ARIEL INVESTMENTS LLC
Q3 2023 Form 13-F

CHICAGO, ILLINOIS
CIK 0000936753 · CRD 108211 · SEC-registered investment adviser
Consolidated report · includes 2 managers since Q4 2021
$9.4B Reported Value Total

ARIEL INVESTMENTS, LLC reports 210 total accounts under management (AUM). There are 208 discretionary accounts valued at $14,794,395,707, and 2 non-discretionary accounts valued at $40,433,149.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary Manager
Firm Brochure (Part 2A) Client Relationship Summary (Form CRS)
Private funds (Form ADV)
3 funds · $205.5M gross asset value
Other: $205.5M
Source: Form ADV filed 2026-07-28
Reported value
$9.4B
Quarter over quarter
-7.4%
Holdings
115
Top-10 concentration
25.9%

Filing Structure

Reports holdings for

Holdings reported by

Key People

Form ADV owners & control persons
Mellody Louise Hobson Lucas
MEMBER OF ARIEL INVESTMENTS HOLDING COMPANY, LLC
John Washington Rogers
SHAREHOLDER IN ACMI, INC., A MEMBER OF ARIEL INVESTMENTS HOLDING COMPANY, LLC
Charles Kellogg Bobrinskoy
VICE CHAIRMAN
Q2 2023
Q4 2023
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Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q3 2023 13F filing summary

Period of report September 30, 2023
Filed November 14, 2023
Form 13F-HR
Reported value $9.4B
Positions 115
Change in reported value -10.5%
New positions 5
Exited positions 6
Position turnover 9.1%
Top-10 concentration 25.9%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 14, 2026
 106 $10.0B
Q1 2026 13F
Filed May 14, 2026
 106 $8.9B
Q4 2025 13F
Filed Feb 13, 2026
 108 $9.3B
Q3 2025 13F
Filed Nov 14, 2025
 107 $9.4B
Q2 2025 13F
Filed Aug 14, 2025
 104 $8.8B
Q1 2025 13F
Filed May 15, 2025
 106 $8.5B
Q4 2024 13F
Filed Feb 14, 2025
 110 $9.4B
Q3 2024 13F
Filed Nov 13, 2024
 110 $9.8B
Q2 2024 13F
Filed Aug 14, 2024
 115 $9.2B
Q1 2024 13F
Filed May 14, 2024
 115 $10.2B
Q4 2023 13F
Filed Feb 14, 2024
 114 $10.0B
Q3 2023 13F
Filed Nov 14, 2023
 115 $9.4B
Q2 2023 13F
Filed Aug 14, 2023
 116 $10.6B
Q1 2023 13F
Filed May 12, 2023
 114 $10.4B
Q4 2022 13F
Filed Feb 14, 2023
 116 $9.8B
Q3 2022 13F
Filed Nov 14, 2022
 114 $9.1B
Q2 2022 13F
Filed Aug 12, 2022
 112 $10.0B
Q1 2022 13F
Filed May 13, 2022
 106 $11.3B
Q4 2021 13F
Filed Feb 14, 2022
 104 $11.9B
Q3 2021 13F
Filed Nov 12, 2021
 109 $10.9B

33 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q3 2023

# Holding Reported value % of portfolio
1 MAT Mattel Inc $344.9M 3.65%
2 BIDU Baidu Inc $288.4M 3.05%
3 KMT Kennametal Inc $242.3M 2.56%
4 MSGE Madison Square Garden Entertainment Corp $236.8M 2.51%
5 PM Philip Morris International Inc $227.7M 2.41%
6 GNTX Gentex Corp $225.0M 2.38%
7 LAZ Lazard Ltd $222.3M 2.35%
8 JLL Jones Lang LaSalle Inc $222.3M 2.35%
9 GNRC Generac Holdings Inc $219.0M 2.32%
10 CLB Core Laboratories Inc $217.6M 2.3%
11 REZI Resideo Technologies Inc $217.4M 2.3%
12 CRL Charles River Laboratories International Inc $209.0M 2.21%
13 FAF First American Financial Corp $206.2M 2.18%
14 SRCL Stericycle Inc $193.5M 2.05%
15 CG Carlyle Group Inc/The $192.0M 2.03%
16 BYD Boyd Gaming Corp $185.5M 1.96%
17 MSFT Microsoft Corp $182.6M 1.93%
18 BOKF BOK Financial Corp $181.7M 1.92%
19 NTRS Northern Trust Corp $178.9M 1.89%
20 MHK Mohawk Industries Inc $176.7M 1.87%

Values as reported on the Q3 2023 Form 13F. Every position is in the holdings table below.

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