13F-HR 1 table.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Ruane, Cunniff & Goldfarb Inc. Address: 767 Fifth Avenue New York, New York 10153 Form 13F File Number: 28-154 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Mr. Joseph Quinones, Jr. Title: Chief Financial Officer Phone: (212) 832-5280 Signature, Place, and Date of Signing: /s/ Joseph Quinones, Jr. New York, NY 02/14/2012 _______________________ _____________________ _________ [Signature] [City, State] [Date] Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check her if no holdings reported are in this report, and all holdings are reported by other reporting manger(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: NONE 2 Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None Form 13F Information Table Entry Total: 142 Form 13F Information Table Value Total: $11,540,821 [thousands] List of Other Included Managers: NONE 3 Ruane, Cunniff & Goldfarb Inc. FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Advance Auto Parts COM 00751y106 500442 7187156 SH SOLE 4594120 2593036 Altria Group Inc COM 02209S103 2776 93624 SH SOLE 93624 American Express COM 025816109 65346 1385326 SH SOLE 554132 831194 American Public Ed Inc COM 02913V103 898 20745 SH SOLE 20000 745 Amgen COM 031162100 225 3500 SH SOLE 3500 Amphenol Corp New Cl A COM 032095101 24524 540297 SH SOLE 365120 175177 Aon Corp. COM 037389103 19969 426690 SH SOLE 425000 1690 Apple Computer COM 037833100 632 1560 SH SOLE 1560 Applied Materials COM 038222105 191 17800 SH SOLE 17800 Arch Capital Group Ltd COM g0450a105 1257 33753 SH SOLE 33753 Athenahealth Inc. COM 04685w103 12280 250000 SH SOLE 250000 Automatic Data Processing COM 053015103 251 4651 SH SOLE 4651 BP Amoco PLC ADR COM 055622104 255 5976 SH SOLE 5976 Bank of America Corp COM 060505104 69 12345 SH SOLE 12345 Becton Dickinson & Co. COM 075887109 104580 1399620 SH SOLE 895631 503989 Bed Bath & Beyond Inc COM 075896100 396 6823 SH SOLE 6823 Berkshire Hathaway - Cl A COM 084670108 1198845 10447 SH SOLE 6547 3900 Berkshire Hathaway - Cl B COM 084670702 254672 3337776 SH SOLE 1604325 1733451 Blue Earth Refineries COM G11999102 5 15000 SH SOLE 15000 Brown & Brown Inc. COM 115236101 68123 3010318 SH SOLE 2170780 839538 C H Robinson Worldwide Inc COM 12541w209 263 3770 SH SOLE 3770 CVS Corp. COM 126650100 18273 448081 SH SOLE 412000 36081 Capella Education Co. COM 139594105 2059 57110 SH SOLE 55240 1870 Caterpillar COM 149123101 6763 74643 SH SOLE 74643 Chesapeake Energy Corp COM 165167107 58114 2607185 SH SOLE 2600500 6685 ChevronTexaco Corp COM 166764100 588 5529 SH SOLE 1232 4297 City National Corp. COM 178566105 442 10000 SH SOLE 10000 Coca Cola Co. COM 191216100 28069 401155 SH SOLE 57353 343802 Comcast Corp. Spl Cl A COM 20030n200 486 20636 SH SOLE 20636 Concur Technologies Inc COM 206708109 46857 922571 SH SOLE 906800 15771 ConocoPhillips COM 20825c104 212 2912 SH SOLE 2912 Corning COM 219350105 111439 8585413 SH SOLE 5553576 3031837 Costco Wholesale Corp COM 22160k105 63126 757628 SH SOLE 316012 441616 Cousins Properties Inc. COM 222795106 82 12826 SH SOLE 12826 Cresud SACIFYA Spon ADR Repstg COM 226406106 6894 605247 SH SOLE 605247 Danaher Corp. COM 235851102 69893 1485815 SH SOLE 970220 515595 DirectTV Class A COM 25490a101 1268 29655 SH SOLE 14325 15330 Disney Walt COM 254687106 