Ares Systematic Credit Ltd — 13F Holdings & Portfolio
CIK 2135379 · latest 13F-HR filed 2026-08-14
Ares Systematic Credit Ltd manages $164.7M in 13F-reported U.S. long-equity assets across 242 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are FE (3.24%), CBRL (2.74%), JBLU (2.70%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 173 new positions and exited 76; 34 existing positions rose in reported value and 20 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$164.7M
Long-equity book
Holdings
242
Distinct positions
Period
2026-06-30
Filed 2026-08-14
Q/Q Activity
+173 / −76 / ↑34 / ↓20
vs 2025-12-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26AKAM4.0% · +20%FE3.2% · newCBRL2.7% · newSMCI2.7% · +27%JBLU2.7% · +8%FIVN2.7% · +117%RBRK2.7% · newPRGS2.4% · +720%GH1.8% · +188%TE1.8% · +70%GPRE1.7% · +300%SNOW1.6% · -6%BBIO1.6% · +400%SO1.6% · +37%PNW1.5% · +24%Envista Holdings1.5% · newALRM1.4% · -46%GWRE1.4% · newEVRG1.4% · 0%RIVN1.4% · -52%WEC1.3% · -49%CSWC1.3% · +150%SPB1.3% · +5%SNAP1.2% · 0%NEE1.2% · +7%ETSY1.1% · -30%MCHP1.1% · +1500%WDC1.0% · -50%VAC1.0% · +31%HALO0.9% · +1300%VRNS0.9% · newXMTR0.8% · 0%CELC0.8% · +1000%SITM0.8% · newCIEN0.8% · newCRNC0.7% · 0%GVA0.6% · 0%NUVB0.6% · newBE0.6% · -43%ON0.6% · newSITM0.6% · newDOCN0.6% · -23%DDOG0.6% · -4%PRCH0.6% · -16%MCHP0.6% · newGWRE0.6% · +56%AVT0.6% · +136%DAVE0.6% · -36%SNOW0.6% · -19%U0.6% · -21%BILL0.6% · +39%DBX0.6% · +16%PD0.6% · newWK0.6% · +65%BAND0.6% · newBAPA0.5% · 0%Evolent Health,0.5% · newXMTR0.5% · -46%AEIS0.5% · newXYZ0.5% · -4%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 26.7%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Aug 26, 2026.
Assets Under Management
$9.89B
Discretionary
$9.89B
Employees
62
Accounts
9
Address
10 NEW BURLINGTON STREET
LONDON W1S 3BE
United Kingdom
LONDON W1S 3BE
United Kingdom
Phone
44 (0) 203 146 1500
This firm reports 3 disclosure items on its registration.
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| ARES MANAGEMENT LLC Control | SHAREHOLDER since May 2023 | 75% or more | Domestic Entity |
| GULATI, RICHA, M Control | CHIEF COMPLIANCE OFFICER since Mar 2026 | Less than 5% | Individual |
| HYDE, THOMAS, NIGEL Control | FINANCE DIRECTOR since Mar 2026 | Less than 5% | Individual |
| KHEIN, ALEXANDER, NMN Control | HEAD OF BUSINESS since Mar 2018 | Less than 5% | Individual |
| RESSLER, ANTONY, PETER Control | INDIRECT PRINCIPAL OWNER since Feb 2026 | Less than 5% | Individual |
| ARES HOLDCO LLC Control Indirect owner via ARES MANAGEMENT HOLDINGS L.P. | GENERAL PARTNER since Jul 2016 | General partner, trustee or manager | Domestic Entity |
| ARES HOLDCO LLC Control Indirect owner via ARES HOLDINGS L.P. | GENERAL PARTNER since Jul 2016 | General partner, trustee or manager | Domestic Entity |
| ARES HOLDINGS L.P. Control Indirect owner via ARES MANAGEMENT HOLDINGS L.P. | LIMITED PARTNER since Dec 2010 | 75% or more | Domestic Entity |
