Free · no account · quoted from the filing

What changed in ARES's 10-Q

Source: 10-Q filed 2026-05-08 · compared against 10-Q 2025-11-06. Every passage below is quoted verbatim from the filing itself.

Definitions - Wealth Management Subsidiary

This filing

LC (“AMCM”)

Definitions - CLOs

This filing

refers to 'our funds' that are structured as collateralized loan obligations and similarly structured vehicles

Definitions - Consolidated Funds

This filing

refers collectively to certain Ares funds, co-investment vehicles, structured financing vehicles, CLOs and SPACs

Definitions - FRE

This filing

FRE differs from income before taxes... as FRE excludes net performance income, investment income

Definitions - Term Loan

This filing

Term Loan refers to the term loan facility of the Ares Operating Group

Definitions - Fund Reference

This filing

Unless otherwise indicated, fund references throughout this report include the main fund and related parallel funds, feeder funds and co‑investment vehicles.

What it means — the analyst reading

The passages above are the company's own words. The plain-English reading of them — what changed, why it matters, and the direction of travel — is part of the Filing Change Monitor.

See the Filing Change Monitor →

Compared from narrative excerpts (outlook, risks, MD&A) of both filings — quotes are verbatim from the new filing. Not advice. Source: company SEC filings via stockportfolio.pro. Educational, not investment advice.