Ariel Investments

Q2 2026 13F · by John Rogers, CIO

As of: Jun 30, 2026
Filed: Aug 14, 2026
US stock: $10.0B · prev $8.9B
Positions: 106 · 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

+6.0 pp in · −6.0 pp out

New 8 +3.05 pp
Added 33 +2.98 pp
Trimmed 63 −4.83 pp
Exited 8 −1.22 pp

The book

Diversified · behaves like 46 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

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

Low
Moderate
High

Top 5 positions19% of US stock

Positions106 in this filing · 8 exited


MSGEMadison Square Garden Entertainment Corp.	4.28%	5,302,754	$429M	trimmed−13%	+0.25 pp	13 q
OSWOneSpaWorld Holdings Limited	4.19%	14,888,182	$420M	trimmed−4%	+0.23 pp	26 q
CRLCharles River Laboratories International, Inc.	3.41%	1,506,185	$342M	added+4%	+0.62 pp	53+ q
AMGAffiliated Managers Group	3.37%	999,676	$338M	trimmed−6%	+0.07 pp	32 q
JLLJones Lang LaSalle, Inc.	3.28%	1,060,265	$329M	added+4%	−0.21 pp	53+ q
NCLHNorwegian Cruise Line Holdings Ltd.	3.25%	15,430,947	$326M	added+5%	+0.18 pp	26 q
GNRCGenerac Holdings Inc	2.91%	997,951	$292M	trimmed−23%	+0.08 pp	17 q
SPHRSphere Entertainment Co.	2.87%	1,665,326	$288M	trimmed−32%	−0.37 pp	25 q
MIDDMiddleby Corp	2.82%	1,644,006	$283M	added+4%	+0.48 pp	26 q
MSGSMadison Square Garden Sports Corp.	2.64%	658,551	$265M	trimmed−8%	+0.06 pp	43 q
NVSTEnvista Holdings Corporation, $0.01 par value per share	2.58%	9,818,177	$259M	trimmed−10%	−0.50 pp	26 q
ZBRAZebra Technologies Corporation	2.42%	922,998	$243M	added+19%	+0.60 pp	51 q
LAZLazard, Inc.	2.41%	5,755,404	$241M	trimmed−1%	−0.36 pp	53+ q
BIOBio-Rad Laboratories, Inc.Class A	2.39%	816,751	$240M	added+4%	−0.06 pp	53+ q
PBHPrestige Consumer Healthcare Inc.	2.29%	4,868,711	$230M	added+14%	−0.55 pp	17 q
BOKFBOK Financial Corp	2.25%	1,627,416	$226M	trimmed−1%	−0.11 pp	41 q
FAFFirst American Financial Corporation	2.21%	3,229,706	$222M	trimmed−16%	−0.38 pp	53+ q
CVSACovista Inc.	2.20%	1,771,844	$221M	trimmed−8%	−0.29 pp	37 q
MATMattel, Inc.	2.13%	15,415,955	$214M	added+14%	−0.08 pp	45 q
MHKMohawk Industries, Inc.	2.13%	1,756,773	$213M	added+1%	+0.21 pp	53+ q
MANUManchester United PLC	2.12%	9,258,276	$212M	added+2%	+0.42 pp	20 q
GNTXGentex Corp	2.09%	8,309,786	$210M	trimmed−0%	+0.05 pp	20 q
SJMThe J.M. Smucker Company	2.02%	1,798,871	$202M	trimmed−3%	+0.01 pp	53+ q
BYDBoyd Gaming Corporation	1.92%	2,182,342	$193M	trimmed−4%	−0.17 pp	20 q
CGThe Carlyle Group Inc.	1.91%	4,548,683	$192M	added+14%	−0.25 pp	15 q
REZIResideo Technologies, Inc.	1.90%	6,141,052	$191M	added+1%	−0.39 pp	20 q
NTRSNorthern Trust Corp	1.69%	972,340	$169M	trimmed−15%	−0.09 pp	53+ q
CLBCore Laboratories Inc.	1.63%	14,074,945	$164M	added+7%	−0.85 pp	25 q
HAEHaemonetics Corporation	1.54%	2,060,966	$155M	new	+1.54 pp	new
RLIRLI Corp.	1.48%	2,519,527	$149M	added×2.9	+0.92 pp	3 q
