13F-HR 1 w82863e13fvhr.txt FORM 13F-HR ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 Check here if Amendment [ ]; Amendment Number: _______ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Marshfield Associates Address: 21 Dupont Circle, NW Suite 500 Washington, DC 20036 Form 13F File Number: 28- 03998 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Kim Vinick Title: CCO Phone: (202) 828-6200 Signature, Place, and Date of Signing: (GRAPHIC) Washington, DC 5/13/2011 [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28- ---------- -------------------------- [Repeat as necessary.] ================================================================================ Marshfield Associates FORM 13F 31-Mar-11
Voting Authority ----------------- Title of Value Shares/ Sh/ Put/ Invstmt Other Name of Issuer class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None ----------------------------- ------- --------- ------- ------- --- ---- ------- -------- ------- ------ ------ Arch Capital Group Ltd COM G0450A105 61742 622463 SH Sole 577070 45393 Assured Guaranty Ltd COM G0585R106 16202 1087415 SH Sole 998270 89145 Berkshire Hathaway Class A COM 084670108 16038 128 SH Sole 121 7 Berkshire Hathaway Class B COM 084670702 28443 340106 SH Sole 323936 16170 Brown & Brown, Inc. COM 115236101 86626 3357612 SH Sole 3115648 241964 Capital Source Inc COM 14055X102 13380 1900541 SH Sole 1691264 209277 Devon Energy Corp COM 25179M103 13680 149072 SH Sole 137797 11275 Fairfax Financial Hldgs LTD COM 303901102 149014 394415 SH Sole 362505 31910 Fastenal Co COM 311900104 32398 499741 SH Sole 459420 40321 Goldman Sachs Group Inc COM 38141G104 58828 370918 SH Sole 340970 29948 HomeFed Corp COM 43739D307 577 21386 SH Sole 21386 J.P. Morgan Chase & Co. COM 46625H100 18118 393012 SH Sole 363879 29133 Leucadia National Corporation COM 527288104 76747 2044394 SH Sole 1885022 159372 Martin Marietta Materials COM 573284106 44118 492006 SH Sole 475942 16064 Mc Donald's Corporation COM 580135101 9182 120668 SH Sole 110511 10157 Moody's Corp. COM 615369105 32270 951638 SH Sole 891071 60567 NVR Inc. COM 62944T105 45948 60778 SH Sole 55223 5555 Symetra Financial Corp COM 87151Q106 14846 1091632 SH Sole 1015497 76135 Sysco Corp COM 871829107 8696 313924 SH Sole 288967 24957 Toll Brothers Inc COM 889478103 41045 2076106 SH Sole 1921820 154286 US Bancorp COM 902973304 36395 1377051 SH Sole 1275197 101854 Verisk Analytics Inc Class A COM 92345Y106 298 9098 SH Sole 7886 1212 Vulcan Materials Co COM 929160109 55354 1213913 SH Sole 1133280 80633 Wells Fargo & Company COM 949746101 95723 3018704 SH Sole 2799867 218837 YUM! Brands Inc COM 988498101 110656 2153671 SH Sole 2031746 121925 REPORT SUMMARY 25 DATA RECORDS 1066325 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED