Ariel Investments

Q1 2021 13F · by John Rogers, CIO

As of: Mar 31, 2021
Filed: May 14, 2021
US stock: $10.2B · prev $8.9B
Positions: 136 · prev 140
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves149 since the prior filing

+8.6 pp in · −8.6 pp out

New 9 +2.62 pp
Added 54 +6.00 pp
Trimmed 73 −7.87 pp
Exited 13 −0.69 pp

The book

Diversified · behaves like 51 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 33% a year, about 3.0 years per position

Low
Moderate
High

Top 5 positions18% of US stock

Positions136 in this filing · 13 exited


BIDUBaidu, Inc.	5.24%	2,443,141	$532M	trimmed−17%	−1.90 pp	32 q
PMPhilip Morris International Inc.	3.72%	4,259,144	$378M	trimmed−3%	−0.39 pp	31 q
MSFTMicrosoft Corp	3.14%	1,353,508	$319M	trimmed−5%	−0.43 pp	32 q
FAFFirst American Financial Corporation	3.00%	5,372,135	$304M	added+23%	+0.46 pp	32 q
MATMattel, Inc.	3.00%	15,309,847	$305M	trimmed−4%	−0.13 pp	24 q
LAZLazard, Inc.	2.98%	6,948,954	$302M	added+25%	+0.34 pp	32 q
IPGThe Interpublic Group of Companies, Inc.	2.86%	9,952,652	$291M	added+2%	+0.28 pp	32 q
KMTKennametal Inc.	2.78%	7,066,614	$282M	added+16%	+0.28 pp	28 q
NLSNNielsen Holdings PLC	2.78%	11,235,762	$283M	added+3%	+0.21 pp	17 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	2.70%	6,710,727	$274M	trimmed−5%	+0.01 pp	5 q
BOKFBOK Financial Corp	2.63%	2,989,264	$267M	added+21%	+0.73 pp	20 q
SRCLStericycle Inc	2.45%	3,683,974	$249M	added+19%	+0.03 pp	13 q
MHKMohawk Industries, Inc.	2.38%	1,256,599	$242M	added+3%	+0.44 pp	32 q
SNASnap-on Incorporated	2.35%	1,035,842	$239M	trimmed−4%	+0.27 pp	32 q
SPHRSphere Entertainment Co.	2.08%	2,578,306	$211M	added+22%	−0.41 pp	4 q
JLLJones Lang LaSalle, Inc.	1.83%	1,039,686	$186M	added+2%	+0.13 pp	32 q
NTRSNorthern Trust Corp	1.83%	1,771,043	$186M	added+3%	+0.03 pp	32 q
GILDGilead Sciences Inc	1.80%	2,834,343	$183M	trimmed−5%	−0.16 pp	32 q
99803EURLaboratory Crp Of Amer Hldgs	1.78%	707,003	$180M	added+2%	+0.19 pp	29 q
KKRKKR & Co. Inc.	1.68%	3,492,835	$171M	added+2%	+0.12 pp	11 q
SJMThe J.M. Smucker Company	1.66%	1,330,088	$168M	added+38%	+0.41 pp	32 q
TGNATEGNA Inc.	1.47%	7,907,192	$149M	added+5%	+0.28 pp	24 q
JNJJohnson & Johnson	1.42%	875,407	$144M	trimmed−4%	−0.19 pp	32 q
AXTAAxalta Coating Systems Ltd.	1.40%	4,796,899	$142M	new	+1.40 pp	new
BCOThe Brink's Company	1.33%	1,699,438	$135M	added+2%	−0.02 pp	32 q
MSGNMSG Networks Inc.	1.27%	8,573,003	$129M	trimmed−15%	−0.41 pp	22 q
CBRECbre Group, Inc.	1.26%	1,620,939	$128M	trimmed−1%	+0.10 pp	32 q
CVSACovista Inc.	1.21%	3,094,596	$122M	added+22%	+0.24 pp	16 q
AMGAffiliated Managers Group	1.21%	825,603	$123M	added+4%	+0.30 pp	11 q
MDPMeredith Corporation	1.21%	4,112,855	$122M	trimmed−8%	+0.25 pp	32 q
