Filed: 11/14/2023ACC: 0000950123-23-010819
📋 What this filing means
MARSHFIELD ASSOCIATES filed this quarterly 13F‑HR report disclosing 22 equity positions with a total reported market value of $4.04B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
22
Positions
$4.04B
Total AUM (reported)
26.53M
Total Shares
Allocation by class
COM$4.04B99.9%
BLOOMBERG 1-3 MO$2.95M0.1%
SHORT TERM TREAS$1.90M0.0%
FLOATING RAT TREA$329.1K0.0%
Portfolio Concentration
Top 3$1.22B30.2%
4–10$1.61B39.9%
11–25$1.21B30.0%
Top 3 weight
30.2%
Top 10 weight
70.0%
Voting Authority Distribution
Total shares with voting rights: 26.53M
Sole
Full voting authority
21.44M
shares
% of voting shares80.8%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
5.09M
shares
% of voting shares19.2%
Investment Discretion (by position count)
Sole22
Shared0
Other0
Dominant voting typeSole · 80.8% of voting shares
Institutional Holdings22
Rows:
Arch Capital Group Ltd
SOLEShares5.65M
TypeSH
Market value$450.62M
11.14%
Sole
4.56M
Shared
0.00
None
1.10M
Ross Stores Inc
SOLEShares3.46M
TypeSH
Market value$391.10M
9.67%
Sole
2.83M
Shared
0.00
None
629.01K
AutoZone Inc.
SOLEShares148.61K
TypeSH
Market value$377.48M
9.34%
Sole
116.15K
Shared
0.00
None
32.46K
TJX Companies Inc
SOLEShares3.16M
TypeSH
Market value$280.43M
6.94%
Sole
2.56M
Shared
0.00
None
597.46K
Goldman Sachs Group Inc
SOLEShares813.42K
TypeSH
Market value$263.20M
6.51%
Sole
658.37K
Shared
0.00
None
155.05K
O'Reilly Automotive Inc
SOLEShares263.73K
TypeSH
Market value$239.70M
5.93%
Sole
203.35K
Shared
0.00
None
60.38K
Domino's Pizza Inc
SOLEShares632.76K
TypeSH
Market value$239.68M
5.93%
Sole
525.37K
Shared
0.00
None
107.39K
Cummins Inc
SOLEShares918.23K
TypeSH
Market value$209.78M
5.19%
Sole
721.33K
Shared
0.00
None
196.90K
Mastercard Inc Class A
SOLEShares482.76K
TypeSH
Market value$191.13M
4.73%
Sole
363.05K
Shared
0.00
None
119.71K
Visa Inc Cl A
SOLEShares819.05K
TypeSH
Market value$188.39M
4.66%
Sole
642.56K
Shared
0.00
None
176.49K
Expeditors International of Wa
SOLEShares1.60M
TypeSH
Market value$183.97M
4.55%
Sole
1.28M
Shared
0.00
None
321.15K
NVR Inc
SOLEShares29.15K
TypeSH
Market value$173.82M
4.30%
Sole
23.67K
Shared
0.00
None
5.48K
Progressive Corp
SOLEShares1.14M
TypeSH
Market value$158.82M
3.93%
Sole
918.37K
Shared
0.00
None
221.76K
Strategic Education Inc
SOLEShares2.05M
TypeSH
Market value$154.01M
3.81%
Sole
1.67M
Shared
0.00
None
372.23K
Moody's Corp.