MASMasco Corporation	1.33%	1,635,096	$133M	added×3.1	+0.98 pp	31 q
AXTAAxalta Coating Systems Ltd.	1.18%	3,462,010	$118M	trimmed−0%	+0.11 pp	22 q
ADTADT Inc.	1.16%	17,858,375	$116M	trimmed−8%	−0.27 pp	21 q
LHLabcorp Holdings Inc.	0.97%	349,112	$98M	trimmed−1%	−0.09 pp	9 q
SMGThe Scotts Miracle-Gro Company	0.96%	1,410,981	$96M	added+47%	+0.30 pp	2 q
KNKnowles Corporation	0.94%	2,284,673	$95M	trimmed−40%	−0.16 pp	31 q
BCOThe Brink's Company	0.86%	911,321	$86M	trimmed−1%	−0.21 pp	53+ q
XRAYDENTSPLY SIRONA Inc.	0.85%	8,026,107	$85M	added+26%	+0.02 pp	3 q
OMCOmnicom Group Inc.	0.85%	1,174,452	$86M	added+6%	−0.08 pp	3 q
LINDLindblad Expeditions Holdings Inc.	0.78%	2,762,484	$78M	trimmed−20%	+0.11 pp	19 q
INTCIntel Corp	0.76%	548,831	$77M	trimmed−62%	+0.04 pp	11 q
CVSCvs Health Corporation	0.75%	730,110	$76M	added+4%	+0.19 pp	10 q
LFUSLittelfuse Inc	0.74%	163,376	$74M	trimmed−24%	−0.08 pp	53+ q
DISThe Walt Disney Company	0.61%	635,446	$61M	trimmed−3%	−0.10 pp	5 q
FSLRFirst Solar, Inc.	0.57%	242,450	$57M	trimmed−11%	−0.03 pp	5 q
FDSFactset Research Systems	0.54%	234,096	$54M	added+4%	−0.01 pp	3 q
GCMGGCM Grosvenor Inc. Class A	0.54%	4,415,839	$54M	added0%	+0.06 pp	16 q
SLBSLB Limited	0.54%	1,163,320	$54M	trimmed−6%	−0.17 pp	7 q
KEYSKeysight Technologies, Inc.	0.51%	145,711	$51M	trimmed−29%	−0.14 pp	39 q
NVTnVent Electric plc	0.51%	299,032	$51M	trimmed−50%	−0.28 pp	22 q
PPLPPL Corporation	0.49%	1,349,987	$49M	new	+0.49 pp	new
SCHWThe Charles Schwab Corporation	0.48%	525,299	$48M	added+30%	+0.06 pp	26 q
WEXWEX Inc.	0.47%	331,383	$47M	trimmed−2%	−0.11 pp	8 q
CBRECbre Group, Inc.	0.46%	343,527	$46M	added+31%	+0.06 pp	53+ q
MTBM&T Bank Corp.	0.41%	174,574	$42M	trimmed−2%	0.00 pp	19 q
TAT&T Inc.	0.40%	1,924,404	$40M	added+29%	−0.08 pp	3 q
BMYBristol-Myers Squibb Co.	0.40%	696,430	$40M	trimmed−4%	−0.09 pp	3 q
AQNAlgonquin Power & Utilities Corp	0.39%	6,608,611	$39M	trimmed−66%	−0.96 pp	6 q
KKRKKR & Co. Inc.	0.39%	424,241	$39M	trimmed−3%	−0.06 pp	32 q
DTDynatrace, Inc.	0.35%	788,488	$35M	new	+0.35 pp	new
HPEHewlett Packard Enterprise Company	0.34%	751,355	$34M	trimmed−55%	−0.10 pp	3 q
HLIHoulihan Lokey, Inc.	0.33%	244,520	$33M	new	+0.33 pp	new
FITBFifth Third Bancorp	0.31%	554,673	$31M	trimmed−2%	+0.01 pp	2 q
FDXFedEx Corporation	0.30%	95,476	$30M	trimmed−3%	−0.09 pp	4 q
KFYKorn Ferry	0.30%	450,116	$30M	trimmed−3%	−0.03 pp	30 q
AFLAflac Inc.	0.28%	236,216	$28M	trimmed−1%	−0.01 pp	53+ q
BACBank of America Corporation	0.28%	492,572	$28M	trimmed−4%	0.00 pp	16 q
FISVFiserv, Inc.	0.27%	545,115	$27M	added+26%	0.00 pp	18 q
GILDGilead Sciences Inc	0.25%	195,657	$25M	trimmed−3%	−0.07 pp	53+ q
LESLQLeslie's Inc	0.24%	2,416,405	$25M	trimmed−16%	+0.20 pp	4 q
COFCapital One Financial	0.22%	108,339	$22M	new	+0.22 pp	new
SSDSimpson Manufacturing Co., Inc.	0.21%	99,589	$21M	added+9%	+0.03 pp	53+ q
RCLRoyal Caribbean Group	0.21%	67,173	$21M	added×38.6	+0.20 pp	2 q