BRK.BBERKSHIRE HATHAWAY Class B	1.19%	470,917	$120M	trimmed−28%	−0.52 pp	31 q
CRLCharles River Laboratories International, Inc.	1.17%	411,073	$119M	trimmed−0%	+0.01 pp	32 q
JHGJanus Henderson Group PLC	1.13%	3,686,224	$115M	added+65%	+0.31 pp	16 q
CLBCore Laboratories Inc.	1.07%	3,788,942	$109M	trimmed−16%	−0.28 pp	4 q
MTNVail Resorts, Inc.	1.03%	358,444	$105M	added+2%	−0.07 pp	5 q
MASMasco Corporation	1.01%	1,703,950	$102M	added+58%	+0.34 pp	10 q
OSWOneSpaWorld Holdings Limited	1.01%	9,672,146	$103M	added+18%	+0.08 pp	5 q
KEYSKeysight Technologies, Inc.	0.98%	692,519	$99M	trimmed−16%	−0.25 pp	18 q
KNKnowles Corporation	0.98%	4,743,675	$99M	added+2%	+0.01 pp	10 q
LFUSLittelfuse Inc	0.93%	358,143	$95M	trimmed−1%	−0.11 pp	32 q
GSGoldman Sachs Group Inc.	0.90%	278,459	$91M	trimmed−4%	+0.04 pp	32 q
WBAWalgreens Boots Alliance, Inc	0.84%	1,558,998	$86M	added+31%	+0.31 pp	4 q
NVTnVent Electric plc	0.83%	3,015,456	$84M	new	+0.83 pp	new
AFLAflac Inc.	0.78%	1,540,639	$79M	added+5%	+0.05 pp	32 q
PGRProgressive Corporation	0.75%	801,447	$77M	added+29%	+0.06 pp	23 q
SCHWThe Charles Schwab Corporation	0.75%	1,172,197	$76M	added+2%	+0.06 pp	5 q
BWABorgWarner Inc.	0.73%	1,588,433	$74M	trimmed−9%	−0.03 pp	21 q
DOXAmdocs Limited	0.72%	1,044,759	$73M	added+1%	−0.11 pp	13 q
SSDSimpson Manufacturing Co., Inc.	0.70%	680,927	$71M	added+9%	+0.04 pp	32 q
ZBHZimmer Biomet Holdings, Inc.	0.66%	419,002	$67M	trimmed−3%	−0.09 pp	32 q
VZVerizon Communications	0.65%	1,130,360	$66M	trimmed−1%	−0.11 pp	26 q
SLCAU.s. Silica Holdings, Inc.	0.64%	5,262,427	$65M	trimmed−41%	−0.07 pp	31 q
ZBRAZebra Technologies Corporation	0.64%	134,283	$65M	trimmed−21%	−0.10 pp	30 q
SWKStanley Black & Decker, Inc.	0.62%	314,059	$63M	trimmed−2%	−0.02 pp	32 q
CAHCardinal Health, Inc.	0.61%	1,017,546	$62M	added+23%	+0.11 pp	18 q
CHKPCheck Point Software Technologies Ltd	0.54%	489,094	$55M	added+47%	+0.04 pp	5 q
FLIRFLIR Systems, Inc. (DE)	0.53%	950,133	$54M	trimmed−55%	−0.51 pp	3 q
NTAPNetApp, Inc	0.53%	745,734	$54M	trimmed−0%	−0.03 pp	4 q
KFYKorn Ferry	0.51%	835,516	$52M	trimmed−1%	+0.10 pp	9 q
BAPCredicorp LTD	0.51%	375,583	$51M	added+48%	+0.04 pp	4 q
KMXCarMax Inc.	0.46%	348,521	$46M	trimmed−14%	+0.03 pp	9 q
BMYBristol-Myers Squibb Co.	0.44%	700,634	$44M	added×2.7	+0.26 pp	5 q
OMCOmnicom Group Inc.	0.44%	598,970	$44M	added+46%	+0.15 pp	32 q
MEIMethode Electronics	0.43%	1,028,622	$43M	added0%	−0.01 pp	14 q
HP5AEquity Commonwealth	0.42%	1,523,753	$42M	added+13%	0.00 pp	8 q
RCLRoyal Caribbean Group	0.42%	496,869	$43M	added+2%	+0.01 pp	32 q
EVREvercore Inc.	0.34%	259,683	$34M	trimmed−0%	+0.02 pp	6 q
MSGSMadison Square Garden Sports Corp.	0.33%	187,395	$34M	added+4%	−0.04 pp	22 q
