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MARSHFIELD ASSOCIATES

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13F filer, CIK 914976, Washington, DC

MARSHFIELD ASSOCIATES reported $4,264,844,791 across 17 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-14. Its ten largest share positions make up 79.69% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-003813

Period
2026-06-30
Reported value
$4.26B
Holdings
17
Top 10 weight
79.69%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NKEnew+4,343,816$178M
ACGLadded+279,714$27.1M

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
ROSTreduced-1,223,102-$260M
CMIexited-448,781-$241M
UNHreduced-364,532-$152M
AZOreduced-28,660-$91.6M
Vreduced-220,540-$75.7M

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, Q2 2026

Share positions as resolved from 13F-HR 0001172661-26-003813, largest first. % of portfolio is the value over $4,264,844,791, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,018,288 shares; 2025Q3: 1,613,248 shares; 2025Q4: 1,658,487 shares; 2026Q1: 1,890,689 shares; 2026Q2: 1,526,157 shares 1,526,157$634M14.87%-364,532Timeline
PGRPROGRESSIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 870,221 shares; 2024Q4: 873,246 shares; 2025Q1: 937,242 shares; 2025Q2: 923,690 shares; 2025Q3: 1,577,453 shares; 2025Q4: 2,525,734 shares; 2026Q1: 2,455,384 shares; 2026Q2: 2,153,186 shares 2,153,186$470M11.03%-302,198Timeline
AZOAUTOZONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 169,586 shares; 2024Q4: 170,280 shares; 2025Q1: 169,809 shares; 2025Q2: 167,039 shares; 2025Q3: 172,332 shares; 2025Q4: 174,918 shares; 2026Q1: 165,033 shares; 2026Q2: 136,373 shares 136,373$436M10.22%-28,660Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 931,533 shares; 2024Q4: 933,781 shares; 2025Q1: 940,571 shares; 2025Q2: 947,177 shares; 2025Q3: 982,793 shares; 2025Q4: 1,029,034 shares; 2026Q1: 1,254,973 shares; 2026Q2: 1,034,433 shares 1,034,433$355M8.32%-220,540Timeline
ACGLARCH CAP GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 3,372,737 shares; 2024Q4: 2,564,740 shares; 2025Q1: 2,560,861 shares; 2025Q2: 2,583,412 shares; 2025Q3: 2,724,635 shares; 2025Q4: 2,887,002 shares; 2026Q1: 3,051,421 shares; 2026Q2: 3,331,135 shares 3,331,135$323M7.58%+279,714Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 551,916 shares; 2024Q4: 556,664 shares; 2025Q1: 562,910 shares; 2025Q2: 566,442 shares; 2025Q3: 593,713 shares; 2025Q4: 626,682 shares; 2026Q1: 600,154 shares; 2026Q2: 572,290 shares 572,290$294M6.89%-27,864Timeline
EXPDEXPEDITORS INTL WASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,818,027 shares; 2024Q4: 1,827,619 shares; 2025Q1: 1,841,746 shares; 2025Q2: 1,856,558 shares; 2025Q3: 1,942,740 shares; 2025Q4: 2,052,531 shares; 2026Q1: 1,953,005 shares; 2026Q2: 1,553,964 shares 1,553,964$253M5.94%-399,041Timeline
ORLYOREILLY AUTOMOTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 304,133 shares; 2024Q4: 306,318 shares; 2025Q1: 287,917 shares; 2025Q2: 3,855,957 shares; 2025Q3: 3,778,446 shares; 2025Q4: 3,906,644 shares; 2026Q1: 3,513,674 shares; 2026Q2: 2,740,457 shares 2,740,457$252M5.92%-773,217Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 511,300 shares; 2024Q4: 511,120 shares; 2025Q1: 513,899 shares; 2025Q2: 516,014 shares; 2025Q3: 537,128 shares; 2025Q4: 563,557 shares; 2026Q1: 538,993 shares; 2026Q2: 422,806 shares 422,806$191M4.49%-116,187Timeline
DPZDOMINOS PIZZA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 715,002 shares; 2024Q4: 715,421 shares; 2025Q1: 716,952 shares; 2025Q2: 715,750 shares; 2025Q3: 744,515 shares; 2025Q4: 784,992 shares; 2026Q1: 755,140 shares; 2026Q2: 638,541 shares 638,541$189M4.43%-116,599Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 4,343,816 shares 4,343,816$178M4.18%newTimeline
NVRNVR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 23,616 shares; 2024Q4: 23,582 shares; 2025Q1: 23,838 shares; 2025Q2: 23,912 shares; 2025Q3: 25,042 shares; 2025Q4: 26,855 shares; 2026Q1: 25,419 shares; 2026Q2: 20,141 shares 20,141$137M3.22%-5,278Timeline
TJXTJX COS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,328,268 shares; 2024Q4: 2,260,158 shares; 2025Q1: 1,107,796 shares; 2025Q2: 1,068,130 shares; 2025Q3: 1,118,637 shares; 2025Q4: 1,168,859 shares; 2026Q1: 1,091,160 shares; 2026Q2: 872,770 shares 872,770$132M3.1%-218,390Timeline
ROSTROSS STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 3,908,958 shares; 2024Q4: 3,914,613 shares; 2025Q1: 3,906,183 shares; 2025Q2: 3,863,028 shares; 2025Q3: 4,020,413 shares; 2025Q4: 2,714,339 shares; 2026Q1: 1,818,806 shares; 2026Q2: 595,704 shares 595,704$127M2.97%-1,223,102Timeline
DISDISNEY WALT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,589,559 shares; 2024Q4: 1,592,282 shares; 2025Q1: 1,599,320 shares; 2025Q2: 1,574,766 shares; 2025Q3: 1,634,873 shares; 2025Q4: 1,695,189 shares; 2026Q1: 1,642,724 shares; 2026Q2: 1,298,132 shares 1,298,132$125M2.93%-344,592Timeline
FASTFASTENAL COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,011,096 shares; 2024Q4: 1,961,647 shares; 2025Q1: 1,974,506 shares; 2025Q2: 3,966,125 shares; 2025Q3: 3,749,494 shares; 2025Q4: 3,749,595 shares; 2026Q1: 3,309,287 shares; 2026Q2: 2,574,816 shares 2,574,816$124M2.9%-734,471Timeline
STRASTRATEGIC ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,829,622 shares; 2024Q4: 1,836,491 shares; 2025Q1: 1,849,034 shares; 2025Q2: 1,810,104 shares; 2025Q3: 1,585,588 shares; 2025Q4: 1,478,522 shares; 2026Q1: 792,930 shares; 2026Q2: 559,012 shares 559,012$42.8M1%-233,918Timeline

Sold out in Q2 2026

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

SecurityShares beforeValue beforeType
CMICUMMINS INC448,781$241Mshares

How Q2 2026 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 0001172661-26-003813 base2026-08-14acceptance time not in the bulk data set