John Rogers

Last Update: 09-12-2016

Number of Stocks: 192
Number of New Stocks: 6

Total Value: $7,965 Mil
Q/Q Turnover: 5%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

John Rogers' s Profile & Performance

Profile

John Rogers is the Founder of Ariel Investment, LLC, which he started in 1983. As of 2008, the firm had over $15.5 billion in assets under management. John manages Ariel's small and mid-cap institutional portfolios as well as the Ariel Fund (ARGFX) and Ariel Appreciation Fund (CAAPX). He is also a long-term Forbes columnist writing a column called "Patient Investor."

Web Page:http://www.arielmutualfunds.com/

Investing Philosophy

Rogers has concentrated his investment selection on small and medium-sized companies whose share prices are undervalued. He believes that patience, independent thinking, and a long-term outlook are essential to achieving good returns. His fund seeks to purchase companies whose prospects include high barriers to entry, sustainable competitive advantages, and predictable fundamentals that allow for double digit cash earnings growth. Rogers purchases companies when they are trading at a low valuation relative to potential earnings (p/e less than 13x forward cash earnings) and/or a low valuation relative to intrinsic worth (40% discount to private market value - PMV).

Total Holding History

Performance of Ariel Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
2015-4.11.19-5.3
201410.9513.69-2.7
201344.6832.3912.3
3-Year Cumulative53.9 (15.5%/year)52.3 (15.1%/year)1.6 (0.4%/year)
201220.32164.3
2011-11.342.11-13.5
5-Year Cumulative64.2 (10.4%/year)80.4 (12.5%/year)-16.2 (-2.1%/year)
201025.9715.0610.9
200963.4226.4637.0
2008-48.25-37-11.2
2007-1.75.49-7.2
200610.3515.79-5.4
10-Year Cumulative89.8 (6.6%/year)102 (7.3%/year)-12.2 (-0.7%/year)
20050.924.91-4.0
200421.9710.8811.1
200328.0428.68-0.6
2002-5.18-22.116.9
200114.21-11.8926.1
15-Year Cumulative223.9 (8.2%/year)107.5 (5%/year)116.4 (3.2%/year)
200028.77-9.137.9
1999-5.7621.04-26.8
19989.8928.58-18.7
199736.4433.363.1
199623.5122.960.6
20-Year Cumulative627.9 (10.4%/year)381.4 (8.2%/year)246.5 (2.2%/year)
199518.5237.58-19.1
1994-4.221.32-5.5
19938.7310.08-1.4
199211.737.624.1
199132.7230.472.3
25-Year Cumulative1232.2 (10.9%/year)937.3 (9.8%/year)294.9 (1.1%/year)
1990-16.08-3.1-13.0
198925.1131.69-6.6
198839.9216.6123.3
198711.45.16.3

Top Ranked Articles

Ariel Investments' Monthly Commentary While showing that growth has outperformed value, company reaffirms commitment to value philosophy
Ariel Investments, founded by guru John Rogers (Trades, Portfolio), just published its monthly commentary, and it continues where it left off other months – reiterating value is out of fashion. However it brings out the data to back this up and shows that, over the trailing one-year, three-year, five-year and 10-year periods, growth has outperformed value. Read more...
John Rogers Comments on Microsoft Corp Guru stock highlight
Computing giant Microsoft Corp. (NASDAQ:MSFT) gained +25.95% after reporting continued growth and operating momentum in cloud-based businesses such as Azure cloud and Office 365. The company also benefitted as it guided to lower-than-expected expenses for the full year. We continue to hold the shares. Read more...
John Rogers Comments on First American Financial Corp Guru stock highlight
Some of our holdings held up relatively well in the very difficult quarter. Mortgage insurer First American Financial Corp. (NYSE:FAF) gained +5.68% due to a strong earnings report. Wall Street anticipated solid revenue growth but once again underappreciated the company’s powerful operating leverage. As a result, the company’s $0.83 per share in operating earnings smashed the $0.67 consensus estimate. We continue to think the company is in very good shape in a soft but improving housing market and can do even better if housing fully recovers. Read more...
John Rogers Comments on Gaiam Inc. Guru stock highlight
Lifestyle and media company Gaiam, Inc. (NASDAQ:GAIA), which we owned previously in our micro-cap strategy, recent sold off enough to make it, in our eyes, a bargain. Gaiam’s strong brand in yoga and fitness, its media library of more than 6,000 exclusive titles, and its distribution network of more than 38,000 retail locations are all valuable assets. Strong and incentivized leadership plus an attractive valuation were additional key factors in our purchase. Read more...
John Rogers Comments on Dialog Semiconductor plc Guru stock highlight
Other holdings underperformed in the falling market. Semiconductor maker Dialog Semiconductor plc (XTER:DLG) slid -26.10% after announcing it will buy Atmel Corp. for roughly $4.6 billion in stock and cash. The market disliked the deal, which it considered to be too large. We disagree: the logic makes sense to us, because it would diversify Dialog’s reliance on the mobile phone industry. We continue to hold the shares. Read more...
» More John Rogers Articles

Commentaries and Stories

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Ariel Funds Comments on Harman Intl Industries Inc. Guru stock highlight
Also, Harman Intl Industries, Inc. (NYSE:HAR) fell -19.07% in the second quarter, after a disappointing earnings report. The company missed estimates and also lowered its full-year guidance. Results in its professional unit were considerably weaker, down more than 5% from a year earlier. We continue to think the shift toward “infotainment” will turn the brand around. More...

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Ariel Funds Comments on Baidu Inc. Guru stock highlight
Other holdings experienced a short-term struggle. Baidu, Inc. (NASDAQ:BIDU) shares fell -13.48% in the second quarter. Chinese regulators opened an investigation on news that a university student died after using the site to find alternative treatments for cancer. Baidu implemented changes, such as capping the number of ads per page to 30% and establishing a 1 billion yuan fund to fight fraud. More...

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Ariel Funds Comments on GlaxoSmithKline plc Guru stock highlight
In addition, GlaxoSmithKline plc (NYSE:GSK) rallied +7.74%1 in the second quarter, after reporting profit growth for the first time since 2013. Glaxo is seeing benefits from its purchase of Novartis’ vaccines unit. Demand for vaccines and new drugs helped offset declines in the sales of blockbuster asthma medication Advair. More...

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Ariel Funds Comments on Johnson & Johnson Guru stock highlight
Medical giant Johnson & Johnson (NYSE:JNJ) rallied +12.66%, due to a strong earnings report. In April the company beat analysts’ estimates and also raised guidance for the year. Earnings were driven by strong sales of drugs like Stelara and Xarelto. At this point pharmaceuticals are the company’s largest business division—ahead of powerhouses such as medical devices and consumer health products. We think the trajectory of the business continues to point upward. More...

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John Rogers' Ariel Global Fund 2nd Quarter Commentary Discussion of economy and holdings John Rogers - John Rogers' Ariel Global Fund 2nd Quarter Commentary
For the second quarter in a row, investors will likely remember the harrowing ride better than the end result. That is, domestic stocks posted solid gains and foreign shares had relatively mild losses. In the meantime, however, there was Brexit. On June 23, 2016 the British people shocked the world by voting for the United Kingdom to exit the European Union—an enormously complex and economically risky decision. As you know, the market hates uncertainty. And so in response, foreign stocks plummeted - 10%, small caps dove -7%, and large caps sank -5%. But once investors fully digested the news, stocks jumped back up—nearly erasing their losses in the U.S. Overseas the short-term damage from Brexit still showed; the financial-heavy value indexes significantly lagged the core and growth indexes. In the end, U.S. value fare outpaced growth stocks for the second quarter in a row—definitively ending a very long run of outperformance from the growth side. More...

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10 Stocks John Rogers Keeps Buying Guru's repeat purchases in the last 2 quarters John Rogers - 10 Stocks John Rogers Keeps Buying
John Rogers (Trades, Portfolio) is the founder of Ariel Investment LLC, which he started in 1983. He is also a long-term Forbes columnist, writing a column called "Patient Investor." In both the first and second quarters, the guru bought shares in the following stocks. More...

