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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"Ariel Focus Fund surged +20.76% in Q3 2025, heavily outperforming key indices, while actively repositioning the portfolio through three new initiations and three total liquidations."
Ariel Focus Fund delivered an exceptional return of +20.76% in the third quarter of 2025, significantly outperforming the Russell 1000 Value Index (+5.33%) and the S&P 500 Index (+8.12%). Resideo Technologies (REZI) was the quarter's top contributor, while Mosaic Co. (MOS) was the biggest detractor. During the quarter, the fund active-managed its portfolio by initiating new positions in Arthur J. Gallagher & Co. (AJG), Fiserv (FI), and Prestige Consumer Healthcare (PBH), while liquidating holdings in ZimVie (ZIMV), Core Laboratories (CLB), and Bio-Rad Laboratories (BIO). The advisor remains constructive on the macroeconomic backdrop and sees strong relative value in pro-cyclical, small-cap, and undervalued segments.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
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