N-PORT filing recap · March 2020

What did Ariel Appreciation Fund buy in March 2020?

Reported stock-position changes between this filing and the previous one. These are Ariel Appreciation Fund's own holdings, not the firm's.

Stock value

$845.45M

Positions

Estimated turnover

20.1%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

SCHWSchwab Charles Corp$15.19Mreported value+451.7K shares ZBRAZebra Technologies Corporation$9.33Mreported value+50.8K shares MTNVail Resorts, Inc.$8.61Mreported value+58.3K shares GSThe Goldman Sachs Group, Inc.$8.19Mreported value+53.0K shares NVSTEnvista Holdings Corporation$5.69Mreported value+381.1K shares

Increased positions

NTRSNorthern Trust Corp$44.20Mreported value+19.0K shares+3.4%IPGThe Interpublic Group of Companies, Inc.$40.17Mreported value+43.0K shares+1.8%MATMattel Inc /de/$33.74Mreported value+1.07M shares+38.9%BWABorgwarner Inc$29.14Mreported value+71.7K shares

Reduced positions

PGRProgressive Corp/oh/$36.93Mreported value-87.4K shares-14.9%AFLAflac Inc$33.32Mreported value-53.0K shares-5.2%SJMThe J. M. Smucker Company$33.00Mreported value-142.8K shares-32.4%LHLabcorp Holdings Inc.$31.55Mreported value-54.4K shares

Exited positions

TIFTiffany & Co.$13.16Mprior reported value-98.5K shares-100.0%