13F Filings History of MARSHFIELD ASSOCIATES

Latest 13F report
Q4 2025 - 17 Feb 2026
Value $
$5,704,794,334
Signature - Title
Brian Walker - General Counsel and CCO
Location
Washington, DC
Summary
This page shows a list of all the recent 13F filings made by MARSHFIELD ASSOCIATES. Form 13F is required to be filed within 45 days of the end of a calendar quarter. MARSHFIELD ASSOCIATES reported 17 stock holdings with total value $5,704,794,334 as of Q4 2025. Top holdings included AZO, PGR, UNH, ROST, and CMI.

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Holdings Value
Quarter Holdings Value $ Bought Sold Net Top Holdings Form Type Filing Time
Q4 2025 17 $5,704,794,334 +$376,488,273 -$417,877,384 -$41,389,111 AZO, PGR, UNH, ROST, CMI 13F-HR 17 Feb 2026, 16:03
Q3 2025 17 $5,778,772,605 +$530,849,719 -$52,138,717 +$478,711,002 AZO, ROST, UNH, CMI, ORLY 13F-HR 14 Nov 2025, 16:09
Q2 2025 19 $4,892,094,244 +$735,102,275 -$31,746,615 +$703,355,660 AZO, ROST, ORLY, CMI, V 13F-HR 14 Aug 2025, 16:03
Q1 2025 18 $4,615,810,240 +$33,350,545 -$170,142,127 -$136,791,582 AZO, ROST, ORLY, V, DPZ 13F-HR 15 May 2025, 16:17
Q4 2024 18 $4,614,272,062 +$13,576,243 -$87,137,976 -$73,561,733 ROST, AZO, CMI, ORLY, DPZ 13F-HR 14 Feb 2025, 15:35
Q3 2024 19 $4,711,447,632 +$14,229,078 -$123,738,148 -$109,509,070 ROST, AZO, ACGL, ORLY, CMI 13F-HR 15 Nov 2024, 06:06
Q2 2024 19 $4,523,437,709 +$15,768,161 -$286,407,434 -$270,639,273 ROST, AZO, ACGL, DPZ, ORLY 13F-HR 14 Aug 2024, 16:00
Q1 2024 19 $4,876,387,218 +$7,198,177 -$706,153,662 -$698,955,485 ROST, AZO, ACGL, TJX, DPZ 13F-HR 15 May 2024, 16:00
Q4 2023 21 $4,925,149,231 +$588,863,865 -$127,239,347 +$461,624,518 ROST, AZO, ACGL, GS, TJX 13F-HR 14 Feb 2024, 16:00
Q3 2023 22 $4,043,302,497 +$216,137,938 -$14,047,295 +$202,090,643 ACGL, ROST, AZO, TJX, GS 13F-HR 14 Nov 2023, 16:00
Q2 2023 21 $3,847,423,329 +$302,064,523 -$2,974,565 +$299,089,958 ACGL, ROST, AZO, TJX, GS 13F-HR 14 Aug 2023, 16:05
Q1 2023 20 $3,403,779,475 +$71,287,061 -$864,987 +$70,422,074 ACGL, ROST, AZO, GS, TJX 13F-HR 15 May 2023, 16:00
Q4 2022 2 $6,223,529 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 07:21
Q4 2022 19 $3,247,790,187 +$35,019,524 -$8,974,101 +$26,045,423 ROST, ACGL, AZO, GS, TJX 13F-HR 14 Feb 2023, 16:00
Q3 2022 2 $6,468,725 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 07:19
Q3 2022 19 $2,655,246,725 +$67,798,072 -$24,770,817 +$43,027,255 AZO, ACGL, ROST, GS, TJX 13F-HR 14 Nov 2022, 16:00
Q2 2022 2 $6,923,494 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 07:18
Q2 2022 19 $2,646,483,494 +$306,521,707 -$22,368,593 +$284,153,114 AZO, ACGL, GS, ROST, CMI 13F-HR 12 Aug 2022, 16:00
