SEC 13F Intelligence

Notable Investors / Q1 2026

John Rogers’s Portfolio — ARIEL INVESTMENTS, LLC

Founder, Chairman & Co-CEO, Ariel Investments

CIK 0000936753 · 200 EAST RANDOLPH STREET, SUITE 2900, CHICAGO, IL, 60601 · (312) 726-0140

About John Rogers

John Rogers founded Ariel Investments in 1983 as the first Black-owned mutual fund firm in the U.S., building a patient small- and mid-cap value franchise — the firm's logo is a turtle — and becoming one of the most influential voices for corporate diversity in finance.

Ariel's 13F focuses on under-followed small and mid caps in media, financial services, and consumer sectors, bought at discounts to private-market value and held for the multi-year re-rating.

Portfolio data below is from ARIEL INVESTMENTS, LLC’s SEC 13F filings. View the full filer page →

Reported Value
$8.9B
Q1 2026
Positions
200
Filings on Record
30
2019–present window
Filed
May 14, 2026
original filing

Summary

Ariel Investments, LLC reported $8.9B in U.S.-listed holdings across 200 positions for Q1 2026.

Its largest position, MSGE, represents 3.9% of the portfolio.

Compared with Q4 2025, the fund opened 8 new positions and exited 10.

Portfolio Metrics

Turnover
+7.0%
vs prior filed quarter
Top-10 Concentration
+31.1%
share of reported value
Largest Position
+3.9%
Madison Square Garden Entmt
New / Exited
8 / 10
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $7.2BQ4 ’18Q1 ’19: $8.0BQ2 ’19: $8.0BQ3 ’19: $7.5BQ4 ’19: $8.0BQ4 ’19Q1 ’20: $5.7BQ2 ’20: $6.6BQ3 ’20: $6.9BQ4 ’20: $8.9BQ4 ’20Q1 ’21: $10.2BQ2 ’21: $10.6BQ3 ’21: $10.9BQ4 ’21: $11.9BQ4 ’21Q1 ’22: $11.3BQ2 ’22: $10.0BQ3 ’22: $9.1BQ4 ’22: $9.8BQ4 ’22Q1 ’23: $10.4BQ2 ’23: $10.6BQ3 ’23: $9.4BQ4 ’23: $10.0BQ4 ’23Q1 ’24: $10.2BQ2 ’24: $9.2BQ3 ’24: $9.8BQ4 ’24: $9.4BQ4 ’24Q1 ’25: $8.5BQ2 ’25: $8.8BQ3 ’25: $9.4BQ4 ’25: $9.3BQ4 ’25Q1 ’26: $8.9Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 89.0%Other: 10.7%ETP: 0.2%ADR: 0.1%
  • Common Stock · 89.0% · $8.0B
  • Other · 10.7% · $953M
  • ETP · 0.2% · $16M
  • ADR · 0.1% · $12M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SMGSCOTTS MIRACLE-GRO CONEW+962.6K962.6K+$59M$59M
FITBFIFTH THIRD BANCORPNEW+567.4K567.4K+$26M$26M
VANGUARD INTL EQUITY INDEX FNEW+10.0K10.0K+$1M$1M
VANGUARD INTL EQUITY INDEX FNEW+20.2K20.2K+$1M$1M
ROYAL CARIBBEAN GROUPNEW+1.7K1.7K+$478,813$478,813
VANGUARD STAR FDSNEW+4.7K4.7K+$361,260$361,260
COLUMBIA ETF TR IINEW+8.5K8.5K+$345,497$345,497
ISHARES TRNEW+1.1K1.1K+$166,872$166,872

