In this segment, John Rogers discusses certain individual securities, which at the time of the interview were held in Ariel Fund and Ariel Appreciation Fund. Portfolio holdings are subject to change. The performance of any single portfolio holding is no indication of the performance of other portfolio holdings of Ariel Fund or Ariel Appreciation Fund.  Click here for the most recent holdings for Ariel Fund and Ariel Appreciation Fund.

Investing in small- and mid-cap stocks is more risky and more volatile than investing in large cap stocks. The Funds concentrate a significant portion of their assets in the financial services and consumer discretionary sectors, and their performance may suffer if these sectors underperform the overall stock market. Attempting to purchase with a margin of safety on price cannot protect investors from the volatility associated with stocks, incorrect assumptions or estimations on our part, declining fundamentals or external forces.

Performance discussed represents past performance.  Past performance does not guarantee future results. Click on the following links for performance data current to the most recent month-end for the funds: Ariel Fund, Ariel Appreciation Fund.

Click here for a fund prospectus.