MARSHFIELD ASSOCIATES Long-Term Concentrated

Location: Washington, DC

CIK: 0000914976 · Show all filings

Period: Q1 2016 (← Previous) (Next →)

Filing Date: May 16, 2016

Total Value: $1.411B (100.0% shares, 0.0% debt)

Holdings (22)

MCO Moody's Corp. 9.6%

Value $135M Shares 1,398,637 Est. Cost $81.86 Unrealized -0.3%

ACGL Arch Capital Group Ltd 8.8%

Value $124M Shares 1,750,044 Est. Cost $16.55 Unrealized +30.9%

FAST Fastenal Co 6.7%

Value $94.8M Shares 1,934,599 Est. Cost $8.01 Unrealized +4.6%

GS Goldman Sachs Group Inc 6.6%

Value $92.67M Shares 590,361 Est. Cost $122.08 Unrealized +3.4%

WFC Wells Fargo & Company 6.5%

Value $91.57M Shares 1,893,523 Est. Cost $37.41 Unrealized -0.8%

NVR NVR Inc. 6.2%

Value $86.79M Shares 50,097 Est. Cost $1051.58 Unrealized +53.8%

YUM YUM! Brands Inc 6.0%

Value $84.57M Shares 1,033,233 Est. Cost $42.96 Unrealized +1.9%

CMI Cummins Inc 5.5%

Value $78.24M Shares 711,641 Est. Cost $84.91 Unrealized -12.6%

— Allied World Assurance Co Hldg 5.1%

Value $71.9M Shares 2,057,890 Est. Cost $56.13 Unrealized —

DE Deere & Co. 5.0%

Value $70.7M Shares 918,274 Est. Cost $71.04 Unrealized -6.7%

EXPD Expeditors International of Washington 4.9%

Value $69.64M Shares 1,426,758 Est. Cost $37.46 Unrealized +7.9%

UNP Union Pacific Corporation 4.5%

Value $63.71M Shares 800,852 Est. Cost $68.12 Unrealized -9.0%

MA Mastercard Inc Class A 4.4%

Value $62.07M Shares 656,790 Est. Cost $71.20 Unrealized +17.2%

V Visa Inc Cl A 4.2%

Value $58.56M Shares 765,728 Est. Cost $57.55 Unrealized +17.8%

TOL Toll Brothers Inc 3.9%

Value $55.27M Shares 1,872,972 Est. Cost $34.26 Unrealized -18.4%

USB US Bancorp 3.8%

Value $53.42M Shares 1,316,192 Est. Cost $28.42 Unrealized -2.2%

ROST Ross Stores Inc 3.8%

Value $53.12M Shares 917,354 Est. Cost $46.16 Unrealized +9.1%

— Strayer Education Inc 1.8%

Value $25.42M Shares 521,500 Est. Cost $60.42 Unrealized —

WAT Waters Corp 1.3%

Value $18.69M Shares 141,692 Est. Cost $103.09 Unrealized +21.0%

— Leucadia National Corporation 1.3%

Value $17.79M Shares 1,099,895 Est. Cost $23.75 Unrealized —

CWGL Crimson Wine Group Ltd 0.1%

Value $1.298M Shares 154,901 Est. Cost $8.92 Unrealized -8.2%

CMG Chipotle Mexican Grill Cl A 0.1%

Value $850K Shares 1,804 Est. Cost $9.51 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MCO	Moody's Corp.	1,398,637	$135M	9.6%	$81.86	-0.3%	COM	615369105
ACGL	Arch Capital Group Ltd	1,750,044	$124M	8.8%	$16.55	+30.9%	COM	G0450A105
FAST	Fastenal Co	1,934,599	$94.8M	6.7%	$8.01	+4.6%	COM	311900104
GS	Goldman Sachs Group Inc	590,361	$92.67M	6.6%	$122.08	+3.4%	COM	38141G104
WFC	Wells Fargo & Company	1,893,523	$91.57M	6.5%	$37.41	-0.8%	COM	949746101
NVR	NVR Inc.	50,097	$86.79M	6.2%	$1051.58	+53.8%	COM	62944T105
YUM	YUM! Brands Inc	1,033,233	$84.57M	6.0%	$42.96	+1.9%	COM	988498101
CMI	Cummins Inc	711,641	$78.24M	5.5%	$84.91	-12.6%	COM	231021106
—	Allied World Assurance Co Hldg	2,057,890	$71.9M	5.1%	$56.13	—	COM	H01531104
DE	Deere & Co.	918,274	$70.7M	5.0%	$71.04	-6.7%	COM	244199105
EXPD	Expeditors International of Washington	1,426,758	$69.64M	4.9%	$37.46	+7.9%	COM	302130109
UNP	Union Pacific Corporation	800,852	$63.71M	4.5%	$68.12	-9.0%	COM	907818108
MA	Mastercard Inc Class A	656,790	$62.07M	4.4%	$71.20	+17.2%	COM	57636Q104
V	Visa Inc Cl A	765,728	$58.56M	4.2%	$57.55	+17.8%	COM	92826C839
TOL	Toll Brothers Inc	1,872,972	$55.27M	3.9%	$34.26	-18.4%	COM	889478103
USB	US Bancorp	1,316,192	$53.42M	3.8%	$28.42	-2.2%	COM	902973304
ROST	Ross Stores Inc	917,354	$53.12M	3.8%	$46.16	+9.1%	COM	778296103
—	Strayer Education Inc	521,500	$25.42M	1.8%	$60.42	—	COM	863236105
WAT	Waters Corp	141,692	$18.69M	1.3%	$103.09	+21.0%	COM	941848103
—	Leucadia National Corporation	1,099,895	$17.79M	1.3%	$23.75	—	COM	527288104
CWGL	Crimson Wine Group Ltd	154,901	$1.298M	0.1%	$8.92	-8.2%	COM	22662X100
CMG	Chipotle Mexican Grill Cl A	1,804	$850K	0.1%	$9.51	0.0%	COM	169656105