Q3 2023
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
ACGL | Sell | Arch Capital Group Ltd | $450,619,601 | +3.4% | 5,653,238 | -2.9% | 11.14% | -1.6% |
ROST | Buy | Ross Stores Inc | $391,102,556 | +3.1% | 3,462,617 | +2.4% | 9.67% | -1.9% |
AZO | Buy | AutoZone Inc. | $377,475,534 | +4.7% | 148,613 | +2.7% | 9.34% | -0.4% |
TJX | Buy | TJX Companies Inc | $280,430,006 | +7.1% | 3,155,153 | +2.1% | 6.94% | +1.9% |
GS | Buy | Goldman Sachs Group Inc | $263,199,150 | +2.8% | 813,423 | +2.5% | 6.51% | -2.1% |
ORLY | Buy | O'Reilly Automotive Inc | $239,697,283 | -2.6% | 263,734 | +2.4% | 5.93% | -7.3% |
DPZ | Buy | Domino's Pizza Inc | $239,682,512 | +14.3% | 632,758 | +1.6% | 5.93% | +8.7% |
CMI | Buy | Cummins Inc | $209,778,799 | -4.4% | 918,230 | +2.6% | 5.19% | -9.1% |
MA | Buy | Mastercard Inc Class A | $191,129,678 | +3.1% | 482,760 | +2.4% | 4.73% | -1.9% |
V | Buy | Visa Inc Cl A | $188,389,854 | -0.8% | 819,051 | +2.4% | 4.66% | -5.6% |
EXPD | Buy | Expeditors International of Wa | $183,970,347 | -3.3% | 1,604,906 | +2.2% | 4.55% | -8.0% |
NVR | Buy | NVR Inc | $173,818,268 | -3.9% | 29,148 | +2.3% | 4.30% | -8.6% |
PGR | Buy | Progressive Corp | $158,819,992 | +7.3% | 1,140,129 | +2.0% | 3.93% | +2.1% |
STRA | Buy | Strategic Education Inc | $154,008,029 | +11.4% | 2,046,618 | +0.4% | 3.81% | +6.0% |
MCO | Buy | Moody's Corp. | $144,929,097 | -6.8% | 458,390 | +2.5% | 3.58% | -11.3% |
DFS | Buy | Discover Financial Services | $117,719,947 | -3.7% | 1,358,882 | +29.8% | 2.91% | -8.4% |
DIS | New | Disney (Walt) Company | $114,591,327 | – | 1,413,835 | – | 2.83% | – |
FAST | Buy | Fastenal Co | $95,411,859 | -5.0% | 1,746,191 | +2.5% | 2.36% | -9.6% |
UNP | Buy | Union Pacific Corporation | $63,344,124 | +2.5% | 311,075 | +3.0% | 1.57% | -2.5% |
VGSH | Sell | Vanguard Scottsdale Fdsshort term treas | $1,902,643 | -24.6% | 33,032 | -24.4% | 0.05% | -28.8% |
Sell | Wisdomtree Trfloating rat trea | $329,143 | -2.8% | 6,541 | -2.8% | 0.01% | -11.1% |
Q2 2023
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
ACGL | New | Arch Capital Group Ltd | $435,749,529 | – | 5,821,637 | – | 11.33% | – |
ROST | New | Ross Stores Inc | $379,195,455 | – | 3,381,748 | – | 9.86% | – |
AZO | New | AutoZone Inc. | $360,701,924 | – | 144,665 | – | 9.38% | – |
TJX | New | TJX Companies Inc | $261,951,420 | – | 3,089,414 | – | 6.81% | – |
GS | New | Goldman Sachs Group Inc | $255,908,839 | – | 793,417 | – | 6.65% | – |
ORLY | New | O'Reilly Automotive Inc | $246,145,464 | – | 257,663 | – | 6.40% | – |
CMI | New | Cummins Inc | $219,509,568 | – | 895,373 | – | 5.70% | – |
DPZ | New | Domino's Pizza Inc | $209,775,992 | – | 622,499 | – | 5.45% | – |
EXPD | New | Expeditors International of Wa | $190,223,128 | – | 1,570,405 | – | 4.94% | – |
V | New | Visa Inc Cl A | $189,891,765 | – | 799,612 | – | 4.94% | – |
MA | New | Mastercard Inc Class A | $185,416,731 | – | 471,438 | – | 4.82% | – |
NVR | New | NVR Inc | $180,859,307 | – | 28,479 | – | 4.70% | – |
MCO | New | Moody's Corp. | $155,463,092 | – | 447,093 | – | 4.04% | – |
PGR | New | Progressive Corp | $147,976,709 | – | 1,117,902 | – | 3.85% | – |
STRA | New | Strategic Education Inc | $138,266,926 | – | 2,038,133 | – | 3.59% | – |
DFS | New | Discover Financial Services | $122,295,327 | – | 1,046,601 | – | 3.18% | – |
FAST | New | Fastenal Co | $100,459,872 | – | 1,702,998 | – | 2.61% | – |
UNP | New | Union Pacific Corporation | $61,817,855 | – | 302,111 | – | 1.61% | – |
BIL | New | SPDR Ser Trbloomberg 1-3 mo | $2,952,748 | – | 32,158 | – | 0.08% | – |
VGSH | New | Vanguard Scottsdale Fdsshort term treas | $2,522,974 | – | 43,703 | – | 0.07% | – |
New | Wisdomtree Trfloating rat trea | $338,704 | – | 6,731 | – | 0.01% | – |
Q4 2022
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
BIL | Exit | SPDR Ser Trbloomberg 1-3 mo | $0 | – | -32,158 | – | -0.11% | – |
VGSH | Exit | Vanguard Scottsdale Fdsshort term treas | $0 | – | -60,963 | – | -0.13% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -284,406 | – | -2.09% | – |
FAST | Exit | Fastenal Co | $0 | – | -1,591,636 | – | -2.76% | – |
MCO | Exit | Moody's Corp. | $0 | – | -314,106 | – | -2.88% | – |
NVR | Exit | NVR Inc | $0 | – | -26,693 | – | -4.01% | – |
STRA | Exit | Strategic Education Inc | $0 | – | -2,010,048 | – | -4.65% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -447,645 | – | -4.79% | – |
EXPD | Exit | Expeditors International of Wa | $0 | – | -1,477,424 | – | -4.91% | – |
PGR | Exit | Progressive Corp | $0 | – | -1,139,585 | – | -4.99% | – |
V | Exit | Visa Inc Cl A | $0 | – | -754,612 | – | -5.05% | – |
DPZ | Exit | Domino's Pizza Inc | $0 | – | -471,641 | – | -5.51% | – |
ORLY | Exit | O'Reilly Automotive Inc | $0 | – | -240,991 | – | -6.38% | – |
CMI | Exit | Cummins Inc | $0 | – | -847,668 | – | -6.50% | – |
TJX | Exit | TJX Companies Inc | $0 | – | -2,913,370 | – | -6.82% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -726,652 | – | -8.02% | – |
ROST | Exit | Ross Stores Inc | $0 | – | -3,025,503 | – | -9.60% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -5,645,439 | – | -9.68% | – |
AZO | Exit | AutoZone Inc. | $0 | – | -137,882 | – | -11.12% | – |
Q3 2022
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
AZO | Sell | AutoZone Inc. | $295,334,000 | -1.9% | 137,882 | -1.6% | 11.12% | -2.2% |
ACGL | Sell | Arch Capital Group Ltd | $257,093,000 | -1.4% | 5,645,439 | -1.5% | 9.68% | -1.7% |
ROST | Buy | Ross Stores Inc | $254,959,000 | +32.4% | 3,025,503 | +10.3% | 9.60% | +31.9% |
GS | Sell | Goldman Sachs Group Inc | $212,945,000 | -2.8% | 726,652 | -1.5% | 8.02% | -3.1% |
TJX | Sell | TJX Companies Inc | $180,979,000 | +10.4% | 2,913,370 | -0.8% | 6.82% | +10.0% |
CMI | Sell | Cummins Inc | $172,509,000 | +4.3% | 847,668 | -0.8% | 6.50% | +4.0% |
ORLY | Sell | O'Reilly Automotive Inc | $169,501,000 | +9.7% | 240,991 | -1.4% | 6.38% | +9.4% |
DPZ | Buy | Domino's Pizza Inc | $146,303,000 | -9.3% | 471,641 | +14.0% | 5.51% | -9.6% |
V | Sell | Visa Inc Cl A | $134,057,000 | -10.6% | 754,612 | -0.9% | 5.05% | -10.9% |
PGR | Sell | Progressive Corp | $132,431,000 | -1.3% | 1,139,585 | -1.2% | 4.99% | -1.6% |
EXPD | Buy | Expeditors International of Wa | $130,471,000 | +1.2% | 1,477,424 | +11.7% | 4.91% | +0.9% |
MA | Sell | Mastercard Inc Class A | $127,283,000 | -10.8% | 447,645 | -1.0% | 4.79% | -11.0% |
STRA | Sell | Strategic Education Inc | $123,437,000 | -13.9% | 2,010,048 | -1.0% | 4.65% | -14.1% |
NVR | Buy | NVR Inc | $106,427,000 | +12.6% | 26,693 | +13.1% | 4.01% | +12.3% |
MCO | Sell | Moody's Corp. | $76,362,000 | -11.2% | 314,106 | -0.7% | 2.88% | -11.5% |
FAST | Sell | Fastenal Co | $73,279,000 | -8.7% | 1,591,636 | -1.0% | 2.76% | -9.0% |
UNP | Sell | Union Pacific Corporation | $55,408,000 | -9.9% | 284,406 | -1.3% | 2.09% | -10.2% |
VGSH | Sell | Vanguard Scottsdale Fdsshort term treas | $3,523,052 | -6.6% | 60,963 | -4.8% | 0.13% | -6.3% |
BIL | Sell | SPDR Ser Trbloomberg 1-3 mo | $2,945,673 | -6.6% | 32,158 | -6.7% | 0.11% | -6.7% |
Q2 2022
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
AZO | New | AutoZone Inc. | $301,096,000 | – | 140,102 | – | 11.38% | – |
ACGL | New | Arch Capital Group Ltd | $260,624,000 | – | 5,729,269 | – | 9.85% | – |
