Ariel Investments

Q2 2024 13F · by John Rogers, CIO

As of: Jun 30, 2024
Filed: Aug 14, 2024
US stock: $9.2B · prev $10.2B
Positions: 115 · prev 115
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%

Moves121 since the prior filing

+5.1 pp in · −5.0 pp out

New 6 +1.94 pp
Added 40 +3.14 pp
Trimmed 69 −3.74 pp
Exited 6 −1.29 pp

The book

Diversified · behaves like 59 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 25% a year, about 4.0 years per position

Low
Moderate
High

Top 5 positions13% of US stock

JLL Jones Lang LaSalle, Inc. trimmed+0.19 pp trimmed+0.193.0%
GNRC Generac Holdings Inc trimmed+0.10 pp trimmed+0.102.8%
MAT Mattel, Inc. trimmed−0.43 pp trimmed−0.432.6%
ADT ADT Inc. added+0.54 pp added+0.542.5%
LAZ Lazard, Inc. trimmed−0.10 pp trimmed−0.102.5%

Positions115 in this filing · 6 exited


JLLJones Lang LaSalle, Inc.	2.95%	1,326,074	$272M	trimmed−8%	+0.19 pp	45 q
GNRCGenerac Holdings Inc	2.76%	1,928,250	$255M	trimmed−10%	+0.10 pp	9 q
MATMattel, Inc.	2.61%	14,818,010	$241M	trimmed−5%	−0.43 pp	37 q
ADTADT Inc.	2.50%	30,360,559	$231M	added+3%	+0.54 pp	13 q
LAZLazard, Inc.	2.50%	6,041,656	$231M	trimmed−4%	−0.10 pp	45 q
AMGAffiliated Managers Group	2.44%	1,442,817	$225M	added+9%	+0.25 pp	24 q
MSGEMadison Square Garden Entertainment Corp.	2.43%	6,550,028	$224M	trimmed−6%	−0.27 pp	5 q
NTRSNorthern Trust Corp	2.40%	2,644,205	$222M	added+4%	+0.17 pp	45 q
CHKPCheck Point Software Technologies Ltd	2.39%	1,336,278	$220M	trimmed−3%	+0.16 pp	18 q
CLBCore Laboratories Inc.	2.26%	10,292,296	$209M	trimmed−5%	+0.44 pp	17 q
GNTXGentex Corp	2.23%	6,103,580	$206M	trimmed−5%	−0.05 pp	12 q
MHKMohawk Industries, Inc.	2.23%	1,816,676	$206M	trimmed−3%	−0.18 pp	45 q
KMTKennametal Inc.	2.21%	8,660,974	$204M	trimmed−6%	−0.05 pp	41 q
CVSACovista Inc.	2.17%	2,941,733	$201M	trimmed−4%	+0.61 pp	29 q
CGThe Carlyle Group Inc.	2.15%	4,937,725	$198M	added+1%	−0.10 pp	7 q
FAFFirst American Financial Corporation	2.11%	3,609,697	$195M	added+3%	0.00 pp	45 q
PBHPrestige Consumer Healthcare Inc.	2.11%	2,835,203	$195M	added+11%	+0.28 pp	9 q
SPHRSphere Entertainment Co.	2.10%	5,538,121	$194M	added+8%	−0.37 pp	17 q
RCLRoyal Caribbean Group	2.04%	1,184,249	$189M	trimmed−4%	+0.36 pp	45 q
CRLCharles River Laboratories International, Inc.	2.03%	906,137	$187M	trimmed−3%	−0.46 pp	45 q
REZIResideo Technologies, Inc.	2.03%	9,590,360	$188M	trimmed−20%	−0.62 pp	12 q
MSGSMadison Square Garden Sports Corp.	1.98%	970,156	$183M	added+4%	+0.28 pp	35 q
BOKFBOK Financial Corp	1.90%	1,915,225	$176M	trimmed−11%	−0.05 pp	33 q
BYDBoyd Gaming Corporation	1.81%	3,031,691	$167M	added+12%	+0.02 pp	12 q
IPGThe Interpublic Group of Companies, Inc.	1.80%	5,710,448	$166M	added+4%	+0.03 pp	45 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	1.78%	9,871,152	$164M	added+11%	−0.09 pp	18 q
unresolvedLeslies Inc	1.66%	36,601,368	$153M	added+47%	+0.06 pp	7 q
AXTAAxalta Coating Systems Ltd.	1.63%	4,406,964	$151M	trimmed−2%	+0.12 pp	14 q
OSWOneSpaWorld Holdings Limited	1.63%	9,814,630	$151M	trimmed−19%	+0.06 pp	18 q
SJMThe J.M. Smucker Company	1.60%	1,354,999	$148M	added+56%	+0.52 pp	45 q
