Apollo Commercial Real EstatARI
13F holders, Q1 2026 (March 31)At the end of Q1 2026, 271 institutions reported holding Apollo Commercial Real Estat (ARI) in their 13F filings, up 9 from Q4 2025. 41 opened new positions and 29 sold out. The largest holders were BlackRock, Inc. ($223.7M), Vanguard Portfolio Management LLC ($83.8M) and Vanguard Capital Management LLC ($67.6M). 4 famous investors held it, including Israel Englander (0.0% of Millennium Management's portfolio), Jim Simons / Peter Brown (0.0% of Renaissance Technologies'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 Q4 2025 → Q1 2026
| Institutions | Total Value | |
|---|---|---|
| New Positions | 41 | $55.4M |
| Exits | 29 | $27.3M |
All 13F filers, Q4 2025 → Q1 2026: 9,391,614 shares bought and 5,842,765 shares sold, net +3,548,849 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 271 holders
| BlackRock, Inc. | 0.00% | Reduce -0.2% | 21,183,896 | $223.7M |
| Vanguard Portfolio Management LLC | 0.00% | — | 7,936,417 | $83.8M |
| Vanguard Capital Management LLC | 0.00% | — | 6,404,943 | $67.6M |
| State Street Corp. | 0.00% | Reduce -0.6% | 5,266,219 | $56.9M |
| No Street GP LP | 2.36% | Add +3.7% | 3,350,000 | $35.4M |
| Geode Capital Management, LLC | 0.00% | Add +5.0% | 3,324,652 | $35.1M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.04% | Add +24.2% | 2,744,906 | $29.0M |
| Invesco Ltd. | 0.00% | Add +74.4% | 2,170,664 | $22.9M |
| Charles Schwab Investment Management Inc. | 0.00% | Reduce -2.1% | 2,157,978 | $22.8M |
| Morgan Stanley | 0.00% | Reduce -8.7% | 1,780,963 | $18.8M |
| Northern Trust Corp. | 0.00% | Add +3.0% | 1,696,864 | $17.9M |
| Millennium Management | 0.01% | Add +155.2% | 1,286,506 | $13.6M |
| Van Eck Associates Corp. | 0.01% | Add +4.3% | 1,236,648 | $13.1M |
| Bank of New York Mellon Corp | 0.00% | Reduce -0.8% | 930,396 | $9.8M |
| Vanguard Fiduciary Trust Co. | 0.00% | — | 889,864 | $9.4M |
| Empyrean Capital Partners, LP | 0.33% | New | 883,751 | $9.3M |
| First Trust Advisors LP | 0.01% | Add +23.0% | 782,514 | $8.3M |
| UBS Group AG | 0.00% | Add +36.1% | 755,540 | $8.0M |
| Azora Capital LP | 0.49% | New | 708,335 | $7.5M |
| Apollo Management Holdings, L.P. | 0.14% | No change | 665,573 | $7.0M |
| JPMorgan Chase & Co. | 0.00% | Reduce -1.9% | 651,535 | $6.9M |
| Principal Financial Group Inc. | 0.00% | Reduce -25.0% | 640,301 | $6.8M |
| Hotchkis & Wiley Capital Management LLC | 0.02% | Reduce -3.4% | 613,662 | $6.5M |
| Edgestream Partners, L.P. | 0.17% | Reduce -8.4% | 501,541 | $5.3M |
| Public Sector Pension Investment Board | 0.02% | Add +3.7% | 469,417 | $5.0M |
| Goldman Sachs Group Inc. | 0.00% | Reduce -39.5% | 456,788 | $4.8M |
| Readystate Asset Management LP | 0.49% | New | 450,770 | $4.8M |
| Cura Wealth Advisors, LLC | 2.07% | Reduce -46.9% | 437,233 | $4.6M |
| Rhumbline Advisers | 0.00% | Add +1.2% | 389,837 | $4.1M |
| Bank of America Corp. | 0.00% | Add +17.4% | 382,239 | $4.0M |
| Nomura Holdings Inc. | 0.03% | Add +236.2% | 368,083 | $3.9M |
| XTX Topco Ltd | 0.07% | New | 361,761 | $3.8M |
| Allianz Asset Management GmbH | 0.00% | Reduce -22.7% | 343,615 | $3.6M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Reduce -9.3% | 342,414 | $3.6M |
| Susquehanna International Group, LLP | 0.00% | Add +1204.5% | 337,406 | $3.6M |
| Carmel Capital Partners, LLC | 1.28% | Add +6.9% | 336,262 | $3.6M |
| Nuveen, LLC | 0.00% | Reduce -13.8% | 334,905 | $3.5M |
| Renaissance Technologies | 0.01% | New | 327,540 | $3.5M |
| LPL Financial LLC | 0.00% | Reduce -7.8% | 325,854 | $3.4M |
| AQR Capital Management | 0.00% | Add +2.6% | 321,544 | $3.4M |
| Legal & General Group Plc | 0.00% | Reduce -0.3% | 319,353 | $3.4M |
| Ameriprise Financial Inc. | 0.00% | Reduce -3.9% | 307,163 | $3.3M |
| NewGen Asset Management Ltd | 1.96% | New | 305,670 | $3.2M |
| Brevan Howard Capital Management LP | 0.03% | New | 304,972 | $3.2M |
| Purpose Unlimited Inc. | 0.12% | Add +12.1% | 277,178 | $2.9M |
| Balyasny Asset Management L.P. | 0.01% | Reduce -46.7% | 276,134 | $2.9M |
| BI Asset Management Fondsmaeglerselskab A/S | 0.03% | Reduce -5.6% | 264,070 | $2.8M |
| Swiss National Bank | 0.00% | No change | 260,239 | $2.7M |
| PEAK6 LLC | 0.07% | New | 232,539 | $2.5M |
| New Age Alpha Advisors, LLC | 0.11% | Reduce -3.7% | 230,070 | $2.4M |
| Wells Fargo & Company | 0.00% | Reduce -30.6% | 219,307 | $2.3M |
| Davidson Kempner Capital Management LP | 0.06% | New | 219,217 | $2.3M |
| One William Street Capital Management, L.P. | 4.06% | New | 200,000 | $2.1M |
| Prelude Capital Management, LLC | 0.16% | Reduce -11.1% | 200,000 | $2.1M |
| Two Sigma Investments, LP | 0.00% | Reduce -24.3% | 199,270 | $2.1M |
| New York State Teachers Retirement System | 0.00% | Reduce -7.9% | 180,619 | $1.9M |
| Wolverine Asset Management LLC | 0.10% | No change | 178,634 | $1.9M |
| Alliancebernstein L.P. | 0.00% | No change | 194,817 | $1.9M |
| Alpine Global Management, LLC | 0.31% | New | 167,773 | $1.8M |
| Family Manage LLC | 0.20% | New | 159,283 | $1.7M |
| Hennion & Walsh Asset Management, Inc. | 0.05% | Add +19.1% | 153,450 | $1.6M |
| Jane Street Group, LLC | 0.00% | Add +50.0% | 153,192 | $1.6M |
| Truvestments Capital LLC | 0.29% | New | 153,111 | $1.6M |
| T. Rowe Price Associates Inc. | 0.00% | Add +23.9% | 148,176 | $1.6M |
| California State Teachers Retirement System | 0.00% | Add +14.6% | 139,738 | $1.5M |
| Prudential Financial Inc. | 0.00% | Reduce -4.8% | 136,696 | $1.4M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Reduce -39.3% | 128,375 | $1.4M |
| Merit Financial Group, LLC | 0.01% | Add +1.2% | 128,997 | $1.4M |
| Advisors Asset Management, Inc. | 0.02% | Add +82.0% | 125,781 | $1.3M |
| AlphaCore Capital LLC | 0.03% | Add +0.8% | 120,377 | $1.3M |
| Deutsche Bank AG | 0.00% | Add +12.7% | 121,416 | $1.3M |
| Simplex Trading, LLC | 0.04% | New | 119,664 | $1.3M |
| Penserra Capital Management LLC | 0.01% | Add +2.9% | 118,335 | $1.2M |
| Novare Capital Management LLC | 0.10% | Add +5.1% | 114,175 | $1.2M |
| CANADA LIFE ASSURANCE Co | 0.00% | Add +4.1% | 113,037 | $1.2M |
| Thrivent Financial for Lutherans | 0.00% | Add +3.8% | 112,752 | $1.2M |
| Brooklyn Investment Group | 0.04% | New | 112,471 | $1.2M |
| VANGUARD ASSET MANAGEMENT, Ltd | 0.00% | — | 112,036 | $1.2M |
| Citadel Advisors | 0.00% | Reduce -71.4% | 107,656 | $1.1M |
| American Financial Group Inc. | 0.41% | No change | 105,154 | $1.1M |
| Troluce Capital Advisors LLC | 0.12% | New | 104,800 | $1.1M |
| Raymond James Financial Inc. | 0.00% | Add +11.6% | 100,662 | $1.1M |
| Victory Capital Management Inc. | 0.00% | Reduce -0.0% | 99,069 | $1.0M |
| Rockefeller Capital Management L.P. | 0.00% | Add +311.3% | 97,048 | $1.0M |
| LDR Capital Management LLC | 1.96% | New | 95,131 | $1.0M |
| Osaic Holdings, Inc. | 0.00% | Add +22.6% | 91,958 | $971K |
| Kestra Advisory Services, LLC | 0.00% | Add +5.5% | 85,940 | $908K |
| Lido Advisors, LLC | 0.00% | Reduce -0.0% | 75,724 | $819K |
| MetLife Investment Management, LLC | 0.00% | Reduce -2.9% | 73,135 | $772K |
| Samalin Investment Counsel, LLC | 0.27% | Reduce -13.7% | 72,259 | $763K |
| Bank of Montreal | 0.00% | Add +9.2% | 71,989 | $760K |
| PFG Investments, LLC | 0.04% | Add +0.8% | 71,830 | $759K |
| Sophron Capital Management L.P. | 0.22% | New | 70,484 | $744K |
| Illinois Municipal Retirement Fund | 0.01% | Reduce -5.5% | 65,824 | $695K |
| Handelsbanken Fonder AB | 0.00% | Add +21.4% | 65,302 | $690K |
| State of Alaska, Department of Revenue | 0.01% | Reduce -2.1% | 65,104 | $687K |
| QRG Capital Management, Inc. | 0.01% | Add +13.8% | 64,026 | $676K |
| Stifel Financial Corp. | 0.00% | Add +0.3% | 63,448 | $670K |
| Voloridge Investment Management, LLC | 0.00% | New | 62,895 | $664K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | Add +33.7% | 60,180 | $636K |
| Natixis | 0.00% | No change | 60,000 | $634K |
| Janus Henderson Group PLC | 0.00% | No change | 59,476 | $628K |
| Louisiana State Employees Retirement System | 0.01% | Reduce -2.7% | 58,200 | $615K |
| State Board of Administration of Florida Retirement System | 0.00% | No change | 57,264 | $605K |
| Manufacturers Life Insurance Company, The | 0.00% | Reduce -2.8% | 56,817 | $600K |
| Cambridge Investment Research Advisors, Inc. | 0.00% | Add +1.0% | 56,534 | $597K |
| Triumph Capital Management | 0.12% | Add +0.3% | 53,160 | $575K |
| Sei Investments Co. | 0.00% | Add +25.8% | 54,167 | $572K |
| State of Tennessee, Department of Treasury | 0.00% | Add +10.3% | 52,590 | $555K |
| Vanguard Global Advisers, LLC | 0.00% | — | 51,605 | $545K |
| Inspire Investing, LLC | 0.03% | Add +1.4% | 48,825 | $516K |
| Cetera Investment Advisers | 0.00% | Reduce -20.6% | 46,890 | $495K |
| State of Wyoming | 0.06% | Reduce -1.6% | 46,395 | $490K |
| Mariner, LLC | 0.00% | Reduce -15.8% | 45,471 | $480K |
| SG Americas Securities, LLC | 0.00% | Reduce -54.5% | 45,435 | $480K |
| Intech Investment Management LLC | 0.00% | Reduce -66.2% | 43,737 | $462K |
| Group One Trading LLC | 0.01% | New | 42,716 | $451K |
| Quantinno Capital Management LP | 0.00% | Add +11.6% | 41,339 | $437K |
| Royal Bank of Canada | 0.00% | Reduce -34.1% | 40,163 | $424K |
| New York State Common Retirement Fund | 0.00% | No change | 39,132 | $413K |
| Police & Firemen's Retirement System of New Jersey | 0.00% | No change | 38,669 | $408K |
| Vanguard Investments Australia, Ltd. | 0.00% | — | 38,094 | $402K |
| Amalgamated Bank | 0.00% | Reduce -0.5% | 38,045 | $402K |
| Boothbay Fund Management, LLC | 0.01% | New | 37,073 | $391K |
| HighTower Advisors, LLC | 0.00% | Add +13.9% | 36,951 | $390K |
