ARES MANAGEMENT LLC

LOS ANGELES, CA · CIK 1259313 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2005 · limited liability company

Assets managed$458.8bn
Staff3,990 · 1,550 in investment roles
Main clients (by assets)Private funds 88%, Insurers 9%, Sovereign wealth funds 1%
Private funds682 (255 hedge) · $417.6bn gross assets
Websitearesfoundation.org
Form ADV · 2026-08-26SEC adviser record

Legal entityARES MANAGEMENT LLC (US)

$2.3bn reported value +51.2% vs Q1 2026

44positions

83.3%in top 10

9 new 19 added 2 reduced 2 sold out vs Q1 2026

This report includes the holdings of 4 other managers that share the investment decisions:

ACOF Investment Management LLC – reports through this filing
ASOF Investment Management LLC – reports through this filing
ASSF Operating Manager IV, L.P. – reports through this filing
Ares Capital Management III LLC – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SAVERS VALUE VLG INC COM SVV	SVV	117,449,188	$1.2bn51.65%	51.65%	Unchanged
2	X-ENERGY INC COM CL A XE	XE	13,844,585	$254.2m11.08%	11.08%	New
3	CLEAR CHANNEL OUTDOOR HLDGS COM CCO	CCO	41,197,491	$99.7m4.35%	4.35%	Unchanged
4	CLARITEV CORPORATION CL A NEW CTEV	CTEV	1,863,105	$63.6m2.77%	2.77%	Unchanged
5	INTEGER HLDGS CORP DBCV 1.875% 3/1 · principal ITGR 1.875 03.15.30 · principal	ITGR 1.875 03.15.30	63,830,000	$61.5m2.68%	2.68%	New
6	ARXIS INC CL A COM ARXS	ARXS	1,254,547	$57.9m2.52%	2.52%	New
7	KODIAK AI INC. COM KDK	KDK	10,610,857	$53.9m2.35%	2.35%	New
8	ARES CAPITAL CORP COM ARCC	ARCC	2,783,165	$51.6m2.25%	2.25%	Added +170.7k	+170,690 6.5%
9	GOLUB CAP BDC INC COM GBDC	GBDC	3,357,115	$43.2m1.88%	1.88%	Added +298.8k	+298,759 9.8%
10	GLOBAL BUSINESS TRAVEL GROUP COM CL A COM CL A		4,338,264	$40.7m1.78%	1.78%	Reduced -9.5m	-9,547,759 -68.8%
11	BARINGS BDC INC COM BBDC	BBDC	4,164,327	$35.5m1.55%	1.55%	Added +534.2k	+534,151 14.7%
12	BLUE OWL CAPITAL CORPORATION COM OBDC	OBDC	2,872,757	$31.2m1.36%	1.36%	Added +25.0k	+25,000 0.9%
13	HAEMONETICS CORP MASS NOTE 2.500% 6/0 · principal HAE 2.5 06.01.29 · principal	HAE 2.5 06.01.29	30,765,000	$31.1m1.36%	1.36%	New
14	GOLDMAN SACHS BDC INC SHS GSBD	GSBD	3,147,251	$29.8m1.30%	1.30%	Added +976.1k	+976,078 45.0%
15	OAKTREE SPECIALTY LENDING CO COM OCSL	OCSL	2,204,305	$26.3m1.15%	1.15%	Added +105.0k	+105,000 5.0%
16	SIXTH STREET SPECIALTY LENDI COM TSLX	TSLX	1,404,779	$24.1m1.05%	1.05%	Added +50.0k	+50,000 3.7%
17	BLACKSTONE SECD LENDING FD COMMON STOCK BXSL	BXSL	895,687	$21.2m0.93%	0.93%	Added +90.0k	+90,000 11.2%
18	BLUE OWL TECHNOLOGY FIN CORP COMMON STOCK OTF	OTF	1,966,345	$20.4m0.89%	0.89%	Added +620.6k	+620,590 46.1%
19	ARKO CORP COM ARKO	ARKO	2,110,000	$16.9m0.74%	0.74%	Unchanged
20	MSC INCOME FUND INC COM MSIF	MSIF	1,267,910	$14.7m0.64%	0.64%	Added +441.3k	+441,264 53.4%
21	HERCULES CAPITAL INC COM HTGC	HTGC	776,606	$12.2m0.53%	0.53%	Unchanged
