John Rogers - Ariel Investments
Ariel Investments
Latest 13F filing
Q4 2025
filed Feb 13, 2026
Portfolio value
$9.26B
Positions
108
Top 10 concentration
32.2%
QoQ change
-1.0%
$-91.78M
Activity vs. Q3 2025
10
New positions
25
Added to
3
Unchanged
70
Reduced
49
Exited
Portfolio composition — Q4 2025
- MSGEMADISON SQUARE GARDEN ENTMT4.0%
- AMGAFFILIATED MANAGERS GROUP IN3.7%
- NCLHNORWEGIAN CRUISE LINE HLDG L3.5%
- SPHRSPHERE ENTERTAINMENT CO3.3%
- JLLJONES LANG LASALLE INC3.2%
- ?ONESPAWORLD HOLDINGS LIMITED3.1%
- CRLCHARLES RIV LABS INTL INC3.1%
- NVSTENVISTA HOLDINGS CORPORATION2.8%
- LAZLAZARD INC2.8%
- PBHPRESTIGE CONSMR HEALTHCARE I2.7%
- Other98 more positions67.8%
Top buys
New & added positions, by size
Holdings as of Q4 2025
| # | Ticker | Issuer | Shares | Value | % Portfolio | Reported price | Action | Δ Shares |
|---|---|---|---|---|---|---|---|---|
| 1 | MSGE | MADISON SQUARE GARDEN ENTMT | 6,881,315 | $370.83M | 4.01% | $53.89 | REDUCE | -11.1% |
| 2 | AMG | AFFILIATED MANAGERS GROUP IN | 1,182,223 | $340.81M | 3.68% | $288.28 | REDUCE | -6.5% |
| 3 | NCLH | NORWEGIAN CRUISE LINE HLDG L | 14,351,367 | $320.32M | 3.46% | $22.32 | ADD | +18.8% |
| 4 | SPHR | SPHERE ENTERTAINMENT CO | 3,168,534 | $301.26M | 3.25% | $95.08 | REDUCE | -47.1% |
| 5 | JLL | JONES LANG LASALLE INC | 893,230 | $300.55M | 3.25% | $336.47 | REDUCE | -6.1% |
| 6 | — | ONESPAWORLD HOLDINGS LIMITED | 14,011,310 | $290.59M | 3.14% | $20.74 | ADD | +6.2% |
| 7 | CRL | CHARLES RIV LABS INTL INC | 1,427,771 | $284.81M | 3.08% | $199.48 | REDUCE | -4.2% |
| 8 | NVST | ENVISTA HOLDINGS CORPORATION | 11,970,544 | $259.88M | 2.81% | $21.71 | REDUCE | -0.3% |
| 9 | LAZ | LAZARD INC | 5,296,822 | $257.21M | 2.78% | $48.56 | ADD | +1.0% |
| 10 | PBH | PRESTIGE CONSMR HEALTHCARE I | 4,102,497 | $253.08M | 2.73% | $61.69 | ADD | +14.1% |
| 11 | MAT | MATTEL INC | 12,532,133 | $248.64M | 2.69% | $19.84 | REDUCE | -8.9% |
| 12 | FAF | FIRST AMERN FINL CORP | 3,917,150 | $240.67M | 2.60% | $61.44 | ADD | +5.2% |
| 13 | CG | CARLYLE GROUP INC | 3,950,333 | $233.50M | 2.52% | $59.11 | REDUCE | -6.7% |
| 14 | MIDD | MIDDLEBY CORP | 1,558,645 | $231.72M | 2.50% | $148.67 | ADD | +22.4% |
| 15 | BIO | BIO RAD LABS INC | 764,672 | $231.69M | 2.50% | $302.99 | REDUCE | -5.5% |
| 16 | CLB | CORE LABORATORIES INC | 13,661,000 | $218.99M | 2.37% | $16.03 | REDUCE | -0.8% |
| 17 | REZI | RESIDEO TECHNOLOGIES INC | 6,121,216 | $214.98M | 2.32% | $35.12 | REDUCE | -8.6% |
