MARSHFIELD ASSOCIATES Long-Term Concentrated

Location: Washington, DC

CIK: 0000914976 · Show all filings

Period: Q1 2014 (← Previous) (Next →)

Filing Date: May 14, 2014

Total Value: $1.361B (100.0% shares, 0.0% debt)

Holdings (25)

WFC Wells Fargo & Company 10.5%

Value $143M Shares 2,871,110 Est. Cost $27.36 Unrealized +22.1%

ACGL Arch Capital Group Ltd 8.6%

Value $117M Shares 2,038,336 Est. Cost $16.55 Unrealized +6.5%

MCO Moody's Corp. 7.6%

Value $103M Shares 1,301,995 Est. Cost $53.10 Unrealized +30.4%

BRO Brown & Brown, Inc. 7.1%

Value $95.99M Shares 3,120,742 Est. Cost $13.98 Unrealized -2.1%

YUM YUM! Brands Inc 6.0%

Value $81.44M Shares 1,080,260 Est. Cost $38.97 Unrealized +7.9%

GS Goldman Sachs Group Inc 5.8%

Value $78.3M Shares 477,854 Est. Cost $120.06 Unrealized +11.4%

TOL Toll Brothers Inc 5.5%

Value $74.24M Shares 2,068,091 Est. Cost $33.80 Unrealized +8.9%

— Allied World Assurance Co Hldg 5.0%

Value $67.91M Shares 658,111 Est. Cost $97.57 Unrealized —

USB US Bancorp 4.7%

Value $63.84M Shares 1,489,495 Est. Cost $22.41 Unrealized +22.0%

— Leucadia National Corporation 4.6%

Value $62.17M Shares 2,220,262 Est. Cost $26.22 Unrealized —

NVR NVR Inc. 4.0%

Value $54.48M Shares 47,502 Est. Cost $993.91 Unrealized +13.3%

EXPD Expeditors International of Wa 3.6%

Value $48.5M Shares 1,223,805 Est. Cost $32.10 Unrealized +9.4%

MLM Martin Marietta Materials 3.5%

Value $48.24M Shares 375,851 Est. Cost $93.00 Unrealized +12.1%

DVN Devon Energy Corp 3.2%

Value $43.61M Shares 651,582 Est. Cost $38.57 Unrealized +8.1%

DE Deere & Co. 3.2%

Value $43.04M Shares 473,987 Est. Cost $66.32 Unrealized +5.7%

MA Mastercard Inc Class A 3.0%

Value $40.67M Shares 544,481 Est. Cost $70.57 Unrealized +3.0%

FAST Fastenal Co 2.7%

Value $36.68M Shares 744,101 Est. Cost $8.84 Unrealized -3.1%

BRK/B Berkshire Hathaway Class B 2.6%

Value $34.93M Shares 279,540 Est. Cost $110.02 Unrealized +6.2%

CHRW C.H. Robinson Worldwide Inc. 2.3%

Value $31.23M Shares 596,040 Est. Cost $42.76 Unrealized -3.8%

UNP Union Pacific Corporation 2.1%

Value $28.56M Shares 152,181 Est. Cost $57.06 Unrealized +19.6%

BRK/A Berkshire Hathaway Class A 1.5%

Value $20.61M Shares 110 Est. Cost $165023.42 Unrealized +6.4%

WAT Waters Corp 1.2%

Value $16.21M Shares 149,549 Est. Cost $95.76 Unrealized +13.2%

V Visa Inc Cl A 1.2%

Value $16.03M Shares 74,281 Est. Cost $40.02 Unrealized +27.7%

MCD Mc Donald's Corporation 0.7%

Value $8.992M Shares 91,731 Est. Cost $71.80 Unrealized -2.1%

CWGL Crimson Wine Group Ltd 0.1%

Value $1.919M Shares 216,857 Est. Cost $8.92 Unrealized -6.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WFC	Wells Fargo & Company	2,871,110	$143M	10.5%	$27.36	+22.1%	COM	949746101
ACGL	Arch Capital Group Ltd	2,038,336	$117M	8.6%	$16.55	+6.5%	COM	G0450A105
MCO	Moody's Corp.	1,301,995	$103M	7.6%	$53.10	+30.4%	COM	615369105
BRO	Brown & Brown, Inc.	3,120,742	$95.99M	7.1%	$13.98	-2.1%	COM	115236101
YUM	YUM! Brands Inc	1,080,260	$81.44M	6.0%	$38.97	+7.9%	COM	988498101
GS	Goldman Sachs Group Inc	477,854	$78.3M	5.8%	$120.06	+11.4%	COM	38141G104
TOL	Toll Brothers Inc	2,068,091	$74.24M	5.5%	$33.80	+8.9%	COM	889478103
—	Allied World Assurance Co Hldg	658,111	$67.91M	5.0%	$97.57	—	COM	H01531104
USB	US Bancorp	1,489,495	$63.84M	4.7%	$22.41	+22.0%	COM	902973304
—	Leucadia National Corporation	2,220,262	$62.17M	4.6%	$26.22	—	COM	527288104
NVR	NVR Inc.	47,502	$54.48M	4.0%	$993.91	+13.3%	COM	62944T105
EXPD	Expeditors International of Wa	1,223,805	$48.5M	3.6%	$32.10	+9.4%	COM	302130109
MLM	Martin Marietta Materials	375,851	$48.24M	3.5%	$93.00	+12.1%	COM	573284106
DVN	Devon Energy Corp	651,582	$43.61M	3.2%	$38.57	+8.1%	COM	25179M103
DE	Deere & Co.	473,987	$43.04M	3.2%	$66.32	+5.7%	COM	244199105
MA	Mastercard Inc Class A	544,481	$40.67M	3.0%	$70.57	+3.0%	COM	57636Q104
FAST	Fastenal Co	744,101	$36.68M	2.7%	$8.84	-3.1%	COM	311900104
BRK/B	Berkshire Hathaway Class B	279,540	$34.93M	2.6%	$110.02	+6.2%	COM	084670702
CHRW	C.H. Robinson Worldwide Inc.	596,040	$31.23M	2.3%	$42.76	-3.8%	COM	12541W209
UNP	Union Pacific Corporation	152,181	$28.56M	2.1%	$57.06	+19.6%	COM	907818108
BRK/A	Berkshire Hathaway Class A	110	$20.61M	1.5%	$165023.42	+6.4%	COM	084670108
WAT	Waters Corp	149,549	$16.21M	1.2%	$95.76	+13.2%	COM	941848103
V	Visa Inc Cl A	74,281	$16.03M	1.2%	$40.02	+27.7%	COM	92826C839
MCD	Mc Donald's Corporation	91,731	$8.992M	0.7%	$71.80	-2.1%	COM	580135101
CWGL	Crimson Wine Group Ltd	216,857	$1.919M	0.1%	$8.92	-6.3%	COM	22662X100