Ares Management’s Nuveen Churchill Direct Lending NCDL Stock Holding History

Ares Management’s Portfolio NCDL Stock Details NCDL Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$11.9M	Buy	958,826 +383,988	+67%	+$5.12M	0.52%	22
2026 Q1	$7.31M	Buy	574,838 +214,008	+59%	+$2.87M	0.48%	23
2025 Q4	$4.81M	Buy	360,830 +235,674	+188%	+$3.35M	0.28%	27
2025 Q3	$1.73M	Hold	125,156	–	–	0.08%	29
2025 Q2	$2.03M	Buy	125,156 +16,000	+15%	+$253K	0.1%	29
2025 Q1	$1.85M	Sell	109,156 -23,914	-18%	-$411K	0.11%	28
2024 Q4	$2.23M	Hold	133,070	–	–	0.08%	28
2024 Q3	$2.32M	Hold	133,070	–	–	0.06%	29
2024 Q2	$2.32M	Buy	133,070 +74,622	+128%	+$1.31M	0.07%	28
2024 Q1	$1.06M	Buy	+58,448	New	+$1.01M	0.02%	33

Other funds holding NCDL

BOCH

Blue Owl Capital Holdings New York $665M AUM 95.48% 1-Year Est. Return

Corient Private Wealth Miami, Florida $72.2B AUM 27.85% 1-Year Est. Return

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

BBHC

Brown Brothers Harriman & Co New York $22.8B AUM 25.09% 1-Year Est. Return

Invesco Atlanta, Georgia $1.26T AUM 61.52% 1-Year Est. Return

VanEck Associates New York $164B AUM 112.45% 1-Year Est. Return

OWA

Opal Wealth Advisors Jericho, New York $463M AUM 20.47% 1-Year Est. Return

DCP

Diameter Capital Partners New York $1.24B AUM 137.67% 1-Year Est. Return

Two Sigma Investments New York $138B AUM 41.87% 1-Year Est. Return

CAM

Cresset Asset Management Chicago, Illinois $27.6B AUM 31.92% 1-Year Est. Return

Ares Management's NCDL Position: Q2 2026 in Review

Ares Management increased its Nuveen Churchill Direct Lending (NCDL) stake by 67% in Q2 2026, buying an estimated $5.12M and bringing the position to 958,826 shares worth $11.9M. The position accounts for 0.52% of the portfolio, ranked #22.

Ares Management first reported a position in NCDL in Q1 2024 and has held it in 10 quarters since. 68 funds tracked by Wall St. Rank hold NCDL as of Q2 2026.

Ares Management held 958,826 shares of Nuveen Churchill Direct Lending worth $11.9M as of Q2 2026.
Ares Management bought 383,988 Nuveen Churchill Direct Lending shares in Q2 2026, an estimated $5.12M.
Nuveen Churchill Direct Lending made up 0.52% of Ares Management's portfolio in Q2 2026, its #22 holding.
Ares Management first reported a position in Nuveen Churchill Direct Lending in Q1 2024 and has held it in 10 quarters since.
68 funds tracked by Wall St. Rank held Nuveen Churchill Direct Lending as of Q2 2026.

Based on Ares Management's 13F filing for Q2 2026, filed 14 Aug 2026.