L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
25
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 13 listed it in both
Shares listed
41,424,673
combined, among listed positions
Reported value
$6.7bn
combined, at the quarter end

Among the 92 comparable managers: 11 buyers (opened or added shares) and 21 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was -7,617,204.

Managers listing ARES in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

25 of 25 holders

ActionFiling
Capital World Investors10,129,166$1.6bn0.22%Trimmed-1,449,85511 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)8,140,784$1.3bn0.07%Added+210,08117 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc5,987,733$968m0.10%Trimmed-1,582,33617 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP5,829,225$942m0.17%Trimmed-3,553,54217 Feb 2026 (the filing on sec.gov)
MFS Investment Management5,705,599$922m0.30%Added+1,187,17422 Jan 2026 (the filing on sec.gov)
Invesco Ltd1,620,736$262munder 0.1%Added+687,22219 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd1,149,390$186m0.08%Added+153,48817 Feb 2026 (the filing on sec.gov)
Artisan Partners LP682,601$110m0.17%Added+98,94817 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC573,598$93munder 0.1%Added+244,17017 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC471,011$76m0.06%Trimmed-75,79327 Oct 2026 (the filing on sec.gov)
Holocene Advisors LP239,041$39m0.08%Newnew17 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC234,525$38munder 0.1%Trimmed-388,27117 Feb 2026 (the filing on sec.gov)
Woodline Partners LP220,148$36m0.14%Newnew17 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP196,471$32munder 0.1%Added+122,73817 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC71,461$12munder 0.1%Added+20,05117 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP56,772$9.2munder 0.1%Trimmed-127,38217 Feb 2026 (the filing on sec.gov)
Freestone Grove Partners LP51,626$8.3m0.06%Trimmed-208,96117 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP13,877$2.2munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
Millennium Management LLC12,852$2.1munder 0.1%Trimmed-1,366,49017 Feb 2026 (the filing on sec.gov)
Brevan Howard Capital Management LP10,520$1.7munder 0.1%Trimmed-30,61017 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC8,497$1.4munder 0.1%Trimmed-248,28012 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC6,841$1.1munder 0.1%Trimmed-119,19117 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC5,490$887kunder 0.1%Trimmed-49,52113 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC3,736$604kunder 0.1%Trimmed-18,22213 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC2,973$481kunder 0.1%Trimmed-5,84813 Feb 2026 (the filing on sec.gov)

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
13 in Q3 2024 to 9 in Q2 2026

Tracked managers listing it, at least.

0510152020192020202120222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
ARES by quarter
QuarterHoldersReported valueBuyersSellers
Q4 20182$158mn.a.n.a.
Q1 20193$203mn.a.n.a.
Q2 20193$301mn.a.n.a.
Q3 20194$361mn.a.n.a.
Q4 20194$462mn.a.n.a.
Q1 20205$690mn.a.n.a.
Q2 20207$1.1bnn.a.n.a.
Q3 20204$961mn.a.n.a.
Q4 20205$1.2bnn.a.n.a.
Q1 20216$1.4bnn.a.n.a.
Q2 20219$1.8bnn.a.n.a.
Q3 20217$2.2bnn.a.n.a.
Q4 202111$2.4bnn.a.n.a.
Q1 20228$2.3bnn.a.n.a.
Q2 20229$1.8bnn.a.n.a.
Q3 202212$2.2bnn.a.n.a.
Q4 202211$2.3bnn.a.n.a.
Q1 202311$2.7bnn.a.n.a.
Q2 202310$3.5bnn.a.n.a.
Q3 202311$4.1bnn.a.n.a.
Q4 202310$4.8bn62
Q1 202415$6.0bn112
Q2 202414$6.7bn94
Q3 202413$7.5bn66
Q4 202415$8.4bn78
Q1 202515$6.9bn78
Q2 202511$7.9bn48
Q3 202519$7.5bn154
Q4 202512$6.3bn1121
Q1 202613$3.9bn2311
Q2 20269$2.9bn1321

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

ARES and V →ARES and AXP →ARES and BAC →Choose a stock to compare with ARES →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own ARES, latest filings →Back to the 13F Explorer →