Q3 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FIVE | Sell | FIVE BELOW INC | $83,440,000 | -18.2% | 518,585 | -0.0% | 26.86% | -14.4% |
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $78,913,000 | +2.0% | 225,274 | -0.7% | 25.41% | +6.6% |
| SBUX | Sell | STARBUCKS CORP | $41,019,000 | -8.2% | 449,424 | -0.4% | 13.21% | -4.0% |
| GOOG | Sell | ALPHABET INCcap stk cl c | $38,924,000 | +0.9% | 295,212 | -7.4% | 12.53% | +5.6% |
| JWN | Sell | NORDSTROM INC | $14,599,000 | -27.3% | 977,163 | -0.4% | 4.70% | -23.9% |
| BABA | Sell | ALIBABA GROUP HLDG LTDsponsored ads | $11,056,000 | +0.4% | 127,465 | -3.5% | 3.56% | +5.0% |
| ASO | New | ACADEMY SPORTS & OUTDOORS | $8,889,000 | – | 188,054 | – | 2.86% | – |
| JEF | Sell | JEFFERIES FINL GROUP INC | $6,827,000 | -4.5% | 186,389 | -13.5% | 2.20% | -0.1% |
| ADS | Sell | BREAD FINANCIAL HOLDINGS INC | $4,574,000 | +8.4% | 133,731 | -0.5% | 1.47% | +13.3% |
| BBW | New | BUILD-A-BEAR WORKSHOP INC | $4,093,000 | – | 139,162 | – | 1.32% | – |
| CNA | Sell | CNA FINL CORP | $1,993,000 | +0.3% | 50,654 | -1.6% | 0.64% | +4.9% |
| AAPL | Buy | APPLE INC | $1,415,000 | -11.5% | 8,263 | +0.3% | 0.46% | -7.3% |
| BOOT | Sell | BOOT BARN HLDGS INC | $936,000 | -49.0% | 11,534 | -46.8% | 0.30% | -46.7% |
Q2 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FIVE | New | FIVE BELOW INC | $101,968,000 | – | 518,816 | – | 31.40% | – |
| BRKB | New | BERKSHIRE HATHAWAY CL B | $77,390,000 | – | 226,951 | – | 23.83% | – |
| SBUX | New | STARBUCKS CORP | $44,687,000 | – | 451,110 | – | 13.76% | – |
| GOOG | New | ALPHABET INCcap stk cl c | $38,561,000 | – | 318,767 | – | 11.87% | – |
| JWN | New | NORDSTROM INC | $20,073,000 | – | 980,598 | – | 6.18% | – |
| BABA | New | ALIBABA GROUP HLDG LTDsponsored ads | $11,008,000 | – | 132,070 | – | 3.39% | – |
| JEF | New | JEFFERIES FINL GROUP INC | $7,146,000 | – | 215,439 | – | 2.20% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $6,732,000 | – | 13 | – | 2.07% | – |
| ADS | New | BREAD FINANCIAL HOLDINGS INC | $4,221,000 | – | 134,458 | – | 1.30% | – |
| AXP | New | AMERICAN EXPRESS CO | $3,187,000 | – | 18,295 | – | 0.98% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $3,003,000 | – | 9,310 | – | 0.92% | – |
| CNA | New | CNA FINL CORP | $1,987,000 | – | 51,454 | – | 0.61% | – |
| BOOT | New | BOOT BARN HLDGS INC | $1,836,000 | – | 21,684 | – | 0.56% | – |
| AAPL | New | APPLE INC | $1,598,000 | – | 8,240 | – | 0.49% | – |
| BBY | New | BEST BUY INC | $717,000 | – | 8,750 | – | 0.22% | – |
| WFC | New | WELLS FARGO & CO | $377,000 | – | 8,835 | – | 0.12% | – |
| PEP | New | PEPSICO INC | $223,000 | – | 1,203 | – | 0.07% | – |
| ACCO | New | ACCO BRANDS CORP | $78,000 | – | 15,000 | – | 0.02% | – |
Q4 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| KRUS | Exit | KURA SUSHI USA INC | $0 | – | -455 | – | -0.01% | – |
| Exit | LOYALTY VENTURES INC | $0 | – | -46,085 | – | -0.02% | – | |
| ACCO | Exit | ACCO BRANDS CORP | $0 | – | -15,000 | – | -0.03% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -200 | – | -0.08% | – |
| BBY | Exit | BEST BUY INC | $0 | – | -5,000 | – | -0.12% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -11,835 | – | -0.18% | – |
| AAPL | Exit | APPLE INC | $0 | – | -8,200 | – | -0.43% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -18,400 | – | -0.94% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -9,310 | – | -1.03% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -79,194 | – | -1.11% | – |
| ADS | Exit | BREAD FINANCIAL HOLDINGS INC | $0 | – | -136,010 | – | -1.62% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -13 | – | -2.00% | – |
| BABA | Exit | ALIBABA GROUP HLDG LTDsponsored ads | $0 | – | -133,747 | – | -4.06% | – |
| JWN | Exit | NORDSTROM INC | $0 | – | -923,157 | – | -5.85% | – |
| JEF | Exit | JEFFERIES FINL GROUP INC | $0 | – | -771,934 | – | -8.63% | – |
| GOOG | Exit | ALPHABET INCcap stk cl c | $0 | – | -264,345 | – | -9.63% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -433,628 | – | -13.85% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -227,583 | – | -23.03% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -524,366 | – | -27.36% | – |
Q3 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FIVE | Buy | FIVE BELOW INC | $72,189,000 | +23.4% | 524,366 | +1.7% | 27.36% | +22.3% |
| BRKB | Buy | BERKSHIRE HATHAWAY CL B | $60,769,000 | -2.2% | 227,583 | +0.0% | 23.03% | -3.0% |
| SBUX | Sell | STARBUCKS CORP | $36,537,000 | +10.0% | 433,628 | -0.2% | 13.85% | +9.1% |
| GOOG | Buy | ALPHABET INCcap stk cl c | $25,417,000 | -8.3% | 264,345 | +1985.7% | 9.63% | -9.1% |
| JEF | Sell | JEFFERIES FINL GROUP INC | $22,772,000 | +6.4% | 771,934 | -0.4% | 8.63% | +5.5% |
| JWN | Buy | NORDSTROM INC | $15,444,000 | -15.5% | 923,157 | +6.7% | 5.85% | -16.3% |
| BABA | Sell | ALIBABA GROUP HLDG LTDsponsored ads | $10,698,000 | -32.4% | 133,747 | -3.9% | 4.06% | -32.9% |
| ADS | Sell | BREAD FINANCIAL HOLDINGS INC | $4,278,000 | -21.1% | 136,010 | -7.0% | 1.62% | -21.8% |
| CNA | Buy | CNA FINL CORP | $2,922,000 | -5.5% | 79,194 | +15.0% | 1.11% | -6.3% |
| AAPL | Sell | APPLE INC | $1,133,000 | -9.9% | 8,200 | -10.9% | 0.43% | -10.8% |
| BBY | New | BEST BUY INC | $317,000 | – | 5,000 | – | 0.12% | – |
| ACCO | New | ACCO BRANDS CORP | $74,000 | – | 15,000 | – | 0.03% | – |
