Ariel Investments

Q1 2022 13F · by John Rogers, CIO

As of: Mar 31, 2022
Filed: May 13, 2022
US stock: $11.3B · prev $11.9B
Positions: 106 · prev 104
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%

Moves107 since the prior filing

+4.4 pp in · −4.4 pp out

New 4 +0.05 pp
Added 57 +4.33 pp
Trimmed 44 −2.82 pp
Exited 2 −1.61 pp

The book

Diversified · behaves like 53 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 28% a year, about 3.6 years per position

Low
Moderate
High

Top 5 positions17% of US stock

SPHR Sphere Entertainment Co. trimmed+0.83 pp trimmed+0.834.5%
MAT Mattel, Inc. trimmed+0.17 pp trimmed+0.173.5%
BIDU Baidu, Inc. added+0.07 pp added+0.073.1%
PM Philip Morris International Inc. trimmed+0.01 pp trimmed+0.013.1%
MSFT Microsoft Corp added−0.09 pp added−0.092.8%

Positions106 in this filing · 2 exited


SPHRSphere Entertainment Co.	4.49%	6,078,166	$506M	trimmed−2%	+0.83 pp	8 q
MATMattel, Inc.	3.49%	17,719,012	$394M	trimmed−3%	+0.17 pp	28 q
BIDUBaidu, Inc.	3.10%	2,639,193	$349M	added+9%	+0.07 pp	36 q
PMPhilip Morris International Inc.	3.06%	3,671,156	$345M	trimmed−4%	+0.01 pp	35 q
MSFTMicrosoft Corp	2.75%	1,006,911	$310M	added+1%	−0.09 pp	36 q
BOKFBOK Financial Corp	2.74%	3,283,486	$308M	trimmed−1%	−0.20 pp	24 q
LAZLazard, Inc.	2.62%	8,560,437	$295M	added+5%	−0.37 pp	36 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	2.49%	5,773,334	$281M	trimmed−8%	+0.11 pp	9 q
KMTKennametal Inc.	2.46%	9,707,735	$278M	added+9%	−0.24 pp	32 q
JLLJones Lang LaSalle, Inc.	2.41%	1,136,329	$272M	added+1%	−0.14 pp	36 q
FAFFirst American Financial Corporation	2.36%	4,101,753	$266M	trimmed−16%	−0.85 pp	36 q
IPGThe Interpublic Group of Companies, Inc.	2.35%	7,484,567	$265M	trimmed−11%	−0.30 pp	36 q
BAPCredicorp LTD	2.30%	1,506,213	$259M	trimmed−2%	+0.72 pp	8 q
CLBCore Laboratories Inc.	2.30%	8,198,544	$259M	added+5%	+0.83 pp	8 q
SRCLStericycle Inc	2.27%	4,340,429	$256M	added+2%	+0.14 pp	17 q
NTRSNorthern Trust Corp	2.14%	2,070,873	$241M	added+8%	+0.21 pp	36 q
GNTXGentex Corp	2.12%	8,174,011	$238M	added+92%	+0.87 pp	3 q
SNASnap-on Incorporated	2.06%	1,129,250	$232M	added+2%	+0.05 pp	36 q
MHKMohawk Industries, Inc.	1.90%	1,723,343	$214M	added+27%	−0.19 pp	36 q
PARAParamount Global-class B	1.89%	5,639,997	$213M	added+11%	+0.60 pp	10 q
REZIResideo Technologies, Inc.	1.88%	8,889,988	$212M	added+49%	+0.57 pp	3 q
MSGSMadison Square Garden Sports Corp.	1.79%	1,122,903	$201M	added+5%	+0.23 pp	26 q
99803EURLaboratory Crp Of Amer Hldgs	1.67%	714,847	$188M	added+4%	−0.15 pp	33 q
KKRKKR & Co. Inc.	1.66%	3,206,381	$187M	added+10%	−0.17 pp	15 q
NLSNNielsen Holdings PLC	1.63%	6,755,059	$184M	trimmed−59%	−1.21 pp	21 q
AXTAAxalta Coating Systems Ltd.	1.61%	7,398,739	$182M	added+24%	−0.06 pp	5 q
MANUManchester United PLC	1.58%	12,289,486	$178M	added+12%	+0.27 pp	3 q
