Gottscho Capital Management's Q3 2026 Investment Activity: Focus on Cava Group, Micron, and Alphabet Inc.

Norman Fields, through his investment vehicle Gottscho Capital Management, has reported notable changes in its portfolio holdings for the quarter ending September 30, 2026. The firm's investment strategy appears focused on capitalizing on specific opportunities within certain sectors, as evidenced by the significant shifts in its stock positions.

Major Purchases This Quarter

Gottscho Capital Management demonstrated substantial buying activity during Q3 2026. The firm significantly increased its stake in several companies, most notably Cava Group, Inc. (CAVA), where the number of shares rose by 197.92%. Similarly, SLB Limited (SLB) saw its share count increase by 60.52%, and Lennar Corp Cl A (LEN) experienced a 126.86% jump in holdings. These large acquisitions suggest confidence in the growth potential of these companies.

Additionally, the firm made notable purchases in other areas. For instance, Ishares Core S&P 500 (IVV), an ETF, was added to the portfolio with a 100% increase in shares. The firm also invested in Agilent Technologies (A), acquiring shares despite a slight decrease in its allocation percentage later in the quarter, and in Packaging Corp of America (PKG), which was a new position.

Decreases and Exits in Holdings

While the firm showed strong buying power, it also made adjustments to some of its existing positions. Several holdings saw a decrease in the number of shares owned during the quarter. Notably, Berkshire Hathaway B (BRK-B) experienced a 3.14% reduction in shares, and Apple Inc. (AAPL) remained flat, but other top holdings like Costco (COST) and Visa (V) saw slight decreases.

The firm also completely exited certain positions. The Fairfax India Holdings Corpora ETF (FFXDF) was sold entirely, resulting in a 9.58% reduction in its prior period share count. Similarly, the position in Alphabet Inc. Class A (GOOGL) was fully disposed of, accounting for 0.83% of the portfolio value and a 0.83% reduction in its allocation percentage.

Overall Portfolio Changes

The portfolio now holds 58 distinct positions, reflecting a dynamic approach to investing. The top five holdings by weight account for approximately 55.23% of the total portfolio value, with Berkshire Hathaway B (BRK-B) remaining the largest position at 14.15%, followed by Costco (COST) at 15.83%. Other significant holdings include Union Pacific (UNP), Amazon.com (AMZN), and Apple Inc. (AAPL).

The changes observed this quarter indicate a mix of strategic additions and reductions. The significant purchases in CAVA, SLB, and LEN suggest a focus on companies with strong recent performance or potential for growth. The exits from FFFXDF, GOOGL, and the decreases in other large holdings might reflect a rebalancing strategy or a shift in confidence based on market conditions or internal analysis.