  A small quantum ring with less than 10 electrons was studied by transport
spectroscopy. For strong coupling to the leads a Kondo effect is observed and
used to characterize the spin structure of the system in a wide range of
magnetic fields. At small magnetic fields Aharonov-Bohm oscillations influenced
by Coulomb interaction appear. They exhibit phase jumps by $\pi$ at the
Coulomb-blockade resonances. Inside Coulomb-blockade valleys the Aharonov-Bohm
oscillations can also be studied due to the finite conductance caused by the
Kondo effect. Astonishingly, the maxima of the oscillations show linear shifts
with magnetic field and gate voltage.
