13F filing recap · Q1 2016

What did Ariel Investments buy in Q1 2016?

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

$8.30B

Positions

194

Estimated turnover

18.8%

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

WTWWillis Towers Watson Plc$39.43Mreported value+332.3K shares HLIHoulihan Lokey, Inc.$20.88Mreported value+838.6K shares CEBCeb Inc.$18.02Mreported value+278.5K shares BWABorgwarner Inc$4.38Mreported value+114.2K shares TSTenaris SA$3.34Mreported value+135.0K shares RELYQReal Industry Inc.$3.04Mreported value+348.9K shares CRAICra International, Inc.$2.89Mreported value+147.3K shares ARCBArcbest Corporation$2.37Mreported value+109.6K shares WMARWest Marine, Inc.$2.09Mreported value+230.2K shares DGIIDigi International Inc.$1.86Mreported value+197.6K shares STRTStrattec Security Corp$1.64Mreported value+28.5K shares PXDPioneer Natural Resources Co$1.44Mreported value+10.2K shares UNPUnion Pacific Corp$1.10Mreported value+13.8K shares MOVMovado Group Inc$1.03Mreported value+37.4K shares ICEIntercontinental Exchange, Inc.$963.0Kreported value+4.1K shares DEODiageo Plc$292.0Kreported value+2.7K shares

Increased positions

LAZLazard, Inc.$251.50Mreported value+941.8K shares+17.0%KMTKennametal Inc$244.94Mreported value+288.4K shares+2.7%BRSWQBristow Group Inc.$185.44Mreported value+1.90M shares+24.0%AXEAnixter International Inc.$172.99Mreported value+93.0K shares

Reduced positions

FAFFirst American Financial Corporation$227.95Mreported value-162.8K shares-2.7%LHLabcorp Holdings Inc.$185.93Mreported value-88.0K shares-5.3%IPGThe Interpublic Group of Companies, Inc.$185.74Mreported value-1.17M shares-12.6%SJMThe J. M. Smucker Company$169.03Mreported value

Exited positions

BLTBlount International, Inc.$73.94Mprior reported value-7.54M shares-100.0%MEGMedia General Inc$43.67Mprior reported value-2.70M shares-100.0%TWWillis Towers Watson Plc$40.62Mprior reported value-316.2K shares-100.0%WMTWalmart Inc.$14.35Mprior reported value-234.2K shares