MARSHFIELD ASSOCIATES
13F Reported Value
ⓘ$4.3B
Holdings
17
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
MARSHFIELD ASSOCIATES disclosed 17 positions worth $4.3B in its Form 13F-HR for Q2 2026, led by $UNH (UNITEDHEALTH GROUP INC) at 14.9% of the equity portfolio, followed by $PGR and $AZO. During the quarter the fund opened 1 new position and exited 1 — including a new stake in $NKE and a full exit from $CMI. The portfolio is most concentrated in Financials (38.3% of disclosed assets). All figures are sourced directly from MARSHFIELD ASSOCIATES’s Form 13F-HR filing with the SEC under CIK 914976.
AI Fund Analysis
ConcentratingSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- 62.7#687
Quality
$634.3M1,526,157 sh - 80.1#27
Quality
$470.4M2,153,186 sh - 66.2#433
Quality
$435.8M136,373 sh - 82.9
Quality
$354.9M1,034,433 sh - —
Quality
$323.3M3,331,135 sh - 85.1
Quality
$293.9M572,290 sh - 66.0
Quality
$253.3M1,553,964 sh - 67.4
Quality
$252.4M2,740,457 sh - 79.1
Quality
$191.5M422,806 sh - 60.1
Quality
$189.0M638,541 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 UNITEDHEALTH GROUP INC$UNH | 62.7#687 | $634.3M | 1,526,157 |
 PROGRESSIVE CORP/OH/$PGR | 80.1#27 | $470.4M | 2,153,186 |
 AUTOZONE INC$AZO | 66.2#433 | $435.8M | 136,373 |
 VISA INC.$V | 82.9 | $354.9M | 1,034,433 |
 ARCH CAPITAL GROUP LTD.$ACGL | — | $323.3M | 3,331,135 |
 Mastercard Inc$MA | 85.1 | $293.9M | 572,290 |
 EXPEDITORS INTERNATIONAL OF WASHINGTON INC$EXPD | 66.0 | $253.3M | 1,553,964 |
 O REILLY AUTOMOTIVE INC$ORLY | 67.4 | $252.4M | 2,740,457 |
 MOODYS CORP /DE/$MCO | 79.1 | $191.5M | 422,806 |
 DOMINOS PIZZA INC$DPZ | 60.1 | $189.0M | 638,541 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of MARSHFIELD ASSOCIATES's 17 positions.
Showing top 10 of 17 holdings.
Sector Allocation
Financials
$1.6B
Consumer Discretionary
$1.5B
Healthcare
$634.3M
Industrials
$390.5M
Communication Services
$124.9M
Full Holdings — MARSHFIELD ASSOCIATES (Q2 2026)
All 17 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $UNH | UNITEDHEALTH GROUP INC | $634.3M | 14.9% | -19% | 62.7 |
| 2 | $PGR | PROGRESSIVE CORP/OH/ | $470.4M | 11.0% | -12% | 80.1 |
| 3 | $AZO | AUTOZONE INC | $435.8M | 10.2% | -17% | 66.2 |
| 4 | $V | VISA INC. | $354.9M | 8.3% | -18% | 82.9 |
| 5 | $ACGL | ARCH CAPITAL GROUP LTD. | $323.3M | 7.6% | +9% | — |
| 6 | $MA | Mastercard Inc | $293.9M | 6.9% | -5% | 85.1 |
| 7 | $EXPD | EXPEDITORS INTERNATIONAL OF WASHINGTON INC | $253.3M | 5.9% | -20% | 66 |
| 8 | $ORLY | O REILLY AUTOMOTIVE INC | $252.4M | 5.9% | -22% | 67.4 |
| 9 | $MCO | MOODYS CORP /DE/ | $191.5M | 4.5% | -22% | 79.1 |
| 10 | $DPZ | DOMINOS PIZZA INC | $189.0M | 4.4% | -15% | 60.1 |
| 11 |  $NKE | NIKE, Inc. | $178.3M | 4.2% | NEW | 49.3 |
| 12 |  $NVR | NVR INC | $137.2M | 3.2% | -21% | 56.3 |
| 13 |  $TJX | TJX COMPANIES INC /DE/ | $132.2M | 3.1% | -20% | 68.7 |
| 14 |  $ROST | ROSS STORES, INC. | $126.8M | 3.0% | -67% | 70.4 |
| 15 |  $DIS | Walt Disney Co | $124.9M | 2.9% | -21% | 60.1 |
| 16 |  $FAST | FASTENAL CO | $123.7M | 2.9% | -22% | 66.9 |
| 17 |  $STRA | Strategic Education, Inc. | $42.8M | 1.0% | -30% | 56.9 |
Browse Top Institutional Investors
13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.
to search all 8,700+ institutional filers.
Available Analysis
13F Pro tracks comprehensive institutional data for MARSHFIELD ASSOCIATES including:
Track MARSHFIELD ASSOCIATES's Full Portfolio
See every holding, quarter-over-quarter changes, sector allocation, and accumulation patterns for MARSHFIELD ASSOCIATES and 8,700+ other institutional investors.
Free tier includes full 13F search and fund profiles. Pro starts at $6.67/mo (billed annually).
AI-Powered Hedge Fund Analysis: MARSHFIELD ASSOCIATES
13F Pro is an AI hedge fund tracker and stock research platform. For MARSHFIELD ASSOCIATES (SEC CIK: 914976), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in MARSHFIELD ASSOCIATES's portfolio is scored on a 32-signal AI quality ranking (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.