Marshfield Associates (Christopher Blake) latest 13F portfolio: 17 holdings worth $4.3B as of Q2 2026.
Backtested since 2020: mirroring Marshfield Associates's reported 13F equity holdings each quarter would have returned +202.0% versus +186.7%for the S&P 500 (+19.0% annualized). See the Performance tab for the full equity curve.
Investor: Christopher Blake
Number of Assets: 17
Reporting Period: Q2 - 2026
Holdings at Report: $4,264,844,791
Return $ Since Report: -$55,303,570
Return % Since Report: -1.30%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Domino's Pizza Inc. (DPZ) | Equity | -15.44% | 638,541 | 4.43% | $296.04 | $295.89 | $189,033,792 | $188,937,896 | -$95,896 | -0.05% |
| Fastenal Company (FAST) | Equity | -22.19% | 2,574,816 | 2.90% | $48.03 | $49.39 | $123,668,417 | $127,170,162 | +$3,501,745 | +2.83% |
| Nike Inc. (NKE) | Equity | +100% | 4,343,816 | 4.18% | $41.05 | $36.09 | $178,313,647 | $156,763,976 | -$21,549,671 | -12.09% |
| The Progressive Corp. (PGR) | Equity | -12.31% | 2,153,186 | 11.03% | $218.45 | $213.50 | $470,363,489 | $459,705,211 | -$10,658,278 | -2.27% |
| Arch Capital Group Ltd. (ACGL) | Equity | +9.17% | 3,331,135 | 7.58% | $97.06 | $96.15 | $323,319,956 | $320,288,630 | -$3,031,326 | -0.94% |
| Moody's Corp. (MCO) | Equity | -21.56% | 422,806 | 4.49% | $452.92 | $468.86 | $191,497,359 | $198,234,707 | +$6,737,348 | +3.52% |
| O'Reilly Automotive Inc. (ORLY) | Equity | -22.01% | 2,740,457 | 5.92% | $92.09 | $83.75 | $252,368,685 | $229,513,274 | -$22,855,411 | -9.06% |
| Strategic Education Inc. (STRA) | Equity | -29.50% | 559,012 | 1.00% | $76.62 | $79.38 | $42,831,474 | $44,374,373 | +$1,542,899 | +3.60% |
| Visa Inc. (V) | Equity | -17.57% | 1,034,433 | 8.32% | $343.09 | $368.91 | $354,903,450 | $381,612,678 | +$26,709,228 | +7.53% |
| The Walt Disney Company (DIS) | Equity | -20.98% | 1,298,132 | 2.93% | $96.25 | $104.30 | $124,945,168 | $135,395,168 | +$10,450,000 | +8.36% |
| Expeditors International Of Washington Inc. (EXPD) | Equity | -20.43% | 1,553,964 | 5.94% | $162.98 | $193.19 | $253,265,083 | $300,202,535 | +$46,937,452 | +18.53% |
| UnitedHealth Group Inc. (UNH) | Equity | -19.28% | 1,526,157 | 14.87% | $415.63 | $377.66 | $634,316,697 | $576,368,453 | -$57,948,244 | -9.14% |
| Autozone Inc. (AZO) | Equity | -17.37% | 136,373 | 10.22% | $3,195.95 | $2,850.69 | $435,840,725 | $388,757,147 | -$47,083,578 | -10.80% |
| The Tjx Companies Inc. (TJX) | Equity | -20.01% | 872,770 | 3.10% | $151.50 | $130.72 | $132,224,596 | $114,088,494 | -$18,136,102 | -13.72% |
| Mastercard Inc. (MA) | Equity | -4.64% | 572,290 | 6.89% | $513.60 | $566.53 | $293,927,923 | $324,216,592 | +$30,288,669 | +10.30% |
| NVR Inc. (NVR) | Equity | -20.76% | 20,141 | 3.22% | $6,813.40 | $6,222.06 | $137,228,689 | $125,318,410 | -$11,910,279 | -8.68% |
| Ross Stores Inc. (ROST) | Equity | -67.25% | 595,704 | 2.97% | $212.85 | $232.66 | $126,795,641 | $138,593,514 | +$11,797,873 | +9.30% |