APC 10-K & 10-Q changes, risk factors and insider trading
ARKO Petroleum Corp. · Nasdaq · Wholesale-Petroleum & Petroleum Products (No Bulk Stations) · CIK 2080921 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Comparison not available: Not available: fewer than two 10-K filings on EDGAR to compare (only one so far)..
What changed in the latest 10-Q
Risk Factors
During the reporting period covered by this Quarterly Report on Form 10-Q, there have been no material changes to our risk factors as set forth in our Annual Report on Form 10-K for the year ended December 31, 2025.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
New heading “Wholesale Revenues”
New heading “Wholesale Operating Income”
New heading “Fleet Fueling Revenues”
New heading “Fleet Fueling Operating Income”
New heading “GPMP Operating Income”
Largest changes
“For the three months ended March 31, 2026, interest and other financial expenses, net decreased by $0.6 million compared to the three months ended March 31, 2025 primarily due to lower average debt balances, primarily as a result of the use of the net proceeds from the IPO to repay approximately $206.7 million of the indebtedness under our Capital One Line of Credit (as defined below), and lower average interest rates in the first quarter of 2026 as compared to the first quarter of 2025, partially offset by higher interest expenses related to financial liabilities and financing leases related …”see in full comparison
“For the three months ended June 30, 2026, interest and other financial expenses, net decreased by $3.2 million compared to the second quarter of 2025 primarily due to lower average debt balances, primarily as a result of the use of the net proceeds from the IPO to repay approximately $206.7 million of the indebtedness under our Capital One Line of Credit (as defined below), and lower average interest rates in the second quarter of 2026 as compared to the second quarter of 2025, partially offset by higher interest expenses related to financial liabilities and financing leases related to ARKO …”see in full comparison
Full comparison: every changed paragraph (105)
We are engaged in (i) wholesale activity, which includes the supply of fuel to gas stations operated by third-party dealers, (ii) fleet fueling, which includes the operation of proprietary and third-party cardlock locations (unstaffed fueling locations) and the issuance of proprietary fuel cards that provide customers access to a nationwide network of fueling sites, and (iii) the wholesale distribution of fuel to substantially all of the ARKO Retail Sites (together, the “Business”). As of MarchJune 31,30, 2026, we supplied fuel to 2,1262,129 dealer locations and to 1,0561,034 ARKO Retail Sites, and we operated 292290 proprietary and third-party cardlock locations. We are well diversified geographically and as of MarchJune 31,30, 2026, operated in the District of Columbia and more than 30 states in the Mid-Atlantic, Midwestern, Northeastern, Southeastern and Southwestern United States.
We achieved strong growth over the last decade, driven primarily by a highly successful acquisition strategy, inclusive of 26 completed acquisitions by us and ARKO Parent from 2013 through MarchJune 31,30, 2026. Our strategic acquisitions, as well as the conversion of a meaningful number of ARKO Retail Sites to dealer locations, have had, and may continue to have, a significant impact on our reported results, which can make period to period comparisons difficult.
Starting in the middle of 2024, ARKO Parent commenced a multi-year transformation plan to leverage its unique, multi-segment operating model to expand our wholesale fuel distribution network by converting a meaningful number of ARKO Retail Sites to dealer locations. The conversion of an ARKO Retail Site that had been supplied by the GPMP segment to a dealer location effectively shifts that site to our wholesale segment. In such cases, we realize higher profit from ongoing fuel supply agreements and rental income than from the supply of fuel to these ARKO Retail Sites by the GPMP segment. During the three months ended MarchJune 31,30, 2026, 4121 ARKO Retail Sites converted to dealer locations,locations for a total of 62 stores converted during the six months ended June 30, 2026 and a total of 450471 ARKO Retail Sites have converted since the beginning of this initiative. We expect that ARKO Parent will continue to convert a meaningful number of additional stores throughout 2026.2026 and into 2027.
We are targeting opening 20 new-to-industry (“NTI”)new fleet fueling locations during 2026, of which one opened in March 2026, two opened in July 2026, and 17 of which are in process. We anticipate that these NTInew fleet fueling locations will have a positive impact on our results of operations given the attractive, durable cash flow profile of our fleet fueling business.
Fuel margins for our retail stores, our fleet fueling siteslocations and consignment agent locations can change rapidly because they are influenced by many factors, including: the wholesale cost of fuel; interruptions in supply caused by severe weather; supply chain disruptions; refinery mechanical failures; and competition in the local markets in which we operate. We pass wholesale fuel cost changes to our fuel supply dealers and attempt to pass wholesale fuel cost changes to our retail, fleet fueling and consignment customers through price changes; however, we are not always able to do so. We tend to realize lower fuel margins when the cost of fuel increases gradually over a longer period and higher fuel margins when the cost of fuel declines or is more volatile over a shorter period.
