John W. Rogers Jr. - Ariel Appreciation Fund 13F Activity & Position Changes (Q4 2014)

As of Dec 31, 2014, 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 Q4 2014, the filing reported:

New Buys - AXT Inc, CME Group Inc., iShares Russell 2000 Value ETF, LL Flooring Holdings, Inc., Vanguard S&P 500 ETF, and 1 more

Increases - Accenture plc, Acacia Research Corporation, AFLAC Incorporated, AstroNova, Inc., ANSYS, Inc., and 44 more

Reductions - Baxter International Inc., Brinks Company (The), Franklin Resources, Inc., Bio-Rad Laboratories, Inc., The Bank of New York Mellon Cor, and 36 more

Complete Exits - Autoliv, Inc., ARC Document Solutions, Inc., Toyota Motor Corporation

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
Q4 2014	ACN Accenture plc	Accenture plc	Buy	+18,822	+160.4%	$2.73K	30,553
Q4 2014	ACTG Acacia Research Corporation	Acacia Research Corporation	Buy	+389,060	+30.3%	$28.35K	1,673,475
Q4 2014	AFL AFLAC Incorporated	AFLAC Incorporated	Buy	+135,010	+9.0%	$100.16K	1,639,462
Q4 2014	ALOT AstroNova, Inc.	AstroNova, Inc.	Buy	+4,007	+0.3%	$19.27K	1,167,646
Q4 2014	ALV Autoliv, Inc.	Autoliv, Inc.	Sell - Position Exit	-8,285	-100.0%	$0.00	-
Q4 2014	ANSS ANSYS, Inc.	ANSYS, Inc.	Buy	+9,024	+29.0%	$3.30K	40,190
Q4 2014	ARC ARC Document Solutions, Inc.	ARC Document Solutions, Inc.	Sell - Position Exit	-1,677,376	-100.0%	$0.00	-
Q4 2014	AXP American Express Company	American Express Company	Buy	+1,590	+29.0%	$659.00	7,082
Q4 2014	AXTI AXT Inc	AXT Inc	Buy - Position Entry	+448,415	-	$1.26K	448,415
Q4 2014	AZTA Azenta, Inc.	Azenta, Inc.	Buy	+6,950	+2.6%	$3.55K	278,750
Q4 2014	BAX Baxter International Inc.	Baxter International Inc.	Sell	-100	-0.2%	$4.61K	62,951
Q4 2014	BCO Brinks Company (The)	Brinks Company (The)	Sell	-64,630	-6.0%	$24.89K	1,019,480
Q4 2014	BEN Franklin Resources, Inc.	Franklin Resources, Inc.	Sell	-8,799	-0.5%	$102.44K	1,850,175
Q4 2014	BIDU Baidu, Inc.	Baidu, Inc.	Buy	+60,512	+54.8%	$38.98K	170,968
Q4 2014	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Sell	-6,659	-0.6%	$127.86K	1,060,567
Q4 2014	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-200	-0.2%	$4.73K	116,515
Q4 2014	BRC Brady Corporation	Brady Corporation	Buy	+134,120	+3.1%	$122.01K	4,462,578
Q4 2014	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+14,952	+30.5%	$9.61K	63,968
Q4 2014	BSAC Banco Santander - Chile	Banco Santander - Chile	Buy	+619,817	+650.0%	$14.10K	715,175
Q4 2014	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+10,814	+45.7%	$3.72K	34,500
Q4 2014	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-163,040	-4.1%	$131.38K	3,835,896
Q4 2014	CME CME Group Inc.	CME Group Inc.	Buy - Position Entry	+21,672	-	$1.92K	21,672
Q4 2014	CNTY Century Casinos, Inc.	Century Casinos, Inc.	Buy	+499,753	+19.7%	$15.31K	3,031,885
Q4 2014	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-1,832	-35.1%	$480.00	3,389
Q4 2014	CPIX Cumberland Pharmaceuticals Inc.	Cumberland Pharmaceuticals Inc.	Sell	-521,825	-20.0%	$12.47K	2,085,426
Q4 2014	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Buy	+7,785	+0.4%	$127.54K	2,004,055
Q4 2014	CRWS Crown Crafts, Inc.	Crown Crafts, Inc.	Sell	-5,175	-0.4%	$10.05K	1,293,657
Q4 2014	CSWC Capital Southwest Corporation	Capital Southwest Corporation	Buy	+40,600	+47.5%	$4.78K	126,000
Q4 2014	CVS CVS Health Corporation	CVS Health Corporation	Sell	-1,600	-1.7%	$9.02K	93,675
Q4 2014	CVU CPI Aerostructures, Inc.	CPI Aerostructures, Inc.	Buy	+28,489	+1.8%	$16.05K	1,571,757

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