Ruane, Cunniff & Goldfarb

Q1 2023 13F

As of: Mar 31, 2023
Filed: May 12, 2023
US stock: $6.1B · prev $6.4B
Positions: 31 · prev 32
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

+0.1 pp in · −0.1 pp out

New 2 +0.01 pp
Added 7 +0.05 pp
Trimmed 22 −0.05 pp
Exited 3 −0.01 pp

The book

Concentrated · behaves like 16 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.1% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions41% of US stock

ICE Intercontinental Exchange Inc. trimmed+0.37 pp trimmed+0.3710.3%
FWONK Liberty Media Corporation Series C Liberty Formula One trimmed+0.60 pp trimmed+0.608.8%
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) trimmed−0.84 pp trimmed−0.848.5%
SCHW The Charles Schwab Corporation trimmed−3.93 pp trimmed−3.937.0%
TSM Taiwan Semiconductor Manufacturing Company Ltd. trimmed+1.45 pp trimmed+1.456.7%

Positions31 in this filing · 3 exited


ICEIntercontinental Exchange Inc.	10.33%	6,059,276	$632M	trimmed−2%	+0.37 pp	11 q
FWONKLiberty Media Corporation Series C Liberty Formula One	8.80%	7,198,040	$539M	trimmed−18%	+0.60 pp	26 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	8.52%	1,102,819	$521M	trimmed−2%	−0.84 pp	14 q
SCHWThe Charles Schwab Corporation	7.05%	8,239,678	$432M	trimmed−2%	−3.93 pp	28 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	6.69%	4,400,820	$409M	trimmed−2%	+1.45 pp	14 q
KMXCarMax Inc.	6.44%	6,133,144	$394M	trimmed−2%	+0.47 pp	28 q
ELVElevance Health, Inc.	6.06%	807,124	$371M	trimmed−2%	−0.56 pp	9 q
GOOGLAlphabet Inc. Class A	6.02%	3,549,653	$368M	trimmed−1%	+1.08 pp	31 q
CACCCredit Acceptance Corp	5.57%	781,492	$341M	trimmed−2%	−0.35 pp	25 q
JJacobs Solutions Inc.	5.07%	2,640,784	$310M	trimmed−2%	+0.01 pp	3 q
MUMicron Technology, Inc.	4.60%	4,664,011	$281M	trimmed−2%	+0.88 pp	9 q
METAMeta Platforms, Inc. Class A	4.42%	1,275,689	$270M	trimmed−57%	−1.15 pp	26 q
COFCapital One Financial	4.23%	2,693,378	$259M	trimmed−2%	+0.24 pp	3 q
NFLXNetFlix Inc	3.48%	616,494	$213M	trimmed−2%	+0.58 pp	10 q
GOOGAlphabet Inc. Class C	3.47%	2,039,908	$212M	trimmed−5%	+0.49 pp	36 q
LBRDKLiberty Broadband Corporation Class C	3.05%	2,286,475	$187M	trimmed−2%	+0.27 pp	21 q
BRK.BBERKSHIRE HATHAWAY Class B	2.48%	491,015	$152M	trimmed−4%	+0.02 pp	40 q
BRK.ABerkshire Hathaway Inc.	1.38%	182	$85M	trimmed−3%	0.00 pp	40 q
LBRDALiberty Broadband Corporation Class A	1.10%	821,578	$67M	trimmed−2%	+0.11 pp	21 q
LM05Liberty Media Corp-liberty-a	1.03%	937,917	$63M	trimmed−5%	+0.21 pp	26 q
BLDRBuilders FirstSource, Inc.	0.07%	49,975	$4M	added+11%	+0.02 pp	28 q
ASAIYSendas Distribudra S/	0.04%	140,697	$2M	added+39%	+0.01 pp	6 q
AMZNAmazon.Com Inc	0.02%	13,320	$1M	added+1%	0.00 pp	26 q
EQHEquitable Holdings, Inc.	0.02%	41,196	$1M	added+21%	0.00 pp	10 q
MHKMohawk Industries, Inc.	0.02%	10,790	$1M	trimmed−0%	0.00 pp	40 q
STLAStellantis N.V.	0.02%	61,670	$1M	added+13%	+0.01 pp	9 q
ISCViShares Morningstar Small-Cap Value ETF	0.01%	6,380	$332,826	new	+0.01 pp	new
LADLithia Motors, Inc.	0.01%	2,158	$494,031	added+5%	0.00 pp	2 q
SBGISinclair, Inc. Class A	0.01%	17,959	$308,176	added+1%	+0.01 pp	13 q
RMNIRimini Street, Inc. (DE)	0.00%	24,933	$102,724	trimmed−18%	0.00 pp	7 q
ATAIAtaiBeckley Inc.	0.00%	42,112	$76,223	new	0.00 pp	new
IVViShares Core S&P 500 ETF	—	−2,460	—	exited	−0.01 pp	—
ANGIAngi Inc. Class A	—	−32,383	—	exited	0.00 pp	—
OPENOpendoor Technologies Inc	—	−17,500	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000919574-23-003116
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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