Ariel Investments

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), John W. Rogers Jr.'s Ariel Investments reported 110 stock positions worth $9.4 billion. Its top holding was Lazard (LAZ) at 3.1% of the portfolio, followed by Madison Square Garden Entert (MSGE, 2.9%) and Jones Lang Lasalle (JLL, 2.9%). Compared with Q3 2024, it opened 5 new positions, sold out of 5, added to 31 and reduced 70. The biggest buy was Bio-Rad Laboratories-A (BIO, shares +48%) and the biggest sale Royal Caribbean Cruises (RCL, shares −56%).

Most Recent 13F: Q2 2026
Notable People: John W. Rogers Jr.
Location: CHICAGO, IL
CIK: 0000936753
Portfolio Value: $9.4B (Q4 2024)
SEC Filing: 0000936753-25-000018 ↗ filed Feb 14, 2025

Holdings Value

Holdings 110 stocks · $9.4B


LAZ Lazard Inc.	3.08%	5,598,215	$288.2M	Reduce -9.0%
MSGE Madison Square Garden Entert	2.89%	7,604,543	$270.7M	Add +14.5%
JLL Jones Lang Lasalle Inc.	2.86%	1,059,948	$268.3M	Reduce -9.3%
AMG Affiliated Managers Group	2.81%	1,423,927	$263.3M	Reduce -1.9%
MAT Mattel Inc.	2.80%	14,820,745	$262.8M	Add +0.1%
FAF First American Financial	2.66%	3,993,155	$249.3M	Add +9.9%
CG The Carlyle Group Inc.	2.65%	4,910,736	$247.9M	Reduce -3.5%
NVST Envista Holdings Corp.	2.48%	12,059,624	$232.6M	Add +6.2%
SPHR Sphere Entertainment Co.	2.47%	5,744,192	$231.6M	Add +7.4%
BYD Boyd Gaming Corp.	2.47%	3,186,400	$231.1M	Add +0.0%
NTRS Northern Trust Corp.	2.44%	2,228,815	$228.5M	Reduce -11.8%
GNRC Generac Holdings Inc.	2.43%	1,467,327	$227.5M	Reduce -18.7%
PBH Prestige Consumer Healthcare	2.30%	2,762,023	$215.7M	Reduce -0.8%
CHKP Check Point Software Tech	2.26%	1,136,341	$212.2M	Reduce -5.3%
REZI Resideo Technologies Inc.	2.26%	9,199,100	$212.0M	Reduce -1.5%
SJM The JM Smucker Co. filed as SMUCKER J M CO	2.15%	1,832,861	$201.8M	Add +12.4%
MSGS Madison Square Garden Sports	2.15%	891,629	$201.2M	Reduce -2.9%
MHK Mohawk Industries Inc.	2.14%	1,686,183	$200.9M	Reduce -1.1%
ADT Adt Inc.	2.11%	28,580,136	$197.5M	Reduce -1.8%
CRL Charles River Laboratories	2.10%	1,067,327	$197.0M	Add +18.9%
BOKF Bok Financial Corporation	2.05%	1,802,681	$191.9M	Reduce -3.1%
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC	2.03%	2,093,204	$190.2M	Reduce -7.1%
KMT Kennametal Inc.	1.98%	7,740,557	$185.9M	Reduce -6.9%
BIO Bio-Rad Laboratories-A	1.96%	560,524	$184.1M	Add +48.0%
GNTX Gentex Corp.	1.96%	6,394,726	$183.7M	Reduce -0.4%
CLB Core Laboratories Inc.	1.78%	9,632,570	$166.7M	Reduce -4.1%
MIDD Middleby Corp.	1.73%	1,198,179	$162.3M	Add +6.4%
OSW Onespaworld Holdings Ltd.	1.65%	7,781,021	$154.8M	Reduce -17.8%
PARAA Paramount Global Class B	1.64%	14,663,907	$153.4M	Add +3.2%
IPG Interpublic Group of Cos Inc.	1.58%	5,268,781	$147.6M	Reduce -7.6%
MANU Manchester United PLC Class A	1.55%	8,369,522	$145.2M	Add +0.8%
AXTA Axalta Coating Systems Ltd.	1.54%	4,213,212	$144.2M	Reduce -2.8%
BCO The Brink's Co.	1.27%	1,282,104	$118.9M	Add +12.3%
LESLIES INC	1.20%	50,527,789	$112.7M	Add +8.5%
RCL Royal Caribbean Cruises Ltd.	1.13%	457,908	$105.6M	Reduce -56.0%
NCLH Norwegian Cruise Line Holdin	1.10%	4,003,639	$103.0M	Reduce -24.7%
JHG Janus Henderson Group PLC	0.99%	2,175,620	$92.5M	Reduce -0.3%
ZBRA Zebra Technologies Corp. Class A	0.97%	234,318	$90.5M	Reduce -20.8%
KN Knowles Corp.	0.95%	4,483,198	$89.4M	Reduce -3.3%
LH Labcorp Holdings Inc.	0.95%	389,139	$89.2M	Reduce -5.3%
LIND Lindblad Expeditions Holding	0.93%	7,336,722	$87.0M	Reduce -8.9%
