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Funds (13F)

Ariel Investments, LLC

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+13.9%
S&P 500 +14.1%
Last 12 months
+24.9%
S&P 500 +12.1%
Sharpe ratio
0.68
S&P 500 0.78
Biggest drop
−35.9%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$55.9k
Ariel Investments, LLCS&P 500 $10,000 in Ariel Investments, LLC from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Ariel Investments, LLC's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Ariel Investments, LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+13.9%+14.1%
Total return+459%+470%
Last 12 months+24.9%+12.1%
Last 3 months+2.3%—
Last month+6.6%—
This year so far+16.9%—
Volatility a year18.8%16.0%
Sharpe ratio0.680.78
Biggest drop−35.9%−31.8%
Beta to the S&P 5001.041.00
Alpha a year (t-statistic)−0.2% (−0.07)—
Share of weeks up59%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
MSGE4.3%——
OSW4.2%——
CRL3.4%——
AMG3.4%——
JLL3.3%——
NCLH3.3%——
GNRC2.9%——
SPHR2.9%——
MIDD2.8%——
MSGS2.6%——
NVST2.6%——
ZBRA2.4%——
LAZ2.4%——
BIO2.4%——
PBH2.3%——
BOKF2.3%——
FAF2.2%——
CVSA2.2%——
MAT2.1%——
MHK2.1%——
MANU2.1%——
GNTX2.1%——
SJM2.0%——
BYD1.9%——
CG1.9%——
REZI1.9%——
NTRS1.7%——
CLB1.6%——
HAE1.6%——
RLI1.5%——
MAS1.3%——
AXTA1.2%——
ADT1.2%——
LH1.0%——
SMG1.0%——
KN0.9%——
BCO0.9%——
OMC0.9%——
XRAY0.8%——
LIND0.8%——
INTC0.8%——
CVS0.8%——
LFUS0.8%——
DIS0.6%——
FSLR0.6%——
GCMG0.5%——
SLB0.5%——
FDS0.5%——
KEYS0.5%——
NVT0.5%——
PPL0.5%——
SCHW0.5%——
WEX0.5%——
CBRE0.5%——
MTB0.4%——
BMY0.4%——
T0.4%——
KKR0.4%——
AQN0.4%——
DT0.3%——
HPE0.3%——
HLI0.3%——
FITB0.3%——
KFY0.3%——
FDX0.3%——
BAC0.3%——
AFL0.3%——
FISV0.3%——
GILD0.3%——
COF0.2%——
RCL0.2%——
SSD0.2%——
CNP0.2%——
KMX0.2%——
MTN0.1%——
PGR0.1%——
SNA0.1%——
MGPI0.1%——
PHIN0.1%——
JNJ0.1%——
TSM0.1%——
FDXF0.1%——
B0.1%——
APA0.1%——
CVX0.1%——
LMT0.1%——
AJG0.0%——
BWA0.0%——
MOS0.0%——
ORCL0.0%——
HDB0.0%——
MSI0.0%——
KMT0.0%——
ZBH0.0%——
BRC0.0%——
FICO0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+13.9%+14.1%0.680.78−35.9%1.04−0.2% (−0.07)
2018 onwards5 Jan 2018 to 2 Nov 2026+12.1%+13.9%0.510.66−35.9%1.04−1.4% (−0.40)
Last three years3 Nov 2023 to 2 Nov 2026+22.1%+21.8%0.941.16−21.3%0.93+2.2% (0.29)
Last year7 Nov 2025 to 2 Nov 2026+26.1%+14.2%1.260.84−10.8%0.73+13.1% (0.95)
DateCompanyAction
21 Aug 2026PPLBought
21 Aug 2026HLIBought
21 Aug 2026HAEBought
21 Aug 2026FDXFBought
21 Aug 2026DTBought
21 Aug 2026COFBought
15 May 2026SMGBought
15 May 2026RCLBought
15 May 2026FITBBought
20 Feb 2026XRAYBought
20 Feb 2026TBought
20 Feb 2026RLIBought
20 Feb 2026OMCBought
20 Feb 2026HPEBought
20 Feb 2026FDSBought
20 Feb 2026BMYBought
21 Nov 2025SKYDBought
21 Nov 2025HUMBought
21 Nov 2025HDBBought
21 Nov 2025FDXBought
21 Nov 2025AJGBought
15 Aug 2025FSLRBought
15 Aug 2025DISBought
15 Aug 2025BBought
16 May 2025PGRBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026TAPSold
21 Aug 2026SWKSold
21 Aug 2026SKYDSold
21 Aug 2026MSFTSold
21 Aug 2026HCKTSold
15 May 2026NTAPSold
15 May 2026HUMSold
15 May 2026GSSold
15 May 2026COFSold
15 May 2026CHKPSold
20 Feb 2026WALSold
20 Feb 2026VZSold
20 Feb 2026DHISold
20 Feb 2026APTVSold
20 Feb 2026ALLSold
21 Nov 2025OCSold
15 Aug 2025PMSold
15 Aug 2025CNHSold
15 Aug 2025ABBVSold
16 May 2025TDCSold
16 May 2025STSold
16 May 2025REYNSold
16 May 2025RCLSold
16 May 2025NOVSold
16 May 2025LENSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest