Ruane, Cunniff & Goldfarb

Q2 2013 13F

As of: Jun 30, 2013
Filed: Aug 14, 2013
US stock: $15.5B
Positions: 148
Options notional: $0
Documents: 1· no amendments

Picture99.6% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 99.6%
Foreign stock not listed in the US 0.4%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves

First filing on record. Nothing to compare against.

The book

Concentrated · behaves like 13 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Turnover · first filing on record

Low
Moderate
High

Top 5 positions52% of US stock

unresolved Valeant Pharmaceuticals Intl held held19.3%
BRK.A Berkshire Hathaway Inc. held held11.6%
TJX TJX Companies, Inc. (The) held held10.3%
FAST Fastenal Co held held6.1%
unresolved Precision Castparts Corp held held4.6%

Positions148 in this filing · 0 exited


unresolvedValeant Pharmaceuticals Intl	19.25%	34,738,116	$3.0B	held	—	new
BRK.ABerkshire Hathaway Inc.	11.64%	10,723	$1.8B	held	—	new
TJXTJX Companies, Inc. (The)	10.28%	31,882,238	$1.6B	held	—	new
FASTFastenal Co	6.11%	20,736,118	$950M	held	—	new
unresolvedPrecision Castparts Corp	4.58%	3,149,345	$712M	held	—	new
unresolvedGoogle Inc.	3.83%	676,559	$596M	held	—	new
BRK.BBERKSHIRE HATHAWAY Class B	3.36%	4,669,282	$523M	held	—	new
AAPAdvance Auto Parts Inc	3.27%	6,250,587	$507M	held	—	new
IDXXIdexx Laboratories Inc	3.09%	5,351,762	$480M	held	—	new
MHKMohawk Industries, Inc.	2.76%	3,808,438	$428M	held	—	new
ORLYO'Reilly Automotive, Inc.	2.66%	3,673,206	$414M	held	—	new
MAMastercard Incorporated	2.04%	550,412	$316M	held	—	new
IBMInternational Business Machines Corporation	1.85%	1,505,108	$288M	held	—	new
WKCWorld Kinect Corporation	1.73%	6,705,937	$268M	held	—	new
RRCRange Resources Corp	1.50%	3,006,450	$232M	held	—	new
PXGBXPraxair Inc	1.43%	1,927,780	$222M	held	—	new
GSGoldman Sachs Group Inc.	1.36%	1,398,951	$212M	held	—	new
WATWaters Corp	1.36%	2,118,237	$212M	held	—	new
unresolvedPerrigo Co	1.35%	1,738,598	$210M	held	—	new
VVISA Inc.	1.35%	1,148,351	$210M	held	—	new
unresolvedSirona Dental Systems Inc	1.25%	2,955,980	$195M	held	—	new
OMCOmnicom Group Inc.	1.20%	2,965,726	$186M	held	—	new
WMTWalmart Inc.	1.12%	2,327,768	$173M	held	—	new
TIFTiffany & Co.	1.02%	2,171,952	$158M	held	—	new
PRIPrimerica, Inc.	0.90%	3,720,625	$139M	held	—	new
JECJacobs Engineering Group	0.70%	1,972,624	$109M	held	—	new
AXPAmerican Express Company	0.66%	1,361,063	$102M	held	—	new
DHRDanaher Corporation	0.61%	1,489,155	$94M	held	—	new
RBARB Global, Inc.	0.59%	4,741,552	$91M	held	—	new
BROBrown & Brown, Inc.	0.58%	2,798,246	$90M	held	—	new
TRMBTrimble Inc.	0.58%	3,467,796	$90M	held	—	new
COSTCostco Wholesale Corp	0.53%	744,517	$82M	held	—	new
EMEEMCOR Group, Inc.	0.45%	1,708,378	$69M	held	—	new
CHKChesapeake Energy Corp	0.34%	2,605,605	$53M	held	—	new
TKRThe Timken Company	0.33%	914,255	$51M	held	—	new
PXDPioneer Natural Resource Co.	0.28%	301,360	$44M	held	—	new
WSTWest Pharmaceutical Services, Inc.	0.25%	561,131	$39M	held	—	new
SW5Southwestern Energy Co	0.24%	1,003,475	$37M	held	—	new
KOCoca-Cola Company	0.22%	842,331	$34M	held	—	new
MANManpowerGroup	0.21%	603,480	$33M	held	—	new
unresolvedMondelez International	0.20%	1,061,938	$30M	held	—	new
unresolvedAon PLC	0.18%	426,650	$27M	held	—	new
unresolvedColfax Corp	0.17%	503,400	$26M	held	—	new
9990302DApache Corp	0.16%	301,971	$25M	held	—	new
1885807DAthenahealth Inc	0.16%	300,000	$25M	held	—	new
unresolvedConcur Technologies Inc	0.16%	310,579	$25M	held	—	new
CNQCanadian Natural Resources Limited	0.15%	831,596	$24M	held	—	new
ORCLOracle Corp	0.15%	762,393	$23M	held	—	new
unresolvedIAC Interactivecorp	0.12%	400,000	$19M	held	—	new
QCOMQualcomm Inc	0.12%	300,982	$18M	held	—	new
2663134DBitauto Holdings Ltd-adr	0.10%	1,350,000	$15M	held	—	new
EXPDExpeditors International of Washington, Inc.	0.08%	319,746	$12M	held	—	new
GLREGreenlight Captial RE, LTD. Class A	0.07%	441,764	$11M	held	—	new
CTSHCognizant Technology Solutions	0.06%	154,950	$10M	held	—	new
PMPhilip Morris International Inc.	0.06%	101,425	$9M	held	—	new
PGProcter & Gamble Company	0.06%	127,951	$10M	held	—	new
UPLUltra Petroleum Corp	0.06%	501,940	$10M	held	—	new
EXMOCExxon Mobil Corp	0.05%	91,451	$8M	held	—	new
IBKRInteractive Brokers Group, Inc. Class A	0.05%	505,612	$8M	held	—	new
unresolvedLinear Technology Group	0.05%	213,733	$8M	held	—	new
MCDMcDonald's Corporation	0.05%	72,286	$7M	held	—	new
CATCaterpillar Inc.	0.04%	70,542	$6M	held	—	new
unresolvedEnstar Group Inc GA	0.04%	50,000	$7M	held	—	new
unresolvedGeneral Electric Co	0.04%	243,128	$6M	held	—	new
unresolvedPactera Technology Intl Ltd Sp	0.04%	1,000,000	$7M	held	—	new
unresolvedResource America Inc Cl A	0.04%	796,000	$7M	held	—	new
unresolvedSolta Med Inc.	0.04%	2,386,937	$5M	held	—	new
CRESYCresud SA	0.03%	605,247	$4M	held	—	new
unresolvedDice Holdings Inc	0.03%	500,000	$5M	held	—	new
NVONovo-Nordisk A/S	0.03%	34,640	$5M	held	—	new
PEPPepsiCo, Inc.	0.03%	59,089	$5M	held	—	new
UNPUnion Pacific Corp.	0.03%	32,763	$5M	held	—	new
VRSKVerisk Analytics, Inc.	0.03%	68,825	$4M	held	—	new
MOAltria Group, Inc.	0.02%	85,624	$3M	held	—	new
DISThe Walt Disney Company	0.02%	49,122	$3M	held	—	new
unresolvedIntercontinental Exchange Ange	0.02%	13,430	$2M	held	—	new
unresolvedMove Inc.	0.02%	249,111	$3M	held	—	new
PGRProgressive Corporation	0.02%	138,447	$4M	held	—	new
SRMLFStorm Resources Ltd	0.02%	1,325,600	$3M	held	—	new
WFCWells Fargo & Co.	0.02%	89,850	$4M	held	—	new
CVSCvs Health Corporation	0.01%	24,155	$1M	held	—	new
unresolvedCorinthian Colleges Inc	0.01%	1,000,000	$2M	held	—	new
unresolvedDirectv	0.01%	34,264	$2M	held	—	new
EIXEdison International	0.01%	46,300	$2M	held	—	new
FITBFifth Third Bancorp	0.01%	114,508	$2M	held	—	new
HTLDHeartland Express Inc	0.01%	101,057	$1M	held	—	new
HDHome Depot, Inc.	0.01%	26,503	$2M	held	—	new
JPMJPMorgan Chase & Co.	0.01%	17,893	$945,000	held	—	new
JNJJohnson & Johnson	0.01%	14,307	$1M	held	—	new
unresolvedKraft Foods Group Inc	0.01%	19,271	$1M	held	—	new
LIILennox International Inc.	0.01%	20,971	$1M	held	—	new
MSFTMicrosoft Corp	0.01%	64,561	$2M	held	—	new
PAMPampa Energia S.a.	0.01%	605,980	$2M	held	—	new
unresolvedQuicksilver Resources Inc	0.01%	1,178,000	$2M	held	—	new
RDS.ARoyal Dutch Shell PLC	0.01%	27,903	$2M	held	—	new
SHWThe Sherwin-Williams Company	0.01%	5,307	$937,000	held	—	new
unresolvedSunTrust Banks Inc	0.01%	31,203	$985,000	held	—	new
USBU.S. Bancorp	0.01%	26,264	$949,000	held	—	new
unresolvedWashington Post Co	0.01%	4,323	$2M	held	—	new
TAT&T Inc.	0.00%	5,650	$200,000	held	—	new
AEPAmerican Electric Power Company, Inc.	0.00%	15,300	$685,000	held	—	new
APEIAmerican Public Education, Inc.	0.00%	20,745	$771,000	held	—	new
AAPLApple Inc.	0.00%	1,650	$654,000	held	—	new
AMATApplied Materials Inc	0.00%	13,692	$204,000	held	—	new
ADPAutomatic Data Processing	0.00%	6,011	$414,000	held	—	new
BPBP p.l.c.	0.00%	5,762	$241,000	held	—	new
BACBank of America Corporation	0.00%	17,648	$227,000	held	—	new
BDXBecton, Dickinson and Co.	0.00%	2,272	$225,000	held	—	new
BBYD20230930-DK-BUTTERFLY-1 Inc	0.00%	6,030	$428,000	held	—	new
unresolvedVerizon Communications	0.00%	4,975	$250,000	held	—	new
CVXChevron Corporation	0.00%	5,668	$671,000	held	—	new
unresolvedCitigroup Inc	0.00%	6,146	$295,000	held	—	new
CLColgate-Palmolive Company	0.00%	3,622	$208,000	held	—	new
unresolvedComcast Corp. Spl Cl A	0.00%	7,474	$296,000	held	—	new
unresolvedCousins Properties Inc.	0.00%	12,826	$130,000	held	—	new
DVNDevon Energy Corporation	0.00%	4,745	$246,000	held	—	new
unresolvedDu Pont E I De Nemours & Co	0.00%	4,155	$218,000	held	—	new
DUKDuke Energy Corporation	0.00%	2,964	$200,000	held	—	new
EMREmerson Electric Co.	0.00%	4,220	$230,000	held	—	new
unresolvedEnergizer Hldgs Inc	0.00%	2,782	$280,000	held	—	new
unresolvedExpress Scripts Hldg Co	0.00%	5,757	$355,000	held	—	new
HDBHDFC Bank Limited	0.00%	18,310	$664,000	held	—	new
HIWHighwoods Properties Inc.	0.00%	13,050	$465,000	held	—	new
IEXIDEX Corporation	0.00%	7,985	$430,000	held	—	new
INTCIntel Corp	0.00%	13,882	$336,000	held	—	new
unresolvedKinder Morgan Energy Partners	0.00%	2,400	$205,000	held	—	new
unresolvedLeucadia National	0.00%	16,471	$432,000	held	—	new
LMTLockheed Martin Corp.	0.00%	2,550	$277,000	held	—	new
LOWLowe's Companies Inc.	0.00%	9,214	$377,000	held	—	new
unresolvedMcGraw Hill	0.00%	3,840	$204,000	held	—	new
unresolvedMedia Gen Inc	0.00%	10,000	$110,000	held	—	new
Nuveen Ohio Quality Incconvertible	0.00%	10,000	$100,000	held	—	new
PFEPfizer Inc.	0.00%	10,422	$292,000	held	—	new
TROWT Rowe Price Group Inc	0.00%	4,110	$301,000	held	—	new
RSGRepublic Services Inc.	0.00%	12,775	$434,000	held	—	new
RHIRobert Half Inc.	0.00%	7,000	$233,000	held	—	new
ROPRoper Technologies, Inc.	0.00%	4,465	$555,000	held	—	new
unresolvedRyanair Holdings PLC ADR	0.00%	8,827	$455,000	held	—	new
SEICSEI Investments Co	0.00%	10,000	$284,000	held	—	new
SRCLStericycle Inc	0.00%	3,000	$331,000	held	—	new
TGTTarget Corporation	0.00%	10,519	$724,000	held	—	new
MMM3M Company	0.00%	1,958	$214,000	held	—	new
WPPWpp PLC	0.00%	3,408	$291,000	held	—	new
unresolvedYoung Broadcasting Inc Cl A	0.00%	144,865	$0	held	—	new
ZTSZoetis Inc.	0.00%	20,044	$619,000	held	—	new
ACGLArch Capital Group Ltd	0.00%	11,988	$616,000	held	—	new
unresolvedBlue Earth Refineries	0.00%	15,000	$0	held	—	new
JARLFJardine Matheson Hldg Ord	0.00%	3,600	$216,000	held	—	new