# John Rogers — Ariel Investments

Portfolio USD 10,029,167,000 · 106 positions · 2026 Q2 · history from 2024 Q1.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/AI

## Positions (2026 Q2)

| Ticker | Company | % of portfolio | Value | This quarter | Holders |
|---|---|---:|---:|---|---:|
| MSGE | Madison Square Garden Entertainment Corp. | 4.3% | USD 428,940,000 | -13.15% |  |
| OSW | OneSpaWorld Holdings Ltd | 4.2% | USD 420,443,000 | -3.53% |  |
| CRL | Charles River Labs | 3.4% | USD 341,588,000 | +4.29% |  |
| AMG | Affiliated Managers Group | 3.4% | USD 338,290,000 | -6.05% |  |
| JLL | Jones Lang Lasalle Inc. | 3.3% | USD 328,629,000 | +3.51% |  |
| NCLH | Norwegian Cruise Line Hlgs Ltd. | 3.3% | USD 325,748,000 | +5.25% |  |
| GNRC | Generac Holdings Inc. | 2.9% | USD 292,210,000 | -22.93% |  |
| SPHR | Sphere Entertainment Co. | 2.9% | USD 288,151,000 | -32.37% |  |
| MIDD | Middleby Corp. | 2.8% | USD 282,785,000 | +4.41% |  |
| MSGS | Madison Square Garden Sports Corp. | 2.6% | USD 264,633,000 | -8.2% |  |
| NVST | Envista Holdings Corp. | 2.6% | USD 258,708,000 | -9.62% |  |
| ZBRA | Zebra Technologies Corp. | 2.4% | USD 242,988,000 | +18.73% |  |
| LAZ | Lazard Inc. | 2.4% | USD 241,381,000 | -1.22% |  |
| BIO | Bio-Rad Laboratories Inc. | 2.4% | USD 239,806,000 | +3.92% |  |
| PBH | Prestige Consumer Healthcare | 2.3% | USD 230,143,000 | +13.91% |  |
| BOKF | BOK Financial Corp. | 2.3% | USD 226,015,000 | -1.36% |  |
| FAF | First Amer'n Corp. | 2.2% | USD 221,526,000 | -15.87% |  |
| ATGE | Adtalem Global Education | 2.2% | USD 220,878,000 | -8.26% |  |
| MAT | Mattel Inc. | 2.1% | USD 213,974,000 | +13.63% |  |
| MHK | Mohawk Industries | 2.1% | USD 213,150,000 | +0.69% |  |
| MANU | Manchester United plc | 2.1% | USD 212,292,000 | +2.3% |  |
| GNTX | Gentex Corp. | 2.1% | USD 209,988,000 | -0.39% |  |
| SJM | J.M. Smucker Co | 2.0% | USD 202,373,000 | -3.31% |  |
| BYD | Boyd Gaming Corp. | 1.9% | USD 192,766,000 | -4.05% |  |
| CG | Carlyle Group | 1.9% | USD 191,545,000 | +14.24% |  |
| REZI | Resideo Technologies Inc. | 1.9% | USD 190,987,000 | +1.02% |  |
| NTRS | Northern Trust Corp. | 1.7% | USD 169,031,000 | -14.79% |  |
| CLB | Core Laboratories Inc. | 1.6% | USD 163,973,000 | +6.87% |  |
| HAE | Haemonetics Corp. | 1.5% | USD 154,572,000 | new |  |
| RLI | RLI Corp. | 1.5% | USD 148,829,000 | +188.93% |  |
| MAS | Masco Corp. | 1.3% | USD 133,048,000 | +212.38% |  |
| AXTA | Axalta Coating Systems Ltd. | 1.2% | USD 118,469,000 | -0.14% |  |
| ADT | ADT Inc. | 1.2% | USD 116,080,000 | -8.3% |  |
| LH | Labcorp Holdings Inc. | 1.0% | USD 97,752,000 | -1.39% |  |
| SMG | Scotts Miracle-Gro Co. | 1.0% | USD 96,102,000 | +46.57% |  |
| KN | Knowles Corp. | 0.9% | USD 94,768,000 | -40.17% |  |
| BCO | Brink's Co. | 0.9% | USD 86,111,000 | -1.26% |  |
| OMC | Omnicom Group | 0.9% | USD 85,536,000 | +6.29% |  |
| XRAY | DENTSPLY SIRONA Inc. | 0.9% | USD 85,157,000 | +25.67% |  |
| LIND | Lindblad Expeditions Hldgs Inc. | 0.8% | USD 78,013,000 | -19.67% |  |
| INTC | Intel Corp. | 0.8% | USD 76,633,000 | -62.29% |  |
| CVS | CVS Health Corp. | 0.8% | USD 75,530,000 | +3.98% |  |
| LFUS | Littelfuse Inc. | 0.7% | USD 74,390,000 | -24.16% |  |
| DIS | Walt Disney Co. | 0.6% | USD 61,162,000 | -2.89% |  |
| FSLR | First Solar Inc. | 0.6% | USD 57,209,000 | -10.69% |  |
| GCMG | Gcm Grosvenor Inc Class A | 0.5% | USD 54,315,000 | +0.44% |  |
| SLB | Schlumberger Ltd. | 0.5% | USD 54,083,000 | -5.99% |  |
| FDS | FactSet Research Systems | 0.5% | USD 53,861,000 | +4.02% |  |
| KEYS | Keysight Technologies Inc. | 0.5% | USD 51,009,000 | -28.69% |  |
| NVT | nVent Electric plc | 0.5% | USD 50,719,000 | -49.86% |  |
| PPL | PPL Corp. | 0.5% | USD 49,072,000 | new |  |
| SCHW | Charles Schwab Corp. | 0.5% | USD 48,469,000 | +30.37% |  |
| WEX | WEX Inc. | 0.5% | USD 46,755,000 | -1.88% |  |
| CBRE | CBRE Group | 0.5% | USD 46,270,000 | +30.54% |  |
| MTB | M&T Bank Corp. | 0.4% | USD 41,550,000 | -1.72% |  |
| BMY | Bristol-Myers Squibb | 0.4% | USD 40,128,000 | -3.51% |  |
| T | AT&T Inc. | 0.4% | USD 39,835,000 | +29.23% |  |
| KKR | KKR & Co. L.P. | 0.4% | USD 38,936,000 | -3.45% |  |
| AQN | Algonquin Power & Utilities | 0.4% | USD 38,726,000 | -66.35% |  |
| DT | Dynatrace Inc. | 0.4% | USD 34,623,000 | new |  |
| HPE | Hewlett Packard Enterprise | 0.3% | USD 33,894,000 | -54.72% |  |
| HLI | Houlihan Lokey Inc. | 0.3% | USD 32,797,000 | new |  |
| FITB | Fifth Third Bancorp | 0.3% | USD 31,267,000 | -2.25% |  |
| KFY | Korn Ferry | 0.3% | USD 29,969,000 | -2.87% |  |
| FDX | FedEx Corp. | 0.3% | USD 29,896,000 | -3.48% |  |
| BAC | Bank of America Corp. | 0.3% | USD 28,067,000 | -3.82% |  |
| AFL | AFLAC Inc. | 0.3% | USD 27,697,000 | -1.27% |  |
| FISV | Fiserv Inc. | 0.3% | USD 26,738,000 | +26.02% |  |
| GILD | Gilead Sciences | 0.3% | USD 24,719,000 | -3.27% |  |
| LESL | Leslie's Inc. | 0.2% | USD 24,526,000 | -16.18% |  |
| COF | Capital One Financial | 0.2% | USD 21,735,000 | new |  |
| RCL | Royal Caribbean Cruises Ltd. | 0.2% | USD 21,329,000 | +3760.52% |  |
| SSD | Simpson Manufacturing | 0.2% | USD 20,848,000 | +8.54% |  |
| CNP | CenterPoint Energy | 0.2% | USD 20,264,000 | -3.51% |  |
| KMX | CarMax Inc. | 0.2% | USD 18,328,000 | -38.33% |  |
| IWN | Ishares Russell 2000 Value E | 0.2% | USD 16,965,000 | +17.18% |  |
| MTN | Vail Resorts Inc. | 0.2% | USD 14,858,000 | -2.83% |  |
| PGR | Progressive Corp. | 0.1% | USD 12,868,000 | +5732.28% |  |
| SNA | Snap-On Inc. | 0.1% | USD 11,645,000 | -11.25% |  |
| MGPI | MGP Ingredients Inc. | 0.1% | USD 10,700,000 | -2.88% |  |
| PHIN | PHINIA Inc. | 0.1% | USD 9,324,000 | -14.61% |  |
| JNJ | Johnson & Johnson | 0.1% | USD 8,989,000 | -12.72% |  |
| TSM | Taiwan Semiconductor S.A. | 0.1% | USD 8,519,000 | +10.85% |  |
| FDXF | FedEx Freight Holding Co. | 0.1% | USD 7,208,000 | new |  |
| B | Barrick Mining Corp. | 0.1% | USD 7,144,000 | -6.17% |  |
| APA | APA Corp. | 0.1% | USD 6,075,000 | -16.04% |  |
| CVX | Chevron Corp. | 0.1% | USD 5,740,000 | -16.56% |  |
| LMT | Lockheed Martin Corp. | 0.1% | USD 5,627,000 | -15.78% |  |
| VEA | Vanguard FTSE Developed ETF | 0.1% | USD 5,414,000 | new |  |
| VT | Vanguard Tot World Stk ETF | <0.1% | USD 4,385,000 | +180.42% |  |
| AJG | Arthur J. Gallagher & Co. | <0.1% | USD 4,269,000 | -5.9% |  |
| BWA | BorgWarner Inc. | <0.1% | USD 3,655,000 | -15.29% |  |
| KB | Kb Financial Group Inc ADR | <0.1% | USD 2,813,000 | -46.36% |  |
| MOS | Mosaic Co. | <0.1% | USD 2,619,000 | -16.67% |  |
| KSPI | Jsc Kaspi.kz ADR | <0.1% | USD 2,046,000 | +3.92% |  |
| ORCL | Oracle Corp. | <0.1% | USD 2,012,000 | -16.11% |  |
| XCEM | Columbia Em Core Ex China | <0.1% | USD 882,000 | +96.92% |  |
| VWO | Vanguard FTSE Emerging Marke | <0.1% | USD 601,000 | -50.28% |  |
| HDB | HDFC Bank Ltd. | 0.0% | USD 363,000 | hold |  |
| MSI | Motorola Solutions Inc. | 0.0% | USD 287,000 | -0.57% |  |
| KMT | Kennametal Inc. | 0.0% | USD 274,000 | -99.1% |  |
| ZBH | Zimmer Biomet Holdings | 0.0% | USD 258,000 | -0.5% |  |
| BRC | Brady Corp. | 0.0% | USD 252,000 | -0.62% |  |
| FICO | Fair Isaac Corp. | 0.0% | USD 243,000 | -0.49% |  |
| IWD | Ishares Russell 1000 Value E | 0.0% | USD 217,000 | new |  |
| IWS | Ishares Russell Mid Cap Valu | 0.0% | USD 188,000 | hold |  |

## Moves this quarter (112)

- MSGE Madison Square Garden Entertainment Corp.: -13.15% (USD 428,940,000)
- OSW OneSpaWorld Holdings Ltd: -3.53% (USD 420,443,000)
- CRL Charles River Labs: +4.29% (USD 341,588,000)
- AMG Affiliated Managers Group: -6.05% (USD 338,290,000)
- JLL Jones Lang Lasalle Inc.: +3.51% (USD 328,629,000)
- NCLH Norwegian Cruise Line Hlgs Ltd.: +5.25% (USD 325,748,000)
- GNRC Generac Holdings Inc.: -22.93% (USD 292,210,000)
- SPHR Sphere Entertainment Co.: -32.37% (USD 288,151,000)
- MIDD Middleby Corp.: +4.41% (USD 282,785,000)
- MSGS Madison Square Garden Sports Corp.: -8.2% (USD 264,633,000)
- NVST Envista Holdings Corp.: -9.62% (USD 258,708,000)
- ZBRA Zebra Technologies Corp.: +18.73% (USD 242,988,000)
- LAZ Lazard Inc.: -1.22% (USD 241,381,000)
- BIO Bio-Rad Laboratories Inc.: +3.92% (USD 239,806,000)
