13F-HR 1 d438569d13fhr.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: September 30, 2012 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: Olayinka Odeniran Title: CCO Phone: 202-828-6200 Signature, Place, and Date of Signing: /s/ Olayinka Odeniran Washington, DC 11-12-12 ---------------------------------- --------------------- ---------------- [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 30-Sep-12
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 ------------------------------ -------------- ------------ -------- ------- --- ---- ------- -------- ---------- ------ ------ Arch Capital Group Ltd COM G0450A105 94180 2261764 SH Sole 2097592 164172 Berkshire Hathaway Class A COM 084670108 17516 132 SH Sole 125 7 Berkshire Hathaway Class B COM 084670702 29802 337895 SH Sole 322499 15396 Brown & Brown, Inc. COM 115236101 92195 3536439 SH Sole 3303641 232798 C.H. Robinson Worldwide Inc. COM 12541W209 34798 594021 SH Sole 540039 53982 Capital Source Inc COM 14055X102 35560 4691338 SH Sole 4358006 333332 Devon Energy Corp COM 25179M103 22007 363747 SH Sole 332969 30778 Expeditors International of Wa COM 302130109 27900 767539 SH Sole 711973 55566 Fairfax Financial Hldgs LTD COM 303901102 101748 263031 SH Sole 246039 16992 Fastenal Co COM 311900104 36787 855708 SH Sole 780706 75002 Goldman Sachs Group Inc COM 38141G104 58283 512698 SH Sole 477397 35301 HomeFed Corp COM 43739D307 508 18455 SH Sole 18455 Leucadia National Corporation COM 527288104 55901 2457195 SH Sole 2280002 177193 Martin Marietta Materials COM 573284106 46318 558923 SH Sole 522613 36310 Mastercard Inc Class A COM 57636Q104 27550 61021 SH Sole 57724 3297 Mc Donald's Corporation COM 580135101 9553 104120 SH Sole 94667 9453 Moody's Corp. COM 615369105 61091 1383084 SH Sole 1277438 105646 NVR Inc. COM 62944T105 45861 54305 SH Sole 49226 5079 Symetra Financial Corp COM 87151Q106 3867 314408 SH Sole 306099 8309 Toll Brothers Inc COM 889478103 76635 2306202 SH Sole 2149809 156393 US Bancorp COM 902973304 55788 1626469 SH Sole 1515931 110538 Union Pacific Corporation COM 907818108 19767 166531 SH Sole 155581 10950 Visa Inc Cl A COM 92826C839 11484 85521 SH Sole 75890 9631 Waters Corp COM 941848103 13293 159525 SH Sole 154878 4647 Wells Fargo & Company COM 949746101 108945 3155071 SH Sole 2940641 214430 YUM! Brands Inc COM 988498101 91930 1385747 SH Sole 1305611 80136 REPORT SUMMARY 26 DATA RECORDS 1179267 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED