Apollo Commercial Real Estate
ARI
253 hedge funds and large institutions have $767M invested in Apollo Commercial Real Estate in 2025 Q2 according to their latest regulatory filings, with 31 funds opening new positions, 94 increasing their positions, 78 reducing their positions, and 26 closing their positions.
21% more repeat investments, than reductions
Existing positions increased: 94 | Existing positions reduced: 78
19% more first-time investments, than exits
New positions opened: 31 | Existing positions closed: 26
2% more funds holding
Funds holding: 249 → 253 (+4)
0% more capital invested
Capital invested by funds: $766M → $767M (+$680K)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
0.64% less ownership
Funds ownership: 57.56% → 56.92% (-0.64%)
81% less call options, than puts
Call options by funds: $2.19M | Put options by funds: $11.5M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NSGL
No Street GP LP
San Francisco,
California
|
+$21.2M |
| 2 |
EP
Edgestream Partners
Princeton,
New Jersey
|
+$5.18M |
| 3 |
Victory Capital Management
San Antonio,
Texas
|
+$4.1M |
| 4 |
Invesco
Atlanta,
Georgia
|
+$4.07M |
| 5 |
UBS AM
Chicago,
Illinois
|
+$3.49M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Nomura Holdings
Tokyo,
Japan
|
-$25.9M |
| 2 |
Balyasny Asset Management
Chicago,
Illinois
|
-$9.18M |
| 3 |
BlackRock
New York
|
-$8.54M |
| 4 |
Jane Street
New York
|
-$4.3M |
| 5 |
Renaissance Technologies
New York
|
-$3.12M |
ARI Hedge Fund Activity: Q2 2025 in Review
253 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Apollo Commercial Real Estate (ARI) for Q2 2025, worth a combined $767M — up 0.09% from $766M a quarter earlier.
Buyers outnumbered sellers: 31 funds opened new ARI positions and 26 closed out — a net gain of 5 holders — while 94 added to existing stakes and 78 trimmed.
The largest buyer was No Street GP LP, opening a new position worth an estimated $21.2M. The largest seller was Nomura Holdings, cutting an estimated $25.9M.
- 253 institutional investors held Apollo Commercial Real Estate (ARI) as of Q2 2025, up from 249 in Q1 2025.
- Funds reported $767M of Apollo Commercial Real Estate stock for Q2 2025, up 0.09% quarter-over-quarter.
- 31 funds opened new Apollo Commercial Real Estate positions in Q2 2025 and 26 closed out, a net change of +5 holders.
- The largest Apollo Commercial Real Estate buyer in Q2 2025 was No Street GP LP, an estimated $21.2M added.
- The largest Apollo Commercial Real Estate seller in Q2 2025 was Nomura Holdings, an estimated $25.9M sold.
Based on aggregated 13F filings for Q2 2025.