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSGEMADISON SQUARE GARDEN ENTMThistory →COM CL A3.89%$348M5.91M
2ONESPAWORLD HOLDINGS LIMITEDCOM3.72%$333M14.50M
3JLLJONES LANG LASALLE INChistory →COM3.33%$298M978.3K
4AMGAFFILIATED MANAGERS GROUPhistory →COM3.13%$280M1.01M
5SPHRSPHERE ENTERTAINMENT COhistory →CL A3.04%$272M2.31M
6NVSTENVISTA HOLDINGS CORPORATIONhistory →COM3.01%$269M10.58M
7NORWEGIAN CRUISE LINE HLDGSSHS2.91%$260M13.90M
8PBVPRESTIGE CONSMR HEALTHCARE Ihistory →COM2.72%$243M4.09M
9GNRCGENERAC HLDGS INChistory →COM2.70%$241M1.23M
10CHARLES RIV LABS INTL INCCOM2.69%$240M1.39M
11LAZLAZARD INChistory →COM2.69%$240M5.65M
12MSGSMADISON SQUARE GRDN SPRT CORhistory →CL A2.47%$221M687.1K
13FAFFIRST AMERN FINL CORPhistory →COM2.46%$219M3.64M
14CLBCORE LABORATORIES INChistory →COM2.40%$214M12.76M
15BUWABIO RAD LABS INChistory →CL A2.40%$214M768.1K
16CVSACOVISTA INChistory →COM2.38%$212M1.84M
17BOKFBOK FINL CORPhistory →COM NEW2.27%$203M1.59M
18MIDDMIDDLEBY CORPhistory →COM2.26%$202M1.52M
19REZIRESIDEO TECHNOLOGIES INChistory →COM2.16%$193M5.72M
20MATMATTEL INChistory →COM2.13%$190M13.08M
21CGCARLYLE GROUP INChistory →COM2.03%$181M3.74M
22BYDBOYD GAMING CORPhistory →COM1.99%$178M2.17M
23GNTXGENTEX CORPhistory →COM1.97%$176M8.04M
24SJMSMUCKER J M COhistory →COM NEW1.95%$174M1.80M
25MHKMOHAWK INDS INChistory →COM1.86%$166M1.69M
26ZBRAZEBRA TECHNOLOGIES CORPORATIhistory →CL A1.73%$155M740.5K
27MANCHESTER UTD PLC NEWORD CL A1.64%$147M8.73M
28NTRSNORTHERN TR CORPhistory →COM1.64%$146M1.05M
29ADTADT INC DELhistory →COM1.36%$121M18.49M
30AQNALGONQUIN POWER & UTILITIEShistory →COM1.35%$121M19.64M
31KNKNOWLES CORPhistory →COM1.09%$98M3.80M
32AXALTA COATING SYS LTDCOM1.01%$91M3.27M
33LHLABCORP HOLDINGS INChistory →COM SHS0.97%$86M323.7K
34BCOBRINKS COhistory →COM0.90%$81M778.3K
35OMCOMNICOM GROUP INChistory →COM0.85%$76M1.01M
36XRAYDENTSPLY SIRONA INChistory →COM0.83%$74M6.39M
37LFUSLITTELFUSE INChistory →COM0.81%$73M214.1K
38INTCINTEL CORPhistory →COM0.72%$64M1.46M
39NVENT ELEC PLCSHS0.71%$64M538.4K
40SLBSLB LIMITEDhistory →COM STK0.71%$64M1.24M
41DISDISNEY WALT COhistory →COM0.71%$63M654.4K
42LINDLINDBLAD EXPEDITIONS HLDGS Ihistory →COM0.66%$59M3.39M
43SMGSCOTTS MIRACLE-GRO COhistory →CL A0.66%$59M962.6K
44FSLRFIRST SOLAR INChistory →COM0.60%$54M271.5K
45CVSCVS HEALTH CORPhistory →COM0.56%$50M702.2K
46RLIRLI CORPhistory →COM0.55%$50M868.5K
47FDSFACTSET RESH SYS INChistory →COM0.55%$49M224.5K
48KEYSKEYSIGHT TECHNOLOGIES INChistory →COM0.52%$47M165.1K
49BMYBRISTOL-MYERS SQUIBB COhistory →COM0.49%$44M721.7K
50WEXWEX INChistory →COM0.49%$44M285.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$8.9B200May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$9.3B202Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$9.4B201Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$8.8B199Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$8.5B200May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$9.4B204Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$9.8B204Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$9.2B209Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$10.2B209May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$10.0B210Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$9.4B213Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$10.6B255Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$10.4B250May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$9.8B252Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$9.1B251Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$10.0B246Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$11.3B240May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$11.9B161Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$10.9B116Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$10.6B117Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$10.2B142May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$8.9B145Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$6.9B148Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$6.6B153Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$5.7B148May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$8.0B146Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$7.5B144Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$8.0B153Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$8.0B154May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$7.2B157Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 2 additional managers.

  • CHARLES SCHWAB INVESTMENT MANAGEMENT INC028-03128
  • VANGUARD GROUP INC028-06408

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.