Vault-13

APOLLO GLOBAL MGMT INC APO 6.75 07.31.26

SER A MAND CNV · PUBLIC · CUSIP 03769M304

81 institutional holders +2 vs Q1 2025
30,111,77130.1m shares reported held*
$2.1bnreported value*
7 new 30 added 28 reduced 5 sold out net bought ≈ $73.1m (+1.1m 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 ($5.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $67.41.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 23: 60Q4 23: 60Q1 24: 62Q2 24: 69Q3 24: 77Q4 24: 86Q1 25: 79Q2 25: 8181Q3 23Q1 24Q3 24Q1 25Q2 25
Numbers
QuarterHolders
Q3 202360
Q4 202360
Q1 202462
Q2 202469
Q3 202477
Q4 202486
Q1 202579
Q2 202581

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 23: 29 bought or addedQ4 23: 33 cut or sold outQ4 23Q1 24: 25 bought or addedQ1 24: 32 cut or sold outQ2 24: 25 bought or addedQ2 24: 31 cut or sold outQ2 24Q3 24: 31 bought or addedQ3 24: 28 cut or sold outQ4 24: 31 bought or addedQ4 24: 46 cut or sold outQ4 24Q1 25: 31 bought or addedQ1 25: 48 cut or sold outQ2 25: 37 bought or addedQ2 25: 33 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q4 20232933
Q1 20242532
Q2 20242531
Q3 20243128
Q4 20243146
Q1 20253148
Q2 20253733

Biggest buyers

BANK OF MONTREAL /CAN/ New +1,275,000+1.3m
Shaolin Capital Management LLC Added +900,000+900.0k
SONA ASSET MANAGEMENT (US) LLC Added +450,000+450.0k
WELLS FARGO & COMPANY/MN Added +363,452+363.5k
ANGELO GORDON & CO., L.P. New +150,000+150.0k
BlueCrest Capital Management Ltd Added +127,110+127.1k
SUSQUEHANNA ADVISORS GROUP, INC. New +125,000+125.0k
FRANKLIN RESOURCES INC Added +108,872+108.9k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +87,229+87.2k
ADVENT CAPITAL MANAGEMENT /DE/ Added +70,923+70.9k

