Ruane, Cunniff & Goldfarb

Q2 2021 13F

As of: Jun 30, 2021
Filed: Aug 13, 2021
US stock: $11.3B · prev $10.6B
Positions: 35 · prev 37
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

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

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves34 since the prior filing

+4.6 pp in · −4.6 pp out

New 0 0.00 pp
Added 6 +4.63 pp
Trimmed 26 −2.21 pp
Exited 2 −2.41 pp

The book

Concentrated · behaves like 19 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 20% a year, about 4.9 years per position

Low
Moderate
High

Top 5 positions35% of US stock

KMX CarMax Inc. trimmed−0.80 pp trimmed−0.807.7%
META Meta Platforms, Inc. Class A trimmed+0.67 pp trimmed+0.677.6%
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) added+0.28 pp added+0.286.8%
CACC Credit Acceptance Corp trimmed+0.96 pp trimmed+0.966.5%
ELV Elevance Health, Inc. added+2.28 pp added+2.286.2%

Positions35 in this filing · 2 exited


KMXCarMax Inc.	7.70%	6,726,194	$869M	trimmed−1%	−0.80 pp	21 q
METAMeta Platforms, Inc. Class A	7.64%	2,477,616	$861M	trimmed−2%	+0.67 pp	19 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	6.85%	1,929,038	$772M	added+3%	+0.28 pp	7 q
CACCCredit Acceptance Corp	6.45%	1,603,435	$728M	trimmed−1%	+0.96 pp	18 q
ELVElevance Health, Inc.	6.24%	1,844,001	$704M	added+57%	+2.28 pp	2 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	6.23%	5,849,332	$703M	trimmed−1%	−0.35 pp	7 q
MUMicron Technology, Inc.	6.14%	8,148,721	$692M	added+53%	+1.72 pp	2 q
SCHWThe Charles Schwab Corporation	5.68%	8,795,942	$640M	trimmed−4%	+0.08 pp	21 q
GOOGAlphabet Inc. Class C	4.69%	210,948	$529M	trimmed−1%	+0.53 pp	29 q
GOOGLAlphabet Inc. Class A	4.51%	208,289	$509M	trimmed−2%	+0.41 pp	24 q
FWONKLiberty Media Corporation Series C Liberty Formula One	4.40%	10,297,809	$496M	trimmed−1%	+0.15 pp	19 q
LBRDKLiberty Broadband Corporation Class C	4.28%	2,781,511	$483M	trimmed−1%	+0.31 pp	14 q
DISThe Walt Disney Company	4.18%	2,685,610	$472M	trimmed−1%	−0.55 pp	5 q
NFLXNetFlix Inc	3.75%	800,054	$423M	added+15%	+0.35 pp	3 q
WWayfair Inc.	3.65%	1,303,191	$411M	trimmed−1%	−0.25 pp	8 q
JECJacobs Engineering Group	3.61%	3,052,225	$407M	trimmed−22%	−1.12 pp	33 q
ICEIntercontinental Exchange Inc.	3.58%	3,397,927	$403M	trimmed−1%	−0.02 pp	4 q
BRK.ABerkshire Hathaway Inc.	2.82%	761	$319M	trimmed−6%	−0.10 pp	33 q
FISFidelity National Information Services, Inc.	2.38%	1,898,755	$269M	trimmed−1%	−0.15 pp	4 q
ANETArista Networks	1.99%	619,855	$225M	trimmed−57%	−2.09 pp	9 q
BRK.BBERKSHIRE HATHAWAY Class B	1.49%	606,479	$169M	trimmed−2%	0.00 pp	33 q
LBRDALiberty Broadband Corporation Class A	1.41%	944,522	$159M	trimmed−1%	+0.11 pp	14 q
LM05Liberty Media Corp-liberty-a	0.12%	316,930	$14M	trimmed−4%	0.00 pp	19 q
EXPDExpeditors International of Washington, Inc.	0.11%	102,132	$13M	held	—	33 q
BLDRBuilders FirstSource, Inc.	0.03%	68,851	$3M	trimmed−4%	0.00 pp	21 q
AMZNAmazon.Com Inc	0.02%	660	$2M	trimmed−3%	0.00 pp	19 q
MHKMohawk Industries, Inc.	0.02%	10,833	$2M	held	—	33 q
BABAAlibaba Group Holding Limited	0.01%	3,405	$772,000	trimmed−3%	0.00 pp	2 q
EQHEquitable Holdings, Inc.	0.01%	30,459	$927,000	trimmed−3%	0.00 pp	3 q
SBGISinclair, Inc. Class A	0.01%	17,719	$589,000	trimmed−15%	0.00 pp	6 q
STLAStellantis N.V.	0.01%	46,503	$917,000	trimmed−4%	0.00 pp	2 q
ANGIAngi Inc. Class A	0.00%	12,505	$169,000	added+4%	0.00 pp	6 q
GTTGTT Communications, Inc.	0.00%	21,320	$52,000	trimmed−12%	0.00 pp	8 q
IMXIInternational Money Express, Inc.	0.00%	12,397	$184,000	added+10%	0.00 pp	2 q
PRIPrimerica, Inc.	0.00%	1,400	$214,000	held	—	2 q
MAMastercard Incorporated	—	−503,701	—	exited	−1.69 pp	—
VVISA Inc.	—	−363,886	—	exited	−0.72 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000919574-21-005154
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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