13F filing recap · Q3 2018

What did Giverny Capital buy in Q3 2018?

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

Stock value

$883.14M

Positions

Estimated turnover

18.1%

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

SCHWSchwab Charles Corp$24.88Mreported value+506.1K shares NVRNvr, Inc.$17.33Mreported value+7.0K shares AAPLApple Inc.$480.0Kreported value+2.1K shares HCSGHealthcare Services Group, Inc.$376.0Kreported value+9.3K shares FASTFastenal Co$237.0Kreported value+4.1K shares

Increased positions

BRK.BBerkshire Hathaway Inc$173.97Mreported value+51.1K shares+6.7%KMXCarmax, Inc.$87.33Mreported value+61.6K shares+5.6%AMEAmetek, Inc.$61.01Mreported value+50.2K shares+7.0%OZKBank OzkMIXED CORP ACTION$51.10M

Reduced positions

VVisa Inc.$45.42Mreported value-41.2K shares-12.0%ORLYO Reilly Automotive Inc$17.76Mreported value-44.4K shares-46.5%GOOGLAlphabet Inc.$6.86Mreported value-55 shares-1.0%FIVEFive Below, Inc.$468.0Kreported value-7.4K shares

Exited positions

WFCWells Fargo & Company/mn$18.94Mprior reported value-341.6K shares-100.0%STNStantec Inc.$721.0Kprior reported value-21.3K shares-100.0%CACCCredit Acceptance Corp$351.0Kprior reported value-992 shares-100.0%HBIHanesbrands Inc$270.0Kprior reported value-12.3K shares