FARLEY CAPITAL L.P.

Key Holdings

The portfolio is dominated by large-cap growth and quality compounders.

• Mastercard (MA): This is the firm's largest holding, comprising 39.48% of the portfolio ($37.52M). Despite a minor reduction of 0.1%, Mastercard remains the anchor position, indicating a strong long-term belief in the durability of the payments network.
• Alphabet Inc. (GOOG & GOOGL): Farley Capital maintains a dual-class share structure position in Alphabet. Combined, the Class C (GOOG) and Class A (GOOGL) shares total over $36 million, representing roughly 38% of the portfolio. GOOG is the second-largest individual holding at 34.88%. The firm reduced both classes this quarter (GOOG by 5.6% and GOOGL by 7.5%), likely taking profits or managing exposure after strong performance.
• Meta Platforms (META): The third-largest position ($7.95M, 8.36%), Meta saw a significant reduction of 23.3%. This trim reduces the portfolio's exposure to the volatile social media sector while maintaining meaningful exposure to the digital advertising giant.
• Adtalem Global Education (ATGE): This is a notable contrarian or value-oriented play within the Consumer Defensive sector, making up nearly 6% of the portfolio. It represents a divergence from the mega-cap tech theme seen in the top three holdings.