ARES MANAGEMENT CORPORATION

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

Fjell Capital, LLC's Holding History (CIK: 0002053350)

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

Q4 2025

Shares 8,408 Value ($000) $1,359 Avg Close $154.95 Range $138.30 - $180.02

Q3 2025

Shares 6,942 Value ($000) $1,110 Avg Close $178.28 Range $153.51 - $192.79

Q2 2025

Shares 7,065 Value ($000) $1,224 Avg Close $155.27 Range $108.50 - $173.43

Q1 2025

Shares 7,155 Value ($000) $1,049 Avg Close $168.35 Range $134.55 - $195.10

Q4 2024

Shares 5,981 Value ($000) $1,059 Avg Close $165.33 Range $147.85 - $179.17

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	8,408	$1,359	$154.95	$138.30 - $180.02
Q3 2025	6,942	$1,110	$178.28	$153.51 - $192.79
Q2 2025	7,065	$1,224	$155.27	$108.50 - $173.43
Q1 2025	7,155	$1,049	$168.35	$134.55 - $195.10
Q4 2024	5,981	$1,059	$165.33	$147.85 - $179.17