ARES CAPITAL CORP ARCC
COM · Common Stock · CUSIP 04010L103 · ISIN US04010L1035
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.6m this quarter). Holder counts are more reliable. Shares outstanding: 671.5m as of 2025-01-28, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $21.89. Options: 9 managers hold calls ($68.2m notional), 19 hold puts ($203.7m).
Trends to Q4 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 633 |
| Q4 2022 | 648 |
| Q1 2023 | 642 |
| Q2 2023 | 662 |
| Q3 2023 | 660 |
| Q4 2023 | 711 |
| Q1 2024 | 717 |
| Q2 2024 | 738 |
| Q3 2024 | 752 |
| Q4 2024 | 827 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 329 | 232 |
| Q2 2023 | 310 | 248 |
| Q3 2023 | 317 | 249 |
| Q4 2023 | 333 | 245 |
| Q1 2024 | 350 | 254 |
| Q2 2024 | 383 | 252 |
| Q3 2024 | 392 | 246 |
| Q4 2024 | 424 | 248 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $60.2m | $91.6m | 1.52 |
| Q2 2024 | $69.5m | $91.9m | 1.32 |
| Q3 2024 | $56.1m | $97.0m | 1.73 |
| Q4 2024 | $68.2m | $203.7m | 2.99 |
Biggest buyers
| VAN ECK ASSOCIATES CORP | Added | +1.5m |
| TWO SIGMA INVESTMENTS, LP | Added | +1.2m |
| MORGAN STANLEY | Added | +1.0m |
| BANK OF AMERICA CORP /DE/ | Added | +871.4k |
| TWO SIGMA ADVISERS, LP | Added | +852.8k |
| UBS Group AG | Added | +670.1k |
| Allen Investment Management, LLC | Added | +652.5k |
| CITADEL ADVISORS LLC | Added | +638.1k |
| BlackRock, Inc. | Added | +553.8k |
| CCLA Investment Management | Added | +531.3k |
Biggest sellers
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | Reduced | -3.4m |
| JPMORGAN CHASE & CO | Reduced | -2.5m |
| Invesco Ltd. | Reduced | -2.4m |
| State of Tennessee, Department of Treasury | Sold out | -798.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Sold out | -680.2k |
| AMERIPRISE FINANCIAL INC | Reduced | -629.5k |
| OMERS ADMINISTRATION Corp | Reduced | -561.3k |
| MARSHALL WACE, LLP | Sold out | -520.6k |
| ENVESTNET ASSET MANAGEMENT INC | Reduced | -483.2k |
| Schonfeld Strategic Advisors LLC | Sold out | -337.3k |
Biggest calls
| Twin Tree Management, LP | Added | $18.0m823.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $17.3m791.5k shares |
| CITADEL ADVISORS LLC | Reduced | $10.1m462.7k shares |
| Parallax Volatility Advisers, L.P. | Added | $9.2m420.5k shares |
| Walleye Trading LLC | Added | $4.8m219.9k shares |
| SIMPLEX TRADING, LLC | Added | $3.0m139.3k shares |
| JANE STREET GROUP, LLC | Reduced | $2.9m131.2k shares |
| GROUP ONE TRADING LLC | Reduced | $2.8m129.1k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Beach Point Capital Management LP | New | $48.2m2.2m shares |
| Parallax Volatility Advisers, L.P. | Added | $42.3m1.9m shares |
| UBS Group AG | Added | $20.7m945.8k shares |
| CITIGROUP INC | New | $19.7m900.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $18.7m852.2k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $18.4m842.3k shares |
| WELLS FARGO & COMPANY/MN | New | $12.9m591.0k shares |
| CITADEL ADVISORS LLC | Added | $8.5m390.1k shares |
| JANE STREET GROUP, LLC | Added | $3.4m154.3k shares |
| Squarepoint Ops LLC | New | $2.7m124.8k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Insider purchases and sales in Q4 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2023 | 1 | $104.8k | 0 | — | — |
| Q2 2023 | 1 | $267.6k | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| MORGAN STANLEY 0.02% of their portfolio | 14.8m $324.8m | Added +1.0m |
| VAN ECK ASSOCIATES CORP 0.40% of their portfolio | 14.1m $309.6m | Added +1.5m |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 8.0m $174.1m | Added +871.4k |
| Legal & General Group Plc 0.03% of their portfolio | 4.7m $101.9m | Reduced -244.6k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 4.3m $93.4m | Reduced -2.5m |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 4.1m $89.5m | Reduced -248.0k |
| FMR LLC 0.01% of their portfolio | 4.0m $87.7m | Added +330.6k |