BYDBoyd Gaming Corporation	1.53%	2,629,438	$173M	added+63%	+0.64 pp	3 q
SJMThe J.M. Smucker Company	1.53%	1,275,899	$173M	trimmed−14%	−0.18 pp	36 q
CVSACovista Inc.	1.49%	5,641,162	$168M	added+12%	+0.24 pp	20 q
GILDGilead Sciences Inc	1.39%	2,638,916	$157M	added+9%	−0.09 pp	36 q
ADTADT Inc.	1.37%	20,348,343	$154M	trimmed−17%	−0.37 pp	4 q
OSWOneSpaWorld Holdings Limited	1.35%	14,944,734	$152M	added+2%	+0.11 pp	9 q
BCOThe Brink's Company	1.25%	2,071,566	$141M	added+1%	+0.12 pp	36 q
JNJJohnson & Johnson	1.21%	772,072	$137M	added+1%	+0.10 pp	36 q
NVTnVent Electric plc	1.21%	3,923,471	$136M	added0%	−0.04 pp	5 q
CBRECbre Group, Inc.	1.20%	1,475,089	$135M	trimmed−10%	−0.29 pp	36 q
AMGAffiliated Managers Group	1.17%	937,224	$132M	added+4%	−0.07 pp	15 q
JHGJanus Henderson Group PLC	1.06%	3,411,489	$119M	added+2%	−0.13 pp	20 q
MASMasco Corporation	0.86%	1,903,732	$97M	added+4%	−0.23 pp	14 q
GSGoldman Sachs Group Inc.	0.77%	263,915	$87M	added+10%	0.00 pp	36 q
LFUSLittelfuse Inc	0.77%	346,556	$86M	added+17%	−0.02 pp	36 q
RCLRoyal Caribbean Group	0.76%	1,022,510	$86M	added+56%	+0.34 pp	36 q
HP5AEquity Commonwealth	0.73%	2,905,341	$82M	added+44%	+0.29 pp	12 q
AFLAflac Inc.	0.72%	1,267,315	$82M	trimmed−18%	−0.04 pp	36 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.68%	3,528,503	$77M	added×2.1	+0.39 pp	9 q
SCHWThe Charles Schwab Corporation	0.64%	852,662	$72M	added+6%	+0.07 pp	9 q
SSDSimpson Manufacturing Co., Inc.	0.62%	637,237	$69M	trimmed−6%	−0.17 pp	36 q
DOXAmdocs Limited	0.62%	854,597	$70M	added+1%	+0.09 pp	17 q
BWABorgWarner Inc.	0.61%	1,773,700	$69M	added+2%	−0.05 pp	25 q
KEYSKeysight Technologies, Inc.	0.59%	419,229	$66M	added+1%	−0.14 pp	22 q
WBAWalgreens Boots Alliance, Inc	0.59%	1,495,847	$67M	trimmed−6%	−0.11 pp	8 q
CHKPCheck Point Software Technologies Ltd	0.59%	477,389	$66M	trimmed−2%	+0.11 pp	9 q
TCOMTrip.com Group Limited	0.58%	2,826,229	$65M	trimmed−10%	−0.07 pp	4 q
SWKStanley Black & Decker, Inc.	0.55%	441,881	$62M	added+25%	−0.01 pp	36 q
CRLCharles River Laboratories International, Inc.	0.53%	209,795	$60M	added+17%	−0.04 pp	36 q
KNKnowles Corporation	0.53%	2,783,700	$60M	trimmed−2%	−0.03 pp	14 q
BMYBristol-Myers Squibb Co.	0.52%	795,902	$58M	added+1%	+0.10 pp	9 q
CAHCardinal Health, Inc.	0.48%	956,749	$54M	trimmed−11%	+0.01 pp	22 q
ZBHZimmer Biomet Holdings, Inc.	0.47%	417,700	$53M	added+7%	+0.05 pp	36 q
KFYKorn Ferry	0.46%	790,355	$51M	added+3%	−0.03 pp	13 q
OMCOmnicom Group Inc.	0.42%	561,105	$48M	trimmed−9%	+0.04 pp	36 q
MEIMethode Electronics	0.40%	1,050,463	$45M	trimmed−3%	−0.05 pp	18 q
KMXCarMax Inc.	0.38%	441,010	$43M	added+53%	+0.06 pp	13 q
MTNVail Resorts, Inc.	0.38%	163,938	$43M	added+9%	−0.04 pp	9 q
VZVerizon Communications	0.38%	835,766	$43M	added+1%	+0.02 pp	30 q
