CIK 1234074
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Unclassified | 47.47% | 5 |
| Airlines | 35.54% | 1 |
| Machinery | 2.77% | 6 |
| Banks | 2.11% | 6 |
| Pharmaceuticals & Biotechnology | 1.66% | 2 |
| Software & IT Services | 1.18% | 2 |
| Distributors | 0.97% | 2 |
| Insurance | 0.95% | 1 |
| Transportation Infrastructure | 0.87% | 1 |
| Oil, Gas & Consumable Fuels | 0.77% | 1 |
| Entertainment | 0.75% | 1 |
| Specialty Retail | 0.68% | 1 |
| Capital Markets | 0.68% | 1 |
| Automobiles & Components | 0.66% | 1 |
| Communications Equipment | 0.65% | 1 |
| Commercial Services & Supplies | 0.52% | 1 |
| Construction Materials | 0.51% | 1 |
| Chemicals | 0.42% | 1 |
| Health Care Equipment & Supplies | 0.39% | 1 |
| Software | 0.25% | 1 |
| Life Sciences Tools & Services | 0.11% | 1 |
| Technology Hardware & Equipment | 0.05% | 2 |
| Electrical Equipment & Components | 0.04% | 1 |
| Road & Rail | 0.02% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | RYAAY | Ryanair Holdings PLC | Industrials | 35.54% |
| 2 | CPA | COPA HOLDINGS SA | Unclassified | 30.88% |
| 3 | SSNHZ | Samsung Electronics Co., Ltd. Sponsored GDR | Unclassified | 14.69% |
| 4 | DCI | DONALDSON Co INC | Industrials | 0.99% |
| 5 | MKL | MARKEL GROUP INC. | Financials | 0.95% |
| 6 | HSIC | HENRY SCHEIN INC | Consumer Discretionary | 0.94% |
| 7 | CHRW | C. H. ROBINSON WORLDWIDE, INC. | Industrials | 0.87% |
| 8 | GILD | GILEAD SCIENCES, INC. | Health Care | 0.85% |
| 9 | SNA | Snap-on Inc | Industrials | 0.84% |
| 10 | JNJ | JOHNSON & JOHNSON | Health Care | 0.81% |
39/42 names classified · sector 53.9% of weight · industry 52.5% · mkt cap 18.4%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 53.9% of the book is sector-classified (unclassified names shown, never dropped).
Only 18% of book weight classified — the grid is NOT representative of the whole book.
Classified: 17.7% of book weight (37/42 names) · unclassified 82.3%: RYAAY, CPA, SSNHZ, BRK.B, SBKFF. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | RYAAYRYANAIR HOLDINGS PLC | 3,843,067 | $222M | 35.5% | TRIM −15% |
| 2 | CPACOPA HOLDINGS SA | 1,699,010 | $193M | 30.9% | TRIM −11% |
| 3 | SSNHZSamsung Electronics Co., Ltd. Sponsored GDR | 32,382 | $92M | 14.7% | TRIM −42% |
| 4 | DCIDONALDSON INC | 72,604 | $6M | 1.0% | TRIM −22% |
| 5 | MKLMARKEL GROUP INC | 3,088 | $6M | 0.9% | TRIM −19% |
| 6 | HSICHENRY SCHEIN INC | 80,127 | $6M | 0.9% | TRIM −19% |
| 7 | CHRWC H ROBINSON WORLDWIDE INC | 32,612 | $5M | 0.9% | TRIM −38% |
| 8 | GILDGILEAD SCIENCES INC | 37,900 | $5M | 0.8% | TRIM −37% |
| 9 | SNASNAP ON INC | 14,500 | $5M | 0.8% | TRIM −16% |
| 10 | JNJJOHNSON & JOHNSON | 20,800 | $5M | 0.8% | TRIM −24% |
| 11 | WFCWELLS FARGO CO NEW | 62,520 | $5M | 0.8% | TRIM −23% |
| 12 | XOMEXXON MOBIL CORP | 28,369 | $5M | 0.8% | TRIM −27% |
| 13 | GOOGLALPHABET INC | 16,284 | $5M | 0.7% | TRIM −20% |
| 14 | DISDISNEY WALT CO | 48,541 | $5M | 0.7% | TRIM −15% |
