Ariel Investments

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

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), John W. Rogers Jr.'s Ariel Investments reported 106 stock positions worth $8.5 billion. Its top holding was Mattel (MAT) at 3.2% of the portfolio, followed by Jones Lang Lasalle (JLL, 3.0%) and Madison Square Garden Entert (MSGE, 3.0%). Compared with Q4 2024, it opened 5 new positions, sold out of 9, added to 48 and reduced 49. The biggest buy was Norwegian Cruise Line Holdin (NCLH, shares +127%) and the biggest sale an exit from Royal Caribbean Cruises (RCL).

Most Recent 13F: Q2 2026
Notable People: John W. Rogers Jr.
Location: CHICAGO, IL
CIK: 0000936753
Portfolio Value: $8.5B (Q1 2025)
SEC Filing: 0000936753-25-000029 ↗ filed May 15, 2025

Holdings Value

Holdings 106 stocks · $8.5B


MAT Mattel Inc.	3.16%	13,858,115	$269.3M	Reduce -6.5%
JLL Jones Lang Lasalle Inc.	3.02%	1,036,380	$256.9M	Reduce -2.2%
MSGE Madison Square Garden Entert	2.99%	7,775,373	$254.6M	Add +2.3%
LAZ Lazard Inc.	2.86%	5,619,280	$243.3M	Add +0.4%
FAF First American Financial	2.85%	3,690,878	$242.2M	Reduce -7.6%
AMG Affiliated Managers Group	2.78%	1,407,151	$236.4M	Reduce -1.2%
SJM The JM Smucker Co. filed as SMUCKER J M CO	2.62%	1,881,584	$222.8M	Add +2.7%
ADT Adt Inc.	2.59%	27,057,295	$220.2M	Reduce -5.3%
PBH Prestige Consumer Healthcare	2.54%	2,518,941	$216.6M	Reduce -8.8%
CG The Carlyle Group Inc.	2.48%	4,839,213	$210.9M	Reduce -1.5%
NVST Envista Holdings Corp.	2.46%	12,144,745	$209.6M	Add +0.7%
SPHR Sphere Entertainment Co.	2.42%	6,298,139	$206.1M	Add +9.6%
GNRC Generac Holdings Inc.	2.40%	1,615,878	$204.7M	Add +10.1%
BYD Boyd Gaming Corp.	2.40%	3,097,811	$203.9M	Reduce -2.8%
MHK Mohawk Industries Inc.	2.34%	1,743,574	$199.1M	Add +3.4%
NTRS Northern Trust Corp.	2.27%	1,957,259	$193.1M	Reduce -12.2%
BOKF Bok Financial Corporation	2.21%	1,808,295	$188.3M	Add +0.3%
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC	2.20%	1,856,878	$186.9M	Reduce -11.3%
OSW Onespaworld Holdings Ltd.	2.11%	10,713,305	$179.9M	Add +37.7%
BIO Bio-Rad Laboratories-A	2.07%	724,660	$176.5M	Add +29.3%
NCLH Norwegian Cruise Line Holdin	2.02%	9,081,170	$172.2M	Add +126.8%
REZI Resideo Technologies Inc.	2.01%	9,664,671	$171.1M	Add +5.1%
PARAA Paramount Global Class B	2.00%	14,215,254	$170.0M	Reduce -3.1%
CRL Charles River Laboratories	1.95%	1,100,776	$165.7M	Add +3.1%
