13F filing recap · Q1 2016

What did Giverny Capital buy in Q1 2016?

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

Stock value

$508.54M

Positions

Estimated turnover

21.8%

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

FBINFortune Brands Innovations, Inc.$10.33Mreported value+184.4K shares BCPCBalchem Corp$141.0Kreported value+2.3K shares

Increased positions

BRK.BBerkshire Hathaway Inc$89.25Mreported value+24.0K shares+4.0%OZKBank Ozk$44.77Mreported value+143.7K shares+15.6%KMXCarmax, Inc.$42.16Mreported value+144.4K shares+21.2%LKQLkq Corporation$38.93Mreported value+35.1K shares

Reduced positions

WFCWells Fargo & Company/mn$23.48Mreported value-91.5K shares-15.9%ORLYO Reilly Automotive Inc$21.41Mreported value-234 shares-0.3%GOOGLAlphabet Inc.$4.68Mreported value-75 shares-1.2%FASTFastenal Co$200.0Kreported value-254.1K shares

Exited positions

IBMInternational Business Machines Corp$13.21Mprior reported value-96.0K shares-100.0%VRXValeant Pharmaceuticals International, Inc.$12.98Mprior reported value-127.7K shares-100.0%PRAAPra Group, Inc$6.72Mprior reported value-193.6K shares-100.0%