Francois Rochon - Giverny Capital 13F Activity & Position Changes (Q3 2021)

As of Sep 30, 2021, the Giverny Capital portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 12, 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 Q3 2021, the filing reported:

New Buys - Alibaba Group Holding Limited, Liberty Broadband Corporation, UnitedHealth Group Incorporated, Wayfair Inc.

Increases - AMETEK, Inc., Amazon.com, Inc., Arista Networks, Autohome Inc., Bank of America Corporation, and 25 more

Reductions - Apple Inc., Walt Disney Company (The), Edwards Lifesciences Corporatio, CGI Inc., Healthcare Services Group, Inc., and 5 more

Complete Exits - Liberty Broadband Corporation, New Gold 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
Q3 2021	AAPL Apple Inc.	Apple Inc.	Sell	-384	-3.2%	$1.62K	11,438
Q3 2021	AME AMETEK, Inc.	AMETEK, Inc.	Buy	+25,406	+3.4%	$95.02K	766,249
Q3 2021	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+237	+50.9%	$2.31K	703
Q3 2021	ANET Arista Networks	Arista Networks	Buy	+8,112	+50.6%	$8.30K	24,148
Q3 2021	ATHM Autohome Inc.	Autohome Inc.	Buy	+22,957	+6.6%	$17.30K	368,701
Q3 2021	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Buy - Position Entry	+4,976	-	$737.00	4,976
Q3 2021	BAC Bank of America Corporation	Bank of America Corporation	Buy	+3,356	+0.2%	$57.27K	1,349,092
Q3 2021	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+11,800	+1.6%	$204.03K	747,544
Q3 2021	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Buy	+7,259	+74.6%	$9.94K	16,986
Q3 2021	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-1,415	-0.7%	$33.88K	200,300
Q3 2021	EW Edwards Lifesciences Corporatio	Edwards Lifesciences Corporatio	Sell	-3,379	-0.8%	$45.53K	402,150
Q3 2021	FAST Fastenal Company	Fastenal Company	Buy	+750	+8.4%	$501.00	9,704
Q3 2021	FBIN Fortune Brands Innovations, Inc	Fortune Brands Innovations, Inc	Buy	+12,261	+2.2%	$49.97K	558,812
Q3 2021	FIVE Five Below, Inc.	Five Below, Inc.	Buy	+18,009	+5.7%	$58.96K	333,458
Q3 2021	FRCB First Republic Bank (San Franci	First Republic Bank (San Franci	Buy	+8,786	+48.4%	$5.20K	26,944
Q3 2021	GIB CGI Inc.	CGI Inc.	Sell	-455	-21.5%	$141.00	1,665
Q3 2021	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+1,178	+3.1%	$105.92K	39,741
Q3 2021	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+304	+3.3%	$25.21K	9,429
Q3 2021	HCSG Healthcare Services Group, Inc.	Healthcare Services Group, Inc.	Sell	-179	-0.0%	$9.25K	370,166
Q3 2021	HEI-A Heico Corporation	Heico Corporation	Buy	+17,424	+3.0%	$70.58K	595,976
Q3 2021	ICE Intercontinental Exchange Inc.	Intercontinental Exchange Inc.	Buy	+17,243	+5.8%	$36.26K	315,808
Q3 2021	ISRG Intuitive Surgical, Inc.	Intuitive Surgical, Inc.	Buy	+64,414	+47714.1%	$21.39K	64,549
Q3 2021	ITB iShares U.S. Home Construction	iShares U.S. Home Construction	Buy	+718	+24.4%	$242.00	3,661
Q3 2021	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy	+18,282	+5.0%	$62.49K	381,770
Q3 2021	KEYS Keysight Technologies Inc.	Keysight Technologies Inc.	Buy	+5,854	+1.4%	$70.71K	430,380
Q3 2021	KMX CarMax Inc	CarMax Inc	Buy	+48,715	+4.4%	$148.38K	1,159,579
Q3 2021	LBRDA Liberty Broadband Corporation	Liberty Broadband Corporation	Buy - Position Entry	+35,455	-	$5.97K	35,455
Q3 2021	LBRDK Liberty Broadband Corporation	Liberty Broadband Corporation	Sell - Position Exit	-20,482	-100.0%	$0.00	-
Q3 2021	LFUS Littelfuse, Inc.	Littelfuse, Inc.	Sell	-18	-0.6%	$757.00	2,770
Q3 2021	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+4,049	+44.3%	$4.59K	13,199

Page 1 of 2