC Group NV | 0.00% | No change | 4,107 | $42K |
| Shell Asset Management Co. | 0.00% | Reduce -52.5% | 4,047 | $41K |
| Farther Finance Advisors, LLC | 0.00% | Add +1047.8% | 3,145 | $32K |
| Parallel Advisors, LLC | 0.00% | Add +0.1% | 3,041 | $31K |
| Versant Capital Management, Inc | 0.00% | No change | 2,418 | $24K |
| US Bancorp \de | 0.00% | Add +26.9% | 2,382 | $24K |
| Nomura Asset Management Co. Ltd. | 0.00% | No change | 2,100 | $21K |
| City Holding Co. | 0.00% | No change | 2,000 | $20K |
| Community Bank, N.A. | 0.00% | No change | 2,000 | $20K |
| GAMMA Investing LLC | 0.00% | Add +9.7% | 1,766 | $18K |
| Fourth Dimension Wealth, LLC | 0.01% | No change | 1,400 | $14K |
| Cypress Capital Management LLC (WY) | 0.01% | Reduce -91.8% | 1,333 | $14K |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Reduce -99.8% | 1,330 | $13K |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.00% | Reduce -6.3% | 1,245 | $13K |
| Tradewinds Capital Management, LLC | 0.00% | Add +2.5% | 1,120 | $11K |
| Salomon & Ludwin, LLC | 0.00% | New | 1,091 | $11K |
| Allworth Financial LP | 0.00% | Add +26.1% | 1,013 | $10K |
| Future Financial Wealth Managment LLC | 0.01% | No change | 1,000 | $10K |
| Steward Partners Investment Advisory, LLC | 0.00% | No change | 1,000 | $10K |
| Bessemer Group Inc. | 0.00% | Add +48.9% | 786 | $9K |
| Quarry LP | 0.00% | Reduce -87.7% | 879 | $9K |
| Byrne Asset Management LLC | 0.01% | No change | 850 | $9K |
| Optiver Holding B.V. | 0.00% | Add +152.1% | 827 | $8K |
| Essential Partners LLC | 0.00% | Add +2044.7% | 815 | $8K |
| UMB Bank, n.a. | 0.00% | Add +19.6% | 757 | $8K |
| Huntington National Bank | 0.00% | No change | 710 | $7K |
| Heritage Wealth Advisors | 0.00% | No change | 700 | $7K |
| Larson Financial Group LLC | 0.00% | Add +2.0% | 661 | $7K |
| Federation des caisses Desjardins du Quebec | 0.00% | No change | 600 | $6K |
| Hantz Financial Services, Inc. | 0.00% | Add +16.9% | 568 | $6K |
| PEAK6 LLC | 0.00% | Reduce -98.9% | 549 | $6K |
| Optimum Investment Advisors | 0.00% | No change | 500 | $5K |
| Thompson Investment Management, Inc. | 0.00% | No change | 500 | $5K |
| Harbor Capital Advisors, Inc. | 0.00% | Add +1.3% | 487 | $5K |
| Groupe la Francaise | 0.00% | New | 520 | $5K |
| Assetmark, Inc. | 0.00% | Add +7.0% | 410 | $4K |
| Bokf, NA | 0.00% | No change | 395 | $4K |
| Lanark Financial, Inc. | 0.00% | Add +2.6% | 392 | $4K |
| Rothschild Investment LLC | 0.00% | Add +2.0% | 352 | $4K |
| Fifth Third Bancorp | 0.00% | Add +52.9% | 315 | $3K |
| IFP Advisors, Inc | 0.00% | Add +4.1% | 306 | $3K |
| Quadrant Capital Group LLC | 0.00% | New | 298 | $3K |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | No change | 298 | $3K |
| Bell Investment Advisors, Inc | 0.00% | No change | 259 | $3K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | No change | 242 | $2K |
| Parkside Financial Bank & Trust | 0.00% | Add +33.3% | 216 | $2K |
| Geneos Wealth Management Inc. | 0.00% | Reduce -29.1% | 200 | $2K |
| True Wealth Design, LLC | 0.00% | New | 184 | $2K |
| Halbert Hargrove Global Advisors, LLC | 0.00% | New | 184 | $2K |
| Clearstead Advisors, LLC | 0.00% | New | 174 | $2K |
| Clearstead Trust, LLC | 0.00% | No change | 119 | $1K |
| Farmers & Merchants Investments Inc. | 0.00% | No change | 97 | $983 |
| First Horizon Corp. | 0.00% | — | 83 | $841 |
| Blue Trust, Inc. | 0.00% | No change | 62 | $628 |
| Leonteq Securities AG | 0.00% | No change | 58 | $588 |
| ORG Partners LLC | 0.00% | No change | 47 | $485 |
| Financial Consulate, Inc. | 0.00% | New | 46 | $466 |
| Jones Financial Companies LLLP | 0.00% | No change | 37 | $379 |
| Wealthspire Advisors, LLC | 0.00% | New | 30 | $304 |
| Annis Gardner Whiting Capital Advisors, LLC | 0.00% | No change | 19 | $193 |
| Sunbelt Securities, Inc. | 0.00% | New | 5 | $51 |
| Capital Advisors, Ltd. LLC | 0.00% | No change | 35 | $0 |
| Covestor Ltd | 0.00% | No change | 11 | $0 |
"% of holder's portfolio" is ARI's weight in each manager's 13F, not the share of Apollo Commercial Real Estat the manager owns.