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ARI

Apollo Commercial Real Estate

262 hedge funds and large institutions have $810M invested in Apollo Commercial Real Estate in 2025 Q3 according to their latest regulatory filings, with 33 funds opening new positions, 103 increasing their positions, 71 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

57% more first-time investments, than exits

New positions opened: 33 | Existing positions closed: 21

45% more repeat investments, than reductions

Existing positions increased: 103 | Existing positions reduced: 71

6% more capital invested

Capital invested by funds: $767M → $810M (+$42.9M)

4% more funds holding

Funds holding: 253262 (+9)

0.52% more ownership

Funds ownership: 56.92%57.44% (+0.52%)

0% more funds holding in top 10

Funds holding in top 10: 11 (0)

6% less call options, than puts

Call options by funds: $2.18M | Put options by funds: $2.31M

Holders
262
Holders Change
+9
Holders Change %
+3.56%
% of All Funds
3.44%
Holding in Top 10
1
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.01%
New
33
Increased
103
Reduced
71
Closed
21
Calls
$2.18M
Puts
$2.31M
Net Calls
-$134K
Net Calls Change
+$9.21M
Name Holding Trade Value Shares
Change
Change in
Stake
CAU
76
Caxton Associates (UK)
$749K +$753K +73,909 New
NCM
77
Novare Capital Management
North Carolina
$736K +$223K +21,925 +43%
BI
78
Bramshill Investments
Florida
$709K -$17K -1,667 -2%
Cetera Investment Advisers
79
Cetera Investment Advisers
Illinois
$705K +$155K +15,176 +28%
YIH
80
Y-Intercept (HK)
Hong Kong
$699K +$375K +36,809 +114%
PI
81
PFG Investments
New York
$692K +$271K +26,560 +64%
WG
82
Winton Group
United Kingdom
$676K +$529K +51,864 +350%
SOADOR
83
State of Alaska Department of Revenue
Alaska
$665K -$106K -10,432 -14%
Bank of Montreal
84
Bank of Montreal
Ontario, Canada
$648K -$62.7K -6,155 -9%
IMRF
85
Illinois Municipal Retirement Fund
Illinois
$643K -$35.4K -3,471 -5%
Manulife (Manufacturers Life Insurance)
86
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$639K -$40K -3,922 -6%
LSERS
87
Louisiana State Employees Retirement System
Louisiana
$608K +$3.06K +300 +0.5%
TCM
88
Triumph Capital Management
Colorado
$603K +$48.5K +4,761 +9%
Janus Henderson Group
89
Janus Henderson Group
United Kingdom
$602K
Stifel Financial
90
Stifel Financial
Missouri
$593K +$58.6K +5,745 +11%
State Board of Administration of Florida Retirement System
91
State Board of Administration of Florida Retirement System
Florida
$580K
Two Sigma Advisers
92
Two Sigma Advisers
New York
$572K -$420K -41,200 -42%
State of Tennessee, Department of Treasury
93
State of Tennessee, Department of Treasury
Tennessee
$552K -$1.5K -147 -0.3%
IC
94
IEQ Capital
California
$541K +$341K +33,497 +169%
Royal Bank of Canada
95
Royal Bank of Canada
Ontario, Canada
$525K -$104K -10,232 -16%
SG Americas Securities
96
SG Americas Securities
New York
$520K +$207K +20,278 +65%
QCM
97
QRG Capital Management
Illinois
$512K -$284K -27,862 -36%
SOW
98
State of Wyoming
Wyoming
$496K +$81.7K +8,012 +20%
HWAM
99
Hennion & Walsh Asset Management
New Jersey
$475K +$478K +46,939 New
MA
100
MAS Advisors
Florida
$465K +$44.8K +4,396 +11%

ARI Hedge Fund Activity: Q3 2025 in Review

262 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Apollo Commercial Real Estate (ARI) for Q3 2025, worth a combined $810M — up 5.6% from $767M a quarter earlier.

Buyers outnumbered sellers: 33 funds opened new ARI positions and 21 closed out — a net gain of 12 holders — while 103 added to existing stakes and 71 trimmed.

The largest buyer was No Street GP LP, adding an estimated $7.64M. The largest seller was UBS AM, cutting an estimated $5.93M.

  • 262 institutional investors held Apollo Commercial Real Estate (ARI) as of Q3 2025, up from 253 in Q2 2025.
  • Funds reported $810M of Apollo Commercial Real Estate stock for Q3 2025, up 5.6% quarter-over-quarter.
  • 33 funds opened new Apollo Commercial Real Estate positions in Q3 2025 and 21 closed out, a net change of +12 holders.
  • The largest Apollo Commercial Real Estate buyer in Q3 2025 was No Street GP LP, an estimated $7.64M added.
  • The largest Apollo Commercial Real Estate seller in Q3 2025 was UBS AM, an estimated $5.93M sold.

Based on aggregated 13F filings for Q3 2025.