ARES MANAGEMENT CORPORATION

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

National Pension Service's Holding History (CIK: 0001608046)

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

Q4 2025

Shares 299,123 Value ($000) $48,347 Avg Close $154.95 Range $138.30 - $180.02

Q3 2025

Shares 264,857 Value ($000) $42,348 Avg Close $178.28 Range $153.51 - $192.79

Q2 2025

Shares 262,254 Value ($000) $45,422 Avg Close $155.27 Range $108.50 - $173.43

Q1 2025

Shares 260,730 Value ($000) $38,226 Avg Close $168.35 Range $134.55 - $195.10

Q4 2024

Shares 240,100 Value ($000) $42,505 Avg Close $165.33 Range $147.85 - $179.17

Q3 2024

Shares 260,600 Value ($000) $40,612 Avg Close $139.75 Range $123.15 - $154.86

Q2 2024

Shares 260,600 Value ($000) $34,733 Avg Close $130.61 Range $119.64 - $143.42

Q1 2024

Shares 240,900 Value ($000) $32,035 Avg Close $121.35 Range $107.05 - $132.34

Q4 2023

Shares 246,000 Value ($000) $29,254 Avg Close $102.46 Range $90.47 - $114.79

Q3 2023

Shares 246,000 Value ($000) $25,308 Avg Close $94.74 Range $86.95 - $101.18

Q2 2023

Shares 256,900 Value ($000) $24,567 Avg Close $80.33 Range $72.34 - $91.06

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	299,123	$48,347	$154.95	$138.30 - $180.02
Q3 2025	264,857	$42,348	$178.28	$153.51 - $192.79
Q2 2025	262,254	$45,422	$155.27	$108.50 - $173.43
Q1 2025	260,730	$38,226	$168.35	$134.55 - $195.10
Q4 2024	240,100	$42,505	$165.33	$147.85 - $179.17
Q3 2024	260,600	$40,612	$139.75	$123.15 - $154.86
Q2 2024	260,600	$34,733	$130.61	$119.64 - $143.42
Q1 2024	240,900	$32,035	$121.35	$107.05 - $132.34
Q4 2023	246,000	$29,254	$102.46	$90.47 - $114.79
Q3 2023	246,000	$25,308	$94.74	$86.95 - $101.18
Q2 2023	256,900	$24,567	$80.33	$72.34 - $91.06