Biggest sellers

D. E. Shaw & Co., Inc. Reduced -825,000-825.0k
AQR Arbitrage LLC Sold out -407,000-407.0k
Portman Square Capital LLP Sold out -350,000-350.0k
FMR LLC Reduced -283,877-283.9k
NORGES BANK Reduced -234,500-234.5k
CSS LLC/IL Reduced -171,855-171.9k
LORD, ABBETT & CO. LLC Reduced -149,960-150.0k
BlackRock, Inc. Reduced -136,190-136.2k
Russell Investments Group, Ltd. Reduced -100,000-100.0k
Calamos Advisors LLC Reduced -95,893-95.9k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 3,696,7003.7m $5.5m $5.5m 0.01% Reduced -100.0k -100,000
2 FRANKLIN RESOURCES INC 0.05% of their portfolio San Mateo, CA 2,419,3942.4m $181.1m $181.1m 0.05% Added +108.9k +108,872
3 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,265,9622.3m $169.6m $169.6m 0.00% Reduced -136.2k -136,190
4 Shaolin Capital Management LLC 7.04% of their portfolio Miami, FL 2,150,0002.1m $161.9m $161.9m 7.04% Added +900.0k +900,000
5 SONA ASSET MANAGEMENT (US) LLC 5.34% of their portfolio NEW YORK, NY 2,100,0002.1m $158.1m $158.1m 5.34% Added +450.0k +450,000
6 Calamos Advisors LLC 0.46% of their portfolio NAPERVILLE, IL 1,420,0351.4m $106.3m $106.3m 0.46% Reduced -95.9k -95,893
7 Sculptor Capital LP 1.56% of their portfolio New York, NY 1,290,9301.3m $96.6m $96.6m 1.56% Added +40.8k +40,842
8 BANK OF MONTREAL /CAN/ 0.05% of their portfolio TORONTO, A6 1,275,0001.3m $95.4m $95.4m 0.05% New
9 VICTORY CAPITAL MANAGEMENT INC 0.06% of their portfolio San Antonio, TX 1,218,8871.2m $91.2m $91.2m 0.06% Reduced -23.8k -23,840
10 Capital Research Global Investors 0.02% of their portfolio Los Angeles, CA 1,192,1741.2m $89.2m $89.2m 0.02% Unchanged
11 ADVENT CAPITAL MANAGEMENT /DE/ 1.93% of their portfolio NEW YORK, NY 1,175,1941.2m $87.7m $87.7m 1.93% Added +70.9k +70,923
12 Capital International Investors 0.01% of their portfolio Los Angeles, CA 970,400970.4k $72.6m $72.6m 0.01% Unchanged
13 Third Point LLC 0.88% of their portfolio NEW YORK, NY 900,000900.0k $67.4m $67.4m 0.88% Unchanged
14 TWO SIGMA INVESTMENTS, LP 0.12% of their portfolio NEW YORK, NY 863,080863.1k $64.6m $64.6m 0.12% Reduced -74.2k -74,168
15 MacKay Shields LLC 1.75% of their portfolio New York, NY 725,064725.1k $54.6m $54.6m 1.75% Reduced -3.8k -3,761
16 NORGES BANK 0.01% of their portfolio OSLO, Q8 715,500715.5k $53.6m $53.6m 0.01% Reduced -234.5k -234,500
17 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.10% of their portfolio CAUSEWAY BAY, K3 676,717676.7k $50.7m $50.7m 0.10% Added +11.7k +11,694
18 D. E. Shaw & Co., Inc. 0.04% of their portfolio New York, NY 520,000520.0k $39.1m $39.1m 0.04% Reduced -825.0k -825,000
19 FMR LLC 0.00% of their portfolio BOSTON, MA 436,600436.6k $32.8m $32.8m 0.00% Reduced -283.9k -283,877
20 Clearbridge Investments, LLC 0.03% of their portfolio NEW YORK, NY 432,993433.0k $32.4m $32.4m 0.03% Unchanged
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 422,235422.2k $31.6m $31.6m 0.00% Added +35.7k +35,688
22 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 397,047397.0k $29.7m $29.7m 0.01% Added +363.5k +363,452
23 INFRASTRUCTURE CAPITAL ADVISORS, LLC 3.51% of their portfolio New York, NY 388,994389.0k $29.1m $29.1m 3.51% Added +87.2k +87,229
24 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 370,300370.3k $27.8m $27.8m 0.00% Reduced -75.0k -75,000
25 SSI INVESTMENT MANAGEMENT LLC 1.74% of their portfolio Los Angeles, CA 328,900328.9k $24.7m $24.7m 1.74% Added +17.6k +17,585
26 PIER 88 INVESTMENT PARTNERS LLC 4.43% of their portfolio SAN FRANCISCO, CA 317,980318.0k $23.8m $23.8m 4.43% Added +35.0k +35,000
27 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 307,312307.3k $23.1m $23.1m 0.01% Added +10.4k +10,443
28 Magnetar Financial LLC 0.09% of their portfolio EVANSTON, IL 250,000250.0k $18.8m $18.8m 0.09% Unchanged
29 Thrivent Financial for Lutherans 0.04% of their portfolio Minneapolis, MN 229,273229.3k $17.2m $17.2m 0.04% Reduced -15.5k -15,535
30 Skaana Management L.P. 5.82% of their portfolio BROOKLYN, NY 179,336179.3k $13.4m $13.4m 5.82% Reduced -32.2k -32,230
31 Alberta Investment Management Corp 0.10% of their portfolio EDMONTON, A0 175,000175.0k $13.1m $13.1m 0.10% Unchanged
32 LORD, ABBETT & CO. LLC 0.04% of their portfolio JERSEY CITY, NJ 167,213167.2k $12.5m $12.5m 0.04% Reduced -150.0k -149,960
33 ANGELO GORDON & CO., L.P. 1.50% of their portfolio NEW YORK, NY 150,000150.0k $11.3m $11.3m 1.50% New
34 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 149,201149.2k $11.2m $11.2m 0.01% Added +45.4k +45,377
35 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 147,800147.8k $11.1m $11.1m 0.00% Added +37.0k +37,000
36 BlueCrest Capital Management Ltd 1.19% of their portfolio ST HELIER, Y9 143,239143.2k $10.7m $10.7m 1.19% Added +127.1k +127,110