| 15 | CFRCULLEN FROST BANKERS INC | 32,708 | $4M | 0.7% | TRIM −20% |
| 16 | BF.BBROWN FORMAN CORP | 165,200 | $4M | 0.7% | TRIM −14% |
| 17 | BRK.BBERKSHIRE HATHAWAY INC DEL | 8,996 | $4M | 0.7% | TRIM −30% |
| 18 | DGDOLLAR GEN CORP | 36,029 | $4M | 0.7% | TRIM −11% |
| 19 | TROWPRICE T ROWE GROUP INC | 46,870 | $4M | 0.7% | TRIM −19% |
| 20 | GNTXGENTEX CORP | 188,734 | $4M | 0.7% | TRIM −15% |
| 21 | QCOMQUALCOMM INC | 31,329 | $4M | 0.6% | TRIM −12% |
| 22 | AXPAMERICAN EXPRESS CO | 10,953 | $3M | 0.5% | TRIM −20% |
| 23 | ACNACCENTURE PLC IRELAND | 16,436 | $3M | 0.5% | ADD 30% |
| 24 | EXPEAGLE MATLS INC | 16,837 | $3M | 0.5% | ADD 36% |
| 25 | SBKFFSTATE BK OF INDIA | 29,590 | $3M | 0.5% | TRIM −68% |
| 26 | TTCTORO CO | 30,810 | $3M | 0.5% | TRIM −3% |
| 27 | XPELXPEL INC | 64,800 | $3M | 0.5% | HOLD |
| 28 | METAMETA PLATFORMS INC | 4,705 | $3M | 0.4% | TRIM −25% |
| 29 | NKENIKE INC | 50,200 | $3M | 0.4% | NEW |
| 30 | BDXBECTON DICKINSON & CO | 15,600 | $2M | 0.4% | TRIM −16% |
| 31 | MSFTMICROSOFT CORP | 4,160 | $2M | 0.2% | NEW |
| 32 | WATWATERS CORP | 2,204 | $656,351 | 0.1% | NEW |
| 33 | LFUSLITTELFUSE INC | 700 | $237,545 | 0.0% | HOLD |
| 34 | BOKFBOK FINL CORP | 1,400 | $179,284 | 0.0% | HOLD |
| 35 | CGNXCOGNEX CORP | 3,200 | $156,768 | 0.0% | HOLD |
| 36 | WAFDWAFD INC | 4,200 | $131,880 | 0.0% | HOLD |
| 37 | AYIACUITY INC | 470 | $131,703 | 0.0% | HOLD |
| 38 | MSMMSC INDL DIRECT INC | 1,400 | $129,178 | 0.0% | TRIM −98% |
| 39 | LSTRLANDSTAR SYS INC | 800 | $128,248 | 0.0% | HOLD |
| 40 | AXAXOS FINANCIAL INC | 1,400 | $119,126 | 0.0% | HOLD |
| 41 | SSDSIMPSON MFG INC | 500 | $85,810 | 0.0% | HOLD |
| 42 | GGGGRACO INC | 900 | $76,185 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| RYAAYRYANAIR HOLDINGS PLC | 8.5M | 7.4M | 6.0M | 5.3M | 4.5M | 3.8M | $222M |
| CPACOPA HOLDINGS SA | 3.3M | 3.1M | 2.5M | 2.3M | 1.9M | 1.7M | $193M |
| SSNHZSamsung Electronics Co., Ltd. Sponsored GDR | 203K | 205K | 167K | 152K | 56K | 32K | $92M |
| DCIDONALDSON INC | 307K | 276K | 276K | 259K | 93K | 73K | $6M |
| MKLMARKEL GROUP INC | 18K | 13K | 12K | 11K | 4K | 3K | $6M |
| HSICHENRY SCHEIN INC | 409K | 300K | 298K | 278K | 99K | 80K | $6M |
| CHRWC H ROBINSON WORLDWIDE INC | 188K | 154K | 153K | 152K | 53K | 33K | $5M |
| GILDGILEAD SCIENCES INC | 269K | 202K | 186K | 167K | 60K | 38K | $5M |
| SNASNAP ON INC | 22K | 42K | 47K | 49K | 17K | 15K | $5M |
| JNJJOHNSON & JOHNSON | 109K | 83K | 82K | 77K | 27K | 21K | $5M |
| WFCWELLS FARGO CO NEW | 308K | 228K | 256K | 231K | 81K | 63K | $5M |
| XOMEXXON MOBIL CORP | 30K | 100K | 103K | 109K | 39K | 28K | $5M |
| GOOGLALPHABET INC | 22K | 60K | 63K | 67K | 20K | 16K | $5M |
| DISDISNEY WALT CO | 242K | 184K | 178K | 158K | 57K | 49K | $5M |
| CFRCULLEN FROST BANKERS INC | 164K | 127K | 126K | 114K | 41K | 33K | $4M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Where this firm's principals came from and which firms its alumni went on to found.
