Ares Management LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Ares Management LLC reported 33 stock positions worth $2.8 billion. Its top holding was Savers Value Village (SVV) at 48.5% of the portfolio, followed by Frontier Communications Pare (FYBR, 29.2%) and Global Business Travel (GBTG, 3.7%). Compared with Q3 2024, it sold out of 3, added to 7 and reduced 6. The biggest buy was Claritev (CTEV, shares +19%) and the biggest sale Frontier Communications Pare (FYBR, shares −38%).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001259313
- Portfolio Value
- $2.8B (Q4 2024)
- SEC Filing
- 0001104659-25-014229 ↗ filed Feb 14, 2025
Holdings Value
Holdings 33 stocks · $2.8B
| SVV Savers Value Village Inc. | 48.55% | 134,659,188 | $1.4B | No change |
| FYBR Frontier Communications Pare | 29.23% | 23,945,156 | $830.9M | Reduce -38.5% |
| GBTG Global Business Travel Group | 3.72% | 11,396,517 | $105.8M | No change |
| CCO Clear Channel Outdoor Holdin | 2.69% | 55,829,046 | $76.5M | No change |
| GBDC Golub Capital BDC Inc. | 1.52% | 2,844,260 | $43.1M | No change |
| ARCC Ares Capital Corp. | 1.46% | 1,897,505 | $41.5M | Reduce -11.9% |
| CRC California Resources Corp. | 1.29% | 708,676 | $36.8M | Reduce -73.8% |
| BXSL Blackstone Secured Lending F | 1.23% | 1,083,945 | $35.0M | No change |
| FSK FS KKR Capital Corp. | 1.23% | 1,603,682 | $34.8M | No change |
| BBDC Barings BDC Inc. | 1.21% | 3,607,096 | $34.5M | No change |
| OBDC Blue Owl Capital Corp. | 1.21% | 2,266,804 | $34.3M | Reduce -7.3% |
| TSLX Sixth Street Specialty Lendi | 1.17% | 1,555,751 | $33.1M | No change |
| OCSL Oaktree Specialty Lending Co. | 1.06% | 1,977,378 | $30.2M | No change |
| SLRC SLR Investment Corp. | 0.81% | 1,430,205 | $23.1M | No change |
| ARKO Arko Corp. | 0.49% | 2,110,000 | $13.9M | No change |
| CTEV Claritev Corp. filed as MULTIPLAN CORPORATION | 0.46% | 893,738 | $13.2M | Add +19.2% |
| OPAL Opal Fuels Inc. Class A | 0.36% | 3,059,533 | $10.4M | No change |
| CCAP Crescent Capital BDC Inc. | 0.32% | 469,573 | $9.0M | No change |
| OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC | 0.30% | 3,547,478 | $8.5M | No change |
| TRIN Trinity Capital Inc. | 0.28% | 549,839 | $8.0M | Add +25.0% |
| MFIC Midcap Financial Investment | 0.23% | 482,032 | $6.5M | Add +55.5% |
| NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP | 0.22% | 566,186 | $6.4M | Add +15.2% |
| TEM Tempus AI Inc. Class A | 0.20% | 164,383 | $5.5M | No change |
| RWAY Runway Growth Finance Corp. | 0.17% | 439,943 | $4.8M | Add +44.4% |
| HTGC Hercules Capital Inc. | 0.16% | 226,606 | $4.6M | Add +14.3% |
| SMC Summit Midstream Corp. | 0.11% | 80,594 | $3.0M | Reduce -59.4% |
| OBDE Blue Owl Capital Corp. III | 0.10% | 187,449 | $2.7M | Add +595.2% |
| NCDL Nuveen Churchill Direct Lend | 0.08% | 133,070 | $2.2M | No change |
| RENT Rent the Runway Inc. Class A | 0.05% | 169,383 | $1.4M | No change |
| BCSF Bain Capital Specialty Finan | 0.04% | 68,595 | $1.2M | No change |
| YJ Yunji Inc.-ADR | 0.03% | 215,800,000 | $869K | No change |
| TCPC BlackRock TCP Capital Corp. | 0.03% | 93,053 | $810K | Reduce -45.2% |
| XHG Xchange Tec.inc | 0.00% | 41,972,885,300 | $3K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $495K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ARKOW Arko Corp. -CW25 | *W EXP 12/22/202 | 1,100,000 | $495K | No change |
Total filed on the 13F, all lines: $2.8B.
Portfolio Sells Q3 2024 → Q4 2024
| FYBR Frontier Communications Pare | Reduce -38.5% | 29.23% | −9.12 |
| CRC California Resources Corp. | Reduce -73.8% | 1.29% | −2.63 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −2.23 |
| SMC Summit Midstream Corp. | Reduce -59.4% | 0.11% | −0.09 |
| PNNT Pennantpark Investment Corp. | Sold out | 0.00% | −0.07 |
| DISH NETWORK CORP (DISH 0 12/15/25) | Sold out | 0.00% | −0.01 |
| TCPC BlackRock TCP Capital Corp. | Reduce -45.2% | 0.03% | −0.01 |
| ARCC Ares Capital Corp. | Reduce -11.9% | 1.46% | +0.21 |
| OBDC Blue Owl Capital Corp. | Reduce -7.3% | 1.21% | +0.22 |
Portfolio Buys Q3 2024 → Q4 2024
| CTEV Claritev Corp. | Add +19.2% | 0.46% | +0.31 |
| TRIN Trinity Capital Inc. | Add +25.0% | 0.28% | +0.11 |
| MFIC Midcap Financial Investment | Add +55.5% | 0.23% | +0.11 |
| OBDE Blue Owl Capital Corp. III | Add +595.2% | 0.10% | +0.08 |
| RWAY Runway Growth Finance Corp. | Add +44.4% | 0.17% | +0.08 |
| NMFC New Mountain Finance Corp. | Add +15.2% | 0.22% | +0.06 |
| HTGC Hercules Capital Inc. | Add +14.3% | 0.16% | +0.05 |
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 |