Ariel Investments

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), John W. Rogers Jr.'s Ariel Investments reported 108 stock positions worth $9.3 billion. Its top holding was Madison Square Garden Entert (MSGE) at 4.0% of the portfolio, followed by Affiliated Managers (AMG, 3.7%) and Norwegian Cruise Line Holdin (NCLH, 3.5%). Compared with Q3 2025, it opened 10 new positions, sold out of 9, added to 25 and reduced 70. The biggest buy was a new position in Omnicom (OMC) and the biggest sale an exit from Aptiv (APTV).

Most Recent 13F
Q2 2026
Notable People
John W. Rogers Jr.
Location
CHICAGO, IL
CIK
0000936753
Portfolio Value
$9.3B (Q4 2025)
SEC Filing
0000936753-26-000017 ↗ filed Feb 13, 2026

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $10.2B Q1 2024 Q2 2024: $9.2B Q2 2024 Q3 2024: $9.8B Q3 2024 Q4 2024: $9.4B Q4 2024 Q1 2025: $8.5B Q1 2025 Q2 2025: $8.8B Q2 2025 Q3 2025: $9.4B Q3 2025 Q4 2025: $9.3B $9.3B Q4 2025 Q1 2026: $8.9B Q1 2026 Q2 2026: $10.0B Q2 2026

