Equal-WT
WhaleScore 2.0
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Marshfield Associates is based out of Washington. Marshfield Associates is a large advisory firm with 4384 clients and discretionary assets under management (AUM) of $7,474,545,945 (Form ADV from 2025-05-27). Their last reported 13F filing for Q1 2025 included $4,615,810,240 in managed 13F securities
and a top 10 holdings concentration of 78.14%. Marshfield Associates's largest holding is AutoZone Inc with shares held of 169,809. Whalewisdom has at least 114 13F filings, and 19 13G filings
Business Description
Marshfield Associates, Inc. is an investment advisory firm. They have a research team whose decision-makers are also principals. Marshfield does not provide any proprietary products for investment by clients.
Marshfield's senior research partners, including Chris Niemczewski, Elise Hoffmann, Chad Goldberg, and Judy Becker, collectively oversee risk management at the portfolio level. Brian Walker is Marshfield's Chief Compliance Officer, responsible for the oversight and implementation of all compliance functions.
Investment Strategy
Based on the provided documents, Marshfield's core investment philosophy and discipline were influenced by the Graham and Dodd School of security analysis and investing. The research team, which includes principals, formulates and guides this investment philosophy. They conduct research and focus on long-term strategic firm planning.
Marshfield confirms that investment decisions made by the research team are being implemented correctly and in accordance with Marshfield’s policies and procedures through periodic compliance-related checks. Chris Niemczewski, Elise Hoffmann, Chad Goldberg, and Judy Becker, Marshfield's senior research partners, collectively oversee risk management at the portfolio level, helping to ensure that the research team adheres to Marshfield's investment philosophy and process.
Owners
- CHRISTOPHER M. NIEMCZEWSKI REVOCABLE TRUST U/A DTD JUNE 6, 2014 ("CN REVOCABLE TRUST") - SHAREHOLDER
- MILLER, CAROLYN, SUE - PRINCIPAL
- NIEMCZEWSKI, CHRISTOPHER, MARTIN - PRINCIPAL AND TRUSTEE OF THE CN REVOCABLE TRUST
- WALKER, BRIAN, EDWARD - GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER
- HOFFMANN, ELISE, JORDAN - PRINCIPAL AND TRUSTEE OF THE EH REVOCABLE TRUST
- VINICK, MELISSA - PRINCIPAL
- STOTT, WILLIAM, GILMORE - PRINCIPAL
- GOLDBERG, CHAD, ANDREW - PRINCIPAL AND TRUSTEE OF THE CG REVOCABLE TRUST
- SMITH, JARRON, HAMPTON - CHIEF OPERATING OFFICER
- BECKER, JUDITH, GOLDEN - PRINCIPAL Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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2025-03-31
Top Buys (13F)
| Name | % Change |
|---|---|
| PGR Progressive Corp | 1.21% |
| V VISA Inc | 0.75% |
| DPZ Dominos Pizza Inc | 0.63% |
| EXPD Expeditors Internati | 0.41% |
| MA Mastercard Inc | 0.33% |
2025-03-31
Top Sells (13F)
| Name | % Change |
|---|---|
| TJX TJX Companies Inc | 2.99% |
| ROST Ross Stores, Inc. | 2.02% |
| BIL SPDR Bloomberg 1-3 M | 0% |
2025-03-31
13F Holdings Summary
| Name | $ Change |
|---|---|
| AZO AutoZone Inc | 14.03% |
| ROST Ross Stores, Inc. | 10.81% |
| ORLY O`Reilly Automotive, | 8.94% |
| V VISA Inc | 7.14% |
| DPZ Dominos Pizza Inc | 7.14% |
2025-03-31
13F Activity
| Market Value | $4.62b, Prior: $4.61b |
| Inflows (Outflows) as % of Total MV | (-2.9635)% |
| New Purchases | 0 stocks |
| Added To | 11 stocks |
| Sold out of | 0 stocks |
| Reduced holdings in | 6 stocks |
| Top 10 Holdings % | 78.14% |
| Turnover %[1] | 0% |
| Turnover Alt %[2] | 0.72% |
| Time Held Top 20 | 33.7778 quarters |
| Time Held Top 10 | 16.9 quarters |
| Time Held All | 35.94 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2025-03-31
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2025-03-31
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2025-03-31