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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2000
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
Form 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: Cheryl Cargie
Title: Vice President/Head Trader
Phone: 312-726-0140
Signature, Place, and Date of Signing:
/s/ Cheryl Cargie Chicago, IL 4/6/00
_____________________
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
28-_____________ _________________________________________
[Repeat as necessary.]
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FORM 13F
SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
-----------------------
Form 13F Information Table Entry Total: 49
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Form 13F Information Table Value Total: $ 3,377,036,000
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(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column
headings and list entries.]
No. Form 13F File Number Name
None
----- ------------------- ------------------------
[Repeat as necessary.]
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<TABLE>
<CAPTION>
VALUE SHARES/ SH/PUT/ INVSTMT
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
- ------------------------------ ---------------- --------- -------- ------- -------- -------
<S> <C> <C> <C> <C> <C> <C>
AVERY DENNISON CORP COM COM 53611109 14285 233940 SH SOLE
BOB EVANS FARMS COM 96761101 86399 6911900 SH SOLE
BRADY CORP COM 104674106 126348 4051235 SH SOLE
CARDINAL HEALTH INC COM COM 14149Y108 16469 358990 SH SOLE
CARNIVAL CRUISE LINE INC CL A COM 143658102 16760 675480 SH SOLE
CENTRAL NEWSPAPERS INC CL A COM 154647101 159606 4773269 SH SOLE
CENTURYTEL, INC COM 156700106 45972 1238300 SH SOLE
CLOROX CO COM 189054109 24895 754407 SH SOLE
DEPARTMENT 56 INC COM COM 249509100 45148 3047950 SH SOLE
EQUIFAX INC COM 294429105 43078 1706070 SH SOLE
FORTUNE BRANDS INC COM COM 349631101 8491 339645 SH SOLE
FRANKLIN RES INC COM COM 354613101 33523 1002565 SH SOLE
GALILEO INTL INC COM COM 363547100 17488 726770 SH SOLE
GALLAGHER ARTHUR J & CO COM COM 363576109 50583 1556395 SH SOLE
GENERAL BINDING CORP COM 369154109 27548 2880886 SH SOLE
GRACO INC COM COM 384109104 53677 1850925 SH SOLE
GREY ADVERTISING INC COM COM 397838103 72052 176166 SH SOLE
HARTE-HANKS COMM, INC. COM 416196103 19628 865135 SH SOLE
HASBRO BRADLEY INC COM 418056107 1683831 90362 SH SOLE
HCC INS HLDGS INC COM COM 404132102 66649 5030100 SH SOLE
HORACE MANN EDUCATORS CP NEWCO COM 440327104 84896 4604510 SH SOLE
HOUGHTON MIFFLIN CO COM 441560109 39619 933575 SH SOLE
HUNT CORP COM COM 445591100 14329 1603280 SH SOLE
HUSSMANN INTL INC COM COM 448110106 96527 7608036 SH SOLE
IDEX CORP COM COM 45167R104 89617 3288705 SH SOLE
INTERFACE , INC. CL A COM 458665106 35959 8461030 SH SOLE
INTERNATIONAL GAME TECH COM COM 459902102 170518 7862500 SH SOLE
LEE ENTERPRISES INC COM COM 523768109 164765 6306785 SH SOLE
LEGGETT & PLATT INC COM 524660107 117157 5449150 SH SOLE
LIBBEY INC COM COM 529898108 87272 3188025 SH SOLE
LITTLEFUSE INC COM COM 537008104 115183 3139565 SH SOLE
LONGS DRUG STORES INC COM 543162101 124069 5453570 SH SOLE
MBIA INC COM 55262C100 185871 3570145 SH SOLE
MBNA CORP COM COM 55262L100 35753 1402082 SH SOLE
MCCLATCHY CO CL A COM 579489105 11630 355110 SH SOLE
MCCORMICK & CO INC NON VOTING COM 579780206 146955 4556755 SH SOLE
MILLER HERMAN INC COM 600544100 177481 6338620 SH SOLE
NEWELL RUBBERMAID INC. COM 651229106 29728 1198115 SH SOLE
PITNEY BOWES INC COM 724479100 29769 666170 SH SOLE
PRICE T ROWE & ASSOC INC COM 741477103 16297 412570 SH SOLE
ROUSE CO. COM 779273101 155869 7378405 SH SOLE
SPECIALTY EQUIP COS INC COM NE COM 847497203 114568 5521340 SH SOLE
STUB--SHOREWOOD/CHESAPEAKE COM 999999999 7681 4096644 SH SOLE
SUNGARD DATA SYS INC COM COM 867363103 19718 522340 SH SOLE
SYBRON CORP DEL COM COM 87114F106 42912 1479735 SH SOLE
TRIBUNE CO COM COM 896047107 14074 384935 SH SOLE
WESLEY JESSEN VISIONCARE INCCO COM 951018100 39819 1108000 SH SOLE
WHITMAN CORP NEW COM COM 96647R107 80771 5795225 SH SOLE
XL CAPITAL LTD CL A COM G98255105 31247 564287 SH SOLE
<CAPTION>
OTHER ING AUTHO RITY
NAME OF ISSUER MANAGERS SHARED NONE
- ------------------------------ -------- --------- -----
<S> <C> <C> <C>
AVERY DENNISON CORP COM 193685 0 40255
BOB EVANS FARMS 6502920 0 408980
BRADY CORP 3892685 0 158550
CARDINAL HEALTH INC COM 294510 0 64480
CARNIVAL CRUISE LINE INC CL A 560410 0 115070
CENTRAL NEWSPAPERS INC CL A 4439214 0 334055
CENTURYTEL, INC 1028710 0 209590
CLOROX CO 624577 0 129830
DEPARTMENT 56 INC COM 2966000 0 81950
EQUIFAX INC 1415625 0 290445
FORTUNE BRANDS INC COM 280120 0 59525
FRANKLIN RES INC COM 819280 0 183285
GALILEO INTL INC COM 602700 0 124070
GALLAGHER ARTHUR J & CO COM 1403350 0 153045
GENERAL BINDING CORP 2766786 0 114100
GRACO INC COM 1776225 0 74700
GREY ADVERTISING INC COM 169231 0 6935
HARTE-HANKS COMM, INC. 698410 0 166725
HASBRO BRADLEY INC 9382882 0 707480
HCC INS HLDGS INC COM 4832950 0 197150
HORACE MANN EDUCATORS CP NEWCO 4426335 0 178175
HOUGHTON MIFFLIN CO 783350 0 150225
HUNT CORP COM 1570680 0 32600
HUSSMANN INTL INC COM 7151536 0 456500
IDEX CORP COM 3158405 0 130300
INTERFACE , INC. CL A 8131230 0 329800
INTERNATIONAL GAME TECH COM 7305115 0 557385
LEE ENTERPRISES INC COM 5848455 0 458330
LEGGETT & PLATT INC 5010115 0 439035
LIBBEY INC COM 3018350 0 169675
LITTLEFUSE INC COM 3070965 0 68600
LONGS DRUG STORES INC 5099080 0 354490
MBIA INC 3296650 0 273495
MBNA CORP COM 1158237 0 243845
MCCLATCHY CO CL A 283560 0 71550
MCCORMICK & CO INC NON VOTING 4199290 0 357465
MILLER HERMAN INC 5838935 0 499685
NEWELL RUBBERMAID INC. 994015 0 204100
PITNEY BOWES INC 549695 0 116475
PRICE T ROWE & ASSOC INC 341325 0 71245
ROUSE CO. 6812045 0 566360
SPECIALTY EQUIP COS INC COM NE 5185365 0 335975
STUB--SHOREWOOD/CHESAPEAKE 4003369 0 93275
SUNGARD DATA SYS INC COM 432000 0 90340
SYBRON CORP DEL COM 1223300 0 256435
TRIBUNE CO COM 318100 0 66835
WESLEY JESSEN VISIONCARE INCCO 1067350 0 40650
WHITMAN CORP NEW COM 5250220 0 545005
XL CAPITAL LTD CL A 469557 0 94730
LINE COUNT: 49
REPORT SUMMARY:
NUMBER OF OTHER INCLUDED MANAGERS: 0
FORM 13F INFORMATION TABLE ENTRY TOTAL: 49
FORM 13F INFORMATION TABLE VALUE TOTAL: $3,377,036,000
LIST OF OTHER INCLUDED MANAGERS:
NO. 13F FILE NUMBER NAME
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