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Livermore
Livermore
ZHEN

Norman Fields, Gottscho Capital Management, LLC

SEC CIK
0001352449
Latest filing
Jul 8, 2026

The latest 13F from Norman Fields, Gottscho Capital Management, LLC covers Q2 2026 (filed Jul 8, 2026): 64 long positions worth $330.1M. The top 10 holdings make up 70.6% of the portfolio, and the largest is Costco Wholesale Corp (COST) at 16.2%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
1
Est. +$235.3K
Added
10
Est. +$1.20M
Reduced
19
Est. −$3.16M
Sold out
2
Est. −$773.4K

Top 5 holdings

Share of this quarter's portfolio value

  1. COSTCostco Wholesale Corp
    16.2%$53.5MHistory
  2. BRK.BBerkshire Hathaway Inc
    14.6%$48.3MHistory
  3. AAPLApple Inc.
    9.7%$32.1MHistory
  4. VVisa Inc.
    9.6%$31.7MHistory
  5. MUMicron Technology Inc
    4.2%$13.9MHistory

Share of portfolio

Top 5 holdings and the other 59 positions, by share of portfolio value

  1. COST16.2%
  2. BRK.B14.6%
  3. AAPL9.7%
  4. V9.6%
  5. MU4.2%
  6. Other 59 positions45.6%

Biggest buys

New and added positions, by estimated amount bought

  1. SLBSLB Limited
    +$450.3KAddedHistory
  2. SPRYARS Pharmaceuticals, Inc.
    +$250.2KAddedHistory
  3. XYLXylem Inc.
    +$241.1KAddedHistory
  4. CPCanadian Pacific Kansas City Ltd
    +$235.3KNewHistory
  5. DUKDuke Energy CORP
    +$88.6KAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. SLBSLB Limited
    +0.12 pp0.1% → 0.2%History
  2. UNPUnion Pacific Corp
    +0.09 pp3.1% → 3.1%History
  3. CPCanadian Pacific Kansas City Ltd
    +0.07 pp0.0% → 0.1%History
  4. SPRYARS Pharmaceuticals, Inc.
    +0.07 pp0.1% → 0.2%History
  5. XYLXylem Inc.
    +0.06 pp0.1% → 0.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BRK.BBerkshire Hathaway Inc
    −$986.3KReducedHistory
  2. POOLPool Corp
    −$441.3KSold outHistory
  3. MUMicron Technology Inc
    −$424.8KReducedHistory
  4. FWONKLiberty Media Corp
    −$394.8KReducedHistory
  5. ONONOn Holding AG
    −$351.9KReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. BRK.BBerkshire Hathaway Inc
    −0.97 pp15.6% → 14.6%History
  2. ONONOn Holding AG
    −0.18 pp1.7% → 1.5%History
  3. POOLPool Corp
    −0.15 pp0.1% → 0.0%History
  4. RTXRTX Corp
    −0.13 pp1.1% → 1.0%History
  5. CHWYChewy, Inc.
    −0.11 pp0.1% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$330.1M
+$27.6M (+9.1%) vs. prior quarter
Positions
64
−1 vs. prior quarter
Top 10 concentration
70.6%
Top 10 as share of value
Turnover
0.5%
Q2 2026, one quarter
Average holding period
20.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $330.1M (Q2 2026)

Q1 2021: $229.8MQ2 2021: $250.4MQ3 2021: $253.3MQ4 2021: $269.7MQ1 2022: $266.6MQ2 2022: $218.7MQ3 2022: $207.4MQ4 2022: $217.2MQ1 2023: $226.4MQ2 2023: $237.8MQ3 2023: $230.4MQ4 2023: $250.8MQ1 2024: $268.4MQ2 2024: $285.8MQ3 2024: $302.1MQ4 2024: $303.9MQ1 2025: $297.2MQ2 2025: $302.2MQ3 2025: $312.9MQ4 2025: $310.3MQ1 2026: $302.5MQ2 2026: $330.1M
Q1 2021Q2 2026
13F filings of Norman Fields, Gottscho Capital Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 8, 202664$330.1MCOSTBRK.BAAPLvs. Q1 2026SEC
Q1 2026Apr 2, 202665$302.5MCOSTBRK.BAAPLvs. Q4 2025SEC
Q4 2025Jan 7, 202661$310.3MBRK.BCOSTVvs. Q3 2025SEC
Q3 2025Oct 9, 202564$312.9MCOSTBRK.BVvs. Q2 2025SEC
Q2 2025Jul 9, 202564$302.2MCOSTBRK.BVvs. Q1 2025SEC
Q1 2025Apr 3, 202558$297.2MBRK.BCOSTVvs. Q4 2024SEC
Q4 2024Jan 7, 202558$303.9MCOSTBRK.BAAPLvs. Q3 2024SEC
Q3 2024Oct 1, 202461$302.1MCOSTBRK.BAAPLvs. Q2 2024SEC
Q2 2024Jul 11, 202457$285.8MCOSTBRK.BAAPLvs. Q1 2024SEC
Q1 2024Apr 5, 202458$268.4MBRK.BCOSTVvs. Q4 2023SEC
Q4 2023Jan 5, 202457$250.8MBRK.BCOSTAAPLvs. Q3 2023SEC
Q3 2023Oct 11, 202363$230.4MBRK.BCOSTAAPLvs. Q2 2023SEC
Q2 2023Jul 7, 202362$237.8MBRK.BCOSTAAPLvs. Q1 2023SEC
Q1 2023Apr 10, 202365$226.4MBRK.BCOSTAAPLvs. Q4 2022SEC
Q4 2022Jan 4, 202371$217.2MBRK.BCOSTVvs. Q3 2022SEC
Q3 2022Oct 11, 202270$207.4MBRK.BCOSTAAPLvs. Q2 2022SEC
Q2 2022Jul 8, 202270$218.7MBRK.BCOSTAAPLvs. Q1 2022SEC
Q1 2022Apr 13, 202272$266.6MBRK.BCOSTAAPLvs. Q4 2021SEC
Q4 2021Jan 11, 202272$269.7MBRK.BCOSTAAPLvs. Q3 2021SEC
Q3 2021Oct 12, 202170$253.3MBRK.BCOSTAAPLvs. Q2 2021SEC
Q2 2021Jul 12, 202170$250.4MBRK.BCOSTVvs. Q1 2021SEC
Q1 2021Apr 13, 202169$229.8MBRK.BVCOST–SEC