13F-HR 1 w35098e13fvhr.txt FORM 13F 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, 2007 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: Julie Stapel Title: General Counsel Phone: (202) 828-6200 Signature, Place, and Date of Signing: /s/ Julie Stapel Washington DC 5/14/07 --------------------------------- ---------------------- ------- [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 March 31, 2007
VOTING AUTHORITY -------------------- VALUE SHARES/ SH/ PUT/ INVSTMT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ -------------- ----- -------- ------- --- ---- ------- -------- ------- ------ ---- American Express Company COM 025816109 7355 130400 SH Sole 130400 Berkshire Hathaway Class A COM 084670108 28337 260 SH Sole 260 Berkshire Hathaway Class B COM 084670207 42087 11562 SH Sole 11562 Citigroup COM 172967101 102872 2003748 SH Sole 2003748 Fannie Mae COM 313586109 2170 39752 SH Sole 39752 Freddie Mac COM 313400301 9904 166490 SH Sole 166490 General Electric Company COM 369604103 637 18008 SH Sole 18008 HomeFed Corp COM 43739D307 1708 28002 SH Sole 28002 Johnson & Johnson COM 478160104 9668 160437 SH Sole 160437 Legg Mason Inc COM 524901105 41270 438069 SH Sole 438069 Leucadia National Corporation COM 527288104 43243 1469848 SH Sole 1469848 MDC Holdings COM 552676108 40865 850105 SH Sole 850105 Martin Marietta Materials COM 573284106 93214 689452 SH Sole 689452 Merrill Lynch & Co., Inc. COM 590188108 3556 43540 SH Sole 43540 Microsoft Corporation COM 594918104 450 16164 SH Sole 16164 Mohawk Industries COM 608190104 108979 1328208 SH Sole 1328208 Montpelier Re Holdings Ltd COM G62185106 15642 902098 SH Sole 902098 Nike Inc Cl B COM 654106103 323 3040 SH Sole 3040 Odyssey Re Holdings COM 67612W108 156533 3982018 SH Sole 3982018 Old Republic Int'l Corp COM 1078 48721 SH Sole 48721 PepsiCo, Inc. COM 713448108 222 3500 SH Sole 3500 Pfizer Inc. COM 717081103 4985 197355 SH Sole 197355 State Street Corp COM 857477103 712 11000 SH Sole 11000 Student Loan Corp COM 863902102 392 2106 SH Sole 2106 Toll Brothers Inc. COM 889478103 71716 2619275 SH Sole 2619275 Wal-Mart Stores, Inc. COM 931142103 83365 1775620 SH Sole 1775620 Washington Post Co Cl B COM 939640108 3208 4202 SH Sole 4202 Wells Fargo & Company COM 949746101 64845 1883380 SH Sole 1883380 White Mountains Insurance Group COM G9618E107 125460 221466 SH Sole 221466 YUM! Brands Inc COM 988498101 108866 1884798 SH Sole 1884798 REPORT SUMMARY 30 DATA RECORDS 1173665 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED