13F

Position

Cheviot Value Management, LLC in Automatic Data Processing In

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Estimated mark uses implied 13F prices (value ÷ shares). Adds are treated as happening at this quarter’s mark; cuts at last quarter’s. Share jumps can be splits, not buys. This is not realized P&L.

Latest estimated mark −$56K$250.69$203.18

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 20251.18K$295.3K0.0%
Q1 20261.18K$239.3K$203.18−$56K$00.0%