GS | New | Goldman Sachs Group Inc | $219,027,000 | – | 737,414 | – | 8.28% | – |
ROST | New | Ross Stores Inc | $192,632,000 | – | 2,742,880 | – | 7.28% | – |
CMI | New | Cummins Inc | $165,396,000 | – | 854,628 | – | 6.25% | – |
TJX | New | TJX Companies Inc | $163,991,000 | – | 2,936,269 | – | 6.20% | – |
DPZ | New | Domino's Pizza Inc | $161,235,000 | – | 413,730 | – | 6.09% | – |
ORLY | New | O'Reilly Automotive Inc | $154,443,000 | – | 244,464 | – | 5.84% | – |
V | New | Visa Inc Cl A | $149,933,000 | – | 761,507 | – | 5.66% | – |
STRA | New | Strategic Education Inc | $143,288,000 | – | 2,030,150 | – | 5.41% | – |
MA | New | Mastercard Inc Class A | $142,628,000 | – | 452,100 | – | 5.39% | – |
PGR | New | Progressive Corp | $134,144,000 | – | 1,153,730 | – | 5.07% | – |
EXPD | New | Expeditors International of Wa | $128,908,000 | – | 1,322,679 | – | 4.87% | – |
NVR | New | NVR Inc | $94,478,000 | – | 23,595 | – | 3.57% | – |
MCO | New | Moody's Corp. | $86,022,000 | – | 316,292 | – | 3.25% | – |
FAST | New | Fastenal Co | $80,247,000 | – | 1,607,518 | – | 3.03% | – |
UNP | New | Union Pacific Corporation | $61,468,000 | – | 288,205 | – | 2.32% | – |
VGSH | New | Vanguard Scottsdale Fdsshort term treas | $3,770,748 | – | 64,063 | – | 0.14% | – |
BIL | New | SPDR Ser Trbloomberg 1-3 mo | $3,152,746 | – | 34,460 | – | 0.12% | – |
Q4 2021
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
BIL | Exit | SPDR Ser Trbloomberg 1-3 mo | $0 | – | -45,366 | – | -0.18% | – |
VGSH | Exit | Vanguard Scottsdale Fdsshort term treas | $0 | – | -117,310 | – | -0.31% | – |
TJX | Exit | TJX Companies Inc | $0 | – | -390,014 | – | -1.12% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -345,496 | – | -2.96% | – |
NVR | Exit | NVR Inc | $0 | – | -14,975 | – | -3.13% | – |
FAST | Exit | Fastenal Co | $0 | – | -1,620,365 | – | -3.65% | – |
PGR | Exit | Progressive Corp | $0 | – | -1,148,089 | – | -4.53% | – |
STRA | Exit | Strategic Education Inc | $0 | – | -1,521,214 | – | -4.68% | – |
MCO | Exit | Moody's Corp. | $0 | – | -313,232 | – | -4.86% | – |
ROST | Exit | Ross Stores Inc | $0 | – | -1,373,977 | – | -6.53% | – |
ORLY | Exit | O'Reilly Automotive Inc | $0 | – | -246,629 | – | -6.58% | – |
EXPD | Exit | Expeditors International of Wa | $0 | – | -1,323,375 | – | -6.88% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -458,601 | – | -6.96% | – |
V | Exit | Visa Inc Cl A | $0 | – | -761,322 | – | -7.40% | – |
CMI | Exit | Cummins Inc | $0 | – | -857,210 | – | -8.40% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -5,737,455 | – | -9.56% | – |
AZO | Exit | Autozone Inc. | $0 | – | -143,837 | – | -10.66% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -703,687 | – | -11.61% | – |
Q3 2021
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
GS | Sell | Goldman Sachs Group Inc | $266,015,000 | -1.5% | 703,687 | -1.1% | 11.61% | +4.7% |
AZO | Sell | Autozone Inc. | $244,234,000 | +12.5% | 143,837 | -1.2% | 10.66% | +19.6% |
ACGL | Sell | Arch Capital Group Ltd | $219,056,000 | -2.9% | 5,737,455 | -0.9% | 9.56% | +3.3% |
CMI | Sell | Cummins Inc | $192,495,000 | -8.9% | 857,210 | -1.1% | 8.40% | -3.2% |
V | Sell | Visa Inc Cl A | $169,584,000 | -5.7% | 761,322 | -1.0% | 7.40% | +0.3% |
MA | Sell | Mastercard Inc Class A | $159,446,000 | -5.3% | 458,601 | -0.6% | 6.96% | +0.6% |
EXPD | Sell | Expeditors International of Wa | $157,654,000 | -6.8% | 1,323,375 | -1.0% | 6.88% | -0.9% |
ORLY | Sell | O'Reilly Automotive Inc | $150,705,000 | +6.9% | 246,629 | -1.0% | 6.58% | +13.6% |
ROST | Sell | Ross Stores Inc | $149,557,000 | -13.1% | 1,373,977 | -1.0% | 6.53% | -7.7% |
MCO | Sell | Moody's Corp. | $111,232,000 | -51.5% | 313,232 | -50.5% | 4.86% | -48.4% |
STRA | Buy | Strategic Education Inc | $107,246,000 | -4.8% | 1,521,214 | +2.7% | 4.68% | +1.2% |
PGR | Buy | Progressive Corp | $103,776,000 | +124.8% | 1,148,089 | +144.3% | 4.53% | +139.0% |
FAST | Sell | Fastenal Co | $83,627,000 | -1.5% | 1,620,365 | -0.7% | 3.65% | +4.8% |
NVR | Sell | NVR Inc | $71,791,000 | -4.3% | 14,975 | -0.7% | 3.13% | +1.8% |
UNP | Sell | Union Pacific Corporation | $67,721,000 | -11.4% | 345,496 | -0.6% | 2.96% | -5.9% |
TJX | Sell | TJX Companies Inc | $25,733,000 | -2.9% | 390,014 | -0.8% | 1.12% | +3.2% |
VGSH | Buy | Vanguard Scottsdale Fdsshort term treas | $7,204,007 | +5.5% | 117,310 | +5.5% | 0.31% | +12.1% |
BIL | Buy | SPDR Ser Trbloomberg 1-3 mo | $4,149,174 | +31.8% | 45,366 | +31.8% | 0.18% | +40.3% |
WAT | Exit | Waters Corp | $0 | – | -58,555 | – | -0.83% | – |
Q2 2021
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
GS | New | Goldman Sachs Group Inc | $270,077,000 | – | 711,609 | – | 11.09% | – |
MCO | New | Moody's Corp. | $229,234,000 | – | 632,596 | – | 9.41% | – |
ACGL | New | Arch Capital Group Ltd | $225,549,000 | – | 5,792,222 | – | 9.26% | – |
AZO | New | Autozone Inc. | $217,140,000 | – | 145,515 | – | 8.92% | – |
CMI | New | Cummins Inc | $211,307,000 | – | 866,688 | – | 8.68% | – |
V | New | Visa Inc Cl A | $179,760,000 | – | 768,795 | – | 7.38% | – |
ROST | New | Ross Stores Inc | $172,142,000 | – | 1,388,241 | – | 7.07% | – |
EXPD | New | Expeditors International of Washington | $169,149,000 | – | 1,336,089 | – | 6.94% | – |
MA | New | Mastercard Inc Class A | $168,421,000 | – | 461,313 | – | 6.92% | – |
ORLY | New | O'Reilly Automotive Inc | $141,034,000 | – | 249,084 | – | 5.79% | – |
STRA | New | Strategic Education Inc | $112,615,000 | – | 1,480,603 | – | 4.62% | – |
FAST | New | Fastenal Co | $84,860,000 | – | 1,631,920 | – | 3.48% | – |
UNP | New | Union Pacific Corporation | $76,467,000 | – | 347,687 | – | 3.14% | – |
NVR | New | NVR Inc | $74,982,000 | – | 15,077 | – | 3.08% | – |
PGR | New | Progressive Corp | $46,155,000 | – | 469,966 | – | 1.90% | – |
TJX | New | TJX Companies Inc | $26,497,000 | – | 393,017 | – | 1.09% | – |
WAT | New | Waters Corp | $20,237,000 | – | 58,555 | – | 0.83% | – |
VGSH | New | Vanguard Scottsdale Fdsshort term treas | $6,831,139 | – | 111,202 | – | 0.28% | – |
BIL | New | SPDR Ser Trbloomberg 1-3 mo | $3,148,123 | – | 34,417 | – | 0.13% | – |
Q4 2020
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
BIL | Exit | SPDR Ser Trbloomberg 1-3 mo | $0 | – | -17,878 | – | -0.08% | – |
VGSH | Exit | Vanguard Scottsdale Fdsshort term treas | $0 | – | -91,764 | – | -0.27% | – |
WAT | Exit | Waters Corp | $0 | – | -59,032 | – | -0.56% | – |
TJX | Exit | TJX Companies Inc | $0 | – | -377,772 | – | -1.01% | – |
NVR | Exit | NVR Inc | $0 | – | -15,123 | – | -2.97% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -345,990 | – | -3.27% | – |
FAST | Exit | Fastenal Co | $0 | – | -1,659,398 | – | -3.59% | – |
STRA | Exit | Strategic Education Inc | $0 | – | -872,465 | – | -3.83% | – |
CMG | Exit | Chipotle Mexican Grill Cl A | $0 | – | -64,491 | – | -3.85% | – |
ORLY | Exit | O'Reilly Automotive Inc | $0 | – | -248,494 | – | -5.50% | – |
EXPD | Exit | Expeditors International of Washington | $0 | – | -1,325,950 | – | -5.76% | – |
ROST | Exit | Ross Stores Inc | $0 | – | -1,340,246 | – | -6.01% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -672,442 | – | -6.49% | – |
V | Exit | Visa Inc Cl A | $0 | – | -731,959 | – | -7.03% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -5,499,729 | – | -7.73% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -475,959 | – | -7.73% | – |
AZO | Exit | Autozone Inc. | $0 | – | -145,286 | – | -8.22% | – |
DE | Exit | Deere & Co. | $0 | – | -785,100 | – | -8.36% | – |
CMI | Exit | Cummins Inc | $0 | – | -852,064 | – | -8.64% | – |
MCO | Exit | Moody's Corp. | $0 | – | -652,920 | – | -9.09% | – |
Q3 2020
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | Sell | Moody's Corp. | $189,249,000 | +4.7% | 652,920 | -0.8% | 9.09% | -3.0% |
CMI | Sell | Cummins Inc | $179,922,000 | +20.9% | 852,064 | -0.8% | 8.64% | +12.0% |
DE | Sell | Deere & Co. | $174,002,000 | +39.8% | 785,100 | -0.9% | 8.36% | +29.5% |
AZO | Sell | Autozone Inc. | $171,095,000 | +3.8% | 145,286 | -0.6% | 8.22% | -3.9% |
MA | Sell | Mastercard Inc Class A | $160,955,000 | +13.4% | 475,959 | -0.9% | 7.73% | +5.0% |
ACGL | Buy | Arch Capital Group Ltd | $160,867,000 | +3.9% | 5,499,729 | +1.8% | 7.73% | -3.8% |
V | Sell | Visa Inc Cl A | $146,370,000 | +2.7% | 731,959 | -0.8% | 7.03% | -4.9% |
GS | Buy | Goldman Sachs Group Inc | $135,141,000 | +6.0% | 672,442 | +4.2% | 6.49% | -1.9% |
ROST | Sell | Ross Stores Inc | $125,072,000 | +8.9% | 1,340,246 | -0.5% | 6.01% | +0.9% |
EXPD | Sell | Expeditors International of Washington | $120,025,000 | +18.1% | 1,325,950 | -0.8% | 5.76% | +9.4% |
ORLY | Sell | O'Reilly Automotive Inc | $114,576,000 | +8.8% | 248,494 | -0.5% | 5.50% | +0.8% |
CMG | Sell | Chipotle Mexican Grill Cl A | $80,208,000 | -45.3% | 64,491 | -53.7% | 3.85% | -49.4% |
STRA | Buy | Strategic Education Inc | $79,804,000 | +52.4% | 872,465 | +156.0% | 3.83% | +41.1% |
FAST | Sell | Fastenal Co | $74,822,000 | -5.9% | 1,659,398 | -10.6% | 3.59% | -12.9% |
UNP | Sell | Union Pacific Corporation | $68,115,000 | +15.7% | 345,990 | -0.6% | 3.27% | +7.1% |
NVR | Sell | NVR Inc | $61,749,000 | +24.5% | 15,123 | -0.6% | 2.97% | +15.3% |
TJX | Sell | TJX Companies Inc | $21,023,000 | +9.6% | 377,772 | -0.4% | 1.01% | +1.5% |
WAT | Sell | Waters Corp | $11,551,000 | +8.3% | 59,032 | -0.2% | 0.56% | +0.4% |
VGSH | Buy | Vanguard Scottsdale Fdsshort term treas | $5,697,627 | +101.2% | 91,764 | +101.6% | 0.27% | +86.4% |
BIL | Buy | SPDR Ser Trbloomberg 1-3 mo | $1,636,194 | +137.1% | 17,878 | +137.1% | 0.08% | +119.4% |
Q2 2020
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | New | Moody's Corp. | $180,735,000 | – | 657,864 | – | 9.38% | – |
AZO | New | Autozone Inc. | $164,812,000 | – | 146,094 | – | 8.55% | – |
ACGL | New | Arch Capital Group Ltd | $154,849,000 | – | 5,404,862 | – | 8.03% | – |
CMI | New | Cummins Inc | $148,816,000 | – | 858,918 | – | 7.72% | – |
CMG | New | Chipotle Mexican Grill Cl A | $146,665,000 | – | 139,368 | – | 7.61% | – |
V | New | Visa Inc Cl A | $142,517,000 | – | 737,782 | – | 7.39% | – |
MA | New | Mastercard Inc Class A | $141,954,000 | – | 480,060 | – | 7.36% | – |
GS | New | Goldman Sachs Group Inc | $127,509,000 | – | 645,225 | – | 6.61% | – |
DE | New | Deere & Co. | $124,467,000 | – | 792,029 | – | 6.46% | – |
ROST | New | Ross Stores Inc | $114,833,000 | – | 1,347,177 | – | 5.96% | – |
ORLY | New | O'Reilly Automotive Inc | $105,278,000 | – | 249,670 | – | 5.46% | – |
EXPD | New | Expeditors International of Washington | $101,624,000 | – | 1,336,454 | – | 5.27% | – |
FAST | New | Fastenal Co | $79,553,000 | – | 1,856,976 | – | 4.13% | – |
UNP | New | Union Pacific Corporation | $58,867,000 | – | 348,180 | – | 3.05% | – |
STRA | New | Strategic Education Inc | $52,365,000 | – | 340,805 | – | 2.72% | – |
NVR | New | NVR Inc | $49,582,000 | – | 15,215 | – | 2.57% | – |
TJX | New | TJX Companies Inc | $19,178,000 | – | 379,315 | – | 1.00% | – |
WAT | New | Waters Corp | $10,669,000 | – | 59,143 | – | 0.55% | – |
VGSH | New | Vanguard Scottsdale Fdsshort term treas | $2,831,842 | – | 45,528 | – | 0.15% | – |
BIL | New | SPDR Ser Trbloomberg 1-3 mo | $690,136 | – | 7,540 | – | 0.04% | – |
Q4 2019
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
BIL | Exit | SPDR Ser Trbloomberg 1-3 mo | $0 | – | -8,200 | – | -0.05% | – |
VGSH | Exit | Vanguard Scottsdale Fdsshort term treas | $0 | – | -66,187 | – | -0.25% | – |
WAT | Exit | Waters Corp | $0 | – | -52,775 | – | -0.74% | – |
STRA | Exit | Strategic Education Inc | $0 | – | -309,810 | – | -2.64% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -312,461 | – | -3.18% | – |
NVR | Exit | NVR Inc | $0 | – | -13,919 | – | -3.25% | – |
CMG | Exit | Chipotle Mexican Grill Cl A | $0 | – | -84,802 | – | -4.48% | – |
ROST | Exit | Ross Stores Inc | $0 | – | -692,734 | – | -4.78% | – |
EXPD | Exit | Expeditors International of Washington | $0 | – | -1,069,225 | – | -4.99% | – |
CMI | Exit | Cummins Inc | $0 | – | -512,208 | – | -5.24% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -415,214 | – | -5.41% | – |
ORLY | Exit | O'Reilly Automotive Inc | $0 | – | -221,560 | – | -5.55% | – |
FAST | Exit | Fastenal Co | $0 | – | -2,794,872 | – | -5.74% | – |
V | Exit | Visa Inc Cl A | $0 | – | -575,856 | – | -6.22% | – |
DE | Exit | Deere & Co. | $0 | – | -671,454 | – | -7.12% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -444,402 | – | -7.58% | – |
AZO | Exit | Autozone Inc. | $0 | – | -117,571 | – | -8.01% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -4,348,252 | – | -11.47% | – |
MCO | Exit | Moody's Corp. | $0 | – | -1,033,089 | – | -13.30% | – |
Q3 2019
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | Sell | Moody's Corp. | $211,608,000 | +4.3% | 1,033,089 | -0.5% | 13.30% | +2.6% |
ACGL | Sell | Arch Capital Group Ltd | $182,540,000 | +12.9% | 4,348,252 | -0.3% | 11.47% | +11.0% |
AZO | Sell | Autozone Inc. | $127,520,000 | -1.4% | 117,571 | -0.0% | 8.01% | -3.0% |
MA | Sell | Mastercard Inc Class A | $120,686,000 | +2.3% | 444,402 | -0.3% | 7.58% | +0.6% |
DE | Sell | Deere & Co. | $113,261,000 | +1.6% | 671,454 | -0.2% | 7.12% | -0.1% |
V | Sell | Visa Inc Cl A | $99,053,000 | -0.9% | 575,856 | -0.0% | 6.22% | -2.6% |
FAST | Buy | Fastenal Co | $91,308,000 | +0.4% | 2,794,872 | +0.2% | 5.74% | -1.3% |
ORLY | Sell | O'Reilly Automotive Inc | $88,294,000 | +7.1% | 221,560 | -0.8% | 5.55% | +5.3% |
GS | Buy | Goldman Sachs Group Inc | $86,045,000 | +1.6% | 415,214 | +0.3% | 5.41% | -0.1% |
CMI | Buy | Cummins Inc | $83,321,000 | -4.7% | 512,208 | +0.4% | 5.24% | -6.3% |
EXPD | Buy | Expeditors International of Washington | $79,433,000 | -1.9% | 1,069,225 | +0.2% | 4.99% | -3.5% |
ROST | Sell | Ross Stores Inc | $76,097,000 | +10.8% | 692,734 | -0.0% | 4.78% | +9.0% |
CMG | Sell | Chipotle Mexican Grill Cl A | $71,274,000 | +14.1% | 84,802 | -0.5% | 4.48% | +12.2% |
NVR | Buy | NVR Inc | $51,742,000 | +10.7% | 13,919 | +0.3% | 3.25% | +8.8% |
UNP | Buy | Union Pacific Corporation | $50,612,000 | -4.0% | 312,461 | +0.2% | 3.18% | -5.6% |
STRA | Sell | Strategic Education Inc | $42,097,000 | -38.6% | 309,810 | -19.5% | 2.64% | -39.6% |
WAT | Buy | Waters Corp | $11,781,000 | +4.2% | 52,775 | +0.5% | 0.74% | +2.5% |
YUM | Exit | YUM! Brands Inc | $0 | – | -1,943 | – | -0.01% | – |
Q2 2019
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | New | Moody's Corp. | $202,845,000 | – | 1,038,579 | – | 12.96% | – |
