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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
+5.44%
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
$3.85B
AUM Growth
+$444M
Cap. Flow
+$279M
Cap. Flow %
7.26%
Top 10 Hldgs %
71.45%
Holding
21
New
1
Increased
16
Reduced
3
Closed
–

Top Buys

1
DFS
Discover Financial Services
DFS
+$110M
2
GS icon
Goldman Sachs
GS
+$20.2M
3
ROST icon
Ross Stores
ROST
+$19.9M
4
AZO icon
AutoZone
AZO
+$17.9M
5
ACGL icon
Arch Capital
ACGL
+$16.3M

Top Sells

1
PGR icon
Progressive
PGR
+$2.73M
2
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$263K
3
USFR icon
WisdomTree Floating Rate Treasury Fund
USFR
+$21.2K

Sector Composition

1 Consumer Discretionary 42.59%
2 Financials 38.8%
3 Industrials 14.87%
4 Consumer Staples 3.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACGL icon
1
Arch Capital
ACGL
$35.4B
$436M 11.33%
5,821,637
+225,583
+4% +$16.3M
ROST icon
2
Ross Stores
ROST
$74.9B
$379M 9.86%
3,381,748
+188,983
+6% +$19.9M
AZO icon
3
AutoZone
AZO
$49.7B
$361M 9.38%
144,665
+7,017
+5% +$17.9M
TJX icon
4
TJX Companies
TJX
$171B
$262M 6.81%
3,089,414
+139,627
+5% +$11M
GS icon
5
Goldman Sachs
GS
$314B
$256M 6.65%
793,417
+61,337
+8% +$20.2M
ORLY icon
6
O'Reilly Automotive
ORLY
$71.3B
$246M 6.4%
3,864,945
+207,675
+6% +$12.7M
CMI icon
7
Cummins
CMI
$89.5B
$220M 5.71%
895,373
+44,147
+5% +$10M
DPZ icon
8
Domino's
DPZ
$10.7B
$210M 5.45%
622,499
+43,552
+8% +$13.7M
EXPD icon
9
Expeditors International
EXPD
$23.9B
$190M 4.94%
1,570,405
+77,182
+5% +$8.78M
V icon
10
Visa
V
$682B
$190M 4.94%
799,612
+40,170
+5% +$9.19M
MA icon
11
Mastercard
MA
$480B
$185M 4.82%
471,438
+22,533
+5% +$8.46M
NVR icon
12
NVR
NVR
$17.5B
$181M 4.7%
28,479
+1,317
+5% +$7.67M
MCO icon
13
Moody's
MCO
$89.2B
$155M 4.04%
447,093
+20,489
+5% +$6.5M
PGR icon
14
Progressive
PGR
$121B
$148M 3.85%
1,117,902
-20,345
-2% -$2.73M
STRA icon
15
Strategic Education
STRA
$1.73B
$138M 3.59%
2,038,133
+23,663
+1% +$1.93M
DFS
16
DELISTED
Discover Financial Services
DFS
$122M 3.18%
+1,046,601
New +$110M
FAST icon
17
Fastenal
FAST
$52.2B
$100M 2.61%
3,405,996
+197,948
+6% +$5.42M
UNP icon
18
Union Pacific
UNP
$179B
$61.8M 1.61%
302,111
+15,475
+5% +$3.08M
BIL icon
19
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.8B
$2.95M 0.08%
32,158
– –
VGSH icon
20
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$2.52M 0.07%
43,703
-4,510
-9% -$263K
USFR icon
21
WisdomTree Floating Rate Treasury Fund
USFR
$17.9B
$339K 0.01%
6,731
-420
-6% -$21.2K

Similar funds

SNT
SIG North Trading Bala Cynwyd, Pennsylvania $4.98B AUM 36.24% 1-Year Est. Return
AM
Atreides Management Boston, Massachusetts $5B AUM 78.34% 1-Year Est. Return
SGM
Skye Global Management West Palm Beach, Florida $5B AUM 11.9% 1-Year Est. Return
CCA
Conestoga Capital Advisors Wayne, Pennsylvania $5.01B AUM 6.26% 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

Marshfield Associates's Q2 2023 Portfolio in Review

As of Q2 2023, Marshfield Associates held 21 positions worth $3.85B, up 13% from $3.4B the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Marshfield Associates deployed $279M of net new capital in Q2 2023, opening 1 new position and adding to 16 existing holdings. Its largest new stake was Discover Financial Services: 1,046,601 shares worth $122M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 43% of assets, down from 43% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was Progressive, an estimated $2.73M trimmed.

  • Marshfield Associates's largest Q2 2023 buy was Discover Financial Services: 1,046,601 shares worth $122M.
  • Marshfield Associates added most to Goldman Sachs in Q2 2023, an estimated $20.2M increase.
  • Marshfield Associates's biggest Q2 2023 reduction was Progressive, cutting an estimated $2.73M.
  • Marshfield Associates's ten largest holdings make up 71% of its $3.85B portfolio in Q2 2023.
  • Marshfield Associates opened 1 new position and closed 0 in Q2 2023.
  • Marshfield Associates's portfolio value rose 13% quarter-over-quarter to $3.85B.

Based on Marshfield Associates's 13F filing for Q2 2023, filed 14 Aug 2023.