Ares Capital

ARCC • NASDAQ

Ares Capital is a asset management company in the financial services sector on NASDAQ, led by R. Kipp deVeer, with a market cap of $14.9B. As of Q3 2025, 32% of shares are held by 771 institutional investors, with MORGAN STANLEY as the largest holder at 2.44%.

Chief Executive OfficerR. Kipp deVeer

Market Cap$14.9B

Asset Management

Financial Services

Employees870.0

Websitearescapitalcorp.com

Country

United States of America

Overview

Overview of institutional ownership in ARCC as of Q3 2025 with a market cap of $14.4B

All Institutions

Institutions: 771
Value Held: $4.6B
Shares Held: 225.9M
Avg Position: $6.0M
Median Position: $632.5K

Hedge Funds

Hedge Funds: 32
Value Held: $208.1M
Shares Held: 10.2M
Avg Position: $6.5M
Median Position: $870.0K

Ownership Breakdown

Institutional (non-HF)

30.55%

$4.4B

Hedge Funds

1.45%

$208.1M

Retail & Other

68.0%

$9.8B

Based on market cap of $14.4B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ARCC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$351.4M 0.02% of portfolio	2.44% 17.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
VAN ECK ASSOCIATES CORP ETF Provider	Jan Frederick Vaneck CEO	$265.5M 0.27% of portfolio	1.84% 13.0M shares	≤ Q2 2013 Held for 12y 5m+	$96.6B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$175.0M 0.01% of portfolio	1.22% 8.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
UBS Group AG Institution	Sergio P. Ermotti CEO	$161.2M 0.03% of portfolio	1.12% 7.9M shares	Q4 2014 Held for 10y 11m	$511.54B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$127.1M 0.01% of portfolio	0.88% 6.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.56T
G Generali Asset Management SPA SGR Institution	-	$103.1M 2.20% of portfolio	0.72% 5.1M shares	Q4 2024 Held for 11 months	$4.7B
L LEGAL & GENERAL GROUP PLC Institution	-	$94.8M 0.02% of portfolio	0.66% 4.6M shares	≤ Q2 2013 Held for 12y 5m+	$445.97B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$88.2M 0.02% of portfolio	0.61% 4.3M shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
L LPL Financial LLC Institution	-	$83.0M 0.02% of portfolio	0.58% 4.1M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$77.4M 0.02% of portfolio	0.54% 3.8M shares	≤ Q2 2013 Held for 12y 5m+	$433.11B

Net Capital Flow

Institutional buying and selling activity for ARCC in Q3 2025

Traded: −$842.3M
Buyers: 409
Sellers: 290
Total Bought: +$370.5M
Total Sold: −$1.2B
Avg Position: $5.4M

Biggest Buyers

Institution	Net Bought	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$49.2M +2.4M shares	$50.3M 2.5M shares
Marshall Wace LLP Institution	+$36.9M +1.8M shares	$36.9M 1.8M shares
MORGAN STANLEY RIA/Wealth	+$20.6M +1.0M shares	$351.4M 17.2M shares
UBS Group AG Institution	+$17.1M +836.8K shares	$161.2M 7.9M shares
Evercore Wealth Management, LLC RIA/Wealth	+$14.8M +724.9K shares	$48.8M 2.4M shares
C CI Private Wealth, LLC RIA/Wealth	+$14.0M +688.2K shares	$24.3M 1.2M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$11.8M +578.8K shares	$13.6M 667.2K shares
Q Qube Research & Technologies Ltd Institution	+$11.8M +577.0K shares	$18.2M 893.8K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$11.0M +538.0K shares	$11.3M 553.5K shares
G GREAT WEST LIFE ASSURANCE CO /CAN/ Institution	+$8.6M +420.7K shares	$17.9M 878.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$962.2M −43.8M shares	Sold Off 0 shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	−$24.8M −1.1M shares	Sold Off 0 shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$16.8M −824.5K shares	$50.5M 2.5M shares
FMR LLC Institution	−$16.7M −817.0K shares	$40.2M 2.0M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$16.7M −758.9K shares	Sold Off 0 shares
Invesco Ltd. ETF Provider	−$16.2M −792.8K shares	$56.3M 2.8M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$9.7M −473.8K shares	$46.1M 2.3M shares
GOLDMAN SACHS GROUP INC Institution	−$9.6M −472.7K shares	$52.4M 2.6M shares
L LGT CAPITAL PARTNERS LTD. Institution	−$9.6M −436.5K shares	Sold Off 0 shares
L LSV ASSET MANAGEMENT Long Only Manager	−$9.0M −443.4K shares	$15.3M 750.1K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited ARCC in Q3 2025

New Positions: 21
New Value: $5.1M
Exited Positions: 85
Exited Value: $1.1B

New Positions

Institution	Position Value
Catalytic Wealth RIA, LLC RIA/Wealth	$1.4M 67.6K shares
M Massar Capital Management, LP Institution	$945.4K 46.3K shares
Spinnaker Investment Group, LLC RIA/Wealth	$556.6K 27.3K shares
Maia Wealth LLC RIA/Wealth	$499.5K 24.6K shares
VestGen Advisors, LLC RIA/Wealth	$341.8K 16.7K shares
Vestmark Advisory Solutions, Inc. Fund of Funds	$308.1K 15.1K shares
Stillwater Wealth Management Group RIA/Wealth	$305.6K 15.0K shares
Armis Advisers, LLC RIA/Wealth	$242.9K 11.9K shares
P PharVision Advisers, LLC Hedge Fund•Long/Short	$203.0K 9.9K shares
Point72 Europe LLP Digital Asset Manager	$135.5K 6.6K shares

Exited Positions

Institution	Previous Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	$962.2M 43.8M shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$24.8M 1.1M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$16.7M 758.9K shares
L LGT CAPITAL PARTNERS LTD. Institution	$9.6M 436.5K shares
Round Rock Advisors, LLC RIA/Wealth	$3.9M 178.7K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$3.3M 150.7K shares
T TCW GROUP INC Institution	$2.9M 132.3K shares
WHITTIER TRUST CO RIA/Wealth	$2.4M 109.1K shares
NISSAY ASSET MANAGEMENT CORP /JAPAN/ /ADV Insurance Manager	$2.1M 94.1K shares
Eagle Bay Advisors LLC Family Office	$2.0M 90.3K shares

Options Activity

Institutions with the largest Call and Put options positions in ARCC as of Q3 2025

Call Positions: 14
Call Value: $72.7M
Put Positions: 17
Put Value: $118.7M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$28.8M 14.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$10.4M 5.1K contracts
J JANE STREET GROUP, LLC Institution	$7.7M 3.8K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$6.9M 3.4K contracts
BANK OF AMERICA CORP /DE/ Institution	$6.1M 3.0K contracts
Walleye Trading LLC RIA/Wealth	$5.9M 2.9K contracts
W WOLVERINE TRADING, LLC Institution	$3.1M 1.5K contracts
LEUCADIA NATIONAL CORP Institution	$3.0M 1.5K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$465.3K 228.0 contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	$257.2K 126.0 contracts

Put Positions

Institution	Position Value
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$34.5M 16.9K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$31.6M 15.5K contracts
CITIGROUP INC Institution	$20.4M 10.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$15.5M 7.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.3M 2.1K contracts
Walleye Trading LLC RIA/Wealth	$3.5M 1.7K contracts
HBK INVESTMENTS L P Hedge Fund•Multi-Strategy	$3.1M 1.5K contracts
J JANE STREET GROUP, LLC Institution	$2.9M 1.4K contracts
W WOLVERINE TRADING, LLC Institution	$2.5M 1.2K contracts
LEUCADIA NATIONAL CORP Institution	$459.2K 225.0 contracts

Most Committed Institutions

Institutions with ARCC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
SAGE ADVISORS, LLC RIA/Wealth	Michael Joseph Helke CCO	15.12% $21.1M	0.15% 1.0M shares	Q4 2023 Held for 1y 11m	$139.6M
Muzinich & Co., Inc. Long Only Manager	Justin George Muzinich CEO	12.97% $33.5M	0.23% 1.6M shares	Q4 2014 Held for 10y 11m	$258.0M
GRITSTONE ASSET MANAGEMENT LLC Hedge Fund•Sector	Justin George De Orellana Cressall Managing Partner	9.71% $9.1M	0.06% 446.8K shares	Q4 2024 Held for 11 months	$93.9M
VISTA FINANCE, LLC RIA/Wealth	Lincoln Andrew Sorensen Managing Partner	8.23% $12.4M	0.09% 606.7K shares	Q4 2024 Held for 11 months	$150.4M
Melia Wealth LLC RIA/Wealth	Gregory Scott Melia President	7.17% $16.4M	0.11% 801.7K shares	Q4 2023 Held for 1y 11m	$228.2M
Smith Asset Management Co., LLC RIA/Wealth	Benjamin Larry Smith President	5.15% $6.1M	0.04% 296.5K shares	Q4 2024 Held for 11 months	$117.4M
Enstar Group LTD Institution	Dominic F. Silvester Chairman	3.94% $10.1M	0.07% 495.1K shares	Q4 2024 Held for 11 months	$256.2M
C Challenger Wealth Management RIA/Wealth	John Peter Gutfreund Managing Partner	3.87% $4.9M	0.03% 242.4K shares	Q4 2024 Held for 11 months	$127.9M
McGowan Group Asset Management, Inc. RIA/Wealth	Spencer Dean Mcgowan President	3.43% $23.9M	0.17% 1.2M shares	Q4 2014 Held for 10y 11m	$695.1M
FORESIGHT CAPITAL MANAGEMENT ADVISORS, INC. RIA/Wealth	Laurie Sue Stegenga President	3.35% $5.9M	0.04% 290.6K shares	Q4 2023 Held for 1y 11m	$176.8M

Hedge Fund Spotlight

Discover hedge funds investing in ARCC

ELCO Management Co., LLC

Hedge Fund • Long/Short

Portfolio ManagerPaul Elliot

Portfolio Value: $191.4M
Positions: 163
Last Reported: Q3 2025

Sector Allocation

Position in Ares Capital

Market Value: $206.4K
Shares Held: 10.1K
Portfolio Weight: 0.11%
Owned Since: 2021-Q2

Top Holding	Sector	Market Value	Weight
1 Cheniere Energy LNG	Oil & Gas Midstream Energy	$12.1M	6.31%
2 Williams Companies WMB	Oil & Gas Midstream Energy	$11.5M	6.03%
3 Targa Resources TRGP	Oil & Gas Midstream Energy	$8.8M	4.62%