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Ariel Investments, an investment management company, released its “Ariel Fund” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here.
| No. | Hedge Fund | Shares | Value | Activity | % Port |
|---|---|---|---|---|---|
| 1. | AQR Capital Management Cliff Asness | 1,829,347 | $199,947,572 | +16% | 0.1% |
| 2. | Ariel Investments John W. Rogers | 1,716,027 | $187,561,751 | +2% | 2.03% |
| 3. | Pzena Investment Management Richard S. Pzena | 1,186,400 | $129,673,520 | +1% | 0.39% |
| 4. | Steadfast Capital Management Robert Pitts | 1,040,301 | $113,704,899 | +11% | 1.95% |
| 5. | Appaloosa Management LP David Tepper | 675,000 | $73,777,500 | +318% | 1.07% |
| Insider | Price | Amount | Total Value | Remaining Holdings | Date | Form 4 |
|---|---|---|---|---|---|---|
| $136.15 | 6,484 | $882,796.60 | 149,747 | 2022-02-24 | Filing | |
| $135.05 | 3,516 | $474,835.80 | 143,263 | 2022-02-24 | Filing | |
| $93.61 | 52,500 | $4,914,320.25 | 1,160,751 | 2020-03-13 | Filing | |
| $93.61 | 52,500 | $4,914,320.25 | 1,055,751 | 2020-03-13 | Filing | |
| $99.67 | 150,000 | $14,950,185.00 | 1,108,251 | 2020-03-12 | Filing |
| Insider | Price | Amount | Total Value | Remaining Holdings | Date | Form 4 |
|---|---|---|---|---|---|---|
| $109.39 | 1,042 | $113,984.38 | 60,893 | 2026-03-10 | Filing | |
| $107.94 | 932 | $100,600.08 | 61,935 | 2026-03-09 | Filing | |
| $107.41 | 940 | $100,965.40 | 62,867 | 2026-03-09 | Filing | |
| $104.35 | 1,924 | $200,769.40 | 63,807 | 2026-03-09 | Filing | |
| $103.55 | 1,862 | $192,810.10 | 65,731 | 2026-03-09 | Filing |
| No. | Name | Shares | Value | % Port |
|---|---|---|---|---|
| 1. | 6,215,081 | $679,308,378 | 0.01% | |
| 2. | 5,399,358 | $590,149,829 | 0.01% | |
| 3. | 3,138,557 | $343,045,074 | 0.07% | |
| 4. | 2,479,351 | $270,993,267 | 0.02% | |
| 5. | 1,925,714 | $210,480,625 | 0.01% |