Vault-13

APARTMENT INVT & MGMT CO AIV

CL A · REIT · CUSIP 03748R747

213 institutional holders +2 vs Q2 2025
125,039,114125.0m shares reported held*
$991.5mreported value*
41 new 75 added 58 reduced 39 sold out net sold ≈ $34.0m (-4.5m shares)

* 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 ($335.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $7.93. Options: 7 managers hold calls ($53.6m notional), 7 hold puts ($29.5m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 200Q4 22: 195Q1 23: 190Q2 23: 199Q3 23: 196Q4 23: 184Q1 24: 179Q2 24: 187Q3 24: 196Q4 24: 202Q1 25: 212Q2 25: 211Q3 25: 213213Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022200
Q4 2022195
Q1 2023190
Q2 2023199
Q3 2023196
Q4 2023184
Q1 2024179
Q2 2024187
Q3 2024196
Q4 2024202
Q1 2025212
Q2 2025211
Q3 2025213

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 23: 73 bought or addedQ4 23: 112 cut or sold outQ1 24: 73 bought or addedQ1 24: 100 cut or sold outQ1 24Q2 24: 99 bought or addedQ2 24: 78 cut or sold outQ3 24: 88 bought or addedQ3 24: 86 cut or sold outQ3 24Q4 24: 90 bought or addedQ4 24: 95 cut or sold outQ1 25: 115 bought or addedQ1 25: 86 cut or sold outQ1 25Q2 25: 97 bought or addedQ2 25: 107 cut or sold outQ3 25: 116 bought or addedQ3 25: 97 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 202373112
Q1 202473100
Q2 20249978
Q3 20248886
Q4 20249095
Q1 202511586
Q2 202597107
Q3 202511697

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60mQ4 24 calls: $1.3mQ4 24 puts: $573.0kQ4 24P/C 0.44Q1 25 calls: $2.6mQ1 25 puts: $360.8kQ1 25P/C 0.14Q2 25 calls: $2.9mQ2 25 puts: $736.4kQ2 25P/C 0.25Q3 25 calls: $53.6mQ3 25 puts: $29.5mQ3 25P/C 0.55
Numbers
QuarterCallsPutsP/C
Q4 2024$1.3m$573.0k0.44
Q1 2025$2.6m$360.8k0.14
Q2 2025$2.9m$736.4k0.25
Q3 2025$53.6m$29.5m0.55

Biggest buyers

GOLDMAN SACHS GROUP INC Added +5,265,749+5.3m
Ursa Fund Management, LLC New +3,100,000+3.1m
Newtyn Management, LLC Added +2,571,374+2.6m
Madison Avenue Partners, LP Added +2,143,488+2.1m
MORGAN STANLEY Added +1,497,133+1.5m
JPMORGAN CHASE & CO Added +857,392+857.4k
RENAISSANCE TECHNOLOGIES LLC Added +849,000+849.0k
LMR Partners LLP New +807,439+807.4k
CITADEL ADVISORS LLC New +628,394+628.4k
Schonfeld Strategic Advisors LLC New +576,338+576.3k

Biggest sellers

Irenic Capital Management LP Sold out -4,886,442-4.9m
RUSH ISLAND MANAGEMENT, LP Sold out -4,779,357-4.8m
T. Rowe Price Investment Management, Inc. Sold out -2,651,697-2.7m
Long Pond Capital, LP Sold out -1,697,757-1.7m
AEW CAPITAL MANAGEMENT L P Reduced -1,640,890-1.6m
MILLENNIUM MANAGEMENT LLC Reduced -1,308,311-1.3m
LANDMARK INVESTMENT PARTNERS, L.P. Reduced -1,061,301-1.1m
Western Standard LLC Sold out -1,059,156-1.1m
DigitalBridge Group, Inc. Sold out -1,044,753-1.0m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sold out -974,983-975.0k

Biggest calls

TORNO CAPITAL, LLC Not comparable $31.7m4.0m shares
J. Goldman & Co LP New $14.9m1.9m shares
LANDMARK INVESTMENT PARTNERS, L.P. Added $4.1m518.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.4m179.5k shares
CITADEL ADVISORS LLC Added $805.7k101.6k shares
CANTOR FITZGERALD, L. P. New $594.8k75.0k shares
Centiva Capital, LP New $30.1k3.8k shares

Biggest puts

Ursa Fund Management, LLC New $15.9m2.0m shares
Centiva Capital, LP New $6.0m752.0k shares
CITADEL ADVISORS LLC New $5.9m739.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $830.3k104.7k shares
GROUP ONE TRADING LLC Added $418.7k52.8k shares
SIMPLEX TRADING, LLC Added $319.0k40.3k shares
Walleye Trading LLC Added $206.2k26.0k 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.

