LS
	Lou Simpson 13F
	SQ Advisors, LLC

	Last update 2019-08-15	0 Stocks (0 new)
	Value $-	Turnover 0 %
	Countries: Top Holdings: SEC Filings

Lou Simpson Profile

Lou Simpson met Warren Buffett in 1996 when he was CEO of Geico's capital operations and Buffett was completing his purchase of Geico. Impressed with his track record, Buffett kept Simpson on as chief investment officer.
At his retirement from Berkshire subsidiary Geico in 2010, Simpson managed more than $4 billion worth of stocks. Throughout his time with Berkshire, Simpson and Buffett's stock picks overlapped sometimes due to similarities in their thinking, but both men clearly had independent processes and disagreed with each other sometimes as well.
Before joining GEICO in 1979 as senior vice president and chief investment officer, Simpson was president and CEO of Western Asset Management, a partner at Stein Roe and Farnham, and an economics instructor at Princeton University. Simpson’s SQ Advisors stopped managing outside money and converted to a family office after the second quarter of 2019.

Lou Simpson Investing Philosophy

Buffett frequently sang the praises of Lou Simpson. Once, in his 2004 investor letter, Buffett called him “a cinch to be inducted into the investment Hall of Fame” based on his return performance history. From 1980 to 2004, Simpson produced an average annual gain of 20.3%, compared to 13.5% for the S&P 500. In that time, he had only three negative years, and only four years of less than double-digit returns. In a rare interview in 2010, Simpson told the Chicago Tribune, "My approach is eclectic. I try to read all company documents carefully. We try to talk to competitors. We try to find people more knowledgeable about the business than we are. We do not rely on Wall Street-generated research. We do our own research. We try to meet with top management."

Lou Simpson Portfolio and Latest Trades

* When viewing the latest picks, trades are first grouped by date (with the most recent shown first) and then sorted within each date group based on the selected field.

* The transaction information on this page (share changes) is calculated by comparing the latest transaction with the most recent filing—13F, 13D/G, or Form 4—whichever is filed most recently. This may differ from the values shown on the Insider page.