PARAParamount Global-class B	1.58%	14,042,265	$146M	added+17%	+0.18 pp	19 q
BCOThe Brink's Company	1.41%	1,270,577	$130M	trimmed−26%	−0.15 pp	45 q
MANUManchester United PLC	1.40%	8,007,070	$129M	added+51%	+0.67 pp	12 q
MSFTMicrosoft Corp	1.28%	265,438	$119M	trimmed−27%	−0.23 pp	45 q
NCLHNorwegian Cruise Line Holdings Ltd.	1.16%	5,681,276	$107M	trimmed−3%	−0.04 pp	18 q
ZBRAZebra Technologies Corporation	1.10%	330,386	$102M	trimmed−13%	−0.03 pp	43 q
BIDUBaidu, Inc.	1.02%	1,093,252	$95M	trimmed−4%	−0.16 pp	45 q
LHLabcorp Holdings Inc.	0.98%	444,431	$90M	new	+0.98 pp	new
SRCLStericycle Inc	0.96%	1,526,043	$89M	trimmed−64%	−1.24 pp	26 q
KNKnowles Corporation	0.95%	5,092,049	$88M	trimmed−2%	+0.13 pp	23 q
LFUSLittelfuse Inc	0.91%	328,921	$84M	trimmed−5%	+0.08 pp	45 q
GSGoldman Sachs Group Inc.	0.89%	181,857	$82M	trimmed−10%	+0.06 pp	45 q
LINDLindblad Expeditions Holdings Inc.	0.89%	8,565,068	$83M	trimmed−4%	+0.08 pp	11 q
JHGJanus Henderson Group PLC	0.82%	2,256,434	$76M	added+1%	+0.10 pp	29 q
NVTnVent Electric plc	0.82%	992,935	$76M	trimmed−29%	−0.22 pp	14 q
9991429DAptiv Irish Holdings Ltd	0.80%	1,053,630	$74M	trimmed−2%	−0.04 pp	2 q
MASMasco Corporation	0.79%	1,093,202	$73M	added+4%	−0.02 pp	23 q
VZVerizon Communications	0.77%	1,724,311	$71M	trimmed−2%	+0.04 pp	39 q
BAPCredicorp LTD	0.72%	409,636	$66M	trimmed−26%	−0.20 pp	17 q
MIDDMiddleby Corp	0.68%	510,127	$63M	added+58%	+0.17 pp	18 q
NTAPNetApp, Inc	0.67%	480,865	$62M	trimmed−27%	−0.01 pp	17 q
COFCapital One Financial	0.65%	436,335	$60M	added+65%	+0.26 pp	2 q
KMXCarMax Inc.	0.56%	710,003	$52M	added+9%	0.00 pp	22 q
DVADaVita Inc.	0.54%	359,604	$50M	trimmed−42%	−0.30 pp	3 q
KFYKorn Ferry	0.54%	740,505	$50M	trimmed−9%	+0.01 pp	22 q
AFLAflac Inc.	0.50%	516,974	$46M	trimmed−4%	+0.05 pp	45 q
GCMGGCM Grosvenor Inc. Class A	0.48%	4,546,096	$44M	added+1%	+0.05 pp	8 q
MTNVail Resorts, Inc.	0.48%	247,095	$45M	added+11%	−0.01 pp	18 q
CBRECbre Group, Inc.	0.47%	484,995	$43M	trimmed−31%	−0.20 pp	45 q
SCHWThe Charles Schwab Corporation	0.47%	583,935	$43M	trimmed−30%	−0.12 pp	18 q
SWKStanley Black & Decker, Inc.	0.47%	547,494	$44M	trimmed−4%	−0.08 pp	45 q
KEYSKeysight Technologies, Inc.	0.44%	297,978	$41M	added+12%	+0.03 pp	31 q
NOVNOV Inc.	0.44%	2,117,843	$40M	trimmed−0%	+0.03 pp	45 q
CVSCvs Health Corporation	0.43%	669,084	$40M	added+10%	−0.05 pp	2 q
DNBDun & Bradstreet Holdings, Inc.	0.42%	4,192,449	$39M	trimmed−4%	−0.01 pp	9 q
MGPIMGP Ingredients Inc	0.42%	515,796	$38M	added+93%	+0.19 pp	2 q
TFCTruist Financial Corporation	0.42%	995,605	$39M	trimmed−3%	+0.03 pp	3 q
ALLThe Allstate Corporation	0.41%	240,042	$38M	new	+0.41 pp	new
INTCIntel Corp	0.41%	1,230,983	$38M	trimmed−6%	−0.16 pp	3 q
KKRKKR & Co. Inc.	0.37%	321,348	$34M	trimmed−32%	−0.10 pp	24 q
PMPhilip Morris International Inc.	0.35%	318,937	$32M	trimmed−25%	−0.03 pp	44 q
ZBHZimmer Biomet Holdings, Inc.	0.35%	297,401	$32M	added+3%	−0.02 pp	45 q
BWABorgWarner Inc.	0.32%	926,171	$30M	trimmed−8%	−0.02 pp	34 q
CNHCnh Industrial N.v.	0.32%	2,933,416	$30M	added+17%	0.00 pp	3 q
BIOBio-Rad Laboratories, Inc.Class A	0.31%	104,187	$28M	added+60%	+0.09 pp	45 q
TDCTeradata Corporation	0.30%	808,353	$28M	added+1%	0.00 pp	2 q
SSDSimpson Manufacturing Co., Inc.	0.29%	157,420	$27M	trimmed−54%	−0.39 pp	45 q
BMYBristol-Myers Squibb Co.	0.28%	619,211	$26M	trimmed−2%	−0.06 pp	18 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.28%	150,961	$26M	trimmed−6%	+0.07 pp	3 q
EVREvercore Inc.	0.27%	121,221	$25M	trimmed−4%	+0.03 pp	19 q
GILDGilead Sciences Inc	0.27%	368,411	$25M	trimmed−50%	−0.27 pp	45 q
WBAWalgreens Boots Alliance, Inc	0.27%	2,038,878	$25M	added+11%	−0.12 pp	17 q
TAPMolson Coors Beverage Company Class B	0.26%	463,517	$24M	added+13%	−0.01 pp	23 q
DHID.R. Horton Inc.	0.25%	165,626	$23M	new	+0.25 pp	new
LENLennar Corporation Class A	0.25%	156,924	$24M	new	+0.25 pp	new
BRCBrady Corporation	0.20%	279,010	$18M	trimmed−4%	+0.03 pp	45 q
KBKB Financial Group Inc	0.19%	302,049	$17M	trimmed−5%	+0.03 pp	3 q
HCKTHackett Group Inc (The).	0.16%	660,355	$14M	trimmed−4%	0.00 pp	9 q
VTVanguard Total World Stock ETF	0.13%	106,282	$12M	trimmed−43%	−0.07 pp	3 q
SNASnap-on Incorporated	0.12%	40,976	$11M	trimmed−44%	−0.09 pp	45 q
VEAVanguard FTSE Developed Markets ETF	0.10%	182,114	$9M	added+17%	+0.02 pp	45 q
ORCLOracle Corp	0.09%	60,420	$9M	trimmed−2%	+0.01 pp	43 q
APAAPA Corporation	0.07%	209,848	$6M	added+10%	+0.01 pp	14 q
BACBank of America Corporation	0.07%	171,684	$7M	trimmed−3%	0.00 pp	8 q
LMTLockheed Martin Corp.	0.07%	13,196	$6M	trimmed−3%	+0.01 pp	45 q
USBU.S. Bancorp	0.07%	156,220	$6M	trimmed−3%	0.00 pp	44 q
CVXChevron Corporation	0.06%	32,601	$5M	trimmed−0%	+0.01 pp	4 q
PHINPHINIA Inc.	0.06%	144,434	$6M	trimmed−3%	0.00 pp	4 q
ABXBarrick Mining Corporation	0.05%	252,257	$4M	added0%	+0.01 pp	13 q
VXUSVanguard Total International Stock ETF	0.05%	79,637	$5M	new	+0.05 pp	new
JNJJohnson & Johnson	0.04%	23,563	$3M	trimmed−3%	0.00 pp	45 q
MOSThe Mosaic Company	0.04%	132,678	$4M	trimmed−3%	0.00 pp	44 q
WUThe Western Union Company	0.04%	340,128	$4M	trimmed−8%	−0.01 pp	45 q
VIVTelefonica Brasil, S.A.	0.03%	311,580	$3M	trimmed−3%	0.00 pp	14 q
ZIMVZimVie Inc.	0.02%	80,465	$1M	trimmed−25%	0.00 pp	10 q
FICOFair Isaac Corporation	0.01%	338	$503,167	trimmed−10%	+0.01 pp	10 q
FISVFiserv, Inc.	0.01%	4,642	$691,844	added+1%	0.00 pp	10 q
IWNiShares Russell 2000 Value ETF	0.01%	6,299	$959,338	trimmed−85%	−0.05 pp	21 q
KSPIJoint Stock Company Kaspi.kz American Depository Shares	0.00%	2,210	$285,112	new	0.00 pp	new
MTBM&T Bank Corp.	0.00%	2,653	$401,558	added+1%	0.00 pp	11 q
MSIMotorola Solutions, Inc. New	0.00%	933	$360,185	added+1%	0.00 pp	9 q
PDCOPatterson Companies, Inc.	0.00%	9,025	$217,683	added+1%	0.00 pp	9 q
PGRProgressive Corporation	0.00%	1,046	$217,265	trimmed−25%	0.00 pp	36 q
REYNReynolds Consumer Products Inc.	0.00%	7,175	$200,757	added+1%	0.00 pp	9 q
STSensata Technologies Holding plc	0.00%	8,313	$310,823	added+1%	0.00 pp	9 q
99803EURLaboratory Crp Of Amer Hldgs	—	−544,574	—	exited	−1.17 pp	—
HMNHorace Mann Educators Corporation	—	−251,127	—	exited	−0.09 pp	—
VODVodafone Group PLC	—	−376,475	—	exited	−0.03 pp	—
IWSiShares Russell Mid-Cap Value ETF	—	−1,880	—	exited	0.00 pp	—
TIMBTim S.a.	—	−23,336	—	exited	0.00 pp	—
VWOVanguard FTSE Emerging Markets ETF	—	−8,193	—	exited	0.00 pp	—