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

	Last update 2024-11-14	37 Stocks (2 new)
	Value $6.39 Bil	Turnover 1 %
	Countries: Top Holdings: ICE(12.60%)UNH(8.84%)ELV(8.17%)TSM(7.89%)SCHW(7.55%) 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
MU
NFLX
META
W
KMX
CHTR
NFLX
ELV
KMX
FWONK
TSM
UNH
META
AMTM
LBRDK
COF
META
ELV
ELV
SCHW
KMX
J
TSM
COF
ICE
ICE
GOOGL
GOOG
FWONK
ELV
GOOGL
SCHW
SCHW
SCHW
ELV
UNH
LBRDK
UNH
ICE
TSM
GOOGL
COF
GOOGL
SCHW
FWONK
ICE
ICE
J
FWONK
SCHW
UNH
CACC
SCHW
FWONK
ICE
J
KMX
CACC
UNH
UNH
GOOG
ELV
TSM
GOOG
ICE
ICE
UNH
EXPD
CACC
META
GOOG
KMX
KMX
SCHW
TSM
LBRDK
META
FWONK
COF
J
GOOG
BRK.A
ELV
CACC
GOOG
GOOGL
LLYVK
ELV
TSM
J
GOOGL
CACC
UNH
BATRK
BATRK
EXPD
J
LBRDK
GOOG
KMX

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
MU	Micron Technology Inc	2023-06-30	Reduce	-4.59%	● 57.02 ($64.22) 73.93	$97.95	52.52%	Reduce -99.85%	6,981	-4,657,030
NFLX	Netflix Inc	2023-06-30	Reduce	-3.47%	● 317.55 ($367.96) 445.27	$886.81	141.01%	Reduce -99.68%	1,942	-614,552
META	Meta Platforms Inc	2023-03-31	Reduce	-3.17%	● 124.74 ($170.3) 211.94	$574.32	237.24%	Reduce -56.96%	1,275,689	-1,688,031
W	Wayfair Inc	2022-12-31	Sold Out	-2.27%	● 28.35 ($34.9) 42.16	$46.24	32.49%	Sold Out	0	-4,685,292
KMX	CarMax Inc	2024-09-30	Reduce	-2.25%	● 71.21 ($79.07) 85.78	$83.97	6.20%	Reduce -51.93%	1,825,488	-1,971,953
CHTR	Charter Communications Inc	2024-06-30	New Buy	+2.12%	● 254.61 ($272.92) 298.96	$396.96	45.45%	New holding	454,226	454,226
NFLX	Netflix Inc	2022-12-31	Reduce	-2.09%	● 214.29 ($280.49) 320.41	$886.81	216.16%	Reduce -48.76%	629,259	-598,823
ELV	Elevance Health Inc	2023-06-30	Add	+1.70%	● 436.33 ($461.29) 496.2	$406.96	-11.78%	Add 29.92%	1,048,648	241,524
KMX	CarMax Inc	2023-12-31	Reduce	-1.69%	● 60.39 ($67.22) 78.55	$83.97	24.92%	Reduce -25.85%	4,126,906	-1,438,450
FWONK	Liberty Formula One Group	2023-03-31	Reduce	-1.48%	● 59.51 ($69.93) 75.12	$88.36	26.35%	Reduce -18.06%	7,198,040	-1,586,341
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2024-06-30	Reduce	-1.46%	● 127.7 ($151.69) 179.69	$184.66	21.74%	Reduce -18.64%	3,023,723	-692,927
UNH	UnitedHealth Group Inc	2022-12-31	Reduce	-1.43%	● 498.86 ($529.71) 555.15	$610.20	15.20%	Reduce -14.43%	1,129,622	-190,469
META	Meta Platforms Inc	2023-12-31	Reduce	-1.34%	● 288.35 ($325.65) 358.32	$574.32	76.36%	Reduce -30.2%	624,010	-270,004
AMTM	Amentum Holdings Inc	2024-09-30	New Buy	+1.28%	● 25.67 ($28.49) 32.25	$24.35	-14.53%	New holding	2,530,489	2,530,489
LBRDK	Liberty Broadband Corp	2023-06-30	Add	+1.27%	● 70.76 ($77.42) 84.78	$85.14	9.97%	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	$192.01	91.89%	Add 26.37%	3,403,537	710,159
META	Meta Platforms Inc	2023-06-30	Reduce	-1.22%	● 207.55 ($246.21) 288.73	$574.32	133.26%	Reduce -27.59%	923,707	-351,982
ELV	Elevance Health Inc	2022-12-31	Reduce	-1.09%	● 465.23 ($507.74) 546.77	$406.96	-19.85%	Reduce -16.33%	826,523	-161,334
ELV	Elevance Health Inc	2023-09-30	Add	+0.73%	● 414.13 ($453.58) 475.93	$406.96	-10.28%	Add 9.69%	1,150,221	101,573
SCHW	Charles Schwab Corp	2023-06-30	Add	+0.64%	● 47.37 ($52.38) 57.14	$82.76	58.00%	Add 8.6%	8,948,669	708,991
KMX	CarMax Inc	2023-09-30	Reduce	-0.62%	● 69.01 ($81.89) 85.83	$83.97	2.54%	Reduce -7.71%	5,565,356	-464,864
J	Jacobs Solutions Inc	2023-06-30	Add	+0.59%	● 109.6 ($115.31) 119.13	$141.23	22.48%	Add 11.87%	2,954,118	313,334
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2024-03-31	Reduce	-0.59%	● 99.13 ($124.2) 149.2	$184.66	48.68%	Reduce -8.69%	3,716,650	-353,629
COF	Capital One Financial Corp	2024-03-31	Reduce	-0.57%	● 124.92 ($135.42) 148.89	$192.01	41.79%	Reduce -8.45%	2,952,729	-272,466
ICE	Intercontinental Exchange Inc	2024-06-30	Reduce	-0.52%	● 126.54 ($134.36) 138.72	$160.96	19.80%	Reduce -4.59%	5,108,459	-245,844
ICE	Intercontinental Exchange Inc	2024-03-31	Reduce	-0.51%	● 124.81 ($132.81) 139.43	$160.96	21.20%	Reduce -4.45%	5,354,303	-249,488
GOOGL	Alphabet Inc	2023-06-30	Reduce	-0.49%	● 103.71 ($114.92) 127.31	$168.95	47.02%	Reduce -8.08%	3,262,832	-286,821
GOOG	Alphabet Inc	2024-03-31	Reduce	-0.45%	● 132.56 ($144.34) 154.84	$170.49	18.12%	Reduce -11.23%	1,580,745	-199,942
FWONK	Liberty Formula One Group	2022-12-31	Reduce	-0.44%	● 53.79 ($59.16) 63.41	$88.36	49.36%	Reduce -5.47%	8,784,381	-507,984
ELV	Elevance Health Inc	2024-06-30	Reduce	-0.41%	● 497.49 ($528.58) 547.8	$406.96	-23.01%	Reduce -4.71%	1,024,071	-50,614
GOOGL	Alphabet Inc	2023-09-30	Reduce	-0.41%	● 116.45 ($129.36) 138.21	$168.95	30.60%	Reduce -6.72%	3,043,664	-219,168
SCHW	Charles Schwab Corp	2024-06-30	Reduce	-0.39%	● 70.03 ($73.87) 78.9	$82.76	12.03%	Reduce -4.27%	7,785,057	-347,586
SCHW	Charles Schwab Corp	2024-09-30	Reduce	-0.38%	● 61.74 ($65.69) 76.08	$82.76	25.99%	Reduce -4.3%	7,450,286	-334,771
SCHW	Charles Schwab Corp	2024-03-31	Reduce	-0.37%	● 61.89 ($65.86) 72.38	$82.76	25.66%	Reduce -3.98%	8,132,643	-337,513
ELV	Elevance Health Inc	2024-03-31	Reduce	-0.35%	● 464.61 ($497.33) 519.96	$406.96	-18.17%	Reduce -4.19%	1,074,685	-46,958
UNH	UnitedHealth Group Inc	2024-03-31	Reduce	-0.35%	● 472.6 ($508.38) 545.42	$610.20	20.03%	Reduce -3.89%	1,027,863	-41,556
LBRDK	Liberty Broadband Corp	2024-06-30	Reduce	-0.35%	● 48.19 ($51.63) 55.75	$85.14	64.90%	Reduce -13.31%	2,566,228	-394,071
UNH	UnitedHealth Group Inc	2024-06-30	Reduce	-0.34%	● 439.2 ($490.13) 524.63	$610.20	24.50%	Reduce -4.28%	983,826	-44,037
ICE	Intercontinental Exchange Inc	2023-09-30	Reduce	-0.33%	● 107.23 ($114.57) 118.57	$160.96	40.49%	Reduce -3.15%	5,756,875	-187,397
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2024-09-30	Reduce	-0.32%	● 147.95 ($170.4) 191.05	$184.66	8.37%	Reduce -3.94%	2,904,689	-119,034
GOOGL	Alphabet Inc	2024-09-30	Reduce	-0.31%	● 148.66 ($167.74) 191.18	$168.95	0.72%	Reduce -3.92%	2,667,043	-108,797
COF	Capital One Financial Corp	2024-06-30	Reduce	-0.30%	● 133.7 ($140.29) 148.87	$192.01	36.87%	Reduce -4.38%	2,823,544	-129,185
GOOGL	Alphabet Inc	2024-06-30	Reduce	-0.30%	● 150.53 ($168.57) 185.41	$168.95	0.23%	Reduce -4.44%	2,775,840	-129,017
SCHW	Charles Schwab Corp	2022-12-31	Reduce	-0.30%	● 67.43 ($77.61) 83.26	$82.76	6.64%	Reduce -3.22%	8,439,564	-280,526
FWONK	Liberty Formula One Group	2024-03-31	Reduce	-0.29%	● 61.89 ($67.12) 73.3	$88.36	31.64%	Reduce -4.22%	6,438,428	-283,983
ICE	Intercontinental Exchange Inc	2023-12-31	Reduce	-0.28%	● 104.72 ($113.38) 128.6	$160.96	41.97%	Reduce -2.66%	5,603,791	-153,084
ICE	Intercontinental Exchange Inc	2022-12-31	Reduce	-0.28%	● 90.02 ($99.59) 109.53	$160.96	61.62%	Reduce -3.27%	6,212,039	-210,217
J	Jacobs Solutions Inc	2024-06-30	Reduce	-0.27%	● 134.12 ($141.79) 151.23	$141.23	-0.39%	Reduce -4.17%	2,575,459	-112,109
FWONK	Liberty Formula One Group	2024-06-30	Reduce	-0.26%	● 65.54 ($70.58) 75.55	$88.36	25.19%	Reduce -4.02%	6,179,575	-258,853
SCHW	Charles Schwab Corp	2023-03-31	Reduce	-0.26%	● 51.91 ($73.23) 85.62	$82.76	13.01%	Reduce -2.37%	8,239,678	-199,886
UNH	UnitedHealth Group Inc	2023-09-30	Reduce	-0.25%	● 447.75 ($492.14) 510.93	$610.20	23.99%	Reduce -2.94%	1,095,459	-33,171
CACC	Credit Acceptance Corp	2024-03-31	Reduce	-0.25%	● 516.26 ($548.63) 582.42	$497.70	-9.28%	Reduce -3.92%	718,040	-29,316
SCHW	Charles Schwab Corp	2023-09-30	Reduce	-0.24%	● 54.2 ($60.44) 67.94	$82.76	36.93%	Reduce -2.99%	8,680,835	-267,834
FWONK	Liberty Formula One Group	2023-09-30	Reduce	-0.24%	● 61.45 ($68.85) 75.88	$88.36	28.34%	Reduce -2.89%	6,888,388	-204,828
ICE	Intercontinental Exchange Inc	2023-03-31	Reduce	-0.24%	● 95.39 ($104.14) 109.35	$160.96	54.56%	Reduce -2.46%	6,059,276	-152,763
J	Jacobs Solutions Inc	2024-03-31	Reduce	-0.23%	● 126.43 ($141.75) 153.73	$141.23	-0.37%	Reduce -3.98%	2,687,568	-111,517
KMX	CarMax Inc	2024-06-30	Reduce	-0.23%	● 67.21 ($72.06) 85.94	$83.97	16.53%	Reduce -4.3%	3,797,441	-170,637
CACC	Credit Acceptance Corp	2024-09-30	Reduce	-0.22%	● 420.93 ($491.36) 611.11	$497.70	1.29%	Reduce -3.85%	681,604	-27,323
UNH	UnitedHealth Group Inc	2023-12-31	Reduce	-0.22%	● 509.47 ($533.34) 552.97	$610.20	14.41%	Reduce -2.38%	1,069,419	-26,040
UNH	UnitedHealth Group Inc	2023-03-31	Reduce	-0.22%	● 460.33 ($482.57) 518.64	$610.20	26.45%	Reduce -2.37%	1,102,819	-26,803
GOOG	Alphabet Inc	2023-12-31	Reduce	-0.21%	● 123.4 ($135.69) 142.82	$170.49	25.65%	Reduce -5.01%	1,780,687	-93,914
ELV	Elevance Health Inc	2023-12-31	Reduce	-0.21%	● 433.51 ($462.41) 488.06	$406.96	-11.99%	Reduce -2.48%	1,121,643	-28,578
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-09-30	Reduce	-0.21%	● 84.29 ($94.56) 105.57	$184.66	95.28%	Reduce -2.97%	4,195,315	-128,621
GOOG	Alphabet Inc	2024-06-30	Reduce	-0.21%	● 151.94 ($170.1) 186.86	$170.49	0.23%	Reduce -5.5%	1,493,749	-86,996
ICE	Intercontinental Exchange Inc	2023-06-30	Reduce	-0.20%	● 104.29 ($108.22) 113.08	$160.96	48.73%	Reduce -1.9%	5,944,272	-115,004
ICE	Intercontinental Exchange Inc	2024-09-30	Reduce	-0.20%	● 136.93 ($154.2) 162.81	$160.96	4.38%	Reduce -1.88%	5,012,488	-95,971
UNH	UnitedHealth Group Inc	2023-06-30	Add	+0.20%	● 458.49 ($488.72) 526.23	$610.20	24.86%	Add 2.34%	1,128,630	25,811
EXPD	Expeditors International of Washington Inc	2024-06-30	New Buy	+0.20%	● 111.31 ($119.13) 127.26	$121.64	2.11%	New holding	102,132	102,132
CACC	Credit Acceptance Corp	2023-09-30	Reduce	-0.19%	● 460.12 ($506.34) 573.28	$497.70	-1.71%	Reduce -2.94%	765,230	-23,215
META	Meta Platforms Inc	2022-12-31	Reduce	-0.19%	● 88.91 ($117.43) 140.28	$574.32	389.07%	Reduce -3.14%	2,963,720	-96,050
GOOG	Alphabet Inc	2022-12-31	Reduce	-0.19%	● 83.49 ($95.44) 104.93	$170.49	78.64%	Reduce -5.73%	2,151,988	-130,766
KMX	CarMax Inc	2024-03-31	Reduce	-0.19%	● 67.45 ($75.64) 87.11	$83.97	11.01%	Reduce -3.85%	3,968,078	-158,828
KMX	CarMax Inc	2022-12-31	Reduce	-0.19%	● 55.69 ($64.2) 74.58	$83.97	30.79%	Reduce -3.05%	6,271,401	-197,202
SCHW	Charles Schwab Corp	2023-12-31	Reduce	-0.19%	● 49.33 ($57.75) 70.98	$82.76	43.31%	Reduce -2.43%	8,470,156	-210,679
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-12-31	Reduce	-0.18%	● 85.41 ($95.37) 104.7	$184.66	93.62%	Reduce -2.98%	4,070,279	-125,036
LBRDK	Liberty Broadband Corp	2024-03-31	Reduce	-0.18%	● 55.5 ($66.14) 81.32	$85.14	28.73%	Reduce -4.6%	2,960,299	-142,717
META	Meta Platforms Inc	2024-06-30	Reduce	-0.18%	● 430.17 ($486.09) 527.34	$574.32	18.15%	Reduce -3.87%	577,470	-23,240
FWONK	Liberty Formula One Group	2023-12-31	Reduce	-0.17%	● 61.65 ($65.41) 70.9	$88.36	35.09%	Reduce -2.41%	6,722,411	-165,977
COF	Capital One Financial Corp	2023-09-30	Reduce	-0.17%	● 95.49 ($106.9) 117.96	$192.01	79.62%	Reduce -2.96%	3,302,793	-100,744
J	Jacobs Solutions Inc	2023-09-30	Reduce	-0.17%	● 119.34 ($130.26) 136.97	$141.23	8.42%	Reduce -3%	2,865,447	-88,671
GOOG	Alphabet Inc	2023-09-30	Reduce	-0.17%	● 116.87 ($130.02) 138.99	$170.49	31.13%	Reduce -4.64%	1,874,601	-91,150
BRK.A	Berkshire Hathaway Inc	2024-03-31	Reduce	-0.17%	● 545250 ($593888) 634440	$724,040.00	21.92%	Reduce -11.31%	149	-19
ELV	Elevance Health Inc	2024-09-30	Reduce	-0.17%	● 500.12 ($534.22) 562.29	$406.96	-23.82%	Reduce -1.91%	1,004,533	-19,538
CACC	Credit Acceptance Corp	2022-12-31	Reduce	-0.16%	● 407.7 ($458.79) 521.7	$497.70	8.48%	Reduce -2.93%	798,731	-24,142
GOOG	Alphabet Inc	2023-03-31	Reduce	-0.16%	● 86.77 ($96.56) 108.8	$170.49	76.56%	Reduce -5.21%	2,039,908	-112,080
GOOGL	Alphabet Inc	2024-03-31	Reduce	-0.16%	● 131.4 ($143.05) 153.51	$168.95	18.11%	Reduce -2.39%	2,904,857	-71,256
LLYVK	Liberty Live Group	2023-12-31	Sold Out	-0.16%	● 30.1 ($34.02) 37.57	$73.02	114.64%	Sold Out	0	-295,040
ELV	Elevance Health Inc	2023-03-31	Reduce	-0.16%	● 446.3 ($475.89) 502.2	$406.96	-14.48%	Reduce -2.35%	807,124	-19,399
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2022-12-31	Reduce	-0.15%	● 60.28 ($72.34) 82.98	$184.66	155.27%	Reduce -3.16%	4,504,162	-146,868
J	Jacobs Solutions Inc	2023-12-31	Reduce	-0.15%	● 122.41 ($131.62) 140.35	$141.23	7.30%	Reduce -2.32%	2,799,085	-66,362
GOOGL	Alphabet Inc	2023-12-31	Reduce	-0.15%	● 122.17 ($134.36) 141.52	$168.95	25.74%	Reduce -2.22%	2,976,113	-67,551
CACC	Credit Acceptance Corp	2023-12-31	Reduce	-0.14%	● 397.06 ($449.63) 535.45	$497.70	10.69%	Reduce -2.34%	747,356	-17,874
UNH	UnitedHealth Group Inc	2024-09-30	Reduce	-0.14%	● 488.01 ($565.61) 604.18	$610.20	7.88%	Reduce -1.78%	966,315	-17,511
BATRK	Atlanta Braves Holdings Inc	2023-12-31	Sold Out	-0.13%	● 34.19 ($36.49) 39.91	$40.35	10.58%	Sold Out	0	-224,489
BATRK	Atlanta Braves Holdings Inc	2023-09-30	New Buy	+0.13%	● 35.5 ($37.85) 42.54	$40.35	6.61%	New holding	224,489	224,489
EXPD	Expeditors International of Washington Inc	2024-09-30	Reduce	-0.13%	● 116.1 ($122.44) 131.4	$121.64	-0.65%	Reduce -66.32%	34,402	-67,730
J	Jacobs Solutions Inc	2022-12-31	Reduce	-0.13%	● 109.58 ($118.72) 126.54	$141.23	18.96%	Reduce -2.97%	2,697,117	-82,417
LBRDK	Liberty Broadband Corp	2023-09-30	Reduce	-0.13%	● 80.38 ($89.2) 95.23	$85.14	-4.55%	Reduce -3.2%	3,181,243	-105,118
GOOG	Alphabet Inc	2023-06-30	Reduce	-0.13%	● 104 ($115.57) 127.91	$170.49	47.52%	Reduce -3.64%	1,965,751	-74,157
KMX	CarMax Inc	2023-03-31	Reduce	-0.13%	● 56.26 ($66.93) 79.32	$83.97	25.46%	Reduce -2.2%	6,133,144	-138,257

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