MAS Masco Corp.	0.80%	1,027,939	$74.6M	Reduce -0.4%
LFUS Littelfuse Inc.	0.75%	298,065	$70.2M	Reduce -6.0%
GS Goldman Sachs Group Inc.	0.72%	117,477	$67.3M	Reduce -23.0%
WEX Wex Inc.	0.60%	318,272	$55.8M	Add +113.0%
GCMG GCM Grosvenor Inc. Class A	0.59%	4,492,872	$55.1M	Reduce -1.1%
VZ Verizon Communications Inc.	0.58%	1,352,692	$54.1M	Reduce -4.0%
MSFT Microsoft Corp.	0.58%	127,903	$53.9M	Reduce -41.3%
NVT Nvent Electric PLC	0.57%	783,145	$53.4M	Reduce -16.6%
APTV Aptiv PLC	0.57%	879,186	$53.2M	Reduce -8.4%
KMX Carmax Inc.	0.54%	620,743	$50.8M	Reduce -12.5%
MTN Vail Resorts Inc.	0.53%	265,338	$49.7M	Add +8.6%
COF Capital One Financial Corp.	0.52%	275,884	$49.2M	Reduce -11.9%
DNB Dun & Bradstreet Holdings Inc.	0.51%	3,843,220	$47.9M	Reduce -2.6%
CBRE CBRE Group Inc. Class A	0.51%	360,823	$47.4M	Reduce -13.2%
CNP Centerpoint Energy Inc.	0.49%	1,458,603	$46.3M	New
KEYS Keysight Technologies Inc.	0.49%	287,236	$46.1M	Reduce -3.6%
NTAP Netapp Inc.	0.49%	391,603	$45.5M	Reduce -4.0%
BAP Credicorp Ltd.	0.48%	244,135	$44.8M	Reduce -20.0%
WAL Western Alliance Bancorp	0.46%	520,020	$43.4M	Add +43.1%
SCHW Schwab (charles) Corp.	0.46%	580,800	$43.0M	Reduce -13.3%
CVS CVS Health Corp.	0.44%	928,626	$41.7M	Add +50.5%
KFY Korn Ferry	0.41%	566,567	$38.2M	Reduce -8.3%
GILD Gilead Sciences Inc.	0.39%	399,794	$36.9M	Add +68.7%
ALL Allstate Corp.	0.38%	183,116	$35.3M	Reduce -29.8%
SWK Stanley Black & Decker Inc.	0.38%	439,219	$35.3M	Reduce -16.7%
DVA Davita Inc.	0.38%	235,058	$35.2M	Reduce -4.0%
KKR KKR & Co. Inc.	0.37%	235,092	$34.8M	Reduce -15.4%
NOV Nov Inc.	0.36%	2,294,639	$33.5M	Reduce -6.5%
BWA Borgwarner Inc.	0.34%	1,001,643	$31.8M	Reduce -5.9%
AFL Aflac Inc.	0.34%	304,585	$31.5M	Reduce -15.7%
ZBH Zimmer Biomet Holdings Inc.	0.34%	298,101	$31.5M	Add +0.3%
BIDU Baidu Inc. - Spon ADR	0.32%	355,193	$29.9M	Reduce -5.3%
TAP Molson Coors Beverage Co. Class B	0.30%	497,984	$28.5M	Reduce -5.5%
ABBV Abbvie Inc.	0.29%	151,752	$27.0M	New
CNH CNH Industrial NV	0.27%	2,257,609	$25.6M	Reduce -4.0%
MGPI MGP Ingredients Inc.	0.25%	598,903	$23.6M	Add +17.6%
PM Philip Morris International	0.22%	173,034	$20.8M	Reduce -3.6%
INTC Intel Corp.	0.21%	987,776	$19.8M	Reduce -4.0%
TDC Teradata Corp.	0.21%	635,363	$19.8M	Reduce -4.0%
DHI D.R. Horton Inc.	0.20%	135,049	$18.9M	Reduce -4.0%
HCKT The Hackett Group Inc.	0.20%	604,064	$18.6M	Reduce -2.6%
SSD Simpson Manufacturing Co. Inc.	0.19%	107,828	$17.9M	Reduce -2.2%
LEN Lennar Corp. Class A	0.18%	123,938	$16.9M	Reduce -4.0%
TSM Taiwan Semiconductor-SP ADR	0.17%	79,638	$15.7M	Reduce -43.9%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC	0.16%	261,616	$14.9M	Reduce -12.9%
SNA Snap-on Inc.	0.15%	40,292	$13.7M	Reduce -2.7%
VEA Vanguard Ftse Developed ETF	0.13%	249,089	$11.9M	New
WBA Walgreens Boots Alliance Inc.	0.09%	907,748	$8.5M	Add +2.8%
IWN iShares Russell 2000 Value E	0.08%	46,404	$7.6M	Add +203.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.08%	164,820	$7.2M	Reduce -2.7%
ORCL Oracle Corp.	0.07%	41,763	$7.0M	Reduce -24.4%
PHIN Phinia Inc.	0.07%	140,232	$6.8M	Reduce -1.9%
LMT Lockheed Martin Corp.	0.07%	12,710	$6.2M	Reduce -1.8%
APA Apa Corp.	0.06%	246,222	$5.7M	Add +2.3%
CVX Chevron Corp.	0.06%	38,827	$5.6M	No change
JNJ Johnson & Johnson	0.05%	31,163	$4.5M	Add +24.3%
B Barrick Gold Corp.	0.04%	252,257	$3.9M	No change
MOS The Mosaic Co.	0.04%	141,040	$3.5M	No change
FISV Fiserv Inc.	0.01%	4,681	$962K	Add +3.1%

