Ariel Investments

Q2 2022 13F · by John Rogers, CIO

As of: Jun 30, 2022
Filed: Aug 12, 2022
US stock: $10.0B · prev $11.3B
Positions: 112 · prev 106
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%

Moves112 since the prior filing

+3.5 pp in · −3.5 pp out

New 8 +0.45 pp
Added 67 +3.05 pp
Trimmed 35 −1.85 pp
Exited 2 −1.63 pp

The book

Diversified · behaves like 53 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 20% a year, about 5.1 years per position

Low
Moderate
High

Top 5 positions17% of US stock

BIDU Baidu, Inc. added+0.82 pp added+0.823.9%
PM Philip Morris International Inc. trimmed+0.53 pp trimmed+0.533.6%
MAT Mattel, Inc. trimmed+0.08 pp trimmed+0.083.6%
SPHR Sphere Entertainment Co. added−1.23 pp added−1.233.3%
LAZ Lazard, Inc. added+0.20 pp added+0.202.8%

Positions112 in this filing · 2 exited


BIDUBaidu, Inc.	3.92%	2,640,835	$393M	added0%	+0.82 pp	37 q
PMPhilip Morris International Inc.	3.59%	3,645,082	$360M	trimmed−1%	+0.53 pp	36 q
MATMattel, Inc.	3.57%	15,998,272	$357M	trimmed−10%	+0.08 pp	29 q
SPHRSphere Entertainment Co.	3.26%	6,199,863	$326M	added+2%	−1.23 pp	9 q
LAZLazard, Inc.	2.82%	8,720,442	$283M	added+2%	+0.20 pp	37 q
MSFTMicrosoft Corp	2.64%	1,027,975	$264M	added+2%	−0.11 pp	37 q
GNTXGentex Corp	2.56%	9,181,530	$257M	added+12%	+0.44 pp	4 q
BOKFBOK Financial Corp	2.49%	3,301,483	$250M	added+1%	−0.25 pp	25 q
REZIResideo Technologies, Inc.	2.47%	12,722,799	$247M	added+43%	+0.59 pp	4 q
KMTKennametal Inc.	2.46%	10,600,482	$246M	added+9%	0.00 pp	33 q
MHKMohawk Industries, Inc.	2.26%	1,823,523	$226M	added+6%	+0.36 pp	37 q
IPGThe Interpublic Group of Companies, Inc.	2.24%	8,154,888	$225M	added+9%	−0.11 pp	37 q
FAFFirst American Financial Corporation	2.23%	4,225,097	$224M	added+3%	−0.13 pp	37 q
NTRSNorthern Trust Corp	2.15%	2,231,495	$215M	added+8%	+0.01 pp	37 q
JLLJones Lang LaSalle, Inc.	2.14%	1,224,130	$214M	added+8%	−0.27 pp	37 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	2.10%	5,455,409	$210M	trimmed−6%	−0.39 pp	10 q
SNASnap-on Incorporated	2.00%	1,018,185	$201M	trimmed−10%	−0.06 pp	37 q
SRCLStericycle Inc	1.95%	4,462,021	$196M	added+3%	−0.32 pp	18 q
CLBCore Laboratories Inc.	1.82%	9,184,225	$182M	added+12%	−0.48 pp	9 q
BAPCredicorp LTD	1.81%	1,516,000	$182M	added+1%	−0.49 pp	9 q
CVSACovista Inc.	1.79%	4,972,772	$179M	trimmed−12%	+0.30 pp	21 q
99803EURLaboratory Crp Of Amer Hldgs	1.77%	756,683	$177M	added+6%	+0.10 pp	34 q
GILDGilead Sciences Inc	1.68%	2,717,408	$168M	added+3%	+0.29 pp	37 q
BYDBoyd Gaming Corporation	1.67%	3,356,471	$167M	added+28%	+0.14 pp	4 q
MSGSMadison Square Garden Sports Corp.	1.60%	1,060,561	$160M	trimmed−6%	−0.19 pp	27 q
AXTAAxalta Coating Systems Ltd.	1.60%	7,267,291	$161M	trimmed−2%	−0.01 pp	6 q
KKRKKR & Co. Inc.	1.54%	3,342,657	$155M	added+4%	−0.12 pp	16 q
PARAParamount Global-class B	1.51%	6,135,768	$151M	added+9%	−0.38 pp	11 q
JNJJohnson & Johnson	1.38%	779,151	$138M	added+1%	+0.17 pp	37 q
