MARSHFIELD ASSOCIATES

Q4 2025 13F Holdings Report, Stock Holdings

Signature - Title
Brian Walker - General Counsel and CCO
Location
Washington, DC
Holdings as of
31 Dec 2025
Value $
$5,704,794,334
Num holdings
17
Filing time
17 Feb 2026, 16:03:50 UTC
Form type
13F-HR
Description
All US holdings of this investor are reported in this report. Top holdings included AZO, PGR, UNH, ROST, and CMI.
Previous filing
Q3 2025 - 14 Nov 2025
SEC
View on sec.gov
Sym Weight Trade Impact Company Class Share Change Activity Value Change $ Value $ * Price $ Shares Principal
Filing 2025 Q4 compared to 2025 Q3 by default. Changes are calculated vs the previous SEC filing.
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.

Person Signing this Report on Behalf of Reporting Manager:

Name Title City, State Date
Brian Walker General Counsel and CCO Washington, District Of Columbia 17 Feb 2026