Who owns ARE (ARE)
Which tracked institutional funds hold ARE, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See ARE company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
110 tracked funds added or opened ARE while 178 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
ARE’s largest tracked holder by dollar value, NORGES BANK, sizes it at 0.2% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in ARE divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 565 tracked filers holding ARE, 305 increased or opened the position and 316 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in ARE between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 31
- VANGUARD PORTFOLIO MANAGEMENT LLC$643M
- VANGUARD CAPITAL MANAGEMENT LLC$499M
- HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC$57M
- VANGUARD FIDUCIARY TRUST CO$41M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$37M
- Vanguard Global Advisers, LLC$15M
Full exits 49
- VANGUARD GROUP INC$1.2B
- Long Pond Capital, LP$23M
- Triodos Investment Management BV$11M
- Swedbank AB$8M
- Kawa Capital Management, Inc$8M
- Apollo Management Holdings, L.P.$7M
Largest adds
- NORGES BANK$717M
- AQR CAPITAL MANAGEMENT LLC$92M
- JPMORGAN CHASE & CO$32M
- CITIGROUP INC$25M
- MILLENNIUM MANAGEMENT LLC$18M
- CENTERSQUARE INVESTMENT MANAGEMENT LLC$16M
Largest trims
- BlackRock, Inc.$414M
- GOLDMAN SACHS GROUP INC$71M
- STATE STREET CORP$61M
- CITADEL ADVISORS LLC$34M
- NORTHERN TRUST CORP$33M
- Capital World Investors$32M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| NORGES BANK | 16,457,471 | $1.5B | 16.6% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 13,849,551 | $643M | 7.0% | 2026-Q1 |
| BlackRock, Inc. trimmed | 12,465,626 | $579M | 6.3% | 2026-Q1 |
| STATE STREET CORP trimmed | 10,662,463 | $503M | 5.5% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 10,742,559 | $499M | 5.5% | 2026-Q1 |
| Invesco Ltd. added | 6,640,237 | $308M | 3.4% | 2026-Q1 |
| APG Asset Management US Inc. added | 6,981,310 | $302M | 3.3% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 4,509,021 | $209M | 2.3% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 3,609,904 | $167M | 1.8% | 2026-Q1 |
| Capital World Investors trimmed | 3,228,259 | $150M | 1.6% | 2026-Q1 |
| MORGAN STANLEY added | 2,781,501 | $129M | 1.4% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 2,688,251 | $125M | 1.4% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC added | 2,590,543 | $120M | 1.3% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 2,297,222 | $107M | 1.2% | 2026-Q1 |
| NORTHERN TRUST CORP trimmed | 2,260,743 | $105M | 1.1% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 2,236,724 | $104M | 1.1% | 2026-Q1 |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC added | 2,024,892 | $94M | 1.0% | 2026-Q1 |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC trimmed | 1,511,273 | $70M | 0.8% | 2026-Q1 |
| Legal & General Group Plc trimmed | 1,417,789 | $66M | 0.7% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD trimmed | 1,379,323 | $64M | 0.7% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 1,336,870 | $62M | 0.7% | 2026-Q1 |
| Freestone Grove Partners LP trimmed | 1,221,712 | $57M | 0.6% | 2026-Q1 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC new | 1,221,640 | $57M | 0.6% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 1,185,583 | $55M | 0.6% | 2026-Q1 |
| Bank of New York Mellon Corp added | 1,120,991 | $52M | 0.6% | 2026-Q1 |
| HSBC HOLDINGS PLC trimmed | 1,049,020 | $49M | 0.5% | 2026-Q1 |
| CITIGROUP INC added | 1,015,056 | $47M | 0.5% | 2026-Q1 |
| Sumitomo Mitsui Trust Group, Inc. trimmed | 991,351 | $46M | 0.5% | 2026-Q1 |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO trimmed | 972,721 | $45M | 0.5% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 923,991 | $43M | 0.5% | 2026-Q1 |
| Clal Insurance Enterprises Holdings Ltd | 918,000 | $43M | 0.5% | 2026-Q1 |
| Analyst IMS Investment Management Services Ltd. trimmed | 916,294 | $43M | 0.5% | 2026-Q1 |
| DEUTSCHE BANK AG\ trimmed | 909,209 | $42M | 0.5% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 893,798 | $41M | 0.5% | 2026-Q1 |
| TOWN LANE MANAGEMENT LP added | 866,266 | $40M | 0.4% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 846,385 | $39M | 0.4% | 2026-Q1 |
| STRS OHIO trimmed | 804,837 | $37M | 0.4% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 789,864 | $37M | 0.4% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 788,845 | $37M | 0.4% | 2026-Q1 |
| Quantinno Capital Management LP added | 747,919 | $35M | 0.4% | 2026-Q1 |
| PGGM Investments trimmed | 743,471 | $35M | 0.4% | 2026-Q1 |
| EARNEST PARTNERS LLC added | 552,568 | $26M | 0.3% | 2026-Q1 |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ added | 542,555 | $25M | 0.3% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 515,280 | $24M | 0.3% | 2026-Q1 |
| Amundi trimmed | 502,882 | $23M | 0.3% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. added | 472,833 | $23M | 0.3% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ added | 485,920 | $23M | 0.2% | 2026-Q1 |
| WORLDQUANT MILLENNIUM ADVISORS LLC added | 481,788 | $22M | 0.2% | 2026-Q1 |
| UBS Group AG trimmed | 474,863 | $22M | 0.2% | 2026-Q1 |
| FMR LLC added | 410,711 | $19M | 0.2% | 2026-Q1 |
| SG Americas Securities, LLC added | 399,722 | $19M | 0.2% | 2026-Q1 |
| TOCQUEVILLE ASSET MANAGEMENT L.P. added | 395,899 | $18M | 0.2% | 2026-Q1 |
| Adelante Capital Management LLC trimmed | 357,450 | $17M | 0.2% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 355,029 | $16M | 0.2% | 2026-Q1 |
| Nuveen, LLC trimmed | 340,307 | $16M | 0.2% | 2026-Q1 |
| BARCLAYS PLC trimmed | 338,920 | $16M | 0.2% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 329,836 | $15M | 0.2% | 2026-Q1 |
| RHUMBLINE ADVISERS trimmed | 321,209 | $15M | 0.2% | 2026-Q1 |
| Mitsubishi UFJ Asset Management Co., Ltd. trimmed | 313,069 | $15M | 0.2% | 2026-Q1 |
| Swiss National Bank trimmed | 307,800 | $14M | 0.2% | 2026-Q1 |
| CANADA LIFE ASSURANCE Co trimmed | 303,975 | $14M | 0.2% | 2026-Q1 |
| LAZARD ASSET MANAGEMENT LLC added | 291,687 | $14M | 0.1% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC trimmed | 276,253 | $13M | 0.1% | 2026-Q1 |
| Gotham Asset Management, LLC added | 274,218 | $13M | 0.1% | 2026-Q1 |
| CI INVESTMENTS INC. trimmed | 272,561 | $13M | 0.1% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 271,826 | $13M | 0.1% | 2026-Q1 |
| Gradient Investments LLC added | 263,716 | $12M | 0.1% | 2026-Q1 |
| JACOBS LEVY EQUITY MANAGEMENT, INC added | 260,593 | $12M | 0.1% | 2026-Q1 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed | 259,626 | $12M | 0.1% | 2026-Q1 |
| California Public Employees Retirement System trimmed | 253,929 | $12M | 0.1% | 2026-Q1 |
| NEW YORK STATE COMMON RETIREMENT FUND trimmed | 250,793 | $12M | 0.1% | 2026-Q1 |
| NOMURA ASSET MANAGEMENT CO LTD trimmed | 248,720 | $12M | 0.1% | 2026-Q1 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO trimmed | 247,711 | $11M | 0.1% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC trimmed | 246,507 | $11M | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 239,235 | $11M | 0.1% | 2026-Q1 |
| NAN FUNG TRINITY (HK) LTD | 238,981 | $11M | 0.1% | 2026-Q1 |
| Man Group plc added | 236,589 | $11M | 0.1% | 2026-Q1 |
| Asset Management One Co., Ltd. trimmed | 222,240 | $10M | 0.1% | 2026-Q1 |
| DIAMOND HILL CAPITAL MANAGEMENT INC added | 220,050 | $10M | 0.1% | 2026-Q1 |
| Quinn Opportunity Partners LLC | 201,000 | $9M | 0.1% | 2026-Q1 |
| D. E. Shaw & Co., Inc. trimmed | 195,695 | $9M | 0.1% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 191,403 | $9M | 0.1% | 2026-Q1 |
| Focus Partners Wealth added | 189,144 | $9M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 25,021,269 | $1.2B | 13.4% | 2025-Q4 stale |
| NFJ INVESTMENT GROUP, LLC added | 1,161,349 | $97M | 1.1% | 2025-Q3 stale |
| CCLA Investment Management trimmed | 829,124 | $69M | 0.8% | 2025-Q3 stale |
| MENORA MIVTACHIM HOLDINGS LTD. new | 735,000 | $61M | 0.7% | 2025-Q3 stale |
| Clearbridge Investments, LLC added | 538,889 | $45M | 0.5% | 2025-Q3 stale |
| M&G PLC trimmed | 445,829 | $37M | 0.4% | 2025-Q3 stale |
| Randolph Co Inc added | 298,972 | $25M | 0.3% | 2025-Q3 stale |
| Long Pond Capital, LP added | 479,200 | $23M | 0.3% | 2025-Q4 stale |
| Act Two Investors LLC new | 275,290 | $23M | 0.3% | 2025-Q3 stale |
| Qube Research & Technologies Ltd trimmed | 258,919 | $19M | 0.2% | 2025-Q2 stale |
| AXA Investment Managers S.A. new | 184,038 | $15M | 0.2% | 2025-Q3 stale |
| AXA S.A. added | 202,507 | $15M | 0.2% | 2025-Q2 stale |
| NATIXIS ADVISORS, LLC added | 157,493 | $13M | 0.1% | 2025-Q3 stale |
| Gillson Capital LP added | 136,600 | $13M | 0.1% | 2025-Q1 stale |
| Senvest Management, LLC trimmed | 171,134 | $12M | 0.1% | 2025-Q2 stale |
| Triodos Investment Management BV trimmed | 225,800 | $11M | 0.1% | 2025-Q4 stale |
| GATEWAY INVESTMENT ADVISERS LLC added | 95,628 | $9M | 0.1% | 2025-Q1 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.