ARES MANAGEMENT CORPORATION

Ticker: ARES CUSIP: 03990B101 Class: CL A COM STK

US BANCORP \DE\'s Holding History (CIK: 0000036104)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 14,147 Value ($000) $2,287 Avg Close $154.95 Range $138.30 - $180.02

Q3 2025

Shares 14,160 Value ($000) $2,264 Avg Close $178.28 Range $153.51 - $192.79

Q2 2025

Shares 14,850 Value ($000) $2,572 Avg Close $155.27 Range $108.50 - $173.43

Q1 2025

Shares 15,042 Value ($000) $2,206 Avg Close $168.35 Range $134.55 - $195.10

Q4 2024

Shares 15,648 Value ($000) $2,770 Avg Close $165.33 Range $147.85 - $179.17

Q3 2024

Shares 16,727 Value ($000) $2,607 Avg Close $139.75 Range $123.15 - $154.86

Q2 2024

Shares 16,015 Value ($000) $2,134 Avg Close $130.61 Range $119.64 - $143.42

Q1 2024

Shares 15,672 Value ($000) $2,084 Avg Close $121.35 Range $107.05 - $132.34

Q4 2023

Shares 17,388 Value ($000) $2,068 Avg Close $102.46 Range $90.47 - $114.79

Q3 2023

Shares 17,684 Value ($000) $1,819 Avg Close $94.74 Range $86.95 - $101.18

Q2 2023

Shares 16,861 Value ($000) $1,625 Avg Close $80.33 Range $72.34 - $91.06

Q1 2023

Shares 21,152 Value ($000) $1,765 Avg Close $73.16 Range $61.80 - $80.36

Q4 2022

Shares 19,926 Value ($000) $1,364 Avg Close $65.79 Range $53.36 - $78.37

Q3 2022

Shares 20,668 Value ($000) $1,280 Avg Close $63.25 Range $50.98 - $71.82

Q2 2022

Shares 22,058 Value ($000) $1,253 Avg Close $61.93 Range $48.02 - $76.43

Q1 2022

Shares 22,990 Value ($000) $1,868 Avg Close $68.19 Range $58.16 - $74.64

Q4 2021

Shares 23,899 Value ($000) $1,943 Avg Close $71.78 Range $63.89 - $79.37

Q3 2021

Shares 24,238 Value ($000) $1,790 Avg Close $63.14 Range $53.28 - $71.08

Q2 2021

Shares 25,012 Value ($000) $1,591 Avg Close $48.65 Range $43.84 - $56.33

Q1 2021

Shares 24,865 Value ($000) $1,393 Avg Close $43.40 Range $38.27 - $49.81

Q4 2020

Shares 26,364 Value ($000) $1,240 Avg Close $38.71 Range $34.00 - $42.95

Q3 2020

Shares 20,882 Value ($000) $844 Avg Close $33.84 Range $32.04 - $35.87

Q2 2020

Shares 20,858 Value ($000) $828 Avg Close $29.64 Range $23.86 - $34.59

Q1 2020

Shares 23,930 Value ($000) $740 Avg Close $28.96 Range $16.91 - $34.62

Q4 2019

Shares 19,865 Value ($000) $709 Avg Close $25.48 Range $21.03 - $29.79

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	14,147	$2,287	$154.95	$138.30 - $180.02
Q3 2025	14,160	$2,264	$178.28	$153.51 - $192.79
Q2 2025	14,850	$2,572	$155.27	$108.50 - $173.43
Q1 2025	15,042	$2,206	$168.35	$134.55 - $195.10
Q4 2024	15,648	$2,770	$165.33	$147.85 - $179.17
Q3 2024	16,727	$2,607	$139.75	$123.15 - $154.86
Q2 2024	16,015	$2,134	$130.61	$119.64 - $143.42
Q1 2024	15,672	$2,084	$121.35	$107.05 - $132.34
Q4 2023	17,388	$2,068	$102.46	$90.47 - $114.79
Q3 2023	17,684	$1,819	$94.74	$86.95 - $101.18
Q2 2023	16,861	$1,625	$80.33	$72.34 - $91.06
Q1 2023	21,152	$1,765	$73.16	$61.80 - $80.36
Q4 2022	19,926	$1,364	$65.79	$53.36 - $78.37
Q3 2022	20,668	$1,280	$63.25	$50.98 - $71.82
Q2 2022	22,058	$1,253	$61.93	$48.02 - $76.43
Q1 2022	22,990	$1,868	$68.19	$58.16 - $74.64
Q4 2021	23,899	$1,943	$71.78	$63.89 - $79.37
Q3 2021	24,238	$1,790	$63.14	$53.28 - $71.08
Q2 2021	25,012	$1,591	$48.65	$43.84 - $56.33
Q1 2021	24,865	$1,393	$43.40	$38.27 - $49.81
Q4 2020	26,364	$1,240	$38.71	$34.00 - $42.95
Q3 2020	20,882	$844	$33.84	$32.04 - $35.87
Q2 2020	20,858	$828	$29.64	$23.86 - $34.59
Q1 2020	23,930	$740	$28.96	$16.91 - $34.62
Q4 2019	19,865	$709	$25.48	$21.03 - $29.79