Ruane, Cunniff & Goldfarb L.P.

New York, NY · CIK 1720792 · 13F filing filed 2025-08-14

SEC-registered investment adviser since 2017 · limited partnership

Assets managed$10.5bn
Staff52 · 12 in investment roles
Main clients (by assets)High net worth individuals 37%, Mutual funds and ETFs 36%, Pension plans 17%
Form ADV · 2026-03-31SEC adviser record

Legal entityRUANE, CUNNIFF & GOLDFARB L.P. (US)
Part of RUANE, CUNNIFF & GOLDFARB INC. (US)

$5.8bn reported value +5.9% vs Q1 2025

43positions

73.1%in top 10

6 new 7 added 17 reduced 1 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SCHWAB CHARLES CORP COM SCHW	SCHW	6,598,822	$602.1m10.32%	10.32%	Reduced -162.6k	-162,553 -2.4%
2	LIBERTY MEDIA CORP DEL COM LBTY ONE S C FWONK	FWONK	5,610,983	$586.3m10.05%	10.05%	Reduced -144.3k	-144,321 -2.5%
3	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	2,768,977	$508.0m8.71%	8.71%	Reduced -25.1k	-25,119 -0.9%
4	CAPITAL ONE FINL CORP COM COF	COF	2,117,016	$450.4m7.72%	7.72%	Reduced -13.4k	-13,398 -0.6%
5	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	1,917,681	$434.3m7.45%	7.45%	Added +51.4k	+51,388 2.8%
6	ELEVANCE HEALTH INC COM ELV	ELV	1,095,655	$426.2m7.31%	7.31%	Reduced -27.3k	-27,265 -2.4%
7	ALPHABET INC CAP STK CL A GOOGL	GOOGL	2,366,319	$417.0m7.15%	7.15%	Reduced -6.5k	-6,525 -0.3%
8	CREDIT ACCEP CORP MICH COM CACC	CACC	584,025	$297.5m5.10%	5.10%	Reduced -59.1k	-59,076 -9.2%
9	META PLATFORMS INC CL A META	META	397,558	$293.4m5.03%	5.03%	Reduced -113.4k	-113,414 -22.2%
10	ICON PLC SHS ICLR	ICLR	1,708,183	$248.5m4.26%	4.26%	Added +453.8k	+453,833 36.2%
11	UNITEDHEALTH GROUP INC COM UNH	UNH	763,439	$238.2m4.08%	4.08%	Reduced -58.7k	-58,729 -7.1%
12	ALPHABET INC CAP STK CL C GOOG	GOOG	1,286,121	$228.1m3.91%	3.91%	Reduced -42.4k	-42,388 -3.2%
13	LIBERTY BROADBAND CORP COM SER C LBRDK	LBRDK	1,889,287	$185.9m3.19%	3.19%	Reduced -494.2k	-494,166 -20.7%
14	MSA SAFETY INC COM MSA	MSA	949,067	$159.0m2.73%	2.73%	New
15	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	326,841	$158.8m2.72%	2.72%	Reduced -10.1k	-10,141 -3.0%
16	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	386,614	$158.1m2.71%	2.71%	Reduced -13.8k	-13,846 -3.5%
17	JACOBS SOLUTIONS INC COM J	J	1,072,124	$140.9m2.42%	2.42%	Reduced -104.6k	-104,619 -8.9%
18	BERKSHIRE HATHAWAY INC DEL CL A BRK.A	BRK.A	117	$85.3m1.46%	1.46%	Reduced -9	-9 -7.1%
19	LIBERTY MEDIA CORP DEL COM LBTY ONE S A FWONA	FWONA	748,343	$71.1m1.22%	1.22%	Added +7.1k	+7,113 1.0%
20	LIBERTY BROADBAND CORP COM SER A LBRDA	LBRDA	668,807	$65.4m1.12%	1.12%	Reduced -5.3k	-5,260 -0.8%
21	AMENTUM HOLDINGS INC COM AMTM	AMTM	2,441,743	$57.6m0.99%	0.99%	Added +48.7k	+48,704 2.0%
22	BIO-TECHNE CORP COM TECH	TECH	152,417	$7.8m0.13%	0.13%	New
23	EXPEDITORS INTL WASH INC COM EXPD	EXPD	21,902	$2.5m0.04%	0.04%	Unchanged
24	EQUITABLE HLDGS INC COM EQH	EQH	40,728	$2.3m0.04%	0.04%	Unchanged
25	GROUP 1 AUTOMOTIVE INC COM GPI	GPI	3,350	$1.5m0.03%	0.03%	Reduced -11	-11 -0.3%
26	LITHIA MTRS INC COM LAD	LAD	2,716	$917.5k0.02%	0.02%	Unchanged
27	NETFLIX INC COM NFLX	NFLX	606	$811.5k0.01%	0.01%	Unchanged
28	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	2,551	$775.3k0.01%	0.01%	Added +826	+826 47.9%
29	CARMAX INC COM KMX	KMX	6,280	$422.1k0.01%	0.01%	Unchanged
30	STELLANTIS N.V SHS STLA	STLA	39,677	$398.0k0.01%	0.01%	Unchanged
31	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	682	$387.4k0.01%	0.01%	Unchanged
32	MICROSOFT CORP COM MSFT	MSFT	689	$342.7k0.01%	0.01%	Added +40	+40 6.2%
33	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	4,662	$322.1k0.01%	0.01%	Added +541	+541 13.1%
34	AMERICAN EXPRESS CO COM AXP	AXP	932	$297.3k0.01%	0.01%	Unchanged
35	COPA HOLDINGS SA CL A CPA	CPA	2,555	$281.0k0.00%	0.00%	Unchanged
36	S&P GLOBAL INC COM SPGI	SPGI	531	$280.0k0.00%	0.00%	Unchanged
37	MICRON TECHNOLOGY INC COM MU	MU	2,162	$266.5k0.00%	0.00%	New
38	SINCLAIR INC CL A SBGI	SBGI	17,959	$248.2k0.00%	0.00%	Unchanged
39	DOLLAR GEN CORP NEW COM DG	DG	2,144	$245.2k0.00%	0.00%	New
40	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	1,000	$217.8k0.00%	0.00%	New
41	REPUBLIC SVCS INC COM RSG	RSG	817	$201.5k0.00%	0.00%	New
42	RIMINI STR INC DEL COM RMNI	RMNI	37,955	$143.1k0.00%	0.00%	Unchanged
43	ATAI LIFE SCIENCES NV SHS ATAI	ATAI	42,112	$92.2k0.00%	0.00%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
BUILDERS FIRSTSOURCE INC BLDR	BLDR	4,700	$587.2k4.7k shares