22	NUVEEN CHURCHILL DIRECT LEND COM SHS NCDL	NCDL	958,826	$11.9m0.52%	0.52%	Added +384.0k	+383,988 66.8%
23	CRESCENT CAP BDC INC COM CCAP	CCAP	1,088,183	$11.9m0.52%	0.52%	Added +541.8k	+541,774 99.2%
24	MORGAN STANLEY DIRECT LENDIN COM SHS MSDL	MSDL	775,128	$11.7m0.51%	0.51%	Added +363.1k	+363,128 88.1%
25	KODIAK AI INC. *W EXP 09/25/203 KDKRW	KDKRW	14,300,000	$10.6m0.46%	0.46%	New
26	TRINITY CAP INC COM TRIN	TRIN	545,723	$9.8m0.43%	0.43%	Unchanged
27	TEMPUS AI INC CL A TEM	TEM	164,383	$9.5m0.42%	0.42%	Unchanged
28	RUNWAY GROWTH FINANCE CORP COM RWAY	RWAY	1,517,179	$8.5m0.37%	0.37%	Added +339.4k	+339,356 28.8%
29	BAIN CAP SPECIALTY FIN INC COM STK BCSF	BCSF	588,471	$7.4m0.32%	0.32%	Added +493.8k	+493,817 521.7%
30	OPAL FUELS INC CLASS A COM OPAL	OPAL	3,059,533	$6.7m0.29%	0.29%	Unchanged
31	FTAI INFRASTRUCTURE INC COMMON STOCK FIP	FIP	1,197,554	$5.6m0.24%	0.24%	Unchanged
32	ALTICE USA INC CL A OPTU	OPTU	3,547,478	$5.1m0.22%	0.22%	Unchanged
33	CARLYLE SECURED LENDING INC COM CGBD	CGBD	472,187	$5.0m0.22%	0.22%	Added +232.2k	+232,187 96.7%
34	EAGLE POINT CREDIT COMPANY I COM ECC	ECC	1,198,419	$4.5m0.19%	0.19%	Added +127.3k	+127,271 11.9%
35	BLACKROCK TCP CAPITAL CORP COM TCPC	TCPC	1,054,771	$3.5m0.15%	0.15%	Added +509.8k	+509,802 93.5%
36	OXFORD LANE CAP CORP COM OXLC	OXLC	268,564	$2.4m0.10%	0.10%	Added +9.9k	+9,872 3.8%
37	BLACK ROCK COFFEE BAR INC CL A BRCB	BRCB	250,676	$2.1m0.09%	0.09%	Unchanged
38	FS KKR CAP CORP COM FSK	FSK	170,728	$1.8m0.08%	0.08%	Reduced -1.3m	-1,346,754 -88.8%
39	YUNJI INC SPONSORED ADS A YJ	YJ	215,800,000	$766.1k0.03%	0.03%	Unchanged
40	RENT THE RUNWAY INC CL A NEW RENT	RENT	169,383	$533.6k0.02%	0.02%	Unchanged
41	UNITI GROUP LLC COM SHS UNIT	UNIT	14,518	$166.5k0.01%	0.01%	Unchanged
42	AEYE INC CL A NEW LIDR	LIDR	4,564	$6.6k0.00%	0.00%	New
43	SKILLSOFT CORP CL A SKIL	SKIL	865	$4.5k0.00%	0.00%	New
44	ARES DYNAMIC CR ALLOCATION F COM ARDC	ARDC	59	$7450.00%	0.00%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
INTEGER HLDGS CORP ITGR 1.875 03.15.30	ITGR 1.875 03.15.30	55,565,000	$53.3m55.6m shares
MIDCAP FINANCIAL INVSTMNT CO MFIC	MFIC	545,532	$6.1m545.5k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
SAVERS VALUE VLG INC SVV · 13G · filed 2025-08-13	SVV	75.5%≈ $1.2bn		13G	2025-08-13
FERRELLGAS PARTNERS L LP FGPR · 13D · filed 2026-03-23	FGPR	13.8%	new	13D	2026-03-23
CLARITEV CORPORATION CTEV · 13G · filed 2025-02-07	CTEV	11.5%≈ $63.6m	+6.0 pts	13G	2025-02-07
SPIRIT AVIATION HLDGS INC FLYYQ · 13G · filed 2025-08-13	FLYYQ	7.5%	new	13G	2025-08-13

Trades reported as a company insider since 1 Apr 2026

Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.

Date	Company	Ticker	Trade	Shares	Value	Their holding
2026-08-13	SAVERS VALUE VLG INC 10% owner · See footnotes	SVV	Sold	23,000,000	$235.8m23.0m shares	-20%
2026-08-13	SAVERS VALUE VLG INC 10% owner · See footnotes	SVV	Sold	23,000,000	$235.8m23.0m shares	-20%