Ares Dynamic Credit (ARDC) — Thrivent Sells 360k, Buys 240k Shares

What Happened

• Thrivent Financial for Lutherans (identified as a 10% owner) reported two transactions in Ares Dynamic Credit Allocation Fund, Inc. (ARDC).
  • On 2026-09-15 Thrivent had a disposition of 360,000 shares at $25.00 each, totaling $9,000,000. This was reported with code J (other acquisition/disposition) and, per the filing footnote, represents the issuer’s redemption of Series B Mandatory Redeemable Preferred Shares at the $25 principal amount.
  • On 2026-09-14 Thrivent made an open-market purchase (code P) of 240,000 shares at $25.00 each, totaling $6,000,000.
• The redemption (disposition) is an issuer action, not a market sale by the holder. The purchase is an ordinary open-market acquisition.

Key Details

• Transaction dates and prices:
  • 2026-09-14: Purchase (P) — 240,000 shares @ $25.00 = $6,000,000
  • 2026-09-15: Disposition (J, redemption) — 360,000 shares @ $25.00 = $9,000,000
• Footnote: Series B Mandatory Redeemable Preferred Shares were redeemed by the issuer at $25.00 per share (principal amount).
• Filing: Form filed 2026-09-16 (no late-filing indication provided in the filing).
• Shares owned after the transactions: Not specified in the information provided in this summary.

Context

• Thrivent is a 10% institutional owner, not an individual executive; institutional transactions can reflect portfolio management or issuer actions rather than personal trading sentiment.
• The J-code disposition here corresponds to a redemption by the issuer (return of principal), which is different from a voluntary sale in the open market.
• Purchases can be more informative to investors than redemptions; this filing shows both a sizable purchase and a separate redemption event within two days.