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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
+15.81%
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
$4.88B
AUM Growth
-$48.8M
Cap. Flow
-$693M
Cap. Flow %
-14.21%
Top 10 Hldgs %
74.89%
Holding
21
New
–
Increased
6
Reduced
11
Closed
2

Top Buys

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$4.53M
2
DPZ icon
Domino's
DPZ
+$1.2M
3
DIS icon
Walt Disney
DIS
+$672K
4
ROST icon
Ross Stores
ROST
+$238K
5
TJX icon
TJX Companies
TJX
+$221K

Top Sells

Rank Stock Value
1
GS icon
Goldman Sachs
GS
+$351M
2
DFS
Discover Financial Services
DFS
+$278M
3
ACGL icon
Arch Capital
ACGL
+$59.6M
4
STRA icon
Strategic Education
STRA
+$4.48M
5
MA icon
Mastercard
MA
+$1.81M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 49.59%
2 Financials 28.45%
3 Industrials 13.93%
4 Communication Services 3.97%
5 Consumer Staples 3.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ROST icon
1
Ross Stores
ROST
$74.9B
$571M 11.7%
3,887,862
+1,660
+0% +$238K
AZO icon
2
AutoZone
AZO
$49.7B
$531M 10.89%
168,452
-477
-0.3% -$1.36M
ACGL icon
3
Arch Capital
ACGL
$35.4B
$400M 8.21%
4,328,577
-704,630
-14% -$59.6M
TJX icon
4
TJX Companies
TJX
$171B
$359M 7.37%
3,542,584
+2,278
+0.1% +$221K
DPZ icon
5
Domino's
DPZ
$10.7B
$353M 7.25%
711,210
+2,754
+0.4% +$1.2M
ORLY icon
6
O'Reilly Automotive
ORLY
$71.3B
$340M 6.97%
4,517,520
-8,610
-0.2% -$602K
CMI icon
7
Cummins
CMI
$89.5B
$306M 6.28%
1,039,422
-1,369
-0.1% -$353K
NVR icon
8
NVR
NVR
$17.5B
$264M 5.42%
32,623
-36
-0.1% -$267K
MA icon
9
Mastercard
MA
$480B
$264M 5.41%
547,810
-3,950
-0.7% -$1.81M
PGR icon
10
Progressive
PGR
$121B
$263M 5.4%
1,273,126
-2,488
-0.2% -$462K
V icon
11
Visa
V
$682B
$258M 5.28%
923,129
-3,300
-0.4% -$911K
EXPD icon
12
Expeditors International
EXPD
$23.9B
$219M 4.5%
1,805,437
-2,248
-0.1% -$278K
MCO icon
13
Moody's
MCO
$89.2B
$202M 4.15%
514,922
+76
+0% +$29.3K
DIS icon
14
Walt Disney
DIS
$170B
$193M 3.97%
1,581,096
+6,435
+0.4% +$672K
STRA icon
15
Strategic Education
STRA
$1.73B
$189M 3.87%
1,811,450
-45,865
-2% -$4.48M
FAST icon
16
Fastenal
FAST
$52.2B
$153M 3.15%
3,979,710
-12,888
-0.3% -$456K
BIL icon
17
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.8B
$7.49M 0.15%
81,590
+49,432
+154% +$4.53M
VGSH icon
18
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$1.56M 0.03%
26,867
– –
USFR icon
19
WisdomTree Floating Rate Treasury Fund
USFR
$17.9B
$372K 0.01%
7,406
– –
DFS
20
DELISTED
Discover Financial Services
DFS
– –
-2,476,618
Closed -$278M
GS icon
21
Goldman Sachs
GS
$314B
– –
-909,651
Closed -$351M

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AM
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SGM
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CCA
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PAMP
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MOS
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BCM
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CFC
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Marshfield Associates's Q1 2024 Portfolio in Review

As of Q1 2024, Marshfield Associates held 21 positions worth $4.88B, down 0.99% from $4.93B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Marshfield Associates withdrew a net $693M in Q1 2024, closing 2 positions and reducing 11 holdings. Its most notable exit was Goldman Sachs, an estimated $351M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 50% of assets, up from 43% a quarter earlier, followed by Financials and Industrials.

Against the trend, Marshfield Associates added an estimated $4.53M 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 Q1 2024, an estimated $4.53M increase.
  • Marshfield Associates's biggest Q1 2024 reduction was Arch Capital, cutting an estimated $59.6M.
  • Marshfield Associates fully exited Goldman Sachs in Q1 2024, selling an estimated $351M.
  • Marshfield Associates's ten largest holdings make up 75% of its $4.88B portfolio in Q1 2024.
  • Marshfield Associates opened 0 new positions and closed 2 in Q1 2024.
  • Marshfield Associates's portfolio value fell 0.99% quarter-over-quarter to $4.88B.

Based on Marshfield Associates's 13F filing for Q1 2024, filed 15 May 2024.