WhaleCreep

Ruane, Cunniff & Goldfarb (Sequoia Fund) 13F holdings, Q4 2017

Long-only investorSEC filingsCompare with another fundHoldings as of 2017-12-31, filed 2018-02-14

Ruane, Cunniff & Goldfarb (Sequoia Fund) disclosed 66 US equity positions worth $12.2bn in its Q4 2017 13F filing. Its largest position is BRK/A at 9.0% of the reported book, followed by AMZN and GOOGL. Versus Q3 2017 it opened 4 new positions, added to 8, reduced 29 and exited 7.

$12.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
66
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
9.0%
Largest position
The largest single position as a share of the reported equity book.
56.6%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
22
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
110
Quarters on file since Q1 1999
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2017: 4 new, 8 added, 29 reduced, 7 exited

50 of 66
BRK/A BERKSHIRE HATHAWAY INC DEL–9.0%$1.1bn3,681−3.9%reduced
AMZN AMAZON COM INCConsumer Cyclical7.5%$917m783,747+94%added
GOOGL ALPHABET INCCommunication Services7.3%$886m841,250+29%added
GOOG ALPHABET INCCommunication Services7.1%$861m822,793−0.7%reduced
MA MASTERCARD INCFinancial Services5.0%$605m4.00m−1.3%reduced
XRAY DENTSPLY SIRONA INCHealthcare4.8%$583m8.85m−0.4%held
TJX TJX COS INC NEWConsumer Cyclical4.7%$580m7.58m−0.9%reduced
LIBERTY MEDIA CORP DEL no ticker–4.1%$502m14.71m−0.1%held
FIAT CHRYSLER AUTOMOBILES N no ticker–3.7%$447m25.06m0.0%held
SCHW SCHWAB CHARLES CORPFinancial Services3.5%$427m8.31m−0.5%held
KMX CARMAX INCConsumer Cyclical3.5%$425m6.63m−31%reduced
BRK/B BERKSHIRE HATHAWAY INC DEL–3.3%$403m2.03m−2.7%reduced
WFC WELLS FARGO & COFinancial Services3.3%$402m6.63m−0.6%reduced
MHK MOHAWK INDS INCConsumer Cyclical3.1%$378m1.37m−0.6%reduced
JECUSD JACOBS ENGR GROUP INC–3.1%$374m5.67m−0.4%held
CACC CREDIT ACCEP CORP MICHFinancial Services2.8%$346m1.07m−0.3%held
V VISA INCFinancial Services2.7%$329m2.89m−0.2%held
PRICELINE GRP INC no ticker–2.5%$302m173,894−0.4%held
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical2.4%$292m1.21m−8.7%reduced
OMC OMNICOM GROUP INCCommunication Services2.3%$278m3.82m−0.6%reduced
JD JD.COM INCConsumer Cyclical2.2%$274m6.62m+66%added
WAT WATERS CORPHealthcare1.8%$219m1.14m−0.5%reduced
COF CAPITAL ONE FINL CORPFinancial Services1.3%$159m1.60m0.0%held
GS GOLDMAN SACHS GROUP INCFinancial Services1.1%$135m530,183−6.9%reduced
PRI PRIMERICA INCFinancial Services0.8%$102m1.01m−50%reduced
BMCH BMC STK HLDGS INC–0.8%$99.0m3.91m+51%added
IACIEUR IAC INTERACTIVECORP–0.8%$98.1m801,930−33%reduced
W WAYFAIR INCConsumer Cyclical0.8%$93.3m1.16m+826%added
BLDR BUILDERS FIRSTSOURCE INCIndustrials0.7%$89.5m4.11m−24%reduced
WUBAUSD 58 COM INC–0.7%$80.2m1.12m−31%reduced
IBKR INTERACTIVE BROKERS GROUP INFinancial Services0.5%$59.4m1.00m−41%reduced
META META PLATFORMS INCCommunication Services0.4%$53.8m304,6240.0%held
2362120D SINCLAIR BROADCAST GROUP INC–0.4%$51.7m1.36m–new
CMG CHIPOTLE MEXICAN GRILL INCConsumer Cyclical0.3%$41.8m144,656−5.4%reduced
JPMORGAN CHASE & CO no ticker–0.3%$39.9m600,0000.0%held
SPSC SPS COMMERCE INCTechnology0.3%$38.7m795,536+3.9%added
CARS CARS COM INCCommunication Services0.1%$17.6m610,078−0.2%held
IRSUSD IRSA INVERSIONES Y REP S A–0.1%$16.9m571,0000.0%held
MTH MERITAGE HOMES CORPConsumer Cyclical0.1%$16.1m315,0000.0%held
CRESY CRESUD S A C I F Y AIndustrials0.1%$13.6m616,8830.0%held
ETSY ETSY INCConsumer Cyclical0.10%$12.1m590,0000.0%held
NETSHOES CAYMAN LTD no ticker–0.09%$11.2m1.41m–new
DHI D R HORTON INCConsumer Cyclical0.06%$7.2m140,000−69%reduced
EXPD EXPEDITORS INTL WASH INCIndustrials0.06%$7.1m109,3410.0%held
LIBERTY MEDIA CORP DELAWARE no ticker–0.03%$4.0m120,742−2.0%reduced
COST COSTCO WHOLESALE CORPORATIONConsumer Defensive0.03%$3.9m21,150−0.2%held
UNP UNION PACIFIC CORPIndustrials0.03%$3.2m23,520−14%reduced
PG PROCTER & GAMBLE COConsumer Defensive0.02%$2.8m30,646−4.7%reduced
WST WEST PHARMACEUTICAL SVSC INCHealthcare0.02%$2.5m25,713−38%reduced
EME EMCOR GROUP INCIndustrials0.02%$2.3m27,994−98%reduced

