13F-HR 1 d66681_13f-hr.txt 13F HR 4TH QTR 2005 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/05 Check here if Amendment |_|; Amendment Number: This Amendment (Check only one.): |_| is a restatement. |X| adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Ariel Capital Management, LLC Address: 200 E. Randolph Drive Suite 2900 Chicago, IL 60601 13F File Number: 28-04003 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Wendy D. Fox Title: Vice President/Chief Compliance Officer Phone: 312-726-0140 Signature, Place, and Date of Signing: /s/ Wendy D. Fox Chicago, IL February 14, 2006 ----------------------------------- ---------------- -------------------- Report Type (Check only one.): |X| 13F HOLDINGS REPORT. |_| 13F NOTICE. |_| 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 149 Form 13F Information Table Value Total: $19,018,227,000 List of Other Included Managers: 0 FORM 13F INFORMATION TABLE

TITLE OF SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP VALUE PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ----------------------- ----- --------- ------- ------- --- ---- ------- ---------- ----- ------ ---- ACCENTURE LTD. COM G1150G111 394579 13667439 SH SOLE 10875964 0 2791475 ACCENTURE LTD. COM G1150G111 7633 264400 SH OTHER 104600 0 159800 ACCO BRANDS CORP COM 00081T108 83772 3419272 SH SOLE 2187372 0 1231900 ACCO BRANDS CORP COM 00081T108 129 5245 SH OTHER 0 0 5245 AMBAC INC COM 23139108 394565 5120236 SH SOLE 4342401 0 777835 AMBAC INC COM 23139108 5570 72280 SH OTHER 29080 0 43200 AMERICAN GREETINGS CORP. COM 26375105 214348 9756374 SH SOLE 8080579 0 1675795 ANDREW CORP. COM 34425108 243874 22728209 SH SOLE 19139759 0 3588450 ANDREW CORP. COM 34425108 29 2660 SH OTHER 2660 0 0 ANIXTER INTERNATIONAL, INC. COM 35290105 294295 7522869 SH SOLE 6065894 0 1456975 ARAMARK CORP COM 38521100 411592 14816111 SH SOLE 13535341 0 1280770 ARAMARK CORP COM 38521100 3298 118715 SH OTHER 47815 0 70900 ASSURED GUARANTY LTD COM G0585R106 234726 9244806 SH SOLE 7852306 0 1392500 ASSURED GUARANTY LTD COM G0585R106 126 4975 SH OTHER 0 0 4975 BAXTER INTL INC COM 71813109 255537 6787173 SH SOLE 5459828 0 1327345 BAXTER INTL INC COM 71813109 4858 129035 SH OTHER 54435 0 74600 BEARINGPOINT INC COM 74002106 230598 29338208 SH SOLE 25940058 0 3398150 BEARINGPOINT INC COM 74002106 93 11800 SH OTHER 0 0 11800 BERKSHIRE HATHAWAY INC DEL CL COM 84670207 487 166 SH SOLE 166 0 0 BIO RAD LABS INC COM 90572207 90630 1384936 SH SOLE 1121736 0 263200 BIO RAD LABS INC COM 90572207 39 600 SH OTHER 0 0 600 BLACK & DECKER CORP. COM 91797100 331947 3817234 SH SOLE 3230424 0 586810 BLACK & DECKER CORP. COM 91797100 4662 53610 SH OTHER 21285 0 32325 BLOCK H & R INC. COM 93671105 208857 8507429 SH SOLE 6827294 0 1680135 BLOCK H & R INC. COM 93671105 3597 146500 SH OTHER 57800 0 88700 BLOUNT INTL INC COM 95180105 86041 5401163 SH SOLE 3392438 0 2008725 BLOUNT INTL INC COM 95180105 88 5500 SH OTHER 0 0 5500 BOB EVANS FARMS, INC. COM 96761101 167627 7269173 SH SOLE 5850691 0 1418482 BRADY CORP. COM 104674106 384757 10634519 SH SOLE 8295419 0 2339100 BRADY CORP. COM 104674106 217 5995 SH OTHER 1125 0 4870 CAREER EDUCATION CORP COM 141665109 437360 12970354 SH SOLE 11686784 0 1283570 CAREER EDUCATION CORP COM 141665109 3945 117000 SH OTHER 46000 0 71000 CARNIVAL PAIRED CERTIFICATES COM 143658300 143950 2692162 SH SOLE 2155602 0 536560 CARNIVAL PAIRED CERTIFICATES COM 143658300 2657 49700 SH OTHER 19900 0 29800 CENDANT CORP. COM 151313103 156446 9069337 SH SOLE 7360092 0 1709245 CENDANT CORP. COM 151313103 2836 164400 SH OTHER 65000 0 99400 CERTEGY INC. COM 156880106 99389 2450416 SH SOLE 1993141 0 457275 CHITTENDEN CORP COM 170228100 119209 4286561 SH SOLE 3408768 0 877793 CHITTENDEN CORP COM 170228100 110 3952 SH OTHER 0 0 3952 CITIGROUP INC COM 172967101 554 11425 SH SOLE 11425 0 0 CLOROX CO. COM 189054109 189206 3325816 SH SOLE 2665661 0 660155 CLOROX CO. COM 189054109 3428 60250 SH OTHER 24000 0 36250 DEVRY, INC. COM 251893103 121391 6069564 SH SOLE 4978914 0 1090650 DEVRY, INC. COM 251893103 110 5510 SH OTHER 0 0 5510 DUN & BRADSTREET CORP. COM 26483E100 148233 2213756 SH SOLE 1848241 0 365515 DUN & BRADSTREET CORP. COM 26483E100 2096 31307 SH OTHER 13907 0 17400 EDWARDS A G INC COM 281760108 92881 1982100 SH SOLE 1982100 0 0 ENERGIZER HLDGS, INC. COM 29266R108 344149 6912001 SH SOLE 5728851 0 1183150 ENERGIZER HLDGS, INC. COM 29266R108 151 3040 SH OTHER 0 0 3040 EQUIFAX INC. COM 294429105 229993 6049261 SH SOLE 5117026 0 932235 EQUIFAX INC. COM 294429105 3316 87220 SH OTHER 34920 0 52300 FISHER SCIENTIFIC INTL INC COM 338032204 384385 6213790 SH SOLE 5416707 0 797083 FISHER SCIENTIFIC INTL INC COM 338032204 4648 75130 SH OTHER 30886 0 44244 FRANKLIN RES INC. COM 354613101 277268 2949345 SH SOLE 2368290 0 581055 FRANKLIN RES INC. COM 354613101 5147 54750 SH OTHER 22375 0 32375 GAP INC COM 364760108 344 19525 SH SOLE 19525 0 0 GREATER BAY BANCORP COM 391648102 116539 4548763 SH SOLE 3529538 0 1019225 GREATER BAY BANCORP COM 391648102 109 4245 SH OTHER 0 0 4245 HARTE-HANKS INC COM 416196103 242190 9177348 SH SOLE 8143336 0 1034012 HARTE-HANKS INC COM 416196103 2515 95285 SH OTHER 38385 0 56900 HASBRO INC. COM 418056107 316542 15685921 SH SOLE 13080116 0 2605805 HASBRO INC. COM 418056107 151 7465 SH OTHER 0 0 7465 HCC INSURANCE HOLDINGS, INC. COM 404132102 467475 15750496 SH SOLE 13247713 0 2502783 HCC INSURANCE HOLDINGS, INC. COM 404132102 173 5812 SH OTHER 0 0 5812 HEWITT ASSOCS INC COM 42822Q100 261351 9330620 SH SOLE 9330620 0 0 HEWITT ASSOCS INC COM 42822Q100 50 1785 SH OTHER 1785 0 0 HORACE MANN EDUCATORS CORP. COM 440327104 174323 9194230 SH SOLE 7253365 0 1940865 IDEX CORP. COM 45167R104 404936 9850060 SH SOLE 8062811 0 1787249 IDEX CORP. COM 45167R104 160 3892 SH OTHER 0 0 3892 IMS HEALTH INC. COM 449934108 368385 14782712 SH SOLE 13283802 0 1498910 IMS HEALTH INC. COM 449934108 3449 138385 SH OTHER 55985 0 82400 INTERFACE, INC. COM 458665106 67721 8238514 SH SOLE 5247414 0 2991100 INTERFACE, INC. COM 458665106 113 13790 SH OTHER 0 0 13790 INTERPUBLIC GROUP COS INC. COM 460690100 394458 40876447 SH SOLE 36756442 0 4120005 INTERPUBLIC GROUP COS INC. COM 460690100 3911 405335 SH OTHER 163735 0 241600 INTL BUSINESS MACHINES COM 459200101 535 6510 SH SOLE 6510 0 0 INVACARE CORP. COM 461203101 244113 7752075 SH SOLE 6228553 0 1523522 INVACARE CORP. COM 461203101 28 900 SH OTHER 900 0 0 INVESTORS FINL SVCS CORP COM 461915100 209487 5687945 SH SOLE 5687945 0 0 ISHARES TR RUSL 2000 VALU COM 464287630 670 10160 SH SOLE 10160 0 0 ISHARES TR RUSSELL MID CAP COM 464287473 4312 34653 SH SOLE 34653 0 0 JANUS CAP GROUP INC COM 47102X105 577879 31018715 SH SOLE 25790515 0 5228200 JANUS CAP GROUP INC COM 47102X105 3732 200330 SH OTHER 80130 0 120200 JOHNSON CTLS INC COM 478366107 288517 3957170 SH SOLE 3179075 0 778095 JOHNSON CTLS INC COM 478366107 5271 72300 SH OTHER 28600 0 43700 JONES LANG LASALLE, INC. COM 48020Q107 363026 7210040 SH SOLE 5658470 0 1551570 JOURNAL REGISTER, CO. COM 481138105 84022 5620194 SH SOLE 3625764 0 1994430 JPMORGAN CHASE & CO COM 46625H100 513 12930 SH SOLE 12930 0 0 LEE ENTERPRISES, INC. COM 523768109 293816 7960334 SH SOLE 6414254 0 1546080 LEE ENTERPRISES, INC. COM 523768109 183 4950 SH OTHER 820 0 4130 LIBBEY, INC. COM 529898108 30414 2975903 SH SOLE 1895028 0 1080875 LITTELFUSE, INC. COM 537008104 78987 2898592 SH SOLE 1867667 0 1030925 MARKEL CORP. COM 570535104 456094 1438554 SH SOLE 1206314 0 232240 MARKEL CORP. COM 570535104 207 654 SH OTHER 160 0 494 MATTEL INC COM 577081102 265973 16812476 SH SOLE 14257071 0 2555405 MATTEL INC COM 577081102 3740 236400 SH OTHER 94800 0 141600 MATTHEWS INTL CORP. COM 577128101 113318 3112273 SH SOLE 2251018 0 861255 MATTHEWS INTL CORP. COM 577128101 154 4230 SH OTHER 380 0 3850 MBIA, INC. COM 55262C100 361747 6013086 SH SOLE 5094346 0 918740 MBIA, INC. COM 55262C100 5097 84732 SH OTHER 33632 0 51100 MCCLATCHY CO. COM 579489105 269392 4558247 SH SOLE 4083297 0 474950 MCCLATCHY CO. COM 579489105 2479 41950 SH OTHER 17000 0 24950 MCCORMICK & CO INC. COM 579780206 267583 8654036 SH SOLE 7456301 0 1197735 MILLER HERMAN INC. COM 600544100 247701 8786828 SH SOLE 7423308 0 1363520 MILLER HERMAN INC. COM 600544100 30 1070 SH OTHER 1070 0 0 MOHAWK INDS INC COM 608190104 328938 3781766 SH SOLE 3210291 0 571475 MOHAWK INDS INC COM 608190104 4587 52740 SH OTHER 21240 0 31500 MORGAN STANLEY DEAN WITTER COM 617446448 544 9595 SH SOLE 9595 0 