PYA Waltman Capital, LLC Holdings Report (13F Filings)

CIK: 0001800135

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$360.7M

Reporting period: 2026-03-31 · Number of holdings: 67

PYA Waltman Capital, LLC disclosed 67 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $360.7M and a quarterly turnover rate of 21.7%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "P"

Personality snowflake

Concentration: 19.09
Portfolio Stability: 21.69
Momentum/Contrarian: 100
Sector conviction: 48.47
Diversification: 100
Sizing Uniformity: 85.06

PYA Waltman Capital, LLC's disclosed holdings carry a Herfindahl concentration index of 0.048 — mathematically equivalent to about 21 equally-sized positions, well below its 67 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 1.49), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Trim TCAF
-24.0%　-$12.2M
Trim CEF
-46.8%　-$7.3M
Add POST
+20.8%　$5.6M
Add AMZN
+40.9%　$4.4M
Add ROP
+104.5%　$4.4M
Add PEP
+125.0%　$2.8M

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	10.57%	+0.25%	+4.14%
2	POST	Post Holdings INC	Stock-Consumer Staples	9.02%	+1.77%	+20.80%
3	TCAF	T Rowe Prc Cap Appreciation	ETF-Other	8.22%	-3.03%	-24.01%
4	MKL	Markel Group INC	Stock-Financials	6.05%	-0.39%	+2.19%
5	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	5.95%	-0.36%	-0.53%
6	AMZN	Amazon.com INC	Stock-Consumer Disc	5.73%	+1.36%	+40.88%
7	TDG	Transdigm Group INC	Stock-Industrials	4.23%	-0.14%	+7.54%
8	DHR	Danaher CORP	Stock-Healthcare	4.05%	+0.08%	+19.30%
9	HEI-A	Heico Corp-class A	Stock-Other	3.65%	-0.49%	+2.17%
10	SPGI	S&p Global INC	Stock-Financials	3.53%	-0.15%	+14.46%
11	ROP	Roper Technologies INC	Stock-Tech	3.17%	+1.28%	+104.53%
12	JNJ	Johnson & Johnson	Stock-Healthcare	2.81%	+0.49%	-0.85%
13	CEF	Sprott Physical Gold And Sil	Stock-Other	2.53%	-1.89%	-46.77%
14	VGIT	Vanguard Intermediate-term T	ETF-Other	1.75%	+0.74%	+67.82%
15	AMGN	Amgen INC	Stock-Healthcare	1.34%	+0.13%	+0.23%
16	PEP	Pepsico INC	Stock-Consumer Staples	1.33%	+0.80%	+125.05%
17	ABBV	Abbvie INC	Stock-Healthcare	1.28%	—	+2.90%
18	TXN	Texas Instruments INC	Stock-Tech	1.26%	+0.19%	+1.62%
19	PG	Procter & Gamble Co/the	Stock-Consumer Staples	1.22%	+0.69%	+123.18%
20	UPS	United Parcel Service-cl B	Stock-Industrials	1.21%	+0.10%	+6.45%
21	FBTC	Fidelity Wise Origin Bitcoin	ETF-Crypto	1.07%	-0.14%	+10.25%
22	HD	Home Depot INC	Stock-Consumer Disc	1.05%	+0.27%	+36.31%
23	CVX	Chevron CORP	Stock-Energy	1.01%	+0.64%	+95.43%
24	BLD	Topbuild CORP	Stock-Industrials	1.01%	-0.10%	+4.25%
25	AVGO	Broadcom INC	Stock-Tech	0.99%	-0.51%	-28.14%
26	MTN	Vail Resorts INC	Stock-Consumer Disc	0.96%	-0.18%	-15.77%
27	NVR	Nvr INC	Stock-Consumer Disc	0.96%	-0.08%	-1.13%
28	ETSY	Etsy INC	Stock-Consumer Disc	0.91%	+0.55%	+169.71%
29	LMT	Lockheed Martin CORP	Stock-Industrials	0.89%	+0.40%	+40.35%
30	GD	General Dynamics CORP	Stock-Industrials	0.88%	—	-0.88%
31	ALL	Allstate CORP	Stock-Financials	0.82%	-0.11%	-14.40%
32	JPM	Jpmorgan Chase & Co	Stock-Financials	0.77%	-0.33%	-25.67%
33	AAPL	Apple INC	Stock-Tech	0.70%	—	+4.42%
34	VGSH	Vanguard Short-term Treasury	ETF-Gov Bonds	0.65%	—	-2.94%
35	AMT	American Tower CORP	Stock-Real Estate	0.55%	+0.33%	+143.97%
36	TRV	Travelers Cos Inc/the	Stock-Financials	0.50%	—	-2.45%
37	TROW	T Rowe Price Group INC	Stock-Financials	0.48%	-0.09%	-7.98%
38	GBTC	Grayscale Bitcoin Trust ETF	ETF-Crypto	0.47%	-0.14%	-3.42%
39	FETH	Fidelity Ethereum Fund	ETF-Other	0.46%	-0.07%	+20.35%
40	VZ	Verizon Communications INC	Stock-Comm Services	0.46%	+0.14%	+12.41%
41	CSCO	Cisco Systems INC	Stock-Tech	0.44%	—	-0.46%
42	NEE	Nextera Energy INC	Stock-Utilities	0.42%	+0.07%	+0.62%
43	MCD	Mcdonald's CORP	Stock-Consumer Disc	0.39%	—	-2.76%
44	MSFT	Microsoft CORP	Stock-Tech	0.38%	-0.16%	-11.54%
45	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	0.34%	—	+8.36%
46	GLD	Spdr Gold Shares	ETF-Commodities	0.32%	-0.06%	-25.21%
47	SBUX	Starbucks CORP	Stock-Consumer Disc	0.31%	—	+1.10%
48	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	0.30%	—	—
49	APD	Air Products & Chemicals INC	Stock-Materials	0.26%	+0.07%	+12.14%
50	XOM	Exxon Mobil CORP	Stock-Energy	0.24%	+0.08%	-0.59%

