Francois Rochon - Giverny Capital 13F Activity & Position Changes (Q1 2021)

According to the SEC 13F filed on May 17, 2021, the Giverny Capital portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2021. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2021, the filing reported:

New Buys - iShares U.S. Financial ETF

Increases - AMETEK, Inc., Amazon.com, Inc., Arista Networks, Inc., Autohome Inc., Bank of America Corporation, and 24 more

Reductions - Apple Inc., Walt Disney Company (The), CarMax Inc, Bank OZK, SPDR S&P 500, and 2 more

Complete Exits - Wayfair Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2021	AAPL Apple Inc.	Apple Inc.	Sell	-85	-0.7%	$1.44K	11,819
Q1 2021	AME AMETEK, Inc.	AMETEK, Inc.	Buy	+5,417	+0.8%	$91.70K	717,954
Q1 2021	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+24	+5.2%	$1.52K	490
Q1 2021	ANET Arista Networks, Inc.	Arista Networks, Inc.	Buy	+813	+5.0%	$5.17K	17,132
Q1 2021	ATHM Autohome Inc.	Autohome Inc.	Buy	+10,412	+3.3%	$30.38K	325,678
Q1 2021	BAC Bank of America Corporation	Bank of America Corporation	Buy	+11,690	+0.9%	$49.88K	1,289,338
Q1 2021	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+15,402	+2.2%	$180.29K	705,719
Q1 2021	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Buy	+946	+9.7%	$3.86K	10,703
Q1 2021	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-445	-0.2%	$34.69K	187,998
Q1 2021	EW Edwards Lifesciences Corporatio	Edwards Lifesciences Corporatio	Buy	+2,326	+0.6%	$32.63K	390,140
Q1 2021	FBIN Fortune Brands Innovations, Inc	Fortune Brands Innovations, Inc	Buy	+8,555	+1.7%	$50.26K	524,553
Q1 2021	FIVE Five Below, Inc.	Five Below, Inc.	Buy	+5,809	+2.0%	$57.94K	303,705
Q1 2021	FRCB First Republic Bank (San Franci	First Republic Bank (San Franci	Buy	+738	+4.0%	$3.24K	19,409
Q1 2021	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+225	+0.6%	$77.12K	37,279
Q1 2021	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+116	+1.4%	$17.86K	8,658
Q1 2021	HCSG Healthcare Services Group, Inc.	Healthcare Services Group, Inc.	Buy	+2,463	+0.7%	$10.21K	364,312
Q1 2021	HEI-A Heico Corporation	Heico Corporation	Buy	+14,222	+2.7%	$62.52K	550,321
Q1 2021	ICE Intercontinental Exchange Inc.	Intercontinental Exchange Inc.	Buy	+8,730	+3.2%	$31.68K	283,701
Q1 2021	IYF iShares U.S. Financial ETF	iShares U.S. Financial ETF	Buy - Position Entry	+3,110	-	$233.00	3,110
Q1 2021	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy	+8,817	+2.6%	$53.95K	354,432
Q1 2021	KEYS Keysight Technologies Inc.	Keysight Technologies Inc.	Buy	+3,400	+0.8%	$58.45K	407,590
Q1 2021	KMX CarMax Inc	CarMax Inc	Sell	-46,613	-4.2%	$141.86K	1,069,324
Q1 2021	LBRDK Liberty Broadband Corporation	Liberty Broadband Corporation	Buy	+933	+4.5%	$3.26K	21,730
Q1 2021	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+344	+3.6%	$3.56K	9,989
Q1 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+12,025	+5.5%	$68.22K	231,615
Q1 2021	MKL Markel Group Inc.	Markel Group Inc.	Buy	+21,330	+45.6%	$77.59K	68,082
Q1 2021	NVR NVR, Inc.	NVR, Inc.	Buy	+252	+1.8%	$68.54K	14,549
Q1 2021	OZK Bank OZK	Bank OZK	Sell	-179,422	-50.4%	$7.22K	176,670
Q1 2021	PGR Progressive Corporation (The)	Progressive Corporation (The)	Buy	+21,278	+3.3%	$64.58K	675,502
Q1 2021	ROP Roper Technologies, Inc.	Roper Technologies, Inc.	Buy	+90	+7.2%	$538.00	1,335

Page 1 of 2