Q1 2022 2 $8,986,861 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 07:16
Q1 2022 19 $2,551,837,861 +$165,576,602 -$14,416,577 +$151,160,025 AZO, ACGL, GS, CMI, ROST 13F-HR 13 May 2022, 16:01
Q4 2021 2 $9,350,297 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 07:06
Q4 2021 18 $2,523,899,297 +$29,871,923 -$5,810,595 +$24,061,328 AZO, GS, ACGL, CMI, EXPD 13F-HR 14 Feb 2022, 16:01
Q3 2021 2 $11,353,181 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 07:05
Q3 2021 18 $2,291,225,181 +$65,535,251 -$152,597,768 -$87,062,517 GS, AZO, ACGL, CMI, V 13F-HR 15 Nov 2021, 16:01
Q2 2021 2 $9,979,262 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 07:02
Q2 2021 19 $2,435,605,262 +$227,894,784 -$62,693,945 +$165,200,839 GS, MCO, ACGL, AZO, CMI 13F-HR 16 Aug 2021, 06:15
Q1 2021 2 $9,877,324 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 07:00
Q1 2021 19 $2,134,647,324 +$1,373,032 -$241,331,619 -$239,958,587 GS, CMI, ACGL, AZO, MCO 13F-HR 17 May 2021, 16:06
Q4 2020 2 $8,517,860 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 06:58
Q4 2020 19 $2,145,906,860 +$1,229,003 -$156,492,591 -$155,263,588 DE, ACGL, CMI, MCO, GS 13F-HR 16 Feb 2021, 08:30
Q3 2020 2 $7,333,821 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 06:54
Q3 2020 20 $2,081,879,821 +$60,692,312 -$113,006,938 -$52,314,626 MCO, CMI, DE, AZO, MA 13F-HR 13 Nov 2020, 14:08
Q2 2020 2 $3,521,978 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 06:50
Q2 2020 20 $1,927,794,978 +$8,992,435 -$74,460,079 -$65,467,644 MCO, AZO, ACGL, CMI, CMG 13F-HR 14 Aug 2020, 11:24
Q1 2020 2 $3,597,335 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 06:45
Q1 2020 20 $1,623,323,335 +$213,442,401 -$82,068,158 +$131,374,243 MCO, ACGL, AZO, V, ROST 13F-HR 15 May 2020, 16:01
Q4 2019 2 $4,396,789 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 06:42
Q4 2019 19 $1,917,829,789 +$190,750,240 -$379,093 +$190,371,147 MCO, ACGL, AZO, MA, DE 13F-HR 18 Feb 2020, 09:15
Q3 2019 2 $4,783,812 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 06:38
Q3 2019 19 $1,591,455,812 +$1,284,623 -$13,773,579 -$12,488,956 MCO, ACGL, AZO, MA, DE 13F-HR 15 Nov 2019, 16:50
Q2 2019 2 $4,783,976 $0 $0 $0 VGSH, BIL New Holdings 09 May 2023, 06:35
Q2 2019 20 $1,565,060,976 +$46,055,187 -$196,422,644 -$150,367,457 MCO, ACGL, AZO, MA, DE 13F-HR 15 Aug 2019, 16:00
Q1 2019 1 $3,447,988 $0 $0 $0 VGSH New Holdings 09 May 2023, 06:30
Q1 2019 19 $1,635,173,988 +$1,005,963 -$47,827,951 -$46,821,988 MCO, CMG, ACGL, AZO, DE 13F-HR 16 May 2019, 14:58
Q4 2018 1 $2,595,982 $0 $0 $0 VGSH New Holdings 09 May 2023, 06:21
