John W. Rogers Jr. - Ariel Appreciation Fund 13F Activity & Position Changes (Q3 2017)

As of Sep 30, 2017, 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 Q3 2017, the filing reported:

New Buys - Fastenal Company, iShares Russell Mid-Cap ETF, Tejon Ranch Co

Increases - Accenture plc, AstroNova, Inc., Aspen Aerogels, Inc., American Express Company, Acuity Brands, Inc., and 53 more

Reductions - Acacia Research Corporation, AFLAC Incorporated, Adtalem Global Education Inc., AXT Inc, Brinks Company (The), and 46 more

Complete Exits - Church & Dwight Company, Inc., Digi International Inc., Itau Unibanco Banco Holding SA, LL Flooring Holdings, Inc., LG Display Co, Ltd AMERICAN DEP, and 3 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
Q3 2017	ACN Accenture plc	Accenture plc	Buy	+1,415	+4.4%	$4.57K	33,794
Q3 2017	ACTG Acacia Research Corporation	Acacia Research Corporation	Sell	-461,643	-13.5%	$13.43K	2,952,115
Q3 2017	AFL AFLAC Incorporated	AFLAC Incorporated	Sell	-7,210	-0.5%	$128.64K	1,580,593
Q3 2017	ALOT AstroNova, Inc.	AstroNova, Inc.	Buy	+240,065	+47.2%	$9.73K	748,142
Q3 2017	ASPN Aspen Aerogels, Inc.	Aspen Aerogels, Inc.	Buy	+1,520	+0.1%	$4.76K	1,095,517
Q3 2017	ATGE Adtalem Global Education Inc.	Adtalem Global Education Inc.	Sell	-39,644	-1.9%	$72.58K	2,024,619
Q3 2017	AXP American Express Company	American Express Company	Buy	+33,363	+3.9%	$80.84K	893,621
Q3 2017	AXTI AXT Inc	AXT Inc	Sell	-251,805	-39.2%	$3.57K	390,513
Q3 2017	AYI Acuity Brands, Inc.	Acuity Brands, Inc.	Buy	+294	+3.5%	$1.50K	8,780
Q3 2017	BCO Brinks Company (The)	Brinks Company (The)	Sell	-123,081	-28.5%	$26.02K	308,801
Q3 2017	BEN Franklin Resources, Inc.	Franklin Resources, Inc.	Sell	-350,121	-54.2%	$13.17K	295,853
Q3 2017	BIDU Baidu, Inc.	Baidu, Inc.	Sell	-106,709	-8.9%	$270.42K	1,091,778
Q3 2017	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Sell	-49,993	-8.7%	$116.50K	524,244
Q3 2017	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-9,588	-8.5%	$5.47K	103,249
Q3 2017	BOKF BOK Financial Corporation	BOK Financial Corporation	Buy	+4,029	+0.8%	$43.12K	484,109
Q3 2017	BRC Brady Corporation	Brady Corporation	Buy	+5,355	+0.2%	$89.94K	2,369,820
Q3 2017	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+21,815	+4.1%	$100.58K	548,655
Q3 2017	BSAC Banco Santander - Chile	Banco Santander - Chile	Sell	-109,043	-12.2%	$23.36K	786,160
Q3 2017	BWA BorgWarner Inc.	BorgWarner Inc.	Sell	-6,482	-0.4%	$88.17K	1,721,109
Q3 2017	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Buy	+74,212	+11.2%	$49.23K	735,687
Q3 2017	CARS Cars.com Inc.	Cars.com Inc.	Sell	-59,627	-17.6%	$7.45K	280,059
Q3 2017	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-582,385	-16.9%	$108.80K	2,872,129
Q3 2017	CHD Church & Dwight Company, Inc.	Church & Dwight Company, Inc.	Sell - Position Exit	-28,683	-100.0%	$0.00	-
Q3 2017	CME CME Group Inc.	CME Group Inc.	Buy	+3,161	+4.2%	$10.67K	78,646
Q3 2017	CNTY Century Casinos, Inc.	Century Casinos, Inc.	Buy	+124,972	+3.9%	$27.60K	3,361,757
Q3 2017	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Buy	+9,034	+4.1%	$37.56K	228,597
Q3 2017	CPIX Cumberland Pharmaceuticals Inc.	Cumberland Pharmaceuticals Inc.	Sell	-89,233	-9.1%	$6.26K	887,144
Q3 2017	CRAI CRA International,Inc.	CRA International,Inc.	Sell	-26,300	-14.7%	$6.28K	152,998
Q3 2017	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Sell	-270,301	-13.9%	$181.48K	1,680,066
Q3 2017	CSWC Capital Southwest Corporation	Capital Southwest Corporation	Buy	+12,058	+1.3%	$16.51K	963,726

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