Clipper Fund
Portfolio holdings sorted alphabetically as of December 31, 2021

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Security DescriptionSymbol
AIA Group Ltd. 1299 HK
Alibaba Group Holding Ltd. BABA
Alphabet, Inc. GOOGL/GOOG
Amazon.com, Inc. AMZN
American Express Co. AXP
Applied Materials, Inc. AMAT
ASAC II L.P. -----
Bank of America Corp. BAC
Bank of New York Mellon Corp. BK
Berkshire Hathaway, Inc. BRK A
Capital One Financial Corp. COF
Carrier Global Corp. CARR
Cigna Corp. CI
DBS Group Holdings Ltd. DBS SP
DiDi Global, Inc. DIDI
Security DescriptionSymbol
Intel Corp. INTC
JD.com, Inc. JD
JPMorgan Chase & Co. JPM
Markel Corp. MKL
Meta Platforms, Inc. FB
Naspers Ltd. NPN SJ
Ping An Insurance (Group) 2318 HK
Prosus N.V. PRX NA
Quest Diagnostics, Inc. DGX
Teck Resources Ltd. TECK
U.S. Bancorp USB
Viatris, Inc. VTRS
Vroom, Inc. VRM
Wells Fargo & Co. WFC

* Portfolio holdings are subject to change. The holdings above may not represent the entire portfolio. For a complete listing of portfolio holdings review the most recent Annual Report, Semi-Annual report or Form NQ.