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Giverny Capital Portfolio holdings

AUM $2.73B
1-Year Est. Return 14.09%
This Fund
S&P 500
This Quarter Est. Return
+3.93%
1 Year Est. Return
+14.09%
3 Year Est. Return
+73%
5 Year Est. Return
+84.96%
10 Year Est. Return
+346.67%
AUM
$3B
AUM Growth
+$46.6M
Cap. Flow
-$38.1M
Cap. Flow %
-1.27%
Top 10 Hldgs %
58.7%
Holding
54
New
2
Increased
30
Reduced
6
Closed
4

Top Buys

Rank Stock Value
1
BFAM icon
Bright Horizons
BFAM
+$41.4M
2
BRO icon
Brown & Brown
BRO
+$37.6M
3
DIS icon
Walt Disney
DIS
+$31.3M
4
KNSL icon
Kinsale Capital Group
KNSL
+$9.71M
5
TSM icon
TSMC
TSM
+$2.32M

Top Sells

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$84M
2
KMX icon
CarMax
KMX
+$74.9M
3
ALGN icon
Align Technology
ALGN
+$5.72M
4
AME icon
Ametek
AME
+$3.35M
5
CACC icon
Credit Acceptance
CACC
+$2.58M

Sector Composition

Rank Sector Weight
1 Financials 34.37%
2 Communication Services 19.44%
3 Consumer Discretionary 18.74%
4 Industrials 13.72%
5 Healthcare 6.85%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALGN icon
51
Align Technology
ALGN
$12.1B
– –
-45,691
Closed -$5.72M
CACC icon
52
Credit Acceptance
CACC
$5.95B
– –
-6,874
Closed -$2.58M
FISV
53
Fiserv Inc
FISV
$28.8B
– –
-651,257
Closed -$84M
KMX icon
54
CarMax
KMX
$8.13B
– –
-1,670,114
Closed -$74.9M
1 2
3

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Giverny Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Giverny Capital held 54 positions worth $3B, up 1.6% from $2.95B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Giverny Capital's Q4 2025 filing shows 2 new, 30 increased, 6 reduced and 4 closed positions. Its largest new stake was Bright Horizons: 410,196 shares worth $41.6M. The largest sale was Fiserv Inc, an estimated $84M.

By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 34% a quarter earlier, followed by Communication Services and Consumer Discretionary.

  • Giverny Capital's largest Q4 2025 buy was Bright Horizons: 410,196 shares worth $41.6M.
  • Giverny Capital added most to Brown & Brown in Q4 2025, an estimated $37.6M increase.
  • Giverny Capital's biggest Q4 2025 reduction was Ametek, cutting an estimated $3.35M.
  • Giverny Capital fully exited Fiserv Inc in Q4 2025, selling an estimated $84M.
  • Giverny Capital's ten largest holdings make up 59% of its $3B portfolio in Q4 2025.
  • Giverny Capital opened 2 new positions and closed 4 in Q4 2025.
  • Giverny Capital's portfolio value rose 1.6% quarter-over-quarter to $3B.

Based on Giverny Capital's 13F filing for Q4 2025, filed 13 Feb 2026.