ARES MANAGEMENT CORPORATION

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

Philadelphia Financial Management of San Francisco, LLC's Holding History (CIK: 0001351407)

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

Q4 2024

Shares 46,183 Value ($000) $8,176 Avg Close $165.33 Range $147.85 - $179.17

Q4 2023

Shares 43,403 Value ($000) $5,161 Avg Close $102.46 Range $90.47 - $114.79

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2024	46,183	$8,176	$165.33	$147.85 - $179.17
Q4 2023	43,403	$5,161	$102.46	$90.47 - $114.79