Ares Cap Corp 7% Pfd.

CUSIP: 04010L509 Class: PREFERRED STOCK

Baker Ellis Asset Management LLC's Holding History (CIK: 0001365559)

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

Q4 2014
Shares 4,300 Value ($000) $109 Avg Close — Range —
Q4 2013
Shares 7,800 Value ($000) $204 Avg Close — Range —
Q3 2013
Shares 7,300 Value ($000) $189 Avg Close — Range —
Q2 2013
Shares 7,300 Value ($000) $190 Avg Close — Range —