Exited since Q3 2017

7 rows
BIDU BAIDU INC0.7%$75.0m
TRUP TRUPANION INC0.4%$47.4m
TOL TOLL BROTHERS INC0.10%$11.2m
CABO CABLE ONE INC0.06%$7.2m
GHC GRAHAM HLDGS CO0.05%$5.9m
THIRD PT REINS LTD no ticker0.05%$5.7m
SIG SIGNET JEWELERS LIMITED0.04%$4.3m

Sector mix

  • Unclassified28.9%
  • Consumer Cyclical24.9%
  • Financial Services21.1%
  • Communication Services17.2%
  • Healthcare6.6%
  • Industrials1.0%
  • Technology0.3%
  • Consumer Defensive0.07%
  • Utilities0.03%

Book over time

Every quarter on file (110)
QuarterPositionsEquity book
Q2 202654$6.4bn
Q1 202650$6.0bn
Q4 202548$6.4bn
Q3 202547$6.0bn
Q2 202543$5.8bn
Q1 202538$5.5bn
Q4 202439$5.9bn
Q3 202437$6.4bn
Q2 202437$6.4bn
Q1 202434$6.4bn
Q4 202333$6.3bn
Q3 202336$6.0bn
Q2 202334$6.3bn
Q1 202331$6.1bn
Q4 202232$6.4bn
Q3 202231$6.7bn
Q2 202231$7.7bn
Q1 202234$10.2bn
Q4 202134$11.7bn
Q3 202133$11.1bn
Q2 202135$11.3bn
Q1 202137$10.6bn
Q4 202038$9.4bn
Q3 202035$8.4bn
Q2 202037$7.5bn
Q1 202038$6.2bn
Q4 201939$8.1bn
Q3 201940$7.6bn
Q2 201937$7.4bn
Q1 201951$9.8bn
Q4 201857$9.1bn
Q3 201861$10.9bn
Q2 201861$11.2bn
Q1 201859$10.9bn
Q4 201766$12.2bn
Q3 201769$11.4bn
Q2 201770$10.8bn
Q1 201788$10.6bn
Q4 201692$10.6bn
Q3 2016100$10.7bn
Q2 2016117$10.5bn
Q1 2016133$12.9bn
Q4 2015142$17.6bn
Q3 2015149$19.5bn
Q2 2015149$21.0bn
Q1 2015155$21.1bn
Q4 2014155$19.6bn
Q3 2014160$18.9bn
Q2 2014149$18.7bn
Q1 2014143$18.7bn
Q4 2013142$18.0bn
Q3 2013145$16.8bn
Q2 2013146$15.5bn
Q1 2013108$9.8bn
Q4 2012110$8.8bn
Q3 2012111$8.7bn
Q2 201298$8.3bn
Q1 2012102$8.4bn
Q4 2011104$7.5bn
Q3 201197$6.5bn
Q2 2011108$7.1bn
Q1 2011113$6.7bn
Q4 2010116$6.5bn
Q3 2010119$6.4bn
Q2 2010116$6.8bn
Q1 2010123$6.9bn
Q4 2009117$7.1bn
Q3 2009109$6.9bn
Q2 2009117$6.3bn
Q1 2009127$5.9bn
Q4 2008135$6.4bn
Q3 2008153$8.5bn
Q2 2008171$9.4bn
Q1 2008168$10.4bn
Q4 2007165$11.5bn
Q3 2007168$11.8bn
Q2 2007175$11.3bn
Q1 2007173$11.4bn
Q4 2006174$12.1bn
Q3 2006176$12.3bn
Q2 2006177$12.4bn
Q1 2006185$13.3bn
Q4 2005179$13.2bn
Q3 2005182$12.3bn
Q2 2005179$12.2bn
Q1 2005179$12.3bn
Q4 2004173$12.6bn
Q3 2004161$12.4bn
Q2 2004156$12.7bn
Q1 2004153$12.6bn
Q4 2003147$12.0bn
Q3 2003135$10.5bn
Q2 2003143$10.1bn
Q1 2003147$9.0bn
Q4 2002153$9.6bn
Q3 2002155$9.3bn
Q2 2002155$8.8bn
Q1 2002150$9.0bn
Q4 2001162$9.0bn
Q3 2001149$8.2bn
Q2 2001156$8.3bn
Q1 2001171$4.9bn
Q4 2000170$5.1bn
Q3 2000188$4.7bn
Q2 2000177$4.1bn
Q1 2000184$4.6bn
Q4 1999182$5.0bn
Q3 1999183$4.7bn
Q2 1999191$5.4bn
Q1 1999188$9.2bn

