Q4 2025 · 13F-HR
Ares Systematic Credit Ltdholdings as filed
Filed 2026-05-19 · accession 0001104659-26-063842
$123.0M
Reported value
145
Positions
2025-12-31
Period end
The Brief · Ares Systematic Credit Ltd · Q4 2025
AI · grounded in 13F
Ares Systematic Credit Ltd established a new position in Workiva Inc [[stock:WK 1.25 08/15/28]] valued at $4.17M. The fund also initiated new holdings in Immunocore Holdings [[stock:IMCR 2.5 02/01/30]] for $4.14M and Solaris Energy Infrastru [[stock:SEI 0.25 10/01/31]] for $4.12M. Additional new positions include Alarm.com Hldgs Inc [[stock:ALRM 2.25 06/01/29]] and Snowflake Inc [[stock:SNOW 0 10/01/27]].
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 98139AAD7 | WK 1.25 08/15/28 | WORKIVA INC | $4.2M | 3.39% | 4,200,000 | Common | SOLE |
| 45258DAB1 | IMCR 2.5 02/01/30 | IMMUNOCORE HOLDINGS | $4.1M | 3.36% | 4,500,000 | Common | SOLE |
| 83419XAB4 | SEI 0.25 10/01/31 | SOLARIS ENERGY INFRASTRU | $4.1M | 3.35% | 3,800,000 | Common | SOLE |
| 011642AD7 | ALRM 2.25 06/01/29 | ALARM.COM HLDGS INC | $4.1M | 3.34% | 4,300,000 | Common | SOLE |
| 833445AB5 | SNOW 0 10/01/27 | SNOWFLAKE INC | $3.4M | 2.78% | 2,300,000 | Common | SOLE |
| 09061GAK7 | BMRN 1.25 05/15/27 | BIOMARIN PHARMACEUTICAL | $3.3M | 2.66% | 3,400,000 | Common | SOLE |
| 30034WAD8 | EVRG 4.5 12/15/27 | EVERGY INC | $3.1M | 2.48% | 2,500,000 | Common | SOLE |
| 405024AD2 | HAE 2.5 06/01/29 | HAEMONETICS CORP | $2.8M | 2.29% | 2,700,000 | Common | SOLE |
| 00971TAN1 | AKAM 1.125 02/15/29 | AKAMAI TECHNOLOGIES INC | $2.6M | 2.10% | 2,600,000 | Common | SOLE |
| 40131MAB5 | GH 0 11/15/27 | GUARDANT HEALTH INC | $2.5M | 2.02% | 2,300,000 | Common | SOLE |
| 29786AAL0 | ETSY 0.125 09/01/27 | ETSY INC | $2.4M | 1.96% | 2,600,000 | Common | SOLE |
| 10806XAD4 | BBIO 2.25 02/01/29 | BRIDGEBIO PHARMA INC | $2.4M | 1.94% | 2,100,000 | Common | SOLE |
| 29415FAD6 | NVST 1.75 08/15/28 | ENVISTA HOLDINGS CORP | $2.3M | 1.89% | 2,400,000 | Common | SOLE |
| 00971TAL5 | AKAM 0.375 09/01/27 | AKAMAI TECHNOLOGIES INC | $2.3M | 1.88% | 2,300,000 | Common | SOLE |
| 42703MAF0 | HLF 4.25 06/15/28 | HERBALIFE LTD | $2.3M | 1.85% | 2,100,000 | Common | SOLE |
| 92939UAP1 | WEC 4.375 06/01/27 | WEC ENERGY GROUP INC | $2.3M | 1.84% | 2,000,000 | Common | SOLE |
| 26210CAD6 | DBX 0 03/01/28 | DROPBOX INC | $2.2M | 1.81% | 2,200,000 | Common | SOLE |
| 40131MAD1 | GH 1.25 02/15/31 | GUARDANT HEALTH INC | $2.2M | 1.79% | 1,200,000 | Common | SOLE |
| 268158AE2 | — | DYNAVAX TECHNOLOGIES | $2.2M | 1.79% | 2,100,000 | Common | SOLE |
| 68213NAF6 | OMCL 1 12/01/29 | OMNICELL INC | $2.2M | 1.76% | 2,000,000 | Common | SOLE |
| 842587DZ7 | SO 4.5 06/15/27 | SOUTHERN CO | $2.1M | 1.74% | 2,000,000 | Common | SOLE |
| 29786AAJ5 | ETSY 0.125 10/01/26 | ETSY INC | $2.1M | 1.73% | 2,100,000 | Common | SOLE |
