ARES MANAGEMENT LLC Diversified Active

CIK: 0001259313 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $1,750,436 (100.0% shares, 0.0% debt)

Holdings (35)

New Positions (4)

FIP FTAI Infrastructure Inc. 0.3%

Value ($000) $5,521 Shares 1,197,554 Est. Cost $4.91 Unrealized 0.0%

OXLC Oxford Lane Capital Corp. 0.2%

Value ($000) $3,623 Shares 247,500 Est. Cost $14.64 Unrealized —

ECC Eagle Point Credit Co Inc 0.1%

Value ($000) $1,795 Shares 311,659 Est. Cost $5.76 Unrealized —

MSDL Morgan Stanley Direct Lending Fund 0.1%

Value ($000) $1,648 Shares 100,000 Est. Cost $16.42 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FIP	FTAI Infrastructure Inc.	1,197,554	$5,521	0.3%	$4.91	0.0%	COMMON STOCK	35953C106
OXLC	Oxford Lane Capital Corp.	247,500	$3,623	0.2%	$14.64	—	COM	691543847
ECC	Eagle Point Credit Co Inc	311,659	$1,795	0.1%	$5.76	—	COM	269808101
MSDL	Morgan Stanley Direct Lending Fund	100,000	$1,648	0.1%	$16.42	0.0%	COM SHS	61774A103

Increased Positions (9)

OTF Blue Owl Technology Finance Corp 0.9%

Value ($000) $16,578 (+122.5%) Shares 1,140,168 (+111.5%) Est. Cost $13.91 Unrealized -1.8%

GSBD Goldman Sachs BDC Inc 0.7%

Value ($000) $13,113 (+61.5%) Shares 1,413,058 (+77.0%) Est. Cost $10.98 Unrealized -10.7%

OBDC Blue Owl Capital Corp 2.0%

Value ($000) $35,398 (+11.4%) Shares 2,847,757 (+14.5%) Est. Cost $10.11 Unrealized +22.2%

ARCC Ares Capital Corp 2.6%

Value ($000) $45,433 (+8.4%) Shares 2,245,810 (+9.3%) Est. Cost $14.19 Unrealized +39.5%

NCDL Nuveen Churchill Direct Lending Corp 0.3%

Value ($000) $4,813 (+178.7%) Shares 360,830 (+188.3%) Est. Cost $13.83 Unrealized -0.6%

MSIF MSC Income Fund Inc 0.4%

Value ($000) $7,730 (+44.2%) Shares 588,251 (+44.0%) Est. Cost $15.78 Unrealized -15.9%

GBDC Golub Capital BDC Inc 2.1%

Value ($000) $37,130 (+5.5%) Shares 2,736,210 (+6.4%) Est. Cost $10.68 Unrealized +26.8%

RWAY Runway Growth Finance Corp 0.3%

Value ($000) $4,939 (+11.5%) Shares 553,123 (+26.9%) Est. Cost $8.92 Unrealized +4.4%

NMFC New Mountain Finance Corp 0.3%

Value ($000) $5,550 (-3.5%) Shares 602,575 (+1.0%) Est. Cost $10.13 Unrealized -9.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OTF	Blue Owl Technology Finance Corp	1,140,168 (+111.5%)	$16,578 (+122.5%)	0.9%	$13.91	-1.8%	COMMON STOCK	095924106
GSBD	Goldman Sachs BDC Inc	1,413,058 (+77.0%)	$13,113 (+61.5%)	0.7%	$10.98	-10.7%	SHS	38147U107
OBDC	Blue Owl Capital Corp	2,847,757 (+14.5%)	$35,398 (+11.4%)	2.0%	$10.11	+22.2%	COM	69121K104
ARCC	Ares Capital Corp	2,245,810 (+9.3%)	$45,433 (+8.4%)	2.6%	$14.19	+39.5%	COM	04010L103
NCDL	Nuveen Churchill Direct Lending Corp	360,830 (+188.3%)	$4,813 (+178.7%)	0.3%	$13.83	-0.6%	COM SHS	67090S108
MSIF	MSC Income Fund Inc	588,251 (+44.0%)	$7,730 (+44.2%)	0.4%	$15.78	-15.9%	COM	55374X208
GBDC	Golub Capital BDC Inc	2,736,210 (+6.4%)	$37,130 (+5.5%)	2.1%	$10.68	+26.8%	COM	38173M102
RWAY	Runway Growth Finance Corp	553,123 (+26.9%)	$4,939 (+11.5%)	0.3%	$8.92	+4.4%	COM	78163D100
NMFC	New Mountain Finance Corp	602,575 (+1.0%)	$5,550 (-3.5%)	0.3%	$10.13	-9.5%	COM	647551100

