{
  "@context": "https://orbyd.app/schemas/dossier.v1.json",
  "ticker": "ARES",
  "name": "Ares Management Corporation",
  "url": "https://orbyd.app/dossiers/ARES/",
  "json_url": "https://orbyd.app/dossiers/ARES.json",
  "status": "DORMANT",
  "current_conviction": "MEDIUM",
  "graded_conviction": null,
  "archetype": {
    "code": "a1",
    "n": 1
  },
  "current_thesis": "",
  "invalidation_trigger": "A weekly close below $125 unwinds the entire +9.5% three-month advance into the 2026-08-07 close of $136.85; secondary break if the ~2026-10-28 Q3 print shows a second sequential rise in underperforming investments after the Q2 uptick disclosed 2026-07-29.",
  "catalyst_date": null,
  "outcome": "OPEN",
  "outcome_date": null,
  "invalidation_fired": null,
  "themes": [
    "biofuels-low-carbon",
    "crypto-exchanges-financials",
    "ai-datacenter-infrastructure"
  ],
  "tags": [],
  "sources": [],
  "notes": [
    "Headline $1.29 is after-tax realized income per Class A share; Q2 2026 GAAP EPS was $0.49. The two series diverge materially every quarter.",
    "Ares Capital Corp (ARCC) is a separate NYSE-listed BDC managed by Ares; headlines about the two entities are frequently conflated.",
    "A 6.75% Series B mandatory convertible preferred is outstanding ($0.84375 quarterly dividend); conversion adds Class A shares at the mandatory date.",
    "Multi-class structure: Class A and non-voting common trade; the per-share figures in the release are Class A. Voting power sits outside the traded class.",
    "Common dividend record date 2026-09-16 ($1.35, payable 2026-09-30); the price series adjusts around the ex-date."
  ],
  "body_markdown": "",
  "first_seen": "2026-08-04",
  "last_analyzed": "2026-08-08T07:09:25+00:00",
  "last_synthesized": "2026-08-08",
  "last_update_source": "watchlist_research",
  "license": "Content © orbyd. Cite the canonical URL."
}