Apollo Asset Backed Credit Co LLC Files Q2 2025 10-Q

TL;DR

Apollo Asset Backed Credit Co LLC filed its Q2 2025 10-Q, detailing financial instruments and operations.

AI Summary

Apollo Asset Backed Credit Co LLC filed its 10-Q for the period ending June 30, 2025. The filing details the company's financial position and operations, including its involvement with various financial instruments. The company is incorporated in Delaware and its fiscal year ends on December 31.

Why It Matters

This filing provides insight into the financial health and investment strategies of Apollo Asset Backed Credit Co LLC, which can influence investor decisions and market perception.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant negative news.

Key Players & Entities

• Apollo Asset Backed Credit Co LLC (company) — Filer
• 20250630 (date) — Reporting Period End Date
• 20250814 (date) — Filing Date
• GS Bank USA CLO Member (company) — Financial Instrument Reference
• American Airlines Group Inc (company) — Financial Instrument Reference

FAQ

Filing Documents

• ck0002000597-20250630.htm (10-Q) — 10575KB
• ck0002000597-ex31_1.htm (EX-31.1) — 13KB
• ck0002000597-ex31_2.htm (EX-31.2) — 14KB
• ck0002000597-ex32_1.htm (EX-32.1) — 8KB
• ck0002000597-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-25-108339.txt ( ) — 35639KB
• ck0002000597-20250630.xsd (EX-101.SCH) — 1495KB
• ck0002000597-20250630_htm.xml (XML) — 10532KB

Financial Statements

Financial Statements 1 Consolidated Statements of Assets and Liabilities as of June 30, 2025 (Unaudited) and as of December 31, 2024 1 Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 (Unaudited) 4 Consolidated Statements of Changes in Net Assets for the three and six months ended June 30, 2025 and 2024 (Unaudited) 5 Consolidated Statement of Cash Flows for the six months ended June 30, 2025 and 2024 (Unaudited) 6 Consolidated Condensed Schedule of Investments as of June 30, 2025 (Unaudited) 7 Consolidated Condensed Schedule of Investments as of December 31, 2024 10

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 13 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 50 Item 4.

Controls and Procedures

Controls and Procedures 51 Part II . Other Information 52 Item 1.

Legal Proceedings

Legal Proceedings 52 Item 1A.

Risk Factors

Risk Factors 52 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 52 Item 6. Exhibits 54 Special Note Regarding Forward-Looking Statements Some of the statements in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the " Securities Act "), and Section 21E of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), because they relate to future events or our future performance or financial condition. The forward-looking statements contained in this Quarterly Report on Form 10-Q may include statements as to: our future operating results; our business prospects and the prospects of the Asset-Backed Finance Assets (as defined below) we acquire, control and manage; our ability to raise sufficient capital to execute our acquisition and lending strategies; the ability of the Operating Manager (as defined below) to source adequate acquisition and lending opportunities to efficiently deploy capital; the ability of our Asset-Backed Finance Assets to achieve their objectives; our current and expected financing arrangements; changes in the general interest rate environment; the adequacy of our cash resources, financing sources and working capital; the timing and amount of cash flows, distributions and dividends, if any, from our Asset-Backed Finance Assets; our contractual arrangements and relationships with third parties; actual and potential conflicts of interest with the Operating Manager or any of its affiliates; the dependence of our future success on the general economy and its effect on the industries in which we acquire, control and manage Asset-Backed Finance Assets; our use of financial leverage; the ability of the Operating Manager to identify, acquire and manage our A

Financial In formation

Part I. Financial In formation

Financ ial Statements

Item 1. Financ ial Statements Apollo Asset Backed Credit Company LLC Consolidated Statements of Assets a nd Liabilities (in thousands, except share and per share data) As of June 30, 2025 As of Dec 31, 2024 (Unaudited) Series I Series II Total Series I Series II Total Assets Investments at fair value (cost at June 30, 2025 of $ 174,739 ; $ 541,342 ; $ 716,081 , respectively and at December 31, 2024 of $ 62,730 ; $ 152,686 ; $ 215,416 , respectively) $ 179,388 $ 556,072 $ 735,460 $ 62,055 $ 151,402 $ 213,457 Derivative assets, at fair value (cost at June 30, 2025 of $ 10,684 ; $ 33,342 ; $ 44,026 , respectively and at December 31, 2024 of $ 2,553 ; $ 6,448 ; $ 9,001 , respectively) 10,823 33,548 44,371 3,099 7,562 10,661 Cash and cash equivalents 7,554 13,716 21,270 16,817 41,770 58,587 Due from Operating Manager 2,347 7,275 9,622 1,767 4,312 6,079 Interest receivable 1,102 3,457 4,559 406 948 1,354 Deferred offering expenses 602 1,865 2,467 810 1,976 2,786 Capital subscriptions receivable - 203 203 540 - 540 Dividends receivable 1,095 3,393 4,488 - - - Receivable for investments sold 4,730 14,661 19,391 5 11 16 Prepaid expenses and other assets 5,652 17,285 22,937 1,026 2,364 3,390 Total assets $ 213,293 $ 651,475 $ 864,768 $ 86,525 $ 210,345 $ 296,870 Liabilities Derivative liabilities, at fair value (cost at June 30, 2025 of $ 0 ; $ 0 ; $ 0 , respectively and at December 31, 2024 of $ 6 ; $ 20 ; $ 26 , respectively) $ 2,917 $ 9,043 $ 11,960 $ 38 $ 93 $ 131 Notes payable 16,635 49,991 66,626 751 751 1,502 Payable for investments purchased 1,600 5,738 7,338 1,409 3,436 4,845 Due to Operating Manager 2,665 8,262 10,927 2,133 5,205 7,338 Distributions payable 2,814 9,448 12,262 741 3,290

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View this 10-Q filing on SEC EDGAR