Vault-13

ARES MANAGEMENT CORPORATION ARES 6.75 10.01.27 B

6.75 SE B PFD · PUBLIC · CUSIP 03990B309

63 institutional holders -7 vs Q4 2025
63,315,52463.3m shares reported held*
$959.2mreported value*
9 new 22 added 25 reduced 14 sold out net bought ≈ $51.1m (+8.6m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $14.97.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q4 24: 58Q1 25: 74Q2 25: 72Q3 25: 72Q4 25: 70Q1 26: 6363Q4 24Q1 25Q2 25Q3 25Q4 25Q1 26
Numbers
QuarterHolders
Q4 202458
Q1 202574
Q2 202572
Q3 202572
Q4 202570
Q1 202663

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q1 25: 41 bought or addedQ1 25: 28 cut or sold outQ1 25Q2 25: 31 bought or addedQ2 25: 37 cut or sold outQ2 25Q3 25: 35 bought or addedQ3 25: 26 cut or sold outQ3 25Q4 25: 37 bought or addedQ4 25: 37 cut or sold outQ4 25Q1 26: 31 bought or addedQ1 26: 39 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q1 20254128
Q2 20253137
Q3 20253526
Q4 20253737
Q1 20263139

Biggest buyers

Fosun International Ltd Added +7,600,000+7.6m
FRANKLIN RESOURCES INC Added +4,537,610+4.5m
FMR LLC Added +1,916,559+1.9m
TPG GP A, LLC New +419,500+419.5k
PRICE T ROWE ASSOCIATES INC /MD/ Added +322,358+322.4k
JPMORGAN CHASE & CO Added +271,271+271.3k
VICTORY CAPITAL MANAGEMENT INC Added +157,315+157.3k
GOLDMAN SACHS GROUP INC Added +121,352+121.4k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +115,530+115.5k
SUSQUEHANNA ADVISORS GROUP, INC. New +100,000+100.0k

