13F filing recap · Q2 2019

What did Ariel Investments buy in Q2 2019?

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

$7.96B

Positions

153

Estimated turnover

10.3%

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

BXBlackstone Inc.$34.52Mreported value+777.2K shares VTVanguard International Equity Index Funds$8.47Mreported value+112.7K shares IWNiShares Trust$5.76Mreported value+47.8K shares GAIAGaia, Inc$4.33Mreported value+571.5K shares EQCEquity Commonwealth$1.17Mreported value+36.0K shares ENZBEnzo Biochem Inc$1.09Mreported value+323.6K shares DRADDigirad Corporation$280.0Kreported value+40.5K shares

Increased positions

PMPhilip Morris International Inc.$276.49Mreported value+256.8K shares+7.9%LAZLazard, Inc.$197.37Mreported value+322.3K shares+5.9%BIDUBaidu, Inc.$193.80Mreported value+142.3K shares+9.4%GILDGilead Sciences, Inc.$168.42Mreported value+40.7K shares

Reduced positions

MSFTMicrosoft Corporation$305.86Mreported value-326.5K shares-12.5%FAFFirst American Financial Corporation$215.98Mreported value-196.2K shares-4.7%KMTKennametal Inc$194.74Mreported value-70.4K shares-1.3%SJMThe J. M. Smucker Company$177.13Mreported value-90.1K shares

Exited positions

BXUSDThe Blackstone Group L.p.$31.96Mprior reported value-914.0K shares-100.0%BRSWQBristow Group Inc.$4.80Mprior reported value-4.33M shares-100.0%AFHIFAtlas Financial Holdings, Inc.$4.15Mprior reported value-1.69M shares-100.0%ISCAInternational Speedway Corporation$3.93Mprior reported value