ARES MANAGEMENT LLC

**ARES MANAGEMENT LLC** manages $1.8B across a concentrated portfolio of 35 positions. The fund exhibits significant conviction in select names, with its largest holding in SVV at $1.097B, representing over 61% of reported top-ten exposure. Notable allocations include GBTG ($106.2M) and CCO ($91.0M), indicating a focused, high-conviction approach to market opportunities. This structure suggests a deep, research-driven mandate targeting outsized returns within specific sectors.

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