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 ($629.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $8.64. Options: 3 managers hold calls ($2.9m notional), 5 hold puts ($736.4k).
Trends to Q2 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 |
| Q2 2025 | 211 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 97 | 107 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $788.3k | $982.8k | 1.25 |
| Q4 2024 | $1.3m | $573.0k | 0.44 |
| Q1 2025 | $2.6m | $360.8k | 0.14 |
| Q2 2025 | $2.9m | $736.4k | 0.25 |
Biggest buyers
| Long Pond Capital, LP | New | +1.7m |
| Madison Avenue Partners, LP | New | +1.5m |
| J. Goldman & Co LP | New | +822.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +803.2k |
| THOMPSON SIEGEL & WALMSLEY LLC | Added | +516.1k |
| Western Standard LLC | Added | +440.8k |
| Vision Capital Corp | Added | +375.3k |
| VIRGINIA RETIREMENT SYSTEMS ET Al | New | +308.0k |
| CANTOR FITZGERALD, L. P. | Added | +265.0k |
| Irenic Capital Management LP | Added | +253.3k |
Biggest sellers
| Land & Buildings Investment Management, LLC | Sold out | -3.1m |
| Balyasny Asset Management L.P. | Sold out | -1.3m |
| BlackRock, Inc. | Reduced | -535.5k |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -409.3k |
| D. E. Shaw & Co., Inc. | Reduced | -316.3k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC | Sold out | -313.2k |
| AEW CAPITAL MANAGEMENT L P | Reduced | -291.1k |
| Qube Research & Technologies Ltd | Reduced | -285.7k |
| GOLDMAN SACHS GROUP INC | Reduced | -198.4k |
| CITADEL ADVISORS LLC | Sold out | -168.5k |
Biggest calls
| LANDMARK INVESTMENT PARTNERS, L.P. | New | $2.5m288.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $314.9k36.4k shares |
| CITADEL ADVISORS LLC | Reduced | $115.9k13.4k shares |
Biggest puts
| GROUP ONE TRADING LLC | Added | $442.9k51.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $265.6k30.7k shares |
| SIMPLEX TRADING, LLC | New | $15.0k1.8k shares |
| Walleye Trading LLC | New | $13.0k1.5k 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 Q2 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 Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 19.3m $166.8m | Reduced -61.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 17.4m $150.7m | Reduced -7.5k |
| BlackRock, Inc. 0.00% of their portfolio | 14.4m $124.2m | Reduced -535.5k |
| STATE STREET CORP 0.00% of their portfolio | 6.0m $52.0m | Added +21.1k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 5.7m $49.7m | Reduced -16.3k |
| Newtyn Management, LLC 6.80% of their portfolio | 5.2m $44.9m | Added +190.5k |
| Irenic Capital Management LP 9.30% of their portfolio | 4.9m $42.3m | Added +253.3k |
| RUSH ISLAND MANAGEMENT, LP 2.69% of their portfolio | 4.8m $41.3m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 3.3m $28.4m | Reduced -103.4k |
| Argosy-Lionbridge Management, LLC 16.10% of their portfolio | 2.7m $23.3m | Added +115.0k |
| T. Rowe Price Investment Management, Inc. 0.01% of their portfolio | 2.7m $22.9m | Reduced -113.1k |
| LANDMARK INVESTMENT PARTNERS, L.P. 7.46% of their portfolio | 1.9m $16.6m | Reduced -123.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.8m $15.7m | Reduced -19.5k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 1.8m $15.4m | Added +50.5k |
| Long Pond Capital, LP 0.97% of their portfolio | 1.7m $14.7m | New |
| AEW CAPITAL MANAGEMENT L P 0.77% of their portfolio | 1.7m $14.7m | Reduced -291.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.5m $12.9m | Reduced -27.0k |
| Madison Avenue Partners, LP 0.85% of their portfolio | 1.5m $12.7m | New |
| THOMPSON SIEGEL & WALMSLEY LLC 0.20% of their portfolio | 1.4m $12.1m | Added +516.1k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 1.2m $10.6m | Reduced -285.7k |
| MORGAN STANLEY 0.00% of their portfolio | 1.2m $10.4m | Added +36.3k |
| Western Standard LLC 5.10% of their portfolio | 1.1m $9.2m | Added +440.8k |
| Man Group plc 0.02% of their portfolio | 1.1m $9.2m | Added +21.3k |
| DigitalBridge Group, Inc. 0.72% of their portfolio | 1.0m $7.2m | Reduced -80.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 975.0k $8.4m | Added +803.2k |
| Aryeh Capital Management Ltd. 6.27% of their portfolio | 926.1k $8.0m | Added +132.1k |
| Uniplan Investment Counsel, Inc. 0.76% of their portfolio | 863.4k $7.5m | Reduced -14.4k |
| J. Goldman & Co LP 0.22% of their portfolio | 822.7k $7.1m | New |
| SummitTX Capital, L.P. 0.29% of their portfolio | 768.8k $6.6m | Added +182.1k |
| NORGES BANK 0.00% of their portfolio | 740.5k $6.4m | Added +33.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 738.2k $6.4m | Reduced -22.4k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 649.7k $5.6m | Added +19.5k |
| Legal & General Group Plc 0.00% of their portfolio | 638.4k $5.5m | Added +57.1k |
| Vision Capital Corp 2.41% of their portfolio | 624.0k $5.4m | Added +375.3k |
| Meros Investment Management, LP 2.55% of their portfolio | 621.1k $5.4m | Added +95.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 526.7k $4.6m | Added +44.7k |
| BARCLAYS PLC 0.00% of their portfolio | 482.9k $4.2m | Added +64.3k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 475.9k $4.1m | Reduced -148.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 474.2k $4.1m | Reduced -409.3k |
| LPL Financial LLC 0.00% of their portfolio | 474.0k $4.1m | Added +150.3k |
| Nuveen, LLC 0.00% of their portfolio | 471.8k $4.1m | Reduced -104.0k |
| Quinn Opportunity Partners LLC 0.35% of their portfolio | 468.0k $4.0m | Added +216.8k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 426.7k $3.7m | Reduced -316.3k |
| Anson Funds Management LP 0.66% of their portfolio | 415.2k $3.6m | Added +121.8k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 378.0k $3.3m | Added +69.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 352.6k $3.1m | Added +84.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 331.3k $2.9m | Reduced -198.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 329.4k $2.8m | Added +81.2k |
| Alpha Wave Global, LP 0.30% of their portfolio | 323.6k $2.8m | Added +145.6k |
| Bleakley Financial Group, LLC 0.07% of their portfolio | 320.8k $2.8m | Added +70.1k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.02% of their portfolio | 308.0k $2.7m | New |
| Beverly Hills Private Wealth, LLC 0.49% of their portfolio | 300.0k $2.6m | Added +24.4k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 293.3k $2.5m | Added +7.1k |
| CANTOR FITZGERALD, L. P. 0.06% of their portfolio | 275.0k $2.4m | Added +265.0k |
| Invesco Ltd. 0.00% of their portfolio | 272.1k $2.4m | Reduced -6.3k |
| TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio | 260.1k $2.2m | Added +185.2k |
| Swiss National Bank 0.00% of their portfolio | 257.7k $2.2m | Reduced -2.3k |
| UBS Group AG 0.00% of their portfolio | 256.3k $2.2m | Added +183.6k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 253.6k $2.2m | Added +18.8k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.00% of their portfolio | 250.0k $2.2m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 209.3k $1.8m | Added +41.5k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 206.7k $1.8m | Added +21.5k |
| Asset Management One Co., Ltd. 0.01% of their portfolio | 189.9k $1.6m | Reduced -914 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 185.7k $1.6m | Added +3.1k |
| NOMURA ASSET MANAGEMENT CO LTD 0.00% of their portfolio | 185.2k $1.6m | Added +8.5k |
| SAYBROOK CAPITAL /NC 0.45% of their portfolio | 183.5k $1.6m | Added +24.0k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 176.9k $1.5m | Added +9.4k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 171.5k $1.5m | Added +60.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 164.2k $1.4m | Reduced -10.8k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 160.1k $1.4m | Added +152.8k |
| Squarepoint Ops LLC 0.00% of their portfolio | 157.9k $1.4m | Added +116.1k |
| PRELUDE CAPITAL MANAGEMENT, LLC 0.13% of their portfolio | 156.5k $1.4m | Reduced -23.8k |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 149.5k $1.3m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 146.4k $1.3m | Reduced -2.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio | 140.0k $1.2m | Reduced -2.5k |
| State of New Jersey Common Pension Fund D 0.00% of their portfolio | 138.8k $1.2m | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 130.3k $1.1m | Added +3.5k |
| Y-Intercept (Hong Kong) Ltd 0.03% of their portfolio | 124.9k $1.1m | New |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 122.3k $1.1m | Reduced -44.4k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 119.0k $1.0m | Added +16.2k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 109.9k $950.2k | Added +34.2k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 105.4k $928.2k | Reduced -111.4k |
| CALDWELL SUTTER CAPITAL, INC. 0.41% of their portfolio | 103.4k $894.0k | Reduced -1.4k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 101.5k $878.0k | Reduced -27.8k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 88.2k $763.1k | Unchanged |
| NATIXIS ADVISORS, LLC 0.00% of their portfolio | 85.5k $740.0k | Reduced -937 |
| MetLife Investment Management, LLC 0.00% of their portfolio | 81.1k $701.9k | Reduced -161 |
| INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 76.7k $663.2k | Reduced -13.2k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 0.01% of their portfolio | 76.0k $657.6k | Added +5.0k |
| Allianz Asset Management GmbH 0.00% of their portfolio | 73.1k $632.3k | Reduced -1.8k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 72.4k $626.1k | Reduced -10.3k |
| AlphaQuest LLC 0.06% of their portfolio | 67.9k $587.2k | Added +10.1k |
| Amundi 0.00% of their portfolio | 67.2k $589.6k | Reduced -8.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 66.9k $578.6k | Reduced -2.5k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 65.8k $569.1k | Unchanged |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 65.8k $569.0k | Reduced -248 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 64.4k $557.4k | Unchanged |
| State of Alaska, Department of Revenue 0.01% of their portfolio | 64.0k $553.0k | Reduced -2.8k |
| Campbell & CO Investment Adviser LLC 0.03% of their portfolio | 63.1k $545.7k | Added +14.2k |
| Verition Fund Management LLC 0.00% of their portfolio | 62.2k $538.0k | Added +28.8k |