Exited Positions (4)

XHB SPDR Series Trust 1.3%

Value ($000) $22,160 Shares 200,000 Est. Cost — Unrealized —

SLRC SLR Investment Corp 0.1%

Value ($000) $2,118 Shares 138,502 Est. Cost $11.00 Unrealized +35.8%

— ARKO Corp 0.0%

Value ($000) $10 Shares 1,100,000 Est. Cost $1.36 Unrealized —

XHG Xchange Tec. Inc 0.0%

Value ($000) $0 Shares 419,729 Est. Cost $0.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XHB	SPDR Series Trust	200,000	$22,160	1.3%	—	—	PUT	78464A888
SLRC	SLR Investment Corp	138,502	$2,118	0.1%	$11.00	+35.8%	—	83413U100
—	ARKO Corp	1,100,000	$10	0.0%	$1.36	—	—	041242116
XHG	Xchange Tec. Inc	419,729	$0	0.0%	$0.00	—	—	74738J508

Decreased Positions (3)

TSLX Sixth Street Specialty Lending Inc 1.7%

Value ($000) $29,426 (-7.7%) Shares 1,354,779 (-2.9%) Est. Cost $20.49 Unrealized +6.4%

BXSL Blackstone Secured Lending Fund 1.2%

Value ($000) $21,093 (-1.5%) Shares 801,100 (-2.4%) Est. Cost $20.18 Unrealized +29.3%

BBDC Barings BDC Inc 1.9%

Value ($000) $32,958 (-0.9%) Shares 3,590,176 (-5.4%) Est. Cost $5.90 Unrealized +47.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TSLX	Sixth Street Specialty Lending Inc	1,354,779 (-2.9%)	$29,426 (-7.7%)	1.7%	$20.49	+6.4%	COM	83012A109
BXSL	Blackstone Secured Lending Fund	801,100 (-2.4%)	$21,093 (-1.5%)	1.2%	$20.18	+29.3%	COMMON STOCK	09261X102
BBDC	Barings BDC Inc	3,590,176 (-5.4%)	$32,958 (-0.9%)	1.9%	$5.90	+47.1%	COM	06759L103

Unchanged Positions (19)

SVV Savers Value Village Inc 62.7%

Value ($000) $1,096,975 Shares 117,449,188 Est. Cost $23.30 Unrealized -55.9%

CCO Clear Channel Outdoor Holdings, Inc. 5.2%

Value ($000) $91,046 Shares 41,197,491 Est. Cost $2.07 Unrealized -10.6%

CTEV Multiplan Corp 4.6%

Value ($000) $79,648 Shares 1,863,105 Est. Cost $15.76 Unrealized +222.8%

GBTG Global Business Travel Group I 6.1%

Value ($000) $106,228 Shares 13,886,023 Est. Cost $6.32 Unrealized +22.7%

TEM Tempus AI, Inc. 0.6%

Value ($000) $9,707 Shares 164,383 Est. Cost $40.72 Unrealized +92.1%

OPTU Altice USA Inc 0.3%

Value ($000) $5,853 Shares 3,547,478 Est. Cost $9.43 Unrealized -78.4%

OCSL Oaktree Specialty Lending Corp 1.4%

Value ($000) $24,630 Shares 1,933,305 Est. Cost $19.59 Unrealized -31.8%

RENT Rent the Runway, Inc. 0.1%

Value ($000) $1,340 Shares 169,383 Est. Cost $18.16 Unrealized -70.3%

OPAL OPAL Fuels Inc 0.4%

Value ($000) $7,205 Shares 3,059,533 Est. Cost $9.70 Unrealized -75.2%

TRIN Trinity Capital Inc 0.5%

Value ($000) $7,995 Shares 545,723 Est. Cost $11.31 Unrealized +24.6%

YJ Yunji Inc 0.0%

Value ($000) $637 Shares 215,800,000 Est. Cost $0.01 Unrealized —

BRCB Black Rock Coffee Bar, Inc. 0.3%

Value ($000) $5,578 Shares 250,676 Est. Cost $26.13 Unrealized -11.3%

MFIC MidCap Financial Investment Corp 0.4%

Value ($000) $6,241 Shares 545,532 Est. Cost $11.76 Unrealized -1.5%

FSK FS KKR Capital Corp 1.1%

Value ($000) $18,920 Shares 1,277,482 Est. Cost $13.46 Unrealized +9.2%

CCAP Crescent Capital BDC Inc 0.4%

Value ($000) $7,256 Shares 516,409 Est. Cost $11.84 Unrealized +16.6%

UNIT Uniti Group Inc 0.0%

Value ($000) $102 Shares 14,518 Est. Cost $7.16 Unrealized -11.5%

ARKO Arko Corp 0.5%

Value ($000) $9,579 Shares 2,110,000 Est. Cost $9.16 Unrealized -51.2%

BCSF Bain Capital Specialty Finance Inc 0.1%

Value ($000) $954 Shares 68,595 Est. Cost $9.23 Unrealized +44.8%

HTGC Hercules Capital Inc 0.2%

Value ($000) $3,794 Shares 201,606 Est. Cost $17.50 Unrealized +3.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SVV	Savers Value Village Inc	117,449,188	$1,096,975	62.7%	$23.30	-55.9%	COM	80517M109
CCO	Clear Channel Outdoor Holdings, Inc.	41,197,491	$91,046	5.2%	$2.07	-10.6%	COM	18453H106
CTEV	Multiplan Corp	1,863,105	$79,648	4.6%	$15.76	+222.8%	CL A NEW	62548M209
GBTG	Global Business Travel Group I	13,886,023	$106,228	6.1%	$6.32	+22.7%	COM CL A	37890B100
TEM	Tempus AI, Inc.	164,383	$9,707	0.6%	$40.72	+92.1%	CL A	88023B103
OPTU	Altice USA Inc	3,547,478	$5,853	0.3%	$9.43	-78.4%	CL A	02156K103
OCSL	Oaktree Specialty Lending Corp	1,933,305	$24,630	1.4%	$19.59	-31.8%	COM	67401P405
RENT	Rent the Runway, Inc.	169,383	$1,340	0.1%	$18.16	-70.3%	CL A NEW	76010Y202
OPAL	OPAL Fuels Inc	3,059,533	$7,205	0.4%	$9.70	-75.2%	CLASS A COM	68347P103
TRIN	Trinity Capital Inc	545,723	$7,995	0.5%	$11.31	+24.6%	COM	896442308
YJ	Yunji Inc	215,800,000	$637	0.0%	$0.01	—	SPONSORED ADS A	98873N305
BRCB	Black Rock Coffee Bar, Inc.	250,676	$5,578	0.3%	$26.13	-11.3%	CL A	092244102
MFIC	MidCap Financial Investment Corp	545,532	$6,241	0.4%	$11.76	-1.5%	COM NEW	03761U502
FSK	FS KKR Capital Corp	1,277,482	$18,920	1.1%	$13.46	+9.2%	COM	302635206
CCAP	Crescent Capital BDC Inc	516,409	$7,256	0.4%	$11.84	+16.6%	COM	225655109
UNIT	Uniti Group Inc	14,518	$102	0.0%	$7.16	-11.5%	COM SHS	912932100
ARKO	Arko Corp	2,110,000	$9,579	0.5%	$9.16	-51.2%	COM	041242108
BCSF	Bain Capital Specialty Finance Inc	68,595	$954	0.1%	$9.23	+44.8%	COM STK	05684B107
HTGC	Hercules Capital Inc	201,606	$3,794	0.2%	$17.50	+3.1%	COM	427096508