Vault-13

ARES CAPITAL CORP ARCC 4.625 03.01.24

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

73 institutional holders -3 vs Q3 2023
33,328,85933.3m shares reported held*
$402.3mreported value*
9 new 11 added 15 reduced 12 sold out net bought ≈ $12.1m (-6.7m 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 ≈ $12.07.

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 65Q4 22: 66Q1 23: 71Q2 23: 78Q3 23: 76Q4 23: 7373Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 202265
Q4 202266
Q1 202371
Q2 202378
Q3 202376
Q4 202373

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 23Q4 23: 20 bought or addedQ4 23: 27 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221717
Q1 20231814
Q2 20232221
Q3 20232321
Q4 20232027

Biggest buyers

Weiss Asset Management LP New +38,366,000+38.4m
Walleye Capital LLC Added +21,005,000+21.0m
CSS LLC/IL New +12,141,000+12.1m
MORGAN STANLEY Added +8,638,000+8.6m
WELLS FARGO & COMPANY/MN Added +7,862,000+7.9m
JPMORGAN CHASE & CO Added +7,103,000+7.1m
GOLDMAN SACHS GROUP INC New +7,020,000+7.0m
ZAZOVE ASSOCIATES LLC Added +4,213,000+4.2m
BNP PARIBAS FINANCIAL MARKETS Added +3,819,000+3.8m
MACQUARIE GROUP LTD New +2,500,000+2.5m

Biggest sellers

Lombard Odier Asset Management (Europe) Ltd Sold out -24,193,000-24.2m
VICTORY CAPITAL MANAGEMENT INC Reduced -17,696,000-17.7m
PIER 88 INVESTMENT PARTNERS LLC Sold out -14,425,000-14.4m
GOLDMAN SACHS GROUP INC Sold out -13,680,000-13.7m
Invesco Ltd. Sold out -9,600,000-9.6m
RATIONAL ADVISORS, INC. Sold out -4,700,000-4.7m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Sold out -4,000,000-4.0m
MIZUHO SECURITIES USA LLC Sold out -3,755,000-3.8m
INCOME RESEARCH & MANAGEMENT Reduced -3,700,000-3.7m
CONNING INC. Reduced -1,840,000-1.8m

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VICTORY CAPITAL MANAGEMENT INC 0.09% of their portfolio San Antonio, TX 79,955,00080.0m $82.6m $82.6m 0.09% Reduced -17.7m -17,696,000
2 Weiss Asset Management LP 2.84% of their portfolio BOSTON, MA 38,366,00038.4m $39.8m $39.8m 2.84% New
3 ZAZOVE ASSOCIATES LLC 4.38% of their portfolio INCLINE VILLAGE, NV 33,956,00034.0m $35.2m $35.2m 4.38% Added +4.2m +4,213,000
4 Walleye Capital LLC 0.48% of their portfolio NEW YORK, NY 32,905,00032.9m $34.0m $34.0m 0.48% Added +21.0m +21,005,000
5 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 19,138,00019.1m $19.8m $19.8m 0.00% Added +7.1m +7,103,000
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 15,798,00015.8m $16.2m $16.2m 0.00% Added +8.6m +8,638,000
7 INCOME RESEARCH & MANAGEMENT 9.46% of their portfolio Boston, MA 13,250,00013.2m $13.6m $13.6m 9.46% Reduced -3.7m -3,700,000
8 CSS LLC/IL 0.98% of their portfolio CHICAGO, IL 12,141,00012.1m $12.6m $12.6m 0.98% New
9 MacKay Shields LLC 0.36% of their portfolio New York, NY 11,870,00011.9m $12.3m $12.3m 0.36% Reduced -1.0m -1,000,000
10 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 11,513,00011.5m $11.9m $11.9m 0.00% Reduced -1.0m -1,009,000
11 SSI INVESTMENT MANAGEMENT LLC 0.86% of their portfolio Los Angeles, CA 11,037,00011.0m $11.4m $11.4m 0.86% Added +50.0k +50,000
12 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 10,047,00010.0m $10.4m $10.4m 0.00% Added +7.9m +7,862,000
13 Parallax Volatility Advisers, L.P. 0.27% of their portfolio San Francisco, CA 9,500,0009.5m $9.8m $9.8m 0.27% Unchanged
14 ADVENT CAPITAL MANAGEMENT /DE/ 0.23% of their portfolio NEW YORK, NY 9,463,0009.5m $9.8m $9.8m 0.23% Unchanged
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 8,478,0008.5m $8.9m $8.9m 0.00% Reduced -700.0k -700,000
16 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 7,020,0007.0m $7.2m $7.2m 0.00% New
17 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 6,290,0006.3m $6.5m $6.5m 0.01% Reduced -705.0k -705,000
18 Calamos Advisors LLC 0.03% of their portfolio NAPERVILLE, IL 6,087,0006.1m $6.3m $6.3m 0.03% Reduced -104.0k -104,000
19 CONNING INC. 0.20% of their portfolio HARTFORD, CT 5,670,0005.7m $5.9m $5.9m 0.20% Reduced -1.8m -1,840,000
20 Ameritas Investment Partners, Inc. 0.19% of their portfolio LINCOLN, NE 5,161,0005.2m $5.3m $5.3m 0.19% Unchanged
21 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 4,819,0004.8m $5.0m $5.0m 0.01% Added +3.8m +3,819,000
22 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 4,000,0004.0m $4.2m $4.2m 0.00% Reduced -1.8m -1,810,000
23 SHENKMAN CAPITAL MANAGEMENT INC 0.24% of their portfolio NEW YORK, NY 3,137,0003.1m $3.3m $3.3m 0.24% Unchanged
24 BlackRock Inc. 0.00% of their portfolio New York, NY 2,860,0002.9m $2.9m $2.9m 0.00% Added +175.0k +175,000
25 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 2,500,0002.5m $2.6m $2.6m 0.00% New
26 Warberg Asset Management LLC 0.67% of their portfolio WINNETKA, IL 2,149,0002.1m $2.2m $2.2m 0.67% New
27 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.27% of their portfolio Miamisburg, OH 2,000,0002.0m $2.1m $2.1m 0.27% Unchanged
28 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,512,0001.5m $1.6m $1.6m 0.00% Added +882.0k +882,000
29 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 1,383,0001.4m $1.5m $1.5m 0.00% Unchanged
30 AEGON USA Investment Management, LLC 0.79% of their portfolio CEDAR RAPIDS, IA 1,070,0001.1m $1.1m $1.1m 0.79% Unchanged
31 FIRST HAWAIIAN BANK 0.02% of their portfolio HONOLULU, HI 616,000616.0k $634.1k $634.1k 0.02% Unchanged
32 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 500,000500.0k $514.7k $514.7k 0.00% Unchanged
33 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 411,000411.0k $428.7k $428.7k 0.00% Reduced -175.0k -175,000
34 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 400,000400.0k $414.1k $414.1k 0.00% Unchanged
35 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 400,000400.0k $414.4k $414.4k 0.00% Unchanged
