Ariel Investments
Ariel Emerging Markets Value ex-China
Emerging markets Value
Dec 2025 → Mar 2026
Our archive holds 2 letters from this strategy, behind 5 investment theses and positions in 11 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in 2 years · follow all of Ariel Investments for every strategy.
What it bought and sold
Also during the quarter, we initiated a new position in Kia Corporation, a leading Korean automaker.
- ExitedOTP Bank NyrtMar 2026
we exited the following names on valuation:
- ExitedFPT CorporationMar 2026
we exited the following names on valuation:
- AddedColumbia EM Core ex-China ETFMar 2026
We also added Columbia EM Core ex-China ETF as a cash alternative.
In addition, we sold our position in Hyundai Marine & Fire Insurance Co., Ltd. to reallocate capital toward more compelling opportunities.
SK Hynix Inc., a leading pure play producer of memory semiconductors, was the top contributor during the period following a strong quarterly earnings beat.
we exited the following names on valuation:
Given the appreciation and realization of our investment thesis, we exited the position during the quarter.
Also held
Its investment theses
- SK Hynix Inc.Mar 2026SK Hynix is a leading memory maker benefiting from AI-driven demand, HBM leadership, and favorable supply-demand dynamics that support margins and secular growth.
- Hero MotoCorp Ltd.Dec 2025Hero MotoCorp is India's leading two-wheeler manufacturer poised to benefit from entry-level demand recovery, GST cuts, and a refreshed scooter and EV product cycle.
- Copa Holding SADec 2025Copa Holding is a leading Latin American airline with a cost-efficient hub-and-spoke model, industry-leading profitability, attractive valuation, and capacity growth via new aircraft.
- GAIL IndiaDec 2025GAIL is India's leading gas transmission and marketing company with growing chemicals capacity and tailwinds from lower global gas prices and recovering demand.
- National Bank of Greece SADec 2025National Bank of Greece is a leading Greek bank with strengthening loan growth, robust capital, and undervalued shares not reflecting positive trends.