CIK: 0002135379
Total reported value
$126.6M
Reporting period: 2026-03-31 · Number of holdings: 150
Ares Systematic Credit Ltd disclosed 150 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $126.6M and a quarterly turnover rate of 101.6%.
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Ares Systematic Credit Ltd's disclosed holdings carry a Herfindahl concentration index of 0.015 — mathematically equivalent to about 68 equally-sized positions, well below its 150 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.10), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 2% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim SEI 0.25 10-01-31
-84.2% -$3.4M
Add JBLU 2.5 09-01-29
+3600.0% $3.3M
Trim SNOW 0 10-01-27
-91.3% -$3.2M
Trim IMCR 2.5 02-01-30
-51.1% -$2.2M
Trim GH 0 11-15-27
-82.6% -$2.1M
Trim OMCL 1 12-01-29
-95.0% -$2.1M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ALRM 2.25 06-01-29 | Alarm.com Hldgs INC | Stock-Other | 3.35% | — | +6.98% | |
| 2 | WEC 4.375 06-01-27 | Wec Energy Group INC | Stock-Utilities | 3.32% | +1.48% | +75.00% | |
| 3 | GPN 1.5 03-01-31 | Global Payments INC | Stock-Industrials | 3.25% | +3.25% | NEW | |
| 4 | BTU 3.25 03-01-28 | Peabody Energy CORP | Stock-Energy | 3.04% | +3.04% | NEW | |
| 5 | NVST 1.75 08-15-28 | Envista Holdings CORP | Stock-Healthcare | 2.89% | +1.00% | +54.17% | |
| 6 | JBLU 2.5 09-01-29 | Jetblue Airways CORP | Stock-Industrials | 2.69% | +2.61% | +3600.00% | |
| 7 | AKAM 1.125 02-15-29 | Akamai Technologies INC | Stock-Tech | 2.65% | +0.55% | +15.38% | |
| 8 | MTSI 0 12-15-29 | Macom Tech Solutions | Stock-Tech | 2.21% | +2.21% | NEW | |
| 9 | SMCI 2.25 07-15-28 | Super Micro Computer INC | Stock-Tech | 2.17% | +2.17% | NEW | |
| 10 | WK 1.25 08-15-28 | Workiva INC | Stock-Tech | 1.84% | -1.55% | -40.48% | |
| 11 | ETSY 0.125 10-01-26 | Etsy INC | Stock-Consumer Disc | 1.78% | — | +9.52% | |
| 12 | RIVN 4.625 03-15-29 | Rivian Auto INC | Stock-Consumer Disc | 1.74% | +1.74% | NEW | |
| 13 | RIVN 3.625 10-15-30 | Rivian Auto INC | Stock-Consumer Disc | 1.70% | — | +35.29% | |
| 14 | EVRG 4.5 12-15-27 | Evergy INC | Stock-Utilities | 1.70% | -0.78% | -36.00% | |
| 15 | SO 4.5 06-15-27 | Southern Co | Stock-Utilities | 1.67% | — | -5.00% | |
| 16 | COGT 1.625 11-15-31 | Cogent Biosciences INC | Stock-Other | 1.66% | — | +5.88% | |
| 17 | DOCN 0 12-01-26 | Digitalocean Holdings | Stock-Tech | 1.62% | — | +50.00% | |
| 18 | LCII 3 03-01-30 | Lci Industries | Stock-Consumer Disc | 1.59% | +1.59% | NEW | |
| 19 | FIVN 1 03-15-29 | Five9 INC | Stock-Tech | 1.58% | +1.51% | +2200.00% | |
| 20 | WGO 3.25 01-15-30 | Winnebago Industries | Stock-Other | 1.58% | +1.50% | +2100.00% | |
| 21 | ATEC 0.75 03-15-30 | Alphatec Holdings INC | Stock-Other | 1.55% | +1.55% | NEW | |
| 22 | IMCR 2.5 02-01-30 | Immunocore Holdings | Stock-Other | 1.54% | -1.82% | -51.11% | |
| 23 | PNW 4.75 06-15-27 | Pinnacle West Capital | Stock-Utilities | 1.54% | +1.54% | NEW | |
| 24 | NEE 3 03-01-27 | Nextera Energy Capital | Stock-Utilities | 1.53% | — | -12.50% | |
| 25 | HLF 4.25 06-15-28 | Herbalife LTD | Stock-Other | 1.50% | — | -23.81% | |