| Arizona State Retirement System | 0.00% | Reduce -1.4% | 36,256 | $383K |
| Yousif Capital Management, LLC | 0.00% | Reduce -0.2% | 34,941 | $369K |
| Mercer Global Advisors Inc. | 0.00% | Reduce -25.0% | 34,718 | $367K |
| One Wealth Map LLC | 0.17% | No change | 31,860 | $352K |
| Teachers Retirement System of the State of Kentucky | 0.00% | No change | 32,739 | $346K |
| Beacon Pointe Advisors, LLC | 0.00% | Add +41.9% | 32,691 | $345K |
| Commonwealth of Pennsylvania Public School Empls Retrmt SYS | 0.00% | Add +0.4% | 32,451 | $343K |
| Private Advisor Group, LLC | 0.00% | Reduce -2.0% | 31,773 | $336K |
| Cerity Partners LLC | 0.00% | Add +19.4% | 31,069 | $328K |
| BNP Paribas Financial Markets | 0.00% | Reduce -1.7% | 30,897 | $326K |
| Oregon Public Employees Retirement Fund | 0.00% | Add +0.3% | 30,015 | $317K |
| Nisa Investment Advisors, LLC | 0.00% | Add +100.4% | 27,913 | $303K |
| KLP Kapitalforvaltning As | 0.00% | No change | 28,000 | $302K |
| Natixis Advisors, LLC | 0.00% | New | 27,583 | $291K |
| Barclays PLC | 0.00% | Reduce -87.9% | 26,404 | $279K |
| Caxton Associates LLP | 0.01% | Reduce -72.7% | 25,773 | $272K |
| Voya Investment Management LLC | 0.00% | Reduce -1.8% | 25,763 | $272K |
| North Ground Capital | 0.32% | Reduce -58.3% | 25,000 | $264K |
| STRS Ohio | 0.00% | Reduce -4.3% | 24,300 | $257K |
| Parallax Volatility Advisers, L.P. | 0.01% | New | 22,968 | $253K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 23,479 | $248K |
| Empowered Funds, LLC | 0.00% | New | 23,238 | $245K |
| PNC Financial Services Group, Inc. | 0.00% | Reduce -3.4% | 22,407 | $237K |
| WINTON GROUP Ltd | 0.01% | Reduce -41.9% | 22,218 | $235K |
| Commonwealth Equity Services, LLC | 0.00% | Reduce -4.3% | 22,150 | $234K |
| ProShare Advisors LLC | 0.00% | Reduce -20.0% | 21,654 | $229K |
| Citigroup Inc. | 0.00% | Reduce -65.2% | 20,324 | $215K |
| Farther Finance Advisors, LLC | 0.00% | Add +284.6% | 19,373 | $204K |
| Cwm, LLC | 0.00% | Add +8.9% | 19,300 | $204K |
| Maryland State Retirement & Pension System | 0.00% | No change | 18,952 | $200K |
| Pictet Asset Management Holding SA | 0.00% | Add +36.6% | 18,906 | $200K |
| FMR LLC | 0.00% | Reduce -0.3% | 18,096 | $191K |
| Russell Investments Group, Ltd. | 0.00% | Reduce -52.2% | 17,398 | $184K |
| Creative Planning | 0.00% | Reduce -13.9% | 17,170 | $181K |
| Envestnet Asset Management Inc. | 0.00% | Reduce -11.1% | 17,084 | $180K |
| Chiron Capital Management, LLC | 0.18% | — | 16,920 | $179K |
| Ieq Capital, LLC | 0.00% | Reduce -73.8% | 16,351 | $173K |
| Global Assets Advisory, LLC | 0.05% | Reduce -6.4% | 16,128 | $170K |
| Diversify Wealth Management, LLC | 0.00% | Add +1.6% | 15,234 | $164K |
| Mutual of America Capital Management LLC | 0.00% | Add +0.6% | 15,017 | $159K |
| Teacher Retirement System of Texas | 0.00% | New | 13,825 | $146K |
| Optiver Holding B.V. | 0.01% | Add +3473.7% | 13,330 | $141K |
| State of Wisconsin Investment Board | 0.00% | New | 12,936 | $137K |
| Xponance LLC | 0.00% | Add +16.8% | 12,781 | $135K |
| CIBC Asset Management Inc | 0.00% | Reduce -2.3% | 12,735 | $134K |
| DRW Securities, LLC | 0.01% | New | 12,655 | $134K |
| Pathstone Holdings, LLC | 0.00% | Reduce -5.4% | 12,469 | $132K |
