ATH.PD — what changed in the latest 10-Q
A section-by-section comparison of ATH.PD's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +119 | −156 | ~106 | 97 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~6 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −1 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-07
Inflows attributable to ACRA noncontrolling interests3,453 4,956
Our organic channels, including retail, flow reinsurance, institutional and other spread products, provided gross inflows of $19.7 billion and $25.6 billion for the three months ended March 31, 2026 and 2025, respectively, which were underwritten to attractive returns. Gross organic inflows decrease…
Within our retail channel, we had fixed annuity sales of $7.3 billion and $9.5 billion for the three months ended March 31, 2026 and 2025, respectively. The decrease in our retail channel was primarily driven by a decrease in the sales of our multi-year guaranteed annuity (MYGA) and fixed indexed an…
Within our flow reinsurance channel, we target reinsurance business consistent with our preferred liability characteristics, which provides us another channel to source liabilities with attractive crediting rates. We generated inflows through our flow reinsurance channel of $2.6 billion and $4.9 bil…
Within our institutional channel, we generated inflows of $8.5 billion and $11.1 billion for the three months ended March 31, 2026 and 2025, respectively, which was comprised entirely of funding agreement issuances. The decrease in our funding agreement channel from 2025 was primarily driven by a de…
Text removed vs the prior filing · source: 10-Q · 2025-11-10
Our total assets have grown to $429.9 billion as of September 30, 2025. For the nine months ended September 30, 2025, we generated an annualized net investment spread of 1.61%.
Three months ended September 30,Nine months ended September 30,
4 Year-to-date 2025 outflows exclude maturities of long-term repurchase agreements of $1.1 billion, which may be renewed upon joint agreement of the parties based on a variety of factors.
Our organic channels, including retail, flow reinsurance, institutional and other products, provided gross inflows of $69.4 billion and $56.8 billion for the nine months ended September 30, 2025 and 2024, respectively, which were underwritten to attractive returns. Gross organic inflows increased $1…
Within our retail channel, we had fixed annuity sales of $26.8 billion and $27.8 billion for the nine months ended September 30, 2025 and 2024, respectively. The decrease in our retail channel was primarily driven by a decrease in the sales of our multi-year guaranteed annuity (MYGA) product, partia…
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-07
From time to time, we may use our website as a channel of distribution of material information. Financial and other material information regarding the Company is routinely posted on and accessible at www.athene.com.
Text removed vs the prior filing · source: 10-Q · 2025-11-10
As previously disclosed, the Company entered into a letter agreement (Letter Agreement) with Martin P. Klein memorializing the terms of his transition from the Company. Pursuant to the terms of the Letter Agreement, on November 4, 2025, the parties agreed that the last day of Mr. Klein’s employment …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice