Apollo Management Holdings GP, LLC and affiliated Reporting Persons filed an amended Schedule 13G/A disclosing shared beneficial ownership of 129,609,000 shares of Rackspace Technology common stock, representing 52.0% of the class.
The filing lists related Apollo entities including AP Inception Co-Invest Borrower (69,609,000 shares, 27.9%) and AP Inception ML Borrower (60,000,000 shares, 24.1%). The percentages are calculated using 249,222,499 shares outstanding as of April 21, 2026, as stated in the issuer's proxy filed April 30, 2026. The Reporting Persons assert shared voting and dispositive power for the disclosed amounts and disclaim sole beneficial ownership.
Positive
None.
Negative
None.
Insights
Major shareholder block of 52.0% is disclosed with shared voting and dispositive power.
The report shows 129,609,000 shares tied to Apollo-related entities, labeled as shared voting and dispositive power. The filing also lists two large pooled vehicles holding 69,609,000 and 60,000,000 shares, respectively.
Key dependencies include the issuer's outstanding share count of April 21, 2026 used to compute 52.0%. Subsequent filings or changes in holdings will determine any governance influence; current disclosures include disclaimers of sole beneficial ownership.
Disclosure indicates concentrated institutional ownership across affiliated funds and managers.
The excerpt lists multiple Apollo entities and managers with shared dispositive power totaling 129,609,000 shares. The filing ties percentages to 249,222,499 shares outstanding as of April 21, 2026.
Practical implications depend on how shared authority is exercised in aggregate; the filing's repeated disclaimers and structured ownership chain should be reviewed in transaction- or governance-sensitive contexts and in future proxy materials.
Key Figures
Reported shares held by Management Holdings GP:129,609,000 sharesAggregate percent of class:52.0%AP Inception Co-Invest Borrower holdings:69,609,000 shares+2 more
5 metrics
Reported shares held by Management Holdings GP129,609,000 sharesreported beneficially owned amount
Aggregate percent of class52.0%based on 249,222,499 shares outstanding as of April 21, 2026
AP Inception Co-Invest Borrower holdings69,609,000 sharesreported beneficially owned amount (27.9%)
AP Inception ML Borrower holdings60,000,000 sharesreported beneficially owned amount (24.1%)
Shares outstanding used for percentages249,222,499 sharesas of April 21, 2026 per issuer proxy (filed April 30, 2026)
"Amount beneficially owned: Management Holdings GP 129,609,000"
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.
shared dispositive powerregulatory
"Shared Dispositive Power 129,609,000.00"
Schedule 13G/Aregulatory
"This statement is filed by ... the Reporting Persons"
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.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 10)
Rackspace Technology, Inc.
(Name of Issuer)
Common stock, par value $0.01 per share
(Title of Class of Securities)
750102105
(CUSIP Number)
03/31/2026
(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):
750102105
1
Names of Reporting Persons
Apollo Management Holdings GP, 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
0.00
6
Shared Voting Power
129,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
129,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
129,609,000.00
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)
52.0 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
AP Inception Co-Invest ML Borrower, L.P.
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
0.00
6
Shared Voting Power
69,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
69,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
69,609,000.00
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)
27.9 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
AP Inception ML Borrower, L.P.
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
0.00
6
Shared Voting Power
60,000,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
60,000,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
60,000,000.00
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)
24.1 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
AP Inception Co-Invest GP, 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
0.00
6
Shared Voting Power
69,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
69,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
69,609,000.00
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)
27.9 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
AP Inception Co-Invest ML GP, 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
0.00
6
Shared Voting Power
69,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
69,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
69,609,000.00
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)
27.9 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
Apollo Co-Investment 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
0.00
6
Shared Voting Power
69,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
69,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
69,609,000.00
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)
27.9 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
AP Inception ML GP, 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
0.00
6
Shared Voting Power
60,000,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
60,000,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
60,000,000.00
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)
24.1 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
AP VIII Inception Holdings GP, 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
0.00
6
Shared Voting Power
60,000,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
60,000,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
60,000,000.00
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)
24.1 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
Apollo Management VIII, L.P.
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
0.00
6
Shared Voting Power
60,000,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
60,000,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
60,000,000.00
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)
24.1 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
AIF VIII 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
0.00
6
Shared Voting Power
60,000,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
60,000,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
60,000,000.00
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)
24.1 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
Apollo Management, L.P.
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
0.00
6
Shared Voting Power
129,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
129,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
129,609,000.00
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)
52.0 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
Apollo Management GP, 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
0.00
6
Shared Voting Power
129,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
129,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
129,609,000.00
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)
52.0 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
750102105
1
Names of Reporting Persons
Apollo Management Holdings, L.P.
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
0.00
6
Shared Voting Power
129,609,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
129,609,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
129,609,000.00
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)
52.0 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Rackspace Technology, Inc.
(b)
Address of issuer's principal executive offices:
19122 US Highway 281 N Suite 128 San Antonio, TX, 78258
Item 2.
(a)
Name of person filing:
This statement is filed by (i) AP Inception Co-Invest ML Borrower, L.P. ("AP Co-Invest Borrower"); (ii) AP Inception ML Borrower, L.P. ("AP Borrower"); (iii) AP Inception Co-Invest GP, LLC ("AP Co-Invest"); (iv) AP Inception Co-Invest ML GP, LLC ("AP Co-Invest ML"); (v) Apollo Co-Investment Management, LLC ("Co-Investment Management"); (vi) AP Inception ML GP, LLC; (vii) AP VIII Inception Holdings GP, LLC ("AP VIII"); (viii) Apollo Management VIII, L.P. ("Management VIII"); (ix) AIF VIII Management, LLC ("AIF VIII LLC"); (x) Apollo Management, L.P. ("Apollo Management"); (xi) Apollo Management GP, LLC ("Management GP"); (xii) Apollo Management Holdings, L.P. ("Management Holdings"); and (xiii) Apollo Management Holdings GP, LLC ("Management Holdings GP"). The foregoing are collectively referred to herein as the "Reporting Persons."