CNPCenterPoint Energy, Inc.	0.20%	460,132	$20M	trimmed−4%	−0.03 pp	7 q
KMXCarMax Inc.	0.18%	346,538	$18M	trimmed−38%	−0.08 pp	30 q
IWNiShares Russell 2000 Value ETF	0.17%	76,697	$17M	added+17%	+0.03 pp	29 q
MTNVail Resorts, Inc.	0.15%	109,130	$15M	trimmed−3%	−0.01 pp	26 q
PGRProgressive Corporation	0.13%	58,906	$13M	added×58.3	+0.13 pp	6 q
SNASnap-on Incorporated	0.12%	28,940	$12M	trimmed−11%	−0.01 pp	53+ q
MGPIMGP Ingredients Inc	0.11%	610,729	$11M	trimmed−3%	−0.02 pp	10 q
JNJJohnson & Johnson	0.09%	35,393	$9M	trimmed−13%	−0.02 pp	53+ q
PHINPHINIA Inc.	0.09%	113,193	$9M	trimmed−15%	−0.01 pp	12 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.08%	17,838	$9M	added+11%	+0.02 pp	11 q
BBarrick Mining Corporation	0.07%	194,488	$7M	trimmed−6%	−0.02 pp	21 q
FDXFFedEx Freight Holding Company, Inc.	0.07%	47,734	$7M	new	+0.07 pp	new
APAAPA Corporation	0.06%	186,521	$6M	trimmed−16%	−0.05 pp	22 q
CVXChevron Corporation	0.06%	34,626	$6M	trimmed−17%	−0.04 pp	12 q
LMTLockheed Martin Corp.	0.06%	11,045	$6M	trimmed−16%	−0.03 pp	53+ q
VEAVanguard FTSE Developed Markets ETF	0.05%	75,980	$5M	new	+0.05 pp	new
BWABorgWarner Inc.	0.04%	55,049	$4M	trimmed−15%	0.00 pp	42 q
AJGArthur J. Gallagher & Co.	0.04%	18,597	$4M	trimmed−6%	−0.01 pp	4 q
VTVanguard Total World Stock ETF	0.04%	27,941	$4M	added×2.8	+0.02 pp	2 q
KBKB Financial Group Inc	0.03%	26,798	$3M	trimmed−46%	−0.03 pp	11 q
MOSThe Mosaic Company	0.03%	123,607	$3M	trimmed−17%	−0.01 pp	52 q
KSPIJoint Stock Company Kaspi.kz American Depository Shares	0.02%	23,614	$2M	added+4%	0.00 pp	9 q
ORCLOracle Corp	0.02%	13,730	$2M	trimmed−16%	−0.01 pp	51 q
XCEMColumbia EM Core ex-China ETF	0.01%	16,671	$881,562	added+97%	+0.01 pp	2 q
VWOVanguard FTSE Emerging Markets ETF	0.01%	10,065	$600,780	trimmed−50%	0.00 pp	2 q
BRCBrady Corporation	0.00%	2,747	$251,543	trimmed−1%	0.00 pp	53+ q
FICOFair Isaac Corporation	0.00%	203	$242,540	trimmed−0%	0.00 pp	18 q
HDBHDFC Bank Limited	0.00%	14,072	$363,480	held	—	4 q
IWSiShares Russell Mid-Cap Value ETF	0.00%	1,145	$188,467	held	—	2 q
IWDiShares Russell 1000 Value ETF	0.00%	895	$216,975	new	0.00 pp	new
KMTKennametal Inc.	0.00%	7,814	$273,881	trimmed−99%	−0.35 pp	49 q
MSIMotorola Solutions, Inc. New	0.00%	692	$287,381	trimmed−1%	0.00 pp	17 q
ZBHZimmer Biomet Holdings, Inc.	0.00%	2,999	$258,184	trimmed−1%	0.00 pp	53+ q
SWKStanley Black & Decker, Inc.	—	−396,952	—	exited	−0.32 pp	—
MSFTMicrosoft Corp	—	−62,192	—	exited	−0.26 pp	—
TAPMolson Coors Beverage Company Class B	—	−548,715	—	exited	−0.26 pp	—
SKYDSkydance Corporation	—	−2,546,320	—	exited	−0.26 pp	—
HCKTHackett Group Inc (The).	—	−425,568	—	exited	−0.06 pp	—
BAPCredicorp LTD	—	−7,585	—	exited	−0.03 pp	—
IFSIntercorp Financial Services Inc.	—	−46,465	—	exited	−0.03 pp	—
VXUSVanguard Total International Stock ETF	—	−4,685	—	exited	0.00 pp	—