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[SCHEDULE 13G/A] Rackspace Technology, Inc. SEC Filing

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G/A
Rhea-AI Filing Summary

Apollo-affiliated entities report collective shared beneficial ownership of 129,609,000 shares of Rackspace Technology, Inc. common stock, representing 54.1% of the outstanding class. The filing lists multiple related Apollo entities and funds that together hold the position, including two borrowers holding 69,609,000 and 60,000,000 shares respectively. The percentages are calculated on 239,360,677 shares outstanding as disclosed by the issuer. All reporting persons report no sole voting or dispositive power and instead report shared voting and dispositive power over the reported shares. The statement is an amendment to Schedule 13G identifying ownership structure, relationships among Apollo entities, and disclaimers of beneficial ownership by certain managers and officers.

Positive
  • Major disclosed position: Reporting Persons clearly state collective beneficial ownership of 129,609,000 shares (54.1%), providing transparency on ownership concentration.
  • Complete entity disclosure: The filing details the chain of ownership and management among Apollo entities, clarifying relationships and reporting responsibilities.
Negative
  • High ownership concentration: A single affiliated group holds a majority of the class (54.1%), which is material for governance and minority shareholder influence.
  • No sole voting power reported: All reported power is shared, which may obscure how voting coordination will be exercised among the affiliated entities.

Insights

TL;DR: Apollo-affiliated holders control a majority (54.1%) of RXT shares through shared voting power, a materially concentrated ownership position.

The Schedule 13G/A discloses that related Apollo entities collectively hold 129,609,000 shares, equal to 54.1% of the 239,360,677 shares outstanding referenced in the filing. The holdings are reported as shared voting and dispositive power, with no sole voting or dispositive power claimed by any reporting person. For investors and analysts, a >50% aggregate position by a single group is material because it implies the group can substantially influence corporate decisions subject to how voting arrangements are exercised. The filing also documents the internal entity structure used to hold the securities, which clarifies legal relationships but does not quantify any changes in position size compared with prior filings within this document.

TL;DR: Concentrated, shared ownership by an affiliated group creates material governance influence and requires monitoring of related-party voting coordination.

The report identifies multiple Apollo-managed partnerships and managers that together report shared control over 129,609,000 shares (54.1%). While the filing states no individual reporting person claims sole voting or dispositive power, the group structure and shared powers indicate coordinated influence over corporate governance matters. The filing includes explicit disclaimers by certain managers and officers disclaiming beneficial ownership, and it documents the chain of ownership and management among Apollo entities. This structure is typical of private fund arrangements but is material from a governance and control perspective.






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





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G



Apollo Management Holdings GP, LLC
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
AP Inception Co-Invest ML Borrower, L.P.
Signature:/s/ AP Inception Co-Invest ML GP, LLC
Name/Title:General Partner
Date:08/14/2025
Signature:/s/ AP Inception Co-Invest GP, LLC
Name/Title:Sole Member
Date:08/14/2025
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
AP Inception ML Borrower, L.P.
Signature:/s/ AP Inception ML GP, LLC
Name/Title:General Partner
Date:08/14/2025
Signature:/s/ AP VIII Inception Holdings GP, LLC
Name/Title:Sole Member
Date:08/14/2025
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
AP Inception Co-Invest GP, LLC
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
AP Inception Co-Invest ML GP, LLC
Signature:/s/ AP Inception Co-Invest GP, LLC
Name/Title:Sole Member
Date:08/14/2025
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
Apollo Co-Investment Management, LLC
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
AP Inception ML GP, LLC
Signature:/s/ AP VIII Inception Holdings GP, LLC
Name/Title:Sole Member
Date:08/14/2025
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
AP VIII Inception Holdings GP, LLC
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
Apollo Management VIII, L.P.
Signature:/s/ AIF VIII Management, LLC
Name/Title:General Partner
Date:08/14/2025
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
AIF VIII Management, LLC
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
Apollo Management, L.P.
Signature:/s/ Apollo Management GP, LLC
Name/Title:General Partner
Date:08/14/2025
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
Apollo Management GP, LLC
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025
Apollo Management Holdings, L.P.
Signature:/s/ Apollo Management Holdings GP, LLC
Name/Title:General Partner
Date:08/14/2025
Signature:/s/ James Elworth
Name/Title:James Elworth, Vice President
Date:08/14/2025

FAQ

What stake in Rackspace Technology (RXT) do Apollo-affiliated reporting persons disclose?

The Reporting Persons disclose collective beneficial ownership of 129,609,000 shares, representing 54.1% of the common stock outstanding.

As of what share count are the ownership percentages calculated in the filing?

Percentages are based on 239,360,677 shares outstanding as disclosed by the issuer as of August 5, 2025.

Did any reporting person claim sole voting or dispositive power over the shares?

No. All reporting persons reported 0 sole voting power and 0 sole dispositive power; reported power is shared.

What date triggered the requirement to file this Schedule 13G/A?

The Date of Event which requires filing is listed as 06/30/2025, and the signatures on the amendment are dated 08/14/2025.

Which Apollo entities are named as reporting persons in this filing?

Named reporting persons include entities such as AP Inception Co-Invest ML Borrower, L.P., AP Inception ML Borrower, L.P., Apollo Management, L.P., Apollo Management Holdings GP, LLC, and multiple related Apollo GP and management entities.
Rackspace Technology, Inc.

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Software - Infrastructure
Services-computer Programming, Data Processing, Etc.
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United States
SAN ANTONIO