ARES MANAGEMENT CORPORATION

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

Utah Retirement Systems's Holding History (CIK: 0001548392)

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

Q4 2025

Shares 31,094 Value ($000) $5,026 Avg Close $154.95 Range $138.30 - $180.02

Q3 2025

Shares 31,094 Value ($000) $4,972 Avg Close $178.28 Range $153.51 - $192.79

Q2 2025

Shares 30,616 Value ($000) $5,303 Avg Close $155.27 Range $108.50 - $173.43

Q1 2025

Shares 30,616 Value ($000) $4,489 Avg Close $168.35 Range $134.55 - $195.10

Q4 2024

Shares 30,700 Value ($000) $5,435 Avg Close $165.33 Range $147.85 - $179.17

Q3 2024

Shares 30,300 Value ($000) $4,722 Avg Close $139.75 Range $123.15 - $154.86

Q2 2024

Shares 29,200 Value ($000) $3,892 Avg Close $130.61 Range $119.64 - $143.42

Q1 2024

Shares 29,000 Value ($000) $3,856 Avg Close $121.35 Range $107.05 - $132.34

Q4 2023

Shares 28,300 Value ($000) $3,365 Avg Close $102.46 Range $90.47 - $114.79

Q3 2023

Shares 27,500 Value ($000) $2,829 Avg Close $94.74 Range $86.95 - $101.18

Q2 2023

Shares 27,500 Value ($000) $2,650 Avg Close $80.33 Range $72.34 - $91.06

Q1 2023

Shares 27,400 Value ($000) $2,286 Avg Close $73.16 Range $61.80 - $80.36

Q4 2022

Shares 27,300 Value ($000) $1,868 Avg Close $65.79 Range $53.36 - $78.37

Q3 2022

Shares 27,100 Value ($000) $1,679 Avg Close $63.25 Range $50.98 - $71.82

Q2 2022

Shares 27,000 Value ($000) $1,535 Avg Close $61.93 Range $48.02 - $76.43

Q1 2022

Shares 25,400 Value ($000) $2,063 Avg Close $68.19 Range $58.16 - $74.64

Q4 2021

Shares 25,800 Value ($000) $2,097 Avg Close $71.78 Range $63.89 - $79.37

Q3 2021

Shares 24,900 Value ($000) $1,839 Avg Close $63.14 Range $53.28 - $71.08

Q2 2021

Shares 7,100 Value ($000) $451 Avg Close $48.65 Range $43.84 - $56.33

Q1 2021

Shares 5,100 Value ($000) $286 Avg Close $43.40 Range $38.27 - $49.81

Q4 2020

Shares 5,100 Value ($000) $240 Avg Close $38.71 Range $34.00 - $42.95

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	31,094	$5,026	$154.95	$138.30 - $180.02
Q3 2025	31,094	$4,972	$178.28	$153.51 - $192.79
Q2 2025	30,616	$5,303	$155.27	$108.50 - $173.43
Q1 2025	30,616	$4,489	$168.35	$134.55 - $195.10
Q4 2024	30,700	$5,435	$165.33	$147.85 - $179.17
Q3 2024	30,300	$4,722	$139.75	$123.15 - $154.86
Q2 2024	29,200	$3,892	$130.61	$119.64 - $143.42
Q1 2024	29,000	$3,856	$121.35	$107.05 - $132.34
Q4 2023	28,300	$3,365	$102.46	$90.47 - $114.79
Q3 2023	27,500	$2,829	$94.74	$86.95 - $101.18
Q2 2023	27,500	$2,650	$80.33	$72.34 - $91.06
Q1 2023	27,400	$2,286	$73.16	$61.80 - $80.36
Q4 2022	27,300	$1,868	$65.79	$53.36 - $78.37
Q3 2022	27,100	$1,679	$63.25	$50.98 - $71.82
Q2 2022	27,000	$1,535	$61.93	$48.02 - $76.43
Q1 2022	25,400	$2,063	$68.19	$58.16 - $74.64
Q4 2021	25,800	$2,097	$71.78	$63.89 - $79.37
Q3 2021	24,900	$1,839	$63.14	$53.28 - $71.08
Q2 2021	7,100	$451	$48.65	$43.84 - $56.33
Q1 2021	5,100	$286	$43.40	$38.27 - $49.81
Q4 2020	5,100	$240	$38.71	$34.00 - $42.95