| KBC Group NV | 0.00% | Add +53.1% | 12,393 | $131K |
| Crossmark Global Holdings, Inc. | 0.00% | No change | 12,370 | $131K |
| Abel Hall, LLC | 0.03% | Reduce -0.1% | 11,982 | $127K |
| Ameritas Investment Partners, Inc. | 0.00% | No change | 11,675 | $123K |
| Independent Financial Group, LLC | 0.00% | Reduce -3.3% | 11,650 | $123K |
| Franklin Resources Inc. | 0.00% | Reduce -23.9% | 11,591 | $122K |
| Accuvest Global Advisors | 0.11% | Reduce -33.9% | 11,219 | $118K |
| Bartlett & Co. Wealth Management LLC | 0.00% | No change | 10,625 | $117K |
| Neuberger Berman Group LLC | 0.00% | Reduce -7.4% | 10,666 | $113K |
| Longboard Asset Management, LP | 1.92% | Reduce -52.0% | 10,532 | $111K |
| Anfield Capital Management, LLC | 0.03% | Reduce -1.0% | 10,362 | $109K |
| Mutual Advisors, LLC | 0.00% | Add +2.5% | 10,343 | $109K |
| Landscape Capital Management, L.L.C. | 0.01% | Reduce -19.6% | 10,326 | $109K |
| Tower Research Capital LLC (TRC) | 0.00% | Add +67.9% | 10,262 | $108K |
| Legacy Financial Strategies, LLC | 0.02% | Reduce -12.8% | 10,200 | $108K |
| MML Investors Services, LLC | 0.00% | Reduce -7.6% | 10,035 | $106K |
| Resources Management Corp. /CT/ | 0.01% | Add +28.6% | 8,618 | $91K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +3.6% | 8,026 | $85K |
| Wealth Enhancement Trust Services, Inc. | 0.01% | No change | 7,660 | $81K |
| Ensign Peak Advisors, Inc | 0.00% | No change | 6,015 | $64K |
| Pinnacle Wealth Planning Services, Inc. | 0.01% | Add +2.4% | 5,747 | $61K |
| Parallel Advisors, LLC | 0.00% | Add +61.7% | 4,656 | $49K |
| Signaturefd, LLC | 0.00% | Add +4.1% | 4,656 | $49K |
| NewEdge Advisors, LLC | 0.00% | Reduce -0.7% | 4,572 | $48K |
| Osbon Capital Management LLC | 0.04% | New | 4,355 | $46K |
| Advisory Services Network, LLC | 0.00% | New | 4,252 | $45K |
| Public Employees Retirement System of Ohio | 0.00% | Add +2.6% | 4,181 | $44K |
| GAMMA Investing LLC | 0.00% | Add +34.5% | 3,808 | $40K |
| Smartleaf Asset Management LLC | 0.00% | Reduce -50.1% | 3,725 | $39K |
| Bessemer Group Inc. | 0.00% | Add +388.7% | 3,255 | $34K |
| Sterling Capital Management LLC | 0.00% | Reduce -38.1% | 2,804 | $30K |
| Versant Capital Management, Inc | 0.00% | No change | 2,418 | $26K |
| Freestone Grove Partners LP | 0.00% | New | 2,371 | $25K |
| Nomura Asset Management Co. Ltd. | 0.00% | No change | 2,100 | $22K |
| US Bancorp \de | 0.00% | Reduce -16.7% | 2,056 | $22K |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.00% | Add +15.2% | 2,020 | $21K |
| Community Bank, N.A. | 0.00% | No change | 2,000 | $21K |
| Allworth Financial LP | 0.00% | Add +6.4% | 1,872 | $20K |
| Basecamp Wealth Advisors LLC | 0.00% | Reduce -4.6% | 1,692 | $18K |
| Salomon & Ludwin, LLC | 0.00% | Add +53.9% | 1,679 | $18K |
| Fourth Dimension Wealth, LLC | 0.01% | No change | 1,400 | $15K |
| Cypress Capital Management LLC (WY) | 0.01% | No change | 1,233 | $13K |
| Tradewinds Capital Management, LLC | 0.00% | Add +2.4% | 1,175 | $12K |
| Harbour Investments, Inc. | 0.00% | Add +293.1% | 1,018 | $11K |
| Steward Partners Investment Advisory, LLC | 0.00% | Reduce -90.4% | 1,000 | $11K |
| UMB Bank, n.a. | 0.00% | Add +2.6% | 948 | $10K |
