Apollo Commercial Real Estate Finance, Inc.
US ˙ NYSE ˙ US03762U1051

SecurityARI / Apollo Commercial Real Estate Finance, Inc.
InstitutionD. E. Shaw & Co., Inc.
ManagerDE Shaw
Latest Disclosed Ownership0 shares
Latest Disclosed Value $ 0
D. E. Shaw & Co., Inc. closes position in ARI / Apollo Commercial Real Estate Finance, Inc.

On February 17, 2026 - D. E. Shaw & Co., Inc. filed a 13F-HR form disclosing ownership of 0 shares of Apollo Commercial Real Estate Finance, Inc. (US:ARI) valued at $0 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 14, 2025 disclosing 111,562 shares of Apollo Commercial Real Estate Finance, Inc.. The current value of the position is $0 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-17 2025-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 0 -100.00 0
2025-11-14 2025-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 111,562 -105,108 -48.51 1,130 -46.11 0.0005
2025-08-14 2025-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 216,670 194,908 895.63 2,097 908.17 0.0015
2025-05-15 2025-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 21,762 9,921 83.79 208 103.92 0.0002
2025-02-14 2024-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 11,841 -17,753 -59.99 103 -62.36 0.0001
2024-11-14 2024-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 29,594 -34,163 -53.58 272 -56.57 0.0002
2024-08-14 2024-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 63,757 18,602 41.20 624 24.06 0.0006
2024-05-15 2024-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 45,155 22,760 101.63 503 91.98 0.0004
2024-02-14 2023-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 22,395 -32,436 -59.16 263 -52.79 0.0002
2023-11-14 2023-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 54,831 34,849 174.40 555 145.58 0.0006
2023-08-14 2023-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 19,982 1,147 6.09 226 29.14 0.0002
2023-05-15 2023-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 18,835 -28,468 -60.18 175 -65.55 0.0002
2023-02-14 2022-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 47,303 4,867 11.47 509 44.32 0.0006
2022-11-14 2022-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 42,436 42,436 352 0.0004
2022-08-15 2022-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 0 -227,847 -100.00 0 -100.00
2022-05-16 2022-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 227,847 -1,583 -0.69 3,174 5.13 0.0030
2022-02-14 2021-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 229,430 229,430 3,019 0.0025
2021-11-15 2021-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 0 -19,288 -100.00 0 -100.00
2021-08-16 2021-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 19,288 -414,134 -95.55 308 -94.91 0.0003
2021-05-17 2021-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 433,422 -733,953 -62.87 6,055 -53.57 0.0058
2021-02-16 2020-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 1,167,375 -907,458 -43.74 13,040 -30.24 0.0117
2020-11-16 2020-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 2,074,833 41,028 2.02 18,694 -6.30 0.0191
2020-08-14 2020-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 2,033,805 1,422,507 232.70 19,951 339.84 0.0238
2020-05-15 2020-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 611,298 569,595 1,365.84 4,536 494.50 0.0071
2020-02-14 2019-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 41,703 41,703 763 0.0009
2019-05-15 2019-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 0 -45,954 -100.00 0 -100.00
2019-02-14 2018-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 45,954 45,954 766 0.0011
2017-02-14 2016-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 0 -16,895 -100.00 0 -100.00
2016-11-14 2016-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 16,895 5,219 44.70 277 47.34 0.0005
2016-08-15 2016-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 11,676 -9,028 -43.61 188 -44.21 0.0003
2016-05-16 2016-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 20,704 -66,367 -76.22 337 -77.53 0.0006
2016-02-16 2015-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 87,071 -28,641 -24.75 1,500 -17.49 0.0022
2015-11-16 2015-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 115,712 -2,847 -2.40 1,818 -6.67 0.0027
2015-08-14 2015-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 118,559 -83,373 -41.29 1,948 -43.85 0.0029
2015-05-15 2015-03-31 13F APOLLO COML REAL EST FIN COM 03762U105 201,932 35,749 21.51 3,469 27.58 0.0053
2015-02-17 2014-12-31 13F APOLLO COML REAL EST FIN COM 03762U105 166,183 -45,750 -21.59 2,719 -18.32 0.0035
2014-11-14 2014-09-30 13F APOLLO COML REAL EST FIN COM 03762U105 211,933 171,674 426.42 3,329 401.36 0.0043
2014-08-14 2014-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 40,259 40,259 -31.44 664 -28.76 0.0009
2013-11-20 2013-09-30 13F/A-1 APOLLO COML REAL EST FIN COM 03762U105 0 -58,717 -100.00 0 -100.00
2013-08-14 2013-06-30 13F APOLLO COML REAL EST FIN COM 03762U105 58,717 58,717 932 0.0018
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.