These are Ariel Focus Fund's own holdings, not the firm's. Percentages are of the stock positions in its latest filing — the fund's cash and bonds are not included. A concentrated, non-diversified fund that runs the firm's best value ideas through a single book, it is the all-cap edge of the Ariel range and its most pointed bet on the same philosophy. Where the parent's flagship fund parks in undervalued small- and mid-sized companies, this fund holds a smaller number of high-conviction names and is free to roam the whole market spectrum — from small-caps to large-caps — while keeping the same patient, long-term approach of buying quality businesses at a discount and holding them for years. Because the fund is non-diversified, a handful of ideas can carry far more weight in the portfolio than they would in a broad stock fund, which is precisely the point: to let its strongest findings count for more. The fund launched on June 30, 2005, under Ariel Investments, the Chicago firm John W. Rogers Jr. founded in 1983, and it has been managed since its inception by Charles K. Bobrinskoy, the firm's vice chairman and head of the investment group. Bobrinskoy built the Focus Fund as the concentrated expression of the firm's quality-at-a-discount, buy-and-hold discipline — the same philosophy as its sibling fund, delivered in a smaller, more pointed book.
$84.38M