GNTX Gentex Corp.	1.94%	7,082,055	$165.0M	Add +10.8%
KMT Kennametal Inc.	1.94%	7,735,244	$164.8M	Reduce -0.1%
MSGS Madison Square Garden Sports	1.92%	838,943	$163.4M	Reduce -5.9%
CLB Core Laboratories Inc.	1.82%	10,342,025	$155.0M	Add +7.4%
CHKP Check Point Software Tech	1.81%	677,221	$154.4M	Reduce -40.4%
MIDD Middleby Corp.	1.77%	990,523	$150.5M	Reduce -17.3%
IPG Interpublic Group of Cos Inc.	1.68%	5,277,157	$143.3M	Add +0.2%
AXTA Axalta Coating Systems Ltd.	1.61%	4,125,561	$136.8M	Reduce -2.1%
BCO The Brink's Co.	1.41%	1,394,284	$120.1M	Add +8.8%
MANU Manchester United PLC Class A	1.32%	8,575,329	$112.3M	Add +2.5%
LH Labcorp Holdings Inc.	1.01%	368,263	$85.7M	Reduce -5.4%
JHG Janus Henderson Group PLC	0.91%	2,148,665	$77.7M	Reduce -1.2%
LIND Lindblad Expeditions Holding	0.85%	7,777,768	$72.1M	Add +6.0%
KN Knowles Corp.	0.83%	4,657,747	$70.8M	Add +3.9%
CVS CVS Health Corp.	0.81%	1,020,033	$69.1M	Add +9.8%
MAS Masco Corp.	0.77%	941,986	$65.5M	Reduce -8.4%
WEX Wex Inc.	0.76%	412,247	$64.7M	Add +29.5%
VZ Verizon Communications Inc.	0.76%	1,425,207	$64.6M	Add +5.4%
ZBRA Zebra Technologies Corp. Class A	0.75%	226,052	$63.9M	Reduce -3.5%
LFUS Littelfuse Inc.	0.71%	305,392	$60.1M	Add +2.5%
CNP Centerpoint Energy Inc.	0.70%	1,654,590	$59.9M	Add +13.4%
GCMG GCM Grosvenor Inc. Class A	0.69%	4,429,255	$58.6M	Reduce -1.4%
COF Capital One Financial Corp.	0.61%	291,117	$52.2M	Add +5.5%
GILD Gilead Sciences Inc.	0.57%	430,424	$48.2M	Add +7.7%
MSFT Microsoft Corp.	0.55%	123,894	$46.5M	Reduce -3.1%
APTV Aptiv PLC	0.54%	769,398	$45.8M	Reduce -12.5%
SCHW Schwab (charles) Corp.	0.51%	558,167	$43.7M	Reduce -3.9%
KMX Carmax Inc.	0.51%	559,149	$43.6M	Reduce -9.9%
LESLIES INC	0.50%	58,177,415	$42.8M	Add +15.1%
KEYS Keysight Technologies Inc.	0.50%	281,354	$42.1M	Reduce -2.0%
NVT Nvent Electric PLC	0.49%	796,665	$41.8M	Add +1.7%
SLB SLB Ltd. filed as SCHLUMBERGER LTD	0.49%	994,358	$41.6M	Add +5096.5%
KFY Korn Ferry	0.47%	589,145	$40.0M	Add +4.0%
WAL Western Alliance Bancorp	0.45%	503,607	$38.7M	Reduce -3.2%
CBRE CBRE Group Inc. Class A	0.44%	288,349	$37.7M	Reduce -20.1%
ALL Allstate Corp.	0.43%	177,344	$36.7M	Reduce -3.1%
AQN Algonquin Power & Utilities	0.42%	6,952,341	$35.7M	New
DNB Dun & Bradstreet Holdings Inc.	0.42%	3,996,918	$35.7M	Add +4.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.41%	839,929	$35.1M	Add +409.6%
ZBH Zimmer Biomet Holdings Inc.	0.40%	299,923	$33.9M	Add +0.6%
BAP Credicorp Ltd.	0.40%	180,611	$33.6M	Reduce -26.0%
SWK Stanley Black & Decker Inc.	0.39%	428,624	$33.0M	Reduce -2.4%
KKR KKR & Co. Inc.	0.37%	275,025	$31.8M	Add +17.0%
TAP Molson Coors Beverage Co. Class B	0.36%	497,724	$30.3M	Reduce -0.1%
CNH CNH Industrial NV	0.32%	2,187,205	$26.9M	Reduce -3.1%
NTAP Netapp Inc.	0.29%	284,408	$25.0M	Reduce -27.4%
AFL Aflac Inc.	0.29%	219,423	$24.4M	Reduce -28.0%
INTC Intel Corp.	0.26%	957,678	$21.7M	Reduce -3.0%
MTN Vail Resorts Inc.	0.23%	124,049	$19.9M	Reduce -53.3%
BWA Borgwarner Inc.	0.23%	686,002	$19.7M	Reduce -31.5%
MGPI MGP Ingredients Inc.	0.22%	626,058	$18.4M	Add +4.5%
HCKT The Hackett Group Inc.	0.22%	628,672	$18.4M	Add +4.1%
ABBV Abbvie Inc.	0.21%	84,394	$17.7M	Reduce -44.4%
SSD Simpson Manufacturing Co. Inc.	0.21%	111,496	$17.5M	Add +3.4%
DHI D.R. Horton Inc.	0.21%	137,621	$17.5M	Add +1.9%
PM Philip Morris International	0.20%	108,328	$17.2M	Reduce -37.4%
OC Owens Corning	0.19%	112,578	$16.1M	New
SNA Snap-on Inc.	0.14%	34,986	$11.8M	Reduce -13.2%
VT Vanguard Tot World STK ETF	0.10%	74,824	$8.7M	New
VEA Vanguard Ftse Developed ETF	0.08%	132,913	$6.8M	Reduce -46.6%
CVX Chevron Corp.	0.07%	37,763	$6.3M	Reduce -2.7%
IWN iShares Russell 2000 Value E	0.07%	40,617	$6.1M	Reduce -12.5%
PHIN Phinia Inc.	0.07%	140,240	$6.0M	Add +0.0%
LMT Lockheed Martin Corp.	0.07%	12,710	$5.7M	No change
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC	0.07%	104,374	$5.6M	Reduce -60.1%
ORCL Oracle Corp.	0.06%	38,008	$5.3M	Reduce -9.0%
APA Apa Corp.	0.06%	246,222	$5.2M	No change
JNJ Johnson & Johnson	0.06%	31,163	$5.2M	No change
TSM Taiwan Semiconductor-SP ADR	0.06%	30,108	$5.0M	Reduce -62.2%
GS Goldman Sachs Group Inc.	0.06%	9,005	$4.9M	Reduce -92.3%
B Barrick Gold Corp.	0.05%	217,272	$4.2M	Reduce -13.9%
VXUS Vanguard Total Intl Stock	0.05%	63,386	$3.9M	New
MOS The Mosaic Co.	0.04%	141,040	$3.8M	No change
ZIMV Zimvie Inc.	0.02%	167,716	$1.8M	Add +174.4%
FISV Fiserv Inc.	0.01%	4,706	$1.0M	Add +0.5%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	0.01%	7,130	$662K	Add +105.3%
IFS Intercorp Financial Services	0.01%	18,521	$614K	Add +103.6%
FICO Fair Isaac Corp.	0.01%	237	$437K	Add +0.4%
MTB M & T Bank Corp. filed as M & T BK CORP	0.00%	2,206	$394K	Add +0.6%
MSI Motorola Solutions Inc.	0.00%	805	$352K	Add +0.6%
BRC Brady Corporation Class A	0.00%	3,860	$273K	Add +0.5%
PGR Progressive Corp.	0.00%	828	$234K	New

Portfolio Sells Q4 2024 → Q1 2025


RCL Royal Caribbean Cruises Ltd.	Sold out	0.00%	−1.13
GS Goldman Sachs Group Inc.	Reduce -92.3%	0.06%	−0.66
CHKP Check Point Software Tech	Reduce -40.4%	1.81%	−0.45
DVA Davita Inc.	Sold out	0.00%	−0.38
NOV Nov Inc.	Sold out	0.00%	−0.36
BIDU Baidu Inc. - Spon ADR	Sold out	0.00%	−0.32
MTN Vail Resorts Inc.	Reduce -53.3%	0.23%	−0.30
MSGS Madison Square Garden Sports	Reduce -5.9%	1.92%	−0.23
ZBRA Zebra Technologies Corp. Class A	Reduce -3.5%	0.75%	−0.22
TDC Teradata Corp.	Sold out	0.00%	−0.21
NTAP Netapp Inc.	Reduce -27.4%	0.29%	−0.19
LEN Lennar Corp. Class A	Sold out	0.00%	−0.18
NTRS Northern Trust Corp.	Reduce -12.2%	2.27%	−0.17
CG The Carlyle Group Inc.	Reduce -1.5%	2.48%	−0.17
TSM Taiwan Semiconductor-SP ADR	Reduce -62.2%	0.06%	−0.11
BWA Borgwarner Inc.	Reduce -31.5%	0.23%	−0.11
KB KB Financial Group Inc.-ADR	Reduce -60.1%	0.07%	−0.09
WBA Walgreens Boots Alliance Inc.	Sold out	0.00%	−0.09
BAP Credicorp Ltd.	Reduce -26.0%	0.40%	−0.08
ABBV Abbvie Inc.	Reduce -44.4%	0.21%	−0.08
JHG Janus Henderson Group PLC	Reduce -1.2%	0.91%	−0.07
BYD Boyd Gaming Corp.	Reduce -2.8%	2.40%	−0.07
CBRE CBRE Group Inc. Class A	Reduce -20.1%	0.44%	−0.06
AFL Aflac Inc.	Reduce -28.0%	0.29%	−0.05
KMT Kennametal Inc.	Reduce -0.1%	1.94%	−0.05
VEA Vanguard Ftse Developed ETF	Reduce -46.6%	0.08%	−0.05
AMG Affiliated Managers Group	Reduce -1.2%	2.78%	−0.03
KMX Carmax Inc.	Reduce -9.9%	0.51%	−0.03
APTV Aptiv PLC	Reduce -12.5%	0.54%	−0.03
MSFT Microsoft Corp.	Reduce -3.1%	0.55%	−0.03
MAS Masco Corp.	Reduce -8.4%	0.77%	−0.03
PM Philip Morris International	Reduce -37.4%	0.20%	−0.02
ORCL Oracle Corp.	Reduce -9.0%	0.06%	−0.01
IWN iShares Russell 2000 Value E	Reduce -12.5%	0.07%	−0.01
WAL Western Alliance Bancorp	Reduce -3.2%	0.45%	−0.01
SNA Snap-on Inc.	Reduce -13.2%	0.14%	−0.01
ST Sensata Technologies Holdplc	Sold out	0.00%	−0.00
REYN Reynolds Consumer Products I	Sold out	0.00%	−0.00
KEYS Keysight Technologies Inc.	Reduce -2.0%	0.50%	+0.00
B Barrick Gold Corp.	Reduce -13.9%	0.05%	+0.01
SWK Stanley Black & Decker Inc.	Reduce -2.4%	0.39%	+0.01
CVX Chevron Corp.	Reduce -2.7%	0.07%	+0.01
MIDD Middleby Corp.	Reduce -17.3%	1.77%	+0.04
CNH CNH Industrial NV	Reduce -3.1%	0.32%	+0.04
INTC Intel Corp.	Reduce -3.0%	0.26%	+0.04
TAP Molson Coors Beverage Co. Class B	Reduce -0.1%	0.36%	+0.05
ALL Allstate Corp.	Reduce -3.1%	0.43%	+0.05
SCHW Schwab (charles) Corp.	Reduce -3.9%	0.51%	+0.05
LH Labcorp Holdings Inc.	Reduce -5.4%	1.01%	+0.06
AXTA Axalta Coating Systems Ltd.	Reduce -2.1%	1.61%	+0.07

