Rollup Updates / Hotfixes
Microsoft Rollup Updates are inclusive so the latest Rollup Update includes updates from the previous released update, however, there are prerequisite (requirements) for installing most hotfixes, rollup updates, service packs, etc.
OS Version Dependencies
Each OS version's hotfix / update stream of course will have it's own prerequisite as updates may be unique to the version or may be a back-port from a later OS versions, etc.
For Example:
Windows 2012 R2 Rollup Updates
April 2014 Rollup Update MUST be installed prior to any later Rollup Update being installed. Note: April 2014 Update includes ALL prior Rollup Updates (for 2012 R2).
November 2014 Rollup Update includes ALL prior (back to May 2014) EXCEPT for April 2014. April 2014 Update is Required to Install November 2014.
December 2014 is the Last (Current) Rollup Update to date (11/30/2015) as development teams were (are) focused on Windows 10 / 2016 releases. December 2015 Update does include additional patches, however, after applying December 2014 Update, you may need to apply later versions of hotfixes that were included in the December 2014 Rollup Update package.
December 2014 - December 2015 Hotfixes
Any hotfix released between November 2014 and December 2015 and is Not included within the November 2014 / December 2014 Rollup Update MUST be installed manually AFTER April 2014 & November 2014 Rollup Updates (minimum) have been installed
Note: (Check Hotfix file version numbers & file version Release Date)
Windows Update Service
Microsoft Windows Update Service will ONLY push critical updates and hotfixes that have wide-spread issues. Windows Update will NOT show, recommend or push hotfixes for unique or specific issues unless they are wide-spread so you MUST install any of these hotfixes manually.
Later Windows Rollup Updates in Future?
Will MS release later Rollup Updates for Windows 2012 R2? Yes, MS will likely Roll all hotfixes between Nov 2014 and Jan / Feb 2016 into a later Rollup Update once Win 10 / 2016 has been released, etc.
Final Reminder
You MUST install (at minimum) April 2014 & November 2014 prior to installing any later (~Nov 2014 thru 2016 Hotfixes). Minimum Supported is 2012 R2 with April 2014 Rollup Update but November 2014 Update should also be installed (DO IT).
http://social.technet.microsoft.com/wiki/contents/articles/23823.list-of-rollup-updates-for-windows-8-1-and-windows-server-2012-r2.aspx
https://support.microsoft.com/en-us/kb/2974503
Regards,