Giverny Capital Inc. — Inside Their 13F Portfolio

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$2.7B

Reporting period: 2026-03-31 · Number of holdings: 51

Giverny Capital Inc. disclosed 51 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.7B and a quarterly turnover rate of 23.3%.

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Personality snowflake

Concentration: 16.45
Portfolio Stability: 23.27
Momentum/Contrarian: 96.31
Sector conviction: 64.95
Diversification: 100
Sizing Uniformity: 89.42

Recent moves

Trim AME
-37.5%　-$69.9M
Trim BRK-B
-25.2%　-$72.9M
Add FIVE
-3.2%　$20.9M
Add KEYS
-3.3%　$23.4M
Add BFAM
+81.0%　$19.4M
Trim HEI-A
-2.1%　-$34.6M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	6.64%	-1.84%	-25.17%
2	GOOG	Alphabet Inc-cl C	Stock-Comm Services	6.52%	-0.17%	-2.91%
3	META	Meta Platforms Inc-class A	Stock-Comm Services	6.45%	-0.45%	-1.80%
4	HEI-A	Heico Corp-class A	Stock-Other	5.71%	-0.64%	-2.13%
5	SCHW	Schwab (charles) CORP	Stock-Financials	5.29%	+0.01%	-3.12%
6	FIVE	Five Below	Stock-Consumer Disc	5.16%	+1.15%	-3.22%
7	AME	Ametek INC	Stock-Industrials	4.80%	-1.91%	-37.51%
8	MEDP	Medpace Holdings INC	Stock-Healthcare	4.50%	-0.43%	-2.75%
9	V	Visa Inc-class A Shares	Stock-Financials	4.39%	-0.38%	-2.70%
10	IBP	Installed Building Products	Stock-Consumer Disc	3.92%	-0.57%	-22.26%
11	PGR	Progressive CORP	Stock-Financials	3.83%	-0.25%	-1.58%
12	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	3.67%	-0.10%	-3.58%
13	KEYS	Keysight Technologies In	Stock-Tech	3.34%	+1.08%	-3.25%
14	NVR	Nvr INC	Stock-Consumer Disc	3.29%	-0.14%	-3.30%
15	BKNG	Booking Holdings INC	Stock-Consumer Disc	3.26%	-0.57%	-1.53%
16	ADP	Automatic Data Processing	Stock-Tech	3.12%	+3.12%	NEW
17	MKL	Markel Group INC	Stock-Financials	3.01%	-0.14%	-2.35%
18	KNSL	Kinsale Capital Group INC	Stock-Financials	2.74%	-0.06%	+2.18%
19	BFAM	Bright Horizons Family Solut	Stock-Consumer Disc	2.23%	+0.84%	+80.97%
20	OZK	Bank Ozk	Stock-Financials	2.07%	+0.13%	-2.61%
21	ADI	Analog Devices INC	Stock-Tech	1.99%	+0.39%	-3.22%
22	ANET	Arista Networks INC	Stock-Tech	1.90%	+0.07%	+1.00%
23	DIS	Walt Disney Co/the	Stock-Comm Services	1.89%	-0.18%	-1.45%
24	RMD	Resmed INC	Stock-Healthcare	1.89%	—	-2.29%
25	BRO	Brown & Brown INC	Stock-Financials	1.80%	-0.25%	-2.23%
26	LFUS	Littelfuse INC	Stock-Tech	1.00%	+0.31%	-1.06%
27	LULU	Lululemon Athletica INC	Stock-Consumer Disc	0.80%	-0.20%	-1.13%
28	SUNB	Sunbelt Rentals Holdings INC	Stock-Industrials	0.65%	+0.65%	NEW
29	AAON	Aaon INC	Stock-Industrials	0.61%	+0.61%	NEW
30	JPM	Jpmorgan Chase & Co	Stock-Financials	0.56%	—	+0.89%
31	MA	Mastercard INC - A	Stock-Financials	0.51%	-0.04%	-2.41%
32	FND	Floor & Decor Holdings Inc-a	Stock-Consumer Disc	0.43%	-0.05%	-1.72%
33	TWFG	Twfg INC	Stock-Other	0.37%	+0.05%	+66.54%
34	FERG	Ferguson Enterprises INC	Stock-Industrials	0.31%	+0.04%	+0.97%
35	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	0.29%	+0.01%	—
36	BLDR	Builders Firstsource INC	Stock-Industrials	0.28%	-0.03%	+2.03%
37	AAPL	Apple INC	Stock-Tech	0.14%	-0.01%	-8.95%
38	TSM	Taiwan Semiconductor-sp Adr	Stock-Tech	0.10%	-0.06%	-49.44%
39	YUMC	Yum China Holdings INC	Stock-Consumer Disc	0.06%	—	—
40	GLD	Spdr Gold Shares	ETF-Commodities	0.06%	+0.01%	—
41	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.06%	—	—
42	MTB	M & T Bank CORP	Stock-Financials	0.06%	—	-0.07%
43	RSP	Invesco S&p 500 Equal Weight	ETF-Large Cap & Growth	0.04%	+0.04%	NEW
44	QQQM	Invesco Nasdaq 100 ETF	ETF-Tech	0.04%	+0.04%	NEW
45	ITB	Ishares U.s. Home Constructi	ETF-Other	0.04%	—	-7.21%
46	BIRK	Birkenstock Holding plc	Stock-Other	0.04%	—	—
47	ODFL	Old Dominion Freight Line	Stock-Industrials	0.04%	+0.01%	-4.74%
48	CPRT	Copart INC	Stock-Industrials	0.03%	-0.01%	—
49	MSFT	Microsoft CORP	Stock-Tech	0.03%	—	+12.09%
50	SITE	Siteone Landscape Supply INC	Stock-Industrials	0.02%	—	—

