Air Products and Chemicals (NYSE: APD) holder Vanguard at 10.02% ownership

Rhea-AI Filing Summary

The Vanguard Group filed an amended Schedule 13G showing its beneficial ownership of 22,304,217 shares of Air Products and Chemicals Inc common stock, representing 10.02% of the class as of December 31, 2025.

Vanguard reports no sole voting power, shared voting power over 1,382,868 shares, sole dispositive power over 20,059,566 shares, and shared dispositive power over 2,244,651 shares. The shares are held for clients in the ordinary course of business, not to change or influence control, and no single other person has more than 5% economic interest in the securities.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 14)

Air Products and Chemicals Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

009158106

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 009158106

1

Names of Reporting Persons

The Vanguard Group

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,382,868.00
7	Sole Dispositive Power 20,059,566.00
8	Shared Dispositive Power 2,244,651.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

22,304,217.00

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)

10.02 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Air Products and Chemicals Inc
(b)	Address of issuer's principal executive offices: 1940 Air Products Blvd, Allentown, PA, 18106
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 009158106
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: 22304217
(b)	Percent of class: 10.02 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1382868
	(iii) Sole power to dispose or to direct the disposition of: 20059566
	(iv) Shared power to dispose or to direct the disposition of: 2244651
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. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
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.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	01/07/2026

FAQ

What stake does The Vanguard Group report in Air Products and Chemicals (APD)?

The Vanguard Group reports beneficial ownership of 22,304,217 shares of Air Products and Chemicals Inc common stock, representing 10.02% of the outstanding class as of December 31, 2025.

What type of filing did Vanguard submit regarding APD and what does it indicate?

Vanguard submitted an amended Schedule 13G/A, which is a passive ownership report indicating it holds more than 5% of Air Products and Chemicals Inc common stock without the purpose of changing or influencing control.

How much voting power does Vanguard report over APD shares?

For Air Products and Chemicals Inc, Vanguard reports 0 shares with sole voting power and 1,382,868 shares with shared voting power.

What dispositive powers does Vanguard have over its APD holdings?

Vanguard reports sole dispositive power over 20,059,566 shares of Air Products and Chemicals Inc common stock and shared dispositive power over an additional 2,244,651 shares.

Who ultimately benefits from Vanguard’s APD shareholdings?

The filing states that The Vanguard Group, Inc.'s clients, including registered investment companies and other managed accounts, have the right to receive or direct the receipt of dividends and sale proceeds from the Air Products and Chemicals Inc shares, and no single other person’s interest exceeds 5% of the class.

When was the ownership position in APD measured for this Vanguard filing?

The reported beneficial ownership of Air Products and Chemicals Inc common stock reflects Vanguard’s position as of December 31, 2025.

What does Vanguard say about its intent regarding control of Air Products and Chemicals?

Vanguard certifies that the Air Products and Chemicals Inc securities were acquired and are held in the ordinary course of business and not for the purpose of, or with the effect of, changing or influencing control of the issuer.