Portfolio Concentration

CompanyAvg. Holdings+5%+10%+20%
Tesuji Partners, LLC694.33%72.34%26.95%
MSD Capital685.27%72.09%34.88%
Punch Card Capital, L.P.479.73%71.62%56.76%
Triple Frond Partners888.71%66.13%7.53%
Altarock Partners780.65%59.68%25.00%
Dalal Street, LLC672.92%59.03%27.08%
Baker Street467.27%58.18%38.18%
H Partners479.01%58.02%54.32%
Mittleman Brothers880.79%55.93%24.86%
Pershing Square Capital Management884.27%53.93%17.98%
Daily Journal Corp.452.38%50.00%50.00%
Altai Capital Management673.86%47.73%25.00%
Sageview Capital L.P.449.43%47.13%32.18%
The Children's Investment Fund565.12%46.51%32.56%
RBS Partners, L.P.763.16%44.74%30.92%
Salzman & Co.765.00%40.62%26.88%
Wintergreen Advisers1058.11%40.09%10.36%
Invesco Private Capital, Inc.747.93%37.87%21.30%
MHR Fund Management944.02%37.32%22.97%
Joho Kapital1060.76%36.29%14.77%
Scion Asset Management1081.25%35.42%10.42%
Sachem Head Capital1175.64%27.78%5.98%
Aquamarine Capital Management1543.35%27.76%1.52%
ValueAct Holdings1453.31%25.00%3.61%
Brave Warrior Advisors1558.17%23.21%3.15%
Breeden Capital Management955.56%22.22%22.22%
Marcato Capital1741.94%21.48%4.09%
Abrams Capital Management1644.68%21.01%3.72%
Arlington Value Capital, LLC1741.58%20.92%4.59%
Brenner West Capital Advisors1455.56%20.37%2.47%
Turtle Creek Asset Management, Inc.1647.40%20.07%7.27%
Hayman Capital1434.33%19.40%9.45%
Blue Harbour Group1843.71%17.81%0.00%
Fairholme Capital Management1825.49%15.93%8.58%
Teton Capital Partners1643.01%15.05%6.99%
Edinburgh Partners3525.60%12.52%0.57%
Centerbridge Partners2023.50%12.39%6.84%
Icahn Capital1929.02%11.38%5.80%
Hound Partners2436.20%10.42%0.37%
West Coast Asset Management2150.00%10.32%0.00%
Chou Associates Management2529.66%10.17%1.38%
Fairfax Financial Holdings3811.74%9.90%4.83%
Marble Arch Investments1949.50%8.29%0.25%
Berkshire Hathaway4710.84%7.94%1.40%
GoodHaven Capital Management2432.42%7.65%0.18%
Baupost Group LLC3320.11%7.14%1.46%
Moab Capital Partners, LLC3219.75%7.08%0.41%
GoldenTree Asset Management2422.40%6.45%1.97%
Kingstown Capital1952.09%6.28%0.23%
Broad Run Investment Management2434.94%6.24%0.00%
Hillhouse Capital Management3311.62%5.68%3.83%
RA Capital Management3515.25%5.25%1.00%
Duquesne Family Office3216.44%4.99%1.08%
Miura Global Management2334.67%4.79%0.00%
Greenlight Capital3713.50%4.77%1.05%
Southeastern Asset Management3025.65%4.76%0.00%
Lane Five Capital Management2137.38%4.67%0.00%
Giverny Capital2920.95%4.10%0.22%
Third Point3810.47%4.03%1.15%
Centaur Capital2824.18%3.62%0.00%
Leucadia National344.90%3.48%3.10%
Bares Capital Management3331.21%3.37%0.12%
3G Capital Partners4010.07%3.32%0.57%
International Value Advisers3318.37%2.62%0.00%
Robotti & Company579.56%1.99%0.31%
Par Capital Management746.56%1.89%0.06%
Appaloosa Management4910.17%1.85%0.18%
Gates Capital Management2816.59%1.84%1.69%
Swift Run Capital5012.64%1.15%0.00%
Ruane, Cunniff & Goldfarb1193.40%1.13%0.42%
Donald Smith & Co.735.48%1.13%0.00%
Nantahala Capital Management, LLC773.15%1.07%0.39%
Gardner Russo & Gardner1099.15%0.96%0.00%
Raffles Associates519.61%0.86%0.00%
Paulson & Co.766.68%0.75%0.00%
Wedgewood Partners3025.69%0.43%0.00%
Soros Fund Management2280.86%0.40%0.00%
Cannell Capital664.96%0.40%0.00%
Avenir Corp6611.48%0.39%0.00%
Locust Wood Capital Advisers426.98%0.31%0.00%
Lafayette Investments703.53%0.19%0.00%
Horizon Kinetics, LLC5110.46%0.16%0.05%
Glenview Capital Management614.73%0.14%0.00%
Lincoln Capital648.68%0.00%0.00%
Lone Pine Capital438.79%0.00%0.00%
Markel Corporation1222.52%0.00%0.00%
Weitz Investment Management714.48%0.00%0.00%