13F filing recap · Q4 2018

What did Giverny Capital buy in Q4 2018?

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

Stock value

$758.69M

Positions

Estimated turnover

19.1%

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

OZKBank Ozk$15.34Mreported value+672.0K shares

Increased positions

MKLMarkel Group Inc.$35.75Mreported value+227 shares+0.7%GOOGAlphabet Inc.$35.41Mreported value+251 shares+0.7%NVRNvr, Inc.$32.64Mreported value+6.4K shares+91.0%JPMJPMorgan Chase & Co$29.50Mreported value+95.4K shares

Reduced positions

BRK.BBerkshire Hathaway Inc$164.98Mreported value-4.5K shares-0.6%KMXCarmax, Inc.$72.49Mreported value-13.9K shares-1.2%AMEAmetek, Inc.$51.83Mreported value-5.5K shares-0.7%VVisa Inc.$39.29Mreported value-4.8K shares

Exited positions

OZKBank Ozk$51.10Mprior reported value-1.35M shares-100.0%RYAAYRyanair Holdings Plc$240.0Kprior reported value-2.5K shares-100.0%