SCHEDULE: APA Corp. Ownership Update: Hotchkis & Wiley, Vanguard Windsor II

Hotchkis and Wiley Capital Management, LLC and Vanguard Windsor II Fund have updated their beneficial ownership filings for APA Corporation, reflecting substantial holdings.

Summary

• Hotchkis and Wiley Capital Management, LLC (HWCM) now beneficially owns 31,695,303 shares of APA Corporation's common stock, representing 8.97% of the class.
• Vanguard Windsor II Fund beneficially owns 17,561,357 shares of APA Corporation's common stock, representing 4.97% of the class.
• HWCM has sole voting power over 29,771,887 shares and sole dispositive power over 31,695,303 shares.
• Vanguard Windsor II Fund has sole voting power over 17,561,357 shares and sole dispositive power over 17,561,357 shares.
• The filing is an amendment (No. 4) to a Schedule 13G, indicating a change in ownership reporting.
• The date of the event requiring this filing is June 30, 2026.
• The total number of APA Corporation common shares outstanding as of April 30, 2026, was reported as 353,470,227.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, primarily indicating significant institutional ownership without immediate strategic shifts.

Positives

• Significant institutional ownership by established firms like Hotchkis and Wiley Capital Management and Vanguard Windsor II Fund can indicate confidence in the company's long-term prospects.
• The filing confirms substantial holdings, suggesting these institutions view APA Corporation as a valuable investment.

Negatives

• The filing does not provide specific reasons for the ownership changes, leaving the strategic intent behind the holdings open to interpretation.

Risks

• HWCM disclaims beneficial ownership of shares beyond its pecuniary interest, indicating a nuanced ownership structure that could have implications.
• While not explicitly stated as a risk, significant block holdings by institutional investors can sometimes lead to pressure on management for strategic changes.

Future Outlook

This filing is primarily an update on beneficial ownership and does not contain specific forward-looking statements or guidance regarding APA Corporation's future performance.

Management Comments

• HWCM disclaims beneficial ownership of the reported shares, except to the extent of its pecuniary interest in such shares, if any.
• HWCM clients have retained the power to vote the Common Shares that they directly own. Accordingly, HWCM has the power to dispose of more Common Shares than it can vote.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors accumulating significant stakes. The presence of large, reputable asset managers like Hotchkis and Wiley Capital Management and Vanguard Windsor II Fund in APA Corporation's shareholder base is typical for companies in the energy sector, suggesting these institutions see value and stability in the company's operations or market position.

Stakeholder Impact

• Shareholders: The significant holdings by large institutional investors may provide a degree of stability to the stock price and signal confidence, potentially attracting further investment.
• Management: Increased institutional ownership can lead to greater scrutiny and potential influence on corporate strategy and governance decisions.

Next Steps

• Continued monitoring of APA Corporation's performance and any further ownership filings by institutional investors.
• Analysis of APA Corporation's operational and financial reports for insights into the underlying business drivers influencing institutional investment.

Key Dates

Keywords

APA Corporation, Schedule 13G, Beneficial Ownership, Hotchkis and Wiley Capital Management, Vanguard Windsor II Fund, Institutional Investor, Common Stock, Ownership Stake