| Hantz Financial Services, Inc. | 0.00% | Add +31.4% | 972 | $10K |
| Byrne Asset Management LLC | 0.01% | No change | 850 | $9K |
| Huntington National Bank | 0.00% | No change | 710 | $7K |
| Los Angeles Capital Management LLC | 0.00% | No change | 709 | $7K |
| Heritage Wealth Advisors | 0.00% | No change | 700 | $7K |
| Sound Income Strategies, LLC | 0.00% | No change | 691 | $7K |
| Federation des caisses Desjardins du Quebec | 0.00% | No change | 600 | $6K |
| Harbor Capital Advisors, Inc. | 0.00% | Add +17.8% | 564 | $6K |
| Fifth Third Bancorp | 0.00% | Add +59.9% | 542 | $6K |
| Thompson Investment Management, Inc. | 0.00% | No change | 500 | $5K |
| Essential Partners LLC | 0.00% | Reduce -21.9% | 471 | $5K |
| IFP Advisors, Inc | 0.00% | Reduce -2.3% | 471 | $5K |
| C M Bidwell & Associates Ltd. | 0.00% | No change | 459 | $5K |
| Lanark Financial, Inc. | 0.00% | Add +2.5% | 411 | $4K |
| Assetmark, Inc. | 0.00% | No change | 411 | $4K |
| Bokf, NA | 0.00% | New | 395 | $4K |
| Root Financial Partners, LLC | 0.00% | New | 326 | $3K |
| Quadrant Capital Group LLC | 0.00% | No change | 298 | $3K |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | No change | 298 | $3K |
| Rothschild Investment LLC | 0.00% | Add +15.6% | 281 | $3K |
| Twin Peaks Wealth Advisors, LLC | 0.00% | New | 279 | $3K |
| MAI Capital Management | 0.00% | Add +113.4% | 271 | $3K |
| Synergy Investment Management, LLC | 0.00% | New | 244 | $3K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | No change | 242 | $3K |
| Bell Investment Advisors, Inc | 0.00% | Reduce -10.4% | 232 | $2K |
| Danske Bank A/S | 0.00% | Reduce -95.9% | 200 | $2K |
| Geneos Wealth Management Inc. | 0.00% | No change | 200 | $2K |
| Jones Financial Companies LLLP | 0.00% | Reduce -49.0% | 172 | $2K |
| Larson Financial Group LLC | 0.00% | Add +24.3% | 169 | $2K |
| Parkside Financial Bank & Trust | 0.00% | No change | 162 | $2K |
| Ares Financial Consulting, LLC | 0.00% | No change | 112 | $1K |
| Keating Financial Advisory Services, Inc. | 0.00% | New | 103 | $1K |
| Farmers & Merchants Investments Inc. | 0.00% | No change | 97 | $1K |
| First Horizon Corp. | 0.00% | No change | 83 | $876 |
| Blue Trust, Inc. | 0.00% | No change | 62 | $655 |
| Leonteq Securities AG | 0.00% | No change | 58 | $612 |
| Ascentis Independent Advisors | 0.00% | New | 47 | $505 |
| True Wealth Design, LLC | 0.00% | Reduce -70.3% | 47 | $497 |
| Financial Consulate, Inc. | 0.00% | No change | 46 | $486 |
| Crewe Advisors LLC | 0.00% | New | 43 | $455 |
| Bare Financial Services, Inc | 0.00% | New | 40 | $422 |
| Ankerstar Wealth, LLC | 0.00% | No change | 38 | $411 |
| Arax Advisory Partners | 0.00% | Reduce -92.5% | 32 | $338 |
| SJS Investment Consulting Inc. | 0.00% | No change | 31 | $328 |
| Gilpin Wealth Management, LLC | 0.00% | Add +130.0% | 23 | $243 |
| Silicon Valley Capital Partners | 0.00% | New | 7 | $74 |
| Kilter Group LLC | 0.00% | New | 6 | $64 |
| Sunbelt Securities, Inc. | 0.00% | No change | 5 | $53 |
| Dunhill Financial, LLC | 0.00% | Reduce -33.3% | 2 | $31 |
| Hughes Financial Services, LLC | 0.00% | New | 2 | $21 |
| POM Investment Strategies, LLC | 0.00% | No change | 1 | $11 |
| 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.