John W. Rogers Jr. - Ariel Appreciation Fund Portfolio (Q1 2026)

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Ariel Appreciation Fund, John W. Rogers Jr., has built a diversified portfolio of 104 publicly traded holdings with a total market value of $8.9B as of Mar 31, 2026. This comprehensive analysis examines the latest 13F filing data to understand the investment strategy and recent portfolio adjustments.

The portfolio demonstrates a diversified approach to stock selection, with the top holding representing 4.0% of the total portfolio value. The top 5 holdings account for 18.0% of the overall portfolio allocation.

Recent portfolio activity shows 10 significant position adjustments, indicating active portfolio management and strategic repositioning. These changes reflect the investor's response to market conditions and evolving investment thesis.

Portfolio Statistics

104
Total Holdings
$8.9B
Portfolio Value
Mar 31, 2026
Latest Filing
4.0%
Largest Position

Top Holdings Analysis

The portfolio's top holdings reveal the investor's core investment thesis and sector preferences. The largest position in MADISON SQUARE GARDEN ENTMT (MSGE) represents 4.0% of the total portfolio, valued at $359.7M.

Rank Symbol Company Value Portfolio % Change
1 MSGE MADISON SQUARE GARDEN ENTMT $359.7M 4.0% -11.3%
2 OSW ONESPAWORLD HOLDINGS LIMITED $354.2M 4.0% +10.1%
3 JLL JONES LANG LASALLE INC $311.7M 3.5% +14.7%
4 AMG AFFILIATED MANAGERS GROUP $294.4M 3.3% -10.0%
5 SPHR SPHERE ENTERTAINMENT CO $289.1M 3.2% -22.3%

For a complete analysis of all holdings and detailed portfolio breakdown by sector and market cap, visit our comprehensive holdings page.

Recent Portfolio Activity

Recent portfolio adjustments provide insights into the investor's evolving strategy and market outlook. The following table shows the top 10 most significant position changes from recent reporting periods (out of 195 total transactions), sorted by the magnitude of change.

For a complete history of all portfolio transactions and detailed activity analysis, visit our comprehensive activity page.

Symbol Company Quantity Change Date Action
AQN Algonquin Power & Utilities Cor +3,721,007 Mar 31, 2026 BUY
ADT ADT Inc. -2,083,248 Mar 31, 2026 SELL
LIND Lindblad Expeditions Holdings I -1,679,756 Mar 31, 2026 SELL
KMT Kennametal Inc. -1,508,626 Mar 31, 2026 SELL
OSW OneSpaWorld +1,421,104 Mar 31, 2026 BUY
AXTA Axalta -1,397,586 Mar 31, 2026 SELL
JHG Janus Henderson -1,169,327 Mar 31, 2026 SELL
XRAY DENTSPLY SIRONA Inc. +1,112,075 Mar 31, 2026 BUY
NVST Envista Holdings Corporation -1,106,952 Mar 31, 2026 SELL
MAT Mattel, Inc. +1,034,950 Mar 31, 2026 BUY

Investment Strategy Insights

Ariel Appreciation Fund's investment approach can be analyzed through several key metrics. The portfolio's concentration in top holdings suggests a diversified investment strategy, with significant positions in companies that align with the investor's long-term thesis.

The largest position in MADISON SQUARE GARDEN ENTMT (MSGE) demonstrates strong conviction in this particular investment opportunity. Recent activity shows a decrease of 11.3% in this position, indicating active portfolio management and strategic positioning.

Portfolio turnover can be assessed through recent activity patterns. The 10 most significant transactions shown here (out of 195 total transactions) suggest a highly active approach to portfolio management, with frequent strategic adjustments and position changes.

Additional Analysis

Complete Holdings

View all 104 holdings with detailed analysis

Trading Activity

Track all portfolio transactions and position changes

Performance Metrics

Analyze profit, winning trades, and investment returns

Sector Allocation

Analyze portfolio breakdown by sector and industry

Ariel Appreciation Fund's portfolio as of Mar 31, 2026 reflects a strategic approach to equity investing with 104 holdings valued at $8.9B. The concentrated position in MADISON SQUARE GARDEN ENTMT and other top holdings demonstrates the investor's confidence in specific investment themes and long-term value creation opportunities. Recent activity indicates ongoing portfolio optimization and strategic repositioning.

For the most current portfolio data and detailed analysis, refer to the latest SEC 13F filings and our comprehensive holdings and activity pages, which are updated regularly with the latest filing information.

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