Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (54 quarters reported)
$727M in Q2 2013 → $1.22B now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Progressive Corp | 12.4% | Trimmed 9.8% | 727,928 | $151M |
| Regeneron Pharmaceuticals | 10.7% | Trimmed 11% | 172,649 | $131M |
| BH Berkshire Hathaway Inc Del | 10.2% | Trimmed 12% | 248,492 | $124M |
| Amazon Com Inc | 8.3% | Trimmed 12% | 407,714 | $102M |
| Brookfield Corp | 6.5% | Trimmed 12% | 2,156,407 | $78.6M |
| MM Martin Marietta Matls Inc | 6.1% | Added 12% | 154,986 | $74.4M |
| Jpmorgan Chase & Co | 5.9% | Trimmed 12% | 217,302 | $71.9M |
| Alphabet Inc | 5.7% | Trimmed 12% | 202,749 | $69.8M |
| Paychex Inc | 5.6% | Trimmed 9.8% | 696,450 | $68.6M |
| Netflix Inc. | 5.3% | Trimmed 11% | 932,397 | $64.9M |
| Ecolab Inc | 5.3% | Trimmed 11% | 233,684 | $64.2M |
| UP Union Pac Corp | 4.1% | Trimmed 12% | 185,244 | $50.4M |
| Copart Inc | 4.0% | Trimmed 11% | 1,799,499 | $49.1M |
| Wells Fargo & Co | 3.5% | Trimmed 15% | 538,701 | $43.1M |
| FR Factset Resh Sys Inc | 3.4% | Trimmed 14% | 151,480 | $40.9M |
| Nike Inc | 1.9% | Trimmed 10% | 658,258 | $23.3M |
| BA Brookfield Asset Managmt Ltd | 0.8% | Trimmed 16% | 213,036 | $9.5M |
| Fastenal Co | 0.1% | Trimmed 28% | 29,000 | $1.44M |
| Alphabet Inc | 0.1% | Unchanged | 2,125 | $724K |
| IE Invesco Exchange Traded Fd T | 0.0% | Unchanged | 1,145 | $238K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 27, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BH Berkshire Hathaway Inc Del | Trimmed | −32,825 | −$16.3M | 10.2% |
| Progressive Corp | Trimmed | −78,800 | −$16.3M | 12.4% |
| Regeneron Pharmaceuticals | Trimmed | −20,389 | −$15.5M | 10.7% |
| Amazon Com Inc | Trimmed | −54,660 | −$13.6M | 8.3% |
| Brookfield Corp | Trimmed | −281,342 | −$10.3M | 6.5% |
| Jpmorgan Chase & Co | Trimmed | −30,519 | −$10.1M | 5.9% |
| Alphabet Inc | Trimmed | −26,362 | −$9.07M | 5.7% |
| Netflix Inc. | Trimmed | −113,900 | −$7.93M | 5.3% |
| Ecolab Inc | Trimmed | −28,621 | −$7.86M | 5.3% |
| MM Martin Marietta Matls Inc | Added | +16,010 | +$7.68M | 6.1% |
Showing the 10 largest of 18 changes.
quarter ended June 30, 2026 · filed July 29, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Progressive Corp | Trimmed | −74,135 | −$16.2M | 12.9% |
| BH Berkshire Hathaway Inc Del | Trimmed | −22,388 | −$11.2M | 10.3% |
| Amazon Com Inc | Trimmed | −40,746 | −$9.71M | 8.0% |
| Copart Inc | Added | +315,115 | +$8.88M | 4.2% |
| Brookfield Corp | Trimmed | −205,087 | −$8.73M | 7.6% |
| Ecolab Inc | Trimmed | −29,811 | −$8.31M | 5.3% |
| Regeneron Pharmaceuticals | Trimmed | −12,833 | −$8M | 8.8% |
| Jpmorgan Chase & Co | Trimmed | −20,435 | −$6.69M | 5.9% |
| Paychex Inc | Trimmed | −66,669 | −$6.56M | 5.5% |
| MM Martin Marietta Matls Inc | Trimmed | −10,936 | −$6.31M | 5.9% |
Showing the 10 largest of 20 changes.
quarter ended March 31, 2026 · filed May 04, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Fastenal Co | Trimmed | −772,160 | −$35.8M | 0.3% |
| Copart Inc | Added | +224,775 | +$7.46M | 3.9% |
| Brookfield Corp | Trimmed | −56,294 | −$2.28M | 7.3% |
| BH Berkshire Hathaway Inc Del | Trimmed | −4,325 | −$2.07M | 10.0% |
| Regeneron Pharmaceuticals | Trimmed | −2,370 | −$1.83M | 10.9% |
| Amazon Com Inc | Trimmed | −8,600 | −$1.79M | 7.2% |
| Ecolab Inc | Trimmed | −4,406 | −$1.17M | 5.3% |
| MM Martin Marietta Matls Inc | Trimmed | −1,726 | −$1.02M | 6.0% |
| Wells Fargo & Co | Trimmed | −9,068 | −$722K | 3.8% |
| Alphabet Inc | Trimmed | −2,220 | −$638K | 4.8% |
Showing the 10 largest of 19 changes.
