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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Oct 9, 2025 | Heartland Value Plus Fund | 8.5% | 1.4% | BRC, MTRN, PBH, PHIN | Buybacks, dividends, earnings growth, small caps, valuation | Heartland notes that small-cap earnings have turned positive for the first time since 2021, driven by improving demand and policy easing. The fund emphasizes companies executing self-help strategiescutting costs, repurchasing shares, and raising dividendsto enhance margins and shareholder value. Strong contributors included Brady Corp, Phinia, and Materion, reflecting disciplined capital allocation amid rate cuts. | PBH MTRN PHIN BRC |
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| 2025 Q3 | Oct 21, 2025 | Brandes Small Cap Value Fund | 11.2% | 16.6% | GLOB, PBH | digital transformation, Health Care, industrials, small caps, value | Small-cap value stocks advanced strongly, led by health care and industrial holdings like Elanco and Park Aerospace. Managers added to undervalued names such as Prestige Consumer Healthcare and Globant, citing stable cash flows and long-term growth in digital transformation. The fund remains overweight industrials and defensives amid attractive valuations. | PBH GLOB PBH GLOB |
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| 2025 Q3 | Oct 15, 2025 | Ariel Appreciation Fund | 9.5% | - | FI, GS, KMX, KN, MAT, PBH, PSKY, REZI, SPHR | Artificial Intelligence, consumer tech, Fintech, Mid Caps, Value Investing | Ariel Appreciation emphasizes AI-related growth, fintech innovation, and value recovery among mid-cap holdings. Top contributors included Resideo, Sphere Entertainment, and Knowles, while cyclicals like CarMax weighed on results. The team expects undervalued mid-cap equities to outperform as valuations normalize and active management captures AI and consumer technology tailwinds. | PBH FISV MAT KMX KN SPHR REZI |
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| 2025 Q3 | Oct 15, 2025 | Ariel Focus Fund | 20.8% | - | AJG, B, FI, MOS, PBH, REZI, SLB, ZIMV | Artificial Intelligence, Fintech, gold, small caps, Value rotation | Ariel Focus outperformed driven by small-cap and value holdings like Resideo and Barrick Gold, while adding exposure to fintech and insurance. The manager emphasizes AI-driven productivity and margin expansion potential across its holdings. With small caps still trading at steep discounts, the fund sees attractive upside as valuation gaps normalize. | FISV AJG SLB PBH |
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| 2025 Q3 | Oct 15, 2025 | Ariel Fund | 12.4% | - | MANU, MAT, PBH, PSKY, REZI, SPHR | Artificial Intelligence, Media, small caps, Smart homes, Value rotation | Ariel highlights strong small-cap performance amid AI-driven enthusiasm and resilient U.S. growth. The fund benefited from holdings like Sphere Entertainment and Resideo Technologies, while focusing on undervalued cyclicals positioned for an earnings catch-up. It sees opportunity in media innovation and smart home technology as valuations for small caps remain deeply discounted. | View | |
| 2025 Q3 | Oct 15, 2025 | Ariel Small Cap Value Strategy | 12.7% | - | BCO, KMT, MAT, PBH, REZI, SPHR, ZBRA | consumer, cyclicals, industrials, small caps, valuation | Ariel sees improving prospects for small caps and cyclical stocks amid Fed easing, strong earnings, and valuation gaps versus large caps. The strategy favors pro-cyclical exposure in undervalued businesses across industrials, logistics, and consumer sectors while maintaining discipline in capital deployment. The managers expect small-cap valuations to normalize as market breadth improves and economic resilience persists. | KMT US SPHR US BCO US REZI US |
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| 2023 Q3 | Mar 10, 2023 | Ariel Fund | 12.1% | 0.0% | ATGE, GNRC, IPG, LESL, MAT, PBH, SPHR | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Nov 29, 2025 | Fund Letters | Bryan Barrett | Prestige Consumer Healthcare | Health Care | Pharmaceuticals | Bull | NYSE | Acquisitions, brands, cashflow, consumer, healthcare, OTC, pharmaceuticals | View Pitch |
| Nov 29, 2025 | Fund Letters | Bradford Evans | Prestige Consumer Healthcare Inc. | Health Care | Pharmaceuticals | Bull | NYSE | Earnings-recovery, Integration, Inventory, Margins, OTC, supply chain, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | John W. Rogers | Prestige Consumer Healthcare Inc. | Health Care | Pharmaceuticals | Bull | NYSE | Acquisitions, healthcare, innovation, OTC, pharmaceuticals | View Pitch |
| Nov 29, 2025 | Fund Letters | Charles K. Bobrinskoy | Prestige Consumer Healthcare Inc. | Health Care | Pharmaceuticals | Bull | NYSE | acquisition, buybacks, cash flow, Consumer-health, growth, pharmaceuticals, valuation | View Pitch |
| Nov 29, 2025 | Fund Letters | Bryan Barrett | Prestige Consumer Healthcare | Health Care | Pharmaceuticals | Bull | NYSE | Acquisitions, brands, cashflow, consumer, healthcare, OTC, pharmaceuticals | View Pitch |
| 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. | ||||||||