Norman Fields, Gottscho Capital Management, LLC Diversified Active

Period: Q4 2025 (← Previous)

Filing Date: Jan 7, 2026

Total Value ($000): $310,286 (100.0% shares, 0.0% debt)

Holdings (61)

New Positions (1)

Value ($000) $1,699 Shares 28,957 Est. Cost $55.77 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CAVA	Cava Group, Inc.	28,957	$1,699	0.5%	$55.77	0.0%	COM	148929102

Increased Positions (3)

UNP Union Pacific Corp 2.8%

Value ($000) $8,746 (+102869.3%) Shares 37,810 (+5.2%) Est. Cost $77.18 Unrealized +194.5%

FFXDF Fairfax India Holdings Corpora 0.7%

Value ($000) $2,236 (+153886.8%) Shares 127,765 (+51.5%) Est. Cost $17.97 Unrealized -6.4%

POOL Pool Corporation 0.1%

Value ($000) $409 (+94252.9%) Shares 1,786 (+28.0%) Est. Cost $299.96 Unrealized -13.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UNP	Union Pacific Corp	37,810 (+5.2%)	$8,746 (+102869.3%)	2.8%	$77.18	+194.5%	COM	907818108
FFXDF	Fairfax India Holdings Corpora	127,765 (+51.5%)	$2,236 (+153886.8%)	0.7%	$17.97	-6.4%	COM	303897102
POOL	Pool Corporation	1,786 (+28.0%)	$409 (+94252.9%)	0.1%	$299.96	-13.5%	COM	73278L105

Exited Positions (4)

CCC CCC Intelligent Solutions Hold 0.0%

Value ($000) $1 Shares 73,825 Est. Cost $9.67 Unrealized -15.9%

— Alcon Inc. 0.0%

Value ($000) $0 Shares 3,609 Est. Cost $58.60 Unrealized —

— Duke Energy Corp 0.0%

Value ($000) $0 Shares 1,774 Est. Cost $0.12 Unrealized —

ECL Ecolab Inc 0.0%

Value ($000) $0 Shares 756 Est. Cost $252.35 Unrealized +5.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CCC	CCC Intelligent Solutions Hold	73,825	$1	0.0%	$9.67	-15.9%	—	12510Q100
—	Alcon Inc.	3,609	$0	0.0%	$58.60	—	—	h01301128
—	Duke Energy Corp	1,774	$0	0.0%	$0.12	—	—	26441c204
ECL	Ecolab Inc	756	$0	0.0%	$252.35	+5.3%	—	278865100

Decreased Positions (28)

BRK/B Berkshire Hathaway B 16.2%

Value ($000) $50,313 (+93807.4%) Shares 100,095 (-6.1%) Est. Cost $143.20 Unrealized +247.4%

— Costco Whsl Corp 15.9%

Value ($000) $49,324 (+91926.1%) Shares 57,198 (-1.2%) Est. Cost $346.08 Unrealized —

— Visa Inc. Class A 10.5%

Value ($000) $32,494 (+100164.2%) Shares 92,651 (-2.4%) Est. Cost $211.19 Unrealized —

AAPL Apple Inc. 10.1%

Value ($000) $31,458 (+102741.8%) Shares 115,715 (-3.7%) Est. Cost $87.64 Unrealized +206.2%

AXP American Express Company 4.0%

Value ($000) $12,443 (+106920.4%) Shares 33,635 (-3.9%) Est. Cost $58.88 Unrealized +506.2%

— Liberty Media Corp - Formula O 3.4%

Value ($000) $10,671 (+92454.1%) Shares 108,329 (-1.9%) Est. Cost $44.04 Unrealized —

— Alphabet Inc. Class A 2.7%

Value ($000) $8,241 (+124259.3%) Shares 26,330 (-3.4%) Est. Cost $189.48 Unrealized —

ONON On Holdings 2.3%

Value ($000) $7,199 (+100378.5%) Shares 154,890 (-8.5%) Est. Cost $27.96 Unrealized +54.1%

PKG Packaging Corp of America 2.3%

Value ($000) $7,074 (+91926.8%) Shares 34,302 (-2.8%) Est. Cost $82.30 Unrealized +145.9%

— Atlanta Braves Holdings, Inc. 2.0%

Value ($000) $6,168 (+72622.1%) Shares 156,357 (-23.3%) Est. Cost $9.11 Unrealized —

— Vaneck Vectors Gold Miners ETF 1.5%

Value ($000) $4,579 (+110794.4%) Shares 53,385 (-1.2%) Est. Cost $0.05 Unrealized —

MU Micron Technology Inc. 1.1%

Value ($000) $3,408 (+162563.3%) Shares 11,940 (-4.6%) Est. Cost $67.40 Unrealized +240.3%

FERG Ferguson Enterprises Inc. 1.1%

Value ($000) $3,289 (+97697.0%) Shares 14,773 (-1.3%) Est. Cost $170.60 Unrealized +39.5%

RTX RTX Corp 1.0%

Value ($000) $3,186 (+101049.5%) Shares 17,373 (-7.7%) Est. Cost $88.93 Unrealized +94.9%

NVO Novo-Nordisk A-S Adr 0.6%

Value ($000) $1,879 (+74924.1%) Shares 36,937 (-18.2%) Est. Cost $17.38 Unrealized —

GHC Graham Holdings Co. Class B 0.5%

Value ($000) $1,548 (+81887.7%) Shares 1,409 (-12.2%) Est. Cost $613.92 Unrealized +73.8%

LHX L3Harris Technologies Inc. 0.5%

Value ($000) $1,521 (+92455.9%) Shares 5,180 (-3.7%) Est. Cost $179.67 Unrealized +60.5%

SBUX Starbucks Corp 0.5%

Value ($000) $1,475 (+86895.5%) Shares 17,521 (-12.6%) Est. Cost $34.62 Unrealized +142.8%

— Agilent Technologies 0.5%

Value ($000) $1,457 (+96621.7%) Shares 10,705 (-8.8%) Est. Cost $127.14 Unrealized —

— Chubb Corp 0.3%

Value ($000) $1,057 (+108325.6%) Shares 3,387 (-1.9%) Est. Cost $0.30 Unrealized —

NOC Northrop Grumman Corp 0.3%

Value ($000) $972 (+68948.9%) Shares 1,705 (-26.2%) Est. Cost $278.19 Unrealized +108.1%

NSC Norfolk Southern Corp 0.3%

Value ($000) $909 (+92608.3%) Shares 3,150 (-3.5%) Est. Cost $57.18 Unrealized +404.7%

LMT Lockheed Martin Corp 0.2%

Value ($000) $763 (+91247.1%) Shares 1,577 (-5.7%) Est. Cost $319.03 Unrealized +49.3%

AMRZ Amrize Ltd 0.2%

Value ($000) $527 (+106743.6%) Shares 9,740 (-4.1%) Est. Cost $50.56 Unrealized +0.9%

UHAL/B U Haul Holding 0.1%

Value ($000) $422 (+75000.0%) Shares 9,030 (-18.2%) Est. Cost $57.91 Unrealized -15.9%

ABNB Airbnb, Inc. 0.1%

Value ($000) $413 (+109811.4%) Shares 3,045 (-1.6%) Est. Cost $130.88 Unrealized -4.9%

EPD Enterprise Prd Prtnrs LP 0.1%

Value ($000) $343 (+87552.4%) Shares 10,690 (-14.4%) Est. Cost $43.29 Unrealized —

— Spectrum Brands Holdings Inc. 0.1%

Value ($000) $257 (+94449.6%) Shares 4,353 (-15.9%) Est. Cost $81.42 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	Berkshire Hathaway B	100,095 (-6.1%)	$50,313 (+93807.4%)	16.2%	$143.20	+247.4%	COM	084670702
—	Costco Whsl Corp	57,198 (-1.2%)	$49,324 (+91926.1%)	15.9%	$346.08	—	COM	22160k105
—	Visa Inc. Class A	92,651 (-2.4%)	$32,494 (+100164.2%)	10.5%	$211.19	—	COM	92826c839
AAPL	Apple Inc.	115,715 (-3.7%)	$31,458 (+102741.8%)	10.1%	$87.64	+206.2%	COM	037833100
AXP	American Express Company	33,635 (-3.9%)	$12,443 (+106920.4%)	4.0%	$58.88	+506.2%	COM	025816109
—	Liberty Media Corp - Formula O	108,329 (-1.9%)	$10,671 (+92454.1%)	3.4%	$44.04	—	COM	531229854
—	Alphabet Inc. Class A	26,330 (-3.4%)	$8,241 (+124259.3%)	2.7%	$189.48	—	COM	02079k305
ONON	On Holdings	154,890 (-8.5%)	$7,199 (+100378.5%)	2.3%	$27.96	+54.1%	COM	H5919C104
PKG	Packaging Corp of America	34,302 (-2.8%)	$7,074 (+91926.8%)	2.3%	$82.30	+145.9%	COM	695156109
—	Atlanta Braves Holdings, Inc.	156,357 (-23.3%)	$6,168 (+72622.1%)	2.0%	$9.11	—	COM	531229888
—	Vaneck Vectors Gold Miners ETF	53,385 (-1.2%)	$4,579 (+110794.4%)	1.5%	$0.05	—	COM	57060u100
MU	Micron Technology Inc.	11,940 (-4.6%)	$3,408 (+162563.3%)	1.1%	$67.40	+240.3%	COM	595112103
FERG	Ferguson Enterprises Inc.	14,773 (-1.3%)	$3,289 (+97697.0%)	1.1%	$170.60	+39.5%	COM	31488V107
RTX	RTX Corp	17,373 (-7.7%)	$3,186 (+101049.5%)	1.0%	$88.93	+94.9%	COM	75513E101
NVO	Novo-Nordisk A-S Adr	36,937 (-18.2%)	$1,879 (+74924.1%)	0.6%	$17.38	—	COM	670100205
GHC	Graham Holdings Co. Class B	1,409 (-12.2%)	$1,548 (+81887.7%)	0.5%	$613.92	+73.8%	COM	384637104
LHX	L3Harris Technologies Inc.	5,180 (-3.7%)	$1,521 (+92455.9%)	0.5%	$179.67	+60.5%	COM	502431109
SBUX	Starbucks Corp	17,521 (-12.6%)	$1,475 (+86895.5%)	0.5%	$34.62	+142.8%	COM	855244109
—	Agilent Technologies	10,705 (-8.8%)	$1,457 (+96621.7%)	0.5%	$127.14	—	COM	00846u101
—	Chubb Corp	3,387 (-1.9%)	$1,057 (+108325.6%)	0.3%	$0.30	—	COM	171232101
NOC	Northrop Grumman Corp	1,705 (-26.2%)	$972 (+68948.9%)	0.3%	$278.19	+108.1%	COM	666807102
NSC	Norfolk Southern Corp	3,150 (-3.5%)	$909 (+92608.3%)	0.3%	$57.18	+404.7%	COM	655844108
LMT	Lockheed Martin Corp	1,577 (-5.7%)	$763 (+91247.1%)	0.2%	$319.03	+49.3%	COM	539830109
AMRZ	Amrize Ltd	9,740 (-4.1%)	$527 (+106743.6%)	0.2%	$50.56	+0.9%	COM	H2927K103
UHAL/B	U Haul Holding	9,030 (-18.2%)	$422 (+75000.0%)	0.1%	$57.91	-15.9%	COM	023586506
ABNB	Airbnb, Inc.	3,045 (-1.6%)	$413 (+109811.4%)	0.1%	$130.88	-4.9%	COM	009066101
EPD	Enterprise Prd Prtnrs LP	10,690 (-14.4%)	$343 (+87552.4%)	0.1%	$43.29	—	COM	293792107
—	Spectrum Brands Holdings Inc.	4,353 (-15.9%)	$257 (+94449.6%)	0.1%	$81.42	—	COM	84790a105

Unchanged Positions (29)

— Alphabet Inc. Class C 3.4%

Value ($000) $10,487 Shares 33,419 Est. Cost $189.42 Unrealized —

— Mastercard Inc. 3.2%

Value ($000) $9,889 Shares 17,323 Est. Cost $121.47 Unrealized —

AMZN Amazon.com Inc. 3.1%

Value ($000) $9,632 Shares 41,729 Est. Cost $125.60 Unrealized +82.2%

— Wesco International, Inc. 1.1%

Value ($000) $3,367 Shares 13,763 Est. Cost $0.20 Unrealized —

GDXJ Vaneck Junior Gold Miners 1.0%

Value ($000) $3,216 Shares 28,266 Est. Cost $0.06 Unrealized —

— Spdr Gold Tr Gold Shs 0.6%

Value ($000) $1,932 Shares 4,876 Est. Cost $0.29 Unrealized —

MSFT Microsoft Corp 0.6%

Value ($000) $1,743 Shares 3,604 Est. Cost $197.11 Unrealized +154.0%

LLY Lilly Eli & Company 0.5%

Value ($000) $1,591 Shares 1,480 Est. Cost $137.54 Unrealized +594.8%

TER Teradyne Inc. 0.4%

Value ($000) $1,127 Shares 5,825 Est. Cost $36.20 Unrealized +373.8%

DE Deere & Co 0.4%

Value ($000) $1,094 Shares 2,350 Est. Cost $69.50 Unrealized +573.0%

— D R Horton Inc. 0.4%

Value ($000) $1,091 Shares 7,575 Est. Cost $86.85 Unrealized —

ABT Abbott Laboratories 0.3%

Value ($000) $937 Shares 7,478 Est. Cost $34.24 Unrealized +271.8%

EADSF Airbus 0.3%

Value ($000) $896 Shares 3,845 Est. Cost $178.21 Unrealized +32.2%

— Abbvie Inc. 0.3%

Value ($000) $816 Shares 3,573 Est. Cost $40.80 Unrealized —

EFX Equifax Inc 0.3%

Value ($000) $781 Shares 3,600 Est. Cost $121.49 Unrealized +80.0%

JNJ Johnson & Johnson 0.2%

Value ($000) $643 Shares 3,106 Est. Cost $78.54 Unrealized +150.8%

MGRC McGrath RentCorp 0.2%

Value ($000) $582 Shares 5,550 Est. Cost $32.36 Unrealized +235.0%

MKL Markel Group Inc. 0.2%

Value ($000) $537 Shares 250 Est. Cost $1308.70 Unrealized +54.8%

NVDA Nvidia Corp 0.2%

Value ($000) $535 Shares 2,870 Est. Cost $102.57 Unrealized +81.5%

KEX Kirby Corporation 0.1%

Value ($000) $441 Shares 4,000 Est. Cost $55.90 Unrealized +81.9%

OHI Omega Healthcare Inv 0.1%

Value ($000) $399 Shares 9,000 Est. Cost $27.00 Unrealized —

LEN Lennar Corp Cl A 0.1%

Value ($000) $371 Shares 3,607 Est. Cost $47.29 Unrealized +155.3%

HOLX Hologic Inc 0.1%

Value ($000) $343 Shares 4,600 Est. Cost $49.07 Unrealized +48.9%

— Xylem Inc. 0.1%

Value ($000) $317 Shares 2,330 Est. Cost $87.55 Unrealized —

ADP Automatic Data Processing 0.1%

