John W. Rogers Jr. – Ariel Appreciation Fund Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Ariel Appreciation Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2025. 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 Q2 2025, the filing reported:

New Buys – First Solar, Inc. (FSLR), Barrick Gold (B), Walt Disney Company (The) (DIS)

Increases – Algonquin Power & Utilities Cor (AQN), Norwegian Cruise Line (NCLH), Leslie's, Inc. (LESL), Core Laboratories Inc. (CLB), OneSpaWorld (OSW), and 32 more

Reductions – Fair Isaac Corporation (FICO), Motorola Solutions, Inc. (MSI), Progressive Corporation (The) (PGR), Taiwan Semiconductor Manufactur (TSM), PHINIA Inc. (PHIN), and 56 more

Complete Exits – Vanguard Total International St (VXUS), AbbVie Inc. (ABBV), Philip Morris International Inc (PM), Barrick Gold Corporation (GOLD), CNH Industrial (CNH)

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Ariel Appreciation Fund Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q4 2021Dec 31, 2021	ORCL Oracle Corporation	Oracle Corporation	Buy	+3,236+3.3%	$8.87K	101,680
Q4 2021Dec 31, 2021	MIDD The Middleby Corporation	The Middleby Corporation	Buy	+3,187+2.0%	$32.72K	166,303
Q4 2021Dec 31, 2021	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Buy	+1,842+1.4%	$7.69K	132,376
Q4 2021Dec 31, 2021	NTRS Northern Trust Corporation	Northern Trust Corporation	Buy	+1,704+0.1%	$229.38K	1,917,698
Q4 2021Dec 31, 2021	AFL AFLAC Incorporated	AFLAC Incorporated	Buy	+1,542+0.1%	$89.86K	1,538,886
Q4 2021Dec 31, 2021	MTB M&T Bank Corporation	M&T Bank Corporation	Buy - Position Entry	+1,519	$233.00	1,519
Q4 2021Dec 31, 2021	LMT Lockheed Martin Corporation	Lockheed Martin Corporation	Buy	+325+1.4%	$8.13K	22,861
Q4 2021Dec 31, 2021	SNY Sanofi	Sanofi	Sell	-50-0.9%	$270.00	5,385
Q4 2021Dec 31, 2021	AZN Astrazeneca PLC	Astrazeneca PLC	Sell	-1,608-6.1%	$1.44K	24,739
Q4 2021Dec 31, 2021	ZBRA Zebra Technologies Corporation	Zebra Technologies Corporation	Sell	-1,813-2.1%	$50.03K	84,055
Q4 2021Dec 31, 2021	IWN iShares Russell 2000 Value ETF	iShares Russell 2000 Value ETF	Sell	-1,906-4.6%	$6.50K	39,149
Q4 2021Dec 31, 2021	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Sell	-3,276-0.3%	$55.35K	1,074,915
Q4 2021Dec 31, 2021	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Sell	-3,558-1.9%	$67.69K	179,647
Q4 2021Dec 31, 2021	JLL Jones Lang LaSalle Incorporated	Jones Lang LaSalle Incorporated	Sell	-3,560-0.3%	$302.46K	1,122,957
Q4 2021Dec 31, 2021	NVO Novo Nordisk A/S	Novo Nordisk A/S	Sell - Position Exit	-4,119-100.0%	$0.00	-
Q4 2021Dec 31, 2021	OMC Omnicom Group Inc.	Omnicom Group Inc.	Sell	-4,310-0.7%	$45.38K	619,294
Q4 2021Dec 31, 2021	NVS Novartis AG	Novartis AG	Sell	-7,905-42.6%	$930.00	10,631
Q4 2021Dec 31, 2021	BSAC Banco Santander - Chile	Banco Santander - Chile	Sell	-8,041-0.8%	$17.29K	1,061,642
Q4 2021Dec 31, 2021	GS Goldman Sachs Group, Inc. (The)	Goldman Sachs Group, Inc. (The)	Sell	-8,412-3.4%	$91.54K	239,295
Q4 2021Dec 31, 2021	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-15,648-1.0%	$177.03K	1,631,494
Q4 2021Dec 31, 2021	USB U.S. Bancorp	U.S. Bancorp	Sell	-16,030-7.5%	$11.04K	196,625
Q4 2021Dec 31, 2021	MOS Mosaic Company (The)	Mosaic Company (The)	Sell	-18,414-5.1%	$13.52K	344,211
Q4 2021Dec 31, 2021	VT Vanguard Total World Stock Inde	Vanguard Total World Stock Inde	Sell - Position Exit	-19,064-100.0%	$0.00	-
Q4 2021Dec 31, 2021	VEA Vanguard FTSE Developed Markets	Vanguard FTSE Developed Markets	Sell	-21,751-4.0%	$26.46K	518,295
Q4 2021Dec 31, 2021	EVR Evercore Inc.	Evercore Inc.	Sell	-22,346-9.3%	$29.49K	217,052
Q4 2021Dec 31, 2021	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-23,295-7.7%	$83.86K	280,464
Q4 2021Dec 31, 2021	KMX CarMax Inc	CarMax Inc	Sell	-29,823-9.4%	$37.55K	288,366
Q4 2021Dec 31, 2021	APA APA Corporation	APA Corporation	Sell	-30,377-5.7%	$13.60K	505,738
Q4 2021Dec 31, 2021	TPR Tapestry, Inc.	Tapestry, Inc.	Sell	-30,554-7.5%	$15.21K	374,547
Q4 2021Dec 31, 2021	KFY Korn Ferry	Korn Ferry	Sell	-35,352-4.4%	$57.84K	763,725

Page 54 of 176 • 5272 total trades

«‹

52 53 54 55 56

›»