Apollo Commercial Real Estate Finance Liquidating Trust (ARI) shareholders
ARINYSEReal Estate Investment TrustsFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026Score 16/3083% below fair value
$2.41−0.10 (-3.98%)
Close on Nov 5, 2026Market cap $308.99MP/E 3.0Yield 41.49%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
63.3%
81M of 128M shares
Institutional holders
284
67 new, 47 sold out
Net institutional buying
-5M
In Q2 2026
Insider trades, 12 months
0 buys · 4 sales
Net sold $585.63K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Newtyn Management, LLC Joint filing with Newtyn TE Partners, LP (5.10%) | 10,311,147 | 7.90% | 13G (passive) | Jul 23, 2026 |
| Irenic Capital Evergreen Master Fund LP Joint filing with Irenic Capital Management LP (6.50%), ICM ARI Investor LLC (6.50%) and 2 more | 8,410,009 | 6.50% | 13G (passive) | Oct 30, 2026 |
| The Goldman Sachs Group, Inc. Joint filing with Goldman Sachs & Co. LLC (5.20%) | 6,714,144 | 5.20% | 13G (passive) | Sep 30, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of ARI | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 11,929,835 | 9.30% | $127.41M | −9,254,061 | 0.00% |
| Vanguard Portfolio Management LLC | 6,088,701 | 4.75% | $65.03M | −1,847,716 | 0.00% |
| Vanguard Capital Management LLC | 6,025,495 | 4.70% | $64.35M | −379,448 | 0.00% |
| Millennium Management LLC | 4,563,909 | 3.56% | $48.74M | +3,277,403 | 0.02% |
| Geode Capital Management, LLC | 3,383,089 | 2.64% | $36.14M | +58,437 | 0.00% |
| State Street Corp | 3,331,999 | 2.60% | $35.59M | −1,934,220 | 0.00% |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 2,834,255 | 2.21% | $30.27M | +89,349 | 0.04% |
| No Street GP LP | 2,440,900 | 1.90% | $26.07M | −909,100 | 1.57% |
| Charles Schwab Investment Management Inc | 2,035,950 | 1.59% | $21.74M | −122,028 | 0.00% |
| Schonfeld Strategic Advisors LLC | 1,917,086 | 1.50% | $20.47M | New | 0.07% |
| Jane Street Group, LLC | 1,819,330 | 1.42% | $19.43M | +1,666,138 | 0.00% |
| Northern Trust Corp | 1,657,726 | 1.29% | $17.70M | −39,138 | 0.00% |
| Qube Research & Technologies Ltd | 1,644,857 | 1.28% | $17.57M | New | 0.02% |
| Susquehanna International Group, Llp | 1,614,946 | 1.26% | $17.25M | +1,277,540 | 0.00% |
| Morgan Stanley | 1,566,768 | 1.22% | $16.73M | −214,195 | 0.00% |
| Nuveen, LLC | 1,221,853 | 0.95% | $13.05M | +886,948 | 0.00% |
| Goldman Sachs Group Inc | 1,122,279 | 0.88% | $11.99M | +665,491 | 0.00% |
| Van Eck Associates Corp | 1,086,119 | 0.85% | $11.60M | −150,529 | 0.01% |
| Alpine Global Management, LLC | 901,968 | 0.70% | $9.63M | +734,195 | 1.57% |
| Empyrean Capital Partners, LP | 883,751 | 0.69% | $9.44M | – | 0.31% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 284 | 81M | 63.3% | 67 / 79 | 83 / 47 | 19M | 24M |
| Q1 2026 | 271 | 86M | 67.0% | 48 / 83 | 89 / 32 | 25M | 6M |
| Q4 2025 | 262 | 82M | 64.1% | 37 / 97 | 79 / 32 | 6M | 4M |
| Q3 2025 | 262 | 80M | 62.8% | 33 / 103 | 71 / 21 | 6M | 4M |
| Q2 2025 | 253 | 79M | 61.8% | 31 / 94 | 78 / 26 | 7M | 8M |
| Q1 2025 | 249 | 80M | 62.4% | 36 / 84 | 80 / 23 | 7M | 4M |
| Q4 2024 | 239 | 78M | 60.8% | 37 / 77 | 83 / 34 | 8M | 7M |
| Q3 2024 | 240 | 76M | 59.5% | 29 / 71 | 89 / 18 | 25M | 4M |
| Q2 2024 | 231 | 77M | 60.3% | 24 / 82 | 79 / 27 | 4M | 8M |
| Q1 2024 | 237 | 82M | 63.6% | 32 / 70 | 81 / 25 | 4M | 2M |
| Q4 2023 | 233 | 80M | 62.6% | 25 / 77 | 80 / 16 | 6M | 2M |
