Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
Most of Athene's revenue is owed back to savers
Policyholder credits rose 66.7%, in step with segment revenue, so much of the revenue jump is owed back to customers.
For investorsWhat has to go right for the larger fee base to pay
For foundersTurning a captive client into a growth engine
Fee-generating assets rose 21.0% against 11.6% for all assets, mainly from Athora's purchase of PIC, the filing says.
Partners in consolidated vehicles took 34.8% of net income, up from 25.2%, the cost of growing beyond Apollo's own capital.
Net income to Apollo swung from a $1.91B loss last quarter to $1.36B, so fee lines read the business better.
Unlock the financial breakdown, competitive insights, historical trends and founder playbook, plus research across the company library.
Free CXProWealth membership required
Business Lens describes Apollo Global Management from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
