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Ariel Investments

Mar 2025 → Sep 2026 · Publishes quarterly · 16 funds

Our archive holds 40 letters from Ariel Investments, behind 84 investment theses and positions in 124 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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40
Letters
124
Companies
79
Moves
84
Theses

16 strategies

Ariel Investments publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

What they bought and sold · 79 moves

  • ExitedFiserv Inc.
    September 2026
    “In our mid cap portfolio, we maintained our position in ADI Global Distribution and chose to exit Midera Food Processing, Inc., as well as Fiserv Inc. (FISV) to pursue other opportunities.”
    Read the letter
  • TrimmedMidera Food Processing, Inc.
    September 2026
    “That said, we chose to exit ADI Global Distribution and Midera Food Processing in our small cap value concentrated portfolio to redeploy the proceeds into higher-conviction investments.”
    Read the letter
  • ExitedLeslie's, Inc.
    September 2026
    “Conversely, we exited Leslie's, Inc. (LESL) as continued operating deterioration, elevated leverage and rising liquidity concerns weakened our conviction in the investment case.”
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  • TrimmedADI Global Distribution, Inc.
    September 2026
    “That said, we chose to exit ADI Global Distribution and Midera Food Processing in our small cap value concentrated portfolio to redeploy the proceeds into higher-conviction investments.”
    Read the letter
  • New positionADI Global Distribution, Inc.
    September 2026
    “Also during the quarter, we acquired ADI Global Distribution, Inc. (ADIG) following its spin-off from our existing holding, Resideo Technologies, Inc. (REZI).”
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  • ExitedStanley Black & Decker
    June 2026
    “Stanley Black & Decker Sold in order to redeploy capital into higher conviction opportunities.”
    Read the letter
  • ExitedThe Hackett Group, Inc.
    June 2026
    “We also exited niche IT consulting firm Hackett Group, Inc. (HCKT) to pursue other opportunities.”
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  • New positionHaemonetics Corporation
    June 2026
    “Also during the quarter, we initiated a position in Haemonetics Corporation (HAE), a developer and distributor of a broad portfolio of hematology products and solutions.”
    Read the letter
  • ExitednVent Electric plc
    June 2026
    “We successfully sold out of global leader in electrical protection and connection solutions, nVent Electric plc (NVT) as the name grew beyond the upper limit of Ariel Small Cap Value’s capitalization range in the quarter.”
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  • ExitedKennametal, Inc.
    June 2026
    “Kennametal, Inc. Sold on valuation.”
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  • AddedMasco Corporation
    June 2026
    “We added Masco Corporation (MAS), the world’s largest manufacturer of plumbing fixtures and a leading provider of paint in the United States.”
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  • ExitedADT, Inc.
    June 2026
    “ADT, Inc. Sold in order to redeploy capital into higher conviction opportunities.”
    Read the letter
  • ExitedMolson Coors Beverage Company
    June 2026
    “Molson Coors Beverage Company Sold in order to redeploy capital into higher conviction opportunities.”
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  • ExitedParamount Skydance Corporation
    June 2026
    “Paramount Skydance Corporation Sold as the name approached our estimate of private market value.”
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  • New positionSalzgitter AG
    March 2026
    “Finally, we added producer of a wide range of steel products and tubes, Salzgitter AG as we see compelling upside in a company highly leveraged to a recovery in both the German and broader European economies.”
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  • ExitedSyensqo SA
    March 2026
    “While we exited the position during the quarter, we continue to believe that, as demand in these end markets improves, Syensqo can outperform peers and benefit from valuation upside.”
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  • New positionBayer AG
    March 2026
    “We purchased leader in life sciences, healthcare and agriculture, Bayer AG, during the quarter.”
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  • New positionKia Corporation
    March 2026
    “Also during the quarter, we initiated a new position in Kia Corporation, a leading Korean automaker.”
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  • New positionDaifuku Co. Ltd.
    March 2026
    “We initiated a position in Daifuku Co. Ltd. which is a leader in logistics automation and cleanroom systems.”
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  • ExitedOTP Bank Nyrt
    March 2026
    “we exited the following names on valuation:”
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  • New positionFactSet Research Systems, Inc.
    March 2026
    “Also during the quarter, we initiated a position in FactSet Research Systems (FDS), a leading provider of information and analytics to the global financial services industry.”
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  • ExitedCompanhia Brasileira de Alumínio
    March 2026
    “Given the appreciation and realization of our investment thesis, we exited the position during the quarter.”
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  • ExitedFPT Corporation
    March 2026
    “we exited the following names on valuation:”
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  • AddedEurobank SA
    March 2026
    “We bought Greece-based financial services and asset management company, Eurobank SA because we believe it is poised to significantly benefit from Greece’s economic recovery.”
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  • New positionMarks & Spencer Group plc
    March 2026
    “We also initiated a position in British multinational retailer, Marks & Spencer Group plc because we believe the market is overlooking the meaningful progress the company has made in reshaping its brand and strengthening its core businesses.”
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  • AddedInfineon Technologies AG
    March 2026
    “We repurchased Infineon Technologies, a global leader in power semiconductors.”
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  • ExitedCopa Holdings S.A.
    March 2026
    “By comparison, we exited the following names on valuation:  Brazil’s integrated aluminum producer, Companhia Brasileira de Alumínio  Copa Holdings S.A., one of the leading airlines in the Americas  FPT Corporation, a Vietnam based conglomerate focused on technology, telecommunications, and private education  OTP Bank Nyrt, a leading retail and corporate bank in Central and Eastern Europe”
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  • New positionEurobank SA
    March 2026
    “We bought Greece-based financial services and asset management company, Eurobank SA because we believe it is poised to significantly benefit from Greece’s economic recovery.”
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  • AddedFifth Third Bancorp
    March 2026
    “We also added diversified financial services company, Fifth Third Bancorp (FITB), during the quarter because we believe the market is undervaluing the strategic and financial potential of its merger with Comerica.”
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  • AddedMediaTek Inc.
    March 2026
    “We bought MediaTek Inc., a global semiconductor designer, to gain additional exposure to the fast-growing AI and high- performance connectivity markets.”
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Showing the 30 most recent of 79 recorded moves.

Companies held · 124

Every company Ariel Investments has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 84

  • Haemonetics Corporation
    September 2026

    Haemonetics develops hematology products and solutions with improving profitability and plasma-franchise momentum supporting long-term growth.

    Read the full thesis
  • ADI Global Distribution, Inc.
    September 2026

    ADI Global Distribution is a market-share leader in security and smart-home distribution with scale advantages, growth potential, and strong cash generation.

    Read the full thesis
  • Generac Holdings Inc.
    September 2026

    Generac Holdings makes power generation equipment and is gaining exposure to data center power demand while preserving resilience in its core residential business.

    Read the full thesis
  • Masco Corporation
    June 2026

    Masco Corporation is a branded plumbing and paint leader with scale, strong brand equity, and margin expansion potential.

    Read the full thesis
  • Sphere Entertainment Co.
    June 2026

    Sphere Entertainment Co. is leveraging strong demand and a potential global network of venues to drive margin expansion and long-term growth.

    Read the full thesis
  • Haemonetics Corporation
    June 2026

    Haemonetics Corporation provides hematology and plasma collection solutions that should benefit from demographics, rising plasma demand, and healthcare innovation.

    Read the full thesis
  • Salzgitter AG
    March 2026

    Salzgitter AG is a steel producer with margin expansion potential, valuable strategic assets, and leverage to a European recovery and low‑carbon incentives, leaving core operations undervalued.

    Read the full thesis
  • Marks & Spencer Group plc
    March 2026

    Marks & Spencer Group plc is a revitalized UK retailer with stronger operations, a healthier balance sheet, and improving capital return potential, offering turnaround-driven upside.

    Read the full thesis
  • Xiamen Faratronic Co., Ltd.
    March 2026

    Xiamen Faratronic Co., Ltd. is a film capacitor leader poised to benefit from electrification with scale advantages and improving margins.

    Read the full thesis
  • ENGIE SA
    March 2026

    ENGIE SA is a diversified utility with increased exposure to stable regulated earnings via UKPN, plus upside from storage, deleveraging, and renewables.

    Read the full thesis
  • Eurobank SA
    March 2026

    Eurobank SA is positioned to benefit from Greece’s recovery with multi-year loan growth, wealth management focus, regional acquisitions, solid capital, and competitive ROE.

    Read the full thesis
  • Kuaishou Technology
    March 2026

    Kuaishou Technology is leveraging a large engaged user base and AI-driven ad/e-commerce tools to enhance monetization, strengthen competitive positioning, and expand margins over time.

    Read the full thesis

Showing the 48 most recent of 84 theses. Browse them by company to see the rest.

Letter archive · 40

2026

2025

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