0 NORTHERN TRUST CORP. COM 665859104 332898 6424127 SH SOLE 5167697 0 1256430 NORTHERN TRUST CORP. COM 665859104 5367 103565 SH OTHER 47565 0 56000 OMNICARE INC COM 681904108 351665 6145845 SH SOLE 5417115 0 728730 OMNICARE INC COM 681904108 3875 67715 SH OTHER 27615 0 40100 OMNICOM GROUP INC. COM 681919106 252888 2970608 SH SOLE 2386473 0 584135 OMNICOM GROUP INC. COM 681919106 4657 54710 SH OTHER 21985 0 32725 PFIZER INC COM 717081103 874 37460 SH SOLE 37460 0 0 PITNEY BOWES INC. COM 724479100 410328 9711897 SH SOLE 8169677 0 1542220 PITNEY BOWES INC. COM 724479100 6078 143855 SH OTHER 57480 0 86375 POPULAR INC COM 733174106 271508 12837263 SH SOLE 11566007 0 1271256 POPULAR INC COM 733174106 2528 119518 SH OTHER 48156 0 71362 RADIO ONE INC. COM 75040P405 167213 16155831 SH SOLE 13596956 0 2558875 S & T BANCORP INC COM 783859101 93589 2541807 SH SOLE 1575132 0 966675 SCHERING PLOUGH CORP COM 806605101 67694 3246700 SH SOLE 3246700 0 0 SERVICEMASTER CO. COM 81760N109 353820 29608375 SH SOLE 23607815 0 6000560 SERVICEMASTER CO. COM 81760N109 2165 181195 SH OTHER 66100 0 115095 SKY FINL GROUP INC COM 83080P103 222411 7994649 SH SOLE 6621224 0 1373425 SKY FINL GROUP INC COM 83080P103 135 4835 SH OTHER 0 0 4835 SMUCKER, J.M. COMPANY COM 832696405 250046 5682861 SH SOLE 4779949 0 902912 SOTHEBY'S HLDGS INC. COM 835898107 137247 7475306 SH SOLE 5904266 0 1571040 SOTHEBY'S HLDGS INC. COM 835898107 112 6100 SH OTHER 0 0 6100 ST PAUL TRAVELERS COM 792860108 740 16555 SH SOLE 16555 0 0 STEELCASE INC. COM 858155203 266070 16807946 SH SOLE 14110421 0 2697525 STEELCASE INC. COM 858155203 31 1945 SH OTHER 1945 0 0 SYBRON DENTAL SPECIALTIES INC. COM 871142105 183979 4621432 SH SOLE 3714057 0 907375 SYBRON DENTAL SPECIALTIES INC. COM 871142105 147 3700 SH OTHER 0 0 3700 T ROWE PRICE GROUP INC. COM 74144T108 195199 2709970 SH SOLE 2193685 0 516285 T ROWE PRICE GROUP INC. COM 74144T108 3629 50380 SH OTHER 19930 0 30450 TD BANKNORTH INC COM 87235A101 266481 9173184 SH SOLE 8180657 0 992527 TD BANKNORTH INC COM 87235A101 2589 89105 SH OTHER 35994 0 53111 TOYOTA MTR CORP ADR 1 SH COM 892331307 665 6360 SH SOLE 6360 0 0 TRIBUNE CO. COM 896047107 301222 9954473 SH SOLE 8100778 0 1853695 TRIBUNE CO. COM 896047107 5542 183150 SH OTHER 73350 0 109800 VALASSIS INC. COM 918866104 269076 9256151 SH SOLE 7508536 0 1747615 VALASSIS INC. COM 918866104 26 885 SH OTHER 885 0 0 WADDELL & REED FINL INC. COM 930059100 69222 3300982 SH SOLE 2056707 0 1244275 WAL MART STORES INC COM 931142103 566 12100 SH SOLE 12100 0 0 WASTE MGMT INC COM 94106L109 99511 3278766 SH SOLE 2124401 0 1154365 WASTE MGMT INC COM 94106L109 3445 113500 SH OTHER 44300 0 69200 YUM BRANDS INC. COM 988498101 239174 5101838 SH SOLE 4101648 0 1000190 YUM BRANDS INC. COM 988498101 4402 93900 SH OTHER 37300 0 56600

LINE COUNT: 149