AP Co-Invest Borrower and AP Borrower each hold securities of the Issuer.
AP Co-Invest is the sole member of AP Co-Invest ML, which is the general partner of AP Co-Invest Borrower. AP VIII is the sole member of AP Inception ML GP, LLC, which is the general partner of AP Borrower. Management VIII is the manager of AP VIII. AIF VIII LLC is the general partner of Management VIII. Co-Investment Management is the manager of AP Co-Invest.
Apollo Management is the sole member-manager of each of Co-Investment Management and AIF VIII LLC. Management GP is the general partner of Apollo Management. Management Holdings is the sole member and manager of Management GP. Management Holdings GP is the general partner of Management Holdings.
(b)
Address or principal business office or, if none, residence:
The address of each of the Reporting Persons is 9 West 57th Street, 41st Floor, New York, New York 10019.
(c)
Citizenship:
AP Co-Invest Borrower, AP Borrower, AP Co-Invest, Management VIII, Apollo Management, and Management Holdings are each Delaware limited partnerships. AP Co-Invest ML, Co-Investment Management, AP Inception ML GP, LLC, AP VIII, AIF VIII LLC, Management GP, and Management Holdings GP are each Delaware limited liability companies.
(d)
Title of class of securities:
Common stock, par value $0.01 per share
(e)
CUSIP No.:
750102105
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:
Management Holdings GP 129,609,000
AP Co-Invest Borrower 69,609,000
AP Borrower 60,000,000
AP Co-Invest 69,609,000
AP Co-Invest ML 69,609,000
Co-Investment Management 69,609,000
AP Inception ML GP, LLC 60,000,000
AP VIII 60,000,000
Management VIII 60,000,000
AIF VIII LLC 60,000,000
Apollo Management 129,609,000
Management GP 129,609,000
Management Holdings 129,609,000
AP Co-Invest, AP Co-Invest ML, Co-Investment Management, AP Inception ML GP, LLC, AP VIII, Management VIII, AIF VIII LLC, Apollo Management, Management GP, Management Holdings, and Management Holdings GP, and Messrs. Scott Kleinman, James Zelter, and Marc Rowan, the managers, as well as executive officers, of Management Holdings GP, each disclaim beneficial ownership of all shares of Common Stock included in this filing, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose.
(b)
Percent of class:
Management Holdings GP 52.0%
AP Co-Invest Borrower 27.9%
AP Borrower 24.1%
AP Co-Invest 27.9%
AP Co-Invest ML 27.9%
Co-Investment Management 27.9%
AP Inception ML GP, LLC 24.1%
AP VIII 24.1%
Management VIII 24.1%
AIF VIII LLC 24.1%
Apollo Management 52.0%
Management GP 52.0%
Management Holdings 52.0%
The percentages are based on 249,222,499 shares of Common Stock outstanding as of April 21, 2026, as disclosed in the Issuer's definitive proxy statement filed on April 30, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0 for all Reporting Persons
(ii) Shared power to vote or to direct the vote:
Management Holdings GP 129,609,000
AP Co-Invest Borrower 69,609,000
AP Borrower 60,000,000
AP Co-Invest 69,609,000
AP Co-Invest ML 69,609,000
Co-Investment Management 69,609,000
AP Inception ML GP, LLC 60,000,000
AP VIII 60,000,000
Management VIII 60,000,000
AIF VIII LLC 60,000,000
Apollo Management 129,609,000
Management GP 129,609,000
Management Holdings 129,609,000
(iii) Sole power to dispose or to direct the disposition of:
0 for all Reporting Persons
(iv) Shared power to dispose or to direct the disposition of:
Management Holdings GP 129,609,000
AP Co-Invest Borrower 69,609,000
AP Borrower 60,000,000
AP Co-Invest 69,609,000
AP Co-Invest ML 69,609,000
Co-Investment Management 69,609,000
AP Inception ML GP, LLC 60,000,000
AP VIII 60,000,000
Management VIII 60,000,000
AIF VIII LLC 60,000,000
Apollo Management 129,609,000
Management GP 129,609,000
Management Holdings 129,609,000
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.
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:
Not Applicable
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.
Apollo-related Reporting Persons report 129,609,000 shares, representing 52.0% of the class. This percentage uses 249,222,499 shares outstanding as of April 21, 2026, per the issuer's April 30, 2026 proxy statement.
Which Apollo entities hold the largest holdings in RXT?
The filing shows AP Inception Co-Invest Borrower with 69,609,000 shares (27.9%) and AP Inception ML Borrower with 60,000,000 shares (24.1%). Several affiliated entities are reported with shared voting/dispositive power.
Does the filing state who has sole voting power over these RXT shares?
No; the report indicates 0 sole voting power for each Reporting Person and discloses shared voting power for the listed share amounts, per the Schedule 13G/A table entries.
What is the reference date for the outstanding shares used to compute percentages?
The percentages are based on 249,222,499 shares outstanding as of April 21, 2026, as disclosed in the issuer's definitive proxy statement filed on April 30, 2026.
Do the Reporting Persons claim beneficial ownership personally?
The Reporting Persons include explicit disclaimers that certain managers and executives "disclaim beneficial ownership" of the reported shares and state the filing should not be construed as admission of beneficial ownership for Sections 13(d) or 13(g).
