13F filing recap · Q2 2017

What did Ariel Investments buy in Q2 2017?

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

$8.46B

Positions

184

Estimated turnover

15.9%

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.

New positions

JHGJanus Henderson Group Plc$102.94Mreported value+3.11M shares CVSAAdtalem Global Education Inc$78.34Mreported value+2.06M shares CARSCars.com Inc.$9.05Mreported value+339.7K shares SYNCSynacor, Inc.$7.54Mreported value+2.06M shares IWMiShares Trust$6.26Mreported value+44.4K shares PPandora Media LLC$5.55Mreported value+621.9K shares AUTOAutoweb, Inc.$2.66Mreported value+210.9K shares IDCCInterdigital, Inc.$2.60Mreported value+33.6K shares DRADDigirad Corporation$2.02Mreported value+499.3K shares AYIAcuity Inc.$1.73Mreported value+8.5K shares RBCNRubicon Technology, Inc.$1.67Mreported value+180.3K shares MAMastercard Inc$906.0Kreported value+7.5K shares FFIVF5, Inc.$400.0Kreported value+3.2K shares

Increased positions

BIDUBaidu, Inc.$214.36Mreported value+87.5K shares+7.9%NOKNokia Corp$203.91Mreported value+729.8K shares+2.3%KEYSKeysight Technologies, Inc.$181.69Mreported value+944.2K shares+25.4%MSFTMicrosoft Corporation$180.23Mreported value+66.3K shares

Reduced positions

LAZLazard, Inc.$255.72Mreported value-501.4K shares-8.3%FAFFirst American Financial Corporation$234.80Mreported value-249.1K shares-4.5%LHLabcorp Holdings Inc.$213.46Mreported value-11.5K shares-0.8%KMTKennametal Inc$205.21Mreported value-294.9K shares

Exited positions

JNSJanus Capital Group Inc.$92.41Mprior reported value-7.00M shares-100.0%DVAdtalem Global Education Inc$73.76Mprior reported value-2.08M shares-100.0%TIFTiffany & Co.$32.61Mprior reported value-342.1K shares-100.0%ANSSAnsys Inc$8.77Mprior reported value-82.1K shares