Marshfield Associates

Investment Portfolio & 13F Holdings Analysis

About

Type: FundHoldings: 18Value: $4.6BLatest: 2025Q1

MARSHFIELD ASSOCIATES is an institutional investment manager that filed its latest Form 13F for 2025Q1, reporting 18 holdings worth $4.6 billion. Form 13F filings provide transparency into the equity holdings of institutional investment managers with over $100 million in assets under management. This page displays the most recent portfolio holdings, allowing investors to track position changes, new investments, and portfolio composition.

AI_NATIVE detailed information: This accession holds the following tickers:[
  "NVR",
  "CMI",
  "STRA",
  "EXPD",
  "MA",
  "ORLY",
  "FAST",
  "VGSH",
  "PGR",
  "ROST",
  null,
  "TJX",
  "ACGL",
  "V",
  "AZO",
  "DPZ",
  "MCO",
  "DIS"
]

Filing Details

13F-HR • 2025-03-31

SEC FilingSEC DataHachi Filing

Report Date: 2025-03-31
Filing Date: 2025-05-15
Total Holdings: 18
Total Value: 4615810240
Accession Number: 0001172661-25-002352
Form Type: 13F-HR
CIK: marshfield-associates
Manager Name: Marshfield-Associates

Data Enrichment

94% identified

17 identified1 unidentified

Holdings

SEC FilingSEC DataHachi Filing

Manager:

18 positions • $4.6B total value

SEC FilingSEC DataHachi Filing

Manager:

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AUTOZONE INC

AZO|053332102

Shares:169.8K

Value:$647.4M

% of Portfolio:14.0% ($647.4M/$4.6B)

ROSS STORES, INC.

ROST|778296103

Shares:3.9M

Value:$499.2M

% of Portfolio:10.8% ($499.2M/$4.6B)

O REILLY AUTOMOTIVE INC

ORLY|67103H107

Shares:287.9K

Value:$412.5M

% of Portfolio:8.9% ($412.5M/$4.6B)

VISA INC.

V|92826C839

Shares:940.6K

Value:$329.6M

% of Portfolio:7.1% ($329.6M/$4.6B)

DOMINOS PIZZA INC

DPZ|25754A201

Shares:717.0K

Value:$329.4M

% of Portfolio:7.1% ($329.4M/$4.6B)

CUMMINS INC

CMI|231021106

Shares:1.1M

Value:$329.3M

% of Portfolio:7.1% ($329.3M/$4.6B)

Mastercard Inc

MA|57636Q104

Shares:562.9K

Value:$308.5M

% of Portfolio:6.7% ($308.5M/$4.6B)

PROGRESSIVE CORP/OH/

PGR|743315103

Shares:937.2K

Value:$265.2M

% of Portfolio:5.7% ($265.2M/$4.6B)

ARCH CAPITAL GROUP LTD.

ACGL|G0450A105

Shares:2.6M

Value:$246.3M

% of Portfolio:5.3% ($246.3M/$4.6B)

MOODYS CORP /DE/

MCO|615369105

Shares:513.9K

Value:$239.3M

% of Portfolio:5.2% ($239.3M/$4.6B)

EXPEDITORS INTERNATIONAL OF WASHINGTON INC

EXPD|302130109

Shares:1.8M

Value:$221.5M

% of Portfolio:4.8% ($221.5M/$4.6B)

NVR INC

NVR|62944T105

Shares:23.8K

Value:$172.7M

% of Portfolio:3.7% ($172.7M/$4.6B)

Walt Disney Co

DIS|254687106

Shares:1.6M

Value:$157.9M

% of Portfolio:3.4% ($157.9M/$4.6B)

Strategic Education, Inc.

STRA|86272C103

Shares:1.8M

Value:$155.2M

% of Portfolio:3.4% ($155.2M/$4.6B)

FASTENAL CO

FAST|311900104

Shares:2.0M

Value:$153.1M

% of Portfolio:3.3% ($153.1M/$4.6B)

TJX COMPANIES INC /DE/

TJX|872540109

Shares:1.1M

Value:$134.9M

% of Portfolio:2.9% ($134.9M/$4.6B)

78468R663

Shares:132.0K

Value:$12.1M

% of Portfolio:0.3% ($12.1M/$4.6B)

92206C102

VGSH|92206C102

Shares:26.9K

Value:$1.6M

% of Portfolio:0.0% ($1.6M/$4.6B)