| 462222AF7 | IONS 1.75 06/15/28 | IONIS PHARMACEUTICALS IN | $2.1M | 1.68% | 1,300,000 | Common | SOLE |
| 65339KCY4 | NEE 3 03/01/27 | NEXTERA ENERGY CAPITAL | $2.0M | 1.63% | 1,600,000 | Common | SOLE |
| 19240QAA0 | COGT 1.625 11/15/31 | COGENT BIOSCIENCES INC | $2.0M | 1.63% | 1,700,000 | Common | SOLE |
| 04271TAB6 | ARRY 1 12/01/28 | ARRAY TECHNOLOGIES INC | $2.0M | 1.63% | 2,200,000 | Common | SOLE |
| 450056AB2 | IRTC 1.5 09/01/29 | IRHYTHM TECHNOLOGIES INC | $2.0M | 1.60% | 1,400,000 | Common | SOLE |
| 76954AAD5 | RIVN 3.625 10/15/30 | RIVIAN AUTO INC | $1.9M | 1.56% | 1,700,000 | Common | SOLE |
| 91332UAB7 | U 0 11/15/26 | UNITY SOFTWARE INC | $1.8M | 1.50% | 1,900,000 | Common | SOLE |
| 007973AE0 | AEIS 2.5 09/15/28 | ADVANCED ENERGY IND | $1.6M | 1.34% | 1,000,000 | Common | SOLE |
| 25402DAB8 | DOCN 0 12/01/26 | DIGITALOCEAN HOLDINGS | $1.4M | 1.10% | 1,400,000 | Common | SOLE |
| 156727AD1 | CRNC 1.5 07/01/28 | CERENCE INC | $1.1M | 0.88% | 1,200,000 | Common | SOLE |
| 98423FAB5 | XMTR 1 02/01/27 | XOMETRY INC | $1.0M | 0.82% | 800,000 | Common | SOLE |
| 10806XAB8 | BBIO 2.5 03/15/27 | BRIDGEBIO PHARMA INC | $947,931 | 0.77% | 500,000 | Common | SOLE |
| 958102AT2 | WDC 3 11/15/28 | WESTERN DIGITAL CORP | $918,027 | 0.75% | 200,000 | Common | SOLE |
| 097023105 | BA | BOEING CO/THE | $913,698 | 0.74% | 13,142 | Common | SOLE |
| 69553PAD2 | PD 1.5 10/15/28 * | PAGERDUTY INC. | $862,800 | 0.70% | 900,000 | Common | SOLE |
| 093712107 | BE | BLOOM ENERGY CORP- A | $833,536 | 0.68% | 9,593 | Common | SOLE |
| 453204109 | PI | IMPINJ INC | $826,025 | 0.67% | 4,747 | Common | SOLE |
| 30212P303 | EXPE | EXPEDIA GROUP INC | $809,700 | 0.66% | 2,858 | Common | SOLE |
| 74736L109 | QTWO | Q2 HOLDINGS INC | $808,841 | 0.66% | 11,209 | Common | SOLE |
| 25402D102 | DOCN | DIGITALOCEAN HOLDINGS INC | $805,625 | 0.65% | 16,742 | Common | SOLE |
| 816850101 | SMTC | SEMTECH CORP | $798,873 | 0.65% | 10,841 | Common | SOLE |
| 29786A106 | ETSY | ETSY INC | $793,790 | 0.65% | 14,318 | Common | SOLE |
| 462222100 | IONS | IONIS PHARMACEUTICALS INC | $784,455 | 0.64% | 9,916 | Common | SOLE |
| 94419L101 | W | WAYFAIR INC- CLASS A | $778,780 | 0.63% | 7,756 | Common | SOLE |
| 76680R206 | RNG | RINGCENTRAL INC-CLASS A | $769,652 | 0.63% | 26,650 | Common | SOLE |
| 670002401 | NVAX | NOVAVAX INC | $755,241 | 0.61% | 112,387 | Common | SOLE |
| 833445109 | SNOW | SNOWFLAKE INC | $752,185 | 0.61% | 3,429 | Common | SOLE |
| 925550105 | VIAV | VIAVI SOLUTIONS INC | $747,068 | 0.61% | 41,923 | Common | SOLE |
| 91688F104 | UPWK | UPWORK INC | $741,823 | 0.60% | 37,428 | Common | SOLE |
| 399473AH0 | GRPN 6.25 03/15/27 * | GROUPON INC | $740,877 | 0.60% | 700,000 | Common | SOLE |
| 91332U101 | U | UNITY SOFTWARE INC | $732,515 | 0.60% | 16,584 | Common | SOLE |
| 69366J200 | PTCT | PTC THERAPEUTICS INC | $722,532 | 0.59% | 9,512 | Common | SOLE |
