<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 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:
-----------------------
Form 13F Information Table Entry Total:
-----------------------
Form 13F Information Table Value Total: $
-----------------------
(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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ARIEL CAPITAL MANAGEMENT
DISCRETIONARY OWNERSHIP FOR 13F
AS OF DATE: 06/30/00
<TABLE>
<CAPTION>
(ITEM 1) (ITEM 2)(ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT VOTING AUTHORITY
DISCRETION (SHARES)
------------------- ---------- ----------------
NAME TITLE FAIR SHARES OR SHARED
OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE
ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C)
---------------------- ------ --------- ----------- ------------ ----- ----- ------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AVERY DENNISON CORP C COMMON 53611109 17,511,234 260,875 X X 213,995 0 46,880
BLOCK H & R INC COM COMMON 93671105 17,407,552 537,685 X X 442,395 0 95,290
BOB EVANS FARMS COMMON 96761101 110,115,590 7,371,755 X X 6,881,95 0 489,800
BRADY CORP COMMON 104674106 137,537,075 4,231,910 X 4,035,63 0 196,275
CARDINAL HEALTH INC C COMMON 14149Y108 27,383,700 370,050 X X 303,180 0 66,870
CARNIVAL CRUISE LINE COMMON 143658102 18,297,045 938,310 X X 767,210 0 171,100
CENTRAL NEWSPAPERS IN COMMON 154647101 237,724,429 3,758,489 X X 3,430,73 0 327,750
CENTURYTEL, INC COMMON 156700106 40,426,238 1,406,130 X X 1,156,91 0 249,215
CLOROX CO COMMON 189054109 36,800,321 821,207 X X 675,027 0 146,180
DEPARTMENT 56 INC COM COMMON 249509100 33,429,000 3,039,000 X 2,955,60 0 83,400
EQUIFAX INC COMMON 294429105 45,819,375 1,745,500 X X 1,441,44 0 304,060
FORTUNE BRANDS INC CO COMMON 349631101 17,135,092 742,985 X X 612,215 0 130,770
FRANKLIN RES INC COM COMMON 354613101 30,803,439 1,014,105 X X 830,650 0 183,455
GALILEO INTL INC COM COMMON 363547100 15,614,604 748,005 X X 617,750 0 130,255
GALLAGHER ARTHUR J & COMMON 363576109 57,571,920 1,370,760 X X 1,263,52 0 107,235
GENERAL BINDING CORP COMMON 369154109 20,721,125 3,098,486 X 2,946,28 0 152,200
GRACO INC COM COMMON 384109104 96,980,650 2,984,020 X 2,841,19 0 142,825
GREY ADVERTISING INC COMMON 397838103 100,958,520 194,151 X 184,976 0 9,175
HARTE-HANKS COMM, INC COMMON 416196103 22,245,875 889,835 X X 716,965 0 172,870
HASBRO BRADLEY INC COMMON 418056107 162,356,752 10,778,872 X X 9,921,51 0 857,360
HCC INS HLDGS INC COM COMMON 404132102 96,870,841 5,132,230 X 4,893,08 0 239,150
HORACE MANN EDUCATORS COMMON 440327104 78,449,850 5,229,990 X 4,979,61 0 250,375
HOUGHTON MIFFLIN CO COMMON 441560109 47,571,995 1,018,945 X X 838,370 0 180,575
HUNT CORP COM COMMON 445591100 16,589,417 1,598,980 X 1,566,38 0 32,600
IDEX CORP COM COMMON 45167R104 109,835,606 3,479,940 X 3,313,84 0 166,100
INTERFACE , INC. CL A COMMON 458665106 33,172,124 8,700,885 X 8,282,08 0 418,800
INTERNATIONAL GAME TE COMMON 459902102 183,055,375 6,907,750 X X 6,381,32 0 526,425
LEE ENTERPRISES INC C COMMON 523768109 168,267,527 7,217,910 X X 6,657,62 0 560,285
LEGGETT & PLATT INC COMMON 524660107 125,499,742 7,606,045 X X 6,993,30 0 612,740
LIBBEY INC COM COMMON 529898108 102,200,708 3,181,345 X 2,979,17 0 202,175
LITTELFUSE INC COM COMMON 537008104 132,201,510 2,697,990 X 2,584,49 0 113,500
LONGS DRUG STORES INC COMMON 543162101 123,090,319 5,659,325 X X 5,286,07 0 373,250
MATTHEWS INTL CORP CL COMMON 577128101 9,561,010 329,690 X 315,490 0 14,200
MBIA INC COMMON 55262C100 178,886,456 3,712,300 X X 3,398,60 0 313,700
MBNA CORP COM COMMON 55262L100 38,684,102 1,426,142 X X 1,171,37 0 254,770
MCCLATCHY CO CL A COMMON 579489105 17,732,475 535,320 X X 440,895 0 94,425
MCCORMICK & CO INC NO COMMON 579780206 166,825,750 5,133,100 X X 4,705,52 0 427,580
MILLER HERMAN INC COMMON 600544100 167,676,857 6,480,265 X X 5,911,79 0 568,475
NEWELL RUBBERMAID INC COMMON 651229106 32,881,720 1,276,960 X X 1,049,33 0 227,630
PITNEY BOWES INC COMMON 724479100 31,371,400 784,285 X X 645,935 0 138,350
PRICE T ROWE & ASSOC COMMON 741477103 18,155,150 427,180 X X 351,755 0 75,425
ROUSE CO. COMMON 779273101 190,226,396 7,685,915 X X 7,040,20 0 645,715
RPM INC OHIO COMMON 749685103 7,322,400 723,200 X 664,300 0 58,900
SERVICEMASTER CO COM COMMON 81760N109 65,150,768 5,727,540 X 5,474,340 0 253,200
SPECIALTY EQUIP COS I COMMON 847497203 152,369,127 5,617,295 X X 5,268,870 0 348,425
</TABLE>
<PAGE> 4
ARIEL CAPITAL MANAGEMENT
DISCRETIONARY OWNERSHIP FOR 13F
AS OF DATE: 06/30/00
<TABLE>
<CAPTION>
(ITEM 1) (ITEM 2)(ITEM 3) (ITEM 4) (ITEM 5) (ITEM 6) (ITEM 7) (ITEM 8)
INVESTMENT VOTING AUTHORITY
DISCRETION (SHARES)
------------------- ---------- ----------------
NAME TITLE FAIR SHARES OR SHARED
OF OF CUSIP MARKET PRINCIPAL SOLE SHARED OTHER SOLE SHARED NONE
ISSUER CLASS NUMBER VALUE AMOUNT (A) (B) (C) MGR (A) (B) (C)
---------------------- ------ --------- ----------- ------------ ----- ----- ------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SUNGARD DATA SYS INC COMMON 867363103 20,028,325 646,075 X X 532,685 0 113,390
SYBRON CORP DEL COM COMMON 87114F106 31,564,780 1,593,175 X X 1,318,37 0 274,805
TRIBUNE CO COM COMMON 896047107 19,740,000 564,000 X X 463,635 0 100,365
URBAN SHOPPING CTRS I COMMON 917060105 28,354,600 841,695 X 800,795 0 40,900
WHITMAN CORP NEW COM COMMON 96647R107 45,283,814 3,715,595 X X 3,203,85 0 511,740
XL CAPITAL LTD CL A COMMON G98255105 31,346,061 579,142 X X 479,767 0 99,375
</TABLE>
TOTAL 3,716,805,742
