Vault-13

ARES CAPITAL CORP ARCC 4.625 03.01.24

NOTE 4.625% 3/0 · US DOMESTIC · CUSIP 04010LAW3

66 institutional holders +1 vs Q3 2022
33,166,75133.2m shares reported held*
$394.9mreported value*
5 new 12 added 10 reduced 7 sold out net bought ≈ $6.9m (+384.8k shares)

* 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. Holder counts are more reliable. Implied quarter-end price ≈ $11.91.

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 65Q4 22: 6666Q3 22Q4 22
Numbers
QuarterHolders
Q3 202265
Q4 202266

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100k$200k$300k$400kQ3 22 calls: $0Q3 22 puts: $339.3kQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$339.3k—
Q4 2022$0$0—

Biggest buyers

VICTORY CAPITAL MANAGEMENT INC Added +9,293,000+9.3m
BANK OF AMERICA CORP /DE/ Added +3,547,000+3.5m
AEGON USA Investment Management, LLC Added +1,070,000+1.1m
CITIGROUP INC Added +890,000+890.0k
ZAZOVE ASSOCIATES LLC Added +735,000+735.0k
TRUIST FINANCIAL CORP New +536,000+536.0k
SSI INVESTMENT MANAGEMENT LLC Added +300,000+300.0k
STATE STREET CORP Added +200,000+200.0k
BlackRock Inc. Added +197,000+197.0k
STIFEL FINANCIAL CORP Added +84,745+84.7k

Biggest sellers

ADVENT CAPITAL MANAGEMENT /DE/ Reduced -3,500,000-3.5m
PIER 88 INVESTMENT PARTNERS LLC Reduced -2,410,000-2.4m
CREDIT SUISSE AG/ Reduced -2,000,000-2.0m
JPMORGAN CHASE & CO Reduced -1,223,000-1.2m
Compagnie Lombard Odier SCmA Sold out -725,000-725.0k
ROYAL BANK OF CANADA Reduced -189,000-189.0k
Lombard Odier Asset Management (Europe) Ltd Reduced -176,000-176.0k
BNP PARIBAS FINANCIAL MARKETS Reduced -125,000-125.0k
Russell Investments Group, Ltd. Reduced -84,000-84.0k
BNP PARIBAS FINANCIAL MARKETS Sold out -74,160-74.2k

