Insight into Ariel Investments' Latest 13F Filings for Q3 2023
John Rogers (Trades, Portfolio), the esteemed founder of Ariel Investment, LLC, and a renowned Forbes columnist, has made significant moves in the third quarter of 2023, as revealed in the latest 13F report. Rogers, who launched the firm in 1983, is known for his 'Patient Investor' column and his focus on undervalued small and mid-cap stocks. His investment philosophy centers on patience, independent thinking, and a long-term perspective, aiming to identify companies with high barriers to entry, sustainable competitive advantages, and the potential for double-digit cash earnings growth. Rogers targets stocks trading at low valuations relative to their potential earnings or intrinsic worth.
New Additions to the Portfolio
John Rogers (Trades, Portfolio) has expanded his portfolio with the addition of 4 new stocks in the third quarter of 2023. The most significant new positions include:
- New Oriental Education & Technology Group Inc (EDU, Financial), with 216,727 shares, making up 0.08% of the portfolio and valued at $8.56 million.
- iQIYI Inc (IQ, Financial), comprising 913,751 shares, which account for approximately 0.05% of the portfolio, with a total value of $4.88 million.
- CME Group Inc (CME, Financial), with 15,518 shares, representing 0.03% of the portfolio and a total value of $2.88 million.
Key Position Increases
In addition to new acquisitions, John Rogers (Trades, Portfolio) has increased stakes in 34 stocks. Noteworthy increases include:
- The Carlyle Group Inc (CG, Financial), with an additional 2,413,794 shares, bringing the total to 5,446,414 shares. This represents a substantial 79.59% increase in share count, a 0.73% impact on the current portfolio, and a total value of $174.01 million.
- Charles River Laboratories International Inc (CRL, Financial), with an additional 364,786 shares, bringing the total to 1,047,840 shares. This adjustment signifies a 53.41% increase in share count, with a total value of $220.31 million.
Positions Sold Out
Rogers also exited positions in 3 holdings during the third quarter of 2023, including:
- Cardinal Health Inc (CAH, Financial), where all 258,578 shares were sold, impacting the portfolio by -0.19%.
- Berkshire Hathaway Inc (BRK.B, Financial), with the liquidation of all 12,950 shares, causing a -0.04% impact on the portfolio.
Significant Reductions in Holdings
Furthermore, John Rogers (Trades, Portfolio) reduced his position in 72 stocks. The most significant reductions are:
- Royal Caribbean Group (RCL, Financial) by 727,326 shares, resulting in a -26.39% decrease in shares and a -0.46% impact on the portfolio. The stock traded at an average price of $78.20 during the quarter.
- Microsoft Corp (MSFT, Financial) by 157,142 shares, leading to a -17.99% reduction in shares and a -0.44% impact on the portfolio. The stock's average trading price was $313.01 during the quarter.
Portfolio Overview
As of the third quarter of 2023, John Rogers (Trades, Portfolio)'s portfolio consists of 115 stocks. The top holdings include 3.58% in Baidu Inc (BIDU, Financial), 3.05% in Mattel Inc (MAT, Financial), 2.76% in Philip Morris International Inc (PM, Financial), 2.66% in Kennametal Inc (KMT, Financial), and 2.47% in Generac Holdings Inc (GNRC, Financial). The portfolio is mainly concentrated in the industries of these leading positions.
The strategic moves by John Rogers (Trades, Portfolio), particularly the significant increase in The Carlyle Group Inc, reflect his confidence in the company's growth potential and his commitment to a value-driven investment approach. Investors and potential members of GuruFocus.com can gain valuable insights from Rogers's latest 13F filings as they navigate the investment landscape.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