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Sold out -2,669,190-2.7m
Magnetar Financial LLC Reduced -525,000-525.0k
AMERIPRISE FINANCIAL INC Reduced -490,076-490.1k
TWO SIGMA INVESTMENTS, LP Sold out -473,690-473.7k
Sculptor Capital LP Sold out -329,854-329.9k
Calamos Advisors LLC Reduced -282,843-282.8k
Russell Investments Group, Ltd. Reduced -242,650-242.7k
WELLINGTON MANAGEMENT GROUP LLP Reduced -237,890-237.9k
D. E. Shaw & Co., Inc. Reduced -229,100-229.1k
BlackRock, Inc. Reduced -218,517-218.5k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Fosun International Ltd 3.24% of their portfolio HONG KONG, F4 35,720,00035.7m $12.9m $12.9m 3.24% Added +7.6m +7,600,000
2 FRANKLIN RESOURCES INC 0.09% of their portfolio San Mateo, CA 9,694,5399.7m $350.7m $350.7m 0.09% Added +4.5m +4,537,610
3 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 3,263,5503.3m $2.4m $2.4m 0.00% Reduced -242.7k -242,650
4 FMR LLC 0.00% of their portfolio BOSTON, MA 2,348,3292.3m $86.8m $86.8m 0.00% Added +1.9m +1,916,559
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,074,0092.1m $75.0m $75.0m 0.00% Reduced -218.5k -218,517
6 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 1,428,2941.4m $51.7m $51.7m 0.03% Added +157.3k +157,315
7 Calamos Advisors LLC 0.19% of their portfolio NAPERVILLE, IL 1,357,7661.4m $49.1m $49.1m 0.19% Reduced -282.8k -282,843
8 ADVENT CAPITAL MANAGEMENT /DE/ 1.03% of their portfolio NEW YORK, NY 933,089933.1k $34.7m $34.7m 1.03% Added +12.6k +12,616
9 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 929,288929.3k $33.6m $33.6m 0.00% Added +322.4k +322,358
10 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.04% of their portfolio CAUSEWAY BAY, K3 763,242763.2k $27.6m $27.6m 0.04% Added +83.2k +83,221
11 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 643,150643.1k $23.5m $23.5m 0.02% Reduced -229.1k -229,100
12 MacKay Shields LLC 0.65% of their portfolio New York, NY 480,034480.0k $17.8m $17.8m 0.65% Added +7.0k +6,989
13 CREDIT INDUSTRIEL ET COMMERCIAL 0.08% of their portfolio PARIS FRANCE, I0 475,000475.0k $475.0k $475.0k 0.08% Reduced -150.0k -150,000
14 INFRASTRUCTURE CAPITAL ADVISORS, LLC 1.58% of their portfolio New York, NY 465,201465.2k $16.8m $16.8m 1.58% Added +115.5k +115,530
15 TPG GP A, LLC 0.42% of their portfolio FORT WORTH, TX 419,500419.5k $15.5m $15.5m 0.42% New
16 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 384,585384.6k $14.0m $14.0m 0.00% Reduced -237.9k -237,890
17 Magnetar Financial LLC 0.14% of their portfolio EVANSTON, IL 382,250382.2k $14.0m $14.0m 0.14% Reduced -525.0k -525,000
18 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 361,626361.6k $13.2m $13.2m 0.00% Reduced -62.2k -62,250
19 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 317,510317.5k $11.5m $11.5m 0.00% Added +48.8k +48,824
20 Portman Square Capital LLP 1.74% of their portfolio London, X0 312,000312.0k $11.4m $11.4m 1.74% Reduced -188.0k -188,000
21 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 292,861292.9k $10.6m $10.6m 0.00% Added +271.3k +271,271
22 SSI INVESTMENT MANAGEMENT LLC 0.66% of their portfolio Los Angeles, CA 260,190260.2k $9.6m $9.6m 0.66% Reduced -7.2k -7,185
23 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 246,444246.4k $9.1m $9.1m 0.00% Reduced -490.1k -490,076
24 PIER 88 INVESTMENT PARTNERS LLC 2.18% of their portfolio SAN FRANCISCO, CA 234,800234.8k $8.5m $8.5m 2.18% Reduced -94.1k -94,070
25 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 223,430223.4k $8.1m $8.1m 0.02% Reduced -4.6k -4,645
26 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 172,641172.6k $6.2m $6.2m 0.00% Reduced -122.1k -122,130
27 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 162,409162.4k $5.9m $5.9m 0.00% Reduced -115.7k -115,692
28 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 137,272137.3k $5.0m $5.0m 0.00% Added +121.4k +121,352
29 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 133,187133.2k $4.8m $4.8m 0.00% Reduced -26.7k -26,731
30 SUSQUEHANNA ADVISORS GROUP, INC. 0.17% of their portfolio BALA CYNWYD, PA 100,000100.0k $3.6m $3.6m 0.17% New
31 RATIONAL ADVISORS, INC. 0.26% of their portfolio San Juan, PR 71,30071.3k $2.6m $2.6m 0.26% Reduced -86.7k -86,700
32 LAFFER TENGLER INVESTMENTS, INC. 0.38% of their portfolio Scottsdale, AZ 69,61069.6k $2.5m $2.5m 0.38% Added +3.1k +3,055
33 Alken Asset Management Ltd 4.47% of their portfolio LONDON, X0 69,00069.0k $2.5m $2.5m 4.47% Added +17.0k +17,000
34 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio PHILADELPHIA, PA 66,90066.9k $2.5m $2.5m 0.00% Added +13.8k +13,750
35 Penserra Capital Management LLC 0.03% of their portfolio ORINDA, CA 59,10559.1k $2.1m $2.1m 0.03% Reduced -3.8k -3,849
36 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 46,34246.3k $1.7m $1.7m 0.01% Added +12.3k +12,281
37 Elequin Capital, LP 0.14% of their portfolio NEW YORK, NY 42,95443.0k $1.6m $1.6m 0.14% Added +31.5k +31,522
38 WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio CHICAGO, IL 36,64736.6k $1.3m $1.3m 0.02% Reduced -49.6k -49,594
39 LORD, ABBETT & CO. LLC 0.00% of their portfolio JERSEY CITY, NJ 34,76334.8k $1.3m $1.3m 0.00% Reduced -209.0k -209,038
40 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 33,15433.2k $1.2m $1.2m 0.00% Added +22.3k +22,253
41 BlueCrest Capital Management Ltd 0.11% of their portfolio ST HELIER, Y9 32,26132.3k $1.2m $1.2m 0.11% Reduced -18.7k -18,704
42 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 30,02530.0k $1.1m $1.1m 0.00% Added +19.5k +19,522
43 PALISADE CAPITAL MANAGEMENT, LP 0.04% of their portfolio FORT LEE, NJ 29,07929.1k $1.1m $1.1m 0.04% Unchanged
44 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 28,00028.0k $1.0m $1.0m 0.00% Reduced -32.0k -32,000
45 AEGON USA Investment Management, LLC 0.64% of their portfolio CEDAR RAPIDS, IA 22,70022.7k $823.6k $823.6k 0.64% Unchanged
46 LuminArx Capital Management LP 0.55% of their portfolio NEW YORK, NY 20,00020.0k $726.0k $726.0k 0.55% New
47 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.00% of their portfolio VICTORIA, A1 14,30014.3k $517.4k $517.4k 0.00% New
48 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 9,5509.6k $345.5k $345.5k 0.00% Added +4.3k +4,300
49 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 7,7007.7k $278.6k $278.6k 0.00% Reduced -384 -384
50 Central Pacific Bank - Trust Division 0.03% of their portfolio HONOLULU, HI 5,9405.9k $214.9k $214.9k 0.03% Unchanged
51 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 5,5675.6k $201.4k $201.4k 0.00% Added +200 +200
52 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 3,5103.5k $127.0k $127.0k 0.01% Reduced -3.0k -3,000
53 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,6332.6k $95.0k $95.0k 0.00% New
54 WHITTIER TRUST CO 0.00% of their portfolio SOUTH PASADENA, CA 2,4002.4k $83.8k $83.8k 0.00% Unchanged
55 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 2,3302.3k $84.3k $84.3k 0.00% New
56 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,8641.9k $67.4k $67.4k 0.00% Added +1.2k +1,244
57 Ascentis Independent Advisors 0.00% of their portfolio DALLAS, TX 1,3351.3k $48.3k $48.3k 0.00% New
58 VIRTUS ADVISERS, LLC 0.01% of their portfolio HARTFORD, CT 850850 $31.4k $31.4k 0.01% Unchanged
59 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 614614 $22.2k $22.2k 0.00% Reduced -34.1k -34,060
60 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 500500 $18.1k $18.1k 0.00% New
61 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 254254 $9.0k $9.0k 0.00% New
62 Prosperity Bancshares Inc 0.00% of their portfolio Houston, TX 135135 $4.9k $4.9k 0.00% Unchanged
63 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 5959 $2.1k $2.1k 0.00% Unchanged