| Generali Asset Management SPA SGR 2.16% of their portfolio | 3.9m $84.4m | First filing |
| CONFLUENCE INVESTMENT MANAGEMENT LLC 1.16% of their portfolio | 3.8m $83.5m | Reduced -23.4k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 3.7m $81.5m | Reduced -629.5k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 3.6m $78.0m | Added +214.3k |
| Advisors Capital Management, LLC 1.21% of their portfolio | 3.5m $77.1m | Added +105.5k |
| LPL Financial LLC 0.03% of their portfolio | 3.3m $71.7m | Reduced -328.5k |
| UBS Group AG 0.01% of their portfolio | 2.9m $62.4m | Added +670.1k |
| Allen Investment Management, LLC 0.69% of their portfolio | 2.7m $60.1m | Added +652.5k |
| TWO SIGMA INVESTMENTS, LP 0.13% of their portfolio | 2.7m $58.6m | Added +1.2m |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 2.7m $58.2m | First filing |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 2.5m $54.2m | Added +216.2k |
| BlackRock, Inc. 0.00% of their portfolio | 2.4m $53.4m | Added +553.8k |
| STIFEL FINANCIAL CORP 0.05% of their portfolio | 2.3m $51.1m | Added +146.3k |
| Sound Income Strategies, LLC 3.13% of their portfolio | 2.3m $50.7m | Added +97.0k |
| CCLA Investment Management 0.77% of their portfolio | 2.2m $48.4m | Added +531.3k |
| Progeny 3, Inc. 3.70% of their portfolio | 2.1m $46.5m | Added +45.5k |
| ARES MANAGEMENT LLC 1.46% of their portfolio | 1.9m $41.5m | Reduced -256.0k |
| Border to Coast Pensions Partnership Ltd 0.79% of their portfolio | 1.9m $40.5m | Unchanged |
| Rockefeller Capital Management L.P. 0.10% of their portfolio | 1.8m $39.0m | Added +165.8k |
| Partners Group Holding AG 1.25% of their portfolio | 1.6m $34.9m | Reduced -190.8k |
| Gilbert & Cook, Inc. 4.84% of their portfolio | 1.6m $34.3m | Added +52.7k |
| LSV ASSET MANAGEMENT 0.08% of their portfolio | 1.5m $33.1m | Reduced -124.3k |
| NOMURA ASSET MANAGEMENT CO LTD 0.10% of their portfolio | 1.5m $33.1m | Reduced -20.8k |
| CAPITAL ADVISORS INC/OK 0.65% of their portfolio | 1.5m $32.4m | Added +41.0k |
| HighTower Advisors, LLC 0.04% of their portfolio | 1.4m $30.7m | Added +458.4k |
| Clearbridge Investments, LLC 0.02% of their portfolio | 1.4m $30.6m | Added +133.2k |
| Balyasny Asset Management L.P. 0.07% of their portfolio | 1.4m $30.3m | Added +143.8k |
| BRUNI J V & CO /CO 3.38% of their portfolio | 1.4m $29.8m | Reduced -16.5k |
| OMERS ADMINISTRATION Corp 0.26% of their portfolio | 1.4m $29.7m | Reduced -561.3k |
| TWO SIGMA ADVISERS, LP 0.07% of their portfolio | 1.3m $28.5m | Added +852.8k |
| HRT FINANCIAL LP 0.17% of their portfolio | 1.3m $28.1m | Added +402.3k |
| OSAIC HOLDINGS, INC. 0.06% of their portfolio | 1.3m $27.8m | Reduced -482 |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 1.1m $25.1m | Reduced -483.2k |
| STEPHENS INC /AR/ 0.35% of their portfolio | 1.1m $25.0m | Added +31.4k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio | 1.1m $24.9m | Added +112.1k |
| McGowan Group Asset Management, Inc. 3.06% of their portfolio | 1.0m $22.8m | Added +3.9k |
| Cetera Investment Advisers 0.05% of their portfolio | 1.0m $22.7m | Added +147.8k |
| Evercore Wealth Management, LLC 0.34% of their portfolio | 1.0m $22.6m | Reduced -1.4k |
| Cambridge Investment Research Advisors, Inc. 0.07% of their portfolio | 1.0m $22.1m | Added +42.4k |
| SAGE ADVISORS, LLC 15.77% of their portfolio | 964.7k $21.1m | Added +54.1k |
| Muzinich & Co., Inc. 14.87% of their portfolio | 961.8k $21.1m | Added +63.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 940.7k $20.6m | Reduced -79.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 938.6k $20.5m | Added +53.2k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 934.6k $20.5m | Added +638.1k |
| Baird Financial Group, Inc. 0.04% of their portfolio | 897.0k $19.6m | Added +103.7k |
| D.A. DAVIDSON & CO. 0.15% of their portfolio | 851.5k $18.6m | Reduced -2.0k |
