Apollo Commercial Real EstatARI
13F holders, Q4 2025 (December 31)262holders
26new positions
32sold out
4famous investors
$9.70avg. 13F price*
At the end of Q4 2025, 262 institutions reported holding Apollo Commercial Real Estat (ARI) in their 13F filings, unchanged from Q3 2025. 26 opened new positions and 32 sold out. The largest holders were BlackRock, Inc. ($205.5M), Vanguard Group Inc. ($146.1M) and State Street Corp. ($52.6M). 4 famous investors held it, including Paul Tudor Jones (0.0% of Tudor Investment Corporation's portfolio), Israel Englander (0.0% of Millennium Management's portfolio) and Ken Griffin (0.0% of Citadel Advisors's portfolio).
- Company
- Apollo Commercial Real Estat
- CUSIP
- 03762U105
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 26 | $11.2M |
| Exits | 32 | $12.1M |
All 13F filers, Q3 2025 → Q4 2025: 5,814,018 shares bought and 3,779,912 shares sold, net +2,034,106 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 262 holders
| BlackRock, Inc. | 0.00% | Add +1.0% | 21,226,663 | $205.5M |
| Vanguard Group Inc. | 0.00% | Reduce -0.8% | 15,092,682 | $146.1M |
| State Street Corp. | 0.00% | Add +1.1% | 5,298,362 | $52.6M |
| No Street GP LP | 2.11% | Add +7.7% | 3,231,095 | $31.3M |
| Geode Capital Management, LLC | 0.00% | Add +0.3% | 3,167,013 | $30.7M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.03% | Add +5.9% | 2,209,428 | $21.4M |
| Charles Schwab Investment Management Inc. | 0.00% | Reduce -2.7% | 2,203,408 | $21.3M |
| Morgan Stanley | 0.00% | Add +21.9% | 1,950,734 | $18.9M |
| Northern Trust Corp. | 0.00% | Reduce -5.8% | 1,647,093 | $15.9M |
| Invesco Ltd. | 0.00% | Add +13.6% | 1,244,477 | $12.0M |
| Van Eck Associates Corp. | 0.01% | Add +14.7% | 1,185,221 | $11.5M |
| Bank of New York Mellon Corp | 0.00% | Reduce -2.8% | 938,224 | $9.1M |
| Principal Financial Group Inc. | 0.00% | Add +10.3% | 853,894 | $8.3M |
| Cura Wealth Advisors, LLC | 3.02% | Reduce -1.0% | 823,233 | $8.0M |
| Goldman Sachs Group Inc. | 0.00% | Add +16.9% | 754,740 | $7.3M |
| Apollo Management Holdings, L.P. | 0.08% | No change | 665,573 | $6.4M |
| JPMorgan Chase & Co. | 0.00% | Reduce -3.7% | 664,489 | $6.4M |
| First Trust Advisors LP | 0.00% | Add +710.3% | 636,383 | $6.2M |
| Hotchkis & Wiley Capital Management LLC | 0.02% | No change | 635,462 | $6.2M |
| Tudor Investment Corporation | 0.03% | Add +80.4% | 584,800 | $5.7M |
| Waterfall Asset Management, LLC | 5.70% | New | 569,000 | $5.6M |
| UBS Group AG | 0.00% | Add +13.6% | 555,132 | $5.4M |
| Edgestream Partners, L.P. | 0.15% | Add +18.1% | 547,410 | $5.3M |
| Balyasny Asset Management L.P. | 0.01% | Add +33.0% | 517,928 | $5.0M |
| Millennium Management | 0.00% | Add +2573.9% | 504,054 | $4.9M |
| Public Sector Pension Investment Board | 0.01% | Reduce -11.1% | 452,674 | $4.4M |
| Allianz Asset Management GmbH | 0.00% | Add +45.8% | 444,772 | $4.3M |
| Qube Research & Technologies Ltd | 0.01% | Add +213.4% | 402,916 | $3.9M |
| Nuveen, LLC | 0.00% | Reduce -3.0% | 388,530 | $3.8M |
| Rhumbline Advisers | 0.00% | Reduce -4.8% | 385,140 | $3.7M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Add +28281.4% | 377,473 | $3.7M |