| Sell | LOYALTY VENTURES INC | $56,000 | -70.2% | 46,085 | -12.6% | 0.02% | -70.8% | |
| KRUS | Sell | KURA SUSHI USA INC | $33,000 | -97.8% | 455 | -98.5% | 0.01% | -97.7% |
| DBI | Exit | DESIGNER BRANDS INCcl a | $0 | – | -131,705 | – | -0.66% | – |
Q2 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | New | BERKSHIRE HATHAWAY CL B | $62,115,000 | – | 227,510 | – | 23.75% | – |
| FIVE | New | FIVE BELOW INC | $58,498,000 | – | 515,716 | – | 22.37% | – |
| SBUX | New | STARBUCKS CORP | $33,203,000 | – | 434,648 | – | 12.70% | – |
| GOOG | New | ALPHABET INCcap stk cl c | $27,724,000 | – | 12,674 | – | 10.60% | – |
| JEF | New | JEFFERIES FINL GROUP INC | $21,400,000 | – | 774,804 | – | 8.18% | – |
| JWN | New | NORDSTROM INC | $18,287,000 | – | 865,437 | – | 6.99% | – |
| BABA | New | ALIBABA GROUP HLDG LTDsponsored ads | $15,816,000 | – | 139,127 | – | 6.05% | – |
| ADS | New | BREAD FINANCIAL HOLDINGS INC | $5,421,000 | – | 146,270 | – | 2.07% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $5,316,000 | – | 13 | – | 2.03% | – |
| CNA | New | CNA FINL CORP | $3,091,000 | – | 68,844 | – | 1.18% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $2,765,000 | – | 9,310 | – | 1.06% | – |
| AXP | New | AMERICAN EXPRESS CO | $2,551,000 | – | 18,400 | – | 0.98% | – |
| DBI | New | DESIGNER BRANDS INCcl a | $1,720,000 | – | 131,705 | – | 0.66% | – |
| KRUS | New | KURA SUSHI USA INC | $1,477,000 | – | 29,818 | – | 0.56% | – |
| AAPL | New | APPLE INC | $1,258,000 | – | 9,200 | – | 0.48% | – |
| WFC | New | WELLS FARGO & CO | $464,000 | – | 11,835 | – | 0.18% | – |
| MKL | New | MARKEL CORP | $259,000 | – | 200 | – | 0.10% | – |
| New | LOYALTY VENTURES INC | $188,000 | – | 52,717 | – | 0.07% | – |
Q4 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -2,722 | – | -0.18% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -11,835 | – | -0.18% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -546 | – | -0.21% | – |
| AAPL | Exit | APPLE INC | $0 | – | -9,400 | – | -0.43% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -25,622 | – | -0.49% | – |
| DBI | Exit | DESIGNER BRANDS INCcl a | $0 | – | -132,275 | – | -0.60% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -18,400 | – | -1.00% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -9,310 | – | -1.14% | – |
| KRUS | Exit | KURA SUSHI USA INC | $0 | – | -91,331 | – | -1.29% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -13 | – | -1.73% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -155,762 | – | -2.11% | – |
| ADS | Exit | ALLIANCE DATA SYSTEMS CORP | $0 | – | -136,790 | – | -4.46% | – |
| JWN | Exit | NORDSTROM INC | $0 | – | -559,211 | – | -4.78% | – |
| BABA | Exit | ALIBABA GROUP HLDG LTDsponsored ads | $0 | – | -126,632 | – | -6.06% | – |
| JEF | Exit | JEFFERIES FINL GROUP INC | $0 | – | -791,016 | – | -9.49% | – |
| GOOG | Exit | ALPHABET INCcap stk cl c | $0 | – | -12,034 | – | -10.36% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -404,709 | – | -14.43% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -353,630 | – | -20.21% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -236,581 | – | -20.87% | – |
Q3 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Buy | BERKSHIRE HATHAWAY CL B | $64,572,000 | +0.9% | 236,581 | +2.8% | 20.87% | -0.2% |
| FIVE | Buy | FIVE BELOW INC | $62,525,000 | -4.4% | 353,630 | +4.5% | 20.21% | -5.5% |
| SBUX | Buy | STARBUCKS CORP | $44,643,000 | -0.2% | 404,709 | +1.2% | 14.43% | -1.3% |
| GOOG | Buy | ALPHABET INCcap stk cl c | $32,074,000 | +9.1% | 12,034 | +2.6% | 10.36% | +7.9% |
| JEF | Buy | JEFFERIES FINL GROUP INC | $29,370,000 | +10.4% | 791,016 | +1.7% | 9.49% | +9.1% |
| BABA | Buy | ALIBABA GROUP HLDG LTDsponsored ads | $18,748,000 | -18.2% | 126,632 | +25.3% | 6.06% | -19.1% |
| JWN | Buy | NORDSTROM INC | $14,791,000 | +45.5% | 559,211 | +101.2% | 4.78% | +43.9% |
| ADS | Buy | ALLIANCE DATA SYSTEMS CORP | $13,801,000 | +5.8% | 136,790 | +9.2% | 4.46% | +4.6% |
| CNA | Buy | CNA FINL CORP | $6,536,000 | -2.1% | 155,762 | +6.1% | 2.11% | -3.2% |
| KRUS | Sell | KURA SUSHI USA INC | $3,989,000 | -13.0% | 91,331 | -24.3% | 1.29% | -14.0% |
| AXP | Sell | AMERICAN EXPRESS CO | $3,083,000 | +1.2% | 18,400 | -0.2% | 1.00% | +0.1% |
| DBI | Buy | DESIGNER BRANDS INCcl a | $1,843,000 | -5.8% | 132,275 | +11.9% | 0.60% | -6.7% |
| USB | Sell | US BANCORP DEL | $1,523,000 | +2.6% | 25,622 | -1.7% | 0.49% | +1.4% |
Q2 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FIVE | New | FIVE BELOW INC | $65,395,000 | – | 338,361 | – | 21.38% | – |
| BRKB | New | BERKSHIRE HATHAWAY CL B | $63,969,000 | – | 230,171 | – | 20.91% | – |
| SBUX | New | STARBUCKS CORP | $44,719,000 | – | 399,959 | – | 14.62% | – |
| GOOG | New | ALPHABET INCcap stk cl c | $29,392,000 | – | 11,727 | – | 9.61% | – |
| JEF | New | JEFFERIES FINL GROUP INC | $26,610,000 | – | 778,056 | – | 8.70% | – |
| BABA | New | ALIBABA GROUP HLDG LTDsponsored ads | $22,916,000 | – | 101,050 | – | 7.49% | – |
| ADS | New | ALLIANCE DATA SYSTEMS CORP | $13,047,000 | – | 125,220 | – | 4.26% | – |
| JWN | New | NORDSTROM INC | $10,163,000 | – | 277,906 | – | 3.32% | – |
| CNA | New | CNA FINL CORP | $6,676,000 | – | 146,762 | – | 2.18% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $5,442,000 | – | 13 | – | 1.78% | – |
