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

According to the SEC 13F filed on May 12, 2023, the Giverny Capital portfolio showed several notable changes in holdings as of quarter-end Mar 31, 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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