Latest MARSHFIELD ASSOCIATES Stock Portfolio
MARSHFIELD ASSOCIATES Performance:
2025 Q4: -1.22%YTD: 9.97%2024: 19.52%
Performance for 2025 Q4 is -1.22%, and YTD is 9.97%, and 2024 is 19.52%.
About MARSHFIELD ASSOCIATES and 13F Hedge Fund Stock Holdings
On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, MARSHFIELD ASSOCIATES reported an equity portfolio of $5.7 Billions as of 31 Dec, 2025.
The top stock holdings of MARSHFIELD ASSOCIATES are AZO, PGR, UNH. The fund has invested 10.4% of it's portfolio in AUTOZONE INC and 10.1% of portfolio in PROGRESSIVE CORP.
They significantly reduced their stock positions in ROSS STORES INC (ROST), CUMMINS INC (CMI) and STRATEGIC ED INC (STRA). The fund showed a lot of confidence in some stocks as they added substantially to PROGRESSIVE CORP (PGR), NVR INC (NVR) and ARCH CAP GROUP LTD (ACGL).
The top stock holdings of MARSHFIELD ASSOCIATES are AZO, PGR, UNH. The fund has invested 10.4% of it's portfolio in AUTOZONE INC and 10.1% of portfolio in PROGRESSIVE CORP.
They significantly reduced their stock positions in ROSS STORES INC (ROST), CUMMINS INC (CMI) and STRATEGIC ED INC (STRA). The fund showed a lot of confidence in some stocks as they added substantially to PROGRESSIVE CORP (PGR), NVR INC (NVR) and ARCH CAP GROUP LTD (ACGL).
MARSHFIELD ASSOCIATES Annual Return Estimates Vs S&P 500
Our best estimate is that MARSHFIELD ASSOCIATES made a return of -1.22% in the last quarter. In trailing 12 months, it's portfolio return was 9.97%.
- Performance
- S&P 500
New Buys
Additions
| Ticker | % Inc. |
|---|---|
| progressive corp | 60.11 |
| nvr inc | 7.24 |
| arch cap group ltd | 5.96 |
| expeditors intl wash inc | 5.65 |
| mastercard incorporated | 5.55 |
| dominos pizza inc | 5.44 |
| moodys corp | 4.92 |
| visa inc | 4.71 |
Additions to existing portfolio by MARSHFIELD ASSOCIATES
Reductions
| Ticker | % Reduced |
|---|---|
| ross stores inc | -32.49 |
| cummins inc | -30.86 |
| strategic ed inc | -6.75 |
MARSHFIELD ASSOCIATES reduced stake in above stock
Sold off
Sector Distribution
MARSHFIELD ASSOCIATES has about 37.5% of it's holdings in Consumer Cyclical sector.
- Consumer Cyclical
- Financial Services
- Industrials
- Healthcare
- Communication Services
- Consumer Defensive
| Sector | % |
|---|---|
| Consumer Cyclical | 37.5 |
| Financial Services | 32.6 |
| Industrials | 14.8 |
| Healthcare | 9.6 |
| Communication Services | 3.4 |
| Consumer Defensive | 2.1 |
Market Cap. Distribution
MARSHFIELD ASSOCIATES has about 97.9% of it's portfolio invested in the large-cap and mega-cap stocks.
- LARGE-CAP
- MEGA-CAP
- SMALL-CAP
| Category | % |
|---|---|
| LARGE-CAP | 75.7 |
| MEGA-CAP | 22.2 |
| SMALL-CAP | 2.1 |
Stocks belong to which Index?
About 100% of the stocks held by MARSHFIELD ASSOCIATES either belong to S&P 500 or RUSSELL 2000 index.
- S&P 500
- RUSSELL 2000
| Index | % |
|---|---|
| S&P 500 | 97.9 |
| RUSSELL 2000 | 2.1 |
MARSHFIELD ASSOCIATES Holdings Map
This heatmap illustrates the top 50 positions within the fund's portfolio.
Current Stock Holdings of MARSHFIELD ASSOCIATES
MARSHFIELD ASSOCIATES has 17 stocks in it's portfolio. About 75.4% of the portfolio is in top 10 stocks. AZO proved to be the most loss making stock for the portfolio. ROST was the most profitable stock for MARSHFIELD ASSOCIATES last quarter.
Last Reported on: 17 Feb, 2026| Ticker | Namesorted ascending | % Portfolio | Shares Held | $ Value | Type | % Change | Options | |
|---|---|---|---|---|---|---|---|---|
| ACGL | arch cap group ltd | 4.85 | 2,887,000 | 276,921,000 | added | 5.96 | ||
| AZO | autozone inc | 10.40 | 174,918 | 593,235,000 | added | 1.5 | ||
| CMI | cummins inc | 6.83 | 763,648 | 389,804,000 | reduced | -30.86 | ||
| DIS | disney walt co | 3.38 | 1,695,190 | 192,862,000 | added | 3.69 | ||
| DPZ | dominos pizza inc | 5.74 | 784,992 | 327,200,000 | added | 5.44 | ||
| EXPD | expeditors intl wash inc | 5.36 | 2,052,530 | 305,848,000 | added | 5.65 | ||
| FAST | fastenal co | 2.64 | 3,749,600 | 150,471,000 | added | 0.00 | ||
| MA | mastercard incorporated | 6.27 | 626,682 | 357,760,000 | added | 5.55 | ||
| MCO | moodys corp | 5.05 | 563,557 | 287,893,000 | added | 4.92 | ||
| NVR | nvr inc | 3.43 | 26,855 | 195,851,000 | added | 7.24 | ||
| ORLY | oreilly automotive inc | 6.25 | 3,906,640 | 356,325,000 | added | 3.39 | ||
| PGR | progressive corp | 10.08 | 2,525,730 | 575,160,000 | added | 60.11 | ||
| ROST | ross stores inc | 8.57 | 2,714,340 | 488,961,000 | reduced | -32.49 | ||
| STRA | strategic ed inc | 2.08 | 1,478,520 | 118,577,000 | reduced | -6.75 | ||
| TJX | tjx cos inc new | 3.15 | 1,168,860 | 179,548,000 | added | 4.49 | ||
| UNH | unitedhealth group inc | 9.60 | 1,658,490 | 547,483,000 | added | 2.8 | ||
| V | visa inc | 6.33 | 1,029,030 | 360,893,000 | added | 4.71 | ||