Ruane, Cunniff & Goldfarb

Q3 2022 13F

As of: Sep 30, 2022
Filed: Nov 14, 2022
US stock: $6.7B · prev $7.7B
Positions: 31 · prev 31
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%

Moves30 since the prior filing

+9.0 pp in · −9.1 pp out

New 2 +8.35 pp
Added 8 +0.68 pp
Trimmed 18 −4.37 pp
Exited 2 −4.68 pp

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 36% a year, about 2.8 years per position

Low
Moderate
High

Top 5 positions43% of US stock

UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) trimmed+0.92 pp trimmed+0.929.9%
SCHW The Charles Schwab Corporation trimmed+2.02 pp trimmed+2.029.3%
ICE Intercontinental Exchange Inc. trimmed+0.63 pp trimmed+0.638.6%
FWONK Liberty Media Corporation Series C Liberty Formula One trimmed+0.27 pp trimmed+0.278.1%
ELV Elevance Health, Inc. trimmed+0.29 pp trimmed+0.296.7%

Positions31 in this filing · 2 exited


UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	9.90%	1,320,091	$667M	trimmed−2%	+0.92 pp	12 q
SCHWThe Charles Schwab Corporation	9.31%	8,720,090	$627M	trimmed−2%	+2.02 pp	26 q
ICEIntercontinental Exchange Inc.	8.62%	6,422,256	$580M	trimmed−2%	+0.63 pp	9 q
FWONKLiberty Media Corporation Series C Liberty Formula One	8.07%	9,292,365	$544M	trimmed−1%	+0.27 pp	24 q
ELVElevance Health, Inc.	6.67%	987,857	$449M	trimmed−3%	+0.29 pp	7 q
KMXCarMax Inc.	6.34%	6,468,603	$427M	trimmed−4%	−1.57 pp	26 q
METAMeta Platforms, Inc. Class A	6.17%	3,059,770	$415M	added+10%	+0.35 pp	24 q
CACCCredit Acceptance Corp	5.35%	822,873	$360M	trimmed−2%	+0.18 pp	23 q
GOOGLAlphabet Inc. Class A	5.21%	3,668,670	$351M	added+1%	+0.05 pp	29 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	4.74%	4,651,030	$319M	trimmed−30%	−2.29 pp	12 q
JJacobs Solutions Inc.	4.48%	2,779,534	$302M	new	+4.48 pp	new
NFLXNetFlix Inc	4.29%	1,228,082	$289M	trimmed−40%	−0.39 pp	8 q
COFCapital One Financial	3.87%	2,826,955	$261M	new	+3.87 pp	new
MUMicron Technology, Inc.	3.66%	4,920,440	$247M	trimmed−34%	−1.73 pp	7 q
GOOGAlphabet Inc. Class C	3.26%	2,282,754	$219M	trimmed−17%	−0.64 pp	34 q
LBRDKLiberty Broadband Corporation Class C	2.65%	2,419,567	$179M	trimmed−6%	−1.24 pp	19 q
WWayfair Inc.	2.27%	4,685,292	$153M	trimmed−5%	−0.53 pp	13 q
BRK.BBERKSHIRE HATHAWAY Class B	2.07%	522,115	$139M	added+2%	+0.26 pp	38 q
BRK.ABerkshire Hathaway Inc.	1.20%	199	$81M	trimmed−8%	+0.04 pp	38 q
LBRDALiberty Broadband Corporation Class A	0.94%	849,073	$63M	trimmed−1%	−0.33 pp	19 q
LM05Liberty Media Corp-liberty-a	0.79%	1,007,980	$53M	trimmed−4%	0.00 pp	24 q
BLDRBuilders FirstSource, Inc.	0.04%	45,747	$3M	added+5%	+0.01 pp	26 q
AMZNAmazon.Com Inc	0.02%	13,140	$1M	held	—	24 q
ASAIYSendas Distribudra S/	0.02%	99,689	$2M	added+19%	+0.01 pp	4 q
EQHEquitable Holdings, Inc.	0.01%	33,972	$895,000	added+6%	0.00 pp	8 q
MHKMohawk Industries, Inc.	0.01%	10,833	$988,000	held	—	38 q
STLAStellantis N.V.	0.01%	51,276	$607,000	added+20%	0.00 pp	7 q
ANGIAngi Inc. Class A	0.00%	23,088	$68,000	added+9%	0.00 pp	11 q
OPENOpendoor Technologies Inc	0.00%	17,500	$54,000	trimmed−21%	0.00 pp	5 q
RMNIRimini Street, Inc. (DE)	0.00%	30,380	$142,000	trimmed−12%	0.00 pp	5 q
SBGISinclair, Inc. Class A	0.00%	17,719	$321,000	held	—	11 q
JECJacobs Engineering Group	—	−2,826,968	—	exited	−4.68 pp	—
BABAAlibaba Group Holding Limited	—	−2,360	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000919574-22-006611
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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