| ARES MANAGEMENT CORPORATION Control Indirect owner via ARES HOLDCO LLC | MEMBER since Mar 2021 | 75% or more | Domestic Entity |
| ARES MANAGEMENT HOLDINGS L.P. Control Indirect owner via ARES MANAGEMENT LLC | MEMBER since Dec 2010 | 75% or more | Domestic Entity |
| ARES OWNERS HOLDINGS L.P. Control Indirect owner via ARES HOLDINGS L.P. | LIMITED PARTNER since May 2007 | 50–75% | Domestic Entity |
| ARES PARTNERS HOLDCO LLC Control Indirect owner via ARES OWNERS HOLDINGS L.P. | GENERAL PARTNER since May 2014 | General partner, trustee or manager | Domestic Entity |
| RESSLER, ANTONY, PETER Control Indirect owner via ARES OWNERS HOLDINGS L.P. | LIMITED PARTNER since Jan 2002 | 25–50% | Individual |
Ownership & leadership changes · 4 filings with changes since Jan 16, 2020
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Mar 31, 2026 filing
- No longer listedBEBELLO, DAN-DANIEL, NMN · CHIEF OPERATING OFFICER & GENERAL COUNSEL, CLASS G ORDINARY SHAREHOLDER · Less than 5% · control person · listed since May 2018
- No longer listedBENITEZ-CASTELLANO, NATALIE, JANE · CHIEF ADMINISTRATIVE OFFICER, CLASS G ORDINARY SHAREHOLDER · Less than 5% · control person · listed since May 2018
- No longer listedEDWARDS, DAVID, NMN · CHIEF COMPLIANCE OFFICER, CLASS G ORDINARY SHAREHOLDER · Less than 5% · control person · listed since Dec 2019
- No longer listedOKULIAR, BORIS, NICHOLAS · NON-EXECUTIVE DIRECTOR · Less than 5% · listed since May 2023
- No longer listedTHE HARROWAY LIMITED PARTNERSHIP · SHAREHOLDER, CLASS B ORDINARY SHAREHOLDER · 25–50% · control person · listed since Mar 2018
- No longer listedTHE HARROWAY PARTNERSHIP (GP) LIMITED · GENERAL PARTNER · General partner, trustee or manager · indirect via THE HARROWAY LIMITED PARTNERSHIP · control person · listed since Jul 2012
- No longer listedWILLIS, HUGH, JOHN RAMSAY · EXECUTIVE CHAIRMAN · Less than 5% · control person · listed since Mar 2018
- No longer listedWILLIS, THOMAS, JACK RAMSAY · LIMITED PARTNER · 25–50% · indirect via THE HARROWAY LIMITED PARTNERSHIP · listed since Jul 2012
- No longer listedWILLIS, VICTORIA, EMILY RAMSAY · LIMITED PARTNER · 25–50% · indirect via THE HARROWAY LIMITED PARTNERSHIP · listed since Jul 2012
- No longer listedWILLIS, WILLIAM, JOHN RAMSAY · LIMITED PARTNER · 25–50% · indirect via THE HARROWAY LIMITED PARTNERSHIP · listed since Jul 2012
- AddedGULATI, RICHA, M · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- AddedHYDE, THOMAS, NIGEL · FINANCE DIRECTOR · Less than 5% · control person
- AddedRESSLER, ANTONY, PETER · INDIRECT PRINCIPAL OWNER · Less than 5% · control person
- ChangedARES MANAGEMENT LLC · title SHAREHOLDER, CLASS C ORDINARY SHAREHOLDER → SHAREHOLDER; ownership 25–50% → 75% or more
- ChangedKHEIN, ALEXANDER, NMN · title CHIEF EXECUTIVE OFFICER, CLASS A ORDINARY SHAREHOLDER → HEAD OF BUSINESS; ownership 25–50% → Less than 5%
Jun 26, 2023 filing