| Citadel Advisors | 0.00% | Reduce -48.8% | 376,365 | $3.6M |
| LPL Financial LLC | 0.00% | Add +4.3% | 353,273 | $3.4M |
| Bank of America Corp. | 0.00% | Reduce -22.6% | 325,493 | $3.2M |
| Legal & General Group Plc | 0.00% | Reduce -6.2% | 320,422 | $3.1M |
| Ameriprise Financial Inc. | 0.00% | Reduce -5.0% | 319,733 | $3.1M |
| Wells Fargo & Company | 0.00% | Add +17.5% | 316,047 | $3.1M |
| Carmel Capital Partners, LLC | 1.07% | Add +40.0% | 314,501 | $3.0M |
| AQR Capital Management | 0.00% | Add +16.2% | 313,475 | $3.0M |
| Lighthouse Investment Partners, LLC | 0.09% | Reduce -19.4% | 290,695 | $2.8M |
| BI Asset Management Fondsmaeglerselskab A/S | 0.02% | No change | 279,761 | $2.7M |
| Two Sigma Investments, LP | 0.00% | Reduce -1.0% | 263,151 | $2.5M |
| Swiss National Bank | 0.00% | Add +1.7% | 260,239 | $2.5M |
| Purpose Unlimited Inc. | 0.11% | — | 247,178 | $2.4M |
| New Age Alpha Advisors, LLC | 0.10% | Reduce -4.8% | 238,806 | $2.3M |
| Prelude Capital Management, LLC | 0.16% | No change | 225,000 | $2.2M |
| Barclays PLC | 0.00% | Reduce -59.5% | 217,800 | $2.1M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Add +23.1% | 211,459 | $2.1M |
| New York State Teachers Retirement System | 0.00% | Add +5.9% | 196,071 | $1.9M |
| Alliancebernstein L.P. | 0.00% | Add +13.8% | 194,817 | $1.9M |
| Y-Intercept (Hong Kong) Ltd | 0.04% | Add +176.6% | 190,922 | $1.8M |
| Wolverine Asset Management LLC | 0.10% | No change | 178,634 | $1.7M |
| Am Investment Strategies LLC | 0.31% | Add +2.5% | 155,731 | $1.5M |
| Norges Bank | 0.00% | — | 145,800 | $1.4M |
| Prudential Financial Inc. | 0.00% | Reduce -67.0% | 143,556 | $1.4M |
| Palogic Value Management, L.P. | 0.55% | Add +0.7% | 131,809 | $1.3M |
| Mackenzie Financial Corp. | 0.00% | New | 126,747 | $1.3M |
| Intech Investment Management LLC | 0.01% | Add +27.6% | 129,266 | $1.3M |
| Hennion & Walsh Asset Management, Inc. | 0.04% | Add +174.4% | 128,801 | $1.2M |
| Merit Financial Group, LLC | 0.01% | Add +7.4% | 127,429 | $1.2M |
| California State Teachers Retirement System | 0.00% | Reduce -0.1% | 121,983 | $1.2M |
| T. Rowe Price Associates Inc. | 0.00% | Add +5.5% | 119,577 | $1.2M |
| AlphaCore Capital LLC | 0.03% | Reduce -3.9% | 119,435 | $1.2M |
| Penserra Capital Management LLC | 0.01% | Add +4.3% | 114,999 | $1.1M |
| Nomura Holdings Inc. | 0.00% | New | 109,470 | $1.1M |
| Novare Capital Management LLC | 0.08% | Add +49.5% | 108,675 | $1.1M |
| Thrivent Financial for Lutherans | 0.00% | Add +14.7% | 108,613 | $1.1M |
| CANADA LIFE ASSURANCE Co | 0.00% | No change | 108,565 | $1.1M |
| Deutsche Bank AG | 0.00% | Add +4.5% | 107,694 | $1.0M |
| American Financial Group Inc. | 0.38% | No change | 105,154 | $1.0M |
| Jane Street Group, LLC | 0.00% | Reduce -18.1% | 102,139 | $989K |
| SG Americas Securities, LLC | 0.00% | Add +94.8% | 99,940 | $967K |
| Victory Capital Management Inc. | 0.00% | Reduce -83.3% | 99,087 | $959K |
| Caxton Associates LLP | 0.02% | Add +27.7% | 94,400 | $914K |
| Raymond James Financial Inc. | 0.00% | Add +3.1% | 90,194 | $873K |
