BlackRock units hold 11.6M Apollo Commercial shares (NYSE: ARI)

Rhea-AI Filing Summary

Apollo Commercial Real Estate Finance, Inc. ownership update: BlackRock, Inc. reports beneficial ownership of 11,616,706 shares, representing 8.9% of the common stock, with 11,343,863 shares of sole voting power. This filing is Amendment No. 4 and reflects holdings by certain Reporting Business Units.

Insights

Institutional Ownership Analyst

BlackRock's Schedule 13G/A shows a sizeable passive stake in ARI.

BlackRock reports 11,616,706 shares (8.9%) held by Reporting Business Units, with 11,343,863 sole voting power. The filing identifies passive beneficial ownership rather than an activist intent.

Holding size and voting power are factual; subsequent filings would reveal changes. Timing tied to the reported ownership and the amendment date 07/08/2026.

SEC Compliance Specialist

Filing complies with Schedule 13G/A disclosure for large passive holders.

The form cites SEC Release guidance and specifies the holdings are aggregated across Reporting Business Units. It states various persons may receive dividends or proceeds but no single other person exceeds 5.0%.

Amendments like this update reported counts; regulatory focus is on accuracy of voting and dispositive power figures.

Key Figures

Beneficial ownership: 11,616,706 shares Percent of class: 8.9% Sole voting power: 11,343,863 shares +3 more

6 metrics

Beneficial ownership 11,616,706 shares reported as beneficially owned (Schedule 13G/A)

Percent of class 8.9% percentage of common stock reported

Sole voting power 11,343,863 shares shares with sole power to vote

Sole dispositive power 11,616,706 shares shares with sole power to dispose

Reference date 06/30/2026 date tied to the reported holdings

Signature date 07/08/2026 date the amendment was signed

Key Terms

Schedule 13G/A, beneficially owned, sole dispositive power, Reporting Business Units

4 terms

Schedule 13G/A regulatory

"In accordance with SEC Release No. 34-39538 (January 12, 1998), this reflects the securities beneficially owned"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned financial

"Amount beneficially owned: 11616706 (b) Percent of class: 8.9 %"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"(iii) Sole power to dispose or to direct the disposition of: 11616706"

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.

Reporting Business Units financial

"reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units"

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

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Available on EDGAR 07/08/2026 - 11:13 AM Accepted by SEC EDGAR 07/08/2026 - 11:12 AM Learn about SEC filing dates

FAQ

How many ARI shares does BlackRock report owning?

BlackRock reports beneficial ownership of 11,616,706 shares of Apollo Commercial Real Estate Finance, Inc., representing 8.9% of the common stock. The filing also shows 11,343,863 shares of sole voting power held by Reporting Business Units.

Does BlackRock control voting of the shares it reports for ARI?

The filing states Reporting Business Units have 11,343,863 shares with sole voting power and 11,616,706 shares with sole dispositive power. These figures indicate voting and sale authority are held at the Reporting Business Unit level as disclosed.

Is the BlackRock position in ARI an active or passive stake?

This Schedule 13G/A reports holdings under the passive investor reporting framework. It aggregates securities for certain Reporting Business Units and does not indicate an active or control intent; the form reflects beneficial ownership classification, not activist positions.

What date and amendment number does the ARI filing show?

The cover shows CUSIP 03762U105 with a reference date 06/30/2026 and the filing is labeled Amendment No. 4. The signature block is dated 07/08/2026, which finalizes the amended disclosure by the reporting person.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Apollo Commercial Real Estate Finance, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

03762U105

(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): 03762U105

1

Names of Reporting Persons

BlackRock, 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,343,863.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,616,706.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,616,706.00

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)

8.9 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Apollo Commercial Real Estate Finance, Inc.
(b)	Address of issuer's principal executive offices: 9 West 57th Street, 42nd Floor NEW YORK NY 10019
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 03762U105
Item 4.	Ownership
(a)	Amount beneficially owned: 11616706
(b)	Percent of class: 8.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11343863
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 11616706
	(iv) Shared power to dispose or to direct the disposition of: 0
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. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of Apollo Commercial Real Estate Finance, Inc.. No one person's interest in the common stock of Apollo Commercial Real Estate Finance, Inc. is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
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.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	07/08/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7