Ruane, Cunniff & Goldfarb

Q2 2023 13F

As of: Jun 30, 2023
Filed: Aug 11, 2023
US stock: $6.3B · prev $6.1B
Positions: 34 · 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

+6.3 pp in · −6.3 pp out

New 3 +0.01 pp
Added 8 +6.24 pp
Trimmed 19 −6.29 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 15 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 23% a year, about 4.4 years per position

Low
Moderate
High

Top 5 positions44% of US stock

ICE Intercontinental Exchange Inc. trimmed+0.27 pp trimmed+0.2710.6%
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) added+0.04 pp added+0.048.6%
FWONK Liberty Media Corporation Series C Liberty Formula One trimmed−0.38 pp trimmed−0.388.4%
SCHW The Charles Schwab Corporation added+0.95 pp added+0.958.0%
KMX CarMax Inc. trimmed+1.52 pp trimmed+1.528.0%

Positions34 in this filing · 0 exited


ICEIntercontinental Exchange Inc.	10.60%	5,944,272	$672M	trimmed−2%	+0.27 pp	12 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	8.56%	1,128,630	$542M	added+2%	+0.04 pp	15 q
FWONKLiberty Media Corporation Series C Liberty Formula One	8.42%	7,093,216	$534M	trimmed−1%	−0.38 pp	27 q
SCHWThe Charles Schwab Corporation	8.00%	8,948,669	$507M	added+9%	+0.95 pp	29 q
KMXCarMax Inc.	7.96%	6,030,220	$505M	trimmed−2%	+1.52 pp	29 q
ELVElevance Health, Inc.	7.35%	1,048,648	$466M	added+30%	+1.29 pp	10 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	6.88%	4,323,936	$436M	trimmed−2%	+0.19 pp	15 q
CACCCredit Acceptance Corp	6.32%	788,445	$400M	added+1%	+0.75 pp	26 q
GOOGLAlphabet Inc. Class A	6.16%	3,262,832	$391M	trimmed−8%	+0.14 pp	32 q
COFCapital One Financial	5.87%	3,403,537	$372M	added+26%	+1.64 pp	4 q
JJacobs Solutions Inc.	5.54%	2,954,118	$351M	added+12%	+0.47 pp	4 q
METAMeta Platforms, Inc. Class A	4.18%	923,707	$265M	trimmed−28%	−0.24 pp	27 q
LBRDKLiberty Broadband Corporation Class C	4.15%	3,286,361	$263M	added+44%	+1.10 pp	22 q
GOOGAlphabet Inc. Class C	3.75%	1,965,751	$238M	trimmed−4%	+0.28 pp	37 q
BRK.BBERKSHIRE HATHAWAY Class B	2.64%	490,679	$167M	trimmed−0%	+0.16 pp	41 q
BRK.ABerkshire Hathaway Inc.	1.42%	174	$90M	trimmed−4%	+0.04 pp	41 q
LBRDALiberty Broadband Corporation Class A	1.02%	812,705	$65M	trimmed−1%	−0.08 pp	22 q
LM05Liberty Media Corp-liberty-a	0.98%	920,464	$62M	trimmed−2%	−0.05 pp	27 q
ASAIYSendas Distribudra S/	0.03%	139,327	$2M	trimmed−1%	−0.01 pp	7 q
EQHEquitable Holdings, Inc.	0.02%	41,057	$1M	trimmed−0%	0.00 pp	11 q
MHKMohawk Industries, Inc.	0.02%	10,790	$1M	held	—	41 q
STLAStellantis N.V.	0.02%	55,722	$977,364	trimmed−10%	0.00 pp	10 q
AMZNAmazon.Com Inc	0.01%	6,020	$784,767	trimmed−55%	−0.01 pp	27 q
BLDRBuilders FirstSource, Inc.	0.01%	5,800	$788,800	trimmed−88%	−0.06 pp	29 q
GPIGroup 1 Automotive, Inc.	0.01%	2,619	$675,964	new	+0.01 pp	new
ISCViShares Morningstar Small-Cap Value ETF	0.01%	6,380	$344,648	held	—	2 q
LADLithia Motors, Inc.	0.01%	2,374	$721,957	added+10%	0.00 pp	3 q
MUMicron Technology, Inc.	0.01%	6,981	$440,571	trimmed−100%	−4.59 pp	10 q
NFLXNetFlix Inc	0.01%	1,942	$855,432	trimmed−100%	−3.47 pp	11 q
MSFTMicrosoft Corp	0.00%	692	$235,654	new	0.00 pp	new
RMNIRimini Street, Inc. (DE)	0.00%	24,073	$115,310	trimmed−3%	0.00 pp	8 q
SPGIS&P Global Inc.	0.00%	531	$212,873	new	0.00 pp	new
SBGISinclair, Inc. Class A	0.00%	17,959	$248,193	held	—	14 q
ATAIAtaiBeckley Inc.	0.00%	42,112	$72,433	held	—	2 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000919574-23-004553
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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