13F filing recap · Q4 2024

What did Giverny Capital buy in Q4 2024?

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

Stock value

$2.74B

Positions

Estimated turnover

8.3%

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.

Quarter in review

Giverny Capital opened new positions in Brown & Brown, Ferguson Enterprises, Birkenstock, UnitedHealth Group, Liberty Broadband, Microsoft, Jacobs Solutions, Grayscale Bitcoin Trust ETF, Doubleline Capital, Vanguard Index Funds, and Intuitive Surgical, while exiting Liberty Media. The firm also increased its stake in Fiserv, Align Technology, and a Berkshire Hathaway position, and dramatically added to Arista Networks. It trimmed Keysight Technologies, Analog Devices, and substantially reduced Edwards Lifesciences.

New positions

BROBrown & Brown, Inc.$30.08Mreported value+294.8K shares FERGFerguson Enterprises Inc.$5.85Mreported value+33.7K shares BIRKBirkenstock Holding Plc$1.55Mreported value+27.4K shares UNHUnitedHealth Group Incorporated$1.20Mreported value+2.4K shares

Increased positions

BRK.BBerkshire Hathaway Inc$229.16Mreported value+16.2K shares+3.3%METAMeta Platforms, Inc.$184.49Mreported value+5.2K shares+1.7%AMEAmetek, Inc.$175.66Mreported value+15.2K shares+1.6%HEI.AHeico Corporation$138.01Mreported value+8.7K shares

Reduced positions

KEYSKeysight Technologies, Inc.$53.30Mreported value-149.2K shares-31.0%ADIAnalog Devices, Inc.$36.50Mreported value-34.3K shares-16.7%EWEdwards Lifesciences Corporation$19.0Kreported value-446.0K shares-99.9%

Exited positions

FWONKLiberty Media Corporation$1.16Mprior reported value-15.0K shares-100.0%