36 Cutler Capital Management, LLC 0.13% of their portfolio WORCESTER, MA 295,000295.0k $303.7k $303.7k 0.13% Reduced -20.0k -20,000
37 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 283,084283.1k $283.1k $283.1k 0.00% Reduced -6.0k -6,019
38 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 223,000223.0k $231.0k $231.0k 0.00% Reduced -2.0k -2,000
39 REGIONS FINANCIAL CORP 0.00% of their portfolio BIRMINGHAM, AL 123,000123.0k $126.6k $126.6k 0.00% Unchanged
40 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 105,000105.0k $108.0k $108.0k 0.00% Reduced -6.0k -6,000
41 Skaana Management L.P. 0.02% of their portfolio BROOKLYN, NY 100,000100.0k $102.9k $102.9k 0.02% New
42 Crestwood Advisors Group, LLC 0.00% of their portfolio BOSTON, MA 90,00090.0k $92.6k $92.6k 0.00% Unchanged
43 Integrated Advisors Network LLC 0.01% of their portfolio DALLAS, TX 85,00085.0k $89.3k $89.3k 0.01% Unchanged
44 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 80,00080.0k $82.0k $82.0k 0.00% Unchanged
45 EXCALIBUR MANAGEMENT CORP 0.04% of their portfolio WALTHAM, MA 75,00075.0k $78.8k $78.8k 0.04% Added +50.0k +50,000
46 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 70,00070.0k $72.1k $72.1k 0.00% Unchanged
47 River Wealth Advisors LLC 0.01% of their portfolio CAMP HILL, PA 70,00070.0k $73.5k $73.5k 0.01% Unchanged
48 Wealthstar Advisors, LLC 0.02% of their portfolio Plano, TX 60,00060.0k $61.8k $61.8k 0.02% New
49 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 50,00050.0k $52.2k $52.2k 0.00% New
50 DUDLEY CAPITAL MANAGEMENT, LLC 0.03% of their portfolio Middleburg, VA 48,00048.0k $49.4k $49.4k 0.03% Unchanged
51 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 45,00045.0k $46.6k $46.6k 0.00% Unchanged
52 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 40,00040.0k $41.0k $41.0k 0.00% Unchanged
53 Northside Capital Management, LLC 0.01% of their portfolio Hood River, OR 40,00040.0k $41.4k $41.4k 0.01% New
54 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 37,00037.0k $38.0k $38.0k 0.00% Unchanged
55 Goldstein Advisors, LLC 0.59% of their portfolio Madison, WI 34,00034.0k $3.5m $3.5m 0.59% Unchanged
56 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 32,00032.0k $33.1k $33.1k 0.00% Added +11.0k +11,000
57 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 25,00025.0k $25.7k $25.7k 0.00% Unchanged
58 Realta Investment Advisors 0.01% of their portfolio WILMINGTON, DE 25,00025.0k $25.7k $25.7k 0.01% Unchanged
59 FLPUTNAM INVESTMENT MANAGEMENT CO 0.00% of their portfolio PORTLAND, ME 20,00020.0k $20.6k $20.6k 0.00% Unchanged
60 PFG Private Wealth Management, LLC 0.01% of their portfolio LUTZ, FL 20,00020.0k $20.7k $20.7k 0.01% Unchanged
61 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 16,00016.0k $16.5k $16.5k 0.00% Unchanged
62 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 15,00015.0k $15.4k $15.4k 0.00% Unchanged
63 Ayrshire Capital Management LLC 0.01% of their portfolio WESTPORT, CT 15,00015.0k $15.5k $15.5k 0.01% Unchanged
64 Strait & Sound Wealth Management LLC 0.01% of their portfolio SAN FRANCISCO, CA 15,00015.0k $15.6k $15.6k 0.01% Unchanged
65 Modern Wealth Management, LLC 0.00% of their portfolio KANSAS CITY, MO 15,00015.0k $15.4k $15.4k 0.00% First filing
66 Sightline Wealth Advisors, LLC 0.01% of their portfolio GROTON, CT 12,00012.0k $12.6k $12.6k 0.01% Unchanged
67 Mayflower Financial Advisors, LLC 0.00% of their portfolio BOSTON, MA 12,00012.0k $12.4k $12.4k 0.00% Unchanged
68 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 10,00010.0k $10.3k $10.3k 0.00% Unchanged
69 BBJS FINANCIAL ADVISORS, LLC 0.00% of their portfolio SEATTLE, WA 7,0007.0k $7.3k $7.3k 0.00% Unchanged
70 OFI INVEST ASSET MANAGEMENT 0.16% of their portfolio ISSY LES MOULINEAUX, I0 4,4004.4k $4.6m $4.6m 0.16% Unchanged
71 LAFFER TENGLER INVESTMENTS, INC. 0.98% of their portfolio Scottsdale, AZ 3,4593.5k $3.7m $3.7m 0.98% Reduced -329 -329
72 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 1,0001.0k $1.0k $1.0k 0.00% Unchanged
73 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged