Ruane Cunniff

Ruane Cunniff

Last Update: 11-13-2017

Number of Stocks: 69
Number of New Stocks: 4

Total Value: $11,415 Mil
Q/Q Turnover: 9%

Countries: USA SGP
Details: Top Buys | Top Sales | Top Holdings  Embed:

Ruane Cunniff' s Profile & Performance

Profile

This is the firm founded by William Ruane, who died in Oct. 2005. We continue to track its stock picks. The current investment committee is directed by Richard T. Cunniff. William Ruane is a Graham-and-Doddsville superinvestor recognized by Warren Buffett. William Ruane was founder and Chairman of Sequoia Fund, Inc. (SEQUX). Since inception in 1970 through September 30, 2007, the Fund has returned 15.57% average annually. During the same period the S&P 500 returned an average 11.86% annually. He is a student of Benjamin Graham, and attended his class at the same time as Warren Buffett.

Web Page:http://www.sequoiafund.com/

Investing Philosophy

Ruane Cunniff are value investors focused on the intrinsic value of business. They are long-term investors, and will buy a stock and hold it for a long time, even if sometimes the stocks seem to be overvalued. They look at common stocks as units of ownership in a business, and purchase them when the price appears low in relation to the value of the total enterprise. The Firm shuns technical stock market studies, and looks at the balance sheet, earnings history, and prospects of each investment when determining its value.

Total Holding History

Performance of Sequoia Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
2016-6.911.96-18.9
2015-7.311.38-8.7
20147.5613.69-6.1
3-Year Cumulative-7.2 (-2.5%/year)29 (8.9%/year)-36.2 (-11.4%/year)
201334.5832.392.2
201215.6816-0.3
5-Year Cumulative44.5 (7.6%/year)98.2 (14.7%/year)-53.7 (-7.1%/year)
201113.192.1111.1
201019.515.064.4
200915.3826.46-11.1
2008-27.03-3710.0
20078.45.492.9
10-Year Cumulative78.4 (6%/year)95.7 (6.9%/year)-17.3 (-0.9%/year)
20068.3415.79-7.4
20057.784.912.9
20044.6610.88-6.2
200317.1228.68-11.6
2002-2.64-22.119.5
15-Year Cumulative148.6 (6.3%/year)164.2 (6.7%/year)-15.6 (-0.4%/year)
200110.52-11.8922.4
200020.06-9.129.2
1999-16.5421.04-37.6
199835.2528.586.7
199743.233.369.8
20-Year Cumulative433.2 (8.7%/year)339.2 (7.7%/year)94 (1%/year)
199621.7422.96-1.2
199541.3837.583.8
19943.341.322.0
199310.7810.080.7
19929.367.621.7
25-Year Cumulative1048.9 (10.3%/year)791.8 (9.1%/year)257.1 (1.2%/year)
19914030.479.5
1990-3.8-3.1-0.7
198927.9131.69-3.8
198811.0516.61-5.6
19877.45.12.3
30-Year Cumulative2260.5 (11.1%/year)1719.7 (10.2%/year)540.8 (0.9%/year)
198613.3818.6-5.2
198527.9531.6-3.6
198418.56.112.4
198327.3122.44.9
198231.1221.49.7
35-Year Cumulative6673.9 (12.8%/year)4377.7 (11.5%/year)2296.2 (1.3%/year)
198121.49-526.5
198012.6632.3-19.6

Top Ranked Articles

Thoughts on Chipotle Mexican Grill's Earnings The stock is still a bargain
Chipotle Mexican Grill Inc. (NYSE:CMG) just released earnings after the closing bell on Wall Street and the numbers were better than expected. The stock is up over $10 in after-hours trading thanks to an earnings beat; however, revenue was soft and comps were 8.1% lower than expected. After 16 years, I have seen companies release numbers like this only to pull back to the closing price and actually open down the next day. Read more...
Ruane Cunniff Comments on Liberty Media Guru stock highlight
At the very end of the year, we found what we believe will be another good use for our dry powder when we joined a select group of investors in purchasing a stake in Liberty Media Group, a John Malone-affiliated company, as part of Liberty’s acquisition of the Formula One auto racing business. The deal closed on January 23, and Sequoia purchased 4.7 million shares at a discounted price of $25 per share.

Recently, Liberty Media (NYSE:BATRR) has traded above our cost basis in the public market. Sequoia’s allocation will be restricted for several months, meaning we won’t be able to sell the shares. During that time, accounting rules require us to price the stock at a modest discount to its market price to reflect its illiquidity. Undoubtedly, the share price will fluctuate during the lock-up period, but we’re delighted to have acquired shares at what we believe is an attractive price. More importantly, we believe Formula One is a powerful global brand and Liberty will be an excellent manager. Our expectation Read more...
CarMax Reports Fiscal 1st-Quarter Results Company beats expectations on earnings and revenue thanks to a 12.1% upside in used vehicle sales
CarMax Inc. (NYSE:KMX) – the biggest used vehicles dealer in the U.S. – released its first-quarter 2018 financial results on June 21. The quarter ended on May 31. Read more...
Ruane Cunniff Comments on Amazon Guru stock highlight
In the fall, we exited our small position in Walmart and replaced it with a similarly small position in Amazon (NASDAQ:AMZN). The company’s e-commerce operation (Amazon.com) and its cloud computing platform (Amazon Web Services) are two of the most advantaged businesses we’ve analyzed in quite some time. Both are growing fast and have miles of runway ahead of them. And they are run by arguably the most talented, customer-focused and long term-oriented businessman of his generation.

At a consolidated level, Amazon produces very little in the way of reported profits. Amazon Web Services, whose financials are disclosed separately, earns very rich margins, but the larger e-commerce business reports scant earnings. Our research indicates that the company’s e-commerce business has substantial earnings power that is being masked by a variety of ambitious growth investments. The Fund purchased shares at what we believe to be a reasonable multiple of underlying earnings power excluding those investments. Estimating Read more...
Ruane Cunniff Sells Berkshire and Praxair, Exits Walmart The guru's largest 4th-quarter deals
Ruane, Cunniff & Goldfarb Inc. was founded by William Ruane, and Ruane Cunniff (TradesPortfolio)'s current investment committee is directed by Richard Cunniff. He manages a portfolio composed of 92 stocks with a total value of $10.642 billion. During the fourth quarter the guru sold shares in the following stocks: Read more...
» More Ruane Cunniff Articles

Commentaries and Stories

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Ruane, Cunniff & Goldfarb Adds to Alphabet, Wells Fargo Positions, Buys BMC Stock Holdings The firm's largest 3rd-quarter buys Ruane Cunniff - Ruane, Cunniff & Goldfarb Adds To Alphabet, Wells Fargo Positions, Buys BMC Stock Holdings
Ruane, Cunniff & Goldfarb Inc. was founded by Bill Ruane and Rick Cunniff in 1970. During the third quarter, the firm invested in the following stocks: More...

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Ruane, Cunniff & Goldfarb 3rd Quarter Commentary Discussion of holdings and company Ruane Cunniff - Ruane, Cunniff & Goldfarb 3rd Quarter Commentary
Dear Sequoia Shareholders and Clients: More...

  • Currently 4.33/5

Rating: 4.3/5 (3 votes)

Auto Parts Stores Are Looking Very Cheap AutoZone, Advance Auto and O'Reilly are down year to date Ruane Cunniff,Chuck Akre - Auto Parts Stores Are Looking Very Cheap
While the last seven or eight months have been unkind to the stock prices of the three major auto parts stores, they have done extremely well over the long term. More...

AUTO PARTS, AUTOMOTIVE, RETAILERS


  • Currently 2.50/5

Rating: 2.5/5 (2 votes)

Ruane Cunniff's Sequoia Fund 2nd Quarter Shareholder Letter Fund discusses holdings and performance Ruane Cunniff - Ruane Cunniff's Sequoia Fund 2nd Quarter Shareholder Letter
Dear Sequoia Shareholders and Clients: More...

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7 Negative Assets in Gurus' Portfolios Gurus' holdings with falling prices and returns Ruane Cunniff,Spiros Segalas,Chuck Akre,Pioneer In - 7 Negative Assets In Gurus' Portfolios
While gurus hold positions in these companies, the stock price and returns continue to fall. These are the worst-performing stocks over the last three months with a long-term presence in more than four gurus’ portfolios. More...

  • Currently 3.75/5

Rating: 3.8/5 (4 votes)

Thoughts on Chipotle Mexican Grill's Earnings The stock is still a bargain Bill Ackman, Ruane Cunniff - Thoughts On Chipotle Mexican Grill's Earnings
Chipotle Mexican Grill Inc. (NYSE:CMG) just released earnings after the closing bell on Wall Street and the numbers were better than expected. The stock is up over $10 in after-hours trading thanks to an earnings beat; however, revenue was soft and comps were 8.1% lower than expected. After 16 years, I have seen companies release numbers like this only to pull back to the closing price and actually open down the next day. More...

CHIPOTLE, MEXICAN FOOD, FAST CASUAL


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Sequoia Fund Climbing Back Post-Valeant Saga Buffett-endorsed firm beating index for first time after Valeant cratered Ruane Cunniff - Sequoia Fund Climbing Back Post-Valeant Saga
Following three years of underperforming the index, the fund Warren Buffett (Trades, Portfolio) once endorsed is moving toward its best return since before a historic collapse at one of its largest portfolio companies. More...

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CarMax Reports Fiscal 1st-Quarter Results Company beats expectations on earnings and revenue thanks to a 12.1% upside in used vehicle sales Chris Davis, Ruane Cunniff, Ron Baron, Dodge & Cox - CarMax Reports Fiscal 1st-Quarter Results
CarMax Inc. (NYSE:KMX) – the biggest used vehicles dealer in the U.S. – released its first-quarter 2018 financial results on June 21. The quarter ended on May 31. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

CarMax to Report 1st-Quarter Fiscal 2018 Results Analysts see an 8.9% upside in earnings from the same quarter of fiscal 2017 Chris Davis,Ruane Cunniff,Ron Baron,Dodge & Cox - CarMax To Report 1st-Quarter Fiscal 2018 Results
CarMax Inc. (NYSE:KMX) – the biggest used vehicles dealer in the U.S. – will release the first-quarter 2018 financial results on June 21 before the New York Stock Exchange opens. More...

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7 Stocks With High Business Predictability All-in-One Screener identifies top companies Jim Simons, Ruane Cunniff, Steve Mandel, Ken Fishe - 7 Stocks With High Business Predictability
According to GuruFocus’ All-in-One Screener, the following stocks have high business predictability ratings and positive total returns since the beginning of the year. More...

  • Currently 5.00/5

Rating: 5.0/5 (2 votes)

Ruane, Cunniff & Goldfarb 1st Quarter Commentary 2017 Discussion of fund activities Ruane Cunniff - Ruane, Cunniff & Goldfarb 1st Quarter Commentary 2017
Dear Shareholder: More...

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Ruane Cunniff Sells Berkshire and Praxair, Exits Walmart The guru's largest 4th-quarter deals Ruane Cunniff,Tom Russo,Chris Davis,First Eagle In - Ruane Cunniff Sells Berkshire And Praxair, Exits Walmart
Ruane, Cunniff & Goldfarb Inc. was founded by William Ruane, and Ruane Cunniff (TradesPortfolio)'s current investment committee is directed by Richard Cunniff. He manages a portfolio composed of 92 stocks with a total value of $10.642 billion. During the fourth quarter the guru sold shares in the following stocks: More...

  • Currently 2.50/5

Rating: 2.5/5 (2 votes)

Valeant Pharmaceuticals Is a Potential Sell Company reports declining financial outlook for 2017 Steven Cohen,Ruane Cunniff,Bill Ackman - Valeant Pharmaceuticals Is A Potential Sell
Valeant Pharmaceuticals Inc. (NYSE:VRX) reported a net loss of $515 million during fourth-quarter 2016 based on generally accepted accounting principles and an adjusted EBITDA of $1.05 billion. For full-year 2016, the company reported a GAAP net loss of $2.4 billion, which translates to a loss per share of approximately $6.94. These values suggest that Valeant has a weakening financial outlook for 2017. More...

BILL ACKMAN, RUANE CUNNIFF, STEVEN COHEN


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Rating: 5.0/5 (1 vote)

Ruane Cunniff Comments on Liberty Media Guru stock highlight
At the very end of the year, we found what we believe will be another good use for our dry powder when we joined a select group of investors in purchasing a stake in Liberty Media Group, a John Malone-affiliated company, as part of Liberty’s acquisition of the Formula One auto racing business. The deal closed on January 23, and Sequoia purchased 4.7 million shares at a discounted price of $25 per share.Recently, Liberty Media (NYSE:BATRR) has traded above our cost basis in the public market. Sequoia’s allocation will be restricted for several months, meaning we won’t be able to sell the shares. During that time, accounting rules require us to price the stock at a modest discount to its market price to reflect its illiquidity. Undoubtedly, the share price will fluctuate during the lock-up period, but we’re delighted to have acquired shares at what we believe is an attractive price. More importantly, we believe Formula One is a powerful global brand and Liberty will be an excellent manager. Our expectation More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Ruane Cunniff Comments on Amazon Guru stock highlight
In the fall, we exited our small position in Walmart and replaced it with a similarly small position in Amazon (NASDAQ:AMZN). The company’s e-commerce operation (Amazon.com) and its cloud computing platform (Amazon Web Services) are two of the most advantaged businesses we’ve analyzed in quite some time. Both are growing fast and have miles of runway ahead of them. And they are run by arguably the most talented, customer-focused and long term-oriented businessman of his generation.At a consolidated level, Amazon produces very little in the way of reported profits. Amazon Web Services, whose financials are disclosed separately, earns very rich margins, but the larger e-commerce business reports scant earnings. Our research indicates that the company’s e-commerce business has substantial earnings power that is being masked by a variety of ambitious growth investments. The Fund purchased shares at what we believe to be a reasonable multiple of underlying earnings power excluding those investments. Estimating More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Ruane Cunniff Comments on Chipotle Guru stock highlight
Chipotle (NYSE:CMG) has been a weak performer, down 13% since purchase through the end of 2016. We knew Chipotle faced a long road to recovery after several outbreaks of food-borne illnesses frightened customers away, but we were attracted by the enormous potential of the business, which could grow for many years and generate high returns if the executive team manages the recovery adeptly. Chipotle is making changes to management and its board of directors, including adding a director who played a key role in the turnaround at McDonald’s a decade ago. Recently reported sales figures for December showed encouraging gains in customer traffic, but we are watching carefully, as the pace of recovery thus far has fallen short of our initial expectations. More...

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Rating: 4.0/5 (4 votes)

Ruane, Cunniff & Goldfarb's Sequoia Fund 4th Quarter Shareholder Letter Discussion on 'most difficult year' Ruane Cunniff - Ruane, Cunniff & Goldfarb's Sequoia Fund 4th Quarter Shareholder Letter
Dear Shareholder: More...

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O’Reilly Automotive: Does Debt Diminish Its Value Stock Status? This auto parts retailer has several powerful metrics in its favor, but also a hefty amount of long-term debt Lee Ainslie,Ruane Cunniff - O’Reilly Automotive: Does Debt Diminish Its Value Stock Status?
O’Reilly Automotive Inc. (NASDAQ:ORLY) currently holds a spot on the Undervalued Predictable screener list at GuruFocus due to a couple of recent dips in the share price: More...

AUTO PARTS, RETAIL, SPECIALTY RETAIL, UNDERVALUED, PREDICTABLE, PULLBACK, LONG


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Rating: 5.0/5 (1 vote)

21 Questions for Bluegrass Capital's Founder 'I shy away from interacting with management as I am generally afraid the relationship will create bias' Jim Simons,Ruane Cunniff,Bill Gates,Tom Gayner,Mur - 21 Questions For  Bluegrass Capital's Founder
Thank you for your interest in me. I am a longtime follower of your site and hope my responses prove useful to at least a few of your readers. I look forward to other interviews in this series. More...

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Rating: 4.0/5 (3 votes)

Ruane Cunniff Makes One Significant Buy Sequoia Fund enters dental space after disposing of Valeant Ruane Cunniff - Ruane Cunniff Makes One Significant Buy
On Tuesday, Ruane Cunniff (Trades, Portfolio) disclosed its first quarterly update since losing significantly on a position in Valeant Pharmaceuticals (NYSE:VRX), a fast-growing drug maker accused of price gouging and a dubious relationship with a pharmacy. The firm’s Sequoia Fund made only one large purchase during the third quarter, Dentsply Sirona (NASDAQ:XRAY). More...

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