Value ($000) $292 Shares 1,136 Est. Cost $147.45 Unrealized +79.6%

— General Electric Company 0.1%

Value ($000) $290 Shares 940 Est. Cost $0.26 Unrealized —

CVX Chevron Corporation 0.1%

Value ($000) $235 Shares 1,540 Est. Cost $137.00 Unrealized +10.5%

BK Bank Of NY Mellon Co 0.1%

Value ($000) $219 Shares 1,886 Est. Cost $101.35 Unrealized +9.0%

— G C I Liberty Inc. pending 0.0%

Value ($000) $0 Shares 12,350 Est. Cost $0.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Alphabet Inc. Class C	33,419	$10,487	3.4%	$189.42	—	COM	02079k107
—	Mastercard Inc.	17,323	$9,889	3.2%	$121.47	—	COM	57636q104
AMZN	Amazon.com Inc.	41,729	$9,632	3.1%	$125.60	+82.2%	COM	023135106
—	Wesco International, Inc.	13,763	$3,367	1.1%	$0.20	—	COM	95082p105
GDXJ	Vaneck Junior Gold Miners	28,266	$3,216	1.0%	$0.06	—	COM	92189F791
—	Spdr Gold Tr Gold Shs	4,876	$1,932	0.6%	$0.29	—	COM	78463v107
MSFT	Microsoft Corp	3,604	$1,743	0.6%	$197.11	+154.0%	COM	594918104
LLY	Lilly Eli & Company	1,480	$1,591	0.5%	$137.54	+594.8%	COM	532457108
TER	Teradyne Inc.	5,825	$1,127	0.4%	$36.20	+373.8%	COM	880770102
DE	Deere & Co	2,350	$1,094	0.4%	$69.50	+573.0%	COM	244199105
—	D R Horton Inc.	7,575	$1,091	0.4%	$86.85	—	COM	23331a109
ABT	Abbott Laboratories	7,478	$937	0.3%	$34.24	+271.8%	COM	002824100
EADSF	Airbus	3,845	$896	0.3%	$178.21	+32.2%	COM	N0280G100
—	Abbvie Inc.	3,573	$816	0.3%	$40.80	—	COM	00287y109
EFX	Equifax Inc	3,600	$781	0.3%	$121.49	+80.0%	COM	294429105
JNJ	Johnson & Johnson	3,106	$643	0.2%	$78.54	+150.8%	COM	478160104
MGRC	McGrath RentCorp	5,550	$582	0.2%	$32.36	+235.0%	COM	580589109
MKL	Markel Group Inc.	250	$537	0.2%	$1308.70	+54.8%	COM	570535104
NVDA	Nvidia Corp	2,870	$535	0.2%	$102.57	+81.5%	COM	67066G104
KEX	Kirby Corporation	4,000	$441	0.1%	$55.90	+81.9%	COM	497266106
OHI	Omega Healthcare Inv	9,000	$399	0.1%	$27.00	—	COM	681936100
LEN	Lennar Corp Cl A	3,607	$371	0.1%	$47.29	+155.3%	COM	526057104
HOLX	Hologic Inc	4,600	$343	0.1%	$49.07	+48.9%	COM	436440101
—	Xylem Inc.	2,330	$317	0.1%	$87.55	—	COM	98419m100
ADP	Automatic Data Processing	1,136	$292	0.1%	$147.45	+79.6%	COM	053015103
—	General Electric Company	940	$290	0.1%	$0.26	—	COM	369604103
CVX	Chevron Corporation	1,540	$235	0.1%	$137.00	+10.5%	COM	166764100
BK	Bank Of NY Mellon Co	1,886	$219	0.1%	$101.35	+9.0%	COM	064058100
—	G C I Liberty Inc. pending	12,350	$0	0.0%	$0.00	—	COM	361esc049