Vault-13

ARES CAPITAL CORP ARCC 4.625 03.01.24

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

76 institutional holders -2 vs Q2 2023
39,999,18840.0m shares reported held*
$380.7mreported value*
7 new 16 added 12 reduced 9 sold out net bought ≈ $36.9k (+2.3m 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 ≈ $9.52.

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 65Q4 22: 66Q1 23: 71Q2 23: 78Q3 23: 7676Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 202265
Q4 202266
Q1 202371
Q2 202378
Q3 202376

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 22: 17 bought or addedQ4 22: 17 cut or sold outQ4 22Q1 23: 18 bought or addedQ1 23: 14 cut or sold outQ1 23Q2 23: 22 bought or addedQ2 23: 21 cut or sold outQ2 23Q3 23: 23 bought or addedQ3 23: 21 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221717
Q1 20231814
Q2 20232221
Q3 20232321

Biggest buyers

ZAZOVE ASSOCIATES LLC Added +7,530,000+7.5m
Walleye Capital LLC Added +4,500,000+4.5m
MIZUHO SECURITIES USA LLC New +3,755,000+3.8m
WELLS FARGO & COMPANY/MN Added +1,600,000+1.6m
Thrivent Financial for Lutherans Added +1,500,000+1.5m
STATE STREET CORP Added +1,100,000+1.1m
RATIONAL ADVISORS, INC. Added +1,000,000+1.0m
PIER 88 INVESTMENT PARTNERS LLC Added +1,000,000+1.0m
BNP PARIBAS FINANCIAL MARKETS New +1,000,000+1.0m
TRUIST FINANCIAL CORP Added +713,000+713.0k

Biggest sellers

ADVENT CAPITAL MANAGEMENT /DE/ Reduced -9,600,000-9.6m
VICTORY CAPITAL MANAGEMENT INC Reduced -3,536,000-3.5m
SHENKMAN CAPITAL MANAGEMENT INC Reduced -3,000,000-3.0m
COMERICA BANK Sold out -2,660,000-2.7m
MacKay Shields LLC Reduced -2,560,000-2.6m
INCOME RESEARCH & MANAGEMENT Reduced -2,300,000-2.3m
SSI INVESTMENT MANAGEMENT LLC Reduced -675,000-675.0k
GOLDMAN SACHS GROUP INC Reduced -330,000-330.0k
BARCLAYS PLC Reduced -301,000-301.0k
Jefferies Financial Group Inc. Sold out -275,000-275.0k

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VICTORY CAPITAL MANAGEMENT INC 0.11% of their portfolio San Antonio, TX 97,651,00097.7m $99.0m $99.0m 0.11% Reduced -3.5m -3,536,000
2 ZAZOVE ASSOCIATES LLC 3.14% of their portfolio INCLINE VILLAGE, NV 29,743,00029.7m $30.2m $30.2m 3.14% Added +7.5m +7,530,000
3 Lombard Odier Asset Management (Europe) Ltd 1.29% of their portfolio LONDON, X0 24,193,00024.2m $24.7m $24.7m 1.29% Unchanged
4 INCOME RESEARCH & MANAGEMENT 13.45% of their portfolio Boston, MA 16,950,00016.9m $17.2m $17.2m 13.45% Reduced -2.3m -2,300,000
5 PIER 88 INVESTMENT PARTNERS LLC 3.65% of their portfolio SAN FRANCISCO, CA 14,425,00014.4m $14.6m $14.6m 3.65% Added +1.0m +1,000,000
6 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 13,680,00013.7m $13.9m $13.9m 0.00% Reduced -330.0k -330,000
7 MacKay Shields LLC 0.37% of their portfolio New York, NY 12,870,00012.9m $13.3m $13.3m 0.37% Reduced -2.6m -2,560,000
8 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 12,522,00012.5m $12.7m $12.7m 0.00% Added +225.0k +225,000
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 12,035,00012.0m $12.3m $12.3m 0.00% Added +32.0k +32,000
10 Walleye Capital LLC 0.18% of their portfolio NEW YORK, NY 11,900,00011.9m $12.1m $12.1m 0.18% Added +4.5m +4,500,000
11 SSI INVESTMENT MANAGEMENT LLC 0.91% of their portfolio Los Angeles, CA 10,987,00011.0m $11.1m $11.1m 0.91% Reduced -675.0k -675,000
12 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 9,600,0009.6m $9.7m $9.7m 0.00% Unchanged
13 Parallax Volatility Advisers, L.P. 0.34% of their portfolio San Francisco, CA 9,500,0009.5m $9.6m $9.6m 0.34% Unchanged
14 ADVENT CAPITAL MANAGEMENT /DE/ 0.23% of their portfolio NEW YORK, NY 9,463,0009.5m $9.6m $9.6m 0.23% Reduced -9.6m -9,600,000
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 9,178,0009.2m $9.4m $9.4m 0.00% Added +1.1m +1,100,000
16 CONNING INC. 0.28% of their portfolio HARTFORD, CT 7,510,0007.5m $7.7m $7.7m 0.28% Unchanged
17 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7,160,0007.2m $7.3m $7.3m 0.00% Added +248.0k +248,000
18 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 6,995,0007.0m $7.1m $7.1m 0.02% Added +1.5m +1,500,000
19 Calamos Advisors LLC 0.03% of their portfolio NAPERVILLE, IL 6,191,0006.2m $6.3m $6.3m 0.03% Added +37.0k +37,000
20 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 5,810,0005.8m $6.1m $6.1m 0.01% Unchanged
21 Ameritas Investment Partners, Inc. 0.21% of their portfolio LINCOLN, NE 5,161,0005.2m $5.2m $5.2m 0.21% Unchanged
22 RATIONAL ADVISORS, INC. 0.43% of their portfolio San Juan, PR 4,700,0004.7m $4.8m $4.8m 0.43% Added +1.0m +1,000,000
23 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 4,000,0004.0m $4.1m $4.1m 0.01% Unchanged
24 MIZUHO SECURITIES USA LLC 0.11% of their portfolio NEW YORK, NY 3,755,0003.8m $3.8m $3.8m 0.11% New
25 SHENKMAN CAPITAL MANAGEMENT INC 0.24% of their portfolio NEW YORK, NY 3,137,0003.1m $3.2m $3.2m 0.24% Reduced -3.0m -3,000,000
26 BlackRock Inc. 0.00% of their portfolio New York, NY 2,685,0002.7m $2.7m $2.7m 0.00% Added +400.0k +400,000
27 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,185,0002.2m $2.2m $2.2m 0.00% Added +1.6m +1,600,000
28 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.30% of their portfolio Miamisburg, OH 2,000,0002.0m $2.0m $2.0m 0.30% Unchanged
29 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 1,383,0001.4m $1.4m $1.4m 0.00% Reduced -228.0k -228,000
30 AEGON USA Investment Management, LLC 0.78% of their portfolio CEDAR RAPIDS, IA 1,070,0001.1m $1.1m $1.1m 0.78% Unchanged
31 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 1,000,0001.0m $1.0m $1.0m 0.00% New
32 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 866,000866.0k $878.5k $878.5k 0.00% Added +713.0k +713,000
33 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 630,000630.0k $639.1k $639.1k 0.00% Added +530.0k +530,000
34 FIRST HAWAIIAN BANK 0.02% of their portfolio HONOLULU, HI 616,000616.0k $624.9k $624.9k 0.02% Unchanged
35 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 586,000586.0k $599.9k $599.9k 0.00% New
36 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 500,000500.0k $512.7k $512.7k 0.00% Unchanged
37 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 500,000500.0k $509.8k $509.8k 0.00% Unchanged
38 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 400,000400.0k $410.1k $410.1k 0.00% Unchanged
39 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 400,000400.0k $408.4k $408.4k 0.00% Unchanged
40 Cutler Capital Management, LLC 0.14% of their portfolio WORCESTER, MA 315,000315.0k $319.5k $319.5k 0.14% Unchanged
41 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 289,103289.1k $289.1k $289.1k 0.00% Added +15.0k +14,962
42 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 225,000225.0k $229.7k $229.7k 0.00% Reduced -301.0k -301,000
43 REGIONS FINANCIAL CORP 0.00% of their portfolio BIRMINGHAM, AL 123,000123.0k $124.8k $124.8k 0.00% Unchanged
44 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 111,000111.0k $113.0k $113.0k 0.00% Unchanged
45 Crestwood Advisors Group, LLC 0.00% of their portfolio BOSTON, MA 90,00090.0k $91.3k $91.3k 0.00% New
46 Integrated Advisors Network LLC 0.01% of their portfolio DALLAS, TX 85,00085.0k $87.5k $87.5k 0.01% Unchanged
47 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 80,00080.0k $81.0k $81.0k 0.00% Unchanged
48 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 70,00070.0k $71.0k $71.0k 0.00% Unchanged
49 River Wealth Advisors LLC 0.01% of their portfolio CAMP HILL, PA 70,00070.0k $72.0k $72.0k 0.01% Reduced -25.0k -25,000
50 DUDLEY CAPITAL MANAGEMENT, LLC 0.03% of their portfolio Middleburg, VA 48,00048.0k $48.7k $48.7k 0.03% Unchanged
51 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 45,00045.0k $46.1k $46.1k 0.00% Unchanged
52 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 40,00040.0k $41.0k $41.0k 0.00% Reduced -20.0k -20,000
53 Northside Capital Management, LLC 0.01% of their portfolio Hood River, OR 40,00040.0k $41.0k $41.0k 0.01% Unchanged
54 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 37,00037.0k $37.0k $37.0k 0.00% First filing
55 Goldstein Advisors, LLC 0.01% of their portfolio Madison, WI 34,00034.0k $34.9k $34.9k 0.01% Unchanged
56 EXCALIBUR MANAGEMENT CORP 0.01% of their portfolio WALTHAM, MA 25,00025.0k $25.6k $25.6k 0.01% Unchanged
57 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 25,00025.0k $25.4k $25.4k 0.00% Unchanged
58 Hudock, Inc. 0.01% of their portfolio Williamsport, PA 25,00025.0k $25.4k $25.4k 0.01% New
59 Realta Investment Advisors 0.01% of their portfolio WILMINGTON, DE 25,00025.0k $24.9k $24.9k 0.01% New
60 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 21,00021.0k $21.5k $21.5k 0.00% Added +5.0k +5,000
61 FLPUTNAM INVESTMENT MANAGEMENT CO 0.00% of their portfolio PORTLAND, ME 20,00020.0k $20.3k $20.3k 0.00% Unchanged
62 PFG Private Wealth Management, LLC 0.02% of their portfolio LUTZ, FL 20,00020.0k $20.5k $20.5k 0.02% Unchanged
63 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 16,00016.0k $16.2k $16.2k 0.00% Unchanged
64 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 15,00015.0k $15.2k $15.2k 0.00% Unchanged
65 GRIMES & Co WEALTH MANAGEMENT, LLC 0.00% of their portfolio WESTBOROUGH, MA 15,00015.0k $15.4k $15.4k 0.00% Unchanged
66 Johnson Midwest Financial, LLC 0.03% of their portfolio GLIDDEN, IA 15,00015.0k $15.4k $15.4k 0.03% Unchanged
67 Ayrshire Capital Management LLC 0.01% of their portfolio WESTPORT, CT 15,00015.0k $15.4k $15.4k 0.01% Unchanged
68 Strait & Sound Wealth Management LLC 0.01% of their portfolio SAN FRANCISCO, CA 15,00015.0k $15.2k $15.2k 0.01% Unchanged
69 Sightline Wealth Advisors, LLC 0.01% of their portfolio GROTON, CT 12,00012.0k $12.3k $12.3k 0.01% Unchanged
70 Mayflower Financial Advisors, LLC 0.00% of their portfolio BOSTON, MA 12,00012.0k $12.2k $12.2k 0.00% Unchanged
71 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 10,00010.0k $10.1k $10.1k 0.00% Unchanged
72 BBJS FINANCIAL ADVISORS, LLC 0.00% of their portfolio SEATTLE, WA 7,0007.0k $7.1k $7.1k 0.00% Unchanged
73 OFI INVEST ASSET MANAGEMENT 0.16% of their portfolio ISSY LES MOULINEAUX, I0 4,4004.4k $4.5m $4.5m 0.16% New
74 LAFFER TENGLER INVESTMENTS, INC. 1.14% of their portfolio Scottsdale, AZ 3,7883.8k $3.9m $3.9m 1.14% Reduced -157 -157
75 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 1,0001.0k $1.0k $1.0k 0.00% Unchanged
76 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged