Ruane, Cunniff & Goldfarb - Sequoia Fund 13F Activity & Position Changes (Q3 2018)

According to the SEC 13F filed on Aug 14, 2026, the Sequoia Fund portfolio showed several notable changes in holdings as of quarter-end Sep 30, 2018. 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 Q3 2018, the filing reported:

New Buys - Apple Inc., Alibaba Group Holding Limited, CarGurus, Inc., Rimini Street, Inc.

Increases - Builders FirstSource, Inc., D.R. Horton, Inc., iQIYI, Inc., JD.com, Inc., Brasilagro Brazilian Agric Real, and 5 more

Reductions - Amazon.com, Inc., Booking Holdings Inc. Common St, Berkshire Hathaway Inc., Berkshire Hathaway Inc. New, Credit Acceptance Corporation, and 21 more

Complete Exits - None reported

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
Q3 2018	AAPL Apple Inc.	Apple Inc.	Buy - Position Entry	+1,000	-	$226.00	1,000
Q3 2018	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-136,758	-28.3%	$693.32K	346,141
Q3 2018	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Buy - Position Entry	+300,000	-	$49.43K	300,000
Q3 2018	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Sell	-3,386	-1.9%	$338.48K	170,604
Q3 2018	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Buy	+2,005,517	+35.8%	$111.76K	7,612,894
Q3 2018	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-81	-2.8%	$913.60K	2,855
Q3 2018	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-59,498	-4.1%	$297.56K	1,389,778
Q3 2018	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Sell	-13,658	-1.2%	$475.98K	1,086,536
Q3 2018	CARG CarGurus, Inc.	CarGurus, Inc.	Buy - Position Entry	+5,248	-	$292.00	5,248
Q3 2018	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell	-456	-2.2%	$4.76K	20,253
Q3 2018	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Buy	+200,000	+40.0%	$29.53K	700,000
Q3 2018	EIX Edison International	Edison International	Sell	-1,000	-3.3%	$1.97K	29,165
Q3 2018	FWONK Liberty Media Corporation - Ser	Liberty Media Corporation - Ser	Sell	-2,400,670	-16.0%	$468.50K	12,597,531
Q3 2018	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-11,938	-1.4%	$1.01M	842,906
Q3 2018	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-4,915	-0.6%	$996.53K	825,570
Q3 2018	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell	-197	-11.0%	$397.00	1,592
Q3 2018	IQ iQIYI, Inc.	iQIYI, Inc.	Buy	+83,000	+13.2%	$19.30K	713,000
Q3 2018	JD JD.com, Inc.	JD.com, Inc.	Buy	+2,621,129	+43.5%	$225.71K	8,651,287
Q3 2018	KMX CarMax Inc	CarMax Inc	Sell	-207,305	-1.7%	$876.84K	11,742,799
Q3 2018	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-1,000	-2.7%	$1.69K	36,630
Q3 2018	LBRDA Liberty Broadband Corporation	Liberty Broadband Corporation	Sell	-12,324	-1.1%	$95.27K	1,129,707
Q3 2018	LBRDK Liberty Broadband Corporation	Liberty Broadband Corporation	Sell	-51,539	-1.5%	$292.25K	3,466,789
Q3 2018	LND Brasilagro Brazilian Agric Real	Brasilagro Brazilian Agric Real	Buy	+5,505	+40.9%	$63.00	18,965
Q3 2018	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-615,188	-21.7%	$493.18K	2,215,460
Q3 2018	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+377,237	+15.4%	$465.06K	2,827,809
Q3 2018	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Sell	-18,634	-1.3%	$239.13K	1,363,721
Q3 2018	MTH Meritage Homes Corporation	Meritage Homes Corporation	Buy	+66,200	+15.0%	$20.28K	508,200
Q3 2018	NBIS Nebius Group	Nebius Group	Buy	+315,000	+52.9%	$29.93K	910,000
Q3 2018	OMC Omnicom Group Inc.	Omnicom Group Inc.	Sell	-3,660	-27.9%	$644.00	9,466
Q3 2018	ORLY O'Reilly Automotive, Inc.	O'Reilly Automotive, Inc.	Buy	+36	+0.3%	$4.54K	13,087

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