L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 5 Feb 2026
Managers listing it
30
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 14 listed it in both
Shares listed
86,888,020
combined, among listed positions
Reported value
$12.6bn
combined, at the quarter end

Among the 92 comparable managers: 15 buyers (opened or added shares) and 16 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +326,501.

Managers listing APO in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

30 of 30 holders

ActionFiling
Fidelity (FMR LLC)30,469,421$4.4bn0.22%Added+5,752,32217 Feb 2026 (the filing on sec.gov)
Capital World Investors24,170,303$3.5bn0.48%Trimmed-4,049,29711 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors11,002,773$1.6bn0.29%Added+1,724,82211 Feb 2026 (the filing on sec.gov)
Tiger Global Management LLC6,209,496$899m3.03%Held017 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc3,585,283$519m0.06%Trimmed-2,313,43717 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC2,621,310$379m0.28%Trimmed-158,99127 Oct 2026 (the filing on sec.gov)
Invesco Ltd1,995,550$289munder 0.1%Trimmed-192,34519 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP1,705,008$247m0.08%Added+772,84817 Feb 2026 (the filing on sec.gov)
D1 Capital Partners LP1,159,000$168m1.57%Held017 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd1,128,920$163m0.07%Added+5,52817 Feb 2026 (the filing on sec.gov)
Markel Group Inc1,012,500$147m1.17%Held06 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP551,570$80munder 0.1%Added+541,39717 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC356,432$52munder 0.1%Trimmed-172,79917 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP311,836$45munder 0.1%Added+84,98617 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.90,175$13munder 0.1%Added+65,52717 Feb 2026 (the filing on sec.gov)
Man Group PLC87,007$13munder 0.1%Added+67,17117 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC84,688$12munder 0.1%Added+51,43113 Feb 2026 (the filing on sec.gov)
Woodline Partners LP78,704$11munder 0.1%Added+17,89817 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC65,695$9.5munder 0.1%Trimmed-2,89617 Feb 2026 (the filing on sec.gov)
Moore Capital Management LP50,000$7.2m0.10%Added+9,50017 Feb 2026 (the filing on sec.gov)
Winton Group Ltd45,587$6.6m0.23%Newnew11 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP23,187$3.4munder 0.1%Trimmed-144,29917 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC19,780$2.9munder 0.1%Trimmed-909,32312 Feb 2026 (the filing on sec.gov)
Millennium Management LLC15,397$2.2munder 0.1%Trimmed-63,21717 Feb 2026 (the filing on sec.gov)
Hudson Bay Capital Management LP14,740$2.1munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
25 in Q3 2024 to 17 in Q2 2026

Tracked managers listing it, at least.

010203020222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
APO by quarter
QuarterHoldersReported valueBuyersSellers
Q1 202213$3.8bnn.a.n.a.
Q2 202210$3.0bnn.a.n.a.
Q3 202214$2.8bnn.a.n.a.
Q4 202213$3.8bnn.a.n.a.
Q1 202312$4.0bnn.a.n.a.
Q2 202311$5.3bnn.a.n.a.
Q3 202321$7.2bnn.a.n.a.
Q4 202322$8.0bn139
Q1 202423$10.0bn129
Q2 202427$11.6bn159
Q3 202425$12.6bn1411
Q4 202424$15.8bn1212
Q1 202526$11.5bn1512
Q2 202523$11.7bn1111
Q3 202517$11.4bn109
Q4 202513$12.0bn1516
Q1 202617$9.2bn1916
Q2 202617$9.6bn1519

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

APO and V →APO and AXP →APO and BAC →Choose a stock to compare with APO →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own APO, latest filings →Back to the 13F Explorer →