Giverny Capital Inc.

RIA/Wealth • Value

Giverny Capital Inc. is a Value-focused institution led by Francois Rochon, managing $3.0B across 52 long positions as of Q3 2025 with 33% Financial Services concentration and 58% concentrated in top 10 holdings.

CEOFrancois Rochon

Portfolio Value: $3.0B
Positions: 52
Top Holding: BRK.B at 8.7%
Last Reported: Q3 2025

Address759, Square-victoria Street, Suite 105, Montreal, H2Y 2J7, Canada

Top Holdings

Largest long holdings in Giverny Capital Inc.'s portfolio (57.6% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$256.7M	8.70%	-$573.1K Sold	0.02% 510.6K shares	Q4 2019 Held for 5y 11m
2 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$229.0M	7.76%	-$5.2M Sold	0.01% 311.8K shares	Q2 2018 Held for 7y 5m
3 Heico Corporation HEI.A	Aerospace & Defense Industrials	$190.4M	6.45%	+$2.3K Bought	0.54% 749.5K shares	Q4 2019 Held for 5y 11m
4 Ametek AME	Industrial - Machinery Industrials	$187.4M	6.35%	+$62.4K Bought	0.43% 996.7K shares	Q2 2015 Held for 10y 5m
5 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$155.4M	5.27%	-$3.8M Sold	0.01% 638.2K shares	Q1 2015 Held for 10y 8m
6 Charles Schwab Corporation SCHW	Financial - Capital Markets Financial Services	$150.4M	5.10%	+$790.6K Bought	0.09% 1.6M shares	Q3 2018 Held for 7y 2m
7 Visa V	Financial - Credit Services Financial Services	$138.4M	4.69%	+$1.4M Bought	0.02% 405.5K shares	Q1 2015 Held for 10y 8m
8 Medpace Holdings, Inc. MEDP	Medical - Diagnostics & Research Healthcare	$134.6M	4.56%	+$24.2K Bought	0.93% 261.8K shares	Q3 2023 Held for 2y 2m
9 Progressive PGR	Insurance - Property & Casualty Financial Services	$131.8M	4.47%	+$3.3M Bought	0.09% 533.9K shares	Q3 2019 Held for 6y 2m
10 Installed Building Products IBP	Construction Industrials	$127.0M	4.30%	+$68.3K Bought	1.90% 514.7K shares	Q4 2021 Held for 3y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Giverny Capital Inc.'s latest filing

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Market Value

$3.0B

Prior: $2.9B

Q/Q Change

+1.21%

+$35.3M

Net Flows % of MV

-5.51%

Turnover Ratio

7.28%

New Purchases

1 stocks

$84.0M

Added To

22 stocks

+$17.5M

Sold Out Of

5 stocks

$228.6M

Reduced Holdings

16 stocks

-$35.4M

Increased Positions

Position	Shares Δ	Change
1 FISV Fiserv, Inc. Common Stock FISV	New	0 → 651.3K +$84.0M
2 Texas Windstorm Insurance Association TWFG	+68.86%	177.8K → 300.3K +$3.4M
3 Kinsale Capital Group KNSL	+6.31%	179.2K → 190.5K +$4.8M
4 Progressive PGR	+2.6%	520.4K → 533.9K +$3.3M
5 Five Below FIVE	+1.79%	625.9K → 637.1K +$1.7M

Decreased Positions

Position	Shares Δ	Change
1 Fiserv FI	Sold	648.6K → 0 −$111.8M
2 Starbucks SBUX	Sold	750.2K → 0 −$68.7M
3 Bank of America BAC	Sold	1.0M → 0 −$47.5M
4 Amazon AMZN	Sold	1.2K → 0 −$257.6K
5 Intuitive Surgical ISRG	Sold	405.0 → 0 −$220.1K