This study examines the extent to which ARL academic libraries collect graphic novels. Using a core list of 176 titles developed from winners of major comics industry awards and a library-focused "best of" list, the holdings of 111 ARL academic libraries were searched using the libraries' online catalogs. Results suggest that most of the libraries studied do not aggressively collect graphic novels. Also examined were associations between date of publication, prior serialization, overall collection size, monograph budget, and ARL ranking and graphic novel holdings. To better serve scholarly research in this area of increasing interest, libraries will need to reexamine their collecting policies.