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Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
LBRDK	Liberty Broadband Corp	2019-06-30	Sold Out Sold Out	-15.74%	● 91.98 ($98.55) 104.22	$33.36	-66.15%	Sold Out	0	-2,261,946
BN	Brookfield Asset Management Inc	2019-06-30	Sold Out Sold Out	-13.55%	● 16.48 ($17.04) 17.39	$42.03	146.65%	Sold Out	0	-3,828,355
ALSN	Allison Transmission Holdings Inc	2019-06-30	Sold Out Sold Out	-12.92%	● 41.39 ($45.31) 48.51	$115.44	154.78%	Sold Out	0	-3,790,722
CABO	Cable One Inc	2019-06-30	Sold Out Sold Out	-11.51%	● 988.72 ($1091.9) 1182.88	$39.56	-96.38%	Sold Out	0	-154,609
KMX	CarMax Inc	2019-06-30	Sold Out Sold Out	-11.33%	● 69.07 ($78.16) 86.86	$58.70	-24.90%	Sold Out	0	-2,138,822
AAPL	Apple Inc	2019-06-30	Sold Out Sold Out	-9.68%	● 43.33 ($48.7) 52.94	$333.43	584.66%	Sold Out	0	-672,007
SCHW	Charles Schwab Corp	2019-06-30	Sold Out Sold Out	-9.57%	● 39.15 ($43.61) 46.26	$104.33	139.23%	Sold Out	0	-2,949,418
TYL	Tyler Technologies Inc	2019-06-30	Sold Out Sold Out	-6.05%	● 206.87 ($216.93) 231.91	$323.31	49.04%	Sold Out	0	-390,263
ST	Sensata Technologies Holding PLC	2019-06-30	Sold Out Sold Out	-5.67%	● 42.69 ($47.61) 51.79	$47.99	0.80%	Sold Out	0	-1,661,297
BRK.B	Berkshire Hathaway Inc	2019-06-30	Sold Out Sold Out	-3.97%	● 197.42 ($206.89) 218.6	$509.68	146.35%	Sold Out	0	-260,282
ALSN	Allison Transmission Holdings Inc	2019-03-31	Reduce Reduce	-7.55%	● 43.24 ($47.49) 51.69	$115.44	143.08%	Reduce -54.3%	3,790,722	-4,503,293
LBRDK	Liberty Broadband Corp	2019-03-31	Reduce Reduce	-7.46%	● 72.03 ($84.79) 94.34	$33.36	-60.66%	Reduce -54.53%	2,261,946	-2,712,748
BN	Brookfield Asset Management Inc	2019-03-31	Reduce Reduce	-6.66%	● 13.62 ($15.69) 16.77	$42.03	167.88%	Reduce -54.31%	8,613,799	-4,551,100
ST	Sensata Technologies Holding PLC	2019-03-31	Reduce Reduce	-6.36%	● 43.51 ($47.43) 51.1	$47.99	1.18%	Reduce -69.11%	1,661,297	-3,717,402
CABO	Cable One Inc	2019-03-31	Reduce Reduce	-5.92%	● 803.24 ($905.69) 985.99	$39.56	-95.63%	Reduce -55.01%	154,609	-189,029
KMX	CarMax Inc	2019-03-31	Reduce Reduce	-5.85%	● 58.38 ($61.66) 69.8	$58.70	-4.80%	Reduce -53.32%	2,138,822	-2,443,304
SCHW	Charles Schwab Corp	2019-03-31	Reduce Reduce	-5.21%	● 40.72 ($45.15) 47.98	$104.33	131.07%	Reduce -52.72%	2,949,418	-3,289,125
AAPL	Apple Inc	2019-03-31	Reduce Reduce	-4.60%	● 35.55 ($42.32) 48.77	$333.43	687.88%	Reduce -53.19%	2,688,028	-763,601
TYL	Tyler Technologies Inc	2019-03-31	Reduce Reduce	-2.97%	● 176.63 ($198.02) 216.04	$323.31	63.27%	Reduce -51.79%	390,263	-419,291
BRK.B	Berkshire Hathaway Inc	2019-03-31	Reduce Reduce	-2.93%	● 191.66 ($201.99) 209.19	$509.68	152.33%	Reduce -59.14%	260,282	-376,785
LBTYK	Liberty Global PLC	2018-12-31	Sold Out Sold Out	-5.30%	● 19.55 ($23.79) 27.45	$10.24	-56.96%	Sold Out	0	-6,104,893
ST	Sensata Technologies Holding PLC	2018-12-31	Add Add	+1.82%	● 41.17 ($45.16) 49.16	$47.99	6.27%	Add 24.7%	5,378,699	1,065,535
AAPL	Apple Inc	2018-12-31	Add Add	+1.56%	● 36.71 ($48.04) 58.02	$333.43	594.07%	Add 22.02%	5,742,432	259,053
SCHW	Charles Schwab Corp	2018-12-31	Add Add	+0.74%	● 38.25 ($45.02) 52.17	$104.33	131.74%	Add 8.09%	6,238,543	467,066