- AddedARES HOLDCO LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via ARES MANAGEMENT HOLDINGS L.P. · control person
- AddedARES HOLDCO LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via ARES HOLDINGS L.P. · control person
- AddedARES HOLDINGS L.P. · LIMITED PARTNER · 75% or more · indirect via ARES MANAGEMENT HOLDINGS L.P. · control person
- AddedARES MANAGEMENT CORPORATION · MEMBER · 75% or more · indirect via ARES HOLDCO LLC · control person
- AddedARES MANAGEMENT HOLDINGS L.P. · MEMBER · 75% or more · indirect via ARES MANAGEMENT LLC · control person
- AddedARES MANAGEMENT LLC · SHAREHOLDER, CLASS C ORDINARY SHAREHOLDER · 25–50% · control person
- AddedARES OWNERS HOLDINGS L.P. · LIMITED PARTNER · 50–75% · indirect via ARES HOLDINGS L.P. · control person
- AddedARES PARTNERS HOLDCO LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via ARES OWNERS HOLDINGS L.P. · control person
- AddedOKULIAR, BORIS, NICHOLAS · NON-EXECUTIVE DIRECTOR · Less than 5%
- AddedRESSLER, ANTONY, PETER · LIMITED PARTNER · 25–50% · indirect via ARES OWNERS HOLDINGS L.P. · control person
Mar 24, 2023 filing
- No longer listedPIERCE, NICHOLAS, ANDREW · CHIEF OPERATING OFFICER, CHIEF RISK OFFICER, CLASS G ORDINARY SHAREHOLDER · Less than 5% · control person · listed since Dec 2019
- ChangedBEBELLO, DAN-DANIEL, NMN · title GENERAL COUNSEL, CLASS G ORDINARY SHAREHOLDER → CHIEF OPERATING OFFICER & GENERAL COUNSEL, CLASS G ORDINARY SHAREHOLDER
Mar 31, 2021 filing
- ChangedBEBELLO, DAN-DANIEL, NMN · title GENERAL COUNSEL → GENERAL COUNSEL, CLASS G ORDINARY SHAREHOLDER
- ChangedBENITEZ-CASTELLANO, NATALIE, JANE · title CHIEF ADMINISTRATIVE OFFICER → CHIEF ADMINISTRATIVE OFFICER, CLASS G ORDINARY SHAREHOLDER
- ChangedEDWARDS, DAVID, NMN · title CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER, CLASS G ORDINARY SHAREHOLDER
- ChangedKHEIN, ALEXANDER, NMN · title CHIEF EXECUTIVE OFFICER → CHIEF EXECUTIVE OFFICER, CLASS A ORDINARY SHAREHOLDER
- ChangedPIERCE, NICHOLAS, ANDREW · title CHIEF OPERATING OFFICER → CHIEF OPERATING OFFICER, CHIEF RISK OFFICER, CLASS G ORDINARY SHAREHOLDER
- ChangedTHE HARROWAY LIMITED PARTNERSHIP · title SHAREHOLDER → SHAREHOLDER, CLASS B ORDINARY SHAREHOLDER
- ChangedTHE HARROWAY PARTNERSHIP (GP) LIMITED · indirect via THE HARROWAY LIMITED PARTNERSHIP: title GENERAL PARTNERS → GENERAL PARTNER
- ChangedWILLIS, HUGH, JOHN RAMSAY · title EXECUTIVE DIRECTOR → EXECUTIVE CHAIRMAN
Jan 16, 2020 filing (earliest on record)
- ListedBEBELLO, DAN-DANIEL, NMN · GENERAL COUNSEL · Less than 5% · control person
- ListedBENITEZ-CASTELLANO, NATALIE, JANE · CHIEF ADMINISTRATIVE OFFICER · Less than 5% · control person
- ListedEDWARDS, DAVID, NMN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedKHEIN, ALEXANDER, NMN · CHIEF EXECUTIVE OFFICER · 25–50% · control person
- ListedPIERCE, NICHOLAS, ANDREW · CHIEF OPERATING OFFICER · Less than 5% · control person
- ListedTHE HARROWAY LIMITED PARTNERSHIP · SHAREHOLDER · 25–50% · control person
