Ariel Investments

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

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), John W. Rogers Jr.'s Ariel Investments reported 104 stock positions worth $8.8 billion. Its top holding was Madison Square Garden Entert (MSGE) at 3.6% of the portfolio, followed by Sphere Entertainment (SPHR, 3.4%) and Mattel (MAT, 3.2%). Compared with Q1 2025, it opened 2 new positions, sold out of 4, added to 38 and reduced 61. The biggest buy was Sphere Entertainment (SPHR, shares +13%) and the biggest sale JM Smucker (SJM, shares −19%).

Most Recent 13F: Q2 2026
Notable People: John W. Rogers Jr.
Location: CHICAGO, IL
CIK: 0000936753
Portfolio Value: $8.8B (Q2 2025)
SEC Filing: 0000936753-25-000065 ↗ filed Aug 14, 2025

Holdings Value

Holdings 104 stocks · $8.8B


MSGE Madison Square Garden Entert	3.58%	7,896,008	$315.6M	Add +1.6%
SPHR Sphere Entertainment Co.	3.36%	7,100,237	$296.8M	Add +12.7%
MAT Mattel Inc.	3.18%	14,220,786	$280.4M	Add +2.6%
LAZ Lazard Inc.	3.13%	5,753,997	$276.1M	Add +2.4%
OSW Onespaworld Holdings Ltd.	3.05%	13,213,156	$269.4M	Add +23.3%
AMG Affiliated Managers Group	3.02%	1,355,075	$266.6M	Reduce -3.7%
GNRC Generac Holdings Inc.	2.93%	1,804,595	$258.4M	Add +11.7%
JLL Jones Lang Lasalle Inc.	2.91%	1,004,090	$256.8M	Reduce -3.1%
NCLH Norwegian Cruise Line Holdin	2.84%	12,369,377	$250.9M	Add +36.2%
CG The Carlyle Group Inc.	2.74%	4,705,544	$241.9M	Reduce -2.8%
NVST Envista Holdings Corp.	2.74%	12,355,666	$241.4M	Add +1.7%
BYD Boyd Gaming Corp.	2.51%	2,834,739	$221.8M	Reduce -8.5%
FAF First American Financial	2.44%	3,504,069	$215.1M	Reduce -5.1%
CRL Charles River Laboratories	2.43%	1,415,348	$214.8M	Add +28.6%
REZI Resideo Technologies Inc.	2.24%	8,956,209	$197.6M	Reduce -7.3%
BIO Bio-Rad Laboratories-A	2.24%	818,624	$197.6M	Add +13.0%
ADT Adt Inc.	2.23%	23,244,598	$196.9M	Reduce -14.1%
MHK Mohawk Industries Inc.	2.04%	1,716,569	$180.0M	Reduce -1.6%
PBH Prestige Consumer Healthcare	1.99%	2,202,327	$175.9M	Reduce -12.6%
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC	1.98%	1,375,687	$175.0M	Reduce -25.9%
BOKF Bok Financial Corporation	1.98%	1,789,772	$174.7M	Reduce -1.0%
NTRS Northern Trust Corp.	1.98%	1,376,364	$174.5M	Reduce -29.7%
GNTX Gentex Corp.	1.83%	7,359,272	$161.8M	Add +3.9%
MANU Manchester United PLC Class A	1.82%	9,024,434	$160.7M	Add +5.2%
PARAA Paramount Global Class B	1.81%	12,363,100	$159.5M	Reduce -13.0%
MSGS Madison Square Garden Sports	1.79%	757,837	$158.4M	Reduce -9.7%
SJM The JM Smucker Co. filed as SMUCKER J M CO	1.70%	1,528,938	$150.1M	Reduce -18.7%
CLB Core Laboratories Inc.	1.69%	12,976,463	$149.5M	Add +25.5%
MIDD Middleby Corp.	1.53%	934,607	$134.6M	Reduce -5.7%
BCO The Brink's Co.	1.40%	1,383,454	$123.5M	Reduce -0.8%
AXTA Axalta Coating Systems Ltd.	1.34%	3,981,974	$118.2M	Reduce -3.5%
KMT Kennametal Inc.	1.29%	4,971,198	$114.1M	Reduce -35.7%
CHKP Check Point Software Tech	1.24%	493,547	$109.2M	Reduce -27.1%
MSFT Microsoft Corp.	1.20%	213,138	$106.0M	Add +72.0%
ZBRA Zebra Technologies Corp. Class A	1.19%	339,069	$104.6M	Add +50.0%
LH Labcorp Holdings Inc.	1.09%	365,398	$95.9M	Reduce -0.8%
APTV Aptiv PLC	1.07%	1,386,513	$94.6M	Add +80.2%
KN Knowles Corp.	0.93%	4,643,564	$81.8M	Reduce -0.3%
LIND Lindblad Expeditions Holding	0.91%	6,892,053	$80.4M	Reduce -11.4%
CVS CVS Health Corp.	0.91%	1,164,574	$80.3M	Add +14.2%
JHG Janus Henderson Group PLC	0.90%	2,036,989	$79.1M	Reduce -5.2%
IPG Interpublic Group of Cos Inc.	0.88%	3,180,658	$77.9M	Reduce -39.7%
AQN Algonquin Power & Utilities	0.85%	13,112,831	$75.1M	Add +88.6%
NVT Nvent Electric PLC	0.78%	934,041	$68.4M	Add +17.2%
LFUS Littelfuse Inc.	0.76%	294,001	$66.7M	Reduce -3.7%
WEX Wex Inc.	0.67%	401,086	$58.9M	Reduce -2.7%
GCMG GCM Grosvenor Inc. Class A	0.58%	4,452,562	$51.5M	Add +0.5%
FSLR First Solar Inc.	0.58%	307,292	$50.9M	New
VZ Verizon Communications Inc.	0.57%	1,171,161	$50.7M	Reduce -17.8%
KEYS Keysight Technologies Inc.	0.49%	262,761	$43.1M	Reduce -6.6%
KFY Korn Ferry	0.48%	571,576	$41.9M	Reduce -3.0%
GILD Gilead Sciences Inc.	0.46%	368,861	$40.9M	Reduce -14.3%
KKR KKR & Co. Inc.	0.46%	302,109	$40.2M	Add +9.8%
COF Capital One Financial Corp.	0.45%	188,311	$40.1M	Reduce -35.3%
KMX Carmax Inc.	0.42%	552,977	$37.2M	Reduce -1.1%
SCHW Schwab (charles) Corp.	0.42%	406,048	$37.0M	Reduce -27.3%
NTAP Netapp Inc.	0.42%	344,734	$36.7M	Add +21.2%
SLB SLB Ltd. filed as SCHLUMBERGER LTD	0.41%	1,059,263	$35.8M	Add +6.5%
BAP Credicorp Ltd.	0.37%	147,208	$32.9M	Reduce -18.5%
CBRE CBRE Group Inc. Class A	0.37%	233,336	$32.7M	Reduce -19.1%
CNP Centerpoint Energy Inc.	0.37%	884,095	$32.5M	Reduce -46.6%
INTC Intel Corp.	0.36%	1,410,999	$31.6M	Add +47.3%
FISV Fiserv Inc.	0.36%	182,786	$31.5M	Add +3784.1%
SWK Stanley Black & Decker Inc.	0.33%	424,573	$28.8M	Reduce -0.9%
MAS Masco Corp.	0.29%	401,924	$25.9M	Reduce -57.3%
GS Goldman Sachs Group Inc.	0.29%	36,538	$25.9M	Add +305.8%
LESLIES INC	0.29%	60,903,406	$25.6M	Add +4.7%
ALL Allstate Corp.	0.27%	118,737	$23.9M	Reduce -33.0%
ZBH Zimmer Biomet Holdings Inc.	0.26%	253,190	$23.1M	Reduce -15.6%
AFL Aflac Inc.	0.26%	216,615	$22.8M	Reduce -1.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.26%	477,903	$22.6M	Reduce -43.1%
TAP Molson Coors Beverage Co. Class B	0.25%	467,331	$22.5M	Reduce -6.1%
MGPI MGP Ingredients Inc.	0.24%	719,144	$21.6M	Add +14.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.24%	172,170	$21.4M	New
WAL Western Alliance Bancorp	0.23%	259,369	$20.2M	Reduce -48.5%
OC Owens Corning	0.22%	140,449	$19.3M	Add +24.8%
MTN Vail Resorts Inc.	0.21%	119,332	$18.8M	Reduce -3.8%
DHI D.R. Horton Inc.	0.21%	144,643	$18.6M	Add +5.1%
SSD Simpson Manufacturing Co. Inc.	0.19%	108,613	$16.9M	Reduce -2.6%
VEA Vanguard Ftse Developed ETF	0.16%	245,539	$14.0M	Add +84.7%
HCKT The Hackett Group Inc.	0.15%	523,231	$13.3M	Reduce -16.8%
SNA Snap-on Inc.	0.12%	33,005	$10.3M	Reduce -5.7%
ORCL Oracle Corp.	0.08%	31,885	$7.0M	Reduce -16.1%
TSM Taiwan Semiconductor-SP ADR	0.08%	30,031	$6.8M	Reduce -0.3%
PHIN Phinia Inc.	0.07%	140,160	$6.2M	Reduce -0.1%
LMT Lockheed Martin Corp.	0.07%	12,710	$5.9M	No change
APA Apa Corp.	0.06%	299,492	$5.5M	Add +21.6%
MOS The Mosaic Co.	0.06%	148,340	$5.4M	Add +5.2%
CVX Chevron Corp.	0.06%	37,763	$5.4M	No change
B Barrick Mining Corp.	0.06%	244,597	$5.1M	Add +12.6%
JNJ Johnson & Johnson	0.05%	31,163	$4.8M	No change
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC	0.05%	52,122	$4.3M	Reduce -50.1%
VT Vanguard Tot World STK ETF	0.05%	33,476	$4.3M	Reduce -55.3%
IWN iShares Russell 2000 Value E	0.04%	21,467	$3.4M	Reduce -47.1%
BWA Borgwarner Inc.	0.02%	64,987	$2.2M	Reduce -90.5%
ZIMV Zimvie Inc.	0.02%	206,401	$1.9M	Add +23.1%
IFS Intercorp Financial Services	0.01%	28,734	$1.1M	Add +55.1%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	0.01%	11,009	$935K	Add +54.4%
MTB M & T Bank Corp. filed as M & T BK CORP	0.01%	4,294	$833K	Add +94.7%
FICO Fair Isaac Corp.	0.00%	224	$409K	Reduce -5.5%
MSI Motorola Solutions Inc.	0.00%	764	$321K	Reduce -5.1%
BRC Brady Corporation Class A	0.00%	3,660	$249K	Reduce -5.2%
PGR Progressive Corp.	0.00%	785	$209K	Reduce -5.2%
DNB Dun & Bradstreet Holdings Inc.	0.00%	19,393	$176K	Reduce -99.5%