Holders, Q4 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VICTORY CAPITAL MANAGEMENT INC 0.13% of their portfolio San Antonio, TX 108,481,000108.5m $114.9m $114.9m 0.13% Added +9.3m +9,293,000
2 ADVENT CAPITAL MANAGEMENT /DE/ 0.51% of their portfolio NEW YORK, NY 26,939,00026.9m $28.7m $28.7m 0.51% Reduced -3.5m -3,500,000
3 MacKay Shields LLC 0.63% of their portfolio New York, NY 23,305,00023.3m $24.8m $24.8m 0.63% Unchanged
4 INCOME RESEARCH & MANAGEMENT 10.01% of their portfolio Boston, MA 20,000,00020.0m $21.2m $21.2m 10.01% Unchanged
5 Lombard Odier Asset Management (Europe) Ltd 1.11% of their portfolio LONDON, X0 18,169,00018.2m $25.9m $25.9m 1.11% Reduced -176.0k -176,000
6 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 16,110,00016.1m $17.1m $17.1m 0.00% Unchanged
7 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 13,070,00013.1m $13.9m $13.9m 0.00% Added +3.5m +3,547,000
8 PIER 88 INVESTMENT PARTNERS LLC 3.32% of their portfolio SAN FRANCISCO, CA 12,895,00012.9m $13.7m $13.7m 3.32% Reduced -2.4m -2,410,000
9 SSI INVESTMENT MANAGEMENT LLC 0.80% of their portfolio Los Angeles, CA 11,899,00011.9m $12.6m $12.6m 0.80% Added +300.0k +300,000
10 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 11,600,00011.6m $12.3m $12.3m 0.00% Unchanged
11 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 11,489,00011.5m $12.2m $12.2m 0.00% Reduced -1.2m -1,223,000
12 RWC Asset Management LLP 0.33% of their portfolio LONDON, X0 10,000,00010.0m $10.6m $10.6m 0.33% Unchanged
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 9,578,0009.6m $10.3m $10.3m 0.00% Added +200.0k +200,000
14 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 8,810,0008.8m $8.8m $8.8m 0.01% Reduced -2.0m -2,000,000
15 CONNING INC. 0.26% of their portfolio HARTFORD, CT 7,510,0007.5m $7.9m $7.9m 0.26% Unchanged
16 ZAZOVE ASSOCIATES LLC 0.64% of their portfolio INCLINE VILLAGE, NV 6,521,0006.5m $6.9m $6.9m 0.64% Added +735.0k +735,000
17 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 6,295,0006.3m $6.7m $6.7m 0.02% Unchanged
18 SHENKMAN CAPITAL MANAGEMENT INC 0.41% of their portfolio NEW YORK, NY 6,137,0006.1m $6.6m $6.6m 0.41% Unchanged
19 Calamos Advisors LLC 0.03% of their portfolio NAPERVILLE, IL 6,107,0006.1m $6.5m $6.5m 0.03% Reduced -6.0k -6,000
20 Ameritas Investment Partners, Inc. 0.22% of their portfolio LINCOLN, NE 5,161,0005.2m $5.5m $5.5m 0.22% Unchanged
21 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 4,500,0004.5m $4.8m $4.8m 0.01% Unchanged
22 BlackRock Inc. 0.00% of their portfolio New York, NY 3,885,0003.9m $4.1m $4.1m 0.00% Added +197.0k +197,000
23 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 3,408,0003.4m $3.6m $3.6m 0.01% Reduced -125.0k -125,000
24 AEGON USA Investment Management, LLC 0.68% of their portfolio CEDAR RAPIDS, IA 2,140,0002.1m $2.3m $2.3m 0.68% Added +1.1m +1,070,000
25 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.34% of their portfolio Miamisburg, OH 2,000,0002.0m $2.1m $2.1m 0.34% Unchanged
26 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 1,302,0001.3m $1.4m $1.4m 0.00% Reduced -84.0k -84,000
27 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 973,000973.0k $1.0m $1.0m 0.00% Added +890.0k +890,000
28 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 913,000913.0k $963.9k $963.9k 0.00% Added +23.0k +23,000
29 FIRST HAWAIIAN BANK 0.02% of their portfolio HONOLULU, HI 638,000638.0k $677.0k $677.0k 0.02% Unchanged
30 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 536,000536.0k $568.5k $568.5k 0.00% New
31 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 500,000500.0k $524.6k $524.6k 0.00% Unchanged
32 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 400,000400.0k $419.7k $419.7k 0.00% Unchanged
33 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 400,000400.0k $425.1k $425.1k 0.00% Unchanged
34 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 235,000235.0k $249.2k $249.2k 0.00% Unchanged
35 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 217,427217.4k $217.4k $217.4k 0.00% Added +84.7k +84,745
36 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 142,000142.0k $151.0k $151.0k 0.00% Reduced -189.0k -189,000
37 REGIONS FINANCIAL CORP 0.00% of their portfolio BIRMINGHAM, AL 123,000123.0k $130.0k $130.0k 0.00% Unchanged
38 River Wealth Advisors LLC 0.02% of their portfolio CAMP HILL, PA 120,000120.0k $127.7k $127.7k 0.02% Unchanged
39 Endurance Wealth Management, Inc. 0.01% of their portfolio Providence, RI 90,00090.0k $95.0k $95.0k 0.01% Unchanged
40 Integrated Advisors Network LLC 0.01% of their portfolio DALLAS, TX 85,00085.0k $90.5k $90.5k 0.01% Unchanged
41 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 80,00080.0k $84.0k $84.0k 0.00% Unchanged
42 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 70,00070.0k $74.2k $74.2k 0.00% Added +30.0k +30,000
43 Wealthstar Advisors, LLC 0.03% of their portfolio Plano, TX 60,00060.0k $63.6k $63.6k 0.03% Unchanged
44 DUDLEY CAPITAL MANAGEMENT, LLC 0.04% of their portfolio Middleburg, VA 48,00048.0k $50.9k $50.9k 0.04% First filing
45 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 45,00045.0k $47.2k $47.2k 0.00% Added +25.0k +25,000
46 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 40,00040.0k $42.5k $42.5k 0.00% Unchanged
47 Northside Capital Management, LLC 0.01% of their portfolio Hood River, OR 35,00035.0k $36.7k $36.7k 0.01% New
48 HOHIMER WEALTH MANAGEMENT, LLC 0.01% of their portfolio SEATTLE, WA 30,00030.0k $31.8k $31.8k 0.01% Unchanged
49 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 25,00025.0k $26.5k $26.5k 0.00% Unchanged
50 Realta Investment Advisors 0.01% of their portfolio WILMINGTON, DE 25,00025.0k $26.5k $26.5k 0.01% New
51 Goldstein Advisors, LLC 0.01% of their portfolio Madison, WI 25,00025.0k $27.0k $27.0k 0.01% First filing
52 PFG Private Wealth Management, LLC 0.01% of their portfolio LUTZ, FL 20,00020.0k $21.0k $21.0k 0.01% Unchanged
53 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 16,00016.0k $16.8k $16.8k 0.00% Unchanged
54 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 15,00015.0k $15.9k $15.9k 0.00% Unchanged
55 EXCALIBUR MANAGEMENT CORP 0.01% of their portfolio WALTHAM, MA 15,00015.0k $15.9k $15.9k 0.01% New
56 GRIMES & Co WEALTH MANAGEMENT, LLC 0.00% of their portfolio WESTBOROUGH, MA 15,00015.0k $15.9k $15.9k 0.00% New
57 Johnson Midwest Financial, LLC 0.06% of their portfolio GLIDDEN, IA 15,00015.0k $16.0k $16.0k 0.06% Unchanged
58 Ayrshire Capital Management LLC 0.01% of their portfolio WESTPORT, CT 15,00015.0k $15.7k $15.7k 0.01% Unchanged
59 Strait & Sound Wealth Management LLC 0.02% of their portfolio SAN FRANCISCO, CA 15,00015.0k $16.1k $16.1k 0.02% First filing
60 Mayflower Financial Advisors, LLC 0.00% of their portfolio BOSTON, MA 12,00012.0k $12.7k $12.7k 0.00% Unchanged
61 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 10,00010.0k $10.6k $10.6k 0.00% Unchanged
62 BBJS FINANCIAL ADVISORS, LLC 0.00% of their portfolio SEATTLE, WA 7,0007.0k $7.5k $7.5k 0.00% First filing
63 LAFFER TENGLER INVESTMENTS, INC. 0.86% of their portfolio Scottsdale, AZ 2,7512.8k $3.0m $3.0m 0.86% Reduced -83 -83
64 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 2,0002.0k $212.1k $212.1k 0.00% Unchanged
65 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 1,0001.0k $1.1k $1.1k 0.00% Unchanged
66 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged