ARES DYNAMIC CR ALLOCATION F

CUSIP: 04014F102 Class: COM

Note: Option positions (PUT/CALL) are excluded.

InstitutionSharesValue ($000)
WELLS FARGO & COMPANY/MN1,660,475$22,084
MORGAN STANLEY494,361$6,575
AdvisorNet Financial, Inc485,021$6,451
GUGGENHEIM CAPITAL LLC446,464$5,938
Foundations Investment Advisors, LLC429,434$5,711
United Advisor Group, LLC349,997$4,655
Invesco Ltd.340,061$4,523
Advisors Asset Management, Inc.339,579$4,516
SIT INVESTMENT ASSOCIATES INC298,905$4
Hennion & Walsh Asset Management, Inc.255,119$3,393
Shaker Financial Services, LLC244,497$3,252
NewEdge Wealth, LLC243,984$3,245
Janney Montgomery Scott LLC232,230$3
Huntleigh Advisors, Inc.216,625$2,881
Capital Investment Advisors, LLC190,577$2,535
STIFEL FINANCIAL CORP182,201$2,423
READYSTATE ASSET MANAGEMENT LP169,592$2,256
BANK OF AMERICA CORP /DE/132,189$1,758
BALYASNY ASSET MANAGEMENT L.P.109,817$1,461
Logan Stone Capital, LLC108,646$1,445
Farther Finance Advisors, LLC105,495$1,403
WOLVERINE ASSET MANAGEMENT LLC101,914$1,355
Curated Wealth Partners LLC87,908$1,169
RAYMOND JAMES FINANCIAL INC68,756$914
&PARTNERS67,608$899
NATIONS FINANCIAL GROUP INC, /IA/ /ADV64,281$855
UBS Group AG53,832$716
ROYAL BANK OF CANADA52,242$695
OSAIC HOLDINGS, INC.51,028$679
JANE STREET GROUP, LLC45,951$611
LANDSCAPE CAPITAL MANAGEMENT, L.L.C.45,482$605
LPL Financial LLC40,739$542
Virtus Investment Advisers, LLC38,898$517
NWF Advisory Services Inc.30,950$412
XTX Topco Ltd26,949$358
Cetera Investment Advisers25,660$341
Closed-End Fund Advisors, Inc.24,811$330
Marex Group plc22,901$305
NewEdge Advisors, LLC19,639$261
Secure Asset Management, LLC19,050$253
World Investment Advisors18,898$251
E&G Advisors, LP15,796$210
Williams Jones Wealth Management, LLC.15,435$205
Miracle Mile Advisors, LLC15,000$200
Waverly Advisors, LLC12,880$171
Anfield Capital Management, LLC12,609$168
SUSQUEHANNA INTERNATIONAL GROUP, LLP10,955$146
Founders Financial Alliance, LLC10,541$140
NEUBERGER BERMAN GROUP LLC10,000$133
Camelot Portfolios, LLC8,400$112
Federation des caisses Desjardins du Quebec7,600$101
GoalVest Advisory LLC7,000$93
Spire Wealth Management6,500$86
CoreCap Advisors, LLC4,074$54
Cedar Wealth Management, LLC4,026$54
EverSource Wealth Advisors, LLC2,552$34
WEBSTER BANK, N. A.2,531$34
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO2,033$27
Rockefeller Capital Management L.P.1,800$24
Turim 21 Investimentos Ltda.1,332$18
BNP PARIBAS ARBITRAGE, SA842$11
Triumph Capital Management800$11
Noble Wealth Management PBC500$7
CWM, LLC422$0
HARBOUR INVESTMENTS, INC.311$4
BOYD WATTERSON ASSET MANAGEMENT LLC/OH275$4
JONES FINANCIAL COMPANIES LLLP268$4
HIGHLINE WEALTH PARTNERS LLC250$3
MAI Capital Management57$1
ASSETMARK, INC7$0
Total (70 institutions)8,097,562$100,635