| KRUS | New | KURA SUSHI USA INC | $4,586,000 | – | 120,654 | – | 1.50% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $3,533,000 | – | 9,310 | – | 1.16% | – |
| AXP | New | AMERICAN EXPRESS CO | $3,045,000 | – | 18,430 | – | 1.00% | – |
| DBI | New | DESIGNER BRANDS INCcl a | $1,956,000 | – | 118,200 | – | 0.64% | – |
| USB | New | US BANCORP DEL | $1,485,000 | – | 26,062 | – | 0.48% | – |
| AAPL | New | APPLE INC | $1,287,000 | – | 9,400 | – | 0.42% | – |
| MKL | New | MARKEL CORP | $648,000 | – | 546 | – | 0.21% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $541,000 | – | 2,722 | – | 0.18% | – |
| WFC | New | WELLS FARGO & CO | $536,000 | – | 11,835 | – | 0.18% | – |
Q4 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| WFC | Exit | WELLS FARGO & CO | $0 | – | -11,335 | – | -0.12% | – |
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -3,168 | – | -0.20% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -564 | – | -0.25% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -26,062 | – | -0.43% | – |
| AAPL | Exit | APPLE INC | $0 | – | -9,000 | – | -0.48% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -18,430 | – | -0.85% | – |
| BBW | Exit | BUILD A BEAR WORKSHOP | $0 | – | -873,926 | – | -1.01% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -13,465 | – | -1.25% | – |
| DBI | Exit | DESIGNER BRANDS INCcl a | $0 | – | -647,205 | – | -1.62% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -128,342 | – | -1.78% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -13 | – | -1.92% | – |
| ADS | Exit | ALLIANCE DATA SYSTEMS CORP | $0 | – | -191,044 | – | -3.70% | – |
| JWN | Exit | NORDSTROM INC | $0 | – | -725,841 | – | -3.99% | – |
| KRUS | Exit | KURA SUSHI USA INC | $0 | – | -738,407 | – | -4.46% | – |
| JEF | Exit | JEFFERIES FINL GROUP INC | $0 | – | -864,114 | – | -7.18% | – |
| GOOG | Exit | ALPHABET INCcap stk cl c | $0 | – | -12,624 | – | -8.56% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -413,256 | – | -16.39% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -371,430 | – | -21.77% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -244,334 | – | -24.01% | – |
Q3 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $52,028,000 | +17.1% | 244,334 | -1.8% | 24.01% | +7.5% |
| FIVE | Sell | FIVE BELOW INC | $47,172,000 | +16.4% | 371,430 | -2.0% | 21.77% | +6.8% |
| SBUX | Sell | STARBUCKS CORP | $35,507,000 | +16.2% | 413,256 | -0.5% | 16.39% | +6.6% |
| GOOG | Sell | ALPHABET INCcap stk cl c | $18,552,000 | +0.9% | 12,624 | -2.9% | 8.56% | -7.4% |
| JEF | Sell | JEFFERIES FINL GROUP INC | $15,554,000 | +13.1% | 864,114 | -2.3% | 7.18% | +3.8% |
| KRUS | Sell | KURA SUSHI USA INC | $9,673,000 | -10.4% | 738,407 | -2.4% | 4.46% | -17.8% |
| JWN | Buy | NORDSTROM INC | $8,652,000 | +30.7% | 725,841 | +69.8% | 3.99% | +19.9% |
| ADS | Sell | ALLIANCE DATA SYSTEMS CORP | $8,020,000 | -9.0% | 191,044 | -2.2% | 3.70% | -16.5% |
| CNA | Buy | CNA FINL CORP | $3,849,000 | +47.6% | 128,342 | +58.3% | 1.78% | +35.4% |
| DBI | Buy | DESIGNER BRANDS INCcl a | $3,514,000 | -12.2% | 647,205 | +9.5% | 1.62% | -19.5% |
| GS | Sell | GOLDMAN SACHS GROUP INC | $2,706,000 | -10.4% | 13,465 | -11.9% | 1.25% | -17.8% |
| BBW | Sell | BUILD A BEAR WORKSHOP | $2,185,000 | +11.7% | 873,926 | -2.6% | 1.01% | +2.4% |
| AAPL | Buy | APPLE INC | $1,042,000 | +26.9% | 9,000 | +300.0% | 0.48% | +16.5% |
| ADP | Sell | AUTOMATIC DATA PROCESSING IN | $442,000 | -12.1% | 3,168 | -6.2% | 0.20% | -19.4% |
| DKS | Exit | DICKS SPORTING GOODS INC | $0 | – | -120,767 | – | -2.51% | – |
Q2 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | New | BERKSHIRE HATHAWAY CL B | $44,415,000 | – | 248,809 | – | 22.35% | – |
| FIVE | New | FIVE BELOW INC | $40,518,000 | – | 378,993 | – | 20.38% | – |
| SBUX | New | STARBUCKS CORP | $30,563,000 | – | 415,309 | – | 15.38% | – |
| GOOG | New | ALPHABET INCcap stk cl c | $18,383,000 | – | 13,004 | – | 9.25% | – |
| JEF | New | JEFFERIES FINL GROUP INC | $13,753,000 | – | 884,419 | – | 6.92% | – |
| KRUS | New | KURA SUSHI USA INC | $10,799,000 | – | 756,251 | – | 5.43% | – |
| ADS | New | ALLIANCE DATA SYSTEMS CORP | $8,816,000 | – | 195,400 | – | 4.44% | – |
| JWN | New | NORDSTROM INC | $6,621,000 | – | 427,469 | – | 3.33% | – |
| DKS | New | DICKS SPORTING GOODS INC | $4,983,000 | – | 120,767 | – | 2.51% | – |
| DBI | New | DESIGNER BRANDS INCcl a | $4,003,000 | – | 591,230 | – | 2.01% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $3,475,000 | – | 13 | – | 1.75% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $3,021,000 | – | 15,285 | – | 1.52% | – |
| CNA | New | CNA FINL CORP | $2,607,000 | – | 81,077 | – | 1.31% | – |
| BBW | New | BUILD A BEAR WORKSHOP | $1,957,000 | – | 897,545 | – | 0.98% | – |
| AXP | New | AMERICAN EXPRESS CO | $1,755,000 | – | 18,430 | – | 0.88% | – |
| USB | New | US BANCORP DEL | $960,000 | – | 26,062 | – | 0.48% | – |
| AAPL | New | APPLE INC | $821,000 | – | 2,250 | – | 0.41% | – |
| MKL | New | MARKEL CORP | $521,000 | – | 564 | – | 0.26% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $503,000 | – | 3,379 | – | 0.25% | – |
| WFC | New | WELLS FARGO & CO | $290,000 | – | 11,335 | – | 0.15% | – |
Q4 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -3,550 | – | -0.28% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -11,435 | – | -0.28% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -564 | – | -0.32% | – |
