APARTMENT INVT & MGMT CO AIV
CL A · REIT · CUSIP 03748R747
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($517.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $8.78. Options: 3 managers hold calls ($2.6m notional), 3 hold puts ($360.8k).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 200 |
| Q4 2022 | 195 |
| Q1 2023 | 190 |
| Q2 2023 | 199 |
| Q3 2023 | 196 |
| Q4 2023 | 184 |
| Q1 2024 | 179 |
| Q2 2024 | 187 |
| Q3 2024 | 196 |
| Q4 2024 | 202 |
| Q1 2025 | 212 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 89 | 91 |
| Q3 2023 | 73 | 102 |
| Q4 2023 | 73 | 112 |
| Q1 2024 | 73 | 100 |
| Q2 2024 | 99 | 78 |
| Q3 2024 | 88 | 86 |
| Q4 2024 | 90 | 95 |
| Q1 2025 | 115 | 86 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $426.1k | $444.5k | 1.04 |
| Q3 2024 | $788.3k | $982.8k | 1.25 |
| Q4 2024 | $1.3m | $573.0k | 0.44 |
| Q1 2025 | $2.6m | $360.8k | 0.14 |
Biggest buyers
| AEW CAPITAL MANAGEMENT L P | New | +2.0m |
| Newtyn Management, LLC | Added | +1.2m |
| Irenic Capital Management LP | Added | +820.5k |
| Aryeh Capital Management Ltd. | New | +794.0k |
| Balyasny Asset Management L.P. | Added | +741.8k |
| LANDMARK INVESTMENT PARTNERS, L.P. | Added | +679.0k |
| SEI INVESTMENTS CO | New | +630.1k |
| Qube Research & Technologies Ltd | Added | +462.8k |
| MORGAN STANLEY | Added | +384.0k |
| BlackRock, Inc. | Added | +370.5k |
Biggest sellers
| V3 Capital Management, L.P. | Sold out | -3.7m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.4m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -654.6k |
| Crestline Management, L.P. | Sold out | -635.4k |
| BANK OF AMERICA CORP /DE/ | Reduced | -345.1k |
| JPMORGAN CHASE & CO | Reduced | -343.7k |
| Union Square Park Capital Management, LLC | Sold out | -300.0k |
| ExodusPoint Capital Management, LP | Sold out | -211.6k |
| Cubist Systematic Strategies, LLC | Sold out | -185.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -163.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.0m117.9k shares |
| CITADEL ADVISORS LLC | Added | $842.2k95.7k shares |
| JANE STREET GROUP, LLC | New | $674.1k76.6k shares |
Biggest puts
| GROUP ONE TRADING LLC | Reduced | $342.3k38.9k shares |
| CITADEL ADVISORS LLC | Reduced | $18.5k2.1k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Madison Avenue Partners, LP 13G · passive investor new · filed 2026-03-04 | 8.6% |
| Newtyn Management, LLC 13G · passive investor +2.6 pts · filed 2026-03-25 | 8.1% |
| Weiss Asset Management LP 13G · institution new · filed 2026-05-11 | 5.7% |
Fell to 5% or below in the last year: PRICE T ROWE ASSOCIATES INC /MD/ (3.5%, 2026-10-07), VANGUARD PORTFOLIO MANAGEMENT LLC (4.1%, 2026-07-31), BlackRock, Inc. (0.4%, 2026-04-27), VANGUARD GROUP INC (0.0%, 2026-03-26), Silver Point Capital L.P. (1.2%, 2026-02-17)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 19.3m $170.2m | Added +212.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 17.4m $153.4m | Reduced -163.2k |
| BlackRock, Inc. 0.00% of their portfolio | 14.9m $131.1m | Added +370.5k |
| STATE STREET CORP 0.00% of their portfolio | 6.0m $52.7m | Reduced -25.4k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 5.8m $50.7m | Reduced -1.4m |
| Newtyn Management, LLC 6.96% of their portfolio | 5.0m $44.0m | Added +1.2m |
| RUSH ISLAND MANAGEMENT, LP 2.68% of their portfolio | 4.8m $42.1m | Added +235.6k |
| Irenic Capital Management LP 6.18% of their portfolio | 4.6m $40.8m | Added +820.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 3.4m $29.8m | Added +76.3k |
| Land & Buildings Investment Management, LLC 5.85% of their portfolio | 3.1m $27.7m | Added +68.1k |
| T. Rowe Price Investment Management, Inc. 0.02% of their portfolio | 2.8m $24.3m | Reduced -122.8k |
| Argosy-Lionbridge Management, LLC 15.13% of their portfolio | 2.6m $22.7m | Added +242.6k |
| LANDMARK INVESTMENT PARTNERS, L.P. 5.64% of their portfolio | 2.0m $18.0m | Added +679.0k |
| AEW CAPITAL MANAGEMENT L P 0.86% of their portfolio | 2.0m $17.5m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.8m $16.1m | Reduced -17.9k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 1.7m $15.2m | Reduced -6.8k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.5m $13.4m | Reduced -33.3k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 1.5m $13.3m | Added +462.8k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 1.3m $11.7m | Added +741.8k |
| MORGAN STANLEY 0.00% of their portfolio | 1.2m $10.3m | Added +384.0k |
| DigitalBridge Group, Inc. 0.64% of their portfolio | 1.1m $7.9m | Reduced -90.7k |
| Man Group plc 0.03% of their portfolio | 1.0m $9.1m | Reduced -41.4k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 883.4k $7.8m | Added +314.2k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.13% of their portfolio | 879.2k $7.7m | Reduced -17.9k |
| Uniplan Investment Counsel, Inc. 0.75% of their portfolio | 877.9k $7.7m | Reduced -64.4k |
| Aryeh Capital Management Ltd. 4.99% of their portfolio | 794.0k $7.0m | New |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 760.6k $6.7m | Reduced -84.6k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 743.0k $6.5m | Added +357.5k |
| NORGES BANK 0.00% of their portfolio | 706.7k $6.2m | Added +80.6k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 630.1k $5.5m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 624.1k $5.5m | Reduced -343.7k |
| Western Standard LLC 3.20% of their portfolio | 618.4k $5.4m | Reduced -30.7k |
| SummitTX Capital, L.P. 0.23% of their portfolio | 586.7k $5.2m | First filing |
| Legal & General Group Plc 0.00% of their portfolio | 581.3k $5.1m | Reduced -4.4k |
| Nuveen, LLC 0.00% of their portfolio | 575.8k $5.1m | First filing |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 529.6k $4.7m | Reduced -126.7k |
| Meros Investment Management, LP 2.71% of their portfolio | 525.4k $4.6m | Reduced -127.9k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 482.1k $4.2m | Reduced -277 |
| BARCLAYS PLC 0.00% of their portfolio | 418.6k $3.7m | Reduced -158.7k |
| LPL Financial LLC 0.00% of their portfolio | 323.8k $2.8m | New |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 313.2k $2.8m | Unchanged |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 308.2k $2.7m | Added +15.9k |
| Anson Funds Management LP 0.61% of their portfolio | 293.4k $2.6m | New |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 286.2k $2.5m | Added +275.9k |
| Invesco Ltd. 0.00% of their portfolio | 278.4k $2.4m | Added +2.0k |
| Beverly Hills Private Wealth, LLC 0.48% of their portfolio | 275.6k $2.4m | Added +20.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 267.9k $2.4m | Reduced -53.5k |
| Swiss National Bank 0.00% of their portfolio | 260.0k $2.3m | Added +9.3k |
| Quinn Opportunity Partners LLC 0.16% of their portfolio | 251.2k $2.2m | Unchanged |
| Bleakley Financial Group, LLC 0.07% of their portfolio | 250.7k $2.2m | Added +105.8k |
| Vision Capital Corp 1.04% of their portfolio | 248.8k $2.2m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 248.1k $2.2m | Reduced -345.1k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 234.8k $2.1m | Reduced -6.1k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 216.8k $1.9m | Added +4.1k |
| Asset Management One Co., Ltd. 0.01% of their portfolio | 190.8k $1.7m | Unchanged |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 185.1k $1.6m | Added +24.1k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 182.7k $1.6m | Reduced -1.3k |
| PRELUDE CAPITAL MANAGEMENT, LLC 0.16% of their portfolio | 180.3k $1.6m | Reduced -31.7k |
| Alpha Wave Global, LP 0.70% of their portfolio | 178.0k $1.6m | New |
| NOMURA ASSET MANAGEMENT CO LTD 0.00% of their portfolio | 176.7k $1.6m | Added +9.9k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 175.0k $1.5m | Added +57 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 171.8k $1.5m | Reduced -654.6k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 168.5k $1.5m | Added +46.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 167.8k $1.5m | Added +105.8k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 167.5k $1.5m | Added +99.4k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 166.7k $1.5m | New |
| SAYBROOK CAPITAL /NC 0.39% of their portfolio | 159.5k $1.4m | Added +4.0k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 156.6k $1.4m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 148.5k $1.3m | Added +28.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio | 142.5k $1.3m | Reduced -2.1k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 138.8k $1.2m | Added +10.0k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 129.3k $1.1m | Added +2.0k |
| CITIGROUP INC 0.00% of their portfolio | 126.8k $1.1m | Added +2.6k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 111.5k $979.5k | Reduced -2.3k |
| CALDWELL SUTTER CAPITAL, INC. 0.44% of their portfolio | 104.8k $922.2k | Added +5.0k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 102.8k $904.5k | Added +25.5k |
| INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 89.8k $790.6k | Added +26.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 88.2k $776.3k | Unchanged |
| NATIXIS ADVISORS, LLC 0.00% of their portfolio | 86.5k $761.0k | New |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 82.7k $727.7k | Added +3.6k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 81.3k $715.5k | Reduced -5.7k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 75.6k $665.4k | Added +1.7k |
| Amundi 0.00% of their portfolio | 75.6k $637.0k | Added +490 |
| Allianz Asset Management GmbH 0.00% of their portfolio | 74.9k $658.8k | New |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 74.8k $658.7k | Added +29.9k |
| UBS Group AG 0.00% of their portfolio | 72.7k $639.7k | Reduced -28.9k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 0.01% of their portfolio | 71.0k $624.9k | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 69.4k $610.8k | Reduced -507 |
| Corebridge Financial, Inc. 0.00% of their portfolio | 68.1k $599.7k | Reduced -1.0k |
| State of Alaska, Department of Revenue 0.01% of their portfolio | 66.8k $587.0k | Added +150 |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 66.0k $581.0k | Added +311 |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 65.8k $576.3k | Unchanged |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 64.4k $567.1k | Unchanged |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 64.3k $565.8k | Added +37.4k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.01% of their portfolio | 64.1k $563.7k | Added +15.7k |
| AlphaQuest LLC 0.06% of their portfolio | 57.8k $508.2k | Reduced -5.0k |
| Resona Asset Management Co.,Ltd. 0.00% of their portfolio | 56.5k $494.2k | Added +5.0k |
| Handelsbanken Fonder AB 0.00% of their portfolio | 54.9k $484.0k | Unchanged |
| Diametric Capital, LP 0.55% of their portfolio | 53.0k $466.5k | New |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 52.5k $462.4k | Added +2.7k |