{
 "company": "Analog Devices",
 "ticker": "ADI",
 "page": "https://www.moatshark.com/s/adi",
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holders": [
  {
   "manager": "First Pacific Advisors (FPA)",
   "moatshark_slug": "first-pacific-advisors-fpa",
   "period": "2026-06-30",
   "portfolio_pct": 7.85,
   "value_usd": 634878628,
   "change": "REDUCE",
   "share_change_pct": -7.2,
   "quarters_held": 53
  },
  {
   "manager": "AKO Capital",
   "moatshark_slug": "ako-capital",
   "period": "2026-06-30",
   "portfolio_pct": 5.71,
   "value_usd": 245007000,
   "change": "REDUCE",
   "share_change_pct": -40.1,
   "quarters_held": 10
  },
  {
   "manager": "Cantillon Capital Management",
   "moatshark_slug": "cantillon-capital-management",
   "period": "2026-06-30",
   "portfolio_pct": 5.26,
   "value_usd": 34956520,
   "change": "REDUCE",
   "share_change_pct": -95.4,
   "quarters_held": 53
  },
  {
   "manager": "Markel Group",
   "moatshark_slug": "markel-group",
   "period": "2026-06-30",
   "portfolio_pct": 3.02,
   "value_usd": 397039330,
   "change": "REDUCE",
   "share_change_pct": -2.3,
   "quarters_held": 42
  },
  {
   "manager": "Weitz Investment Management",
   "moatshark_slug": "weitz-investment-management",
   "period": "2026-06-30",
   "portfolio_pct": 2.34,
   "value_usd": 33848813,
   "change": "REDUCE",
   "share_change_pct": -19.9,
   "quarters_held": 31
  },
  {
   "manager": "Giverny Capital",
   "moatshark_slug": "giverny-capital",
   "period": "2026-06-30",
   "portfolio_pct": 1.25,
   "value_usd": 37059933,
   "change": "REDUCE",
   "share_change_pct": -45.4,
   "quarters_held": 19
  },
  {
   "manager": "Horizon Kinetics",
   "moatshark_slug": "horizon-kinetics",
   "period": "2026-06-30",
   "portfolio_pct": 0.02,
   "value_usd": 1440306,
   "change": "REDUCE",
   "share_change_pct": -3.6,
   "quarters_held": 30
  },
  {
   "manager": "Brave Warrior Advisors",
   "moatshark_slug": "brave-warrior-advisors",
   "period": "2026-06-30",
   "portfolio_pct": 0.01,
   "value_usd": 243068,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "manager": "Dodge & Cox",
   "moatshark_slug": "dodge-cox",
   "period": "2026-06-30",
   "portfolio_pct": 0,
   "value_usd": 7629636,
   "change": "REDUCE",
   "share_change_pct": -4.1,
   "quarters_held": 20
  },
  {
   "manager": "First Eagle Investment Management",
   "moatshark_slug": "first-eagle-investment-management",
   "period": "2026-06-30",
   "portfolio_pct": 0,
   "value_usd": 0,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 45
  },
  {
   "manager": "Mairs & Power",
   "moatshark_slug": "mairs-power",
   "period": "2026-06-30",
   "portfolio_pct": 0,
   "value_usd": 202160,
   "change": "REDUCE",
   "share_change_pct": -21.5,
   "quarters_held": 2
  }
 ]
}