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ARES MANAGEMENT LLC

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13F filer, CIK 1259313, LOS ANGELES, CA

ARES MANAGEMENT LLC reported $1,750,435,652 across 35 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 90.2% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-26-015209

Period
2025-12-31
Reported value
$1.75B
Holdings
35
Top 10 weight
90.2%
New
4
Sold out
4

Part of the filer group ARES MANAGEMENT LLC

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
OTFadded+601,104$8.74M
GSBDadded+614,637$5.7M
FIPnew+1,197,554$5.52M
OBDCadded+359,793$4.47M
ARCCadded+191,434$3.87M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SLRCexited-138,502-$2.12M
BBDCreduced-206,936-$1.9M
TSLXreduced-40,000-$869K
BXSLreduced-20,000-$527K
OCSLreduced-12,000-$153K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001104659-26-015209, largest first. % of portfolio is the value over $1,750,435,652, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SVVSAVERS VALUE VLG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 134,659,188 shares; 2024Q4: 134,659,188 shares; 2025Q1: 134,659,188 shares; 2025Q2: 117,449,188 shares; 2025Q3: 117,449,188 shares; 2025Q4: 117,449,188 shares 117,449,188$1.1B62.67%0Timeline
GBTGGLOBAL BUSINESS TRAVEL GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,396,517 shares; 2024Q4: 11,396,517 shares; 2025Q1: 11,396,517 shares; 2025Q2: 13,886,023 shares; 2025Q3: 13,886,023 shares; 2025Q4: 13,886,023 shares 13,886,023$106M6.07%0Timeline
CCOCLEAR CHANNEL OUTDOOR HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,829,046 shares; 2024Q4: 55,829,046 shares; 2025Q1: 55,829,046 shares; 2025Q2: 55,829,046 shares; 2025Q3: 41,197,491 shares; 2025Q4: 41,197,491 shares 41,197,491$91M5.2%0Timeline
CTEVCLARITEV CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 749,738 shares; 2024Q4: 893,738 shares; 2025Q1: 1,863,105 shares; 2025Q2: 1,863,105 shares; 2025Q3: 1,863,105 shares; 2025Q4: 1,863,105 shares 1,863,105$79.6M4.55%0Timeline
ARCCARES CAPITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,153,544 shares; 2024Q4: 1,897,505 shares; 2025Q1: 1,888,631 shares; 2025Q2: 1,861,913 shares; 2025Q3: 2,054,376 shares; 2025Q4: 2,245,810 shares 2,245,810$45.4M2.6%+191,434Timeline
GBDCGOLUB CAP BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,844,260 shares; 2024Q4: 2,844,260 shares; 2025Q1: 2,498,802 shares; 2025Q2: 2,571,210 shares; 2025Q3: 2,571,210 shares; 2025Q4: 2,736,210 shares 2,736,210$37.1M2.12%+165,000Timeline
OBDCBLUE OWL CAPITAL CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,446,252 shares; 2024Q4: 2,266,804 shares; 2025Q1: 2,336,822 shares; 2025Q2: 2,487,964 shares; 2025Q3: 2,487,964 shares; 2025Q4: 2,847,757 shares 2,847,757$35.4M2.02%+359,793Timeline
BBDCBARINGS BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,607,096 shares; 2024Q4: 3,607,096 shares; 2025Q1: 3,607,096 shares; 2025Q2: 3,797,112 shares; 2025Q3: 3,797,112 shares; 2025Q4: 3,590,176 shares 3,590,176$33M1.88%-206,936Timeline
TSLXSIXTH STREET SPECIALTY LENDIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,555,751 shares; 2024Q4: 1,555,751 shares; 2025Q1: 1,372,689 shares; 2025Q2: 1,402,689 shares; 2025Q3: 1,394,779 shares; 2025Q4: 1,354,779 shares 1,354,779$29.4M1.68%-40,000Timeline
OCSLOAKTREE SPECIALTY LENDINGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,977,378 shares; 2024Q4: 1,977,378 shares; 2025Q1: 1,977,378 shares; 2025Q2: 1,945,305 shares; 2025Q3: 1,945,305 shares; 2025Q4: 1,933,305 shares 1,933,305$24.6M1.41%-12,000Timeline
BXSLBLACKSTONE SECD LENDING FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,083,945 shares; 2024Q4: 1,083,945 shares; 2025Q1: 791,100 shares; 2025Q2: 821,100 shares; 2025Q3: 821,100 shares; 2025Q4: 801,100 shares 801,100$21.1M1.21%-20,000Timeline
FSKFS KKR CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,603,682 shares; 2024Q4: 1,603,682 shares; 2025Q1: 1,312,833 shares; 2025Q2: 1,285,492 shares; 2025Q3: 1,280,482 shares; 2025Q4: 1,277,482 shares 1,277,482$18.9M1.08%-3,000Timeline
OTFBLUE OWL TECHNOLOGY FIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 539,064 shares; 2025Q4: 1,140,168 shares 1,140,168$16.6M0.95%+601,104Timeline
GSBDGOLDMAN SACHS BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 461,984 shares; 2025Q2: 798,421 shares; 2025Q3: 798,421 shares; 2025Q4: 1,413,058 shares 1,413,058$13.1M0.75%+614,637Timeline