PARAParamount Global-class B	0.33%	739,969	$33M	trimmed−80%	−1.22 pp	6 q
BSACBanco Santander-Chile	0.32%	1,290,504	$32M	added+53%	+0.14 pp	29 q
TPRTapestry, Inc.	0.32%	778,192	$32M	trimmed−47%	−0.19 pp	14 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.32%	1,192,582	$33M	added+5%	0.00 pp	5 q
TAPMolson Coors Beverage Company Class B	0.31%	617,173	$32M	added+44%	+0.09 pp	10 q
NOKNokia Corporation	0.31%	8,064,866	$32M	trimmed−2%	−0.05 pp	32 q
BRCBrady Corporation	0.30%	574,594	$31M	trimmed−0%	−0.04 pp	32 q
NOVNOV Inc.	0.30%	2,191,907	$30M	added+48%	+0.07 pp	32 q
BIOBio-Rad Laboratories, Inc.Class A	0.29%	51,301	$29M	added+4%	−0.03 pp	32 q
MIDDMiddleby Corp	0.28%	170,998	$28M	added+3%	+0.04 pp	5 q
HLIHoulihan Lokey, Inc.	0.26%	398,437	$27M	added0%	−0.04 pp	21 q
IWNiShares Russell 2000 Value ETF	0.26%	166,421	$27M	trimmed−17%	−0.04 pp	8 q
TISITeam, Inc.	0.26%	2,271,753	$26M	added+7%	0.00 pp	32 q
VIVTelefonica Brasil, S.A.	0.23%	2,933,085	$23M	new	+0.23 pp	new
VEAVanguard FTSE Developed Markets ETF	0.21%	435,395	$21M	trimmed−67%	−0.49 pp	32 q
WTWWillis Towers Watson Public Limited Company	0.17%	75,624	$17M	trimmed−27%	−0.08 pp	21 q
VODVodafone Group PLC	0.16%	858,397	$16M	added+4%	+0.01 pp	4 q
unresolvedGlaxosmithkline PLC	0.15%	428,734	$15M	trimmed−26%	−0.09 pp	32 q
HMNHorace Mann Educators Corporation	0.13%	314,902	$14M	added+2%	−0.02 pp	32 q
USBU.S. Bancorp	0.13%	246,899	$14M	trimmed−3%	0.00 pp	31 q
MATWMatthews International Corp	0.12%	310,025	$12M	added+11%	+0.03 pp	32 q
MOSThe Mosaic Company	0.12%	399,193	$13M	added+2%	+0.02 pp	31 q
ORCLOracle Corp	0.11%	164,456	$12M	added+1%	−0.01 pp	30 q
WUThe Western Union Company	0.10%	408,072	$10M	trimmed−0%	0.00 pp	32 q
LMTLockheed Martin Corp.	0.09%	24,597	$9M	added+41%	+0.02 pp	32 q
APAAPA Corporation	0.08%	428,684	$8M	new	+0.08 pp	new
BNYBank of New York Mellon Corporation	0.07%	142,828	$7M	trimmed−2%	0.00 pp	32 q
HNGRHanger Inc.	0.07%	298,114	$7M	trimmed−2%	−0.01 pp	27 q
KINKindred Biosciences, Inc.	0.06%	1,159,169	$6M	trimmed−40%	−0.03 pp	26 q
WBWeibo Corporation	0.06%	118,400	$6M	new	+0.06 pp	new
CSCOCisco Systems, Inc. (DE)	0.04%	70,108	$4M	trimmed−3%	0.00 pp	5 q
MINDMIND Technology, Inc. (DE)	0.04%	1,597,088	$4M	trimmed−39%	−0.03 pp	3 q
COWNCowen Inc. Class A	0.03%	82,973	$3M	trimmed−77%	−0.08 pp	18 q
ORBCORBCOMM, Inc.	0.03%	417,287	$3M	trimmed−68%	−0.08 pp	32 q
GSITGSI Technology	0.02%	267,945	$2M	trimmed−41%	−0.02 pp	18 q
GAIAGaia, Inc. Class A	0.02%	140,893	$2M	trimmed−74%	−0.04 pp	8 q
ACWXiShares MSCI ACWI ex US ETF	0.02%	45,502	$3M	trimmed−22%	−0.01 pp	20 q
NVSNovartis AG	0.02%	20,582	$2M	added+1%	0.00 pp	22 q
PCYOPure Cycle Corporation	0.02%	175,680	$2M	trimmed−68%	−0.05 pp	14 q
ALCOAlico Inc	0.01%	30,568	$913,000	trimmed−50%	−0.01 pp	2 q
