Vault-13

APOLLO GLOBAL MGMT INC APO 6.75 07.31.26

SER A MAND CNV · PUBLIC · CUSIP 03769M304

81 institutional holders +0 vs Q2 2025
29,449,45729.4m shares reported held*
$1.9bnreported value*
7 new 25 added 28 reduced 5 sold out net bought ≈ $7.7m (+209.7k 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 ($6.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $62.76.

Trends to Q3 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: 81Q3 25: 8181Q3 23Q1 24Q3 24Q1 25Q3 25
Numbers
QuarterHolders
Q3 202360
Q4 202360
Q1 202462
Q2 202469
Q3 202477
Q4 202486
Q1 202579
Q2 202581
Q3 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 outQ1 24: 25 bought or addedQ1 24: 32 cut or sold outQ1 24Q2 24: 25 bought or addedQ2 24: 31 cut or sold outQ3 24: 31 bought or addedQ3 24: 28 cut or sold outQ3 24Q4 24: 31 bought or addedQ4 24: 46 cut or sold outQ1 25: 31 bought or addedQ1 25: 48 cut or sold outQ1 25Q2 25: 37 bought or addedQ2 25: 33 cut or sold outQ3 25: 32 bought or addedQ3 25: 33 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20232933
Q1 20242532
Q2 20242531
Q3 20243128
Q4 20243146
Q1 20253148
Q2 20253733
Q3 20253233

Biggest buyers

Shaolin Capital Management LLC Added +700,000+700.0k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +203,767+203.8k
JPMORGAN CHASE & CO Added +184,408+184.4k
FMR LLC Added +177,529+177.5k
ADVENT CAPITAL MANAGEMENT /DE/ Added +145,476+145.5k
AMERIPRISE FINANCIAL INC Added +70,000+70.0k
Russell Investments Group, Ltd. Added +65,000+65.0k
BARCLAYS PLC Added +50,947+50.9k
WELLS FARGO & COMPANY/MN Added +50,698+50.7k
GOLDMAN SACHS GROUP INC New +49,153+49.2k

Biggest sellers

Sculptor Capital LP Reduced -644,632-644.6k
BlueCrest Capital Management Ltd Sold out -143,239-143.2k
SUSQUEHANNA ADVISORS GROUP, INC. Sold out -125,000-125.0k
TWO SIGMA INVESTMENTS, LP Reduced -112,745-112.7k
BANK OF AMERICA CORP /DE/ Reduced -107,958-108.0k
Skaana Management L.P. Reduced -86,307-86.3k
RATIONAL ADVISORS, INC. Reduced -86,100-86.1k
PIER 88 INVESTMENT PARTNERS LLC Reduced -86,100-86.1k
CITIGROUP INC Reduced -72,558-72.6k
SSI INVESTMENT MANAGEMENT LLC Reduced -53,765-53.8k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 3,761,7003.8m $5.3m $5.3m 0.01% Added +65.0k +65,000
2 Shaolin Capital Management LLC 9.60% of their portfolio Miami, FL 2,850,0002.9m $201.0m $201.0m 9.60% Added +700.0k +700,000
3 FRANKLIN RESOURCES INC 0.04% of their portfolio San Mateo, CA 2,421,0292.4m $170.1m $170.1m 0.04% Added +1.6k +1,635
4 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,299,7202.3m $161.6m $161.6m 0.00% Added +33.8k +33,758
5 SONA ASSET MANAGEMENT (US) LLC 5.82% of their portfolio NEW YORK, NY 2,100,0002.1m $147.8m $147.8m 5.82% Unchanged
6 Calamos Advisors LLC 0.40% of their portfolio NAPERVILLE, IL 1,418,7211.4m $99.7m $99.7m 0.40% Reduced -1.3k -1,314
7 ADVENT CAPITAL MANAGEMENT /DE/ 2.08% of their portfolio NEW YORK, NY 1,320,6701.3m $92.4m $92.4m 2.08% Added +145.5k +145,476
8 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 1,275,0001.3m $89.6m $89.6m 0.04% Unchanged
9 VICTORY CAPITAL MANAGEMENT INC 0.05% of their portfolio San Antonio, TX 1,194,4371.2m $83.9m $83.9m 0.05% Reduced -24.4k -24,450
10 Capital Research Global Investors 0.02% of their portfolio Los Angeles, CA 1,192,1741.2m $83.8m $83.8m 0.02% Unchanged
11 Capital International Investors 0.01% of their portfolio Los Angeles, CA 970,400970.4k $68.2m $68.2m 0.01% Unchanged
12 Third Point LLC 0.75% of their portfolio NEW YORK, NY 900,000900.0k $63.3m $63.3m 0.75% Unchanged
13 TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio NEW YORK, NY 750,335750.3k $52.7m $52.7m 0.08% Reduced -112.7k -112,745
14 MacKay Shields LLC 1.73% of their portfolio New York, NY 721,847721.8k $51.0m $51.0m 1.73% Reduced -3.2k -3,217
15 Sculptor Capital LP 0.63% of their portfolio New York, NY 646,298646.3k $45.4m $45.4m 0.63% Reduced -644.6k -644,632
16 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.07% of their portfolio CAUSEWAY BAY, K3 642,350642.4k $45.1m $45.1m 0.07% Reduced -34.4k -34,367
17 FMR LLC 0.00% of their portfolio BOSTON, MA 614,129614.1k $43.3m $43.3m 0.00% Added +177.5k +177,529
18 INFRASTRUCTURE CAPITAL ADVISORS, LLC 4.79% of their portfolio New York, NY 592,761592.8k $38.7m $38.7m 4.79% Added +203.8k +203,767
19 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 470,000470.0k $33.1m $33.1m 0.03% Reduced -50.0k -50,000
20 Clearbridge Investments, LLC 0.02% of their portfolio NEW YORK, NY 463,184463.2k $32.6m $32.6m 0.02% Added +30.2k +30,191
21 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 447,745447.7k $31.5m $31.5m 0.01% Added +50.7k +50,698
22 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 398,892398.9k $28.1m $28.1m 0.00% Added +28.6k +28,592
23 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 377,312377.3k $26.6m $26.6m 0.01% Added +70.0k +70,000
24 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 314,277314.3k $22.1m $22.1m 0.00% Reduced -108.0k -107,958
25 SSI INVESTMENT MANAGEMENT LLC 1.32% of their portfolio Los Angeles, CA 275,135275.1k $19.4m $19.4m 1.32% Reduced -53.8k -53,765
26 Magnetar Financial LLC 0.11% of their portfolio EVANSTON, IL 250,000250.0k $17.6m $17.6m 0.11% Unchanged
27 PIER 88 INVESTMENT PARTNERS LLC 3.05% of their portfolio SAN FRANCISCO, CA 231,880231.9k $16.3m $16.3m 3.05% Reduced -86.1k -86,100
28 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 213,480213.5k $15.1m $15.1m 0.03% Reduced -15.8k -15,793
29 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 210,466210.5k $14.8m $14.8m 0.00% Added +184.4k +184,408
30 Alberta Investment Management Corp 0.09% of their portfolio EDMONTON, A0 175,000175.0k $12.3m $12.3m 0.09% Unchanged
31 ANGELO GORDON & CO., L.P. 1.30% of their portfolio NEW YORK, NY 150,000150.0k $10.6m $10.6m 1.30% Unchanged
32 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 147,800147.8k $10.4m $10.4m 0.00% Unchanged
33 LORD, ABBETT & CO. LLC 0.03% of their portfolio JERSEY CITY, NJ 145,940145.9k $10.3m $10.3m 0.03% Reduced -21.3k -21,273
34 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 126,091126.1k $8.9m $8.9m 0.00% Added +34.5k +34,486
35 Skaana Management L.P. 2.87% of their portfolio BROOKLYN, NY 93,02993.0k $6.5m $6.5m 2.87% Reduced -86.3k -86,307
36 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 89,73089.7k $6.3m $6.3m 0.00% Added +7.4k +7,446
37 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 80,28480.3k $5.6m $5.6m 0.00% Added +50.9k +50,947
38 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 76,64376.6k $5.4m $5.4m 0.00% Reduced -72.6k -72,558
39 CSS LLC/IL 0.29% of their portfolio CHICAGO, IL 68,55068.5k $4.8m $4.8m 0.29% Added +40.3k +40,255
40 FEDERATED HERMES, INC. 0.01% of their portfolio PITTSBURGH, PA 60,00060.0k $4.2m $4.2m 0.01% Unchanged
41 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 57,23557.2k $7.6m $7.6m 0.01% Reduced -26.4k -26,409
42 LAFFER TENGLER INVESTMENTS, INC. 0.57% of their portfolio Scottsdale, AZ 51,42051.4k $3.6m $3.6m 0.57% Reduced -30 -30
43 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 49,15349.2k $3.5m $3.5m 0.00% New
44 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 47,76447.8k $3.4m $3.4m 0.00% Unchanged
45 Morse Asset Management, Inc 0.67% of their portfolio DARIEN, CT 47,42547.4k $3.3m $3.3m 0.67% Reduced -50 -50
46 Penserra Capital Management LLC 0.04% of their portfolio ORINDA, CA 43,59343.6k $3.1m $3.1m 0.04% Reduced -13.7k -13,684
47 WOLVERINE ASSET MANAGEMENT LLC 0.04% of their portfolio CHICAGO, IL 42,47742.5k $3.0m $3.0m 0.04% Added +21.4k +21,382
48 PALISADE CAPITAL MANAGEMENT, LP 0.06% of their portfolio FORT LEE, NJ 29,82029.8k $2.1m $2.1m 0.06% Unchanged
49 RATIONAL ADVISORS, INC. 0.21% of their portfolio San Juan, PR 29,70029.7k $2.1m $2.1m 0.21% Reduced -86.1k -86,100
50 Alken Asset Management Ltd 39.12% of their portfolio LONDON, X0 26,60026.6k $1.9m $1.9m 39.12% Unchanged
51 Uniplan Investment Counsel, Inc. 0.16% of their portfolio MILWAUKEE, WI 23,70823.7k $1.7m $1.7m 0.16% Added +385 +385
52 AEGON USA Investment Management, LLC 1.07% of their portfolio CEDAR RAPIDS, IA 22,71322.7k $1.6m $1.6m 1.07% Unchanged
53 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 21,00021.0k $1.5m $1.5m 0.01% Reduced -7.0k -7,000
54 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 17,72217.7k $1.2m $1.2m 0.00% Added +9.7k +9,701
55 Capital International, Inc./CA/ 0.01% of their portfolio Los Angeles, CA 17,58417.6k $1.2m $1.2m 0.01% Unchanged
56 Morningstar Investment Management LLC 0.03% of their portfolio CHICAGO, IL 11,18611.2k $786.0k $786.0k 0.03% New
57 Central Pacific Bank - Trust Division 0.08% of their portfolio HONOLULU, HI 9,2009.2k $646.6k $646.6k 0.08% Reduced -2.2k -2,165
58 Calamos Wealth Management LLC 0.02% of their portfolio NAPERVILLE, IL 8,2378.2k $578.9k $578.9k 0.02% Reduced -605 -605
59 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 7,4647.5k $524.6k $524.6k 0.00% Added +330 +330
60 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 5,1505.2k $361.9k $361.9k 0.00% Unchanged
61 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 4,5764.6k $321.6k $321.6k 0.00% Added +363 +363
62 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 4,5524.6k $319.9k $319.9k 0.00% Reduced -1.7k -1,685
63 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 4,2204.2k $296.6k $296.6k 0.00% Reduced -65 -65
64 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 4,1364.1k $288.4k $288.4k 0.00% Reduced -194 -194
65 Elequin Capital, LP 0.02% of their portfolio NEW YORK, NY 3,9003.9k $275.0k $275.0k 0.02% New
66 Warberg Asset Management LLC 0.08% of their portfolio WINNETKA, IL 3,8733.9k $272.5k $272.5k 0.08% New
67 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 3,4573.5k $243.0k $243.0k 0.00% Reduced -909 -909
68 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 2,9613.0k $208.1k $208.1k 0.00% Added +46 +46
69 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 2,8462.8k $200.0k $200.0k 0.00% New
70 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 1,6521.7k $23 $23 0.00% New
71 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 811811 $57.0k $57.0k 0.00% Added +175 +175
72 Colonial Trust Advisors 0.00% of their portfolio SPARTANBURG, SC 696696 $48.9k $48.9k 0.00% Unchanged
73 VIRTUS ADVISERS, LLC 0.02% of their portfolio HARTFORD, CT 600600 $42.3k $42.3k 0.02% New
74 UBS Group AG 0.00% of their portfolio ZURICH, V8 548548 $38.5k $38.5k 0.00% Added +8 +8
75 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 297297 $20.9k $20.9k 0.00% Added +23 +23
76 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 265265 $18.6k $18.6k 0.00% Unchanged
77 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 100100 $7.0k $7.0k 0.00% Reduced -698 -698
78 COMERICA BANK 0.00% of their portfolio DALLAS, TX 9090 $6.3k $6.3k 0.00% Unchanged
79 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 8585 $6.0k $6.0k 0.00% Unchanged
80 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 5959 $4.1k $4.1k 0.00% Unchanged
81 TD PRIVATE CLIENT WEALTH LLC 0.00% of their portfolio NEW YORK, NY 1212 $843 $843 0.00% Reduced -6 -6