SOLEShares458.39K
TypeSH
Market value$144.93M
3.58%
Sole
372.14K
Shared
0.00
None
86.25K
Discover Financial Services
SOLEShares1.36M
TypeSH
Market value$117.72M
2.91%
Sole
1.15M
Shared
0.00
None
210.69K
Disney (Walt) Company
SOLEShares1.41M
TypeSH
Market value$114.59M
2.83%
Sole
1.20M
Shared
0.00
None
213.85K
Fastenal Co
SOLEShares1.75M
TypeSH
Market value$95.41M
2.36%
Sole
1.33M
Shared
0.00
None
417.65K
Union Pacific Corporation
SOLEShares311.07K
TypeSH
Market value$63.34M
1.57%
Sole
240.40K
Shared
0.00
None
70.68K
SPDR Ser Tr
SOLEShares32.16K
TypeSH
Market value$2.95M
0.07%
Sole
32.16K
Shared
0.00
None
0.00
Vanguard Scottsdale Fds
SOLEShares33.03K
TypeSH
Market value$1.90M
0.05%
Sole
33.03K
Shared
0.00
None
0.00
Wisdomtree Tr
SOLEShares6.54K
TypeSH
Market value$329.1K
<0.01%
Sole
6.54K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
Arch Capital Group LtdSOLE | COM | 5.65M | SH | $450.62M 11.14% | 4.56M | 0.00 | 1.10M |
Ross Stores IncSOLE | COM | 3.46M | SH | $391.10M 9.67% | 2.83M | 0.00 | 629.01K |
AutoZone Inc.SOLE | COM | 148.61K | SH | $377.48M 9.34% | 116.15K | 0.00 | 32.46K |
TJX Companies IncSOLE | COM | 3.16M | SH | $280.43M 6.94% | 2.56M | 0.00 | 597.46K |
Goldman Sachs Group IncSOLE | COM | 813.42K | SH | $263.20M 6.51% | 658.37K | 0.00 | 155.05K |
O'Reilly Automotive IncSOLE | COM | 263.73K | SH | $239.70M 5.93% | 203.35K | 0.00 | 60.38K |
Domino's Pizza IncSOLE | COM | 632.76K | SH | $239.68M 5.93% | 525.37K | 0.00 | 107.39K |
Cummins IncSOLE | COM | 918.23K | SH | $209.78M 5.19% | 721.33K | 0.00 | 196.90K |
Mastercard Inc Class ASOLE | COM | 482.76K | SH | $191.13M 4.73% | 363.05K | 0.00 | 119.71K |
Visa Inc Cl ASOLE | COM | 819.05K | SH | $188.39M 4.66% | 642.56K | 0.00 | 176.49K |
Expeditors International of WaSOLE | COM | 1.60M | SH | $183.97M 4.55% | 1.28M | 0.00 | 321.15K |
NVR IncSOLE | COM | 29.15K | SH | $173.82M 4.30% | 23.67K | 0.00 | 5.48K |
Progressive CorpSOLE | COM | 1.14M | SH | $158.82M 3.93% | 918.37K | 0.00 | 221.76K |
Strategic Education IncSOLE | COM | 2.05M | SH | $154.01M 3.81% | 1.67M | 0.00 | 372.23K |
Moody's Corp.SOLE | COM | 458.39K | SH | $144.93M 3.58% | 372.14K | 0.00 | 86.25K |
Discover Financial ServicesSOLE | COM | 1.36M | SH | $117.72M 2.91% | 1.15M | 0.00 | 210.69K |
Disney (Walt) CompanySOLE | COM | 1.41M | SH | $114.59M 2.83% | 1.20M | 0.00 | 213.85K |
Fastenal CoSOLE | COM | 1.75M | SH | $95.41M 2.36% | 1.33M | 0.00 | 417.65K |
Union Pacific CorporationSOLE | COM | 311.07K | SH | $63.34M 1.57% | 240.40K | 0.00 | 70.68K |
SPDR Ser TrSOLE | Bloomberg 1-3 Mo | 32.16K | SH | $2.95M 0.07% | 32.16K | 0.00 | 0.00 |
Vanguard Scottsdale FdsSOLE | Short Term Treas | 33.03K | SH | $1.90M 0.05% | 33.03K | 0.00 | 0.00 |
Wisdomtree TrSOLE | Floating Rat Trea | 6.54K | SH | $329.1K <0.01% | 6.54K | 0.00 | 0.00 |