ACGL | New | Arch Capital Group Ltd | $161,670,000 | – | 4,360,020 | – | 10.33% | – |
AZO | New | Autozone Inc. | $129,267,000 | – | 117,572 | – | 8.26% | – |
MA | New | Mastercard Inc Class A | $117,953,000 | – | 445,896 | – | 7.54% | – |
DE | New | Deere & Co. | $111,465,000 | – | 672,650 | – | 7.12% | – |
V | New | Visa Inc Cl A | $99,989,000 | – | 576,141 | – | 6.39% | – |
FAST | New | Fastenal Co | $90,939,000 | – | 2,790,409 | – | 5.81% | – |
CMI | New | Cummins Inc | $87,429,000 | – | 510,267 | – | 5.59% | – |
GS | New | Goldman Sachs Group Inc | $84,666,000 | – | 413,811 | – | 5.41% | – |
ORLY | New | O'Reilly Automotive Inc | $82,465,000 | – | 223,288 | – | 5.27% | – |
EXPD | New | Expeditors International of Washington | $80,934,000 | – | 1,066,882 | – | 5.17% | – |
ROST | New | Ross Stores Inc | $68,682,000 | – | 692,918 | – | 4.39% | – |
STRA | New | Strategic Education Inc | $68,535,000 | – | 385,028 | – | 4.38% | – |
CMG | New | Chipotle Mexican Grill Cl A | $62,457,000 | – | 85,222 | – | 3.99% | – |
UNP | New | Union Pacific Corporation | $52,716,000 | – | 311,727 | – | 3.37% | – |
NVR | New | NVR Inc | $46,749,000 | – | 13,871 | – | 2.99% | – |
WAT | New | Waters Corp | $11,301,000 | – | 52,502 | – | 0.72% | – |
VGSH | New | Vanguard Scottsdale Fdsshort term treas | $4,032,774 | – | 66,187 | – | 0.26% | – |
BIL | New | SPDR Ser Trbloomberg 1-3 mo | $751,202 | – | 8,200 | – | 0.05% | – |
YUM | New | YUM! Brands Inc | $215,000 | – | 1,943 | – | 0.01% | – |
Q4 2018
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
VGSH | Exit | Vanguard Scottsdale Fdsshort term treas | $0 | – | -43,180 | – | -0.16% | – |
WAT | Exit | Waters Corp | $0 | – | -94,124 | – | -1.18% | – |
NVR | Exit | NVR Inc | $0 | – | -14,153 | – | -2.24% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -310,442 | – | -3.24% | – |
STRA | Exit | Strategic Education Inc | $0 | – | -514,120 | – | -4.52% | – |
ROST | Exit | Ross Stores Inc | $0 | – | -718,744 | – | -4.57% | – |
YUM | Exit | YUM! Brands Inc | $0 | – | -789,442 | – | -4.60% | – |
CMI | Exit | Cummins Inc | $0 | – | -527,379 | – | -4.94% | – |
ORLY | Exit | O'Reilly Automotive Inc | $0 | – | -232,668 | – | -5.18% | – |
EXPD | Exit | Expeditors International of Washington | $0 | – | -1,107,014 | – | -5.22% | – |
FAST | Exit | Fastenal Co | $0 | – | -1,452,985 | – | -5.41% | – |
V | Exit | Visa Inc Cl A | $0 | – | -600,810 | – | -5.78% | – |
AZO | Exit | Autozone Inc. | $0 | – | -122,097 | – | -6.07% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -452,054 | – | -6.50% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -470,877 | – | -6.72% | – |
CMG | Exit | Chipotle Mexican Grill Cl A | $0 | – | -232,063 | – | -6.76% | – |
DE | Exit | Deere & Co. | $0 | – | -701,970 | – | -6.77% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -4,441,474 | – | -8.49% | – |
MCO | Exit | Moody's Corp. | $0 | – | -1,085,608 | – | -11.64% | – |
Q3 2018
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | Sell | Moody's Corp. | $181,514,000 | -4.6% | 1,085,608 | -2.7% | 11.64% | -7.9% |
ACGL | Sell | Arch Capital Group Ltd | $132,400,000 | +9.9% | 4,441,474 | -2.4% | 8.49% | +6.2% |
DE | Sell | Deere & Co. | $105,527,000 | +4.9% | 701,970 | -2.5% | 6.77% | +1.3% |
CMG | Sell | Chipotle Mexican Grill Cl A | $105,477,000 | +2.5% | 232,063 | -2.7% | 6.76% | -1.0% |
MA | Sell | Mastercard Inc Class A | $104,822,000 | +10.3% | 470,877 | -2.6% | 6.72% | +6.5% |
GS | Sell | Goldman Sachs Group Inc | $101,369,000 | -0.6% | 452,054 | -2.2% | 6.50% | -4.0% |
AZO | Sell | Autozone Inc. | $94,711,000 | +12.5% | 122,097 | -2.7% | 6.07% | +8.6% |
V | Sell | Visa Inc Cl A | $90,175,000 | +10.2% | 600,810 | -2.8% | 5.78% | +6.4% |
FAST | Sell | Fastenal Co | $84,302,000 | +16.9% | 1,452,985 | -3.0% | 5.41% | +12.9% |
EXPD | Sell | Expeditors International of Washington | $81,399,000 | -1.7% | 1,107,014 | -2.3% | 5.22% | -5.1% |
ORLY | Sell | O'Reilly Automotive Inc | $80,810,000 | +23.9% | 232,668 | -2.4% | 5.18% | +19.7% |
CMI | Sell | Cummins Inc | $77,034,000 | +7.0% | 527,379 | -2.6% | 4.94% | +3.3% |
YUM | Sell | YUM! Brands Inc | $71,768,000 | +12.7% | 789,442 | -3.0% | 4.60% | +8.9% |
ROST | Sell | Ross Stores Inc | $71,228,000 | +13.7% | 718,744 | -2.8% | 4.57% | +9.8% |
STRA | New | Strategic Education Inc | $70,450,000 | – | 514,120 | – | 4.52% | – |
UNP | Sell | Union Pacific Corporation | $50,549,000 | -40.6% | 310,442 | -48.3% | 3.24% | -42.6% |
NVR | Sell | NVR Inc | $34,969,000 | -19.1% | 14,153 | -2.7% | 2.24% | -21.9% |
WAT | Sell | Waters Corp | $18,324,000 | -3.6% | 94,124 | -4.2% | 1.18% | -7.0% |
USB | Exit | US Bancorp | $0 | – | -16,712 | – | -0.06% | – |
STRA | Exit | Strayer Education Inc | $0 | – | -527,115 | – | -3.96% | – |
Q2 2018
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | New | Moody's Corp. | $190,276,000 | – | 1,115,597 | – | 12.63% | – |
ACGL | New | Arch Capital Group Ltd | $120,441,000 | – | 4,551,811 | – | 8.00% | – |
CMG | New | Chipotle Mexican Grill Cl A | $102,912,000 | – | 238,570 | – | 6.83% | – |
GS | New | Goldman Sachs Group Inc | $101,943,000 | – | 462,180 | – | 6.77% | – |
DE | New | Deere & Co. | $100,626,000 | – | 719,785 | – | 6.68% | – |
MA | New | Mastercard Inc Class A | $95,038,000 | – | 483,605 | – | 6.31% | – |
UNP | New | Union Pacific Corporation | $85,039,000 | – | 600,218 | – | 5.65% | – |
AZO | New | Autozone Inc. | $84,198,000 | – | 125,495 | – | 5.59% | – |
EXPD | New | Expeditors International of Wa | $82,845,000 | – | 1,133,306 | – | 5.50% | – |
V | New | Visa Inc Cl A | $81,840,000 | – | 617,894 | – | 5.43% | – |
FAST | New | Fastenal Co | $72,115,000 | – | 1,498,343 | – | 4.79% | – |
CMI | New | Cummins Inc | $71,990,000 | – | 541,276 | – | 4.78% | – |
ORLY | New | O'Reilly Automotive Inc | $65,212,000 | – | 238,373 | – | 4.33% | – |
YUM | New | YUM! Brands Inc | $63,662,000 | – | 813,886 | – | 4.23% | – |
ROST | New | Ross Stores Inc | $62,650,000 | – | 739,229 | – | 4.16% | – |
STRA | New | Strayer Education Inc | $59,569,000 | – | 527,115 | – | 3.96% | – |
NVR | New | NVR Inc | $43,222,000 | – | 14,551 | – | 2.87% | – |
WAT | New | Waters Corp | $19,015,000 | – | 98,221 | – | 1.26% | – |
VGSH | New | Vanguard Scottsdale Fdsshort term treas | $2,587,346 | – | 43,180 | – | 0.17% | – |
USB | New | US Bancorp | $836,000 | – | 16,712 | – | 0.06% | – |
Q4 2017
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
WAT | Exit | Waters Corp | $0 | – | -102,090 | – | -1.22% | – |
STRA | Exit | Strayer Education Inc | $0 | – | -550,978 | – | -3.19% | – |
ROST | Exit | Ross Stores Inc | $0 | – | -766,572 | – | -3.28% | – |
ORLY | Exit | O'Reilly Automotive Inc | $0 | – | -235,543 | – | -3.37% | – |
USB | Exit | US Bancorp | $0 | – | -1,045,429 | – | -3.72% | – |
CMG | Exit | Chipotle Mexican Grill Cl A | $0 | – | -197,591 | – | -4.04% | – |
YUM | Exit | YUM! Brands Inc | $0 | – | -855,380 | – | -4.18% | – |
V | Exit | Visa Inc Cl A | $0 | – | -648,088 | – | -4.52% | – |
EXPD | Exit | Expeditors International of Washington | $0 | – | -1,181,282 | – | -4.69% | – |