- ListedTHE HARROWAY PARTNERSHIP (GP) LIMITED · GENERAL PARTNERS · General partner, trustee or manager · indirect via THE HARROWAY LIMITED PARTNERSHIP · control person
- ListedWILLIS, HUGH, JOHN RAMSAY · EXECUTIVE DIRECTOR · Less than 5% · control person
- ListedWILLIS, THOMAS, JACK RAMSAY · LIMITED PARTNER · 25–50% · indirect via THE HARROWAY LIMITED PARTNERSHIP
- ListedWILLIS, VICTORIA, EMILY RAMSAY · LIMITED PARTNER · 25–50% · indirect via THE HARROWAY LIMITED PARTNERSHIP
- ListedWILLIS, WILLIAM, JOHN RAMSAY · LIMITED PARTNER · 25–50% · indirect via THE HARROWAY LIMITED PARTNERSHIP
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- JetBlue Airways Corporation$4.4M +4438.1%
- Five9 Inc$4.3M +4803.5%
- Snowflake Inc$2.3M +756.4%
- Green Plains Inc$2.1M +328.3%
- Super Micro Computer, Inc.$1.6M +351.0%
Top Trims
- Workiva Inc-$3.9M -93.3%
- Solaris Oilfield Infrastructure Inc-$3.5M -84.2%
- Haemonetics Corporation-$2.4M -85.6%
- Guardant Health Inc-$2.0M -88.6%
- Ionis Pharmaceuticals Inc-$1.9M -92.5%
New Positions
- FirstEnergy Corp$5.3M
- Cracker Barrel Old Country Store Inc$4.5M
- Rubrik, Inc.$4.4M
- Progress Software Corp$3.9M
- T1 Energy Inc$2.9M
Exited Positions
- IMMUNOCORE HOLDINGS$4.1M
- SNOWFLAKE INC$3.4M
- BIOMARIN PHARMACEUTICAL$3.3M
- BRIDGEBIO PHARMA INC$2.4M
- ENVISTA HOLDINGS CORP$2.3M
Ares Systematic Credit Ltd Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | FirstEnergy Corp | FE | 337932AV9 | $5.3M | 3.24% | 4,800,000 | PRN |
| 2 | Cracker Barrel Old Country Store Inc | CBRL | 22410JAC0 | $4.5M | 2.74% | 4,400,000 | PRN |
| 3 | JetBlue Airways Corporation | JBLU | 477143AR2 | $4.5M | 2.70% | 4,000,000 | PRN |
| 4 | Five9 Inc | FIVN | 338307AF8 | $4.4M | 2.70% | 5,000,000 | PRN |
| 5 | Rubrik, Inc. | RBRK | 781154AD1 | $4.4M | 2.67% | 4,300,000 | PRN |
| 6 | Progress Software Corp | PRGS | 743312AD2 | $3.9M | 2.40% | 4,100,000 | PRN |
| 7 | Akamai Technologies Inc | AKAM | 00971TAN1 | $3.3M | 2.03% | 2,800,000 | PRN |
| 8 | Akamai Technologies Inc | AKAM | 00971TAL5 | $3.2M | 1.97% | 2,700,000 | PRN |
| 9 | T1 Energy Inc | TE | 35834FAB0 | $2.9M | 1.79% | 1,700,000 | PRN |
| 10 | Guardant Health Inc | GH | 40131MAB5 | $2.7M | 1.66% | 2,200,000 | PRN |
| 11 | Green Plains Inc | GPRE | 393222AM6 | $2.7M | 1.66% | 2,000,000 | PRN |
| 12 | Snowflake Inc | SNOW | 833445AD1 | $2.7M | 1.61% | 1,500,000 | PRN |
| 13 | SOUTHERN CO/THE | SO | 842587ED5 | $2.6M | 1.60% | 2,600,000 | PRN |
| 14 | Pinnacle West Capital Corp | PNW | 723484AK7 | $2.5M | 1.52% | 2,100,000 | PRN |
| 15 | Envista Holdings Corp | — | 29415FAC8 | $2.4M | 1.46% | 2,400,000 | PRN |
| 16 | Alarm.com Holdings Inc | ALRM | 011642AD7 | $2.4M | 1.44% | 2,500,000 | PRN |
| 17 | Guidewire Software Inc | GWRE | 40171VAC4 | $2.3M | 1.40% | 2,400,000 | PRN |
| 18 | Evergy Inc | EVRG | 30034WAD8 | $2.3M | 1.38% | 1,600,000 | PRN |
| 19 | Rivian Automotive Inc | RIVN | 76954AAD5 | $2.2M | 1.36% | 2,100,000 | PRN |
