UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Ariel Capital Management, Inc.
Address: 307 N. Michigan Ave.
Suite 500
Chicago, IL 60601
13F File Number: 801-18767
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: Cheryl Cargie
Title: Vice President, Head Trader
Phone: 312-726-0140
Signature, Place, and Date of Signing:
Cheryl Cargie Chicago, Illinois Febuary 2, 2000
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
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FORM 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 49
FORM 13F INFORMATION TABLE VALUE TOTAL: $3,502,262,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
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FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- - ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- ---------------
ALLERGAN INC COM 018490102 13319 267710 SH SOLE 234650 0 33060
AVERY DENNISON CORP COM COM 053611109 30472 418140 SH SOLE 344855 0 73285
BOB EVANS FARMS COM 096761101 112247 7271055 SH SOLE 6958305 0 312750
BRADY CORP COM 104674106 139257 4103330 SH SOLE 4024080 0 79250
CARNIVAL CRUISE LINE INC CL A COM 143658102 21333 446170 SH SOLE 386755 0 59415
CENTRAL NEWSPAPERS INC CL A COM 154647101 166476 4227974 SH SOLE 3992819 0 235155
CENTURYTEL, INC COM 156700106 52982 1118355 SH SOLE 916865 0 201490
CLOROX CO COM 189054109 38043 755187 SH SOLE 610507 0 144680
DAY RUNNER INC COM COM 239545106 8637 2211190 SH SOLE 217006 0 41125
DEPARTMENT 56 INC COM COM 249509100 70606 3120725 SH SOLE 306265 0 58100
EQUIFAX INC COM 294429105 35310 1498575 SH SOLE 127255 0 225720
FRANKLIN RES INC COM COM 354613101 33127 1033210 SH SOLE 85240 0 175970
GALILEO INTL INC COM COM 363547100 25188 841345 SH SOLE 65845 0 145500
GALLAGHER ARTHUR J & CO COM COM 363576109 48351 746735 SH SOLE 83100 0 63635
GENERAL BINDING CORP COM 369154109 32756 2787781 SH SOLE 734581 0 53200
GRACO INC COM COM 384109104 64264 1791330 SH SOLE 1755930 0 35400
GREY ADVERTISING INC COM COM 397838103 70312 175781 SH SOLE 172446 0 333
HARTE-HANKS COMM, INC. COM 416196103 20422 938940 SH SOLE 759890 0 179050
HASBRO BRADLEY INC COM 418056107 142047 7500817 SH SOLE 7027492 0 473325
HCC INS HLDGS INC COM COM 404132102 63675 4828420 SH SOLE 4733270 0 95150
HORACE MANN EDUCATORS CP NEWCO COM 440327104 77006 3923880 SH SOLE 3846605 0 77275
HOUGHTON MIFFLIN CO COM 441560109 40899 969465 SH SOLE 829010 0 140455
HUNT CORP COM COM 445591100 15335 1614180 SH SOLE 1614180 0 0
HUSSMANN INTL INC COM COM 448110106 99956 6636106 SH SOLE 6316481 0 319625
IDEX CORP COM COM 45167R104 95304 3137580 SH SOLE 3074680 0 62900
INTERFACE , INC. CL A COM 458665106 46764 8132855 SH SOLE 7971255 0 16160
INTERNATIONAL GAME TECH COM COM 459902102 159012 7828260 SH SOLE 7339400 0 488860
LEE ENTERPRISES INC COM COM 523768109 180530 5652610 SH SOLE 5304235 0 348375
LEGGETT & PLATT INC COM 524660107 109064 5087530 SH SOLE 4737990 0 349540
LIBBEY INC COM COM 529898108 90969 3164155 SH SOLE 3048060 0 116095
LITTELFUSE INC COM COM 537008104 81745 3368760 SH SOLE 3314760 0 54000
LONGS DRUG STORES INC COM 543162101 105954 4104745 SH SOLE 3870880 0 233865
MBIA INC COM 55262C100 166352 3149855 SH SOLE 2956930 0 192925
MBNA CORP COM COM 55262L100 37175 1364237 SH SOLE 1146937 0 217300
MCCLATCHY CO CL A COM 579489105 11604 268300 SH SOLE 223400 0 44900
MCCORMICK & CO INC NON VOTING COM 579780206 130658 4391880 SH SOLE 4109170 0 282710
MILLER HERMAN INC COM 600544100 140072 6090090 SH SOLE 5697010 0 393080
NEWELL RUBBERMAID INC. COM 651229106 25245 870505 SH SOLE 723285 0 147220
PITNEY BOWES INC COM 724479100 16803 347800 SH SOLE 277685 0 70115
PRICE T ROWE & ASSOC INC COM 741477103 8811 238545 SH SOLE 175745 0 62800
ROUSE CO. COM 779273101 158778 7471890 SH SOLE 7027830 0 444060
SHOREWOOD PACKAGING CORP COM COM 825229107 100709 5682557 SH SOLE 5580982 0 101575
SPECIALTY EQUIP COS INC COM NE COM 847497203 129693 5417990 SH SOLE 5180260 0 237730
SUNGARD DATA SYS INC COM COM 867363103 3098 130435 SH SOLE 95035 0 35400
SYBRON CORP DEL COM COM 87114F106 45820 1856015 SH SOLE 1538270 0 317745
TRIBUNE CO COM COM 896047107 6003 109020 SH SOLE 79120 0 29900
WESLEY JESSEN VISIONCARE INCCO COM 951018100 83437 2202960 SH SOLE 2159410 0 43550
WHITMAN CORP NEW COM COM 96647R107 118638 8828850 SH SOLE 8202810 0 626040
XL CAPITAL LTD CL A COM G98255105 28004 539840 SH SOLE 449300 0 90540
LINE COUNT: 49
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