| 733245104 | PRCH | PORCH GROUP INC | $714,213 | 0.58% | 78,227 | Common | SOLE |
| 26210C104 | DBX | DROPBOX INC-CLASS A | $713,292 | 0.58% | 25,658 | Common | SOLE |
| 902681AB1 | UGI 5 06/01/28 | UGI CORP | $711,833 | 0.58% | 500,000 | Common | SOLE |
| 23804L103 | DDOG | DATADOG INC - CLASS A | $684,574 | 0.56% | 5,034 | Common | SOLE |
| 767292AB1 | RIOT 0.75 01/15/30 | RIOT PLATFORMS INC | $682,325 | 0.55% | 600,000 | Common | SOLE |
| 156727109 | CRNC | CERENCE INC | $673,459 | 0.55% | 62,999 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO & COMPANY | $669,368 | 0.54% | 550 | Common | SOLE |
| 387328AF4 | GVA 3.25 06/15/30 | GRANITE CONSTRUCTION INC | $640,578 | 0.52% | 400,000 | Common | SOLE |
| 393222AM6 | GPRE 5.25 11/01/30 UNRS | GREEN PLAINS INC | $637,340 | 0.52% | 600,000 | Common | SOLE |
| 69553P100 | PD | PAGERDUTY INC | $635,232 | 0.52% | 48,454 | Common | SOLE |
| 338307101 | FIVN | FIVE9 INC | $626,803 | 0.51% | 31,262 | Common | SOLE |
| 45781M101 | INVA | INNOVIVA INC | $624,727 | 0.51% | 31,252 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY INC | $607,704 | 0.49% | 11,809 | Common | SOLE |
| 00827BAB2 | AFRM 0 11/15/26 | AFFIRM HOLDINGS INC | $579,000 | 0.47% | 600,000 | Common | SOLE |
| 55024UAH2 | LITE 1.5 12/15/29 | LUMENTUM HOLDINGS INC | $531,517 | 0.43% | 100,000 | Common | SOLE |
| 060505104 | BAC | BANK OF AMERICA CORP | $510,867 | 0.42% | 408 | Common | SOLE |
| 83406F102 | SOFI | SOFI TECHNOLOGIES INC | $489,147 | 0.40% | 18,684 | Common | SOLE |
| 19459J104 | COLL | COLLEGIUM PHARMACEUTICAL INC | $470,315 | 0.38% | 10,158 | Common | SOLE |
| 86800UAB0 | SMCI 3.5 03/01/29 | SUPER MICRO COMPUTER INC | $452,058 | 0.37% | 500,000 | Common | SOLE |
| 45867GAD3 | IDCC 3.5 06/01/27 | INTERDIGITAL INC | $412,592 | 0.34% | 100,000 | Common | SOLE |
| 531229AP7 | SIRI 3.75 03/15/28 | SIRIUS XM HOLDINGS | $407,017 | 0.33% | 400,000 | Common | SOLE |
| 90353TAM2 | UBER 0.875 12/01/28 2028 | UBER TECHNOLOGIES INC | $390,069 | 0.32% | 300,000 | Common | SOLE |
| 852234103 | XYZ | BLOCK INC | $372,705 | 0.30% | 5,726 | Common | SOLE |
| 70614W100 | PTON | PELOTON INTERACTIVE INC-A | $368,103 | 0.30% | 59,757 | Common | SOLE |
| 26142RAB0 | DKNG 0 03/15/28 | DRAFTKINGS HOLDINGS INC | $366,160 | 0.30% | 400,000 | Common | SOLE |
| 283678209 | KMI 4.75 03/31/28 | EL PASO ENERGY CAP TRST | $355,248 | 0.29% | 7,200 | Common | SOLE |
| 00827B106 | AFRM | AFFIRM HOLDINGS INC | $353,691 | 0.29% | 4,752 | Common | SOLE |
| 31188V100 | FSLY | FASTLY INC - CLASS A | $345,214 | 0.28% | 33,911 | Common | SOLE |
| 81180WBL4 | STX 3.5 06/01/28 | SEAGATE HDD CAYMAN | $337,517 | 0.27% | 100,000 | Common | SOLE |
| 87157D109 | SYNA | SYNAPTICS INC | $336,125 | 0.27% | 4,541 | Common | SOLE |
| 15189TBD8 | CNP 4.25 08/15/26 | CENTERPOINT ENERGY INC | $333,617 | 0.27% | 300,000 | Common | SOLE |