37 SUSQUEHANNA ADVISORS GROUP, INC. 0.37% of their portfolio BALA CYNWYD, PA 125,000125.0k $9.4m $9.4m 0.37% New
38 RATIONAL ADVISORS, INC. 0.86% of their portfolio San Juan, PR 115,800115.8k $8.7m $8.7m 0.86% Added +35.0k +35,000
39 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 91,60591.6k $6.9m $6.9m 0.00% Reduced -45.0k -45,017
40 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 83,64483.6k $11.9m $11.9m 0.01% Added +36.3k +36,318
41 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 82,28482.3k $6.2m $6.2m 0.00% Added +17.3k +17,321
42 FEDERATED HERMES, INC. 0.01% of their portfolio PITTSBURGH, PA 60,00060.0k $4.5m $4.5m 0.01% Unchanged
43 Penserra Capital Management LLC 0.06% of their portfolio ORINDA, CA 57,27757.3k $4.3m $4.3m 0.06% Added +12.3k +12,282
44 LAFFER TENGLER INVESTMENTS, INC. 0.69% of their portfolio Scottsdale, AZ 51,45051.5k $3.9m $3.9m 0.69% Reduced -1.4k -1,400
45 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 47,76447.8k $3.6m $3.6m 0.00% New
46 Morse Asset Management, Inc 0.78% of their portfolio DARIEN, CT 47,47547.5k $3.6m $3.6m 0.78% Reduced -845 -845
47 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 31,01931.0k $2.3m $2.3m 0.00% Reduced -2.0k -1,998
48 PALISADE CAPITAL MANAGEMENT, LP 0.06% of their portfolio FORT LEE, NJ 29,82029.8k $2.2m $2.2m 0.06% Unchanged
49 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 29,33729.3k $2.2m $2.2m 0.00% Reduced -47.3k -47,329
50 CSS LLC/IL 0.13% of their portfolio CHICAGO, IL 28,29528.3k $2.1m $2.1m 0.13% Reduced -171.9k -171,855
51 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 28,00028.0k $2.1m $2.1m 0.01% Reduced -12.0k -12,000
52 Alken Asset Management Ltd 3.48% of their portfolio LONDON, X0 26,60026.6k $2.0m $2.0m 3.48% Unchanged
53 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 26,05826.1k $2.0m $2.0m 0.00% Reduced -76.8k -76,825
54 Uniplan Investment Counsel, Inc. 0.18% of their portfolio MILWAUKEE, WI 23,32323.3k $1.7m $1.7m 0.18% Added +10.0k +9,988
55 AEGON USA Investment Management, LLC 1.28% of their portfolio CEDAR RAPIDS, IA 22,71322.7k $1.7m $1.7m 1.28% Unchanged
56 WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio CHICAGO, IL 21,09521.1k $1.6m $1.6m 0.03% New
57 Capital International, Inc./CA/ 0.01% of their portfolio Los Angeles, CA 17,58417.6k $1.3m $1.3m 0.01% Added +10.7k +10,684
58 Central Pacific Bank - Trust Division 0.11% of their portfolio HONOLULU, HI 11,36511.4k $850.7k $850.7k 0.11% Added +620 +620
59 Calamos Wealth Management LLC 0.03% of their portfolio NAPERVILLE, IL 8,8428.8k $661.8k $661.8k 0.03% Reduced -602 -602
60 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 8,0218.0k $600.4k $600.4k 0.00% Added +3.2k +3,189
61 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 7,1347.1k $534.0k $534.0k 0.00% Added +5.7k +5,710
62 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 6,2376.2k $466.8k $466.8k 0.01% Reduced -975 -975
63 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 5,1505.2k $385.5k $385.5k 0.00% Unchanged
64 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 4,3664.4k $326.8k $326.8k 0.00% New
65 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 4,3304.3k $324.1k $324.1k 0.00% Added +686 +686
66 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 4,2854.3k $320.7k $320.7k 0.00% Added +15 +15
67 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 4,2134.2k $315.3k $315.3k 0.00% New
68 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 2,9152.9k $218.2k $218.2k 0.00% Reduced -32 -32
69 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 1,6521.7k $123.0k $123.0k 0.00% Unchanged
70 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 798798 $58.0k $58.0k 0.00% Added +797 +797
71 Colonial Trust Advisors 0.00% of their portfolio SPARTANBURG, SC 696696 $52.1k $52.1k 0.00% Unchanged
72 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 636636 $47.6k $47.6k 0.00% Added +300 +300
73 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 590590 $44.2k $44.2k 0.00% Reduced -1.2k -1,210
74 UBS Group AG 0.00% of their portfolio ZURICH, V8 540540 $40.4k $40.4k 0.00% Reduced -8 -8
75 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 274274 $20.5k $20.5k 0.00% Unchanged
76 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 265265 $19.0k $19.0k 0.00% Reduced -65 -65
77 COMERICA BANK 0.00% of their portfolio DALLAS, TX 9090 $6.7k $6.7k 0.00% Added +75 +75
78 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 8585 $6.4k $6.4k 0.00% Reduced -11 -11
79 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 5959 $4.4k $4.4k 0.00% Unchanged
80 TD PRIVATE CLIENT WEALTH LLC 0.00% of their portfolio NEW YORK, NY 1818 $1.3k $1.3k 0.00% Added +9 +9
81 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged