ARES MANAGEMENT CORPORATION

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

Heard Capital LLC's Holding History (CIK: 0001796409)

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

Q4 2025

Shares 11,150 Value ($000) $1,802 Avg Close $154.95 Range $138.30 - $180.02

Q3 2025

Shares 11,150 Value ($000) $1,783 Avg Close $178.28 Range $153.51 - $192.79

Q2 2025

Shares 11,150 Value ($000) $1,931 Avg Close $155.27 Range $108.50 - $173.43

Q1 2025

Shares 11,150 Value ($000) $1,635 Avg Close $168.35 Range $134.55 - $195.10

Q4 2024

Shares 11,150 Value ($000) $1,974 Avg Close $165.33 Range $147.85 - $179.17

Q3 2024

Shares 11,150 Value ($000) $1,738 Avg Close $139.75 Range $123.15 - $154.86

Q2 2024

Shares 11,150 Value ($000) $1,486 Avg Close $130.61 Range $119.64 - $143.42

Q1 2024

Shares 12,450 Value ($000) $1,656 Avg Close $121.35 Range $107.05 - $132.34

Q4 2023

Shares 12,450 Value ($000) $1,481 Avg Close $102.46 Range $90.47 - $114.79

Q3 2023

Shares 15,800 Value ($000) $1,625 Avg Close $94.74 Range $86.95 - $101.18

Q2 2023

Shares 15,800 Value ($000) $1,522 Avg Close $80.33 Range $72.34 - $91.06

Q1 2023

Shares 18,900 Value ($000) $1,577 Avg Close $73.16 Range $61.80 - $80.36

Q4 2022

Shares 18,900 Value ($000) $1,294 Avg Close $65.79 Range $53.36 - $78.37

Q3 2022

Shares 12,320 Value ($000) $763 Avg Close $63.25 Range $50.98 - $71.82

Q2 2022

Shares 12,320 Value ($000) $701 Avg Close $61.93 Range $48.02 - $76.43

Q1 2022

Shares 12,320 Value ($000) $1,000,753 Avg Close $68.19 Range $58.16 - $74.64

Q4 2021

Shares 9,535 Value ($000) $774,909 Avg Close $71.78 Range $63.89 - $79.37

Q3 2021

Shares 4,685 Value ($000) $346 Avg Close $63.14 Range $53.28 - $71.08

Q2 2021

Shares 14,700 Value ($000) $935 Avg Close $48.65 Range $43.84 - $56.33

Q1 2021

Shares 24,991 Value ($000) $1,400 Avg Close $43.40 Range $38.27 - $49.81

Q4 2020

Shares 24,991 Value ($000) $1,175 Avg Close $38.71 Range $34.00 - $42.95

Q3 2020

Shares 24,991 Value ($000) $1,010,136 Avg Close $33.84 Range $32.04 - $35.87

Q2 2020

Shares 24,991 Value ($000) $992,142 Avg Close $29.64 Range $23.86 - $34.59

Q1 2020

Shares 20,000 Value ($000) $618,600 Avg Close $28.96 Range $16.91 - $34.62

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	11,150	$1,802	$154.95	$138.30 - $180.02
Q3 2025	11,150	$1,783	$178.28	$153.51 - $192.79
Q2 2025	11,150	$1,931	$155.27	$108.50 - $173.43
Q1 2025	11,150	$1,635	$168.35	$134.55 - $195.10
Q4 2024	11,150	$1,974	$165.33	$147.85 - $179.17
Q3 2024	11,150	$1,738	$139.75	$123.15 - $154.86
Q2 2024	11,150	$1,486	$130.61	$119.64 - $143.42
Q1 2024	12,450	$1,656	$121.35	$107.05 - $132.34
Q4 2023	12,450	$1,481	$102.46	$90.47 - $114.79
Q3 2023	15,800	$1,625	$94.74	$86.95 - $101.18
Q2 2023	15,800	$1,522	$80.33	$72.34 - $91.06
Q1 2023	18,900	$1,577	$73.16	$61.80 - $80.36
Q4 2022	18,900	$1,294	$65.79	$53.36 - $78.37
Q3 2022	12,320	$763	$63.25	$50.98 - $71.82
Q2 2022	12,320	$701	$61.93	$48.02 - $76.43
Q1 2022	12,320	$1,000,753	$68.19	$58.16 - $74.64
Q4 2021	9,535	$774,909	$71.78	$63.89 - $79.37
Q3 2021	4,685	$346	$63.14	$53.28 - $71.08
Q2 2021	14,700	$935	$48.65	$43.84 - $56.33
Q1 2021	24,991	$1,400	$43.40	$38.27 - $49.81
Q4 2020	24,991	$1,175	$38.71	$34.00 - $42.95
Q3 2020	24,991	$1,010,136	$33.84	$32.04 - $35.87
Q2 2020	24,991	$992,142	$29.64	$23.86 - $34.59
Q1 2020	20,000	$618,600	$28.96	$16.91 - $34.62