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MARSHFIELD ASSOCIATES

hedge fundUpdated 27 days ago

Managed by Marshfield Associates • Latest filing Q2 2026

Portfolio value
$4.3B
Q2 2026
Filings
14
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
20.7%
Implied from 13F holdings

Portfolio value history

13F-disclosed portfolio value over 24 quarters

Show data table
PeriodPortfolio value
Q2 2018$2.6M
Q3 2018$2.6M
Q4 2018$2.6M
Q1 2019$3.4M
Q2 2019$4.8M
Q3 2019$4.8M
Q2 2020$3.5M
Q2 2022$6.9M
Q3 2022$6.5M
Q4 2022$6.2M
Q1 2023$3.4B
Q2 2023$3.8B
Q3 2023$4B
Q4 2023$4.9B
Q1 2024$4.9B
Q2 2024$4.5B
Q3 2024$4.7B
Q4 2024$4.6B
Q1 2025$4.6B
Q2 2025$4.9B
Q3 2025$5.8B
Q4 2025$5.7B
Q1 2026$5B
Q2 2026$4.3B

Top holdings

17 positions as of Q2 2026

View filing
U
1.UNH

UNITEDHEALTH GROUP INC

Value
$634.3M
Shares
1.53M
% Port
14.87%
P
2.PGR

PROGRESSIVE CORP

Value
$470.4M
Shares
2.15M
% Port
11.03%
A
3.AZO

AUTOZONE INC

Value
$435.8M
Shares
136.4K
% Port
10.22%
V
4.V

VISA INC

Value
$354.9M
Shares
1.03M
% Port
8.32%
A
5.ACGLO

ARCH CAP GROUP LTD

Value
$323.3M
Shares
3.33M
% Port
7.58%
M
6.MA

MASTERCARD INCORPORATED

Value
$293.9M
Shares
572.3K
% Port
6.89%
E
7.EXPD

EXPEDITORS INTL WASH INC

Value
$253.3M
Shares
1.55M
% Port
5.94%
O
8.ORLY

OREILLY AUTOMOTIVE INC

Value
$252.4M
Shares
2.74M
% Port
5.92%
M
9.MCO

MOODYS CORP

Value
$191.5M
Shares
422.8K
% Port
4.49%
D
10.DPZ

DOMINOS PIZZA INC

Value
$189M
Shares
638.5K
% Port
4.43%
N
11.NKE

NIKE INC

Value
$178.3M
Shares
4.34M
% Port
4.18%
N
12.NVR

NVR INC

Value
$137.2M
Shares
20.1K
% Port
3.22%
T
13.TJX

TJX COS INC NEW

Value
$132.2M
Shares
872.8K
% Port
3.10%
R
14.ROST

ROSS STORES INC

Value
$126.8M
Shares
595.7K
% Port
2.97%
D
15.DIS

DISNEY WALT CO

Value
$124.9M
Shares
1.30M
% Port
2.93%
F
16.FAST

FASTENAL CO

Value
$123.7M
Shares
2.57M
% Port
2.90%
S
17.SNEX

STRATEGIC ED INC

Value
$42.8M
Shares
559.0K
% Port
1.00%

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