ROGERS, TRADES, BUY


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Ariel Funds: Interest Rates Are Gravity That Pulls Stocks Down Charles Bobrinskoy on what to expect from interest rate changes John Rogers - Ariel Funds: Interest Rates Are Gravity That Pulls Stocks Down
Charles Bobrinskoy of Ariel Investments, the firm founded by John Rogers (Trades, Portfolio), spoke to CNBC about his views on interest rates. Bobrinksoy doesn't expect the Fed to raise rates tomorrow but says it will eventually. High rates have unintended consequences and harm savers, Bobrinksoy also said. More...

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Charles Bobrinkskoy of Ariel Funds: Stock Market Is Not That Expensive Bobrinskoy thinks you can still buy cheap sectors regardless of Fed actions John Rogers - Charles Bobrinkskoy Of Ariel Funds: Stock Market Is Not That Expensive
Ariel Investments Vice Chairman and Head of Investment Group Charles Bobrinkskoy advises investors not to try to time the Fed's interest rates decision and buy underpriced sectors. Light cyclicals and financials are very cheap right now, he said. He mentions powertrain company BorgWarner (NYSE:BWA) as an example of an attractve stock. More...

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John Rogers' Ariel Investments August Commentary A review of the market and mutual fund inflows and outflows John Rogers - John Rogers' Ariel Investments August Commentary
We think investing in the markets without knowing about recent shifts is a bit like trying to hit a piñata while blindfolded (of course). So in our commentaries we strive to give overviews to our investors. In May we examined year-to-date returns. As you may remember, value fare was outperforming growth, especially in smaller-cap stocks; a reversal of the growth-dominated rally that started in early 2009. This month we examine mutual fund flows, because they are another tool for measuring investment sentiment. More...

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John Rogers Comments on Abbott Laboratories Guru stock highlight
In addition, cardiovascular muscle devices maker St. Jude Medical, Inc. (NYSE:STJ) popped +42.39% after a takeout offer. Specifically, Abbott Laboratories (NYSE:ABT) offered $ 46.75 in cash and 0.9 shares of Abbott stock for each share of St. Jude. The stock jumped more than 25% on the news of the offering. More...

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John Rogers Comments on KKR & Co. L.P. Guru stock highlight
Also, private equity group KKR & Co. L.P. (NYSE:KKR) declined -15.00% due to a soft earnings report combined with Brexit fears. The company reported a loss of -$0.65 per share, well below consensus of -$0.34 per share. The key reason for the miss was an unfavorable mark-to-market on the balance sheet, largely due to its First Data Corp. (FDC) holding. Then, as Brexit occurred toward the end of the quarter, KKR was one of the hardest-hit stocks in the financial sector. We think the short-term earnings report and the overreaction to a political shift do little to harm the company’s long-term value. More...

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John Rogers Comments on BorgWarner Inc. Guru stock highlight
Other holdings experienced a short-term struggle. Powertrain expert BorgWarner Inc. (NYSE:BWA) returned -22.83% since we purchased it in February after lowering multi-year expectations. Although the company’s growth over the next couple of years may not be as strong as previously expected, it continues to grow. Plus its long-term prospects are excellent. The market continues to worry over the emergence of all-electric vehicles. Yet we believe BorgWarner still has a huge position in traditional as well as hybrid vehicles, which together, we think, will likely constitute a vast majority of the market for years to come. Moreover, it is not simply an American company but a global player. We continue to think the company’s present is solid and its future very bright. More...

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John Rogers Comments on Barrick Gold Corp Guru stock highlight
Some of our holdings performed well during the quarter. Gold miner Barrick Gold Corp. (NYSE:ABX) jumped +57.40% as the price of gold continued to rise. Specifically, gold rose from approximately $1,220 to $1,320 over the course of the quarter. The jump proved big for gold miners as their product jumped in price but their costs remained stable. Barrick remains the biggest and, we think, the best gold miner. More...

