APO

LONGINSIDER SELL

APOLLO GLOBAL MGMT INC

Funds

Score

4.50

vs SPY

-0.3%

Stock return (since Q-end)

+16.0%

SPY return (since Q-end)

+16.3%

Current price

$128.71

News Summary

Neutral

Apollo achieved record AUM of $1.03 trillion with strong fee-related earnings growth of 30% YoY and beat EPS estimates by 2.65%, but missed revenue forecasts by 2.51% and faced a $1.7 billion one-time Bermuda tax charge that overshadowed operational performance. Despite reaffirmed 2026 guidance and multiple major acquisitions/deals in progress (Anthropic $36B financing, Emerald/Questex, Noble Environmental, Bodycote bid), the company is managing elevated credit stress with MidCap Financial's default rate jumping to 5.3% and ongoing portfolio headwinds.

Red flags

•Revenue missed consensus by 2.51% ($5.06B actual vs $5.19B estimate)
•GAAP loss of $3.27 per share driven by $1.7B one-time Bermuda tax charge creates valuation uncertainty
•MidCap Financial default rate surged to 5.3% (from 3.9%), indicating credit deterioration, and company posted $61M quarterly loss
•Stock declined 1.34% post-earnings despite EPS beat, signaling investor concern about revenue weakness and growth trajectory
•Multiple large pending deals (Bodycote bid, Emerald/Questex, MidCap sale) carry execution and regulatory risks

Funds Buying (3)

Fund	Manager	Shares Held	∆ Shares	Position Value	QoQ	Status
Tiger Global	Chase Coleman	3.3M	+3.3M	$366.9B	—	NEW
D1 Capital	Dan Sundheim	1.2M	+1.2M	$129.1B	—	NEW
Soros Fund Management	Soros Family Office	131K	+131K	$14.6B	—	NEW

Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.

Insider Activity

Name	Title	Type	Shares	Price	Value	Filed
Zito John P.	Co-President (see Remarks)	SELL	18K	$129.95	$2.28M	2026-05-27
Zito John P.	Co-President (see Remarks)	SELL	20K	$130.71	$2.62M	2026-05-27
Zito John P.	Co-President (see Remarks)	SELL	11K	$131.68	$1.46M	2026-05-27
Kelly Martin	Chief Financial Officer	SELL	7K	$134.64	$0.94M	2026-05-14