Q4 2018 19 $1,384,274,982 +$994,003 -$28,694,035 -$27,700,032 MCO, ACGL, DE, AZO, CMG 13F-HR 15 Feb 2019, 15:14
Q3 2018 1 $2,579,573 $0 $0 $0 VGSH New Holdings 09 May 2023, 06:19
Q3 2018 19 $1,559,407,573 +$70,450,000 -$146,441,519 -$75,991,519 MCO, ACGL, DE, CMG, MA 13F-HR 16 Nov 2018, 11:37
Q2 2018 1 $2,587,346 $0 $0 $0 VGSH New Holdings 09 May 2023, 06:17
Q2 2018 20 $1,506,016,346 +$84,450,011 -$19,979,114 +$64,470,897 MCO, ACGL, CMG, GS, DE 13F-HR 15 Aug 2018, 16:00
Q1 2018 1 $3,192,927 $0 $0 $0 VGSH New Holdings 09 May 2023, 06:16
Q1 2018 20 $1,491,110,927 +$24,525,355 -$70,706,989 -$46,181,634 MCO, ACGL, GS, DE, CMI 13F-HR 15 May 2018, 16:00
Q4 2017 19 $1,530,066,000 $0 -$122,352,496 -$122,352,496 MCO, ACGL, GS, DE, CMI 13F-HR 15 Feb 2018, 15:07
Q3 2017 19 $1,507,280,000 +$109,507,127 -$24,017,014 +$85,490,113 MCO, ACGL, NVR, GS, CMI 13F-HR 15 Nov 2017, 16:00
Q2 2017 19 $1,338,916,000 +$42,754,226 -$29,756,942 +$12,997,284 MCO, ACGL, GS, NVR, DE 13F-HR 15 Aug 2017, 16:00
Q1 2017 19 $1,281,668,000 +$3,563,274 -$132,813,230 -$129,249,956 MCO, ACGL, GS, NVR, CMI 13F-HR 17 May 2017, 14:19
Q4 2016 20 $1,309,615,000 +$24,065,977 -$60,761,111 -$36,695,134 ACGL, GS, MCO, DE, CMI 13F-HR 15 Feb 2017, 16:54
Q3 2016 19 $1,254,015,000 $0 -$230,760,771 -$230,760,771 MCO, ACGL, YUM, GS, CMI 13F-HR 15 Nov 2016, 16:01
Q2 2016 22 $1,397,641,000 +$61,264,509 -$60,837,496 +$427,013 MCO, ACGL, GS, WFC, NVR 13F-HR 15 Aug 2016, 16:00
Q1 2016 22 $1,410,554,000 +$93,674,750 -$44,576,375 +$49,098,375 MCO, ACGL, FAST, GS, WFC 13F-HR 16 May 2016, 16:00
Q4 2015 23 $1,360,039,000 +$58,849,363 -$9,025,994 +$49,823,369 MCO, ACGL, WFC, GS, NVR 13F-HR 16 Feb 2016, 15:44
Q3 2015 23 $1,296,854,000 +$128,572,535 -$36,870,507 +$91,702,028 ACGL, MCO, WFC, GS, NVR 13F-HR 13 Nov 2015, 17:00
Q2 2015 23 $1,278,140,000 +$17,624,853 -$118,486,181 -$100,861,328 MCO, ACGL, GS, WFC, YUM 13F-HR 14 Aug 2015, 15:00
Q1 2015 23 $1,327,573,000 +$58,357,607 -$85,336,023 -$26,978,416 WFC, MCO, ACGL, GS, AWHHF 13F-HR 15 May 2015, 15:54
Q4 2014 24 $1,364,371,000 +$23,437,878 -$23,363,233 +$74,645 WFC, MCO, ACGL, GS, AWHHF 13F-HR 13 Feb 2015, 12:07
Q3 2014 24 $1,293,599,000 +$823,885,992 -$890,778,408 -$66,892,416 WFC, MCO, ACGL, GS, AWHHF 13F-HR 14 Nov 2014, 12:14
Q2 2014 23 $1,361,855,000 +$925,935,558 -$891,693,156 +$34,242,402 Wells Fargo & Company, ACGL, Moody's Corp., GS, Brown & Brown, Inc. 13F-HR 13 Aug 2014, 15:57
Q1 2014 25 $1,360,976,000 +$72,208,632 -$29,549,995 +$42,658,637 WFC, ACGL, MCO, BRO, YUM 13F-HR 14 May 2014, 15:50
Q4 2013 25 $1,341,129,000 $0 $0 $0 WFC, ACGL, MCO, BRO, GS 13F-HR 14 Feb 2014, 15:35