Show all 110 holdings

Portfolio Sells Q3 2024 → Q4 2024


RCL Royal Caribbean Cruises Ltd.	Reduce -56.0%	1.13%	−0.76
MHK Mohawk Industries Inc.	Reduce -1.1%	2.14%	−0.65
GNRC Generac Holdings Inc.	Reduce -18.7%	2.43%	−0.50
MSFT Microsoft Corp.	Reduce -41.3%	0.58%	−0.38
JLL Jones Lang Lasalle Inc.	Reduce -9.3%	2.86%	−0.36
IPG Interpublic Group of Cos Inc.	Reduce -7.6%	1.58%	−0.27
KMT Kennametal Inc.	Reduce -6.9%	1.98%	−0.22
SWK Stanley Black & Decker Inc.	Reduce -16.7%	0.38%	−0.22
CMA Comerica Inc.	Sold out	0.00%	−0.19
BMY Bristol-Myers Squibb Co.	Sold out	0.00%	−0.18
JD Jd.com Inc.-ADR	Sold out	0.00%	−0.18
ZBRA Zebra Technologies Corp. Class A	Reduce -20.8%	0.97%	−0.15
APTV Aptiv PLC	Reduce -8.4%	0.57%	−0.14
ALL Allstate Corp.	Reduce -29.8%	0.38%	−0.13
CLB Core Laboratories Inc.	Reduce -4.1%	1.78%	−0.12
LFUS Littelfuse Inc.	Reduce -6.0%	0.75%	−0.11
NVT Nvent Electric PLC	Reduce -16.6%	0.57%	−0.10
CHKP Check Point Software Tech	Reduce -5.3%	2.26%	−0.10
LAZ Lazard Inc.	Reduce -9.0%	3.08%	−0.09
MAS Masco Corp.	Reduce -0.4%	0.80%	−0.09
BAP Credicorp Ltd.	Reduce -20.0%	0.48%	−0.09
BIDU Baidu Inc. - Spon ADR	Reduce -5.3%	0.32%	−0.08
TSM Taiwan Semiconductor-SP ADR	Reduce -43.9%	0.17%	−0.08
AFL Aflac Inc.	Reduce -15.7%	0.34%	−0.08
DHI D.R. Horton Inc.	Reduce -4.0%	0.20%	−0.07
VZ Verizon Communications Inc.	Reduce -4.0%	0.58%	−0.07
KFY Korn Ferry	Reduce -8.3%	0.41%	−0.07
LEN Lennar Corp. Class A	Reduce -4.0%	0.18%	−0.07
AXTA Axalta Coating Systems Ltd.	Reduce -2.8%	1.54%	−0.06
BWA Borgwarner Inc.	Reduce -5.9%	0.34%	−0.05
GS Goldman Sachs Group Inc.	Reduce -23.0%	0.72%	−0.05
NOV Nov Inc.	Reduce -6.5%	0.36%	−0.04
ADT Adt Inc.	Reduce -1.8%	2.11%	−0.04
INTC Intel Corp.	Reduce -4.0%	0.21%	−0.04
DVA Davita Inc.	Reduce -4.0%	0.38%	−0.03
KB KB Financial Group Inc.-ADR	Reduce -12.9%	0.16%	−0.03
NTAP Netapp Inc.	Reduce -4.0%	0.49%	−0.03
SSD Simpson Manufacturing Co. Inc.	Reduce -2.2%	0.19%	−0.02
CBRE CBRE Group Inc. Class A	Reduce -13.2%	0.51%	−0.02
ORCL Oracle Corp.	Reduce -24.4%	0.07%	−0.02
KMX Carmax Inc.	Reduce -12.5%	0.54%	−0.02
NCLH Norwegian Cruise Line Holdin	Reduce -24.7%	1.10%	−0.01
LMT Lockheed Martin Corp.	Reduce -1.8%	0.07%	−0.01
VIV Telefonica Brasil-ADR	Sold out	0.00%	−0.00
TAP Molson Coors Beverage Co. Class B	Reduce -5.5%	0.30%	−0.00
PGR Progressive Corp.	Sold out	0.00%	−0.00
ST Sensata Technologies Holdplc	Reduce -3.0%	0.00%	−0.00
PM Philip Morris International	Reduce -3.6%	0.22%	−0.00
FICO Fair Isaac Corp.	Reduce -8.2%	0.01%	−0.00
KKR KKR & Co. Inc.	Reduce -15.4%	0.37%	+0.00

