Francois Rochon - Giverny Capital 13F Activity & Position Changes (Q1 2023)

As of Mar 31, 2023, the Giverny Capital portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 12, 2023. 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 2023, the filing reported:

New Buys - Fiserv, Inc.

Increases - Analog Devices, Inc., Autohome Inc., Alibaba Group Holding Limited, Credit Acceptance Corporation, Coherent Corp., and 9 more

Reductions - AMETEK, Inc., Arista Networks, Bank of America Corporation, Brookfield Corporation, Berkshire Hathaway Inc. New, and 25 more

Complete Exits - Costco Wholesale Corporation, First Republic Bank (San Franci, Intercontinental Exchange Inc., ResMed Inc., UnitedHealth Group Incorporated, and 1 more

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 2023	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+2,039	+7.3%	$5.92M	30,029
Q1 2023	AME AMETEK, Inc.	AMETEK, Inc.	Sell	-11,690	-1.4%	$122.31M	841,608
Q1 2023	ANET Arista Networks	Arista Networks	Sell	-783	-0.8%	$16.86M	100,452
Q1 2023	ATHM Autohome Inc.	Autohome Inc.	Buy	+5,819	+1.7%	$11.44M	341,890
Q1 2023	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Buy	+28	+0.6%	$511.31K	5,004
Q1 2023	BAC Bank of America Corporation	Bank of America Corporation	Sell	-35,369	-3.8%	$25.75M	900,241
Q1 2023	BN Brookfield Corporation	Brookfield Corporation	Sell	-427	-2.6%	$714.30K	16,223
Q1 2023	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-16,434	-3.6%	$137.39M	444,970
Q1 2023	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Buy	+1,676	+9.1%	$8.79M	20,156
Q1 2023	CIEN Ciena Corporation	Ciena Corporation	Sell	-13,981	-2.1%	$35.01M	666,676
Q1 2023	COHR Coherent Corp.	Coherent Corp.	Buy	+11,002	+12.9%	$3.68M	96,526
Q1 2023	COST Costco Wholesale Corporation	Costco Wholesale Corporation	Sell - Position Exit	-350	-100.0%	$0.00	-
Q1 2023	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+2,978	+1.3%	$22.93M	228,988
Q1 2023	EW Edwards Lifesciences Corporatio	Edwards Lifesciences Corporatio	Sell	-11,198	-2.6%	$34.33M	414,975
Q1 2023	FAST Fastenal Company	Fastenal Company	Sell	-750	-7.7%	$482.98K	8,954
Q1 2023	FBIN Fortune Brands Innovations, Inc	Fortune Brands Innovations, Inc	Buy	+633	+0.1%	$52.72M	897,630
Q1 2023	FI Fiserv, Inc.	Fiserv, Inc.	Buy - Position Entry	+260,671	-	$29.46M	260,671
Q1 2023	FIVE Five Below, Inc.	Five Below, Inc.	Sell	-16,357	-2.6%	$123.99M	601,994
Q1 2023	FND Floor & Decor Holdings, Inc.	Floor & Decor Holdings, Inc.	Sell	-990	-0.4%	$26.06M	265,344
Q1 2023	FRCB First Republic Bank (San Franci	First Republic Bank (San Franci	Sell - Position Exit	-236,893	-100.0%	$0.00	-
Q1 2023	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-24,902	-2.8%	$89.66M	862,076
Q1 2023	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+4,897	+2.4%	$22.11M	213,177
Q1 2023	HEI-A Heico Corporation	Heico Corporation	Sell	-13,914	-2.1%	$89.28M	656,986
Q1 2023	IBP Installed Building Products, In	Installed Building Products, In	Buy	+10,789	+2.6%	$48.36M	424,109
Q1 2023	ICE Intercontinental Exchange Inc.	Intercontinental Exchange Inc.	Sell - Position Exit	-13,438	-100.0%	$0.00	-
Q1 2023	ITB iShares U.S. Home Construction	iShares U.S. Home Construction	Sell	-5,643	-53.5%	$344.98K	4,908
Q1 2023	IYF iShares U.S. Financial ETF	iShares U.S. Financial ETF	Sell	-174	-5.7%	$204.67K	2,877
Q1 2023	J Jacobs Solutions Inc.	Jacobs Solutions Inc.	Sell	-1,656	-40.3%	$288.84K	2,458
Q1 2023	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy	+1,785	+5.7%	$4.30M	33,026
Q1 2023	KEYS Keysight Technologies Inc.	Keysight Technologies Inc.	Sell	-17,551	-3.8%	$71.93M	445,435

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