
	Ruane Cunniff 13F
	Ruane, Cunniff & Goldfarb L.P.

	Last update 2023-11-14	36 Stocks (1 new)
	Value $6.03 Bil	Turnover 1 %
	Countries: Top Holdings: ICE(10.51%) UNH(9.17%) ELV(8.31%) SCHW(7.91%) FWONK(7.12%) Portfolio Report

Ruane Cunniff Profile

Bill Ruane and Rick Cunniff started the firm in 1969 in the belief that they could outperform the stock market by investing in great businesses selling at reasonable prices and staying with them as long as they remained attractive. By doing exhaustive primary research, ignoring fads and sticking to their principles, the firm has built an enviable track record.
William Ruane was a Graham-and-Doddsville superinvestor recognized by Warren Buffett. He was a student of Benjamin Graham, and attended his class at the same time as Warren Buffett.

Ruane Cunniff Investing Philosophy

According to the Ruane, Cunniff & Goldfarb website, "We own quality businesses run by quality people that can compound their earnings rapidly. We hold these businesses over a long horizon with the mindset of a long-term business owner. We buy them for less than what a conservative business person would pay for them. We focus on our best ideas, while avoiding excessive concentration. All along the way, we strive to make thoughtful, rational decisions based on intensive primary research. At the core of our strategy is a belief that if we pay attractive prices to own businesses that are higher-quality and faster-growing than the average S&P 500 company, then over the long term our portfolios should earn a higher return than the S&P 500 Index with less fundamental risk."

Ruane Cunniff Portfolio and Latest Trades

Ticker
Ticker
ELV
KMX
GOOGL
ICE
UNH
FWONK
SCHW
TSM
CACC
COF
J
GOOG
BATRK
LBRDK
META
BRK.B
BRK.A
LBRDA
FWONA
GPI
LLYVA
LLYVK
MU
NFLX
RMNI
ASAI
STLA
SPGI
MU
NFLX
ELV
LBRDK
COF
META
SCHW
J
GOOGL
ICE
UNH
GOOG
FWONK
TSM
KMX
BRK.A
BLDR
CACC
FWONA
AMZN
GPI
LBRDA
BRK.B
EQH
LAD
MSFT
RMNI
SPGI
ASAI
STLA
META
FWONK
SCHW
ICE
UNH
ELV
GOOG
KMX
CACC
TSM
J
BRK.B
COF
MU
LBRDK
NFLX
GOOGL
BRK.A
FWONA
LBRDA
BLDR
JKL
ASAI
IVV
AMZN
ATAI
EQH
LAD
MHK
RMNI
SBGI
STLA
ANGI
OPEN
W
NFLX
UNH
ELV
FWONK
SCHW
ICE
META