1–50 of 51

Portfolio Performance

Performance for Q3 2026

-0.5%

Performance Last 4 Quarters

+8.1%

Based on 78% of reported portfolio value with available pricing

Stdev: +17%
Beta: +1.04
Alpha: -7.4%
Max Drawdown: -13%
Annualized Perf: +10.9%
Batting Avg vs S&P: +44.4%
Sortino: +1.18
Stutzer: +0.2
Treynor: +0.11
Sterling: +0.53
Calmar: +0.83
Information Ratio: -0.65
Tracking Error: +10.3%
Stdev Down: +10%
Winning Months %: +58.3%
Losing Months %: +41.7%
Best 12 Months: +39%
Worst 12 Months: -2.5%
Efficiency Ratio: +0.25
Sharpe: +0.69
Stdev Sectors: +9.1%
Skewness: +0.02
Kurtosis: -0.71
Upside Potential: +3.04

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	51	$2.7B	23	1BRK-B 2GOOG 3META Top holdings2026-03-31 1.BRK-B 2.GOOG 3.META 4.HEI-A 5.SCHW 6.FIVE 7.AME 8.MEDP 9.V 10.IBP
2025-12-31	50	$3.0B	17	1BRK-B 2META 3AME Top holdings2025-12-31 1.BRK-B 2.META 3.AME 4.GOOG 5.HEI-A 6.SCHW 7.MEDP 8.V 9.IBP 10.PGR
2025-09-30	52	$3.0B	35	1BRK-B 2META 3HEI-A Top holdings2025-09-30 1.BRK-B 2.META 3.HEI-A 4.AME 5.GOOG 6.SCHW 7.V 8.MEDP 9.PGR 10.IBP
2025-06-30	55	$2.9B	0	1BRK-B 2META 3HEI-A Top holdings2025-06-30 1.BRK-B 2.META 3.HEI-A 4.AME 5.SCHW 6.V 7.PGR 8.BKNG 9.GOOG 10.FISV
2025-03-31	54	$2.7B	0	1BRK-B 2META 3AME Top holdings2025-03-31 1.BRK-B 2.META 3.AME 4.HEI-A 5.PGR 6.FISV 7.V 8.KMX 9.GOOG 10.NVR
2024-12-31	62	$2.7B	0	1BRK-B 2META 3AME Top holdings2024-12-31 1.BRK-B 2.META 3.AME 4.HEI-A 5.KMX 6.PGR 7.FISV 8.V 9.GOOG 10.NVR
2024-09-30	52	$2.6B	0	1BRK-B 2META 3AME Top holdings2024-09-30 1.BRK-B 2.META 3.AME 4.HEI-A 5.PGR 6.NVR 7.KMX 8.IBP 9.GOOG 10.V
2024-06-30	50	$2.4B	0	1BRK-B 2AME 3META Top holdings2024-06-30 1.BRK-B 2.AME 3.META 4.HEI-A 5.GOOG 6.KMX 7.PGR 8.V 9.NVR 10.IBP
2024-03-31	51	$2.5B	0	1BRK-B 2AME 3META Top holdings2024-03-31 1.BRK-B 2.AME 3.META 4.KMX 5.MKL 6.FIVE 7.IBP 8.HEI-A 9.PGR 10.V
2023-12-31	58	$2.1B	0	1BRK-B 2AME 3FIVE Top holdings2023-12-31 1.BRK-B 2.AME 3.FIVE 4.KMX 5.MKL 6.META 7.HEI-A 8.V 9.GOOG 10.NVR
2023-09-30	59	$1.8B	0	1BRK-B 2AME 3MKL Top holdings2023-09-30 1.BRK-B 2.AME 3.MKL 4.GOOG 5.KMX 6.FIVE 7.HEI-A 8.V 9.META 10.NVR
2023-06-30	59	$1.9B	0	1BRK-B 2AME 3KMX Top holdings2023-06-30 1.BRK-B 2.AME 3.KMX 4.FIVE 5.MKL 6.GOOG 7.HEI-A 8.V 9.META 10.NVR
2023-03-31	60	$1.7B	0	1BRK-B 2FIVE 3AME Top holdings2023-03-31 1.BRK-B 2.FIVE 3.AME 4.MKL 5.KMX 6.GOOG 7.HEI-A 8.V 9.KEYS 10.PGR
2022-12-31	66	$1.6B	0	1BRK-B 2AME 3FIVE Top holdings2022-12-31 1.BRK-B 2.AME 3.FIVE 4.MKL 5.SCHW 6.KMX 7.HEI-A 8.KEYS 9.GOOG 10.V
2022-09-30	63	$1.5B	0	1BRK-B 2AME 3MKL Top holdings2022-09-30 1.BRK-B 2.AME 3.MKL 4.SCHW 5.GOOG 6.FIVE 7.KMX 8.HEI-A 9.KEYS 10.V
2022-06-30	63	$1.5B	0	1BRK-B 2KMX 3MKL Top holdings2022-06-30 1.BRK-B 2.KMX 3.MKL 4.GOOG 5.AME 6.SCHW 7.HEI-A 8.V 9.FIVE 10.PGR
2022-03-31	63	$1.8B	0	1BRK-B 2GOOG 3MKL Top holdings2022-03-31 1.BRK-B 2.GOOG 3.MKL 4.KMX 5.AME 6.SCHW 7.HEI-A 8.PGR 9.FIVE 10.V
2021-12-31	64	$1.9B	0	1BRK-B 2KMX 3AME Top holdings2021-12-31 1.BRK-B 2.KMX 3.AME 4.GOOG 5.SCHW 6.MKL 7.NVR 8.KEYS 9.PGR 10.META
2021-09-30	59	$1.7B	0	1BRK-B 2KMX 3GOOG Top holdings2021-09-30 1.BRK-B 2.KMX 3.GOOG 4.AME 5.MKL 6.META 7.SCHW 8.V 9.NVR 10.PGR
2021-06-30	57	$1.6B	95	1BRK-B 2KMX 3AME Top holdings2021-06-30 1.BRK-B 2.KMX 3.AME 4.GOOG 5.MKL 6.META 7.V 8.SCHW 9.PGR 10.NVR
2021-03-31	53	$1.5B	15	1BRK-B 2KMX 3AME Top holdings2021-03-31 1.BRK-B 2.KMX 3.AME 4.MKL 5.GOOG 6.NVR 7.META 8.V 9.SCHW 10.PGR
2020-12-31	53	$1.3B	20	1BRK-B 2KMX 3AME Top holdings2020-12-31 1.BRK-B 2.KMX 3.AME 4.V 5.GOOG 6.PGR 7.HEI-A 8.META 9.NVR 10.KEYS
2020-09-30	54	$1.1B	11	1BRK-B 2KMX 3AME Top holdings2020-09-30 1.BRK-B 2.KMX 3.AME 4.V 5.PGR 6.NVR 7.META 8.GOOG 9.HEI-A 10.MKL
2020-06-30	49	$1.0B	27	1BRK-B 2KMX 3AME Top holdings2020-06-30 1.BRK-B 2.KMX 3.AME 4.V 5.GOOG 6.PGR 7.META 8.NVR 9.HEI-A 10.MKL
2020-03-31	41	$785.2M	43	1BRK-B 2KMX 3AME Top holdings2020-03-31 1.BRK-B 2.KMX 3.AME 4.V 5.PGR 6.GOOG 7.MKL 8.NVR 9.KEYS 10.HEI-A
2019-12-31	39	$1.1B	13	1BRK-B 2KMX 3AME Top holdings2019-12-31 1.BRK-B 2.KMX 3.AME 4.V 5.NVR 6.GOOG 7.JPM 8.SCHW 9.HEI-A 10.MKL
2019-09-30	39	$1.0B	10	1BRK-B 2KMX 3AME Top holdings2019-09-30 1.BRK-B 2.KMX 3.AME 4.NVR 5.V 6.HEI-A 7.MKL 8.GOOG 9.JPM 10.SCHW
2019-06-30	39	$990.0M	17	1BRK-B 2KMX 3AME Top holdings2019-06-30 1.BRK-B 2.KMX 3.AME 4.V 5.HEI-A 6.NVR 7.MKL 8.GOOG 9.JPM 10.SCHW
2019-03-31	39	$871.7M	20	1BRK-B 2KMX 3AME Top holdings2019-03-31 1.BRK-B 2.KMX 3.AME 4.V 5.GOOG 6.HEI-A 7.NVR 8.MKL 9.JPM 10.SCHW
2018-12-31	35	$758.7M	27	1BRK-B 2KMX 3AME Top holdings2018-12-31 1.BRK-B 2.KMX 3.AME 4.V 5.MKL 6.GOOG 7.NVR 8.JPM 9.HEI-A 10.SCHW
2018-09-30	36	$883.1M	24	1BRK-B 2KMX 3AME Top holdings2018-09-30 1.BRK-B 2.KMX 3.AME 4.063904 5.V 6.UNP 7.MKL 8.GOOG 9.DIS 10.HEI-A
2018-06-30	36	$768.9M	18	1BRK-B 2KMX3063904 Top holdings2018-06-30 1.BRK-B 2.KMX 3.063904 4.AME 5.V 6.UNP 7.MKL 8.GOOG 9.DIS 10.HEI-A
2018-03-31	35	$746.9M	6	1BRK-B 2KMX3063904 Top holdings2018-03-31 1.BRK-B 2.KMX 3.063904 4.AME 5.V 6.MKL 7.UNP 8.LKQ 9.GOOG 10.DIS
2017-12-31	35	$728.9M	15	1BRK-B 2KMX3063904 Top holdings2017-12-31 1.BRK-B 2.KMX 3.063904 4.AME 5.V 6.LKQ 7.UNP 8.MKL 9.GOOG 10.DIS
2017-09-30	31	$684.4M	11	1BRK-B 2KMX3063904 Top holdings2017-09-30 1.BRK-B 2.KMX 3.063904 4.AME 5.LKQ 6.V 7.DIS 8.MKL 9.UNP 10.WFC
2017-06-30	27	$618.6M	11	1BRK-B 2KMX3063904 Top holdings2017-06-30 1.BRK-B 2.KMX 3.063904 4.AME 5.DIS 6.LKQ 7.V 8.MKL 9.WFC 10.UNP
2017-03-31	26	$602.1M	13	1BRK-B20639043KMX Top holdings2017-03-31 1.BRK-B 2.063904 3.KMX 4.DIS 5.AME 6.LKQ 7.V 8.MKL 9.WFC 10.MTB
2016-12-31	26	$591.2M	75	1BRK-B20639043KMX Top holdings2016-12-31 1.BRK-B 2.063904 3.KMX 4.DIS 5.LKQ 6.AME 7.MTB 8.WFC 9.UNP 10.MKL
2016-09-30	26	$537.5M	13	1BRK-B 2LKQ 3KMX Top holdings2016-09-30 1.BRK-B 2.LKQ 3.KMX 4.639041 5.DIS 6.AME 7.V 8.MKL 9.UNP 10.WFC
2016-06-30	25	$515.2M	7	1BRK-B26390413KMX Top holdings2016-06-30 1.BRK-B 2.639041 3.KMX 4.LKQ 5.DIS 6.AME 7.MKL 8.WFC 9.V 10.MTB
2016-03-31	24	$508.5M	22	1BRK-B26390413KMX Top holdings2016-03-31 1.BRK-B 2.639041 3.KMX 4.LKQ 5.AME 6.DIS 7.WFC 8.V 9.MKL 10.ORLY
2015-12-31	25	$502.4M	13	1BRK-B26390413DIS Top holdings2015-12-31 1.BRK-B 2.639041 3.DIS 4.KMX 5.LKQ 6.WFC 7.V 8.MKL 9.MTB 10.ORLY
2015-09-30	26	$497.2M	15	1BRK-B26390413KMX Top holdings2015-09-30 1.BRK-B 2.639041 3.KMX 4.DIS 5.LKQ 6.WFC 7.VALE 8.MTB 9.UNP 10.V
2015-06-30	26	$500.3M	55	1BRK-B26390413DIS Top holdings2015-06-30 1.BRK-B 2.639041 3.DIS 4.WFC 5.KMX 6.LKQ 7.VALE 8.MTB 9.V 10.MKL
2015-03-31	24	$456.7M	0	1BRK-B 2KMX 3DIS Top holdings2015-03-31 1.BRK-B 2.KMX 3.DIS 4.WFC 5.063904 6.VALE 7.LKQ 8.MTB 9.V 10.MKL

Holding changes this quarter

Giverny Capital Inc.'s most significant position changes for 2026-03-31: New buy: Automatic Data Processing (ADP); New buy: Sunbelt Rentals Holdings INC (SUNB); New buy: Aaon INC (AAON); Sold out: Capital One Financial CORP (COF); New buy: Invesco S&p 500 Equal Weight (RSP).

Position changes disclosed by Giverny Capital Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	FIVE	Five Below	+1.2%	-3.22%	Trim
2	KEYS	Keysight Technologies In	+1.1%	-3.25%	Trim
3	BFAM	Bright Horizons Family Solut	+0.8%	+80.97%	Add
4	ADI	Analog Devices INC	+0.4%	-3.22%	Trim
5	LFUS	Littelfuse INC	+0.3%	-1.06%	Trim
6	OZK	Bank Ozk	+0.1%	-2.61%	Trim
7	ANET	Arista Networks INC	+0.1%	+1.00%	Add
8	TWFG	Twfg INC	+0.1%	+66.54%	Add
9	FERG	Ferguson Enterprises INC	0%	+0.97%	Add
10	SCHW	Schwab (charles) CORP	0%	-3.12%	Trim
11	BRK-A	Berkshire Hathaway Inc-cl A	0%	—	Unchanged
12	ODFL	Old Dominion Freight Line	0%	-4.74%	Trim
13	GLD	Spdr Gold Shares	0%	—	Unchanged
14	RMD	Resmed INC	—	-2.29%	Trim
15	JPM	Jpmorgan Chase & Co	—	+0.89%	Add
16	NVO	Novo-nordisk A/s-spons Adr	—	—	Unchanged
17	ITB	Ishares U.s. Home Constructi	—	-7.21%	Trim
18	BIRK	Birkenstock Holding plc	—	—	Unchanged
19	AAPL	Apple INC	0%	-8.95%	Trim
20	CPRT	Copart INC	0%	—	Unchanged
21	BLDR	Builders Firstsource INC	0%	+2.03%	Add
22	MA	Mastercard INC - A	0%	-2.41%	Trim
23	FND	Floor & Decor Holdings Inc-a	-0.1%	-1.72%	Trim
24	KNSL	Kinsale Capital Group INC	-0.1%	+2.18%	Add
25	TSM	Taiwan Semiconductor-sp Adr	-0.1%	-49.44%	Trim
26	GOOGL	Alphabet Inc-cl A	-0.1%	-3.58%	Trim
27	NVR	Nvr INC	-0.1%	-3.30%	Trim
28	MKL	Markel Group INC	-0.1%	-2.35%	Trim
29	GOOG	Alphabet Inc-cl C	-0.2%	-2.91%	Trim
30	DIS	Walt Disney Co/the	-0.2%	-1.45%	Trim
31	LULU	Lululemon Athletica INC	-0.2%	-1.13%	Trim
32	PGR	Progressive CORP	-0.3%	-1.58%	Trim
33	BRO	Brown & Brown INC	-0.3%	-2.23%	Trim
34	V	Visa Inc-class A Shares	-0.4%	-2.70%	Trim
35	MEDP	Medpace Holdings INC	-0.4%	-2.75%	Trim
36	META	Meta Platforms Inc-class A	-0.5%	-1.80%	Trim
37	IBP	Installed Building Products	-0.6%	-22.26%	Trim
38	BKNG	Booking Holdings INC	-0.6%	-1.53%	Trim
39	HEI-A	Heico Corp-class A	-0.6%	-2.13%	Trim
40	BRK-B	Berkshire Hathaway Inc-cl B	-1.8%	-25.17%	Trim
41	AME	Ametek INC	-1.9%	-37.51%	Trim
42	ADP	Automatic Data Processing	—	NEW	New buy
43	SUNB	Sunbelt Rentals Holdings INC	—	NEW	New buy
44	AAON	Aaon INC	—	NEW	New buy
45	COF	Capital One Financial CORP	—	EXIT	Sold out
46	RSP	Invesco S&p 500 Equal Weight	—	NEW	New buy
47	QQQM	Invesco Nasdaq 100 ETF	—	NEW	New buy
48	DFH	Dream Finders Homes INC - A	—	EXIT	Sold out
49	ISRG	Intuitive Surgical INC	—	EXIT	Sold out
50	COST	Costco Wholesale CORP	—	EXIT	Sold out

FAQ

What is Giverny Capital Inc. and what type of investor is it?

Giverny Capital Inc. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $2.7B, spread across 51 disclosed positions.

What are Giverny Capital Inc.'s largest equity positions?

Based on the latest 13F filing, Giverny Capital Inc.'s top holdings by market value are: 1. Berkshire Hathaway Inc-cl B (BRK-B) — $181.4M (6.6%) 2. Alphabet Inc-cl C (GOOG) — $178.1M (6.5%) 3. Meta Platforms Inc-class A (META) — $176.1M (6.5%) 4. Heico Corp-class A (HEI-A) — $155.9M (5.7%) 5. Schwab (charles) CORP (SCHW) — $144.4M (5.3%)

What changes did Giverny Capital Inc. make in its most recent portfolio filing?

In the latest reported quarter, Giverny Capital Inc. made 45 notable position adjustments: 5 new positions were initiated, 7 existing holdings were added to, 29 positions were partially reduced, and 4 were completely exited. The largest of these moves: New buy: Automatic Data Processing (ADP); New buy: Sunbelt Rentals Holdings INC (SUNB); New buy: Aaon INC (AAON); Sold out: Capital One Financial CORP (COF); New buy: Invesco S&p 500 Equal Weight (RSP)

What sectors does Giverny Capital Inc. focus on?

Giverny Capital Inc. is concentrated in the following sectors based on its current disclosed equity portfolio: • Financials: 33.1% • Consumer Discretionary: 20.5% • Communication Services: 19.9% • Information Technology: 12.4% • Industrials: 7.2% • Health Care: 6.9%

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Total reported value

$116.1M

116 stks

2026-03-31

Concentration7.2

Portfolio Stability25.8

Sector conviction49.2

3 of the top 5 holdings overlap, including Berkshire Hathaway Inc-cl B

View detail

Parthenon LLC

CIK 0001088859

Total reported value

$874.7M

127 stks

2026-03-31

Concentration13.6

Portfolio Stability15.2

Sector conviction51.8

3 of the top 5 holdings overlap, including Berkshire Hathaway Inc-cl B

View detail

Giverny Capital Inc. — Inside Their 13F Portfolio

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$2.7B

Reporting period: 2026-03-31 · Number of holdings: 51

Giverny Capital Inc. disclosed 51 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.7B and a quarterly turnover rate of 23.3%.

Browse other institutions with $1B to $10B AUM Browse other institutions starting with "G"

Personality snowflake

Concentration: 16.45
Portfolio Stability: 23.27
Momentum/Contrarian: 96.31
Sector conviction: 64.95
Diversification: 100
Sizing Uniformity: 89.42

Recent moves

Trim AME
-37.5%　-$69.9M
Trim BRK-B
-25.2%　-$72.9M
Add FIVE
-3.2%　$20.9M
Add KEYS
-3.3%　$23.4M
Add BFAM
+81.0%　$19.4M
Trim HEI-A
-2.1%　-$34.6M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	6.64%	-1.84%	-25.17%
2	GOOG	Alphabet Inc-cl C	Stock-Comm Services	6.52%	-0.17%	-2.91%
3	META	Meta Platforms Inc-class A	Stock-Comm Services	6.45%	-0.45%	-1.80%
4	HEI-A	Heico Corp-class A	Stock-Other	5.71%	-0.64%	-2.13%
5	SCHW	Schwab (charles) CORP	Stock-Financials	5.29%	+0.01%	-3.12%
6	FIVE	Five Below	Stock-Consumer Disc	5.16%	+1.15%	-3.22%
7	AME	Ametek INC	Stock-Industrials	4.80%	-1.91%	-37.51%
8	MEDP	Medpace Holdings INC	Stock-Healthcare	4.50%	-0.43%	-2.75%
9	V	Visa Inc-class A Shares	Stock-Financials	4.39%	-0.38%	-2.70%
10	IBP	Installed Building Products	Stock-Consumer Disc	3.92%	-0.57%	-22.26%
11	PGR	Progressive CORP	Stock-Financials	3.83%	-0.25%	-1.58%
12	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	3.67%	-0.10%	-3.58%
13	KEYS	Keysight Technologies In	Stock-Tech	3.34%	+1.08%	-3.25%
14	NVR	Nvr INC	Stock-Consumer Disc	3.29%	-0.14%	-3.30%
15	BKNG	Booking Holdings INC	Stock-Consumer Disc	3.26%	-0.57%	-1.53%
16	ADP	Automatic Data Processing	Stock-Tech	3.12%	+3.12%	NEW
17	MKL	Markel Group INC	Stock-Financials	3.01%	-0.14%	-2.35%
18	KNSL	Kinsale Capital Group INC	Stock-Financials	2.74%	-0.06%	+2.18%
19	BFAM	Bright Horizons Family Solut	Stock-Consumer Disc	2.23%	+0.84%	+80.97%
20	OZK	Bank Ozk	Stock-Financials	2.07%	+0.13%	-2.61%
21	ADI	Analog Devices INC	Stock-Tech	1.99%	+0.39%	-3.22%
22	ANET	Arista Networks INC	Stock-Tech	1.90%	+0.07%	+1.00%
23	DIS	Walt Disney Co/the	Stock-Comm Services	1.89%	-0.18%	-1.45%
24	RMD	Resmed INC	Stock-Healthcare	1.89%	—	-2.29%
25	BRO	Brown & Brown INC	Stock-Financials	1.80%	-0.25%	-2.23%
26	LFUS	Littelfuse INC	Stock-Tech	1.00%	+0.31%	-1.06%
27	LULU	Lululemon Athletica INC	Stock-Consumer Disc	0.80%	-0.20%	-1.13%
28	SUNB	Sunbelt Rentals Holdings INC	Stock-Industrials	0.65%	+0.65%	NEW
29	AAON	Aaon INC	Stock-Industrials	0.61%	+0.61%	NEW
30	JPM	Jpmorgan Chase & Co	Stock-Financials	0.56%	—	+0.89%
31	MA	Mastercard INC - A	Stock-Financials	0.51%	-0.04%	-2.41%
32	FND	Floor & Decor Holdings Inc-a	Stock-Consumer Disc	0.43%	-0.05%	-1.72%
33	TWFG	Twfg INC	Stock-Other	0.37%	+0.05%	+66.54%
34	FERG	Ferguson Enterprises INC	Stock-Industrials	0.31%	+0.04%	+0.97%
35	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	0.29%	+0.01%	—
36	BLDR	Builders Firstsource INC	Stock-Industrials	0.28%	-0.03%	+2.03%
37	AAPL	Apple INC	Stock-Tech	0.14%	-0.01%	-8.95%
38	TSM	Taiwan Semiconductor-sp Adr	Stock-Tech	0.10%	-0.06%	-49.44%
39	YUMC	Yum China Holdings INC	Stock-Consumer Disc	0.06%	—	—
40	GLD	Spdr Gold Shares	ETF-Commodities	0.06%	+0.01%	—
41	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.06%	—	—
42	MTB	M & T Bank CORP	Stock-Financials	0.06%	—	-0.07%
43	RSP	Invesco S&p 500 Equal Weight	ETF-Large Cap & Growth	0.04%	+0.04%	NEW
44	QQQM	Invesco Nasdaq 100 ETF	ETF-Tech	0.04%	+0.04%	NEW
45	ITB	Ishares U.s. Home Constructi	ETF-Other	0.04%	—	-7.21%
46	BIRK	Birkenstock Holding plc	Stock-Other	0.04%	—	—
47	ODFL	Old Dominion Freight Line	Stock-Industrials	0.04%	+0.01%	-4.74%
48	CPRT	Copart INC	Stock-Industrials	0.03%	-0.01%	—
49	MSFT	Microsoft CORP	Stock-Tech	0.03%	—	+12.09%
50	SITE	Siteone Landscape Supply INC	Stock-Industrials	0.02%	—	—

