Ares Management LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Ares Management LLC reported 33 stock positions worth $4.5 billion. Its top holding was Savers Value Village (SVV) at 58.3% of the portfolio, followed by Frontier Communications Pare (FYBR, 21.4%) and Yunji Inc.-ADR (YJ, 4.0%). Compared with Q4 2023, it opened 2 new positions, sold out of 6, added to 11 and reduced 6. The biggest buy was FS KKR Capital (FSK, shares +75%) and the biggest sale an exit from BlackRock Capital Investment (BKCC).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001259313
- Portfolio Value
- $4.5B (Q1 2024)
- SEC Filing
- 0001104659-24-061893 ↗ filed May 15, 2024
Holdings Value
Holdings 33 stocks · $4.5B
| SVV Savers Value Village Inc. | 58.31% | 134,659,188 | $2.6B | No change |
| FYBR Frontier Communications Pare | 21.41% | 38,912,895 | $953.4M | No change |
| YJ Yunji Inc.-ADR | 4.03% | 215,800,000 | $179.3M | No change |
| CRC California Resources Corp. | 3.34% | 2,699,385 | $148.7M | No change |
| CCO Clear Channel Outdoor Holdin | 2.07% | 55,829,046 | $92.1M | No change |
| GBTG Global Business Travel Group | 1.22% | 9,016,773 | $54.2M | No change |
| ARCC Ares Capital Corp. | 1.03% | 2,213,296 | $46.1M | Add +15.1% |
| BBDC Barings BDC Inc. | 0.86% | 4,102,857 | $38.2M | Reduce -5.6% |
| GBDC Golub Capital BDC Inc. | 0.81% | 2,157,554 | $35.9M | Add +18.2% |
| OBDC Blue Owl Capital Corp. | 0.74% | 2,136,939 | $32.9M | Add +24.4% |
| BXSL Blackstone Secured Lending F | 0.72% | 1,024,015 | $31.9M | Add +10.3% |
| OCSL Oaktree Specialty Lending Co. | 0.67% | 1,508,987 | $29.7M | Add +31.9% |
| FSK FS KKR Capital Corp. | 0.65% | 1,516,222 | $28.9M | Add +74.8% |
| TSLX Sixth Street Specialty Lendi | 0.62% | 1,294,144 | $27.7M | Add +68.5% |
| SLRC SLR Investment Corp. | 0.49% | 1,429,348 | $21.9M | Add +4.2% |
| PNNT Pennantpark Investment Corp. | 0.45% | 2,880,838 | $19.8M | Reduce -9.6% |
| MULTIPLAN CORP | 0.38% | 21,125,350 | $17.1M | Add +8.3% |
| OPAL Opal Fuels Inc. Class A | 0.34% | 3,059,533 | $15.4M | No change |
| SBOW Silverbow Resources Inc. | 0.30% | 385,897 | $13.2M | Reduce -2.5% |
| ARKO Arko Corp. | 0.27% | 2,110,000 | $12.0M | No change |
| TCPC BlackRock TCP Capital Corp. | 0.22% | 959,295 | $10.0M | New |
| SMLP Summit Midstream Partners LP | 0.22% | 341,347 | $9.6M | Reduce -8.2% |
| OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC | 0.21% | 3,547,478 | $9.3M | No change |
| VNET Vnet Group Inc.-ADR | 0.20% | 5,604,821 | $8.7M | No change |
| CCAP Crescent Capital BDC Inc. | 0.19% | 501,573 | $8.7M | Add +6.7% |
| RWAY Runway Growth Finance Corp. | 0.08% | 286,000 | $3.5M | Reduce -35.6% |
| HTGC Hercules Capital Inc. | 0.06% | 143,038 | $2.6M | Add +21.2% |
| BCSF Bain Capital Specialty Finan | 0.04% | 99,325 | $1.6M | Reduce -20.8% |
| AMLP Alerian MLP ETF | 0.03% | 32,000 | $1.5M | No change |
| RENT Rent the Runway Inc. | 0.03% | 3,387,678 | $1.2M | No change |
| NCDL Nuveen Churchill Direct Lend | 0.02% | 58,448 | $1.1M | New |
| DISH NETWORK CORP (DISH 0 12/15/25) | 0.01% | 460,000 | $336K | No change |
| XHG Xchange Tec.inc filed as FLJ GROUP LIMITED | 0.00% | 41,972,885,300 | $51K | No change |
Options reported separately and not counted above: SPY puts ($68.0M), USO calls ($20.5M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $546K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ARKOW Arko Corp. -CW25 | *W EXP 12/22/202 | 1,100,000 | $546K | No change |
Total filed on the 13F, all lines: $4.5B.
