John W. Rogers Jr.: Portfolio Concentration Analysis of Ariel Appreciation Fund as of Dec 31, 2025

John W. Rogers Jr., through his Ariel Appreciation Fund, maintains a substantial portfolio with a total value of $9.22 billion as of December 31, 2025.

The fund's holdings demonstrate significant concentration, with the top ten positions accounting for a substantial portion of the total portfolio value. This analysis focuses on the largest individual holdings and notable changes in their allocations during the prior period.

The largest position, Madison Square Garden Entertainment (MSGE), represents approximately 4.01% of the total portfolio. The fund held 6,881,315 shares of this stock, valued at $370.8 million. Compared to the previous period, the fund reduced its position by 11.07% in terms of shares.

Affiliated Managers Group (AMG) is the second-largest holding, comprising about 3.68% of the portfolio. The fund owned 1,182,223 shares, worth $340.8 million. The position saw a reduction of 6.46% in shares during the prior period.

Norwegian Cruise Line Holdings (NCLH) holds the third position at 3.46% allocation. The fund's stake in this company, valued at $320.3 million with 14,351,367 shares, increased by 18.76% in shares during the prior period.

Other significant holdings include Sphere Entertainment (SPHR) at 3.25%, Jones Lang LaSalle (JLL) at 3.25%, OneSwan Holdings (OSW) at 3.14%, Charles River Laboratories (CRL) at 3.08%, Envista Holdings (NVST) at 2.81%, Lazard (LAZ) at 2.78%, and Prestige Consumer Healthcare (PBH) at 2.73%.

These top holdings, representing the highest percentage allocations within the Ariel Appreciation Fund, highlight the concentrated nature of John W. Rogers Jr.'s investment strategy. For more detailed information on John W. Rogers Jr. or any of these companies, please visit their respective profiles on Insiderset: John W. Rogers Jr. Investor Profile and MSGE, AMG, NCLH, SPHR, JLL, OSW, CRL, NVST, LAZ, PBH.