HolderStakeChangeShares Last filed
Madison Avenue Partners, LP 13G · passive investor new · filed 2026-03-04 8.6% new 12.3m≈ $36.7m 2026-03-04
Newtyn Management, LLC 13G · passive investor +2.6 pts · filed 2026-03-25 8.1% +2.6 pts 11.6m≈ $34.5m 2026-03-25
Weiss Asset Management LP 13G · institution new · filed 2026-05-11 5.7% new 8.2m≈ $24.2m 2026-05-11

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 Q3 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 Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 19,156,66619.2m $151.9m $151.9m 0.00% Reduced -122.8k -122,793
2 PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio BALTIMORE, MD 17,296,36617.3m $137.2m $137.2m 0.01% Reduced -127.8k -127,829
3 BlackRock, Inc. 0.00% of their portfolio New York, NY 14,041,91114.0m $111.4m $111.4m 0.00% Reduced -319.7k -319,692
4 Newtyn Management, LLC 7.53% of their portfolio NEW YORK, NY 7,761,8467.8m $61.6m $61.6m 7.53% Added +2.6m +2,571,374
5 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 5,865,1595.9m $46.5m $46.5m 0.00% Reduced -144.0k -144,042
6 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 5,597,0065.6m $44.4m $44.4m 0.01% Added +5.3m +5,265,749
7 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 4,440,8854.4m $35.2m $35.2m 0.03% Reduced -1.3m -1,308,311
8 Madison Avenue Partners, LP 1.71% of their portfolio NEW YORK, NY 3,617,3143.6m $28.7m $28.7m 1.71% Added +2.1m +2,143,488
9 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 3,329,6293.3m $26.4m $26.4m 0.00% Added +46.3k +46,252
10 Ursa Fund Management, LLC 47.64% of their portfolio Danville, CA 3,100,0003.1m $24.6m $24.6m 47.64% New
11 Argosy-Lionbridge Management, LLC 15.19% of their portfolio WAYNE, PA 2,913,1342.9m $23.1m $23.1m 15.19% Added +220.5k +220,481
12 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,698,5332.7m $21.4m $21.4m 0.00% Added +1.5m +1,497,133
13 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 1,909,8941.9m $15.1m $15.1m 0.00% Added +95.6k +95,641
14 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 1,883,4191.9m $14.9m $14.9m 0.00% Added +102.5k +102,509
15 THOMPSON SIEGEL & WALMSLEY LLC 0.23% of their portfolio RICHMOND, VA 1,806,1171.8m $14.3m $14.3m 0.23% Added +410.8k +410,808
16 Qube Research & Technologies Ltd 0.02% of their portfolio LONDON, X0 1,580,1311.6m $12.5m $12.5m 0.02% Added +357.7k +357,672
17 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 1,467,8001.5m $11.6m $11.6m 0.00% Reduced -28.1k -28,079
18 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,333,3081.3m $10.6m $10.6m 0.00% Added +857.4k +857,392
19 Weiss Asset Management LP 0.14% of their portfolio BOSTON, MA 1,247,5771.2m $9.9m $9.9m 0.14% Not comparable
20 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 1,201,6401.2m $9.5m $9.5m 0.01% Added +849.0k +849,000
21 Meros Investment Management, LP 3.23% of their portfolio DALLAS, TX 954,181954.2k $7.6m $7.6m 3.23% Added +333.1k +333,121
22 LANDMARK INVESTMENT PARTNERS, L.P. 5.61% of their portfolio WEST PALM BEACH, FL 863,517863.5k $6.8m $6.8m 5.61% Reduced -1.1m -1,061,301
23 LMR Partners LLP 0.08% of their portfolio LONDON, X0 807,439807.4k $6.4m $6.4m 0.08% New
24 CANTOR FITZGERALD, L. P. 0.11% of their portfolio NEW YORK, NY 735,000735.0k $5.8m $5.8m 0.11% Added +460.0k +460,000
25 Man Group plc 0.01% of their portfolio LONDON, X0 711,327711.3k $5.6m $5.6m 0.01% Reduced -347.8k -347,769
26 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 632,945632.9k $5.0m $5.0m 0.01% Added +158.8k +158,767
27 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 628,394628.4k $5.0m $5.0m 0.00% New
28 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 589,906589.9k $4.7m $4.7m 0.00% Reduced -148.3k -148,319
29 Schonfeld Strategic Advisors LLC 0.03% of their portfolio NEW YORK, NY 576,338576.3k $4.6m $4.6m 0.03% New
30 Legal & General Group Plc 0.00% of their portfolio London, X0 568,187568.2k $4.5m $4.5m 0.00% Reduced -70.2k -70,186
