Franklin Resources’s Ares Management Corporation 6.75% Series B Mandatory Convertible Preferred Stock ARES.PRB Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2025 Q2	$194M	Sell	3,661,097 -31,649	-0.9%	-$1.68M	0.05%	319
2025 Q1	$178M	Buy	3,692,746 +274,075	+8%	+$13.2M	0.05%	322
2024 Q4	$188M	Buy	+3,418,671	New	+$188M	0.05%	313