During the quarterfirst endedhalf March 31,of 2026, global crude oil and refined product markets were impacted by heightened geopolitical tensions in the Middle East, including the ongoing conflict involving Iran, Israel, and the United States. These developments contributed to significant volatility in crude oil prices and periodic supply disruptions, particularlyincluding relateddisruptions to the disruption of shipping through the Strait of Hormuz. AsDuring athe result,second quarter of 2026, market conditions remained highly dynamic as developments related to the conflict, including sporadic reopenings of the Strait of Hormuz and the resumption of oil flows, contributed to fluctuations in crude oil prices and changing expectations regarding global supply availability. These market conditions contributed to variability in wholesale fuel costs increased during the period, leading to highercosts, retail gasoline pricesprices, and greaterfuel pricedemand andpatterns volume volatility inacross many of our markets. While retail price increases generally lag behind changes in wholesale costs, the magnitude and timing of the fluctuations during the quartersix months ended MarchJune 31,30, 2026 positively affected our fuel margins during thethat quarter.period. However, continued geopolitical uncertainty and evolving global supply dynamics may continue to contribute to volatility in fuel prices and margins in future periods.
We continually monitor market conditions and adjust pricing strategies in response to changes in commodity costs, competitive dynamics, and consumer demand. Continued geopolitical uncertainty may result in ongoing volatility in fuel costs and margins in future periods. Because market and geopolitical conditions from time to time constrain the supply of fuel, including diesel fuel in particular, we maintain terminal storage of diesel fuel for short-term supply needs for our fleet fueling sites.
Results of Operations for the three and six months ended MarchJune 31,30, 2026 and 2025
The table below shows our consolidated results for the three and six months ended MarchJune 31,30, 2026 and 2025, together with certain key metrics.
For the three months ended MarchJune 31,30, 2026, fuel revenue increased by $50.8$278.0 million, or 6.7%,33.9%, compared to the threesecond monthsquarter ended March 31,of 2025. The increase in fuel revenue was attributable primarily to an increase in the average price of fuel compared to the firstsecond quarter of 2025 and the contribution of gallons from ARKO Retail Sites converted to dealer locations, which was2025, partially offset by lowerfewer gallons sold at comparable wholesale sites and fleet fueling sites in the firstsecond quarter of 2026 compared to the firstsecond quarter of 2025,2025 due to a challenging macroeconomic environment as well as severe weather conditions in the quarter in several markets in which we operate.environment.
.
For the three months ended MarchJune 31,30, 2026, fuel revenue – related party decreasedincreased by $59.9$111.9 million, or 10.4%,18.5%, compared to the three months ended MarchJune 31,30, 2025, resulting primarily from a 28.9 million, or 13.7%, decrease in gallons sold, reflecting the challenging macroeconomic environment. as well as severe weather conditions in the quarter in several markets in which we operate, and ARKO Retail Sites converted to dealer locations, which was partially offset by an increase in the average price of fuel in the threesecond monthsquarter endedof March 31, 2026,2026 as compared to the threesecond monthsquarter endedof March2025, 31,which 2025.was partially offset by a 33.9 million, or 15.1%, decrease in gallons sold, reflecting the challenging macroeconomic environment and ARKO Retail Sites converted to dealer locations.
For the three months ended MarchJune 31,30, 2026, other revenues, net increased by $6.1$5.1 million, or 47.4%,33.2%, compared to the threesecond monthsquarter ended March 31,of 2025, primarily due to additional rental income from ARKO Retail Sites that had been converted to dealer locations.
For the three months ended March 31, 2026, other revenues, net – related party were consistent with those in the three months ended March 31, 2025.
For the three months ended March 31, 2026, total operating expenses decreased by $7.1 million, or 0.5%, compared to the three months ended March 31, 2025. Fuel costs increased by $46.9 million or 6.5%, compared to the three months ended March 31, 2025 while fuel costs – related party decreased by $60.3 million, or 10.7%, compared to the three months ended March 31, 2025, both consistent with the corresponding year over year changes in fuel revenues. For the three months ended March 31, 2026, site operating expenses increased by $4.9 million, or 22.3%, as compared to the three months ended March 31, 2025 due to incremental expenses from ARKO Retail Sites converted to dealer locations.
For the three months ended March 31, 2026, general and administrative expenses increased by $0.1 million, or 0.6%, compared to the three months ended March 31, 2025.
For the three months ended March 31, 2026, depreciation and amortization expenses increased by $1.3 million, or 9.5%, compared to the three months ended March 31, 2025, primarily due to assets related to ARKO Retail Sites that had been converted to dealer locations.
For the three months ended MarchJune 31,30, 2026, other expenses,revenues, net decreased– related party increased by $0.1$0.2 millionmillion, or 4.7%, compared to the three months ended MarchJune 31,30, 2025.
For the three months ended June 30, 2026, total operating expenses increased by $395.9 million, or 27.9%, compared to the second quarter of 2025. Fuel costs increased $277.9 million, or 35.8%, compared to the three months ended June 30, 2025, and fuel costs – related party increased by $111.8 million, or 18.9%, compared to the three months ended June 30, 2025, both consistent with the corresponding year over year increases in fuel revenues. For the three months ended June 30, 2026, site operating expenses increased by $3.4 million, or 13.4%, as compared to the three months ended June 30, 2025 due to incremental expenses from ARKO Retail Sites converted to dealer locations.
For the three months ended June 30, 2026, general and administrative expenses increased by $1.4 million, or 13.2%, compared to the second quarter of 2025, primarily due to an increase in share-based compensation expense principally related to grants to members of our Board of Directors (the “Board”) and management.
For the three months ended June 30, 2026, depreciation and amortization expenses increased by $1.4 million, or 10.6%, compared to the second quarter of 2025, primarily due to assets related to ARKO Retail Sites converted to dealer locations.
Operating income was $20.1 million for the three months ended March 31, 2026 compared to $15.8 million for the three months ended March 31, 2025. The increase in operating income was primarily due to the benefit from ARKO Retail Sites that have been converted to dealer locations and greater fuel contribution from comparable wholesale sites and fleet fueling sites, partially offset by an increase in site operating expenses and depreciation and amortization expenses.
For the three months ended March 31, 2026, interest and other financial expenses, net decreased by $0.6 million compared to the three months ended March 31, 2025 primarily due to lower average debt balances, primarily as a result of the use of the net proceeds from the IPO to repay approximately $206.7 million of the indebtedness under our Capital One Line of Credit (as defined below), and lower average interest rates in the first quarter of 2026 as compared to the first quarter of 2025, partially offset by higher interest expenses related to financial liabilities and financing leases related to ARKO Retail Sites converted to dealer locations.
For the three months ended March 31, 2026, income tax expense was $3.0 million compared to $1.7 million for the three months ended March 31, 2025, and the effective tax rate for the three months ended March 31, 2026 and 2025 was 27.1% and 27.0%, respectively.
For the three months ended MarchJune 31,30, 2026, other expenses, net incomedecreased was $8.1$0.4 million compared to $4.5 million for the three months ended MarchJune 31,30, 2025.
Operating income was $23.5 million for the three months ended June 30, 2026 compared to $23.8 million for the three months ended June 30, 2025. The decrease in operating income was primarily due to lower fuel contribution from comparable wholesale sites and fleet fueling locations, and an increase in general and administrative expenses and depreciation and amortization, partially offset by the benefit from ARKO Retail Sites converted to dealer locations.
For the three months ended June 30, 2026, interest and other financial expenses, net decreased by $3.2 million compared to the second quarter of 2025 primarily due to lower average debt balances, primarily as a result of the use of the net proceeds from the IPO to repay approximately $206.7 million of the indebtedness under our Capital One Line of Credit (as defined below), and lower average interest rates in the second quarter of 2026 as compared to the second quarter of 2025, partially offset by higher interest expenses related to financial liabilities and financing leases related to ARKO Retail Sites converted to dealer locations.
For the three months ended June 30, 2026 and 2025, income tax expense was $4.1 million and $3.4 million, respectively.
For the three months ended June 30, 2026 and 2025, net income was $12.2 million and $10.0 million, respectively.
For the three months ended MarchJune 31,30, 2026,2026 and 2025, Adjusted EBITDA was $36.4$39.8 million comparedand to$38.3 $30.9million, million for the three months ended March 31, 2025.respectively. Refer to “Use of Non-GAAP Measures” below for discussion of this non-GAAP performance measure and related reconciliation to net income.