BCOThe Brink's Company	1.33%	2,188,942	$133M	added+6%	+0.08 pp	37 q
NVTnVent Electric plc	1.32%	4,207,676	$132M	added+7%	+0.11 pp	6 q
AMGAffiliated Managers Group	1.29%	1,109,950	$129M	added+18%	+0.12 pp	16 q
SJMThe J.M. Smucker Company	1.29%	1,012,115	$130M	trimmed−21%	−0.24 pp	37 q
MANUManchester United PLC	1.29%	11,604,535	$129M	trimmed−6%	−0.29 pp	4 q
CRLCharles River Laboratories International, Inc.	1.26%	589,639	$126M	added×2.8	+0.73 pp	37 q
OSWOneSpaWorld Holdings Limited	1.21%	16,899,551	$121M	added+13%	−0.14 pp	10 q
CBRECbre Group, Inc.	1.19%	1,625,069	$120M	added+10%	−0.01 pp	37 q
ADTADT Inc.	1.17%	19,089,105	$117M	trimmed−6%	−0.20 pp	5 q
ZBRAZebra Technologies Corporation	1.05%	358,716	$105M	added×3.9	+0.71 pp	35 q
LFUSLittelfuse Inc	1.00%	392,592	$100M	added+13%	+0.23 pp	37 q
MASMasco Corporation	1.00%	1,977,686	$100M	added+4%	+0.14 pp	15 q
HP5AEquity Commonwealth	0.94%	3,408,036	$94M	added+17%	+0.21 pp	13 q
GSGoldman Sachs Group Inc.	0.87%	294,159	$87M	added+11%	+0.10 pp	37 q
RCLRoyal Caribbean Group	0.85%	2,444,593	$85M	added×2.4	+0.09 pp	37 q
VZVerizon Communications	0.84%	1,651,643	$84M	added+98%	+0.46 pp	31 q
JHGJanus Henderson Group PLC	0.83%	3,533,307	$83M	added+4%	−0.23 pp	21 q
SCHWThe Charles Schwab Corporation	0.75%	1,195,422	$76M	added+40%	+0.11 pp	10 q
DOXAmdocs Limited	0.73%	872,695	$73M	added+2%	+0.11 pp	18 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.71%	6,407,001	$71M	added+82%	+0.03 pp	10 q
CHKPCheck Point Software Technologies Ltd	0.68%	560,223	$68M	added+17%	+0.09 pp	10 q
KEYSKeysight Technologies, Inc.	0.66%	477,424	$66M	added+14%	+0.07 pp	23 q
SSDSimpson Manufacturing Co., Inc.	0.64%	639,936	$64M	added0%	+0.02 pp	37 q
BWABorgWarner Inc.	0.63%	1,885,255	$63M	added+6%	+0.02 pp	26 q
BMYBristol-Myers Squibb Co.	0.63%	813,761	$63M	added+2%	+0.11 pp	10 q
KNKnowles Corporation	0.60%	3,495,052	$61M	added+26%	+0.07 pp	15 q
SWKStanley Black & Decker, Inc.	0.55%	527,585	$55M	added+19%	0.00 pp	37 q
AFLAflac Inc.	0.52%	941,920	$52M	trimmed−26%	−0.20 pp	37 q
WBAWalgreens Boots Alliance, Inc	0.51%	1,349,903	$51M	trimmed−10%	−0.08 pp	9 q
KFYKorn Ferry	0.50%	862,779	$50M	added+9%	+0.04 pp	14 q
CAHCardinal Health, Inc.	0.46%	886,259	$46M	trimmed−7%	−0.02 pp	23 q
MTNVail Resorts, Inc.	0.46%	210,289	$46M	added+28%	+0.08 pp	10 q
PBHPrestige Consumer Healthcare Inc.	0.45%	760,153	$45M	new	+0.45 pp	new
KMXCarMax Inc.	0.44%	483,966	$44M	added+10%	+0.06 pp	14 q
ZBHZimmer Biomet Holdings, Inc.	0.43%	411,892	$43M	trimmed−1%	−0.04 pp	37 q
NTAPNetApp, Inc	0.40%	620,447	$40M	added+33%	+0.06 pp	9 q
MEIMethode Electronics	0.39%	1,058,154	$39M	added+1%	−0.01 pp	19 q
TCOMTrip.com Group Limited	0.38%	1,405,042	$39M	trimmed−50%	−0.20 pp	5 q
LINDLindblad Expeditions Holdings Inc.	0.37%	4,516,707	$37M	added×2.2	+0.10 pp	3 q
BIOBio-Rad Laboratories, Inc.Class A	0.32%	63,903	$32M	added+4%	+0.01 pp	37 q
MIDDMiddleby Corp	0.31%	245,647	$31M	added+51%	+0.07 pp	10 q