| Samalin Investment Counsel, LLC | 0.29% | Add +2.1% | 83,682 | $810K |
| Kestra Advisory Services, LLC | 0.00% | Reduce -5.4% | 81,426 | $788K |
| Lido Advisors, LLC | 0.00% | Reduce 0.0% | 75,736 | $786K |
| MetLife Investment Management, LLC | 0.00% | Reduce -8.0% | 75,312 | $729K |
| Osaic Holdings, Inc. | 0.00% | Add +0.2% | 75,019 | $726K |
| PFG Investments, LLC | 0.03% | Add +4.2% | 71,241 | $690K |
| Illinois Municipal Retirement Fund | 0.01% | Add +9.8% | 69,657 | $674K |
| Advisors Asset Management, Inc. | 0.01% | Reduce -76.2% | 69,126 | $669K |
| State of Alaska, Department of Revenue | 0.01% | Add +1.2% | 66,503 | $643K |
| Bank of Montreal | 0.00% | Add +3.1% | 65,945 | $638K |
| Stifel Financial Corp. | 0.00% | Add +8.0% | 63,278 | $613K |
| Ieq Capital, LLC | 0.00% | Add +16.8% | 62,360 | $604K |
| Royal Bank of Canada | 0.00% | Add +17.7% | 60,974 | $590K |
| North Ground Capital | 0.29% | New | 60,000 | $581K |
| Natixis | 0.00% | New | 60,000 | $581K |
| Louisiana State Employees Retirement System | 0.01% | Reduce -0.3% | 59,800 | $579K |
| Janus Henderson Group PLC | 0.00% | No change | 59,476 | $576K |
| Cetera Investment Advisers | 0.00% | Reduce -15.1% | 59,066 | $572K |
| Manufacturers Life Insurance Company, The | 0.00% | Reduce -7.3% | 58,455 | $566K |
| Citigroup Inc. | 0.00% | Add +27.1% | 58,312 | $564K |
| State Board of Administration of Florida Retirement System | 0.00% | No change | 57,264 | $554K |
| QRG Capital Management, Inc. | 0.01% | Add +11.3% | 56,284 | $545K |
| Cambridge Investment Research Advisors, Inc. | 0.00% | Reduce -26.5% | 55,955 | $542K |
| Mariner, LLC | 0.00% | Add +22.1% | 53,970 | $524K |
| Handelsbanken Fonder AB | 0.00% | Add +27.2% | 53,802 | $521K |
| State of Tennessee, Department of Treasury | 0.00% | Reduce -12.4% | 47,699 | $516K |
| Triumph Capital Management | 0.11% | Reduce -11.0% | 52,979 | $513K |
| VARCOV Co. | 0.19% | — | 48,672 | $471K |
| Inspire Investing, LLC | 0.04% | Add +7.2% | 48,157 | $466K |
| State of Wyoming | 0.05% | Reduce -3.7% | 47,159 | $456K |
| Mercer Global Advisors Inc. | 0.00% | Add +18.1% | 46,312 | $448K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | No change | 45,011 | $436K |
| Sei Investments Co. | 0.00% | Add +0.0% | 43,064 | $417K |
| New York State Common Retirement Fund | 0.00% | No change | 39,132 | $379K |
| Police & Firemen's Retirement System of New Jersey | 0.00% | No change | 38,669 | $374K |
| WINTON GROUP Ltd | 0.01% | Reduce -42.7% | 38,244 | $370K |
| Amalgamated Bank | 0.00% | Reduce -0.1% | 38,234 | $370K |
| Two Sigma Advisers, LP | 0.00% | Reduce -33.1% | 37,800 | $366K |
| Weiss Asset Management LP | 0.01% | New | 37,162 | $360K |
| Quantinno Capital Management LP | 0.00% | Add +20.2% | 37,033 | $358K |
| Arizona State Retirement System | 0.00% | Reduce -5.8% | 36,789 | $356K |
| Russell Investments Group, Ltd. | 0.00% | Reduce -1.5% | 36,431 | $353K |
| Yousif Capital Management, LLC | 0.00% | Reduce -13.3% | 35,016 | $351K |
| One Wealth Map LLC | 0.17% | Reduce -4.1% | 31,860 | $343K |
