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The information provided in this interview does not provide information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. This material should not be considered an offer for any of the securities referenced. The information contained in the interview is not guaranteed as to its accuracy or completeness, and the opinions expressed therein were current as of the date of the interview but are subject to change. Portfolio holdings are subject to change. The industry and individual security investment discussions are not reflective of a specific product. See the Products section of our website for current product holdings for the strategies managed by John W. Rogers, Jr.

Investing in equity stocks is risky and subject to the volatility of the markets. A value investment strategy seeks undervalued stocks that show a strong potential for growth. The intrinsic value of the stocks in which a value strategy invests may be based on incorrect assumptions or estimations, may be affected by declining fundamentals or external forces, and may never be recognized by the broader market. Attempting to purchase with a margin of safety on price cannot protect investors from the volatility associated with stocks, incorrect assumptions or estimations on our part, declining fundamentals or external forces.

Ariel Investments’ assets under management as of June 30, 2022 was $16.1 billion, which included $1.18 billion for Ariel Alternatives, a subsidiary of Ariel Investments.