FAST | Exit | Fastenal Co | $0 | – | -1,568,518 | – | -4.74% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -510,847 | – | -4.79% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -628,914 | – | -4.84% | – |
AZO | Exit | Autozone Inc. | $0 | – | -129,692 | – | -5.12% | – |
DE | Exit | Deere & Co. | $0 | – | -756,633 | – | -6.30% | – |
CMI | Exit | Cummins Inc | $0 | – | -565,735 | – | -6.31% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -483,040 | – | -7.60% | – |
NVR | Exit | NVR Inc. | $0 | – | -43,019 | – | -8.15% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -1,385,568 | – | -9.06% | – |
MCO | Exit | Moody's Corp. | $0 | – | -1,179,617 | – | -10.90% | – |
Q3 2017
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | Sell | Moody's Corp. | $164,215,000 | +12.6% | 1,179,617 | -1.5% | 10.90% | +0.1% |
ACGL | Sell | Arch Capital Group Ltd | $136,478,000 | +4.0% | 1,385,568 | -1.5% | 9.06% | -7.6% |
NVR | Sell | NVR Inc. | $122,819,000 | +14.5% | 43,019 | -3.3% | 8.15% | +1.7% |
GS | Sell | Goldman Sachs Group Inc | $114,572,000 | +5.5% | 483,040 | -1.3% | 7.60% | -6.3% |
CMI | Sell | Cummins Inc | $95,060,000 | +1.8% | 565,735 | -1.7% | 6.31% | -9.6% |
DE | Sell | Deere & Co. | $95,026,000 | +0.2% | 756,633 | -1.4% | 6.30% | -11.0% |
AZO | Buy | Autozone Inc. | $77,181,000 | +80.5% | 129,692 | +73.1% | 5.12% | +60.4% |
UNP | Sell | Union Pacific Corporation | $72,935,000 | +4.9% | 628,914 | -1.5% | 4.84% | -6.8% |
MA | Sell | Mastercard Inc Class A | $72,132,000 | +14.5% | 510,847 | -1.5% | 4.79% | +1.7% |
FAST | Sell | Fastenal Co | $71,493,000 | +3.3% | 1,568,518 | -1.3% | 4.74% | -8.2% |
EXPD | Sell | Expeditors International of Washington | $70,712,000 | +4.7% | 1,181,282 | -1.2% | 4.69% | -7.0% |
V | Sell | Visa Inc Cl A | $68,205,000 | +10.8% | 648,088 | -1.3% | 4.52% | -1.6% |
YUM | Sell | YUM! Brands Inc | $62,965,000 | -1.8% | 855,380 | -1.6% | 4.18% | -12.7% |
CMG | Buy | Chipotle Mexican Grill Cl A | $60,824,000 | +29.9% | 197,591 | +75.7% | 4.04% | +15.4% |
USB | Sell | US Bancorp | $56,025,000 | +2.1% | 1,045,429 | -1.1% | 3.72% | -9.3% |
ORLY | New | O'Reilly Automotive Inc | $50,729,000 | – | 235,543 | – | 3.37% | – |
ROST | Sell | Ross Stores Inc | $49,498,000 | +10.9% | 766,572 | -0.9% | 3.28% | -1.5% |
STRA | Sell | Strayer Education Inc | $48,084,000 | -7.4% | 550,978 | -1.1% | 3.19% | -17.7% |
WAT | Sell | Waters Corp | $18,327,000 | -3.4% | 102,090 | -1.1% | 1.22% | -14.2% |
YUMC | Exit | YUM! China Holdings Inc. | $0 | – | -15 | – | 0.00% | – |
WFC | Exit | Wells Fargo & Company | $0 | – | -6 | – | 0.00% | – |
CPLA | Exit | Capella Education Co | $0 | – | -35,326 | – | -0.23% | – |
Q2 2017
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | New | Moody's Corp. | $145,777,000 | – | 1,198,036 | – | 10.89% | – |
ACGL | New | Arch Capital Group Ltd | $131,205,000 | – | 1,406,422 | – | 9.80% | – |
GS | New | Goldman Sachs Group Inc | $108,605,000 | – | 489,431 | – | 8.11% | – |
NVR | New | NVR Inc. | $107,282,000 | – | 44,504 | – | 8.01% | – |
DE | New | Deere & Co. | $94,824,000 | – | 767,246 | – | 7.08% | – |
CMI | New | Cummins Inc | $93,370,000 | – | 575,579 | – | 6.97% | – |
UNP | New | Union Pacific Corporation | $69,529,000 | – | 638,404 | – | 5.19% | – |
FAST | New | Fastenal Co | $69,176,000 | – | 1,589,161 | – | 5.17% | – |
EXPD | New | Expeditors International of Washington | $67,512,000 | – | 1,195,317 | – | 5.04% | – |
YUM | New | YUM! Brands Inc | $64,087,000 | – | 868,861 | – | 4.79% | – |
MA | New | Mastercard Inc Class A | $62,989,000 | – | 518,638 | – | 4.70% | – |
V | New | Visa Inc Cl A | $61,559,000 | – | 656,420 | – | 4.60% | – |
USB | New | US Bancorp | $54,878,000 | – | 1,056,981 | – | 4.10% | – |
STRA | New | Strayer Education Inc | $51,915,000 | – | 556,904 | – | 3.88% | – |
CMG | New | Chipotle Mexican Grill Cl A | $46,807,000 | – | 112,490 | – | 3.50% | – |
ROST | New | Ross Stores Inc | $44,653,000 | – | 773,477 | – | 3.34% | – |
AZO | New | Autozone Inc. | $42,752,000 | – | 74,943 | – | 3.19% | – |
WAT | New | Waters Corp | $18,972,000 | – | 103,200 | – | 1.42% | – |
CPLA | New | Capella Education Co | $3,024,000 | – | 35,326 | – | 0.23% | – |
WFC | New | Wells Fargo & Company | $0 | – | 6 | – | 0.00% | – |
YUMC | New | YUM! China Holdings Inc. | $0 | – | 15 | – | 0.00% | – |
Q4 2016
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
CPLA | Exit | Capella Education Co | $0 | – | -39,161 | – | -0.18% | – |
WAT | Exit | Waters Corp | $0 | – | -112,708 | – | -1.42% | – |
STRA | Exit | Strayer Education Inc | $0 | – | -768,677 | – | -2.86% | – |
CMG | Exit | Chipotle Mexican Grill Cl A | $0 | – | -87,797 | – | -2.96% | – |
USB | Exit | US Bancorp | $0 | – | -1,157,766 | – | -3.96% | – |
ROST | Exit | Ross Stores Inc | $0 | – | -843,260 | – | -4.32% | – |
V | Exit | Visa Inc Cl A | $0 | – | -671,529 | – | -4.43% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -567,121 | – | -4.60% | – |
EXPD | Exit | Expeditors International of Washington | $0 | – | -1,296,318 | – | -5.33% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -693,946 | – | -5.40% | – |
DE | Exit | Deere & Co. | $0 | – | -838,663 | – | -5.71% | – |
FAST | Exit | Fastenal Co | $0 | – | -1,733,193 | – | -5.77% | – |
WFC | Exit | Wells Fargo & Company | $0 | – | -1,651,488 | – | -5.83% | – |
NVR | Exit | NVR Inc. | $0 | – | -45,716 | – | -5.98% | – |
CMI | Exit | Cummins Inc | $0 | – | -631,379 | – | -6.45% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -538,144 | – | -6.92% | – |
YUM | Exit | YUM! Brands Inc | $0 | – | -969,556 | – | -7.02% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -1,562,239 | – | -9.87% | – |
MCO | Exit | Moody's Corp. | $0 | – | -1,270,447 | – | -10.97% | – |
Q3 2016
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | Sell | Moody's Corp. | $137,564,000 | +4.3% | 1,270,447 | -9.7% | 10.97% | +16.3% |
ACGL | Sell | Arch Capital Group Ltd | $123,823,000 | -1.6% | 1,562,239 | -10.6% | 9.87% | +9.7% |
YUM | Sell | YUM! Brands Inc | $88,045,000 | +3.3% | 969,556 | -5.6% | 7.02% | +15.2% |
GS | Sell | Goldman Sachs Group Inc | $86,786,000 | -3.4% | 538,144 | -11.0% | 6.92% | +7.7% |
CMI | Sell | Cummins Inc | $80,911,000 | +0.8% | 631,379 | -11.5% | 6.45% | +12.4% |
NVR | Sell | NVR Inc. | $74,968,000 | -15.6% | 45,716 | -8.4% | 5.98% | -6.0% |
WFC | Sell | Wells Fargo & Company | $73,128,000 | -18.0% | 1,651,488 | -12.4% | 5.83% | -8.6% |
FAST | Sell | Fastenal Co | $72,413,000 | -16.2% | 1,733,193 | -11.0% | 5.77% | -6.6% |
DE | Sell | Deere & Co. | $71,580,000 | -5.2% | 838,663 | -10.0% | 5.71% | +5.7% |
UNP | Sell | Union Pacific Corporation | $67,681,000 | -2.8% | 693,946 | -13.1% | 5.40% | +8.3% |
EXPD | Sell | Expeditors International of Washington | $66,786,000 | -7.6% | 1,296,318 | -12.0% | 5.33% | +3.0% |
MA | Sell | Mastercard Inc Class A | $57,716,000 | +0.4% | 567,121 | -13.1% | 4.60% | +11.9% |
V | Sell | Visa Inc Cl A | $55,535,000 | -1.7% | 671,529 | -11.9% | 4.43% | +9.5% |
ROST | Sell | Ross Stores Inc | $54,222,000 | +0.6% | 843,260 | -11.3% | 4.32% | +12.2% |
USB | Sell | US Bancorp | $49,657,000 | -6.2% | 1,157,766 | -11.8% | 3.96% | +4.6% |
CMG | Sell | Chipotle Mexican Grill Cl A | $37,182,000 | -2.1% | 87,797 | -6.9% | 2.96% | +9.1% |
STRA | Sell | Strayer Education Inc | $35,882,000 | -5.0% | 768,677 | -0.0% | 2.86% | +5.8% |
WAT | Sell | Waters Corp | $17,863,000 | -9.9% | 112,708 | -20.1% | 1.42% | +0.4% |
CPLA | Sell | Capella Education Co | $2,273,000 | -23.2% | 39,161 | -30.3% | 0.18% | -14.6% |
CWGL | Exit | Crimson Wine Group Ltd | $0 | – | -84,409 | – | -0.05% | – |
TOL | Exit | Toll Brothers Inc | $0 | – | -441,259 | – | -0.85% | – |
AWHHF | Exit | Allied World Assurance Co Hldg | $0 | – | -2,017,768 | – | -5.07% | – |
Q2 2016
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | New | Moody's Corp. | $131,849,000 | – | 1,406,986 | – | 9.43% | – |
ACGL | New | Arch Capital Group Ltd | $125,777,000 | – | 1,746,908 | – | 9.00% | – |
GS | New | Goldman Sachs Group Inc | $89,799,000 | – | 604,379 | – | 6.42% | – |
WFC | New | Wells Fargo & Company | $89,226,000 | – | 1,885,193 | – | 6.38% | – |
NVR | New | NVR Inc. | $88,875,000 | – | 49,920 | – | 6.36% | – |
FAST | New | Fastenal Co | $86,429,000 | – | 1,947,027 | – | 6.18% | – |
YUM | New | YUM! Brands Inc | $85,206,000 | – | 1,027,569 | – | 6.10% | – |
CMI | New | Cummins Inc | $80,251,000 | – | 713,726 | – | 5.74% | – |
DE | New | Deere & Co. | $75,490,000 | – | 931,520 | – | 5.40% | – |
EXPD | New | Expeditors International of Washington | $72,262,000 | – | 1,473,529 | – | 5.17% | – |
AWHHF | New | Allied World Assurance Co Hldg | $70,904,000 | – | 2,017,768 | – | 5.07% | – |
UNP | New | Union Pacific Corporation | $69,640,000 | – | 798,166 | – | 4.98% | – |
MA | New | Mastercard Inc Class A | $57,482,000 | – | 652,761 | – | 4.11% | – |
V | New | Visa Inc Cl A | $56,513,000 | – | 761,945 | – | 4.04% | – |
ROST | New | Ross Stores Inc | $53,877,000 | – | 950,371 | – | 3.86% | – |
USB | New | US Bancorp | $52,923,000 | – | 1,312,253 | – | 3.79% | – |
CMG | New | Chipotle Mexican Grill Cl A | $37,990,000 | – | 94,323 | – | 2.72% | – |
STRA | New | Strayer Education Inc | $37,774,000 | – | 768,865 | – | 2.70% | – |
WAT | New | Waters Corp | $19,836,000 | – | 141,030 | – | 1.42% | – |
TOL | New | Toll Brothers Inc | $11,874,000 | – | 441,259 | – | 0.85% | – |
CPLA | New | Capella Education Co | $2,958,000 | – | 56,202 | – | 0.21% | – |
CWGL | New | Crimson Wine Group Ltd | $706,000 | – | 84,409 | – | 0.05% | – |
Q4 2015
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
CWGL | Exit | Crimson Wine Group Ltd | $0 | – | -189,080 | – | -0.13% | – |
BRKA | Exit | Berkshire Hathaway Class A | $0 | – | -36 | – | -0.54% | – |
WAT | Exit | Waters Corp | $0 | – | -142,010 | – | -1.29% | – |
BRKB | Exit | Berkshire Hathaway Class B | $0 | – | -152,595 | – | -1.53% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -270,715 | – | -1.85% | – |
STRA | Exit | Strayer Education Inc | $0 | – | -500,974 | – | -2.12% | – |
ROST | Exit | Ross Stores Inc | $0 | – | -571,135 | – | -2.14% | – |
CMI | Exit | Cummins Inc | $0 | – | -381,998 | – | -3.20% | – |
LUK | Exit | Leucadia National Corporation | $0 | – | -2,120,192 | – | -3.31% | – |
V | Exit | Visa Inc Cl A | $0 | – | -777,075 | – | -4.17% | – |
USB | Exit | US Bancorp | $0 | – | -1,325,927 | – | -4.19% | – |
EXPD | Exit | Expeditors International of Washington Inc | $0 | – | -1,159,438 | – | -4.21% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -643,789 | – | -4.47% | – |
TOL | Exit | Toll Brothers Inc | $0 | – | -1,898,933 | – | -5.01% | – |
DE | Exit | Deere & Co. | $0 | – | -881,471 | – | -5.03% | – |
FAST | Exit | Fastenal Co | $0 | – | -1,908,365 | – | -5.39% | – |
YUM | Exit | YUM! Brands Inc | $0 | – | -925,921 | – | -5.71% | – |
AWHHF | Exit | Allied World Assurance Co Hldg | $0 | – | -1,988,332 | – | -5.85% | – |
NVR | Exit | NVR Inc. | $0 | – | -51,170 | – | -6.02% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -534,705 | – | -7.16% | – |
WFC | Exit | Wells Fargo & Company | $0 | – | -1,921,851 | – | -7.61% | – |
MCO | Exit | Moody's Corp. | $0 | – | -1,182,938 | – | -8.96% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -1,781,979 | – | -10.10% | – |
Q3 2015
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
ACGL | Sell | Arch Capital Group Ltd | $130,922,000 | +6.3% | 1,781,979 | -3.1% | 10.10% | +4.8% |
MCO | Sell | Moody's Corp. | $116,164,000 | -11.1% | 1,182,938 | -2.3% | 8.96% | -12.4% |
WFC | Sell | Wells Fargo & Company | $98,687,000 | -11.1% | 1,921,851 | -2.6% | 7.61% | -12.3% |
GS | Sell | Goldman Sachs Group Inc | $92,910,000 | -17.5% | 534,705 | -0.9% | 7.16% | -18.7% |
NVR | Sell | NVR Inc. | $78,046,000 | +11.6% | 51,170 | -1.9% | 6.02% | +10.0% |
AWHHF | Buy | Allied World Assurance Co Hldg | $75,895,000 | -9.8% | 1,988,332 | +2.1% | 5.85% | -11.1% |
YUM | Sell | YUM! Brands Inc | $74,027,000 | -13.2% | 925,921 | -2.2% | 5.71% | -14.5% |
FAST | Buy | Fastenal Co | $69,865,000 | +44.4% | 1,908,365 | +66.4% | 5.39% | +42.3% |
DE | Buy | Deere & Co. | $65,229,000 | +40.9% | 881,471 | +84.9% | 5.03% | +38.9% |
TOL | Sell | Toll Brothers Inc | $65,019,000 | -12.1% | 1,898,933 | -2.0% | 5.01% | -13.4% |
MA | Sell | Mastercard Inc Class A | $58,018,000 | -6.0% | 643,789 | -2.5% | 4.47% | -7.4% |
EXPD | Sell | Expeditors International of Washington Inc | $54,552,000 | -0.7% | 1,159,438 | -2.7% | 4.21% | -2.2% |
USB | Sell | US Bancorp | $54,376,000 | -7.5% | 1,325,927 | -2.1% | 4.19% | -8.9% |
V | Sell | Visa Inc Cl A | $54,131,000 | +1.1% | 777,075 | -2.5% | 4.17% | -0.4% |
LUK | Sell | Leucadia National Corporation | $42,955,000 | -18.7% | 2,120,192 | -2.6% | 3.31% | -19.9% |
CMI | New | Cummins Inc | $41,477,000 | – | 381,998 | – | 3.20% | – |
ROST | New | Ross Stores Inc | $27,683,000 | – | 571,135 | – | 2.14% | – |
STRA | Sell | Strayer Education Inc | $27,539,000 | +27.1% | 500,974 | -0.4% | 2.12% | +25.2% |
UNP | Sell | Union Pacific Corporation | $23,934,000 | -9.9% | 270,715 | -2.8% | 1.85% | -11.1% |
BRKB | Sell | Berkshire Hathaway Class B | $19,898,000 | -5.7% | 152,595 | -1.6% | 1.53% | -7.1% |
WAT | Sell | Waters Corp | $16,787,000 | -8.5% | 142,010 | -0.7% | 1.29% | -9.9% |
BRKA | Sell | Berkshire Hathaway Class A | $7,029,000 | -9.7% | 36 | -5.3% | 0.54% | -11.0% |
CWGL | Sell | Crimson Wine Group Ltd | $1,711,000 | -6.7% | 189,080 | -3.5% | 0.13% | -7.7% |
BRO | Exit | Brown & Brown, Inc. | $0 | – | -90,645 | – | -0.23% | – |
MLM | Exit | Martin Marietta Materials | $0 | – | -75,283 | – | -0.83% | – |
Q2 2015
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
MCO | New | Moody's Corp. | $130,661,000 | – | 1,210,271 | – | 10.22% | – |
ACGL | New | Arch Capital Group Ltd | $123,125,000 | – | 1,838,785 | – | 9.63% | – |
GS | New | Goldman Sachs Group Inc | $112,670,000 | – | 539,634 | – | 8.82% | – |
WFC | New | Wells Fargo & Company | $110,966,000 | – | 1,973,076 | – | 8.68% | – |
YUM | New | YUM! Brands Inc | $85,285,000 | – | 946,765 | – | 6.67% | – |
AWHHF | New | Allied World Assurance Co Hldg | $84,130,000 | – | 1,946,562 | – | 6.58% | – |
TOL | New | Toll Brothers Inc | $73,964,000 | – | 1,936,748 | – | 5.79% | – |
NVR | New | NVR Inc. | $69,921,000 | – | 52,180 | – | 5.47% | – |
MA | New | Mastercard Inc Class A | $61,715,000 | – | 660,199 | – | 4.83% | – |
USB | New | US Bancorp | $58,805,000 | – | 1,354,956 | – | 4.60% | – |
EXPD | New | Expeditors International of Washington | $54,949,000 | – | 1,191,813 | – | 4.30% | – |
