In the War of the Last Alliance of Men and Elves (the prologue bit at the start of the films) there's two powerful magic weapons for the good side. A weapon of fire (Narsil, later becomes Aragorns sword Anduril) and a weapon of ice, Aiglos/Aeglos. Wielded by Gil-galad.

It's well known what happened to Narsil. I was wondering, what happened to Aiglos?
If the elves/men kill Sauron, i assume the orcs flee shortly after. Surely they'd recover Aiglos from the battle. Does anyone else wield this spear?