MARSHFIELD ASSOCIATES Long-Term Concentrated

CIK: 0000914976 · Show all filings

Period: Q2 2014 (← Previous) (Next →)

Filing Date: Aug 13, 2014

Total Value ($000): $1,361,855 (100.0% shares, 0.0% debt)

Holdings (23)

— Wells Fargo & Company 10.9%

Value ($000) $148,926 Shares 2,833,443 Est. Cost $52.56 Unrealized —

ACGL Arch Capital Group Ltd 8.5%

Value ($000) $116,010 Shares 2,019,680 Est. Cost $16.55 Unrealized +9.4%

— Moody's Corp. 8.3%

Value ($000) $112,784 Shares 1,286,611 Est. Cost $87.66 Unrealized —

GS Goldman Sachs Group Inc 7.2%

Value ($000) $97,889 Shares 584,620 Est. Cost $121.64 Unrealized +5.8%

— Brown & Brown, Inc. 6.5%

Value ($000) $88,759 Shares 2,890,233 Est. Cost $30.71 Unrealized —

— YUM! Brands Inc 6.4%

Value ($000) $86,632 Shares 1,066,891 Est. Cost $81.20 Unrealized —

— Toll Brothers Inc 5.5%

Value ($000) $75,539 Shares 2,047,136 Est. Cost $36.90 Unrealized —

— Allied World Assurance Co Hldg 5.5%

Value ($000) $75,120 Shares 1,975,802 Est. Cost $57.86 Unrealized —

— US Bancorp 4.7%

Value ($000) $63,956 Shares 1,476,373 Est. Cost $43.32 Unrealized —

— Leucadia National Corporation 4.2%

Value ($000) $57,006 Shares 2,174,130 Est. Cost $26.22 Unrealized —

— Expeditors International of Wa 4.0%

Value ($000) $54,075 Shares 1,224,514 Est. Cost $44.16 Unrealized —

NVR NVR Inc. 4.0%

Value ($000) $53,878 Shares 46,826 Est. Cost $993.91 Unrealized +12.3%

DVN Devon Energy Corp 3.8%

Value ($000) $51,321 Shares 646,355 Est. Cost $38.57 Unrealized +27.1%

— Martin Marietta Materials 3.3%

Value ($000) $44,978 Shares 340,611 Est. Cost $132.05 Unrealized —

— Deere & Co. 3.1%

Value ($000) $42,741 Shares 472,016 Est. Cost $90.55 Unrealized —

MA Mastercard Inc Class A 2.9%

Value ($000) $39,560 Shares 538,446 Est. Cost $70.57 Unrealized -1.9%

— Fastenal Co 2.7%

Value ($000) $36,677 Shares 741,095 Est. Cost $49.49 Unrealized —

BRK/B Berkshire Hathaway Class B 2.6%

Value ($000) $34,828 Shares 275,190 Est. Cost $110.02 Unrealized +15.0%

— Union Pacific Corporation 2.2%

Value ($000) $30,250 Shares 303,262 Est. Cost $99.75 Unrealized —

BRK/A Berkshire Hathaway Class A 1.3%

Value ($000) $17,851 Shares 94 Est. Cost $165023.42 Unrealized +15.0%

— Waters Corp 1.1%

Value ($000) $15,637 Shares 149,725 Est. Cost $104.44 Unrealized —

V Visa Inc Cl A 1.1%

Value ($000) $15,504 Shares 73,578 Est. Cost $40.02 Unrealized +20.4%

CWGL Crimson Wine Group Ltd 0.1%

Value ($000) $1,934 Shares 213,741 Est. Cost $8.92 Unrealized -0.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Wells Fargo & Company	2,833,443	$148,926	10.9%	$52.56	—	COM	950000000
ACGL	Arch Capital Group Ltd	2,019,680	$116,010	8.5%	$16.55	+9.4%	COM	G0450A105
—	Moody's Corp.	1,286,611	$112,784	8.3%	$87.66	—	COM	615000000
GS	Goldman Sachs Group Inc	584,620	$97,889	7.2%	$121.64	+5.8%	COM	38141G104
—	Brown & Brown, Inc.	2,890,233	$88,759	6.5%	$30.71	—	COM	115000000
—	YUM! Brands Inc	1,066,891	$86,632	6.4%	$81.20	—	COM	988000000
—	Toll Brothers Inc	2,047,136	$75,539	5.5%	$36.90	—	COM	889000000
—	Allied World Assurance Co Hldg	1,975,802	$75,120	5.5%	$57.86	—	COM	H01531104
—	US Bancorp	1,476,373	$63,956	4.7%	$43.32	—	COM	903000000
—	Leucadia National Corporation	2,174,130	$57,006	4.2%	$26.22	—	COM	527000000
—	Expeditors International of Wa	1,224,514	$54,075	4.0%	$44.16	—	COM	302000000
NVR	NVR Inc.	46,826	$53,878	4.0%	$993.91	+12.3%	COM	62944T105
DVN	Devon Energy Corp	646,355	$51,321	3.8%	$38.57	+27.1%	COM	25179M103
—	Martin Marietta Materials	340,611	$44,978	3.3%	$132.05	—	COM	573000000
—	Deere & Co.	472,016	$42,741	3.1%	$90.55	—	COM	244000000
MA	Mastercard Inc Class A	538,446	$39,560	2.9%	$70.57	-1.9%	COM	57636Q104
—	Fastenal Co	741,095	$36,677	2.7%	$49.49	—	COM	312000000
BRK/B	Berkshire Hathaway Class B	275,190	$34,828	2.6%	$110.02	+15.0%	COM	084670702
—	Union Pacific Corporation	303,262	$30,250	2.2%	$99.75	—	COM	908000000
BRK/A	Berkshire Hathaway Class A	94	$17,851	1.3%	$165023.42	+15.0%	COM	084670108
—	Waters Corp	149,725	$15,637	1.1%	$104.44	—	COM	942000000
V	Visa Inc Cl A	73,578	$15,504	1.1%	$40.02	+20.4%	COM	92826C839
CWGL	Crimson Wine Group Ltd	213,741	$1,934	0.1%	$8.92	-0.9%	COM	22662X100