| Verition Fund Management LLC | 0.00% | Reduce -5.7% | 33,900 | $328K |
| Teachers Retirement System of the State of Kentucky | 0.00% | Reduce -10.3% | 32,739 | $317K |
| HighTower Advisors, LLC | 0.00% | Add +10.2% | 32,446 | $314K |
| Private Advisor Group, LLC | 0.00% | Add +13.4% | 32,435 | $314K |
| Commonwealth of Pennsylvania Public School Empls Retrmt SYS | 0.00% | Reduce -2.8% | 32,334 | $313K |
| Dynamic Technology Lab Private Ltd | 0.07% | New | 31,560 | $306K |
| BNP Paribas Financial Markets | 0.00% | Reduce -8.6% | 31,429 | $304K |
| Oregon Public Employees Retirement Fund | 0.00% | Add +1.7% | 29,915 | $290K |
| KLP Kapitalforvaltning As | 0.00% | Reduce -17.9% | 28,000 | $277K |
| ProShare Advisors LLC | 0.00% | Add +3.4% | 27,061 | $262K |
| Voya Investment Management LLC | 0.00% | No change | 26,235 | $254K |
| Cerity Partners LLC | 0.00% | Add +15.0% | 26,010 | $252K |
| Susquehanna International Group, LLP | 0.00% | Reduce -4.8% | 25,864 | $250K |
| STRS Ohio | 0.00% | No change | 25,400 | $246K |
| Rockefeller Capital Management L.P. | 0.00% | Add +76.1% | 23,598 | $228K |
| MQS Management LLC | 0.13% | New | 23,468 | $227K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 23,479 | $227K |
| PNC Financial Services Group, Inc. | 0.00% | Reduce -20.3% | 23,200 | $225K |
| Commonwealth Equity Services, LLC | 0.00% | Reduce -6.8% | 23,138 | $224K |
| Beacon Pointe Advisors, LLC | 0.00% | No change | 23,038 | $223K |
| Jump Financial, LLC | 0.00% | Add +73.0% | 23,015 | $223K |
| Guggenheim Capital LLC | 0.00% | Reduce -38.9% | 22,819 | $221K |
| Global Retirement Partners, LLC | 0.00% | Reduce -5.6% | 22,353 | $216K |
| PharVision Advisers, LLC | 0.11% | New | 22,350 | $216K |
| Jupiter Asset Management Ltd. | 0.00% | New | 22,009 | $213K |
| Longboard Asset Management, LP | 1.35% | No change | 21,927 | $212K |
| Creative Planning | 0.00% | Add +4.1% | 19,940 | $193K |
| Engineers Gate Manager LP | 0.00% | New | 19,592 | $190K |
| Envestnet Asset Management Inc. | 0.00% | Reduce -14.9% | 19,206 | $186K |
| Maryland State Retirement & Pension System | 0.00% | Add +1.8% | 18,952 | $183K |
| Motiv8 Investments LLC | 0.10% | Add +10.9% | 18,532 | $179K |
| FMR LLC | 0.00% | Add +5.0% | 18,152 | $176K |
| Cwm, LLC | 0.00% | Reduce -1.1% | 17,728 | $172K |
| Global Assets Advisory, LLC | 0.05% | Reduce -35.3% | 17,226 | $167K |
| Accuvest Global Advisors | 0.12% | Add +51.3% | 16,967 | $164K |
| Profund Advisors LLC | 0.00% | New | 16,156 | $156K |
| AlphaQuest LLC | 0.01% | Reduce -8.2% | 16,074 | $156K |
| Diversify Wealth Management, LLC | 0.01% | No change | 15,001 | $148K |
| Franklin Resources Inc. | 0.00% | Add +36.0% | 15,229 | $147K |
| Mutual of America Capital Management LLC | 0.00% | Add +2.0% | 14,928 | $145K |
| Nisa Investment Advisors, LLC | 0.00% | Reduce -31.0% | 13,928 | $140K |
| Pictet Asset Management Holding SA | 0.00% | No change | 13,835 | $134K |
| Pathstone Holdings, LLC | 0.00% | Reduce -0.2% | 13,182 | $128K |
| CIBC Asset Management Inc | 0.00% | Add +3.0% | 13,036 | $126K |
| Landscape Capital Management, L.L.C. | 0.01% | New | 12,847 | $124K |