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John Rogers' Ariel Focus Fund 2nd Quarter Commentary Investor reviews economy and holdings John Rogers - John Rogers' Ariel Focus Fund 2nd Quarter Commentary
For the second quarter in a row, investors will likely remember the harrowing ride better than the end result. That is, domestic stocks posted solid gains and foreign shares had relatively mild losses. In the meantime, however, there was Brexit. On June 23, 2016 the British people shocked the world by voting for the United Kingdom to exit the European Union—an enormously complex and economically risky decision. As you know, the market hates uncertainty. And so in response, foreign stocks plummeted - 10%, small caps dove -7%, and large caps sank -5%. But once investors fully digested the news, stocks jumped back up—nearly erasing their losses in the U.S. Overseas the short-term damage from Brexit still showed; the financial-heavy value indexes significantly lagged the core and growth indexes. In the end, U.S. value fare outpaced growth stocks for the second quarter in a row—definitively ending a very long run of outperformance from the growth side. More...

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John Rogers Buys MSG Networks Guru adds to holding in cable and satellite TV company John Rogers,Mario Gabelli,First Eagle Investment,J - John Rogers Buys MSG Networks
John Rogers (Trades, Portfolio) of Ariel Investment LLC purchased 1,884,145 shares in MSG Networks Inc. (NYSE:MSGN) for an average price of $16.05 per share on July 31. He now holds 6,268,842 shares. More...

ROGERS, ENTERTAINMENT, BUY


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John Rogers Discusses Buffett-Inspired Moats in July Commentary Ariel Funds seeks companies with durable competitive advantage John Rogers - John Rogers Discusses Buffett-Inspired Moats In July Commentary
As you know, Ariel traces its philosophical lineage directly to the world’s greatest investor, Warren Buffett (Trades, Portfolio). Buffett’s beliefs and teachings have influenced many aspects of our core traditional value strategy, from the importance of staying within a well-defined circle of competence to the topic we will discuss this month: the economic moat1. More...

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John Rogers Comments on Viacom Guru stock highlight
During the second quarter, we added media company Viacom, Inc. (NASDAQ:VIAB) to Ariel Fund. While acknowledging investor concerns toward the cable business model stemming from changing media consumption patterns and technology platforms, we view Viacom as an underappreciated security in the market. Also a current holding in Ariel Appreciation Fund, we believe Viacom’s content will provide attractive economics regardless of the distribution medium. More...

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John Rogers Comments on Bristow Group Inc. Guru stock highlight
Also, helicopter services company Bristow Group Inc. (NYSE:BRS) returned - 39.41% due to uncertainty in its business. As you know, oil prices increased more than +25% over the course of the quarter—which marginally improves its business in the intermediate term. Yet the market reacted poorly to its quarterly earnings report: it earned $0.13 per share versus the consensus of $0.55. Plus, management declined to give guidance for its oil and gas segment. While earnings are temporarily constrained we think the long-term opportunity remains sound. More...

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John Rogers Comments on Lazard Ltd Guru stock highlight
Other holdings experienced a short-term struggle. Asset manager and transaction advisor Lazard Ltd (NYSE:LAZ) fell -22.44% after a weak earnings report. Specifically, the company reported adjusted quarterly earnings of $0.50 per share, short of the consensus $0.65 expectation. Revenues were a bit light, while a higher compensation ratio drove the bulk of the miss. In addition, there were net outflows of $361 million in the quarter. We continue to believe the company has a considerable advantage in the crucial emerging markets investment niche. More...

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John Rogers Comments on Dun & Bradstreet Corp Guru stock highlight
In addition, credit specialist Dun & Bradstreet Corp. (NYSE:DNB) rose +18.67% after a strong earnings report. After some disappointing numbers in 2015, Wall Street lost faith that the company would get back to its traditional growth rates. This quarter revenues were strong in the U.S., margins were materially better than expected, and so the adjusted earnings per share hit $1.18 (well above the $0.95 consensus). We think Dun & Bradstreet has a solid plan to keep growing, so we plan to remain patient—as we have been all along. More...

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