ARES MANAGEMENT CORPORATION

CUSIP: 03990b101 Class: COM

Holders for Q4 2025 Position Changes for Q4 2025

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

Increased Positions (1)

Ancora Advisors LLC
Value ($000) $21,566 (+30.7%) Shares 133,428 (+29.3%)

Decreased Positions (2)

ZEVENBERGEN CAPITAL INVESTMENTS LLC
Value ($000) $18,172 (-28.9%) Shares 112,431 (-29.7%)
SVB WEALTH LLC
Value ($000) $2,034 (-29.4%) Shares 12,585 (-30.1%)