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John Rogers Comments on Graham Holdings Co.

- By Holly LaFon

We did not purchase any new holdings in Ariel Fund during the quarter, but we did exit our position in Graham Holdings Co. (NYSE:GHC) as the stock price fully reflected our long-standing view of the sum of its parts. Since our initial purchase over 7 years ago, the company has successfully monetized several of its businesses, including The Washington Post, Cable ONE, broadcast television stations and most recently Kaplan Education. Including the spin-off of Cable ONE in 2015, our investment has generated an impressive +176% total return over our holding period.


From John Rogers (Trades, Portfolio)' Ariel Funds 2017 shareholder letter.
This article first appeared on GuruFocus.