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 2016Dec 31, 2016	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Sell	-71,219-7.4%	$161.65K	886,827
Q4 2016Dec 31, 2016	EOG EOG Resources, Inc.	EOG Resources, Inc.	Sell	-88,890-34.9%	$16.78K	166,000
Q4 2016Dec 31, 2016	OMC Omnicom Group Inc.	Omnicom Group Inc.	Sell	-90,075-7.5%	$95.13K	1,117,699
Q4 2016Dec 31, 2016	ARCB ArcBest Corporation	ArcBest Corporation	Sell	-93,700-49.7%	$2.62K	94,820
Q4 2016Dec 31, 2016	ANSS ANSYS, Inc.	ANSYS, Inc.	Sell	-100,434-55.0%	$7.59K	82,060
Q4 2016Dec 31, 2016	VT Vanguard Total World Stock Inde	Vanguard Total World Stock Inde	Sell	-112,803-46.7%	$7.87K	128,969
Q4 2016Dec 31, 2016	GIFI Gulf Island Fabrication, Inc.	Gulf Island Fabrication, Inc.	Sell	-120,129-15.3%	$7.90K	663,771
Q4 2016Dec 31, 2016	MS Morgan Stanley	Morgan Stanley	Sell	-129,150-52.5%	$4.93K	116,692
Q4 2016Dec 31, 2016	BSAC Banco Santander - Chile	Banco Santander - Chile	Sell	-130,439-11.7%	$21.56K	986,025
Q4 2016Dec 31, 2016	LFUS Littelfuse, Inc.	Littelfuse, Inc.	Sell	-139,029-23.4%	$69.06K	455,005
Q4 2016Dec 31, 2016	RELL Richardson Electronics, Ltd.	Richardson Electronics, Ltd.	Sell	-140,964-13.9%	$5.50K	872,699
Q4 2016Dec 31, 2016	AZTA Azenta, Inc.	Azenta, Inc.	Sell	-155,290-19.0%	$11.28K	660,710
Q4 2016Dec 31, 2016	USB U.S. Bancorp	U.S. Bancorp	Sell	-159,866-32.0%	$17.46K	339,811
Q4 2016Dec 31, 2016	ZBRA Zebra Technologies Corporation	Zebra Technologies Corporation	Sell	-161,604-7.0%	$183.51K	2,139,837
Q4 2016Dec 31, 2016	CRWS Crown Crafts, Inc.	Crown Crafts, Inc.	Sell	-169,593-29.5%	$3.14K	404,862
Q4 2016Dec 31, 2016	BCO Brinks Company (The)	Brinks Company (The)	Sell	-201,083-17.8%	$38.26K	927,499
Q4 2016Dec 31, 2016	GAIA Gaia, Inc.	Gaia, Inc.	Sell	-213,046-16.0%	$9.70K	1,121,833
Q4 2016Dec 31, 2016	CVU CPI Aerostructures, Inc.	CPI Aerostructures, Inc.	Sell	-222,977-13.5%	$13.21K	1,427,538
Q4 2016Dec 31, 2016	CPIX Cumberland Pharmaceuticals Inc.	Cumberland Pharmaceuticals Inc.	Sell	-225,180-11.0%	$10.04K	1,824,580
Q4 2016Dec 31, 2016	CNTY Century Casinos, Inc.	Century Casinos, Inc.	Sell	-244,587-6.6%	$28.61K	3,476,882
Q4 2016Dec 31, 2016	WU Western Union Company (The)	Western Union Company (The)	Sell	-250,880-4.0%	$129.37K	5,956,053
Q4 2016Dec 31, 2016	JWN Nordstrom, Inc.	Nordstrom, Inc.	Sell	-273,908-24.2%	$41.12K	857,949
Q4 2016Dec 31, 2016	BEN Franklin Resources, Inc.	Franklin Resources, Inc.	Sell	-296,296-16.3%	$60.21K	1,521,120
Q4 2016Dec 31, 2016	KKR KKR & Co. Inc.	KKR & Co. Inc.	Sell	-303,228-2.8%	$159.40K	10,357,455
Q4 2016Dec 31, 2016	NTRS Northern Trust Corporation	Northern Trust Corporation	Sell	-338,529-13.6%	$191.50K	2,150,452
Q4 2016Dec 31, 2016	OESX Orion Energy Systems, Inc.	Orion Energy Systems, Inc.	Sell	-351,320-6.4%	$11.20K	5,163,080
Q4 2016Dec 31, 2016	LFCR Lifecore Biomedical, Inc.	Lifecore Biomedical, Inc.	Sell	-365,652-31.5%	$10.97K	794,934
Q4 2016Dec 31, 2016	ITUB Itau Unibanco Banco Holding SA	Itau Unibanco Banco Holding SA	Sell	-378,742-92.9%	$298.00	29,023
Q4 2016Dec 31, 2016	SSD Simpson Manufacturing Company,	Simpson Manufacturing Company,	Sell	-557,603-22.7%	$83.27K	1,903,201
Q4 2016Dec 31, 2016	AXTI AXT Inc	AXT Inc	Sell	-687,473-33.8%	$6.45K	1,344,402

Page 130 of 176 • 5272 total trades

«‹

128 129 130 131 132

›»