Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
Ariel Fund returned 13.59% in Q2 2026, underperforming benchmarks despite strong market gains. The fund added entertainment positions MSGE and SPHR on resilient demand and venue expansion opportunities, initiated healthcare and insurance positions HAE and RLI, while Core Laboratories and Carlyle Group detracted on energy headwinds and private credit concerns. The manager maintains valuation discipline and long-term focus amid concentrated market leadership and geopolitical uncertainty.
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Ariel Fund returned 13.59% in Q2 2026, underperforming benchmarks despite strong market gains. The fund added entertainment positions MSGE and SPHR on resilient demand and venue expansion opportunities, initiated healthcare and insurance positions HAE and RLI, while Core Laboratories and Carlyle Group detracted on energy headwinds and private credit concerns. The manager maintains valuation discipline and long-term focus amid concentrated market leadership and geopolitical uncertainty.
