N-PORT filing recap · December 2025

What did Ariel Fund buy in December 2025?

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

Stock value

$2.54B

Positions

Estimated turnover

19.1%

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 Fund opened a new position in Dentsply Sirona and trimmed Madison Square Garden Entertainment, while reducing Sphere Entertainment substantially. The fund also added to Middleby and cut Janus Henderson significantly. Other notable moves included increases in Norwegian Cruise Line, Axalta Coating Systems, and Zebra Technologies, alongside reductions in Boyd Gaming, Mattel, and Bio-Rad Laboratories.

New positions

XRAYDentsply Sirona Inc.$60.27Mreported value+5.27M shares

Increased positions

CVSAAdtalem Global Education Inc$93.26Mreported value+180.1K shares+25.0%NCLHNorwegian Cruise Line Holdings Ltd.$86.53Mreported value+945.9K shares+32.3%MHKMohawk Industries, Inc.$85.81Mreported value+23.3K shares+3.1%MIDDThe Middleby Corporation$82.99Mreported value+254.6K shares

Reduced positions

MSGEMadison Square Garden Entertainment Corp.$146.44Mreported value-468.4K shares-14.7%AMGAffiliated Managers Group, Inc.$117.43Mreported value-41.6K shares-9.3%SPHRSphere Entertainment Co.$104.57Mreported value-1.33M shares-54.7%CLBCore Laboratories Inc.$99.55Mreported value