ARES MANAGEMENT LLC
Long book
$1.52B
Q1 2026
Positions
37
Top-10 weight
86%
concentration
Last quarter
+26.6%
SPY +14.8%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsARES MANAGEMENT LLC is a concentrated fundamental stock-picker, specialised in consumer_discretionary (76% of the long book), running a $1.52B US long book across 37 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: SAVERS VALUE VILLAGE INC, CLEAR CHANNEL OUTDOOR HOLDIN, GLOBAL BUSINESS TRAVEL GROUP, INTEGER HOLDINGS CORP, ARES CAPITAL CORP.
Over the last 9 quarters its long book ran on average 6.9pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-28.8%
Q2 2024
-8.7%
Q3 2024
-0.5%
Q4 2024
-24.3%
Q1 2025
+32.0%
Q2 2025
+22.0%
Q3 2025
-21.1%
Q4 2025
-18.7%
Q1 2026
+26.6%
Sector allocation
Consumer discretionary 61%
Other 23%
Services media 9%
Industrials 6%
Utilities 1%
Technology 1%
Communications 0%
Long book by quarter
What does ARES MANAGEMENT own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SVV SAVERS VALUE VILLAGE INC | Consumer discretionary | 117.4M | $873.8M | 57.6% | Held |
| CCO CLEAR CHANNEL OUTDOOR HOLDIN | Services media | 41.2M | $97.6M | 6.4% | Held |
| GBTG GLOBAL BUSINESS TRAVEL GROUP | Industrials | 13.9M | $77.5M | 5.1% | Held |
| ARCC ARES CAPITAL CORP | — | 2.6M | $47.1M | 3.1% | +16.3% |
| GBDC GOLUB CAPITAL BDC INC | — | 3.1M | $38.7M | 2.6% | +11.8% |
| OBDC BLUE OWL CAPITAL CORP | — | 2.8M | $31.5M | 2.1% | Held |
| CTEV CLARITEV CORP | Services media | 1.9M | $30.4M | 2.0% | Held |
| BBDC BARINGS BDC INC | — | 3.6M | $29.9M | 2.0% | +1.1% |
| TSLX SIXTH STREET SPECIALTY LENDI | — | 1.4M | $24.9M | 1.6% | Held |
| OCSL OAKTREE SPECIALTY LENDING CO | — | 2.1M | $23.7M | 1.6% | +8.6% |
| GSBD GOLDMAN SACHS BDC INC | — | 2.2M | $19.3M | 1.3% | +53.7% |
| BXSL BLACKSTONE SECURED LENDING F | — | 805.7K | $19.1M | 1.3% | +0.6% |
| OTF BLUE OWL TECHNOLOGY FINANCE | — | 1.3M | $16.7M | 1.1% | +18.0% |
| FSK FS KKR CAPITAL CORP | — | 1.5M | $15.4M | 1.0% | +18.8% |
| ARKO ARKO CORP | Consumer discretionary | 2.1M | $11.7M | 0.8% | Held |
| HTGC HERCULES CAPITAL INC | — | 776.6K | $11.5M | 0.8% | +285.2% |
| MSIF MSC INCOME FUND INC | — | 826.6K | $10.1M | 0.7% | +40.5% |
| RWAY RUNWAY GROWTH FINANCE CORP | — | 1.2M | $8.1M | 0.5% | +112.9% |
| TRIN TRINITY CAPITAL INC | — | 545.7K | $8.0M | 0.5% | Held |
| OPAL OPAL FUELS INC-A | Utilities | 3.1M | $7.7M | 0.5% | Held |
| TEM TEMPUS AI INC-CL A | Technology | 164.4K | $7.4M | 0.5% | Held |
| NCDL NUVEEN CHURCHILL DIRECT LEND | — | 574.8K | $7.3M | 0.5% | +59.3% |
| CCAP CRESCENT CAPITAL BDC INC | — | 546.4K | $6.6M | 0.4% | +5.8% |
| MFIC MIDCAP FINANCIAL INVESTMENT | — | 545.5K | $6.1M | 0.4% | Held |
| FIP FTAI INFRASTRUCTURE INC | Industrials | 1.2M | $5.9M | 0.4% | Held |
| MSDL MORGAN STANLEY DIRECT LENDIN | — | 412.0K | $5.8M | 0.4% | +312.0% |
| OPTU OPTIMUM COMMUNICATIONS INC-A | Communications | 3.5M | $4.6M | 0.3% | Held |
| BRCB BLACK ROCK COFFEE BAR INC-A | Consumer discretionary | 250.7K | $3.2M | 0.2% | Held |
| CGBD CARLYLE SECURED LENDING INC | — | 240.0K | $2.6M | 0.2% | New |
| TCPC BLACKROCK TCP CAPITAL CORP | — | 545.0K | $2.0M | 0.1% | New |
| BCSF BAIN CAPITAL SPECIALTY FINAN | — | 94.7K | $1.2M | 0.1% | +38.0% |
| RENT RENT THE RUNWAY INC-A | Consumer discretionary | 169.4K | $810K | 0.1% | Held |
| UNIT UNITI GROUP INC | Communications | 14.5K | $136K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 37 | $1.52B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 35 | $1.75B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 35 | $2.20B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 34 | $1.96B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 33 | $1.63B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 34 | $2.84B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 37 | $3.61B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 34 | $3.37B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 36 | $4.36B | canonical | SEC ↗ |
Similar funds
SB INVESTMENT ADVISERS (UK) LTDBC Partners PE LPCerberus Capital Management, L.P.Gallagher Fiduciary Advisors, LLCGreenoaks Capital Partners LLCBLACKHILL CAPITAL INCCAS Investment Partners, LLCMantle Ridge LPArtal Group S.A.BIGLARI CAPITAL CORP.BBFIT INVESTMENTS PTE LTDB&D White Capital Company, LLC