John Rogers

Last Update: 06-10-2016

Number of Stocks: 194
Number of New Stocks: 16

Total Value: $8,301 Mil
Q/Q Turnover: 9%

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

John Rogers Comments on Stanley Black & Decker Guru stock highlight
Some of our holdings had good returns for the quarter. Toolmaker Stanley Black & Decker, Inc.(NYSE:SWK) jumped +10.92% due to strong earnings. The market expected the company to earn $0.95 per share, while it managed to make $1.07. Revenues, gross margins and operating margins all advanced. We continue to see the company as having and nicely defending a good competitive position. Read more...
John Rogers Comments on Goldman Sachs Group Inc. Guru stock highlight
We continue to see the company as having and nicely defending a good competitive position. In addition, investment bank Goldman Sachs Group Inc (NYSE:GS) rose +11.42%, as it continued to be in a good spot. It did not have any particularly surprising news, but as the market advanced, big financial firms strongly outperformed. The market continues to see Goldman as one of the top leaders in the broad industry, and we agree with that sentiment. Read more...
John Rogers Comments on Lockheed Martin Corp Guru stock highlight
Other holdings slid in the volatile three-month period. Defense and aeronautics company Lockheed Martin Corporation (NYSE:LMT) fell -7.68%, despite an earnings beat. Specifically, the company announced earnings of $2.74 per share; the Wall Street estimate had been $2.50. Revenues were actually a bit short of expectations, so the market took the stock down a bit, given its relatively full valuation. We continue to see it as a very high-quality enterprise with a strong competitive advantage. Read more...
John Rogers Comments on Chesapeake Energy Corp Guru stock highlight
Also, natural gas explorer Chesapeake Energy Corporation (NYSE:CHK) declined -20.65% as clouds continued to hang over the stock. The price of natural gas has declined nearly 40% over the past 12 months, and Chesapeake has become a favorite for short sellers as short interest has nearly quadrupled in just more than six months. Declines in prices for both natural gas and crude oil have brought increased scrutiny to Chesapeake debt level. We continue to own the stock. Read more...
John Rogers Buys DeVry, American Express A rundown of guru's largest buys in the 1st quarter
John Rogers (Trades, Portfolio) is the founder of Ariel Investment LLC, which he started in 1983. During the first quarter he bought shares in the following stocks: Read more...
» More John Rogers Articles

Commentaries and Stories

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John Rogers Comments on Chesapeake Energy Corp Guru stock highlight
Also, natural gas explorer Chesapeake Energy Corporation (NYSE:CHK) declined -20.65% as clouds continued to hang over the stock. The price of natural gas has declined nearly 40% over the past 12 months, and Chesapeake has become a favorite for short sellers as short interest has nearly quadrupled in just more than six months. Declines in prices for both natural gas and crude oil have brought increased scrutiny to Chesapeake debt level. We continue to own the stock. More...

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John Rogers Comments on Lockheed Martin Corp Guru stock highlight
Other holdings slid in the volatile three-month period. Defense and aeronautics company Lockheed Martin Corporation (NYSE:LMT) fell -7.68%, despite an earnings beat. Specifically, the company announced earnings of $2.74 per share; the Wall Street estimate had been $2.50. Revenues were actually a bit short of expectations, so the market took the stock down a bit, given its relatively full valuation. We continue to see it as a very high-quality enterprise with a strong competitive advantage. More...

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John Rogers Comments on Goldman Sachs Group Inc. Guru stock highlight
We continue to see the company as having and nicely defending a good competitive position. In addition, investment bank Goldman Sachs Group Inc (NYSE:GS) rose +11.42%, as it continued to be in a good spot. It did not have any particularly surprising news, but as the market advanced, big financial firms strongly outperformed. The market continues to see Goldman as one of the top leaders in the broad industry, and we agree with that sentiment. More...

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John Rogers Comments on Stanley Black & Decker Guru stock highlight
Some of our holdings had good returns for the quarter. Toolmaker Stanley Black & Decker, Inc.(NYSE:SWK) jumped +10.92% due to strong earnings. The market expected the company to earn $0.95 per share, while it managed to make $1.07. Revenues, gross margins and operating margins all advanced. We continue to see the company as having and nicely defending a good competitive position. More...

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John Rogers Buys DeVry, American Express A rundown of guru's largest buys in the 1st quarter John Rogers,T Rowe Price Equity Income Fund,PRIMEC - John Rogers Buys DeVry, American Express
John Rogers (Trades, Portfolio) is the founder of Ariel Investment LLC, which he started in 1983. During the first quarter he bought shares in the following stocks: More...

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John Rogers Exits Blount International in 1st Quarter Guru trims holdings in JM Smucker and Newell Brands John Rogers - John Rogers Exits Blount International In 1st Quarter
The largest first-quarter transactions made by John Rogers (Trades, Portfolio), founder of Ariel Investment LLC, were not acquisitions but sales of stakes and portions of stakes in his portfolio. Here is a rundown of some of his largest deals. More...

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John Rogers Commentary for Month Ended May 31, 2016 Review of the month John Rogers - John Rogers Commentary For Month Ended May 31, 2016
We traditionally examine domestic market leadership near the midpoint of the year. At this point last year, growth stocks were crushing value equities as optimism dominated. This year the mood has shifted significantly, highlighted by value stocks’ leadership. Here are the 12 Russell indexes we use to assess this sentiment: More...

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John Rogers Comments on STRATTEC Security Corp Guru stock highlight
STRATTEC Security Corp. (NASDAQ:STRT) designs, manufactures and sells automotive access control products. It has a clean balance sheet and trades near tangible book value. Additionally, advancement in automated cars should provide a tailwind, driving demand for STRATTEC products. Lastly, West Marine, Inc. (WMAR) operates retail stores for boating supplies and accessories. The company trades at a sizable discount to book value despite being profitable, and has a clean balance sheet with no debt and excess cash. West Marine is positioned to take advantage of an ongoing recovery in the boating industry. More...

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John Rogers Comments on Real Industry Inc. Guru stock highlight
Real Industry Inc. (NASDAQ:RELY) is a holding company based in Southern California backed by notable investors, including Sam Zell. With over $800 million in federal net operating losses (NOLs), management plans to acquire cash generating, stand-alone businesses that can utilize the NOL asset. Its first major purchase was Real Alloy, an aluminum recycling company. We believe the value of Real Alloy alone is more than the current market capitalization of Real Industry. More...

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John Rogers Comments on Rentech Inc. Guru stock highlight
Also, clean energy solutions provider Rentech, Inc. (NASDAQ:RTK) dropped -36.93% amidst disappointing short-term earnings. Specifically, the company posted a loss of $0.48 after analysts predicted a loss of $0.08. As long-term owners of the stock, we know the business can be relatively lumpy and are comfortable with it. We continue to believe the market misunderstands the company, it structure and its promise. More...

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John Rogers Comments on Century Casinos Inc. Guru stock highlight
Other holdings slid in the short term. Gaming firm Century Casinos, Inc. (NASDAQ:CNTY) slid -20.82% after a weak earnings report. Specifically, the company reported $0.03 in earnings per share, missing consensus estimates of $0.11—largely due to soft revenues. We continue to think the stock trades at a deep discount to its intrinsic worth and believe its long-term trajectory will surpass Wall Street expectations. More...

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John Rogers Comments on Contango Oil & Gas Co. Guru stock highlight
In addition, natural resources exploration and production company Contango Oil & Gas Co. (MCF) gained +83.93% as the price of oil recovered during the quarter. There was no other significant news beyond oil’s rebound—which was good news enough for Contango. Crude oil started 2016 at close to $37 per barrel, sank to a low of $26 in mid-February, then marched back above $40 before settling back a bit. Although the commodity essentially was flat, the rebound showed its year-and-a-half long slide has perhaps found a floor. We continue to think Contango has unrecognized value. More...

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John Rogers Comments on ORBCOMM Inc. Guru stock highlight
Machine-to-machine communications company ORBCOMM, Inc. (NASDAQ:ORBC) continued the nice run it began in late 2015, rising +39.92%. There was not much news in 2016, but as we mentioned in late 2015, the unfolding story was only starting to take hold and should have long legs in our view. With its full satellite “constellation” launched and operational, the company’s once-considerable capital expenditures will dwindle and profits can now fall to the bottom line. We have been selling into strength but still own the stock. More...

