John W. Rogers Jr. - Ariel Appreciation Fund Portfolio

Period Date		Jun 30, 2025
Filing Date		Aug 14, 2025
Total Stocks		104
Portfolio Value		$8.82B

Ariel Appreciation Fund Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q2 2019Jun 30, 2019	ITW Illinois Tool Works Inc.	Illinois Tool Works Inc.	Sell	-3,296-0.9%	$54.23K	359,612
Q2 2019Jun 30, 2019	SWK Stanley Black & Decker, Inc.	Stanley Black & Decker, Inc.	Sell	-4,045-0.6%	$92.69K	640,937
Q2 2019Jun 30, 2019	ZBH Zimmer Biomet Holdings, Inc.	Zimmer Biomet Holdings, Inc.	Sell	-4,278-0.6%	$83.15K	706,227
Q2 2019Jun 30, 2019	USB U.S. Bancorp	U.S. Bancorp	Sell	-4,510-1.2%	$19.94K	380,580
Q2 2019Jun 30, 2019	WU Western Union Company (The)	Western Union Company (The)	Sell	-4,911-0.3%	$37.30K	1,875,269
Q2 2019Jun 30, 2019	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Sell	-5,733-0.7%	$40.52K	860,367
Q2 2019Jun 30, 2019	PGR Progressive Corporation (The)	Progressive Corporation (The)	Sell	-5,799-0.6%	$73.27K	916,702
Q2 2019Jun 30, 2019	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-6,499-1.1%	$121.54K	570,136
Q2 2019Jun 30, 2019	SNA Snap-On Incorporated	Snap-On Incorporated	Sell	-7,241-0.9%	$139.28K	840,846
Q2 2019Jun 30, 2019	OMC Omnicom Group Inc.	Omnicom Group Inc.	Sell	-7,738-1.1%	$56.09K	684,479
Q2 2019Jun 30, 2019	TMO Thermo Fisher Scientific Inc	Thermo Fisher Scientific Inc	Sell	-8,564-5.3%	$44.53K	151,641
Q2 2019Jun 30, 2019	BIO Bio-Rad Laboratories, Inc.	Bio-Rad Laboratories, Inc.	Sell	-9,031-3.8%	$72.31K	231,318
Q2 2019Jun 30, 2019	SRE DBA Sempra	DBA Sempra	Sell - Position Exit	-9,671-100.0%	$0.00	-
Q2 2019Jun 30, 2019	AFL AFLAC Incorporated	AFLAC Incorporated	Sell	-10,990-0.7%	$88.31K	1,611,250
Q2 2019Jun 30, 2019	ATGE Adtalem Global Education Inc.	Adtalem Global Education Inc.	Sell	-14,365-1.5%	$42.28K	938,436
Q2 2019Jun 30, 2019	ZBRA Zebra Technologies Corporation	Zebra Technologies Corporation	Sell	-17,429-2.4%	$146.37K	698,672
Q2 2019Jun 30, 2019	MATW Matthews International Corporat	Matthews International Corporat	Sell	-18,325-8.0%	$7.35K	210,776
Q2 2019Jun 30, 2019	AXP American Express Company	American Express Company	Sell - Position Exit	-21,161-100.0%	$0.00	-
Q2 2019Jun 30, 2019	DFS Discover Financial Services	Discover Financial Services	Sell - Position Exit	-21,762-100.0%	$0.00	-
Q2 2019Jun 30, 2019	HMN Horace Mann Educators Corporati	Horace Mann Educators Corporati	Sell	-22,051-9.0%	$9.01K	223,493
Q2 2019Jun 30, 2019	ACTG Acacia Research Corporation	Acacia Research Corporation	Sell	-23,153-0.9%	$7.19K	2,428,943
Q2 2019Jun 30, 2019	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Sell	-30,935-3.7%	$115.72K	815,507
Q2 2019Jun 30, 2019	TS Tenaris S.A.	Tenaris S.A.	Sell	-31,167-2.9%	$27.00K	1,026,210
Q2 2019Jun 30, 2019	BSAC Banco Santander - Chile	Banco Santander - Chile	Sell	-38,933-5.4%	$20.34K	679,761
Q2 2019Jun 30, 2019	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-42,341-31.4%	$24.48K	92,635
Q2 2019Jun 30, 2019	MSGS Madison Square Garden Sports Co	Madison Square Garden Sports Co	Sell	-44,161-18.0%	$56.16K	200,615
Q2 2019Jun 30, 2019	BCO Brinks Company (The)	Brinks Company (The)	Sell	-45,786-8.9%	$38.02K	468,396
Q2 2019Jun 30, 2019	FICO Fair Isaac Corporation	Fair Isaac Corporation	Sell	-46,523-28.1%	$37.45K	119,272
Q2 2019Jun 30, 2019	CVU CPI Aerostructures, Inc.	CPI Aerostructures, Inc.	Sell	-55,255-10.3%	$4.05K	481,113
Q2 2019Jun 30, 2019	TRC Tejon Ranch Co	Tejon Ranch Co	Sell	-66,177-12.7%	$7.52K	453,054

Page 83 of 166 • 4967 total trades

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