1–50 of 67

Portfolio Performance

Performance for Q3 2026

+0.2%

Performance Last 4 Quarters

+7.8%

Based on 77% of reported portfolio value with available pricing

Stdev: +10.4%
Beta: +0.69
Alpha: +0.8%
Max Drawdown: -8%
Annualized Perf: +13.9%
Batting Avg vs S&P: +38.9%
Sortino: +2.54
Stutzer: +0.38
Treynor: +0.2
Sterling: +0.88
Calmar: +1.73
Information Ratio: -0.74
Tracking Error: +6.6%
Stdev Down: +5.4%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +29.7%
Worst 12 Months: +7.5%
Efficiency Ratio: +0.52
Sharpe: +1.31
Stdev Sectors: +8%
Skewness: -0.03
Kurtosis: +0.61
Upside Potential: +4.13

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	67	$360.7M	22	1BRK-B 2POST 3TCAF Top holdings2026-03-31 1.BRK-B 2.POST 3.TCAF 4.MKL 5.GOOGL 6.AMZN 7.TDG 8.DHR 9.HEI-A 10.SPGI
2025-12-31	75	$372.2M	17	1TCAF 2BRK-B 3POST Top holdings2025-12-31 1.TCAF 2.BRK-B 3.POST 4.MKL 5.GOOGL 6.CEF 7.TDG 8.AMZN 9.HEI-A 10.DHR
2025-09-30	80	$373.2M	29	1BRK-B 2POST 3TCAF Top holdings2025-09-30 1.BRK-B 2.POST 3.TCAF 4.MKL 5.GOOGL 6.CEF 7.TDG 8.HEI-A 9.AMZN 10.ROP
2025-06-30	76	$347.4M	0	1BRK-B 2TCAF 3MKL Top holdings2025-06-30 1.BRK-B 2.TCAF 3.MKL 4.POST 5.TDG 6.ROST 7.HEI-A 8.CEF 9.AMZN 10.GOOGL
2025-03-31	75	$318.1M	100	1BRK-B 2TCAF 3POST Top holdings2025-03-31 1.BRK-B 2.TCAF 3.POST 4.MKL 5.ROST 6.TDG 7.CEF 8.HEI-A 9.AMZN 10.SPGI
2024-12-31	78	$310.4M	0	1BRK-B 2TCAF 3ROST Top holdings2024-12-31 1.BRK-B 2.TCAF 3.ROST 4.MKL 5.POST 6.TDG 7.AMZN 8.GOOGL 9.CEF 10.HEI-A
2024-09-30	73	$306.0M	0	1BRK-B 2ROST 3TCAF Top holdings2024-09-30 1.BRK-B 2.ROST 3.TCAF 4.POST 5.MKL 6.TDG 7.HEI-A 8.CEF 9.SPGI 10.AMZN
2024-06-30	66	$272.3M	0	1BRK-B 2ROST 3TCAF Top holdings2024-06-30 1.BRK-B 2.ROST 3.TCAF 4.MKL 5.POST 6.TDG 7.CEF 8.GOOGL 9.HEI-A 10.AMZN
2024-03-31	66	$269.6M	0	1BRK-B 2ROST 3TDG Top holdings2024-03-31 1.BRK-B 2.ROST 3.TDG 4.TCAF 5.MKL 6.POST 7.CEF 8.GOOGL 9.AMZN 10.HEI-A
2023-12-31	66	$240.2M	0	1BRK-B 2ROST 3TDG Top holdings2023-12-31 1.BRK-B 2.ROST 3.TDG 4.MKL 5.TCAF 6.POST 7.CEF 8.SPGI 9.GOOGL 10.HEI-A
2023-09-30	62	$236.1M	0	1BRK-B 2MKL 3ROST Top holdings2023-09-30 1.BRK-B 2.MKL 3.ROST 4.VGSH 5.TDG 6.TCAF 7.POST 8.CEF 9.GOOGL 10.SPGI
2023-06-30	61	$232.1M	0	1BRK-B 2MKL 3ROST Top holdings2023-06-30 1.BRK-B 2.MKL 3.ROST 4.VGSH 5.TDG 6.POST 7.CEF 8.GOOGL 9.SPGI 10.HEI-A
2023-03-31	60	$201.4M	0	1BRK-B 2VGSH 3ROST Top holdings2023-03-31 1.BRK-B 2.VGSH 3.ROST 4.MKL 5.TDG 6.CEF 7.POST 8.SPGI 9.HEI-A 10.GOOGL
2022-12-31	60	$190.5M	0	1BRK-B 2ROST 3MKL Top holdings2022-12-31 1.BRK-B 2.ROST 3.MKL 4.VGSH 5.TDG 6.POST 7.CEF 8.SPGI 9.HEI-A 10.LBRDK
2022-09-30	208	$170.3M	0	1BRK-B 2ROST 3MKL Top holdings2022-09-30 1.BRK-B 2.ROST 3.MKL 4.POST 5.CEF 6.TDG 7.VGSH 8.SPGI 9.HEI-A 10.LBRDK
2022-06-30	219	$179.3M	0	1BRK-B 2POST 3MKL Top holdings2022-06-30 1.BRK-B 2.POST 3.MKL 4.LBRDK 5.CEF 6.ROST 7.TDG 8.SPGI 9.BXMT 10.HEI-A
2022-03-31	209	$203.0M	0	1BRK-B 2MKL 3LBRDK Top holdings2022-03-31 1.BRK-B 2.MKL 3.LBRDK 4.POST 5.CEF 6.TDG 7.ROST 8.SPGI 9.BXMT 10.HEI-A
2021-12-31	205	$193.9M	0	1BRK-B 2POST 3LBRDK Top holdings2021-12-31 1.BRK-B 2.POST 3.LBRDK 4.MKL 5.CEF 6.TDG 7.ROST 8.HEI-A 9.BXMT 10.QVCAUSD
2021-09-30	38	$184.4M	0	1BRK-B 2POST 3LBRDK Top holdings2021-09-30 1.BRK-B 2.POST 3.LBRDK 4.MKL 5.CEF 6.TDG 7.QVCAUSD 8.ROST 9.HEI-A 10.BXMT
2021-06-30	38	$192.0M	100	1BRK-B 2LBRDK 3POST Top holdings2021-06-30 1.BRK-B 2.LBRDK 3.POST 4.CEF 5.MKL 6.TDG 7.QVCAUSD 8.CHTR 9.ROST 10.HEI-A
2021-03-31	47	$176.2M	11	1BRK-B 2POST 3LBRDK Top holdings2021-03-31 1.BRK-B 2.POST 3.LBRDK 4.MKL 5.CEF 6.CHTR 7.TDG 8.ROST 9.QVCAUSD 10.HEI-A
2020-12-31	52	$167.8M	34	1BRK-B 2POST 3LBRDK Top holdings2020-12-31 1.BRK-B 2.POST 3.LBRDK 4.CEF 5.CHTR 6.TDG 7.MKL 8.QVCAUSD 9.ROST 10.NXST
2020-09-30	44	$142.0M	18	1BRK-B 2GLIBAEUR 3POST Top holdings2020-09-30 1.BRK-B 2.GLIBAEUR 3.POST 4.CEF 5.CHTR 6.MKL 7.TDG 8.NXST 9.ROST 10.HEI-A
2020-06-30	36	$121.4M	25	1BRK-B 2POST 3GLIBAEUR Top holdings2020-06-30 1.BRK-B 2.POST 3.GLIBAEUR 4.CEF 5.CHTR 6.TDG 7.MKL 8.NXST 9.ROST 10.HEI-A
2020-03-31	33	$94.4M	31	1BRK-B 2POST 3GLIBAEUR Top holdings2020-03-31 1.BRK-B 2.POST 3.GLIBAEUR 4.CEF 5.MKL 6.CHTR 7.TDG 8.HEI-A 9.PXH 10.BXMT
2019-12-31	35	$111.4M	—	1BRK-B 2POST 3GLIBAEUR Top holdings2019-12-31 1.BRK-B 2.POST 3.GLIBAEUR 4.TDG 5.CEF 6.BXMT 7.CHTR 8.NXST 9.PXH 10.HEI-A

Holding changes this quarter

PYA Waltman Capital, LLC's most significant position changes for 2026-03-31: Sold out: Nomad Foods Limited (NOMD); Sold out: Ishares Core U.s. Aggregate (AGG); Sold out: Ss Spdr S&p 500 ETF Trust-us (SPY); Sold out: Visa Inc-class A Shares (V); Sold out: Grayscale Bitcoin Mini ETF (BTC).

Position changes disclosed by PYA Waltman Capital, LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	POST	Post Holdings INC	+1.8%	+20.80%	Add
2	AMZN	Amazon.com INC	+1.4%	+40.88%	Add
3	ROP	Roper Technologies INC	+1.3%	+104.53%	Add
4	PEP	Pepsico INC	+0.8%	+125.05%	Add
5	VGIT	Vanguard Intermediate-term T	+0.7%	+67.82%	Add
6	PG	Procter & Gamble Co/the	+0.7%	+123.18%	Add
7	CVX	Chevron CORP	+0.6%	+95.43%	Add
8	ETSY	Etsy INC	+0.6%	+169.71%	Add
9	JNJ	Johnson & Johnson	+0.5%	-0.85%	Trim
10	LMT	Lockheed Martin CORP	+0.4%	+40.35%	Add
11	AMT	American Tower CORP	+0.3%	+143.97%	Add
12	HD	Home Depot INC	+0.3%	+36.31%	Add
13	BRK-B	Berkshire Hathaway Inc-cl B	+0.3%	+4.14%	Add
14	TXN	Texas Instruments INC	+0.2%	+1.62%	Add
15	VZ	Verizon Communications INC	+0.1%	+12.41%	Add
16	AMGN	Amgen INC	+0.1%	+0.23%	Add
17	UPS	United Parcel Service-cl B	+0.1%	+6.45%	Add
18	XOM	Exxon Mobil CORP	+0.1%	-0.59%	Trim
19	DHR	Danaher CORP	+0.1%	+19.30%	Add
20	APD	Air Products & Chemicals INC	+0.1%	+12.14%	Add
21	NEE	Nextera Energy INC	+0.1%	+0.62%	Add
22	GEV	GE Vernova INC	0%	—	Unchanged
23	GLD	Spdr Gold Shares	-0.1%	-25.21%	Trim
24	FETH	Fidelity Ethereum Fund	-0.1%	+20.35%	Add
25	NVR	Nvr INC	-0.1%	-1.13%	Trim
26	TROW	T Rowe Price Group INC	-0.1%	-7.98%	Trim
27	BLD	Topbuild CORP	-0.1%	+4.25%	Add
28	ETHE	Grayscale Ethereum Staking E	-0.1%	-3.25%	Trim
29	ALL	Allstate CORP	-0.1%	-14.40%	Trim
30	TDG	Transdigm Group INC	-0.1%	+7.54%	Add
31	FBTC	Fidelity Wise Origin Bitcoin	-0.1%	+10.25%	Add
32	GBTC	Grayscale Bitcoin Trust ETF	-0.1%	-3.42%	Trim
33	SPGI	S&p Global INC	-0.2%	+14.46%	Add
34	MSFT	Microsoft CORP	-0.2%	-11.54%	Trim
35	MTN	Vail Resorts INC	-0.2%	-15.77%	Trim
36	JPM	Jpmorgan Chase & Co	-0.3%	-25.67%	Trim
37	GOOGL	Alphabet Inc-cl A	-0.4%	-0.53%	Trim
38	MKL	Markel Group INC	-0.4%	+2.19%	Add
39	HEI-A	Heico Corp-class A	-0.5%	+2.17%	Add
40	AVGO	Broadcom INC	-0.5%	-28.14%	Trim
41	CEF	Sprott Physical Gold And Sil	-1.9%	-46.77%	Trim
42	TCAF	T Rowe Prc Cap Appreciation	-3%	-24.01%	Trim
43	NOMD	Nomad Foods Limited	—	EXIT	Sold out
44	AGG	Ishares Core U.s. Aggregate	—	EXIT	Sold out
45	SPY	Ss Spdr S&p 500 ETF Trust-us	—	EXIT	Sold out
46	V	Visa Inc-class A Shares	—	EXIT	Sold out
47	BTC	Grayscale Bitcoin Mini ETF	—	EXIT	Sold out
48	HL	Hecla Mining Co	—	EXIT	Sold out
49	FHN	First Horizon CORP	—	EXIT	Sold out
50	WPM	Wheaton Precious Metals CORP	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-13	13F-HR	View on EDGAR
2025-12-31	2026-02-13	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-05-01	13F-HR	View on EDGAR
2024-12-31	2025-02-03	13F-HR	View on EDGAR
2024-09-30	2024-11-15	13F-HR	View on EDGAR
2024-06-30	2024-08-12	13F-HR	View on EDGAR
2024-03-31	2024-05-13	13F-HR	View on EDGAR
2023-12-31	2024-02-05	13F-HR	View on EDGAR
2023-09-30	2023-11-13	13F-HR	View on EDGAR
2023-06-30	2023-08-15	13F-HR	View on EDGAR
2023-03-31	2023-05-09	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-04	13F-HR	View on EDGAR
2022-06-30	2022-08-12	13F-HR	View on EDGAR
2022-03-31	2022-05-09	13F-HR	View on EDGAR
2021-12-31	2022-02-07	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-10	13F-HR	View on EDGAR
2021-03-31	2021-05-10	13F-HR	View on EDGAR
2020-12-31	2021-02-03	13F-HR	View on EDGAR
2020-09-30	2020-11-04	13F-HR	View on EDGAR
2020-06-30	2020-11-04	Amendment	View on EDGAR
2020-06-30	2020-08-13	13F-HR	View on EDGAR
2020-03-31	2020-05-14	13F-HR	View on EDGAR
2019-12-31	2020-02-13	13F-HR	View on EDGAR

FAQ

What is PYA Waltman Capital, LLC and what type of investor is it?

PYA Waltman Capital, LLC is an 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 $360.7M, spread across 67 disclosed positions.

What are PYA Waltman Capital, LLC's largest equity positions?

Based on the latest 13F filing, PYA Waltman Capital, LLC's top holdings by market value are: 1. Berkshire Hathaway Inc-cl B (BRK-B) — $38.1M (10.6%) 2. Post Holdings INC (POST) — $32.5M (9.0%) 3. T Rowe Prc Cap Appreciation (TCAF) — $29.6M (8.2%) 4. Markel Group INC (MKL) — $21.8M (6.0%) 5. Alphabet Inc-cl A (GOOGL) — $21.5M (6.0%)

What changes did PYA Waltman Capital, LLC make in its most recent portfolio filing?

In the latest reported quarter, PYA Waltman Capital, LLC made 49 notable position adjustments: 0 new positions were initiated, 26 existing holdings were added to, 15 positions were partially reduced, and 8 were completely exited. The largest of these moves: Sold out: Nomad Foods Limited (NOMD); Sold out: Ishares Core U.s. Aggregate (AGG); Sold out: Ss Spdr S&p 500 ETF Trust-us (SPY); Sold out: Visa Inc-class A Shares (V); Sold out: Grayscale Bitcoin Mini ETF (BTC)

What sectors does PYA Waltman Capital, LLC focus on?

PYA Waltman Capital, LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Financials: 28.6% • Consumer Staples: 14.5% • Consumer Discretionary: 13.2% • Health Care: 12.0% • Industrials: 10.9% • Information Technology: 9.0%

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PYA Waltman Capital, LLC Holdings Report (13F Filings)

CIK: 0001800135

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$360.7M

Reporting period: 2026-03-31 · Number of holdings: 67

PYA Waltman Capital, LLC disclosed 67 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $360.7M and a quarterly turnover rate of 21.7%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "P"

Personality snowflake

Concentration: 19.09
Portfolio Stability: 21.69
Momentum/Contrarian: 100
Sector conviction: 48.47
Diversification: 100
Sizing Uniformity: 85.06

Position sizes vary widely across the portfolio (a coefficient of variation of 1.49), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Trim TCAF
-24.0%　-$12.2M
Trim CEF
-46.8%　-$7.3M
Add POST
+20.8%　$5.6M
Add AMZN
+40.9%　$4.4M
Add ROP
+104.5%　$4.4M
Add PEP
+125.0%　$2.8M

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	10.57%	+0.25%	+4.14%
2	POST	Post Holdings INC	Stock-Consumer Staples	9.02%	+1.77%	+20.80%
3	TCAF	T Rowe Prc Cap Appreciation	ETF-Other	8.22%	-3.03%	-24.01%
4	MKL	Markel Group INC	Stock-Financials	6.05%	-0.39%	+2.19%
5	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	5.95%	-0.36%	-0.53%
6	AMZN	Amazon.com INC	Stock-Consumer Disc	5.73%	+1.36%	+40.88%
7	TDG	Transdigm Group INC	Stock-Industrials	4.23%	-0.14%	+7.54%
8	DHR	Danaher CORP	Stock-Healthcare	4.05%	+0.08%	+19.30%
9	HEI-A	Heico Corp-class A	Stock-Other	3.65%	-0.49%	+2.17%
10	SPGI	S&p Global INC	Stock-Financials	3.53%	-0.15%	+14.46%
11	ROP	Roper Technologies INC	Stock-Tech	3.17%	+1.28%	+104.53%
12	JNJ	Johnson & Johnson	Stock-Healthcare	2.81%	+0.49%	-0.85%
13	CEF	Sprott Physical Gold And Sil	Stock-Other	2.53%	-1.89%	-46.77%
14	VGIT	Vanguard Intermediate-term T	ETF-Other	1.75%	+0.74%	+67.82%
15	AMGN	Amgen INC	Stock-Healthcare	1.34%	+0.13%	+0.23%
16	PEP	Pepsico INC	Stock-Consumer Staples	1.33%	+0.80%	+125.05%
17	ABBV	Abbvie INC	Stock-Healthcare	1.28%	—	+2.90%
18	TXN	Texas Instruments INC	Stock-Tech	1.26%	+0.19%	+1.62%
19	PG	Procter & Gamble Co/the	Stock-Consumer Staples	1.22%	+0.69%	+123.18%
20	UPS	United Parcel Service-cl B	Stock-Industrials	1.21%	+0.10%	+6.45%
21	FBTC	Fidelity Wise Origin Bitcoin	ETF-Crypto	1.07%	-0.14%	+10.25%
22	HD	Home Depot INC	Stock-Consumer Disc	1.05%	+0.27%	+36.31%
23	CVX	Chevron CORP	Stock-Energy	1.01%	+0.64%	+95.43%
24	BLD	Topbuild CORP	Stock-Industrials	1.01%	-0.10%	+4.25%
25	AVGO	Broadcom INC	Stock-Tech	0.99%	-0.51%	-28.14%
26	MTN	Vail Resorts INC	Stock-Consumer Disc	0.96%	-0.18%	-15.77%
27	NVR	Nvr INC	Stock-Consumer Disc	0.96%	-0.08%	-1.13%
28	ETSY	Etsy INC	Stock-Consumer Disc	0.91%	+0.55%	+169.71%
29	LMT	Lockheed Martin CORP	Stock-Industrials	0.89%	+0.40%	+40.35%
30	GD	General Dynamics CORP	Stock-Industrials	0.88%	—	-0.88%
31	ALL	Allstate CORP	Stock-Financials	0.82%	-0.11%	-14.40%
32	JPM	Jpmorgan Chase & Co	Stock-Financials	0.77%	-0.33%	-25.67%
33	AAPL	Apple INC	Stock-Tech	0.70%	—	+4.42%
34	VGSH	Vanguard Short-term Treasury	ETF-Gov Bonds	0.65%	—	-2.94%
35	AMT	American Tower CORP	Stock-Real Estate	0.55%	+0.33%	+143.97%
36	TRV	Travelers Cos Inc/the	Stock-Financials	0.50%	—	-2.45%
37	TROW	T Rowe Price Group INC	Stock-Financials	0.48%	-0.09%	-7.98%
38	GBTC	Grayscale Bitcoin Trust ETF	ETF-Crypto	0.47%	-0.14%	-3.42%
39	FETH	Fidelity Ethereum Fund	ETF-Other	0.46%	-0.07%	+20.35%
40	VZ	Verizon Communications INC	Stock-Comm Services	0.46%	+0.14%	+12.41%
41	CSCO	Cisco Systems INC	Stock-Tech	0.44%	—	-0.46%
42	NEE	Nextera Energy INC	Stock-Utilities	0.42%	+0.07%	+0.62%
43	MCD	Mcdonald's CORP	Stock-Consumer Disc	0.39%	—	-2.76%
44	MSFT	Microsoft CORP	Stock-Tech	0.38%	-0.16%	-11.54%
45	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	0.34%	—	+8.36%
46	GLD	Spdr Gold Shares	ETF-Commodities	0.32%	-0.06%	-25.21%
47	SBUX	Starbucks CORP	Stock-Consumer Disc	0.31%	—	+1.10%
48	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	0.30%	—	—
49	APD	Air Products & Chemicals INC	Stock-Materials	0.26%	+0.07%	+12.14%
50	XOM	Exxon Mobil CORP	Stock-Energy	0.24%	+0.08%	-0.59%

1–50 of 67

Portfolio Performance

Performance for Q3 2026

+0.2%

Performance Last 4 Quarters

+7.8%

Based on 77% of reported portfolio value with available pricing

Stdev: +10.4%
Beta: +0.69
Alpha: +0.8%
Max Drawdown: -8%
Annualized Perf: +13.9%
Batting Avg vs S&P: +38.9%
Sortino: +2.54
Stutzer: +0.38
Treynor: +0.2
Sterling: +0.88
Calmar: +1.73
Information Ratio: -0.74
Tracking Error: +6.6%
Stdev Down: +5.4%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +29.7%
Worst 12 Months: +7.5%
Efficiency Ratio: +0.52
Sharpe: +1.31
Stdev Sectors: +8%
Skewness: -0.03
Kurtosis: +0.61
Upside Potential: +4.13

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	67	$360.7M	22	1BRK-B 2POST 3TCAF Top holdings2026-03-31 1.BRK-B 2.POST 3.TCAF 4.MKL 5.GOOGL 6.AMZN 7.TDG 8.DHR 9.HEI-A 10.SPGI
2025-12-31	75	$372.2M	17	1TCAF 2BRK-B 3POST Top holdings2025-12-31 1.TCAF 2.BRK-B 3.POST 4.MKL 5.GOOGL 6.CEF 7.TDG 8.AMZN 9.HEI-A 10.DHR
2025-09-30	80	$373.2M	29	1BRK-B 2POST 3TCAF Top holdings2025-09-30 1.BRK-B 2.POST 3.TCAF 4.MKL 5.GOOGL 6.CEF 7.TDG 8.HEI-A 9.AMZN 10.ROP
2025-06-30	76	$347.4M	0	1BRK-B 2TCAF 3MKL Top holdings2025-06-30 1.BRK-B 2.TCAF 3.MKL 4.POST 5.TDG 6.ROST 7.HEI-A 8.CEF 9.AMZN 10.GOOGL
2025-03-31	75	$318.1M	100	1BRK-B 2TCAF 3POST Top holdings2025-03-31 1.BRK-B 2.TCAF 3.POST 4.MKL 5.ROST 6.TDG 7.CEF 8.HEI-A 9.AMZN 10.SPGI
2024-12-31	78	$310.4M	0	1BRK-B 2TCAF 3ROST Top holdings2024-12-31 1.BRK-B 2.TCAF 3.ROST 4.MKL 5.POST 6.TDG 7.AMZN 8.GOOGL 9.CEF 10.HEI-A
2024-09-30	73	$306.0M	0	1BRK-B 2ROST 3TCAF Top holdings2024-09-30 1.BRK-B 2.ROST 3.TCAF 4.POST 5.MKL 6.TDG 7.HEI-A 8.CEF 9.SPGI 10.AMZN
2024-06-30	66	$272.3M	0	1BRK-B 2ROST 3TCAF Top holdings2024-06-30 1.BRK-B 2.ROST 3.TCAF 4.MKL 5.POST 6.TDG 7.CEF 8.GOOGL 9.HEI-A 10.AMZN
2024-03-31	66	$269.6M	0	1BRK-B 2ROST 3TDG Top holdings2024-03-31 1.BRK-B 2.ROST 3.TDG 4.TCAF 5.MKL 6.POST 7.CEF 8.GOOGL 9.AMZN 10.HEI-A
2023-12-31	66	$240.2M	0	1BRK-B 2ROST 3TDG Top holdings2023-12-31 1.BRK-B 2.ROST 3.TDG 4.MKL 5.TCAF 6.POST 7.CEF 8.SPGI 9.GOOGL 10.HEI-A
2023-09-30	62	$236.1M	0	1BRK-B 2MKL 3ROST Top holdings2023-09-30 1.BRK-B 2.MKL 3.ROST 4.VGSH 5.TDG 6.TCAF 7.POST 8.CEF 9.GOOGL 10.SPGI
2023-06-30	61	$232.1M	0	1BRK-B 2MKL 3ROST Top holdings2023-06-30 1.BRK-B 2.MKL 3.ROST 4.VGSH 5.TDG 6.POST 7.CEF 8.GOOGL 9.SPGI 10.HEI-A
2023-03-31	60	$201.4M	0	1BRK-B 2VGSH 3ROST Top holdings2023-03-31 1.BRK-B 2.VGSH 3.ROST 4.MKL 5.TDG 6.CEF 7.POST 8.SPGI 9.HEI-A 10.GOOGL
2022-12-31	60	$190.5M	0	1BRK-B 2ROST 3MKL Top holdings2022-12-31 1.BRK-B 2.ROST 3.MKL 4.VGSH 5.TDG 6.POST 7.CEF 8.SPGI 9.HEI-A 10.LBRDK
2022-09-30	208	$170.3M	0	1BRK-B 2ROST 3MKL Top holdings2022-09-30 1.BRK-B 2.ROST 3.MKL 4.POST 5.CEF 6.TDG 7.VGSH 8.SPGI 9.HEI-A 10.LBRDK
2022-06-30	219	$179.3M	0	1BRK-B 2POST 3MKL Top holdings2022-06-30 1.BRK-B 2.POST 3.MKL 4.LBRDK 5.CEF 6.ROST 7.TDG 8.SPGI 9.BXMT 10.HEI-A
2022-03-31	209	$203.0M	0	1BRK-B 2MKL 3LBRDK Top holdings2022-03-31 1.BRK-B 2.MKL 3.LBRDK 4.POST 5.CEF 6.TDG 7.ROST 8.SPGI 9.BXMT 10.HEI-A
2021-12-31	205	$193.9M	0	1BRK-B 2POST 3LBRDK Top holdings2021-12-31 1.BRK-B 2.POST 3.LBRDK 4.MKL 5.CEF 6.TDG 7.ROST 8.HEI-A 9.BXMT 10.QVCAUSD
2021-09-30	38	$184.4M	0	1BRK-B 2POST 3LBRDK Top holdings2021-09-30 1.BRK-B 2.POST 3.LBRDK 4.MKL 5.CEF 6.TDG 7.QVCAUSD 8.ROST 9.HEI-A 10.BXMT
2021-06-30	38	$192.0M	100	1BRK-B 2LBRDK 3POST Top holdings2021-06-30 1.BRK-B 2.LBRDK 3.POST 4.CEF 5.MKL 6.TDG 7.QVCAUSD 8.CHTR 9.ROST 10.HEI-A
2021-03-31	47	$176.2M	11	1BRK-B 2POST 3LBRDK Top holdings2021-03-31 1.BRK-B 2.POST 3.LBRDK 4.MKL 5.CEF 6.CHTR 7.TDG 8.ROST 9.QVCAUSD 10.HEI-A
2020-12-31	52	$167.8M	34	1BRK-B 2POST 3LBRDK Top holdings2020-12-31 1.BRK-B 2.POST 3.LBRDK 4.CEF 5.CHTR 6.TDG 7.MKL 8.QVCAUSD 9.ROST 10.NXST
2020-09-30	44	$142.0M	18	1BRK-B 2GLIBAEUR 3POST Top holdings2020-09-30 1.BRK-B 2.GLIBAEUR 3.POST 4.CEF 5.CHTR 6.MKL 7.TDG 8.NXST 9.ROST 10.HEI-A
2020-06-30	36	$121.4M	25	1BRK-B 2POST 3GLIBAEUR Top holdings2020-06-30 1.BRK-B 2.POST 3.GLIBAEUR 4.CEF 5.CHTR 6.TDG 7.MKL 8.NXST 9.ROST 10.HEI-A
2020-03-31	33	$94.4M	31	1BRK-B 2POST 3GLIBAEUR Top holdings2020-03-31 1.BRK-B 2.POST 3.GLIBAEUR 4.CEF 5.MKL 6.CHTR 7.TDG 8.HEI-A 9.PXH 10.BXMT
2019-12-31	35	$111.4M	—	1BRK-B 2POST 3GLIBAEUR Top holdings2019-12-31 1.BRK-B 2.POST 3.GLIBAEUR 4.TDG 5.CEF 6.BXMT 7.CHTR 8.NXST 9.PXH 10.HEI-A

Holding changes this quarter

Position changes disclosed by PYA Waltman Capital, LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	POST	Post Holdings INC	+1.8%	+20.80%	Add
2	AMZN	Amazon.com INC	+1.4%	+40.88%	Add
3	ROP	Roper Technologies INC	+1.3%	+104.53%	Add
4	PEP	Pepsico INC	+0.8%	+125.05%	Add
5	VGIT	Vanguard Intermediate-term T	+0.7%	+67.82%	Add
6	PG	Procter & Gamble Co/the	+0.7%	+123.18%	Add
7	CVX	Chevron CORP	+0.6%	+95.43%	Add
8	ETSY	Etsy INC	+0.6%	+169.71%	Add
9	JNJ	Johnson & Johnson	+0.5%	-0.85%	Trim
10	LMT	Lockheed Martin CORP	+0.4%	+40.35%	Add
11	AMT	American Tower CORP	+0.3%	+143.97%	Add
12	HD	Home Depot INC	+0.3%	+36.31%	Add
13	BRK-B	Berkshire Hathaway Inc-cl B	+0.3%	+4.14%	Add
14	TXN	Texas Instruments INC	+0.2%	+1.62%	Add
15	VZ	Verizon Communications INC	+0.1%	+12.41%	Add
16	AMGN	Amgen INC	+0.1%	+0.23%	Add
17	UPS	United Parcel Service-cl B	+0.1%	+6.45%	Add
18	XOM	Exxon Mobil CORP	+0.1%	-0.59%	Trim
19	DHR	Danaher CORP	+0.1%	+19.30%	Add
20	APD	Air Products & Chemicals INC	+0.1%	+12.14%	Add
21	NEE	Nextera Energy INC	+0.1%	+0.62%	Add
22	GEV	GE Vernova INC	0%	—	Unchanged
23	GLD	Spdr Gold Shares	-0.1%	-25.21%	Trim
24	FETH	Fidelity Ethereum Fund	-0.1%	+20.35%	Add
25	NVR	Nvr INC	-0.1%	-1.13%	Trim
26	TROW	T Rowe Price Group INC	-0.1%	-7.98%	Trim
27	BLD	Topbuild CORP	-0.1%	+4.25%	Add
28	ETHE	Grayscale Ethereum Staking E	-0.1%	-3.25%	Trim
29	ALL	Allstate CORP	-0.1%	-14.40%	Trim
30	TDG	Transdigm Group INC	-0.1%	+7.54%	Add
31	FBTC	Fidelity Wise Origin Bitcoin	-0.1%	+10.25%	Add
32	GBTC	Grayscale Bitcoin Trust ETF	-0.1%	-3.42%	Trim
33	SPGI	S&p Global INC	-0.2%	+14.46%	Add
34	MSFT	Microsoft CORP	-0.2%	-11.54%	Trim
35	MTN	Vail Resorts INC	-0.2%	-15.77%	Trim
36	JPM	Jpmorgan Chase & Co	-0.3%	-25.67%	Trim
37	GOOGL	Alphabet Inc-cl A	-0.4%	-0.53%	Trim
38	MKL	Markel Group INC	-0.4%	+2.19%	Add
39	HEI-A	Heico Corp-class A	-0.5%	+2.17%	Add
40	AVGO	Broadcom INC	-0.5%	-28.14%	Trim
41	CEF	Sprott Physical Gold And Sil	-1.9%	-46.77%	Trim
42	TCAF	T Rowe Prc Cap Appreciation	-3%	-24.01%	Trim
43	NOMD	Nomad Foods Limited	—	EXIT	Sold out
44	AGG	Ishares Core U.s. Aggregate	—	EXIT	Sold out
45	SPY	Ss Spdr S&p 500 ETF Trust-us	—	EXIT	Sold out
46	V	Visa Inc-class A Shares	—	EXIT	Sold out
47	BTC	Grayscale Bitcoin Mini ETF	—	EXIT	Sold out
48	HL	Hecla Mining Co	—	EXIT	Sold out
49	FHN	First Horizon CORP	—	EXIT	Sold out
50	WPM	Wheaton Precious Metals CORP	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-13	13F-HR	View on EDGAR
2025-12-31	2026-02-13	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-05-01	13F-HR	View on EDGAR
2024-12-31	2025-02-03	13F-HR	View on EDGAR
2024-09-30	2024-11-15	13F-HR	View on EDGAR
2024-06-30	2024-08-12	13F-HR	View on EDGAR
2024-03-31	2024-05-13	13F-HR	View on EDGAR
2023-12-31	2024-02-05	13F-HR	View on EDGAR
2023-09-30	2023-11-13	13F-HR	View on EDGAR
2023-06-30	2023-08-15	13F-HR	View on EDGAR
2023-03-31	2023-05-09	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-04	13F-HR	View on EDGAR
2022-06-30	2022-08-12	13F-HR	View on EDGAR
2022-03-31	2022-05-09	13F-HR	View on EDGAR
2021-12-31	2022-02-07	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-10	13F-HR	View on EDGAR
2021-03-31	2021-05-10	13F-HR	View on EDGAR
2020-12-31	2021-02-03	13F-HR	View on EDGAR
2020-09-30	2020-11-04	13F-HR	View on EDGAR
2020-06-30	2020-11-04	Amendment	View on EDGAR
2020-06-30	2020-08-13	13F-HR	View on EDGAR
2020-03-31	2020-05-14	13F-HR	View on EDGAR
2019-12-31	2020-02-13	13F-HR	View on EDGAR