Largest Shared Position

Jones Lang LaSalle Incorporated (JLL) represents the largest overlapping position between Ariel Appreciation Fund and Third Avenue Management based on the latest reported SEC Form 13F filings for the quarter ended June 30, 2026. The combined disclosed value of JLL positions reported by both investment firms is approximately $338.56M, reflecting overlapping institutional exposure to Jones Lang LaSalle Incorporated.

Consensus Smart Money Signals

Shared holdings between Ariel Appreciation Fund and Third Avenue Management may indicate overlapping long-term investment themes or broader smart money consensus toward specific companies and sectors. SEC Form 13F filings report positions, not investment intent.

• Strongest overlap by reported value: JLL ($338.56M combined).
• Highest average portfolio weight in overlap: JLL (2.4% conviction score).
• Largest estimated mark-to-market gain since filing: JLL ($33.02M vs reported combined value, where EOD data is available).

Historical Overlap Trend

The overlap between Ariel Appreciation Fund and Third Avenue Management was unchanged between Q1 2001 and Q2 2001, with 2 shared holdings in the latest period ($403.14M combined reported value) versus 2 in the prior period ($375.68M).