BRCBrady Corporation	0.30%	642,472	$30M	added+9%	+0.06 pp	37 q
TAPMolson Coors Beverage Company Class B	0.30%	557,236	$30M	trimmed−26%	−0.06 pp	15 q
VIVTelefonica Brasil, S.A.	0.25%	2,766,858	$25M	trimmed−3%	−0.03 pp	6 q
VEAVanguard FTSE Developed Markets ETF	0.23%	565,474	$23M	trimmed−15%	−0.05 pp	37 q
PGRProgressive Corporation	0.19%	165,009	$19M	trimmed−53%	−0.17 pp	28 q
EVREvercore Inc.	0.18%	188,977	$18M	trimmed−11%	−0.03 pp	11 q
NOKNokia Corporation	0.18%	3,854,389	$18M	added+28%	+0.03 pp	37 q
OMCOmnicom Group Inc.	0.18%	287,752	$18M	trimmed−49%	−0.24 pp	37 q
BSACBanco Santander-Chile	0.17%	1,036,082	$17M	added+1%	−0.04 pp	34 q
NOVNOV Inc.	0.17%	1,019,697	$17M	added+76%	+0.07 pp	37 q
HMNHorace Mann Educators Corporation	0.14%	362,249	$14M	added+9%	+0.02 pp	37 q
APAAPA Corporation	0.12%	350,600	$12M	trimmed−19%	−0.04 pp	6 q
TPRTapestry, Inc.	0.12%	385,431	$12M	added+2%	0.00 pp	19 q
unresolvedGlaxosmithkline PLC	0.11%	263,090	$11M	added+7%	+0.02 pp	37 q
HLIHoulihan Lokey, Inc.	0.11%	142,312	$11M	added+13%	+0.01 pp	26 q
MOSThe Mosaic Company	0.11%	226,506	$11M	trimmed−7%	−0.03 pp	36 q
VODVodafone Group PLC	0.10%	665,998	$10M	trimmed−4%	0.00 pp	9 q
LMTLockheed Martin Corp.	0.09%	22,072	$9M	trimmed−2%	0.00 pp	37 q
USBU.S. Bancorp	0.09%	202,028	$9M	added+2%	0.00 pp	36 q
ABXBarrick Mining Corporation	0.07%	376,892	$7M	trimmed−2%	−0.01 pp	5 q
BRK.BBERKSHIRE HATHAWAY Class B	0.07%	27,063	$7M	added+2%	−0.01 pp	36 q
ORCLOracle Corp	0.07%	98,169	$7M	trimmed−2%	0.00 pp	35 q
WUThe Western Union Company	0.07%	441,501	$7M	trimmed−2%	0.00 pp	37 q
BNYBank of New York Mellon Corporation	0.05%	127,804	$5M	trimmed−2%	−0.01 pp	37 q
TIMBTim S.a.	0.05%	396,301	$5M	held	—	6 q
ZIMVZimVie Inc.	0.05%	327,159	$5M	added+22%	0.00 pp	2 q
HNGRHanger Inc.	0.04%	304,847	$4M	trimmed−2%	−0.01 pp	32 q
ACWXiShares MSCI ACWI ex US ETF	0.04%	97,965	$4M	added×2.5	+0.02 pp	25 q
MTBM&T Bank Corp.	0.02%	10,997	$2M	trimmed−3%	0.00 pp	3 q
AZNNAstrazeneca Plc-spons ADR	0.01%	22,684	$1M	trimmed−5%	0.00 pp	7 q
IWNiShares Russell 2000 Value ETF	0.01%	10,253	$1M	trimmed−91%	−0.16 pp	13 q
NVSNovartis AG	0.01%	9,989	$844,000	trimmed−2%	0.00 pp	27 q
DNBDun & Bradstreet Holdings, Inc.	0.00%	9,984	$150,000	new	0.00 pp	new
FICOFair Isaac Corporation	0.00%	486	$195,000	trimmed−13%	0.00 pp	2 q
FISVFiserv, Inc.	0.00%	2,496	$222,000	added+12%	0.00 pp	2 q
GNRCGenerac Holdings Inc	0.00%	896	$189,000	new	0.00 pp	new
HCKTHackett Group Inc (The).	0.00%	5,580	$106,000	new	0.00 pp	new
MSIMotorola Solutions, Inc. New	0.00%	829	$174,000	new	0.00 pp	new
PDCOPatterson Companies, Inc.	0.00%	5,073	$154,000	new	0.00 pp	new
REYNReynolds Consumer Products Inc.	0.00%	4,033	$110,000	new	0.00 pp	new
SNYSanofi	0.00%	5,385	$269,000	held	—	6 q
STSensata Technologies Holding plc	0.00%	4,155	$172,000	new	0.00 pp	new
NLSNNielsen Holdings PLC	—	−6,755,059	—	exited	−1.63 pp	—
IWSiShares Russell Mid-Cap Value ETF	—	−3,199	—	exited	0.00 pp	—