Ariel Investments, LLC
Ariel Investments, LLC is an independent asset management firm headquartered in Chicago, Illinois. Founded in 1983, the firm specializes in patient, long-term investing across both publicly traded and private companies. Ariel serves institutions and individual investors globally, and is recognized for its research-driven approach and focus on undervalued opportunities. The firm is a minority-owned business and has expanded its platform with several affiliates and alternative investment offerings. As of 2025, Ariel employs approximately 108 people.
Investment Strategy
Ariel Investments is renowned for its disciplined, patient approach to value investing. The firm seeks to identify undervalued securities of high-quality companies with solid balance sheets, sustainable competitive advantages, and strong management teams. Ariel typically invests with a long-term horizon, focusing on both small- and mid-cap public equities as well as select private investments. Their strategy incorporates deep fundamental research, an emphasis on risk management, and a commitment to diversity and responsible stewardship.
Latest 13F Filing Activity
Ariel Investments, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 104 equity positions with a total 13F market value of $9B. The fund increased holdings in Sphere Entertainment Co., Onespaworld Holdings Limited, Norwegian Cruise Line HLDG L among other positions. Ariel Investments, LLC reduced exposure to Smucker J M Co., Interpublic Group Cos Inc., Kennametal Inc. among others.
Top Holdings
Equity Positions (104)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
M MSGE | MADISON SQUARE GARDEN ENTMT | 3.58% | $315.6M | 7,896,008 | $34.02 | $39.97 | +$61.0M |
S SPHR | SPHERE ENTERTAINMENT CO | 3.36% | $296.8M | 7,100,237 | $60.66 | $41.80 | +$90.7M |
M MAT | MATTEL INC | 3.18% | $280.4M | 14,220,786 | $16.90 | $19.72 | +$11.2M |
L LAZ | LAZARD INC | 3.13% | $276.1M | 5,753,997 | $41.23 | $47.98 | +$32.8M |
O OSW | ONESPAWORLD HOLDINGS LIMITED | 3.05% | $269.4M | 13,213,156 | $12.28 | $20.39 | +$89.5M |
Industry Allocation
Investment Team (21)
| Name | Role | Location | |
|---|---|---|---|
C Clark Chang | Research Analyst | New York, NY , United States | |
 | Client Portfolio Manager | Chicago, IL , United States | |
D David Kwon | Global Equity Research | New York, NY , United States | |
 | Research Associate | New York, NY , United States | |
J John Rogers | Founder, Chairman, Co-Chief Executive Officer and Chief Investment Officer | Chicago, IL , United States | |
K Kevin Buttigieg | Equity Research Analyst | New York, NY , United States | |
 | Senior Sustainable Investment Research Analyst | Chicago, IL , United States | |
V Vladimir Byalik | Portfolio Manager - Emerging Markets Value | New York, NY , United States | |
A Annie C | Equity Research - Healthcare | New York, NY , United States | |
B Barry C. | Vice President Equity | New York, NY , United States |