Portfolio Buys Q4 2024 → Q1 2025


NCLH Norwegian Cruise Line Holdin	Add +126.8%	2.02%	+0.92
SLB SLB Ltd.	Add +5096.5%	0.49%	+0.48
SJM The JM Smucker Co.	Add +2.7%	2.62%	+0.46
OSW Onespaworld Holdings Ltd.	Add +37.7%	2.11%	+0.46
AQN Algonquin Power & Utilities	New	0.42%	+0.42
CVS CVS Health Corp.	Add +9.8%	0.81%	+0.37
BAC Bank of America Corp.	Add +409.6%	0.41%	+0.33
CNP Centerpoint Energy Inc.	Add +13.4%	0.70%	+0.21
MHK Mohawk Industries Inc.	Add +3.4%	2.34%	+0.20
OC Owens Corning	New	0.19%	+0.19
VZ Verizon Communications Inc.	Add +5.4%	0.76%	+0.18
GILD Gilead Sciences Inc.	Add +7.7%	0.57%	+0.17
BOKF Bok Financial Corporation	Add +0.3%	2.21%	+0.17
WEX Wex Inc.	Add +29.5%	0.76%	+0.17
BCO The Brink's Co.	Add +8.8%	1.41%	+0.14
BIO Bio-Rad Laboratories-A	Add +29.3%	2.07%	+0.11
IPG Interpublic Group of Cos Inc.	Add +0.2%	1.68%	+0.11
MSGE Madison Square Garden Entert	Add +2.3%	2.99%	+0.10
VT Vanguard Tot World STK ETF	New	0.10%	+0.10
COF Capital One Financial Corp.	Add +5.5%	0.61%	+0.09
ZBH Zimmer Biomet Holdings Inc.	Add +0.6%	0.40%	+0.06
KFY Korn Ferry	Add +4.0%	0.47%	+0.06
VXUS Vanguard Total Intl Stock	New	0.05%	+0.05
CLB Core Laboratories Inc.	Add +7.4%	1.82%	+0.04
HCKT The Hackett Group Inc.	Add +4.1%	0.22%	+0.02
SSD Simpson Manufacturing Co. Inc.	Add +3.4%	0.21%	+0.01
ZIMV Zimvie Inc.	Add +174.4%	0.02%	+0.01
IFS Intercorp Financial Services	Add +103.6%	0.01%	+0.00
KSPI JSC Kaspi.kz ADR	Add +105.3%	0.01%	+0.00
DHI D.R. Horton Inc.	Add +1.9%	0.21%	+0.00
PGR Progressive Corp.	New	0.00%	+0.00
KKR KKR & Co. Inc.	Add +17.0%	0.37%	+0.00
FISV Fiserv Inc.	Add +0.5%	0.01%	+0.00
BRC Brady Corporation Class A	Add +0.5%	0.00%	+0.00
MTB M & T Bank Corp.	Add +0.6%	0.00%	+0.00
MSI Motorola Solutions Inc.	Add +0.6%	0.00%	+0.00
FICO Fair Isaac Corp.	Add +0.4%	0.01%	+0.00
PHIN Phinia Inc.	Add +0.0%	0.07%	−0.00
NVST Envista Holdings Corp.	Add +0.7%	2.46%	−0.02
GNTX Gentex Corp.	Add +10.8%	1.94%	−0.02
GNRC Generac Holdings Inc.	Add +10.1%	2.40%	−0.02
MGPI MGP Ingredients Inc.	Add +4.5%	0.22%	−0.04
LFUS Littelfuse Inc.	Add +2.5%	0.71%	−0.04
SPHR Sphere Entertainment Co.	Add +9.6%	2.42%	−0.05
NVT Nvent Electric PLC	Add +1.7%	0.49%	−0.08
LIND Lindblad Expeditions Holding	Add +6.0%	0.85%	−0.08
DNB Dun & Bradstreet Holdings Inc.	Add +4.0%	0.42%	−0.09
KN Knowles Corp.	Add +3.9%	0.83%	−0.12
CRL Charles River Laboratories	Add +3.1%	1.95%	−0.16
LAZ Lazard Inc.	Add +0.4%	2.86%	−0.22

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