John W. Rogers Jr. - Ariel Appreciation Fund 13F Activity & Position Changes (Q1 2021)

According to the SEC 13F filed on May 14, 2021, the Ariel Appreciation Fund portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2021. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2021, the filing reported:

New Buys - APA Corporation, Axalta, nVent Electric, Sanofi, SuRo Capital Corp., and 3 more

Increases - AFLAC Incorporated, Affiliated Managers Group, Inc., Adtalem Global Education Inc., Astrazeneca PLC, Credicorp, and 45 more

Reductions - iShares MSCI ACWI ex U.S. ETF, Alico, Inc., AstroNova, Inc., Baidu, Inc., The Bank of New York Mellon Cor, and 51 more

Complete Exits - Acacia Research Corporation, Foot Locker, Inc., Intercontinental Exchange Inc., iShares Russell Mid-cap Value E, Nordstrom, Inc., and 1 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2021	ACTG Acacia Research Corporation	Acacia Research Corporation	Sell - Position Exit	-122,189	-100.0%	$0.00	-
Q1 2021	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Sell	-12,899	-22.1%	$2.51K	45,502
Q1 2021	AFL AFLAC Incorporated	AFLAC Incorporated	Buy	+75,100	+5.1%	$78.85K	1,540,639
Q1 2021	ALCO Alico, Inc.	Alico, Inc.	Sell	-30,364	-49.8%	$913.00	30,568
Q1 2021	ALOT AstroNova, Inc.	AstroNova, Inc.	Sell	-242,043	-75.3%	$1.06K	79,320
Q1 2021	AMG Affiliated Managers Group, Inc.	Affiliated Managers Group, Inc.	Buy	+34,149	+4.3%	$123.04K	825,603
Q1 2021	APA APA Corporation	APA Corporation	Buy - Position Entry	+428,684	-	$7.67K	428,684
Q1 2021	ATGE Adtalem Global Education Inc.	Adtalem Global Education Inc.	Buy	+551,721	+21.7%	$122.36K	3,094,596
Q1 2021	AXTA Axalta	Axalta	Buy - Position Entry	+4,796,899	-	$141.89K	4,796,899
Q1 2021	AZN Astrazeneca PLC	Astrazeneca PLC	Buy	+385	+1.5%	$1.33K	26,790
Q1 2021	BAP Credicorp	Credicorp	Buy	+122,431	+48.4%	$51.29K	375,583
Q1 2021	BCO Brinks Company (The)	Brinks Company (The)	Buy	+35,963	+2.2%	$134.65K	1,699,438
Q1 2021	BIDU Baidu, Inc.	Baidu, Inc.	Sell	-487,445	-16.6%	$531.50K	2,443,141
Q1 2021	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Buy	+1,990	+4.0%	$29.30K	51,301
Q1 2021	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-3,300	-2.3%	$6.75K	142,828
Q1 2021	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Buy	+445,836	+175.0%	$44.23K	700,634
Q1 2021	BOKF BOK Financial Corporation	BOK Financial Corporation	Buy	+527,187	+21.4%	$267.00K	2,989,264
Q1 2021	BRC Brady Corporation	Brady Corporation	Sell	-500	-0.1%	$30.71K	574,594
Q1 2021	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-182,252	-27.9%	$120.31K	470,917
Q1 2021	BSAC Banco Santander - Chile	Banco Santander - Chile	Buy	+448,937	+53.3%	$32.04K	1,290,504
Q1 2021	BWA BorgWarner Inc.	BorgWarner Inc.	Sell	-153,527	-8.8%	$73.64K	1,588,433
Q1 2021	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Buy	+189,899	+22.9%	$61.82K	1,017,546
Q1 2021	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-19,268	-1.2%	$128.23K	1,620,939
Q1 2021	CHKP Check Point	Check Point	Buy	+157,182	+47.4%	$54.76K	489,094
Q1 2021	CNTY Century Casinos, Inc.	Century Casinos, Inc.	Sell	-706,356	-83.1%	$1.47K	143,403
Q1 2021	CPIX Cumberland Pharmaceuticals Inc.	Cumberland Pharmaceuticals Inc.	Sell	-608,726	-74.1%	$643.00	212,370
Q1 2021	CRAI CRA International,Inc.	CRA International,Inc.	Sell	-32,341	-74.5%	$825.00	11,050
Q1 2021	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Sell	-1,793	-0.4%	$119.14K	411,073
Q1 2021	CRWS Crown Crafts, Inc.	Crown Crafts, Inc.	Sell	-1,000	-2.3%	$333.00	43,048
Q1 2021	CSCO Cisco Systems, Inc.	Cisco Systems, Inc.	Sell	-1,810	-2.5%	$3.62K	70,108

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