ARES MANAGEMENT LLC
Q3 2023 Form 13-F

LOS ANGELES, CALIFORNIA
CIK 0001259313 · CRD 130074 · SEC-registered investment adviser
Consolidated report · includes 4 managers since Q3 2016
$3.9B Reported Value Total

ARES MANAGEMENT LLC reports 450 total accounts under management (AUM). There are 421 discretionary accounts valued at $239,688,702,247, and 29 non-discretionary accounts valued at $13,497,201,282.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary & Non-Discretionary
Firm Brochure (Part 2A)
Private funds (Form ADV)
837 funds · $427.5B gross asset value
Hedge Fund: $290.7B · Real Estate Fund: $47.4B · Private Equity Fund: $35.9B · Securitized Asset Fund: $35.6B · Other: $17.6B · Venture Capital Fund: $292.9M
Source: Form ADV filed 2026-08-26
Reported value
$3.9B
Quarter over quarter
-16.2%
Holdings
38
Top-10 concentration
92.6%

Filing Structure

Reports holdings for

  • Ares Enhanced Loan Investment Strategy Advisor IV L P · File #028-13594 · Q1 2021 – Q2 2024
  • ACOF Operating Manager IV LLC · File #028-17046 · Q3 2014 – Q2 2023 · declared by one filing
  • LANDMARK REALTY ADVISORS LLC · Q2 2023 – Q2 2023 · declared by one filing
  • ACOF Investment Management LLC (not a 13F filer in our records) · Q3 2022 – Q4 2022 · declared by one filing
  • ACOF Operating Manager IV, LLC (not a 13F filer in our records) · Q3 2022 – Q4 2022 · declared by one filing
  • Ares Capital Management III LLC (not a 13F filer in our records) · Q3 2022 – Q4 2022 · declared by one filing
  • Ares Enhanced Loan Investment Strategy Advisor IV, L.P. (not a 13F filer in our records) · Q3 2022 – Q4 2022 · declared by one filing
  • ASOF Investment Management LLC (not a 13F filer in our records) · Q3 2022 – Q4 2022 · declared by one filing
  • ASSF Operating Manager IV, L.P. (not a 13F filer in our records) · Q3 2022 – Q4 2022 · declared by one filing
  • Ares EIF Management, LLC (not a 13F filer in our records) · File #028-22166 · Q4 2021 – Q4 2021
  • ACOF Operating Manager III LLC (not a 13F filer in our records) · File #028-14343 · Q2 2013 – Q1 2021
  • Ares Cactus Operating Manager, L.P. (not a 13F filer in our records) · File #028-17507 · Q2 2016 – Q4 2018
  • ASSF Operating Manager, LLC (not a 13F filer in our records) · File #028-15013 · Q2 2013 – Q3 2017 · declared by one filing
  • ACOF OPERATING MANAGER LP (not a 13F filer in our records) · File #028-13372 · Q2 2013 – Q2 2017 · declared by one filing
  • ACOF Operating Manager II, L.P. (not a 13F filer in our records) · File #028-13373 · Q2 2013 – Q2 2017 · declared by one filing
  • Ares Capital Management LLC (not a 13F filer in our records) · File #028-17045 · Q3 2014 – Q2 2017 · declared by one filing
  • Ares Management Ltd (not a 13F filer in our records) · File #028-17778 · Q4 2016 – Q2 2017 · declared by one filing
  • ARES CAPITAL MANAGEMENT II LLC (not a 13F filer in our records) · File #028-16984 · Q3 2014 – Q2 2017 · declared by one filing

Key People

Form ADV owners & control persons
Antony Peter Ressler
LIMITED PARTNER
Michael J (mi Only) Arougheti
CO-FOUNDER AND CHIEF EXECUTIVE OFFICER
Ryan James-Barclay Berry
CHIEF MARKETING AND STRATEGY OFFICER
Q2 2023
Q4 2023
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Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q3 2023 13F filing summary

Period of report September 30, 2023
Filed November 14, 2023
Form 13F-HR
Reported value $3.9B
Positions 38
Change in reported value -20.3%
New positions 2
Exited positions 5
Position turnover 16.3%
Top-10 concentration 92.6%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 14, 2026
 42 $2.3B
Q1 2026 13F
Filed May 15, 2026
 37 $1.5B
Q4 2025 13F
Filed Feb 13, 2026
 35 $1.8B
Q3 2025 13F
Filed Nov 14, 2025
 34 $2.2B
Q2 2025 13F
Filed Aug 14, 2025
 34 $2.0B
Q1 2025 13F
Filed May 15, 2025
 33 $1.6B
Q4 2024 13F
Filed Feb 14, 2025
 34 $2.8B
Q3 2024 13F
Filed Nov 14, 2024
 37 $3.6B
Q2 2024 13F
Filed Aug 14, 2024
 34 $3.4B
Q1 2024 13F
Filed May 15, 2024
 34 $4.4B
Q4 2023 13F
Filed Feb 14, 2024
 38 $4.1B
Q3 2023 13F
Filed Nov 14, 2023
 38 $3.9B
Q2 2023 13F
Filed Aug 14, 2023
 41 $4.8B
Q1 2023 13F
Filed May 15, 2023
 38 $1.8B
Q4 2022 13F
Filed Feb 14, 2023
 40 $2.0B
Q3 2022 13F
Filed Nov 14, 2022
 41 $2.2B
Q2 2022 13F
Filed Aug 12, 2022
 38 $1.9B
Q1 2022 13F
Filed May 13, 2022
 40 $2.6B
Q4 2021 13F
Filed Feb 14, 2022
 45 $3.5B
Q3 2021 13F
Filed Nov 12, 2021
 43 $3.0B

33 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q3 2023

# Holding Reported value % of portfolio
1 SVV Savers Value Village Inc $2.5B 65.0%
2 FYBR Frontier Communications Parent Inc $604.3M 15.62%
3 CRC California Resources Corporation $151.2M 3.91%
4 CCO Clear Channel Outdoor Hldgs $88.2M 2.28%
5 GBTG Global Business Travel Group $48.3M 1.25%
6 AZEK AZEK Co Inc/The $41.3M 1.07%
7 BBDC Barings BDC Inc $38.5M 1.0%
8 ARCC Ares Cap Corp $35.6M 0.92%
9 MPLN Multiplan Corp $32.8M 0.85%
10 GBDC Golub Capital BDC Inc $26.5M 0.69%
11 OPAL OPAL Fuels Inc $25.1M 0.65%
12 BXSL Blackstone Secured Lending Fund $25.0M 0.65%
13 PNNT PennantPark Investment Corp $24.0M 0.62%
14 OBDC Blue Owl Capital Corp. $23.0M 0.6%
15 OCSL Oaktree Specialty Lending Corp $21.7M 0.56%
16 SLRC SLR Investment Corp $21.1M 0.55%
17 VNET VNET Group Inc. $17.5M 0.45%
18 TSLX Sixth Street Specialty Lending Inc $15.9M 0.41%
19 BKCC BlackRock Capital Investment $15.7M 0.41%
20 ARKO ARKO Corp $15.1M 0.39%

Values as reported on the Q3 2023 Form 13F. Every position is in the holdings table below.

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