Vault-13

APOLLO GLOBAL MGMT INC APO 6.75 07.31.26

SER A MAND CNV · PUBLIC · CUSIP 03769M304

82 institutional holders +1 vs Q3 2025
29,543,43529.5m shares reported held*
$2.1bnreported value*
8 new 19 added 39 reduced 9 sold out net sold ≈ $50.0m (-608.0k 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 ($5.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $67.28.

Trends to Q4 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: 81Q4 25: 8282Q3 23Q1 24Q3 24Q1 25Q3 25Q4 25
Numbers
QuarterHolders
Q3 202360
Q4 202360
Q1 202462
Q2 202469
Q3 202477
Q4 202486
Q1 202579
Q2 202581
Q3 202581
Q4 202582

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q1 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 25Q3 25: 32 bought or addedQ3 25: 33 cut or sold outQ4 25: 27 bought or addedQ4 25: 48 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20242532
Q2 20242531
Q3 20243128
Q4 20243146
Q1 20253148
Q2 20253733
Q3 20253233
Q4 20252748

Biggest buyers

Capital International Investors Added +1,189,020+1.2m
Shaolin Capital Management LLC Added +715,000+715.0k
FMR LLC Added +457,402+457.4k
Sculptor Capital LP Added +309,293+309.3k
SUSQUEHANNA ADVISORS GROUP, INC. New +300,000+300.0k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +184,062+184.1k
Capital Research Global Investors Added +169,142+169.1k
BlueCrest Capital Management Ltd New +103,069+103.1k
ANGELO GORDON & CO., L.P. Added +100,000+100.0k
D. E. Shaw & Co., Inc. Added +100,000+100.0k

Biggest sellers

SONA ASSET MANAGEMENT (US) LLC Reduced -1,200,000-1.2m
Third Point LLC Sold out -900,000-900.0k
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduced -578,942-578.9k
TWO SIGMA INVESTMENTS, LP Reduced -322,709-322.7k
AMERIPRISE FINANCIAL INC Reduced -160,000-160.0k
Calamos Advisors LLC Reduced -148,583-148.6k
JPMORGAN CHASE & CO Reduced -146,722-146.7k
BANK OF AMERICA CORP /DE/ Reduced -117,209-117.2k
BlackRock, Inc. Reduced -102,725-102.7k
WELLS FARGO & COMPANY/MN Reduced -93,626-93.6k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 3,761,7003.8m $5.7m $5.7m 0.01% Unchanged
2 Shaolin Capital Management LLC 10.19% of their portfolio Miami, FL 3,565,0003.6m $269.1m $269.1m 10.19% Added +715.0k +715,000
3 FRANKLIN RESOURCES INC 0.04% of their portfolio San Mateo, CA 2,366,7102.4m $178.7m $178.7m 0.04% Reduced -54.3k -54,319
4 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,196,9952.2m $165.9m $165.9m 0.00% Reduced -102.7k -102,725
5 Capital International Investors 0.03% of their portfolio Los Angeles, CA 2,159,4202.2m $163.1m $163.1m 0.03% Added +1.2m +1,189,020
6 Capital Research Global Investors 0.02% of their portfolio Los Angeles, CA 1,361,3161.4m $102.8m $102.8m 0.02% Added +169.1k +169,142
7 ADVENT CAPITAL MANAGEMENT /DE/ 2.23% of their portfolio NEW YORK, NY 1,277,5821.3m $96.4m $96.4m 2.23% Reduced -43.1k -43,088
8 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 1,275,0001.3m $96.3m $96.3m 0.04% Unchanged
9 Calamos Advisors LLC 0.39% of their portfolio NAPERVILLE, IL 1,270,1381.3m $95.9m $95.9m 0.39% Reduced -148.6k -148,583
10 VICTORY CAPITAL MANAGEMENT INC 0.05% of their portfolio San Antonio, TX 1,177,4041.2m $88.9m $88.9m 0.05% Reduced -17.0k -17,033
11 FMR LLC 0.00% of their portfolio BOSTON, MA 1,071,5311.1m $80.7m $80.7m 0.00% Added +457.4k +457,402
12 Sculptor Capital LP 0.86% of their portfolio New York, NY 955,591955.6k $72.2m $72.2m 0.86% Added +309.3k +309,293
13 SONA ASSET MANAGEMENT (US) LLC 2.20% of their portfolio NEW YORK, NY 900,000900.0k $67.9m $67.9m 2.20% Reduced -1.2m -1,200,000
14 INFRASTRUCTURE CAPITAL ADVISORS, LLC 6.46% of their portfolio New York, NY 776,823776.8k $58.7m $58.7m 6.46% Added +184.1k +184,062
15 MacKay Shields LLC 1.89% of their portfolio New York, NY 714,292714.3k $53.9m $53.9m 1.89% Reduced -7.6k -7,555
16 NORGES BANK 0.00% of their portfolio OSLO, Q8 600,000600.0k $45.3m $45.3m 0.00% Not comparable
17 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 570,000570.0k $43.0m $43.0m 0.03% Added +100.0k +100,000
18 Clearbridge Investments, LLC 0.03% of their portfolio NEW YORK, NY 469,184469.2k $35.4m $35.4m 0.03% Added +6.0k +6,000
19 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 427,626427.6k $32.3m $32.3m 0.05% Reduced -322.7k -322,709
20 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 404,325404.3k $30.5m $30.5m 0.00% Added +5.4k +5,433
21 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 354,119354.1k $26.7m $26.7m 0.01% Reduced -93.6k -93,626
22 SUSQUEHANNA ADVISORS GROUP, INC. 0.73% of their portfolio BALA CYNWYD, PA 300,000300.0k $22.7m $22.7m 0.73% New
23 ANGELO GORDON & CO., L.P. 1.78% of their portfolio NEW YORK, NY 250,000250.0k $18.8m $18.8m 1.78% Added +100.0k +100,000
24 Magnetar Financial LLC 0.19% of their portfolio EVANSTON, IL 250,000250.0k $18.9m $18.9m 0.19% Unchanged
25 SSI INVESTMENT MANAGEMENT LLC 1.23% of their portfolio Los Angeles, CA 240,205240.2k $18.1m $18.1m 1.23% Reduced -34.9k -34,930
26 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 220,940220.9k $16.7m $16.7m 0.03% Added +7.5k +7,460
27 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 217,312217.3k $16.4m $16.4m 0.00% Reduced -160.0k -160,000
28 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 197,068197.1k $14.9m $14.9m 0.00% Reduced -117.2k -117,209
29 Alberta Investment Management Corp 0.08% of their portfolio EDMONTON, A0 175,000175.0k $13.2m $13.2m 0.08% Unchanged
30 PIER 88 INVESTMENT PARTNERS LLC 2.90% of their portfolio SAN FRANCISCO, CA 171,880171.9k $13.0m $13.0m 2.90% Reduced -60.0k -60,000
31 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 140,281140.3k $10.6m $10.6m 0.00% Reduced -7.5k -7,519
32 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 104,760104.8k $7.9m $7.9m 0.00% Reduced -21.3k -21,331
33 BlueCrest Capital Management Ltd 0.30% of their portfolio ST HELIER, Y9 103,069103.1k $7.8m $7.8m 0.30% New
34 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 86,28486.3k $6.5m $6.5m 0.00% Added +6.0k +6,000
35 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 86,14686.1k $6.5m $6.5m 0.00% Reduced -3.6k -3,584
36 LORD, ABBETT & CO. LLC 0.02% of their portfolio JERSEY CITY, NJ 84,84084.8k $6.4m $6.4m 0.02% Reduced -61.1k -61,100
37 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 76,39376.4k $5.8m $5.8m 0.00% Reduced -250 -250
