MARSHFIELD ASSOCIATES Long-Term Concentrated

CIK: 0000914976 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 14, 2025

Total Value ($000): $4,892,094 (100.0% shares, 0.0% debt)

Holdings (19)

AZO AUTOZONE INC 12.7%

Value ($000) $620,089 Shares 167,039 Est. Cost $1077.58 Unrealized +242.1%

ROST ROSS STORES INC 10.1%

Value ($000) $492,845 Shares 3,863,028 Est. Cost $89.01 Unrealized +54.8%

ORLY OREILLY AUTOMOTIVE INC 7.1%

Value ($000) $347,537 Shares 3,855,957 Est. Cost $86.21 Unrealized +5.8%

CMI CUMMINS INC 7.1%

Value ($000) $345,859 Shares 1,056,059 Est. Cost $133.25 Unrealized +129.4%

V VISA INC 6.9%

Value ($000) $336,295 Shares 947,177 Est. Cost $121.48 Unrealized +185.6%

DPZ DOMINOS PIZZA INC 6.6%

Value ($000) $322,517 Shares 715,750 Est. Cost $368.39 Unrealized +26.0%

MA MASTERCARD INCORPORATED 6.5%

Value ($000) $318,306 Shares 566,442 Est. Cost $152.68 Unrealized +261.2%

UNH UNITEDHEALTH GROUP INC 6.5%

Value ($000) $317,675 Shares 1,018,288 Est. Cost $374.94 Unrealized 0.0%

MCO MOODYS CORP 5.3%

Value ($000) $258,827 Shares 516,014 Est. Cost $176.28 Unrealized +161.5%

PGR PROGRESSIVE CORP 5.0%

Value ($000) $246,496 Shares 923,690 Est. Cost $103.62 Unrealized +148.5%

ACGL ARCH CAP GROUP LTD 4.8%

Value ($000) $235,220 Shares 2,583,412 Est. Cost $28.75 Unrealized +221.0%

EXPD EXPEDITORS INTL WASH INC 4.3%

Value ($000) $212,112 Shares 1,856,558 Est. Cost $63.56 Unrealized +74.4%

DIS DISNEY WALT CO 4.0%

Value ($000) $195,287 Shares 1,574,766 Est. Cost $83.72 Unrealized +22.8%

NVR NVR INC 3.6%

Value ($000) $176,606 Shares 23,912 Est. Cost $3313.16 Unrealized +116.3%

FAST FASTENAL CO 3.4%

Value ($000) $166,577 Shares 3,966,125 Est. Cost $27.56 Unrealized +45.5%

STRA STRATEGIC ED INC 3.1%

Value ($000) $154,094 Shares 1,810,104 Est. Cost $80.63 Unrealized +3.4%

TJX TJX COS INC NEW 2.7%

Value ($000) $131,903 Shares 1,068,130 Est. Cost $61.72 Unrealized +103.9%

BIL SPDR SERIES TRUST 0.3%

Value ($000) $12,811 Shares 139,663 Est. Cost $91.70 Unrealized —

VGSH VANGUARD SCOTTSDALE FDS 0.0%

Value ($000) $1,037 Shares 17,638 Est. Cost $61.25 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AZO	AUTOZONE INC	167,039	$620,089	12.7%	$1077.58	+242.1%	COM	053332102
ROST	ROSS STORES INC	3,863,028	$492,845	10.1%	$89.01	+54.8%	COM	778296103
ORLY	OREILLY AUTOMOTIVE INC	3,855,957	$347,537	7.1%	$86.21	+5.8%	COM	67103H107
CMI	CUMMINS INC	1,056,059	$345,859	7.1%	$133.25	+129.4%	COM	231021106
V	VISA INC	947,177	$336,295	6.9%	$121.48	+185.6%	COM CL A	92826C839
DPZ	DOMINOS PIZZA INC	715,750	$322,517	6.6%	$368.39	+26.0%	COM	25754A201
MA	MASTERCARD INCORPORATED	566,442	$318,306	6.5%	$152.68	+261.2%	CL A	57636Q104
UNH	UNITEDHEALTH GROUP INC	1,018,288	$317,675	6.5%	$374.94	0.0%	COM	91324P102
MCO	MOODYS CORP	516,014	$258,827	5.3%	$176.28	+161.5%	COM	615369105
PGR	PROGRESSIVE CORP	923,690	$246,496	5.0%	$103.62	+148.5%	COM	743315103
ACGL	ARCH CAP GROUP LTD	2,583,412	$235,220	4.8%	$28.75	+221.0%	ORD	G0450A105
EXPD	EXPEDITORS INTL WASH INC	1,856,558	$212,112	4.3%	$63.56	+74.4%	COM	302130109
DIS	DISNEY WALT CO	1,574,766	$195,287	4.0%	$83.72	+22.8%	COM	254687106
NVR	NVR INC	23,912	$176,606	3.6%	$3313.16	+116.3%	COM	62944T105
FAST	FASTENAL CO	3,966,125	$166,577	3.4%	$27.56	+45.5%	COM	311900104
STRA	STRATEGIC ED INC	1,810,104	$154,094	3.1%	$80.63	+3.4%	COM	86272C103
TJX	TJX COS INC NEW	1,068,130	$131,903	2.7%	$61.72	+103.9%	COM	872540109
BIL	SPDR SERIES TRUST	139,663	$12,811	0.3%	$91.70	—	BLOOMBERG 1-3 MO	78468R663
VGSH	VANGUARD SCOTTSDALE FDS	17,638	$1,037	0.0%	$61.25	—	SHORT TERM TREAS	92206C102