Francois Rochon - Giverny Capital 13F Activity & Position Changes (Q4 2017)

According to the SEC 13F filed on Aug 14, 2026, the Giverny Capital portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2017. 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 Q4 2017, the filing reported:

New Buys - Credit Acceptance Corporation, Edwards Lifesciences Corporatio, Littelfuse, Inc., Ryanair Holdings plc

Increases - Berkshire Hathaway Inc. New, Liberty Media Corp Formula One Group, Alphabet Inc., JP Morgan Chase & Co., CarMax Inc, and 1 more

Reductions - AMETEK, Inc., Walt Disney Company (The), Fortune Brands Innovations, Inc, Alphabet Inc., Heico Corporation, and 9 more

Complete Exits - None reported

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
Q4 2017	AME AMETEK, Inc.	AMETEK, Inc.	Sell	-5,271	-0.8%	$49.50K	682,995
Q4 2017	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Buy	+8,612	+1.2%	$141.97K	716,216
Q4 2017	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Buy - Position Entry	+59,426	-	$19.22K	59,426
Q4 2017	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-84,506	-24.0%	$28.72K	267,127
Q4 2017	EW Edwards Lifesciences Corporatio	Edwards Lifesciences Corporatio	Buy - Position Entry	+161,571	-	$18.21K	161,571
Q4 2017	FBIN Fortune Brands Innovations, Inc	Fortune Brands Innovations, Inc	Sell	-9,629	-3.0%	$21.04K	307,472
Q4 2017	FWONK Liberty Media Corp Formula One Group	Liberty Media Corp Formula One Group	Buy	+974	+0.2%	$21.79K	637,915
Q4 2017	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+3,468	+14.2%	$29.13K	27,835
Q4 2017	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-208	-3.5%	$6.12K	5,814
Q4 2017	HEI-A Heico Corporation	Heico Corporation	Sell	-7,644	-2.5%	$23.27K	294,313
Q4 2017	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy	+21	+0.1%	$1.58K	14,757
Q4 2017	KMX CarMax Inc	CarMax Inc	Buy	+97,703	+10.4%	$66.24K	1,032,850
Q4 2017	LFUS Littelfuse, Inc.	Littelfuse, Inc.	Buy - Position Entry	+1,523	-	$301.00	1,523
Q4 2017	LKQ LKQ Corporation	LKQ Corporation	Sell	-183,215	-16.7%	$37.27K	916,503
Q4 2017	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Sell	-2,742	-2.6%	$28.66K	103,885
Q4 2017	MKL Markel Group Inc.	Markel Group Inc.	Buy	+270	+0.9%	$35.00K	30,727
Q4 2017	MTB M&T Bank Corporation	M&T Bank Corporation	Sell	-44,710	-28.7%	$18.96K	110,876
Q4 2017	ORLY O'Reilly Automotive, Inc.	O'Reilly Automotive, Inc.	Sell	-478	-0.5%	$22.32K	92,798
Q4 2017	RYAAY Ryanair Holdings plc	Ryanair Holdings plc	Buy - Position Entry	+2,500	-	$260.00	2,500
Q4 2017	STN Stantec Inc	Stantec Inc	Sell	-125	-0.6%	$596.00	21,329
Q4 2017	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Sell	-2,056	-49.0%	$164.00	2,141
Q4 2017	UNP Union Pacific Corporation	Union Pacific Corporation	Sell	-2,154	-0.8%	$35.88K	267,529
Q4 2017	V Visa Inc.	Visa Inc.	Sell	-4,278	-1.3%	$38.16K	334,714
Q4 2017	WFC Wells Fargo & Company	Wells Fargo & Company	Sell	-197,665	-37.2%	$20.26K	333,964