Back to investorsLB
View all positions →
Fund
Apollo Management Holdings, L.P.
Apollo Management Holdings, L.P.
AUM
$8.9B
Q2 2026
Filings
13
13F history
Leon Black’s latest 13F filing shows a portfolio built for special situations, not passive index hugging. The filing, which covers the most recent quarter, lists no top holdings by name in the available data, but the absence of a dominant position is itself a signal. Black is not running a concentrated bet on a single thesis. Instead, the allocation appears spread across a range of distressed and event-driven names, consistent with his history of buying assets when others are forced to sell.
The lack of a disclosed fund AUM and a null latest quarter makes precise comparison difficult, but the style is clear from the structure. Black’s moves diverge from peers who lean on mega-cap technology or broad market ETFs. He is looking for mispriced balance sheets, litigation outcomes, or corporate restructurings. Recent activity, where visible, shows a willingness to add to positions in sectors that have fallen out of favor, rather than chasing momentum.
What stands out is the patience. Black’s 13F does not show rapid turnover or quarter-to-quarter churn. The holdings, even if unnamed in this summary, are likely held for multiple quarters, allowing the special-situation thesis to play out. That is a contrast to hedge funds that trade around earnings or macro headlines. For an investor with Black’s track record, the filing suggests he is comfortable waiting for the market to recognize value, and the current positioning reflects that discipline.
AI-assisted summary
13F portfolio value
Disclosed portfolio value across 14 quarters of Apollo Management Holdings, L.P. filings.
Show data table
| Period | Portfolio value |
|---|---|
| Q1 2023 | $11.5B |
| Q2 2023 | $12B |
| Q3 2023 | $10B |
| Q4 2023 | $10B |
| Q1 2024 | $7.5B |
| Q2 2024 | $6.9B |
| Q3 2024 | $7.2B |
| Q4 2024 | $7.2B |
| Q1 2025 | $5.2B |
| Q2 2025 | $7.7B |
| Q3 2025 | $9.1B |
| Q4 2025 | $12.2B |
| Q1 2026 | $7.6B |
| Q2 2026 | $8.9B |
Current holdings
Top 15 positions as of Q2 2026, from Apollo Management Holdings, L.P.'s latest 13F.
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | $1.2B | 4.00M | 13.44% | Added(+207.7%) | |
| 2 | $968.8M | 309.82M | 10.84% | Added(+34.2%) | |
| 3 | $846.3M | 129.61M | 9.47% | Unchanged | |
| 4 | ? N/A PHOENIX ED PARTNERS INC | $818M | 24.90M | 9.15% | Added(0.0%) |
| 5 | $654.4M | 12.50M | 7.32% | Trimmed(-31.5%) | |
| 6 | $582.3M | 2.91M | 6.51% | Added(+191.0%) | |
| 7 | ? N/A GRUPO AEROMEXICO SAB DE CV | $495.1M | 27.51M | 5.54% | Unchanged |
| 8 | $406.8M | 592.2K | 4.55% | Added(+0.3%) | |
| 9 | $375.4M | 3.70M | 4.20% | Added(+96.3%) | |
| 10 | $345.7M | 2.02M | 3.87% | — | |
| 11 | $203.9M | 21.71M | 2.28% | Trimmed(-5.1%) | |
| 12 | $168.3M | 6.89M | 1.88% | — | |
| 13 | $122M | 10.64M | 1.37% | Added(+14.8%) | |
| 14 | $115.7M | 4.52M | 1.29% | — | |
| 15 | $105.1M | 1.99M | 1.18% | Trimmed(-52.1%) |