AZNNAstrazeneca Plc-spons ADR	0.01%	26,790	$1M	added+1%	0.00 pp	2 q
ALOTAstroNova, Inc.	0.01%	79,320	$1M	trimmed−75%	−0.03 pp	32 q
unresolvedBallantyne Strong, Inc.	0.01%	472,135	$1M	trimmed−82%	−0.05 pp	32 q
CRAICRA International, Inc.	0.01%	11,050	$825,000	trimmed−75%	−0.01 pp	3 q
CSWCCapital Southwest Corp	0.01%	30,928	$685,000	trimmed−68%	−0.01 pp	30 q
CNTYCentury Casinos Inc	0.01%	143,403	$1M	trimmed−83%	−0.05 pp	29 q
CPIXCumberland Pharmaceuticals Inc	0.01%	212,370	$643,000	trimmed−74%	−0.02 pp	32 q
EMKREmcore Corp	0.01%	183,284	$1M	trimmed−74%	−0.03 pp	20 q
ENZBEnzo Biochem Inc	0.01%	237,992	$819,000	trimmed−73%	−0.01 pp	8 q
GRBKGreen Brick Partners, Inc	0.01%	24,182	$548,000	trimmed−29%	0.00 pp	19 q
LAKELakeland Industries Inc	0.01%	21,331	$594,000	trimmed−77%	−0.02 pp	12 q
MOVMovado Group, Inc.	0.01%	32,250	$918,000	trimmed−81%	−0.02 pp	21 q
TURN180 Degree Capital Corp.	0.01%	178,881	$1M	trimmed−77%	−0.05 pp	17 q
OESXOrion Energy Systems, Inc.	0.01%	103,967	$724,000	trimmed−17%	0.00 pp	32 q
RNWARealnetworks Inc	0.01%	289,776	$1M	trimmed−91%	−0.05 pp	31 q
RBCNRubicon Tech Inc	0.01%	53,798	$555,000	trimmed−7%	0.00 pp	16 q
unresolvedSafeguard Scientifics Inc.	0.01%	198,920	$1M	trimmed−45%	−0.02 pp	17 q
TRCTejon Ranch Co.	0.01%	62,425	$1M	trimmed−78%	−0.04 pp	15 q
TIMBTim S.a.	0.01%	61,703	$700,000	new	+0.01 pp	new
unresolvedVidler Water Resouces Inc	0.01%	68,779	$612,000	new	+0.01 pp	new
CRWSCrown Crafts Inc	0.00%	43,048	$333,000	trimmed−2%	0.00 pp	12 q
GLAEGlassbridge Enterprises Inc	0.00%	1,769	$124,000	trimmed−20%	0.00 pp	2 q
GIFIGulf Island Fabrication Inc	0.00%	30,900	$119,000	trimmed−77%	0.00 pp	32 q
NVONovo-Nordisk A/S	0.00%	4,119	$278,000	trimmed−10%	0.00 pp	4 q
OSSOne Stop Systems, Inc.	0.00%	23,745	$151,000	trimmed−73%	0.00 pp	3 q
RFILRF Industries Ltd	0.00%	50,110	$304,000	trimmed−2%	0.00 pp	4 q
SNYSanofi	0.00%	5,435	$269,000	new	0.00 pp	new
NSLRNeostellar Capital Corp.	0.00%	33,433	$453,000	new	0.00 pp	new
MTSCMTS Systems Corp	—	−300,551	—	exited	−0.20 pp	—
WOOFoot Locker Inc	—	−395,302	—	exited	−0.18 pp	—
JWNNordstrom, Inc.	—	−298,852	—	exited	−0.11 pp	—
ICEIntercontinental Exchange Inc.	—	−59,962	—	exited	−0.08 pp	—
9990302DApache Corp	—	−373,013	—	exited	−0.06 pp	—
PSTHPershing Square Tontine Holdings, Ltd.	—	−58,919	—	exited	−0.02 pp	—
SYNCSynacor Inc	—	−1,190,207	—	exited	−0.02 pp	—
ACTGAcacia Research Corporation	—	−122,189	—	exited	−0.01 pp	—
ZAGGZAGG Inc (Delaware)	—	−249,443	—	exited	−0.01 pp	—
IWSiShares Russell Mid-Cap Value ETF	—	−2,381	—	exited	0.00 pp	—
PEWPctel Inc	—	−58,275	—	exited	0.00 pp	—
PICOPICO Holdings, Inc. (DE)	—	−32,431	—	exited	0.00 pp	—
STRTStrattec Security Corp	—	−8,500	—	exited	0.00 pp	—