Portfolio Buys Q3 2024 → Q4 2024


BIO Bio-Rad Laboratories-A	Add +48.0%	1.96%	+0.67
CNP Centerpoint Energy Inc.	New	0.49%	+0.49
BYD Boyd Gaming Corp.	Add +0.0%	2.47%	+0.36
CRL Charles River Laboratories	Add +18.9%	2.10%	+0.30
ABBV Abbvie Inc.	New	0.29%	+0.29
WEX Wex Inc.	Add +113.0%	0.60%	+0.28
FAF First American Financial	Add +9.9%	2.66%	+0.21
GILD Gilead Sciences Inc.	Add +68.7%	0.39%	+0.19
NVST Envista Holdings Corp.	Add +6.2%	2.48%	+0.19
MANU Manchester United PLC Class A	Add +0.8%	1.55%	+0.18
WAL Western Alliance Bancorp	Add +43.1%	0.46%	+0.14
SJM The JM Smucker Co.	Add +12.4%	2.15%	+0.14
MIDD Middleby Corp.	Add +6.4%	1.73%	+0.13
VEA Vanguard Ftse Developed ETF	New	0.13%	+0.13
PARAA Paramount Global Class B	Add +3.2%	1.64%	+0.10
MTN Vail Resorts Inc.	Add +8.6%	0.53%	+0.10
SPHR Sphere Entertainment Co.	Add +7.4%	2.47%	+0.06
IWN iShares Russell 2000 Value E	Add +203.8%	0.08%	+0.06
CVS CVS Health Corp.	Add +50.5%	0.44%	+0.05
WBA Walgreens Boots Alliance Inc.	Add +2.8%	0.09%	+0.01
ZBH Zimmer Biomet Holdings Inc.	Add +0.3%	0.34%	+0.01
SLB SLB Ltd.	New	0.01%	+0.01
JNJ Johnson & Johnson	Add +24.3%	0.05%	+0.01
MSGE Madison Square Garden Entert	Add +14.5%	2.89%	+0.01
IFS Intercorp Financial Services	New	0.00%	+0.00
FISV Fiserv Inc.	Add +3.1%	0.01%	+0.00
KSPI JSC Kaspi.kz ADR	Add +57.1%	0.00%	+0.00
APA Apa Corp.	Add +2.3%	0.06%	+0.00
MTB M & T Bank Corp.	Add +6.1%	0.00%	+0.00
MSI Motorola Solutions Inc.	Add +6.2%	0.00%	+0.00
BRC Brady Corporation Class A	Add +6.1%	0.00%	+0.00
REYN Reynolds Consumer Products I	Add +6.1%	0.00%	−0.00
MAT Mattel Inc.	Add +0.1%	2.80%	−0.08
BCO The Brink's Co.	Add +12.3%	1.27%	−0.08
MGPI MGP Ingredients Inc.	Add +17.6%	0.25%	−0.18
LESLIES INC	Add +8.5%	1.20%	−0.30

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	106	$10.0B	MSGE, OSW, CRL, AMG, JLL
Q1 2026	106	$8.9B	MSGE, OSW, JLL, AMG, SPHR
Q4 2025	108	$9.3B	MSGE, AMG, NCLH, SPHR, JLL
Q3 2025	107	$9.4B	SPHR, MSGE, AMG, NCLH, REZI
Q2 2025	104	$8.8B	MSGE, SPHR, MAT, LAZ, OSW
Q1 2025	106	$8.5B	MAT, JLL, MSGE, LAZ, FAF
Q4 2024	110	$9.4B	LAZ, MSGE, JLL, AMG, MAT
Q3 2024	110	$9.8B	JLL, LAZ, GNRC, MSGE, MAT
Q2 2024	115	$9.2B	JLL, GNRC, MAT, ADT, LAZ
Q1 2024	115	$10.2B	MAT, JLL, MSGE, GNRC, REZI