Holdings 108 stocks · $9.3B
MSGE Madison Square Garden Entert 4.01% 6,881,315 $370.8M Reduce -11.1%
AMG Affiliated Managers Group 3.68% 1,182,223 $340.8M Reduce -6.5%
NCLH Norwegian Cruise Line Holdin 3.46% 14,351,367 $320.3M Add +18.8%
SPHR Sphere Entertainment Co. 3.25% 3,168,534 $301.3M Reduce -47.1%
JLL Jones Lang Lasalle Inc. 3.25% 893,230 $300.5M Reduce -6.1%
OSW Onespaworld Holdings Ltd. 3.14% 14,011,310 $290.6M Add +6.2%
CRL Charles River Laboratories 3.08% 1,427,771 $284.8M Reduce -4.2%
NVST Envista Holdings Corp. 2.81% 11,970,544 $259.9M Reduce -0.3%
LAZ Lazard Inc. 2.78% 5,296,822 $257.2M Add +1.0%
PBH Prestige Consumer Healthcare 2.73% 4,102,497 $253.1M Add +14.1%
MAT Mattel Inc. 2.69% 12,532,133 $248.6M Reduce -8.9%
FAF First American Financial 2.60% 3,917,150 $240.7M Add +5.2%
CG The Carlyle Group Inc. 2.52% 3,950,333 $233.5M Reduce -6.7%
MIDD Middleby Corp. 2.50% 1,558,645 $231.7M Add +22.4%
BIO Bio-Rad Laboratories-A 2.50% 764,672 $231.7M Reduce -5.5%
CLB Core Laboratories Inc. 2.37% 13,661,000 $219.0M Reduce -0.8%
REZI Resideo Technologies Inc. 2.32% 6,121,216 $215.0M Reduce -8.6%
BOKF Bok Financial Corporation 2.16% 1,689,307 $200.1M Reduce -1.8%
BYD Boyd Gaming Corp. 2.15% 2,340,172 $199.5M Reduce -10.1%
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC 2.12% 1,897,628 $196.3M Add +46.5%
GNRC Generac Holdings Inc. 2.10% 1,423,948 $194.2M Reduce -3.0%
MHK Mohawk Industries Inc. 2.03% 1,716,027 $187.6M Add +1.1%
MSGS Madison Square Garden Sports 2.02% 722,495 $186.9M Reduce -0.6%
GNTX Gentex Corp. 1.98% 7,889,928 $183.6M Add +9.3%
ADT Adt Inc. 1.88% 21,558,300 $174.0M Reduce -2.3%
NTRS Northern Trust Corp. 1.84% 1,248,921 $170.6M Reduce -2.8%
SJM The JM Smucker Co. filed as SMUCKER J M CO 1.70% 1,608,943 $157.4M Add +4.2%
AXTA Axalta Coating Systems Ltd. 1.70% 4,864,546 $157.2M Add +16.1%
MANU Manchester United PLC Class A 1.54% 8,982,161 $143.0M Add +0.6%
BCO The Brink's Co. 1.30% 1,027,444 $119.9M Reduce -16.2%
ZBRA Zebra Technologies Corp. Class A 1.25% 475,731 $115.5M Add +86.1%
AQN Algonquin Power & Utilities 1.06% 15,920,654 $97.9M Reduce -2.6%
LH Labcorp Holdings Inc. 0.98% 360,087 $90.3M Reduce -0.8%
OMC Omnicom Group 0.95% 1,088,333 $87.9M New
CHKP Check Point Software Tech 0.93% 464,185 $86.1M Reduce -4.5%
KN Knowles Corp. 0.93% 3,998,641 $85.7M Reduce -2.7%
MSFT Microsoft Corp. 0.90% 172,455 $83.4M Reduce -11.2%
LIND Lindblad Expeditions Holding 0.80% 5,118,819 $73.8M Reduce -7.3%
KMT Kennametal Inc. 0.73% 2,377,626 $67.5M Reduce -37.1%
FSLR First Solar Inc. 0.71% 251,565 $65.7M Reduce -22.7%
CVS CVS Health Corp. 0.71% 825,092 $65.5M Reduce -16.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.69% 557,647 $63.4M Add +11.5%
NVT Nvent Electric PLC 0.68% 613,021 $62.5M Reduce -28.7%
XRAY Dentsply Sirona Inc. 0.65% 5,274,740 $60.3M New
INTC Intel Corp. 0.61% 1,524,112 $56.2M Add +57.8%
LFUS Littelfuse Inc. 0.61% 221,498 $56.0M Reduce -1.7%
JHG Janus Henderson Group PLC 0.60% 1,169,327 $55.6M Reduce -42.8%
KEYS Keysight Technologies Inc. 0.57% 258,309 $52.5M Reduce -1.5%
GCMG GCM Grosvenor Inc. Class A 0.55% 4,508,199 $51.0M Add +0.5%
WEX Wex Inc. 0.54% 336,797 $50.2M Reduce -1.2%
SLB SLB Ltd. filed as SLB LIMITED 0.53% 1,285,090 $49.3M Reduce -1.2%
BMY Bristol-Myers Squibb Co. 0.43% 732,677 $39.5M New
COF Capital One Financial Corp. 0.42% 162,230 $39.3M Reduce -21.2%
CNP Centerpoint Energy Inc. 0.41% 996,778 $38.2M Reduce -3.0%
WBS Webster Financial Corp. 0.39% 578,996 $36.4M New
FDS Factset Research Systems Inc. 0.39% 125,439 $36.4M New
MTB M & T Bank Corp. filed as M & T BK CORP 0.39% 180,402 $36.3M Reduce -5.8%
PSKY Paramount Skydance Class B 0.37% 2,587,190 $34.7M Reduce -13.8%
NTAP Netapp Inc. 0.37% 322,860 $34.6M Reduce -6.0%
SCHW Schwab (charles) Corp. 0.37% 342,275 $34.2M Reduce -1.5%
CBRE CBRE Group Inc. Class A 0.37% 211,081 $33.9M Reduce -7.8%
KKR KKR & Co. Inc. 0.36% 264,916 $33.8M Add +3.7%
HPE Hewlett Packard Enterprise 0.34% 1,321,535 $31.7M New
SWK Stanley Black & Decker Inc. 0.34% 421,387 $31.3M Reduce -1.4%
KFY Korn Ferry 0.33% 466,090 $30.8M Reduce -1.9%
T AT&T Inc. 0.32% 1,202,446 $29.9M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.31% 517,442 $28.5M Reduce -4.1%
MAS Masco Corp. 0.28% 405,488 $25.7M Add +1.7%
GILD Gilead Sciences Inc. 0.27% 205,052 $25.2M Reduce -6.3%
TAP Molson Coors Beverage Co. Class B 0.26% 515,945 $24.1M Add +12.6%
RLI Rli Corp. 0.26% 373,173 $23.9M New
AFL Aflac Inc. 0.25% 212,072 $23.4M Reduce -1.5%
KMX Carmax Inc. 0.24% 563,483 $21.8M Reduce -1.4%
FISV Fiserv Inc. 0.23% 321,025 $21.6M Add +26.9%
HUM Humana Inc. 0.23% 82,807 $21.2M Reduce -5.9%
FDX FedEx Corp. 0.22% 71,405 $20.6M Reduce -5.9%
MGPI MGP Ingredients Inc. 0.17% 629,467 $15.3M Reduce -2.6%
MTN Vail Resorts Inc. 0.16% 112,211 $14.9M Reduce -2.6%
SSD Simpson Manufacturing Co. Inc. 0.16% 91,389 $14.8M Reduce -1.6%
SNA Snap-on Inc. 0.12% 32,694 $11.3M Reduce -0.5%
B Barrick Mining Corp. 0.10% 216,126 $9.4M Reduce -11.6%
JNJ Johnson & Johnson 0.10% 43,260 $9.0M Reduce -16.6%
PHIN Phinia Inc. 0.09% 140,144 $8.8M Reduce -0.0%
HCKT The Hackett Group Inc. 0.09% 428,199 $8.4M Reduce -1.7%
APA Apa Corp. 0.08% 297,339 $7.3M Reduce -0.7%
LMT Lockheed Martin Corp. 0.07% 13,446 $6.5M Reduce -1.1%
CVX Chevron Corp. 0.07% 41,499 $6.3M No change
IWN iShares Russell 2000 Value E 0.07% 33,319 $6.0M Reduce -25.9%
LESL Leslie's Inc. 0.05% 2,836,373 $4.7M Reduce -3.6%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.05% 51,315 $4.4M No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.04% 15,357 $4.0M Add +12.6%
MOS The Mosaic Co. 0.04% 147,037 $3.5M Reduce -0.9%
ORCL Oracle Corp. 0.03% 16,384 $3.2M Reduce -0.1%
TSM Taiwan Semiconductor-SP ADR 0.03% 10,162 $3.1M Reduce -9.7%
BWA Borgwarner Inc. 0.03% 64,987 $2.9M No change
GS Goldman Sachs Group Inc. 0.03% 3,158 $2.8M Reduce -0.2%
BAP Credicorp Ltd. 0.02% 5,737 $1.6M Add +9.4%
VEA Vanguard Ftse Developed ETF 0.02% 24,473 $1.5M Reduce -57.5%
IFS Intercorp Financial Services 0.02% 34,668 $1.5M Add +7.7%
CPA Copa Holdings SA Class A 0.01% 8,752 $1.1M New

Show all 108 holdings

Portfolio Sells Q3 2025 → Q4 2025
APTV Aptiv PLC Sold out 0.00% −1.06
IPG Interpublic Group of Cos Inc. Sold out 0.00% −0.95
REZI Resideo Technologies Inc. Reduce -8.6% 2.32% −0.77
SPHR Sphere Entertainment Co. Reduce -47.1% 3.25% −0.73
VZ Verizon Communications Inc. Sold out 0.00% −0.55
GNRC Generac Holdings Inc. Reduce -3.0% 2.10% −0.53
ZBH Zimmer Biomet Holdings Inc. Reduce -99.2% 0.00% −0.41
JHG Janus Henderson Group PLC Reduce -42.8% 0.60% −0.37
CG The Carlyle Group Inc. Reduce -6.7% 2.52% −0.32
BYD Boyd Gaming Corp. Reduce -10.1% 2.15% −0.25
WAL Western Alliance Bancorp Sold out 0.00% −0.24
BCO The Brink's Co. Reduce -16.2% 1.30% −0.24
DHI D.R. Horton Inc. Sold out 0.00% −0.23
PSKY Paramount Skydance Class B Reduce -13.8% 0.37% −0.23
NVT Nvent Electric PLC Reduce -28.7% 0.68% −0.23
ADT Adt Inc. Reduce -2.3% 1.88% −0.18
MSFT Microsoft Corp. Reduce -11.2% 0.90% −0.17
ALL Allstate Corp. Sold out 0.00% −0.16
CHKP Check Point Software Tech Reduce -4.5% 0.93% −0.15
LH Labcorp Holdings Inc. Reduce -0.8% 0.98% −0.14
LESL Leslie's Inc. Reduce -3.6% 0.05% −0.12
KMT Kennametal Inc. Reduce -37.1% 0.73% −0.12
KN Knowles Corp. Reduce -2.7% 0.93% −0.10
CVS CVS Health Corp. Reduce -16.6% 0.71% −0.09
NTAP Netapp Inc. Reduce -6.0% 0.37% −0.06
FSLR First Solar Inc. Reduce -22.7% 0.71% −0.06
VXUS Vanguard Total Intl Stock Sold out 0.00% −0.06
COF Capital One Financial Corp. Reduce -21.2% 0.42% −0.04
VT Vanguard Tot World STK ETF Sold out 0.00% −0.04
KMX Carmax Inc. Reduce -1.4% 0.24% −0.04
WEX Wex Inc. Reduce -1.2% 0.54% −0.03
KFY Korn Ferry Reduce -1.9% 0.33% −0.02
MTN Vail Resorts Inc. Reduce -2.6% 0.16% −0.02
VEA Vanguard Ftse Developed ETF Reduce -57.5% 0.02% −0.02
IWN iShares Russell 2000 Value E Reduce -25.9% 0.07% −0.02
LFUS Littelfuse Inc. Reduce -1.7% 0.61% −0.02
CBRE CBRE Group Inc. Class A Reduce -7.8% 0.37% −0.02
MOS The Mosaic Co. Reduce -0.9% 0.04% −0.02
HUM Humana Inc. Reduce -5.9% 0.23% −0.02
ORCL Oracle Corp. Reduce -0.1% 0.03% −0.01
CNP Centerpoint Energy Inc. Reduce -3.0% 0.41% −0.01
MTB M & T Bank Corp. Reduce -5.8% 0.39% −0.01
SSD Simpson Manufacturing Co. Inc. Reduce -1.6% 0.16% −0.01
NTRS Northern Trust Corp. Reduce -2.8% 1.84% −0.01
JNJ Johnson & Johnson Reduce -16.6% 0.10% −0.01
AFL Aflac Inc. Reduce -1.5% 0.25% −0.00
LMT Lockheed Martin Corp. Reduce -1.1% 0.07% −0.00
INFY Infosys Ltd.-SP ADR Sold out 0.00% −0.00
MGPI MGP Ingredients Inc. Reduce -2.6% 0.17% −0.00
SWK Stanley Black & Decker Inc. Reduce -1.4% 0.34% −0.00

