John W. Rogers Jr. - Ariel Appreciation Fund 13F Activity & Position Changes (Q4 2020)

According to the SEC 13F filed on Feb 12, 2021, the Ariel Appreciation Fund portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2020. 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 2020, the filing reported:

New Buys - Alico, Inc., Astrazeneca PLC, iShares Russell Mid-cap Value E, NOV Inc., 180 Degree Capital Corp.

Increases - iShares MSCI ACWI ex U.S. ETF, AstroNova, Inc., Affiliated Managers Group, Inc., Credicorp, Brinks Company (The), and 50 more

Reductions - Acacia Research Corporation, AFLAC Incorporated, Adtalem Global Education Inc., Bio-Rad Laboratories, Inc., Bristol-Myers Squibb Company, and 41 more

Complete Exits - AXT Inc, Carnival Corporation, Generac Holdlings Inc., InterDigital, Inc.

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 2020	ACTG Acacia Research Corporation	Acacia Research Corporation	Sell	-1,470,611	-92.3%	$481.00	122,189
Q4 2020	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Buy	+52,597	+906.2%	$3.10K	58,401
Q4 2020	AFL AFLAC Incorporated	AFLAC Incorporated	Sell	-93,633	-6.0%	$65.17K	1,465,539
Q4 2020	ALCO Alico, Inc.	Alico, Inc.	Buy - Position Entry	+60,932	-	$1.89K	60,932
Q4 2020	ALOT AstroNova, Inc.	AstroNova, Inc.	Buy	+18,792	+6.2%	$3.42K	321,363
Q4 2020	AMG Affiliated Managers Group, Inc.	Affiliated Managers Group, Inc.	Buy	+42,033	+5.6%	$80.49K	791,454
Q4 2020	ATGE Adtalem Global Education Inc.	Adtalem Global Education Inc.	Sell	-523,866	-17.1%	$86.33K	2,542,875
Q4 2020	AXTI AXT Inc	AXT Inc	Sell - Position Exit	-31,398	-100.0%	$0.00	-
Q4 2020	AZN Astrazeneca PLC	Astrazeneca PLC	Buy - Position Entry	+26,405	-	$1.32K	26,405
Q4 2020	BAP Credicorp	Credicorp	Buy	+77,794	+44.4%	$41.52K	253,152
Q4 2020	BCO Brinks Company (The)	Brinks Company (The)	Buy	+356,956	+27.3%	$119.77K	1,663,475
Q4 2020	BIDU Baidu, Inc.	Baidu, Inc.	Buy	+81,700	+2.9%	$633.71K	2,930,586
Q4 2020	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Sell	-15,082	-23.4%	$28.75K	49,311
Q4 2020	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Buy	+27,553	+23.2%	$6.20K	146,128
Q4 2020	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-69,158	-21.3%	$15.80K	254,798
Q4 2020	BOKF BOK Financial Corporation	BOK Financial Corporation	Buy	+271,089	+12.4%	$168.60K	2,462,077
Q4 2020	BRC Brady Corporation	Brady Corporation	Buy	+154,581	+36.8%	$30.38K	575,094
Q4 2020	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-57,537	-8.1%	$151.45K	653,169
Q4 2020	BSAC Banco Santander - Chile	Banco Santander - Chile	Sell	-7,189	-0.8%	$15.98K	841,567
Q4 2020	BWA BorgWarner Inc.	BorgWarner Inc.	Sell	-119,801	-6.4%	$67.31K	1,741,960
Q4 2020	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Buy	+123,466	+17.5%	$44.33K	827,647
Q4 2020	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-185,195	-10.1%	$102.87K	1,640,207
Q4 2020	CCL Carnival Corporation	Carnival Corporation	Sell - Position Exit	-537,970	-100.0%	$0.00	-
Q4 2020	CHKP Check Point	Check Point	Buy	+76,380	+29.9%	$44.12K	331,912
Q4 2020	CNTY Century Casinos, Inc.	Century Casinos, Inc.	Buy	+31,700	+3.9%	$5.43K	849,759
Q4 2020	CPIX Cumberland Pharmaceuticals Inc.	Cumberland Pharmaceuticals Inc.	Buy	+38,655	+4.9%	$2.42K	821,096
Q4 2020	CRAI CRA International,Inc.	CRA International,Inc.	Buy	+16,575	+61.8%	$2.21K	43,391
Q4 2020	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Sell	-77,476	-15.8%	$103.16K	412,866
Q4 2020	CRWS Crown Crafts, Inc.	Crown Crafts, Inc.	Buy	+6,271	+16.6%	$317.00	44,048
Q4 2020	CSCO Cisco Systems, Inc.	Cisco Systems, Inc.	Sell	-8,359	-10.4%	$3.22K	71,918

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