| Q3 2023 | 228 | 76M | 59.2% | 17 / 76 | 88 / 27 | 2M | 4M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
175 funds held ARI in Q2 2026, 79% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of ARI | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 4,194,969 | 3.27% | $44.80M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 3,535,479 | 2.76% | $37.76M | 0.05% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 3,044,369 | 2.37% | $32.51M | 0.02% | Jun 30, 2026 |
| Vanguard Small-Cap Value Index Fund | 1,930,016 | 1.51% | $20.61M | 0.03% | Jun 30, 2026 |
| iShares Mortgage Real Estate ETF | 1,541,150 | 1.20% | $16.46M | 3.00% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 1,424,016 | 1.11% | $15.21M | 0.02% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 1,265,021 | 0.99% | $13.51M | 0.09% | Jun 30, 2026 |
| Global X SuperDividend ETF | 1,145,839 | 0.89% | $7.59M | 0.63% | Jul 31, 2026 |
| VanEck Mortgage REIT Income ETF | 1,100,623 | 0.86% | $11.75M | 2.94% | Jun 30, 2026 |
| Global X SuperDividend REIT ETF | 854,780 | 0.67% | $5.66M | 2.43% | Jul 31, 2026 |
| Vanguard Russell 2000 Index Fund | 717,261 | 0.56% | $7.86M | 0.04% | May 31, 2026 |
| Fidelity Extended Market Index Fund | 693,445 | 0.54% | $7.60M | 0.02% | May 31, 2026 |
| Schwab Fundamental U.S. Small Company ETF | 648,679 | 0.51% | $7.11M | 0.08% | May 31, 2026 |
| Schwab U.S. Small-Cap ETF | 632,010 | 0.49% | $6.93M | 0.03% | May 31, 2026 |
| First Trust Small Cap Core AlphaDEX Fund | 489,147 | 0.38% | $3.24M | 0.24% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Stuart Rothstein | President & CEO, Director | 182,437 | 0.14% | Nov 4, 2026 |
| Anastasia G. Mironova | CFO, Treasurer and Secretary | 55,844 | 0.04% | Nov 4, 2026 |
| Michael Salvati | Director | 162,417 | 0.13% | Aug 27, 2026 |
| Carmencita N.M. Whonder | Director | 24,799 | 0.02% | May 15, 2026 |
| Mark C. Biderman | Director | 70,374 | 0.05% | Apr 3, 2026 |
| Scott Prince | Director | 60,903 | 0.05% | Apr 3, 2026 |
| Robert A. Kasdin | Director | 114,628 | 0.09% | Apr 3, 2026 |
| Brenna Haysom Romando | Director | 90,534 | 0.07% | Apr 3, 2026 |
| Pamela G. Carlton | Director | 49,274 | 0.04% | Apr 3, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Stuart Rothstein President & CEO, Director | Nov 2, 2026 | Tax withholding | −100,239 | $2.33 | $233.56K | 177,437 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Nov 2, 2026 | Tax withholding | −19,437 | $2.33 | $45.29K | 55,844 |
| Michael Salvati Director | Aug 25, 2026 | Sale | −835 | $6.86 | $5.73K | 0 |
| Michael Salvati Director | Aug 25, 2026 | Sale | −125 | $6.86 | $858 | 162,417 |
| Carmencita N.M. Whonder Director | May 13, 2026 | Sale | −4,574 | $10.93 | $49.99K | 24,799 |
| Michael Salvati Director | Apr 1, 2026 | Award | +9,587 | – | – | 162,542 |
| Robert A. Kasdin Director | Apr 1, 2026 | Award | +9,587 | – | – | 114,628 |
| Pamela G. Carlton Director | Apr 1, 2026 | Award | +9,587 | – | – | 49,274 |
| Carmencita N.M. Whonder Director | Apr 1, 2026 | Award | +9,587 | – | – | 29,373 |
| Mark C. Biderman Director | Apr 1, 2026 | Award | +9,587 | – | – | 70,374 |
| Brenna Haysom Romando Director | Apr 1, 2026 | Award | +9,587 | – | – | 90,534 |
| Scott Prince Director | Apr 1, 2026 | Award | +9,587 | – | – | 60,903 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Jan 30, 2026 | Tax withholding | −6,385 | $10.68 | $68.19K | 75,281 |
