Ares Management (ARES): affiliated holders disclose 32.4% beneficial stake in Class A shares

Rhea-AI Filing Summary

Ares Partners Holdco LLC and Ares Owners Holdings L.P. report beneficial ownership of Ares Management Corporation Class A common stock. Each reporting person has shared voting and dispositive power over 107,110,305 Class A Shares, representing 32.4% of the Class A common stock on an as-converted basis.

The reported position consists of 4,281,729 Class A Shares and 102,828,576 AOG Units of Ares Holdings L.P., which are convertible one-for-one into Class A Shares, subject to certain restrictions. The ownership percentage is calculated using 227,372,228 Class A Shares outstanding as of June 30, 2026, increased by the Class A Shares issuable upon conversion of the AOG Units.

The filing notes that, when aggregating Class A Shares beneficially owned by the individual board members who manage Ares Partners, total beneficial ownership would be 112,079,605 Class A Shares, including 2,125,000 Class A Shares issuable upon vesting of restricted stock units, representing 33.7% of the outstanding Class A Shares on an as-converted and RSU basis.

Key Figures

Beneficial ownership (as-converted shares): 107,110,305 Class A Shares Ownership percentage: 32.4% Shares outstanding: 227,372,228 Class A Shares +5 more

8 metrics

Beneficial ownership (as-converted shares) 107,110,305 Class A Shares Shares over which Ares Partners and Ares Owners have shared voting and dispositive power

Ownership percentage 32.4% Percent of Ares Management Class A Shares on as-converted basis

Shares outstanding 227,372,228 Class A Shares Outstanding as of June 30, 2026, used for ownership calculations

AOG Units held 102,828,576 AOG Units Partnership units of Ares Holdings L.P. convertible one-for-one into Class A Shares

Direct Class A Shares held 4,281,729 Class A Shares Class A common stock held by Ares Owners

Aggregate board-related holdings 112,079,605 Class A Shares Includes AOG Units and RSUs associated with board members, 33.7% of Class A Shares

RSU-related issuable shares 2,125,000 Class A Shares Shares issuable to certain Board Members upon vesting of RSUs

Board-related ownership percentage 33.7% Ownership including AOG Units and RSUs on an as-converted basis

Key Terms

AOG Units, beneficially owned, restricted stock units, shared voting power, +1 more

5 terms

AOG Units financial

"102,828,576 partnership units of Ares Holdings L.P., which are convertible one for one into Class A Shares"

beneficially owned financial

"the Class A Shares held by Ares Owners, if aggregated with other Class A Shares beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

restricted stock units financial

"2,125,000 Class A Shares issuable to certain of the Board Members upon the vesting of restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

shared voting power financial

"Shared Voting Power 107,110,305.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 107,110,305.00"

FAQ

How many Ares Management (ARES) shares do the reporting entities beneficially own?

The reporting entities beneficially own 107,110,305 Class A Shares of Ares Management on an as-converted basis, including 4,281,729 Class A Shares and 102,828,576 AOG Units convertible one-for-one into Class A Shares, subject to restrictions.

What percentage of Ares Management (ARES) Class A stock is held by the reporting persons?

The reporting persons disclose beneficial ownership of 32.4% of Ares Management Class A Shares. This percentage is based on 227,372,228 shares outstanding as of June 30, 2026, plus 102,828,576 shares issuable upon conversion of AOG Units held by Ares Owners.

What are AOG Units referenced in the Ares Management (ARES) Schedule 13G/A?

AOG Units are partnership units of Ares Holdings L.P. that are convertible one-for-one into Class A Shares of Ares Management, subject to certain restrictions. Ares Owners holds 102,828,576 AOG Units included in the reported beneficial ownership.

How much stock could Ares Management (ARES) board members beneficially own including RSUs and AOG Units?

Aggregating holdings associated with the board members, beneficial ownership would total 112,079,605 Class A Shares, including 102,828,576 shares from AOG Units and 2,125,000 shares issuable upon RSU vesting, representing 33.7% of outstanding Class A Shares.

Do the reporting entities have sole or shared voting power over Ares Management (ARES) shares?

