John Rogers

Last Update: 08-14-2017

Number of Stocks: 184
Number of New Stocks: 10

Total Value: $8,457 Mil
Q/Q Turnover: 7%

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 (%)
201615.5611.963.6
2015-4.11.38-5.5
201410.9513.69-2.7
3-Year Cumulative23 (7.1%/year)29 (8.9%/year)-6 (-1.8%/year)
201344.6832.3912.3
201220.32164.3
5-Year Cumulative114 (16.4%/year)98.2 (14.7%/year)15.8 (1.7%/year)
2011-11.342.11-13.5
201025.9715.0610.9
200963.4226.4637.0
2008-48.25-37-11.2
2007-1.75.49-7.2
10-Year Cumulative98.7 (7.1%/year)95.7 (6.9%/year)3 (0.2%/year)
200610.3515.79-5.4
20050.924.91-4.0
200421.9710.8811.1
200328.0428.68-0.6
2002-5.18-22.116.9
15-Year Cumulative227.7 (8.2%/year)164.2 (6.7%/year)63.5 (1.5%/year)
200114.21-11.8926.1
200028.77-9.137.9
1999-5.7621.04-26.8
19989.8928.58-18.7
199736.4433.363.1
20-Year Cumulative581 (10.1%/year)339.2 (7.7%/year)241.8 (2.4%/year)
199623.5122.960.6
199518.5237.58-19.1
1994-4.221.32-5.5
19938.7310.08-1.4
199211.737.624.1
25-Year Cumulative1060 (10.3%/year)791.8 (9.1%/year)268.2 (1.2%/year)
199132.7230.472.3
1990-16.08-3.1-13.0
198925.1131.69-6.6
198839.9216.6123.3
198711.45.16.3
30-Year Cumulative2419.5 (11.4%/year)1719.7 (10.2%/year)699.8 (1.2%/year)

Top Ranked Articles

6 Companies That Offer Strong Value Potential for 2nd-Quarter 2017 A deeper look at the value screeners and FZM scores
As discussed in previous articles, the GuruFocus value screeners can identify strong value opportunities for short-term and long-term investing. The following six companies made multiple value screeners as of Mar. 29: Wipro Ltd. (NYSE:WIT), The Cheesecake Factory Inc. (NASDAQ:CAKE), Casey’s General Stores Inc. (NASDAQ:CASY), Anika Therapeutics Inc. (NASDAQ:ANIK), F5 Networks Inc. (NASDAQ:FFIV) and Copart Inc. (NASDAQ:CPRT). These six companies offer strong value potential for second-quarter 2017. Read more...
John Rogers Comments on Bristow Group Inc. Guru stock highlight
Some holdings in the portfolio advanced considerably. Helicopter transportation company Bristow Group Inc. (NYSE:BRS) ascended +46.83% after recently secured financing put Wall Street at ease. The Street had worried the company would become financially distressed like a top competitor given the oil industry’s woes. Instead, Bristow arranged $300 million in debt, secured by a portion of its own helicopter fleet. In addition, oil rose during the year and the quarter, giving the stock a mild boost as well. We think its shares are undervalued given the company’s significant assets and depressed earnings. Read more...
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. Read more...
John Rogers Comments on Northern Trust Corp Guru stock highlight
In addition, wealth management firm Northern Trust Corp. (NASDAQ:NTRS) surged +31.58% on broad news that boosted many financial companies. Donald Trump’s unexpected win is good news for banks, asset managers, and investment banks. And, as anticipated, in mid-December the Federal Reserve raised its federal funds target rate 25 basis points to the 0.50% to 0.75% range, which helps boost bank profits on deposits. The Northern Trust is performing well, but its recent rise was due to external events. Read more...
John Rogers Comments on JLL Guru stock highlight
Also, real estate company JLL (NYSE:JLL) declined –10.89% on disappointing earnings. In early November the company reported quarterly earnings of $1.42, significantly below consensus of $2.00. Revenues were strong, but the impact of an acquisition, higher technology spending, a decline in incentive fees, and a significant write-down of receivables all hurt the bottom line. We think the quarter featured a rare confluence of one-time factors. To our minds, the long-term value of one of the top two global real estate players remains stable. Read more...
» More John Rogers Articles

Commentaries and Stories

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John Rogers' Ariel Investments July Commentary Warren Buffett once famously said, 'In the business world, the rearview mirror is always clearer than the windshield' John Rogers - John Rogers' Ariel Investments July Commentary
Domestically, Ariel hunts for value primarily amongst the small- and mid-cap universes. We also scour the globe for international companies of all sizes for our international and global portfolios. The aforementioned benchmarks track the performance of these asset classes. More...

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John Rogers Comments on U.S. Silica Holdings Guru stock highlight
We purchased one new position in Ariel Appreciation Fund in the second quarter of the year, and eliminated two others. We added U.S. Silica Holdings, Inc. (NYSE:SLCA), a niche supplier of sand to the oil and gas market, primarily servicing the process of hydraulic fracturing. The company is the second-largest producer of silica in the United States and boasts a differentiated logistics and transportation network that makes it a key and preferred supplier among its customer base. In our view, the market underappreciates the strength of the company’s competitive position, the likely pace of its revenue and earnings as demand for sand continues to meaningfully increase, and the attractive cash flow characteristics of its business. More...

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John Rogers Comments on Northern Trust Corp Guru stock highlight
Another strong contributor to performance was Northern Trust Corp. (NASDAQ:NTRS), up +12.77% in the second quarter. The stock price was buoyed by improving net interest margins and a favorable rate environment. In the first quarter of this year, the firm’s total assets under management hit the $1 trillion mark for the first time, largely due to a +13% increase over the last 12 months in its wealth management segment as well as an +11% increase in its larger corporate and institutional services arm. The bank should continue to feel a tailwind from a more constructive rate environment going forward. It operates in a favorable industry with a diversified product offering and high barriers to entry. Moreover, throughout the tumultuous last economic downturn and current recovery, Northern has proven the quality of its franchise and the value of its conservative operating approach. We continue to find the stock attractive at these levels. More...

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John Rogers Comments on First American Financial Corp Guru stock highlight
During the quarter, stocks in the portfolio performed quite well. Title insurer, First American Financial Corp. (NYSE:FAF) gained +14.67% after beating EPS consensus estimates by $0.10. Better-than-expected commercial revenues and a material lowering of the loss provision rate helped the company grow revenue by 10% versus the same period one year ago. The firm has faced several headwinds due to the sluggish U.S. housing market, but there are notable signs of improvement for spring selling season which should benefit FAF. We remain confident the stock still has upside as the U.S. housing market resumes its gradual recovery. More...

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John Rogers' Ariel Appreciation Fund 2nd Quarter Commentary Review of holdings and stocks John Rogers - John Rogers' Ariel Appreciation Fund 2nd Quarter Commentary
Quarter Ended June 30, 2017 More...

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John Rogers Comments on Nielsen Holdings Plc Guru stock highlight
Nielsen Holdings Plc (NYSE:NLSN), the global provider of critical data and analytics about what consumers watch and buy, was the lone addition to Ariel Fund during the quarter. The company’s television ratings are the de facto currency for media and advertising decisions totaling hundreds of billions of dollars globally. Its consumer purchase data is unmatched in scope and scale, and therefore mission-critical information for the world’s leading consumer packaged goods players. As both television viewership and purchasing behavior become more fragmented across online and mobile devices, investors are concerned that Nielsen’s dominance is at risk. But, in our view, this fragmentation only makes Nielsen’s data more valuable. As such, we see the current fears as an opportunity to own a market share leading information services brand with highly recurring and growing free cash flows. We did not eliminate any positions during the quarter. More...

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John Rogers Comments on Viacom Inc. Guru stock highlight
Also detracting from performance was multinational media conglomerate Viacom, Inc. (NASDAQ:VIAB), which saw its shares fall -27.59% during the period. The company reported adjusted EPS of $0.79 vs. consensus of $0.59, with revenues up +8% year-over-year. Despite the positive news, investors remain wary of the company’s ability to execute its strategic plan, as changing media consumption patterns and technology create more general concerns about the cable business model. Nevertheless, Viacom is the owner of valuable content, including children’s programming and comedy, and a leading movie production franchise with more than 3,300 motion pictures in its library. Despite critics’ arguments that fundamentals will remain negative at those media network companies serving kids and teens and at those lacking live sports programming, 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
Some other holdings in the portfolio underperformed. Helicopter transport company supplier Bristow Group Inc. (NYSE:BRS) declined -49.19% as continued oil price weakness and disappointing earnings weighed heavily on the stock. The company’s management team lowered guidance around profitability and accelerated necessary cost cutting. Despite this short-term weakness, management reiterated that it expected to see stronger results in the second half of the fiscal year as recent contract wins come online. Management also reaffirmed the firm’s commitment to maintaining total liquidity over $200 million, highlighting the successful renegotiation of the company’s short-term debt obligations late last year. We expect to see continued short-term volatility in the company’s quarterly earnings reports. While we recognize the company faces several headwinds, we do not believe it is facing any significant risk of insolvency. Continued weakness in the energy market will be a headwind to the company short-term. However, we believe the value of the helicopters that Bristow owns creates a potential margin of safety1, as the company’s assets More...

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John Rogers Comments on JLL Guru stock highlight
Another stand-out performer in the portfolio was JLL (NYSE:JLL), a premier real estate services firm. It gained +12.49% during the quarter. Strength was consistent across almost all of the company’s business segments with only capital markets and asset management experiencing weakness. As a worldwide leader in a critical niche, where global scale and expertise is crucial to customers, we expect the company will continue to benefit from accelerating trends of globalization, the outsourcing of real estate services, and institutional demand for commercial real estate. More...

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John Rogers Comments on Zebra Technologies Guru stock highlight
Some stocks in the portfolio performed quite well. Zebra Technologies Corp. (NASDAQ:ZBRA)—a leading global supplier of solutions to help companies track physical assets and make smarter decisions—gained +10.16% during the period, driven predominantly by strong earnings. We believe the company's brand strength, distribution network and resources devoted to innovation enable it to gain market share, earn industry-leading profitability, and penetrate new growth markets. We view the company as an industry leader with a strong management team, well -positioned to benefit from secular global demand for asset tracking solutions, especially in developing economies. More...

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John Rogers' Ariel Funds 2nd Quarter Commentary Review of holdings and market John Rogers - John Rogers' Ariel Funds 2nd Quarter Commentary
Quarter Ended June 30, 2017 More...

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John Rogers' Ariel Investments June Commentary Beyond 2017, the last 12 months have clearly been a great year for stocks John Rogers - John Rogers' Ariel Investments June Commentary
Domestically, Ariel hunts for value primarily amongst the small- and mid-cap universes. We also scour the globe for international companies of all sizes for our international and global portfolios. The aforementioned benchmarks track the performance of these asset classes. More...

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Hedge Fund Managers Run Away From British American Tobacco Despite holdings reductions, the stock is up in the past 3 months John Rogers, John Burbank, Jim Simons, Ken Fisher, - Hedge Fund Managers Run Away From British American Tobacco
British American Tobacco PLC (NYSE:BTI) sells tobacco products in about 180 countries, of which it holds a leadership position in several. Dunhill, Kent, Pall Mall, Lucky Strike and Rothmans account for a significant portion of its sales. More...

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High-Yield Stocks at Cheap Prices All-In-One Screener IDs poorly performing stocks with high dividend yields John Rogers,Jim Simons,Chuck Royce,David Rolfe,Cha - High-Yield Stocks At Cheap Prices
According to GuruFocus' All-In-One Screener, the following stocks have high dividend yields but performed poorly over the past 12 months. More...

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8 Stocks With Low Prices and High Yields Companies with poor 12-month performances Jim Simons,John Rogers,Chuck Royce,Charles Brandes - 8 Stocks With Low Prices And High Yields
According to GuruFocus' All-in-One Screener, the following stocks have high dividend yields but performed poorly over the past 12 months. More...

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The Tortoise Is in the Logo for a Reason John Rogers invokes the fable of the tortoise and the hare to make the case for his patient approach to value investing John Rogers - The Tortoise Is In The Logo For A Reason
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GURU, INVESTING GURUS, JOHN ROGERS, ARIEL, INTELLIGENT INVESTING, MUTUAL FUNDS, SMALL CAP, MID CAP, VALUE FUND, INTRINSIC VALUE, DEEP VALUE, GLOBAL, FINANCIALS, CONSUMER CYCLICALS


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Mattel Faces the Reinvention Challenge Toy company unveils plan to deliver enhanced and sustainable growth T Rowe Price Equity Income Fund,John Rogers,Jana P - Mattel Faces The Reinvention Challenge
After gaining a new CEO in January, Mattel Inc. (NASDAQ:MAT) revealed its strategic growth plan at an investor day on June 14. More...

MATTEL, TOYS, GROWTH, VALUE, PLAN


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8 High Yield Stocks With Declining Prices Companies with poor 12-month performances John Rogers,Jim Simons,Chuck Royce,Mario Gabelli,R - 8 High Yield Stocks With Declining Prices
According to GuruFocus' All-in-One Screener, the following stocks have high dividend yields but performed poorly over the past 12 months. More...

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John Rogers' Ariel Investments May Commentary 'We believe the market has gotten a bit ahead of itself,' Rogers says in review of the month John Rogers - John Rogers' Ariel Investments May Commentary
Ariel hunts for value amongst the small-, mid- and large-cap universes, as well as international stocks. The benchmarks above track the performance of these asset classes. More...

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John Rogers of Ariel Fund Reduces 4 Positions Rogers sold several of his major stakes John Rogers - John Rogers Of Ariel Fund Reduces 4 Positions
John Rogers (Trades, Portfolio), head of Ariel Investments, has trimmed four portfolio positions exceeding 5% of outstanding shares, he reported this week. More...

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