V | New | Visa Inc Cl A | $53,541,000 | – | 797,329 | – | 4.19% | – |
LUK | New | Leucadia National Corporation | $52,827,000 | – | 2,175,747 | – | 4.13% | – |
FAST | New | Fastenal Co | $48,377,000 | – | 1,146,919 | – | 3.78% | – |
DE | New | Deere & Co. | $46,279,000 | – | 476,854 | – | 3.62% | – |
UNP | New | Union Pacific Corporation | $26,552,000 | – | 278,409 | – | 2.08% | – |
STRA | New | Strayer Education Inc | $21,673,000 | – | 502,854 | – | 1.70% | – |
BRKB | New | Berkshire Hathaway Class B | $21,097,000 | – | 155,001 | – | 1.65% | – |
WAT | New | Waters Corp | $18,354,000 | – | 142,963 | – | 1.44% | – |
MLM | New | Martin Marietta Materials | $10,653,000 | – | 75,283 | – | 0.83% | – |
BRKA | New | Berkshire Hathaway Class A | $7,784,000 | – | 38 | – | 0.61% | – |
BRO | New | Brown & Brown, Inc. | $2,979,000 | – | 90,645 | – | 0.23% | – |
CWGL | New | Crimson Wine Group Ltd | $1,833,000 | – | 196,020 | – | 0.14% | – |
Q4 2014
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
CWGL | Exit | Crimson Wine Group Ltd | $0 | – | -208,716 | – | -0.15% | – |
BRKA | Exit | Berkshire Hathaway Class A | $0 | – | -39 | – | -0.62% | – |
STRA | Exit | Strayer Education Inc | $0 | – | -174,420 | – | -0.81% | – |
WAT | Exit | Waters Corp | $0 | – | -147,809 | – | -1.13% | – |
BRKB | Exit | Berkshire Hathaway Class B | $0 | – | -168,741 | – | -1.80% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -298,149 | – | -2.50% | – |
FAST | Exit | Fastenal Co | $0 | – | -728,700 | – | -2.53% | – |
DE | Exit | Deere & Co. | $0 | – | -492,347 | – | -3.12% | – |
V | Exit | Visa Inc Cl A | $0 | – | -191,331 | – | -3.16% | – |
MLM | Exit | Martin Marietta Materials | $0 | – | -331,015 | – | -3.30% | – |
DVN | Exit | Devon Energy Corp | $0 | – | -633,558 | – | -3.34% | – |
EXPD | Exit | Expeditors International of Wa | $0 | – | -1,204,311 | – | -3.78% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -678,349 | – | -3.88% | – |
LUK | Exit | Leucadia National Corporation | $0 | – | -2,120,191 | – | -3.91% | – |
NVR | Exit | NVR Inc. | $0 | – | -45,835 | – | -4.00% | – |
BRO | Exit | Brown & Brown, Inc. | $0 | – | -1,634,179 | – | -4.06% | – |
USB | Exit | US Bancorp | $0 | – | -1,445,810 | – | -4.68% | – |
TOL | Exit | Toll Brothers Inc | $0 | – | -2,002,168 | – | -4.82% | – |
YUM | Exit | YUM! Brands Inc | $0 | – | -1,045,986 | – | -5.82% | – |
AWHHF | Exit | Allied World Assurance Co Hldg | $0 | – | -2,044,898 | – | -5.82% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -572,492 | – | -8.12% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -1,974,553 | – | -8.35% | – |
MCO | Exit | Moody's Corp. | $0 | – | -1,257,053 | – | -9.18% | – |
WFC | Exit | Wells Fargo & Company | $0 | – | -2,771,986 | – | -11.12% | – |
Q3 2014
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
WFC | New | Wells Fargo & Company | $143,783,000 | – | 2,771,986 | – | 11.12% | – |
MCO | New | Moody's Corp. | $118,792,000 | – | 1,257,053 | – | 9.18% | – |
ACGL | Sell | Arch Capital Group Ltd | $108,048,000 | -6.9% | 1,974,553 | -2.2% | 8.35% | -1.9% |
GS | Sell | Goldman Sachs Group Inc | $105,092,000 | +7.4% | 572,492 | -2.1% | 8.12% | +13.0% |
AWHHF | Buy | Allied World Assurance Co Hldg | $75,334,000 | +0.3% | 2,044,898 | +3.5% | 5.82% | +5.6% |
YUM | New | YUM! Brands Inc | $75,290,000 | – | 1,045,986 | – | 5.82% | – |
TOL | New | Toll Brothers Inc | $62,388,000 | – | 2,002,168 | – | 4.82% | – |
USB | New | US Bancorp | $60,478,000 | – | 1,445,810 | – | 4.68% | – |
BRO | New | Brown & Brown, Inc. | $52,539,000 | – | 1,634,179 | – | 4.06% | – |
NVR | Sell | NVR Inc. | $51,794,000 | -3.9% | 45,835 | -2.1% | 4.00% | +1.2% |
LUK | New | Leucadia National Corporation | $50,545,000 | – | 2,120,191 | – | 3.91% | – |
MA | Buy | Mastercard Inc Class A | $50,144,000 | +26.8% | 678,349 | +26.0% | 3.88% | +33.4% |
EXPD | New | Expeditors International of Wa | $48,871,000 | – | 1,204,311 | – | 3.78% | – |
DVN | Sell | Devon Energy Corp | $43,196,000 | -15.8% | 633,558 | -2.0% | 3.34% | -11.4% |
MLM | New | Martin Marietta Materials | $42,681,000 | – | 331,015 | – | 3.30% | – |
V | Buy | Visa Inc Cl A | $40,824,000 | +163.3% | 191,331 | +160.0% | 3.16% | +177.3% |
DE | New | Deere & Co. | $40,368,000 | – | 492,347 | – | 3.12% | – |
FAST | New | Fastenal Co | $32,719,000 | – | 728,700 | – | 2.53% | – |
UNP | New | Union Pacific Corporation | $32,325,000 | – | 298,149 | – | 2.50% | – |
BRKB | Sell | Berkshire Hathaway Class B | $23,310,000 | -33.1% | 168,741 | -38.7% | 1.80% | -29.5% |
WAT | New | Waters Corp | $14,651,000 | – | 147,809 | – | 1.13% | – |
STRA | New | Strayer Education Inc | $10,444,000 | – | 174,420 | – | 0.81% | – |
BRKA | Sell | Berkshire Hathaway Class A | $8,069,000 | -54.8% | 39 | -58.5% | 0.62% | -52.4% |
CWGL | Sell | Crimson Wine Group Ltd | $1,914,000 | -1.0% | 208,716 | -2.4% | 0.15% | +4.2% |
Exit | Waters Corp | $0 | – | -149,725 | – | -1.15% | – | |
Exit | Union Pacific Corporation | $0 | – | -303,262 | – | -2.22% | – | |
Exit | Fastenal Co | $0 | – | -741,095 | – | -2.69% | – | |
Exit | Deere & Co. | $0 | – | -472,016 | – | -3.14% | – | |
Exit | Martin Marietta Materials | $0 | – | -340,611 | – | -3.30% | – | |
Exit | Expeditors International of Wa | $0 | – | -1,224,514 | – | -3.97% | – | |
Exit | Leucadia National Corporation | $0 | – | -2,174,130 | – | -4.19% | – | |
Exit | US Bancorp | $0 | – | -1,476,373 | – | -4.70% | – | |
Exit | Toll Brothers Inc | $0 | – | -2,047,136 | – | -5.55% | – | |
Exit | YUM! Brands Inc | $0 | – | -1,066,891 | – | -6.36% | – | |
Exit | Brown & Brown, Inc. | $0 | – | -2,890,233 | – | -6.52% | – | |
Exit | Moody's Corp. | $0 | – | -1,286,611 | – | -8.28% | – | |
Exit | Wells Fargo & Company | $0 | – | -2,833,443 | – | -10.94% | – |
Q2 2014
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
New | Wells Fargo & Company | $148,926,000 | – | 2,833,443 | – | 10.94% | – | |
ACGL | New | Arch Capital Group Ltd | $116,010,000 | – | 2,019,680 | – | 8.52% | – |
New | Moody's Corp. | $112,784,000 | – | 1,286,611 | – | 8.28% | – | |
GS | New | Goldman Sachs Group Inc | $97,889,000 | – | 584,620 | – | 7.19% | – |
New | Brown & Brown, Inc. | $88,759,000 | – | 2,890,233 | – | 6.52% | – | |
New | YUM! Brands Inc | $86,632,000 | – | 1,066,891 | – | 6.36% | – | |
New | Toll Brothers Inc | $75,539,000 | – | 2,047,136 | – | 5.55% | – | |
AWHHF | New | Allied World Assurance Co Hldg | $75,120,000 | – | 1,975,802 | – | 5.52% | – |
New | US Bancorp | $63,956,000 | – | 1,476,373 | – | 4.70% | – | |
New | Leucadia National Corporation | $57,006,000 | – | 2,174,130 | – | 4.19% | – | |
New | Expeditors International of Wa | $54,075,000 | – | 1,224,514 | – | 3.97% | – | |
NVR | New | NVR Inc. | $53,878,000 | – | 46,826 | – | 3.96% | – |
DVN | New | Devon Energy Corp | $51,321,000 | – | 646,355 | – | 3.77% | – |
New | Martin Marietta Materials | $44,978,000 | – | 340,611 | – | 3.30% | – | |
New | Deere & Co. | $42,741,000 | – | 472,016 | – | 3.14% | – | |
MA | New | Mastercard Inc Class A | $39,560,000 | – | 538,446 | – | 2.90% | – |
New | Fastenal Co | $36,677,000 | – | 741,095 | – | 2.69% | – | |
BRKB | New | Berkshire Hathaway Class B | $34,828,000 | – | 275,190 | – | 2.56% | – |
New | Union Pacific Corporation | $30,250,000 | – | 303,262 | – | 2.22% | – | |
BRKA | New | Berkshire Hathaway Class A | $17,851,000 | – | 94 | – | 1.31% | – |
New | Waters Corp | $15,637,000 | – | 149,725 | – | 1.15% | – | |
V | New | Visa Inc Cl A | $15,504,000 | – | 73,578 | – | 1.14% | – |
CWGL | New | Crimson Wine Group Ltd | $1,934,000 | – | 213,741 | – | 0.14% | – |
Q4 2013
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
CWGL | Exit | Crimson Wine Group Ltd | $0 | – | -229,591 | – | -0.17% | – |
MCD | Exit | Mc Donald's Corporation | $0 | – | -94,780 | – | -0.69% | – |
V | Exit | Visa Inc Cl A | $0 | – | -78,660 | – | -1.14% | – |
WAT | Exit | Waters Corp | $0 | – | -153,453 | – | -1.24% | – |
CSE | Exit | Capital Source Inc | $0 | – | -1,487,488 | – | -1.34% | – |
BRKA | Exit | Berkshire Hathaway Class A | $0 | – | -113 | – | -1.46% | – |
DVN | Exit | Devon Energy Corp | $0 | – | -399,010 | – | -1.75% | – |
UNP | Exit | Union Pacific Corporation | $0 | – | -157,268 | – | -1.85% | – |
FRFHF | Exit | Fairfax Financial Hldgs LTD | $0 | – | -80,175 | – | -2.48% | – |
BRKB | Exit | Berkshire Hathaway Class B | $0 | – | -288,960 | – | -2.49% | – |
DE | Exit | Deere & Co. | $0 | – | -405,575 | – | -2.51% | – |
CHRW | Exit | C.H. Robinson Worldwide Inc. | $0 | – | -615,694 | – | -2.78% | – |
MA | Exit | Mastercard Inc Class A | $0 | – | -56,912 | – | -2.91% | – |
FAST | Exit | Fastenal Co | $0 | – | -778,370 | – | -2.97% | – |
AWHHF | Exit | Allied World Assurance Co Hldg | $0 | – | -405,909 | – | -3.06% | – |
NVR | Exit | NVR Inc. | $0 | – | -49,781 | – | -3.47% | – |
MLM | Exit | Martin Marietta Materials | $0 | – | -480,663 | – | -3.58% | – |
EXPD | Exit | Expeditors International of Wa | $0 | – | -1,096,511 | – | -3.67% | – |
USB | Exit | US Bancorp | $0 | – | -1,549,446 | – | -4.30% | – |
LUK | Exit | Leucadia National Corporation | $0 | – | -2,315,379 | – | -4.79% | – |
TOL | Exit | Toll Brothers Inc | $0 | – | -2,139,525 | – | -5.27% | – |
GS | Exit | Goldman Sachs Group Inc | $0 | – | -495,341 | – | -5.95% | – |
YUM | Exit | YUM! Brands Inc | $0 | – | -1,265,465 | – | -6.86% | – |
MCO | Exit | Moody's Corp. | $0 | – | -1,354,250 | – | -7.23% | – |
BRO | Exit | Brown & Brown, Inc. | $0 | – | -3,257,726 | – | -7.94% | – |
ACGL | Exit | Arch Capital Group Ltd | $0 | – | -2,125,232 | – | -8.73% | – |
WFC | Exit | Wells Fargo & Company | $0 | – | -2,987,808 | – | -9.37% | – |
Q3 2013
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
WFC | Sell | Wells Fargo & Company | $123,456,000 | -0.9% | 2,987,808 | -1.0% | 9.37% | -3.7% |
ACGL | Sell | Arch Capital Group Ltd | $115,039,000 | +4.3% | 2,125,232 | -0.9% | 8.73% | +1.3% |
BRO | Sell | Brown & Brown, Inc. | $104,573,000 | -1.4% | 3,257,726 | -0.9% | 7.94% | -4.2% |
MCO | Buy | Moody's Corp. | $95,244,000 | +16.4% | 1,354,250 | +0.9% | 7.23% | +13.1% |
YUM | Sell | YUM! Brands Inc | $90,342,000 | +1.9% | 1,265,465 | -1.1% | 6.86% | -1.0% |
GS | Sell | Goldman Sachs Group Inc | $78,368,000 | +4.1% | 495,341 | -0.4% | 5.95% | +1.2% |
TOL | Sell | Toll Brothers Inc | $69,385,000 | -1.5% | 2,139,525 | -0.9% | 5.27% | -4.3% |
LUK | Sell | Leucadia National Corporation | $63,071,000 | +3.1% | 2,315,379 | -0.7% | 4.79% | +0.2% |
USB | Sell | US Bancorp | $56,679,000 | +0.5% | 1,549,446 | -0.7% | 4.30% | -2.3% |
EXPD | Buy | Expeditors International of Wa | $48,312,000 | +16.1% | 1,096,511 | +0.3% | 3.67% | +12.8% |
MLM | Sell | Martin Marietta Materials | $47,187,000 | -5.8% | 480,663 | -5.5% | 3.58% | -8.5% |
NVR | Sell | NVR Inc. | $45,758,000 | -1.3% | 49,781 | -1.0% | 3.47% | -4.1% |
AWHHF | Buy | Allied World Assurance Co Hldg | $40,343,000 | +54.0% | 405,909 | +41.8% | 3.06% | +49.6% |
FAST | Sell | Fastenal Co | $39,129,000 | +8.7% | 778,370 | -1.0% | 2.97% | +5.6% |
MA | Sell | Mastercard Inc Class A | $38,289,000 | +16.6% | 56,912 | -0.4% | 2.91% | +13.3% |
CHRW | Buy | C.H. Robinson Worldwide Inc. | $36,689,000 | +10.3% | 615,694 | +4.2% | 2.78% | +7.2% |
DE | New | Deere & Co. | $33,010,000 | – | 405,575 | – | 2.51% | – |
BRKB | Sell | Berkshire Hathaway Class B | $32,800,000 | -0.8% | 288,960 | -2.2% | 2.49% | -3.6% |
FRFHF | Sell | Fairfax Financial Hldgs LTD | $32,675,000 | -45.1% | 80,175 | -47.5% | 2.48% | -46.7% |
UNP | Sell | Union Pacific Corporation | $24,430,000 | -0.2% | 157,268 | -0.9% | 1.85% | -3.0% |
DVN | Buy | Devon Energy Corp | $23,047,000 | +15.0% | 399,010 | +3.3% | 1.75% | +11.8% |
CSE | Sell | Capital Source Inc | $17,671,000 | -57.0% | 1,487,488 | -66.1% | 1.34% | -58.3% |
WAT | Sell | Waters Corp | $16,298,000 | +5.6% | 153,453 | -0.5% | 1.24% | +2.6% |
V | Sell | Visa Inc Cl A | $15,032,000 | +4.1% | 78,660 | -0.5% | 1.14% | +1.1% |
MCD | Sell | Mc Donald's Corporation | $9,119,000 | -3.6% | 94,780 | -0.8% | 0.69% | -6.4% |
CWGL | Sell | Crimson Wine Group Ltd | $2,193,000 | +11.5% | 229,591 | -0.6% | 0.17% | +7.8% |
HOFD | Exit | HomeFed Corp | $0 | – | -17,193 | – | -0.04% | – |
Q2 2013
Value | Shares | ↓ Weighting | ||||||
---|---|---|---|---|---|---|---|---|
WFC | New | Wells Fargo & Company | $124,541,000 | – | 3,017,725 | – | 9.73% | – |
ACGL | New | Arch Capital Group Ltd | $110,303,000 | – | 2,145,553 | – | 8.62% | – |
BRO | New | Brown & Brown, Inc. | $106,016,000 | – | 3,288,330 | – | 8.28% | – |
YUM | New | YUM! Brands Inc | $88,680,000 | – | 1,278,914 | – | 6.93% | – |
MCO | New | Moody's Corp. | $81,791,000 | – | 1,342,371 | – | 6.39% | – |
GS | New | Goldman Sachs Group Inc | $75,246,000 | – | 497,495 | – | 5.88% | – |
TOL | New | Toll Brothers Inc | $70,452,000 | – | 2,159,123 | – | 5.50% | – |
LUK | New | Leucadia National Corporation | $61,166,000 | – | 2,332,782 | – | 4.78% | – |
FRFHF | New | Fairfax Financial Hldgs LTD | $59,521,000 | – | 152,579 | – | 4.65% | – |
USB | New | US Bancorp | $56,387,000 | – | 1,559,816 | – | 4.40% | – |
MLM | New | Martin Marietta Materials | $50,084,000 | – | 508,877 | – | 3.91% | – |
NVR | New | NVR Inc. | $46,379,000 | – | 50,303 | – | 3.62% | – |
EXPD | New | Expeditors International of Wa | $41,606,000 | – | 1,093,740 | – | 3.25% | – |
CSE | New | Capital Source Inc | $41,138,000 | – | 4,385,716 | – | 3.21% | – |
FAST | New | Fastenal Co | $35,991,000 | – | 785,992 | – | 2.81% | – |
CHRW | New | C.H. Robinson Worldwide Inc. | $33,260,000 | – | 590,660 | – | 2.60% | – |
BRKB | New | Berkshire Hathaway Class B | $33,056,000 | – | 295,350 | – | 2.58% | – |
MA | New | Mastercard Inc Class A | $32,824,000 | – | 57,135 | – | 2.56% | – |
AWHHF | New | Allied World Assurance Co Hldg | $26,201,000 | – | 286,321 | – | 2.05% | – |
UNP | New | Union Pacific Corporation | $24,475,000 | – | 158,643 | – | 1.91% | – |
DVN | New | Devon Energy Corp | $20,034,000 | – | 386,165 | – | 1.56% | – |
BRKA | New | Berkshire Hathaway Class A | $19,052,000 | – | 113 | – | 1.49% | – |
WAT | New | Waters Corp | $15,436,000 | – | 154,286 | – | 1.21% | – |
V | New | Visa Inc Cl A | $14,446,000 | – | 79,045 | – | 1.13% | – |
MCD | New | Mc Donald's Corporation | $9,460,000 | – | 95,553 | – | 0.74% | – |
CWGL | New | Crimson Wine Group Ltd | $1,967,000 | – | 230,967 | – | 0.15% | – |
HOFD | New | HomeFed Corp | $559,000 | – | 17,193 | – | 0.04% | – |