N-PORT filing recap · December 2025

What did Ariel Focus Fund buy in December 2025?

Reported stock-position changes between this filing and the previous one. These are Ariel Focus Fund's own holdings, not the firm's.

Stock value

$74.35M

Positions

Estimated turnover

10.3%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Period in review

Ariel Focus Fund opened new positions in Fiserv and Adt Inc. during December. The fund trimmed Barrick Mining Corp, Affiliated Managers Group, Johnson & Johnson, Resideo Technologies, and Generac Holdings, while adding to Prestige Consumer Healthcare and Arthur J. Gallagher & Co. It also made smaller reductions in Bok Financial Corp and Lockheed Martin, and substantially cut Madison Square Garden Entertainment.

New positions

FISVFiserv Inc$1.93Mreported value+28.8K shares ADTAdt Inc.$771.6Kreported value+95.6K shares

Increased positions

PBHPrestige Consumer Healthcare Inc.$4.16Mreported value+13.5K shares+25.2%AJGArthur J. Gallagher & Co.$1.86Mreported value+834 shares+13.1%

Reduced positions

BBarrick Mining Corp$4.29Mreported value-13.7K shares-12.2%AMGAffiliated Managers Group, Inc.$4.10Mreported value-2.2K shares-13.3%BOKFBok Financial Corp$4.09Mreported value-1.2K shares-3.5%JNJJohnson & Johnson$4.07Mreported value-4.2K shares