| Janney Montgomery Scott LLC 0.05% of their portfolio | 805.2k $17.6m | Added +43.4k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 799.5k $17.5m | Added +74.3k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 795.1k $17.4m | Added +145.0k |
| Melia Wealth LLC 8.54% of their portfolio | 747.0k $16.4m | Added +17.8k |
| Edgemoor Investment Advisors, Inc. 1.40% of their portfolio | 727.9k $15.9m | Reduced -2.6k |
| TCW GROUP INC 0.13% of their portfolio | 715.0k $15.7m | Unchanged |
| 1832 Asset Management L.P. 0.03% of their portfolio | 714.8k $15.6m | Reduced -250.8k |
| SIGMA INVESTMENT COUNSELORS INC 0.91% of their portfolio | 708.9k $15.5m | Added +27.2k |
| Northeast Financial Consultants Inc 0.65% of their portfolio | 701.5k $15.4m | Added +88.2k |
| Steward Partners Investment Advisory, LLC 0.13% of their portfolio | 686.3k $15.0m | Added +269.7k |
| Naviter Wealth, LLC 1.78% of their portfolio | 674.7k $14.8m | Reduced -126.8k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 649.7k $14.2m | Added +84.8k |
| DENALI ADVISORS LLC 1.37% of their portfolio | 595.0k $13.0m | Reduced -28.5k |
| BAILLIE GIFFORD & CO 0.01% of their portfolio | 589.6k $12.9m | Added +247.2k |
| Clearstead Advisors, LLC 0.19% of their portfolio | 583.6k $12.8m | Added +52.8k |
| Corient Private Wealth LP 0.02% of their portfolio | 566.5k $11.5m | Reduced -29.0k |
| PALISADE CAPITAL MANAGEMENT, LP 0.33% of their portfolio | 566.0k $12.4m | Added +30.6k |
| NEW SOUTH CAPITAL MANAGEMENT INC 0.48% of their portfolio | 517.1k $11.3m | Reduced -30.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 507.8k $11.1m | Added +329.6k |
| Chicago Partners Investment Group LLC 0.37% of their portfolio | 507.4k $11.2m | Added +25.3k |
| LGT CAPITAL PARTNERS LTD. 0.42% of their portfolio | 507.0k $11.1m | Reduced -178.6k |
| Edge Capital Group, LLC 0.49% of their portfolio | 502.5k $11.0m | Unchanged |
| CREDIT AGRICOLE S A 0.04% of their portfolio | 495.9k $10.9m | Reduced -71.8k |
| Bell Bank 0.79% of their portfolio | 484.1k $10.6m | Added +56.3k |
| Enstar Group LTD 3.57% of their portfolio | 468.9k $10.3m | New |
| GRITSTONE ASSET MANAGEMENT LLC 10.35% of their portfolio | 446.5k $9.8m | First filing |
| Baltimore-Washington Financial Advisors, Inc. 0.50% of their portfolio | 446.3k $9.8m | Added +18.1k |
| Merit Financial Group, LLC 0.17% of their portfolio | 444.2k $9.7m | Added +565 |
| SFMG, LLC 0.77% of their portfolio | 444.1k $9.7m | Added +4.6k |
| CIBC Private Wealth Group LLC 0.02% of their portfolio | 443.7k $9.8m | Added +3.7k |
| Graypoint LLC 0.58% of their portfolio | 440.3k $9.6m | Unchanged |
| Boston Partners 0.01% of their portfolio | 437.2k $9.6m | Added +71.4k |
| TECTONIC ADVISORS LLC 0.62% of their portfolio | 435.2k $9.5m | Added +52.2k |
| NorthCoast Asset Management LLC 0.05% of their portfolio | 432.0k $9.5m | Added +244.9k |
| Columbus Macro, LLC 1.23% of their portfolio | 405.2k $8.9m | New |
| Invesco Ltd. 0.00% of their portfolio | 404.8k $8.9m | Reduced -2.4m |
| Cerity Partners LLC 0.02% of their portfolio | 404.5k $8.8m | Added +32.6k |
| Advisors Asset Management, Inc. 0.16% of their portfolio | 397.0k $8.7m | Added +43.3k |
| one8zero8, LLC 1.82% of their portfolio | 385.1k $8.4m | First filing |
| VISTA FINANCE, LLC 8.64% of their portfolio | 384.3k $8.4m | New |
| LGT Group Foundation 0.13% of their portfolio | 383.6k $8.4m | New |
| OPPENHEIMER & CO INC 0.12% of their portfolio | 382.2k $8.4m | Added +50.9k |
| EVERGREEN CAPITAL MANAGEMENT LLC 0.27% of their portfolio | 376.6k $8.2m | Reduced -13.0k |
| MGO ONE SEVEN LLC 0.31% of their portfolio | 366.3k $8.0m | Reduced -26.4k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 365.4k $8.0m | Reduced -24.6k |
| M&G PLC 0.05% of their portfolio | 365.0k $8.0m | New |
| ROMANO BROTHERS AND COMPANY 0.98% of their portfolio | 354.2k $7.8m | Added +35.7k |