quarter ended December 31, 2025 · filed January 30, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Netflix Inc | Added | +975,033 | +$91.4M | 6.2% |
| Copart Inc | New | +1,483,799 | +$58.1M | 3.6% |
| Brookfield Corp | Added | +819,203 | +$37.6M | 7.6% |
| FR Factset Resh Sys Inc | Added | +86,891 | +$25.2M | 3.3% |
| Progressive Corp | Trimmed | −29,157 | −$6.64M | 12.3% |
| Alphabet Inc | Trimmed | −18,768 | −$5.87M | 4.8% |
| BH Berkshire Hathaway Inc Del | Trimmed | −11,367 | −$5.71M | 9.5% |
| Jpmorgan Chase & Co. | Trimmed | −15,263 | −$4.92M | 5.3% |
| Amazon Com Inc | Trimmed | −19,544 | −$4.51M | 7.2% |
| WF Wells Fargo Co New | Trimmed | −44,156 | −$4.12M | 4.0% |
Showing the 10 largest of 21 changes.
quarter ended September 30, 2025 · filed November 10, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FR Factset Resh Sys Inc | New | +98,853 | +$28.3M | 1.8% |
| Brookfield Corp | Trimmed | −61,165 | −$4.19M | 8.0% |
| Progressive Corp | Trimmed | −16,339 | −$4.03M | 14.0% |
| BH Berkshire Hathaway Inc Del | Trimmed | −7,341 | −$3.69M | 10.0% |
| Amazon Com Inc | Trimmed | −14,071 | −$3.09M | 7.3% |
| Netflix Inc | Trimmed | −2,564 | −$3.07M | 8.3% |
| Regeneron Pharmaceuticals | Trimmed | −4,714 | −$2.65M | 7.5% |
| MM Martin Marietta Matls Inc | Trimmed | −4,033 | −$2.54M | 6.2% |
| Fastenal Co | Trimmed | −44,150 | −$2.17M | 2.8% |
| Paychex Inc | Trimmed | −16,567 | −$2.1M | 6.8% |
Showing the 10 largest of 18 changes.
quarter ended June 30, 2025 · filed July 31, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Elevance Health Inc | Trimmed | −112,312 | −$43.7M | 0.3% |
| UP Union Pac Corp | Added | +70,185 | +$16.1M | 3.6% |
| Jpmorgan Chase & Co. | Added | +51,807 | +$15M | 5.3% |
| Regeneron Pharmaceuticals | Added | +21,272 | +$11.2M | 7.2% |
| Fastenal Co | Added | +203,562 | +$8.55M | 2.5% |
| Netflix Inc | Trimmed | −6,354 | −$8.51M | 9.5% |
| Progressive Corp | Trimmed | −22,839 | −$6.09M | 15.6% |
| Amazon Com Inc | Trimmed | −23,825 | −$5.23M | 7.5% |
| Brookfield Corp | Trimmed | −61,391 | −$3.8M | 7.5% |
| Paychex Inc | Trimmed | −25,010 | −$3.64M | 8.0% |
Showing the 10 largest of 17 changes.
quarter ended March 31, 2025 · filed April 30, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Netflix Inc | Trimmed | −49,982 | −$46.6M | 7.1% |
| MM Martin Marietta Matls Inc | Added | +65,928 | +$31.5M | 5.0% |
| Progressive Corp | Trimmed | −82,147 | −$23.2M | 17.0% |
| Fastenal Co | Trimmed | −278,078 | −$21.6M | 3.7% |
| Regeneron Pharmaceuticals | Added | +26,593 | +$16.9M | 7.9% |
| WF Wells Fargo Co New | Trimmed | −33,721 | −$2.42M | 3.6% |
| BH Berkshire Hathaway Inc Del | Trimmed | −4,496 | −$2.39M | 11.2% |
| Paychex Inc | Trimmed | −12,170 | −$1.88M | 8.7% |
| UP Union Pac Corp | Trimmed | −5,581 | −$1.32M | 2.6% |
| Ecolab Inc | Trimmed | −5,105 | −$1.29M | 5.2% |
Showing the 10 largest of 18 changes.
quarter ended December 31, 2024 · filed February 07, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Netflix Inc | Trimmed | −43,733 | −$39M | 9.5% |
| Regeneron Pharmaceuticals | Added | +33,727 | +$24M | 7.6% |
| WF Wells Fargo Co New | Trimmed | −77,573 | −$5.45M | 3.6% |
| BH Berkshire Hathaway Inc Del | Trimmed | −6,119 | −$2.77M | 9.6% |
| Progressive Corp | Trimmed | −9,366 | −$2.24M | 15.6% |
| Paychex Inc | Trimmed | −10,758 | −$1.51M | 8.0% |
| Amazon Com Inc | Trimmed | −6,083 | −$1.33M | 7.8% |
| Brookfield Corp | Trimmed | −21,578 | −$1.24M | 7.3% |
| Ecolab Inc | Trimmed | −4,013 | −$940K | 4.8% |
| Jpmorgan Chase & Co. | Trimmed | −3,405 | −$816K | 3.6% |
Showing the 10 largest of 17 changes.
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