Giverny Capital 13F, Q2 2025
Francois Rochon · quarter ending 30 June 2025 · filed 13 August 2025 · SEC CIK 1641864
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2025
The 25 largest of 55 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRK/B | $248.61M | 8.5% | unchanged |
| META PLATFORMS INC | META | $235.38M | 8.1% | unchanged |
| HEICO CORP NEW | HEI/A | $193.93M | 6.7% | unchanged |
| AMETEK INC | AME | $180.30M | 6.2% | unchanged |
| SCHWAB CHARLES CORP | SCHW | $143.02M | 4.9% | +65% shares |
| VISA INC | V | $142.48M | 4.9% | unchanged |
| PROGRESSIVE CORP | PGR | $138.87M | 4.8% | unchanged |
| BOOKING HOLDINGS INC. | BKNG | $123.25M | 4.2% | unchanged |
| ALPHABET INC C | GOOG | $115.96M | 4.0% | unchanged |
| FISERV INC | FISV | $111.82M | 3.8% | +3% shares |
| CARMAX INC | KMX | $111.30M | 3.8% | unchanged |
| NVR INC | NVR | $103.68M | 3.6% | +4% shares |
| INSTALLED BLDG PRODS INC | IBP | $92.77M | 3.2% | unchanged |
| MARKEL CORP | MKL | $87.28M | 3.0% | unchanged |
| KINSALE CAPITAL GROUP IN | KNSL | $86.69M | 3.0% | +5% shares |
| MEDPACE HOLDINGS INC | MEDP | $82.15M | 2.8% | +4% shares |
| FIVE BELOW INC | FIVE | $82.10M | 2.8% | unchanged |
| STARBUCKS CORP | SBUX | $68.75M | 2.4% | unchanged |
| ALPHABET INC | GOOGL | $66.90M | 2.3% | +6% shares |
| BANK OZK LITTLE ROCK ARK | OZK | $59.25M | 2.0% | +4% shares |
| KEYSIGHT TECHNOLOGIES INC | KEYS | $54.66M | 1.9% | unchanged |
| ARISTA NETWORKS INC | ANET | $49.37M | 1.7% | new |
| BANK AMERICA CORP | BAC | $47.51M | 1.6% | unchanged |
| ANALOG DEVICES INC | ADI | $41.92M | 1.4% | +3% shares |
| BROWN & BROWN | BRO | $35.66M | 1.2% | +9% shares |
What changed since Q1 2025
Against the Q1 2025 filing, Giverny Capital opened 3 new positions, added to 19, trimmed 3, left 30 unchanged and exited 2. 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 0001641864-25-000007, 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.