Vault-13

ARES MANAGEMENT CORPORATION ARES 6.75 10.01.27 B

6.75 SE B PFD · PUBLIC · CUSIP 03990B309

60 institutional holders -3 vs Q1 2026
65,700,68565.7m shares reported held*
$1.0bnreported value*
9 new 19 added 22 reduced 12 sold out net bought ≈ $27.4m (+2.4m 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 ($3.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $15.29.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q4 24: 58Q1 25: 74Q2 25: 72Q3 25: 72Q4 25: 70Q1 26: 63Q2 26: 6060Q4 24Q2 25Q4 25Q2 26
Numbers
QuarterHolders
Q4 202458
Q1 202574
Q2 202572
Q3 202572
Q4 202570
Q1 202663
Q2 202660

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 26Q2 26: 28 bought or addedQ2 26: 34 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q1 20254128
Q2 20253137
Q3 20253526
Q4 20253737
Q1 20263139
Q2 20262834

Biggest buyers

FMR LLC Added +2,220,200+2.2m
Russell Investments Group, Ltd. Added +1,150,150+1.2m
AMERIPRISE FINANCIAL INC Added +606,300+606.3k
TWO SIGMA INVESTMENTS, LP New +208,080+208.1k
Sculptor Capital LP New +177,425+177.4k
Context Capital Management, LLC New +175,000+175.0k
BlueCrest Capital Management Ltd Added +174,443+174.4k
BANK OF AMERICA CORP /DE/ Added +149,468+149.5k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +139,605+139.6k
STATE STREET CORP Added +90,262+90.3k

