MARSHFIELD ASSOCIATES Long-Term Concentrated

Location: Washington, DC

CIK: 0000914976 · Show all filings

Period: Q4 2021 (← Previous) (Next →)

Filing Date: May 9, 2023

Total Value: $2.524B

Holdings (18)

AZO Autozone Inc. 11.9%

Value $300M Shares 143,164 Est. Cost $737.69 Unrealized +152.4%

GS Goldman Sachs Group Inc 10.6%

Value $268M Shares 699,846 Est. Cost $163.41 Unrealized +118.2%

ACGL Arch Capital Group Ltd 10.2%

Value $258M Shares 5,798,439 Est. Cost $27.13 Unrealized +48.7%

CMI Cummins Inc 7.4%

Value $187M Shares 855,158 Est. Cost $114.52 Unrealized +79.7%

EXPD Expeditors International of Wa 7.0%

Value $178M Shares 1,322,865 Est. Cost $47.20 Unrealized +152.1%

ORLY O'Reilly Automotive Inc 6.9%

Value $174M Shares 246,763 Est. Cost $15.68 Unrealized +175.9%

V Visa Inc Cl A 6.5%

Value $165M Shares 761,387 Est. Cost $95.97 Unrealized +116.9%

MA Mastercard Inc Class A 6.5%

Value $165M Shares 458,127 Est. Cost $92.70 Unrealized +264.4%

ROST Ross Stores Inc 6.2%

Value $157M Shares 1,373,864 Est. Cost $76.42 Unrealized +39.5%

MCO Moody's Corp. 4.9%

Value $123M Shares 314,207 Est. Cost $96.80 Unrealized +284.7%

PGR Progressive Corp 4.7%

Value $119M Shares 1,163,770 Est. Cost $86.62 Unrealized -1.0%

STRA Strategic Education Inc 4.5%

Value $113M Shares 1,947,990 Est. Cost $81.63 Unrealized -32.1%

FAST Fastenal Co 4.1%

Value $104M Shares 1,616,210 Est. Cost $11.65 Unrealized +129.0%

NVR NVR Inc 3.5%

Value $88.64M Shares 15,002 Est. Cost $1387.56 Unrealized +280.4%

UNP Union Pacific Corporation 3.5%

Value $87.26M Shares 346,360 Est. Cost $80.75 Unrealized +166.2%

TJX TJX Companies Inc 1.2%

Value $29.58M Shares 389,601 Est. Cost $53.93 Unrealized +21.0%

VGSH Vanguard Scottsdale Fds 0.2%

Value $5.624M Shares 92,457 Est. Cost $61.25 Unrealized —

BIL SPDR Ser Tr 0.1%

Value $3.726M Shares 40,754 Est. Cost $91.52 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AZO	Autozone Inc.	143,164	$300M	11.9%	$737.69	+152.4%	—	053332102
GS	Goldman Sachs Group Inc	699,846	$268M	10.6%	$163.41	+118.2%	—	38141G104
ACGL	Arch Capital Group Ltd	5,798,439	$258M	10.2%	$27.13	+48.7%	—	G0450A105
CMI	Cummins Inc	855,158	$187M	7.4%	$114.52	+79.7%	—	231021106
EXPD	Expeditors International of Wa	1,322,865	$178M	7.0%	$47.20	+152.1%	—	302130109
ORLY	O'Reilly Automotive Inc	246,763	$174M	6.9%	$15.68	+175.9%	—	67103H107
V	Visa Inc Cl A	761,387	$165M	6.5%	$95.97	+116.9%	—	92826C839
MA	Mastercard Inc Class A	458,127	$165M	6.5%	$92.70	+264.4%	—	57636Q104
ROST	Ross Stores Inc	1,373,864	$157M	6.2%	$76.42	+39.5%	—	778296103
MCO	Moody's Corp.	314,207	$123M	4.9%	$96.80	+284.7%	—	615369105
PGR	Progressive Corp	1,163,770	$119M	4.7%	$86.62	-1.0%	—	743315103
STRA	Strategic Education Inc	1,947,990	$113M	4.5%	$81.63	-32.1%	—	86272C103
FAST	Fastenal Co	1,616,210	$104M	4.1%	$11.65	+129.0%	—	311900104
NVR	NVR Inc	15,002	$88.64M	3.5%	$1387.56	+280.4%	—	62944T105
UNP	Union Pacific Corporation	346,360	$87.26M	3.5%	$80.75	+166.2%	—	907818108
TJX	TJX Companies Inc	389,601	$29.58M	1.2%	$53.93	+21.0%	—	872540109
VGSH	Vanguard Scottsdale Fds	92,457	$5.624M	0.2%	$61.25	—	—	92206C102
BIL	SPDR Ser Tr	40,754	$3.726M	0.1%	$91.52	—	—	78468R663