John W. Rogers Jr. - Ariel Appreciation Fund 13F Activity & Position Changes (Q2 2018)

As of Jun 30, 2018, the Ariel Appreciation Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 14, 2026. 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 Q2 2018, the filing reported:

New Buys - Crown Crafts, Inc., Lakeland Industries, Inc.

Increases - Aspen Aerogels, Inc., AXT Inc, Acuity Brands, Inc., Brinks Company (The), Baidu, Inc., and 45 more

Reductions - iShares MSCI ACWI ex U.S. ETF, AFLAC Incorporated, AstroNova, Inc., Adtalem Global Education Inc., American Express Company, and 46 more

Complete Exits - CRA International,Inc., IDEX Corporation, Mastercard Incorporated, TripAdvisor, Inc., T. Rowe Price Group, 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
Q2 2018	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Sell	-11,397	-4.7%	$10.94K	231,557
Q2 2018	AFL AFLAC Incorporated	AFLAC Incorporated	Sell	-26,438	-1.2%	$96.34K	2,239,458
Q2 2018	ALOT AstroNova, Inc.	AstroNova, Inc.	Sell	-60,154	-10.1%	$10.14K	538,207
Q2 2018	ASPN Aspen Aerogels, Inc.	Aspen Aerogels, Inc.	Buy	+454,933	+37.8%	$8.12K	1,657,889
Q2 2018	ATGE Adtalem Global Education Inc.	Adtalem Global Education Inc.	Sell	-155,852	-8.5%	$80.68K	1,677,418
Q2 2018	AXP American Express Company	American Express Company	Sell	-3,258	-0.4%	$86.33K	880,912
Q2 2018	AXTI AXT Inc	AXT Inc	Buy	+20,018	+7.6%	$2.00K	283,741
Q2 2018	AYI Acuity Brands, Inc.	Acuity Brands, Inc.	Buy	+400	+1.3%	$3.60K	31,063
Q2 2018	BCO Brinks Company (The)	Brinks Company (The)	Buy	+43,326	+15.9%	$25.22K	316,237
Q2 2018	BIDU Baidu, Inc.	Baidu, Inc.	Buy	+56,882	+5.0%	$287.73K	1,184,062
Q2 2018	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Sell	-19,153	-7.6%	$66.93K	231,976
Q2 2018	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-36	-0.0%	$5.56K	103,130
Q2 2018	BOKF BOK Financial Corporation	BOK Financial Corporation	Sell	-3,159	-0.6%	$48.04K	511,018
Q2 2018	BRC Brady Corporation	Brady Corporation	Sell	-406,884	-17.9%	$71.95K	1,866,529
Q2 2018	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+7,498	+1.4%	$102.98K	551,717
Q2 2018	BSAC Banco Santander - Chile	Banco Santander - Chile	Buy	+114,751	+15.3%	$27.14K	863,364
Q2 2018	BWA BorgWarner Inc.	BorgWarner Inc.	Sell	-17,820	-1.0%	$73.23K	1,696,836
Q2 2018	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Buy	+79,479	+9.3%	$45.43K	930,324
Q2 2018	CARS Cars.com Inc.	Cars.com Inc.	Buy	+1,075	+0.4%	$7.18K	252,759
Q2 2018	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-280,175	-12.9%	$90.26K	1,890,673
Q2 2018	CNTY Century Casinos, Inc.	Century Casinos, Inc.	Buy	+582,036	+19.2%	$31.58K	3,609,149
Q2 2018	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Buy	+3,157	+1.4%	$48.06K	229,982
Q2 2018	CPIX Cumberland Pharmaceuticals Inc.	Cumberland Pharmaceuticals Inc.	Buy	+291,126	+28.7%	$8.00K	1,305,052
Q2 2018	CRAI CRA International,Inc.	CRA International,Inc.	Sell - Position Exit	-109,748	-100.0%	$0.00	-
Q2 2018	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Sell	-43,691	-3.2%	$147.91K	1,317,586
Q2 2018	CRWS Crown Crafts, Inc.	Crown Crafts, Inc.	Buy - Position Entry	+157,616	-	$898.00	157,616
Q2 2018	CSWC Capital Southwest Corporation	Capital Southwest Corporation	Buy	+47,792	+4.8%	$18.83K	1,039,515
Q2 2018	CVU CPI Aerostructures, Inc.	CPI Aerostructures, Inc.	Buy	+79,454	+11.4%	$8.15K	776,157
Q2 2018	DFS Discover Financial Services	Discover Financial Services	Buy	+2,507	+1.3%	$13.56K	192,579
Q2 2018	DGX Quest Diagnostics Incorporated	Quest Diagnostics Incorporated	Buy	+3,157	+1.3%	$26.78K	243,599

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