38 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 63,74463.7k $4.8m $4.8m 0.00% Reduced -146.7k -146,722
39 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio CAUSEWAY BAY, K3 63,40863.4k $4.8m $4.8m 0.01% Reduced -578.9k -578,942
40 FEDERATED HERMES, INC. 0.01% of their portfolio PITTSBURGH, PA 60,00060.0k $4.5m $4.5m 0.01% Unchanged
41 LAFFER TENGLER INVESTMENTS, INC. 0.59% of their portfolio Scottsdale, AZ 51,25051.2k $3.9m $3.9m 0.59% Reduced -170 -170
42 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.01% of their portfolio PHILADELPHIA, PA 47,76447.8k $3.6m $3.6m 0.01% First filing
43 Morse Asset Management, Inc 0.72% of their portfolio DARIEN, CT 47,72547.7k $3.6m $3.6m 0.72% Added +300 +300
44 Capital International, Inc./CA/ 0.03% of their portfolio Los Angeles, CA 47,07247.1k $3.6m $3.6m 0.03% Added +29.5k +29,488
45 Penserra Capital Management LLC 0.04% of their portfolio ORINDA, CA 44,39244.4k $3.4m $3.4m 0.04% Added +799 +799
46 Skaana Management L.P. 1.69% of their portfolio BROOKLYN, NY 41,12441.1k $3.1m $3.1m 1.69% Reduced -51.9k -51,905
47 PALISADE CAPITAL MANAGEMENT, LP 0.06% of their portfolio FORT LEE, NJ 28,90628.9k $2.2m $2.2m 0.06% Reduced -914 -914
48 LOOMIS SAYLES & CO L P 0.00% of their portfolio BOSTON, MA 27,36827.4k $4.0m $4.0m 0.00% Reduced -29.9k -29,867
49 RATIONAL ADVISORS, INC. 0.21% of their portfolio San Juan, PR 27,10027.1k $2.0m $2.0m 0.21% Reduced -2.6k -2,600
50 Alken Asset Management Ltd 32.93% of their portfolio LONDON, X0 26,60026.6k $2.0m $2.0m 32.93% Unchanged
51 AEGON USA Investment Management, LLC 1.21% of their portfolio CEDAR RAPIDS, IA 22,71322.7k $1.7m $1.7m 1.21% Unchanged
52 Uniplan Investment Counsel, Inc. 0.17% of their portfolio MILWAUKEE, WI 22,65222.7k $1.7m $1.7m 0.17% Reduced -1.1k -1,056
53 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 19,10919.1k $1.4m $1.4m 0.00% Reduced -30.0k -30,044
54 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 19,00019.0k $1.4m $1.4m 0.00% New
55 AGF MANAGEMENT LTD 0.00% of their portfolio TORONTO, A6 15,00015.0k $1.1m $1.1m 0.00% Reduced -6.0k -6,000
56 CSS LLC/IL 0.05% of their portfolio CHICAGO, IL 12,66512.7k $955.3k $955.3k 0.05% Reduced -55.9k -55,885
57 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 12,10812.1k $914.4k $914.4k 0.00% Reduced -5.6k -5,614
58 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 9,3309.3k $741.5k $741.5k 0.00% New
59 WOLVERINE ASSET MANAGEMENT LLC 0.01% of their portfolio CHICAGO, IL 8,7558.8k $660.7k $660.7k 0.01% Reduced -33.7k -33,722
60 Calamos Wealth Management LLC 0.02% of their portfolio NAPERVILLE, IL 8,2008.2k $619.3k $619.3k 0.02% Reduced -37 -37
61 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 7,2137.2k $544.7k $544.7k 0.00% Reduced -251 -251
62 Central Pacific Bank - Trust Division 0.07% of their portfolio HONOLULU, HI 7,1807.2k $542.2k $542.2k 0.07% Reduced -2.0k -2,020
63 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 5,1505.2k $388.9k $388.9k 0.00% Unchanged
64 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 4,5884.6k $346.5k $346.5k 0.00% Added +12 +12
65 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 4,3524.4k $328.7k $328.7k 0.00% Reduced -200 -200
66 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 3,9413.9k $290.3k $290.3k 0.00% Reduced -195 -195
67 ANGELES WEALTH MANAGEMENT, LLC 0.01% of their portfolio SANTA MONICA, CA 3,0003.0k $226.0k $226.0k 0.01% New
68 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 2,9432.9k $222.3k $222.3k 0.00% Reduced -18 -18
69 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,0532.1k $155.0k $155.0k 0.00% Added +1.5k +1,505
70 WHITTIER TRUST CO 0.00% of their portfolio SOUTH PASADENA, CA 1,7751.8k $141.1k $141.1k 0.00% New
71 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 1,6521.7k $25 $25 0.00% Unchanged
72 Colonial Trust Advisors 0.00% of their portfolio SPARTANBURG, SC 696696 $52.6k $52.6k 0.00% Unchanged
73 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 636636 $48.0k $48.0k 0.00% Reduced -175 -175
74 VIRTUS ADVISERS, LLC 0.02% of their portfolio HARTFORD, CT 600600 $45.2k $45.2k 0.02% Unchanged
75 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 565565 $42.7k $42.7k 0.00% Added +300 +300
76 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 274274 $20.7k $20.7k 0.00% Reduced -23 -23
77 COMERICA BANK 0.00% of their portfolio DALLAS, TX 125125 $9.4k $9.4k 0.00% Added +35 +35
78 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 8585 $6.4k $6.4k 0.00% Unchanged
79 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 8484 $6.3k $6.3k 0.00% New
80 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 5959 $4.5k $4.5k 0.00% Unchanged
81 TD PRIVATE CLIENT WEALTH LLC 0.00% of their portfolio NEW YORK, NY 1212 $906 $906 0.00% Unchanged
82 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 66 $454 $454 0.00% New