Biggest sellers

D. E. Shaw & Co., Inc. Sold out -643,150-643.1k
PRICE T ROWE ASSOCIATES INC /MD/ Reduced -642,124-642.1k
FRANKLIN RESOURCES INC Reduced -555,526-555.5k
Magnetar Financial LLC Sold out -382,250-382.2k
TPG GP A, LLC Reduced -294,500-294.5k
WELLINGTON MANAGEMENT GROUP LLP Reduced -227,952-228.0k
BlackRock, Inc. Reduced -208,955-209.0k
Portman Square Capital LLP Reduced -172,000-172.0k
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduced -104,095-104.1k
SUSQUEHANNA ADVISORS GROUP, INC. Sold out -100,000-100.0k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Fosun International Ltd 2.93% of their portfolio HONG KONG, F4 35,720,00035.7m $13.1m $13.1m 2.93% Unchanged
2 FRANKLIN RESOURCES INC 0.07% of their portfolio San Mateo, CA 9,139,0139.1m $334.9m $334.9m 0.07% Reduced -555.5k -555,526
3 FMR LLC 0.01% of their portfolio BOSTON, MA 4,568,5294.6m $171.9m $171.9m 0.01% Added +2.2m +2,220,200
4 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 4,413,7004.4m $3.2m $3.2m 0.00% Added +1.2m +1,150,150
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,865,0541.9m $68.4m $68.4m 0.00% Reduced -209.0k -208,955
6 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 1,516,6971.5m $55.6m $55.6m 0.03% Added +88.4k +88,403
7 Calamos Advisors LLC 0.18% of their portfolio NAPERVILLE, IL 1,358,7811.4m $49.8m $49.8m 0.18% Added +1.0k +1,015
8 ADVENT CAPITAL MANAGEMENT /DE/ 0.81% of their portfolio NEW YORK, NY 939,089939.1k $35.6m $35.6m 0.81% Added +6.0k +6,000
9 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 852,744852.7k $32.1m $32.1m 0.01% Added +606.3k +606,300
10 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.03% of their portfolio CAUSEWAY BAY, K3 659,147659.1k $24.2m $24.2m 0.03% Reduced -104.1k -104,095
11 INFRASTRUCTURE CAPITAL ADVISORS, LLC 1.73% of their portfolio New York, NY 604,806604.8k $22.2m $22.2m 1.73% Added +139.6k +139,605
12 MacKay Shields LLC 0.61% of their portfolio New York, NY 479,735479.7k $18.1m $18.1m 0.61% Reduced -299 -299
13 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 466,978467.0k $17.1m $17.1m 0.00% Added +149.5k +149,468
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 451,888451.9k $16.5m $16.5m 0.00% Added +90.3k +90,262
15 CREDIT INDUSTRIEL ET COMMERCIAL 1.70% of their portfolio PARIS FRANCE, I0 425,000425.0k $15.7m $15.7m 1.70% Reduced -50.0k -50,000
16 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 287,164287.2k $10.5m $10.5m 0.00% Reduced -642.1k -642,124
17 PIER 88 INVESTMENT PARTNERS LLC 2.41% of their portfolio SAN FRANCISCO, CA 276,200276.2k $10.1m $10.1m 2.41% Added +41.4k +41,400
18 SSI INVESTMENT MANAGEMENT LLC 0.54% of their portfolio Los Angeles, CA 255,390255.4k $9.3m $9.3m 0.54% Reduced -4.8k -4,800
19 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 238,594238.6k $8.6m $8.6m 0.00% Reduced -54.3k -54,267
20 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 223,225223.2k $8.2m $8.2m 0.01% Reduced -205 -205
21 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 212,409212.4k $7.8m $7.8m 0.00% Added +50.0k +50,000
22 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 208,080208.1k $7.6m $7.6m 0.01% New
23 BlueCrest Capital Management Ltd 0.32% of their portfolio ST HELIER, Y9 206,704206.7k $7.6m $7.6m 0.32% Added +174.4k +174,443
24 Sculptor Capital LP 0.07% of their portfolio New York, NY 177,425177.4k $6.5m $6.5m 0.07% New
25 Context Capital Management, LLC 0.13% of their portfolio LAJOLLA, CA 175,000175.0k $6.4m $6.4m 0.13% New
26 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 158,711158.7k $5.8m $5.8m 0.00% Reduced -13.9k -13,930
27 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 156,633156.6k $5.7m $5.7m 0.00% Reduced -228.0k -227,952
28 Portman Square Capital LLP 0.87% of their portfolio London, X0 140,000140.0k $5.1m $5.1m 0.87% Reduced -172.0k -172,000
29 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 126,369126.4k $4.6m $4.6m 0.00% Reduced -10.9k -10,903
30 TPG GP A, LLC 0.09% of their portfolio FORT WORTH, TX 125,000125.0k $4.6m $4.6m 0.09% Reduced -294.5k -294,500
31 RATIONAL ADVISORS, INC. 0.38% of their portfolio San Juan, PR 112,700112.7k $4.1m $4.1m 0.38% Added +41.4k +41,400
32 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 112,079112.1k $4.1m $4.1m 0.00% Reduced -21.1k -21,108
33 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 77,85077.8k $2.9m $2.9m 0.00% Added +77.2k +77,236
34 Penserra Capital Management LLC 0.02% of their portfolio ORINDA, CA 72,50872.5k $2.7m $2.7m 0.02% Added +13.4k +13,403
35 LAFFER TENGLER INVESTMENTS, INC. 0.32% of their portfolio Scottsdale, AZ 68,50568.5k $2.5m $2.5m 0.32% Reduced -1.1k -1,105
36 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio PHILADELPHIA, PA 66,00066.0k $2.5m $2.5m 0.00% New
37 WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio CHICAGO, IL 63,96764.0k $2.3m $2.3m 0.03% Added +27.3k +27,320
38 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 50,00050.0k $1.9m $1.9m 0.01% New
39 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 40,43240.4k $1.5m $1.5m 0.01% Reduced -5.9k -5,910
40 LORD, ABBETT & CO. LLC 0.00% of their portfolio JERSEY CITY, NJ 34,37034.4k $1.3m $1.3m 0.00% Reduced -393 -393
41 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 28,00028.0k $1.0m $1.0m 0.00% Unchanged
42 AEGON USA Investment Management, LLC 0.59% of their portfolio CEDAR RAPIDS, IA 22,70022.7k $824.7k $824.7k 0.59% Unchanged
43 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 20,70720.7k $758.9k $758.9k 0.00% Reduced -9.3k -9,318
44 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 17,49317.5k $641.0k $641.0k 0.00% New
45 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 14,15714.2k $518.9k $518.9k 0.00% Added +8.6k +8,590
46 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 11,57711.6k $554.4k $554.4k 0.00% New
47 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 10,94410.9k $401.1k $401.1k 0.00% Reduced -22.2k -22,210
48 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 9,5509.6k $350.0k $350.0k 0.00% Unchanged
49 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 8,5698.6k $314.0k $314.0k 0.00% Added +5.9k +5,936
50 Central Pacific Bank - Trust Division 0.02% of their portfolio HONOLULU, HI 5,9405.9k $217.7k $217.7k 0.02% Unchanged
51 Virtus Fixed Income Advisers, LLC 0.09% of their portfolio HARTFORD, CT 3,6003.6k $135.5k $135.5k 0.09% New
52 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3,2403.2k $118.7k $118.7k 0.00% Added +910 +910
53 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 3,0103.0k $110.3k $110.3k 0.01% Reduced -500 -500
54 WHITTIER TRUST CO 0.00% of their portfolio SOUTH PASADENA, CA 2,4002.4k $94.1k $94.1k 0.00% Unchanged
55 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,6311.6k $59.8k $59.8k 0.00% Reduced -233 -233
56 VIRTUS ADVISERS, LLC 0.01% of their portfolio HARTFORD, CT 850850 $32.0k $32.0k 0.01% Unchanged
57 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 260260 $9.5k $9.5k 0.00% New
58 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 254254 $9.3k $9.3k 0.00% Unchanged
59 Prosperity Bancshares Inc 0.00% of their portfolio Houston, TX 135135 $4.9k $4.9k 0.00% Unchanged
60 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 5959 $2.2k $2.2k 0.00% Unchanged