LongAPASep 2026
APA Corporation
Ariel sees APA as an oil and gas producer whose free cash flow is improving faster than investors appreciate. Second-quarter production exceeded guidance and U.S. oil volumes…
Ariel Focus Fund
Concentrated, fundamental U.S. equity value investing in competitively advantaged businesses trading below long-term intrinsic value.7 published ideas
Ariel Focus Fund is a non-diversified U.S. equity value fund advised by Ariel Investments LLC. It emphasizes sound balance sheets, cash generation and companies whose underlying earnings power appears underappreciated by investors. The strategy tolerates near-term volatility to buy businesses at discounts to intrinsic value.
Ideas from Ariel Focus Fund
LongCVXSep 2026
Chevron Corporation
Ariel believes Chevron has greater earnings and cash-generation capacity after integrating Hess. Higher oil prices, improved refining margins and record U.S. production have…
LongFDSSep 2026
FactSet Research Systems, Inc.
Ariel sees a durable recurring-revenue franchise in FactSet because subscription demand and client retention remain strong. An earnings beat reflected annual-subscription…
LongPHINSep 2026
PHINIA Inc.
Ariel continues to favor PHINIA despite a quarter of mixed results and lower profitability guidance. Revenue and free cash generation remained solid, although margin pressure…
LongBYDSep 2026
Boyd Gaming Corporation
Ariel believes Boyd Gaming is stronger than recent Las Vegas weakness suggests. Lower occupancy and room rates and construction disruption have weighed on the destination…
LongXRAYSep 2026
Dentsply Sirona Inc.
Ariel views Dentsply Sirona as an operational turnaround whose share price reflects near-term weakness more than its eventual earnings potential. Demand for implants…
LongADIGSep 2026
ADI Global Distribution, Inc.
Ariel acquired ADI Global Distribution after its spin-off from Resideo, treating share-price weakness as an entry point. ADI is a scale leader in security, residential…
Letters covered
- Ariel Focus Fund - Q3 2026 Quarterly CommentarySeptember 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.