Ariel Investments
Ariel International DM EM
Emerging markets
Mar 2026 → Mar 2026
Our archive holds 1 letter from this strategy, behind 2 investment theses and positions in 17 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Ariel Investments for every strategy.
What it bought and sold
While we exited the position during the quarter, we continue to believe that, as demand in these end markets improves, Syensqo can outperform peers and benefit from valuation upside.
We added MediaTek Inc., a global semiconductor designer, to gain additional exposure to the fast-growing AI and high- performance connectivity markets.
- AddedBank of the Philippine IslandsMar 2026
We added Bank of the Philippine Islands, a leading commercial bank, where we believe improving profitability should result from a strategic pivot toward higher-margin retail and small- and medium-sized enterprise lending.
We purchased producer of a wide range of steel products and tubes, Salzgitter AG as we see compelling upside in a company highly leveraged to a recovery in both the German and broader European economies.
We also initiated a position in Hongfa Technology Co., Ltd., a global supplier of electrical components specializing in relays, following a recent share price pullback resulting from precious metal cost inflation concerns.
We bought British multinational retailer, Marks & Spencer Group plc because we believe the market is overlooking the meaningful progress the company has made in reshaping its brand and strengthening its core businesses.
We bought Greece-based financial services and asset management company, Eurobank SA because we believe it is poised to significantly benefit from Greece’s economic recovery.
We initiated a position in Daifuku Co. Ltd. which is a leader in logistics automation and cleanroom systems.
We added ENGIE SA, a globally integrated utility with operations spanning power generation, regulated networks and energy retail.
We purchased leader in life sciences, healthcare and agriculture, Bayer AG, during the quarter.
Finally, we bought Xiamen Faratronic Co., Ltd., a global leader in film capacitors with strong positions across electric vehicles (EVs) and renewable energy applications.
Also held
Its investment theses
- Xiamen Faratronic Co., Ltd.Mar 2026Xiamen Faratronic Co., Ltd. is a film capacitor leader poised to benefit from electrification with scale advantages and improving margins.
- Bank of the Philippine IslandsMar 2026Bank of the Philippine Islands is shifting to higher-margin segments with strong digital capabilities in an underpenetrated market, supporting profitability and capital returns.