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MA

Marshfield Associates Portfolio holdings

AUM $4.99B
1-Year Est. Return 1.59%
This Fund
S&P 500
This Quarter Est. Return
+12.03%
1 Year Est. Return
+1.59%
3 Year Est. Return
+54.26%
5 Year Est. Return
+96.64%
10 Year Est. Return
+533.95%
AUM
$2.15B
AUM Growth
+$64M
Cap. Flow
-$150M
Cap. Flow %
-7.01%
Top 10 Hldgs %
79.06%
Holding
20
New
–
Increased
2
Reduced
17
Closed
1

Top Buys

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$725K
2
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$507K

Top Sells

Rank Stock Value
1
CMG icon
Chipotle Mexican Grill
CMG
+$80.2M
2
DE icon
Deere & Co
DE
+$8.37M
3
CMI icon
Cummins
CMI
+$8.05M
4
MCO icon
Moody's
MCO
+$7.67M
5
ACGL icon
Arch Capital
ACGL
+$6.81M

Sector Composition

Rank Sector Weight
1 Financials 40.14%
2 Industrials 30.69%
3 Consumer Discretionary 24.33%
4 Consumer Staples 3.78%
5 Healthcare 0.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DE icon
1
Deere & Co
DE
$169B
$202M 9.42%
751,396
-33,704
-4% -$8.37M
ACGL icon
2
Arch Capital
ACGL
$36.3B
$191M 8.9%
5,292,308
-207,421
-4% -$6.81M
CMI icon
3
Cummins
CMI
$91.3B
$185M 8.64%
816,218
-35,846
-4% -$8.05M
MCO icon
4
Moody's
MCO
$84.2B
$182M 8.46%
625,493
-27,427
-4% -$7.67M
GS icon
5
Goldman Sachs
GS
$309B
$171M 7.96%
648,069
-24,373
-4% -$5.43M
AZO icon
6
AutoZone
AZO
$50.2B
$166M 7.74%
140,181
-5,105
-4% -$5.91M
MA icon
7
Mastercard
MA
$487B
$163M 7.59%
456,506
-19,453
-4% -$6.47M
ROST icon
8
Ross Stores
ROST
$78.1B
$160M 7.44%
1,299,764
-40,482
-3% -$4.24M
V icon
9
Visa
V
$689B
$155M 7.23%
709,122
-22,837
-3% -$4.67M
EXPD icon
10
Expeditors International
EXPD
$22.4B
$122M 5.67%
1,279,906
-46,044
-3% -$4.19M
ORLY icon
11
O'Reilly Automotive
ORLY
$75.1B
$110M 5.15%
3,659,940
-67,470
-2% -$2.04M
STRA icon
12
Strategic Education
STRA
$1.78B
$81.1M 3.78%
850,282
-22,183
-3% -$2.06M
FAST icon
13
Fastenal
FAST
$54.7B
$78.3M 3.65%
3,206,398
-112,398
-3% -$2.65M
UNP icon
14
Union Pacific
UNP
$178B
$71M 3.31%
341,130
-4,860
-1% -$971K
NVR icon
15
NVR
NVR
$16.9B
$60.3M 2.81%
14,773
-350
-2% -$1.46M
TJX icon
16
TJX Companies
TJX
$173B
$25.7M 1.2%
375,637
-2,135
-0.6% -$130K
WAT icon
17
Waters Corp
WAT
$36.4B
$14.2M 0.66%
57,476
-1,556
-3% -$353K
VGSH icon
18
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$6.16M 0.29%
99,947
+8,183
+9% +$507K
BIL icon
19
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
$2.36M 0.11%
25,799
+7,921
+44% +$725K
CMG icon
20
Chipotle Mexican Grill
CMG
$42.6B
– –
-3,224,550
Closed -$80.2M

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SNT
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AM
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SGM
Skye Global Management West Palm Beach, Florida $5B AUM 11.9% 1-Year Est. Return
PAMP
Polar Asset Management Partners Toronto, Ontario, Canada $5.01B AUM 35.27% 1-Year Est. Return
MOS
MGO One Seven Beachwood, Ohio $4.98B AUM 22.72% 1-Year Est. Return
BCM
Bridgeway Capital Management Houston, Texas $4.97B AUM 44.96% 1-Year Est. Return
CFC
Cincinnati Financial Corp Fairfield, Ohio $4.96B AUM 18.21% 1-Year Est. Return
BPWM
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Marshfield Associates's Q4 2020 Portfolio in Review

As of Q4 2020, Marshfield Associates held 20 positions worth $2.15B, up 3.1% from $2.08B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Marshfield Associates withdrew a net $150M in Q4 2020, closing 1 position and reducing 17 holdings. Its most notable exit was Chipotle Mexican Grill, an estimated $80.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 40% of assets, up from 38% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Marshfield Associates added an estimated $725K to State Street SPDR Bloomberg 1-3 Month T-Bill ETF.

  • Marshfield Associates added most to State Street SPDR Bloomberg 1-3 Month T-Bill ETF in Q4 2020, an estimated $725K increase.
  • Marshfield Associates's biggest Q4 2020 reduction was Deere & Co, cutting an estimated $8.37M.
  • Marshfield Associates fully exited Chipotle Mexican Grill in Q4 2020, selling an estimated $80.2M.
  • Marshfield Associates's ten largest holdings make up 79% of its $2.15B portfolio in Q4 2020.
  • Marshfield Associates opened 0 new positions and closed 1 in Q4 2020.
  • Marshfield Associates's portfolio value rose 3.1% quarter-over-quarter to $2.15B.

Based on Marshfield Associates's 13F filing for Q4 2020, filed 16 Feb 2021.