| 26 | SNAP 0.5 05-01-30 | Snap INC | Stock-Comm Services | 1.49% | +1.49% | NEW | |
| 27 | SPB 3.375 06-01-29 | Spectrum Brands INC | Stock-Other | 1.48% | +1.48% | NEW | |
| 28 | AKAM 0.375 09-01-27 | Akamai Technologies INC | Stock-Tech | 1.43% | — | -30.43% | |
| 29 | SNOW 0 10-01-29 | Snowflake INC | Stock-Tech | 1.36% | +1.11% | +600.00% | |
| 30 | WDC 3 11-15-28 | Western Digital CORP | Stock-Tech | 1.05% | — | — | |
| 31 | VAC 3.25 12-15-27 | Marriott Vacation Worldw | Stock-Consumer Disc | 0.99% | +0.99% | NEW | |
| 32 | TE 5.25 12-01-30 | T1 Energy INC | Stock-Other | 0.96% | +0.96% | NEW | |
| 33 | CRNC 1.5 07-01-28 | Cerence INC | Stock-Other | 0.85% | — | — | |
| 34 | ARWR 0 01-15-32 | Arrowhead Research CORP | Stock-Healthcare | 0.78% | +0.78% | NEW | |
| 35 | BSY 0.375 07-01-27 | Bentley Systems | Stock-Tech | 0.75% | +0.67% | +900.00% | |
| 36 | LITE 1.5 12-15-29 | Lumentum Holdings INC | Stock-Tech | 0.75% | — | — | |
| 37 | BOX 1.5 09-15-29 | Box INC | Stock-Tech | 0.72% | +0.72% | NEW | |
| 38 | U | Unity Software INC | Stock-Tech | 0.69% | — | +155.01% | |
| 39 | XMTR 1 02-01-27 | Xometry INC | Stock-Other | 0.66% | — | — | |
| 40 | PATK 1.75 12-01-28 | Patrick Industries INC | Stock-Consumer Disc | 0.66% | +0.66% | NEW | |
| 41 | BA 6 10-15-27 | Boeing Co/the | Stock-Industrials | 0.64% | +0.64% | NEW | |
| 42 | CSWC 5.125 11-15-29 | Capital Southwest CORP | Stock-Other | 0.63% | +0.63% | NEW | |
| 43 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 0.60% | — | — | |
| 44 | IONS 1.75 06-15-28 | Ionis Pharmaceuticals In | Stock-Healthcare | 0.58% | -1.10% | -61.54% | |
| 45 | GWRE | Guidewire Software INC | Stock-Tech | 0.57% | — | — | |
| 46 | BE | Bloom Energy Corp- A | Stock-Industrials | 0.57% | — | -36.81% | |
| 47 | FSLY | Fastly INC - Class A | Stock-Tech | 0.57% | — | -16.29% | |
| 48 | COIN | Coinbase Global INC -class A | Stock-Financials | 0.57% | — | +290.38% | |
| 49 | NVAX | Novavax INC | Stock-Healthcare | 0.57% | — | -20.33% | |
| 50 | SEI 0.25 10-01-31 | Solaris Energy Infrastru | Stock-Energy | 0.57% | -2.78% | -84.21% |
Performance for Q3 2026
—
Performance Last 4 Quarters
—
Based on 0 months of available history
Based on 14% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 150 | $126.6M | 100 | |
| 2025-12-31 | 145 | $123.0M | 0 |
Ares Systematic Credit Ltd's most significant position changes for 2026-03-31: New buy: Global Payments INC (GPN 1.5 03-01-31); New buy: Peabody Energy CORP (BTU 3.25 03-01-28); Sold out: Biomarin Pharmaceutical (BMRN 1.25 05-15-27); Sold out: Haemonetics CORP (HAE 2.5 06-01-29); New buy: Macom Tech Solutions (MTSI 0 12-15-29).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | JBLU 2.5 09-01-29 | Jetblue Airways CORP | +2.6% | +3600.00% | Add |
| 2 | FIVN 1 03-15-29 | Five9 INC | +1.5% | +2200.00% | Add |
| 3 | WGO 3.25 01-15-30 | Winnebago Industries | +1.5% | +2100.00% | Add |
| 4 | WEC 4.375 06-01-27 | Wec Energy Group INC | +1.5% | +75.00% | Add |
| 5 | SNOW 0 10-01-29 | Snowflake INC | +1.1% | +600.00% | Add |