2034 54245 SH SOLE 54245 Duke Energy Corporation -Hldg COM 26441c105 201 9150 SH SOLE 9150 EOG Resources Inc. COM 26875p101 39404 400000 SH SOLE 400000 Ebay Inc COM 278642103 663 21875 SH SOLE 21500 375 El Paso Corporation COM 28336l109 269 10131 SH SOLE 10131 Emcor Group Inc COM 29084q100 56356 2102049 SH SOLE 1398744 703305 Emerson Electric COM 291011104 218 4670 SH SOLE 4670 Energizer Holdings Inc COM 29266r108 233 3011 SH SOLE 223 2788 Everest Re Group Ltd COM G3223R108 8745 104000 SH SOLE 104000 Expeditors Int'l of Wash. Inc. COM 302130109 17022 415580 SH SOLE 256500 159080 Exxon Mobil Corp COM 30231g103 14077 166084 SH SOLE 25529 140555 Fastenal Co COM 311900104 953811 21871390 SH SOLE 13755567 8115823 Fifth Third Bancorp COM 316773100 1603 125996 SH SOLE 125996 First Solar Inc COM 336433107 33328 987205 SH SOLE 648949 338256 General Electric COM 369604103 5519 308151 SH SOLE 75004 233147 Goldman Sachs Group Inc COM 38141g104 128483 1420803 SH SOLE 870144 550659 Google Inc Cl A COM 38259p508 472622 731726 SH SOLE 566099 165627 Greenlight Capital Re Ltd Cl A COM G4095J109 10457 441764 SH SOLE 441764 HDFC Bank Ltd ADR Repstg 3 Shs COM 40415f101 440 16726 SH SOLE 4700 12026 Heartland Express COM 422347104 1444 101057 SH SOLE 101057 Highwoods Properties Inc COM 431284108 387 13050 SH SOLE 13050 Home Depot COM 437076102 1103 26244 SH SOLE 26244 IAC Interactivecorp COM 44919p300 4260 100000 SH SOLE 100000 IBM COM 459200101 270859 1473023 SH SOLE 958450 514573 II VI Inc. COM 902104108 16058 874644 SH SOLE 874644 Idex Corp COM 45167R104 327 8822 SH SOLE 8822 Idexx Laboratories Corp. COM 45168D104 432528 5620168 SH SOLE 3594999 2025169 Intel Corp COM 458140100 442 18242 SH SOLE 13400 4842 JP Morgan Chase & Co. COM 46625h100 709 21321 SH SOLE 21321 Johnson & Johnson COM 478160104 1199 18281 SH SOLE 2 18279 Kraft Foods Inc Cl A COM 50075n104 2498 66853 SH SOLE 66853 Lennox International Inc. COM 526107107 1075 31841 SH SOLE 745 31096 Leucadia Nat'l COM 527288104 386 16967 SH SOLE 16967 Linear Technology Group COM 535678106 8091 269437 SH SOLE 156724 112713 Lockheed Martin Corp. COM 539830109 348 4300 SH SOLE 4300 Lowe's Companies COM 548661107 216 8514 SH SOLE 8514 Manpower COM 56418H100 21578 603580 SH SOLE 600000 3580 Mastercard Inc COM 57636q104 208098 558174 SH SOLE 333458 224716 McDonalds COM 580135101 7582 75570 SH SOLE 12144 63426 McGraw Hill COM 580645109 18251 405840 SH SOLE 400800 5040 Medco Health Solutions Inc. COM 58405u102 3718 66511 SH SOLE 30522 35989 Merck & Co. COM 58933y105 627 16639 SH SOLE 16639 Mettler-Toledo Intl Inc COM 592688105 9471 64116 SH SOLE 48749 15367 Microsoft COM 594918104 1692 65194 SH SOLE 22689 42505 Mohawk Industries COM 608190104 494118 8255936 SH SOLE 5618213 2637723 Move Inc. COM 62458m108 1574 249111 SH SOLE 241722 7389 Netflix Com Inc COM 64110l106 6929 100000 SH SOLE 100000 Nokia Corp-Sponsored ADR Repst COM 654902204 64 13345 SH SOLE 11500 1845 O Reilly Automotive Inc COM 67103h107 273493 3420804 SH SOLE 2779000 641804 Omnicom Group COM 681919106 132683 2976295 SH SOLE 1928958 1047337 Pampa Hldgs SA Spon GDR Reg S COM 697660207 6516 606180 SH SOLE 600000 6180 PepsiCo COM 713448108 4311 64969 SH SOLE 2000 62969 Perrigo Co COM 714290103 169025 1737156 SH SOLE 1064523 672633 Pfizer COM 717081103 202 9355 SH SOLE 9355 Philip Morris Intl