Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. All performance assumes the reinvestment of dividends and capital gains. Click on the following links for the standardized performance current to the most recent quarter and month end periods for the funds and for their annual expense ratios: Ariel Fund and Ariel Appreciation Fund.

In this segment, John W. Rogers, Jr. discusses some of the stocks held in Ariel Fund and Ariel Appreciation Fund. Portfolio holdings are subject to change, and the stocks mentioned do not represent all of the holdings in the funds. Performance of any single stock is no indication of the performance of the other portfolio holdings or of the funds. Click here for the most recent holdings in the Ariel Fund. Click here for the most recent holdings in the Ariel Appreciation Fund. Click here for the assets under management for Ariel Investments, LLC as of the most recent quarter end. Click here for a fund prospectus.