MARSHFIELD ASSOCIATES — 13F Holdings & Portfolio
CIK 914976 · latest 13F-HR filed 2026-08-14
MARSHFIELD ASSOCIATES manages $4.26B in 13F-reported U.S. long-equity assets across 17 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are UNH (14.87%), PGR (11.03%), AZO (10.22%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 1 new position, exited 1, added to 2, and trimmed 12.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
SUITE 400
WASHINGTON, DC 20036
$4.26B
Long-equity book
17
Distinct positions
2026-06-30
Filed 2026-08-14
+1 / −1 / ↑2 / ↓12
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- UNITEDHEALTH GROUP INC$122.7M +24.0%
- ARCH CAP GROUP LTD$30.4M +10.4%
Top Trims
- ROSS STORES INC-$267.2M -67.8%
- AUTOZONE INC-$121.6M -21.8%
- DOMINOS PIZZA INC-$81.9M -30.2%
- OREILLY AUTOMOTIVE INC-$72.0M -22.2%
- MOODYS CORP-$43.6M -18.6%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | UNITEDHEALTH GROUP INC | UNH | 91324P102 | $634.3M | 14.87% | 1,526,157 | SH |
| 2 | PROGRESSIVE CORP | PGR | 743315103 | $470.4M | 11.03% | 2,153,186 | SH |
| 3 | AUTOZONE INC | AZO | 053332102 | $435.8M | 10.22% | 136,373 | SH |
| 4 | VISA INC | V | 92826C839 | $354.9M | 8.32% | 1,034,433 | SH |
| 5 | ARCH CAP GROUP LTD | ACGL | G0450A105 | $323.3M | 7.58% | 3,331,135 | SH |
| 6 | MASTERCARD INCORPORATED | MA | 57636Q104 | $293.9M | 6.89% | 572,290 | SH |
| 7 | EXPEDITORS INTL WASH INC | EXPD | 302130109 | $253.3M | 5.94% | 1,553,964 | SH |
| 8 | OREILLY AUTOMOTIVE INC | ORLY | 67103H107 | $252.4M | 5.92% | 2,740,457 | SH |
| 9 | MOODYS CORP | MCO | 615369105 | $191.5M | 4.49% | 422,806 | SH |
| 10 | DOMINOS PIZZA INC | DPZ | 25754A201 | $189.0M | 4.43% | 638,541 | SH |
| 11 | NIKE INC | NKE | 654106103 | $178.3M | 4.18% | 4,343,816 | SH |
| 12 | NVR INC | NVR | 62944T105 | $137.2M | 3.22% | 20,141 | SH |
| 13 | TJX COS INC NEW | TJX | 872540109 | $132.2M | 3.10% | 872,770 | SH |
| 14 | ROSS STORES INC | ROST | 778296103 | $126.8M | 2.97% | 595,704 | SH |
| 15 | DISNEY WALT CO | DIS | 254687106 | $124.9M | 2.93% | 1,298,132 | SH |
| 16 | FASTENAL CO | FAST | 311900104 | $123.7M | 2.90% | 2,574,816 | SH |
| 17 | STRATEGIC ED INC | STRA | 86272C103 | $42.8M | 1.00% | 559,012 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $4.26B | 17 | 0001172661-26-003813 |
| 2026-03-31 | 2026-05-15 | $4.99B | 17 | 0001172661-26-002329 |
| 2025-12-31 | 2026-02-17 | $5.70B | 17 | 0001172661-26-001075 |
| 2025-09-30 | 2025-11-14 | $5.78B | 17 | 0001172661-25-005042 |