Ruane, Cunniff & Goldfarb - Sequoia Fund 13F Activity & Position Changes (Q1 2019)

According to the SEC 13F filed on Aug 14, 2026, the Sequoia Fund portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2019. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2019, the filing reported:

New Buys - CarGurus, Inc.

Increases - Alibaba Group Holding Limited, Booking Holdings Inc. Common St, Builders FirstSource, Inc., Credit Acceptance Corporation, Domo, Inc., and 3 more

Reductions - Amazon.com, Inc., Berkshire Hathaway Inc., Berkshire Hathaway Inc. New, Costco Wholesale Corporation, D.R. Horton, Inc., and 21 more

Complete Exits - Fastenal Company, Floor & Decor Holdings, Inc., Meritage Homes Corporation, O'Reilly Automotive, Inc., Progressive Corporation (The), and 2 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2019	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-8,178	-2.5%	$575.27K	323,048
Q1 2019	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Buy	+40,000	+3.5%	$218.03K	1,195,000
Q1 2019	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Buy	+9,944	+5.9%	$311.43K	178,478
Q1 2019	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Buy	+10,000	+0.1%	$115.70K	8,673,480
Q1 2019	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-192	-7.8%	$684.36K	2,272
Q1 2019	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-153,732	-9.8%	$284.33K	1,415,348
Q1 2019	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Buy	+11,552	+1.1%	$493.96K	1,093,002
Q1 2019	CARG CarGurus, Inc.	CarGurus, Inc.	Buy - Position Entry	+354,437	-	$14.20K	354,437
Q1 2019	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-114	-3.8%	$705.00	2,911
Q1 2019	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Sell	-100,000	-20.8%	$15.72K	380,000
Q1 2019	DOMO Domo, Inc.	Domo, Inc.	Buy	+20,059	+3.1%	$27.02K	670,059
Q1 2019	EA Electronic Arts Inc.	Electronic Arts Inc.	Sell	-3,478,965	-99.9%	$384.00	3,780
Q1 2019	EIX Edison International	Edison International	Sell	-4,012	-15.8%	$1.32K	21,353
Q1 2019	EXPD Expeditors International of Was	Expeditors International of Was	Sell	-7,135	-6.5%	$7.75K	102,132
Q1 2019	FAST Fastenal Company	Fastenal Company	Sell - Position Exit	-5,026	-100.0%	$0.00	-
Q1 2019	FND Floor & Decor Holdings, Inc.	Floor & Decor Holdings, Inc.	Sell - Position Exit	-476,767	-100.0%	$0.00	-
Q1 2019	FWONK Liberty Media Corp Formula One Group	Liberty Media Corp Formula One Group	Sell	-602,937	-4.7%	$433.31K	12,362,737
Q1 2019	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-48,916	-6.1%	$890.47K	758,939
Q1 2019	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-3,456	-0.4%	$965.41K	820,306
Q1 2019	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-446	-28.0%	$256.00	1,146
Q1 2019	JD JD.com, Inc.	JD.com, Inc.	Sell	-450,000	-5.2%	$247.63K	8,213,319
Q1 2019	KMX CarMax Inc	CarMax Inc	Sell	-161,059	-1.4%	$800.45K	11,467,735
Q1 2019	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-10,242	-30.9%	$1.07K	22,888
Q1 2019	LBRDA Liberty Broadband Corporation	Liberty Broadband Corporation	Sell	-69,382	-6.2%	$95.50K	1,042,121
Q1 2019	LBRDK Liberty Broadband Corporation	Liberty Broadband Corporation	Sell	-217,936	-6.4%	$292.24K	3,185,544
Q1 2019	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-9,158	-0.5%	$474.27K	2,014,297
Q1 2019	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-634,410	-22.9%	$356.62K	2,139,400
Q1 2019	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Buy	+67,516	+5.0%	$178.84K	1,417,710
Q1 2019	MTH Meritage Homes Corporation	Meritage Homes Corporation	Sell - Position Exit	-470,000	-100.0%	$0.00	-
Q1 2019	ORLY O'Reilly Automotive, Inc.	O'Reilly Automotive, Inc.	Sell - Position Exit	-874	-100.0%	$0.00	-

Page 1 of 2