John W. Rogers Jr. - Ariel Appreciation Fund 13F Activity & Position Changes (Q3 2023)

According to the SEC 13F filed on Nov 14, 2023, the Ariel Appreciation Fund portfolio showed several notable changes in holdings as of quarter-end Sep 30, 2023. 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 2023, the filing reported:

New Buys - Chevron Corporation, Fortrea Holdings Inc., Kenvue Inc., PHINIA Inc., Vanguard Total International St

Increases - iShares MSCI ACWI ex U.S. ETF, ADT Inc., Affiliated Managers Group, Inc., Bank of America Corporation, Brinks Company (The), and 39 more

Reductions - Ambev S.A., AFLAC Incorporated, Adtalem Global Education Inc., Axalta, Credicorp, and 54 more

Complete Exits - The Bank of New York Mellon Cor, New Oriental Education & Techno, iShares Russell Mid-cap Value E, Methode Electronics, Inc., Sanofi, 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
Q3 2023	ABEV Ambev S.A.	Ambev S.A.	Sell	-278,558	-20.3%	$2.82M	1,091,998
Q3 2023	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Buy	+39,278	+29.2%	$8.16M	173,673
Q3 2023	ADT ADT Inc.	ADT Inc.	Buy	+1,127,309	+5.3%	$134.58M	22,429,407
Q3 2023	AFL AFLAC Incorporated	AFLAC Incorporated	Sell	-6,224	-1.0%	$46.42M	604,796
Q3 2023	AMG Affiliated Managers Group, Inc.	Affiliated Managers Group, Inc.	Buy	+120,977	+11.3%	$154.86M	1,188,146
Q3 2023	ATGE Adtalem Global Education Inc.	Adtalem Global Education Inc.	Sell	-417,406	-11.5%	$137.37M	3,205,788
Q3 2023	AXTA Axalta	Axalta	Sell	-483,338	-8.6%	$138.34M	5,142,681
Q3 2023	BAC Bank of America Corporation	Bank of America Corporation	Buy	+11,237	+7.7%	$4.29M	156,608
Q3 2023	BAP Credicorp	Credicorp	Sell	-339,194	-23.8%	$139.10M	1,086,953
Q3 2023	BCO Brinks Company (The)	Brinks Company (The)	Buy	+15,311	+0.8%	$138.69M	1,909,223
Q3 2023	BIDU Baidu, Inc.	Baidu, Inc.	Sell	-609,902	-22.1%	$288.36M	2,146,326
Q3 2023	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Buy	+136	+3.1%	$1.62M	4,529
Q3 2023	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell - Position Exit	-78,663	-100.0%	$0.00	-
Q3 2023	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-108,249	-14.2%	$37.90M	652,959
Q3 2023	BOKF BOK Financial Corporation	BOK Financial Corporation	Sell	-94,345	-4.0%	$181.75M	2,272,419
Q3 2023	BRC Brady Corporation	Brady Corporation	Buy	+3,685	+1.3%	$15.80M	287,605
Q3 2023	BSAC Banco Santander - Chile	Banco Santander - Chile	Sell	-1,069,578	-78.8%	$5.27M	287,523
Q3 2023	BWA BorgWarner Inc.	BorgWarner Inc.	Sell	-61,176	-4.6%	$51.45M	1,274,443
Q3 2023	BYD Boyd Gaming Corporation	Boyd Gaming Corporation	Sell	-62,872	-2.0%	$185.53M	3,049,949
Q3 2023	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-28,590	-3.5%	$59.04M	799,373
Q3 2023	CG The Carlyle Group Inc.	The Carlyle Group Inc.	Buy	+918,114	+16.9%	$191.95M	6,364,528
Q3 2023	CHKP Check Point	Check Point	Buy	+593,623	+121.2%	$144.39M	1,083,364
Q3 2023	CLB Core Laboratories Inc.	Core Laboratories Inc.	Sell	-568,005	-5.9%	$217.62M	9,063,718
Q3 2023	CME CME Group Inc.	CME Group Inc.	Sell	-2,247	-14.5%	$2.66M	13,271
Q3 2023	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Buy	+18,760	+1.8%	$209.03M	1,066,600
Q3 2023	CVX Chevron Corporation	Chevron Corporation	Buy - Position Entry	+9,812	-	$1.65M	9,812
Q3 2023	DNB Dun & Bradstreet Holdings, Inc.	Dun & Bradstreet Holdings, Inc.	Buy	+908,481	+34.3%	$35.54M	3,557,872
Q3 2023	EDU New Oriental Education & Techno	New Oriental Education & Techno	Sell - Position Exit	-216,727	-100.0%	$0.00	-
Q3 2023	EQC Equity	Equity	Sell	-1,468,766	-21.1%	$100.97M	5,496,527
Q3 2023	EVR Evercore Inc.	Evercore Inc.	Buy	+3,479	+2.2%	$22.73M	164,835

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