Investor: Thomas S. Gayner
Number of Assets: 135
Reported Holdings: $11,261,372,517
Reporting Period: Q1 - 2025
Return Since Report: +$300,329,655
Return Since Report: +2.67%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| 3m Company (MMM) | Equity | 0% | 293,750 | 0.38% | $146.86 | $148.13 | $43,140,125 | $43,513,188 | +$373,063 | +0.86% |
| Accenture PLC (ACN) | Equity | 0% | 159,400 | 0.44% | $312.04 | $312.90 | $49,739,176 | $49,876,260 | +$137,084 | +0.28% |
| Acuity Inc. (AYI) | Equity | +225.00% | 9,750 | 0.02% | $263.35 | $264.25 | $2,567,663 | $2,576,438 | +$8,775 | +0.34% |
| Air Products And Chemicals Inc. (APD) | Equity | +0.78% | 65,000 | 0.17% | $294.92 | $283.29 | $19,169,800 | $18,413,850 | -$755,950 | -3.94% |
| Airbnb Inc. (ABNB) | Equity | +59.41% | 183,820 | 0.19% | $119.46 | $132.90 | $21,959,137 | $24,429,678 | +$2,470,541 | +11.25% |
| The Allstate Corp. (ALL) | Equity | 0% | 154,550 | 0.28% | $207.07 | $211.26 | $32,002,669 | $32,650,233 | +$647,564 | +2.02% |
| Alphabet Inc. (GOOGL) | Equity | +0.36% | 557,000 | 0.76% | $154.64 | $166.18 | $86,134,480 | $92,562,260 | +$6,427,780 | +7.46% |
| Alphabet Inc. (GOOG) | Equity | 0% | 2,749,860 | 3.81% | $156.23 | $167.71 | $429,610,627 | $461,179,021 | +$31,568,394 | +7.35% |
| Amazon.com Inc. (AMZN) | Equity | 0% | 2,030,760 | 3.43% | $190.26 | $205.71 | $386,372,398 | $417,747,640 | +$31,375,242 | +8.12% |
| American Express Company (AXP) | Equity | 0% | 484,250 | 1.16% | $269.05 | $297.39 | $130,287,464 | $144,011,108 | +$13,723,644 | +10.53% |
| Analog Devices Inc. (ADI) | Equity | 0% | 1,167,671 | 2.09% | $201.67 | $218.43 | $235,484,210 | $255,054,377 | +$19,570,167 | +8.31% |
| Anheuser Busch Inbev NV (BUD) | Equity | 0% | 11,000 | 0.01% | $61.56 | $70.66 | $677,160 | $777,260 | +$100,100 | +14.78% |
| Aon PLC (AON) | Equity | +2.58% | 129,450 | 0.46% | $399.09 | $374.48 | $51,662,202 | $48,476,436 | -$3,185,766 | -6.17% |
| Apollo Global Management Inc. (APO) | Equity | 0% | 1,012,500 | 1.23% | $136.94 | $131.10 | $138,651,750 | $132,738,750 | -$5,913,000 | -4.26% |
| Apple Inc. (AAPL) | Equity | 0% | 1,227,290 | 2.42% | $222.13 | $203.27 | $272,617,927 | $249,471,238 | -$23,146,689 | -8.49% |
| Ball Corp. (BALL) | Equity | 0% | 51,000 | 0.02% | $52.07 | $53.46 | $2,655,570 | $2,726,460 | +$70,890 | +2.67% |
| The Bank Of New York Mellon Corp. (BK) | Equity | 0% | 121,500 | 0.09% | $83.87 | $89.32 | $10,190,205 | $10,852,380 | +$662,175 | +6.50% |
| W. R. Berkley Corp. (WRB) | Equity | 0% | 60,750 | 0.04% | $71.16 | $74.76 | $4,322,970 | $4,541,670 | +$218,700 | +5.06% |
| Berkshire Hathaway Inc. (BRK-A) | Equity | 0% | 1,114 | 7.90% | $798,441.60 | $746,200.00 | $889,463,943 | $831,266,800 | -$58,197,143 | -6.54% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | 0% | 1,531,971 | 7.25% | $532.58 | $497.83 | $815,897,115 | $762,661,123 | -$53,235,992 | -6.52% |
| Blackrock Inc. (BLK) | Equity | 0% | 220,200 | 1.85% | $946.48 | $982.13 | $208,414,895 | $216,265,026 | +$7,850,131 | +3.77% |
| Blackstone Inc. (BX) | Equity | 0% | 1,229,000 | 1.53% | $139.78 | $144.20 | $171,789,621 | $177,221,800 | +$5,432,179 | +3.16% |
| Brookfield Asset Management Ltd. (BAM) | Equity | 0% | 2,193,953 | 0.94% | $48.45 | $53.93 | $106,297,024 | $118,319,885 | +$12,022,861 | +11.31% |
| Brookfield Corp. (BN) | Equity | 0% | 8,715,741 | 4.06% | $52.41 | $58.19 | $456,791,987 | $507,168,969 | +$50,376,982 | +11.03% |
| Brown-Forman Corp. (BF-A) | Equity | 0% | 843,000 | 0.25% | $33.47 | $33.12 | $28,215,210 | $27,920,160 | -$295,050 | -1.05% |
| Brown-Forman Corp. (BF-B) | Equity | 0% | 474,187 | 0.14% | $33.94 | $33.21 | $16,093,908 | $15,747,750 | -$346,158 | -2.15% |
| Brunswick Corp. (BC) | Equity | +96.67% | 29,500 | 0.01% | $53.85 | $53.10 | $1,588,575 | $1,566,450 | -$22,125 | -1.39% |
| CBOE Global Markets Inc. (CBOE) | Equity | +100% | 6,000 | 0.01% | $226.29 | $227.28 | $1,357,740 | $1,363,680 | +$5,940 | +0.44% |
| Celanese Corp. (CE) | Equity | 0% | 81,300 | 0.04% | $56.77 | $53.78 | $4,615,401 | $4,372,314 | -$243,087 | -5.27% |
| Choice Hotels International Inc. (CHH) | Equity | 0% | 115,500 | 0.14% | $132.78 | $127.63 | $15,336,090 | $14,741,265 | -$594,825 | -3.88% |
| Cisco Systems Inc. (CSCO) | Equity | 0% | 342,000 | 0.19% | $61.71 | $64.36 | $21,104,820 | $22,011,120 | +$906,300 | +4.29% |
| CME Group Inc. (CME) | Equity | +216.67% | 9,500 | 0.02% | $265.29 | $282.31 | $2,520,255 | $2,681,945 | +$161,690 | +6.42% |
| Comcast Corp. (CMCSA) | Equity | 0% | 961,880 | 0.32% | $36.90 | $34.66 | $35,493,372 | $33,338,761 | -$2,154,611 | -6.07% |
| Eastman Chemical Company (EMN) | Equity | 0% | 74,950 | 0.06% | $88.11 | $80.46 | $6,603,845 | $6,030,477 | -$573,368 | -8.68% |
| Ecolab Inc. (ECL) | Equity | 0% | 274,300 | 0.62% | $253.52 | $265.42 | $69,540,536 | $72,804,706 | +$3,264,170 | +4.69% |
| Equifax Inc. (EFX) | Equity | 0% | 72,850 | 0.16% | $243.56 | $263.47 | $17,743,346 | $19,193,790 | +$1,450,444 | +8.17% |
| Factset Research Systems Inc. (FDS) | Equity | 0% | 116,720 | 0.47% | $454.64 | $434.52 | $53,065,582 | $50,717,174 | -$2,348,408 | -4.43% |
| Fedex Corp. (FDX) | Equity | +3.15% | 213,000 | 0.46% | $243.78 | $219.78 | $51,925,140 | $46,813,140 | -$5,112,000 | -9.84% |
| Ferguson Enterprises Inc. (FERG) | Equity | +16.04% | 123,000 | 0.18% | $160.23 | $211.36 | $19,708,290 | $25,997,280 | +$6,288,990 | +31.91% |
| Franco-Nevada Corp. (FNV) | Equity | +8.69% | 525,250 | 0.73% | $157.56 | $176.37 | $82,758,390 | $92,638,343 | +$9,879,953 | +11.94% |
| Gartner Inc. (IT) | Equity | 0% | 5,700 | 0.02% | $419.74 | $432.23 | $2,392,518 | $2,463,711 | +$71,193 | +2.98% |
| Graham Holdings Company (GHC) | Equity | 0% | 5,200 | 0.04% | $960.86 | $965.19 | $4,996,472 | $5,018,988 | +$22,516 | +0.45% |
| Graphic Packaging Holding Company (GPK) | Equity | +7.96% | 461,225 | 0.11% | $25.96 | $22.24 | $11,973,401 | $10,257,644 | -$1,715,757 | -14.33% |
| The Hanover Insurance Group Inc. (THG) | Equity | +4.87% | 280,000 | 0.43% | $173.95 | $176.93 | $48,706,000 | $49,540,400 | +$834,400 | +1.71% |
| HCA Healthcare Inc. (HCA) | Equity | +9.58% | 62,001 | 0.19% | $345.55 | $383.06 | $21,424,446 | $23,750,103 | +$2,325,657 | +10.86% |
| Heico Corp. (HEI-A) | Equity | 0% | 379,644 | 0.71% | $210.97 | $234.21 | $80,093,494 | $88,916,421 | +$8,822,927 | +11.02% |
| The Hershey Company (HSY) | Equity | +21.11% | 54,500 | 0.08% | $171.03 | $163.08 | $9,321,135 | $8,887,860 | -$433,275 | -4.65% |
| Huntington Ingalls Industries Inc. (HII) | Equity | +350.00% | 18,000 | 0.03% | $204.04 | $227.96 | $3,672,720 | $4,103,280 | +$430,560 | +11.72% |
| Illinois Tool Works Inc. (ITW) | Equity | 0% | 327,500 | 0.72% | $248.01 | $245.26 | $81,223,276 | $80,322,650 | -$900,626 | -1.11% |
| Investors Title Company (ITIC) | Equity | 0% | 213,300 | 0.46% | $241.08 | $200.03 | $51,422,364 | $42,666,399 | -$8,755,965 | -17.03% |
| Iqvia Holdings Inc. (IQV) | Equity | 0% | 58,726 | 0.09% | $176.30 | $142.78 | $10,353,394 | $8,384,898 | -$1,968,496 | -19.01% |
| Johnson & Johnson (JNJ) | Equity | 0% | 610,800 | 0.90% | $165.84 | $154.42 | $101,295,073 | $94,319,736 | -$6,975,337 | -6.89% |
| JP Morgan Chase & Co. (JPM) | Equity | 0% | 252,550 | 0.55% | $245.30 | $266.27 | $61,950,515 | $67,246,489 | +$5,295,974 | +8.55% |
| Archer-Daniels-Midland Company (ADM) | Equity | +5.22% | 1,551,300 | 0.66% | $48.01 | $47.28 | $74,477,912 | $73,345,464 | -$1,132,448 | -1.52% |
| Cable One Inc. (CABO) | Equity | -76.62% | 11,900 | 0.03% | $265.77 | $144.56 | $3,162,663 | $1,720,264 | -$1,442,399 | -45.61% |
| Capital One Financial Corp. (COF) | Equity | 0% | 91,000 | 0.14% | $179.30 | $195.63 | $16,316,300 | $17,802,330 | +$1,486,030 | +9.11% |
| The Carlyle Group Inc. (CG) | Equity | 0% | 1,327,000 | 0.51% | $43.59 | $45.27 | $57,843,930 | $60,073,290 | +$2,229,360 | +3.85% |
| Carmax Inc. (KMX) | Equity | 0% | 136,500 | 0.09% | $77.92 | $66.25 | $10,636,080 | $9,043,125 | -$1,592,955 | -14.98% |
| Carrier Global Corp. (CARR) | Equity | 0% | 235,000 | 0.13% | $63.40 | $70.80 | $14,899,000 | $16,638,000 | +$1,739,000 | +11.67% |
| Caterpillar Inc. (CAT) | Equity | +1.00% | 328,050 | 0.96% | $329.80 | $349.40 | $108,190,890 | $114,620,670 | +$6,429,780 | +5.94% |
| Comfort Systems Usa Inc. (FIX) | Equity | 0% | 13,000 | 0.04% | $322.33 | $465.23 | $4,190,290 | $6,047,990 | +$1,857,700 | +44.33% |
| Costar Group Inc. (CSGP) | Equity | 0% | 18,600 | 0.01% | $79.23 | $75.69 | $1,473,678 | $1,407,834 | -$65,844 | -4.47% |
| Costco Wholesale Corp. (COST) | Equity | 0% | 39,150 | 0.33% | $945.78 | $1,055.59 | $37,027,287 | $41,326,349 | +$4,299,062 | +11.61% |
| Crown Holdings Inc. (CCK) | Equity | 0% | 189,500 | 0.15% | $89.26 | $98.20 | $16,914,770 | $18,608,900 | +$1,694,130 | +10.02% |
| Deere & Company (DE) | Equity | +0.31% | 877,700 | 3.66% | $469.35 | $513.15 | $411,948,496 | $450,391,755 | +$38,443,259 | +9.33% |
| Diageo PLC (DEO) | Equity | 0% | 1,366,708 | 1.27% | $104.79 | $107.59 | $143,217,331 | $147,044,114 | +$3,826,783 | +2.67% |
| The Walt Disney Company (DIS) | Equity | 0% | 2,031,665 | 1.78% | $98.70 | $113.60 | $200,525,336 | $230,797,144 | +$30,271,808 | +15.10% |
| Dollar General Corp. (DG) | Equity | +4.01% | 869,250 | 0.68% | $87.93 | $112.57 | $76,433,152 | $97,851,473 | +$21,418,320 | +28.02% |
| Domino's Pizza Inc. (DPZ) | Equity | 0% | 5,500 | 0.02% | $459.45 | $464.53 | $2,526,975 | $2,554,915 | +$27,940 | +1.11% |
| Eagle Materials Inc. (EXP) | Equity | +100% | 3,500 | 0.01% | $221.93 | $201.32 | $776,755 | $704,620 | -$72,135 | -9.29% |
| General Dynamics Corp. (GD) | Equity | 0% | 391,000 | 0.95% | $272.58 | $276.04 | $106,578,781 | $107,931,640 | +$1,352,859 | +1.27% |
| The Goldman Sachs Group Inc. (GS) | Equity | 0% | 359,360 | 1.74% | $546.29 | $603.83 | $196,314,775 | $216,992,349 | +$20,677,574 | +10.53% |
| Hagerty Inc. (HGTY) | Equity | 0% | 3,108,000 | 0.25% | $9.04 | $10.00 | $28,096,320 | $31,080,000 | +$2,983,680 | +10.62% |
| Hexcel Corp. (HXL) | Equity | 0% | 189,000 | 0.09% | $54.76 | $55.66 | $10,349,640 | $10,519,740 | +$170,100 | +1.64% |
| The Home Depot Inc. (HD) | Equity | 0% | 920,000 | 2.99% | $366.49 | $373.08 | $337,170,801 | $343,233,600 | +$6,062,799 | +1.80% |
| Insperity Inc. (NSP) | Equity | 0% | 131,728 | 0.10% | $89.23 | $63.77 | $11,754,089 | $8,400,295 | -$3,353,794 | -28.53% |
| Intercontinental Exchange Inc. (ICE) | Equity | 0% | 5,120 | 0.01% | $172.50 | $179.34 | $883,200 | $918,221 | +$35,021 | +3.97% |
| Intuit Inc. (INTU) | Equity | 0% | 2,720 | 0.01% | $613.99 | $764.66 | $1,670,053 | $2,079,875 | +$409,822 | +24.54% |
| Lamar Advertising Company (LAMR) | Equity | +10.48% | 137,000 | 0.14% | $113.78 | $121.30 | $15,587,860 | $16,618,100 | +$1,030,240 | +6.61% |
| The Estée Lauder Companies Inc. (EL) | Equity | 0% | 15,000 | 0.01% | $66.00 | $68.93 | $990,000 | $1,033,950 | +$43,950 | +4.44% |
| Linde PLC (LIN) | Equity | +7.74% | 181,000 | 0.75% | $465.64 | $471.82 | $84,280,840 | $85,399,420 | +$1,118,580 | +1.33% |
| Lockheed Martin Corp. (LMT) | Equity | +9.05% | 61,463 | 0.24% | $446.71 | $480.17 | $27,456,137 | $29,512,689 | +$2,056,552 | +7.49% |
| Lowe'S Companies Inc. (LOW) | Equity | +0.96% | 708,230 | 1.47% | $233.23 | $230.77 | $165,180,482 | $163,438,237 | -$1,742,245 | -1.05% |
| Lpl Financial Holdings Inc. (LPLA) | Equity | +1.26% | 539,104 | 1.57% | $327.14 | $386.01 | $176,362,483 | $208,099,535 | +$31,737,052 | +18.00% |
| Marriott International Inc. (MAR) | Equity | +10.64% | 52,000 | 0.11% | $238.20 | $264.40 | $12,386,400 | $13,748,800 | +$1,362,400 | +11.00% |
| Marsh & Mclennan Companies Inc. (MMC) | Equity | +1.09% | 743,500 | 1.61% | $244.03 | $234.86 | $181,436,306 | $174,618,410 | -$6,817,896 | -3.76% |
| Mastercard Inc. (MA) | Equity | 0% | 207,540 | 1.01% | $548.12 | $581.97 | $113,756,824 | $120,782,054 | +$7,025,230 | +6.18% |
| Meta Platforms Inc. (META) | Equity | +0.61% | 280,081 | 1.43% | $576.36 | $666.85 | $161,427,486 | $186,772,015 | +$25,344,529 | +15.70% |
| MGM Resorts International (MGM) | Equity | +113.75% | 85,500 | 0.02% | $29.64 | $31.96 | $2,534,220 | $2,732,580 | +$198,360 | +7.83% |
| Microsoft Corp. (MSFT) | Equity | +0.63% | 522,730 | 1.74% | $375.39 | $462.97 | $196,227,615 | $242,008,308 | +$45,780,693 | +23.33% |
| Moody's Corp. (MCO) | Equity | 0% | 213,890 | 0.88% | $465.69 | $482.07 | $99,606,435 | $103,109,952 | +$3,503,517 | +3.52% |
| MSCI Inc. (MSCI) | Equity | 0% | 142,850 | 0.72% | $565.50 | $566.41 | $80,781,675 | $80,911,669 | +$129,994 | +0.16% |
| Nike Inc. (NKE) | Equity | +3.01% | 445,400 | 0.25% | $63.48 | $62.37 | $28,273,992 | $27,779,598 | -$494,394 | -1.75% |
| Norfolk Southern Corp. (NSC) | Equity | 0% | 229,500 | 0.48% | $236.85 | $247.98 | $54,357,075 | $56,911,410 | +$2,554,335 | +4.70% |
| Novo Nordisk As (NVO) | Equity | 0% | 2,150,000 | 1.33% | $69.44 | $70.91 | $149,296,000 | $152,456,500 | +$3,160,500 | +2.12% |
| NVR Inc. (NVR) | Equity | +0.59% | 11,884 | 0.76% | $7,244.39 | $7,068.94 | $86,092,330 | $84,007,283 | -$2,085,047 | -2.42% |
| Renaissancere Holdings Ltd. (RNR) | Equity | 0% | 70,000 | 0.15% | $240.00 | $250.92 | $16,800,000 | $17,564,400 | +$764,400 | +4.55% |
| Rockwell Automation Inc. (ROK) | Equity | 0% | 154,900 | 0.36% | $258.38 | $316.62 | $40,023,062 | $49,044,438 | +$9,021,376 | +22.54% |
| Rollins Inc. (ROL) | Equity | 0% | 1,462,275 | 0.70% | $54.03 | $58.34 | $79,006,720 | $85,309,124 | +$6,302,404 | +7.98% |
| RTX Corp. (RTX) | Equity | 0% | 224,000 | 0.26% | $132.46 | $137.50 | $29,671,040 | $30,800,000 | +$1,128,960 | +3.80% |
| S&P Global Inc. (SPGI) | Equity | 0% | 150,690 | 0.68% | $508.10 | $512.30 | $76,565,589 | $77,198,487 | +$632,898 | +0.83% |
| The Charles Schwab Corp. (SCHW) | Equity | +0.07% | 1,364,800 | 0.95% | $78.28 | $88.00 | $106,836,544 | $120,102,400 | +$13,265,856 | +12.42% |
| Sei Investments Company (SEIC) | Equity | 0% | 173,200 | 0.12% | $77.63 | $84.97 | $13,445,516 | $14,716,804 | +$1,271,288 | +9.46% |
| The Sherwin-Williams Company (SHW) | Equity | 0% | 94,172 | 0.29% | $349.19 | $357.76 | $32,883,921 | $33,690,975 | +$807,054 | +2.45% |
| Shopify Inc. (SHOP) | Equity | 0% | 102,750 | 0.09% | $95.48 | $105.11 | $9,810,570 | $10,800,053 | +$989,483 | +10.09% |
| Sony Group Corp. (SONY) | Equity | 0% | 335,000 | 0.08% | $25.39 | $26.77 | $8,505,650 | $8,967,950 | +$462,300 | +5.44% |
| Spotify Technology S.A. (SPOT) | Equity | 0% | 25,900 | 0.13% | $550.03 | $671.07 | $14,245,777 | $17,380,713 | +$3,134,936 | +22.01% |
| Starbucks Corp. (SBUX) | Equity | +1.05% | 623,818 | 0.54% | $98.09 | $86.60 | $61,190,307 | $54,022,639 | -$7,167,668 | -11.71% |
| Sysco Corp. (SYY) | Equity | +100% | 9,000 | 0.01% | $75.04 | $73.63 | $675,360 | $662,670 | -$12,690 | -1.88% |
| Target Corp. (TGT) | Equity | 0% | 133,000 | 0.12% | $104.36 | $95.78 | $13,879,880 | $12,738,740 | -$1,141,140 | -8.22% |
| Texas Instruments Inc. (TXN) | Equity | 0% | 724,000 | 1.16% | $179.70 | $188.08 | $130,102,801 | $136,169,920 | +$6,067,119 | +4.66% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | +9.49% | 45,000 | 0.20% | $497.60 | $399.93 | $22,392,000 | $17,996,850 | -$4,395,150 | -19.63% |
| Transunion (TRU) | Equity | 0% | 101,050 | 0.07% | $82.99 | $85.20 | $8,386,140 | $8,609,460 | +$223,320 | +2.66% |
| Watsco Inc. (WSO) | Equity | 0% | 590,500 | 2.67% | $508.30 | $444.90 | $300,151,150 | $262,713,450 | -$37,437,700 | -12.47% |
| Wells Fargo & Company (WFC) | Equity | 0% | 204,450 | 0.13% | $71.79 | $75.65 | $14,677,466 | $15,466,643 | +$789,177 | +5.38% |
| Willis Towers Watson Public Limited Company (WTW) | Equity | 0% | 8,627 | 0.03% | $337.95 | $313.78 | $2,915,495 | $2,706,980 | -$208,515 | -7.15% |