Portfolio Sells Q1 2025 → Q2 2025


SJM The JM Smucker Co.	Reduce -18.7%	1.70%	−0.92
IPG Interpublic Group of Cos Inc.	Reduce -39.7%	0.88%	−0.80
KMT Kennametal Inc.	Reduce -35.7%	1.29%	−0.64
CHKP Check Point Software Tech	Reduce -27.1%	1.24%	−0.58
PBH Prestige Consumer Healthcare	Reduce -12.6%	1.99%	−0.55
MAS Masco Corp.	Reduce -57.3%	0.29%	−0.48
DNB Dun & Bradstreet Holdings Inc.	Reduce -99.5%	0.00%	−0.42
FAF First American Financial	Reduce -5.1%	2.44%	−0.41
ADT Adt Inc.	Reduce -14.1%	2.23%	−0.36
CNP Centerpoint Energy Inc.	Reduce -46.6%	0.37%	−0.34
CNH CNH Industrial NV	Sold out	0.00%	−0.32
MHK Mohawk Industries Inc.	Reduce -1.6%	2.04%	−0.30
NTRS Northern Trust Corp.	Reduce -29.7%	1.98%	−0.29
AXTA Axalta Coating Systems Ltd.	Reduce -3.5%	1.34%	−0.27
MIDD Middleby Corp.	Reduce -5.7%	1.53%	−0.24
BOKF Bok Financial Corporation	Reduce -1.0%	1.98%	−0.23
WAL Western Alliance Bancorp	Reduce -48.5%	0.23%	−0.23
CVSA Covista Inc.	Reduce -25.9%	1.98%	−0.21
ABBV Abbvie Inc.	Sold out	0.00%	−0.21
BWA Borgwarner Inc.	Reduce -90.5%	0.02%	−0.21
PM Philip Morris International	Sold out	0.00%	−0.20
PARAA Paramount Global Class B	Reduce -13.0%	1.81%	−0.19
VZ Verizon Communications Inc.	Reduce -17.8%	0.57%	−0.19
ALL Allstate Corp.	Reduce -33.0%	0.27%	−0.16
COF Capital One Financial Corp.	Reduce -35.3%	0.45%	−0.16
BAC Bank of America Corp.	Reduce -43.1%	0.26%	−0.16
ZBH Zimmer Biomet Holdings Inc.	Reduce -15.6%	0.26%	−0.14
MSGS Madison Square Garden Sports	Reduce -9.7%	1.79%	−0.12
JLL Jones Lang Lasalle Inc.	Reduce -3.1%	2.91%	−0.11
GILD Gilead Sciences Inc.	Reduce -14.3%	0.46%	−0.10
TAP Molson Coors Beverage Co. Class B	Reduce -6.1%	0.25%	−0.10
SCHW Schwab (charles) Corp.	Reduce -27.3%	0.42%	−0.09
WEX Wex Inc.	Reduce -2.7%	0.67%	−0.09
KMX Carmax Inc.	Reduce -1.1%	0.42%	−0.09
CBRE CBRE Group Inc. Class A	Reduce -19.1%	0.37%	−0.07
HCKT The Hackett Group Inc.	Reduce -16.8%	0.15%	−0.07
SWK Stanley Black & Decker Inc.	Reduce -0.9%	0.33%	−0.06
VT Vanguard Tot World STK ETF	Reduce -55.3%	0.05%	−0.05
VXUS Vanguard Total Intl Stock	Sold out	0.00%	−0.05
IWN iShares Russell 2000 Value E	Reduce -47.1%	0.04%	−0.03
AFL Aflac Inc.	Reduce -1.3%	0.26%	−0.03
SNA Snap-on Inc.	Reduce -5.7%	0.12%	−0.02
BAP Credicorp Ltd.	Reduce -18.5%	0.37%	−0.02
MTN Vail Resorts Inc.	Reduce -3.8%	0.21%	−0.02
KB KB Financial Group Inc.-ADR	Reduce -50.1%	0.05%	−0.02
JHG Janus Henderson Group PLC	Reduce -5.2%	0.90%	−0.02
SSD Simpson Manufacturing Co. Inc.	Reduce -2.6%	0.19%	−0.01
BCO The Brink's Co.	Reduce -0.8%	1.40%	−0.01
KEYS Keysight Technologies Inc.	Reduce -6.6%	0.49%	−0.01
FICO Fair Isaac Corp.	Reduce -5.5%	0.00%	−0.00

