Portfolio holdings of Charles Bobrinskoy - Ariel Focus Fund. Charles Bobrinskoy - Ariel Focus Fund stock picks:. Stock Holdings page.
Charles Bobrinskoy - Ariel Focus Fund
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NVESTMENT STRATEGY AND APPROACH
Ariel Focus Fund seeks long-term capital appreciation by investing primarily in common stocks of companies with market capitalizations in excess of $10 billion measured at the time of purchase. The Fund invests in undervalued companies that show strong potential for growth. To capture anticipated growth, the Fund holds investments for a relatively long period of time – generally five years.
Our Approach to Investing
Our investment philosophy depends upon three interrelated tenets: patience, focus, and independent thinking, which drive our contrarian approach. Our divergence from conventional wisdom allows us to add value by taking advantage of the market’s few and small pockets of inefficiency.
A Patient View
“Time is the friend of the wonderful company, the enemy of the mediocre.” — Warren Buffett
Compels us to wait for the perfect pitch—differentiated companies with strong cash flows, low debt, high quality products or services, significant barriers to entry and low reinvestment requirements.
Allows us to take a long-term view and look past short-term noise with a 3-5 year time horizon in mind.
Permits us to use the market’s short-term thinking to our advantage since our longer term approach allows us to be opportunistic as price dislocations arise.
Enables us to take our time to research a name and wait as long as necessary for it to possess the margin of safety we require.
Leads us to build extensive third party networks that inform our stock picking.
A Focused Approach
“Invest within your circle of competence.” — Warren Buffett
Allows us to build expertise and accumulate deep knowledge.
Augments our conviction, especially during crunch time when it matters most.
Enables us to learn from our mistakes and make fewer of them.
Leads us to isolate the key issues of importance to a company in the midst of the market noise.
Results in our portfolio concentration in a limited number of names and a limited number of industries.
Allows us to build and cultivate our third–party sources more effectively.
We don’t own a little bit of everything because we can’t know everything—we choose to go deep instead of broad.
A Team of Independent Thinkers
“If you buy the same stocks as everyone else, you get the same results.” — Sir John Templeton
Encourages us to buy out of favor, misunderstood and ignored stocks.
Compels us to buy when others are selling and to sell when others are buying.
Leads us to perform our own original, proprietary research.
Persuades us to be benchmark agnostic with very different industry weightings.
Permits us to take advantage of market psychology.
Ariel Focus Fund seeks long-term capital appreciation by investing primarily in common stocks of companies with market capitalizations in excess of $10 billion measured at the time of purchase. The Fund invests in undervalued companies that show strong potential for growth. To capture anticipated growth, the Fund holds investments for a relatively long period of time – generally five years.
Our Approach to Investing
Our investment philosophy depends upon three interrelated tenets: patience, focus, and independent thinking, which drive our contrarian approach. Our divergence from conventional wisdom allows us to add value by taking advantage of the market’s few and small pockets of inefficiency.
A Patient View
“Time is the friend of the wonderful company, the enemy of the mediocre.” — Warren Buffett
Compels us to wait for the perfect pitch—differentiated companies with strong cash flows, low debt, high quality products or services, significant barriers to entry and low reinvestment requirements.
Allows us to take a long-term view and look past short-term noise with a 3-5 year time horizon in mind.
Permits us to use the market’s short-term thinking to our advantage since our longer term approach allows us to be opportunistic as price dislocations arise.
Enables us to take our time to research a name and wait as long as necessary for it to possess the margin of safety we require.
Leads us to build extensive third party networks that inform our stock picking.
A Focused Approach
“Invest within your circle of competence.” — Warren Buffett
Allows us to build expertise and accumulate deep knowledge.
Augments our conviction, especially during crunch time when it matters most.
Enables us to learn from our mistakes and make fewer of them.
Leads us to isolate the key issues of importance to a company in the midst of the market noise.
Results in our portfolio concentration in a limited number of names and a limited number of industries.
Allows us to build and cultivate our third–party sources more effectively.