| Yum! Brands Inc. (YUM) | Equity | +9.71% | 225,451 | 0.32% | $157.36 | $143.97 | $35,476,970 | $32,458,180 | -$3,018,790 | -8.51% |
| KKR & Co. Inc. (KKR) | Equity | 0% | 1,451,800 | 1.49% | $115.61 | $120.48 | $167,842,599 | $174,912,864 | +$7,070,265 | +4.21% |
| O-I Glass Inc. (OI) | Equity | +6.07% | 874,100 | 0.09% | $11.47 | $12.95 | $10,025,927 | $11,319,595 | +$1,293,668 | +12.90% |
| Old Dominion Freight Line Inc. (ODFL) | Equity | +4.16% | 313,200 | 0.46% | $165.45 | $163.03 | $51,818,940 | $51,060,996 | -$757,944 | -1.46% |
| Otis Worldwide Corp. (OTIS) | Equity | 0% | 114,620 | 0.11% | $103.20 | $96.99 | $11,828,784 | $11,116,994 | -$711,790 | -6.02% |
| Paychex Inc. (PAYX) | Equity | 0% | 150,000 | 0.21% | $154.28 | $158.25 | $23,142,000 | $23,737,500 | +$595,500 | +2.57% |
| Pepsico Inc. (PEP) | Equity | 0% | 96,210 | 0.13% | $149.94 | $131.85 | $14,425,727 | $12,685,289 | -$1,740,439 | -12.06% |
| Philip Morris International Inc. (PM) | Equity | 0% | 114,500 | 0.16% | $158.73 | $182.37 | $18,174,585 | $20,881,365 | +$2,706,780 | +14.89% |
| T. Rowe Price Group Inc. (TROW) | Equity | 0% | 314,000 | 0.26% | $91.87 | $93.58 | $28,847,181 | $29,384,120 | +$536,939 | +1.86% |
| The Progressive Corp. (PGR) | Equity | 0% | 753,750 | 1.89% | $283.01 | $287.25 | $213,318,787 | $216,514,688 | +$3,195,900 | +1.50% |
| Rli Corp. (RLI) | Equity | +100% | 2,394,544 | 1.71% | $80.33 | $76.63 | $192,353,719 | $183,493,907 | -$8,859,812 | -4.61% |
| The Scotts Miracle-Gro Company (SMG) | Equity | 0% | 168,000 | 0.08% | $54.89 | $57.62 | $9,221,521 | $9,680,160 | +$458,639 | +4.97% |
| Tyson Foods Inc. (TSN) | Equity | 0% | 798,500 | 0.45% | $63.81 | $55.79 | $50,952,285 | $44,548,315 | -$6,403,970 | -12.57% |
| Uber Technologies Inc. (UBER) | Equity | +11.93% | 122,000 | 0.08% | $72.86 | $82.53 | $8,888,920 | $10,068,660 | +$1,179,740 | +13.27% |
| Union Pacific Corp. (UNP) | Equity | 0% | 85,778 | 0.18% | $236.24 | $221.78 | $20,264,195 | $19,023,845 | -$1,240,350 | -6.12% |
| United Rentals Inc. (URI) | Equity | +5.06% | 31,150 | 0.17% | $626.70 | $702.89 | $19,521,705 | $21,895,024 | +$2,373,319 | +12.16% |
| UnitedHealth Group Inc. (UNH) | Equity | +4.87% | 28,014 | 0.13% | $523.75 | $301.22 | $14,672,334 | $8,438,377 | -$6,233,957 | -42.49% |
| Verisk Analytics Inc. (VRSK) | Equity | 0% | 155,950 | 0.41% | $297.62 | $313.10 | $46,413,839 | $48,827,945 | +$2,414,106 | +5.20% |
| Visa Inc. (V) | Equity | 0% | 999,285 | 3.11% | $350.46 | $365.86 | $350,209,421 | $365,598,410 | +$15,388,989 | +4.39% |