| Crossmark Global Holdings, Inc. | 0.00% | No change | 12,370 | $120K |
| Evoke Wealth, LLC | 0.00% | Add +0.3% | 12,028 | $119K |
| Institute for Wealth Management, LLC. | 0.01% | Add +1.7% | 12,093 | $117K |
| Independent Financial Group, LLC | 0.00% | Add +4.3% | 12,050 | $117K |
| Abel Hall, LLC | 0.03% | Reduce -0.4% | 11,995 | $116K |
| Legacy Financial Strategies, LLC | 0.02% | No change | 11,700 | $113K |
| Ameritas Investment Partners, Inc. | 0.00% | No change | 11,675 | $113K |
| Neuberger Berman Group LLC | 0.00% | Reduce -5.6% | 11,522 | $112K |
| Xponance LLC | 0.00% | Add +0.6% | 10,945 | $106K |
| Bartlett & Co. Wealth Management LLC | 0.00% | No change | 10,625 | $105K |
| MML Investors Services, LLC | 0.00% | New | 10,863 | $105K |
| Oak Thistle LLC | 0.01% | New | 10,859 | $105K |
| HighPoint Advisor Group LLC | 0.00% | Reduce -9.7% | 10,707 | $104K |
| Ethic Inc. | 0.00% | New | 10,568 | $102K |
| Anfield Capital Management, LLC | 0.03% | Reduce -3.7% | 10,462 | $101K |
| Steward Partners Investment Advisory, LLC | 0.00% | Add +943.8% | 10,438 | $101K |
| Mutual Advisors, LLC | 0.00% | Add +0.6% | 10,094 | $98K |
| KBC Group NV | 0.00% | Add +97.0% | 8,092 | $78K |
| EverSource Wealth Advisors, LLC | 0.00% | Reduce -7.2% | 7,749 | $75K |
| Wealth Enhancement Trust Services, Inc. | 0.01% | — | 7,660 | $74K |
| Smartleaf Asset Management LLC | 0.00% | Add +18.8% | 7,462 | $74K |
| Resources Management Corp. /CT/ | 0.01% | No change | 6,700 | $65K |
| Tower Research Capital LLC (TRC) | 0.00% | Add +18.6% | 6,111 | $59K |
| Ensign Peak Advisors, Inc | 0.00% | Reduce -81.2% | 6,015 | $58K |
| Pinnacle Wealth Planning Services, Inc. | 0.01% | New | 5,610 | $54K |
| Farther Finance Advisors, LLC | 0.00% | Add +60.2% | 5,037 | $49K |
| EMC Capital Management | 0.02% | Reduce -15.0% | 4,941 | $48K |
| Danske Bank A/S | 0.00% | No change | 4,900 | $47K |
| NewEdge Advisors, LLC | 0.00% | Reduce -0.3% | 4,606 | $45K |
| Sterling Capital Management LLC | 0.00% | Reduce -10.1% | 4,533 | $44K |
| Signaturefd, LLC | 0.00% | Add +7.3% | 4,474 | $43K |
| Public Employees Retirement System of Ohio | 0.00% | Reduce -5.0% | 4,076 | $39K |
| Parallel Advisors, LLC | 0.00% | Reduce -5.3% | 2,879 | $28K |
| GAMMA Investing LLC | 0.00% | Add +60.4% | 2,832 | $27K |
| US Bancorp \de | 0.00% | Add +3.6% | 2,469 | $24K |
| Versant Capital Management, Inc | 0.00% | No change | 2,418 | $23K |
| Quarry LP | 0.00% | Add +163.0% | 2,312 | $22K |
| Nomura Asset Management Co. Ltd. | 0.00% | No change | 2,100 | $20K |
| Community Bank, N.A. | 0.00% | No change | 2,000 | $19K |
| Basecamp Wealth Advisors LLC | 0.00% | — | 1,773 | $17K |
| Allworth Financial LP | 0.00% | Add +73.7% | 1,760 | $17K |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.00% | Add +40.8% | 1,753 | $17K |
| Fourth Dimension Wealth, LLC | 0.00% | No change | 1,400 | $14K |
| Cypress Capital Management LLC (WY) | 0.01% | Reduce -7.5% | 1,233 | $12K |
| Tradewinds Capital Management, LLC | 0.00% | Add +2.4% | 1,147 | $11K |
| Salomon & Ludwin, LLC | 0.00% | No change | 1,091 | $11K |
| UMB Bank, n.a. | 0.00% | Add +22.1% | 924 | $9K |
