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Ares Management Portfolio holdings
AUM
$1.52B
1-Year Est. Return
12.97%
This Fund
S&P 500
This Quarter
Est. Return
-16.16%
1 Year Est. Return
+12.97%
3 Year Est. Return
-16%
5 Year Est. Return
-16.49%
10 Year Est. Return
+207.56%
AUM
$1.96B
AUM Growth
-$873M
(-31%)
Cap. Flow
-$284M
Cap. Flow
% of AUM
-14.5%
Top 10 Holdings %
Top 10 Hldgs %
85.75%
Holding
63
New
8
Increased
9
Reduced
31
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR Bloomberg High Yield Bond ETF
JNK
|
+$54.3M |
| 2 |
PG&E
PCG
|
+$26.7M |
| 3 |
CCT
Corporate Capital Trust, Inc.
CCT
|
+$17.9M |
| 4 |
WhiteHorse Finance
WHF
|
+$14M |
| 5 |
CBB
Cincinnati Bell Inc.
CBB
|
+$7.99M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Floor & Decor
FND
|
+$316M |
| 2 |
GST
Gastar Exploration Inc.
GST
|
+$31.8M |
| 3 |
CRC
California Resources Corporation
CRC
|
+$25.6M |
| 4 |
FS KKR Capital
FSK
|
+$8.46M |
| 5 |
Sixth Street Specialty
TSLX
|
+$7.46M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 40.18% |
| 2 | Energy | 23.18% |
| 3 | Financials | 11.88% |
| 4 | Communication Services | 2.67% |
| 5 | Utilities | 1.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Floor & Decor
FND
$6.31B
| $787M | 40.18% |
26,087,535
-7,744,108
| -23% | -$316M |
|
|
NBL
2
DELISTED
Noble Energy, Inc.
NBL
| $311M | 15.86% |
9,956,919
| – | – |
|
|
SFS
3
DELISTED
Smart & Final Stores, Inc.
SFS
| $252M | 12.87% |
44,218,762
| – | – |
|
|
HK
4
DELISTED
Halcon Resources Corporation
HK
| $93.5M | 4.77% |
20,922,122
-986,276
| -5% | -$4.14M |
|
|
5
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.29B
| $54.7M | 2.79% |
+505,500
| New | +$54.3M |
|
|
CRC
6
DELISTED
California Resources Corporation
CRC
| $43.7M | 2.23% |
899,984
-665,006
| -42% | -$25.6M |
|
|
CBB
7
DELISTED
Cincinnati Bell Inc.
CBB
| $42.5M | 2.17% |
2,667,692
+573,790
| +27% | +$7.99M |
|
8
Ares Capital
ARCC
$14.3B
| $41M | 2.09% |
2,382,826
-5,594
| -0.2% | -$95.9K |
|
|
9
PG&E
PCG
$37.7B
| $27.7M | 1.41% |
+600,235
| New | +$26.7M |
|
|
CCT
10
DELISTED
Corporate Capital Trust, Inc.
CCT
| $26.8M | 1.37% |
1,756,614
+1,087,098
| +162% | +$17.9M |
|
11
MidCap Financial Investment
MFIC
$793M
| $24.4M | 1.24% |
1,493,082
| – | – |
|
12
Option Care Health
OPCH
$3.65B
| $22.3M | 1.14% |
1,797,154
| – | – |
|
13
Hercules Capital
HTGC
$3.21B
| $20.2M | 1.03% |
1,535,687
-29,382
| -2% | -$392K |
|
|
PNNT
14
Pennant Park Investment Corp
PNNT
$242M
| $15.5M | 0.79% |
2,071,223
-21,700
| -1% | -$163K |
|
|
15
WhiteHorse Finance
WHF
$143M
| $13.5M | 0.69% |
+972,622
| New | +$14M |
|
16
Barings BDC
BBDC
$978M
| $13.4M | 0.68% |
1,339,412
+396,642
| +42% | +$4.35M |
|
17
BlackRock TCP Capital
TCPC
$331M
| $12.8M | 0.66% |
902,700
-278,723
| -24% | -$4.08M |
|
18
American Airlines Group
AAL
$10.1B
| $12.4M | 0.63% |
352,821
| – | – |
|
19
Golub Capital BDC
GBDC
$3.4B
| $12M | 0.61% |
650,757
-13,280
| -2% | -$245K |
|
|
BKCC
20
DELISTED
BlackRock Capital Investment Corporation
BKCC
| $11.7M | 0.6% |
1,984,200
-25,336
| -1% | -$154K |
|
21
New Mountain Finance
NMFC
$728M
| $11.2M | 0.57% |
831,319
-438,794
| -35% | -$6.08M |
|
22
Carlyle Secured Lending
CGBD
$769M
| $11.2M | 0.57% |
671,823
-13,711
| -2% | -$237K |
|
|
23
Sixth Street Specialty
TSLX
$1.78B
| $10.1M | 0.52% |
497,214
-381,279
| -43% | -$7.46M |
|
24
Clear Channel Outdoor Holdings
CCO
$1.23B
| $9.78M | 0.5% |
1,644,354
+261,536
| +19% | +$1.24M |
|
25
Oaktree Specialty Lending
OCSL
$1.12B
| $9.32M | 0.48% |
626,116
+121,548
| +24% | +$1.79M |
|
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Ares Management's Q3 2018 Portfolio in Review
As of Q3 2018, Ares Management held 63 positions worth $1.96B, down 31% from $2.83B the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Ares Management withdrew a net $284M in Q3 2018, closing 6 positions and reducing 31 holdings. Its most notable exit was Gastar Exploration Inc., an estimated $31.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 40% of assets, down from 59% a quarter earlier, followed by Energy and Financials.
Against the trend, Ares Management opened a new position in State Street SPDR Bloomberg High Yield Bond ETF worth $54.7M.
- Ares Management's largest Q3 2018 buy was State Street SPDR Bloomberg High Yield Bond ETF: 505,500 shares worth $54.7M.
- Ares Management added most to Corporate Capital Trust, Inc. in Q3 2018, an estimated $17.9M increase.
- Ares Management's biggest Q3 2018 reduction was Floor & Decor, cutting an estimated $316M.
- Ares Management fully exited Gastar Exploration Inc. in Q3 2018, selling an estimated $31.8M.
- Ares Management's ten largest holdings make up 86% of its $1.96B portfolio in Q3 2018.
- Ares Management opened 8 new positions and closed 6 in Q3 2018.
- Ares Management's portfolio value fell 31% quarter-over-quarter to $1.96B.
Based on Ares Management's 13F filing for Q3 2018, filed 14 Nov 2018.