| 833445AD1 | SNOW 0 10/01/29 | SNOWFLAKE INC | $309,800 | 0.25% | 200,000 | Common | SOLE |
| 19260QAF4 | COIN 0.25 04/01/30 | COINBASE GLOBAL INC | $308,213 | 0.25% | 300,000 | Common | SOLE |
| 48251W104 | KKR | KKR & CO INC | $304,362 | 0.25% | 5,861 | Common | SOLE |
| 55087P104 | LYFT | LYFT INC-A | $283,751 | 0.23% | 14,649 | Common | SOLE |
| 852234AK9 | XYZ 0.25 11/01/27 | BLOCK INC | $278,600 | 0.23% | 300,000 | Common | SOLE |
| 038169AB4 | APLD 2.75 06/01/30 | APPLIED DIGITAL CORP | $270,604 | 0.22% | 100,000 | Common | SOLE |
| 42824C109 | HPE | HP ENTERPRISE CO | $266,256 | 0.22% | 4,022 | Common | SOLE |
| 03769M106 | APO | APOLLO GLOBAL MANAGEMENT | $262,862 | 0.21% | 3,483 | Common | SOLE |
| 19260Q107 | COIN | COINBASE GLOBAL INC -CLASS A | $260,966 | 0.21% | 1,154 | Common | SOLE |
| 604749AB7 | MIRM 4 05/01/29 | MIRUM PHARMACEUTICALS | $259,137 | 0.21% | 100,000 | Common | SOLE |
| 007973100 | AEIS | ADVANCED ENERGY INDUSTRIES | $256,478 | 0.21% | 1,225 | Common | SOLE |
| 387328AD9 | GVA 3.75 05/15/28 | GRANITE CONSTRUCTION INC | $254,679 | 0.21% | 100,000 | Common | SOLE |
| 594972AS0 | MSTR 0 12/01/29 | STRATEGY INC | $247,080 | 0.20% | 300,000 | Common | SOLE |
| 399473206 | GRPN | GROUPON INC | $237,101 | 0.19% | 13,464 | Common | SOLE |
| 565788AF3 | MARA 0 03/01/30 | MARA HOLDINGS INC | $236,700 | 0.19% | 300,000 | Common | SOLE |
| 94419LAR2 | W 3.5 11/15/28 | WAYFAIR INC | $229,547 | 0.19% | 100,000 | Common | SOLE |
| 65341B106 | XIFR | XPLR INFRASTRUCTURE LP | $225,780 | 0.18% | 22,578 | Common | SOLE |
| 594972AN1 | MSTR 2.25 06/15/32 | STRATEGY INC | $222,300 | 0.18% | 200,000 | Common | SOLE |
| 69352PAS2 | PPL 2.875 03/15/28 | PPL CAPITAL FUNDING INC | $221,443 | 0.18% | 200,000 | Common | SOLE |
| 40637HAD1 | HALO 0.25 03/01/27 | HALOZYME THERAPEUTICS IN | $216,667 | 0.18% | 200,000 | Common | SOLE |
| 695127AJ9 | — | PACIRA BIOSCIENCES INC | $202,168 | 0.16% | 200,000 | Common | SOLE |
| 09257WAE0 | BXMT 5.5 03/15/27 | BLACKSTONE MORTGAGE TR | $201,339 | 0.16% | 200,000 | Common | SOLE |
| 896945201 | TRIP | TRIPADVISOR INC | $200,710 | 0.16% | 13,785 | Common | SOLE |
| 10950A106 | BTSG | BRIGHTSPRING HEALTH SERV | $189,197 | 0.15% | 1,498 | Common | SOLE |
| 83304AAH9 | SNAP 0.125 03/01/28 | SNAP INC | $181,643 | 0.15% | 200,000 | Common | SOLE |
| 532206109 | LIF | LIFE360 INC | $180,169 | 0.15% | 2,809 | Common | SOLE |
| 69331C108 | PCG | PG&E CORP | $171,652 | 0.14% | 4,180 | Common | SOLE |
| 94419LAP6 | W 3.25 09/15/27 | WAYFAIR INC | $167,585 | 0.14% | 100,000 | Common | SOLE |
| 012653101 | ALB | ALBEMARLE CORP | $152,091 | 0.12% | 2,580 | Common | SOLE |
| 538034BA6 | LYV 3.125 01/15/29 | LIVE NATION ENTERTAINMEN | $146,991 | 0.12% | 100,000 | Common | SOLE |
| 86771WAD7 | RUN 4 03/01/30 | SUNRUN INC | $143,383 | 0.12% | 100,000 | Common | SOLE |
