v3.26.1
EQUITY AND REDEEMABLE INTEREST (Tables)
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Schedule of Stock by Class
The following table presents the changes in each class of common stock:

Class A Common StockNon-Voting Common StockClass B Common StockClass C Common StockTotal
Balance as of December 31, 2025218,465,429 3,489,911 1,000 105,079,121 327,035,461 
Issuance of common stock, net of unvested share forfeitures105,992 — — — 105,992 
Exchanges of common stock750,827 — — (750,827)— 
Vesting of restricted unit awards, net of shares withheld for tax2,639,448 — — — 2,639,448 
Balance as of March 31, 2026221,961,696 3,489,911 1,000 104,328,294 329,780,901 
Schedule of Ownership Interests
The following table presents each partner’s AOG Units and corresponding ownership interest in each of the AOG entities, as well as its daily average ownership of AOG Units in each of the AOG entities:
Daily Average Ownership
As of March 31, 2026As of December 31, 2025Three months ended March 31,
AOG UnitsDirect Ownership InterestAOG UnitsDirect Ownership Interest20262025
Ares Management Corporation225,451,607 68.36%221,955,340 67.87%68.13%65.77%
Ares Owners Holdings, L.P.104,328,294 31.64105,079,121 32.1331.8734.23
Total329,779,901 100.00 %327,034,461 100.00 %
Schedule of Redeemable Interests
The following table summarizes the activities associated with the redeemable interest in AOG entities:
Total
Balance as of December 31, 2024
$23,496 
Net income316 
Currency translation adjustment, net of tax198 
Distributions(300)
Balance as of March 31, 2025
23,710 
Net loss(274)
Currency translation adjustment, net of tax699 
Balance as of June 30, 2025
24,135 
Net income1,797 
Currency translation adjustment, net of tax(182)
Balance as of September 30, 2025
25,750 
Net loss(490)
Currency translation adjustment, net of tax36 
Balance as of December 31, 2025
25,296 
Net loss(1,113)
Currency translation adjustment, net of tax(7)
Distributions(297)
Balance as of March 31, 2026
$23,879 

The following table summarizes the activities associated with the redeemable interest in Consolidated Funds:
Total
Balance as of December 31, 2024$550,700 
Change in redemption value5,698 
Balance as of March 31, 2025556,398 
Redemptions from Class A ordinary shares of Ares Acquisition Corporation II (“AAC II”) (subsequently renamed to Kodiak AI, Inc. (Nasdaq: KDK))(7,143)
Change in redemption value8,795 
Balance as of June 30, 2025558,050 
Redemptions from Class A ordinary shares of AAC II(502,360)
Change in redemption value7,214 
Deconsolidation of AAC II(62,904)
Balance as of September 30, 2025
$— 

As of March 31, 2026 and December 31, 2025, there was no redeemable interest in Consolidated Funds.