We don’t own a little bit of everything because we can’t know everything—we choose to go deep instead of broad.
A Team of Independent Thinkers
“If you buy the same stocks as everyone else, you get the same results.” — Sir John Templeton
Encourages us to buy out of favor, misunderstood and ignored stocks.
Compels us to buy when others are selling and to sell when others are buying.
Leads us to perform our own original, proprietary research.
Persuades us to be benchmark agnostic with very different industry weightings.
Permits us to take advantage of market psychology.
Period: Q4 2023
Portfolio date: 31 Dec 2023
No. of stocks: 27
Portfolio value: $65,884,000
History | Stock | % of Portfolio |
RecentActivity | Shares | ReportedPrice* | Value | Current Price |
+/-Reported Price |
52Week Low |
52Week High |
|
≡ | GS - Goldman Sachs Group | 6.71 | 11,454 | $385.80 | $4,419,000 | $438.24 | 13.59% | $284.98 | $442.30 | ||
≡ | SNA - Snap-On Inc. | 6.66 | Reduce 3.61% | 15,203 | $288.82 | $4,391,000 | $271.00 | -6.17% | $242.86 | $298.49 | |
≡ | BOKF - BOK Financial Corp. | 5.40 | 41,536 | $85.66 | $3,558,000 | $92.25 | 7.69% | $60.62 | $93.51 | ||
≡ | APA - APA Corp. | 5.33 | 97,865 | $35.88 | $3,511,000 | $29.26 | -18.45% | $28.90 | $44.89 | ||
≡ | MHK - Mohawk Industries | 4.98 | Add 5.21% | 31,687 | $103.51 | $3,280,000 | $116.39 | 12.44% | $76.02 | $131.19 | |
≡ | ORCL - Oracle Corp. | 4.95 | Add 5.29% | 30,936 | $105.44 | $3,262,000 | $115.85 | 9.87% | $93.49 | $132.35 | |
≡ | LMT - Lockheed Martin Corp. | 4.83 | 7,019 | $453.20 | $3,181,000 | $461.96 | 1.93% | $388.14 | $473.54 | ||
≡ | BAC - Bank of America Corp. | 4.74 | Add 12.19% | 92,757 | $33.67 | $3,123,000 | $37.23 | 10.57% | $24.59 | $38.49 | |
≡ | REZI - Resideo Technologies Inc. | 4.61 | Add 6.13% | 161,278 | $18.82 | $3,035,000 | $20.50 | 8.93% | $14.20 | $23.21 | |
≡ | MOS - Mosaic Co. | 3.84 | 70,819 | $35.72 | $2,530,000 | $28.69 | -19.68% | $27.83 | $42.07 | ||
≡ | CVX - Chevron Corp. | 3.77 | Add 232.40% | 16,673 | $149.16 | $2,487,000 | $160.25 | 7.43% | $138.11 | $168.08 | |
≡ | GOLD - Barrick Gold Corp. | 3.57 | 130,161 | $18.09 | $2,355,000 | $16.46 | -9.01% | $13.65 | $19.92 | ||
≡ | NTRS - Northern Trust Corp. | 3.55 | 27,724 | $84.37 | $2,339,000 | $84.65 | 0.33% | $60.15 | $89.25 | ||
≡ | LH - Laboratory Corp. of America Hldgs | 3.49 | 10,111 | $227.28 | $2,298,000 | $201.31 | -11.43% | $193.70 | $240.86 | ||
≡ | PHIN - PHINIA Inc. | 3.46 | Add 7.32% | 75,231 | $30.29 | $2,279,000 | $41.02 | 35.42% | $23.07 | $42.13 | |
≡ | WU - Western Union Co. | 3.46 | 190,996 | $11.92 | $2,277,000 | $13.38 | 12.25% | $10.45 | $14.00 | ||
≡ | BWA - BorgWarner Inc. | 3.28 | 60,281 | $35.85 | $2,161,000 | $36.43 | 1.62% | $29.40 | $49.57 | ||
