Ariel Appreciation Fund

Scorecard
3 / 5 Stars
Lipper
5 4 2 3 1
Zacks Investment Research
4 (Sell)
Standard & Poor's
3 / 5 Stars
TheStreet.com
C+ (Hold)

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 3.74 3.74
Stocks 96.26 96.26
Bonds 0.0 0.0
Other 0.0 0.0
Foreign Bonds 0.0 0.0
Foreign Stocks 0.0 0.0
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 03.31.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 03.31.2014

Ticker YTD Return % % Net Assets
Lazard Ltd LAZ 14.61 4.45
Western Union Company WU 2.2 4.32
First American Financial Corp FAF 1.95 3.97
Stanley Black & Decker Inc SWK 10.25 3.47
Bristow Group, Inc. BRS 8.1 3.44
Interpublic Group of Companies, Inc IPG 11.19 3.31
Northern Trust Corporation NTRS 5.25 3.26
International Game Technology IGT -10.85 3.17
Hospira, Inc. HSP 28.05 3.16
Aflac Inc AFL -5.09 3.08

See Also:

Top Ariel Investments, LLC Funds

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