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 2024Dec 31, 2024	MGPI MGP Ingredients, Inc.	MGP Ingredients, Inc.	Buy	+89,461+17.6%	$23.58M	598,903
Q4 2024Dec 31, 2024	MIDD The Middleby Corporation	The Middleby Corporation	Buy	+72,031+6.4%	$162.29M	1,198,179
Q4 2024Dec 31, 2024	IWN iShares Russell 2000 Value ETF	iShares Russell 2000 Value ETF	Buy	+31,131+203.8%	$7.62M	46,404
Q4 2024Dec 31, 2024	WBA Walgreens Boots Alliance, Inc.	Walgreens Boots Alliance, Inc.	Buy	+25,047+2.8%	$8.47M	907,748
Q4 2024Dec 31, 2024	MTN Vail Resorts, Inc.	Vail Resorts, Inc.	Buy	+21,020+8.6%	$49.74M	265,338
Q4 2024Dec 31, 2024	SLB Schlumberger N.V.	Schlumberger N.V.	Buy - Position Entry	+19,135	$733.64K	19,135
Q4 2024Dec 31, 2024	MAT Mattel, Inc.	Mattel, Inc.	Buy	+12,583+0.1%	$262.77M	14,820,745
Q4 2024Dec 31, 2024	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+6,093+24.3%	$4.51M	31,163
Q4 2024Dec 31, 2024	APA APA Corporation	APA Corporation	Buy	+5,590+2.3%	$5.69M	246,222
Q4 2024Dec 31, 2024	BYD Boyd Gaming Corporation	Boyd Gaming Corporation	Buy	+1,263+0.0%	$231.14M	3,186,400
Q4 2024Dec 31, 2024	KSPI Joint Stock Company Kaspi.kz -	Joint Stock Company Kaspi.kz -	Buy	+1,263+57.1%	$328.93K	3,473
Q4 2024Dec 31, 2024	ZBH Zimmer Biomet Holdings, Inc.	Zimmer Biomet Holdings, Inc.	Buy	+847+0.3%	$31.49M	298,101
Q4 2024Dec 31, 2024	REYN Reynolds Consumer Products Inc.	Reynolds Consumer Products Inc.	Buy	+426+6.1%	$200.97K	7,446
Q4 2024Dec 31, 2024	BRC Brady Corporation	Brady Corporation	Buy	+220+6.1%	$283.58K	3,840
Q4 2024Dec 31, 2024	FI Fiserv, Inc.	Fiserv, Inc.	Buy	+140+3.1%	$961.57K	4,681
Q4 2024Dec 31, 2024	MTB M&T Bank Corporation	M&T Bank Corporation	Buy	+126+6.1%	$412.49K	2,194
Q4 2024Dec 31, 2024	MSI Motorola Solutions, Inc.	Motorola Solutions, Inc.	Buy	+47+6.2%	$369.78K	800
Q4 2024Dec 31, 2024	FICO Fair Isaac Corporation	Fair Isaac Corporation	Sell	-21-8.2%	$469.86K	236
Q4 2024Dec 31, 2024	LMT Lockheed Martin Corporation	Lockheed Martin Corporation	Sell	-231-1.8%	$6.18M	12,710
Q4 2024Dec 31, 2024	PGR Progressive Corporation (The)	Progressive Corporation (The)	Sell - Position Exit	-869-100.0%	$0.00	-
Q4 2024Dec 31, 2024	SNA Snap-On Incorporated	Snap-On Incorporated	Sell	-1,101-2.7%	$13.68M	40,292
Q4 2024Dec 31, 2024	SSD Simpson Manufacturing Company,	Simpson Manufacturing Company,	Sell	-2,463-2.2%	$17.88M	107,828
Q4 2024Dec 31, 2024	PHIN PHINIA Inc.	PHINIA Inc.	Sell	-2,665-1.9%	$6.75M	140,232
Q4 2024Dec 31, 2024	MAS Masco Corporation	Masco Corporation	Sell	-3,784-0.4%	$74.60M	1,027,939
Q4 2024Dec 31, 2024	BAC Bank of America Corporation	Bank of America Corporation	Sell	-4,539-2.7%	$7.24M	164,820
Q4 2024Dec 31, 2024	LEN Lennar Corporation	Lennar Corporation	Sell	-5,118-4.0%	$16.90M	123,938
Q4 2024Dec 31, 2024	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Sell	-5,579-4.0%	$18.88M	135,049
Q4 2024Dec 31, 2024	PM Philip Morris International Inc	Philip Morris International Inc	Sell	-6,559-3.7%	$20.82M	173,034
Q4 2024Dec 31, 2024	DVA DaVita Inc.	DaVita Inc.	Sell	-9,770-4.0%	$35.15M	235,058
Q4 2024Dec 31, 2024	KEYS Keysight Technologies Inc.	Keysight Technologies Inc.	Sell	-10,686-3.6%	$46.14M	287,236

Page 8 of 166 • 4968 total trades

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