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John Rogers' 1st Quarter 2016 Ariel Discovery Fund Commentary Review of economy and holdings John Rogers - John Rogers' 1st Quarter 2016 Ariel Discovery Fund Commentary
The first quarter of 2016 was flat in some places and down slightly in others, but we doubt most investors remember it that way. The carnage in January was harsh, and daily volatility has been high, so many likely think of it as a rough three months. Yet the last half of the quarter largely recouped the losses from the first half. Among the three broad indexes tracking our asset classes, one was up a small amount and the other two were down. U.S. large caps were up a small amount. On the other hand, domestic small caps slipped a bit and foreign stocks were down. When U.S. large caps are up while U.S. small caps and foreign stocks retreat, we generally think it says more about sentiment than economics. That is, U.S. large caps are seen as providing stability whereas small caps and foreign stocks are seen as more risky. The discrepancy between domestic value and growth indexes says the same. That is, growth indexes from the large-, mid-, and small- cap universe ranged from less than +1% up to down nearly -5%, while the value counterparts were up more than +1% to +4%. For more than a year investor sentiment has gone up and down without a strong trend. More...

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John Rogers Comments on Bristow Group Inc. Guru stock highlight
Also, helicopter operator Bristow Group Inc. (NYSE:BRS) fell -26.60% on two pieces of news: a helicopter crash and a dividend cut. Helicopter crashes are quite rare and very unfortunate, but they do occur. Turning to the dividend cut, some saw it as cause for worry, but we thought it represented prudent balance sheet management. Wall Street fears that oil companies will not only cut exploration but also production—which would hurt Bristow. While exploration cuts are realistic possibilities; we think production cuts are quite unlikely. The stock’s volatility has created buying opportunities. More...

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John Rogers Comments on JLL Guru stock highlight
Other holdings slid in the short term. Real estate expert JLL (NYSE:JLL) drifted -26.61% after a soft earnings report. The company reported adjusted earnings per share of $4.53, below the consensus estimate of $4.78. Currency had the biggest negative impact, although revenues were soft even though they were up year-over-year. Management delivered a steady outlook and said leasing volumes are improving. We are quite content to own this powerhouse through the ups and downs of the business cycle. More...

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John Rogers Comments on Mattel Inc. Guru stock highlight
In addition, toymaker Mattel, Inc. (NASDAQ:MAT) jumped +25.27% on news of its merger discussions with Hasbro, Inc. (NASDAQ:HAS). Nothing has happened to date, and nothing may happen. We find the news encouraging because it shows strategic flexibility. We think the company will thrive with or without a merger, and that it can continue to adapt as the digital entertainment world grows. More...

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John Rogers Comments on Brady Corp Guru stock highlight
Some of our holdings had strong returns for the quarter. Identification solutions specialist Brady Corp. (NYSE:BRC) surged +17.87% after a very strong earnings report. The company posted earnings per share of $ 0.30, well above the $0.23 consensus. Revenues were up slightly before currency effects, with operating margins improving a great deal. Moreover, management increased earnings guidance by roughly 10%. The company continues to focus on its growing circle of competence, a strategy we applaud. More...

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John Rogers' 1st Quarter 2016 Ariel Fund Commentary A review of the economy and stock holdings John Rogers - John Rogers' 1st Quarter 2016 Ariel Fund Commentary
The first quarter of 2016 was flat in some places and down slightly in others, but we doubt most investors remember it that way. The carnage in January was harsh, and daily volatility has been high, so many likely think of it as a rough three months. Yet the last half of the quarter largely recouped the losses from the first half. Among the three broad indexes tracking our asset classes, one was up a small amount and the other two were down. U.S. large caps were up a small amount. On the other hand, domestic small caps slipped a bit and foreign stocks were down. When U.S. large caps are up while U.S. small caps and foreign stocks retreat, we generally think it says more about sentiment than economics. That is, U.S. large caps are seen as providing stability whereas small caps and foreign stocks are seen as more risky. The discrepancy between domestic value and growth indexes says the same. That is, growth indexes from the large-, mid-, and small- cap universe ranged from less than +1% up to down nearly -5%, while the value counterparts were up more than +1% to +4%. For more than a year investor sentiment has gone up and down without a strong trend. More...

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Ariel Investments Discusses Banks Banks getting to end of fines John Rogers - Ariel Investments Discusses Banks
Charles Bobrinskoy of Ariel Investments likes banks because they seem inexpensive and had only short-term problems. He thinks Citigroup (NYSE:C) is too difficult to analyze, but JPMorgan (NYSE:JPM) is attractive. More...

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