Ares Dynamic Credit Allocation Fund Inc. (ARDC)

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Institutional Investors' Holdings

Filing Period:

No.	Name	Shares	Value	% Port
1.	Wells Fargo & Company	891,976	$12,264,666	0%
2.	Morgan Stanley	622,413	$8,558,200	0%
3.	Raymond James Financial Services Advisors, Inc.	381,886	$5,250,933	0%
4.	Hennion & Walsh Asset Management, Inc.	326,130	$4,484,288	0.25%
5.	Stifel Financial Corp	317,775	$4,369,467	0%