WhaleCreep

Ruane, Cunniff & Goldfarb (Sequoia Fund) 13F holdings, Q2 2018

Long-only investorSEC filingsCompare with another fundHoldings as of 2018-06-30, filed 2018-08-14

Ruane, Cunniff & Goldfarb (Sequoia Fund) disclosed 61 US equity positions worth $11.2bn in its Q2 2018 13F filing. Its largest position is GOOG at 8.5% of the reported book, followed by GOOGL and KMX. Versus Q1 2018 it opened 7 new positions, added to 16, reduced 21 and exited 5.

$11.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
61
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.5%
Largest position
The largest single position as a share of the reported equity book.
62.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
19
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 Q1 2018: 7 new, 16 added, 21 reduced, 5 exited

50 of 61
GOOG ALPHABET INCCommunication Services8.5%$954m854,844−3.8%reduced
GOOGL ALPHABET INCCommunication Services8.4%$938m830,485−7.4%reduced
KMX CARMAX INCConsumer Cyclical7.8%$871m11.95m0.0%held
BRK/A BERKSHIRE HATHAWAY INC DEL–7.4%$828m2,936−13%reduced
AMZN AMAZON COM INCConsumer Cyclical7.4%$821m482,899−29%reduced
TJX TJX COS INC NEWConsumer Cyclical5.0%$557m5.85m−0.8%reduced
LIBERTY MEDIA CORP DEL no ticker–5.0%$557m15.00m+0.6%added
MA MASTERCARD INCFinancial Services5.0%$556m2.83m−2.7%reduced
META META PLATFORMS INCCommunication Services4.3%$476m2.45m+12%added
FIAT CHRYSLER AUTOMOBILES N no ticker–4.2%$464m24.54m−0.1%held
SCHW SCHWAB CHARLES CORPFinancial Services3.8%$422m8.27m−0.6%reduced
JECUSD JACOBS ENGR GROUP INC–3.7%$412m6.48m+19%added
CACC CREDIT ACCEP CORP MICHFinancial Services3.5%$389m1.10m+1.4%added
BKNG BOOKING HOLDINGS INCConsumer Cyclical3.2%$353m173,990−0.5%held
MHK MOHAWK INDS INCConsumer Cyclical2.7%$296m1.38m−0.1%held
AABAUSD ALTABA INC–2.6%$293m4.00m+33%added
V VISA INCFinancial Services2.5%$274m2.07m+0.7%added
BRK/B BERKSHIRE HATHAWAY INC DEL–2.4%$271m1.45m+11%added
8L8C LIBERTY BROADBAND CORP–2.4%$266m3.52m+28%added
JD JD.COM INCConsumer Cyclical2.1%$235m6.03m−9.5%reduced
WFC WELLS FARGO & COFinancial Services2.1%$234m4.21m−0.7%reduced
BLDR BUILDERS FIRSTSOURCE INCIndustrials0.9%$103m5.61m+40%added
LBRDAEUR LIBERTY BROADBAND CORP–0.8%$86.4m1.14m+0.4%held
BMCH BMC STK HLDGS INC–0.7%$83.4m4.00m0.0%held
GTT1USD GTT COMMUNICATIONS INC–0.7%$77.0m1.81m–new
2362120D SINCLAIR BROADCAST GROUP INC–0.6%$64.3m2.00m+47%added
BIDU BAIDU INCCommunication Services0.4%$48.6m200,000–new
JPMORGAN CHASE & CO no ticker–0.3%$38.1m600,0000.0%held
RH RHConsumer Cyclical0.3%$27.9m200,000–new
NBIS NEBIUS GROUP N.V.Communication Services0.2%$21.4m595,000–new
DHI D R HORTON INCConsumer Cyclical0.2%$20.5m500,000–new
IQ IQIYI INCCommunication Services0.2%$20.3m630,000–new
MTH MERITAGE HOMES CORPConsumer Cyclical0.2%$19.4m442,000+20%added
LIBERTY MEDIA CORP DELAWARE no ticker–0.1%$12.6m355,975−0.4%held
SPSC SPS COMMERCE INCTechnology0.1%$12.1m165,000−44%reduced
CRESY CRESUD S A C I F Y AIndustrials0.08%$9.1m616,8830.0%held
EXPD EXPEDITORS INTL WASH INCIndustrials0.07%$8.0m109,2670.0%held
IRSUSD IRSA INVERSIONES Y REP S A–0.06%$6.4m370,085−38%reduced
NETSHOES CAYMAN LTD no ticker–0.05%$5.6m2.35m+40%added
COST COSTCO WHOLESALE CORPORATIONConsumer Defensive0.04%$4.3m20,709−0.5%held
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical0.03%$3.6m13,051−6.8%reduced
IRSA PROPIEDADES COMERCIALES no ticker–0.03%$3.3m105,000+5.0%added
WST WEST PHARMACEUTICAL SVSC INCHealthcare0.02%$2.3m23,200−5.4%reduced
UNP UNION PACIFIC CORPIndustrials0.02%$1.9m13,7200.0%held
EIX EDISON INTLUtilities0.02%$1.9m30,1650.0%held
WAT WATERS CORPHealthcare0.02%$1.8m9,316−11%reduced
KO COCA COLA COConsumer Defensive0.01%$1.6m37,6300.0%held
GS GOLDMAN SACHS GROUP INCFinancial Services0.01%$1.4m6,421−9.0%reduced
PG PROCTER & GAMBLE COConsumer Defensive0.01%$1.4m17,7600.0%held
AXP AMERICAN EXPRESS COFinancial Services0.01%$1.3m13,751+1.9%added

Exited since Q1 2018

5 rows
COF CAPITAL ONE FINL CORP1.4%$151m
WUBAUSD 58 COM INC0.7%$74.8m
W WAYFAIR INC0.5%$54.1m
HDB HDFC BANK LTD0.01%$820k
BABA ALIBABA GROUP HLDG LTD0.0%$215k

Sector mix

  • Unclassified31.1%
  • Consumer Cyclical28.7%
  • Communication Services22.0%
  • Financial Services16.8%
  • Industrials1.1%
  • Technology0.1%
  • Consumer Defensive0.07%
  • Healthcare0.05%
  • 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