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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 15, 2024 | Ariel Appreciation Fund | 9.9% | 0.0% | BIO, KN, LAZ, MSGE, NVST, NVT, WBA | - | View | ||
| 2024 Q1 | Apr 15, 2024 | Ariel Small Cap Value Strategy | 10.1% | 0.0% | CG, DNB, LAZ, LIND, MGPI, NVT, OSW, SPHR | - | View | ||
| 2022 Q3 | Oct 26, 2022 | O’Keefe Stevens Advisory, Inc | 0.0% | 0.0% | LAZ, SRG | - | View | ||
| 2025 Q3 | Oct 15, 2025 | O’Keefe Stevens Advisory, Inc | - | - | CS CN, DFIN, GLW, LAZ, MODG | Artificial Intelligence, Bitcoin, Data centers, semiconductors, Value Investing | The fund highlights AI and crypto-driven market euphoria pushing equities to record highs but cautions against speculative excess. It notes massive AI infrastructure spending approaching $600 billion, often debt-financed, which raises sustainability concerns. The managers prefer capital-light enablers such as semiconductor and fiber component suppliers while maintaining valuation discipline. | View | |
| 2025 Q4 | Jan 26, 2026 | Cambiar SMID Fund | 1.6% | 0.0% | ACVA, ALGN, BOKF, COO, EEFT, FNF, GOOGL, JBHT, LAZ, MAS, NVDA, WFC, WSC | AI, Credit Stress, financials, healthcare, Quality, small caps, value | The market has priced in a near-flawless AI future for years, but sentiment is shifting as investors become more scrutinizing. Only two of the Mag7 outperformed in 2025, and the market is now more discerning about how AI investments will translate into financial returns. Increased debt financing for AI capex creates vulnerability to credit tightening. The fourth quarter saw a reversal in the growth versus value trade, with traditional value sectors like Healthcare and Financials performing well while Mag7 largely lagged. The fund's quality bias and valuation sensitivity were out of step with a market prioritizing higher-beta momentum stocks. Value stocks offer attractive return potential going forward. Small cap stocks trailed larger cap counterparts for the year despite posting respectable 12.8% gains. Companies with negative income outperformed by wide margins in 2025, creating challenges for quality-focused strategies. The market environment paralleled 2021's speculative period with little regard for valuation or earnings. Corporate bankruptcies spiked in 2025, highlighting growing financial pressure amid elevated borrowing costs. Middle and lower income consumers are increasingly stretched with high credit card balances and subprime auto loan delinquencies at highest levels since 2008. Rising unemployment likely to amplify these pressures. | COO |
View |
| 2024 Q3 | Sep 30, 2024 | Ariel Small Cap Value Strategy | 10.1% | 0.0% | BRC, CLB, JLL, LAZ, LESL, LIND, MHK, WEX | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Ariel Fund | 12.1% | 0.0% | BIO, CLB, GNTX, JLL, LAZ, LESL, MHK, MIDD, SRCL | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Ariel Appreciation Fund | 9.9% | 0.0% | CBRE, CLB, LAZ, NOV, SCHW, SWK | - | View | ||
| 2022 Q1 | Mar 31, 2022 | Ariel Fund | 12.1% | 0.0% | CLB, LAZ, MAS, MHK, MSGE, PARA, TGNA | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||