Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 115

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 115
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venues$9,883 $7,889 $22,441 $21,141 Net income attributable to Apollo Global Management, Inc.1,704 805 2,755 3,019 Amounts above reflect certain pro forma adjustments that were directly attributable to the Bridge acquisition. These adjustments include the following:•the elimination of historical amortization of Bridge’s intangibles and the additional amortization of intangibles measured at fair value as of the Acquisition Date;•adjustments reflecting the purchase of all Bridge LLC Class A common units and certain other non-controlling interests in subsidiaries; and•adjustments reflecting the transaction costs.

4. InvestmentsThe following table outlines the Company’s investments:(In millions)September 30, 2025December 31, 2024Asset ManagementInvestments, at fair value$1,752 $1,384 Equity method investments1,275 1,082 Performance allocations3,249 3,262 Other investments12 358 Total Investments – Asset Management6,288 6,086 Retirement ServicesAFS securities, at fair value218,684 184,167 Trading securities, at fair value5,763 2,156 Equity securities, at fair value1,307 1,524 Mortgage loans, at fair value83,266 64,536 Investment funds2,246 1,960 Policy loans304 318 Funds withheld at interest20,816 23,916 Derivative assets8,884 8,154 Short-term investments205 1,190 Other investments4,523 3,246 Total Investments, including related parties – Retirement Services345,998 291,167 Total Investments$352,286 $297,253 

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Table of ContentsAPOLLO GLOBAL MANAGEMENT, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Asset ManagementNet Gains (Losses) from Investment ActivitiesThe following outlines realized and net change in unrealized gains (losses) reported in net gains (losses) from investment activities:Three months ended September 30,Nine months ended September 30,(In millions)2025202420252024Realized gains (losses) on sales of investments, net$(4)$1 $(10)$1 Net change in unrealized gains (losses) due to changes in fair value82 14 (