Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$5.51B in Q2 2013 → $639M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| CH Copa Holdings | 35.3% | Trimmed 15% | 1,451,592 | $226M |
| RH Ryanair Hldgs PLC | 34.6% | Trimmed 11% | 3,419,717 | $221M |
| SE Samsung Electronic | 20.0% | Trimmed 27% | 23,676 | $128M |
| Donaldson Inc | 0.6% | Trimmed 45% | 40,004 | $3.59M |
| Henry Schein Inc | 0.5% | Trimmed 50% | 40,427 | $3.38M |
| Markel Group Inc | 0.5% | Trimmed 48% | 1,604 | $3.13M |
| Snap-on Inc | 0.5% | Trimmed 49% | 7,400 | $2.98M |
| Alphabet Inc | 0.4% | Trimmed 52% | 7,870 | $2.81M |
| Eagle Materials | 0.4% | Trimmed 27% | 12,310 | $2.77M |
| Qualcomm Inc | 0.4% | Trimmed 52% | 14,929 | $2.76M |
| DG Dollar Gen Corp | 0.4% | Trimmed 35% | 23,495 | $2.7M |
| Cullen Frost Bankers | 0.4% | Trimmed 50% | 16,308 | $2.52M |
| Berkshire Hathaway | 0.4% | Trimmed 44% | 5,035 | $2.52M |
| Gentex Corp | 0.4% | Trimmed 47% | 99,334 | $2.51M |
| Walt Disney Co | 0.4% | Trimmed 47% | 25,541 | $2.46M |
| Gilead Sciences Inc | 0.4% | Trimmed 50% | 18,900 | $2.39M |
| Brown Forman Corp | 0.4% | Trimmed 46% | 89,100 | $2.37M |
| Johnson & Johnson | 0.4% | Trimmed 56% | 9,200 | $2.34M |
| Xpel Inc | 0.4% | Trimmed 29% | 46,300 | $2.3M |
| Wells Fargo & Co | 0.3% | Trimmed 58% | 26,477 | $2.19M |
| PT Price T Rowe Group | 0.3% | Trimmed 60% | 18,714 | $2.13M |
| Exxon Mobil Corp | 0.3% | Trimmed 46% | 15,269 | $2.09M |
| CH C H Robinson Wldwide | 0.3% | Trimmed 67% | 10,912 | $2.06M |
| Toro Co | 0.3% | Trimmed 32% | 20,810 | $2.03M |
| American Express Co | 0.3% | Trimmed 50% | 5,442 | $1.84M |
| Microsoft Corp | 0.2% | Trimmed 7.7% | 3,840 | $1.43M |
| Accenture PLC | 0.2% | Trimmed 32% | 11,183 | $1.39M |
| Nike Inc | 0.2% | Trimmed 32% | 33,900 | $1.39M |
| Meta Platforms Inc | 0.2% | Trimmed 50% | 2,351 | $1.32M |
| BD Becton Dickinson | 0.2% | Trimmed 49% | 8,000 | $1.21M |
| Littelfuse Inc | 0.0% | Trimmed 19% | 570 | $260K |
| Cognex Corp | 0.0% | Trimmed 13% | 2,800 | $203K |
| BF Bok Finl Corp | 0.0% | Unchanged | 1,400 | $194K |
| Acuity Inc | 0.0% | Unchanged | 470 | $177K |
| MI Msc Indl Direct Inc | 0.0% | Unchanged | 1,400 | $167K |
| LS Landstar Sys Inc | 0.0% | Unchanged | 800 | $165K |
| Wafd Inc | 0.0% | Unchanged | 4,200 | $161K |
| Axos Financial | 0.0% | Unchanged | 1,400 | $136K |
| SM Simpson Manufacturin | 0.0% | Unchanged | 500 | $105K |
| Graco Inc | 0.0% | Unchanged | 900 | $68K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 07, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SE Samsung Electronic | Trimmed | −8,706 | −$46.9M | 20.0% |
| CH Copa Holdings | Trimmed | −247,418 | −$38.5M | 35.3% |
| RH Ryanair Hldgs PLC | Trimmed | −423,350 | −$27.4M | 34.6% |
| CH C H Robinson Wldwide | Trimmed | −21,700 | −$4.09M | 0.3% |
| Henry Schein Inc | Trimmed | −39,700 | −$3.32M | 0.5% |
| PT Price T Rowe Group | Trimmed | −28,156 | −$3.2M | 0.3% |
| SB State Bk Of India | Exited | −29,590 | −$3.13M | — |
| Qualcomm Inc | Trimmed | −16,400 | −$3.03M | 0.4% |
| Alphabet Inc | Trimmed | −8,414 | −$3.01M | 0.4% |
| Wells Fargo & Co | Trimmed | −36,043 | −$2.98M | 0.3% |
Showing the 10 largest of 34 changes.