31 Verition Fund Management LLC 0.03% of their portfolio GREENWICH, CT 564,512564.5k $4.5m $4.5m 0.03% Added +502.3k +502,320
32 HRT FINANCIAL LP 0.02% of their portfolio NEW YORK, NY 561,976562.0k $4.5m $4.5m 0.02% New
33 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 541,177541.2k $4.3m $4.3m 0.00% Added +114.4k +114,441
34 UBS Group AG 0.00% of their portfolio ZURICH, V8 539,062539.1k $4.3m $4.3m 0.00% Added +282.8k +282,764
35 SummitTX Capital, L.P. 0.17% of their portfolio FORT WORTH, TX 525,108525.1k $4.2m $4.2m 0.17% Reduced -243.7k -243,662
36 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 495,838495.8k $3.9m $3.9m 0.00% Reduced -30.9k -30,900
37 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 493,741493.7k $3.9m $3.9m 0.00% Added +19.7k +19,699
38 Quinn Opportunity Partners LLC 0.27% of their portfolio CHARLOTTESVILLE, VA 467,974468.0k $3.7m $3.7m 0.27% Unchanged
39 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 467,095467.1k $3.7m $3.7m 0.00% Reduced -4.7k -4,736
40 TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio STAMFORD, CT 460,953461.0k $3.7m $3.7m 0.02% Added +200.9k +200,879
41 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 441,890441.9k $3.5m $3.5m 0.00% Added +265.0k +264,979
42 Cubist Systematic Strategies, LLC 0.04% of their portfolio STAMFORD, CT 373,398373.4k $3.0m $3.0m 0.04% New
43 J. Goldman & Co LP 0.10% of their portfolio NEW YORK, NY 343,088343.1k $2.7m $2.7m 0.10% Reduced -479.6k -479,645
44 Beverly Hills Private Wealth, LLC 0.46% of their portfolio BEVERLY HILLS, CA 325,116325.1k $2.6m $2.6m 0.46% Added +25.1k +25,121
45 Bleakley Financial Group, LLC 0.06% of their portfolio PARSIPPANY, NJ 320,552320.6k $2.5m $2.5m 0.06% Reduced -204 -204
46 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 287,554287.6k $2.3m $2.3m 0.00% Added +15.4k +15,443
47 Swiss National Bank 0.00% of their portfolio ZURICH, V8 260,984261.0k $2.1m $2.1m 0.00% Added +3.3k +3,300
48 Union Square Park Capital Management, LLC 1.42% of their portfolio New York, NY 260,000260.0k $2.1m $2.1m 1.42% New
49 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 247,682247.7k $2.0m $2.0m 0.00% Added +89.8k +89,802
50 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 234,884234.9k $1.9m $1.9m 0.00% Reduced -18.7k -18,695
51 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 234,804234.8k $1.9m $1.9m 0.00% Reduced -94.5k -94,550
52 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 232,958233.0k $1.8m $1.8m 0.00% Reduced -249.9k -249,905
53 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 213,213213.2k $1.7m $1.7m 0.00% Added +6.6k +6,552
54 NOMURA ASSET MANAGEMENT CO LTD 0.00% of their portfolio TOKYO, M0 193,200193.2k $1.5m $1.5m 0.00% Added +8.0k +8,000
55 Asset Management One Co., Ltd. 0.00% of their portfolio TOKYO, M0 189,881189.9k $1.5m $1.5m 0.00% Unchanged
56 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 185,127185.1k $1.5m $1.5m 0.00% Reduced -608 -608
57 SAYBROOK CAPITAL /NC 0.38% of their portfolio SAG HARBOR, NY 183,500183.5k $1.5m $1.5m 0.38% Unchanged
58 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 177,785177.8k $1.4m $1.4m 0.00% Added +6.2k +6,250
59 Greenland Capital Management LP 0.20% of their portfolio NEW YORK, NY 170,000170.0k $1.3m $1.3m 0.20% New
60 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 162,860162.9k $1.3m $1.3m 0.00% Reduced -1.3k -1,311
61 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 157,737157.7k $1.3m $1.3m 0.00% Reduced -220.3k -220,270
62 Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio CHIYODA-KU, TOKYO, M0 152,764152.8k $1.2m $1.2m 0.00% Added +12.8k +12,789
63 AlphaQuest LLC 0.08% of their portfolio New York, NY 149,523149.5k $1.2m $1.2m 0.08% Added +81.6k +81,639
64 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 146,342146.3k $1.2m $1.2m 0.00% Reduced -15 -15
65 State of New Jersey Common Pension Fund D 0.00% of their portfolio TRENTON, NJ 138,773138.8k $1.1m $1.1m 0.00% Unchanged
66 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 124,231124.2k $985.1k $985.1k 0.00% Added +14.4k +14,380
67 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 123,692123.7k $980.9k $980.9k 0.00% Added +4.7k +4,710
68 PRUDENTIAL FINANCIAL INC 0.00% of their portfolio NEWARK, NJ 122,838122.8k $974.1k $974.1k 0.00% Reduced -170.5k -170,500
69 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 118,001118.0k $935.0k $935.0k 0.00% Reduced -42.1k -42,057
70 Y-Intercept (Hong Kong) Ltd 0.02% of their portfolio HONG KONG, K3 117,143117.1k $928.9k $928.9k 0.02% Reduced -7.8k -7,772
71 DRW Securities, LLC 0.05% of their portfolio CHICAGO, IL 113,702113.7k $926.0k $926.0k 0.05% New
72 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 111,755111.8k $886.2k $886.2k 0.00% Reduced -18.5k -18,542
73 PEAK6 LLC 0.01% of their portfolio AUSTIN, TX 109,806109.8k $870.8k $870.8k 0.01% New
74 CALDWELL SUTTER CAPITAL, INC. 0.35% of their portfolio SAUSALITO, CA 103,358103.4k $819.6k $819.6k 0.35% Unchanged
75 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 101,461101.5k $776.2k $776.2k 0.00% Reduced -3.9k -3,898
76 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 97,71797.7k $774.9k $774.9k 0.00% Added +9.5k +9,500
77 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 90,66290.7k $719.0k $719.0k 0.00% New
78 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 83,97184.0k $665.9k $665.9k 0.00% Added +71.7k +71,737
79 NATIXIS ADVISORS, LLC 0.00% of their portfolio Boston, MA 83,42283.4k $662.0k $662.0k 0.00% Reduced -2.1k -2,103
80 Engineers Gate Manager LP 0.01% of their portfolio NEW YORK, NY 80,66280.7k $639.6k $639.6k 0.01% New
81 Alpine Global Management, LLC 0.13% of their portfolio NEW YORK, NY 80,00080.0k $634.4k $634.4k 0.13% New
82 NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio ST. LOUIS, MO 78,03678.0k $618.8k $618.8k 0.00% Added +54.1k +54,129
83 Clear Harbor Asset Management, LLC 0.04% of their portfolio Stamford, CT 76,40076.4k $605.9k $605.9k 0.04% New
84 Centiva Capital, LP 0.06% of their portfolio New York, NY 75,00075.0k $594.8k $594.8k 0.06% New
85 Entropy Technologies, LP 0.04% of their portfolio NEW YORK, NY 74,83774.8k $593.5k $593.5k 0.04% New
86 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 74,09674.1k $587.6k $587.6k 0.00% Reduced -7.1k -7,051
87 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 71,33271.3k $565.7k $565.7k 0.00% Added +39.8k +39,812
88 State of Alaska, Department of Revenue 0.01% of their portfolio JUNEAU, AK 71,24471.2k $563.0k $563.0k 0.01% Added +7.2k +7,246
89 Amundi 0.00% of their portfolio Paris, I0 69,62769.6k $536.8k $536.8k 0.00% Added +2.4k +2,396
90 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 66,09766.1k $524.1k $524.1k 0.00% Added +12.8k +12,827
91 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 65,83065.8k $522.4k $522.4k 0.00% Unchanged
92 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio TALLAHASSEE, FL 64,44564.4k $511.0k $511.0k 0.00% Unchanged
93 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 64,10764.1k $508.4k $508.4k 0.00% Reduced -145.2k -145,194
94 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 63,25063.2k $501.6k $501.6k 0.00% Reduced -3.6k -3,640
95 Inspire Investing, LLC 0.05% of their portfolio MERIDIAN, ID 62,58662.6k $496.3k $496.3k 0.05% Added +17.3k +17,296
96 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 61,36061.4k $486.6k $486.6k 0.00% Reduced -11.0k -11,018
97 Campbell & CO Investment Adviser LLC 0.04% of their portfolio BALTIMORE, MD 60,18660.2k $477.3k $477.3k 0.04% Reduced -2.9k -2,900
98 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 59,82359.8k $474.4k $474.4k 0.00% Reduced -6.0k -5,955
99 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 58,69358.7k $465.4k $465.4k 0.00% Reduced -18.0k -17,982
100 Resona Asset Management Co.,Ltd. 0.00% of their portfolio KOTO-KU,TOKYO, M0 58,37058.4k $452.7k $452.7k 0.00% Added +4.7k +4,714