Portfolio Sells Q4 2023 → Q1 2024
| BKCC BlackRock Capital Investment | Sold out | 0.00% | −0.39 |
| PNNT Pennantpark Investment Corp. | Reduce -9.6% | 0.45% | −0.08 |
| BHC Bausch Health Cos Inc. | Sold out | 0.00% | −0.06 |
| GSBD Goldman Sachs BDC Inc. | Sold out | 0.00% | −0.06 |
| RWAY Runway Growth Finance Corp. | Reduce -35.6% | 0.08% | −0.06 |
| DBD Diebold Nixdorf Inc. | Sold out | 0.00% | −0.04 |
| BBDC Barings BDC Inc. | Reduce -5.6% | 0.86% | −0.03 |
| NMFC New Mountain Finance Corp. | Sold out | 0.00% | −0.03 |
| TPC Tutor Perini Corp. | Sold out | 0.00% | −0.01 |
| BCSF Bain Capital Specialty Finan | Reduce -20.8% | 0.04% | −0.01 |
| SBOW Silverbow Resources Inc. | Reduce -2.5% | 0.30% | +0.02 |
| SMLP Summit Midstream Partners LP | Reduce -8.2% | 0.22% | +0.06 |
Portfolio Buys Q4 2023 → Q1 2024
| FSK FS KKR Capital Corp. | Add +74.8% | 0.65% | +0.24 |
| TSLX Sixth Street Specialty Lendi | Add +68.5% | 0.62% | +0.23 |
| TCPC BlackRock TCP Capital Corp. | New | 0.22% | +0.22 |
| GBDC Golub Capital BDC Inc. | Add +18.2% | 0.81% | +0.15 |
| OBDC Blue Owl Capital Corp. | Add +24.4% | 0.74% | +0.13 |
| ARCC Ares Capital Corp. | Add +15.1% | 1.03% | +0.12 |
| OCSL Oaktree Specialty Lending Co. | Add +31.9% | 0.67% | +0.11 |
| BXSL Blackstone Secured Lending F | Add +10.3% | 0.72% | +0.10 |
| NCDL Nuveen Churchill Direct Lend | New | 0.02% | +0.02 |
| HTGC Hercules Capital Inc. | Add +21.2% | 0.06% | +0.01 |
| SLRC SLR Investment Corp. | Add +4.2% | 0.49% | +0.00 |
| CCAP Crescent Capital BDC Inc. | Add +6.7% | 0.19% | −0.00 |
| MULTIPLAN CORP | Add +8.3% | 0.38% | −0.28 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 41 | $2.2B | SVV, XE, CCO, CTEV, ARXS |
| Q1 2026 | 37 | $1.5B | SVV, CCO, GBTG, INTEGER HOLDINGS CORP (ITGR 1.875 03/15/30), ARCC |
| Q4 2025 | 35 | $1.8B | SVV, GBTG, CCO, CTEV, ARCC |
| Q3 2025 | 33 | $2.2B | SVV, GBTG, CTEV, CCO, ARCC |
| Q2 2025 | 33 | $2.0B | SVV, FYBR, GBTG, CTEV, CCO |
| Q1 2025 | 32 | $1.6B | SVV, FYBR, GBTG, CCO, ARCC |
| Q4 2024 | 33 | $2.8B | SVV, FYBR, GBTG, CCO, GBDC |
| Q3 2024 | 36 | $3.6B | SVV, FYBR, CRC, CCO, GBTG |
| Q2 2024 | 33 | $3.5B | SVV, FYBR, YJ, CRC, CCO |
| Q1 2024 | 33 | $4.5B | SVV, FYBR, YJ, CRC, CCO |