John W. Rogers Jr. - Ariel Appreciation Fund 13F Activity & Position Changes (Q2 2025)

As of Jun 30, 2025, the Ariel Appreciation Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2025. 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 2025, the filing reported:

New Buys - Barrick Gold, Walt Disney Company (The), First Solar, Inc.

Increases - APA Corporation, Aptiv, Algonquin Power & Utilities Cor, Bio-Rad Laboratories, Inc., Core Laboratories Inc., and 32 more

Reductions - ADT Inc., AFLAC Incorporated, Allstate Corporation (The), Affiliated Managers Group, Inc., Adtalem Global Education Inc., and 56 more

Complete Exits - AbbVie Inc., CNH Industrial, Barrick Gold Corporation, Philip Morris International Inc, Vanguard Total International St

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 2025	ABBV AbbVie Inc.	AbbVie Inc.	Sell - Position Exit	-84,394	-100.0%	$0.00	-
Q2 2025	ADT ADT Inc.	ADT Inc.	Sell	-3,812,697	-14.1%	$196.88M	23,244,598
Q2 2025	AFL AFLAC Incorporated	AFLAC Incorporated	Sell	-2,808	-1.3%	$22.84M	216,615
Q2 2025	ALL Allstate Corporation (The)	Allstate Corporation (The)	Sell	-58,607	-33.0%	$23.90M	118,737
Q2 2025	AMG Affiliated Managers Group, Inc.	Affiliated Managers Group, Inc.	Sell	-52,076	-3.7%	$266.64M	1,355,075
Q2 2025	APA APA Corporation	APA Corporation	Buy	+53,270	+21.6%	$5.48M	299,492
Q2 2025	APTV Aptiv	Aptiv	Buy	+617,115	+80.2%	$94.59M	1,386,513
Q2 2025	AQN Algonquin Power & Utilities Cor	Algonquin Power & Utilities Cor	Buy	+6,160,490	+88.6%	$75.14M	13,112,831
Q2 2025	ATGE Adtalem Global Education Inc.	Adtalem Global Education Inc.	Sell	-481,191	-25.9%	$175.03M	1,375,687
Q2 2025	AXTA Axalta	Axalta	Sell	-143,587	-3.5%	$118.22M	3,981,974
Q2 2025	B Barrick Gold	Barrick Gold	Buy - Position Entry	+244,597	-	$5.09M	244,597
Q2 2025	BAC Bank of America Corporation	Bank of America Corporation	Sell	-362,026	-43.1%	$22.61M	477,903
Q2 2025	BAP Credicorp	Credicorp	Sell	-33,403	-18.5%	$32.90M	147,208
Q2 2025	BCO Brinks Company (The)	Brinks Company (The)	Sell	-10,830	-0.8%	$123.53M	1,383,454
Q2 2025	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Buy	+93,964	+13.0%	$197.55M	818,624
Q2 2025	BOKF BOK Financial Corporation	BOK Financial Corporation	Sell	-18,523	-1.0%	$174.74M	1,789,772
Q2 2025	BRC Brady Corporation	Brady Corporation	Sell	-200	-5.2%	$248.77K	3,660
Q2 2025	BWA BorgWarner Inc.	BorgWarner Inc.	Sell	-621,015	-90.5%	$2.18M	64,987
Q2 2025	BYD Boyd Gaming Corporation	Boyd Gaming Corporation	Sell	-263,072	-8.5%	$221.76M	2,834,739
Q2 2025	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-55,013	-19.1%	$32.70M	233,336
Q2 2025	CG The Carlyle Group Inc.	The Carlyle Group Inc.	Sell	-133,669	-2.8%	$241.86M	4,705,544
Q2 2025	CHKP Check Point	Check Point	Sell	-183,674	-27.1%	$109.20M	493,547
Q2 2025	CLB Core Laboratories Inc.	Core Laboratories Inc.	Buy	+2,634,438	+25.5%	$149.49M	12,976,463
Q2 2025	CNH CNH Industrial	CNH Industrial	Sell - Position Exit	-2,187,205	-100.0%	$0.00	-
Q2 2025	CNP CenterPoint Energy, Inc (Holdin	CenterPoint Energy, Inc (Holdin	Sell	-770,495	-46.6%	$32.48M	884,095
Q2 2025	COF Capital One Financial Corporati	Capital One Financial Corporati	Sell	-102,806	-35.3%	$40.07M	188,311
Q2 2025	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Buy	+314,572	+28.6%	$214.75M	1,415,348
Q2 2025	CVS CVS Health Corporation	CVS Health Corporation	Buy	+144,541	+14.2%	$80.33M	1,164,574
Q2 2025	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Buy	+7,022	+5.1%	$18.65M	144,643
Q2 2025	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy - Position Entry	+172,170	-	$21.35M	172,170

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