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

As of Sep 30, 2023, the Ariel Appreciation Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 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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