Ares Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Ares Management LLC reported 35 stock positions worth $1.8 billion. Its top holding was Savers Value Village (SVV) at 62.7% of the portfolio, followed by Global Business Travel (GBTG, 6.1%) and Clear Channel Outdoor Holdin (CCO, 5.2%). Compared with Q3 2025, it opened 4 new positions, sold out of 2, added to 9 and reduced 5. The biggest buy was Ares Capital (ARCC, shares +9%) and the biggest sale an exit from SLR Investment (SLRC).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001259313
- Portfolio Value
- $1.8B (Q4 2025)
- SEC Filing
- 0001104659-26-015209 ↗ filed Feb 13, 2026
Holdings Value
Holdings 35 stocks · $1.8B
| SVV Savers Value Village Inc. | 62.67% | 117,449,188 | $1.1B | No change |
| GBTG Global Business Travel Group | 6.07% | 13,886,023 | $106.2M | No change |
| CCO Clear Channel Outdoor Holdin | 5.20% | 41,197,491 | $91.0M | No change |
| CTEV Claritev Corp. | 4.55% | 1,863,105 | $79.6M | No change |
| ARCC Ares Capital Corp. | 2.60% | 2,245,810 | $45.4M | Add +9.3% |
| GBDC Golub Capital BDC Inc. | 2.12% | 2,736,210 | $37.1M | Add +6.4% |
| OBDC Blue Owl Capital Corp. | 2.02% | 2,847,757 | $35.4M | Add +14.5% |
| BBDC Barings BDC Inc. | 1.88% | 3,590,176 | $33.0M | Reduce -5.5% |
| TSLX Sixth Street Specialty Lendi | 1.68% | 1,354,779 | $29.4M | Reduce -2.9% |
| OCSL Oaktree Specialty Lending Co. | 1.41% | 1,933,305 | $24.6M | Reduce -0.6% |
| BXSL Blackstone Secured Lending F | 1.21% | 801,100 | $21.1M | Reduce -2.4% |
| FSK FS KKR Capital Corp. | 1.08% | 1,277,482 | $18.9M | Reduce -0.2% |
| OTF Blue Owl Technology Finance | 0.95% | 1,140,168 | $16.6M | Add +111.5% |
| GSBD Goldman Sachs BDC Inc. | 0.75% | 1,413,058 | $13.1M | Add +77.0% |
| TEM Tempus AI Inc. Class A | 0.55% | 164,383 | $9.7M | No change |
| ARKO Arko Corp. | 0.55% | 2,110,000 | $9.6M | No change |
| TRIN Trinity Capital Inc. | 0.46% | 545,723 | $8.0M | No change |
| MSIF MSC Income Fund Inc. | 0.44% | 588,251 | $7.7M | Add +44.0% |
| CCAP Crescent Capital BDC Inc. | 0.41% | 516,409 | $7.3M | No change |
| OPAL Opal Fuels Inc. Class A | 0.41% | 3,059,533 | $7.2M | No change |
| MFIC Midcap Financial Investment | 0.36% | 545,532 | $6.2M | No change |
| OPTU Optimum Communications Inc. Class A | 0.33% | 3,547,478 | $5.9M | No change |
| BRCB Black Rock Coffee Bar Inc. Class A | 0.32% | 250,676 | $5.6M | No change |
| NMFC New Mountain Finance Corp. filed as NEW MTN FIN CORP | 0.32% | 602,575 | $5.5M | Add +1.0% |
| FIP Ftai Infrastructure Inc. | 0.32% | 1,197,554 | $5.5M | New |
| RWAY Runway Growth Finance Corp. | 0.28% | 553,123 | $4.9M | Add +26.9% |
| NCDL Nuveen Churchill Direct Lend | 0.28% | 360,830 | $4.8M | Add +188.3% |
| HTGC Hercules Capital Inc. | 0.22% | 201,606 | $3.8M | No change |
| OXLC Oxford Lane Capital Corp. | 0.21% | 247,500 | $3.6M | New |
| ECC Eagle Point Credit Co. | 0.10% | 311,659 | $1.8M | New |
| MSDL Morgan Stanley Direct Lendin | 0.09% | 100,000 | $1.6M | New |
| RENT Rent the Runway Inc. Class A | 0.08% | 169,383 | $1.3M | No change |
| BCSF Bain Capital Specialty Finan | 0.05% | 68,595 | $954K | No change |
| YJ Yunji Inc.-ADR | 0.04% | 215,800,000 | $637K | No change |
| UNIT Uniti Group Inc. | 0.01% | 14,518 | $102K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| SLRC SLR Investment Corp. | Sold out | 0.00% | −0.10 |
| XHG Xchange Tec.inc | Sold out | 0.00% | 0.00 |
| FSK FS KKR Capital Corp. | Reduce -0.2% | 1.08% | +0.20 |
| TSLX Sixth Street Specialty Lendi | Reduce -2.9% | 1.68% | +0.22 |
| BXSL Blackstone Secured Lending F | Reduce -2.4% | 1.21% | +0.22 |
| OCSL Oaktree Specialty Lending Co. | Reduce -0.6% | 1.41% | +0.24 |
| BBDC Barings BDC Inc. | Reduce -5.5% | 1.88% | +0.36 |
Portfolio Buys Q3 2025 → Q4 2025
| ARCC Ares Capital Corp. | Add +9.3% | 2.60% | +0.67 |
| OTF Blue Owl Technology Finance | Add +111.5% | 0.95% | +0.61 |
| OBDC Blue Owl Capital Corp. | Add +14.5% | 2.02% | +0.57 |
| GBDC Golub Capital BDC Inc. | Add +6.4% | 2.12% | +0.51 |
| GSBD Goldman Sachs BDC Inc. | Add +77.0% | 0.75% | +0.38 |
| FIP Ftai Infrastructure Inc. | New | 0.32% | +0.32 |
| OXLC Oxford Lane Capital Corp. | New | 0.21% | +0.21 |
| NCDL Nuveen Churchill Direct Lend | Add +188.3% | 0.28% | +0.20 |
| MSIF MSC Income Fund Inc. | Add +44.0% | 0.44% | +0.20 |
| ECC Eagle Point Credit Co. | New | 0.10% | +0.10 |
| MSDL Morgan Stanley Direct Lendin | New | 0.09% | +0.09 |
| RWAY Runway Growth Finance Corp. | Add +26.9% | 0.28% | +0.08 |
| NMFC New Mountain Finance Corp. | Add +1.0% | 0.32% | +0.05 |
Options Activity Q3 2025 → Q4 2025
| XHB SS SPDR S&P Homebldrs ETF | put | Sold out | 200,000 | $22.2Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| ARKOW Arko Corp. -CW25 | *W EXP 12/22/202 | Sold out | 1,100,000 | $10Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |