13F filing recap · Q3 2015

What did Giverny Capital buy in Q3 2015?

Reported stock-position changes between this filing and the previous one.

Stock value

$497.23M

Positions

Estimated turnover

13.5%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

SRCLStericycle, Inc.$585.0Kreported value+4.2K shares

Increased positions

BRK.BBerkshire Hathaway Inc$76.74Mreported value+66.3K shares+12.7%OZKBank Ozk$40.36Mreported value+45.9K shares+5.2%KMXCarmax, Inc.$38.73Mreported value+119.7K shares+22.4%DISWalt Disney Co/$35.92Mreported value+11.1K shares

Reduced positions

WFCWells Fargo & Company/mn$29.01Mreported value-69.5K shares-11.0%GOOGLAlphabet Inc.$3.97Mreported value-13 shares-0.2%

Exited positions

PCPPrecision Castparts Corp$18.45Mprior reported value-92.3K shares-100.0%