LDB C LLC filed a Schedule 13D reporting beneficial ownership of 3,000,000 shares of Apollo Global Management common stock, representing approximately 0.52% of the outstanding shares based on 580,422,573 shares as of November 5, 2025.
LDB C LLC is an investment vehicle for trusts for the benefit of Leon D. Black’s family members and holds sole voting and dispositive power over these shares. It received the 3,000,000 shares as a contribution from Socrates Trust on December 1, 2025.
The filing also describes LDB C LLC joining a Stockholders Agreement with Apollo and other principals, which addresses board nomination rights, voting arrangements, and registration rights. Separately, LDB C LLC entered into a variable share forward transaction with Wells Fargo, pledging 3,000,000 Apollo shares while retaining voting and dividend rights unless a default occurs.
FMR LLC has disclosed a significant stake in Apollo Global Management, Inc. common stock. As of December 31, 2025, FMR LLC reported beneficial ownership of 30,952,886.65 shares, representing 5.3% of Apollo’s outstanding common stock.
FMR LLC reported sole voting power over 26,615,007.83 shares and sole dispositive power over the full 30,952,886.65 shares, with no shared voting or dispositive power. Abigail P. Johnson is separately listed as a reporting person with sole dispositive power over the same share amount, reflecting her control position over FMR LLC.
The filing states that these securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Apollo Global Management, Inc. It also notes that one or more other persons may have rights to dividends or sale proceeds, but no other individual holds more than five percent of the common stock through these holdings.
Apollo Global Management provided an early look at its fourth-quarter 2025 performance from alternative investments. The company estimates alternative net investment income of about $325 million (pre-tax) for the quarter ended December 31, 2025, which it says equates to an annualized return of 10% on alternative net investments.
Within this, Apollo estimates Athene’s pooled investment vehicle, which holds most of its alternative portfolio, also earned an annualized return of 10% in the quarter, while Athene’s other alternative investments, including retirement services platforms, earned an estimated 7% annualized return. Management emphasizes these are preliminary, unaudited figures that may change once full closing procedures and the external review process are completed, and they are a component of the company’s internal performance metrics for its Retirement Services segment.
Joshua Harris reports beneficial ownership of 34,313,690 shares of Apollo Global Management, Inc. common stock, representing 5.9% of the class, based on 580,422,573 shares outstanding as of November 5, 2025.
The amendment describes an internal transfer of 1,000,000 shares from MJH Partners II LLC to estate-planning vehicle MJH Partners III LLC and a delayed draw variable share forward sale transaction between MJH Partners III LLC and Citibank, N.A. covering up to 1,000,000 pledged shares. MJH Partners III LLC retains ownership, voting and ordinary dividend rights in the pledged shares during the term (and if the contract is settled in cash), while settlement on specified dates in December 2030 will involve share or cash delivery determined by the stock price relative to a Floor Price and Cap Price set after a hedging period.
Apollo Global Management is making significant long-term equity awards and introducing added flexibility around executive equity settlement. The Compensation Committee approved new restricted share unit (RSU) grants valued at $10 million for Chief Financial Officer Martin Kelly and $13.5 million for Chief Legal Officer Whitney Chatterjee, to be granted on December 18, 2025. These RSUs are designed to support retention, reflect market-competitive pay versus peers, and tie compensation to company performance.
The RSUs are intended to provide approximately $3.3 million and $4.5 million per year over three years and will vest based on a performance fee income requirement, with underlying shares delivered in 2029. Delivery is delayed to 2031 if either executive voluntarily resigns before December 31, 2028, and no shares are delivered if certain restrictive covenants are breached or employment is terminated for cause. Apollo also approved a deferral program allowing executives to postpone equity settlement. Co-President Scott Kleinman elected to defer settlement of 500,000 performance-based RSUs to 2029 and 2,000,000 RSUs to 2032, with dividend equivalents on the performance-based RSUs starting April 1, 2027 if performance criteria are met.
Apollo Global Management, Inc. reported an insider sale by its Chief Legal Officer, who is an officer and not a director or 10% owner. On 12/10/2025, the reporting person sold 8,500 shares of common stock in an open-market transaction at a weighted average price of $146.0302 per share, with individual trades ranging from $145.78 to $146.435. After this sale, the reporting person beneficially owned 74,692 shares, which includes 54,997 restricted stock units (RSUs) granted under the 2019 Omnibus Equity Incentive Plan. Each RSU represents the contingent right to receive one share of Apollo common stock as the awards vest according to their schedules, assuming the officer remains in service through the vesting dates.
APO filed a notice of proposed sale of restricted securities under Rule 144. The filer plans to sell 1,000,000 shares of Common Stock, par value $0.00001 per share, through Citigroup Global Markets Inc. on the NYSE.
The planned sale has an aggregate market value of $149,080,000.00. The filing states that 580,422,573 shares of the same class were outstanding at the time referenced. The 1,000,000 shares to be sold were acquired as a share contribution from Joshua Harris on 12/11/2025, in exchange for Apollo Operating Group Units received at completion of the Apollo–Athene merger, with those units fully vested as of 12/31/11. The signer represents that they are not aware of undisclosed material adverse information about the issuer and acknowledges the consequences of intentional misstatements.
Apollo Global Management shareholder files notice to sell restricted stock
A holder of Apollo Global Management common stock filed a Form 144 notice covering the proposed sale of 8,500 shares through Morgan Stanley Smith Barney LLC on the NYSE, with an indicated aggregate market value of $1,241,256.70. The shares are part of the company’s common stock, which had 580,422,573 shares outstanding at the time noted in the form. The securities to be sold were acquired on February 12, 2025 as restricted stock vesting under a registered plan from the issuer, as compensation for services rendered.
Apollo Global Management, Inc. insider filing reports an internal share transfer involving a large holder. On December 1, 2025, a trust established for the benefit of the family of Leon D. Black, as the reporting person, contributed 3,000,000 shares of Apollo Global Management common stock to LDB C LLC, described as a subsidiary.
The transaction is coded as type "J," indicating an "other" form of disposition rather than an open-market sale. Following this contribution, the reporting person beneficially owns 29,629,251 shares of Apollo common stock on a direct basis. The reporting person notes it may be deemed part of a stockholder "group" under a stockholders agreement but expressly disclaims beneficial ownership of any securities not directly owned, except to the extent of its pecuniary interest.
A shareholder of APO has filed a notice of proposed sale under Rule 144 covering 3,000,000 shares of common stock. The shares are to be sold through Wells Fargo Securities, LLC on the NYSE, with an indicated aggregate market value of $396,240,000.00. The filing notes that 580,422,573 shares of the same class were outstanding and lists an approximate sale date of 12/03/2025. The shares were acquired on 12/01/2025 as a contribution from Socrates Trust, with the original acquisition by the donor dated 01/01/2022 as merger consideration.