| AAPL | Exit | APPLE INC | $0 | – | -6,465 | – | -0.70% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -26,194 | – | -0.70% | – |
| DKS | Exit | DICKS SPORTING GOODS INC | $0 | – | -52,000 | – | -1.02% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -18,438 | – | -1.05% | – |
| BBW | Exit | BUILD A BEAR WORKSHOP | $0 | – | -848,286 | – | -1.28% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -74,407 | – | -1.76% | – |
| JWN | Exit | NORDSTROM INC | $0 | – | -117,900 | – | -1.91% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -13 | – | -1.95% | – |
| GOOG | Exit | ALPHABET INCcap stk cl c | $0 | – | -3,508 | – | -2.05% | – |
| DBI | Exit | DESIGNER BRANDS INCcl a | $0 | – | -260,610 | – | -2.14% | – |
| LB | Exit | L BRANDS INC | $0 | – | -370,537 | – | -3.48% | – |
| JEF | Exit | JEFFERIES FINL GROUP INC | $0 | – | -1,058,490 | – | -9.35% | – |
| ADS | Exit | ALLIANCE DATA SYSTEMS CORP | $0 | – | -167,825 | – | -10.32% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -188,962 | – | -11.44% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -116,082 | – | -11.55% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -402,223 | – | -17.08% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -213,754 | – | -21.35% | – |
Q3 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $44,465,000 | -3.9% | 213,754 | -1.5% | 21.35% | -0.3% |
| SBUX | Sell | STARBUCKS CORP | $35,565,000 | -11.5% | 402,223 | -16.1% | 17.08% | -8.1% |
| GS | Sell | GOLDMAN SACHS GROUP INC | $24,056,000 | +0.1% | 116,082 | -1.2% | 11.55% | +3.8% |
| FIVE | Buy | FIVE BELOW INC | $23,828,000 | +7.0% | 188,962 | +1.8% | 11.44% | +11.0% |
| ADS | Buy | ALLIANCE DATA SYSTEMS CORP | $21,503,000 | +23.5% | 167,825 | +35.0% | 10.32% | +28.1% |
| JEF | Buy | JEFFERIES FINL GROUP INC | $19,476,000 | -2.7% | 1,058,490 | +1.7% | 9.35% | +0.9% |
| LB | Buy | L BRANDS INC | $7,259,000 | -18.5% | 370,537 | +8.6% | 3.48% | -15.4% |
| DBI | New | DESIGNER BRANDS INCcl a | $4,462,000 | – | 260,610 | – | 2.14% | – |
| GOOG | Buy | ALPHABET INCcap stk cl c | $4,276,000 | +40.3% | 3,508 | +24.4% | 2.05% | +45.6% |
| JWN | New | NORDSTROM INC | $3,970,000 | – | 117,900 | – | 1.91% | – |
| CNA | Sell | CNA FINL CORP | $3,665,000 | -0.4% | 74,407 | -4.8% | 1.76% | +3.3% |
| BBW | Buy | BUILD A BEAR WORKSHOP | $2,672,000 | -43.0% | 848,286 | +1.1% | 1.28% | -40.9% |
| DKS | Buy | DICKS SPORTING GOODS INC | $2,122,000 | +22.9% | 52,000 | +4.3% | 1.02% | +27.5% |
| USB | Sell | US BANCORP DEL | $1,450,000 | +5.4% | 26,194 | -0.2% | 0.70% | +9.3% |
| MKL | Sell | MARKEL CORP | $667,000 | +7.8% | 564 | -0.7% | 0.32% | +11.9% |
| ADP | Sell | AUTOMATIC DATA PROCESSING IN | $573,000 | -2.6% | 3,550 | -0.1% | 0.28% | +1.1% |
| HAIN | Exit | HAIN CELESTIAL GROUP INC | $0 | – | -21,780 | – | -0.22% | – |
| MDC | Exit | M D C HLDGS INC | $0 | – | -383,245 | – | -5.81% | – |
Q2 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | New | BERKSHIRE HATHAWAY CL B | $46,267,000 | – | 217,044 | – | 21.41% | – |
| SBUX | New | STARBUCKS CORP | $40,165,000 | – | 479,123 | – | 18.59% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $24,033,000 | – | 117,463 | – | 11.12% | – |
| FIVE | New | FIVE BELOW INC | $22,275,000 | – | 185,595 | – | 10.31% | – |
| JEF | New | JEFFERIES FINL GROUP INC | $20,024,000 | – | 1,041,298 | – | 9.27% | – |
| ADS | New | ALLIANCE DATA SYSTEMS CORP | $17,417,000 | – | 124,295 | – | 8.06% | – |
| MDC | New | M D C HLDGS INC | $12,563,000 | – | 383,245 | – | 5.81% | – |
| LB | New | L BRANDS INC | $8,904,000 | – | 341,167 | – | 4.12% | – |
| BBW | New | BUILD A BEAR WORKSHOP | $4,689,000 | – | 838,875 | – | 2.17% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $4,139,000 | – | 13 | – | 1.92% | – |
| CNA | New | CNA FINL CORP | $3,680,000 | – | 78,182 | – | 1.70% | – |
| GOOG | New | ALPHABET INCcap stk cl c | $3,047,000 | – | 2,819 | – | 1.41% | – |
| AXP | New | AMERICAN EXPRESS CO | $2,276,000 | – | 18,438 | – | 1.05% | – |
| DKS | New | DICKS SPORTING GOODS INC | $1,726,000 | – | 49,850 | – | 0.80% | – |
| USB | New | US BANCORP DEL | $1,376,000 | – | 26,258 | – | 0.64% | – |
| AAPL | New | APPLE INC | $1,280,000 | – | 6,465 | – | 0.59% | – |
| MKL | New | MARKEL CORP | $619,000 | – | 568 | – | 0.29% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $588,000 | – | 3,555 | – | 0.27% | – |
| WFC | New | WELLS FARGO & CO | $541,000 | – | 11,435 | – | 0.25% | – |
| HAIN | New | HAIN CELESTIAL GROUP INC | $477,000 | – | 21,780 | – | 0.22% | – |
Q4 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| IBM | Exit | INTERNATIONAL BUSINESS MACHS | $0 | – | -1,808 | – | -0.14% | – |
| GOOG | Exit | ALPHABET INCcap stk cl c | $0 | – | -270 | – | -0.17% | – |
| CLCT | Exit | COLLECTORS UNIVERSE INC | $0 | – | -23,770 | – | -0.18% | – |
| HAIN | Exit | HAIN CELESTIAL GROUP INC | $0 | – | -17,704 | – | -0.25% | – |
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -3,660 | – | -0.29% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -11,435 | – | -0.32% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -583 | – | -0.36% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -26,258 | – | -0.73% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -18,438 | – | -1.03% | – |
| RCII | Exit | RENT A CTR INC NEW | $0 | – | -153,690 | – | -1.16% | – |
| ADS | Exit | ALLIANCE DATA SYSTEMS CORP | $0 | – | -11,215 | – | -1.39% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -66,368 | – | -1.59% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -13 | – | -2.18% | – |
| BBW | Exit | BUILD A BEAR WORKSHOP | $0 | – | -690,033 | – | -3.27% | – |
| MDC | Exit | M D C HLDGS INC | $0 | – | -327,054 | – | -5.06% | – |
| LB | Exit | L BRANDS INC | $0 | – | -363,686 | – | -5.77% | – |
| JEF | Exit | JEFFERIES FINL GROUP INC | $0 | – | -793,565 | – | -9.12% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -100,229 | – | -11.77% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -516,167 | – | -15.36% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -237,641 | – | -16.18% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -211,357 | – | -23.69% | – |
Q3 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $45,254,000 | +12.5% | 211,357 | -2.0% | 23.69% | +3.0% |
| FIVE | Sell | FIVE BELOW INC | $30,908,000 | +14.8% | 237,641 | -13.7% | 16.18% | +5.2% |
| SBUX | Sell | STARBUCKS CORP | $29,339,000 | +15.3% | 516,167 | -0.9% | 15.36% | +5.6% |
| JEF | Sell | JEFFERIES FINL GROUP INC | $17,427,000 | -3.9% | 793,565 | -0.5% | 9.12% | -11.9% |
| LB | Buy | L BRANDS INC | $11,020,000 | +9.0% | 363,686 | +32.7% | 5.77% | -0.1% |
| MDC | Sell | M D C HLDGS INC | $9,674,000 | -4.0% | 327,054 | -0.2% | 5.06% | -12.1% |
| BBW | Sell | BUILD A BEAR WORKSHOP | $6,245,000 | +18.8% | 690,033 | -0.3% | 3.27% | +8.8% |
| ADS | Buy | ALLIANCE DATA SYSTEMS CORP | $2,649,000 | +68.8% | 11,215 | +66.6% | 1.39% | +54.6% |
| RCII | Sell | RENT A CTR INC NEW | $2,210,000 | -3.4% | 153,690 | -1.1% | 1.16% | -11.5% |
| USB | Buy | US BANCORP DEL | $1,387,000 | +6.1% | 26,258 | +0.5% | 0.73% | -2.8% |
| MKL | Sell | MARKEL CORP | $693,000 | -4.1% | 583 | -12.6% | 0.36% | -12.1% |
| WFC | Sell | WELLS FARGO & CO | $601,000 | -12.8% | 11,435 | -8.0% | 0.32% | -20.1% |
| ADP | Sell | AUTOMATIC DATA PROCESSING IN | $551,000 | +2.6% | 3,660 | -8.5% | 0.29% | -6.2% |
| CLCT | New | COLLECTORS UNIVERSE INC | $352,000 | – | 23,770 | – | 0.18% | – |
| IBM | Buy | INTERNATIONAL BUSINESS MACHS | $273,000 | +8.8% | 1,808 | +0.4% | 0.14% | 0.0% |
Q2 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | New | BERKSHIRE HATHAWAY CL B | $40,238,000 | – | 215,582 | – | 22.99% | – |
| FIVE | New | FIVE BELOW INC | $26,921,000 | – | 275,523 | – | 15.38% | – |
| SBUX | New | STARBUCKS CORP | $25,451,000 | – | 520,997 | – | 14.54% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $22,108,000 | – | 100,229 | – | 12.63% | – |
| JEF | New | JEFFERIES FINL GROUP INC | $18,128,000 | – | 797,175 | – | 10.36% | – |
| LB | New | L BRANDS INC | $10,107,000 | – | 274,043 | – | 5.78% | – |
| MDC | New | M D C HLDGS INC | $10,081,000 | – | 327,621 | – | 5.76% | – |
| BBW | New | BUILD A BEAR WORKSHOP | $5,258,000 | – | 691,833 | – | 3.00% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $3,667,000 | – | 13 | – | 2.10% | – |
| CNA | New | CNA FINL CORP | $3,032,000 | – | 66,368 | – | 1.73% | – |
| RCII | New | RENT A CTR INC NEW | $2,287,000 | – | 155,390 | – | 1.31% | – |
| AXP | New | AMERICAN EXPRESS CO | $1,807,000 | – | 18,438 | – | 1.03% | – |
| ADS | New | ALLIANCE DATA SYSTEMS CORP | $1,569,000 | – | 6,730 | – | 0.90% | – |
| USB | New | US BANCORP DEL | $1,307,000 | – | 26,126 | – | 0.75% | – |
| MKL | New | MARKEL CORP | $723,000 | – | 667 | – | 0.41% | – |
| WFC | New | WELLS FARGO & CO | $689,000 | – | 12,435 | – | 0.39% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $537,000 | – | 4,000 | – | 0.31% | – |
| HAIN | New | HAIN CELESTIAL GROUP INC | $528,000 | – | 17,704 | – | 0.30% | – |
| GOOG | New | ALPHABET INCcap stk cl c | $301,000 | – | 270 | – | 0.17% | – |
| IBM | New | INTERNATIONAL BUSINESS MACHS | $251,000 | – | 1,800 | – | 0.14% | – |
Q4 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| IBM | Exit | INTERNATIONAL BUSINESS MACHS | $0 | – | -1,800 | – | -0.14% | – |
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -4,000 | – | -0.23% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -667 | – | -0.37% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -19,538 | – | -0.92% | – |
| MAT | Exit | MATTEL INC | $0 | – | -138,210 | – | -1.12% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -42,638 | – | -1.19% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -57,324 | – | -1.65% | – |
| LB | Exit | L BRANDS INC | $0 | – | -84,827 | – | -1.84% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -71,933 | – | -1.88% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -16 | – | -2.29% | – |
| BBW | Exit | BUILD A BEAR WORKSHOP | $0 | – | -619,673 | – | -2.96% | – |
| MDC | Exit | M D C HLDGS INC | $0 | – | -315,542 | – | -5.46% | – |
| FOSL | Exit | FOSSIL GROUP INC | $0 | – | -1,404,142 | – | -6.83% | – |
| LUK | Exit | LEUCADIA NATL CORP | $0 | – | -799,443 | – | -10.52% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -462,629 | – | -13.24% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -107,086 | – | -13.24% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -521,456 | – | -14.60% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -225,029 | – | -21.51% | – |
Q3 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $41,252,000 | +7.2% | 225,029 | -1.0% | 21.51% | +9.0% |
| GS | Sell | GOLDMAN SACHS GROUP INC | $25,400,000 | +6.4% | 107,086 | -0.5% | 13.24% | +8.2% |
| FIVE | Sell | FIVE BELOW INC | $25,389,000 | +10.3% | 462,629 | -0.7% | 13.24% | +12.2% |
| LUK | Sell | LEUCADIA NATL CORP | $20,186,000 | -4.3% | 799,443 | -0.9% | 10.52% | -2.7% |
| FOSL | Buy | FOSSIL GROUP INC | $13,101,000 | +3.7% | 1,404,142 | +15.1% | 6.83% | +5.5% |
| MDC | Sell | M D C HLDGS INC | $10,479,000 | -7.0% | 315,542 | -1.1% | 5.46% | -5.4% |
| BBW | Buy | BUILD A BEAR WORKSHOP | $5,670,000 | +65.5% | 619,673 | +89.0% | 2.96% | +68.3% |
| CNA | Sell | CNA FINL CORP | $3,615,000 | -63.5% | 71,933 | -64.6% | 1.88% | -62.9% |
| LB | New | L BRANDS INC | $3,530,000 | – | 84,827 | – | 1.84% | – |
| WFC | Sell | WELLS FARGO & CO | $3,161,000 | -11.2% | 57,324 | -10.7% | 1.65% | -9.6% |
| USB | Sell | US BANCORP DEL | $2,285,000 | +3.0% | 42,638 | -0.2% | 1.19% | +4.7% |
| MAT | New | MATTEL INC | $2,139,000 | – | 138,210 | – | 1.12% | – |
| AXP | Sell | AMERICAN EXPRESS CO | $1,767,000 | -7.1% | 19,538 | -13.5% | 0.92% | -5.5% |
| SPLS | Exit | STAPLES INC | $0 | – | -776,923 | – | -4.01% | – |
Q2 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | New | BERKSHIRE HATHAWAY CL B | $38,479,000 | – | 227,191 | – | 19.73% | – |
| SBUX | New | STARBUCKS CORP | $30,406,000 | – | 521,456 | – | 15.59% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $23,877,000 | – | 107,604 | – | 12.24% | – |
| FIVE | New | FIVE BELOW INC | $23,010,000 | – | 466,079 | – | 11.80% | – |
| LUK | New | LEUCADIA NATL CORP | $21,094,000 | – | 806,363 | – | 10.82% | – |
| FOSL | New | FOSSIL GROUP INC | $12,629,000 | – | 1,220,167 | – | 6.48% | – |
| MDC | New | M D C HLDGS INC | $11,269,000 | – | 318,953 | – | 5.78% | – |
| CNA | New | CNA FINL CORP | $9,915,000 | – | 203,388 | – | 5.08% | – |
| SPLS | New | STAPLES INC | $7,824,000 | – | 776,923 | – | 4.01% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $4,075,000 | – | 16 | – | 2.09% | – |
| WFC | New | WELLS FARGO & CO | $3,558,000 | – | 64,211 | – | 1.82% | – |
| BBW | New | BUILD A BEAR WORKSHOP | $3,425,000 | – | 327,789 | – | 1.76% | – |
| USB | New | US BANCORP DEL | $2,219,000 | – | 42,738 | – | 1.14% | – |
| AXP | New | AMERICAN EXPRESS CO | $1,902,000 | – | 22,576 | – | 0.98% | – |
| MKL | New | MARKEL CORP | $651,000 | – | 667 | – | 0.33% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $410,000 | – | 4,000 | – | 0.21% | – |
| IBM | New | INTERNATIONAL BUSINESS MACHS | $277,000 | – | 1,800 | – | 0.14% | – |
Q4 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -4,400 | – | -0.21% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -667 | – | -0.33% | – |
| IBM | Exit | INTERNATIONAL BUSINESS MACHS | $0 | – | -12,748 | – | -1.09% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -16 | – | -1.86% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -87,272 | – | -2.01% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -73,789 | – | -2.54% | – |
| SPLS | Exit | STAPLES INC | $0 | – | -774,545 | – | -3.55% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -187,812 | – | -4.46% | – |
| MDC | Exit | M D C HLDGS INC | $0 | – | -324,265 | – | -4.49% | – |
| FOSL | Exit | FOSSIL GROUP INC | $0 | – | -325,335 | – | -4.85% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -384,461 | – | -7.10% | – |
| LUK | Exit | LEUCADIA NATL CORP | $0 | – | -885,381 | – | -9.04% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -501,199 | – | -10.83% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -147,773 | – | -12.79% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -544,726 | – | -15.82% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -245,628 | – | -19.04% | – |
Q3 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $35,486,000 | -2.8% | 245,628 | -2.6% | 19.04% | -1.1% |
| SBUX | Sell | STARBUCKS CORP | $29,491,000 | -6.0% | 544,726 | -0.8% | 15.82% | -4.4% |
| GS | Sell | GOLDMAN SACHS GROUP INC | $23,831,000 | +6.7% | 147,773 | -1.7% | 12.79% | +8.5% |
| FIVE | Sell | FIVE BELOW INC | $20,193,000 | -14.6% | 501,199 | -1.7% | 10.83% | -13.2% |
| LUK | Sell | LEUCADIA NATL CORP | $16,858,000 | +8.6% | 885,381 | -1.1% | 9.04% | +10.5% |
| CNA | Sell | CNA FINL CORP | $13,229,000 | +8.4% | 384,461 | -1.0% | 7.10% | +10.3% |
| FOSL | Buy | FOSSIL GROUP INC | $9,035,000 | +0.4% | 325,335 | +3.1% | 4.85% | +2.1% |
| MDC | Sell | M D C HLDGS INC | $8,366,000 | +4.4% | 324,265 | -1.5% | 4.49% | +6.2% |
| WFC | Sell | WELLS FARGO & CO | $8,316,000 | -11.5% | 187,812 | -5.4% | 4.46% | -10.0% |
| SPLS | Sell | STAPLES INC | $6,622,000 | -1.4% | 774,545 | -0.6% | 3.55% | +0.3% |
| AXP | Sell | AMERICAN EXPRESS CO | $4,725,000 | +4.0% | 73,789 | -1.4% | 2.54% | +5.8% |
| USB | Sell | US BANCORP DEL | $3,743,000 | +4.3% | 87,272 | -2.0% | 2.01% | +6.0% |
| IBM | Sell | INTERNATIONAL BUSINESS MACHS | $2,025,000 | -9.4% | 12,748 | -13.4% | 1.09% | -7.8% |
Q2 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | New | BERKSHIRE HATHAWAY CL B | $36,496,000 | – | 252,063 | – | 19.25% | – |
| SBUX | New | STARBUCKS CORP | $31,360,000 | – | 549,026 | – | 16.54% | – |
| FIVE | New | FIVE BELOW INC | $23,659,000 | – | 509,774 | – | 12.48% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $22,335,000 | – | 150,320 | – | 11.78% | – |
