John W. Rogers Jr. - Ariel Appreciation Fund 13F Activity & Position Changes (Q1 2022)

According to the SEC 13F filed on May 13, 2022, the Ariel Appreciation Fund portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2022. 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 2022, the filing reported:

New Buys - Fiserv, Inc., Fair Isaac Corporation, iShares Russell Mid-cap Value E, ZimVie Inc.

Increases - Affiliated Managers Group, Inc., Adtalem Global Education Inc., Axalta, Brinks Company (The), Baidu, Inc., and 49 more

Reductions - iShares MSCI ACWI ex U.S. ETF, ADT Inc., AFLAC Incorporated, APA Corporation, Astrazeneca PLC, and 36 more

Complete Exits - TEGNA Inc

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 2022	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Sell	-6,651	-14.6%	$2.03K	38,851
Q1 2022	ADT ADT Inc.	ADT Inc.	Sell	-4,164,288	-17.0%	$154.44K	20,348,343
Q1 2022	AFL AFLAC Incorporated	AFLAC Incorporated	Sell	-271,571	-17.6%	$81.60K	1,267,315
Q1 2022	AMG Affiliated Managers Group, Inc.	Affiliated Managers Group, Inc.	Buy	+39,576	+4.4%	$132.10K	937,224
Q1 2022	APA APA Corporation	APA Corporation	Sell	-72,325	-14.3%	$17.91K	433,413
Q1 2022	ATGE Adtalem Global Education Inc.	Adtalem Global Education Inc.	Buy	+611,402	+12.2%	$167.60K	5,641,162
Q1 2022	AXTA Axalta	Axalta	Buy	+1,420,653	+23.8%	$181.86K	7,398,739
Q1 2022	AZN Astrazeneca PLC	Astrazeneca PLC	Sell	-796	-3.2%	$1.59K	23,943
Q1 2022	BAP Credicorp	Credicorp	Sell	-26,150	-1.7%	$258.87K	1,506,213
Q1 2022	BCO Brinks Company (The)	Brinks Company (The)	Buy	+19,661	+1.0%	$140.87K	2,071,566
Q1 2022	BIDU Baidu, Inc.	Baidu, Inc.	Buy	+221,092	+9.1%	$349.17K	2,639,193
Q1 2022	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Buy	+5,986	+10.7%	$34.77K	61,736
Q1 2022	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-2,315	-1.7%	$6.46K	130,061
Q1 2022	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Buy	+5,197	+0.7%	$58.12K	795,902
Q1 2022	BOKF BOK Financial Corporation	BOK Financial Corporation	Sell	-23,223	-0.7%	$308.48K	3,283,486
Q1 2022	BRC Brady Corporation	Brady Corporation	Sell	-14,606	-2.4%	$27.17K	587,194
Q1 2022	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-254,037	-90.6%	$9.33K	26,427
Q1 2022	BSAC Banco Santander - Chile	Banco Santander - Chile	Sell	-32,844	-3.1%	$23.24K	1,028,798
Q1 2022	BWA BorgWarner Inc.	BorgWarner Inc.	Buy	+41,849	+2.4%	$69.00K	1,773,700
Q1 2022	BYD Boyd Gaming Corporation	Boyd Gaming Corporation	Buy	+1,020,515	+63.4%	$172.97K	2,629,438
Q1 2022	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Sell	-118,166	-11.0%	$54.25K	956,749
Q1 2022	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-156,405	-9.6%	$135.00K	1,475,089
Q1 2022	CHKP Check Point	Check Point	Sell	-9,716	-2.0%	$66.00K	477,389
Q1 2022	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Buy	+30,148	+16.8%	$59.58K	209,795
Q1 2022	EQC Equity	Equity	Buy	+881,703	+43.6%	$81.96K	2,905,341
Q1 2022	EVR Evercore Inc.	Evercore Inc.	Sell	-4,045	-1.9%	$23.71K	213,007
Q1 2022	FAF First American Corporation (New	First American Corporation (New	Sell	-760,617	-15.6%	$265.88K	4,101,753
Q1 2022	FI Fiserv, Inc.	Fiserv, Inc.	Buy - Position Entry	+2,232	-	$226.00	2,232
Q1 2022	FICO Fair Isaac Corporation	Fair Isaac Corporation	Buy - Position Entry	+558	-	$260.00	558
Q1 2022	G02602103 Amdocs	Amdocs	Buy	+6,695	+0.8%	$70.26K	854,597

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