Ares Strategic Income Fund
Inside Ares Strategic Income Fund’s private-credit portfolio — 17 portfolio holdings disclosed in SEC filings.
Filing Information
Portfolio Composition
Portfolio-wide breakdown by fair value across this BDC’s full Schedule of Investments. Source: SEC EDGAR (public).
Top Portfolio Holdings
| Company | Sector | Investment | Coupon | Maturity | Cost | Fair Value |
|---|---|---|---|---|---|---|
| ADLP LLC | — | $511,200,000 | ||||
| ADLP LLC, Subordinated certificates | Subordinated Certificates Subordinated | $511,200,000 | $511,200,000 | |||
| Dino BidCo S.p.A. | Senior Subordinated Loan Subordinated | SOFR + 3.50% | $330,897,800 | $371,089,300 | ||
| Denali Intermediate Holdings, Inc. and Denali Parent Holdings, L.P. | First Lien Senior Secured Loan Senior Secured | SOFR + 5.50% | $226,528,200 | $228,624,000 | ||
| Covert HoldCo, LP | Senior Subordinated Loan Subordinated | SOFR + 5.75% | $213,367,700 | $213,329,300 | ||
| FEH Group, LLC., Class A common interest 1 | Equity | $137,744,500 | $203,408,600 | |||
| WorkWave Intermediate II, LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 5.75% | $178,457,900 | $176,515,900 | ||
| Pike Corporation | First Lien Senior Secured Loan Senior Secured | SOFR + 4.50% | $174,344,500 | $173,433,300 | ||
| Himalaya TopCo LLC and BCPE Hyperlink Holdings, LP | First Lien Senior Secured Loan Senior Secured | SOFR + 5.00% (PIK 2.25%) | $157,945,300 | $160,658,700 | ||
| Reddy Ice LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 5.25% | $155,702,900 | $155,702,900 | ||
| Gula Buyer Inc. and Gula Co-Invest II, L.P. | First Lien Senior Secured Loan Senior Secured | SOFR + 4.50% | $147,038,700 | $148,500,000 | ||
| Neptune Bidco US Inc. and Elliott Metron Co-Investor Aggregator L.P. | First Lien Senior Secured Loan Senior Secured | SOFR + 5.00% | $146,703,100 | $141,223,400 | ||
| Silk Holdings III Corp. and Silk Holdings I Corp. | First Lien Senior Secured Loan Senior Secured | SOFR + 4.50% | $140,048,600 | $139,832,800 | ||
| Cambrex Corporation | First Lien Senior Secured Loan Senior Secured | SOFR + 4.50% | $137,919,000 | $139,019,800 | ||
| Global Music Rights, LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 4.50% | $134,413,800 | $136,354,200 | ||
| Global Medical Response, Inc. and GMR Buyer Corp. | First Lien Senior Secured Loan Senior Secured | SOFR + 3.50% | $132,935,000 | $132,672,700 | ||
| BVI Medical, Inc. and BVI Group Limited | First Lien Senior Secured Loan Senior Secured | SOFR + 6.25% (PIK 5.00%) | $141,387,700 | $131,662,700 | ||
| EMB Purchaser, Inc. | First Lien Senior Secured Loan Senior Secured | SOFR + 4.50% | $126,031,600 | $125,596,500 | ||
| Creek Parent, Inc. and Creek Feeder, L.P. | First Lien Senior Secured Loan Senior Secured | SOFR + 5.00% | $120,835,200 | $122,586,900 | ||
| Badia Spices, LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 4.25% | $116,051,400 | $117,642,900 | ||
| Flexera Software LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 4.50% | $109,961,600 | $108,652,500 | ||
| Severin Acquisition, LLC | First Lien Senior Secured Loan Senior Secured | SOFR + 4.75% (PIK 2.25%) | $110,321,300 | $108,633,300 | ||
| Adonis Bidco Inc. | First Lien Senior Secured Loan Senior Secured | SOFR + 5.75% (PIK 2.88%) | $107,949,700 | $107,545,900 | ||
| HighPeak Energy, Inc. | First Lien Senior Secured Loan Senior Secured | SOFR + 7.50% | $106,744,200 | $107,196,600 | ||
| Eclipse Topco, Inc., Eclipse Investor Parent, L.P. and Eclipse Buyer, Inc. | First Lien Senior Secured Loan Senior Secured | SOFR + 4.50% | $106,982,300 | $106,741,300 |
Loan-Pricing Trend
Fair-value-weighted average credit spread and average mark across this BDC’s Schedule-of-Investments debt holdings, by filing quarter. Spread and mark are shown in the units reported in the filing. Source: SEC EDGAR (public).
| Quarter | Priced Loans | Wtd-Avg Spread | Avg Mark | Debt Fair Value |
|---|---|---|---|---|
| 2023-03-31 | 0 | — | — | — |
| 2023-06-30 | 155 | 4.64 | 98.4 | $834M |
| 2023-09-30 | 211 | 4.47 | 98.7 | $1.7B |
| 2023-12-31 | 251 | 4.64 | 99.0 | $2.3B |
| 2024-03-31 | 313 | 4.72 | 99.4 | $3.1B |
| 2024-06-30 | 377 | 4.60 | 99.6 | $4.8B |
| 2024-09-30 | 426 | 4.52 | 99.1 | $6.4B |
| 2024-12-31 | 535 | 4.28 | 99.3 | $10.0B |
| 2025-03-31 | 552 | 4.22 | 97.7 | $11.9B |
| 2025-06-30 | 619 | 4.23 | 97.4 | $14.0B |
| 2025-09-30 | 646 | 4.34 | 96.9 | $16.3B |
| 2025-12-31 | 657 | 4.42 | 95.6 | $18.2B |
| 2026-03-31 | 848 | 4.54 | 93.0 | $20.9B |
Marks reflect each BDC’s own fair-value estimates as reported to the SEC, not traded prices. Private-credit loans are predominantly Level 3 under ASC 820 — valued from unobservable inputs and determined in good faith by each BDC’s board, so figures are estimates as of the filing date and are not directly comparable across managers. Informational only; not investment advice or a valuation.
About Ares Strategic Income Fund
Ares Strategic Income Fund (AGTC) is a publicly traded Business Development Company (BDC) — essentially a publicly listed fund that lends money to mid-sized private companies. In plain English: BDCs raise money from public investors and lend it to businesses that are too small for Wall Street banks. By law, they must pay out at least 90% of their profits as dividends, which is why BDC yields are often 8–12%. Ares Strategic Income Fund discloses its full loan portfolio through SEC filings.
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