ALSN	Allison Transmission Holdings Inc	2018-12-31	Reduce Reduce	-0.61%	● 40.83 ($46.21) 53.37	$115.44	149.82%	Reduce -4.39%	8,294,015	-381,155
KMX	CarMax Inc	2018-12-31	Reduce Reduce	-0.57%	● 56.72 ($65.69) 73.51	$58.70	-10.64%	Reduce -5.13%	4,582,126	-247,601
LBRDK	Liberty Broadband Corp	2018-12-31	Reduce Reduce	-0.57%	● 68.9 ($79.92) 84.85	$33.36	-58.26%	Reduce -4.23%	4,974,694	-219,720
BN	Brookfield Asset Management Inc	2018-12-31	Reduce Reduce	-0.42%	● 13.18 ($15.02) 16.05	$42.03	179.83%	Reduce -3.52%	18,853,774	-305,550
BRK.B	Berkshire Hathaway Inc	2018-12-31	Reduce Reduce	-0.40%	● 187.76 ($208.51) 223.76	$509.68	144.44%	Reduce -8.71%	637,067	-60,807
CABO	Cable One Inc	2018-12-31	Reduce Reduce	-0.37%	● 774.1 ($865) 918.65	$39.56	-95.43%	Reduce -3.77%	343,638	-13,461
TYL	Tyler Technologies Inc	2018-12-31	Reduce Reduce	-0.26%	● 173.85 ($196.22) 237.23	$323.31	64.77%	Reduce -4.08%	809,554	-34,400
LBTYK	Liberty Global PLC	2018-09-30	Reduce Reduce	-2.80%	● 25.22 ($26.98) 28.51	$10.24	-62.05%	Reduce -33.74%	6,104,893	-3,109,101
LBRDK	Liberty Broadband Corp	2018-09-30	Add Add	+2.67%	● 74.19 ($79.69) 85.01	$33.36	-58.14%	Add 24.6%	5,194,414	1,025,677
KMX	CarMax Inc	2018-09-30	Reduce Reduce	-0.28%	● 72.39 ($76.27) 80.68	$58.70	-23.04%	Reduce -2.27%	4,829,727	-112,381
ALSN	Allison Transmission Holdings Inc	2018-09-30	Reduce Reduce	-0.25%	● 39.86 ($46.84) 53.44	$115.44	146.46%	Reduce -2.05%	8,675,170	-181,746
SCHW	Charles Schwab Corp	2018-09-30	Reduce Reduce	-0.20%	● 49.15 ($51.07) 54.22	$104.33	104.29%	Reduce -1.99%	5,771,477	-117,379
ST	Sensata Technologies Holding PLC	2018-09-30	Add Add	+0.20%	● 48.48 ($52.31) 55.83	$47.99	-8.26%	Add 3.2%	4,313,164	133,610
BRK.B	Berkshire Hathaway Inc	2018-09-30	Reduce Reduce	-0.18%	● 186.02 ($205.18) 221.68	$509.68	148.41%	Reduce -3.98%	697,874	-28,907
TYL	Tyler Technologies Inc	2018-09-30	Reduce Reduce	-0.17%	● 224.17 ($237.8) 250.8	$323.31	35.96%	Reduce -2.66%	843,954	-23,081
AAPL	Apple Inc	2018-09-30	Reduce Reduce	-0.17%	● 45.98 ($52.06) 57.09	$333.43	540.47%	Reduce -2.19%	4,706,220	-26,392
CABO	Cable One Inc	2018-09-30	Reduce Reduce	-0.15%	● 712.91 ($794.68) 894.46	$39.56	-95.02%	Reduce -1.65%	357,099	-6,002
BN	Brookfield Asset Management Inc	2018-09-30	Reduce Reduce	-0.14%	● 14.39 ($15.31) 16.01	$42.03	174.53%	Reduce -1.19%	19,541,261	-104,583
CHTR	Charter Communications Inc	2018-06-30	Sold Out Sold Out	-6.63%	● 261.87 ($287.77) 317.46	$142.00	-50.66%	Sold Out	0	-624,609
LBRDK	Liberty Broadband Corp	2018-06-30	Add Add	+6.60%	● 68.7 ($75.85) 84.47	$33.36	-56.02%	Add 161.15%	4,168,737	2,572,443
BRK.B	Berkshire Hathaway Inc	2018-06-30	Reduce Reduce	-0.48%	● 184.91 ($194.98) 201.2	$509.68	161.40%	Reduce -8.87%	726,781	-70,738
ST	Sensata Technologies Holding PLC	2018-06-30	Add Add	+0.48%	● 47.58 ($52.1) 54.42	$47.99	-7.89%	Add 7.73%	4,179,554	299,746
LBTYK	Liberty Global PLC	2018-06-30	Reduce Reduce	-0.37%	● 26.61 ($29.23) 32.05	$10.24	-64.97%	Reduce -3.75%	9,213,994	-359,202
SCHW	Charles Schwab Corp	2018-06-30	Reduce Reduce	-0.13%	● 50.11 ($55.39) 59.59	$104.33	88.36%	Reduce -1.19%	5,888,856	-70,678
TYL	Tyler Technologies Inc	2018-06-30	Reduce Reduce	-0.08%	● 204.33 ($224.8) 239.16	$323.31	43.82%	Reduce -1.3%	867,035	-11,432
BN	Brookfield Asset Management Inc	2018-06-30	Reduce Reduce	-0.07%	● 13.74 ($14.38) 15.11	$42.03	192.28%	Reduce -0.56%	19,776,573	-49,713
ALSN	Allison Transmission Holdings Inc	2018-06-30	Reduce Reduce	-0.06%	● 38.05 ($41.15) 44.35	$115.44	180.53%	Reduce -0.47%	8,856,916	-41,691
CABO	Cable One Inc	2018-06-30	Reduce Reduce	-0.04%	● 619 ($678.98) 738.5	$39.56	-94.17%	Reduce -0.5%	363,101	-1,815
SBAC	SBA Communications Corp	2018-06-30	Sold Out Sold Out	-0.03%	● 155.85 ($161.41) 171.69	$181.90	12.69%	Sold Out	0	-5,125
AXTA	Axalta Coating Systems Ltd	2018-06-30	Sold Out Sold Out	-0.03%	● 29.7 ($31.36) 32.65	$36.03	14.89%	Sold Out	0	-32,179
AAPL	Apple Inc	2018-06-30	Reduce Reduce	-0.03%	● 40.58 ($45.38) 48.5	$333.43	634.75%	Reduce -0.5%	4,811,788	-6,056
KMX	CarMax Inc	2018-06-30	Reduce Reduce	-0.01%	● 58.77 ($66.73) 80.19	$58.70	-12.03%	Reduce -0.12%	4,942,108	-6,093
HXL	Hexcel Corp	2018-06-30	Sold Out Sold Out	-0.01%	● 63.37 ($68.17) 73.26	$102.91	50.96%	Sold Out	0	-5,243
KMX	CarMax Inc	2018-03-31	New Buy New Buy	+10.45%	● 59.36 ($65.45) 72.42	$58.70	-10.31%	New holding	4,948,201	4,948,201
AXTA	Axalta Coating Systems Ltd	2018-03-31	Reduce Reduce	-8.03%	● 29.81 ($31.25) 32.91	$36.03	15.30%	Reduce -99.58%	32,179	-7,625,108
SBAC	SBA Communications Corp	2018-03-31	Reduce Reduce	-6.35%	● 152.91 ($165.74) 174.73	$181.90	9.75%	Reduce -99.57%	5,125	-1,196,314
LBRDK	Liberty Broadband Corp	2018-03-31	Add Add	+3.53%	● 83.62 ($90.04) 96.9	$33.36	-62.95%	Add 310.87%	1,596,294	1,207,774
HXL	Hexcel Corp	2018-03-31	Reduce Reduce	-2.41%	● 61.67 ($65.86) 69.08	$102.91	56.26%	Reduce -99.56%	5,243	-1,199,299
ALSN	Allison Transmission Holdings Inc	2018-03-31	Add Add	+2.31%	● 37.45 ($41.48) 45.33	$115.44	178.30%	Add 24.19%	8,898,607	1,733,444
BRK.B	Berkshire Hathaway Inc	2018-03-31	Reduce Reduce	-1.55%	● 191.42 ($205.28) 217.25	$509.68	148.29%	Reduce -23.11%	797,519	-239,743
BN	Brookfield Asset Management Inc	2018-03-31	Add Add	+1.53%	● 13.66 ($14.59) 15.7	$42.03	188.07%	Add 15.01%	19,888,427	1,153,287
SCHW	Charles Schwab Corp	2018-03-31	Reduce Reduce	-0.26%	● 48.9 ($53.56) 57.76	$104.33	94.79%	Reduce -2.5%	5,959,534	-152,695
CHTR	Charter Communications Inc	2018-03-31	Reduce Reduce	-0.18%	● 306.26 ($351.59) 387.5	$142.00	-59.61%	Reduce -2.51%	624,609	-16,049
AAPL	Apple Inc	2018-03-31	Reduce Reduce	-0.17%	● 38.79 ($43.04) 45.43	$333.43	674.70%	Reduce -2.48%	4,836,012	-30,745
CABO	Cable One Inc	2018-03-31	Add Add	+0.15%	● 667.13 ($700.54) 730.98	$39.56	-94.35%	Add 1.82%	364,916	6,507
TYL	Tyler Technologies Inc	2018-03-31	Reduce Reduce	-0.10%	● 178.69 ($200.06) 212.48	$323.31	61.61%	Reduce -1.97%	878,467	-17,630
LBTYK	Liberty Global PLC	2018-03-31	Reduce Reduce	-0.04%	● 30.03 ($33.17) 36.7	$10.24	-69.13%	Reduce -0.41%	9,573,196	-39,734
ST	Sensata Technologies Holding PLC	2018-03-31	Reduce Reduce	-0.03%	● 49.77 ($53.31) 57.01	$47.99	-9.98%	Reduce -0.52%	3,879,808	-20,320
CHTR	Charter Communications Inc	2017-12-31	New Buy New Buy	+7.00%	● 316.29 ($339.96) 371.09	$142.00	-58.23%	New holding	640,658	640,658
AME	AMETEK Inc	2017-12-31	Sold Out Sold Out	-5.89%	● 66.29 ($69.62) 72.87	$240.01	244.74%	Sold Out	0	-2,527,700