Instrument	Shares		Other Manager	Value	% of Portfolio
AUTOZONE INC(AZOcusip053332102)	169.8K	QoQ -0.27% (-471) YoY +0.80% (+1.4K)	All Managers (Combined)	$647.4M	14.0% ($647.4M/$4.6B)	QoQ +18.74% (-$102.2M) YoY +21.95% (+$116.5M)
ROSS STORES, INC.(ROSTcusip778296103)	3.9M	QoQ -0.21% (-8.4K) YoY +0.47% (-18.3K)	All Managers (Combined)	$499.2M	10.8% ($499.2M/$4.6B)	QoQ -15.70% (-$93.0M) YoY -12.51% (-$71.4M)
O REILLY AUTOMOTIVE INC(ORLYcusip67103H107)	287.9K	QoQ -6.00% (-18.4K) YoY -4.39% (-13.3K)	All Managers (Combined)	$412.5M	8.9% ($412.5M/$4.6B)	QoQ +13.55% (-$49.2M) YoY +21.31% (-$72.5M)
VISA INC.(Vcusip92826C839)	940.6K	QoQ +0.72% (+6.8K) YoY +1.88% (+17.4K)	All Managers (Combined)	$329.6M	7.1% ($329.6M/$4.6B)	QoQ +11.69% (+$34.5M) YoY +27.94% (+$72.0M)
DOMINOS PIZZA INC(DPZcusip25754A201)	717.0K	QoQ +0.21% (+1.5K) YoY +0.80% (-5.7K)	All Managers (Combined)	$329.4M	7.1% ($329.4M/$4.6B)	QoQ +9.68% (+$29.1M) YoY -6.78% (-$24.0M)
CUMMINS INC(CMIcusip231021106)	1.1M	QoQ +0.34% (-3.6K) YoY +1.06% (+11.1K)	All Managers (Combined)	$329.3M	7.1% ($329.3M/$4.6B)	QoQ -9.77% (-$35.7M) YoY +7.51% (+$23.0M)
Mastercard Inc(MAcusip57636Q104)	562.9K	QoQ +1.12% (+6.2K) YoY +2.75% (+15.1K)	All Managers (Combined)	$308.5M	6.7% ($308.5M/$4.6B)	QoQ +5.26% (+$15.4M) YoY +16.95% (+$44.7M)
PROGRESSIVE CORP/OH/(PGRcusip743315103)	937.2K	QoQ +7.32% (+64.0K) YoY -26.38% (-335.9K)	All Managers (Combined)	$265.2M	5.7% ($265.2M/$4.6B)	QoQ +26.76% (+$56.0M) YoY +0.73% (-$1.9M)
ARCH CAPITAL GROUP LTD.(ACGLcusipG0450A105)	2.6M	QoQ -0.15% (-3.9K) YoY -40.83% (-1.8M)	All Managers (Combined)	$246.3M	5.3% ($246.3M/$4.6B)	QoQ +3.98% (-$9.4M) YoY -38.44% (-$153.8M)
MOODYS CORP /DE/(MCOcusip615369105)	513.9K	QoQ +0.54% (-2.8K) YoY -0.19% (-1.0K)	All Managers (Combined)	$239.3M	5.2% ($239.3M/$4.6B)	QoQ -1.08% (-$2.6M) YoY +18.25% (-$36.9M)
EXPEDITORS INTERNATIONAL OF WASHINGTON INC(EXPDcusip302130109)	1.8M	QoQ +0.77% (+14.1K) YoY +2.01% (+36.3K)	All Managers (Combined)	$221.5M	4.8% ($221.5M/$4.6B)	QoQ +9.39% (+$19.0M) YoY +0.90% (+$2.0M)
NVR INC(NVRcusip62944T105)	23.8K	QoQ +1.08% (-256) YoY -26.92% (-8.8K)	All Managers (Combined)	$172.7M	3.7% ($172.7M/$4.6B)	QoQ -10.46% (-$20.2M) YoY -34.64% (-$91.6M)
Walt Disney Co(DIScusip254687106)	1.6M	QoQ +0.44% (-7.0K) YoY +1.15% (-18.2K)	All Managers (Combined)	$157.9M	3.4% ($157.9M/$4.6B)	QoQ -10.96% (-$19.4M) YoY -18.40% (-$35.6M)
Strategic Education, Inc.(STRAcusip86272C103)	1.8M	QoQ +0.68% (-12.5K) YoY +2.07% (-37.6K)	All Managers (Combined)	$155.2M	3.4% ($155.2M/$4.6B)	QoQ -9.51% (-$16.3M) YoY -17.68% (-$33.4M)
FASTENAL CO(FASTcusip311900104)	2.0M	QoQ +0.65% (+12.9K) YoY -0.77% (-15.3K)	All Managers (Combined)	$153.1M	3.3% ($153.1M/$4.6B)	QoQ +8.55% (+$12.1M) YoY -0.24% (-$374.5K)
TJX COMPANIES INC /DE/(TJXcusip872540109)	1.1M	QoQ -50.98% (-1.2M) YoY -68.72% (-2.4M)	All Managers (Combined)	$134.9M	2.9% ($134.9M/$4.6B)	QoQ -50.58% (-$138.1M) YoY -62.44% (-$224.4M)
(cusip78468R663)✕	132.0K	QoQ -1.44% (-1.9K) YoY +61.83% (+50.5K)	All Managers (Combined)	$12.1M	0.3% ($12.1M/$4.6B)	QoQ -1.11% (-$137.1K) YoY +61.71% (+$4.6M)
(VGSHcusip92206C102)	26.9K	QoQ 0.00% (+0) YoY 0.00% (+0)	All Managers (Combined)	$1.6M	0.0% ($1.6M/$4.6B)	QoQ +0.87% (+$13.7K) YoY +1.06% (+$16.7K)