13F filing recap · Q4 2015

What did Ariel Investments buy in Q4 2015?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Ariel-managed account, including accounts that belong to no fund below.

Stock value

$8.34B

Positions

196

Estimated turnover

12.1%

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

MSGSMadison Square Garden Sports Corp.$93.03Mreported value+574.9K shares MSGNMsg Networks Inc$69.79Mreported value+3.36M shares RYAAYRyanair Holdings Plc$9.45Mreported value+109.3K shares IWNiShares Trust$2.89Mreported value+31.4K shares EWLIshares, Inc.$1.76Mreported value+56.8K shares IWCiShares Trust$1.31Mreported value+18.2K shares SKULSkullcandy, Inc.$1.20Mreported value+254.1K shares CSWCsw Industrials, Inc.$1.16Mreported value+30.8K shares CFRCullen/frost Bankers, Inc.$996.0Kreported value+16.6K shares NVSNovartis AG$969.0Kreported value+11.3K shares CAJPYCanon Inc.$521.0Kreported value+17.3K shares DFSDiscover Financial Services$476.0Kreported value+8.9K shares TMToyota Motor Corp/$359.0Kreported value+2.9K shares IWSiShares Trust$340.0Kreported value+5.0K shares BTUSDBt Group Plc$218.0Kreported value+6.3K shares

Increased positions

LAZLazard, Inc.$249.36Mreported value+24.5K shares+0.4%LHLabcorp Holdings Inc.$207.14Mreported value+47.9K shares+2.9%BRSWQBristow Group Inc.$204.76Mreported value+1.01M shares+14.7%KMTKennametal Inc$203.57Mreported value+990.0K shares

Reduced positions

FAFFirst American Financial Corporation$220.57Mreported value-790.2K shares-11.4%SJMThe J. M. Smucker Company$218.77Mreported value-161.2K shares-8.3%IPGThe Interpublic Group of Companies, Inc.$215.59Mreported value-973.5K shares-9.5%JLLJones Lang Lasalle Incorporated$181.44Mreported value

Exited positions

MSGNMsg Networks Inc.$120.64Mprior reported value-1.67M shares-100.0%HCCHCC Insurance Holdings Inc$13.04Mprior reported value-168.3K shares-100.0%RYAAYRyanair Holdings Plc$8.95Mprior reported value-114.3K shares-100.0%AVHIAv Homes, Inc.$8.17Mprior reported value-604.1K shares