APA Corporation (APA): Hotchkis & Wiley and Vanguard funds detail stakes nearing 9% and 5%

Rhea-AI Filing Summary

Hotchkis and Wiley Capital Management, LLC and Vanguard Windsor II Fund report their beneficial ownership of APA Corporation common stock in an amended Schedule 13G filing. Hotchkis and Wiley Capital Management, LLC reports beneficial ownership of 31,695,303 APA shares, representing 8.97% of the common stock outstanding. Vanguard Windsor II Fund reports beneficial ownership of 17,561,357 shares, or 4.97% of the class.

Hotchkis and Wiley Capital Management, LLC has sole voting power over 29,771,887 shares and sole dispositive power over 31,695,303 shares, while Vanguard Windsor II Fund has sole voting and dispositive power over 17,561,357 shares. The ownership percentages are based on 353,470,227 APA shares outstanding as of April 30, 2026, as reported by APA Corporation. The shares are owned by clients of Hotchkis and Wiley Capital Management, LLC, and the adviser disclaims beneficial ownership except to the extent of any pecuniary interest.

Key Figures

Hotchkis & Wiley shares owned: 31,695,303 shares Hotchkis & Wiley percent of class: 8.97% Vanguard Windsor II Fund shares owned: 17,561,357 shares +4 more

7 metrics

Hotchkis & Wiley shares owned 31,695,303 shares Beneficially owned APA common stock reported by Hotchkis and Wiley Capital Management, LLC

Hotchkis & Wiley percent of class 8.97% Percent of APA common stock beneficially owned by Hotchkis and Wiley Capital Management, LLC

Vanguard Windsor II Fund shares owned 17,561,357 shares Beneficially owned APA common stock reported by Vanguard Windsor II Fund

Vanguard Windsor II Fund percent of class 4.97% Percent of APA common stock beneficially owned by Vanguard Windsor II Fund

APA shares outstanding 353,470,227 shares Common stock outstanding as of April 30, 2026, per APA Form 10-Q

Hotchkis & Wiley sole voting power 29,771,887 shares APA shares over which Hotchkis and Wiley Capital Management, LLC has sole voting power

Vanguard Windsor II Fund sole voting power 17,561,357 shares APA shares over which Vanguard Windsor II Fund has sole voting power

Key Terms

beneficial ownership, sole voting power, sole dispositive power, Schedule 13G, +2 more

6 terms

beneficial ownership financial

"Item 4. | Ownership (a) | Amount beneficially owned"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

sole voting power financial

"5 | Sole Voting Power 29,771,887.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"7 | Sole Dispositive Power 31,695,303.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G regulatory

"The securities as to which this Schedule is filed by HWCM"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

pecuniary interest financial

"disclaims beneficial ownership ... except to the extent of its pecuniary interest"

Investment Company Act of 1940 regulatory

"investment company registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How many APA (APA) shares does Hotchkis and Wiley Capital Management, LLC beneficially own?

Hotchkis and Wiley Capital Management, LLC reports beneficial ownership of 31,695,303 APA common shares. This represents 8.97% of APA’s outstanding common stock, based on 353,470,227 shares outstanding as of April 30, 2026.

What is Vanguard Windsor II Fund’s ownership stake in APA (APA)?

Vanguard Windsor II Fund beneficially owns 17,561,357 APA common shares. This position represents 4.97% of APA’s outstanding common stock, calculated using 353,470,227 shares outstanding as of April 30, 2026.

What voting power does Hotchkis and Wiley Capital Management, LLC have over APA (APA) shares?

Hotchkis and Wiley Capital Management, LLC has sole voting power over 29,771,887 APA shares and no shared voting power. It has sole dispositive power over 31,695,303 shares and no shared dispositive power.

How many APA (APA) shares are used to calculate these ownership percentages?

The reported ownership percentages are based on 353,470,227 APA common shares outstanding. This figure comes from APA Corporation’s Form 10-Q, which stated the outstanding share count as of April 30, 2026.

Does Hotchkis and Wiley Capital Management, LLC claim full beneficial ownership of its APA (APA) position?

Hotchkis and Wiley Capital Management, LLC states that the APA shares are owned by its advisory clients. It disclaims beneficial ownership of the reported shares, except to the extent of its pecuniary interest in those shares, if any.

Who ultimately receives dividends and sale proceeds from the APA (APA) shares managed by Hotchkis and Wiley Capital Management, LLC?

The APA securities reported for Hotchkis and Wiley Capital Management, LLC are owned of record by its clients. Those clients have the right to receive, or direct the receipt of, dividends and sale proceeds from these shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

APA CORPORATION

(Name of Issuer)

Common Stock, $0.625 par value

(Title of Class of Securities)

03743Q108

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 03743Q108

1

Names of Reporting Persons

Hotchkis and Wiley Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 29,771,887.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 31,695,303.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

31,695,303.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.97 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 03743Q108

1

Names of Reporting Persons

Vanguard Windsor II Fund

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 17,561,357.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 17,561,357.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

17,561,357.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.97 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: APA CORPORATION
(b)	Address of issuer's principal executive offices: 2000 W. Sam Houston Pkwy. S., Suite 200, Houston, Texas 77042-3643
Item 2.
(a)	Name of person filing: Hotchkis and Wiley Capital Management, LLC Vanguard Windsor II Fund
(b)	Address or principal business office or, if none, residence: Hotchkis and Wiley Capital Management, LLC 601 S. Figueroa Street, 39th Fl Los Angeles, CA 90017 Vanguard Windsor II Fund Post Office Box 2600 Valley Forge, PA 19482
(c)	Citizenship: Hotchkis and Wiley Capital Management, LLC: Delaware Vanguard Windsor II Fund: Delaware
(d)	Title of class of securities: Common Stock, $0.625 par value
(e)	CUSIP No.: 03743Q108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Hotchkis and Wiley Capital Management, LLC: 31,695,303 Vanguard Windsor II Fund: 17,561,357
(b)	Percent of class: Hotchkis and Wiley Capital Management, LLC: 8.97% Vanguard Windsor II Fund: 4.97%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Hotchkis and Wiley Capital Management, LLC: 29,771,887 Vanguard Windsor II Fund: 17,561,357
	(ii) Shared power to vote or to direct the vote: Hotchkis and Wiley Capital Management, LLC: 0 Vanguard Windsor II Fund: 0
	(iii) Sole power to dispose or to direct the disposition of: Hotchkis and Wiley Capital Management, LLC: 31,695,303 Vanguard Windsor II Fund: 17,561,357
	(iv) Shared power to dispose or to direct the disposition of: Hotchkis and Wiley Capital Management, LLC: 0 Vanguard Windsor II Fund: 0 The shares of the Issuer's Common Stock (the "Common Shares") are owned by certain investment vehicles and/or accounts managed or sub-advised by Hotchkis and Wiley Capital Management, LLC ("HWCM"), including Vanguard Windsor II Fund. Certain HWCM clients have retained the power to vote the Common Shares that they directly own. Accordingly, HWCM has the power to dispose of more Common Shares than it can vote. HWCM disclaims beneficial ownership of the reported shares, except to the extent of its pecuniary interest in such shares, if any. Percentage based on 353,470,227 shares of Common Stock outstanding as of April 30, 2026, as reported by the Issuer in the Form 10-Q.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Hotchkis and Wiley Capital Management, LLC: The securities as to which this Schedule is filed by HWCM, in its capacity as investment adviser, are owned of record by clients of HWCM. Those clients have the right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of, such securities. No such client is known to have such right or power with respect to more than five percent of this class of securities. Vanguard Windsor II Fund: Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Hotchkis and Wiley Capital Management, LLC

Signature:	Tina H. Kodama
Name/Title:	Tina H. Kodama | Chief Compliance Officer
Date:	08/12/2026

Vanguard Windsor II Fund

Signature:	Tina H. Kodama
Name/Title:	Tina H. Kodama | Authorized Person of Sub-Advisor (Hotchkis & Wiley Capital Management, LLC), Chief Compliance Officer
Date:	08/12/2026

Exhibit Information

Exhibit I JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Date: August 12, 2026 Hotchkis and Wiley Capital Management, LLC By: /s/ Tina Kodama Name: Tina Kodama Title: Chief Compliance Officer Vanguard Windsor II Fund By: Hotchkis & Wiley Capital Management, LLC (Sub-Advisor) Its: Authorized Person of Sub-Advisor By: /s/ Tina Kodama Name: Tina Kodama Title: Chief Compliance Officer