Ariel Appreciation Fund

Scorecard
4 / 5 Stars
Lipper
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Zacks Investment Research
3 (Hold)
Standard & Poor's
3 / 5 Stars
TheStreet.com
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Fund Holdings

The fund’s portfolio remains fairly concentrated with about 35 to 40 stocks. “We don’t think it makes any sense to own more of our 102nd best idea,” Fidler says. “We’d much rather focus on 35 to 40 stocks that not only do we think we can understand well, but also that we think there’s actually an opportunity in those stocks.” Historically, management has tended to hunt for deals in the consumer discretionary and financial services area, but continues to avoid the energy, commodities, and industrials sectors. “Those [involve] trading calls,” Fidler says. “Over the long term, they don’t really earn attractive returns. You have to trade them properly.” As of the end of the first quarter, the fund was most heavily invested in the consumer discretionary sector, followed by financial services and health care.

Asset Allocation

% Long % Net
Cash 4.86 4.86
Stocks 93.8 93.8
Bonds 0.0 0.0
Other 1.34 1.34
Foreign Bonds 0.0 0.0
Foreign Stocks 0.0 0.0
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 12.31.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 12.31.2013

Ticker YTD Return % % Net Assets
Lazard Ltd LAZ -1.74 4.48
First American Financial Corp FAF -7.3 4.13
Western Union Company WU -3.83 3.73
Jones Lang LaSalle, Inc. JLL 18.81 3.44
Interpublic Group of Companies, Inc IPG -2.18 3.35
International Game Technology IGT -19.0 3.35
St Jude Medical, Inc. STJ 8.15 3.3
Hospira, Inc. HSP 2.62 3.29
Illinois Tool Works Inc ITW -2.66 3.23
Aflac Inc AFL -3.61 3.2

See Also:

Top Ariel Investments, LLC Funds