1–50 of 51

Portfolio Performance

Performance for Q3 2026

-0.5%

Performance Last 4 Quarters

+8.1%

Based on 78% of reported portfolio value with available pricing

Stdev: +17%
Beta: +1.04
Alpha: -7.4%
Max Drawdown: -13%
Annualized Perf: +10.9%
Batting Avg vs S&P: +44.4%
Sortino: +1.18
Stutzer: +0.2
Treynor: +0.11
Sterling: +0.53
Calmar: +0.83
Information Ratio: -0.65
Tracking Error: +10.3%
Stdev Down: +10%
Winning Months %: +58.3%
Losing Months %: +41.7%
Best 12 Months: +39%
Worst 12 Months: -2.5%
Efficiency Ratio: +0.25
Sharpe: +0.69
Stdev Sectors: +9.1%
Skewness: +0.02
Kurtosis: -0.71
Upside Potential: +3.04

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	51	$2.7B	23	1BRK-B 2GOOG 3META Top holdings2026-03-31 1.BRK-B 2.GOOG 3.META 4.HEI-A 5.SCHW 6.FIVE 7.AME 8.MEDP 9.V 10.IBP
2025-12-31	50	$3.0B	17	1BRK-B 2META 3AME Top holdings2025-12-31 1.BRK-B 2.META 3.AME 4.GOOG 5.HEI-A 6.SCHW 7.MEDP 8.V 9.IBP 10.PGR
2025-09-30	52	$3.0B	35	1BRK-B 2META 3HEI-A Top holdings2025-09-30 1.BRK-B 2.META 3.HEI-A 4.AME 5.GOOG 6.SCHW 7.V 8.MEDP 9.PGR 10.IBP
2025-06-30	55	$2.9B	0	1BRK-B 2META 3HEI-A Top holdings2025-06-30 1.BRK-B 2.META 3.HEI-A 4.AME 5.SCHW 6.V 7.PGR 8.BKNG 9.GOOG 10.FISV
2025-03-31	54	$2.7B	0	1BRK-B 2META 3AME Top holdings2025-03-31 1.BRK-B 2.META 3.AME 4.HEI-A 5.PGR 6.FISV 7.V 8.KMX 9.GOOG 10.NVR
2024-12-31	62	$2.7B	0	1BRK-B 2META 3AME Top holdings2024-12-31 1.BRK-B 2.META 3.AME 4.HEI-A 5.KMX 6.PGR 7.FISV 8.V 9.GOOG 10.NVR
2024-09-30	52	$2.6B	0	1BRK-B 2META 3AME Top holdings2024-09-30 1.BRK-B 2.META 3.AME 4.HEI-A 5.PGR 6.NVR 7.KMX 8.IBP 9.GOOG 10.V
2024-06-30	50	$2.4B	0	1BRK-B 2AME 3META Top holdings2024-06-30 1.BRK-B 2.AME 3.META 4.HEI-A 5.GOOG 6.KMX 7.PGR 8.V 9.NVR 10.IBP
2024-03-31	51	$2.5B	0	1BRK-B 2AME 3META Top holdings2024-03-31 1.BRK-B 2.AME 3.META 4.KMX 5.MKL 6.FIVE 7.IBP 8.HEI-A 9.PGR 10.V
2023-12-31	58	$2.1B	0	1BRK-B 2AME 3FIVE Top holdings2023-12-31 1.BRK-B 2.AME 3.FIVE 4.KMX 5.MKL 6.META 7.HEI-A 8.V 9.GOOG 10.NVR
2023-09-30	59	$1.8B	0	1BRK-B 2AME 3MKL Top holdings2023-09-30 1.BRK-B 2.AME 3.MKL 4.GOOG 5.KMX 6.FIVE 7.HEI-A 8.V 9.META 10.NVR
2023-06-30	59	$1.9B	0	1BRK-B 2AME 3KMX Top holdings2023-06-30 1.BRK-B 2.AME 3.KMX 4.FIVE 5.MKL 6.GOOG 7.HEI-A 8.V 9.META 10.NVR
2023-03-31	60	$1.7B	0	1BRK-B 2FIVE 3AME Top holdings2023-03-31 1.BRK-B 2.FIVE 3.AME 4.MKL 5.KMX 6.GOOG 7.HEI-A 8.V 9.KEYS 10.PGR
2022-12-31	66	$1.6B	0	1BRK-B 2AME 3FIVE Top holdings2022-12-31 1.BRK-B 2.AME 3.FIVE 4.MKL 5.SCHW 6.KMX 7.HEI-A 8.KEYS 9.GOOG 10.V
2022-09-30	63	$1.5B	0	1BRK-B 2AME 3MKL Top holdings2022-09-30 1.BRK-B 2.AME 3.MKL 4.SCHW 5.GOOG 6.FIVE 7.KMX 8.HEI-A 9.KEYS 10.V
2022-06-30	63	$1.5B	0	1BRK-B 2KMX 3MKL Top holdings2022-06-30 1.BRK-B 2.KMX 3.MKL 4.GOOG 5.AME 6.SCHW 7.HEI-A 8.V 9.FIVE 10.PGR
2022-03-31	63	$1.8B	0	1BRK-B 2GOOG 3MKL Top holdings2022-03-31 1.BRK-B 2.GOOG 3.MKL 4.KMX 5.AME 6.SCHW 7.HEI-A 8.PGR 9.FIVE 10.V
2021-12-31	64	$1.9B	0	1BRK-B 2KMX 3AME Top holdings2021-12-31 1.BRK-B 2.KMX 3.AME 4.GOOG 5.SCHW 6.MKL 7.NVR 8.KEYS 9.PGR 10.META
2021-09-30	59	$1.7B	0	1BRK-B 2KMX 3GOOG Top holdings2021-09-30 1.BRK-B 2.KMX 3.GOOG 4.AME 5.MKL 6.META 7.SCHW 8.V 9.NVR 10.PGR
2021-06-30	57	$1.6B	95	1BRK-B 2KMX 3AME Top holdings2021-06-30 1.BRK-B 2.KMX 3.AME 4.GOOG 5.MKL 6.META 7.V 8.SCHW 9.PGR 10.NVR
2021-03-31	53	$1.5B	15	1BRK-B 2KMX 3AME Top holdings2021-03-31 1.BRK-B 2.KMX 3.AME 4.MKL 5.GOOG 6.NVR 7.META 8.V 9.SCHW 10.PGR
2020-12-31	53	$1.3B	20	1BRK-B 2KMX 3AME Top holdings2020-12-31 1.BRK-B 2.KMX 3.AME 4.V 5.GOOG 6.PGR 7.HEI-A 8.META 9.NVR 10.KEYS
2020-09-30	54	$1.1B	11	1BRK-B 2KMX 3AME Top holdings2020-09-30 1.BRK-B 2.KMX 3.AME 4.V 5.PGR 6.NVR 7.META 8.GOOG 9.HEI-A 10.MKL
2020-06-30	49	$1.0B	27	1BRK-B 2KMX 3AME Top holdings2020-06-30 1.BRK-B 2.KMX 3.AME 4.V 5.GOOG 6.PGR 7.META 8.NVR 9.HEI-A 10.MKL
2020-03-31	41	$785.2M	43	1BRK-B 2KMX 3AME Top holdings2020-03-31 1.BRK-B 2.KMX 3.AME 4.V 5.PGR 6.GOOG 7.MKL 8.NVR 9.KEYS 10.HEI-A
2019-12-31	39	$1.1B	13	1BRK-B 2KMX 3AME Top holdings2019-12-31 1.BRK-B 2.KMX 3.AME 4.V 5.NVR 6.GOOG 7.JPM 8.SCHW 9.HEI-A 10.MKL
2019-09-30	39	$1.0B	10	1BRK-B 2KMX 3AME Top holdings2019-09-30 1.BRK-B 2.KMX 3.AME 4.NVR 5.V 6.HEI-A 7.MKL 8.GOOG 9.JPM 10.SCHW
2019-06-30	39	$990.0M	17	1BRK-B 2KMX 3AME Top holdings2019-06-30 1.BRK-B 2.KMX 3.AME 4.V 5.HEI-A 6.NVR 7.MKL 8.GOOG 9.JPM 10.SCHW
2019-03-31	39	$871.7M	20	1BRK-B 2KMX 3AME Top holdings2019-03-31 1.BRK-B 2.KMX 3.AME 4.V 5.GOOG 6.HEI-A 7.NVR 8.MKL 9.JPM 10.SCHW
2018-12-31	35	$758.7M	27	1BRK-B 2KMX 3AME Top holdings2018-12-31 1.BRK-B 2.KMX 3.AME 4.V 5.MKL 6.GOOG 7.NVR 8.JPM 9.HEI-A 10.SCHW
2018-09-30	36	$883.1M	24	1BRK-B 2KMX 3AME Top holdings2018-09-30 1.BRK-B 2.KMX 3.AME 4.063904 5.V 6.UNP 7.MKL 8.GOOG 9.DIS 10.HEI-A
2018-06-30	36	$768.9M	18	1BRK-B 2KMX3063904 Top holdings2018-06-30 1.BRK-B 2.KMX 3.063904 4.AME 5.V 6.UNP 7.MKL 8.GOOG 9.DIS 10.HEI-A
2018-03-31	35	$746.9M	6	1BRK-B 2KMX3063904 Top holdings2018-03-31 1.BRK-B 2.KMX 3.063904 4.AME 5.V 6.MKL 7.UNP 8.LKQ 9.GOOG 10.DIS
2017-12-31	35	$728.9M	15	1BRK-B 2KMX3063904 Top holdings2017-12-31 1.BRK-B 2.KMX 3.063904 4.AME 5.V 6.LKQ 7.UNP 8.MKL 9.GOOG 10.DIS
2017-09-30	31	$684.4M	11	1BRK-B 2KMX3063904 Top holdings2017-09-30 1.BRK-B 2.KMX 3.063904 4.AME 5.LKQ 6.V 7.DIS 8.MKL 9.UNP 10.WFC
2017-06-30	27	$618.6M	11	1BRK-B 2KMX3063904 Top holdings2017-06-30 1.BRK-B 2.KMX 3.063904 4.AME 5.DIS 6.LKQ 7.V 8.MKL 9.WFC 10.UNP
2017-03-31	26	$602.1M	13	1BRK-B20639043KMX Top holdings2017-03-31 1.BRK-B 2.063904 3.KMX 4.DIS 5.AME 6.LKQ 7.V 8.MKL 9.WFC 10.MTB
2016-12-31	26	$591.2M	75	1BRK-B20639043KMX Top holdings2016-12-31 1.BRK-B 2.063904 3.KMX 4.DIS 5.LKQ 6.AME 7.MTB 8.WFC 9.UNP 10.MKL
2016-09-30	26	$537.5M	13	1BRK-B 2LKQ 3KMX Top holdings2016-09-30 1.BRK-B 2.LKQ 3.KMX 4.639041 5.DIS 6.AME 7.V 8.MKL 9.UNP 10.WFC
2016-06-30	25	$515.2M	7	1BRK-B26390413KMX Top holdings2016-06-30 1.BRK-B 2.639041 3.KMX 4.LKQ 5.DIS 6.AME 7.MKL 8.WFC 9.V 10.MTB
2016-03-31	24	$508.5M	22	1BRK-B26390413KMX Top holdings2016-03-31 1.BRK-B 2.639041 3.KMX 4.LKQ 5.AME 6.DIS 7.WFC 8.V 9.MKL 10.ORLY
2015-12-31	25	$502.4M	13	1BRK-B26390413DIS Top holdings2015-12-31 1.BRK-B 2.639041 3.DIS 4.KMX 5.LKQ 6.WFC 7.V 8.MKL 9.MTB 10.ORLY
2015-09-30	26	$497.2M	15	1BRK-B26390413KMX Top holdings2015-09-30 1.BRK-B 2.639041 3.KMX 4.DIS 5.LKQ 6.WFC 7.VALE 8.MTB 9.UNP 10.V
2015-06-30	26	$500.3M	55	1BRK-B26390413DIS Top holdings2015-06-30 1.BRK-B 2.639041 3.DIS 4.WFC 5.KMX 6.LKQ 7.VALE 8.MTB 9.V 10.MKL
2015-03-31	24	$456.7M	0	1BRK-B 2KMX 3DIS Top holdings2015-03-31 1.BRK-B 2.KMX 3.DIS 4.WFC 5.063904 6.VALE 7.LKQ 8.MTB 9.V 10.MKL

Holding changes this quarter

Position changes disclosed by Giverny Capital Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	FIVE	Five Below	+1.2%	-3.22%	Trim
2	KEYS	Keysight Technologies In	+1.1%	-3.25%	Trim
3	BFAM	Bright Horizons Family Solut	+0.8%	+80.97%	Add
4	ADI	Analog Devices INC	+0.4%	-3.22%	Trim
5	LFUS	Littelfuse INC	+0.3%	-1.06%	Trim
6	OZK	Bank Ozk	+0.1%	-2.61%	Trim
7	ANET	Arista Networks INC	+0.1%	+1.00%	Add
8	TWFG	Twfg INC	+0.1%	+66.54%	Add
9	FERG	Ferguson Enterprises INC	0%	+0.97%	Add
10	SCHW	Schwab (charles) CORP	0%	-3.12%	Trim
11	BRK-A	Berkshire Hathaway Inc-cl A	0%	—	Unchanged
12	ODFL	Old Dominion Freight Line	0%	-4.74%	Trim
13	GLD	Spdr Gold Shares	0%	—	Unchanged
14	RMD	Resmed INC	—	-2.29%	Trim
15	JPM	Jpmorgan Chase & Co	—	+0.89%	Add
16	NVO	Novo-nordisk A/s-spons Adr	—	—	Unchanged
17	ITB	Ishares U.s. Home Constructi	—	-7.21%	Trim
18	BIRK	Birkenstock Holding plc	—	—	Unchanged
19	AAPL	Apple INC	0%	-8.95%	Trim
20	CPRT	Copart INC	0%	—	Unchanged
21	BLDR	Builders Firstsource INC	0%	+2.03%	Add
22	MA	Mastercard INC - A	0%	-2.41%	Trim
23	FND	Floor & Decor Holdings Inc-a	-0.1%	-1.72%	Trim
24	KNSL	Kinsale Capital Group INC	-0.1%	+2.18%	Add
25	TSM	Taiwan Semiconductor-sp Adr	-0.1%	-49.44%	Trim
26	GOOGL	Alphabet Inc-cl A	-0.1%	-3.58%	Trim
27	NVR	Nvr INC	-0.1%	-3.30%	Trim
28	MKL	Markel Group INC	-0.1%	-2.35%	Trim
29	GOOG	Alphabet Inc-cl C	-0.2%	-2.91%	Trim
30	DIS	Walt Disney Co/the	-0.2%	-1.45%	Trim
31	LULU	Lululemon Athletica INC	-0.2%	-1.13%	Trim
32	PGR	Progressive CORP	-0.3%	-1.58%	Trim
33	BRO	Brown & Brown INC	-0.3%	-2.23%	Trim
34	V	Visa Inc-class A Shares	-0.4%	-2.70%	Trim
35	MEDP	Medpace Holdings INC	-0.4%	-2.75%	Trim
36	META	Meta Platforms Inc-class A	-0.5%	-1.80%	Trim
37	IBP	Installed Building Products	-0.6%	-22.26%	Trim
38	BKNG	Booking Holdings INC	-0.6%	-1.53%	Trim
39	HEI-A	Heico Corp-class A	-0.6%	-2.13%	Trim
40	BRK-B	Berkshire Hathaway Inc-cl B	-1.8%	-25.17%	Trim
41	AME	Ametek INC	-1.9%	-37.51%	Trim
42	ADP	Automatic Data Processing	—	NEW	New buy
43	SUNB	Sunbelt Rentals Holdings INC	—	NEW	New buy
44	AAON	Aaon INC	—	NEW	New buy
45	COF	Capital One Financial CORP	—	EXIT	Sold out
46	RSP	Invesco S&p 500 Equal Weight	—	NEW	New buy
47	QQQM	Invesco Nasdaq 100 ETF	—	NEW	New buy
48	DFH	Dream Finders Homes INC - A	—	EXIT	Sold out
49	ISRG	Intuitive Surgical INC	—	EXIT	Sold out
50	COST	Costco Wholesale CORP	—	EXIT	Sold out