N-PORT filing recap · September 2024

What did Ariel Focus Fund buy in September 2024?

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

$67.55M

Positions

Estimated turnover

16.8%

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.

Period in review

Ariel Focus Fund opened a new position in Bio-Rad Laboratories and exited Western Union. The fund substantially added to J. M. Smucker and dramatically increased its stake in Affiliated Managers Group. It trimmed Oracle and Goldman Sachs, while reducing Madison Square Garden Sports and Generac Holdings significantly.

New positions

BIOBio-Rad Laboratories, Inc.$843.8Kreported value+2.5K shares

Increased positions

SJMThe J. M. Smucker Company$2.87Mreported value+7.8K shares+48.9%APAApa Corporation$2.83Mreported value+11.7K shares+11.3%CVXChevron Corp$2.75Mreported value+2.9K shares+18.6%AMGAffiliated Managers Group, Inc.$2.09Mreported value+7.3K shares

Reduced positions

MHKMohawk Industries, Inc.$4.51Mreported value-1.9K shares-6.3%ORCLOracle Corporation$4.46Mreported value-3.6K shares-12.2%SNASnap-On Inc$4.01Mreported value-496 shares-3.5%GSThe Goldman Sachs Group, Inc.$3.98Mreported value-1.6K shares

Exited positions

WUThe Western Union Company$2.08Mprior reported value-170.5K shares-100.0%