| Byrne Asset Management LLC | 0.00% | No change | 850 | $8K |
| Los Angeles Capital Management LLC | 0.00% | New | 709 | $7K |
| Sound Income Strategies, LLC | 0.00% | New | 691 | $7K |
| Hantz Financial Services, Inc. | 0.00% | Add +30.3% | 740 | $7K |
| Torren Management, LLC | 0.00% | — | 722 | $7K |
| Huntington National Bank | 0.00% | No change | 710 | $7K |
| Garton & Associates Financial Advisors LLC | 0.00% | — | 708 | $7K |
| Heritage Wealth Advisors | 0.00% | No change | 700 | $7K |
| Aster Capital Management (DIFC) Ltd | 0.00% | New | 633 | $6K |
| Bessemer Group Inc. | 0.00% | Reduce -15.3% | 666 | $6K |
| Essential Partners LLC | 0.00% | Reduce -26.0% | 603 | $6K |
| Federation des caisses Desjardins du Quebec | 0.00% | No change | 600 | $6K |
| Harbor Capital Advisors, Inc. | 0.00% | Reduce -1.6% | 479 | $5K |
| Thompson Investment Management, Inc. | 0.00% | No change | 500 | $5K |
| IFP Advisors, Inc | 0.00% | Add +57.5% | 482 | $5K |
| C M Bidwell & Associates Ltd. | 0.00% | New | 459 | $4K |
| Arax Advisory Partners | 0.00% | Reduce -94.9% | 425 | $4K |
| Assetmark, Inc. | 0.00% | Add +0.2% | 411 | $4K |
| Lanark Financial, Inc. | 0.00% | Add +2.3% | 401 | $4K |
| DV Equities, LLC | 0.00% | — | 390 | $4K |
| Optiver Holding B.V. | 0.00% | Reduce -54.9% | 373 | $4K |
| Fifth Third Bancorp | 0.00% | Add +7.6% | 339 | $3K |
| Jones Financial Companies LLLP | 0.00% | Add +810.8% | 337 | $3K |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | No change | 298 | $3K |
| Quadrant Capital Group LLC | 0.00% | No change | 298 | $3K |
| Bell Investment Advisors, Inc | 0.00% | No change | 259 | $3K |
| Harbour Investments, Inc. | 0.00% | Reduce -95.2% | 259 | $3K |
| Rothschild Investment LLC | 0.00% | Reduce -31.0% | 243 | $2K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | No change | 242 | $2K |
| Geneos Wealth Management Inc. | 0.00% | No change | 200 | $2K |
| Parkside Financial Bank & Trust | 0.00% | Reduce -25.0% | 162 | $2K |
| True Wealth Design, LLC | 0.00% | Reduce -14.1% | 158 | $2K |
| Larson Financial Group LLC | 0.00% | Reduce -79.4% | 136 | $1K |
| MAI Capital Management | 0.00% | New | 127 | $1K |
| Ares Financial Consulting, LLC | 0.00% | — | 112 | $1K |
| Farmers & Merchants Investments Inc. | 0.00% | No change | 97 | $939 |
| First Horizon Corp. | 0.00% | No change | 83 | $803 |
| Blue Trust, Inc. | 0.00% | No change | 62 | $600 |
| Leonteq Securities AG | 0.00% | No change | 58 | $561 |
| ORG Partners LLC | 0.00% | No change | 47 | $463 |
| Financial Consulate, Inc. | 0.00% | No change | 46 | $446 |
| Ankerstar Wealth, LLC | 0.00% | — | 38 | $377 |
| CIBC Private Wealth Group LLC | 0.00% | New | 32 | $310 |
| SJS Investment Consulting Inc. | 0.00% | New | 31 | $301 |
| Clearstead Advisors, LLC | 0.00% | Reduce -88.5% | 20 | $194 |
| Gilpin Wealth Management, LLC | 0.00% | — | 10 | $97 |
| Sunbelt Securities, Inc. | 0.00% | No change | 5 | $48 |
| Dunhill Financial, LLC | 0.00% | New | 3 | $29 |
| POM Investment Strategies, LLC | 0.00% | New | 1 | $10 |
| 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.