Ariel Investments
Ariel Investments Small Cap Value Strategy
US Small-cap Value
Dec 2025 → Jun 2026
Our archive holds 3 letters from this strategy, behind 9 investment theses and positions in 24 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in 2 years — follow all of Ariel Investments for every strategy.
What it bought and sold
We also exited niche IT consulting firm Hackett Group, Inc. (HCKT) to pursue other opportunities.
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.
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.
- ExitedKennametal, Inc.Jun 2026
By comparison, we exited specialty cutting tool insert maker, Kennametal, Inc. (KMT) on valuation.
We added Masco Corporation (MAS), the world’s largest manufacturer of plumbing fixtures and a leading provider of paint in the United States.
Also held
- Sphere Entertainment Company
- Sphere Entertainment Co.
- Prestige Consumer Healthcare Inc.
- OneSpaWorld Holdings, Ltd.
- Core Laboratories Inc.
- Brink's Company
- Lindblad Expeditions Holdings, Inc.
- Jones Lang LaSalle, Inc.
- Affiliated Managers Group, Inc.
- Madison Square Garden Entertainment Corporation
- Knowles Corporation
- Resideo Technologies, Inc.
- First American Financial Corporation
- Core Laboratories NV
- Prestige Consumer Healthcare, Inc.
- Charles River Laboratories International, Inc.
- Generac Holdings, Inc.
- Norwegian Cruise Line Holdings, Ltd.
- WEX, Inc.
Its investment theses
- Sphere Entertainment Co.Jun 2026Sphere Entertainment Co. is leveraging strong demand and a potential global network of venues to drive margin expansion and long-term growth.
- Haemonetics CorporationJun 2026Haemonetics Corporation provides hematology and plasma collection solutions that should benefit from demographics, rising plasma demand, and healthcare innovation.
- Masco CorporationJun 2026Masco Corporation is a branded plumbing and paint leader with scale, strong brand equity, and margin expansion potential.
- Generac Holdings, Inc.Dec 2025Generac Holdings, Inc. is a leading power generation equipment maker with secular tailwinds in backup power and data centers supporting long-term growth and cash flow.
- RLI Corp.Dec 2025RLI Corp. is a specialty insurer with niche expertise and disciplined underwriting that supports resilient profitability and long-term earnings growth.
- FactSet Research Systems, Inc.Dec 2025FactSet Research Systems, Inc. provides deeply embedded financial data with high switching costs and scalable datasets, with AI concerns seen as overblown and efficiency gains ahead.
- Affiliated Managers Group, Inc.Dec 2025Affiliated Managers Group, Inc. benefits from strong demand for tax-aware and alternative strategies, strategic partnerships, and disciplined capital allocation to drive earnings growth.
- Zebra Technologies CorporationDec 2025Zebra Technologies Corporation is a wide-moat barcode and data capture leader whose brand, distribution and innovation drive industry-leading profitability and secular growth from efficiency trends.
- Sphere Entertainment Co.Dec 2025Sphere Entertainment Co. is a live entertainment platform with scalable venues and growing utilization that supports a compelling long-term growth opportunity.