MARSHFIELD ASSOCIATES Long-Term Concentrated

Location: Washington, DC

CIK: 0000914976 · Show all filings

Period: Q1 2026 (← Previous) (Next →)

Filing Date: May 15, 2026

Total Value: $4.993B (100.0% shares, 0.0% debt)

Holdings (17)

AZO AUTOZONE INC 11.2%

Value $557M Shares 165,033 Share Price $3377.79 Est. Cost/Share — Unrealized @ Report Date —

UNH UNITEDHEALTH GROUP INC 10.2%

Value $512M Shares 1,890,689 Share Price $270.59 Est. Cost/Share — Unrealized @ Report Date —

PGR PROGRESSIVE CORP 9.7%

Value $487M Shares 2,455,384 Share Price $198.24 Est. Cost/Share — Unrealized @ Report Date —

ROST ROSS STORES INC 7.9%

Value $394M Shares 1,818,806 Share Price $216.63 Est. Cost/Share — Unrealized @ Report Date —

V VISA INC 7.6%

Value $379M Shares 1,254,973 Share Price $302.24 Est. Cost/Share — Unrealized @ Report Date —

ORLY OREILLY AUTOMOTIVE INC 6.5%

Value $324M Shares 3,513,674 Share Price $92.31 Est. Cost/Share — Unrealized @ Report Date —

MA MASTERCARD INCORPORATED 6.0%

Value $300M Shares 600,154 Share Price $499.66 Est. Cost/Share — Unrealized @ Report Date —

ACGL ARCH CAP GROUP LTD 5.9%

Value $293M Shares 3,051,421 Share Price $95.99 Est. Cost/Share — Unrealized @ Report Date —

EXPD EXPEDITORS INTL WASH INC 5.6%

Value $280M Shares 1,953,005 Share Price $143.23 Est. Cost/Share — Unrealized @ Report Date —

DPZ DOMINOS PIZZA INC 5.4%

Value $271M Shares 755,140 Share Price $358.79 Est. Cost/Share — Unrealized @ Report Date —

CMI CUMMINS INC 4.8%

Value $241M Shares 448,781 Share Price $538.02 Est. Cost/Share — Unrealized @ Report Date —

MCO MOODYS CORP 4.7%

Value $235M Shares 538,993 Share Price $436.25 Est. Cost/Share — Unrealized @ Report Date —

TJX TJX COS INC NEW 3.5%

Value $174M Shares 1,091,160 Share Price $159.70 Est. Cost/Share — Unrealized @ Report Date —

NVR NVR INC 3.4%

Value $168M Shares 25,419 Share Price $6589.96 Est. Cost/Share — Unrealized @ Report Date —

DIS DISNEY WALT CO 3.2%

Value $158M Shares 1,642,724 Share Price $96.38 Est. Cost/Share — Unrealized @ Report Date —

FAST FASTENAL CO 3.1%

Value $154M Shares 3,309,287 Share Price $46.40 Est. Cost/Share — Unrealized @ Report Date —

STRA STRATEGIC ED INC 1.3%

Value $65.78M Shares 792,930 Share Price $82.96 Est. Cost/Share — Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AZO	AUTOZONE INC	165,033	$557M	11.2%	$3377.79	—	—	COM	053332102
UNH	UNITEDHEALTH GROUP INC	1,890,689	$512M	10.2%	$270.59	—	—	COM	91324P102
PGR	PROGRESSIVE CORP	2,455,384	$487M	9.7%	$198.24	—	—	COM	743315103
ROST	ROSS STORES INC	1,818,806	$394M	7.9%	$216.63	—	—	COM	778296103
V	VISA INC	1,254,973	$379M	7.6%	$302.24	—	—	COM CL A	92826C839
ORLY	OREILLY AUTOMOTIVE INC	3,513,674	$324M	6.5%	$92.31	—	—	COM	67103H107
MA	MASTERCARD INCORPORATED	600,154	$300M	6.0%	$499.66	—	—	CL A	57636Q104
ACGL	ARCH CAP GROUP LTD	3,051,421	$293M	5.9%	$95.99	—	—	ORD	G0450A105
EXPD	EXPEDITORS INTL WASH INC	1,953,005	$280M	5.6%	$143.23	—	—	COM	302130109
DPZ	DOMINOS PIZZA INC	755,140	$271M	5.4%	$358.79	—	—	COM	25754A201
CMI	CUMMINS INC	448,781	$241M	4.8%	$538.02	—	—	COM	231021106
MCO	MOODYS CORP	538,993	$235M	4.7%	$436.25	—	—	COM	615369105
TJX	TJX COS INC NEW	1,091,160	$174M	3.5%	$159.70	—	—	COM	872540109
NVR	NVR INC	25,419	$168M	3.4%	$6589.96	—	—	COM	62944T105
DIS	DISNEY WALT CO	1,642,724	$158M	3.2%	$96.38	—	—	COM	254687106
FAST	FASTENAL CO	3,309,287	$154M	3.1%	$46.40	—	—	COM	311900104
STRA	STRATEGIC ED INC	792,930	$65.78M	1.3%	$82.96	—	—	COM	86272C103