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Disclosery

UNDERHILL INVESTMENT MANAGEMENT LLC

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13F filer, CIK 1512545, GREENBRAE, CA

UNDERHILL INVESTMENT MANAGEMENT LLC reported $203,831,000 across 20 holdings for the quarter ended 2018-09-30, in a 13F-HR filed 2018-10-25. Its ten largest share positions make up 77.35% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001512545-18-000004

Period
2018-09-30
Reported value
$204M
Holdings
20
Top 10 weight
77.35%
New
3
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
DHInew+231,650$9.77M
CBS CORP NEWnew+112,225$6.45M
CENTURYLINK INCadded+32,550$690K
MAnew+900$200K
INTCadded+2,300$109K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FDXexited-50,555-$11.5M
FAFreduced-137,700-$7.1M
ROYAL DUTCH SHELL PLC SPN A…reduced-79,450-$5.41M
KEYSreduced-37,480-$2.48M
ELreduced-13,755-$2M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2018

Share positions as resolved from 13F-HR 0001512545-18-000004, largest first. % of portfolio is the value over $203,831,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ALAIR LEASE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 452,300 shares; 2017Q3: 433,950 shares; 2017Q4: 440,150 shares; 2018Q1: 456,825 shares; 2018Q2: 462,025 shares; 2018Q3: 461,875 shares 461,875$21.2M10.4%-150Timeline
IBKRINTERACTIVE BROKERS GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 298,800 shares; 2017Q3: 302,900 shares; 2017Q4: 303,100 shares; 2018Q1: 329,175 shares; 2018Q2: 331,375 shares; 2018Q3: 328,750 shares 328,750$18.2M8.92%-2,625Timeline
INTCINTEL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 424,400 shares; 2017Q3: 417,650 shares; 2017Q4: 418,350 shares; 2018Q1: 348,400 shares; 2018Q2: 350,150 shares; 2018Q3: 352,450 shares 352,450$16.7M8.18%+2,300Timeline
GILDGILEAD SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 205,800 shares; 2017Q3: 205,800 shares; 2017Q4: 204,700 shares; 2018Q1: 203,600 shares; 2018Q2: 205,450 shares; 2018Q3: 205,850 shares 205,850$15.9M7.8%+400Timeline
LIBERTY MEDIA CORP DELLIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: not reported; 2017Q3: not reported; 2017Q4: not reported; 2018Q1: 310,300 shares; 2018Q2: 426,000 shares; 2018Q3: 422,200 shares 422,200$15.7M7.7%-3,800
CMECME GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 71,250 shares; 2017Q3: 84,450 shares; 2017Q4: 84,150 shares; 2018Q1: 86,550 shares; 2018Q2: 88,300 shares; 2018Q3: 88,500 shares 88,500$15.1M7.39%+200Timeline
GGGGRACO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 104,000 shares; 2017Q3: 103,500 shares; 2017Q4: 310,200 shares; 2018Q1: 310,200 shares; 2018Q2: 310,200 shares; 2018Q3: 310,200 shares 310,200$14.4M7.05%0Timeline
BF-BBROWN FORMAN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 222,900 shares; 2017Q3: 221,670 shares; 2017Q4: 218,470 shares; 2018Q1: 272,335 shares; 2018Q2: 272,335 shares; 2018Q3: 272,335 shares 272,335$13.8M6.75%0Timeline
KEYSKEYSIGHT TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: not reported; 2017Q3: 141,750 shares; 2017Q4: 149,875 shares; 2018Q1: 244,218 shares; 2018Q2: 243,818 shares; 2018Q3: 206,338 shares 206,338$13.7M6.71%-37,480Timeline
ELLAUDER ESTEE COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 109,650 shares; 2017Q3: 109,050 shares; 2017Q4: 108,850 shares; 2018Q1: 108,050 shares; 2018Q2: 104,150 shares; 2018Q3: 90,395 shares 90,395$13.1M6.44%-13,755Timeline
DHID R HORTON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 288,650 shares; 2017Q3: 241,900 shares; 2017Q4: 200,350 shares; 2018Q1: not reported; 2018Q2: not reported; 2018Q3: 231,650 shares 231,650$9.77M4.79%newTimeline
CENTURYLINK INCCENTURYLINK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: not reported; 2017Q3: not reported; 2017Q4: not reported; 2018Q1: not reported; 2018Q2: 400,375 shares; 2018Q3: 432,925 shares 432,925$9.18M4.5%+32,550
CBS CORP NEWCBS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: not reported; 2017Q3: not reported; 2017Q4: not reported; 2018Q1: not reported; 2018Q2: not reported; 2018Q3: 112,225 shares 112,225$6.45M3.16%new
FAFFIRST AMERN FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 325,150 shares; 2017Q3: 308,650 shares; 2017Q4: 284,150 shares; 2018Q1: 260,775 shares; 2018Q2: 260,775 shares; 2018Q3: 123,075 shares 123,075$6.35M3.11%-137,700Timeline
ROYAL DUTCH SHELL PLC SPN A…ROYAL DUTCH SHELL PLC SPN ADRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 109,200 shares; 2017Q3: 159,775 shares; 2017Q4: 155,925 shares; 2018Q1: 161,000 shares; 2018Q2: 161,000 shares; 2018Q3: 81,550 shares 81,550$5.56M2.73%-79,450
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 12 shares; 2017Q3: 12 shares; 2017Q4: 12 shares; 2018Q1: 12 shares; 2018Q2: 12 shares; 2018Q3: 12 shares 12$3.84M1.88%0Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: not reported; 2017Q3: not reported; 2017Q4: 18,975 shares; 2018Q1: 16,025 shares; 2018Q2: 16,025 shares; 2018Q3: 16,525 shares 16,525$3.23M1.58%+500Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 5,727 shares; 2017Q3: 5,727 shares; 2017Q4: 5,078 shares; 2018Q1: 5,709 shares; 2018Q2: 5,709 shares; 2018Q3: 5,709 shares 5,709$857K0.42%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: 743 shares; 2017Q3: 743 shares; 2017Q4: 578 shares; 2018Q1: 620 shares; 2018Q2: 620 shares; 2018Q3: 620 shares 620$748K0.37%0Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2016Q4: restricted; 2017Q1: restricted; 2017Q2: not reported; 2017Q3: not reported; 2017Q4: not reported; 2018Q1: not reported; 2018Q2: not reported; 2018Q3: 900 shares 900$200K0.1%newTimeline

Sold out in Q3 2018

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FDXFEDEX CORP50,555$11.5Mshares
THOTHOR INDS INC4,800$467Kshares
TECHBIO-TECHNE CORP1,900$281Kshares

How Q3 2018 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001512545-18-000004 base2018-10-25acceptance time not in the bulk data set