Portfolio Buys Q3 2025 → Q4 2025
OMC Omnicom Group New 0.95% +0.95
MIDD Middleby Corp. Add +22.4% 2.50% +0.69
XRAY Dentsply Sirona Inc. New 0.65% +0.65
ZBRA Zebra Technologies Corp. Class A Add +86.1% 1.25% +0.44
BMY Bristol-Myers Squibb Co. New 0.43% +0.43
AXTA Axalta Coating Systems Ltd. Add +16.1% 1.70% +0.42
WBS Webster Financial Corp. New 0.39% +0.39
FDS Factset Research Systems Inc. New 0.39% +0.39
HPE Hewlett Packard Enterprise New 0.34% +0.34
PBH Prestige Consumer Healthcare Add +14.1% 2.73% +0.33
T AT&T Inc. New 0.32% +0.32
NCLH Norwegian Cruise Line Holdin Add +18.8% 3.46% +0.28
INTC Intel Corp. Add +57.8% 0.61% +0.26
RLI Rli Corp. New 0.26% +0.26
OSW Onespaworld Holdings Ltd. Add +6.2% 3.14% +0.16
MANU Manchester United PLC Class A Add +0.6% 1.54% +0.10
DIS The Walt Disney Co. Add +11.5% 0.69% +0.07
FAF First American Financial Add +5.2% 2.60% +0.04
TAP Molson Coors Beverage Co. Class B Add +12.6% 0.26% +0.04
CPA Copa Holdings SA Class A New 0.01% +0.01
KKR KKR & Co. Inc. Add +3.7% 0.36% +0.01
BAP Credicorp Ltd. Add +9.4% 0.02% +0.00
IFS Intercorp Financial Services Add +7.7% 0.02% +0.00
HDB HDFC Bank Ltd.-ADR Add +42.3% 0.01% +0.00
IWD iShares Russell 1000 Value E New 0.00% +0.00
KSPI JSC Kaspi.kz ADR Add +7.4% 0.01% +0.00
AJG Arthur J Gallagher & Co. Add +12.6% 0.04% −0.00
CVSA Covista Inc. Add +46.5% 2.12% −0.02
MAS Masco Corp. Add +1.7% 0.28% −0.02
GCMG GCM Grosvenor Inc. Class A Add +0.5% 0.55% −0.03
SJM The JM Smucker Co. Add +4.2% 1.70% −0.09
FISV Fiserv Inc. Add +26.9% 0.23% −0.12
LAZ Lazard Inc. Add +1.0% 2.78% −0.18
GNTX Gentex Corp. Add +9.3% 1.98% −0.20
MHK Mohawk Industries Inc. Add +1.1% 2.03% −0.31

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 106$10.0BMSGE, OSW, CRL, AMG, JLL
Q1 2026 106$8.9BMSGE, OSW, JLL, AMG, SPHR
Q4 2025 108$9.3BMSGE, AMG, NCLH, SPHR, JLL
Q3 2025 107$9.4BSPHR, MSGE, AMG, NCLH, REZI
Q2 2025 104$8.8BMSGE, SPHR, MAT, LAZ, OSW
Q1 2025 106$8.5BMAT, JLL, MSGE, LAZ, FAF
Q4 2024 110$9.4BLAZ, MSGE, JLL, AMG, MAT
Q3 2024 110$9.8BJLL, LAZ, GNRC, MSGE, MAT
Q2 2024 115$9.2BJLL, GNRC, MAT, ADT, LAZ
Q1 2024 115$10.2BMAT, JLL, MSGE, GNRC, REZI