Portfolio Concentration

CompanyAvg. Holdings+5%+10%+20%
Punch Card Capital, L.P.481.48%74.07%56.79%
Tesuji Partners, LLC694.33%72.34%26.95%
MSD Capital584.56%72.06%35.29%
Triple Frond Partners888.24%65.20%7.84%
Dalal Street, LLC673.83%60.40%28.86%
H Partners380.00%60.00%56.47%
Altarock Partners780.88%59.56%25.74%
Baker Street467.27%58.18%38.18%
Mittleman Brothers881.68%56.02%24.61%
Pershing Square Capital Management884.54%55.67%16.49%
Altai Capital Management675.51%51.02%26.53%
Daily Journal Corp.452.08%50.00%50.00%
Sageview Capital L.P.450.56%48.31%33.71%
The Children's Investment Fund565.12%46.51%32.56%
RBS Partners, L.P.663.75%45.00%31.88%
Salzman & Co.765.27%40.72%27.54%
Wintergreen Advisers957.96%39.82%10.62%
Invesco Private Capital, Inc.748.88%38.20%22.47%
MHR Fund Management943.29%37.23%22.51%
Joho Kapital1060.23%36.29%14.67%
Scion Asset Management1084.72%31.94%6.94%
Aquamarine Capital Management1544.91%29.12%1.40%
Sachem Head Capital1176.59%28.97%5.95%
ValueAct Holdings1550.67%24.53%3.73%
Brave Warrior Advisors1657.22%22.42%2.84%
Breeden Capital Management955.56%22.22%22.22%
Arlington Value Capital, LLC1742.04%21.62%4.75%
Marcato Capital1740.05%21.09%4.27%
Brenner West Capital Advisors1455.56%20.37%2.47%
Abrams Capital Management1744.44%20.05%3.38%
Hayman Capital1434.33%19.40%9.45%
Blue Harbour Group1844.20%18.53%0.22%
Turtle Creek Asset Management, Inc.1745.75%17.60%6.16%
Fairholme Capital Management1725.85%16.18%8.94%
Teton Capital Partners1642.68%15.88%6.70%
Centerbridge Partners2024.80%13.62%6.71%
Edinburgh Partners3525.60%12.52%0.57%
Icahn Capital1928.96%11.46%5.83%
Chou Associates Management2528.78%10.33%1.43%
West Coast Asset Management2150.00%10.32%0.00%
Fairfax Financial Holdings3811.91%10.00%4.89%
Hound Partners2435.53%9.87%0.33%
Marble Arch Investments1949.50%8.29%0.25%
Berkshire Hathaway4710.90%7.64%1.46%
Kingstown Capital1852.39%7.61%0.22%
GoodHaven Capital Management2432.27%7.39%0.17%
Moab Capital Partners, LLC3219.55%6.97%0.37%
Baupost Group LLC3320.41%6.80%1.34%
GoldenTree Asset Management2422.31%6.61%2.31%
Broad Run Investment Management2435.75%6.59%0.00%
Hillhouse Capital Management3311.76%5.70%3.88%
RA Capital Management3415.46%5.39%1.17%
Greenlight Capital3614.35%5.23%1.11%
Miura Global Management2334.92%4.94%0.00%
Lane Five Capital Management2137.38%4.67%0.00%
Southeastern Asset Management3025.53%4.65%0.00%
Duquesne Family Office3515.05%4.51%1.04%
Giverny Capital3019.59%4.07%0.18%
3G Capital Partners3811.27%3.98%0.77%
Third Point3810.62%3.93%1.27%
Leucadia National335.27%3.83%3.11%
Bares Capital Management3331.72%3.77%0.12%
Centaur Capital2824.18%3.62%0.00%
International Value Advisers3219.33%2.97%0.00%
Par Capital Management726.58%2.06%0.22%
Robotti & Company579.31%2.03%0.28%
Appaloosa Management4910.17%1.85%0.18%
Gates Capital Management2817.37%1.69%1.55%
Swift Run Capital4913.33%1.24%0.00%
Donald Smith & Co.726.17%1.18%0.00%
Ruane, Cunniff & Goldfarb1193.40%1.13%0.42%
Nantahala Capital Management, LLC782.96%1.07%0.41%
Gardner Russo & Gardner1089.17%1.04%0.00%
Raffles Associates519.79%0.95%0.00%
Paulson & Co.766.65%0.69%0.00%
Avenir Corp6611.27%0.48%0.00%
Soros Fund Management2230.97%0.43%0.00%
Wedgewood Partners3125.81%0.39%0.00%
Cannell Capital645.22%0.37%0.00%
Lafayette Investments723.36%0.32%0.00%
Locust Wood Capital Advisers436.92%0.27%0.00%
Horizon Kinetics, LLC5110.46%0.16%0.05%
Glenview Capital Management595.19%0.13%0.00%
Lincoln Capital668.71%0.00%0.00%
Lone Pine Capital429.63%0.00%0.00%
Markel Corporation1242.42%0.00%0.00%
Weitz Investment Management714.45%0.00%0.00%