The reporting entities report 0 shares with sole voting power and 107,110,305 shares with shared voting power. They also report 0 shares with sole dispositive power and 107,110,305 shares with shared dispositive power over Ares Management Class A Shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/13/2026 - 09:58 PM Accepted by SEC EDGAR 08/13/2026 - 09:58 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 11)

Ares Management Corporation

(Name of Issuer)

Class A common stock, par value $0.01 per share

(Title of Class of Securities)

03990B101

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 03990B101

1

Names of Reporting Persons

Ares Partners Holdco LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 107,110,305.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 107,110,305.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

107,110,305.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

32.4 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The reported securities represent (i) 4,281,729 shares of Class A common stock, par value $0.01 per share, of the Issuer ("Class A Shares") and (ii) 102,828,576 partnership units of Ares Holdings L.P., which are convertible one for one into Class A Shares, subject to certain restrictions ("AOG Units"). The percent of class is calculated based on 227,372,228 Class A Shares outstanding on June 30, 2026, based on information provided by the Issuer, as increased by 102,828,576 Class A Shares issuable upon conversion of 102,828,576 AOG Units held by Ares Owners (as defined herein).

SCHEDULE 13G

CUSIP Number(s): 03990B101

1

Names of Reporting Persons

Ares Owners Holdings L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 107,110,305.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 107,110,305.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

107,110,305.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

32.4 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The reported securities represent (i) 4,281,729 Class A Shares and (ii) 102,828,576 Class A Shares issuable upon conversion of 102,828,576 AOG Units. The percent of class is calculated based on 227,372,228 Class A Shares outstanding on June 30, 2026, based on information provided by the Issuer, as increased by 102,828,576 Class A Shares issuable upon conversion of 102,828,576 AOG Units held by Ares Owners (as defined herein).

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Ares Management Corporation
(b)	Address of issuer's principal executive offices: 1800 Avenue of the Stars, Suite 1400, Los Angeles, CA 90067
Item 2.
(a)	Name of person filing: This statement is filed by the entities and persons listed below, each of whom is referred to herein as a "Reporting Person" and together as the "Reporting Persons": 1. Ares Partners Holdco LLC ("Ares Partners") 2. Ares Owners Holdings L.P. ("Ares Owners")
(b)	Address or principal business office or, if none, residence: 1800 Avenue of the Stars, Suite 1400 Los Angeles, California 90067
(c)	Citizenship: See response to row 4 on each cover page hereto.
(d)	Title of class of securities: Class A common stock, par value $0.01 per share
(e)	CUSIP No.: 03990B101
Item 4.	Ownership
(a)	Amount beneficially owned: See response to row 9 on each cover page hereto. The securities reported on this Schedule 13G include an aggregate of 4,281,729 Class A Shares held by Ares Owners and an aggregate of 102,828,576 AOG Units held by Ares Owners. The general partner of Ares Owners is Ares Partners. Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (each a "Board Member" and collectively, the "Board Members"). Mr. Ressler generally has veto authority over decisions of the Board Members. Based on information reported in Statements on Schedule 13G filed by, or information received from, the Board Members, the Class A Shares held by Ares Owners, if aggregated with other Class A Shares beneficially owned by each of the individual Board Members, would equal 112,079,605 Class A Shares in the aggregate, which includes (i) 102,828,576 shares that may be acquired upon the exchange of AOG Units held by Ares Owners and (ii) 2,125,000 Class A Shares issuable to certain of the Board Members upon the vesting of restricted stock units ("RSUs"), representing an aggregate of 33.7% of the outstanding Class A Shares (based on 227,372,228 outstanding Class A Shares as of June 30, 2026, as increased by (i) 102,828,576 Class A Shares issuable in respect of 102,828,576 AOG Units held by Ares Owners and (ii) 2,125,000 Class A Shares issuable to certain of the Board Members upon the vesting of RSUs).
(b)	Percent of class: See response to row 11 on each cover page hereto. The percentage reflected on the cover pages to this Schedule 13G is calculated based on an aggregate of 227,372,228 Class A Shares outstanding as of June 30, 2026, as reported by the Issuer, as increased by 102,828,576 Class A Shares issuable in respect of 102,828,576 AOG Units held by Ares Owners.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See response to row 5 on each cover page hereto.
	(ii) Shared power to vote or to direct the vote: See response to row 6 on each cover page hereto.
	(iii) Sole power to dispose or to direct the disposition of: See response to row 7 on each cover page hereto.
	(iv) Shared power to dispose or to direct the disposition of: See response to row 8 on each cover page hereto.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Exhibit A.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Ares Partners Holdco LLC

Signature:	/s/ Anton Feingold
Name/Title:	Anton Feingold/Authorized Signatory
Date:	08/13/2026

Ares Owners Holdings L.P.

Signature:	/s/ Anton Feingold
Name/Title:	Anton Feingold/Authorized Signatory from Ares Partners Holdco LLC, its General Partner
Date:	08/13/2026

Exhibit Information

https://www.sec.gov/Archives/edgar/data/1620263/000110465919008758/a19-4665_8ex99d1.htm