| 595017104 | MCHP | MICROCHIP TECHNOLOGY INC | $143,378 | 0.12% | 2,453 | Common | SOLE |
| 472145AH4 | JAZZ 3.125 09/15/30 | JAZZ INVESTMENTS I LTD | $134,270 | 0.11% | 100,000 | Common | SOLE |
| 40637HAF6 | HALO 1 08/15/28 | HALOZYME THERAPEUTICS IN | $133,328 | 0.11% | 100,000 | Common | SOLE |
| 55306NAB0 | MKSI 1.25 06/01/30 | MKS INC | $127,904 | 0.10% | 100,000 | Common | SOLE |
| 82452J109 | FOUR | SHIFT4 PAYMENTS INC | $127,192 | 0.10% | 1,591 | Common | SOLE |
| 00182CAC7 | ANIP 2.25 09/01/29 | ANI PHARMACEUTICALS INC | $126,956 | 0.10% | 100,000 | Common | SOLE |
| 34379VAB9 | FLNC 2.25 06/15/30 | FLUENCE ENERGY INC | $121,413 | 0.10% | 100,000 | Common | SOLE |
| 70932AAH6 | PMT 8.5 06/01/29 | PENNYMAC CORP | $107,008 | 0.09% | 100,000 | Common | SOLE |
| 85571BBA2 | STWD 6.75 07/15/27 | STARWOOD PROPERTY TRUST | $106,788 | 0.09% | 100,000 | Common | SOLE |
| 594972AL5 | MSTR 0.875 03/15/31 | STRATEGY INC | $103,508 | 0.08% | 100,000 | Common | SOLE |
| 45781MAD3 | INVA 2.125 03/15/28 | INNOVIVA INC | $102,826 | 0.08% | 100,000 | Common | SOLE |
| 875372AD6 | TNDM 1.5 03/15/29 2024 | TANDEM DIABETES CARE INC | $102,379 | 0.08% | 100,000 | Common | SOLE |
| 525558AB8 | LMAT 2.5 02/01/30 | LEMAITRE VASCULAR INC | $101,292 | 0.08% | 100,000 | Common | SOLE |
| 62886HBD2 | NCLH 1.125 02/15/27 | NCL CORPORATION LTD | $100,425 | 0.08% | 100,000 | Common | SOLE |
| 23804LAD5 | DDOG 0 12/01/29 | DATADOG INC | $100,125 | 0.08% | 100,000 | Common | SOLE |
| 477143AR2 | JBLU 2.5 09/01/29 | JETBLUE AIRWAYS CORP | $98,083 | 0.08% | 100,000 | Common | SOLE |
| 91688FAB0 | UPWK 0.25 08/15/26 | UPWORK INC | $97,919 | 0.08% | 100,000 | Common | SOLE |
| 20717MAB9 | CFLT 0 01/15/27 | CONFLUENT INC | $97,350 | 0.08% | 100,000 | Common | SOLE |
| 207410AH4 | CNMD 2.25 06/15/27 | CONMED CORP | $96,100 | 0.08% | 100,000 | Common | SOLE |
| 974637AF7 | WGO 3.25 01/15/30 | WINNEBAGO INDUSTRIES | $95,749 | 0.08% | 100,000 | Common | SOLE |
| 682189AU9 | ON 0.5 03/01/29 | ON SEMICONDUCTOR CORP | $95,017 | 0.08% | 100,000 | Common | SOLE |
| 08265TAD1 | BSY 0.375 07/01/27 | BENTLEY SYSTEMS | $94,300 | 0.08% | 100,000 | Common | SOLE |
| 03209RAB9 | AMPH 2 03/15/29 | AMPHASTAR PHARMACEUTICAL | $93,299 | 0.08% | 100,000 | Common | SOLE |
| 252131AM9 | DXCM 0.375 05/15/28 | DEXCOM INC | $92,123 | 0.07% | 100,000 | Common | SOLE |
| 928298AR9 | VSH 2.25 09/15/30 | VISHAY INTERTECHNOLOGY | $90,788 | 0.07% | 100,000 | Common | SOLE |
| 338307AF8 | FIVN 1 03/15/29 | FIVE9 INC | $90,544 | 0.07% | 100,000 | Common | SOLE |
| 05988JAD5 | BAND 0.5 04/01/28 | BANDWIDTH INC | $87,475 | 0.07% | 100,000 | Common | SOLE |
| 82846H405 | QXO | QXO INC | $70,283 | 0.06% | 1,265 | Common | SOLE |
| 55024U109 | LITE | LUMENTUM HOLDINGS INC | $4,054 | 0.00% | 11 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.