| 6 | NVST 1.75 08-15-28 | Envista Holdings CORP | +1% | +54.17% | Add |
| 7 | BSY 0.375 07-01-27 | Bentley Systems | +0.7% | +900.00% | Add |
| 8 | AKAM 1.125 02-15-29 | Akamai Technologies INC | +0.6% | +15.38% | Add |
| 9 | EVRG 4.5 12-15-27 | Evergy INC | -0.8% | -36.00% | Trim |
| 10 | IONS 1.75 06-15-28 | Ionis Pharmaceuticals In | -1.1% | -61.54% | Trim |
| 11 | AEIS 2.5 09-15-28 | Advanced Energy Ind | -1.2% | -90.00% | Trim |
| 12 | U 0 11-15-26 | Unity Software INC | -1.3% | -84.21% | Trim |
| 13 | GH 1.25 02-15-31 | Guardant Health INC | -1.3% | -66.67% | Trim |
| 14 | WK 1.25 08-15-28 | Workiva INC | -1.6% | -40.48% | Trim |
| 15 | ETSY 0.125 09-01-27 | Etsy INC | -1.7% | -84.62% | Trim |
| 16 | OMCL 1 12-01-29 | Omnicell INC | -1.7% | -95.00% | Trim |
| 17 | GH 0 11-15-27 | Guardant Health INC | -1.7% | -82.61% | Trim |
| 18 | IMCR 2.5 02-01-30 | Immunocore Holdings | -1.8% | -51.11% | Trim |
| 19 | SNOW 0 10-01-27 | Snowflake INC | -2.6% | -91.30% | Trim |
| 20 | SEI 0.25 10-01-31 | Solaris Energy Infrastru | -2.8% | -84.21% | Trim |
| 21 | GPN 1.5 03-01-31 | Global Payments INC | — | NEW | New buy |
| 22 | BTU 3.25 03-01-28 | Peabody Energy CORP | — | NEW | New buy |
| 23 | BMRN 1.25 05-15-27 | Biomarin Pharmaceutical | — | EXIT | Sold out |
| 24 | HAE 2.5 06-01-29 | Haemonetics CORP | — | EXIT | Sold out |
| 25 | MTSI 0 12-15-29 | Macom Tech Solutions | — | NEW | New buy |
| 26 | SMCI 2.25 07-15-28 | Super Micro Computer INC | — | NEW | New buy |
| 27 | BBIO 2.25 02-01-29 | Bridgebio Pharma INC | — | EXIT | Sold out |
| 28 | DBX 0 03-01-28 | Dropbox INC | — | EXIT | Sold out |
| 29 | ✓ | Dynavax Technol | — | EXIT | Sold out |
| 30 | RIVN 4.625 03-15-29 | Rivian Auto INC | — | NEW | New buy |
| 31 | LCII 3 03-01-30 | Lci Industries | — | NEW | New buy |
| 32 | ARRY 1 12-01-28 | Array Technologies INC | — | EXIT | Sold out |
| 33 | IRTC 1.5 09-01-29 | Irhythm Holdings INC | — | EXIT | Sold out |
| 34 | ATEC 0.75 03-15-30 | Alphatec Holdings INC | — | NEW | New buy |
| 35 | PNW 4.75 06-15-27 | Pinnacle West Capital | — | NEW | New buy |
| 36 | SNAP 0.5 05-01-30 | Snap INC | — | NEW | New buy |
| 37 | SPB 3.375 06-01-29 | Spectrum Brands INC | — | NEW | New buy |
| 38 | VAC 3.25 12-15-27 | Marriott Vacation Worldw | — | NEW | New buy |
| 39 | TE 5.25 12-01-30 | T1 Energy INC | — | NEW | New buy |
| 40 | ARWR 0 01-15-32 | Arrowhead Research CORP | — | NEW | New buy |
| 41 | BBIO 2.5 03-15-27 | Bridgebio Pharma INC | — | EXIT | Sold out |
| 42 | BOX 1.5 09-15-29 | Box INC | — | NEW | New buy |
| 43 | BA | Boeing Co/the | — | EXIT | Sold out |
| 44 | PD 1.5 10-15-28 * | Pagerduty INC. | — | EXIT | Sold out |
| 45 | PATK 1.75 12-01-28 | Patrick Industries INC | — | NEW | New buy |
| 46 | PI | Impinj INC | — | EXIT | Sold out |
| 47 | BA 6 10-15-27 | Boeing Co/the | — | NEW | New buy |
| 48 | EXPE | Expedia Group INC | — | EXIT | Sold out |
| 49 | CSWC 5.125 11-15-29 | Capital Southwest CORP | — | NEW | New buy |
| 50 | IONS | Ionis Pharmaceuticals INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-05-19 | 13F-HR | View on EDGAR |
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