Inc. COM 718172109 8263 105285 SH SOLE 105285 Praxair COM 74005P104 204290 1911038 SH SOLE 1256434 654604 Precision Castparts Corp COM 740189105 507580 3080163 SH SOLE 1953179 1126984 Price T Rowe Group Inc COM 74144t108 238 4175 SH SOLE 4175 Primerica Inc COM 74164M108 86472 3720825 SH SOLE 3705000 15825 Procter & Gamble COM 742718109 10071 150966 SH SOLE 150966 Progressive Corp. Ohio COM 743315103 2820 144536 SH SOLE 144536 Quicksilver Resources Inc COM 74837r104 7904 1178000 SH SOLE 1178000 Range Resources Corp COM 75281a109 102957 1662200 SH SOLE 1660000 2200 Republic Services Inc Cl A COM 760759100 560 20317 SH SOLE 714 19603 Resource America Inc Cl A COM 761195205 3709 796000 SH SOLE 796000 Ritchie Bros Auctioneers Inc COM 767744105 105080 4759050 SH SOLE 3067190 1691860 Robert Half Internat'l COM 770323103 202 7100 SH SOLE 7100 Roper Industries Inc New COM 776696106 375 4315 SH SOLE 4315 Royal Dutch Shell PLC Spon ADR COM 780259206 2630 35987 SH SOLE 35987 Royal Dutch Shell PLC Spon ADR COM 780259107 238 3127 SH SOLE 3127 SEI Investments Co COM 784117103 521 30000 SH SOLE 20000 10000 Shengkai Innovations Inc COM 82321p104 953 1512275 SH SOLE 1512275 Sherwin Williams Co. COM 824348106 464 5201 SH SOLE 5201 Simpson Manufacturing Co Inc. COM 829073105 337 10000 SH SOLE 10000 Sirona Dental Systems Inc COM 82966c103 111123 2523229 SH SOLE 1712065 811164 Sohu.com Inc COM 83408w103 5000 100000 SH SOLE 100000 Solta Med Inc. COM 83438k103 7495 2386937 SH SOLE 2386937 Stericycle Inc. COM 858912108 234 3000 SH SOLE 3000 Suntrust Banks COM 867914103 556 31386 SH SOLE 31386 TJX Cos - New COM 872540109 1112315 17231838 SH SOLE 10781287 6450551 Target Corp COM 87612e106 224954 4391921 SH SOLE 2818068 1573853 Thor Industries Inc COM 885160101 241 8781 SH SOLE 2025 6756 Trimble Navigation Ltd. COM 896239100 73477 1693019 SH SOLE 1161960 531059 U.S. Bancorp New - Del. COM 902973304 844 31216 SH SOLE 31216 Ultimate Software Group Inc COM 90385d107 19535 299990 SH SOLE 299990 Ultra Petroleum Corp. COM 903914109 14872 501940 SH SOLE 500240 1700 Union Pacific COM 907818108 256 2413 SH SOLE 2413 Valeant Pharmaceuticals Intern COM 91911k102 1693444 36269948 SH SOLE 22689677 13580271 Vanceinfo Technologies Inc ADR COM 921564100 4535 500000 SH SOLE 500000 Verisk Analytics Class A COM 92345Y106 2800 69771 SH SOLE 21604 48167 Verizon Communications COM 077853109 353 8811 SH SOLE 8811 Viacom Inc-CL B COM 92553P201 3091 68058 SH SOLE 68000 58 Visa Inc Class A COM 92826C839 128410 1264752 SH SOLE 765554 499198 Wal-Mart Stores COM 931142103 199699 3341689 SH SOLE 2045287 1296402 Walgreen COM 931422109 951 28760 SH SOLE 28760 Washington Post - Class B COM 939640108 1252 3323 SH SOLE 2000 1323 Waters Corp COM 941848103 115814 1563999 SH SOLE 1079781 484218 Wells Fargo & Co. New COM 949746101 242 8768 SH SOLE 8768 West Pharmaceutical Svcs Inc C COM 955306105 24180 637162 SH SOLE 437380 199782 Willis Group Holdings Public L COM g96666105 24976 643700 SH SOLE 640900 2800 World Fuel Services Corp COM 981475106 169108 4028289 SH SOLE 2745329 1282960 Yahoo Inc COM 984332106 8065 500000 SH SOLE 500000 Young Broadcasting Inc Cl A COM 987434107 0 144865 SH SOLE 144865 Canadian Natural Resources COM 136385101 28890 773070 SH SOLE 481684 291386 Ryanair Hldgs PLC Spon ADR COM 783513104 534 19166 SH SOLE 1554 17612