Portfolio Concentration

CompanyAvg. Holdings+5%+10%+20%
Punch Card Capital, L.P.385.48%75.81%58.06%
Tesuji Partners, LLC696.00%72.80%28.00%
MSD Capital685.95%71.90%34.71%
Triple Frond Partners890.38%71.15%7.69%
Altarock Partners779.81%58.65%24.04%
Dalal Street, LLC771.94%58.27%25.90%
Baker Street467.27%58.18%38.18%
Mittleman Brothers880.77%57.05%24.36%
H Partners477.33%54.67%50.67%
Pershing Square Capital Management882.47%53.25%18.83%
Daily Journal Corp.452.63%50.00%50.00%
Scion Asset Management890.62%50.00%15.62%
The Children's Investment Fund565.12%46.51%32.56%
Sageview Capital L.P.448.78%46.34%30.49%
Altai Capital Management673.49%45.78%24.10%
RBS Partners, L.P.763.97%44.85%30.15%
Wintergreen Advisers1058.54%40.98%9.76%
Invesco Private Capital, Inc.752.38%40.82%22.45%
Salzman & Co.765.47%39.57%25.90%
MHR Fund Management945.98%37.93%24.71%
Joho Kapital1160.65%34.72%12.50%
Aquamarine Capital Management1642.40%27.65%1.84%
Sachem Head Capital1174.00%27.50%6.50%
ValueAct Holdings1456.36%25.45%4.00%
Turtle Creek Asset Management, Inc.1452.38%24.76%10.00%
Brave Warrior Advisors1559.46%23.99%3.72%
Marcato Capital1644.92%23.69%4.31%
Brenner West Capital Advisors1457.24%23.32%2.83%
Abrams Capital Management1645.05%22.68%4.47%
Breeden Capital Management955.56%22.22%22.22%
Arlington Value Capital, LLC1741.07%21.43%5.36%
Hayman Capital1434.33%19.40%9.45%
Blue Harbour Group1942.33%17.20%0.00%
Fairholme Capital Management1925.26%15.62%8.33%
Teton Capital Partners1740.71%12.98%6.78%
Edinburgh Partners3525.60%12.52%0.57%
Centerbridge Partners2121.34%11.51%6.95%
Icahn Capital1930.33%11.31%5.91%
Hound Partners2337.28%10.78%0.00%
West Coast Asset Management2150.00%10.32%0.00%
Chou Associates Management2530.94%9.98%1.40%
Fairfax Financial Holdings3811.47%9.39%4.82%
Berkshire Hathaway4710.52%8.05%1.29%
Marble Arch Investments1949.08%7.87%0.26%
Baupost Group LLC3219.60%7.87%1.54%
GoodHaven Capital Management2431.04%7.71%0.21%
Moab Capital Partners, LLC3219.78%6.80%0.46%
GoldenTree Asset Management2423.38%6.47%1.88%
Kingstown Capital1950.53%6.05%0.26%
Broad Run Investment Management2533.67%5.88%0.00%
Hillhouse Capital Management3111.76%5.56%3.97%
RA Capital Management3615.10%4.99%0.97%
Miura Global Management2332.97%4.96%0.00%
Southeastern Asset Management3025.00%4.80%0.00%
Lane Five Capital Management2137.38%4.67%0.00%
Duquesne Family Office3216.46%4.55%1.10%
Giverny Capital2722.75%4.21%0.00%
Greenlight Capital4012.66%4.18%0.63%
Third Point399.64%3.86%1.16%
Leucadia National294.51%3.81%3.64%
Centaur Capital2823.66%3.58%0.00%
Bares Capital Management3529.16%3.41%0.14%
International Value Advisers3317.79%2.54%0.00%
3G Capital Partners429.23%2.49%0.25%
Robotti & Company559.75%2.08%0.36%
Appaloosa Management4910.17%1.85%0.18%
Gates Capital Management2817.45%1.80%1.62%
Par Capital Management746.73%1.70%0.00%
Ruane, Cunniff & Goldfarb1193.40%1.13%0.42%
Nantahala Capital Management, LLC753.22%1.07%0.47%
Donald Smith & Co.754.96%1.01%0.00%
Swift Run Capital5211.75%0.85%0.00%
Gardner Russo & Gardner1119.04%0.81%0.00%
Raffles Associates518.79%0.59%0.00%
Paulson & Co.796.29%0.57%0.00%
Cannell Capital645.43%0.47%0.00%
Locust Wood Capital Advisers417.24%0.36%0.00%
Soros Fund Management2350.75%0.34%0.00%
Wedgewood Partners2925.51%0.34%0.00%
Avenir Corp6611.74%0.30%0.00%
Glenview Capital Management624.61%0.16%0.00%
Horizon Kinetics, LLC5140.47%0.16%0.03%
Lafayette Investments693.72%0.07%0.00%
Lincoln Capital638.93%0.00%0.00%
Lone Pine Capital457.22%0.00%0.00%
Markel Corporation1212.56%0.00%0.00%
Weitz Investment Management694.61%0.00%0.00%