TAPMolson Coors Beverage Company Class B	0.36%	757,117	$40M	trimmed−2%	+0.06 pp	14 q
PGRProgressive Corporation	0.36%	351,562	$40M	trimmed−57%	−0.35 pp	27 q
NTAPNetApp, Inc	0.34%	466,259	$39M	added+1%	−0.02 pp	8 q
ZBRAZebra Technologies Corporation	0.34%	93,106	$39M	added+11%	−0.08 pp	34 q
BIOBio-Rad Laboratories, Inc.Class A	0.31%	61,736	$35M	added+11%	−0.05 pp	36 q
VIVTelefonica Brasil, S.A.	0.28%	2,850,246	$32M	trimmed−0%	+0.07 pp	5 q
VEAVanguard FTSE Developed Markets ETF	0.28%	665,969	$32M	added+28%	+0.06 pp	36 q
LINDLindblad Expeditions Holdings Inc.	0.27%	2,046,988	$31M	added+84%	+0.12 pp	2 q
BRCBrady Corporation	0.24%	587,194	$27M	trimmed−2%	−0.03 pp	36 q
MIDDMiddleby Corp	0.24%	162,317	$27M	trimmed−2%	−0.04 pp	9 q
BSACBanco Santander-Chile	0.21%	1,028,798	$23M	trimmed−3%	+0.06 pp	33 q
EVREvercore Inc.	0.21%	213,007	$24M	trimmed−2%	−0.04 pp	10 q
IWNiShares Russell 2000 Value ETF	0.17%	118,496	$19M	added×3.0	+0.12 pp	12 q
APAAPA Corporation	0.16%	433,413	$18M	trimmed−14%	+0.05 pp	5 q
NOKNokia Corporation	0.15%	3,000,723	$16M	trimmed−5%	−0.02 pp	36 q
MOSThe Mosaic Company	0.14%	244,197	$16M	trimmed−29%	+0.03 pp	35 q
HMNHorace Mann Educators Corporation	0.12%	332,781	$14M	trimmed−3%	+0.01 pp	36 q
TPRTapestry, Inc.	0.12%	377,015	$14M	added+1%	−0.01 pp	18 q
HLIHoulihan Lokey, Inc.	0.10%	126,117	$11M	added+1%	−0.01 pp	25 q
NOVNOV Inc.	0.10%	580,510	$11M	trimmed−75%	−0.17 pp	36 q
VODVodafone Group PLC	0.10%	690,203	$11M	trimmed−0%	+0.01 pp	8 q
unresolvedGlaxosmithkline PLC	0.09%	245,849	$11M	trimmed−3%	0.00 pp	36 q
LMTLockheed Martin Corp.	0.09%	22,462	$10M	trimmed−2%	+0.02 pp	36 q
USBU.S. Bancorp	0.09%	197,902	$11M	added+1%	0.00 pp	35 q
ABXBarrick Mining Corporation	0.08%	383,555	$9M	trimmed−2%	+0.02 pp	4 q
BRK.BBERKSHIRE HATHAWAY Class B	0.08%	26,427	$9M	trimmed−91%	−0.63 pp	35 q
ORCLOracle Corp	0.07%	99,902	$8M	trimmed−2%	0.00 pp	34 q
WUThe Western Union Company	0.07%	449,292	$8M	added+5%	+0.01 pp	36 q
BNYBank of New York Mellon Corporation	0.06%	130,061	$6M	trimmed−2%	0.00 pp	36 q
HNGRHanger Inc.	0.05%	310,235	$6M	trimmed−2%	0.00 pp	31 q
TIMBTim S.a.	0.05%	396,301	$6M	added+5%	+0.01 pp	5 q
ZIMVZimVie Inc.	0.05%	267,290	$6M	new	+0.05 pp	new
ACWXiShares MSCI ACWI ex US ETF	0.02%	38,851	$2M	trimmed−15%	0.00 pp	24 q
MTBM&T Bank Corp.	0.02%	11,289	$2M	added×7.4	+0.02 pp	2 q
AZNNAstrazeneca Plc-spons ADR	0.01%	23,943	$2M	trimmed−3%	0.00 pp	6 q
NVSNovartis AG	0.01%	10,224	$897,000	trimmed−4%	0.00 pp	26 q
FICOFair Isaac Corporation	0.00%	558	$260,000	new	0.00 pp	new
FISVFiserv, Inc.	0.00%	2,232	$226,000	new	0.00 pp	new
IWSiShares Russell Mid-Cap Value ETF	0.00%	3,199	$383,000	new	0.00 pp	new
SNYSanofi	0.00%	5,385	$276,000	held	—	5 q
TGNATEGNA Inc.	—	−9,302,022	—	exited	−1.46 pp	—
SLCAU.s. Silica Holdings, Inc.	—	−1,905,214	—	exited	−0.15 pp	—