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
Q1 2014Mar 31, 2014	SNA Snap-On Incorporated	Snap-On Incorporated	Sell	-66,239-5.2%	$137.83K	1,214,538
Q1 2014Mar 31, 2014	LFUS Littelfuse, Inc.	Littelfuse, Inc.	Sell	-69,535-6.9%	$87.30K	932,339
Q1 2014Mar 31, 2014	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Sell	-77,878-7.1%	$131.29K	1,024,729
Q1 2014Mar 31, 2014	ITW Illinois Tool Works Inc.	Illinois Tool Works Inc.	Sell	-81,474-6.7%	$91.75K	1,128,171
Q1 2014Mar 31, 2014	EBS Emergent BioSolutions Inc.	Emergent BioSolutions Inc.	Sell - Position Exit	-122,650-100.0%	$0.00	-
Q1 2014Mar 31, 2014	TILE Interface, Inc.	Interface, Inc.	Sell	-138,892-5.8%	$46.65K	2,270,065
Q1 2014Mar 31, 2014	RCL Royal Caribbean	Royal Caribbean	Sell	-145,815-7.1%	$104.56K	1,916,436
Q1 2014Mar 31, 2014	MODG Topgolf Callaway Brands Corp.	Topgolf Callaway Brands Corp.	Sell - Position Exit	-155,700-100.0%	$0.00	-
Q1 2014Mar 31, 2014	NWL Newell Brands Inc.	Newell Brands Inc.	Sell	-205,192-5.4%	$107.39K	3,591,525
Q1 2014Mar 31, 2014	IPG Interpublic Group of Companies,	Interpublic Group of Companies,	Sell	-238,945-1.7%	$232.73K	13,577,928
Q1 2014Mar 31, 2014	IEX IDEX Corporation	IDEX Corporation	Sell	-274,678-24.6%	$61.35K	841,736
Q1 2014Mar 31, 2014	TMO Thermo Fisher Scientific Inc	Thermo Fisher Scientific Inc	Sell	-290,561-34.3%	$66.86K	556,094
Q1 2014Mar 31, 2014	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-296,156-5.6%	$137.00K	4,994,632
Q1 2014Mar 31, 2014	FAF First American Corporation (New	First American Corporation (New	Sell	-361,875-3.6%	$254.96K	9,603,028
Q1 2014Mar 31, 2014	JLL Jones Lang LaSalle Incorporated	Jones Lang LaSalle Incorporated	Sell	-454,429-17.9%	$246.56K	2,080,710
Q1 2014Mar 31, 2014	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Sell	-619,955-23.6%	$121.24K	2,009,262
Q4 2013Dec 31, 2013	WU Western Union Company (The)	Western Union Company (The)	Buy	+1,625,020+15.4%	$209.93K	12,169,803
Q4 2013Dec 31, 2013	LFCR Lifecore Biomedical, Inc.	Lifecore Biomedical, Inc.	Buy	+1,078,147+110.1%	$24.94K	2,057,722
Q4 2013Dec 31, 2013	NOK Nokia Corporation Sponsored	Nokia Corporation Sponsored	Buy	+811,468+427.9%	$8.12K	1,001,092
Q4 2013Dec 31, 2013	CPIX Cumberland Pharmaceuticals Inc.	Cumberland Pharmaceuticals Inc.	Buy	+779,805+44.3%	$12.97K	2,538,760
Q4 2013Dec 31, 2013	ACTG Acacia Research Corporation	Acacia Research Corporation	Buy	+736,348+823.8%	$12.01K	825,734
Q4 2013Dec 31, 2013	AWRE Aware, Inc.	Aware, Inc.	Buy - Position Entry	+548,584	$3.35K	548,584
Q4 2013Dec 31, 2013	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+530,807+127.6%	$35.42K	946,694
Q4 2013Dec 31, 2013	ZBRA Zebra Technologies Corporation	Zebra Technologies Corporation	Buy - Position Entry	+496,788	$26.87K	496,788
Q4 2013Dec 31, 2013	OESX Orion Energy Systems, Inc.	Orion Energy Systems, Inc.	Buy	+445,213+14.0%	$24.69K	3,631,431
Q4 2013Dec 31, 2013	NVDA NVIDIA Corporation	NVIDIA Corporation	Buy	+428,027+415.6%	$8.51K	531,007
Q4 2013Dec 31, 2013	CBRE CBRE Group Inc	CBRE Group Inc	Buy	+400,520+8.2%	$139.15K	5,290,788
Q4 2013Dec 31, 2013	JWN Nordstrom, Inc.	Nordstrom, Inc.	Buy	+341,331+28.0%	$96.46K	1,560,819
Q4 2013Dec 31, 2013	SJM The J.M. Smucker Company	The J.M. Smucker Company	Buy	+339,915+68.7%	$86.48K	834,578
Q4 2013Dec 31, 2013	BRC Brady Corporation	Brady Corporation	Buy	+336,764+13.2%	$89.08K	2,880,191

Page 168 of 176 • 5272 total trades

«‹

166 167 168 169 170

›»