Charles River Laboratories International, INC.

• AI Ariel Investments Ariel Fund ↗ Ariel Fund added to its case for Zebra Technologies, Charles River Laboratories and Bio-Rad after improving results, guidance and operational actions. It exited Leslie’s and sold newly received ADI Global Distribution and Midera Food Processing shares to redeploy capital into higher-conviction holdings amid concerns over leverage, liquidity and weakening operations. Quarter Ended September 30, 2026 BIO $9.7BCRL $15BLESL $1.6M +3
• BA Broyhill Asset Management The Broyhill Letter 2026.Q2 ↗ Broyhill transfers ownership from Chris Pavese to Patrick Wells and Matt McLean while retaining its investment process and client relationships. The portfolio avoided direct semiconductor exposure, exited Accenture, HubSpot and Intuit, and added or expanded positions including ServiceNow, First Citizens BancShares, Nestlé, Masco, Sotera Health and IQVIA on company-specific catalysts. second quarter 2026 0QR4 ACN $138BFCNCA $23B +6
• BA Broyhill Asset Management The Broyhill Letter Q2 2025 ↗ Broyhill’s equity strategy added to Dollar Tree after tariff-driven selling and trimmed Philip Morris while retaining it as its largest holding. It shifted part of Avantor into Thermo Fisher, increased Fiserv after its selloff, and initiated IQVIA. The firm consolidated offshore exposure into Noble and favors undervalued smaller, international, and healthcare businesses. 2025.Q2 AVTR $11BDLTR $23BIQV $45B +2

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