Portfolio Concentration

CompanyAvg. Holdings+5%+10%+20%
Punch Card Capital, L.P.482.09%73.13%56.72%
Tesuji Partners, LLC694.74%72.93%27.82%
MSD Capital685.48%71.77%34.68%
Triple Frond Partners889.76%69.28%7.23%
Dalal Street, LLC772.34%58.87%26.24%
Altarock Partners780.18%58.56%24.32%
Baker Street467.27%58.18%38.18%
Mittleman Brothers880.98%56.44%24.54%
H Partners477.92%55.84%51.95%
Pershing Square Capital Management883.33%53.09%19.14%
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.448.81%46.43%30.95%
Altai Capital Management673.49%45.78%24.10%
RBS Partners, L.P.763.38%45.07%30.28%
Wintergreen Advisers1058.77%40.76%9.95%
Salzman & Co.765.07%39.73%26.71%
Invesco Private Capital, Inc.750.32%39.35%21.94%
MHR Fund Management944.92%37.43%23.53%
Joho Kapital1160.27%35.27%12.95%
Aquamarine Capital Management1642.31%27.78%1.71%
Sachem Head Capital1173.83%27.10%6.07%
ValueAct Holdings1455.82%25.68%3.77%
Brave Warrior Advisors1559.87%24.27%3.56%
Turtle Creek Asset Management, Inc.1550.63%23.21%8.86%
Marcato Capital1644.35%23.19%4.06%
Breeden Capital Management955.56%22.22%22.22%
Abrams Capital Management1644.48%21.79%4.18%
Brenner West Capital Advisors1457.10%21.78%2.64%
Arlington Value Capital, LLC1741.18%21.01%5.04%
Hayman Capital1434.33%19.40%9.45%
Blue Harbour Group1942.71%17.65%0.00%
Fairholme Capital Management1925.51%15.66%8.33%
Teton Capital Partners1741.31%13.68%6.84%
Edinburgh Partners3525.60%12.52%0.57%
Centerbridge Partners2121.71%12.01%6.93%
Icahn Capital2029.76%11.22%5.85%
Hound Partners2337.73%10.93%0.21%
West Coast Asset Management2150.00%10.32%0.00%
Chou Associates Management2530.74%10.06%1.33%
Fairfax Financial Holdings3811.49%9.49%4.87%
Marble Arch Investments1949.50%8.29%0.25%
Berkshire Hathaway4610.66%7.99%1.33%
GoodHaven Capital Management2431.74%7.78%0.20%
Baupost Group LLC3219.82%7.64%1.47%
Moab Capital Partners, LLC3219.85%6.81%0.44%
GoldenTree Asset Management2423.02%6.35%1.98%
Kingstown Capital1951.26%6.03%0.25%
Broad Run Investment Management2534.37%5.83%0.00%
Hillhouse Capital Management3311.57%5.56%3.81%
RA Capital Management3615.09%5.07%0.93%
Miura Global Management2333.47%4.96%0.00%
Southeastern Asset Management3025.43%4.90%0.00%
Duquesne Family Office3216.54%4.77%1.04%
Lane Five Capital Management2137.38%4.67%0.00%
Giverny Capital2822.19%4.34%0.00%
Greenlight Capital3912.82%4.27%0.73%
Third Point3910.05%3.80%1.10%
Centaur Capital2823.97%3.60%0.00%
Leucadia National314.48%3.55%3.40%
Bares Capital Management3429.89%3.44%0.13%
3G Capital Partners429.24%2.64%0.36%
International Value Advisers3317.92%2.56%0.00%
Robotti & Company569.65%2.05%0.34%
Gates Capital Management2816.84%1.87%1.70%
Appaloosa Management4910.17%1.85%0.18%
Par Capital Management746.63%1.74%0.00%
Ruane, Cunniff & Goldfarb1193.40%1.13%0.42%
Donald Smith & Co.745.14%1.09%0.00%
Nantahala Capital Management, LLC753.16%1.07%0.44%
Swift Run Capital5111.91%0.92%0.00%
Gardner Russo & Gardner1119.05%0.82%0.00%
Raffles Associates519.12%0.65%0.00%
Paulson & Co.786.45%0.61%0.00%
Cannell Capital664.95%0.43%0.00%
Avenir Corp6611.68%0.36%0.00%
Soros Fund Management2330.80%0.35%0.00%
Locust Wood Capital Advisers427.10%0.34%0.00%
Wedgewood Partners3025.56%0.32%0.00%
Horizon Kinetics, LLC5130.46%0.16%0.04%
Glenview Capital Management614.59%0.16%0.00%
Lafayette Investments693.66%0.07%0.00%
Lincoln Capital638.93%0.00%0.00%
Lone Pine Capital447.76%0.00%0.00%
Markel Corporation1222.55%0.00%0.00%
Weitz Investment Management704.56%0.00%0.00%