Portfolio Concentration

CompanyAvg. Holdings+5%+10%+20%
Punch Card Capital, L.P.387.93%77.59%58.62%
Triple Frond Partners890.48%72.79%8.16%
Tesuji Partners, LLC695.80%72.27%27.73%
MSD Capital685.47%71.79%34.19%
Altarock Partners779.38%58.76%23.71%
Baker Street467.27%58.18%38.18%
Dalal Street, LLC771.53%57.66%25.55%
Mittleman Brothers879.87%57.05%24.16%
H Partners476.71%53.42%49.32%
Pershing Square Capital Management881.63%53.06%19.05%
Daily Journal Corp.452.94%50.00%50.00%
Scion Asset Management890.62%50.00%15.62%
The Children's Investment Fund565.12%46.51%32.56%
Altai Capital Management673.49%45.78%24.10%
Sageview Capital L.P.448.15%45.68%29.63%
RBS Partners, L.P.764.62%44.62%30.00%
Invesco Private Capital, Inc.852.78%40.97%22.22%
Wintergreen Advisers1058.29%40.70%9.55%
Salzman & Co.767.44%39.53%25.58%
MHR Fund Management846.58%38.51%25.47%
Joho Kapital1160.77%33.97%11.96%
Aquamarine Capital Management1542.50%28.00%2.00%
Sachem Head Capital1174.19%27.96%6.99%
Turtle Creek Asset Management, Inc.1354.64%26.78%11.48%
ValueAct Holdings1455.89%24.71%4.18%
Marcato Capital1645.60%24.10%4.23%
Brenner West Capital Advisors1456.18%23.97%3.00%
Abrams Capital Management1544.71%23.55%4.78%
Brave Warrior Advisors1559.01%23.32%3.89%
Breeden Capital Management955.56%22.22%22.22%
Arlington Value Capital, LLC1741.27%21.90%5.71%
Hayman Capital1434.33%19.40%9.45%
Blue Harbour Group1942.27%16.57%0.00%
Fairholme Capital Management2024.87%15.78%8.29%
Teton Capital Partners1740.31%12.92%6.46%
Edinburgh Partners3625.29%11.84%0.58%
Centerbridge Partners2121.05%11.28%6.77%
Hound Partners2336.73%11.11%0.00%
Icahn Capital2030.56%10.99%5.90%
West Coast Asset Management2150.00%10.32%0.00%
Chou Associates Management2531.03%9.85%1.47%
Fairfax Financial Holdings3811.54%9.34%4.81%
Marble Arch Investments1949.03%8.36%0.28%
Baupost Group LLC3219.19%8.13%1.63%
Berkshire Hathaway4710.38%8.01%1.24%
GoodHaven Capital Management2430.85%7.66%0.22%
GoldenTree Asset Management2423.88%6.92%2.01%
Moab Capital Partners, LLC3219.51%6.83%0.49%
Broad Run Investment Management2533.48%5.97%0.00%
Kingstown Capital1950.00%5.74%0.27%
Hillhouse Capital Management3111.88%5.68%4.13%
RA Capital Management3615.34%4.92%0.72%
Southeastern Asset Management3024.35%4.87%0.00%
Lane Five Capital Management2137.38%4.67%0.00%
Miura Global Management2332.58%4.49%0.00%
Giverny Capital2723.68%4.36%0.00%
Leucadia National274.76%4.17%3.97%
Greenlight Capital4012.58%4.11%0.53%
Duquesne Family Office3215.75%4.06%1.14%
Third Point399.62%3.93%1.22%
Centaur Capital2823.08%3.75%0.00%
Bares Capital Management3628.31%3.35%0.14%
International Value Advisers3317.80%2.52%0.00%
3G Capital Partners439.08%2.46%0.13%
Robotti & Company559.89%2.02%0.38%
Appaloosa Management4910.17%1.85%0.18%
Par Capital Management736.76%1.73%0.00%
Gates Capital Management2818.32%1.72%1.53%
Ruane, Cunniff & Goldfarb1253.40%1.13%0.42%
Nantahala Capital Management, LLC743.26%1.06%0.50%
Donald Smith & Co.754.78%0.91%0.00%
Gardner Russo & Gardner1129.04%0.80%0.00%
Swift Run Capital5211.61%0.79%0.00%
Cannell Capital645.37%0.50%0.00%
Paulson & Co.806.04%0.46%0.00%
Raffles Associates528.63%0.41%0.00%
Locust Wood Capital Advisers427.02%0.38%0.00%
Wedgewood Partners2925.27%0.36%0.00%
Soros Fund Management2350.72%0.34%0.00%
Avenir Corp6611.80%0.24%0.00%
Glenview Capital Management624.65%0.17%0.00%
Horizon Kinetics, LLC5140.47%0.15%0.02%
Lafayette Investments683.78%0.00%0.00%
Lincoln Capital639.35%0.00%0.00%
Lone Pine Capital466.78%0.00%0.00%
Markel Corporation1202.58%0.00%0.00%
Weitz Investment Management694.49%0.00%0.00%