Capital World Investors holds 5.3% of Ares Management (NYSE: ARES) — 11.8M shares

Rhea-AI Filing Summary

Ares Management Corp. ownership update: Capital World Investors reports beneficial ownership of 11,795,806 shares, representing 5.3% of Ares' 220,902,613 shares believed outstanding as stated in the filing dated 03/31/2026. The filing lists sole voting and sole dispositive power over these shares.

Insights

Institutional Ownership Analyst

Large passive stake disclosed by a major investment manager.

Capital World Investors reports holding 11,795,806 shares ( 5.3% ) of Ares, based on 03/31/2026 figures. The filing states both sole voting and sole dispositive power for the shares held.

Such a Schedule 13G filing typically indicates passive investment intent under reporting rules; subsequent changes in percentage or voting arrangements would appear in amended filings.

Key Figures

Shares beneficially owned: 11,795,806 shares Percent of class: 5.3% Shares outstanding (basis): 220,902,613 shares +2 more

5 metrics

Shares beneficially owned 11,795,806 shares reported beneficial ownership

Percent of class 5.3% of 220,902,613 shares believed outstanding

Shares outstanding (basis) 220,902,613 shares shares believed to be outstanding as stated in filing

Report date 03/31/2026 position as of date

Filing signature date 05/13/2026 signed by Jae Won Chung

Key Terms

Schedule 13G, beneficial ownership, sole dispositive power, sole voting power

4 terms

Schedule 13G regulatory

"Capital World Investors is deemed to be the beneficial owner of 11,795,806 shares or 5.3%"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficial ownership financial

"CWI is deemed to be the beneficial owner of 11,795,806 shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 11,795,806"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

sole voting power regulatory

"Sole power to vote or to direct the vote: 11,795,806"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Ares Management Corp.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

03990B101

(CUSIP Number)

03/31/2026

(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

Capital World Investors

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 11,795,806.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,795,806.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,795,806.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Ares Management Corp.
(b)	Address of issuer's principal executive offices: 1800 Ave Of The Stars, Suite 1400, Los Angeles, CA 90067
Item 2.
(a)	Name of person filing: Capital World Investors
(b)	Address or principal business office or, if none, residence: 333 SOUTH HOPE STREET, 55TH FLOOR, LOS ANGELES, CALIFORNIA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 03990B101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 11,795,806 ** **Capital World Investors ("CWI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CWI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital World Investors." CWI is deemed to be the beneficial owner of 11,795,806 shares or 5.3% of the 220,902,613 shares believed to be outstanding.
(b)	Percent of class: 5.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11,795,806
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 11,795,806
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

Capital World Investors

Signature:	Jae Won Chung
Name/Title:	Senior Vice President and Associate General Counsel, Capital Research and Management Company
Date:	05/13/2026

FAQ

What stake does Capital World Investors report in ARES?

Capital World Investors reports beneficial ownership of 11,795,806 shares, equal to 5.3% of the company. The filing ties this percentage to 220,902,613 shares believed to be outstanding as of 03/31/2026.

Does Capital World Investors have voting control over its ARES shares?

Yes. The filing states Capital World Investors has sole voting power and sole dispositive power over 11,795,806 shares, meaning they can vote and direct disposition of those shares.

What form was filed to disclose this ARES holding?

The disclosure was made on a Schedule 13G, which reports beneficial ownership by investors that generally claim passive intent under ownership reporting rules. The filing lists the position as of 03/31/2026.

Who filed the Schedule 13G for ARES on behalf of Capital World Investors?

The filing was submitted by Capital World Investors, a division of Capital Research and Management Company, and signed by Jae Won Chung, Senior Vice President and Associate General Counsel, on 05/13/2026.

How often must changes to this ARES stake be reported?

Material changes to beneficial ownership are reported via amendments to the Schedule 13G or other Section 13 filings. The Schedule 13G here reflects the position as of 03/31/2026 and would be updated if ownership or voting power changes.