Portfolio Buys Q1 2025 → Q2 2025


SPHR Sphere Entertainment Co.	Add +12.7%	3.36%	+0.94
OSW Onespaworld Holdings Ltd.	Add +23.3%	3.05%	+0.94
NCLH Norwegian Cruise Line Holdin	Add +36.2%	2.84%	+0.82
MSFT Microsoft Corp.	Add +72.0%	1.20%	+0.66
MSGE Madison Square Garden Entert	Add +1.6%	3.58%	+0.59
FSLR First Solar Inc.	New	0.58%	+0.58
APTV Aptiv PLC	Add +80.2%	1.07%	+0.53
GNRC Generac Holdings Inc.	Add +11.7%	2.93%	+0.52
MANU Manchester United PLC Class A	Add +5.2%	1.82%	+0.50
CRL Charles River Laboratories	Add +28.6%	2.43%	+0.49
ZBRA Zebra Technologies Corp. Class A	Add +50.0%	1.19%	+0.43
AQN Algonquin Power & Utilities	Add +88.6%	0.85%	+0.43
FISV Fiserv Inc.	Add +3784.1%	0.36%	+0.34
NVT Nvent Electric PLC	Add +17.2%	0.78%	+0.28
NVST Envista Holdings Corp.	Add +1.7%	2.74%	+0.27
LAZ Lazard Inc.	Add +2.4%	3.13%	+0.27
DIS The Walt Disney Co.	New	0.24%	+0.24
GS Goldman Sachs Group Inc.	Add +305.8%	0.29%	+0.24
BIO Bio-Rad Laboratories-A	Add +13.0%	2.24%	+0.17
NTAP Netapp Inc.	Add +21.2%	0.42%	+0.12
INTC Intel Corp.	Add +47.3%	0.36%	+0.10
CVS CVS Health Corp.	Add +14.2%	0.91%	+0.10
KKR KKR & Co. Inc.	Add +9.8%	0.46%	+0.08
VEA Vanguard Ftse Developed ETF	Add +84.7%	0.16%	+0.08
OC Owens Corning	Add +24.8%	0.22%	+0.03
MGPI MGP Ingredients Inc.	Add +14.9%	0.24%	+0.03
MOS The Mosaic Co.	Add +5.2%	0.06%	+0.02
MAT Mattel Inc.	Add +2.6%	3.18%	+0.01
B Barrick Mining Corp.	Add +12.6%	0.06%	+0.01
DHI D.R. Horton Inc.	Add +5.1%	0.21%	+0.01
IFS Intercorp Financial Services	Add +55.1%	0.01%	+0.01
MTB M & T Bank Corp.	Add +94.7%	0.01%	+0.00
KSPI JSC Kaspi.kz ADR	Add +54.4%	0.01%	+0.00
APA Apa Corp.	Add +21.6%	0.06%	+0.00
ZIMV Zimvie Inc.	Add +23.1%	0.02%	+0.00
SLB SLB Ltd.	Add +6.5%	0.41%	−0.08
GNTX Gentex Corp.	Add +3.9%	1.83%	−0.10
GCMG GCM Grosvenor Inc. Class A	Add +0.5%	0.58%	−0.11
CLB Core Laboratories Inc.	Add +25.5%	1.69%	−0.13
LESLIES INC	Add +4.7%	0.29%	−0.21

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