| 20 | WEC ENERGY GROUP, INC. | WEC | 92939UAP1 | $2.2M | 1.32% | 1,800,000 | PRN |
| 21 | BridgeBio Pharma, Inc. | BBIO | 10806XAB8 | $2.1M | 1.30% | 1,200,000 | PRN |
| 22 | Capital Southwest Corp | CSWC | 140501AE7 | $2.1M | 1.27% | 2,000,000 | PRN |
| 23 | Spectrum Brands, Inc. | — | 84762LAZ8 | $2.1M | 1.26% | 2,000,000 | PRN |
| 24 | Super Micro Computer, Inc. | SMCI | 86800UAD6 | $2.1M | 1.25% | 2,100,000 | PRN |
| 25 | Super Micro Computer, Inc. | SMCI | 86800UAB0 | $2.0M | 1.24% | 2,200,000 | PRN |
| 26 | NextEra Energy Capital Holdings Inc | NEEXU | 65339KCY4 | $2.0M | 1.20% | 1,500,000 | PRN |
| 27 | Snap Inc | SNAP | 83304AAK2 | $2.0M | 1.19% | 2,400,000 | PRN |
| 28 | Microchip Technology Incorporated | MCHP | 595017BG8 | $1.8M | 1.07% | 1,600,000 | PRN |
| 29 | Western Digital Corp | WDC | 958102AT2 | $1.7M | 1.02% | 100,000 | PRN |
| 30 | Marriott Vacations Worldwide Corp | VAC | 57164YAF4 | $1.7M | 1.01% | 1,700,000 | PRN |
| 31 | Etsy Inc | ETSY | 29786AAL0 | $1.6M | 0.98% | 1,700,000 | PRN |
| 32 | Halozyme Therapeutics Inc | HALO | 40637HAD1 | $1.6M | 0.95% | 1,400,000 | PRN |
| 33 | Varonis Systems Inc | VRNS | 922280AD4 | $1.5M | 0.88% | 1,500,000 | PRN |
| 34 | Xometry Inc | XMTR | 98423FAB5 | $1.4M | 0.84% | 800,000 | PRN |
| 35 | SiTime Corp | SITM | 82982TAA4 | $1.3M | 0.81% | 1,200,000 | PRN |
| 36 | Ciena Corporation | CIEN | 171779309 | $1.3M | 0.76% | 2,567 | SH |
| 37 | Celcuity Inc | CELC | 15102KAB6 | $1.1M | 0.69% | 1,000,000 | PRN |
| 38 | Cerence Inc. | CRNC | 156727AD1 | $1.1M | 0.67% | 1,200,000 | PRN |
| 39 | Granite Construction Inc | GVA | 387328AF4 | $1.0M | 0.64% | 500,000 | PRN |
| 40 | Nuvation Bio Inc. | NUVB | 67080NAA9 | $1.0M | 0.63% | 1,000,000 | PRN |
| 41 | Bloom Energy Corp | BE | 093712107 | $1.0M | 0.63% | 3,430 | SH |
| 42 | ON Semiconductor Corporation | ON | 682189105 | $1.0M | 0.61% | 10,628 | SH |
| 43 | SiTime Corp | SITM | 82982T106 | $988.6K | 0.60% | 1,326 | SH |
| 44 | DigitalOcean Holdings Inc | DOCN | 25402D102 | $988.2K | 0.60% | 6,293 | SH |
| 45 | Datadog Inc | DDOG | 23804L103 | $987.0K | 0.60% | 3,791 | SH |
| 46 | Porch Group Inc | PRCH | 733245104 | $983.5K | 0.60% | 65,389 | SH |
| 47 | Microchip Technology Incorporated | MCHP | 595017104 | $964.7K | 0.59% | 10,578 | SH |
| 48 | Guidewire Software Inc | GWRE | 40171V100 | $958.6K | 0.58% | 7,790 | SH |
| 49 | Avnet Inc | AVT | 053807103 | $954.9K | 0.58% | 10,751 | SH |
| 50 | Dave Inc | DAVE | 23834J201 | $953.1K | 0.58% | 2,558 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $164.7M | 242 | 0001104659-26-097277 |
| 2026-03-31 | 2026-05-15 | $126.6M | 150 | 0001104659-26-062638 |
| 2025-12-31 | 2026-05-19 | $123.0M | 145 | 0001104659-26-063842 |
Filer Information
Address
10 NEW BURLINGTON STREETLONDON W1S 3BE
Phone
44 (0) 203 146 1500
Filing Manager
Ares Systematic Credit Ltd
LONDON, X0
Signatory
Richa Gulati
Chief Compliance Officer