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SE Samsung Electronic | Trimmed | −23,274 | −$66M | 14.7% |
| RH Ryanair Hldgs PLC | Trimmed | −694,055 | −$40.1M | 35.5% |
| CH Copa Holdings | Trimmed | −212,085 | −$24.1M | 30.9% |
| SB State Bk Of India | Trimmed | −63,320 | −$6.7M | 0.5% |
| MI Msc Indl Direct Inc | Trimmed | −61,236 | −$5.65M | — |
| CH C H Robinson Wldwide | Trimmed | −20,270 | −$3.37M | 0.9% |
| Gilead Sciences Inc | Trimmed | −21,970 | −$3.06M | 0.8% |
| Nike Inc | New | +50,200 | +$2.65M | 0.4% |
| Berkshire Hathaway | Trimmed | −3,871 | −$1.85M | 0.7% |
| Exxon Mobil Corp | Trimmed | −10,690 | −$1.81M | 0.8% |
Showing the 10 largest of 34 changes.
quarter ended December 31, 2025 · filed February 03, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SE Samsung Electronic | Trimmed | −96,606 | −$200M | 13.9% |
| RH Ryanair Hldgs PLC | Trimmed | −736,386 | −$53.2M | 39.5% |
| CH Copa Holdings | Trimmed | −390,789 | −$47.1M | 27.8% |
| CI Commercial Intl Bk | Exited | −19,070,742 | −$38.5M | — |
| CH C H Robinson Wldwide | Trimmed | −98,800 | −$15.9M | 1.0% |
| Markel Group Inc | Trimmed | −7,070 | −$15.2M | 1.0% |
| Donaldson Inc | Trimmed | −166,097 | −$14.7M | 1.0% |
| Alphabet Inc | Trimmed | −46,720 | −$14.6M | 0.8% |
| Wells Fargo & Co | Trimmed | −150,157 | −$14M | 0.9% |
| Henry Schein Inc | Trimmed | −179,273 | −$13.5M | 0.9% |
Showing the 10 largest of 33 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RH Ryanair Hldgs PLC | Trimmed | −737,699 | −$44.4M | 25.5% |
| CH Copa Holdings | Trimmed | −231,852 | −$27.5M | 22.0% |
| SE Samsung Electronic | Trimmed | −14,312 | −$21.4M | 18.3% |
| Rtx Corporation | Trimmed | −36,900 | −$6.17M | 0.9% |
| CI Commercial Intl Bk | Trimmed | −2,142,030 | −$4.33M | 3.1% |
| BW Borg Warner Inc | Exited | −83,430 | −$2.79M | — |
| DG Dollar Gen Corp | Added | +26,979 | +$2.79M | 0.5% |
| Meta Platforms Inc | Trimmed | −3,609 | −$2.65M | 1.5% |
| Berkshire Hathaway | Trimmed | −5,017 | −$2.52M | 1.6% |
| Markel Group Inc | Trimmed | −1,301 | −$2.49M | 1.7% |
Showing the 10 largest of 41 changes.
