Portfolio Concentration

CompanyAvg. Holdings+5%+10%+20%
Tesuji Partners, LLC694.33%72.34%26.95%
Punch Card Capital, L.P.480.28%71.83%56.34%
MSD Capital685.04%71.65%34.65%
Triple Frond Partners889.20%67.61%7.39%
Altarock Partners780.51%59.32%24.58%
Dalal Street, LLC672.54%59.15%26.76%
Baker Street467.27%58.18%38.18%
H Partners478.48%56.96%53.16%
Mittleman Brothers881.18%55.88%24.71%
Pershing Square Capital Management884.02%53.85%18.93%
Daily Journal Corp.452.50%50.00%50.00%
Scion Asset Management890.62%50.00%15.62%
Sageview Capital L.P.448.84%46.51%31.40%
The Children's Investment Fund565.12%46.51%32.56%
Altai Capital Management673.49%45.78%24.10%
RBS Partners, L.P.763.51%44.59%30.41%
Salzman & Co.765.33%40.67%28.00%
Wintergreen Advisers1058.53%40.55%10.14%
Invesco Private Capital, Inc.748.47%38.04%21.47%
MHR Fund Management944.44%37.37%23.23%
Joho Kapital1060.43%36.09%13.91%
Aquamarine Capital Management1642.57%27.71%1.61%
Sachem Head Capital1175.11%27.11%5.78%
ValueAct Holdings1454.66%25.40%3.54%
Brave Warrior Advisors1559.02%23.85%3.36%
Breeden Capital Management955.56%22.22%22.22%
Marcato Capital1743.24%22.16%4.05%
Turtle Creek Asset Management, Inc.1548.67%21.67%7.98%
Abrams Capital Management1643.98%21.29%3.92%
Arlington Value Capital, LLC1741.22%20.74%4.79%
Brenner West Capital Advisors1555.73%20.43%2.48%
Hayman Capital1434.33%19.40%9.45%
Blue Harbour Group1843.21%18.02%0.00%
Fairholme Capital Management1825.43%15.80%8.40%
Teton Capital Partners1642.38%14.40%6.93%
Edinburgh Partners3525.60%12.52%0.57%
Centerbridge Partners2022.39%12.42%6.87%
Icahn Capital2029.30%11.16%5.81%
Hound Partners2436.49%10.62%0.39%
West Coast Asset Management2150.00%10.32%0.00%
Chou Associates Management2530.25%10.14%1.27%
Fairfax Financial Holdings3811.62%9.70%4.91%
Marble Arch Investments1949.50%8.29%0.25%
Berkshire Hathaway4610.76%7.93%1.37%
GoodHaven Capital Management2432.25%7.82%0.19%
Baupost Group LLC3319.89%7.37%1.39%
Moab Capital Partners, LLC3219.83%6.80%0.42%
GoldenTree Asset Management2422.37%6.39%2.07%
Kingstown Capital1951.57%6.02%0.24%
Broad Run Investment Management2434.76%5.95%0.00%
Hillhouse Capital Management3311.32%5.46%3.68%
RA Capital Management3515.10%5.16%1.03%
Duquesne Family Office3216.46%5.06%0.98%
Southeastern Asset Management3025.72%4.84%0.00%
Miura Global Management2333.86%4.75%0.00%
Lane Five Capital Management2137.38%4.67%0.00%
Greenlight Capital3813.11%4.53%0.95%
Giverny Capital2921.73%4.21%0.00%
Third Point3810.27%3.90%1.06%
Centaur Capital2824.18%3.62%0.00%
Bares Capital Management3430.59%3.34%0.13%
Leucadia National334.53%3.29%3.16%
3G Capital Partners419.52%2.90%0.46%
International Value Advisers3317.93%2.58%0.00%
Robotti & Company569.67%2.01%0.32%
Gates Capital Management2816.05%1.93%1.77%
Appaloosa Management4910.17%1.85%0.18%
Par Capital Management746.56%1.78%0.00%
Donald Smith & Co.745.25%1.17%0.00%
Ruane, Cunniff & Goldfarb1193.40%1.13%0.42%
Nantahala Capital Management, LLC763.16%1.07%0.42%
Swift Run Capital5012.29%0.99%0.00%
Gardner Russo & Gardner1109.11%0.87%0.00%
Raffles Associates519.38%0.80%0.00%
Paulson & Co.776.58%0.65%0.00%
Cannell Capital664.89%0.41%0.00%
Soros Fund Management2310.83%0.37%0.00%
Avenir Corp6611.57%0.34%0.00%
Locust Wood Capital Advisers427.07%0.33%0.00%
Wedgewood Partners3025.53%0.30%0.00%
Horizon Kinetics, LLC5130.46%0.16%0.04%
Glenview Capital Management614.46%0.15%0.00%
Lafayette Investments703.59%0.13%0.00%
Lincoln Capital648.67%0.00%0.00%
Lone Pine Capital438.18%0.00%0.00%
Markel Corporation1222.53%0.00%0.00%
Weitz Investment Management704.52%0.00%0.00%