| Stuart Rothstein President & CEO, Director | Jan 30, 2026 | Tax withholding | −61,485 | $10.68 | $656.66K | 277,676 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Dec 30, 2025 | Award | +34,825 | – | – | 81,666 |
| Stuart Rothstein President & CEO, Director | Dec 30, 2025 | Award | +109,452 | – | – | 339,161 |
| Stuart Rothstein President & CEO, Director | Dec 15, 2025 | Sale(10b5-1 plan) | −52,072 | $10.16 | $529.05K | 229,709 |
| Stuart Rothstein President & CEO, Director | Sep 15, 2025 | Sale(10b5-1 plan) | −52,073 | $10.78 | $561.35K | 281,781 |
| Stuart Rothstein President & CEO, Director | Jun 16, 2025 | Sale(10b5-1 plan) | −52,074 | $9.83 | $511.89K | 333,854 |
| Mark C. Biderman Director | Apr 29, 2025 | Sale | −10,000 | $9.48 | $94.80K | 60,787 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Apr 17, 2025 | Tax withholding | −852 | $8.31 | $7.08K | 46,841 |
| Mark C. Biderman Director | Apr 1, 2025 | Award | +10,162 | – | – | 70,787 |
| Robert A. Kasdin Director | Apr 1, 2025 | Award | +10,162 | – | – | 105,041 |
| Michael Salvati Director | Apr 1, 2025 | Award | +10,162 | – | – | 152,955 |
| Pamela G. Carlton Director | Apr 1, 2025 | Award | +10,162 | – | – | 39,687 |
| Carmencita N.M. Whonder Director | Apr 1, 2025 | Award | +10,162 | – | – | 19,786 |
| Scott Prince Director | Apr 1, 2025 | Award | +10,162 | – | – | 51,316 |
| Brenna Haysom Romando Director | Apr 1, 2025 | Award | +10,162 | – | – | 60,670 |
| Carmencita N.M. Whonder Director | Apr 1, 2025 | Award | +10,438 | – | – | 19,786 |
| Stuart Rothstein President & CEO, Director | Mar 17, 2025 | Sale(10b5-1 plan) | −52,074 | $9.99 | $520.22K | 385,928 |
| Carmencita N.M. Whonder Director | Mar 4, 2025 | Sale | −11,000 | $9.96 | $109.56K | 9,624 |
| Stuart Rothstein President & CEO, Director | Jan 31, 2025 | Tax withholding | −62,190 | $9.07 | $564.06K | 438,002 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Jan 31, 2025 | Tax withholding | −3,549 | $9.07 | $32.19K | 47,693 |
| Stuart Rothstein President & CEO, Director | Dec 30, 2024 | Award | +84,900 | – | – | 500,192 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Dec 30, 2024 | Award | +22,214 | – | – | 51,242 |
| Pamela G. Carlton Director | Sep 6, 2024 | Sale | −833 | $10.32 | $8.60K | 29,525 |
| Scott Prince Director | Aug 15, 2024 | Sale | −10,000 | $10.10 | $101.00K | 41,154 |
| Scott Prince Director | Aug 14, 2024 | Sale | −20,000 | $10.06 | $201.20K | 51,154 |
| Scott Prince Director | Aug 13, 2024 | Sale | −10,000 | $10.04 | $100.40K | 71,154 |
| Scott Prince Director | Aug 8, 2024 | Sale | −4,935 | $10.12 | $49.94K | 81,154 |
| Carmencita N.M. Whonder Director | May 28, 2024 | Sale | −11,400 | $10.21 | $116.39K | 20,624 |
| Mark C. Biderman Director | May 1, 2024 | Sale | −15,000 | $10.00 | $150.00K | 60,625 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Apr 17, 2024 | Tax withholding | −851 | $10.58 | $9.00K | 29,028 |
| Stuart Rothstein President & CEO, Director | Apr 15, 2024 | Sale(10b5-1 plan) | −40,000 | $10.60 | $424.00K | 415,292 |
| Pamela G. Carlton Director | Apr 1, 2024 | Award | +9,140 | – | – | 30,358 |
| Brenna Haysom Romando Director | Apr 1, 2024 | Award | +9,140 | – | – | 50,508 |
| Carmencita N.M. Whonder Director | Apr 1, 2024 | Award | +9,140 | – | – | 32,024 |
| Mark C. Biderman Director | Apr 1, 2024 | Award | +9,140 | – | – | 75,625 |
| Scott Prince Director | Apr 1, 2024 | Award | +9,140 | – | – | 86,089 |
| Michael Salvati Director | Apr 1, 2024 | Award | +9,140 | – | – | 142,793 |
| Robert A. Kasdin Director | Apr 1, 2024 | Award | +9,140 | – | – | 94,879 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Jan 29, 2024 | Tax withholding | −1,839 | $11.71 | $21.53K | 29,879 |
| Stuart Rothstein President & CEO, Director | Jan 29, 2024 | Tax withholding | −86,383 | $11.71 | $1.01M | 455,292 |
| Stuart Rothstein President & CEO, Director | Jan 16, 2024 | Sale(10b5-1 plan) | −40,000 | $11.45 | $458.00K | 541,675 |
| Stuart Rothstein President & CEO, Director | Dec 26, 2023 | Award | +90,909 | – | – | 581,675 |
| Anastasia G. Mironova CFO, Treasurer and Secretary | Dec 26, 2023 | Award | +12,396 | – | – | 31,718 |
| Stuart Rothstein President & CEO, Director | Oct 16, 2023 | Sale(10b5-1 plan) | −40,000 | $10.09 | $403.60K | 490,766 |
| Mark C. Biderman Director | Sep 6, 2023 | Sale | −10,000 | $10.60 | $106.00K | 66,485 |
| Pamela G. Carlton Director | Aug 17, 2023 | Sale | −833 | $10.41 | $8.67K | 21,218 |
| Stuart Rothstein President & CEO, Director | Jul 17, 2023 | Sale(10b5-1 plan) | −40,000 | $11.80 | $472.00K | 530,766 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
4.89%
6M shares short
Days to cover
1.1
At 6M shares a day
Change since last report
-11.1%
From 7M shares
Short volume, 20 days
46.1%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Apollo Commercial Real Estate Finance Liquidating Trust's stock actually held short. Settlement fails (shares not delivered on time) peaked at 383,442 shares on Aug 17, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Michael Salvati Director | Aug 25, 2026 | 960 | $6.60K | Aug 25, 2026 | Open Market Purchase |
| Stuart Rothstein Director, Officer | Dec 15, 2025 | 52,072 | $526.97K | Dec 15, 2025 | Restricted Stock Units |
| Stuart Rothstein Director, Officer | Sep 15, 2025 | 52,073 | $564.47K | Sep 15, 2025 | Restricted Stock Units |
| Stuart A Rothstein & Michele Rothstein Officer | Jun 16, 2025 | 52,074 | $511.37K | Jun 16, 2025 | Restricted Stock Units |
| Mark C. Biderman Director | Apr 29, 2025 | 10,000 | $94.80K | Apr 29, 2025 | Restricted stock vesting under a registered plan |
| Stuart A Rothstein &michele Rothstein Officer | Mar 17, 2025 | 52,074 | $519.70K | Mar 17, 2025 | Restricted Stock Units |
| Carmencita N.M. Whonder Director | Mar 6, 2025 | 11,000 | $109.52K | Mar 4, 2025 | Restricted stock issued under an S-8 registered plan |
| Pamela G. Carlton Director | Sep 6, 2024 | 833 | $8.49K | Sep 6, 2024 | BOARD COMPENSATION |
| Scott Weiner Partner | Aug 26, 2024 | 363,904 | $3.80M | Aug 26, 2024 | Compensation |
| Scott Prince Director | Aug 15, 2024 | 10,000 | $100.99K | Aug 15, 2024 | Acquired as compensation -- Restricted Stock Awards |
| Scott Prince Director | Aug 14, 2024 | 20,000 | $199.20K | Aug 14, 2024 | Acquired as compensation -- Restricted Stock Awards |
| Scott Prince Director | Aug 13, 2024 | 10,000 | $102.40K | Aug 13, 2024 | Acquired as compensation -- Restricted Stock Awards |
| Mark C. Biderman Director | May 1, 2024 | 15,000 | $149.94K | May 1, 2024 | Restricted stock vesting under a registered plan |
| Stuart Rothstein Officer | Apr 15, 2024 | 40,000 | $430.40K | Apr 15, 2024 | Restricted Stock Units |
| Stuart Rothstein Officer | Jan 16, 2024 | 40,000 | $468.40K | Jan 16, 2024 | Restricted Stock Units |
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