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Q3 2025 Investor Letters

Ariel Fund Posts 12.39% Q3 Return, Spotlights Mattel’s Margin Progress and Manchester United’s Upgraded Outlook

The investor letter credits a friendlier rate backdrop for powering gains.

Vulcan Reopens Fiserv and Exits CBRE as Aristotle Reviews Corteva Split and Highlights Wells Fargo Turning Point

Macquarie Large Cap Growth Fund Trails Benchmark as Tesla Omission Weighs on Q3