13F HOLDINGS REPORT
Marshfield Associates
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001172661-25-005042
Total Value
$5.78B
Positions
17
Other Managers
0
Confidential Omitted
No
Holdings (17)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | AUTOZONE INC | AZO | 172,332 | $739.3M | 12.79% |
| 2 | ROSS STORES INC | ROST | 4,020,413 | $612.7M | 10.60% |
| 3 | UNITEDHEALTH GROUP INC | UNH | 1,613,248 | $557.1M | 9.64% |
| 4 | CUMMINS INC | CMI | 1,104,552 | $466.5M | 8.07% |
| 5 | OREILLY AUTOMOTIVE INC | 67103H107 | 3,778,446 | $407.4M | 7.05% |
| 6 | PROGRESSIVE CORP | 743315103 | 1,577,453 | $389.6M | 6.74% |
| 7 | MASTERCARD INCORPORATED | MA | 593,713 | $337.7M | 5.84% |
| 8 | VISA INC | V | 982,793 | $335.5M | 5.81% |
| 9 | DOMINOS PIZZA INC | DPZ | 744,515 | $321.4M | 5.56% |
| 10 | MOODYS CORP | MCO | 537,128 | $255.9M | 4.43% |
| 11 | ARCH CAP GROUP LTD | G0450A105 | 2,724,635 | $247.2M | 4.28% |
| 12 | EXPEDITORS INTL WASH INC | 302130109 | 1,942,740 | $238.2M | 4.12% |
| 13 | NVR INC | NVR | 25,042 | $201.2M | 3.48% |
| 14 | DISNEY WALT CO | 254687106 | 1,634,873 | $187.2M | 3.24% |
| 15 | FASTENAL CO | FAST | 3,749,494 | $183.9M | 3.18% |
| 16 | TJX COS INC NEW | 872540109 | 1,118,637 | $161.7M | 2.80% |
| 17 | STRATEGIC ED INC | STRA | 1,585,588 | $136.4M | 2.36% |