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
ELV	Elevance Health Inc	2023-09-30	Add	+0.73%	● 414.13 ($453.58) 475.93	$483.63	6.62%	Add 9.69%	1,150,221	101,573
KMX	CarMax Inc	2023-09-30	Reduce	-0.62%	● 69.01 ($81.89) 85.83	$64.86	-20.80%	Reduce -7.71%	5,565,356	-464,864
GOOGL	Alphabet Inc	2023-09-30	Reduce	-0.41%	● 116.45 ($129.36) 138.21	$130.48	0.87%	Reduce -6.72%	3,043,664	-219,168
ICE	Intercontinental Exchange Inc	2023-09-30	Reduce	-0.33%	● 107.23 ($114.57) 118.57	$114.07	-0.44%	Reduce -3.15%	5,756,875	-187,397
UNH	UnitedHealth Group Inc	2023-09-30	Reduce	-0.25%	● 447.75 ($492.14) 510.93	$551.40	12.04%	Reduce -2.94%	1,095,459	-33,171
FWONK	Liberty Formula One Group	2023-09-30	Reduce	-0.24%	● 61.45 ($68.85) 75.88	$62.12	-9.77%	Reduce -2.89%	6,888,388	-204,828
SCHW	Charles Schwab Corp	2023-09-30	Reduce	-0.24%	● 54.2 ($60.44) 67.94	$62.13	2.79%	Reduce -2.99%	8,680,835	-267,834
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-09-30	Reduce	-0.21%	● 84.29 ($94.56) 105.57	$96.11	1.64%	Reduce -2.97%	4,195,315	-128,621
CACC	Credit Acceptance Corp	2023-09-30	Reduce	-0.19%	● 460.12 ($506.34) 573.28	$443.43	-12.43%	Reduce -2.94%	765,230	-23,215
COF	Capital One Financial Corp	2023-09-30	Reduce	-0.17%	● 95.49 ($106.9) 117.96	$114.04	6.68%	Reduce -2.96%	3,302,793	-100,744
J	Jacobs Solutions Inc	2023-09-30	Reduce	-0.17%	● 119.34 ($130.26) 136.97	$127.19	-2.36%	Reduce -3%	2,865,447	-88,671
GOOG	Alphabet Inc	2023-09-30	Reduce	-0.17%	● 116.87 ($130.02) 138.99	$131.94	1.48%	Reduce -4.64%	1,874,601	-91,150
BATRK	Atlanta Braves Holdings Inc	2023-09-30	New Buy	+0.13%	● 35.5 ($37.85) 42.54	$35.80	-5.42%	New holding	224,489	224,489
LBRDK	Liberty Broadband Corp	2023-09-30	Reduce	-0.13%	● 80.38 ($89.2) 95.23	$76.48	-14.26%	Reduce -3.2%	3,181,243	-105,118
META	Meta Platforms Inc	2023-09-30	Reduce	-0.13%	● 283.25 ($301.3) 325.48	$316.25	4.96%	Reduce -3.21%	894,014	-29,693
BRK.B	Berkshire Hathaway Inc	2023-09-30	Reduce	-0.10%	● 340.9 ($354.77) 370.48	$355.59	0.23%	Reduce -3.79%	472,061	-18,618
BRK.A	Berkshire Hathaway Inc	2023-09-30	Reduce	-0.03%	● 517136 ($538989) 563073	$540,545.03	0.29%	Reduce -2.3%	170	-4
LBRDA	Liberty Broadband Corp	2023-09-30	Reduce	-0.03%	● 79.9 ($89.08) 95.29	$76.68	-13.92%	Reduce -2.93%	788,890	-23,815
FWONA	Liberty Formula One Group	2023-09-30	Reduce	-0.03%	● 55.37 ($61.22) 68.02	$55.93	-8.64%	Reduce -3.53%	888,017	-32,447
GPI	Group 1 Automotive Inc	2023-09-30	Add	0%	● 248.07 ($262.03) 275.5	$284.43	8.55%	Add 6.03%	2,777	158
LLYVA	Liberty Live Group	2023-09-30	Reduce	0%	● 30.71 ($32.83) 35.73	$31.35	-4.51%	Reduce -5.09%	37,392	-2,004
LLYVK	Liberty Live Group	2023-09-30	Reduce	0%	● 30.79 ($33.12) 37.68	$32.75	-1.11%	Reduce -2.82%	295,040	-8,550
MU	Micron Technology Inc	2023-09-30	Reduce	0%	● 60.65 ($66.99) 71.79	$73.56	9.80%	Reduce -2.48%	6,808	-173
NFLX	Netflix Inc	2023-09-30	Reduce	0%	● 376.36 ($423.91) 477.59	$450.22	6.21%	Reduce -37.8%	1,208	-734
