Marshfield Associates
- SEC CIK
- 0000914976
- Latest filing
- Aug 14, 2026
Holdings in Q3 2025
Holdings as of Sep 30, 2025, filed Nov 14, 2025. Long positions only; changes compare share counts with Q2 2025.
- Positions
- 17
- −2 vs. Q2 2025
- Portfolio value
- $5.78B
- +$886.7M (+18.1%) vs. Q2 2025
| Security | Class | Shares | Value | % of portfolio | Share change | Action | History |
|---|---|---|---|---|---|---|---|
| AZOAutoZone Inc | COM | 172,332 | $739.3M | 12.8% | +5,293+3.2% | Added | History |
| ROSTRoss Stores, Inc. | COM | 4,020,413 | $612.7M | 10.6% | +157,385+4.1% | Added | History |
| UNHUnitedHealth Group Inc | Stock | 1,613,248 | $557.1M | 9.6% | +594,960+58.4% | Added | History |
| CMICummins Inc | Stock | 1,104,552 | $466.5M | 8.1% | +48,493+4.6% | Added | History |
| ORLYO Reilly Automotive Inc | Stock | 3,778,446 | $407.4M | 7.0% | −77,511−2.0% | Reduced | History |
| PGRProgressive Corp | Stock | 1,577,453 | $389.6M | 6.7% | +653,763+70.8% | Added | History |
| MAMastercard Inc | Stock | 593,713 | $337.7M | 5.8% | +27,271+4.8% | Added | History |
| VVisa Inc. | Stock | 982,793 | $335.5M | 5.8% | +35,616+3.8% | Added | History |
| DPZDominos Pizza Inc | COM | 744,515 | $321.4M | 5.6% | +28,765+4.0% | Added | History |
| MCOMoodys Corp | Stock | 537,128 | $255.9M | 4.4% | +21,114+4.1% | Added | History |
| ACGLArch Capital Group Ltd. | Stock | 2,724,635 | $247.2M | 4.3% | +141,223+5.5% | Added | History |
| EXPDExpeditors International of Washington Inc | COM | 1,942,740 | $238.2M | 4.1% | +86,182+4.6% | Added | History |
| NVRNVR Inc | COM | 25,042 | $201.2M | 3.5% | +1,130+4.7% | Added | History |
| DISWalt Disney Co | Stock | 1,634,873 | $187.2M | 3.2% | +60,107+3.8% | Added | History |
| FASTFastenal Co | Stock | 3,749,494 | $183.9M | 3.2% | −216,631−5.5% | Reduced | History |
| TJXTJX Companies Inc | Stock | 1,118,637 | $161.7M | 2.8% | +50,507+4.7% | Added | History |
| STRAStrategic Education, Inc. | COM | 1,585,588 | $136.4M | 2.4% | −224,516−12.4% | Reduced | History |
Sold out since Q2 2025 (2)
Positions held at the end of Q2 2025 that are gone from this filing.
| Security | Class | Shares in Q2 2025 | Value in Q2 2025 | % of portfolio in Q2 2025 | History |
|---|---|---|---|---|---|
| State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663 | ETF | 139,663 | $12.8M | 0.3% | – |
| Vanguard Scottsdale FDS92206C102 | SHORT TERM TREAS | 17,638 | $1.04M | <0.1% | – |