Ruane, Cunniff & Goldfarb

Q1 2022 13F

As of: Mar 31, 2022
Filed: May 13, 2022
US stock: $10.2B · prev $11.7B
Positions: 34 · prev 34
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%

Moves31 since the prior filing

−1.4 pp in · +1.4 pp out

New 1 0.00 pp
Added 10 −1.41 pp
Trimmed 19 +1.40 pp
Exited 1 0.00 pp

The book

Concentrated · behaves like 17 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 13% a year, about 7.9 years per position

Low
Moderate
High

Top 5 positions38% of US stock

UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) trimmed+1.12 pp trimmed+1.129.1%
ELV Elevance Health, Inc. trimmed+1.49 pp trimmed+1.498.5%
TSM Taiwan Semiconductor Manufacturing Company Ltd. trimmed−0.20 pp trimmed−0.207.0%
SCHW The Charles Schwab Corporation trimmed+0.75 pp trimmed+0.756.8%
FWONK Liberty Media Corporation Series C Liberty Formula One trimmed+1.28 pp trimmed+1.286.7%

Positions34 in this filing · 1 exited


UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	9.14%	1,820,398	$928M	trimmed−3%	+1.12 pp	10 q
ELVElevance Health, Inc.	8.50%	1,757,428	$863M	trimmed−1%	+1.49 pp	5 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	6.97%	6,791,644	$708M	trimmed−3%	−0.20 pp	10 q
SCHWThe Charles Schwab Corporation	6.84%	8,239,929	$695M	trimmed−3%	+0.75 pp	24 q
FWONKLiberty Media Corporation Series C Liberty Formula One	6.67%	9,699,190	$677M	trimmed−3%	+1.28 pp	22 q
KMXCarMax Inc.	6.55%	6,897,774	$665M	trimmed−1%	−1.20 pp	24 q
METAMeta Platforms, Inc. Class A	6.21%	2,834,735	$630M	added+7%	−1.39 pp	22 q
MUMicron Technology, Inc.	5.91%	7,705,409	$600M	trimmed−1%	−0.28 pp	5 q
GOOGLAlphabet Inc. Class A	5.73%	209,177	$582M	trimmed−0%	+0.53 pp	27 q
NFLXNetFlix Inc	5.27%	1,428,972	$535M	added+84%	+1.28 pp	6 q
GOOGAlphabet Inc. Class C	5.01%	181,971	$508M	trimmed−3%	+0.37 pp	32 q
CACCCredit Acceptance Corp	4.67%	861,752	$474M	trimmed−4%	−0.58 pp	21 q
ICEIntercontinental Exchange Inc.	4.52%	3,470,304	$458M	trimmed−1%	+0.43 pp	7 q
JECJacobs Engineering Group	3.94%	2,905,334	$400M	trimmed−1%	+0.45 pp	36 q
WWayfair Inc.	3.75%	3,440,017	$381M	added+9%	−1.37 pp	11 q
LBRDKLiberty Broadband Corporation Class C	3.55%	2,664,015	$360M	trimmed−2%	−0.18 pp	17 q
BRK.ABerkshire Hathaway Inc.	3.00%	576	$305M	trimmed−4%	+0.70 pp	36 q
BRK.BBERKSHIRE HATHAWAY Class B	1.75%	503,243	$178M	trimmed−2%	+0.44 pp	36 q
LBRDALiberty Broadband Corporation Class A	1.12%	865,750	$113M	added0%	−0.07 pp	17 q
LM05Liberty Media Corp-liberty-a	0.66%	1,061,534	$67M	added+2%	+0.13 pp	22 q
EXPDExpeditors International of Washington, Inc.	0.10%	102,132	$11M	held	—	36 q
BLDRBuilders FirstSource, Inc.	0.03%	48,238	$3M	trimmed−1%	−0.01 pp	24 q
AMZNAmazon.Com Inc	0.02%	657	$2M	trimmed−0%	0.00 pp	22 q
ASAIYSendas Distribudra S/	0.02%	98,082	$2M	added+2%	+0.01 pp	2 q
EQHEquitable Holdings, Inc.	0.01%	31,828	$984,000	added+3%	0.00 pp	6 q
MHKMohawk Industries, Inc.	0.01%	10,833	$1M	held	—	36 q
STLAStellantis N.V.	0.01%	40,407	$657,000	added+4%	0.00 pp	5 q
ANGIAngi Inc. Class A	0.00%	20,804	$118,000	added+31%	0.00 pp	9 q
BABAAlibaba Group Holding Limited	0.00%	2,360	$257,000	trimmed−31%	0.00 pp	5 q
DISThe Walt Disney Company	0.00%	1,988	$273,000	trimmed−100%	−3.71 pp	8 q
OPENOpendoor Technologies Inc	0.00%	22,200	$192,000	held	—	3 q
RMNIRimini Street, Inc. (DE)	0.00%	34,546	$200,000	added+24%	0.00 pp	3 q
SBGISinclair, Inc. Class A	0.00%	17,719	$496,000	held	—	9 q
VCTRVictory Capital Holdings, Inc. Class A	0.00%	7,179	$207,000	new	0.00 pp	new
PRIPrimerica, Inc.	—	−1,400	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000919574-22-003202
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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