quarter ended June 30, 2025 · filed August 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RH Ryanair Hldgs PLC | Trimmed | −1,411,793 | −$81.4M | 28.0% |
| CH Copa Holdings | Trimmed | −545,796 | −$60M | 22.5% |
| SE Samsung Electronic | Trimmed | −38,164 | −$42M | 14.8% |
| Intel Corp | Exited | −516,720 | −$11.7M | — |
| CI Commercial Intl Bk | Trimmed | −6,045,883 | −$10.2M | 2.9% |
| Rtx Corporation | Trimmed | −37,600 | −$5.49M | 1.2% |
| DG Dollar Gen Corp | New | +38,731 | +$4.43M | 0.4% |
| Toro Co | Added | +41,400 | +$2.93M | 0.4% |
| Xpel Inc | Added | +67,100 | +$2.41M | 0.3% |
| Wells Fargo & Co | Added | +27,344 | +$2.19M | 1.7% |
Showing the 10 largest of 44 changes.
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RH Ryanair Hldgs PLC | Trimmed | −1,033,700 | −$23.9M | 18.4% |
| CH Copa Holdings | Trimmed | −260,055 | −$16.3M | 20.8% |
| BW Borg Warner Inc | Trimmed | −534,097 | −$15.3M | 0.3% |
| Berkshire Hathaway | Trimmed | −27,331 | −$14.6M | 2.8% |
| Ambev Sa | Exited | −7,677,698 | −$14.2M | — |
| Biogen Inc | Trimmed | −83,745 | −$11.5M | 0.2% |
| Markel Group Inc | Trimmed | −5,464 | −$10.2M | 2.5% |
| Meta Platforms Inc | Trimmed | −14,591 | −$8.41M | 1.9% |
| Exxon Mobil Corp | Added | +69,690 | +$8.29M | 1.3% |
| Rtx Corporation | Trimmed | −61,293 | −$8.12M | 2.0% |
Showing the 10 largest of 34 changes.
quarter ended December 31, 2024 · filed February 10, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TD Toronto Dominion Bk | Exited | −2,164,430 | −$137M | — |
| Ambev Sa | Trimmed | −60,420,955 | −$112M | 1.0% |
| SE Samsung Electronic | Trimmed | −16,894 | −$15.4M | 13.3% |
| CH Copa Holdings | Added | +150,013 | +$13.2M | 21.0% |
| Brown Forman Corp | New | +249,800 | +$9.49M | 0.7% |
| RH Ryanair Hldgs PLC | Trimmed | −141,401 | −$6.16M | 26.4% |
| Cullen Frost Bankers | Trimmed | −22,800 | −$3.06M | 1.6% |
| Meta Platforms Inc | Trimmed | −3,706 | −$2.17M | 1.9% |
| Qualcomm Inc | Trimmed | −11,400 | −$1.75M | 1.6% |
| CI Commercial Intl Bk | Trimmed | −815,940 | −$1.21M | 3.1% |
Showing the 10 largest of 11 changes.
quarter ended September 30, 2024 · filed October 24, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RH Ryanair Hldgs PLC | Added | +5,429,939 | +$245M | 21.7% |
| BB Banco Bradesco S A | Exited | −72,739,401 | −$163M | — |
| TD Toronto Dominion Bk | Added | +218,330 | +$13.8M | 7.7% |
| CH Copa Holdings | Added | +103,385 | +$9.7M | 16.7% |
| SE Samsung Electronic | Trimmed | −5,368 | −$6.28M | 14.4% |
| Ambev Sa | Trimmed | −2,191,319 | −$5.35M | 9.3% |
| Snap-on Inc | Added | +11,200 | +$3.24M | 0.3% |
| Rtx Corporation | Trimmed | −18,500 | −$2.24M | 1.4% |
| Intel Corp | Added | +47,300 | +$1.11M | 0.8% |
| Meta Platforms Inc | Trimmed | −1,446 | −$828K | 1.5% |
Showing the 10 largest of 31 changes.
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