Portfolio Concentration

CompanyAvg. Holdings+5%+10%+20%
Punch Card Capital, L.P.482.42%75.82%57.14%
Tesuji Partners, LLC694.33%72.34%26.95%
MSD Capital583.56%71.23%35.62%
Triple Frond Partners887.50%62.93%8.19%
H Partners381.32%62.64%59.34%
Dalal Street, LLC675.16%61.78%31.21%
Altarock Partners780.00%59.35%27.10%
Baker Street467.27%58.18%38.18%
Pershing Square Capital Management883.64%56.82%15.45%
Mittleman Brothers881.52%56.40%23.70%
Altai Capital Management677.48%54.05%28.83%
Daily Journal Corp.452.78%50.00%50.00%
Sageview Capital L.P.348.91%46.74%32.61%
The Children's Investment Fund565.12%46.51%32.56%
RBS Partners, L.P.664.71%45.88%33.53%
Salzman & Co.767.40%42.54%29.28%
Dorsey Asset Management1091.73%42.11%6.77%
Wintergreen Advisers957.96%39.82%10.62%
Invesco Private Capital, Inc.749.45%38.46%23.08%
Scion Asset Management1083.33%38.24%6.86%
MHR Fund Management943.30%37.55%22.22%
Joho Kapital1057.73%36.08%15.81%
Aquamarine Capital Management1546.56%30.62%1.56%
Sachem Head Capital1175.96%28.22%6.27%
ValueAct Holdings1647.86%23.02%3.84%
Breeden Capital Management955.56%22.22%22.22%
Brave Warrior Advisors1655.16%22.20%2.47%
Marcato Capital1640.28%21.55%4.92%
Arlington Value Capital, LLC1742.18%21.41%4.93%
Brenner West Capital Advisors1455.56%20.37%2.47%
Blue Harbour Group1745.85%20.12%0.62%
Hayman Capital1434.33%19.40%9.45%
Abrams Capital Management1745.49%17.82%2.94%
Fairholme Capital Management1525.93%16.36%9.35%
Teton Capital Partners1741.51%16.34%5.81%
Turtle Creek Asset Management, Inc.1844.74%15.31%5.02%
Centerbridge Partners1925.99%14.88%7.16%
Edinburgh Partners3525.60%12.52%0.57%
Icahn Capital1928.41%11.21%5.79%
Chou Associates Management2527.97%10.72%2.17%
West Coast Asset Management2150.00%10.32%0.00%
Fairfax Financial Holdings3811.67%9.80%4.67%
Hound Partners2534.18%9.08%0.28%
Kingstown Capital1852.55%8.82%0.20%
Marble Arch Investments1949.50%8.29%0.25%
Broad Run Investment Management2436.59%7.56%0.00%
Berkshire Hathaway4710.80%7.38%1.52%
GoodHaven Capital Management2431.38%7.36%0.15%
Moab Capital Partners, LLC3120.30%7.18%0.34%
Baupost Group LLC3320.35%6.86%1.20%
GoldenTree Asset Management2422.62%6.55%2.68%
Greenlight Capital3415.43%6.05%1.25%
Hillhouse Capital Management3311.76%5.70%3.88%
3G Capital Partners3512.86%5.47%1.18%
RA Capital Management3514.77%5.17%1.24%
Lane Five Capital Management2137.38%4.67%0.00%
Southeastern Asset Management3025.00%4.52%0.00%
Leucadia National316.41%4.46%3.66%
Bares Capital Management3232.14%4.45%0.11%
Duquesne Family Office3614.48%4.24%0.99%
Miura Global Management2432.79%4.17%0.00%
Giverny Capital3118.48%3.94%0.15%
Third Point3711.06%3.91%1.14%
Centaur Capital2824.18%3.62%0.00%
International Value Advisers3219.78%3.35%0.00%
Robotti & Company579.17%2.31%0.25%
Par Capital Management696.81%2.27%0.36%
Appaloosa Management4910.17%1.85%0.18%
Gates Capital Management2818.43%1.52%1.39%
Swift Run Capital4813.96%1.52%0.00%
Gardner Russo & Gardner1069.21%1.21%0.00%
Donald Smith & Co.716.43%1.15%0.00%
Ruane, Cunniff & Goldfarb1193.40%1.13%0.42%
Raffles Associates5110.32%1.13%0.00%
Nantahala Capital Management, LLC802.85%1.11%0.40%
Paulson & Co.727.36%0.95%0.00%
Avenir Corp6710.76%0.64%0.00%
Soros Fund Management2160.98%0.46%0.05%
Wedgewood Partners3323.19%0.43%0.00%
Cannell Capital625.91%0.40%0.00%
Lafayette Investments733.29%0.39%0.00%
Locust Wood Capital Advisers436.87%0.25%0.00%
Horizon Kinetics, LLC5110.46%0.16%0.05%
Glenview Capital Management585.77%0.12%0.00%
Lincoln Capital678.70%0.00%0.00%
Lone Pine Capital419.77%0.00%0.00%
Markel Corporation1242.35%0.00%0.00%
Weitz Investment Management714.43%0.00%0.00%