Skip to contentHome page Seeking Alpha - Power to InvestorsOct 28, 2026, 2:50 AM ETCRL, HAE, BIO, NCLH, RCL, OSW, MIDD, MFP, ADIG, REZI, BIO.B, REZI.WIAriel Investments40 FollowersCharles River Laboratories advanced during the quarter following a strong earnings report and an increase to full-year guidance.We exited the NCLH position during the quarter and redeployed proceeds into Royal Caribbean Group.Middleby completed the spin-off of Midera Food Processing, announced plans to exit its underperforming business, and continued buying back shares.We acquired ADI Global Distribution following its spin-off from our existing holding, Resideo Technologies.Pavel Kot/iStock via Getty ImagesThe following segment was excerpted from the Ariel Appreciation Fund Q3 2026 Commentary.Ariel Appreciation Fund returned -3.90% during the quarter, trailing both the Russell Midcap Value Index and the Russell Midcap Index, which returned -1.98% and -3.00%, respectively.This article was written byAriel Investments40 FollowersAriel Investments, LLC is a global value-based asset management firm founded four decades ago in 1983. Ariel is headquartered in Chicago, with offices in New York City, San Francisco and Sydney, Australia. Ariel serves individual and institutional investors through five no-load mutual funds and eleven separate account strategies. Our four core values are: Active Patience®, Independent Thinking, Focused Expertise and Bold Teamwork. Ariel Investments models these behaviors in everything they do.Note: This account is not managed or monitored by Ariel Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Ariel Investments' official channels.CommentsTo ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.Is this happening to you frequently? Please report it on our feedback forum.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.