≡ | BYD - Boyd Gaming Corp. | 3.22 | Add 30.09% | 33,843 | $62.61 | $2,119,000 | $54.11 | -13.58% | $52.14 | $72.43 | |
≡ | MSGS - Madison Square Garden Sports Corp. | 3.15 | Reduce 7.47% | 11,404 | $181.87 | $2,074,000 | $184.70 | 1.56% | $164.79 | $215.79 | |
≡ | FAF - First Amer'n Corp. | 3.02 | Reduce 7.90% | 30,858 | $64.42 | $1,988,000 | $54.37 | -15.60% | $48.67 | $64.94 | |
≡ | JNJ - Johnson & Johnson | 3.01 | 12,632 | $156.74 | $1,980,000 | $149.33 | -4.73% | $142.71 | $172.01 | ||
≡ | ZIMV - ZimVie Inc. | 2.55 | Reduce 42.82% | 94,461 | $17.75 | $1,677,000 | $15.82 | -10.87% | $6.52 | $20.91 | |
≡ | MSGE - Madison Square Garden Entertainment Corp. | 2.38 | Add 10.43% | 49,327 | $31.79 | $1,568,000 | $40.33 | 26.86% | $27.55 | $41.58 | |
≡ | KKR - KKR & Co. L.P. | 2.23 | Reduce 10.12% | 17,735 | $82.83 | $1,469,000 | $94.96 | 14.64% | $47.30 | $103.48 | |
≡ | GNRC - Generac Holdings Inc. | 1.79 | Reduce 21.89% | 9,124 | $129.22 | $1,179,000 | $133.53 | 3.34% | $79.86 | $156.95 | |
≡ | ZBRA - Zebra Technologies Corp. | 1.79 | 4,307 | $273.28 | $1,177,000 | $309.41 | 13.22% | $194.59 | $322.95 | ||
≡ | LESL - Leslie's Inc. | 0.25 | Reduce 88.24% | 24,164 | $6.91 | $167,000 | $4.70 | -31.98% | $3.79 | $11.68 |
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
Sector % analysis
Financials | 25.65 | |
Consumer Discretionary | 18.14 | |
Information Technology | 10.20 | |
Industrials | 9.44 | |
Energy | 9.10 | |
Health Care | 9.05 | |
Materials | 7.41 | |
Communication Services | 5.53 | |
Consumer Cyclical | 3.71 | |
Industrial Goods | 1.79 |
Articles & Commentaries
30 Apr 2024 Ariel's Bobrinskoy: Paramount letting its CEO go and splitting the role is not a good strategy
16 Apr 2024 Ariel Focus Fund Q1 2024 Commentary
17 Jan 2024 Ariel Focus Fund Q4 2023 Commentary
19 Oct 2023 Ariel Focus Fund Q3 2023 Commentary
24 Aug 2023 Ariel's Charlie Bobrinskoy On NVDA, ORCL, BWA
19 Jul 2023 Ariel Focus Fund Q2 2023 Commentary
19 Apr 2023 Ariel Focus Fund Q1 2023 Commentary
11 Apr 2023 Ariel Investments' Charles Bobrinskoy: The market isn't cheap but cyclicals are very attractive
19 Jan 2023 Ariel Focus Fund Q4 2022 Commentary
15 Dec 2022 Investors should be in it for the long-term going into 2023, says Ariel's Charlie Bobrinskoy
21 Oct 2022 Ariel Focus Fund Q3 2022 Commentary
12 Aug 2022 Markets are too positive about decline in inflation rates, says Ariel’s Charlie Bobrinskoy
19 Jul 2022 Ariel focus Fund Q2 2022 Commentary
27 May 2022 We're going to have inflation well above normal levels into next year, says Charlie Bobrinskoy
21 Apr 2022 Ariel focus Fund Q1 2022 Commentary
24 Feb 2022 Ariel's Charles Bobrinskoy on the markets
19 Jan 2022 Ariel Focus Fund Q4 2021 Commentary