Ares Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Ares Management LLC reported 32 stock positions worth $1.6 billion. Its top holding was Savers Value Village (SVV) at 57.0% of the portfolio, followed by Frontier Communications Pare (FYBR, 6.9%) and Global Business Travel (GBTG, 5.1%). Compared with Q4 2024, it opened 2 new positions, sold out of 3, added to 3 and reduced 9. The biggest buy was Claritev (CTEV, shares +108%) and the biggest sale Frontier Communications Pare (FYBR, shares −87%).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001259313
- Portfolio Value
- $1.6B (Q1 2025)
- SEC Filing
- 0001104659-25-049525 ↗ filed May 15, 2025
Holdings Value
Holdings 32 stocks · $1.6B
| SVV Savers Value Village Inc. | 57.01% | 134,659,188 | $929.1M | No change |
| FYBR Frontier Communications Pare | 6.89% | 3,131,679 | $112.3M | Reduce -86.9% |
| GBTG Global Business Travel Group | 5.08% | 11,396,517 | $82.7M | No change |
| CCO Clear Channel Outdoor Holdin | 3.80% | 55,829,046 | $62.0M | No change |
| ARCC Ares Capital Corp. | 2.57% | 1,888,631 | $41.9M | Reduce -0.5% |
| CTEV Claritev Corp. | 2.36% | 1,863,105 | $38.4M | Add +108.5% |
| GBDC Golub Capital BDC Inc. | 2.32% | 2,498,802 | $37.8M | Reduce -12.2% |
| BBDC Barings BDC Inc. | 2.11% | 3,607,096 | $34.4M | No change |
| OBDC Blue Owl Capital Corp. | 2.10% | 2,336,822 | $34.3M | Add +3.1% |
| CRC California Resources Corp. | 1.91% | 708,676 | $31.2M | No change |
| TSLX Sixth Street Specialty Lendi | 1.89% | 1,372,689 | $30.7M | Reduce -11.8% |
| OCSL Oaktree Specialty Lending Co. | 1.86% | 1,977,378 | $30.4M | No change |
| FSK FS KKR Capital Corp. | 1.69% | 1,312,833 | $27.5M | Reduce -18.1% |
| BXSL Blackstone Secured Lending F | 1.57% | 791,100 | $25.6M | Reduce -27.0% |
| SLRC SLR Investment Corp. | 1.48% | 1,430,205 | $24.1M | No change |
| OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC | 0.58% | 3,547,478 | $9.4M | No change |
| MSIF MSC Income Fund Inc. | 0.53% | 520,000 | $8.6M | New |
| ARKO Arko Corp. | 0.51% | 2,110,000 | $8.3M | No change |
| TRIN Trinity Capital Inc. | 0.51% | 545,723 | $8.3M | Reduce -0.8% |
| CCAP Crescent Capital BDC Inc. | 0.49% | 469,573 | $8.0M | No change |
| TEM Tempus AI Inc. Class A | 0.49% | 164,383 | $7.9M | No change |
| NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP | 0.38% | 566,186 | $6.2M | No change |
| MFIC Midcap Financial Investment | 0.38% | 482,032 | $6.2M | No change |
| OPAL Opal Fuels Inc. Class A | 0.35% | 3,059,533 | $5.6M | No change |
| GSBD Goldman Sachs BDC Inc. | 0.33% | 461,984 | $5.4M | New |
| RWAY Runway Growth Finance Corp. | 0.29% | 459,943 | $4.8M | Add +4.5% |
| HTGC Hercules Capital Inc. | 0.24% | 201,606 | $3.9M | Reduce -11.0% |
| NCDL Nuveen Churchill Direct Lend | 0.11% | 109,156 | $1.9M | Reduce -18.0% |
| BCSF Bain Capital Specialty Finan | 0.07% | 68,595 | $1.1M | No change |
| YJ Yunji Inc.-ADR | 0.06% | 215,800,000 | $917K | No change |
| RENT Rent the Runway Inc. Class A | 0.05% | 169,383 | $755K | No change |
| XHG Xchange Tec.inc | 0.00% | 41,972,885,300 | $3K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $63K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ARKOW Arko Corp. -CW25 | *W EXP 12/22/202 | 1,100,000 | $63K | No change |
Total filed on the 13F, all lines: $1.6B.
Portfolio Sells Q4 2024 → Q1 2025
| FYBR Frontier Communications Pare | Reduce -86.9% | 6.89% | −22.33 |
| SMC Summit Midstream Corp. | Sold out | 0.00% | −0.11 |
| OBDE Blue Owl Capital Corp. III | Sold out | 0.00% | −0.10 |
| TCPC BlackRock TCP Capital Corp. | Sold out | 0.00% | −0.03 |
| NCDL Nuveen Churchill Direct Lend | Reduce -18.0% | 0.11% | +0.04 |
| HTGC Hercules Capital Inc. | Reduce -11.0% | 0.24% | +0.08 |
| TRIN Trinity Capital Inc. | Reduce -0.8% | 0.51% | +0.23 |
| BXSL Blackstone Secured Lending F | Reduce -27.0% | 1.57% | +0.34 |
| FSK FS KKR Capital Corp. | Reduce -18.1% | 1.69% | +0.46 |
| TSLX Sixth Street Specialty Lendi | Reduce -11.8% | 1.89% | +0.72 |
| GBDC Golub Capital BDC Inc. | Reduce -12.2% | 2.32% | +0.80 |
| ARCC Ares Capital Corp. | Reduce -0.5% | 2.57% | +1.11 |
Portfolio Buys Q4 2024 → Q1 2025
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 |