- PBH Prestige Consumer Healthcare: +13.91% (USD 230,143,000)
- BOKF BOK Financial Corp.: -1.36% (USD 226,015,000)
- FAF First Amer'n Corp.: -15.87% (USD 221,526,000)
- ATGE Adtalem Global Education: -8.26% (USD 220,878,000)
- MAT Mattel Inc.: +13.63% (USD 213,974,000)
- MHK Mohawk Industries: +0.69% (USD 213,150,000)
- MANU Manchester United plc: +2.3% (USD 212,292,000)
- GNTX Gentex Corp.: -0.39% (USD 209,988,000)
- SJM J.M. Smucker Co: -3.31% (USD 202,373,000)
- BYD Boyd Gaming Corp.: -4.05% (USD 192,766,000)
- CG Carlyle Group: +14.24% (USD 191,545,000)
- REZI Resideo Technologies Inc.: +1.02% (USD 190,987,000)
- NTRS Northern Trust Corp.: -14.79% (USD 169,031,000)
- CLB Core Laboratories Inc.: +6.87% (USD 163,973,000)
- HAE Haemonetics Corp.: new (USD 154,572,000)
- RLI RLI Corp.: +188.93% (USD 148,829,000)
- MAS Masco Corp.: +212.38% (USD 133,048,000)
- AXTA Axalta Coating Systems Ltd.: -0.14% (USD 118,469,000)
- ADT ADT Inc.: -8.3% (USD 116,080,000)
- LH Labcorp Holdings Inc.: -1.39% (USD 97,752,000)
- SMG Scotts Miracle-Gro Co.: +46.57% (USD 96,102,000)
- KN Knowles Corp.: -40.17% (USD 94,768,000)
- BCO Brink's Co.: -1.26% (USD 86,111,000)
- OMC Omnicom Group: +6.29% (USD 85,536,000)
- XRAY DENTSPLY SIRONA Inc.: +25.67% (USD 85,157,000)
- LIND Lindblad Expeditions Hldgs Inc.: -19.67% (USD 78,013,000)
- INTC Intel Corp.: -62.29% (USD 76,633,000)
- CVS CVS Health Corp.: +3.98% (USD 75,530,000)
- LFUS Littelfuse Inc.: -24.16% (USD 74,390,000)
- DIS Walt Disney Co.: -2.89% (USD 61,162,000)
- FSLR First Solar Inc.: -10.69% (USD 57,209,000)
- GCMG Gcm Grosvenor Inc Class A: +0.44% (USD 54,315,000)
- SLB Schlumberger Ltd.: -5.99% (USD 54,083,000)
- FDS FactSet Research Systems: +4.02% (USD 53,861,000)
- KEYS Keysight Technologies Inc.: -28.69% (USD 51,009,000)
- NVT nVent Electric plc: -49.86% (USD 50,719,000)
- PPL PPL Corp.: new (USD 49,072,000)
- SCHW Charles Schwab Corp.: +30.37% (USD 48,469,000)
- WEX WEX Inc.: -1.88% (USD 46,755,000)
- CBRE CBRE Group: +30.54% (USD 46,270,000)
- MTB M&T Bank Corp.: -1.72% (USD 41,550,000)
- BMY Bristol-Myers Squibb: -3.51% (USD 40,128,000)
- T AT&T Inc.: +29.23% (USD 39,835,000)
- KKR KKR & Co. L.P.: -3.45% (USD 38,936,000)
- AQN Algonquin Power & Utilities: -66.35% (USD 38,726,000)
- DT Dynatrace Inc.: new (USD 34,623,000)
- HPE Hewlett Packard Enterprise: -54.72% (USD 33,894,000)
- HLI Houlihan Lokey Inc.: new (USD 32,797,000)
- FITB Fifth Third Bancorp: -2.25% (USD 31,267,000)
- KFY Korn Ferry: -2.87% (USD 29,969,000)
- FDX FedEx Corp.: -3.48% (USD 29,896,000)
- SWK Stanley Black & Decker Inc.: sold (USD 28,207,409)
- BAC Bank of America Corp.: -3.82% (USD 28,067,000)
- AFL AFLAC Inc.: -1.27% (USD 27,697,000)
- FISV Fiserv Inc.: +26.02% (USD 26,738,000)
- GILD Gilead Sciences: -3.27% (USD 24,719,000)
- LESL Leslie's Inc.: -16.18% (USD 24,526,000)
- TAP Molson Coors Beverage Co.: sold (USD 23,627,668)
- MSFT Microsoft Corp.: sold (USD 23,022,235)
- PSKY Paramount Skydance Corp.: sold (USD 22,967,806)
- COF Capital One Financial: new (USD 21,735,000)
- RCL Royal Caribbean Cruises Ltd.: +3760.52% (USD 21,329,000)
- SSD Simpson Manufacturing: +8.54% (USD 20,848,000)
- CNP CenterPoint Energy: -3.51% (USD 20,264,000)
- KMX CarMax Inc.: -38.33% (USD 18,328,000)
- IWN Ishares Russell 2000 Value E: +17.18% (USD 16,965,000)
- MTN Vail Resorts Inc.: -2.83% (USD 14,858,000)
- PGR Progressive Corp.: +5732.28% (USD 12,868,000)
- SNA Snap-On Inc.: -11.25% (USD 11,645,000)
- MGPI MGP Ingredients Inc.: -2.88% (USD 10,700,000)
- PHIN PHINIA Inc.: -14.61% (USD 9,324,000)
- JNJ Johnson & Johnson: -12.72% (USD 8,989,000)
- TSM Taiwan Semiconductor S.A.: +10.85% (USD 8,519,000)
- FDXF FedEx Freight Holding Co.: new (USD 7,208,000)
- B Barrick Mining Corp.: -6.17% (USD 7,144,000)
- APA APA Corp.: -16.04% (USD 6,075,000)
- CVX Chevron Corp.: -16.56% (USD 5,740,000)
- LMT Lockheed Martin Corp.: -15.78% (USD 5,627,000)
- HCKT Hackett Group Inc.: sold (USD 5,536,640)
- VEA Vanguard FTSE Developed ETF: new (USD 5,414,000)
- VT Vanguard Tot World Stk ETF: +180.42% (USD 4,385,000)
- AJG Arthur J. Gallagher & Co.: -5.9% (USD 4,269,000)
- BWA BorgWarner Inc.: -15.29% (USD 3,655,000)
- KB Kb Financial Group Inc ADR: -46.36% (USD 2,813,000)
- MOS Mosaic Co.: -16.67% (USD 2,619,000)
- BAP Credicorp Ltd.: sold (USD 2,572,984)
- IFS Intercorp Financial Services: sold (USD 2,333,008)
- KSPI Jsc Kaspi.kz ADR: +3.92% (USD 2,046,000)
- ORCL Oracle Corp.: -16.11% (USD 2,012,000)
- XCEM Columbia Em Core Ex China: +96.92% (USD 882,000)
- VWO Vanguard FTSE Emerging Marke: -50.28% (USD 601,000)
- VXUS Vanguard Total Intl Stock: sold (USD 360,979)
- MSI Motorola Solutions Inc.: -0.57% (USD 287,000)
- KMT Kennametal Inc.: -99.1% (USD 274,000)
- ZBH Zimmer Biomet Holdings: -0.5% (USD 258,000)
- BRC Brady Corp.: -0.62% (USD 252,000)
- FICO Fair Isaac Corp.: -0.49% (USD 243,000)
- IWD Ishares Russell 1000 Value E: new (USD 217,000)

## Portfolio value by quarter

- 2024 Q1: USD 10,168,816,272 (112 positions)
- 2024 Q2: USD 9,236,550,796 (115 positions)
- 2024 Q3: USD 9,797,698,749 (110 positions)
- 2024 Q4: USD 9,369,641,364 (110 positions)
- 2025 Q1: USD 8,509,612,903 (106 positions)
- 2025 Q2: USD 8,825,826,307 (104 positions)
- 2025 Q3: USD 9,348,491,129 (107 positions)
- 2025 Q4: USD 9,257,658,049 (108 positions)
- 2026 Q1: USD 8,933,371,349 (106 positions)
- 2026 Q2: USD 10,029,167,000 (106 positions)