HXL	Hexcel Corp	2017-12-31	Reduce Reduce	-2.96%	● 58.23 ($60.77) 63.76	$102.91	69.34%	Reduce -54.81%	1,204,542	-1,460,880
CABO	Cable One Inc	2017-12-31	Add Add	+2.86%	● 663.6 ($704.07) 758.69	$39.56	-94.38%	Add 53.62%	358,409	125,094
BRK.B	Berkshire Hathaway Inc	2017-12-31	Reduce Reduce	-1.85%	● 181.06 ($189.83) 199.56	$509.68	168.49%	Reduce -21.6%	1,037,262	-285,808
LBRDK	Liberty Broadband Corp	2017-12-31	New Buy New Buy	+1.08%	● 81.24 ($89.04) 97.85	$33.36	-62.53%	New holding	388,520	388,520
LBTYK	Liberty Global PLC	2017-12-31	Reduce Reduce	-0.23%	● 28.34 ($30.72) 33.88	$10.24	-66.67%	Reduce -2%	9,612,930	-196,594
SCHW	Charles Schwab Corp	2017-12-31	Reduce Reduce	-0.12%	● 43.27 ($46.95) 52.28	$104.33	122.22%	Reduce -1.26%	6,112,229	-77,724
AXTA	Axalta Coating Systems Ltd	2017-12-31	Add Add	+0.09%	● 28.27 ($31.67) 37.55	$36.03	13.77%	Add 1.18%	7,657,287	89,223
BN	Brookfield Asset Management Inc	2017-12-31	Reduce Reduce	-0.06%	● 14.78 ($15.22) 15.82	$42.03	176.15%	Reduce -0.56%	17,293,532	-43,003
TYL	Tyler Technologies Inc	2017-12-31	Add Add	+0.04%	● 169.82 ($177.45) 184.11	$323.31	82.20%	Add 0.83%	896,097	7,374
AAPL	Apple Inc	2017-12-31	Add Add	+0.03%	● 38.37 ($41.85) 44.11	$333.43	696.73%	Add 0.39%	4,958,992	4,811
SBAC	SBA Communications Corp	2017-12-31	Reduce Reduce	-0.03%	● 142.87 ($158.68) 172.35	$181.90	14.63%	Reduce -0.44%	1,201,439	-5,288
ST	Sensata Technologies Holding PLC	2017-12-31	Add Add	+0.02%	● 47.31 ($49.25) 52.55	$47.99	-2.56%	Add 0.29%	3,900,128	11,317
ALSN	Allison Transmission Holdings Inc	2017-12-31	Reduce Reduce	-0.01%	● 36.69 ($40.73) 44.08	$115.44	183.43%	Reduce -0.14%	7,165,163	-10,272
WBC Unlock Delisted	WABCO Holdings Inc	2017-09-30	Sold Out Sold Out	-5.46%	● 127.41 ($138.69) 150.98	$136.46	-1.61%	Sold Out	0	0
ALSN	Allison Transmission Holdings Inc	2017-09-30	Add Add	+2.99%	● 33.2 ($36.42) 38.86	$115.44	216.97%	Add 46.03%	7,175,435	0
AXTA	Axalta Coating Systems Ltd	2017-09-30	Add Add	+0.85%	● 28.08 ($30.28) 33.54	$36.03	18.99%	Add 12.42%	7,568,064	0
ST	Sensata Technologies Holding PLC	2017-09-30	Add Add	+0.45%	● 42.97 ($45.1) 47.81	$47.99	6.41%	Add 7.4%	3,888,811	0
CABO	Cable One Inc	2017-09-30	Add Add	+0.44%	● 711.57 ($739.03) 762.27	$39.56	-94.65%	Add 8.01%	233,315	0
SBAC	SBA Communications Corp	2017-09-30	Add Add	+0.30%	● 133.6 ($142.22) 153.55	$181.90	27.90%	Add 5.16%	1,206,727	0
BRK.B	Berkshire Hathaway Inc	2017-09-30	Reduce Reduce	-0.11%	● 169.24 ($176.71) 183.82	$509.68	188.43%	Reduce -1.35%	1,323,070	0
AME	AMETEK Inc	2017-09-30	Reduce Reduce	-0.05%	● 60.91 ($63.19) 66.4	$240.01	279.82%	Reduce -0.86%	2,527,700	0
AAPL	Apple Inc	2017-09-30	Reduce Reduce	-0.03%	● 35.68 ($38.78) 41.01	$333.43	759.80%	Reduce -0.4%	4,939,748	0
SCHW	Charles Schwab Corp	2017-09-30	Reduce Reduce	-0.03%	● 38.11 ($41.53) 44.04	$104.33	151.22%	Reduce -0.33%	6,189,953	0
TYL	Tyler Technologies Inc	2017-09-30	Reduce Reduce	-0.02%	● 167.49 ($171.77) 181.33	$323.31	88.22%	Reduce -0.32%	888,723	0
LBTYK	Liberty Global PLC	2017-09-30	Add Add	+0.01%	● 30.37 ($32.27) 33.51	$10.24	-68.27%	Add 0.12%	9,809,524	0
HXL	Hexcel Corp	2017-09-30	Reduce Reduce	-0.01%	● 51.04 ($53.82) 57.92	$102.91	91.21%	Reduce -0.18%	2,665,422	0

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