Ruane, Cunniff & Goldfarb - Sequoia Fund 13F Activity & Position Changes (Q4 2019)

As of Dec 31, 2019, the Sequoia Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 15, 2026. 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 Q4 2019, the filing reported:

New Buys - Taiwan Semiconductor Manufactur, UnitedHealth Group Incorporated

Increases - Arista Networks, Inc., Builders FirstSource, Inc., Berkshire Hathaway Inc. New, Credit Acceptance Corporation, Wayfair Inc.

Reductions - American Electric Power Company, Amazon.com, Inc., Alibaba Group Holding Limited, Booking Holdings Inc. Common St, Berkshire Hathaway Inc., and 18 more

Complete Exits - Apple Inc., Costco Wholesale Corporation, IDEXX Laboratories, Inc.

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
Q4 2019	AAPL Apple Inc.	Apple Inc.	Sell - Position Exit	-1,000	-100.0%	$0.00	-
Q4 2019	AEP American Electric Power Company	American Electric Power Company	Sell	-3,474	-28.1%	$840.00	8,892
Q4 2019	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-58,821	-27.3%	$289.06K	156,429
Q4 2019	ANET Arista Networks, Inc.	Arista Networks, Inc.	Buy	+1,737,124	+48253.4%	$354.06K	1,740,724
Q4 2019	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell	-93	-4.6%	$413.00	1,945
Q4 2019	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Sell	-8,014	-4.6%	$342.96K	166,995
Q4 2019	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Buy	+130	+0.2%	$1.86K	73,121
Q4 2019	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-307	-13.8%	$649.30K	1,912
Q4 2019	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+76,442	+5.6%	$325.23K	1,435,893
Q4 2019	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Buy	+72,055	+6.7%	$509.37K	1,151,564
Q4 2019	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell - Position Exit	-2,415	-100.0%	$0.00	-
Q4 2019	EIX Edison International	Edison International	Sell	-3,523	-24.3%	$826.00	10,957
Q4 2019	FWONK Liberty Media Corp Formula One Group	Liberty Media Corp Formula One Group	Sell	-1,943,166	-16.1%	$466.64K	10,152,070
Q4 2019	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-26,492	-3.5%	$970.84K	726,125
Q4 2019	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-2,245	-0.8%	$369.73K	276,043
Q4 2019	IDXX IDEXX Laboratories, Inc.	IDEXX Laboratories, Inc.	Sell - Position Exit	-1,146	-100.0%	$0.00	-
Q4 2019	JD JD.com, Inc.	JD.com, Inc.	Sell	-986	-7.6%	$423.00	12,000
Q4 2019	KMX CarMax Inc	CarMax Inc	Sell	-1,873,006	-19.1%	$697.04K	7,950,740
Q4 2019	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Sell	-5,271	-27.0%	$789.00	14,260
Q4 2019	LBRDA Liberty Broadband Corporation	Liberty Broadband Corporation	Sell	-14,240	-1.4%	$125.72K	1,009,350
Q4 2019	LBRDK Liberty Broadband Corporation	Liberty Broadband Corporation	Sell	-184,016	-5.9%	$367.69K	2,923,967
Q4 2019	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-48,391	-3.4%	$409.44K	1,371,235
Q4 2019	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-41,339	-1.8%	$466.70K	2,273,800
Q4 2019	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Sell	-1,391,464	-99.0%	$1.91K	14,009
Q4 2019	PG Procter & Gamble Company (The)	Procter & Gamble Company (The)	Sell	-2,534	-27.7%	$825.00	6,602
Q4 2019	SCHW Charles Schwab Corporation (The	Charles Schwab Corporation (The	Sell	-155,042	-1.8%	$406.54K	8,548,008
Q4 2019	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Sell	-9,040	-52.6%	$497.00	8,141
Q4 2019	TSM Taiwan Semiconductor Manufactur	Taiwan Semiconductor Manufactur	Buy - Position Entry	+2,982,431	-	$173.28K	2,982,431
Q4 2019	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Buy - Position Entry	+359,157	-	$105.58K	359,157
Q4 2019	UNP Union Pacific Corporation	Union Pacific Corporation	Sell	-1,686	-26.5%	$843.00	4,665

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