Norman Fields, Gottscho Capital Management, LLC
Long book
$302.5M
Q1 2026
Positions
65
Top-10 weight
71%
concentration
Last quarter
+12.0%
SPY +14.8%
Turnover
12%
of book per quarter
Strategy in plain words
auto-generated from filingsNorman Fields, Gottscho Capital Management, LLC is a diversified fundamental manager, running a $302.5M US long book across 65 positions.
The portfolio is concentrated: the top 10 names carry 71% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: COSTCO WHOLESALE CORP, BERKSHIRE HATHAWAY INC-CL B, APPLE INC, VISA INC-CLASS A SHARES, AMERICAN EXPRESS CO.
Over the last 9 quarters its long book ran on average 0.8pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.9%
Q2 2024
+7.7%
Q3 2024
+2.4%
Q4 2024
+0.4%
Q1 2025
+1.5%
Q2 2025
+4.1%
Q3 2025
+3.0%
Q4 2025
-2.2%
Q1 2026
+12.0%
Sector allocation
Consumer discretionary 27%
Financials 20%
Technology 19%
Services media 14%
Other 11%
Industrials 7%
Healthcare 2%
Energy 0%
Long book by quarter
What does Norman Fields, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 57.2K | $57.0M | 18.8% | 0.0% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 98.4K | $47.2M | 15.6% | -1.7% |
| AAPL APPLE INC | Technology | 111.0K | $28.2M | 9.3% | -4.0% |
| V VISA INC-CLASS A SHARES | Services media | 92.6K | $28.0M | 9.2% | -0.1% |
| AXP AMERICAN EXPRESS CO | Financials | 34.4K | $10.4M | 3.4% | +2.4% |
| GOOG ALPHABET INC-CL C | Technology | 33.4K | $9.6M | 3.2% | Held |
| FWONKUSD LIBERTY MEDIA CORP-LIBERTY-C | — | 109.1K | $9.3M | 3.1% | +0.7% |
| UNP UNION PACIFIC CORP | Industrials | 38.2K | $9.3M | 3.1% | +1.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 41.9K | $8.7M | 2.9% | +0.3% |
| MA MASTERCARD INC - A | Services media | 17.2K | $8.6M | 2.8% | -0.6% |
| GOOGL ALPHABET INC-CL A | Technology | 25.4K | $7.3M | 2.4% | -3.7% |
| PKG PACKAGING CORP OF AMERICA | Other | 34.0K | $7.2M | 2.4% | -1.0% |
| BATRKUSD LIBERTY MEDIA CORP-BRAVES C | — | 151.8K | $6.5M | 2.1% | -2.9% |
| ONON ON HOLDING AG-CLASS A | Other | 149.5K | $5.1M | 1.7% | -3.5% |
| MU MICRON TECHNOLOGY INC | Technology | 12.4K | $4.2M | 1.4% | +4.2% |
| WCC WESCO INTERNATIONAL INC | Consumer discretionary | 13.8K | $3.8M | 1.2% | Held |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 14.8K | $3.4M | 1.1% | Held |
| RTX RTX CORP | Industrials | 17.4K | $3.4M | 1.1% | Held |
| CAVA CAVA GROUP INC | Consumer discretionary | 33.2K | $2.7M | 0.9% | +14.5% |
| FFXDF FAIRFAX INDIA HO-SUB VTG SHS | — | 147.7K | $2.4M | 0.8% | +15.6% |
| LHX L3HARRIS TECHNOLOGIES INC | Technology | 5.4K | $1.9M | 0.6% | +3.9% |
| SBUX STARBUCKS CORP | Consumer discretionary | 16.9K | $1.5M | 0.5% | -3.4% |
| GHC GRAHAM HOLDINGS CO-CLASS B | Services media | 1.4K | $1.5M | 0.5% | -0.1% |
| TER TERADYNE INC | Technology | 4.7K | $1.4M | 0.5% | -19.3% |
| LLY ELI LILLY & CO | Healthcare | 1.5K | $1.4M | 0.5% | Held |
| DE DEERE & CO | Industrials | 2.4K | $1.3M | 0.4% | Held |
| MSFT MICROSOFT CORP | Technology | 3.5K | $1.3M | 0.4% | -3.6% |
| A AGILENT TECHNOLOGIES INC | Healthcare | 11.0K | $1.3M | 0.4% | +2.8% |
| NOC NORTHROP GRUMMAN CORP | Technology | 1.7K | $1.2M | 0.4% | Held |
| DHI DR HORTON INC | Industrials | 7.6K | $1.0M | 0.3% | Held |
| LMT LOCKHEED MARTIN CORP | Industrials | 1.5K | $905K | 0.3% | -5.1% |
| NSC NORFOLK SOUTHERN CORP | Industrials | 3.1K | $904K | 0.3% | Held |
| ABBV ABBVIE INC | Healthcare | 3.6K | $777K | 0.3% | Held |
| ABT ABBOTT LABORATORIES | Healthcare | 7.5K | $768K | 0.3% | Held |
| JNJ JOHNSON & JOHNSON | Healthcare | 3.1K | $759K | 0.3% | Held |
| EADSF AIRBUS SE | — | 3.8K | $714K | 0.2% | Held |
| AMRZ AMRIZE LTD | Industrials | 11.0K | $618K | 0.2% | +13.3% |
| MGRC MCGRATH RENTCORP | Services media | 5.5K | $612K | 0.2% | Held |
| EFX EQUIFAX INC | Services media | 3.0K | $540K | 0.2% | -16.7% |
| KEX KIRBY CORP | Industrials | 4.0K | $532K | 0.2% | Held |
| NVDA NVIDIA CORP | Technology | 2.9K | $501K | 0.2% | Held |
| MKL MARKEL GROUP INC | Financials | 250 | $479K | 0.2% | Held |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 12.5K | $473K | 0.2% | +16.8% |
| POOL POOL CORP | Consumer discretionary | 2.2K | $441K | 0.1% | +22.1% |
| UHAL/B U-HAUL HOLDING CO-NON VOTING | Services media | 9.2K | $413K | 0.1% | +2.3% |
| ABNB AIRBNB INC-CLASS A | Services media | 3.0K | $378K | 0.1% | -1.6% |
| CVX CHEVRON CORP | Energy | 1.7K | $360K | 0.1% | +13.0% |
| SLB SLB LTD | Energy | 6.8K | $349K | 0.1% | New |
| CHWY CHEWY INC - CLASS A | Consumer discretionary | 12.3K | $332K | 0.1% | New |
| SPRY ARS PHARMACEUTICALS INC | Healthcare | 39.9K | $320K | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 2, 2026 | 65 | $302.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 7, 2026 | 61 | $310.3M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 9, 2025 | 64 | $312.9M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 9, 2025 | 64 | $302.2M | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 3, 2025 | 58 | $297.2M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 7, 2025 | 58 | $303.9M | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 1, 2024 | 61 | $302.1M | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 11, 2024 | 57 | $285.8M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 5, 2024 | 58 | $268.4M | $K fixed canonical | SEC ↗ |
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