For the six months ended June 30, 2026, fuel revenue increased by $328.8 million, or 20.8%, compared to the six months ended June 30, 2025. The increase in fuel revenue was attributable primarily to an increase in the average price of fuel compared to the first half of 2025, partially offset by fewer gallons sold in the first half of 2026 compared to the first half of 2025, due to a challenging macroeconomic environment as well as severe weather conditions in the first quarter of 2026 in several markets in which we operate.
For the six months ended June 30, 2026, fuel revenue – related party increased by $52.0 million, or 4.4%, compared to the six months ended June 30, 2025, resulting primarily from an increase in the average price of fuel compared to the six months ended June 30, 2025, which was partially offset by a 62.9 million, or 14.4%, decrease in gallons sold, reflecting the challenging macroeconomic environment, as well as severe weather conditions in the first quarter of 2026 in several markets in which we operate, and ARKO Retail Sites converted to dealer locations.
For the six months ended June 30, 2026, other revenues, net increased by $11.2 million, or 39.8%, compared to the six months ended June 30, 2025, primarily due to additional rental income from ARKO Retail Sites converted to dealer locations.
For the six months ended June 30, 2026, other revenues, net – related party increased by $0.2 million, or 2.8%, compared to the six months ended June 30, 2025.
For the six months ended June 30, 2026, total operating expenses increased by $388.7 million, or 14.1%, compared to the six months ended June 30, 2025. Fuel costs increased by $324.8 million or 21.7%, compared to the six months ended June 30, 2025 and fuel costs – related party increased by $51.4 million, or 4.4%, compared to the six months ended June 30, 2025, both consistent with the corresponding year over year increases in fuel revenues. For the six months ended June 30, 2026, site operating expenses increased by $8.3 million, or 17.5%, as compared to the six months ended June 30, 2025 due to incremental expenses from ARKO Retail Sites converted to dealer locations.
For the six months ended June 30, 2026, general and administrative expenses increased by $1.4 million, or 6.8%, compared to the six months ended June 30, 2025, primarily due to an increase in share-based compensation expense principally related to grants to members of our Board and management.
For the six months ended June 30, 2026, depreciation and amortization expenses increased by $2.7 million, or 10.1%, compared to the six months ended June 30, 2025, primarily due to assets related to ARKO Retail Sites converted to dealer locations.
For the six months ended June 30, 2026, other expenses, net decreased by $0.5 million compared to the six months ended June 30, 2025.
Operating income was $43.6 million for the six months ended June 30, 2026 compared to $39.6 million for the six months ended June 30, 2025. The increase in operating income was primarily due to the benefit from ARKO Retail Sites converted to dealer locations and greater fuel contribution from fleet fueling locations, partially offset by lower fuel contribution from comparable wholesale sites and an increase in general and administrative expenses and depreciation and amortization.
For the six months ended June 30, 2026, interest and other financial expenses, net decreased by $3.8 million compared to the six months ended June 30, 2025 primarily due to lower average debt balances, primarily as a result of the use of the net proceeds from the IPO to repay approximately $206.7 million of the indebtedness under our Capital One Line of Credit, and lower average interest rates in the first half of 2026 as compared to the first half of 2025, partially offset by higher interest expenses related to financial liabilities and financing leases related to ARKO Retail Sites converted to dealer locations.
For the six months ended June 30, 2026 and 2025, income tax expense was $7.1 million and $5.1 million, respectively.
For the six months ended June 30, 2026 and 2025, net income was $20.3 million and $14.6 million, respectively.
For the six months ended June 30, 2026 and 2025, Adjusted EBITDA was $76.2 million and $69.2 million, respectively. Refer to “Use of Non-GAAP Measures” below for discussion of this non-GAAP performance measure and related reconciliation to net income.
The table below shows the results of the wholesale segment for the three and six months ended MarchJune 31,30, 2026 and 2025, together with certain key metrics for the segment.
For the three months ended MarchJune 31,30, 2026, fuel revenue increased by $43.8$221.6 million, or 7.0%,31.8%, compared to the threesecond monthsquarter ended March 31,of 2025, primarily due to a 6.3 million, or 2.8%, increase in gallons sold, as well as an increase in the average price of fuel in the firstsecond quarter of 2026 compared to the firstsecond quarter of 2025.2025, partially offset by a 11.7 million, or 4.6%, decrease in gallons sold. Of total gallons sold, ARKO Retail Sites converted to dealer locations contributed 18.817.1 million incremental gallons, which were partiallyfully offset by lower volumes at comparable wholesale sites, reflecting the challenging macroeconomic environment, as well as severe weather conditions in the quarter in several markets in which we operate.environment.
For the three months ended MarchJune 31,30, 2026, other revenues, net increased by $6.2$4.5 million, or 59.7%,35.9%, compared to the threesecond monthsquarter ended March 31,of 2025, primarily due to additional rental income from ARKO Retail Sites converted to dealer locations.
For the three months ended MarchJune 31,30, 2026, wholesale operating income increased by $4.4$1.6 million compared to the threesecond monthsquarter ended March 31,of 2025 as a result of additional operating income from ARKO Retail Sites converted to dealer locationslocations, combinedwhich withwas increasedpartially offset by reduced operating income at comparable wholesale sites. An increase in other revenues, net, combined with an increase in fuel contribution of $2.8$0.9 million was partially offset by an increase in site operating expenses of $5.2$4.2 million in the firstsecond quarter of 2026 compared to the firstsecond quarter of 2025. These increases were primarily due to ARKO Retail Sites converted to dealer locations.
At fuel supply locations, fuel contribution increased by $1.2$2.0 million for the firstsecond quarter of 2026 compared to the firstsecond quarter of 2025, due to $1.6 million of incremental contribution from ARKO Retail Sites converted to dealer locations, which was partially offset by lower fuel contribution at comparable wholesale sites.locations. At consignment agent locations, fuel contribution increased $1.6 million for the first quarter of 2026 compared to the first quarter of 2025, due to $0.5 million of incremental contribution from ARKO Retail Sites converted to dealer locations as well as higher fuel contribution at comparable wholesale sites. At both fuel supply locations and consignment agent locations, fuel margin per gallon increased, primarily as a result of significant volatility in the fuel market due to the geopolitical environment and increased prompt pay discounts related to higher fuel costs.
At consignment agent locations, fuel contribution decreased $1.1 million for the second quarter of 2026 compared to the second quarter of 2025, due to reduced fuel contribution at comparable wholesale sites which was partially offset by $0.5 million of incremental contribution from ARKO Retail Sites converted to dealer locations. At consignment agent locations, fuel margin per gallon decreased, primarily due to margin compression during the second quarter of 2026, as market prices declined more quickly than our weighted average inventory cost.
Wholesale Revenues
For the six months ended June 30, 2026, fuel revenue increased by $265.4 million, or 20.0%, compared to the first half of 2025, primarily due to an increase in the average price of fuel in the first half of 2026 compared to the first half of 2025, partially offset by a 5.3 million, or 1.1%, decrease in gallons sold. Of total gallons sold, ARKO Retail Sites converted to dealer locations contributed 35.9 million incremental gallons, which were fully offset by lower volumes at comparable wholesale sites, reflecting the challenging macroeconomic environment, as well as severe weather conditions in the first quarter of 2026 in several markets in which we operate.
For the six months ended June 30, 2026, other revenues, net increased by $10.7 million, or 46.7%, compared to the six months ended June 30, 2025, primarily due to additional rental income from ARKO Retail Sites converted to dealer locations.
Wholesale Operating Income
For the six months ended June 30, 2026, wholesale operating income increased by $6.0 million compared to the first half of 2025 as a result of additional operating income from ARKO Retail Sites converted to dealer locations which were partially offset by reduced operating income at comparable wholesale sites. An increase in other revenues, net, combined with an increase in fuel contribution of approximately $3.8 million was partially offset by an increase in site operating expenses of $9.3 million for the first half of 2026 compared to the first half of 2025. These increases were primarily due to ARKO Retail Sites converted to dealer locations.
At fuel supply locations, fuel contribution increased by $3.2 million for the first half of 2026 compared to the first half of 2025 due to $3.5 million of incremental contribution from ARKO Retail Sites converted to dealer locations, which was partially offset by lower volumes at comparable wholesale sites. Fuel margin per gallon increased, primarily as a result of significant volatility in the fuel markets due to the geopolitical environment and increased prompt pay discounts related to higher fuel costs.
At consignment agent locations, fuel contribution increased by $0.5 million for the first half of 2026 compared to the first half of 2025 due to incremental contribution of $1.0 million from ARKO Retail Sites converted to dealer locations, which was partially offset by lower volumes at comparable wholesale sites. Fuel margin per gallon increased primarily as a result of significant volatility in the fuel and consumer markets due to the geopolitical environment and increased prompt pay discounts related to higher fuel costs net of margin compression during the second quarter of 2026, as market prices declined more quickly than our weighted average inventory cost.
The table below shows the results of the fleet fueling segment for the three and six months ended MarchJune 31,30, 2026 and 2025, together with certain key metrics for the segment.
For the three months ended MarchJune 31,30, 2026, fuel revenue increased by $8.9$57.2 million, or 7.5%,48.4%, compared to the firstsecond quarter of 2025. The increase in fuel revenue was primarily due to an increase in the average price of fuel in the firstsecond quarter of 2026 compared to the firstsecond quarter of 2025, whichas waswell partiallyas offseta by0.3% 3.2% decreaseincrease in gallons sold.
For the three months ended MarchJune 31,30, 2026 and 2025,2026, other revenues, net increased by $0.1$0.7 million compared to the firstsecond quarter of 2025.
For the three months ended MarchJune 31,30, 2026, fuel contribution increaseddecreased by $1.4$0.7 million compared to the firstsecond quarter of 2025. At proprietary cardlocks, fuel contribution increaseddecreased by $1.2$0.3 million, and fuel margin per gallon also increaseddecreased for the firstsecond quarter of 2026 compared to the firstsecond quarter of 2025, and at third-party cardlock locations, fuel contribution increaseddecreased $0.2$0.4 million, and fuel margin per gallon increaseddecreased for the firstsecond quarter of 2026 compared to the firstsecond quarter of 2025. These increasesdecreases were primarily due to favorablehigher dieselthan average fuel margins as a result of significant volatility in the fuelprior marketyear, dueas towell as margin compression during the geopoliticalsecond environment.quarter of 2026, as indexed prices declined more quickly than our weighted average inventory cost.
APC insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 1 Form 4 filing (1 insider, 1 trade date, 100,000 shares, about $1.8M) and open-market sales in 2 filings (2 insiders, 3 trade dates, 150,000 shares, about $2.5M). Net open-market shares: -50,000 (purchases minus sales); net value about -$759.2K.Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
| Trade date | Insider | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-01 | Friedman Avram Z |
Grant/award | 1,247 | — | — |
| 2026-10-01 | Rogers Kirk T. |
Grant/award | 332 | — | — |
| 2026-10-01 | Heyer Andrew R |
Grant/award | 1,247 | — | — |
| 2026-10-01 | Maurer Carlos A. |
Grant/award | 582 | — | — |
| 2026-09-25 | Blackstone Holdings I/ii Gp L.l.c. |
Open-market sale | 124,600 | $16.40 | $2.0M |
| 2026-09-24 | Blackstone Holdings I/ii Gp L.l.c. |
Open-market sale | 400 | $17.02 | $6.8K |
| 2026-07-01 | Rogers Kirk T. |
Grant/award | 274 | — | — |
| 2026-07-01 | Maurer Carlos A. |
Grant/award | 480 | — | — |
| 2026-07-01 | Heyer Andrew R |
Grant/award | 1,029 | — | — |
| 2026-07-01 | Friedman Avram Z |
Grant/award | 1,029 | — | — |
| 2026-04-29 | Maurer Carlos A. |
Grant/award | 5,978 | — | — |
| 2026-04-29 | Edmiston Sherman Iii |
Grant/award | 5,497 | — | — |
| 2026-04-29 | Rogers Kirk T. |
Grant/award | 5,772 | — | — |
| 2026-04-29 | Friedman Avram Z |
Grant/award | 7,559 | — | — |
| 2026-04-29 | Heyer Andrew R |
Grant/award | 7,559 | — | — |
| 2026-03-03 | Blackstone Group Management L.l.c. |
Open-market sale | 25,000 | $19.00 | $475.0K |
| 2026-02-12 | Blackstone Group Management L.l.c. |
Open-market purchase | 100,000 | $17.66 | $1.8M |
Well-known investors holding APC (13F)
| Investor | Quarter | Shares | Reported value | % of their 13F | Change vs prior quarter |
|---|---|---|---|---|---|
| Two Sigma Investments | 2026-06-30 | 322,417 | $6.1M | 0.0% | Added 38% |
| Citadel Advisors (Ken Griffin) | 2026-06-30 | 242,930 | $4.6M | 0.0% | Reduced 3% |
| Renaissance Technologies | 2026-06-30 | 174,500 | $3.3M | 0.0% | New position |
| Millennium Management (Israel Englander) | 2026-06-30 | 67,638 | $1.3M | 0.0% | Reduced 56% |
| Point72 Asset Management (Steve Cohen) | 2026-06-30 | 25,924 | $488.7K | 0.0% | New position |
| D. E. Shaw & Co. | 2026-06-30 | 25,000 | $447.2K | — | Sold out |