N-PORT filing recap · September 2024

What did Ariel International Fund buy in September 2024?

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

$231.57M

Positions

Estimated turnover

37.9%

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 International Fund opened new positions in Tesco, Publicis Groupe, and Taiwan Semiconductor Manufacturing, while exiting its Vanguard FTSE Developed Markets ETF. The fund trimmed a wide range of European and Asian holdings, including Michelin, Check Point Software, Sanofi, Fresenius Medical Care, KBC Group, and BNP Paribas. It also added to Bandai Namco, Axa, Deutsche Boerse, Secom, and Emaar Properties.

New positions

TSCDYTesco Plc$7.80Mreported value+1.63M shares PUBPublicis Groupe SA$3.50Mreported value+32.0K shares 2330Taiwan Semiconductor Manufacturing$514.1Kreported value+17.0K shares

Increased positions

7832Bandai Namco Holdings Inc.$10.98Mreported value+75.4K shares+18.6%SIESiemens Aktiengesellschaft$10.35Mreported value+2.3K shares+4.8%AXAHYAxa SA$9.91Mreported value+133.5K shares+107.3%DB1Deutsche Boerse AG$6.85Mreported value+12.5K shares

Reduced positions

MLCompagnie Generale Des Etablissements Michelin Sca$15.62Mreported value-57.4K shares-13.0%CHKPCheck Point Software Technologies Ltd.$13.97Mreported value-17.1K shares-19.1%SNYSanofi$13.26Mreported value-24.1K shares-17.2%FMSFresenius Medical Care AG$10.58Mreported value-59.9K shares

Exited positions

VEAVanguard Ftse Developed Markets ETF$749.4Kprior reported value-15.2K shares-100.0%