Giverny Capital 13F, Q1 2025
Francois Rochon · quarter ending 31 March 2025 · filed 12 August 2025 · SEC CIK 1641864
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2025
The 25 largest of 54 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2024 filing.
| Company | Ticker | Value | % of book | vs Q4 2024 |
|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRK/B | $268.06M | 9.9% | unchanged |
| META PLATFORMS INC | META | $181.64M | 6.7% | unchanged |
| AMETEK INC | AME | $168.26M | 6.2% | unchanged |
| HEICO CORP NEW | HEI/A | $156.54M | 5.8% | unchanged |
| PROGRESSIVE CORP | PGR | $149.76M | 5.5% | -3% shares |
| FISERV INC | FISV | $139.04M | 5.1% | unchanged |
| VISA INC | V | $137.92M | 5.1% | unchanged |
| CARMAX INC | KMX | $127.92M | 4.7% | -3% shares |
| ALPHABET INC C | GOOG | $101.78M | 3.8% | unchanged |
| NVR INC | NVR | $97.73M | 3.6% | unchanged |
| BOOKING HOLDINGS INC. | BKNG | $97.35M | 3.6% | unchanged |
| INSTALLED BLDG PRODS INC | IBP | $87.11M | 3.2% | unchanged |
| KINSALE CAPITAL GROUP IN | KNSL | $82.72M | 3.0% | +87% shares |
| MARKEL CORP | MKL | $81.14M | 3.0% | unchanged |
| MEDPACE HOLDINGS INC | MEDP | $76.76M | 2.8% | +8% shares |
| SCHWAB CHARLES CORP | SCHW | $74.29M | 2.7% | unchanged |
| STARBUCKS CORP | SBUX | $73.24M | 2.7% | unchanged |
| M & T BK CORP | MTB | $65.70M | 2.4% | unchanged |
| ALPHABET INC | GOOGL | $55.61M | 2.0% | unchanged |
| BANK OZK LITTLE ROCK ARK | OZK | $52.55M | 1.9% | unchanged |
| KEYSIGHT TECHNOLOGIES INC | KEYS | $49.58M | 1.8% | unchanged |
| FIVE BELOW INC | FIVE | $46.57M | 1.7% | -15% shares |
| BANK AMERICA CORP | BAC | $41.65M | 1.5% | unchanged |
| LULULEMON ATHLETICA INC | LULU | $40.53M | 1.5% | unchanged |
| BROWN & BROWN | BRO | $36.65M | 1.4% | unchanged |
What changed since Q4 2024
Against the Q4 2024 filing, Giverny Capital opened 2 new positions, added to 8, trimmed 9, left 35 unchanged and exited 10. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001641864-25-000006, filed by Giverny Capital Inc.. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.