N-PORT filing recap · March 2023

What did Ariel International Fund buy in March 2023?

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

Stock value

$626.86M

Positions

Estimated turnover

6.8%

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.

New positions

ABEVAmbev S.a.$1.22Mreported value+431.4K shares BSACBanco Santander-Chile$756.3Kreported value+42.4K shares

Increased positions

SNMRYSnam S.p.a.$31.12Mreported value+370.4K shares+6.7%7270Subaru Corp$27.44Mreported value+174.7K shares+11.3%SNYSanofi$21.01Mreported value+27.5K shares+16.6%DIISYDirect Line Insurance Group Plc$19.19Mreported value+948.9K shares

Reduced positions

ADRNYKoninklijke Ahold Delhaize N.v.$36.49Mreported value-4.7K shares-0.4%PMPhilip Morris International Inc.$36.20Mreported value-85.2K shares-18.6%TRETecnicas Reunidas SA$4.10Mreported value-72.2K shares-16.2%HLNHaleon Plc$3.50Mreported value-1.17M shares

Exited positions

BICEFSociete Bic SA$958.3Kprior reported value-14.0K shares-100.0%JAPAYJapan Tobacco Inc.$738.0Kprior reported value-36.4K shares-100.0%AZNAstrazeneca Plc$489.7Kprior reported value-7.2K shares-100.0%