Ariel Investments, LLC reports owning 2,943,963 shares of Leslie's Inc common stock, representing 31.7% of the class after a reverse split that changed the class CUSIP to 527064208. The filing shows Ariel has sole voting power over 2,863,578 shares and sole dispositive power over 2,943,963 shares. The statement notes that Ariel Fund, a series of Ariel Investment Trust, holds 2,240,815 shares, an economic interest above 5%. The amendment reflects the reverse split effective September 29, 2025 and updates ownership counts and the CUSIP.
Positive
None.
Negative
None.
Insights
A large, concentrated stake retained post-reverse-split; ownership is material to shareholders.
The reporting entity holds 2,943,963 shares, equal to 31.7% of the outstanding class, which is a substantial ownership position that can affect voting outcomes on corporate matters.
This position depends on share counts after the reverse split and on whether the holder's economic interest (including the Ariel Fund's 2,240,815 shares) remains stable; monitor any future Schedule 13D/G updates for changes in percentage or voting arrangements within the next quarters.
The amendment is procedural and clarifies holdings after a corporate reverse split and CUSIP change.
The filing explicitly states the amendment’s purpose is to reflect the reverse split effective September 29, 2025, which altered the CUSIP and the reported share totals; signatures certify ordinary-course holdings and no intent to influence control is declared.
Regulatory watchers should note the certification language and the continued reporting under Rule 13d-1; further disclosures would be required if the purpose or ownership percentage changes in a material way.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 7)
Leslie's Inc
(Name of Issuer)
Common Stock SH NEW
(Title of Class of Securities)
527064208
(CUSIP Number)
09/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
527064208
1
Names of Reporting Persons
Ariel Investments, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,863,578.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,943,963.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,943,963.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
31.7 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: The purpose of this 13G Amendment No. 7 is to reflect the effects of a reverse split of the Issuer's Common Stock effective on Monday, September 29, 2025, resulting in a change to the CUSIP No. for the class of securities of the Issuer and to the total shares beneficially owned by the Reporting Persons.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Leslie's Inc
(b)
Address of issuer's principal executive offices:
2005 E. INDIAN SCHOOL ROAD, PHOENIX, AZ, 85016, US
Item 2.
(a)
Name of person filing:
Ariel Investments, LLC
(b)
Address or principal business office or, if none, residence:
200 E. Randolph Street, Suite 2900, Chicago, 60601, United States
(c)
Citizenship:
DELAWARE LIMITED LIABILITY COMPANY
(d)
Title of class of securities:
Common Stock SH NEW
(e)
CUSIP No.:
527064208
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
2,943,963
(b)
Percent of class:
31.7 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
2,863,578
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
2,943,963
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Ariel Investments, LLC's adviser clients have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, all securities reported upon this Schedule. Ariel Fund, a series of Ariel Investment Trust, an open-end management investment company, owns 2,240,815 shares of the Issuer which represents an economic interest in more than 5% of the subject securities reported upon this Schedule.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. The purpose of this 13G Amendment No. 7 is to reflect the effects of a reverse split of the Issuer's Common Stock effective on Monday, September 29, 2025, resulting in a change to the CUSIP No. for the class of securities of the Issuer and to the total shares beneficially owned by the Reporting Persons.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
How many Leslie's Inc (LESL) shares does Ariel Investments report owning?
Ariel Investments reports beneficial ownership of 2,943,963 shares, representing 31.7% of the class.
What voting power does Ariel Investments have in LESL?
The filing states Ariel has sole voting power over 2,863,578 shares and sole dispositive power over 2,943,963 shares.
Why was this Schedule 13G amended for LESL?
The amendment reflects a corporate reverse split effective September 29, 2025, which changed the CUSIP to 527064208 and adjusted reported share totals.
Does Ariel manage shares on behalf of other clients in LESL?
Yes; Ariel’s adviser clients have rights to dividends or sale proceeds. Specifically, Ariel Fund owns 2,240,815 shares, an economic interest above 5%.
Did Ariel state an intent to influence control of Leslie's (LESL)?
The certification declares the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.
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