N-PORT filing recap · September 2023

What did Ariel Focus Fund buy in September 2023?

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

Stock value

$60.23M

Positions

Estimated turnover

17.2%

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

PHINPhinia Inc.$1.88Mreported value+70.1K shares CVXChevron Corp$845.8Kreported value+5.0K shares KVUEKenvue Inc.$563.2Kreported value+28.0K shares

Increased positions

SNASnap-On Inc$4.02Mreported value+415 shares+2.7%MHKMohawk Industries, Inc.$2.58Mreported value+3.1K shares+11.6%WUThe Western Union Company$2.52Mreported value+29.8K shares+18.5%REZIResideo Technologies, Inc.$2.40Mreported value+10.3K shares

Reduced positions

ORCLOracle Corporation$3.11Mreported value-1.6K shares-5.1%BWABorgwarner Inc$2.43Mreported value-25.2K shares-29.5%JNJJohnson & Johnson$1.97Mreported value-2.7K shares-17.4%NTRSNorthern Trust Corp$1.93Mreported value-1.2K shares

Exited positions

BNYThe Bank of New York Mellon Corporation$1.81Mprior reported value-40.6K shares-100.0%LAZLazard, Inc.$1.41Mprior reported value-44.0K shares-100.0%ZBHZimmer Biomet Holdings, Inc.$418.3Kprior reported value-2.9K shares-100.0%SPHRSphere Entertainment Co.$176.6Kprior reported value