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MARSHFIELD ASSOCIATES

Q4 2025 · Filed 2026-02-17
Market Value
$5.7B
-1.3%
Holdings
17
-2
New Purchases
0
Added To
14
Closed
0
Reduced
3
Top 10 Concentration
75.4%
Turnover
0.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PGR 10.08% 6.74% +3.34% $575M
EXPD 5.36% 4.12% +1.24% $306M
MCO 5.05% 4.43% +0.62% $288M
ACGL 4.85% 4.28% +0.58% $277M
V 6.33% 5.81% +0.52% $361M
MA 6.27% 5.84% +0.43% $358M
TJX 3.15% 2.80% +0.35% $180M
DPZ 5.74% 5.56% +0.17% $327M
DIS 3.38% 3.24% +0.14% $193M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AZO 10.40% 12.79% -2.40% $593M
ROST 8.57% 10.60% -2.03% $489M
CMI 6.83% 8.07% -1.24% $390M
ORLY 6.25% 7.05% -0.80% $356M
FAST 2.64% 3.18% -0.54% $150M
STRA 2.08% 2.36% -0.28% $119M
NVR 3.43% 3.48% -0.05% $196M
UNH 9.60% 9.64% -0.04% $547M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $1.3B 22.2%
Large Cap 13 $4.3B 75.7%
Small Cap 1 $119M 2.1%

Portfolio Analytics

Avg Market Cap
$141.3B
Median Market Cap
$76.0B
Avg P/E
24.1
Median P/E
28.3
Avg Dividend Yield
0.01%
Avg Beta
0.80
# Stocks
17
# ETFs / Funds
0

Top Holdings (17 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AZO 10.40% 174,918 $593M $3,391.50 -$146M +2,586 +1.5%
2 PGR 10.08% 2,525,734 $575M $227.72 $186M +948,281 +60.1%
3 UNH 9.60% 1,658,487 $547M $330.11 -$10M +45,239 +2.8%
4 ROST 8.57% 2,714,339 $489M $180.14 -$124M -1,306,074 -32.5%
5 CMI 6.83% 763,648 $390M $510.45 -$77M -340,904 -30.9%
6 V 6.33% 1,029,034 $361M $350.71 $25M +46,241 +4.7%
7 MA 6.27% 626,682 $358M $570.88 $20M +32,969 +5.5%
8 ORLY 6.25% 3,906,644 $356M $91.21 -$51M +128,198 +3.4%
9 DPZ 5.74% 784,992 $327M $416.82 $6M +40,477 +5.4%
10 EXPD 5.36% 2,052,531 $306M $149.01 $68M +109,791 +5.7%
11 MCO 5.05% 563,557 $288M $510.85 $32M +26,429 +4.9%
12 ACGL 4.85% 2,887,002 $277M $95.92 $30M +162,367 +6.0%
13 NVR 3.43% 26,855 $196M $7,292.91 -$5M +1,813 +7.2%
14 DIS 3.38% 1,695,189 $193M $113.77 $6M +60,316 +3.7%
15 TJX 3.15% 1,168,859 $180M $153.61 $18M +50,222 +4.5%
16 FAST 2.64% 3,749,595 $150M $40.13 -$33M +101
17 STRA 2.08% 1,478,522 $119M $80.20 -$18M -107,066 -6.8%
View SEC EDGAR Filings for MARSHFIELD ASSOCIATES →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms