13F filing recap · Q3 2019

What did Ariel Investments buy in Q3 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

$7.51B

Positions

144

Estimated turnover

10.1%

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

WAASAquaventure Holdings Limited$2.18Mreported value+112.3K shares

Increased positions

PMPhilip Morris International Inc.$285.62Mreported value+240.8K shares+6.8%LAZLazard, Inc.$206.19Mreported value+152.2K shares+2.7%IPGThe Interpublic Group of Companies, Inc.$195.65Mreported value+1.82M shares+25.0%BIDUBaidu, Inc.$193.40Mreported value+230.8K shares

Reduced positions

MSFTMicrosoft Corporation$300.51Mreported value-121.7K shares-5.3%FAFFirst American Financial Corporation$221.71Mreported value-264.8K shares-6.6%SJMThe J. M. Smucker Company$166.55Mreported value-23.9K shares-1.6%GILDGilead Sciences, Inc.$157.85Mreported value-2.4K shares

Exited positions

CLBCore Laboratories Inc.$23.47Mprior reported value-449.0K shares-100.0%SOSouthern Co$15.45Mprior reported value-279.4K shares-100.0%OXYOccidental Petroleum Corporation$14.74Mprior reported value-293.2K shares-100.0%BSMXBanco Santander Mexico S.a., Institucion De Banca Multiple, Grupo Financiero Santander Mexico$12.95Mprior reported value