| 18 | BOKF | BOK FINL CORP | 1,689,307 | $200.12M | 2.16% | $118.46 | REDUCE | -1.8% |
| 19 | BYD | BOYD GAMING CORP | 2,340,172 | $199.48M | 2.15% | $85.24 | REDUCE | -10.1% |
| 20 | CVSA | ADTALEM GLOBAL ED INC | 1,897,628 | $196.35M | 2.12% | $103.47 | ADD | +46.5% |
| 21 | GNRC | GENERAC HLDGS INC | 1,423,948 | $194.18M | 2.10% | $136.37 | REDUCE | -2.9% |
| 22 | MHK | MOHAWK INDS INC | 1,716,027 | $187.56M | 2.03% | $109.30 | ADD | +1.1% |
| 23 | MSGS | MADISON SQUARE GRDN SPRT COR | 722,495 | $186.87M | 2.02% | $258.65 | REDUCE | -0.6% |
| 24 | GNTX | GENTEX CORP | 7,889,928 | $183.60M | 1.98% | $23.27 | ADD | +9.3% |
| 25 | ADT | ADT INC DEL | 21,558,300 | $173.98M | 1.88% | $8.07 | REDUCE | -2.3% |
| 26 | NTRS | NORTHERN TR CORP | 1,248,921 | $170.59M | 1.84% | $136.59 | REDUCE | -2.8% |
| 27 | SJM | SMUCKER J M CO | 1,608,943 | $157.37M | 1.70% | $97.81 | ADD | +4.2% |
| 28 | AXTA | AXALTA COATING SYS LTD | 4,864,546 | $157.17M | 1.70% | $32.31 | ADD | +16.1% |
| 29 | MANU | MANCHESTER UTD PLC NEW | 8,982,161 | $143.00M | 1.54% | $15.92 | ADD | +0.6% |
| 30 | BCO | BRINKS CO | 1,027,444 | $119.93M | 1.30% | $116.73 | REDUCE | -16.2% |
| 31 | ZBRA | ZEBRA TECHNOLOGIES CORPORATI | 475,731 | $115.52M | 1.25% | $242.82 | ADD | +86.1% |
| 32 | AQN | ALGONQUIN PWR UTILS CORP | 15,920,654 | $97.91M | 1.06% | $6.15 | REDUCE | -2.6% |
| 33 | LH | LABCORP HOLDINGS INC | 360,087 | $90.34M | 0.98% | $250.88 | REDUCE | -0.8% |
| 34 | OMC | OMNICOM GROUP INC | 1,088,333 | $87.88M | 0.95% | $80.75 | NEW | — |
| 35 | CHKP | CHECK POINT SOFTWARE TECH LT | 464,185 | $86.13M | 0.93% | $185.56 | REDUCE | -4.5% |
| 36 | KN | KNOWLES CORP | 3,998,641 | $85.69M | 0.93% | $21.43 | REDUCE | -2.7% |
| 37 | MSFT | MICROSOFT CORP | 172,455 | $83.40M | 0.90% | $483.62 | REDUCE | -11.2% |
| 38 | LIND | LINDBLAD EXPEDITIONS HLDGS I | 5,118,819 | $73.81M | 0.80% | $14.42 | REDUCE | -7.3% |
| 39 | KMT | KENNAMETAL INC | 2,377,626 | $67.55M | 0.73% | $28.41 | REDUCE | -37.1% |
| 40 | FSLR | FIRST SOLAR INC | 251,565 | $65.72M | 0.71% | $261.23 | REDUCE | -22.7% |
| 41 | CVS | CVS HEALTH CORP | 825,092 | $65.48M | 0.71% | $79.36 | REDUCE | -16.6% |
| 42 | DIS | DISNEY WALT CO | 557,647 | $63.44M | 0.69% | $113.77 | ADD | +11.5% |
| 43 | NVT | NVENT ELECTRIC PLC | 613,021 | $62.51M | 0.68% | $101.97 | REDUCE | -28.7% |
| 44 | XRAY | DENTSPLY SIRONA INC | 5,274,740 | $60.29M | 0.65% | $11.43 | NEW | — |
| 45 | INTC | INTEL CORP | 1,524,112 | $56.24M | 0.61% | $36.90 | ADD | +57.8% |
| 46 | LFUS | LITTELFUSE INC | 221,498 | $56.02M | 0.61% | $252.92 | REDUCE | -1.7% |
| 47 | JHG | JANUS HENDERSON GROUP PLC | 1,169,327 | $55.62M | 0.60% | $47.57 | REDUCE | -42.8% |
| 48 | KEYS | KEYSIGHT TECHNOLOGIES INC | 258,309 | $52.49M | 0.57% | $203.19 | REDUCE | -1.5% |
| 49 | GCMG | GCM GROSVENOR INC | 4,508,199 | $51.03M | 0.55% | $11.32 | ADD | +0.5% |
| 50 | WEX | WEX INC | 336,797 | $50.18M | 0.54% | $148.98 | REDUCE | -1.2% |
| 51 | SLB | SLB LIMITED | 1,285,090 | $49.32M | 0.53% | $38.38 | REDUCE | -1.2% |
| 52 | BMY | BRISTOL-MYERS SQUIBB CO | 732,677 | $39.52M | 0.43% | $53.94 | NEW | — |
| 53 | COF | CAPITAL ONE FINL CORP | 162,230 | $39.32M | 0.42% | $242.36 | REDUCE | -21.2% |
| 54 | CNP | CENTERPOINT ENERGY INC | 996,778 | $38.22M | 0.41% | $38.34 | REDUCE | -3.0% |
| 55 | WBS | WEBSTER FINL CORP | 578,996 | $36.44M | 0.39% | $62.94 | NEW | — |
| 56 | FDS | FACTSET RESH SYS INC | 125,439 | $36.40M | 0.39% | $290.19 | NEW | — |
| 57 | MTB | M & T BK CORP | 180,402 | $36.35M | 0.39% | $201.48 | REDUCE | -5.8% |
| 58 | PSKY | PARAMOUNT SKYDANCE CORP | 2,587,190 | $34.67M | 0.37% | $13.40 | REDUCE | -13.8% |
| 59 | NTAP | NETAPP INC | 322,860 | $34.58M | 0.37% | $107.09 | REDUCE | -6.0% |
| 60 | SCHW | SCHWAB CHARLES CORP | 342,275 | $34.20M | 0.37% | $99.91 | REDUCE | -1.5% |
| 61 | CBRE | CBRE GROUP INC | 211,081 | $33.94M | 0.37% | $160.79 | REDUCE | -7.8% |
| 62 | KKR | KKR & CO INC | 264,916 | $33.77M | 0.36% | $127.48 | ADD | +3.7% |
| 63 | HPE | HEWLETT PACKARD ENTERPRISE C | 1,321,535 | $31.74M | 0.34% | $24.02 | NEW | — |
| 64 | SWK | STANLEY BLACK & DECKER INC | 421,387 | $31.30M | 0.34% | $74.28 | REDUCE | -1.4% |
| 65 | KFY | KORN FERRY | 466,090 | $30.77M | 0.33% | $66.02 | REDUCE | -1.9% |
| 66 | T | AT&T INC | 1,202,446 | $29.87M | 0.32% | $24.84 | NEW | — |
| 67 | BAC | BANK AMERICA CORP | 517,442 | $28.46M | 0.31% | $55.00 | REDUCE | -4.1% |
| 68 | MAS | MASCO CORP | 405,488 | $25.73M | 0.28% | $63.46 | ADD | +1.7% |
| 69 | GILD | GILEAD SCIENCES INC | 205,052 | $25.17M | 0.27% | $122.74 | REDUCE | -6.3% |
| 70 | TAP | MOLSON COORS BEVERAGE CO | 515,945 | $24.08M | 0.26% | $46.68 | ADD | +12.6% |
| 71 | RLI | RLI CORP | 373,173 | $23.88M | 0.26% | $63.98 | NEW | — |
| 72 | AFL | AFLAC INC | 212,072 | $23.39M | 0.25% | $110.27 | REDUCE | -1.5% |
| 73 | KMX | CARMAX INC | 563,483 | $21.77M | 0.24% | $38.64 | REDUCE | -1.4% |
| 74 | FISV | FISERV INC | 321,025 | $21.56M | 0.23% | $67.17 | ADD | +26.9% |
| 75 | HUM | HUMANA INC | 82,807 | $21.21M | 0.23% | $256.13 | REDUCE | -5.9% |
| 76 | FDX | FEDEX CORP | 71,405 | $20.63M | 0.22% | $288.86 | REDUCE | -5.9% |
| 77 | MGPI | MGP INGREDIENTS INC NEW | 629,467 | $15.30M | 0.17% | $24.30 | REDUCE | -2.6% |
| 78 | MTN | VAIL RESORTS INC | 112,211 | $14.90M | 0.16% | $132.80 | REDUCE | -2.6% |
| 79 | SSD | SIMPSON MFG INC | 91,389 | $14.76M | 0.16% | $161.47 | REDUCE | -1.6% |
| 80 | SNA | SNAP ON INC | 32,694 | $11.27M | 0.12% | $344.60 | REDUCE | -0.5% |
| 81 | B | BARRICK MNG CORP | 216,126 | $9.41M | 0.10% | $43.55 | REDUCE | -11.6% |
| 82 | JNJ | JOHNSON & JOHNSON | 43,260 | $8.95M | 0.10% | $206.95 | REDUCE | -16.6% |
| 83 | PHIN | PHINIA INC | 140,144 | $8.79M | 0.09% | $62.69 | REDUCE | -0.0% |
| 84 | HCKT | HACKETT GROUP INC | 428,199 | $8.41M | 0.09% | $19.63 | REDUCE | -1.7% |
| 85 | APA | APA CORPORATION | 297,339 | $7.27M | 0.08% | $24.46 | REDUCE | -0.7% |
| 86 | LMT | LOCKHEED MARTIN CORP | 13,446 | $6.50M | 0.07% | $483.67 | REDUCE | -1.1% |
| 87 | CVX | CHEVRON CORP NEW | 41,499 | $6.32M | 0.07% | $152.41 | — | 0% |
| 88 | IWN | ISHARES TR | 33,319 | $6.04M | 0.07% | $181.21 | REDUCE | -25.9% |
| 89 | LESL | LESLIES INC | 2,836,373 | $4.68M | 0.05% | $1.65 | REDUCE | -3.7% |
| 90 | KB | KB FINL GROUP INC | 51,315 | $4.42M | 0.05% | $86.04 | — | 0% |
| 91 | AJG | GALLAGHER ARTHUR J & CO | 15,357 | $3.97M | 0.04% | $258.79 | ADD | +12.5% |
| 92 | MOS | MOSAIC CO NEW | 147,037 | $3.54M | 0.04% | $24.09 | REDUCE | -0.9% |
| 93 | ORCL | ORACLE CORP | 16,384 | $3.19M | 0.03% | $194.91 | REDUCE | -0.1% |
| 94 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | 10,162 | $3.09M | 0.03% | $303.89 | REDUCE | -9.7% |
| 95 | BWA | BORGWARNER INC | 64,987 | $2.93M | 0.03% | $45.06 | — | 0% |
| 96 | GS | GOLDMAN SACHS GROUP INC | 3,158 | $2.78M | 0.03% | $879.00 | REDUCE | -0.2% |
| 97 | BAP | CREDICORP LTD | 5,737 | $1.65M | 0.02% | $287.00 | ADD | +9.4% |
| 98 | VEA | VANGUARD TAX-MANAGED FDS | 24,473 | $1.53M | 0.02% | $62.47 | REDUCE | -57.4% |
| 99 | IFS | INTERCORP FINL SVCS INC | 34,668 | $1.47M | 0.02% | $42.36 | ADD | +7.7% |
| 100 | CPA | COPA HOLDINGS SA | 8,752 | $1.06M | 0.01% | $120.61 | NEW | — |
| 101 | KSPI | KASPI KZ JSC | 13,172 | $1.03M | 0.01% | $78.13 | ADD | +7.4% |
| 102 | HDB | HDFC BANK LTD | 13,151 | $480.54K | 0.01% | $36.54 | ADD | +42.3% |
| 103 | FICO | FAIR ISAAC CORP | 221 | $373.63K | 0.00% | $1690.62 | REDUCE | -0.9% |
| 104 | ZBH | ZIMMER BIOMET HOLDINGS INC | 3,229 | $290.35K | 0.00% | $89.92 | REDUCE | -99.2% |
| 105 | MSI | MOTOROLA SOLUTIONS INC | 755 | $289.41K | 0.00% | $383.32 | REDUCE | -0.7% |
| 106 | PGR | PROGRESSIVE CORP | 1,094 | $249.13K | 0.00% | $227.72 | REDUCE | -0.5% |
| 107 | BRC | BRADY CORP | 2,996 | $234.80K | 0.00% | $78.37 | REDUCE | -17.7% |
| 108 | IWD | ISHARES TR | 668 | $140.51K | 0.00% | $210.34 | NEW | — |
Positions exited in Q4 2025
| Ticker | Issuer | Prior shares |
|---|---|---|
| VOD | Vodafone Group PLC | 0 |
| FTRE | Fortrea Holdings Inc | 0 |
| HMN | Horace Mann Educators Corp | 0 |
| TIMB | TIM SA/Brazil | 0 |
| WBA | WALGREENS BOOTS ALLIANCE INC | 0 |
| INFY | INFOSYS LTD | 11,637 |
| CMA | COMERICA INC | 0 |
| ABX | BARRICK GOLD CORP | 0 |
| APTV | APTIV PLC | 1,150,265 |
| LESL | LESLIES INC | 0 |
| CNH | CNH INDL N V | 0 |
| RCL | ROYAL CARIBBEAN GROUP | 0 |
| ST | SENSATA TECHNOLOGIES HLDG PL | 0 |
| APTV | APTIV PLC | 0 |
| DOX | Amdocs Ltd | 0 |
| LAZ | Lazard Ltd | 0 |
| BIDU | BAIDU INC | 0 |
| ALL | ALLSTATE CORP | 69,734 |
| ABBV | ABBVIE INC | 0 |
| WAL | WESTERN ALLIANCE BANCORP | 258,384 |
| DHI | D R HORTON INC | 128,669 |
| IPG | INTERPUBLIC GROUP COS INC | 3,190,462 |
| DNB | DUN & BRADSTREET HLDGS INC | 0 |
| OC | OWENS CORNING NEW | 0 |
| 0VVB | PARAMOUNT GLOBAL | 0 |
| IWS | iShares Russell Mid-Cap Value ETF | 0 |
| VXUS | VANGUARD STAR FDS | 70,469 |
| VT | VANGUARD INTL EQUITY INDEX F | 27,685 |
| VZ | VERIZON COMMUNICATIONS INC | 1,166,712 |
| PM | PHILIP MORRIS INTL INC | 0 |
| DVA | DAVITA INC | 0 |
| LEN | LENNAR CORP | 0 |
| NOV | NOV INC | 0 |
| REYN | REYNOLDS CONSUMER PRODS INC | 0 |
| TDC | TERADATA CORP DEL | 0 |
| ZIMV | ZIMVIE INC | 0 |
| JD | JD.COM INC | 0 |
| EVR | Evercore Inc | 0 |
| PDCOEUR | Patterson Cos Inc | 0 |
| SRCLEUR | Stericycle Inc | 0 |
| — | Laboratory Corp of America Holdings | 0 |
| HP5A | Equity Commonwealth | 0 |
| ACWX | iShares MSCI ACWI ex U.S. ETF | 0 |
| VIV | TELEFONICA BRASIL SA | 0 |
| TFC | Truist Financial Corp | 0 |
| USB | US Bancorp | 0 |
| WU | Western Union Co/The | 0 |
| GSK | GSK PLC | 0 |
| VWO | Vanguard FTSE Emerging Markets ETF | 0 |
Source: SEC EDGAR 13F-HR filing Feb 13, 2026. Reported prices are derived from the filing's value-to-shares ratio (effectively the quarter-end mark). Filings are published with a 45-day delay. CIK 0000936753.