Ariel Investments, led by noted value investor John Rogers, significantly reduced its holding in Intel Corp. during the second quarter of 2026. According to a delayed 13F disclosure filed with the SEC in mid-August, the firm sold nearly 915,000 shares, cutting its position by 62%. This trade took place during a period of massive share price appreciation for the semiconductor giant, which saw its stock rise dramatically in the first half of the year amid enthusiasm for artificial intelligence.
Reflecting the stock's strong performance, the reported value of Ariel's smaller stake actually rose to $76.6 million. The sale could represent a strategic rebalancing or profit-taking. While an Ariel fund commentary from the end of the quarter expressed a positive long-term view on Intel's AI-driven growth, John Rogers has voiced broader concerns in 2026 about high valuations among popular AI-related stocks.