RMNI	Rimini Street Inc	2023-09-30	Add	0%	● 2.15 ($3.04) 5.28	$3.12	2.63%	Add 22.3%	29,442	5,369
ASAI	Sendas Distribuidora SA	2023-09-30	Add	0%	● 11.3 ($13.12) 14.52	$12.84	-2.13%	Add 4.58%	145,705	6,378
STLA	Stellantis NV	2023-09-30	Reduce	0%	● 17.36 ($18.71) 20.55	$22.00	17.56%	Reduce -0.68%	55,345	-377
SPGI	S&P Global Inc	2023-09-30	Sold Out	0%	● 363.06 ($393.18) 428.41	$422.13	7.36%	Sold Out	0	-531
MU	Micron Technology Inc	2023-06-30	Reduce	-4.59%	● 57.02 ($64.22) 73.93	$73.56	14.54%	Reduce -99.85%	6,981	-4,657,030
NFLX	Netflix Inc	2023-06-30	Reduce	-3.47%	● 317.55 ($367.96) 445.27	$450.22	22.36%	Reduce -99.68%	1,942	-614,552
ELV	Elevance Health Inc	2023-06-30	Add	+1.70%	● 436.33 ($461.29) 496.2	$483.63	4.84%	Add 29.92%	1,048,648	241,524
LBRDK	Liberty Broadband Corp	2023-06-30	Add	+1.27%	● 70.76 ($77.42) 84.78	$76.48	-1.21%	Add 43.73%	3,286,361	999,886
COF	Capital One Financial Corp	2023-06-30	Add	+1.23%	● 85.63 ($100.06) 113.65	$114.04	13.97%	Add 26.37%	3,403,537	710,159
META	Meta Platforms Inc	2023-06-30	Reduce	-1.22%	● 207.55 ($246.21) 288.73	$316.25	28.45%	Reduce -27.59%	923,707	-351,982
SCHW	Charles Schwab Corp	2023-06-30	Add	+0.64%	● 47.37 ($52.38) 57.14	$62.13	18.60%	Add 8.6%	8,948,669	708,991
J	Jacobs Solutions Inc	2023-06-30	Add	+0.59%	● 109.6 ($115.31) 119.13	$127.19	10.30%	Add 11.87%	2,954,118	313,334
GOOGL	Alphabet Inc	2023-06-30	Reduce	-0.49%	● 103.71 ($114.92) 127.31	$130.48	13.54%	Reduce -8.08%	3,262,832	-286,821
ICE	Intercontinental Exchange Inc	2023-06-30	Reduce	-0.20%	● 104.29 ($108.22) 113.08	$114.07	5.41%	Reduce -1.9%	5,944,272	-115,004
UNH	UnitedHealth Group Inc	2023-06-30	Add	+0.20%	● 458.49 ($488.72) 526.23	$551.40	12.83%	Add 2.34%	1,128,630	25,811
GOOG	Alphabet Inc	2023-06-30	Reduce	-0.13%	● 104 ($115.57) 127.91	$131.94	14.16%	Reduce -3.64%	1,965,751	-74,157
FWONK	Liberty Formula One Group	2023-06-30	Reduce	-0.13%	● 68.81 ($72.33) 78.59	$62.12	-14.12%	Reduce -1.46%	7,093,216	-104,824
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-06-30	Reduce	-0.12%	● 82.25 ($93.07) 107.41	$96.11	3.27%	Reduce -1.75%	4,323,936	-76,884
KMX	CarMax Inc	2023-06-30	Reduce	-0.11%	● 62.44 ($73.07) 86.21	$64.86	-11.24%	Reduce -1.68%	6,030,220	-102,924
BRK.A	Berkshire Hathaway Inc	2023-06-30	Reduce	-0.06%	● 465600 ($497298) 517810	$540,545.03	8.70%	Reduce -4.4%	174	-8
BLDR	Builders FirstSource Inc	2023-06-30	Reduce	-0.06%	● 85.53 ($110.85) 136.17	$141.82	27.94%	Reduce -88.39%	5,800	-44,175
CACC	Credit Acceptance Corp	2023-06-30	Add	+0.06%	● 425.67 ($467.4) 512.31	$443.43	-5.13%	Add 0.89%	788,445	6,953
FWONA	Liberty Formula One Group	2023-06-30	Reduce	-0.02%	● 61.33 ($64.56) 69.89	$55.93	-13.37%	Reduce -1.86%	920,464	-17,453
AMZN	Amazon.com Inc	2023-06-30	Reduce	-0.01%	● 97.83 ($114.02) 130.36	$145.80	27.87%	Reduce -54.8%	6,020	-7,300
GPI	Group 1 Automotive Inc	2023-06-30	New Buy	+0.01%	● 215.87 ($229.84) 258.1	$284.43	23.75%	New holding	2,619	2,619
LBRDA	Liberty Broadband Corp	2023-06-30	Reduce	-0.01%	● 70.34 ($77.23) 84.53	$76.68	-0.71%	Reduce -1.08%	812,705	-8,873
BRK.B	Berkshire Hathaway Inc	2023-06-30	Reduce	0%	● 308.77 ($326.09) 341	$355.59	9.05%	Reduce -0.07%	490,679	-336
EQH	Equitable Holdings Inc	2023-06-30	Reduce	0%	● 22.82 ($25.31) 27.16	$31.48	24.40%	Reduce -0.34%	41,057	-139
LAD	Lithia Motors Inc	2023-06-30	Add	0%	● 207.13 ($239.31) 304.11	$267.33	11.71%	Add 10.01%	2,374	216
MSFT	Microsoft Corp	2023-06-30	New Buy	0%	● 275.42 ($313.01) 348.1	$371.06	18.55%	New holding	692	692
RMNI	Rimini Street Inc	2023-06-30	Reduce	0%	● 3.46 ($4.14) 4.79	$3.12	-24.64%	Reduce -3.45%	24,073	-860
SPGI	S&P Global Inc	2023-06-30	New Buy	0%	● 338.83 ($365.05) 400.89	$422.13	15.64%	New holding	531	531
ASAI	Sendas Distribuidora SA	2023-06-30	Reduce	0%	● 10.61 ($12.81) 15.4	$12.84	0.23%	Reduce -0.97%	139,327	-1,370
STLA	Stellantis NV	2023-06-30	Reduce	0%	● 15.3 ($16.8) 18.86	$22.00	30.92%	Reduce -9.64%	55,722	-5,948
META	Meta Platforms Inc	2023-03-31	Reduce	-3.17%	● 124.74 ($170.3) 211.94	$316.25	85.70%	Reduce -56.96%	1,275,689	-1,688,031
FWONK	Liberty Formula One Group	2023-03-31	Reduce	-1.48%	● 59.51 ($69.93) 75.12	$62.12	-11.17%	Reduce -18.06%	7,198,040	-1,586,341
SCHW	Charles Schwab Corp	2023-03-31	Reduce	-0.26%	● 51.91 ($73.23) 85.62	$62.13	-15.16%	Reduce -2.37%	8,239,678	-199,886
ICE	Intercontinental Exchange Inc	2023-03-31	Reduce	-0.24%	● 95.39 ($104.14) 109.35	$114.07	9.54%	Reduce -2.46%	6,059,276	-152,763
UNH	UnitedHealth Group Inc	2023-03-31	Reduce	-0.22%	● 460.33 ($482.57) 518.64	$551.40	14.26%	Reduce -2.37%	1,102,819	-26,803
ELV	Elevance Health Inc	2023-03-31	Reduce	-0.16%	● 446.3 ($475.89) 502.2	$483.63	1.63%	Reduce -2.35%	807,124	-19,399
GOOG	Alphabet Inc	2023-03-31	Reduce	-0.16%	● 86.77 ($96.56) 108.8	$131.94	36.64%	Reduce -5.21%	2,039,908	-112,080
KMX	CarMax Inc	2023-03-31	Reduce	-0.13%	● 56.26 ($66.93) 79.32	$64.86	-3.09%	Reduce -2.2%	6,133,144	-138,257
CACC	Credit Acceptance Corp	2023-03-31	Reduce	-0.13%	● 378.22 ($439.67) 548.99	$443.43	0.85%	Reduce -2.16%	781,492	-17,239
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-03-31	Reduce	-0.12%	● 74.03 ($89.76) 97.96	$96.11	7.07%	Reduce -2.29%	4,400,820	-103,342
J	Jacobs Solutions Inc	2023-03-31	Reduce	-0.11%	● 111.68 ($120.64) 128.51	$127.19	5.43%	Reduce -2.09%	2,640,784	-56,333
BRK.B	Berkshire Hathaway Inc	2023-03-31	Reduce	-0.09%	● 293.51 ($308.18) 320.37	$355.59	15.38%	Reduce -3.57%	491,015	-18,177
COF	Capital One Financial Corp	2023-03-31	Reduce	-0.08%	● 89.71 ($104.67) 121.82	$114.04	8.95%	Reduce -1.96%	2,693,378	-53,978
MU	Micron Technology Inc	2023-03-31	Reduce	-0.08%	● 50.37 ($58.6) 63.87	$73.56	25.52%	Reduce -2.13%	4,664,011	-101,441
LBRDK	Liberty Broadband Corp	2023-03-31	Reduce	-0.06%	● 76.79 ($86.32) 96.47	$76.48	-11.40%	Reduce -2.05%	2,286,475	-47,954
NFLX	Netflix Inc	2023-03-31	Reduce	-0.06%	● 292.76 ($330.93) 367.96	$450.22	36.05%	Reduce -2.03%	616,494	-12,765
GOOGL	Alphabet Inc	2023-03-31	Reduce	-0.04%	● 86.2 ($95.94) 107.74	$130.48	36.00%	Reduce -0.9%	3,549,653	-32,105
BRK.A	Berkshire Hathaway Inc	2023-03-31	Reduce	-0.04%	● 442765 ($466851) 483990	$540,545.03	15.79%	Reduce -3.19%	182	-6
FWONA	Liberty Formula One Group	2023-03-31	Reduce	-0.04%	● 53.15 ($62.94) 68.16	$55.93	-11.14%	Reduce -4.82%	937,917	-47,460
LBRDA	Liberty Broadband Corp	2023-03-31	Reduce	-0.02%	● 76.67 ($86.28) 96.8	$76.68	-11.13%	Reduce -1.68%	821,578	-14,062
BLDR	Builders FirstSource Inc	2023-03-31	Add	+0.01%	● 65.35 ($79.22) 89.18	$141.82	79.02%	Add 11.05%	49,975	4,973
JKL	iShares Morningstar Small-Cap Value ETF	2023-03-31	New Buy	+0.01%	● 49.59 ($54.9) 59.69	$172.73	214.62%	New holding	6,380	6,380
ASAI	Sendas Distribuidora SA	2023-03-31	Add	+0.01%	● 14.24 ($17.66) 20.8	$12.84	-27.29%	Add 39.21%	140,697	39,628
IVV	iShares Core S&P 500 ETF	2023-03-31	Sold Out	-0.01%	● 379.54 ($399.43) 416.92	$457.59	14.56%	Sold Out	0	-2,460
AMZN	Amazon.com Inc	2023-03-31	Add	0%	● 83.12 ($96.61) 112.91	$145.80	50.92%	Add 1.37%	13,320	180
ATAI	ATAI Life Sciences NV	2023-03-31	New Buy	0%	● 1.17 ($1.69) 2.7	$1.10	-34.62%	New holding	42,112	42,112
EQH	Equitable Holdings Inc	2023-03-31	Add	0%	● 23.46 ($29.51) 32.88	$31.48	6.69%	Add 21.26%	41,196	7,224
LAD	Lithia Motors Inc	2023-03-31	Add	0%	● 201.14 ($243.2) 294.3	$267.33	9.92%	Add 4.71%	2,158	97
MHK	Mohawk Industries Inc	2023-03-31	Reduce	0%	● 94.35 ($108.98) 127.76	$91.13	-16.38%	Reduce -0.4%	10,790	-43
RMNI	Rimini Street Inc	2023-03-31	Reduce	0%	● 3.92 ($4.51) 5.1	$3.12	-30.82%	Reduce -18.09%	24,933	-5,505
SBGI	Sinclair Broadcast Group Inc	2023-03-31	Add	0%	● 12.65 ($17.39) 21.84	$13.13	-24.50%	Add 1.35%	17,959	240
STLA	Stellantis NV	2023-03-31	Add	0%	● 14.59 ($16.7) 18.83	$22.00	31.71%	Add 12.91%	61,670	7,053
ANGI	Angi Inc	2023-03-31	Sold Out	0%	● 2.06 ($2.56) 3.01	$2.36	-7.81%	Sold Out	0	-32,383
OPEN	Opendoor Technologies Inc	2023-03-31	Sold Out	0%	● 1.09 ($1.7) 2.79	$3.41	100.49%	Sold Out	0	-17,500
W	Wayfair Inc	2022-12-31	Sold Out	-2.27%	● 28.35 ($34.9) 42.16	$56.11	60.77%	Sold Out	0	-4,685,292
NFLX	Netflix Inc	2022-12-31	Reduce	-2.09%	● 214.29 ($280.49) 320.41	$450.22	60.51%	Reduce -48.76%	629,259	-598,823
UNH	UnitedHealth Group Inc	2022-12-31	Reduce	-1.43%	● 498.86 ($529.71) 555.15	$551.40	4.09%	Reduce -14.43%	1,129,622	-190,469
ELV	Elevance Health Inc	2022-12-31	Reduce	-1.09%	● 465.23 ($507.74) 546.77	$483.63	-4.75%	Reduce -16.33%	826,523	-161,334
FWONK	Liberty Formula One Group	2022-12-31	Reduce	-0.44%	● 53.79 ($59.16) 63.41	$62.12	5.00%	Reduce -5.47%	8,784,381	-507,984
SCHW	Charles Schwab Corp	2022-12-31	Reduce	-0.30%	● 67.43 ($77.61) 83.26	$62.13	-19.95%	Reduce -3.22%	8,439,564	-280,526
ICE	Intercontinental Exchange Inc	2022-12-31	Reduce	-0.28%	● 90.02 ($99.59) 109.53	$114.07	14.54%	Reduce -3.27%	6,212,039	-210,217
META	Meta Platforms Inc	2022-12-31	Reduce	-0.19%	● 88.91 ($117.43) 140.28	$316.25	169.31%	Reduce -3.14%	2,963,720	-96,050

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