APG: Schedule 13G/A shows T. Rowe Price at 4.8% ownership

Rhea-AI Filing Summary

API Group Corp (APG) was the subject of an amended Schedule 13G, with T. Rowe Price Associates, Inc. reporting beneficial ownership of 20,023,986 shares, equal to 4.8% of the common stock as of September 30, 2025.

The filer reported sole voting power over 19,443,418 shares and sole dispositive power over 20,022,886 shares, with no shared voting or dispositive power. The filing indicates the position is held by an investment adviser (IA) and includes a certification that the securities were acquired and are held in the ordinary course, not to change or influence control.

Insights

Equity ownership and governance analyst

Passive 13G/A shows a 4.8% APG stake held by T. Rowe Price.

T. Rowe Price Associates, Inc. reported beneficial ownership of 20,023,986 APG shares, representing 4.8% as of September 30, 2025. Reported powers include sole voting over 19,443,418 shares and sole dispositive over 20,022,886 shares, with no shared powers.

The filer classified itself as an investment adviser (IA) and certified the position is held in the ordinary course and not to influence control, aligning with a passive Schedule 13G filing. Item 5 reflects ownership of 5 percent or less of the class.

Actual market impact depends on future portfolio decisions by the filer. Subsequent ownership updates, if any, would appear in future beneficial ownership reports.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

API GROUP CORP

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

00187Y100

(CUSIP Number)

09/30/2025

(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. 00187Y100

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 19,443,418.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 20,022,886.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,023,986.00

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)

4.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: API GROUP CORP
(b)	Address of issuer's principal executive offices: CO API GROUP, INC., 1100 OLD HIGHWAY 8 NW, NEW BRIGHTON, MN, 55112
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 00187Y100
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: 20023986
(b)	Percent of class: 4.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 19443418
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 20022886
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	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. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	11/14/2025

FAQ

What did T. Rowe Price report in APG’s Schedule 13G/A?

T. Rowe Price Associates, Inc. reported beneficial ownership of 20,023,986 shares, or 4.8% of APG common stock as of September 30, 2025.

What voting and dispositive powers were disclosed for APG (APG)?

The filer reported sole voting power over 19,443,418 shares and sole dispositive power over 20,022,886 shares, with no shared powers.

Is T. Rowe Price’s APG stake passive or control-seeking?

The certification states the securities are held in the ordinary course and not to change or influence control, consistent with a passive 13G.

What is the event date for T. Rowe Price’s APG ownership?

The date of event is September 30, 2025.

What is T. Rowe Price’s filer classification in the APG 13G/A?

It is classified as an Investment Adviser (IA).

Does the APG 13G/A indicate group ownership?

Items indicate no group; shared voting and dispositive powers are 0.

What is the CUSIP for APG common stock in this filing?

The CUSIP listed is 00187Y100.