TEMTEMPUS AI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 164,383 shares; 2024Q4: 164,383 shares; 2025Q1: 164,383 shares; 2025Q2: 164,383 shares; 2025Q3: 164,383 shares; 2025Q4: 164,383 shares 164,383$9.71M0.55%0Timeline
ARKOARKO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,110,000 shares; 2024Q4: 2,110,000 shares; 2025Q1: 2,110,000 shares; 2025Q2: 2,110,000 shares; 2025Q3: 2,110,000 shares; 2025Q4: 2,110,000 shares 2,110,000$9.58M0.55%0Timeline
TRINTRINITY CAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 440,000 shares; 2024Q4: 549,839 shares; 2025Q1: 545,723 shares; 2025Q2: 545,723 shares; 2025Q3: 545,723 shares; 2025Q4: 545,723 shares 545,723$7.99M0.46%0Timeline
MSIFMSC INCOME FUND INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 520,000 shares; 2025Q2: 408,393 shares; 2025Q3: 408,393 shares; 2025Q4: 588,251 shares 588,251$7.73M0.44%+179,858Timeline
CCAPCRESCENT CAP BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 469,573 shares; 2024Q4: 469,573 shares; 2025Q1: 469,573 shares; 2025Q2: 516,409 shares; 2025Q3: 516,409 shares; 2025Q4: 516,409 shares 516,409$7.26M0.41%0Timeline
OPALOPAL FUELS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,059,533 shares; 2024Q4: 3,059,533 shares; 2025Q1: 3,059,533 shares; 2025Q2: 3,059,533 shares; 2025Q3: 3,059,533 shares; 2025Q4: 3,059,533 shares 3,059,533$7.21M0.41%0Timeline
MFICMIDCAP FINANCIAL INVSTMNT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 310,000 shares; 2024Q4: 482,032 shares; 2025Q1: 482,032 shares; 2025Q2: 545,532 shares; 2025Q3: 545,532 shares; 2025Q4: 545,532 shares 545,532$6.24M0.36%0Timeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,547,478 shares; 2024Q4: 3,547,478 shares; 2025Q1: 3,547,478 shares; 2025Q2: 3,547,478 shares; 2025Q3: 3,547,478 shares; 2025Q4: 3,547,478 shares 3,547,478$5.85M0.33%0Timeline
BRCBBLACK ROCK COFFEE BAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 250,676 shares; 2025Q4: 250,676 shares 250,676$5.58M0.32%0Timeline
NMFCNEW MTN FIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 491,694 shares; 2024Q4: 566,186 shares; 2025Q1: 566,186 shares; 2025Q2: 596,371 shares; 2025Q3: 596,371 shares; 2025Q4: 602,575 shares 602,575$5.55M0.32%+6,204Timeline
FIPFTAI INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,197,554 shares 1,197,554$5.52M0.32%newTimeline
RWAYRUNWAY GROWTH FINANCE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 304,698 shares; 2024Q4: 439,943 shares; 2025Q1: 459,943 shares; 2025Q2: 435,885 shares; 2025Q3: 435,885 shares; 2025Q4: 553,123 shares 553,123$4.94M0.28%+117,238Timeline
NCDLNUVEEN CHURCHILL DIRECT LENDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 133,070 shares; 2024Q4: 133,070 shares; 2025Q1: 109,156 shares; 2025Q2: 125,156 shares; 2025Q3: 125,156 shares; 2025Q4: 360,830 shares 360,830$4.81M0.27%+235,674Timeline
HTGCHERCULES CAPITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 198,306 shares; 2024Q4: 226,606 shares; 2025Q1: 201,606 shares; 2025Q2: 201,606 shares; 2025Q3: 201,606 shares; 2025Q4: 201,606 shares 201,606$3.79M0.22%0Timeline
OXLCOXFORD LANE CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 247,500 shares 247,500$3.62M0.21%newTimeline
ECCEAGLE POINT CR COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 311,659 shares 311,659$1.8M0.1%newTimeline
MSDLMORGAN STANLEY DIRECT LENDINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 100,000 shares 100,000$1.65M0.09%newTimeline
RENTRENT THE RUNWAY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 169,383 shares; 2024Q4: 169,383 shares; 2025Q1: 169,383 shares; 2025Q2: 169,383 shares; 2025Q3: 169,383 shares; 2025Q4: 169,383 shares 169,383$1.34M0.08%0Timeline
BCSFBAIN CAP SPECIALTY FIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 68,595 shares; 2024Q4: 68,595 shares; 2025Q1: 68,595 shares; 2025Q2: 68,595 shares; 2025Q3: 68,595 shares; 2025Q4: 68,595 shares 68,595$954K0.05%0Timeline
YJYUNJI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 215,519,700 shares; 2025Q3: 215,800,000 shares; 2025Q4: 215,800,000 shares 215,800,000$637K0.04%0Timeline
UNITUNITI GROUP LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 14,518 shares; 2025Q4: 14,518 shares 14,518$102K0.01%0Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
XHBSPDR SERIES TRUST200,000$22.2Mput
SLRCSLR INVESTMENT CORP138,502$2.12Mshares
ARKO CORPARKO CORP1,100,000$10.2Kshares
XHGXCHANGE TEC.INC419,729$217shares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001104659-26-015209 base2026-02-13acceptance time not in the bulk data set