John W. Rogers Jr. - Ariel Appreciation Fund Portfolio

Name: Investment Portfolio Data
License: https://creativecommons.org/licenses/by/4.0/

Period Date		Mar 31, 2025
Filing Date		May 15, 2025
Total Stocks		106
Portfolio Value		$8.51B

Ariel Appreciation Fund Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q4 2022Dec 31, 2022	KMX CarMax Inc	CarMax Inc	Buy	+364,008+75.3%	$51.60M	847,509
Q4 2022Dec 31, 2022	BIDU Baidu, Inc.	Baidu, Inc.	Buy	+251,451+9.7%	$326.31M	2,852,898
Q4 2022Dec 31, 2022	MAT Mattel, Inc.	Mattel, Inc.	Buy	+141,329+0.9%	$283.72M	15,903,612
Q4 2022Dec 31, 2022	TAP Molson Coors Beverage Company	Molson Coors Beverage Company	Buy	+133,774+40.5%	$23.92M	464,379
Q4 2022Dec 31, 2022	SWK Stanley Black & Decker, Inc.	Stanley Black & Decker, Inc.	Buy	+88,866+16.3%	$47.58M	633,366
Q4 2022Dec 31, 2022	NTAP NetApp, Inc.	NetApp, Inc.	Buy	+42,658+6.1%	$44.60M	742,622
Q4 2022Dec 31, 2022	VEA Vanguard FTSE Developed Markets	Vanguard FTSE Developed Markets	Buy	+36,918+7.7%	$21.55M	513,478
Q4 2022Dec 31, 2022	BAC Bank of America Corporation	Bank of America Corporation	Buy	+36,395+61.0%	$3.18M	96,039
Q4 2022Dec 31, 2022	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Buy	+33,458+34.2%	$5.98M	131,423
Q4 2022Dec 31, 2022	ZBRA Zebra Technologies Corporation	Zebra Technologies Corporation	Buy	+18,508+3.9%	$127.08M	495,626
Q4 2022Dec 31, 2022	GSK GSK plc	GSK plc	Buy	+15,727+9.3%	$6.51M	185,288
Q4 2022Dec 31, 2022	MSGS Madison Square Garden Sports Co	Madison Square Garden Sports Co	Buy	+9,406+0.9%	$196.47M	1,071,674
Q4 2022Dec 31, 2022	IWN iShares Russell 2000 Value ETF	iShares Russell 2000 Value ETF	Buy	+8,588+46.7%	$3.74M	26,965
Q4 2022Dec 31, 2022	IWS iShares Russell Mid-cap Value E	iShares Russell Mid-cap Value E	Buy - Position Entry	+8,451	$890.23K	8,451
Q4 2022Dec 31, 2022	MIDD The Middleby Corporation	The Middleby Corporation	Buy	+6,036+2.1%	$38.40M	286,789
Q4 2022Dec 31, 2022	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Buy	+3,306+0.2%	$200.65M	1,962,904
Q4 2022Dec 31, 2022	DNB Dun & Bradstreet Holdings, Inc.	Dun & Bradstreet Holdings, Inc.	Buy	+960+8.4%	$151.83K	12,384
Q4 2022Dec 31, 2022	PDCO Patterson Companies, Inc.	Patterson Companies, Inc.	Buy	+488+8.4%	$176.37K	6,292
Q4 2022Dec 31, 2022	REYN Reynolds Consumer Products Inc.	Reynolds Consumer Products Inc.	Buy	+388+8.4%	$149.96K	5,002
Q4 2022Dec 31, 2022	AZN Astrazeneca PLC	Astrazeneca PLC	Buy	+348+1.6%	$1.52M	22,396
Q4 2022Dec 31, 2022	FI Fiserv, Inc.	Fiserv, Inc.	Buy	+240+8.4%	$312.91K	3,096
Q4 2022Dec 31, 2022	MAS Masco Corporation	Masco Corporation	Buy	+60+0.0%	$83.19M	1,782,617
Q4 2022Dec 31, 2022	SNY Sanofi	Sanofi	Buy	+6+0.1%	$283.02K	5,844
Q4 2022Dec 31, 2022	MSI Motorola Solutions, Inc.	Motorola Solutions, Inc.	Sell	-13-1.8%	$184.00K	714
Q4 2022Dec 31, 2022	FICO Fair Isaac Corporation	Fair Isaac Corporation	Sell	-57-11.3%	$266.97K	446
Q4 2022Dec 31, 2022	MTB M&T Bank Corporation	M&T Bank Corporation	Sell	-446-4.0%	$1.55M	10,656
Q4 2022Dec 31, 2022	KEYS Keysight Technologies Inc.	Keysight Technologies Inc.	Sell	-587-0.3%	$39.25M	229,448
Q4 2022Dec 31, 2022	TCOM Trip.com Group Limited	Trip.com Group Limited	Sell	-1,888-0.7%	$9.73M	282,897
Q4 2022Dec 31, 2022	USB U.S. Bancorp	U.S. Bancorp	Sell	-1,999-1.0%	$8.56M	196,261
Q4 2022Dec 31, 2022	NOV NOV Inc.	NOV Inc.	Sell	-3,507-0.3%	$21.20M	1,014,769

Page 35 of 166 • 4968 total trades

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