| LUK | New | LEUCADIA NATL CORP | $15,519,000 | – | 895,496 | – | 8.19% | – |
| CNA | New | CNA FINL CORP | $12,201,000 | – | 388,306 | – | 6.44% | – |
| WFC | New | WELLS FARGO & CO | $9,398,000 | – | 198,567 | – | 4.96% | – |
| FOSL | New | FOSSIL GROUP INC | $9,001,000 | – | 315,500 | – | 4.75% | – |
| MDC | New | M D C HLDGS INC | $8,011,000 | – | 329,140 | – | 4.23% | – |
| SPLS | New | STAPLES INC | $6,715,000 | – | 779,045 | – | 3.54% | – |
| AXP | New | AMERICAN EXPRESS CO | $4,545,000 | – | 74,799 | – | 2.40% | – |
| USB | New | US BANCORP DEL | $3,590,000 | – | 89,023 | – | 1.89% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $3,472,000 | – | 16 | – | 1.83% | – |
| IBM | New | INTERNATIONAL BUSINESS MACHS | $2,234,000 | – | 14,718 | – | 1.18% | – |
| MKL | New | MARKEL CORP | $636,000 | – | 667 | – | 0.34% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $404,000 | – | 4,400 | – | 0.21% | – |
Q4 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -4,400 | – | -0.23% | – |
| L | Exit | LOEWS CORP | $0 | – | -12,005 | – | -0.27% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -700 | – | -0.36% | – |
| IBM | Exit | INTERNATIONAL BUSINESS MACHS | $0 | – | -13,718 | – | -1.16% | – |
| SPLS | Exit | STAPLES INC | $0 | – | -176,580 | – | -1.38% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -16 | – | -1.97% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -90,647 | – | -2.31% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -64,759 | – | -2.87% | – |
| MDC | Exit | M D C HLDGS INC | $0 | – | -242,000 | – | -3.74% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -260,816 | – | -5.32% | – |
| LUK | Exit | LEUCADIA NATL CORP | $0 | – | -544,256 | – | -6.51% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -217,347 | – | -7.10% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -333,803 | – | -7.35% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -151,884 | – | -17.42% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -559,051 | – | -20.74% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -258,533 | – | -21.27% | – |
Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $35,530,000 | -1.7% | 258,533 | -2.6% | 21.27% | -4.2% |
| SBUX | Sell | STARBUCKS CORP | $34,639,000 | +11.6% | 559,051 | -3.4% | 20.74% | +8.7% |
| GS | Sell | GOLDMAN SACHS GROUP INC | $29,109,000 | -10.2% | 151,884 | -2.2% | 17.42% | -12.5% |
| CNA | Buy | CNA FINL CORP | $12,274,000 | -1.1% | 333,803 | +2.8% | 7.35% | -3.7% |
| WFC | Sell | WELLS FARGO & CO | $11,863,000 | -6.4% | 217,347 | -3.6% | 7.10% | -8.8% |
| LUK | Buy | LEUCADIA NATL CORP | $10,869,000 | +34.4% | 544,256 | +63.4% | 6.51% | +30.9% |
| FIVE | Buy | FIVE BELOW INC | $8,889,000 | +60.6% | 260,816 | +86.3% | 5.32% | +56.5% |
| MDC | Buy | M D C HLDGS INC | $6,253,000 | -11.9% | 242,000 | +2.2% | 3.74% | -14.2% |
| AXP | Sell | AMERICAN EXPRESS CO | $4,797,000 | -7.3% | 64,759 | -2.7% | 2.87% | -9.7% |
| USB | Sell | US BANCORP DEL | $3,863,000 | -6.8% | 90,647 | -5.1% | 2.31% | -9.2% |
| SPLS | Buy | STAPLES INC | $2,303,000 | -9.4% | 176,580 | +6.3% | 1.38% | -11.8% |
| IBM | Buy | INTERNATIONAL BUSINESS MACHS | $1,943,000 | +52.6% | 13,718 | +75.3% | 1.16% | +48.7% |
| L | New | LOEWS CORP | $444,000 | – | 12,005 | – | 0.27% | – |
Q2 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | New | BERKSHIRE HATHAWAY CL B | $36,145,000 | – | 265,558 | – | 22.21% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $32,409,000 | – | 155,224 | – | 19.92% | – |
| SBUX | New | STARBUCKS CORP | $31,040,000 | – | 578,948 | – | 19.08% | – |
| WFC | New | WELLS FARGO & CO | $12,676,000 | – | 225,397 | – | 7.79% | – |
| CNA | New | CNA FINL CORP | $12,410,000 | – | 324,788 | – | 7.63% | – |
| LUK | New | LEUCADIA NATL CORP | $8,088,000 | – | 333,121 | – | 4.97% | – |
| MDC | New | M D C HLDGS INC | $7,097,000 | – | 236,810 | – | 4.36% | – |
| FIVE | New | FIVE BELOW INC | $5,534,000 | – | 140,000 | – | 3.40% | – |
| AXP | New | AMERICAN EXPRESS CO | $5,173,000 | – | 66,559 | – | 3.18% | – |
| USB | New | US BANCORP DEL | $4,145,000 | – | 95,497 | – | 2.55% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $3,278,000 | – | 16 | – | 2.01% | – |
| SPLS | New | STAPLES INC | $2,543,000 | – | 166,080 | – | 1.56% | – |
| IBM | New | INTERNATIONAL BUSINESS MACHS | $1,273,000 | – | 7,825 | – | 0.78% | – |
| MKL | New | MARKEL CORP | $560,000 | – | 700 | – | 0.34% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $353,000 | – | 4,400 | – | 0.22% | – |
Q4 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -4,400 | – | -0.25% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -700 | – | -0.31% | – |
| LUK | Exit | LEUCADIA NATL CORP | $0 | – | -63,130 | – | -1.04% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -16 | – | -2.29% | – |
| MDC | Exit | M D C HLDGS INC | $0 | – | -137,160 | – | -2.40% | – |
| SPLS | Exit | STAPLES INC | $0 | – | -288,505 | – | -2.41% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -107,747 | – | -3.12% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -70,137 | – | -4.25% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -339,788 | – | -8.94% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -284,262 | – | -10.20% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -308,812 | – | -16.12% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -181,469 | – | -23.04% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -268,418 | – | -25.64% | – |
Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $37,079,000 | +7.9% | 268,418 | -1.1% | 25.64% | +15.2% |
| GS | Sell | GOLDMAN SACHS GROUP INC | $33,312,000 | +3.5% | 181,469 | -5.6% | 23.04% | +10.4% |
| SBUX | Sell | STARBUCKS CORP | $23,303,000 | -3.3% | 308,812 | -0.8% | 16.12% | +3.2% |
| WFC | Sell | WELLS FARGO & CO | $14,745,000 | -7.4% | 284,262 | -6.2% | 10.20% | -1.2% |
| CNA | Sell | CNA FINL CORP | $12,922,000 | -7.3% | 339,788 | -1.5% | 8.94% | -1.1% |
| AXP | Sell | AMERICAN EXPRESS CO | $6,140,000 | -10.2% | 70,137 | -2.6% | 4.25% | -4.1% |
| USB | Sell | US BANCORP DEL | $4,507,000 | -4.8% | 107,747 | -1.4% | 3.12% | +1.6% |
| SPLS | Buy | STAPLES INC | $3,491,000 | +11.9% | 288,505 | +0.3% | 2.41% | +19.4% |
| MDC | Buy | M D C HLDGS INC | $3,473,000 | +45.4% | 137,160 | +74.0% | 2.40% | +55.2% |
| LUK | New | LEUCADIA NATL CORP | $1,505,000 | – | 63,130 | – | 1.04% | – |
| BBY | Exit | BEST BUY INC | $0 | – | -49,104 | – | -0.99% | – |
| DFZ | Exit | BARRY R G CORP OHIO | $0 | – | -599,668 | – | -7.36% | – |
Q2 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKB | New | BERKSHIRE HATHAWAY CL B | $34,357,000 | – | 271,468 | – | 22.26% | – |
| GS | New | GOLDMAN SACHS GROUP INC | $32,193,000 | – | 192,265 | – | 20.86% | – |
| SBUX | New | STARBUCKS CORP | $24,089,000 | – | 311,312 | – | 15.61% | – |
| WFC | New | WELLS FARGO & CO | $15,927,000 | – | 303,027 | – | 10.32% | – |
| CNA | New | CNA FINL CORP | $13,936,000 | – | 344,788 | – | 9.03% | – |
| DFZ | New | BARRY R G CORP OHIO | $11,364,000 | – | 599,668 | – | 7.36% | – |
| AXP | New | AMERICAN EXPRESS CO | $6,834,000 | – | 72,037 | – | 4.43% | – |
| USB | New | US BANCORP DEL | $4,735,000 | – | 109,297 | – | 3.07% | – |
| SPLS | New | STAPLES INC | $3,119,000 | – | 287,755 | – | 2.02% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $3,038,000 | – | 16 | – | 1.97% | – |
| MDC | New | M D C HLDGS INC | $2,388,000 | – | 78,825 | – | 1.55% | – |
| BBY | New | BEST BUY INC | $1,523,000 | – | 49,104 | – | 0.99% | – |
| MKL | New | MARKEL CORP | $459,000 | – | 700 | – | 0.30% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $349,000 | – | 4,400 | – | 0.23% | – |
Q4 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ODP | Exit | OFFICE DEPOT INC | $0 | – | -10,000 | – | -0.03% | – |
| ADP | Exit | AUTOMATIC DATA PROCESSING IN | $0 | – | -4,400 | – | -0.21% | – |
| MKL | Exit | MARKEL CORP | $0 | – | -700 | – | -0.24% | – |
| BRKA | Exit | BERKSHIRE HATHAWAY CL A | $0 | – | -13 | – | -1.45% | – |
| USB | Exit | US BANCORP DEL | $0 | – | -121,335 | – | -2.91% | – |
| BBY | Exit | BEST BUY INC | $0 | – | -180,702 | – | -4.44% | – |
| AXP | Exit | AMERICAN EXPRESS CO | $0 | – | -99,892 | – | -4.94% | – |
| DFZ | Exit | BARRY R G CORP OHIO | $0 | – | -627,273 | – | -7.77% | – |
| CNA | Exit | CNA FINL CORP | $0 | – | -398,409 | – | -9.97% | – |
| WFC | Exit | WELLS FARGO & CO | $0 | – | -415,271 | – | -11.24% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -314,513 | – | -15.86% | – |
| BRKB | Exit | BERKSHIRE HATHAWAY CL B | $0 | – | -271,668 | – | -20.21% | – |
| GS | Exit | GOLDMAN SACHS GROUP INC | $0 | – | -199,791 | – | -20.72% | – |
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| GS | Sell | GOLDMAN SACHS GROUP INC | $31,609,000 | +2.0% | 199,791 | -2.5% | 20.72% | +5.9% |
| BRKB | Sell | BERKSHIRE HATHAWAY CL B | $30,837,000 | -0.1% | 271,668 | -1.5% | 20.21% | +3.7% |
| SBUX | Sell | STARBUCKS CORP | $24,208,000 | +3.5% | 314,513 | -11.9% | 15.86% | +7.4% |
| WFC | Sell | WELLS FARGO & CO | $17,159,000 | -7.9% | 415,271 | -8.0% | 11.24% | -4.4% |
| CNA | Sell | CNA FINL CORP | $15,211,000 | +11.7% | 398,409 | -4.6% | 9.97% | +15.9% |
| DFZ | Sell | BARRY R G CORP OHIO | $11,862,000 | -28.9% | 627,273 | -39.0% | 7.77% | -26.2% |
| AXP | Sell | AMERICAN EXPRESS CO | $7,544,000 | -8.4% | 99,892 | -9.3% | 4.94% | -4.9% |
| BBY | Sell | BEST BUY INC | $6,776,000 | -14.6% | 180,702 | -37.8% | 4.44% | -11.4% |
| USB | Sell | US BANCORP DEL | $4,438,000 | -3.6% | 121,335 | -4.7% | 2.91% | +0.1% |
| BRKA | Sell | BERKSHIRE HATHAWAY CL A | $2,215,000 | -17.9% | 13 | -18.8% | 1.45% | -14.8% |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| GS | New | GOLDMAN SACHS GROUP INC | $30,988,000 | – | 204,881 | – | 19.57% | – |
| BRKB | New | BERKSHIRE HATHAWAY CL B | $30,872,000 | – | 275,843 | – | 19.49% | – |
| SBUX | New | STARBUCKS CORP | $23,397,000 | – | 357,158 | – | 14.77% | – |
| WFC | New | WELLS FARGO & CO | $18,627,000 | – | 451,354 | – | 11.76% | – |
| DFZ | New | BARRY R G CORP OHIO | $16,694,000 | – | 1,027,980 | – | 10.54% | – |
| CNA | New | CNA FINL CORP | $13,617,000 | – | 417,434 | – | 8.60% | – |
| AXP | New | AMERICAN EXPRESS CO | $8,236,000 | – | 110,167 | – | 5.20% | – |
| BBY | New | BEST BUY INC | $7,936,000 | – | 290,367 | – | 5.01% | – |
| USB | New | US BANCORP DEL | $4,603,000 | – | 127,335 | – | 2.91% | – |
| BRKA | New | BERKSHIRE HATHAWAY CL A | $2,698,000 | – | 16 | – | 1.70% | – |
| MKL | New | MARKEL CORP | $369,000 | – | 700 | – | 0.23% | – |
| ADP | New | AUTOMATIC DATA PROCESSING IN | $303,000 | – | 4,400 | – | 0.19% | – |
| ODP | New | OFFICE DEPOT INC | $39,000 | – | 10,000 | – | 0.02% | – |