Where Ruane, Cunniff & Goldfarb (Sequoia Fund) was early

45 rows
MLM Martin Marietta Materials IncQ3 19996 of 1840.01%9.0%12Exited by Q2 2010+109%
DHR DANAHER CORP DELQ4 19993 of 2350.01%1.5%71Exited by Q3 2017+823%
ETD Ethan Allen Interiors IncQ2 20001 of 661.9%2.7%21Exited by Q3 2005+40%
ITW Illinois Tool WorksQ3 20001 of 1210.9%1.7%32Exited by Q1 2015+239%
TJX TJX COS INC NEWQ3 20002 of 1852.6%16.8%78Exited by Q1 2020+2071%
FAST FASTENAL COQ1 20011 of 1422.3%13.1%72Exited by Q1 2019+668%
MHK MOHAWK INDS INCQ2 20011 of 1730.08%11.2%93Exited by Q3 2024+223%
CACC CREDIT ACCEP CORP MICHQ2 20017 of 1020.02%7.1%62Held at last filing, Q2 2026+8169%
IDXX IDEXX LABS INCQ3 20032 of 1470.3%10.7%65Exited by Q4 2019+2456%
KMX CARMAX INCQ1 20047 of 1680.3%11.6%50Exited by Q4 2025+207%
AZO Autozone IncQ2 20043 of 1651.1%1.1%6Exited by Q4 2010+186%
BDX Becton Dickinson & Co.Q1 20052 of 1680.0%1.9%21Exited by Q3 2014+102%
PCAR Paccar IncQ4 20051 of 1240.02%1.9%19Exited by Q3 2010+30%
COF CAPITAL ONE FINL CORPQ1 200619 of 2270.1%7.8%31Held at last filing, Q2 2026+149%
LOW Lowe's Companies Inc.Q2 20063 of 2090.2%1.7%35Exited by Q2 2016+150%
WRB WR Berkley CorpQ1 20073 of 1160.0%1.5%19Exited by Q4 2011−10%
CAT CATERPILLAR INC DELQ2 20074 of 1870.04%1.8%40Exited by Q2 2017+18%
V VISA INCQ1 20085 of 2841.8%3.4%53Exited by Q2 2021+1258%
CMI Cummins Engine IncQ3 20083 of 1551.3%1.8%3Exited by Q2 2009−42%
OMC OMNICOM GROUP INCQ1 20092 of 1311.2%3.0%39Exited by Q4 2018+191%
PXGBX PRAXAIR INCQ3 20093 of 681.3%2.7%30Exited by Q1 2017+43%
BRK/B BERKSHIRE HATHAWAY INC DELQ4 20092 of 1802.5%6.3%67Held at last filing, Q2 2026+661%
TRMB TRIMBLE INCQ1 20102 of 1440.1%1.2%35Exited by Q4 2018+203%
WAT WATERS CORPQ1 20105 of 1370.0%3.0%34Exited by Q4 2018+188%
FSLR First Solar IncQ1 20106 of 2140.03%1.8%13Exited by Q2 2013−78%
PRI PRIMERICA INCQ2 20101 of 1021.2%2.1%38Exited by Q1 2022+615%
PRGO PERRIGO CO PLCQ3 20102 of 1721.7%2.6%27Exited by Q2 2017+3.4%
WKC World Fuel Services CorpQ4 20101 of 850.5%3.1%17Exited by Q1 2015+30%
GLW CorningQ2 20118 of 1961.6%1.6%8Exited by Q2 2013−27%
ORLY O REILLY AUTOMOTIVE INC NEWQ2 20135 of 1622.7%6.1%23Exited by Q1 2019+206%
RRC Range Resources CorpQ2 20135 of 1471.5%1.7%13Exited by Q3 2016−44%
AAP Advance Auto PartsQ2 20137 of 1793.3%3.3%7Exited by Q1 2015+96%
GS GOLDMAN SACHS GROUP INCQ2 201314 of 2291.4%1.6%23Exited by Q3 2024+199%
MA MASTERCARD INCORPORATEDQ2 201323 of 2632.0%7.2%32Exited by Q2 2021+520%
GOOGL ALPHABET INCQ3 20151 of 3751.8%11.1%44Held at last filing, Q2 2026+1020%
GOOG ALPHABET INCQ3 20152 of 3501.8%12.0%44Held at last filing, Q2 2026+1061%
XRAY DENTSPLY SIRONA INCQ1 20162 of 1502.3%5.3%13Exited by Q3 2019−5.3%
BLDR BUILDERS FIRSTSOURCE INCQ2 20169 of 2080.4%1.2%36Exited by Q2 2025+1011%
W WAYFAIR INCQ2 201620 of 2410.05%8.1%23Exited by Q4 2022−17%
BKNG BOOKING HLDGS INCQ1 201820 of 3133.3%4.5%9Exited by Q2 2020−35%
ANET ARISTA NETWORKS INCQ2 201911 of 2260.01%6.5%9Exited by Q3 2021+40%
TSM TAIWAN SEMICONDUCTOR MANUFACQ4 201924 of 3292.1%8.7%27Held at last filing, Q2 2026+722%
J JACOBS SOLUTIONS INCQ3 20222 of 1164.5%6.5%16Held at last filing, Q2 2026+40%
LLYVK LIBERTY MEDIA CORP DELQ3 20236 of 1707.1%10.1%12Held at last filing, Q2 2026+53%
AMTM AMENTUM HOLDINGS INCQ3 20241 of 1041.3%1.3%8Held at last filing, Q2 2026−36%

Concentration and tenure

19.9%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
74.9%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
6
Median completed holding, quarters